Search found 307 matches

by Determined
Tue Mar 19, 2019 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: First Job Offer Out Of College - No Medical Insurance
Replies: 16
Views: 1447

Re: First Job Offer Out Of College - No Medical Insurance

1. Company Y doesn’t have any of those benefits as of today.
2. If they do get them set up, you will have no idea what your cost will be. There is no requirement as to what percentage a company must contribute towards employee health coverage.
by Determined
Fri Mar 15, 2019 9:42 pm
Forum: Personal Investments
Topic: Kasasa question
Replies: 3
Views: 344

Re: Kasasa question

True. I wouldn’t have to open a new bank account to use a Vanguard money market.
by Determined
Fri Mar 15, 2019 9:33 pm
Forum: Personal Investments
Topic: Kasasa question
Replies: 3
Views: 344

Kasasa question

My local bank has a Kasasa program. The checking account rates dropped over the last few years to 1.7% and it’s recently bumped up to 1.9% up to $15,000 with 12 debit purchases. When I started the account the rates were better and the limit was $25,000. I was in a different position in life at that ...
by Determined
Fri Mar 15, 2019 5:01 pm
Forum: Personal Consumer Issues
Topic: 2 days in New York City
Replies: 41
Views: 2168

Re: 2 days in New York City

My daughter goes to college in Manhattan. She loves the MoMa and Little Italy. She saw The Ferryman on Broadway last night. It has stellar reviews.
by Determined
Sun Mar 03, 2019 3:24 pm
Forum: Personal Consumer Issues
Topic: Advice on Grand Pianos?
Replies: 57
Views: 3017

Re: Advice on Grand Pianos?

I am a music teacher and an accompanist. If I had the space, I would get a Kawaii or a Yamaha. I have owned a decent Baldwin upright for 25 years. Our church just purchased a used Kawaii GS-40 for $11,000 from a piano teacher who was downsizing. It wouldn’t fit in her new place. We heard about it fr...
by Determined
Sat Feb 23, 2019 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Any educators leave field for other career?
Replies: 13
Views: 1417

Re: Any educators leave field for other career?

After 25 years in education working with some of the toughest kids as both a teacher and an administrator I am burned out. Since I’m only 48 I obviously have a ways to go before retirement. I have it financially worked out to be able to retire in 6 and a half years. With another new Principal I jus...
by Determined
Wed Feb 20, 2019 4:53 pm
Forum: Personal Investments
Topic: Portfolio help for 2 teacher family in Ohio
Replies: 26
Views: 1650

Re: Portfolio help for 2 teacher family in Ohio

jbell3124 wrote:
Wed Feb 20, 2019 7:48 am
I believe it is 35 and 60 to get the 2.2% per service year.

My error. Yes, I meant 35 years and age 60.
by Determined
Tue Feb 19, 2019 9:58 pm
Forum: Personal Investments
Topic: Portfolio help for 2 teacher family in Ohio
Replies: 26
Views: 1650

Re: Portfolio help for 2 teacher family in Ohio

Just to clarify for those of you outside Ohio, full retirement is 30 years AND age 60. If I retire at 30 years, I am eligible for 39% of my FAS (about $32,000 for me). It's a more recent change.
by Determined
Tue Feb 19, 2019 9:26 pm
Forum: Personal Investments
Topic: Portfolio help for 2 teacher family in Ohio
Replies: 26
Views: 1650

Re: Portfolio help for 2 teacher family in Ohio

I notice that you are using Fidelity VIP Index 500 Portfolio ER 0.35% in her 403b. This tells me that she is contributing to an annuity and it is very likely that there are additional fees in addition to the ER--probably an M&E fee of around 1% as well as an admin fee and a surrender fee. I would s...
by Determined
Tue Feb 19, 2019 9:20 pm
Forum: Personal Investments
Topic: Portfolio help for 2 teacher family in Ohio
Replies: 26
Views: 1650

Re: Portfolio help for 2 teacher family in Ohio

I am also an Ohio public school teacher. I have 11 years until I can collect full retirement. My concern is whether the 79% will still be the final pension number when I get there. This is another vote for the 457. It's really easy to manage, and if you maximize it, they will automatically adjust it...
by Determined
Tue Feb 12, 2019 10:32 pm
Forum: Personal Investments
Topic: Ohio Deferred Roth 457
Replies: 3
Views: 267

Re: Ohio Deferred Roth 457

I have learned so much over the last several years reading these boards. How do I determine if I should switch to a Roth 457 when Ohio Deferred Compensation starts offering it this year? I am a public school teacher in a Defined Benefit program. Currently my full retirement is 79.8% FAS in 2030 whe...
by Determined
Tue Feb 12, 2019 9:56 pm
Forum: Personal Investments
Topic: Ohio Deferred Roth 457
Replies: 3
Views: 267

Ohio Deferred Roth 457

I have learned so much over the last several years reading these boards. How do I determine if I should switch to a Roth 457 when Ohio Deferred Compensation starts offering it this year? I am a public school teacher in a Defined Benefit program. Currently my full retirement is 79.8% FAS in 2030 when...
by Determined
Fri Feb 08, 2019 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much would you contribute to retirement if you max your 2019 contributions?
Replies: 43
Views: 2838

Re: How much would you contribute to retirement if you max your 2019 contributions?

I am a single parent. I have inheritance and investment income that allows me to max my tax-deferred accounts.

Pension 14%: $10,000
Employer match:$10,000
403b:$19,000
457: $19,000
Backdoor Roth: $6,000
HSA: $7,000 ($1200 employer contribution)

$71,000
by Determined
Sat Feb 02, 2019 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Early Braces: Financial Strategy
Replies: 17
Views: 1308

Re: Early Braces: Financial Strategy

I don't know anything about Smile DirectClub, and the closest I got to early braces was a retainer bar for my daughter's lower teeth. Financially, here is how I handled it. 1. I have an HDPD/HSA. 2. $1800 lifetime maximum for orthofontics. 3. Elected in November the remainder through a Limited FSA f...
by Determined
Mon Jan 28, 2019 11:01 pm
Forum: US Chapters
Topic: How Did You End Up Here?
Replies: 65
Views: 4624

Re: How Did You End Up Here?

In the span of just under three years my dad died, sent the oldest to college, divorced, sent my next one to college, and my mom died. My world of making single parenthood work collided with some inhertance. It kicked me in the butt to take charge of my finances instead of lleaving it all in a high ...
by Determined
Wed Jan 23, 2019 4:45 pm
Forum: Personal Investments
Topic: Help to choose a [403b] provider
Replies: 4
Views: 191

Re: Help to choose a [403b] provider

Hello, I am totally new here and need help choosing a provider for my 403b. PROVIDERS AND SERVICES AVAILABLE ARE: FIDELITY VOYA LINCOLN TIAA-CREF VALIC Thank you very much for any inputs! I am not an expert, but I know your options are way better than mine. If you are in education you can use 403bw...
by Determined
Wed Jan 23, 2019 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: HSBC Bonus offer $350 for $10000?
Replies: 6
Views: 619

Re: HSBC Bonus offer $350 for $10000?

I took advantage of their $200 offer for depositing $1500 about a year ago and had no problems.
by Determined
Fri Jan 18, 2019 10:17 pm
Forum: Personal Investments
Topic: Who defines date of (403b) contribution?
Replies: 3
Views: 190

Re: Who defines date of (403b) contribution?

My 403b is definitely dated when it comes out of my pay. Otherwise it would mess up the yearly contribution total.
by Determined
Fri Jan 04, 2019 7:44 pm
Forum: Personal Investments
Topic: Help my daughter choose a retirement plan- OPERS (Ohio Public Employees Retirement System)
Replies: 9
Views: 788

Re: Help my daughter choose a retirement plan- OPERS (Ohio Public Employees Retirement System)

I would not recommend a traditional plan for her. I have 25 years in the traditional plan OH STRS, and the loss of employer contributions would be huge if I left the state. When Ohio created the other options, existing STRS employees had a one time option of switching. A friend wisely did that, alth...
by Determined
Fri Jan 04, 2019 7:08 pm
Forum: Personal Investments
Topic: Transfer fee for HSA
Replies: 1
Views: 292

Transfer fee for HSA

Over a year ago I opended a Lively account. I had some money in an account through my employer that was earning 1% with no investment options What I didn't realize was I would get hit with a $25 transfer fee. Since my employer matches $1200 for a family, I continue to deposit money through payroll d...
by Determined
Tue Dec 11, 2018 10:17 pm
Forum: Personal Investments
Topic: Five year annuity distribution
Replies: 8
Views: 806

Re: Five year annuity distribution

Unless the annuity is over 35 years old, the 34k of gains will come out first, so you will get the tax hit before you receive any of the amount invested. Therefore, if you withdrew 17,000 this month you will have 17k of taxable income this year. You could then withdraw the entire balance in January...
by Determined
Mon Dec 10, 2018 8:10 pm
Forum: Personal Investments
Topic: Five year annuity distribution
Replies: 8
Views: 806

Re: Five year annuity distribution

Age: 48
Work timeline: full time until age 60
Tax Bracket: 24%, head of household
Investment strategy: 70/30
Tax Advantaged Space: Fully funded

When you suggest leave it with AXA, do you mean don't pull any out this year?
by Determined
Mon Dec 10, 2018 6:38 pm
Forum: Personal Investments
Topic: Five year annuity distribution
Replies: 8
Views: 806

Five year annuity distribution

This is the first year for a five year distribution of an AXA annuity I inherited. It is currently $84,000. Is it best to simply take 1/5 of it? The initial investment was $50,000. Thank you.
by Determined
Fri Nov 30, 2018 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: How did YOU choose your career?
Replies: 149
Views: 9132

Re: How did YOU choose your career?

I always wanted to teach. I made the neighborhood kids play school. I am also musical. I tried some other options in college but went back and got my Music Ed degree. I have been teaching for 25 years. I can't imagine doing anything else.
by Determined
Fri Nov 30, 2018 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of inherited business

I'm not certain of your relationship with your brother, but it sounds like your request for documents caused him some stress. You might talk to counsel, figure out what you want to do for you, then just talk to your brother, say nothing to put him on defensive, defuse emotions in the conversation, ...
by Determined
Thu Nov 29, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of inherited business

Met with the original lawyer today. Bottom line is he wants to follow through with his original recommendations from the summer iof 2017. Divide the shares of the company and put the property in an LLC. The reason he said he hadn't moved quickly is because he hadn't settled on what the buy/sell shou...
by Determined
Thu Nov 29, 2018 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of inherited business

Why is there still an active personal loan from your parents to the business? Haven't you settled your mother's estate by now? There is an active personal loan because company cannot pay it all off. We have increased monthly amount as funds have become available, but it is several hundred thousand ...
by Determined
Wed Nov 28, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

... This is not complicated for a capable lawyer. Anonymous postings from bogleheads to you, even from those who are lawyers, are only marginally helpful at best. The lawyers are trying to be helpful, but if asked I’m sure they would admit that they are giving you suggestions based upon bits and pi...
by Determined
Wed Nov 28, 2018 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

Get a capable lawyer, or two if needed. This is not complicated for a capable lawyer. Anonymous postings from boggleheads to you, even from those who are lawyers, are only marginally helpful at best. The lawyers are trying to be helpful, but if asked I’m sure they would admit that they are giving y...
by Determined
Wed Nov 28, 2018 5:31 am
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

There are some special requirements for trusts to be able to own S corporation shares. Did the trust satisfy them? I have absolutely no idea. This has never been brought up. I did a little reading. There was teference to a limit of two years.it will be two years January 21. Whose responsibility was...
by Determined
Tue Nov 27, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

https://www.bogleheads.org/forum/viewtopic.php?f=2&t=263196&p=4202730#p4202730 This is the original post. I followed up by meeting with a new lawyer last week. The short story is as follows. I requested that some documents form the accountant. She replied and copied my brother. My brother is mad th...
by Determined
Tue Nov 27, 2018 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

I wouldn't have thought of that. Would I need to go to a new firm to get a lawyer for myself?
by Determined
Tue Nov 27, 2018 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

I am not a lawyer - so will not answer your question. My advice is to convince both you and your brother to sell the business. My brother will not sell. He wants to own the business. He says he wants it to be a partnership between us because that's what (he thinks) Dad intended. He can’t keep you f...
by Determined
Tue Nov 27, 2018 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

johnubc wrote:
Tue Nov 27, 2018 6:18 pm
I am not a lawyer - so will not answer your question. My advice is to convince both you and your brother to sell the business.
My brother will not sell. He wants to own the business. He says he wants it to be a partnership between us because that's what (he thinks) Dad intended.
by Determined
Tue Nov 27, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

We don’t know the terms of the trust, but it is not likely that he can have it dissolved. My sense is that this situation is spiraling downward and you should be looking at selling the business. You also need a solid lawyer at your elbow in your capacity as trustee. Gill Gill, You have commented on...
by Determined
Tue Nov 27, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

Get a lawyer and figure out what you are "required" to do under the documents and make sure you are doing these at a minimum. Then figure out what else you want to provide and discuss with your brother. Given that neither of you work in the business, who is "watching the store" and controlling the ...
by Determined
Tue Nov 27, 2018 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of Inherited Business continued

This process would be a lot easier if you would be transparent with your brother and not try to keep things from him. Even if II end up taking actions as trustee with which he disagrees, a veil of secrecy can’t really serve to warm relations between you. Everything has been completely transparent u...
by Determined
Tue Nov 27, 2018 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Trustee of Inherited Business continued

[Thread merged into here, see below (next page) --admin LadyGeek] https://www.bogleheads.org/forum/viewtopic.php?f=2&t=263196&p=4202730#p4202730 This is the original post. I followed up by meeting with a new lawyer last week. The short story is as follows. I requested that some documents form the a...
by Determined
Mon Nov 26, 2018 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2771

Re: Trustee of inherited business

Update I met with a new lawyer last week and am getting a few more documents around. Meanwhile, I asked the accounts person to send me a couple of invoices, and she copied my brother on it. Now he is questioning why I am doing things without him. I told him I was following up on my trustee duties. H...
by Determined
Mon Nov 12, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: 457 vs 403b
Replies: 120
Views: 7794

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: 120
Views: 7794

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: 62
Views: 2771

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: 62
Views: 2771

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: 62
Views: 2771

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: 62
Views: 2771

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: 62
Views: 2771

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: 62
Views: 2771

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: 62
Views: 2771

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...