Search found 150 matches

by RetiredCSProf
Wed Sep 12, 2018 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Buy for low-income retiree
Replies: 23
Views: 1976

Re: Rent vs Buy for low-income retiree

I am the OP. Thanks for so many good suggestions, but I'm making no headway with my sister. In response to the questions... My sister's husband was self-employeed and had a very high income until he stopped working at age 80, due to declining health. My sister's savings are proceeds from the sale of...
by RetiredCSProf
Sat Sep 08, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Buy for low-income retiree
Replies: 23
Views: 1976

Rent vs Buy for low-income retiree

My sister is 75 and recently widowed. Her only income is Soc Sec. She has about $150K in savings. She lives in a house that she purchased for $800K cash one year ago. My sister says she cannot afford the property taxes on her house (CA). She wants to sell her house and use the proceeds to purchase a...
by RetiredCSProf
Sat Sep 08, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Implementing a QCD at Fidelity
Replies: 17
Views: 1265

Re: Implementing a QCD at Fidelity

I apologize if I was unclear. Acknowledgment is needed if amount of check is $250 or more. There is no minimum on the size of the QCD check.

[edited to add:] The acknowledgment is for your records, in case audited, and not included with your tax return.
by RetiredCSProf
Fri Sep 07, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Implementing a QCD at Fidelity
Replies: 17
Views: 1265

Re: Implementing a QCD at Fidelity

I recently turned 70.5 and took QCDs from Fido. I downloaded and printed the online form, which offers two options: Mail checks directly to charity or mail checks to account owner. I filled out the form, brought it to the local Fido office, signed it in front of a representative, and turned it in to...
by RetiredCSProf
Thu Sep 06, 2018 11:51 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 9743

Re: Max you should invest in a 529?

I invested $55K into an age-based Vanguard 529 when my son was about 6 years old. This was a gift from Gramma (super-gifting $11K per year for five years). By the time my son started college, the fund had grown to $100K (kept up with inflation in college tuition costs). I had previously invested $50...
by RetiredCSProf
Thu Sep 06, 2018 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: disability benefits
Replies: 4
Views: 754

Re: disability benefits

I was working part-time when I took off six weeks to recover from surgery (repairing fractured ankle / foot). My disability was half what I would have received if I had been working full-time. (State of California) At that time, my company offered "flexible" part-time, where my hours varied between ...
by RetiredCSProf
Fri Aug 31, 2018 9:46 pm
Forum: Investing - Theory, News & General
Topic: Possible Change to RMDs? [Executive order]
Replies: 47
Views: 6057

Re: Possible Change to RMDs? [Executive order]

This proposed change to RMDs was reported on the "Nightly Business News" this evening.

This was reported along with a proposal to reduce capital gains by inflation. That is, to add a factor for inflation to the cost basis of property sold.
by RetiredCSProf
Mon Aug 27, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Yeesh. Car damage right before lease end
Replies: 13
Views: 1816

Re: Yeesh. Car damage right before lease end

My only experience with damage to a leased car is that I informed the insurance company first, and then informed the dealer, who set up for estimate and repairs with their recommended body shop (the shop was acceptable to the insurance company, as well). They made it simple by having me drop off the...
by RetiredCSProf
Sun Aug 26, 2018 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: 529 withdrawl timing
Replies: 10
Views: 1062

Re: 529 withdrawl timing

It really depends on the school's billing and reporting cycle. Trimester schools may require payment for the second trimester in December or in January, and will report accordingly on the 1098-T. I know of another semester school that requires payment for the spring semester in December, so a fresh...
by RetiredCSProf
Sun Aug 19, 2018 12:35 am
Forum: Investing - Help with Personal Investments
Topic: Withdrawal rate and tax-adjusted asset allocation
Replies: 6
Views: 756

Re: Withdrawal rate and tax-adjusted asset allocation

@FiveK: My marginal fed tax rate is 24% and state (CA) is 9.3%; fed + state = 1/3 of withdrawals from my tax-deferred accounts will go to taxes. My tax rate will increase in two years when I am demoted from Head-of-Household to single (using 2018 tax rates and rules) when my child ages out of depend...
by RetiredCSProf
Fri Aug 17, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Withdrawal rate and tax-adjusted asset allocation
Replies: 6
Views: 756

Re: Withdrawal rate and tax-adjusted asset allocation

Does the "4% rule" calculate to a $40K withdrawal in the first year? That is, are all accounts considered "equal," regardless of how I take the withdrawal? Yes. Note, however, that the $40K needs to cover any and all taxes. Taxes are an expense, same as eggs and electricity, per the "4% rule." Are ...
by RetiredCSProf
Thu Aug 16, 2018 10:05 pm
Forum: Investing - Help with Personal Investments
Topic: Withdrawal rate and tax-adjusted asset allocation
Replies: 6
Views: 756

Withdrawal rate and tax-adjusted asset allocation

I have been reading the BH threads on safe withdrawal rate strategies during retirement years. Do these strategies apply equally across an investment portfolio that includes Roth, tax-deferred IRAs, and a taxable portfolio? If I apply a withdrawal rate strategy with a percentage (fixed or variable r...
by RetiredCSProf
Sun Aug 12, 2018 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Multiple tIRA accounts-- any reason to not consolidate?
Replies: 17
Views: 1301

Re: Multiple tIRA accounts-- any reason to not consolidate?

My IRA through work is with TRowePrice. It's just a regular IRA but I do get matching and of course can save more there than outside of work-- so I will keep it for now. I won't roll other money over into it but I have access to a couple good Vanguard funds so I'll keep it. When I retire, I will se...
by RetiredCSProf
Thu Aug 09, 2018 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: QLAC and RMD
Replies: 7
Views: 478

Re: QLAC and RMD

I considered purchasing $100K in a QLAC before I started taking RMDs; instead, I decided to convert $100K from my tax-deffered IRAs to Roth IRAs. The QLAC does not avoid RMDs, but extends out the time. Once the money is placed into a QLAC, there's no going backward. The Roth conversion allowed me to...
by RetiredCSProf
Fri Aug 03, 2018 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Which offer to accept on vacant land?
Replies: 17
Views: 1914

Re: Which offer to accept on vacant land?

You can always offer a counter offer.... If your siblings insist on the higher offer (#1), then counter with a non-refundable deposit. Otherwise #2 would be preferable. We signed an agreement with Offeror #1 for purchase price of $800K. Our listing agent negotiated to increase the initial deposit t...
by RetiredCSProf
Thu Aug 02, 2018 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Which offer to accept on vacant land?
Replies: 17
Views: 1914

Re: Which offer to accept on vacant land?

The property is zoned for mixed use -- residential and commercial development. The value of the land to a developer is based on the number of buildable lots in a subdivision and the cost of building roads. We have not paid for engineering to determine a lot yield, so the offers are based on the deve...
by RetiredCSProf
Wed Aug 01, 2018 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Which offer to accept on vacant land?
Replies: 17
Views: 1914

Which offer to accept on vacant land?

My siblings and I have 200 acres of vacant land (woodland and fields) on the market. We have three offers on the table from local developers. The land is in a small town (bedroom community) on the East Coast. We are all on the West Coast; we are depending on our listing agent to help us evaluate the...
by RetiredCSProf
Tue Jul 31, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Are Credit Cards Actually Convenient?
Replies: 91
Views: 7137

Re: Are Credit Cards Actually Convenient?

I keep a credit card for one reason -- for car rentals, where a credit card is usually required. In general, I stopped using credit cards after I retired six years ago -- I guess this makes me an outlier on this forum. Instead, I use a debit card for most purchases. I have concluded that, for me, cr...
by RetiredCSProf
Sat Jul 28, 2018 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question, Wife Owns 1/3 of house from before marriage
Replies: 8
Views: 910

Re: Tax Question, Wife Owns 1/3 of house from before marriage

Does the deed say that the house was owned jointly with rights of survivorship? If it was owned by your wife and her parents as "tenants in common," then rights of survivorship does not apply.
by RetiredCSProf
Fri Jul 27, 2018 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan-is mandatory orientation fee qualified?
Replies: 16
Views: 2108

Re: 529 plan-is mandatory orientation fee qualified?

Call me ignorant, but what exactly would a "mandatory orientation" include and why would they charge $350 per student? Does it include housing for the orientation, transportation etc? Actual materials used by student (electronic, hard copy)? This assumes the student hasn't already secured housing t...
by RetiredCSProf
Fri Jul 27, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan-is mandatory orientation fee qualified?
Replies: 16
Views: 2108

Re: 529 plan-is mandatory orientation fee qualified?

I'm revisiting this post, as my son's college plans for the fall have been in upheaval (long story). Bottom line is that he may be transferring in the fall as a junior to a private school, where tuition is $23,735 for one semester and there are many extra mandatory fees on the bill. Would be nice if...
by RetiredCSProf
Thu Jul 26, 2018 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: Struggles with 1st QCD and RMD
Replies: 5
Views: 539

Struggles with 1st QCD and RMD

I recently turned 70-1/2. :beer I have rollover IRAs with Fido and TRowe. My RMD obligation for 2018 is about $20K. I decided to take a portion of my Fido RMD as QCDs before taking any RMDs. QCD issues When Fido mails a QCD check to the charity, no other information goes with the check, e.g., no way...
by RetiredCSProf
Mon Jul 16, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get a $100 bill?
Replies: 49
Views: 5310

Re: Where to get a $100 bill?

Go to a casino in Las Vegas and request $100 cash from an ATM machine.

I'm serious. The last time I was in Las Vegas, I withdrew $100 cash from an ATM machine. I thought there was some mistake when only a single bill popped out -- it was a $100 bill.
by RetiredCSProf
Mon Jul 16, 2018 8:46 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Portfolio Advice Please
Replies: 30
Views: 3391

Re: Fidelity Portfolio Advice Please

I have accounts at Fidelity in self-managed funds. I like going to their local office for help with paperwork. When I met with a Fido advisor 1.5 years ago, he helped me in selecting mutual funds, most at Fidelity, but also other actively managed bond funds and international funds that they offer as...
by RetiredCSProf
Thu Jul 05, 2018 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: 529 asset allocation during college years
Replies: 9
Views: 964

Re: 529 asset allocation during college years

It sounds like he hasn't even started college yet. I'd say leave it where it is until at least the end of year 2. A lot can change during those first few years, and if an expensive professional school appears on the horizon you might want every dollar of that 100k to be right where it is. (OP) He i...
by RetiredCSProf
Tue Jul 03, 2018 10:30 pm
Forum: Investing - Help with Personal Investments
Topic: 529 asset allocation during college years
Replies: 9
Views: 964

529 asset allocation during college years

My son's 529 fund is invested in the Vanguard Nevada plan. He has $100K in the account, but will likely use less than $25K of it to complete his B.A. (in the next 2-3 years). He may want to continue on to graduate school for a master's degree; that is, grad school is at least 3 years into the future...
by RetiredCSProf
Sun Jul 01, 2018 3:26 pm
Forum: Investing - Theory, News & General
Topic: What is your one favorite Fidelity Fund??
Replies: 59
Views: 5560

Re: What is your one favorite Fidelity Fund??

Select Electronics (FSELX) is the fund I have held the longest (over 30 years), and it's the fund in which I have the largest holding. Of the Fido funds I have purchased more recently, my favorite is the Overthecounter fund (FOCPX) -- it is similar to Fido Growth Company (FDGRX), which someone menti...
by RetiredCSProf
Fri Jun 29, 2018 9:42 pm
Forum: Personal Consumer Issues
Topic: hybrid or plug-in electric car
Replies: 70
Views: 4168

Re: hybrid or plug-in electric car

I am leasing a plug-in hybrid BMW 330i. I have had the car for one year and have put 5200 miles on it. The electric battery holds 7.5 kWh, and the gas tank holds 10 gallons. Plugging it in at home costs about $2 for a full charge, which takes a minimum of about 4 hours. I can reduce the cost if I in...
by RetiredCSProf
Fri Jun 29, 2018 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay college tuition from a 529?
Replies: 56
Views: 5559

Re: How to pay college tuition from a 529?

Today I requested that Vanguard send a check payable to my son (beneficiary) for this fall semester, and my son will pay university online from his account, which has enough funds to cover the tuition. Payment is due July 11; check from Vanguard will take 7-10 business days to arrive. Next semester,...
by RetiredCSProf
Wed Jun 27, 2018 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Plan Principal amount withdrawls
Replies: 7
Views: 467

Re: 529 Plan Principal amount withdrawls

Two other differences: A contribution to a 529 plan is a completed gift to the beneficiary; a contribution to your Roth account remains part of your estate. In determining a family's ability to contribute to their child's education, FAFSA includes 529 plans as part of the parents' assets; but does n...
by RetiredCSProf
Sat Jun 23, 2018 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay college tuition from a 529?
Replies: 56
Views: 5559

Re: How to pay college tuition from a 529?

I'm revisiting this thread as my son is transferring from community college to a more expensive 4-year school, and I will need to start taking withdrawals form his Vanguard 529 fund, which offers three options: check payable to University -- but may take 10 business days for Univ to process, so soun...
by RetiredCSProf
Wed Jun 20, 2018 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: 529 plan - did I do something bad?
Replies: 6
Views: 1036

Re: 529 plan - did I do something bad?

Yes, you can superfund the 529 plan for up to five years. Gifting for 2018 is limited to $15K per individual. (It was $14K in 2017.) You and your wife can each gift $75K in 2018 to your child, for a total of $150K. I'm in a community property state, so I don't know if there are different rules for a...
by RetiredCSProf
Mon Jun 18, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 1116

Re: Seller Financing on Land Sale

Seems like their moves to de-risk would increase your risk. Perhaps you could get them to offer something that doesn’t increase your risk. If they are capital hungry, then perhaps a triple net lease structure would help them but also protect you. (just spit balling) How would a triple net lease str...
by RetiredCSProf
Sun Jun 17, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 1116

Re: Seller Financing on Land Sale

Thanks for the responses. I'm the OP and you have all given me a lot to consider, not only with respect to the interest rate. The property has been on the market for a couple years, and I may be over eager to get it on contract. The offer is nearly 20% below asking, lower than I would like. We have ...
by RetiredCSProf
Fri Jun 15, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 1116

Seller Financing on Land Sale

I have vacant land on the market. I had told my listing agent, at the start, that I do not want to hold any paper on the sale. He has presented an offer from a potential buyer with 37% of the purchase price to be financed by the seller, at 4% annual interest. Out of curiosity, what is a reasonable i...
by RetiredCSProf
Mon Jun 11, 2018 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: death certificates...hospice and 911
Replies: 32
Views: 3064

Re: death certificates...hospice and 911

My Mom was in hospice care at assisted living when she passed away at age 99. She had been in hospice care for only a few days, but had their caretakers round the clock. The hospice staff left soon after my Mom's passing and had nothing to do with making arrangements with the mortuary or funeral hom...
by RetiredCSProf
Tue Jun 05, 2018 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: FSCSX [Fidelity Select Software and IT Services Portfolio]
Replies: 8
Views: 551

Re: FSCSX [Fidelity Select Software and IT Services Portfolio]

The Fidelity Select funds carry more risk because they are concentrated in a single sector. The amount you invest in sector funds depends on your risk tolerance. I am currently invested in FSCSX and Fidelity Select Medical Equipment (FSMEX), both of which have performed well in the past year. Also, ...
by RetiredCSProf
Mon Jun 04, 2018 11:08 am
Forum: Investing - Help with Personal Investments
Topic: [what to sell for] RMD
Replies: 21
Views: 1569

Re: [what to sell for] RMD

The first withdrawals from your TIRA account are deemed to be RMDs. To minimize taxes, you want the QCDs to be part of that. I thought I understood QCDs, but the above statement confuses me. I am turning 70-1/2 in a few months. I was told that I can take QCDs any time after my half-birthday this ca...
by RetiredCSProf
Sun Jun 03, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Overlap between domestic and international funds
Replies: 3
Views: 200

Overlap between domestic and international funds

My asset allocation goal is to keep about 30% of my equities in international. I am finding this difficult to track in my TRowe tIRA account, as many of their US funds, such as TRP Blue Chip (TRBCX), invest a portion in international companies. I am wondering whether to reduce my goal to account for...
by RetiredCSProf
Thu May 31, 2018 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 18911

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

Hello, Assumptions 1. my kids grow up to be average " students. 2. We are an upper middle class family when my kids apply for college (i.e. a few million dollar net worth). 3. Have some 529 balances. Say $75k each kid Do kids like these typically get any "free" money from colleges or any other orga...
by RetiredCSProf
Tue May 29, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Please help. Private school contract woes.
Replies: 21
Views: 3419

Re: Please help. Private school contract woes.

I have no experience with private school contracts, but I am in a legal dispute that is going to arbitration in California. There's a filing fee for arbitration as well as a retainer fee for the arbitrator (usually a retired judge). My initial fees for arbitration are $3700 -- these are the formal f...
by RetiredCSProf
Mon May 21, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: child turning 18 - stop filing as dependent?
Replies: 23
Views: 2206

Re: child turning 18 - stop filing as dependent?

The IRS is very specific about claiming dependents and provides an interactive tool to determine status: https://www.irs.gov/faqs/filing-requirements-status-dependents-exemptions/dependents-exemptions/dependents-exemptions-2 Some factors to consider are: - age of child - marital status of your child...
by RetiredCSProf
Sat May 19, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!
Replies: 22
Views: 2146

Re: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!

A few random comments: 1) What qualifies as an "expensive college"? Here' the estimated cost of attendance for the 2018-2019 academic year for some of the schools my son applied to as a transfer student (he's finishing an AA degree at a California Community College). Note that estimated cost include...
by RetiredCSProf
Sat May 05, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Private Client Services?
Replies: 6
Views: 1886

Re: Chase Private Client Services?

I considered Chase Private Client Services this year when I was applying for a HELOC. It would have required my moving funds from a self-managed, traditional IRA to a managed account at Chase. I prefer to manage my own accounts. While Chase offered that they would be able to set up a self-managed ac...
by RetiredCSProf
Thu May 03, 2018 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: When would you replace a car?
Replies: 34
Views: 3279

Re: When would you replace a car?

I replaced my 8-year old car three months after my son was born. I had a 2-door hatchback; getting my infant son into the rear-facing car seat in the back was nearly impossible for me. I gave the hatchback to my nephew and purchased a new Lexus sedan, which I drove for 20 years. My criteria for the ...
by RetiredCSProf
Thu May 03, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Budget for kid's sport?
Replies: 49
Views: 2630

Re: Budget for kid's sport?

I spent a small fortune on my kid's sports and on music lessons. My motivation for sports was that, as a female engineer, I was often told by management that I lacked the team-building experience that my male counterparts derived from playing on sports teams (I guess marching band didn't count as a ...
by RetiredCSProf
Mon Apr 23, 2018 8:27 pm
Forum: Personal Consumer Issues
Topic: Your own General Contractor
Replies: 33
Views: 3243

Re: Your own General Contractor

I hired a licensed GC to remodel two bathrooms in my 30-year old spec home. He falsely claimed that features of my home did not meet the residential code and he enlarged the scope of the project to ten times my original intent. During the remodel, he flagrantly ignored state construction laws, e.g.,...
by RetiredCSProf
Mon Apr 23, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2341

Re: How to pay for 6th year of college?

Some random thoughts: 1. I like the idea of him paying for the 6th year, but it sounds like OP and some of the other posters do not. I understand that, and I may change my tune if any of my three kids get to that point. 2. If you're paying for his college, then *you* can take advantage of the educa...
by RetiredCSProf
Fri Apr 20, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2341

Re: How to pay for 6th year of college?

I think you are right that tuition paid directly to the school doesn't count toward the 15K, but are you really concerned that room and board is going to be above 15K? Absolutely! The school to which I am referring for the game design degree is in the University of California system. R&B for the 20...
by RetiredCSProf
Fri Apr 20, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2341

Re: How to pay for 6th year of college?

Thanks for the responses: >UpperNwGuy -- If I borrow money to pay for a 6th year of undergraduate school, I would still risk exceeding the annual $15K gift >rob65 -- Yes, filing Form 709 would allow me to exceed the annual $15K limit >JPH -- I agree, paying your own way is motivating. >GCD -- My son...