Search found 119 matches

by Norton750
Mon Jan 13, 2020 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Disclaiming tIRA as an estate planning tool
Replies: 4
Views: 539

Disclaiming tIRA as an estate planning tool

Background My wife and I are in our late 60's. We live in Massachusetts which has a $1M estate tax exemption (w/o portability) and a progressive estate tax that tops out at 16%. We have two unmarried independent adult children. We greatly appreciate simplicity in our financial affairs and would pre...
by Norton750
Thu Dec 26, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2019 on Amazon
Replies: 347
Views: 37247

Re: Turbotax 2019 on Amazon

TurboTax Deluxe w/ state is now at Amazon for $39.88. Mac or PC download or PC/MAC disk. I haven't checked, but Staples, etc. probably has the same pricing. This is the price pattern I have seen for a few years - just after Christmas the price drops by $10 (and usually stays there for the rest of fi...
by Norton750
Tue Dec 17, 2019 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 54
Views: 5832

Re: Has anyone been able to execute a Power of Attorney with Vanguard? UPDATE

tadamsmar wrote:
Mon Nov 18, 2019 1:42 pm

I guess you could use it once to set up Vanguard Agent Authorization for yourself if that is permitted.
Nope - the agent authorization form specifically forbids using a POA to sign the Vanguard form for someone else.
by Norton750
Mon Dec 02, 2019 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts and Step Up Basis
Replies: 29
Views: 1897

Re: Joint Accounts and Step Up Basis

OP here... This topic has turned out to be much more involved than I had ever imagined. After checking with multiple reps on Vanguard's "transition team" (the people who handle issues arising from the death of a shareholder), I think I now understand this better. For a Massachusetts married couple ...
by Norton750
Tue Nov 26, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts and Step Up Basis
Replies: 29
Views: 1897

Re: Joint Accounts and Step Up Basis

I think I like the tax treatment for community property states much better. Why didn’t those common law states follow the lead of “smarter” ones? :D Community property states run in a swoosh along the US border from Louisiana up through Washington (plus Wisconsin, for some reason). These states bas...
by Norton750
Mon Nov 25, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts and Step Up Basis
Replies: 29
Views: 1897

Re: Joint Accounts and Step Up Basis

My experience with a regular JTWROS account is that the brokerage steps up half the individual shares (this was in a non-community-property state). e.g if before death, the account had 100 shares of MSFT at orig basis $9 and if MSFT was worth $150 at date of passing, then it now has: 50 shares at c...
by Norton750
Mon Nov 25, 2019 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2019 on Amazon
Replies: 347
Views: 37247

Re: Turbotax 2019 on Amazon

I’ve had my CamelCamelCamel (https://camelcamelcamel.com/) search set to alert me to any TurboTax price drops below my target ($40) on Amazon for almost a month now. On Nov 6th, the price of Deluxe+State dropped from $59.99 to $49.99, but hasn’t yet reached my target. Fingers crossed... In my exper...
by Norton750
Mon Nov 25, 2019 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts and Step Up Basis
Replies: 29
Views: 1897

Joint Accounts and Step Up Basis

I have some observations and questions regarding joint property and step up basis. Let’s take an example of a married couple who are retired and living largely off of their investment portfolio in a taxable (non-retirement) account. The investments have been held for a long time and all shares have ...
by Norton750
Sat Nov 09, 2019 10:08 pm
Forum: Personal Investments
Topic: Bonds in your taxable - any examples?
Replies: 10
Views: 1102

Re: Bonds in your taxable - any examples?

Here's an example from the White Coat Investor with some math based on 2014 returns and some simplifying assumptions: https://www.whitecoatinvestor.com/asset-location-bonds-go-in-taxable/ His model uses just a taxable account and a Roth IRA (no traditional IRA). His numbers show a real difference th...
by Norton750
Sat Nov 02, 2019 11:48 am
Forum: Investing - Theory, News & General
Topic: Placing a variable annuity in a living trust?
Replies: 7
Views: 840

Re: Placing a variable annuity in a living trust?

Be aware that when a trust owns an annuity, if a "non natural person" eg a charity becomes the remainder or other beneficiary, the annuity will lose it's tax deferred status. Therefore, she should be careful when changing the beneficiaries of the trust. See attached article by Michael Kitces: https...
by Norton750
Wed Oct 30, 2019 4:09 pm
Forum: Investing - Theory, News & General
Topic: Placing a variable annuity in a living trust?
Replies: 7
Views: 840

Placing a variable annuity in a living trust?

My mother just established a revocable living trust and is preparing to move her assets into it. One asset she owns is a non-qualified variable annuity in her name which she plans to leave to her heirs. I’m wondering about the pros and cons of: A. Having the revocable trust become the owner of the v...
by Norton750
Sun Oct 06, 2019 12:26 pm
Forum: Personal Consumer Issues
Topic: Social Security Card as Identification for Real ID
Replies: 78
Views: 7112

Re: Social Security Card as Identification for Real ID

A few more gotchas that I noted (in Massachusetts): - They won't accept a laminated SS card (I had considered laminating mine at one point to preserve it). - Some proof of address documents needed to be 90 days old or less. This requirement was not spelled out on all of the different lists I saw for...
by Norton750
Fri Jul 19, 2019 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Step up basis / joint property questions...
Replies: 7
Views: 1233

Re: Step up basis / joint property questions...

Thanks to all who responded...
by Norton750
Thu Jul 18, 2019 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Step up basis / joint property questions...
Replies: 7
Views: 1233

Re: Step up basis / joint property questions...

Excellent! (Excellent response, not excellent news.)

There had to be a catch - thanks for the link.
by Norton750
Thu Jul 18, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Step up basis / joint property questions...
Replies: 7
Views: 1233

Step up basis / joint property questions...

Help me to better understand how the step up basis works for jointly held property and what the implications are. Hopefully some posters with real-life experience will respond. Question #1: If a married couple has a joint account at Vanguard and one spouse dies, then half of the assets in the accoun...
by Norton750
Sun Jun 23, 2019 11:56 am
Forum: Personal Consumer Issues
Topic: Prius vs Prius Prime (plug-in)
Replies: 78
Views: 5287

Re: Prius vs Prius Prime (plug-in)

Last year at this time, my wife purchased a new left-over 2017 Prius Prime. At that point, it was a screaming deal - $13K below MSRP because of the Toyota discount, the dealer discount and the government (Federal and MA state) incentives. It's a Prius Prime Premium, the middle trim level - and it al...
by Norton750
Sat May 18, 2019 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: A nudge: Shop your insurance around!
Replies: 10
Views: 1353

Re: A nudge: Shop your insurance around!

HEDGEFUNDIE wrote: If your current insurance company does not appear “loyal”, it’s likely because something has changed about your profile or its pool of insured such that you are no longer a positive contributor to the equation above. And hence my suggestion that if an insurance company cares to t...
by Norton750
Sat May 18, 2019 9:48 am
Forum: Personal Finance (Not Investing)
Topic: A nudge: Shop your insurance around!
Replies: 10
Views: 1353

A nudge: Shop your insurance around!

This is a note for those of you who haven’t shopped your personal insurance around lately. My policies are homeowner’s, umbrella liability, 2 autos and a motorcycle. I had been with my old insurance company for years (decades!) and had made very few claims. I have ended up with so many “discounts” f...
by Norton750
Sat Mar 02, 2019 8:55 pm
Forum: Personal Consumer Issues
Topic: Home DIY - increasingly complex repairs and cost savings by DIY
Replies: 38
Views: 3378

Re: Home DIY - increasingly complex repairs and cost savings by DIY

I'm not that adventurous about actual home repair, but I've had very good luck with appliance repair. Latest one was a leaking washing machine that I was quoted $350 or more to fix. A couple of YouTube videos, $90 worth of factory parts from Amazon and a bit of cursing - and it was good to go. In th...
by Norton750
Sat Sep 29, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Safe harbor / Withholding question
Replies: 7
Views: 853

Safe harbor / Withholding question

My question is whether or not the following situation might result in an underpayment penalty from the IRS. • The only income received for the year is from Social Security benefits ($30K) and RMDs from a traditional IRA ($50K). $80K total income. • No estimated taxes are paid. • The monthly Social S...
by Norton750
Wed Jul 04, 2018 11:03 am
Forum: Personal Consumer Issues
Topic: hybrid or plug-in electric car
Replies: 106
Views: 10213

Re: hybrid or plug-in electric car

In the 14 or so CARB states, the battery for an EV or plug-in hybrid must be warrantied for a minimum of 10 years or 150K miles, I believe. If you live anywhere in the northeastern US, you may want to (quickly) check for incentives and availability of new 2017 Toyota Prius Primes in your area. The P...
by Norton750
Sun Jun 10, 2018 2:01 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9437

Re: What commuter car provides the best long term financial value?

RE: Not being able to plug in the Prime EV/hybrid: In my region, the plug-in Prime currently costs $11K less than the equivalent non-plug-in Prius (net of all incentives). And if you never plug it in, it still gets 54 mpg burning gasoline, which is 2 mpg better than a new non-plug-in Prius. Same 11....
by Norton750
Sun Jun 10, 2018 1:34 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9437

Re: What commuter car provides the best long term financial value?

Is the 240 better or more efficient? (cost) Or, is it just the speed of recharging with 240? I believe the 240 is more efficient (and certainly is twice as fast) - but I have not seen anything definitive on this, despite browsing a couple of different threads on this in different forums. My electri...
by Norton750
Sun Jun 10, 2018 10:52 am
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9437

Re: What commuter car provides the best long term financial value?

If your home is on the electric grid you should be OK. Any typical 15 amp 110 volt wall socket will do, nothing special is needed - just like you would use to plug in any sort of power tool or work light. You can get fancy and put in a 240 volt charger, but it's not at all necessary for this car. An...
by Norton750
Sat Jun 09, 2018 6:08 am
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9437

Re: What commuter car provides the best long term financial value?

stoptothink wrote: Anybody who purchases a hybrid with the rationale that it is the cheapest form of transportation is just like someone buying more home because a larger mortgage equals a larger tax write-off. The numbers just don't make sense. And, again, having put several thousand miles on both...
by Norton750
Thu Jun 07, 2018 2:20 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9437

Re: What commuter car provides the best long term financial value?

I don't know where the OP resides, but it might be worth considering the following if a purchase is happening soon: My wife recently bought a new 2017 Prius Prime Premium model (the middle trim level of the plug-in Prius). The dealer pricing looks like this in MA: $30,000 MSRP + destination + a few ...
by Norton750
Thu May 17, 2018 8:06 pm
Forum: Personal Consumer Issues
Topic: Prius Prime Looks Interesting...Price is Very Attractive
Replies: 30
Views: 10360

Re: Prius Prime Looks Interesting...Price is Very Attractive

My wife did recently buy a new 2017 Prius Prime (the Prius plug-in model)...and indeed the price was very attractive. Our new Prime is a "Premier" trim, the middle of three Prime trims. The Prime is attractively priced compared to the non-plug-in Prius Three Touring, the closest non-plug-in Prius ma...
by Norton750
Wed Jan 24, 2018 2:38 pm
Forum: Investing - Theory, News & General
Topic: Portfolio size needed to reach each tax bracket in retirement
Replies: 19
Views: 3557

Re: Portfolio size needed to reach each tax bracket in retirement

This qualifies as a nit, but if the married couple being profiled is age 65 or greater, their standard deduction is $26,600, not $24,000.
by Norton750
Thu Nov 30, 2017 11:58 am
Forum: Investing - Theory, News & General
Topic: Mutual Fund Dividend Trivia [qualified vs non-qualified]
Replies: 3
Views: 465

Mutual Fund Dividend Trivia [qualified vs non-qualified]

I recently learned that you can transform qualified dividends paid from a mutual fund into non-qualified dividends if your holding period for the fund is too short. At the federal level, qualified dividends are taxed at the (lower) capital gains rate and non-qualified dividends at the (higher) ordin...
by Norton750
Wed Aug 02, 2017 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 6504

Re: Will/Trust Plan Thoughts?

More trust questions that have occurred to me: My wife and I hold considerable assets in taxable, traditional IRAs and Roth IRAs and I assume assets from each of these three sources would pass to both of our children. In an earlier response in this thread, bsteiner made reference to a "parallel set ...
by Norton750
Mon Jul 31, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 6504

Re: Will/Trust Plan Thoughts?

bsteiner - Thanks very much for the info and the reference to your paper.
by Norton750
Sun Jul 30, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 6504

Re: Will/Trust Plan Thoughts?

To those who maintain that there is little or no cost or complication involved in leaving assets to a child in trust rather than outright: Over 75% of the assets owned by my wife and I are in tax-deferred IRA accounts. I'm guessing that many others also have large percentages of their assets in tax-...
by Norton750
Wed Dec 28, 2016 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax Deluxe on sale at Amazon
Replies: 49
Views: 8147

TurboTax Deluxe + state now below $40 at Amazon

As has happened for each of the past few years, on December 28 (today) Amazon has dropped the price for the TT Deluxe + state disk version some $10 to $39.86. I haven't checked, but this same drop is often seen at Costco, etc. at the same time. I set a CamelCamelCamel alert on TT every year and Dece...
by Norton750
Tue Dec 20, 2016 11:40 am
Forum: Personal Consumer Issues
Topic: Garage door gets stuck when opening/closing
Replies: 34
Views: 8025

Re: Garage door gets stuck when opening/closing

A couple of times, I've had one of the wheels positioned above the door wear out. The cable supporting the door runs on this wheel, so it is under stress. The wheels are made of two sides which are riveted together to form a wheel. Eventually the cable actually wears a groove in the center of the wh...
by Norton750
Sun Nov 27, 2016 8:04 am
Forum: Personal Consumer Issues
Topic: Question on magazine subscription economics
Replies: 12
Views: 2628

Question on magazine subscription economics

I just received a solicitation to subscribe to Rolling Stone magazine for a year for $3.89 from discountmags.com and I have a question for the forum - how does this make any sense economically? Rolling Stone is a 60-page, glossy color magazine that publishes 26 times a year - so it is on offer for l...
by Norton750
Mon Nov 07, 2016 2:34 pm
Forum: Personal Consumer Issues
Topic: Prius Prime Looks Interesting...Price is Very Attractive
Replies: 30
Views: 10360

Re: Prius Prime Looks Interesting...Price is Very Attractive

Responses to a variety of comments in this thread: Battery Type: Prime uses Lithium Ion batteries, not NIMH: http://fortune.com/2016/10/31/toyota-prius-prime-lithium-batteries/ . Toyota seems to feel that they have now mastered the technology sufficiently, esp. with the latest control software. I be...
by Norton750
Sun Nov 06, 2016 8:39 pm
Forum: Personal Consumer Issues
Topic: Prius Prime Looks Interesting...Price is Very Attractive
Replies: 30
Views: 10360

Re: Prius Prime Looks Interesting...Price is Very Attractive

No, I haven't really shopped the Volt - I just recently stumbled into this whole plug-in thing based on the Prime's pricing. But I will say that: - I'm a big fan of Toyotas and of the local dealer (based on experience) and not much of a fan of Chevys ( not based on experience, just general bad juju ...
by Norton750
Sun Nov 06, 2016 2:51 pm
Forum: Personal Consumer Issues
Topic: Prius Prime Looks Interesting...Price is Very Attractive
Replies: 30
Views: 10360

Prius Prime Looks Interesting...Price is Very Attractive

I plan to replace my 14 year old Camry next year (it's got more than a light-second* on the odometer). The Toyota Camry is due for a complete redesign next year and I'm interested to see how both the gas engine Camry and the Camry hybrid turn out. And though it comes as a bit of a surprise to me, I'...
by Norton750
Mon May 09, 2016 8:31 am
Forum: Investing - Theory, News & General
Topic: Classic Bernstein 2 — Choosing Portfolio Bond Duration
Replies: 42
Views: 9157

Re: Classic Bernstein 2 — Choosing Portfolio Bond Duration

Here's one BH who owns only Treasury funds (Short, Intermediate and TIPs) - purposely done for the reasons covered earlier in this thread: - I use bonds strictly as an an anchor for the equity side of the portfolio - If I want to take more risk in search of more return, I'll do so on the equity side...
by Norton750
Wed Apr 06, 2016 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Any states that tax Roth withdrawals?
Replies: 51
Views: 9834

Re: Any states that tax Roth withdrawals?

A few related comments: The RMD schedule for a non-spouse inheriting an IRA (Traditional or Roth) is not as favorable as the schedule for taking RMDs from your own traditional IRA, but a 60-year old can still stretch such an inherited IRA into their mid-80s. Basically the recipient looks up their li...
by Norton750
Tue Feb 23, 2016 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Considering $ impacts of a move from MA to NH
Replies: 12
Views: 8719

Re: Considering $ impacts of a move from MA to NH

psycoslowmatic: At the link you posted it also explains that a further $1,200 per person exemption is granted to anyone over 65. This is how I arrived at the $7,200 annual exemption for the two of us: (2400 * 2) + (1200 * 2) = 7200. As I said, RMDs approach for us, so $7,200 it is for us. And thanks...
by Norton750
Mon Feb 15, 2016 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Considering $ impacts of a move from MA to NH
Replies: 12
Views: 8719

Considering $ impacts of a move from MA to NH

I’m interested in opinions on the financial aspects of a potential move from MA to NH. I know there’s more to it than finances, but I'm concentrating on finances at this time. I’m retired and my wife will retire soon, so jobs are not an issue. We live in northern MA and will be downsizing soon to a ...
by Norton750
Fri Dec 18, 2015 11:30 am
Forum: Investing - Theory, News & General
Topic: Lowest cost Vanguard international fund for taxable account?
Replies: 13
Views: 2066

Re: Lowest cost Vanguard international fund for taxable account?

OP here. livesoft - Thanks for the quick and thorough response. Much appreciated. Since there doesn't appear to be an obvious tax efficiency winner, I will go with my original inclination of using Total International Index. I'm just as glad, since this is likely to be a step-up basis account to be i...
by Norton750
Thu Dec 17, 2015 8:07 am
Forum: Investing - Theory, News & General
Topic: Lowest cost Vanguard international fund for taxable account?
Replies: 13
Views: 2066

Lowest cost Vanguard international fund for taxable account?

I am looking to open a fairly broad-based Vanguard international fund in a taxable account. Not interested in ETFs. Normally I would just go with the Total International Index fund, but I do have a concern about expenses when including tax considerations. I know that there was a Tax-Managed Internat...
by Norton750
Wed Dec 16, 2015 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Gifting from a joint account
Replies: 2
Views: 551

Gifting from a joint account

If a single $28K gift is made to a child from a joint mutual fund account held by the parents, can it be assumed that the IRS will understand that $14K came from each parent, thereby staying within the individual $14K gift tax exclusion?

Nick
by Norton750
Sat Dec 12, 2015 6:32 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 630
Views: 89205

Re: Flaunt Your High-Mileage Car

2002 Toyota Camry, bought new, 188,000 miles
2009 Toyota Matrix, bought new, 87,000 miles
2004 Suzuki DL650, bought used in 2004 with 4,000 miles, now 40,000 miles
by Norton750
Tue Nov 03, 2015 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Social Security
Replies: 477
Views: 69376

Re: Changes to Social Security

My situation (just squeaking in before the door slams shut): DW’s FRA is in 2/2019 (she is now 62), my FRA is in 3/2016 (I am now 65). We will both delay taking our own SS benefits until we turn 70. As long as I file and suspend after reaching my FRA and before the end of the new law’s 180-day deadl...
by Norton750
Mon Sep 28, 2015 6:46 am
Forum: Personal Finance (Not Investing)
Topic: AB Trust Questions
Replies: 2
Views: 632

Re: AB Trust Questions

bsteiner - Thank you very much for taking the time to reply so thoroughly. I read both of your referenced articles and it's obvious that I have a lot more to learn. My comment about "downsides" has to do with the fact that although my wife and I have built up a sizable portfolio, we have managed to ...
by Norton750
Fri Sep 25, 2015 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: AB Trust Questions
Replies: 2
Views: 632

AB Trust Questions

My wife and I are not currently in any danger of paying any Federal estate tax (and yes, that could change in the future with the whims of Congress). But our state has an estate tax with an exemption of one million $ and no portability. Our estates are susceptible to state estate taxes and we are co...
by Norton750
Tue Sep 08, 2015 7:06 pm
Forum: Investing - Theory, News & General
Topic: Variable Option For Annuitizing a Vanguard Annuity
Replies: 4
Views: 1014

Re: Variable Option For Annuitizing a Vanguard Annuity

I wanted to follow up on this topic - it has a bit of a surprise ending. Although there are notes in this forum that touch on the topic, I was not aware that there is now a completely different payout option available to the beneficiaries of Vanguard (and many other) variable annuities: The "Non-Qua...