Search found 51 matches

by huskerblue
Fri Jan 12, 2024 12:45 pm
Forum: Personal Investments
Topic: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?
Replies: 35
Views: 4115

Re: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?

I was fixated on my "Flip" experience and think I'm likely wrong on your straight NIMCRUT scenario. Your administrator is is likely correct.

Sorry for muddying the waters.

Edit: Also did some research and discovered that crypto is taxed as a capital gain. I guess I can't help being wrong in this thread. :( The research also showed that if you use crypto to buy something like when Tesla was accepting Bitcoin for car payment (no longer) and it is worth more than you bought it for you owe a capital gain tax on that transaction. Yuck.
by huskerblue
Fri Jan 12, 2024 12:24 pm
Forum: Personal Investments
Topic: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?
Replies: 35
Views: 4115

Re: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?

A CPA can correct me if I'm wrong but a highly appreciated asset added to a CRUT only defers the gain and "traps it" inside the trust once the asset is sold. There is no immediate gains tax to pay but as $$ comes out of the trust to satisfy the 6% distribution it will be taxable to you. It can take years to distribute out all this trapped income. My murky recollection about crypto is it has special tax status (like a collectible???). Thus, for the ordering rules I'm not sure how it comes out but ordering rules are set out here. Generally, "worst comes out first" to you on the K1 form except that under present tax law qualified dividends are ordinary income and come out to you before short-term cap gains; something the le...
by huskerblue
Fri Jan 12, 2024 11:56 am
Forum: Personal Investments
Topic: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?
Replies: 35
Views: 4115

Re: A million dollars cash, all-in VTI right away or let it sit in VMFXX and wait for dips?

How did you end up with $1 million cash? Was this a Flip NIMCRUT with a piece of real estate or some such that has sold triggering the flip to a full 6% payout from only the net income formula before (which was probably zero or close to it in payouts)? Do you have a large capital gain from the RE sale that has to pay out to you anyway via the ordering rules? If so you may already have a lot of the 6% coming out as taxable cap gains at least for some time. I assume you are the Trustee. Thus, you owe a duty of loyalty and prudence to all beneficiaries of the trust, charities included. You should consider investing in a prudent investor rule manner. 100% equities right before a big downturn can lead to grumpy benes. Just sayin. I trustee our F...
by huskerblue
Fri Jan 12, 2024 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Are direct payment of a trusts beneficiary's obligations considered part of the required annual distribution to him?
Replies: 12
Views: 1083

Re: Are direct payment of a trusts beneficiary's obligations considered part of the required annual distribution to him?

LeftCoastIV wrote: Fri Jan 12, 2024 11:23 am In an extreme case, if this was allowed, couldn't a trustee conceivably pay for almost any level of expense to the beneficiary provided it was not paid directly? For example, the beneficiary could take on a $1M loan for a waterfront condo, and have the trust pay the mortgage directly. Heck, have the trust pay off the mortgage on day 1, by paying the mortgage holder.
And then get sued later by the remaindermen by over distributing to the income bene, not taking their interests into account when you made the distributions? Hmmmmmm. We live in a litigious society.

As stated, no one can give you an answer without seeing the document language.
by huskerblue
Mon Jan 08, 2024 1:43 pm
Forum: Personal Investments
Topic: Finding fiduciary who will honor bond ladder
Replies: 13
Views: 1252

Re: Finding fiduciary who will honor bond ladder

If you’re talking about a corporate trustee to manage your investments you will simply need to accept that their fiduciary duty is to do it their way. If they do it your way and it underperforms their way your heirs may be lining up at the lawyers office to get their pound of flesh.

There was a case a long time ago wherein the trust document mandated that the trustee hold the client’s Worldcom and Level 3 stock. The trustee complied. Guess what happened.
by huskerblue
Sat Dec 30, 2023 9:07 am
Forum: Personal Investments
Topic: Senior Wanting to Abandon Current Investing
Replies: 34
Views: 5586

Re: Senior Wanting to Abandon Current Investing

Haven't seen anything referencing Iowa tax law beyond the note that she is in Iowa but there is a big change happening in Iowa taxation wherein most retirement income will no longer be state taxed. Pensions, SS, IRA withdrawals are state tax free (Other income sources? I haven't studied it closely as I don't live in Iowa).

You should check up on this pronto. Does she have a local tax advisor?
by huskerblue
Tue Dec 26, 2023 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo-Tax Or H&R Block Tax Software... One Better Than The Other?
Replies: 57
Views: 7815

Re: Turbo-Tax Or H&R Block Tax Software... One Better Than The Other?

OK, I've been a longtime TurboTax user and am considering H&R Block software. I have to do a trust tax return, including the Pennsylvania part for that same trust. And I do my personal tax returns as well as for a few family members in multiple states. Two of the personal returns are somewhat complicated. What might I need to look out for with H&R? Do I need to buy both a personal and a trust & business version like I have to do with Turbotax? Have done an irrev trust 1041 return by hand for years (what a PITA). Recently discovered that TaxAct has a package for under $200 for the fed and state returns: https://www.taxact.com/individual-taxes/online/estates-and-trusts I'm using it for the 2023 return and hope my spring anxiety l...
by huskerblue
Wed Dec 13, 2023 9:12 am
Forum: Personal Finance (Not Investing)
Topic: How to find a experienced & knowledgeable tax preparer for an estate with trusts in south NJ
Replies: 21
Views: 1594

Re: How to find a experienced & knowledgeable tax preparer for an estate with trusts in south NJ

You may want to call a local trust company to see if they use outside tax preparers for their 1041/990-PF/5227 work. It would likely need to be a small group as large groups often have their own internal tax prep department.
by huskerblue
Thu Nov 30, 2023 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Parents have exhausted retirement funds UK
Replies: 36
Views: 4576

Re: Parents have exhausted retirement funds UK

minimalistmarc wrote: Thu Nov 30, 2023 3:52 am mocked me for saving and investing, plus my goal is financial independence for my wife and I and our 2 young kids.
Good luck with your path. I never thought I would help family as I always believed it would turn a family relationship into a business relationship which isn't ideal. I did. So far it hasn't been as bad as I thought. I did go with an intrafamily loan (US AFR rates utilized) versus an outright gift as in my book a little skin in the game for a spender is necessary.

That said, your words above seem to provide a hint as to how you feel and to oneself be true.
by huskerblue
Tue Nov 28, 2023 11:25 am
Forum: Personal Finance (Not Investing)
Topic: BlackRock Defined Maturity ETFs
Replies: 2
Views: 306

Re: BlackRock Defined Maturity ETFs

I think I will look at these a year from now before making any judgement on them. They are brand new and have nothing much more than the seed money in them so no telling what will happen with them. Their straight Treasury counterparts have attract substantial funds so I would think these may too but it's just too early to tell in my book.
by huskerblue
Fri Nov 24, 2023 9:08 am
Forum: Personal Finance (Not Investing)
Topic: SGOV Dividends - qualified or not?
Replies: 16
Views: 3656

Re: SGOV Dividends - qualified or not?

OP may be confusing the 1 year hold period to gain long-term cap gains status versus short-term cap gains. Since this is an ETF, if held past the one year time frame and then sold some or all of your holdings, there would be tax favored capital gain status versus ordinary tax rates if sold short-term.
by huskerblue
Sat Nov 18, 2023 9:07 am
Forum: Investing - Theory, News & General
Topic: Is VXUS investing in China too Risky?
Replies: 71
Views: 6825

Re: Is VXUS investing in China too Risky?

Too much to read at once so this may have already been mentioned but if you hate China but want EM exposure Ishares has the EMXC fund that excludes China from an emerging markets exposure. Expense ratio is 0.25%.
by huskerblue
Mon Nov 13, 2023 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Where to donate car?
Replies: 22
Views: 2430

Re: Where to donate car?

I always donate older cars to charities we support. It is a great way to help and also avoid the bs of selling the car privately that some people handle well and even enjoy. I do not.
by huskerblue
Fri Nov 10, 2023 7:43 am
Forum: Personal Investments
Topic: Schwab sweep account. What fund?
Replies: 35
Views: 5197

Re: Schwab sweep account. What fund?

Schwab cash holding pen pays 0.45%. Like another poster, I use the pure treasury money market and move my cash. This is our safe money and pure treasuries are the safest of the safe.

I do use this for cash management so I am moving cash fairly frequently as dividends post and whatnot. This works for me well. For someone who wants to be completely hands off and only look at their account once every six months or the like this is not ideal.
by huskerblue
Thu Nov 09, 2023 7:29 am
Forum: Investing - Theory, News & General
Topic: International Exposure without International Funds: Which Domestic Fund?
Replies: 34
Views: 3382

Re: International Exposure without International Funds: Which Domestic Fund?

I was w***ing during those years so the auto investing of the 401k just kept me plugging $$ into the markets. The reduction of international exposure was not in place at that time. We retired last year so most of the moves in the portfolio have occurred over the last three to four years in preparation for that. A social security bridge strategy is in place with an appropriate asset allocation and all is well. International stocks just stick in my craw somewhat.
by huskerblue
Wed Nov 08, 2023 3:17 pm
Forum: Investing - Theory, News & General
Topic: International Exposure without International Funds: Which Domestic Fund?
Replies: 34
Views: 3382

Re: International Exposure without International Funds: Which Domestic Fund?

Jack Bogle said you don’t need international funds and with my investing experience back to the late 80s I am becoming more and more convinced he is right. International used to be 40% of my equity exposure and over time that has become 20%. This seems to have been exacerbated since the wide adoption of ETFs. From day to day the performance of US equities seems to drive the price of US based international ETFs seemingly without great regard to what international markets did overnight. Intellectually I’m drawn to modern portfolio theory but emotionally I’m pretty disappointed with international funds. I get there is some recency bias there since US has been top dog for some time now. I guess that realization keeps the 20% in the portfolio fo...
by huskerblue
Wed Nov 08, 2023 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do Trusts normally require beneficiaries to sign broad liability releases prior to termination of the trust?
Replies: 13
Views: 1534

Re: Do Trusts normally require beneficiaries to sign broad liability releases prior to termination of the trust?

For a full release for all past acts and omissions are they willing to provide a full accounting since the inception of the trust and give you time to review it?
by huskerblue
Wed Nov 08, 2023 9:08 am
Forum: Personal Investments
Topic: Choosing Equity Index Funds (Schwab or Fidelity)
Replies: 17
Views: 1772

Re: Choosing Equity Index Funds (Schwab or Fidelity)

Schwab guy here but my entire equity portfolio is VTI and VXUS. It doesn’t matter who you use anymore with zero commissions at all of them.
by huskerblue
Tue Nov 07, 2023 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Open Social Security - spouse should claim at 62?
Replies: 36
Views: 4357

Re: Open Social Security - spouse should claim at 62?

Very much appreciate OSS as a free resource. It is a gift to us all from the author. Thank you Mike. We too have a 70-62 recommendation which shows the expected value of doing so. I wish (maybe it does?) you could force other ages into the program to see the valuation difference. If it is a small difference maybe you would not choose what is recommended due to personal circumstances. For us, I just hit Medicare age but DW is 61. We retired at the start of 2022 (good timing, eh?) and have been on ACA in 2023. We are using a social security bridge strategy and keeping taxable income down to get a strong ACA subsidy so there is no way she will start SS at 62. We will turn on all the income spigots once she is on Medicare. Would love to plug in...
by huskerblue
Tue Nov 07, 2023 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare participation?
Replies: 17
Views: 2443

Re: Medicare participation?

I'm guessing the treatment your Wife needed was not medically necessary? If it is medically necessary, Medicare will pick it up. If the treatment is outpatient, it's covered by part B. If it requires her to be admitted into the hospital, and coded by her Doctor as such. it will be covered by part A. Unless, of course, you're talking about Medicare Advantage, which is a whole different ballgame. You really can't beat original Medicare with a supplement plan. Probably the most comprehensive coverage you can get. This. I find it somewhat amazing that a private insurance plan pays for something original Medicare with a supp does not. Medicare with supp is not inexpensive but once you’re on it there is no more comprehensive coverage that I know...
by huskerblue
Tue Nov 07, 2023 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Is CLAT invested into life insurance a good tax savings strategy?
Replies: 11
Views: 1000

Re: Is CLAT invested into life insurance a good tax savings strategy?

A CLAT was an excellent vehicle in a zero interest rate environment to do some (but not a lot) charitable good while moving assets to the next generation by having kids as remaindermen and structuring the payout to zero out the gift tax not even using some of your lifetime exclusion if done properly. I haven’t thought this through much but I fail to see: - How this would cost $25,000. Someone is gouging, good lord. - How you would make the payment to the charity during the trust pendency with an insurance product as the trust res. I suppose you overfund and the cash not used for the policy premium pays out?? and - What is the goal? Charity or you? Pretty sure doing good for charity has little to do with this idea. That is off putting to me....
by huskerblue
Sat Nov 04, 2023 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Do we have too much long term care insurance?
Replies: 15
Views: 1915

Re: Do we have too much long term care insurance?

Bought a policy at 49 and 46. Joint life with inflation rider and no payment of premium if one of us access the policy. Started at a lesser amount ($140?) and is now at $278 per day per person, no max limit , 90 day elimination period. Home health is included. That was 15 years ago. Can’t remember what the premium was at the start but it was cheap due to getting when young and healthy; something like $1,600 per year. Two years ago they hit us with a pretty big increase. The only change we made was a change to simple interest increase from compounding. It’s now about $3,800 per year. They really wanted us to drop the no max limit by dangling a big premium decrease but not a chance. You can’t get no max limit anymore. This is catastrophic cov...
by huskerblue
Wed Nov 01, 2023 4:37 pm
Forum: Personal Investments
Topic: iShares iBonds 2033 Term TIPS ETF - advantages over TIPS
Replies: 31
Views: 3878

Re: iShares iBonds 2033 Term TIPS ETF - advantages over TIPS

Pretty sure you can toggle on dividend reinvestment for any ETF if reinvestment is desired. I don’t dividend reinvest in taxable accounts as that leads to messy lot ownership but that’s just me.

YMMV.
by huskerblue
Tue Oct 31, 2023 11:38 am
Forum: Personal Investments
Topic: Berkshire Hathaway passes for 2024 shareholder meeting
Replies: 3
Views: 3314

Re: Berkshire Hathaway passes for 2024 shareholder meeting

Just an FYI, I live in Omaha and own shares to enjoy the Woodstock for Capitalists weekend.

I put in for passes like normal this year and then sort of forgot I had yet to receive the passes until the weekend was upon me. I took the page from my statement showing the holding, highlighted it and walked into the arena. There is a check in area right in front for folks in the same boat. I showed them the page and they turned over the passes. Easy peasy, no hassle.
by huskerblue
Sun Oct 29, 2023 7:42 pm
Forum: Investing - Theory, News & General
Topic: iShares adds TIPS to iBonds Defined Maturity ETF Offerings
Replies: 49
Views: 9640

Re: iShares adds TIPS to iBonds Defined Maturity ETF Offerings

Problem with these funds right now is there is little AUM, literally not much beyond the seed money. I’ll look at them a year from now to see how they’re doing. Their cousin nominal treasury etf’s have attracted pretty sizable AUM, especially the shorter maturities, which bodes well for the future of the TIPS funds.
by huskerblue
Sat Oct 28, 2023 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Aetna Silverscript Medicare D 2024
Replies: 24
Views: 3610

Re: Aetna Silverscript Medicare D 2024

SmartSaver in Omaha Nebraska going from $4.70 in 2023 to $5.30 in 2024 and the couple maintenance items I take cost $0 in 2024 vs a couple bucks in 2023. Crazy how these differ.
by huskerblue
Sat Oct 28, 2023 8:31 am
Forum: Personal Investments
Topic: Anyone heard of Hatteras Core Alternatives?
Replies: 11
Views: 2584

Re: Anyone heard of Hatteras Core Alternatives?

fabdog wrote: Fri Oct 27, 2023 9:21 am
Question: can I deduct a loss on my taxes? I did not sell at a loss because I can't sell!
you can't deduct a loss yet because you haven't realized it yet, still paper (which does not diminish the sting)

When they finish liquidating next year then you should have an event that counts as a dispo and you can take whatever loss that provides

Mike
Also, good luck determining your basis. The step up in basis at death also includes a step down for dogs like this. You don’t get to pick and choose. Value at DOD is your new basis.
by huskerblue
Fri Oct 27, 2023 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Do I Need an Estate Plan?
Replies: 16
Views: 2097

Re: Do I Need an Estate Plan?

Childless couple and retired estate planner here: This is not legal advice, I am retired and have deactivated my license. This is a personal opinion only: No one needs an estate plan more than a childless couple. If a couple has kids, wants them to inherit everything, doesn’t do any estate planning, in most jurisdictions the kids will eventually end up with everything through intestate succession laws for a state. Estate and trust law is STATE SPECIFIC so never accept generalities about these issues from an online forum without checking with a local estate planning attorney first. Most folks just want their kids to inherit everything. Third, third and a third to my three kids with their kids inheriting their share if they predecease. <yawn>...
by huskerblue
Fri Oct 27, 2023 5:10 pm
Forum: Personal Investments
Topic: 400k placement (ACA)
Replies: 20
Views: 3006

Re: 400k placement (ACA)

Park it with Warren Buffett. He won’t pay you any dividends! :D
by huskerblue
Fri Oct 27, 2023 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Should I ask my in-laws to change their trust?
Replies: 83
Views: 9931

Re: Should I ask my in-laws to change their trust?

cchrissyy wrote: Fri Oct 27, 2023 12:39 pm it is possible their trust is already written such that if your husband disclaims his share will flow to his children.

or it is possible if he disclaims it flows to the siblings.

this would be a question for the current lawyer, and honestly, i would not raise it until the parents had passed.

i would focus on my own estate plan and gifts while living.
This is on point. The more prevalent clause is your kids would inherit but it’s not a given. Their attorney will not be able to discuss the trust without consent from the Trustors (ethically) until they have passed.
by huskerblue
Fri Oct 27, 2023 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Sell house at a discount to son
Replies: 18
Views: 2322

Re: Sell house at a discount to son

Look to AFR rates for minimum interest rates for family loans. 3% is way below minimum in the present environment (4.37% for monthly, long term in October. It changes each month.).
by huskerblue
Fri Oct 27, 2023 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Elder Care topic: POAs and Banks
Replies: 19
Views: 2884

Re: Elder Care topic: POAs and Banks

Helping my MIL now and am POA. Bank wanted to just put me on the account as joint and I said NO. I do not want ownership interest in her assets. I want and get nothing from her estate and want family harmony when she is gone. I only want to be able to keep an eye on her balances and help if needed. They finally allowed for the POA on her checking only but not to see her HELOC or credit card. Frustrating. In the end she allows me to look at her stuff with her online login. Problem solved. She has her kids on the account as POD's so no probate on that account. IMO, the only people who should use joint tenancy are married folks since they are already legally beholden for each other's actions. If I am on MIL's account and I kill someone in a ca...
by huskerblue
Fri Oct 27, 2023 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Question on new medicare part d enrollment timing
Replies: 8
Views: 715

Re: Question on new medicare part d enrollment timing

Similar situation as I start Medicare on November 1. Didn't want to jack around with possible gap in coverage so went ahead and signed up for Part D that starts next week. Silverscript Smartsaver is $4.70 per month. I don't need to fill any scrips so that was the super cheapy plan for 2023. I do take a couple generic maintenance things so I have reviewed the 2024 plans now showing up in Medicare.gov and the same plan is going up to $5.30 per month with paying $0 for my couple 90 day scrips for four quarters. Thus, my 2024 drug costs are $63.60 all in. The $9.40 I am paying in 2023 is sleep well insurance knowing that I don't have to jack around with the government. I just finished a couple months hassle getting IRMAA waived since our 2021 t...
by huskerblue
Fri Oct 27, 2023 8:57 am
Forum: Personal Investments
Topic: Where/How to buy 10 year Treasury Note?
Replies: 16
Views: 3018

Re: Where/How to buy 10 year Treasury Note?

Last point on Ishares, they were created at a time when interest rates were lower so a fair amount of your total return at full etf maturity will be capital gains versus interest payments along the way.
by huskerblue
Fri Oct 27, 2023 8:31 am
Forum: Personal Investments
Topic: Where/How to buy 10 year Treasury Note?
Replies: 16
Views: 3018

Re: Where/How to buy 10 year Treasury Note?

If you don’t mind paying 7 basis points per year you can consider using the Ishares Ibonds. The advantage is simplicity of the etf purchase or sale and since they own numerous bonds that come due in 2033 you get monthly interest if that helps with a spending plan.

Most here would likely not be interested in spending 7 bps per year but you might look at it as a convenience fee. The older I get the easier I want things.

You can build a ladder in no time as well.

They have also started a TIPS line but those only have seed money in them right now so they need to mature a bit before being viable IMO.

https://www.ishares.com/us/strategies/b ... nd-ladders
by huskerblue
Thu Oct 26, 2023 9:08 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2023 software offer
Replies: 246
Views: 38134

Re: H&R Block 2023 software offer

My email deal was $29 for Deluxe plus state. Good enough for me as I like to start noodling with numbers as early as possible to determine if any end of year strategies are in order.

I had used HRB for years but tried TurboTax last year just because (verdict: not worth the extra $) so I wonder if they threw me a bit better deal due to breaking the string of years I used HRB.
by huskerblue
Thu Jun 24, 2010 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: A question of trustee succession
Replies: 123
Views: 19607

Intruder and JDCPA are on point.

The issues raised by some here show a lack of a grasp of the magnitude of the duties presented in a fiduciary situation.
by huskerblue
Tue Aug 25, 2009 7:01 pm
Forum: Investing - Theory, News & General
Topic: Swedroe new book, question on international REITS
Replies: 57
Views: 11241

Have I missed something? A thread about int'l REIT's and no mention of RWX?
by huskerblue
Mon Aug 24, 2009 11:05 pm
Forum: Investing - Theory, News & General
Topic: The Decumulation Phase
Replies: 138
Views: 70862

I'm into it a ways and it is interesting but so far for a guy who is out to show the variability of all things investing and debunking myths, he sure is intent on showing static withdrawal rates to prove his reality for all his average Joe's.

I have yet to meet an old person who, in the face of a declining portfolio, keeps ramping up his withdrawals cause, well, damn it, that's my plan. They will eat more rice and beans at home and less dinners out long before they get to $100,000 left in the kitty but by god, I'm upping my WD's to $74,650 this year!!!
by huskerblue
Sun Aug 23, 2009 12:18 pm
Forum: Investing - Theory, News & General
Topic: The Decumulation Phase
Replies: 138
Views: 70862

Okay, so I'm computer challenged. :oops: I downloaded the book but now I can't find it on my computer. Advice?

Thanks.
by huskerblue
Fri Feb 13, 2009 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Bill Amending the Estate Tax
Replies: 12
Views: 2529

Re: No more need for bypass trusts?

chaz wrote:
Rick Ferri wrote:
Taylor Larimore wrote:Fishndoc:
I believe this portion would mean there would no longer be a need to do a bypass trust to claim the credit for the first deceased spouse.


I'll guess lawyers are already contacting their lobbyists to be sure this won't happen.
Along with the insurance industry.
Rick, why would the insurance industry care about this tax bill?
Insurance is often used as wealth replacement with the policy owned by the kids or, preferably by an irrevocable life insurance trust.
by huskerblue
Mon Jan 19, 2009 11:51 am
Forum: Personal Investments
Topic: New type of CD? (over 60)
Replies: 8
Views: 2257

Interesting concept.

A reminder though that any CD can be broken but you forfeit some interest if you do so. How much would be spelled out in the contract but 3 months is typical for what I have seen.
by huskerblue
Sat Jan 17, 2009 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone been debt-free and not liked it?
Replies: 65
Views: 18145

Paid off house after 7 years in July 2007. Laid off from job in August 2008. Wife's job brings in enough to cover ALL bills after pulling back on 401(k) contrib to just enough to get full match, less dinners outs, less silly spending, etc. Received a couple offers on jobs that weren't what I really wanted but had I not been debt free I likely would have taken because eating beats not eating. Now on the cusp of getting a GREAT job doing EXACTLY what I want to do because I had the ability to wait for it.

Real life stories are always good teachers.
by huskerblue
Wed Jan 14, 2009 5:25 pm
Forum: Investing - Theory, News & General
Topic: The New Paranoia: Hedge-Funders Are Bullish on Gold, Guns, a
Replies: 20
Views: 3325

Three words:

Hale Bopp comet.
by huskerblue
Wed Jan 14, 2009 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Is inherited money taxable?
Replies: 20
Views: 9073

On the stump during the election, McCain called for a $5 mill levl and Obama for a $3.5 mill level. Ho nws hat well get but Obama's desire may win the day.

One thing's for sure, total repeal for one year and then a return to $1 mill will not stand.
by huskerblue
Wed Jan 14, 2009 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Is inherited money taxable?
Replies: 20
Views: 9073

Re: Is inherited money taxable?

How is cash received as an inheritance taxed? Not as income, but perhaps as something else? A number of years ago, the father of a friend of mine died. He was a farmer and passed the farm on to one of his sons. The other children were to receive cash as their share of the estate, but because there wasn't enough liquid cash, they got promissory notes. Now, the son who received the farm is selling out, so there will be enough cash generated to make these promissory notes to the other family members payable. When my friend receives her money, does she owe tax on it? She never owned or was involved in the farm; this is strictly a cash inheritance on her part. Thanks. Taxes on inheritances are covered by the estate tax, which taxes the estate a...
by huskerblue
Wed Jan 14, 2009 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Is inherited money taxable?
Replies: 20
Views: 9073

Although there are INCOME taxes due for recipients on inheritances in the final tax year of the estate (or prior years if partial distribs are made), if the Executor does their job right, the EXPENSES of the estate in that same fiscal year pour out to the benes too so you can receive a substantial inheritance AND have an income tax loss. :D This is best achieved if the estate can get wrapped up within a year. On larger estates, this can prove to be impossible as an executor has to wait for their estate tax okie dokie letter from IRS. Soooooo, there are many determinations to be made by the executor as to when to time expense payments (attorney fees, accounting fees, appraisal fees, their own fee, etc) in relation to income and in relation t...