Search found 188 matches

by Nutmeg
Tue May 05, 2020 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage in 2 years or max out 401k
Replies: 34
Views: 1986

Re: Payoff Mortgage in 2 years or max out 401k

can you take the 150K (or a portion of it) and recast your mortgage? reamoritize loan across the remaining life with a lower payment. if you keep your payment the same though, you essentially accelerate the paydown. recasting is generally much less expensive than refinancing. Medic makes a good poi...
by Nutmeg
Tue May 05, 2020 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Title guy when buying a house
Replies: 17
Views: 1408

Re: Title guy when buying a house

I understand from extensive reading that title insurance company you choose matters whether the title company or an attorney handles the closing. Some title insurance companies will insure the gap between closing and recording, and some will not. For further reading, you might want to start here: ht...
by Nutmeg
Sat Apr 25, 2020 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 66
Views: 6955

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

Look into remote notarization or remote online notarization. Your state may support that. Make sure you have up-to-date information on your state because some states may have instituted it recently in response to the epidemic. I am assuming your relative is still competent. I guess there is no nota...
by Nutmeg
Sat Apr 25, 2020 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 66
Views: 6955

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

Idea that might be simpler and "good enough" or at least a bit better for the time being: Does the broker/agent that currently holds the relative's account already accept you as their agent? If yes, can you change this to a self-directed investment account, and make any needed changes to the invest...
by Nutmeg
Sat Apr 25, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 66
Views: 6955

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

Attorneys love to tout that everyone needs an attorney written POA. Sounds great until you try to use it in the real world. Most banks and investment companies don't want the legal liability that the attorney POA may have been replaced by another POA. That's why a trust for elderly folks in a facil...
by Nutmeg
Sat Apr 25, 2020 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 66
Views: 6955

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

Look into remote notarization or remote online notarization. Your state may support that. Make sure you have up-to-date information on your state because some states may have instituted it recently in response to the epidemic. I am assuming your relative is still competent. I guess there is no nota...
by Nutmeg
Sat Apr 25, 2020 1:28 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 66
Views: 6955

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

I also am facing difficulties associated with Vanguard’s refusal to accept an executed Durable POA drafted by an attorney in compliance with the Uniform Power of Attorney Act (which had been adopted in both Vanguard’s state and my relative’s state). I am writing to see whether anyone has updates due...
by Nutmeg
Fri Apr 17, 2020 9:41 pm
Forum: Personal Investments
Topic: Risks of transferring funds from one brokerage to another
Replies: 2
Views: 314

Risks of transferring funds from one brokerage to another

A relative has asked for advice. She should leave her expensive financial advisor for a variety of reasons, and I would like to advise her to move from him to Vanguard’s brokerage platform. She will consider this only if the process is easy for her. We would initiate this from Vanguard’s side, which...
by Nutmeg
Fri Mar 20, 2020 10:32 am
Forum: Personal Consumer Issues
Topic: Tipping in the time of Coronavirus
Replies: 39
Views: 3188

Re: Tipping in the time of Coronavirus

I been working for tips for the past 15 years off and on. If you order pizza delivery etc and don't have at least $2 please don't waste our time. Just pick it up. 100% of the delivery fee goes to the store (we don't get any of that) to pay our $4.73/hourly and we get reimbursed for mileage every 2 ...
by Nutmeg
Thu Mar 19, 2020 9:36 pm
Forum: Personal Consumer Issues
Topic: Tipping in the time of Coronavirus
Replies: 39
Views: 3188

Re: Tipping in the time of Coronavirus

I ordered groceries for delivery for the first time today. It is possible I will order takeout restaurant meals or takeout cappuccino , which someone would bring to my car, someday soon. The jobs of these employees have just become more dangerous. What do you recommend for tip amounts in these situ...
by Nutmeg
Thu Mar 19, 2020 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Coronavirus-related DAF donations
Replies: 3
Views: 229

Coronavirus-related DAF donations

How can I best use my DAF to make donations to reduce the effect or spread of the coronavirus? I am interested in making a donation in my local area or in the U.S. I am particularly concerned about lack of protective equipment for medical personnel, but I am not sure how my donation could help allev...
by Nutmeg
Thu Mar 19, 2020 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Is "cost basis NOT REPORTED to IRS" on Fidelity Tax statement accurate?
Replies: 19
Views: 904

Re: Is "cost basis NOT REPORTED to IRS on Fidelity Tax statement accurate?

THey are probably non-covered shares purchased before 2012, right? This is what brokerages have always done with non-covered shares. They were purchased before 2012, but I don't know what "non-covered shares" refers to. Is the number likely inaccurate, and if so, is it likely high or low? And do I ...
by Nutmeg
Thu Mar 19, 2020 7:07 pm
Forum: Personal Consumer Issues
Topic: Tipping in the time of Coronavirus
Replies: 39
Views: 3188

Tipping in the time of Coronavirus

I ordered groceries for delivery for the first time today. It is possible I will order takeout restaurant meals or takeout cappuccino , which someone would bring to my car, someday soon. The jobs of these employees have just become more dangerous. What do you recommend for tip amounts in these situa...
by Nutmeg
Thu Feb 27, 2020 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Help some first-timers with the home searching (and buying) process
Replies: 31
Views: 2497

Re: Help some first-timers with the home searching (and buying) process

I recommend finding your buyer’s agent first, and then asking your agent to recommend mortgage loan originators and inspectors to you. Your experienced agent will know which lenders can get the transaction done on time and which inspectors will do a good job. I am disappointed to read of advice sugg...
by Nutmeg
Sun Feb 23, 2020 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Catch 22 with Gold Medallion Requirement for Exercising POA for Father
Replies: 56
Views: 3710

Re: Catch 22 with Gold Medallion Requirement for Exercising POA for Father

If you can find a local bank or credit union for the signature guarantee, note that you will probably have to have an account with that financial institution for a minimum period of time (60 days was quoted to me) before the signature guarantee will be given. A Wells Fargo branch representative once...
by Nutmeg
Wed Feb 12, 2020 3:43 pm
Forum: Personal Investments
Topic: Dividend and CG Reinvestment in IRA after RMDs start
Replies: 2
Views: 302

Dividend and CG Reinvestment in IRA after RMDs start

Should an investor who is already taking RMDs from an IRA be reinvesting dividends and capital gains when: 1) the actively-managed mutual fund fees are high, and 2) some funds have redemption fees, and 3) it is likely that additional funds will have to be withdrawn for expenses beyond RMDs in the ne...
by Nutmeg
Wed Feb 12, 2020 2:36 pm
Forum: Investing - Theory, News & General
Topic: A Boglehead's Edward Jones Question
Replies: 46
Views: 4338

Re: A Boglehead's Edward Jones Question

Thanks, One Ping, for the information about financial advisors that don’t charge client management fees based on AUM! I have the same question as JBTX: Where exactly would you find the wrap fee, if one exists? I now have fourth quarter statements and don’t see anything that says “annual fee” or “wra...
by Nutmeg
Sun Feb 09, 2020 8:25 pm
Forum: Investing - Theory, News & General
Topic: A Boglehead's Edward Jones Question
Replies: 46
Views: 4338

Re: A Boglehead's Edward Jones Question

In any case, your friend's EJ advisor may convincingly deny the AUM fee exists, but it does. A relative told me that her financial advisor is advising her for free. She said that she told the advisor that 1 1/2 percent was too much, so it is free. I told her that I have never heard of a financial a...
by Nutmeg
Sat Feb 08, 2020 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 11986

Re: Couples w/ kids: What is/was the most expensive time period of your life?

For my family, high school was more expensive than college. High school expenses included private high school, costs of car (needed to get to high school), travel sports and coaching, visiting colleges in eight states, senior school trips, and church trips (including one to another country). It was ...
by Nutmeg
Sun Oct 27, 2019 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Flagship clients no longer have a personal rep
Replies: 48
Views: 4945

Re: Flagship clients no longer have a personal rep

Vanguard took away my personal rep (with no notice), and I am very disappointed. I recognize that many people don’t need or use personal reps, but that is not the case for me, perhaps because I often conduct business for someone else as attorney in fact. My personal rep was knowledgeable not just ab...
by Nutmeg
Tue Sep 24, 2019 8:44 pm
Forum: Investing - Theory, News & General
Topic: Personal Flagship Representaive Going Away
Replies: 131
Views: 15885

Re: Personal Flagship Representaive Going Away

He said that the "high" maintenance accounts would still have a personal assigned rep. He said basically clients who call in a lot or have a lot of messaging about their accounts. This has not been my experience. My accounts are probably more high maintenance than most because I have made some tran...
by Nutmeg
Thu Sep 19, 2019 10:39 pm
Forum: Personal Consumer Issues
Topic: moving retired/elderly parents to soCal? sane or insane?
Replies: 29
Views: 2853

Re: moving retired/elderly parents to soCal? sane or insane?

Given the costs and disruptions of moving, it seems that it would be best to maximize the amount of assistance your parents can have in their own home before taking the expensive and irreversible (if they sell their home) step of moving to California. It seems from your description that your parents...
by Nutmeg
Thu Sep 19, 2019 9:55 pm
Forum: Personal Consumer Issues
Topic: Moisture and mold found during home inspection
Replies: 53
Views: 3307

Re: Moisture and mold found during home inspection

The shower was disclosed and they were upfront about it, offering $6500 to fix it. They just didn't want to fix it because they were selling. My response would be that, as a buyer, I don’t want to fix it either, so I will buy a different house. The sellers knew there was a problem and chose not to ...
by Nutmeg
Wed Sep 18, 2019 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Help for mother-in-law: Is NYS retirement income taxable in Colorado?
Replies: 13
Views: 1211

Re: Help for mother-in-law: Is NYS retirement income taxable in Colorado?

This may be the one year I hire an accountant to do her taxes, but I prefer to understand this all myself. I commend you for planning ahead and trying to understand your MIL’s tax situation. These are excellent goals because different states can allocate income and expenses differently. One state m...
by Nutmeg
Sun Sep 08, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: cost basis of house
Replies: 14
Views: 1350

Re: cost basis of house

The basis of an inherited asset is not stepped-up basis, as many people have stated. The basis is marked to market. If, on the date of death, the market value of the inherited asset had declined from its previous basis, the basis will be reduced for tax purposes.
by Nutmeg
Sun Sep 08, 2019 1:14 pm
Forum: Personal Investments
Topic: Company offers no 401K, should I still max out HSA first?
Replies: 3
Views: 544

Re: Company offers no 401K, should I still max out HSA first?

Yes, you should max out your HSA. In simplified terms, if you qualify to make HSA contributions, HSAs offer the same benefit as Roth IRAs do: earnings grow tax-free. They offer the same benefit as traditional IRAs do: HSA contributions aren’t subject to federal income taxes. HSA contributions can of...
by Nutmeg
Sun Sep 08, 2019 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on selling real estate (Family Property)
Replies: 30
Views: 2410

Re: Advice on selling real estate (Family Property)

Others in my family were afforded the same opportunity but did not take it. It is telling that those who chose not to build a house there in the first place apparently feel free to tell you that you must keep your house there forever. If other relatives feel strongly about it, those who feel that t...
by Nutmeg
Fri Aug 30, 2019 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Trust beneficiary is “unbanked”
Replies: 28
Views: 2100

Re: Trust beneficiary is “unbanked”

Not your problem. Do your duty as the trustee and let the beneficiary worry about that. The two parts of this sentence contradict each other and reflect what seems to be a fundamental misunderstanding of both the law and the apparent purpose of this trust. It appears from the facts we know that sen...
by Nutmeg
Thu Aug 29, 2019 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Trust beneficiary is “unbanked”
Replies: 28
Views: 2100

Re: Trust beneficiary is “unbanked”

Do the terms of the trust require sending five or six-figure checks? Do the terms prohibit distributions in other forms (for example, paying rent directly to the landlord)? Presumably you were chosen as trustee because the grantor of the trust anticipated that the beneficiary should not be given lar...
by Nutmeg
Mon Aug 26, 2019 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: mortgage question
Replies: 15
Views: 1640

Re: mortgage question

You mentioned charitable contributions. One option would be to make your charitable donations through contributions of appreciated securities to a donor advised fund, which would then make the payments to the charities at your request. This would mean you wouldn’t have to pay taxes on the capital ga...
by Nutmeg
Wed Aug 21, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Are there advantages to being married to a teacher?
Replies: 111
Views: 7673

Re: Are there advantages to being married to a teacher?

the only true negative i have found is that it makes it very difficult to move regionally. as in, it makes it more difficult for the non-teaching spouse to career climb and sort of narrows the job search radius. I think that's true with almost any trailing spouse. Wait, what? What is a "trailing sp...
by Nutmeg
Wed Aug 21, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: When to "follow up" with colleague about job prospect
Replies: 19
Views: 1229

Re: When to "follow up" with colleague about job prospect

Why would you wait months to contact someone? Who you work for is a huge element of job satisfaction. She should reach out immediately, mention she will always be grateful for his mentorship and that she enjoyed working for/with him, and say that if there are employment opportunities available she ...
by Nutmeg
Fri Jul 12, 2019 8:51 pm
Forum: Personal Investments
Topic: is Vanguard Flagship service better? (I sure hope so)
Replies: 28
Views: 3218

Re: is Vanguard Flagship service better? (I sure hope so)

I have been very impressed with Flagship customer service. My Flagship rep recently told me about a way to transfer holdings about which I wasn’t previously aware. Then he added a transfer specialist to the line, and the three of US discussed how to accomplish my goals. I have gotten good service fr...
by Nutmeg
Thu Jul 11, 2019 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating 2019 federal income taxes (to pay in 2020)
Replies: 10
Views: 1589

Re: Estimating 2019 federal income taxes (to pay in 2020)

SRenaeP wrote: You're actually asking a few different separate questions. This is perceptive and exactly right, which is why I needed a tax estimator in order to help my friend! I am grateful for all the responses. The questions are separate but related. My friend wants to maximize retirement saving...
by Nutmeg
Thu Jul 11, 2019 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Estimating 2019 federal income taxes (to pay in 2020)
Replies: 10
Views: 1589

Estimating 2019 federal income taxes (to pay in 2020)

What is the best way to estimate 2019 federal income taxes (to be filed in 2020)? A friend with complicated income sources has requested help. Because of a change to a lower-paying job, my friend is trying to decide how to complete a new W-4 and whether to make estimated quarterly payments to the IRS.
by Nutmeg
Sun Jul 07, 2019 10:31 pm
Forum: Personal Investments
Topic: Tax Planning Advice Please
Replies: 21
Views: 1696

Re: Tax Planning Advice Please

The OP wrote: Figuring out the cost basis of each reinvested share is going to take me hours and hours. I started earlier today, and have only managed to finish for 2019. I suggest, and I truly mean this as a concerned observer, that you discontinue computing basis amounts until you fully understand...
by Nutmeg
Sun Jul 07, 2019 4:02 pm
Forum: Personal Investments
Topic: Tax Planning Advice Please
Replies: 21
Views: 1696

Re: Tax Planning Advice Please

Thank you all for your valuable advice. As livesoft and ofckrupke as indicated, I have no idea what I am talking about with respect to my cost basis... I will do what ofckrupke has said and build a table for each of the 2 funds - similar to what IRS form 8949 looks like, and try to figure out what ...
by Nutmeg
Sun Jul 07, 2019 3:53 pm
Forum: Personal Investments
Topic: Tax Planning Advice Please
Replies: 21
Views: 1696

Re: Tax Planning Advice Please

The cost basis of gifted shares that have gains is actually the cost basis of the original owners that gifted them to you. You need to know the dates acquired and prices paid for the shares you were gifted. This assumes you did not inherit the shares from someone who died. Also be aware of what re-...
by Nutmeg
Mon Jul 01, 2019 9:32 am
Forum: Personal Investments
Topic: Pre-Paying Mortgate Home Value Question
Replies: 7
Views: 613

Re: Pre-Paying Mortgate Home Value Question

The current value of your house (and whether you overpaid for it) is totally irrelevant to the question of whether you should prepay your mortgage unless you would ever consider defaulting on the loan and giving your house to the mortgagee. It appears that you have at least $200,000 of equity in the...
by Nutmeg
Fri Jun 21, 2019 8:06 pm
Forum: Personal Investments
Topic: Inherited stocks/mutual funds and bump in cost basis.
Replies: 9
Views: 1144

Re: Inherited stocks/mutual funds and bump in cost basis.

Never cease to be amazed by the knowledge of this group. Thanks for education and stimulation. Several posts including one in another section on joint accounts brings up this question. How do different ways of labeling accounts (joint pod, joints tenants in common, etc) affect inheritance and ramp ...
by Nutmeg
Sat Jun 08, 2019 3:54 pm
Forum: Investing - Theory, News & General
Topic: Insights From a Long Call With Vanguard Reps Today
Replies: 86
Views: 18176

Re: Insights from Vanguard

I had a very long call with Vanguard today. We discussed many different topics and I thought some of the things they said might interest some of you, so here are some of my notes and impressions: Not exactly surprising but, they agreed LifeStrategy funds aren’t suited for taxable accounts. thanks f...
by Nutmeg
Thu Jun 06, 2019 1:30 pm
Forum: Personal Consumer Issues
Topic: Resort vacation w/ 6 month old...?
Replies: 30
Views: 1950

Re: Resort vacation w/ 6 month old...?

I loved taking annual beach trips with my children and in-laws at every age from 6 months onward and never felt the trips were too difficult. We flew some years and drove some years. Going with the in-laws made the trips a lot easier than they would have been otherwise. Going to the beach with my mo...
by Nutmeg
Tue May 28, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Home sale (Estate)
Replies: 34
Views: 1794

Re: Home sale (Estate)

The OP wrote: A couple of us other siblings are unsure we should do any of that work. The question as to whether “we” should do any of the work shows that perhaps the OP is mistaken as to the nature of the situation. The estate is a separate legal entity, and the executor of the estate represents it...
by Nutmeg
Sat May 04, 2019 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Withholding for a teenager's summer job
Replies: 10
Views: 882

Re: Withholding for a teenager's summer job

If you live in a state with income taxes, then it is possible that the teenager could be exempt for federal tax purposes but not for state tax purposes. In that case, the same educational benefit could be derived by filing tax returns without the necessity of allowing the federal government to have ...
by Nutmeg
Sat May 04, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Settlement options for a special needs minor about to receive personal injury award
Replies: 28
Views: 1691

Re: Settlement options for a special needs minor about to receive personal injury award

This is an excellent website, to which I have referred often:

https://www.specialneedsalliance.org/

Particularly helpful pages in your case might be those for FAQs, special needs attorney listings, “The Voice” (newsletter) and Publications.
by Nutmeg
Sat May 04, 2019 10:00 am
Forum: Personal Investments
Topic: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?
Replies: 62
Views: 5089

Re: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?

Technically, you do not yet “have a pension” because you are not yet receiving it. It appears that have the possibility of a pension in the future. Questions to ask yourself include: If you retired today, would you receive a pension, and if so, at what percentage of your salary? Do you have job prot...
by Nutmeg
Fri May 03, 2019 10:43 am
Forum: Personal Consumer Issues
Topic: Anyone ever used a water damage restoration company to help file insurance claim?
Replies: 22
Views: 1438

Re: Anyone ever used a water damage restoration company to help file insurance claim?

Has anyone here ever used a water damage restoration company to help file an insurance claim? Is it better to just call my insurance company and file the claim myself? Or is it better to have a water damage restoration company file the insurance claim for me? What things do I need to watch out for ...
by Nutmeg
Fri May 03, 2019 10:23 am
Forum: Personal Consumer Issues
Topic: Europe with teens - hotel options
Replies: 42
Views: 3131

Re: Europe with teens - hotel options

My experience in Austria, Germany and German-speaking Switzerland is that hotel rooms usually had two twin beds, sometimes right next to each other. Therefore, traveling with teenagers required booking two hotel rooms or renting through a service such as Airbnb. In rare cases, one could book a famil...
by Nutmeg
Wed Apr 17, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Household budget, savings, retirement, and Home Equity question
Replies: 23
Views: 2572

Re: Household budget, savings, retirement, and Home Equity question

What are your current interest rates on your various loans? It seems that you have a car loan, a mortgage, a TSP loan, and credit card debt. How does your current mortgage rate compare to the potential rates on a 20 or 30 year refinanced loan? What are you earning on your emergency fund money? If yo...
by Nutmeg
Mon Mar 18, 2019 4:34 pm
Forum: Personal Consumer Issues
Topic: New HVAC systems before selling home
Replies: 29
Views: 2503

Re: New HVAC systems before selling home

I recommend replacing at least the upstairs AC, which was having trouble keeping up last summer, so you get the benefit of the improvement. Also, consider whether your house would be attractive to first-time homebuyers (who might stay away from a house with older HVAC because it was all they could d...