Search found 266 matches

by Determined
Mon Nov 12, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: 457 vs 403b
Replies: 29
Views: 1961

Re: 457 vs 403b

Hey, it only took you 20 years! I've worked for my school system for 27 years and only found out that we're eligible for a 457 in addition to the 403b at the end of last year. You've got me beat by a mile! The rules for the "catch up" on the 457 are complicated, but apparently they will allow you t...
by Determined
Mon Nov 12, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: 457 vs 403b
Replies: 29
Views: 1961

Re: 457 vs 403b

45 year old Illinois HS teacher - family of 5 - just became aware of 457 being an investment option....not sure how/why this dodged me for...20+ years.... Regardless, I have been working with HR to have Fidelity added as a 457 vendor (I currently use them for my 403B) - this should be up and runnin...
by Determined
Wed Nov 07, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Thank you. All of this is very helpful. There is no issue with transparency. Rightly or wrongly, he has had access to all the same financial reports I have. We have been making decisions together. I first brought up the conversation about a CEO a little over a year ago. He pushed back hard. I did no...
by Determined
Wed Nov 07, 2018 6:49 am
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

What do I say when asked who owns the business? Do I say the trust and leave it at that? Do I say it is me as trustee?
by Determined
Tue Nov 06, 2018 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Sandtrap wrote:
Tue Nov 06, 2018 10:43 pm
As a responsible steward of your parent's estate:

1. Meet with legal counsel asap.
2. Meet with legal counsel and brother. Clarify boundaries, etc.
3. Hire CEO or Sell.
Thank you. This the course I am on. I emailed the attorney this evening.
by Determined
Tue Nov 06, 2018 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Reading the dialogue with Gill and OP ..... OP should recognize that he has not only certain rights as the sole Trustee, but also certain responsibilities to the beneficiaries (which include his brother). Breach those responsibilities and subject yourself to legal liability. This wouldn't be the fi...
by Determined
Tue Nov 06, 2018 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

My brother is coming to town Friday because of the Canadian long weekend. He has a meeting set up with the accountant and plans to be at the plant. I will not be part of any of this as I have my own job. I have the authority to prevent him from meeting or even going to the plant? That's not somethi...
by Determined
Tue Nov 06, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

My brother is coming to town Friday because of the Canadian long weekend. He has a meeting set up with the accountant and plans to be at the plant. I will not be part of any of this as I have my own job. I have the authority to prevent him from meeting or even going to the plant? That's not somethin...
by Determined
Tue Nov 06, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Your one question about your authority wasn’t answered. Are you sole trustee? If so, you are the owner of the business and have complete control of the business if the majority of the stock is held in the trust. Gill I am the sole trustee and the business owns all the stock. My brother calls himsel...
by Determined
Mon Nov 05, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Your one question about your authority wasn’t answered. Are you sole trustee? If so, you are the owner of the business and have complete control of the business if the majority of the stock is held in the trust. Gill I am the sole trustee and the business owns all the stock. My brother calls himsel...
by Determined
Mon Nov 05, 2018 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Re: Trustee of inherited business

Thank you. That is a good suggestion. Only I can decide what is worth creating issues between my brother and me, but I need to feel more confident in my options
by Determined
Mon Nov 05, 2018 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1375

Trustee of inherited business

I am the successor trustee of my dad's small business. My brother and I are the beneficiaries. My dad passed almost five years ago from cancer and my mom unexpectedly passed 21 months ago Neither of us work for the company. I live and teach in the same town. My brother is an expat living in Canada. ...
by Determined
Wed Oct 31, 2018 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: HSA and DCFSA
Replies: 13
Views: 657

Re: HSA and DCFSA

You can have a dependent care FSA because that does not conflict with health savings. You can also have a limited FSA for dental, vision and a few others things. I believe the limit is partly determined by the spouse's salary that is lower. So will my wife be able to contribute $6,900 for a family ...
by Determined
Wed Oct 31, 2018 5:22 pm
Forum: Investing - Help with Personal Investments
Topic: HSA and DCFSA
Replies: 13
Views: 657

Re: HSA and DCFSA

You can have a dependent care FSA because that does not conflict with health savings. You can also have a limited FSA for dental, vision and a few others things.

I believe the limit is partly determined by the spouse's salary that is lower.
by Determined
Tue Oct 30, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA Question
Replies: 5
Views: 332

Re: Dependent Care FSA Question

The amount is calculated by the lower of your two incomes. If she is not working, then you are eligible. Disabled, full time student, or seeking employment are the exceptions
by Determined
Mon Oct 29, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance after marriage
Replies: 12
Views: 1095

Re: Health insurance after marriage

Spirit Rider wrote:
Sun Oct 28, 2018 7:04 pm
You said you are getting married in 2019. The 2019 maximum family HSA contribution is $7000. This includes any employer contributions.
Good to know. i hadn't looked. Seems like it was just last week they were flip flopping the contribution limit for this year
by Determined
Sun Oct 28, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance after marriage
Replies: 12
Views: 1095

Re: Health insurance after marriage

Upon talking to my fiance, it turns out he has HDPD with an HSA. He confused the two and didn't realize an FSA was different. So when we marry, I know are macimum between us is $6900. That's good because I can get the rest of the $1200 match from my employer. His doesn't match.
by Determined
Sun Oct 28, 2018 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance after marriage
Replies: 12
Views: 1095

Re: Health insurance after marriage

To clarify, I am on a family plan because I insure my children. I do not know if I will go on his insurance once we marry as we can decide that next summer. He can only go on mine as a secondary. Is the maximum amount tied to months of enrollment? Could I front load the HSA? I am in a much different...
by Determined
Sat Oct 27, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance after marriage
Replies: 12
Views: 1095

Re: Health insurance after marriage

Just keep in mind. If you decide to stay with the HDHP/HSA and your fiance stays with her PPO, if she enrolls in a general purpose FSA. It will make you ineligible to make HSA contributions after you are married. This will still be true if she drops her PPO coverage and stop FSA contributions and e...
by Determined
Sat Oct 27, 2018 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance after marriage
Replies: 12
Views: 1095

Health insurance after marriage

I will be getting remarried next summer. I use my employer's HDPD option for my family. I have one child at home and two college students. My cost is $1300 per year and they match $1200 towards my HSA.my health costs are generally quote low, so this works well. I pay out of pocket and maximize my HS...
by Determined
Sat Sep 22, 2018 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8827

Re: Physical Banking - Any benefits anymore?

This week I talked about banking with my German students and most said they haven't seen a paper check in over 20 years. They were a bit amused and surprised that Americans actually still write checks . I've only used on-line banking since I've lived in Germany. Which Americans are you speaking of?...
by Determined
Thu Sep 20, 2018 3:23 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 293
Views: 25523

Re: What is your single most expensive mistake?

Waiting a few months too long too long to file for divorce. He took out $30,000 from our HELOC and lost it sports betting. Then I filed!
by Determined
Mon Sep 10, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: I think my father has a gambling problem
Replies: 78
Views: 6876

Re: I think my father has a gambling problem

If Dad feels you disapprove, he will be secretive. If you take interest in his hobby, you will likely see a change if it becomes a problem. The upside is you will have something to talk about even it is not your preference. I was married to a sports gambler. I saw all aspects of it. He hit the phase...
by Determined
Sun Sep 02, 2018 8:16 pm
Forum: Investing - Help with Personal Investments
Topic: Fully maxed out
Replies: 70
Views: 8075

Re: Fully maxed out

Yes. I am head of household earning about $110,000.
457
403b
HSA family
Roth IRA
529 $2000 for the maximum state tax deduction
by Determined
Sat Aug 25, 2018 8:16 pm
Forum: Personal Consumer Issues
Topic: Cheaters or prescription bifocals
Replies: 22
Views: 1533

Re: Cheaters or prescription bifocals

I used "cheaters" until I got tired of keeping track of them and decided it would be better to keep glasses on all the time. I went with progressive lenses but the top was essentially non prescription at first. Years later I have a little astigmatism so that correction is in three now. Once you nee...
by Determined
Sat Aug 25, 2018 8:13 pm
Forum: Personal Consumer Issues
Topic: Cheaters or prescription bifocals
Replies: 22
Views: 1533

Re: Cheaters or prescription bifocals

PRMECP wrote:
Sat Aug 25, 2018 7:46 pm
Go see an eye doctor.
Lol. Yes. I am planning to.
by Determined
Sat Aug 25, 2018 7:30 pm
Forum: Personal Consumer Issues
Topic: Cheaters or prescription bifocals
Replies: 22
Views: 1533

Cheaters or prescription bifocals

I started using inexpensive cheaters (1.00 strength) earlier this year. They are fine when I am reading, and have them down at the tip of my nose. When I am at the computer or playing piano and need to look out, then everything is blurry because I didn't move them first. Do I simply need to get used...
by Determined
Sun Aug 19, 2018 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 105
Views: 13830

Re: Teachers Who Have Net Worth of $1 million +

I know some really well-off retired teachers, but I would say that the biggest disadvantage current educators have is that as a whole we seem to be very under-educated about investing. Possibly as soon as someone hears the word "pension" they just turn off and figure "it's covered". All the compani...
by Determined
Sun Aug 19, 2018 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Apartment Decision After Divorce- Please evaluate my thinking
Replies: 33
Views: 3443

Re: Apartment Decision After Divorce- Please evaluate my thinking

If the beams are made in concrete the sound from steps is not a problem in most cases. Sound of voices and music horizontally is a bigger problem in my experience. If I divorced I would also go with smallest (cheapest) apartment in child friendly area for the first move. and I would get a murphy be...
by Determined
Sat Aug 18, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Braces: Keeping cost down and insurance questions.
Replies: 27
Views: 2499

Re: Braces: Keeping cost down and insurance questions.

My son had his consultation this week. We only have one insurance plan, so trying to get lifetime maximum out of two doesn't apply. Here's how this one bteaks down. Cost of orthodontics. $3800 Expected insurance adjustment - $1800 Discount for paying upfront. -$500 Total $1500 I will elect $1500 int...
by Determined
Fri Aug 17, 2018 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score mysteriously dropped
Replies: 10
Views: 1153

Re: Credit Score mysteriously dropped

Check your credit reports for errors. You're entitled to one free report per year at freecreditreport.com It's mandated by law so that's not a free trial type of thing. Check all 3 reports: Experian, Equifax, and Trans Union. It's also more helpful (but slower and more hassle) to get paper reports ...
by Determined
Fri Aug 17, 2018 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score mysteriously dropped
Replies: 10
Views: 1153

Re: Credit Score mysteriously dropped

The notification came from Nerdwalket, but I checked it with my Discover. I don't obsess over it, however I am looking for a house. Whenever I have needed to check it, it has been over 800. There has been a lot of activity and new accounts since my mom passes 20 months ago. It just doesn't make sens...
by Determined
Fri Aug 17, 2018 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score mysteriously dropped
Replies: 10
Views: 1153

Credit Score mysteriously dropped

I received a notification that my credit score dropped 40 points! I am mystified. It's been in the 800s. I did have to open two trust accounts in the last two weeks, but they are at a bank where I have other established accounts. Do I call and ask? The last hard pull was 6 months ago
by Determined
Thu Aug 16, 2018 4:15 pm
Forum: Personal Consumer Issues
Topic: Sign - Speed checked by Radar
Replies: 41
Views: 2980

Re: Sign - Speed checked by Radar

My son just got a ticket notice in the mail yesterday. 66 in a 50 with photos of his platers. There is an affidavit you can submit if it wasn't you driving. In my state you throw those in the trash. A process server may attempt to serve you (~50% chance). So, you don't answer your door for about tw...
by Determined
Thu Aug 16, 2018 11:20 am
Forum: Personal Consumer Issues
Topic: Sign - Speed checked by Radar
Replies: 41
Views: 2980

Re: Sign - Speed checked by Radar

My son just got a ticket notice in the mail yesterday. 66 in a 50 with photos of his platers. There is an affidavit you can submit if it wasn't you driving.
by Determined
Wed Aug 15, 2018 6:07 am
Forum: Personal Consumer Issues
Topic: Travel over thanksgiving holiday, drive or fly?
Replies: 50
Views: 2533

Re: Travel over thanksgiving holiday, drive or fly?

I live in the Northwestern part of Ohio. My daughter goes to school in Manhattan. We have traveled by car, train, bus, and plane. I have not drive and then taken a train from NJ. All of them have their time and place I would not take a car into NYC that weekend, period. I flew with one child to Mont...
by Determined
Sat Aug 11, 2018 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Paper checks yes or no?
Replies: 116
Views: 6904

Re: Paper checks yes or no?

Update. I decided to open an online checking account with Discover since I already have a savings account there. I will move everything there from the rewards checking I am closing. I still have my brick and mortar account that basically pays my mortgage. Next time my brother gives me grief about st...
by Determined
Fri Aug 10, 2018 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Paper checks yes or no?
Replies: 116
Views: 6904

Re: Paper checks yes or no?

I am glad to hear many thanks for your you using checks. My brother likes to hassle me. As I read, the are a few other random things I use checks for. Where I am banking does not have free checks, but it's not worth it to me to open a new account online because I am trying to streamline with the bus...
by Determined
Fri Aug 10, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Paper checks yes or no?
Replies: 116
Views: 6904

Paper checks yes or no?

I am in the process of moving my checking account to a different bank. I already have the second account, but I don't use it for anything except paying my mortgage. I want to close the local rewards checking because there the interest rate is no longer worth it. I pay everything online, autopay, bil...
by Determined
Fri Aug 03, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: SBA vs conventional loan
Replies: 2
Views: 227

Re: SBA vs conventional loan

SBA loans have a couple of up front fees paid at or before closing as well as the guarantee fee on top of the banks regular fee. SBA loans that include property are more favorable with both up front fees as well as rate and terms. The singular reason to change would be more favorable rates when com...
by Determined
Thu Aug 02, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: SBA vs conventional loan
Replies: 2
Views: 227

SBA vs conventional loan

My brother and I inherited, but do not run, my father's small business. Today I met the commercial banker. We took a look at the SBA loans which are prime +2.75%. One of them will end in April 2020. The other (mortgage) goes until 2030 although we have been paying an extra 30% on it for the last eig...
by Determined
Thu Jul 26, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Advice For Friend Going Through Divorce
Replies: 25
Views: 3559

Re: Advice For Friend Going Through Divorce

My ex took $30,000 from the home equity line and lost it all gambling. This was actually a month before I filed and was the final straw. It was classified as wasteful dissipation, and the assets were divided to make up for his decision. This was significant in our financial situation. Our total earn...
by Determined
Sun Jul 22, 2018 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Real salary growth negative?
Replies: 45
Views: 4836

Re: Real salary growth negative?

if there continues to be a progression in her benefits then that should be taken into account also. The most likely being larger steps in the vesting for pensions. Speaking as a public school teacher for 25 years, this in unlikely. Benefits for us best hold steady, but they eventually go down. Full...
by Determined
Sat Jul 21, 2018 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: At what level of wealth should you start setting up a Trust?
Replies: 14
Views: 2280

Re: At what level of wealth should you start setting up a Trust?

You can also use a simple revocable trust to pass assets directly to heirs without going through the probate process. This is what I did last year. My parents had almost everything in a trust. It made things way easier. In the course of three years I lost both parents and got divorced. I have a min...
by Determined
Fri Jul 20, 2018 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Bank account decision
Replies: 7
Views: 953

Re: Bank account decision

Kevin M Thank you for your insight. The rental account will be a separate account and just needs to be a basic checking. I know the kasasa has outlived it's usefulness. I have gone through some major financial changes Iver the past few years. I only used this local bank. I have been putting off chan...
by Determined
Fri Jul 20, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Bank account decision
Replies: 7
Views: 953

Re: Bank account decision

Jack FFR1846 wrote:
Fri Jul 20, 2018 1:05 pm
I don't like to jump through hoops.

I'd use Schwab/Cap One 360/Discover.....one of those....there are a million of them.
I have a Discover Savings account. I will look into that.
by Determined
Fri Jul 20, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Bank account decision
Replies: 7
Views: 953

Bank account decision

I have been using a local bank with a kasasa checking account for a very long time. It is my primary account for paychecks and expenses. I keep a $15,000 emergency fund there as it pays 1.71%. It used to pay more with a higher limit, but until recently, it was still a pretty good deal. The kasasa re...
by Determined
Thu Jul 19, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 89
Views: 8223

Re: What is your Take Home Pay / Gross Pay ratio?

I have life insurance from my mother that I am using to offset all the tax deferrals so my take home is 17% Insurance, pension contribution, maximum 403b and 457, $1200 to HSA to get employer match in a savings account, 24% bracket Edit: The 403b contribution maxes out in August. Then it will be mor...
by Determined
Sat Jul 14, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Braces: Keeping cost down and insurance questions.
Replies: 27
Views: 2499

Re: Braces: Keeping cost down and insurance questions.

One insurance is primary, the other can be secondary. You won't be able to switch and get the coverage twice. I have no experience with opting for a different coverage that pays more. My third child will get them next year. I have an HSA, but once I get the estimate next month, I will use a limited ...
by Determined
Sat Jul 07, 2018 8:51 pm
Forum: Personal Consumer Issues
Topic: Addition on a condo
Replies: 7
Views: 635

Re: Addition on a condo

They are not separate structures. I share one side wall with an interior unit. The more I think about it, the less plaisible it sounds.