Search found 106 matches

by Zombies
Thu Sep 24, 2020 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Wife Quitting High Earning Job?
Replies: 56
Views: 8327

Re: Wife Quitting High Earning Job?

Having gone through the terminal illness situation with a parent recently, I wish I had taken more time off and spent more time with them. I hear what you’re saying about “there’s a limit,” but even so (and while they were often not even aware I was there), despite the extensive time I took off work...
by Zombies
Tue Aug 25, 2020 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Fund Reports mailings
Replies: 10
Views: 795

Re: Vanguard Fund Reports mailings

Update: I spoke to my Vanguard rep, and he suggested that I switch everything to Postal Mail, submit it, and then switch everything back to e-delivery and re-accept the global consent degree for e-delivery. I wonder if there is a bug in the system where it doesn't think the e-delivery is consented t...
by Zombies
Sat Aug 22, 2020 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Fund Reports mailings
Replies: 10
Views: 795

Re: Vanguard Fund Reports mailings

Zombies, I can't remember how I did it, but years ago I went to email notifications of fund reports/prospectus changes and that eliminated the paper reports. Just looked: Sign on to your account. Edit: personal.vanguard.com Highlight My Accounts. Click Service Options Checklists. This will take you...
by Zombies
Sat Aug 22, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Fund Reports mailings
Replies: 10
Views: 795

Vanguard Fund Reports mailings

As someone in tech, I am mystified that I am unable to solve this -- but I'm hoping some of you have! I get these thick packets of "Mutual Fund Reports" every quarter (I believe). On the mailing, it says you can go to fundreports.com to stop the mailings, or call a number. Each thick maili...
by Zombies
Mon Aug 10, 2020 12:27 am
Forum: Personal Finance (Not Investing)
Topic: Short-term loan to avoid realizing capital gains?
Replies: 10
Views: 804

Re: Short-term loan to avoid realizing capital gains?

Deferred taxes have a value - how much, you have to make assumptions, and the. you can game plan it out. Short term loans have a cost - how much, you can easily determine. If cost of short-term loan < deferred tax value, then sure, you “could” do that. You can also re-mortgage your house with a cash...
by Zombies
Sat Aug 08, 2020 3:23 am
Forum: Personal Finance (Not Investing)
Topic: Charitable giving in an estate will/trust
Replies: 12
Views: 734

Re: Charitable giving in an estate will/trust

We are above the limit now, but I’m hoping to come up with a durable strategy as it’s unclear whether the limit will go down, stay the same, or disappear in the future. Good point on it depending on a lot of factors including the heirs’ income, but that’s indeterminable now, yet it doesn’t mean we s...
by Zombies
Fri Aug 07, 2020 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable giving in an estate will/trust
Replies: 12
Views: 734

Re: Charitable giving in an estate will/trust

Thanks - yes, of course I’ll consult my attorney but at his rates it’s nice going in informed.

Makes sense about not being able to legally require it, but if the heirs are trustworthy, is the logic sound - they would get the full tax deduction of whatever is left after estate tax?
by Zombies
Fri Aug 07, 2020 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable giving in an estate will/trust
Replies: 12
Views: 734

Charitable giving in an estate will/trust

I’m planning to revise my trust shortly and have a question regarding charitable giving. I haven’t often heard of leaving two chunks of money to heirs - money designed for them, and money designed for charity. Instead, estates usually seem to give some amount to charity, with the rest going to the h...
by Zombies
Fri Aug 07, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to structure inheritance/trust
Replies: 46
Views: 3506

Re: How to structure inheritance/trust

We structured our trust so that our offspring can access reasonable money at our trustee’s discretion, as long as they are a “productive member of society.” IIRC, this was defined as employed either at a for-profit or non-profit, not having a criminal record, etc. while in their 20s-early 30s. I don...
by Zombies
Mon Jul 06, 2020 5:23 pm
Forum: Personal Consumer Issues
Topic: Replacing odd-depth washer/dryer
Replies: 20
Views: 912

Re: Replacing odd-depth washer/dryer

We had this problem too, almost with the same dimensions. We ended up getting a standard washer / dryer and you just can’t close the two doors any more — at first it really bothered me but I’m not in the laundry room very much so it faded from bother :) Seems like such an odd decision from the previ...
by Zombies
Mon Jun 29, 2020 8:50 pm
Forum: Personal Consumer Issues
Topic: Vacation Rental Refund Disagreement
Replies: 30
Views: 2448

Re: Vacation Rental Refund Disagreement

I’m surprised at the suggestions that you take this on the chin. In good faith, you asked if you were agreed upon terms, and it appears you were (based on your side of the story). I imagine the credit card company will agree - at least with Amex, I have found them very easy to work with on disputes ...
by Zombies
Mon Jun 29, 2020 7:28 pm
Forum: Personal Consumer Issues
Topic: Best watch for $5,000+
Replies: 127
Views: 10587

Re: Best watch for $5,000+

Steel anything can be worn with anything. There used to be a distinction on bezel size for what you’re doing, but the whole world is casual now so all steel sizes are really fine for dressed up or dressed down in shorts and flip flops. I wear my nautilus with both a rare suit or jeans and a T. Rubbe...
by Zombies
Fri Jun 19, 2020 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up and Managing a Private Foundation
Replies: 42
Views: 1602

Re: Setting up and Managing a Private Foundation

As said above, this really seems too small for a PF. My father wanted to leave $2-3M for his kids to direct in a PF, and after researching this I have strongly urged him to do so to a DAF instead upon which we can recommend distribution according to his wishes. You lose some flexibility but it is fa...
by Zombies
Tue Jun 16, 2020 7:59 pm
Forum: Personal Consumer Issues
Topic: Best watch for $5,000+
Replies: 127
Views: 10587

Re: Best watch for $5,000+

In the ~$5,000 range, a Breitling Navitimer chronograph works well. I’m not a fan of Breitlings in general, but I started there as my watch education progressed with a Superocean Steelfish 20 years ago, and the Navitimer still has timeless appeal. There are lots of different models that range from $...
by Zombies
Sat Jun 13, 2020 1:35 am
Forum: Personal Consumer Issues
Topic: What fun car should I get in the $150k - $200k range?
Replies: 499
Views: 31574

Re: What fun car should I get in the $150k - $200k range?

How is model X even an option? It's a big ugly heavy car. It's the opposite of everything a fun car should be. Did I mention ugly? It's inferior even in the land of electric SUVs in terms of quality and comfort. Read the reviews against e-tron. The Model X Performance is very fast, and fantastic fo...
by Zombies
Wed Jun 03, 2020 1:34 am
Forum: Personal Consumer Issues
Topic: Looking for some information on Italy trip
Replies: 24
Views: 1371

Re: Looking for some information on Italy trip

Venice gets a bad rap for being so touristy, and I can’t argue that there aren’t hordes of tourists there. But there is also a ton of charm in Venice, and it’s truly a unique location. We got a private guide for a walking tour that took us off the regular paths down streets where there were no touri...
by Zombies
Thu May 28, 2020 2:24 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 18670

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

I was an East Coast public school kid until mid-middle school when my parents forced me into private against my will. Looking back, the private education did give me access to lots of great opportunities (I took “Dante” instead of English one semester in high school), but it also stuck me in a mostl...
by Zombies
Thu May 21, 2020 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax attorney weirdness
Replies: 40
Views: 3436

Re: Tax attorney weirdness

There’s really not much to be done, and this site pretty much covers it all through various threads. You max out available retirement space (both pre- and post-tax) you do a mega-backdoor rollover if you can, you give appreciated stock to charity (for many people, a DAF makes sense here) in years of...
by Zombies
Sun Apr 26, 2020 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Interest only mortgage: the conservative choice?
Replies: 87
Views: 8786

Re: Interest only mortgage: the conservative choice?

B of A. Involved moving some assets to Merrill (which just ended up being part of one of my Vanguard funds), and leaving it there for 9 months nets me $7500 which more than covers closing costs too. The rate was due to heavy competition between two lenders going back and forth, and then the asset-m...
by Zombies
Sun Apr 26, 2020 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Interest only mortgage: the conservative choice?
Replies: 87
Views: 8786

Re: Interest only mortgage: the conservative choice?

B of A. Involved moving some assets to Merrill (which just ended up being part of one of my Vanguard funds), and leaving it there for 9 months nets me $7500 which more than covers closing costs too. The rate was due to heavy competition between two lenders going back and forth, and then the asset-mo...
by Zombies
Sun Apr 26, 2020 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Interest only mortgage: the conservative choice?
Replies: 87
Views: 8786

Re: Interest only mortgage: the conservative choice?

I took out a $1M IO-5/1 ARM at 2.125% a few months back. I wanted to maximize tax efficiency but the actual savings/money involved isn’t huge, and so I do wonder sometimes whether I should have just paid it off or taken a fixed loan in the mid-2s. My monthly payment did drop to peanuts though, and w...
by Zombies
Sat Apr 25, 2020 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus Check for Person Who Died in 2019
Replies: 27
Views: 3084

Re: Stimulus Check for Person Who Died in 2019

I wish I had a source for you all, but I read an article a week ago about a man whose partner had died in early 2019 and he still got a check for him. Because the deceased had filed for 2018, even though he didn’t file for 2019 the government still sent him a check. The conclusion of the article was...
by Zombies
Mon Apr 20, 2020 8:21 pm
Forum: Personal Consumer Issues
Topic: BMW X5 - advice on purchase
Replies: 49
Views: 3199

Re: BMW X5 - advice on purchase

We owned one. Liked the car a lot, but just as others have said, got stuck with a 5 figure bill outside of warranty. Sold it, bought a Tesla Model X and never looked back.

I used to drive a BMW M3 — similar situation, liked the car a lot, repairs were often and expensive. Wouldn’t buy another BMW.
by Zombies
Mon Feb 10, 2020 4:37 am
Forum: Personal Consumer Issues
Topic: Retirement: Filling the time?
Replies: 96
Views: 10667

Re: Retirement: Filling the time?

I made a long spreadsheet of things I wanted to try, along with how badly I was interested in them, how much it would cost/how long it would take to get to proficiency, and links to providers. Some of them I completed were quick - like a survival camp - while others were major investments (I got my ...
by Zombies
Wed Feb 05, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Individual with Little Income Seeks Mortgage
Replies: 32
Views: 4947

Re: High Net Worth Individual with Little Income Seeks Mortgage

Posters have mentioned low-doc, no-doc, and "no income verification" mortgage loans. This type of lending was at the heart of the Great Financial Crisis. Obtaining a mortgage loan without income verification may prove difficult. This practice is barred, in general, by Section 1411 of the ...
by Zombies
Wed Feb 05, 2020 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Individual with Little Income Seeks Mortgage
Replies: 32
Views: 4947

Re: High Net Worth Individual with Little Income Seeks Mortgage

I refinanced with Bank of America in this situation a few months ago despite no income. It was called an “asset depletion” loan. It was no problem, and other banks like First Republic were fine with it also. The rate wasn’t any higher than otherwise - I ended up with a 2.15% IO 5-year ARM. Didn’t ev...
by Zombies
Sat Feb 01, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Who would you refinance your mortgage with?
Replies: 45
Views: 5357

Re: Who would you refinance your mortgage with?

After you get through the process and set up autopay, you’ll never talk to them again. Find the best rate, check reviews / referrals to make sure they’re not a scam, and pull the trigger. Can’t go wrong with any of the “reputable” companies, and play multiple ones off each other so they compete and ...
by Zombies
Thu Jan 09, 2020 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Job change and possible resulting stress/IBS
Replies: 18
Views: 1536

Re: Job change and possible resulting stress/IBS

I’ve had stomach issues ever since college, and I always figured they were stress related. I semi-retired recently, and my stress levels have gone to zero. Stomach issues? Gone. Other likely-stress induced problems (headaches, etc.)? Gone. It’s amazing how radically different my health feels. I thou...
by Zombies
Wed Jan 08, 2020 3:02 am
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

Another matter to consider is that you may need to coordinate with your niece's family if / when the 529 funds are used for educational expenses. My son has a parent funded 529 and also grandparent :P funded 529 accounts. We are also eligible for the American Opportunity Tax Credit. (Hopefully the ...
by Zombies
Tue Jan 07, 2020 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Settle an argument: how will the IRS view mortgage interest deduction for mid-year mortgage?
Replies: 10
Views: 930

Re: Settle an argument: how will the IRS view mortgage interest deduction for mid-year mortgage?

There’s no theoretical max interest paid. His actual interest paid * (750k / 1.5M mortgage) is how I believe the deduction will work, but IANAA.
by Zombies
Tue Jan 07, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

Because tax-free growth is better than taxable growth. On a 12 year horizon that’s substantial. In addition, having it be dedicated for someone else is important for their future planning vs a light promise.
by Zombies
Tue Jan 07, 2020 1:24 am
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

But why do that instead of letting the contributions be a base to continue growing tax-free? I won’t be anywhere near retirement age when I need this money. I’d rather allow the mega-backdoor principal to continue growing. The 529 is just like another Roth IRA, except it can be taken out significant...
by Zombies
Tue Jan 07, 2020 12:46 am
Forum: Personal Finance (Not Investing)
Topic: 529 Gift tax exclusion - MFJ, 2 kids
Replies: 3
Views: 398

Re: 529 Gift tax exclusion - MFJ, 2 kids

You can "superfund" a 529 with up to $75K (per spouse, I think), and declare the gift over 5 yrs for tax purposes. It wouldn't count against the lifetime gift tax limit, but you would need to file paperwork with your taxes to declare the gift. https://www.savingforcollege.com/article/how-...
by Zombies
Tue Jan 07, 2020 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

Are you married? Do you think your son will resent that you are giving money to your niece and not him when the time comes? Have you also considered that you may not like your sibling's family in 10 years? It's one thing to want to help an 8 year old but when she says she wants to take underwater b...
by Zombies
Mon Jan 06, 2020 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

Sure, my job is just to provide a sprinkle of opportunity. Ultimately there are a ton of variables that will determine where she ends up. Regardless, thanks everyone for the advice, this seems clear to me now. Love this site.
by Zombies
Mon Jan 06, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Re: Creation details of a 529 for a niece

I’m planning on $5,000 or $10,000, haven’t decided yet. Since she’s still over a decade away from college I feel like this could be a sizable burden off her parents’ shoulders who are great people who have been dealt a series of bad cards. The tax-free growth of the 529 makes this a no-brainer for t...
by Zombies
Mon Jan 06, 2020 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Creation details of a 529 for a niece
Replies: 32
Views: 1532

Creation details of a 529 for a niece

Hey brain trust — I have a young niece whose parents are not well off and unable to work (through no fault of their own). For her birthday, I’ve decided to start a 529 with a sizable amount to help lessen the burden of future college. My research shows that a 529 not held by parents or the student t...
by Zombies
Tue Dec 31, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Find Tax Basis in Vanguard for Past DAF Donations?
Replies: 22
Views: 863

Re: Where to Find Tax Basis in Vanguard for Past DAF Donations?

I went through something similar though I needed the cost basis for a different reason. Vanguard’s advice to me was they keep all transaction histories, so even if it wasn’t in a column somewhere, I _was_ able to go back and find the purchase history which gave me the cost basis of a security no lon...
by Zombies
Tue Dec 31, 2019 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Find Tax Basis in Vanguard for Past DAF Donations?
Replies: 22
Views: 863

Re: Where to Find Tax Basis in Vanguard for Past DAF Donations?

With the date it’s trivial to look up the cost of the security for that time. A simple google search will lead you where you need to go. If I remember correctly there’s some debate between the deductive basis being either the date it’s transferred out or the date received, so I got advice once you c...
by Zombies
Tue Dec 10, 2019 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Tax Advisors
Replies: 6
Views: 740

Re: Tax Advisors

I struggle with this. For years I did it by myself, but when things got a little complicated and I had very high income, I switched to using an advisor. Tbh out of fear of being charged for additional questions, I just have been having them do it without much interaction beyond basic taxes. Now that...
by Zombies
Mon Dec 09, 2019 2:54 am
Forum: Personal Finance (Not Investing)
Topic: Individual insurance vs COBRA (and HDHP vs Platinum)
Replies: 8
Views: 576

Re: Individual insurance vs COBRA (and HDHP vs Platinum)

That’s right. My company’s plan was self-funded so they said they chose not to participate.
by Zombies
Sun Dec 08, 2019 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: how much house can one afford? what's reasonable.
Replies: 22
Views: 1450

Re: how much house can one afford? what's reasonable.

Then this is really easy. You are likely generating $150-250k in taxable savings. Save for a year then buy this type of house. If something goes horribly wrong on a micro level (you lose your job), you’re not locked in. If something goes wrong on a macro level, you buy the house for significantly ch...
by Zombies
Sun Dec 08, 2019 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: how much house can one afford? what's reasonable.
Replies: 22
Views: 1450

Re: how much house can one afford? what's reasonable.

I don’t think this is primarily an “income” question. If you have $2M-4M saved, your income can be less than if you have $750k saved. If you’re asking about only putting 10% down, I fear it’s closer to the latter. Without additional information, I would say it’s extremely risky to buy such a house i...
by Zombies
Sun Dec 08, 2019 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Individual insurance vs COBRA (and HDHP vs Platinum)
Replies: 8
Views: 576

Re: Individual insurance vs COBRA (and HDHP vs Platinum)

When I quit my job and decided to take extended time off, I compared some options. I ended up just taking COBRA and will keep it for the 18 months (even though I’m in California, the extension to 36 months is optional and my company doesn’t participate). Coverage for my family for medical, dental, a...
by Zombies
Wed Nov 13, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Collection Calls Right After Death
Replies: 35
Views: 3197

Re: Collection Calls Right After Death

Yes, after recent deaths in the family we had this happen - not for debt collection, but people saying they knew the deceased and asking for money to get to the funeral/other items. These people are bottom-feeder scam artists who search for death announcements and prey on families in grief. It’s sic...
by Zombies
Mon Nov 04, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a mortgage after retirement
Replies: 24
Views: 1822

Re: Getting a mortgage after retirement

I've read that BOA does asset depletion mortgages. Any idea what percentage they used to impute income? I don’t want to mislead, but what I _think_ I heard was they take your assets, cut them in half, and then do 4%. So it’s essentially 2%, with a roundabout way of saying “even if the market went d...
by Zombies
Mon Nov 04, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a mortgage after retirement
Replies: 24
Views: 1822

Re: Getting a mortgage after retirement

And what type of assets youcan use. If you look at the Kiplinger link, it's basically anything you can get your hands on. So if you're vested and can withdraw something, that counts. IRAs, etc. Thank you. I am thinking of a different condo within the next two years or so. Yes, they considered my ta...
by Zombies
Mon Nov 04, 2019 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Getting a mortgage after retirement
Replies: 24
Views: 1822

Re: Getting a mortgage after retirement

I've read that BOA does asset depletion mortgages. Any idea what percentage they used to impute income? I don’t want to mislead, but what I _think_ I heard was they take your assets, cut them in half, and then do 4%. So it’s essentially 2%, with a roundabout way of saying “even if the market went d...
by Zombies
Sun Nov 03, 2019 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a mortgage after retirement
Replies: 24
Views: 1822

Re: Getting a mortgage after retirement

I recently closed on an “asset depletion” mortgage refinance from Bank of America. It was straightforward — they just wanted a couple Vanguard statements — and then applied some percentage of that as if I was making regular income through those assets (whether by dividends or withdrawals), regardles...
by Zombies
Sun Sep 29, 2019 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Does the price for this legal work seem reasonable?
Replies: 5
Views: 1160

Re: Does the price for this legal work seem reasonable?

I paid $10,000 for essentially that list (no 3 year review, but they did all the work to get my house retitled, for instance). I was happy with it. Went with a referral from a friend who had a complex estate, and felt like I was given sufficient care (they weren’t rushing me through it despite the $...