Search found 28 matches

by egionesco
Fri Feb 16, 2018 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

Ok so it was mostly a primary home that was converted to a rental. At the time of conversion was the property worth less than purchase and did you document that? It was certainly worth less than the purchase but we did not document anything with regard to value. I'm going to contact my brother abou...
by egionesco
Fri Feb 16, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

Ah, sigh, thank you guys for the responses, this is going to be way more complicated than I thought. I guess I've got some reading to do, I was hoping the fact that it was a loss meant I didn't have to worry about it. The property did not sit empty. All of us lived there for awhile, I left pretty qu...
by egionesco
Fri Feb 16, 2018 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

Thanks again for the responses. Place was purchased for 135k in 1999. Is being sold for 119k. I'm not sure what the rent was, my brother was in charge. He sent me one check but we basically got screwed by a renter and had to go through court and such to evict. In the end I think we made $1000 each f...
by egionesco
Fri Feb 16, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

Thank you very much, I appreciate this. The rental property thing could be an issue. We did rent it out for the last two years. The condo is selling for 20k less than it was purchased for. I should not have said depreciation, that may not have been the right word. It just lost value because of the m...
by egionesco
Fri Feb 16, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Hopefully SImple Question on Real Estate Taxation

Hi all, About twenty years ago my father passed away. With part of the life insurance check, my mother bought my two siblings and I a condo. The house was put into all three of our names. We were 19, 17, and 15. We are selling the condo. In the twenty years since it was purchased, it has depreciated...
by egionesco
Thu Dec 07, 2017 4:09 pm
Forum: Personal Consumer Issues
Topic: I received a speeding ticket via mail from IA - should I pay it?
Replies: 72
Views: 5996

Re: I received a speeding ticket via mail from IA - should I pay it?

Kneejerk reactions to pay are based on the fact that most people who don't pay are nutters. But, you don't have to pay this. There will not be any repercussions unless maybe you move to Iowa. Did they send it certified mail? You never got it. You will likely never hear anything about this. They migh...
by egionesco
Wed Nov 29, 2017 2:35 pm
Forum: Investing - Theory, News & General
Topic: A time to EVALUATE your jitters
Replies: 254
Views: 228018

Re: A time to EVALUATE your jitters

You can ease into the market, you shouldn't try to time it but just move in certain percentages at predetermined times.
by egionesco
Wed Nov 29, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 6693

Re: When to tell the SO about my financial situation?

That being said, I would never tell her and I certainly would not marry her. There are some red flags here- she is definitely in it for the money. If you can handle that, go for it, but the better solution would be to not get married. There are plenty of girls you can attract, no reason to settle d...
by egionesco
Wed Nov 29, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 6693

Re: When to tell the SO about my financial situation?

Echoing what others have said, I think a look in the mirror is required. It's not totally clear from the details but the more that comes out the more it seems like the issue is OP, not his girlfriend.
by egionesco
Wed Nov 29, 2017 9:57 am
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 6693

Re: When to tell the SO about my financial situation?

You're dating a much younger woman, of course some of the attractiveness is based on your ability to provide. I understand wanting to be liked for other reasons, but the truth is that in love none of us will ever be loved exactly the way we want. Part of your hotness is your status, which unless you...
by egionesco
Mon Oct 23, 2017 2:13 pm
Forum: Personal Consumer Issues
Topic: Pant Recommendations (Business Casual)
Replies: 42
Views: 3313

Re: Pant Recommendations (Business Casual)

Dockers. Pleated front. Absolutely no pleats. It's not 1985. Also, don't be frugal. More expensive clothes tend to look better and make you look better. That being said, if there is one place to skimp it is mens' pants. But do not buy cheap shoes. Also, get as close as you can in size but always ta...
by egionesco
Thu Oct 05, 2017 4:59 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Any updates? Hey, I haven't contacted Fidelity yet but I have talked with the current account holders and I am very confident I am going to be able to work this out. The only issue is that one of the accounts is a Roth IRA and the current holder says they just do not issue inherited Roths, but some...
by egionesco
Thu Oct 05, 2017 1:32 pm
Forum: Personal Consumer Issues
Topic: How do you value your time?
Replies: 97
Views: 5190

Re: How do you value your time?

My effective marginal tax rate is 45%. If I can spend $1 less, it's the equivalent of earning an extra $1.82 (=1/(1-.45)). Don't forget taxes when valuing DIY activities (mowing lawn, paying for parking, making own meals, etc). Unfortunately taxes are the great distortion of modern societies and DI...
by egionesco
Mon Oct 02, 2017 5:17 pm
Forum: Investing - Theory, News & General
Topic: The Future of Active vs Index Investing
Replies: 33
Views: 3199

Re: The Future of Active vs Index Investing

If your general point is we should always be on our toes and willing to adjust when variables change and other options might be better than indexing, sure.

I think most of those responding just think this is very unlikely.
by egionesco
Tue Sep 26, 2017 6:38 am
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

I don't have to fire him because I never hired him. I did send letters, one by fax and one by email, to the two companies involved letting them know that all communications go through me, that the FA is to have nothing to do with the accounts, and that any paperwork submitted by adviser or from an a...
by egionesco
Tue Sep 26, 2017 5:08 am
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Is he referring to the Obama era rules that Trump won't put into effect? If so, I would report him for fraud, as well as threatening behavior. That is what he was implying. Believe me, there was not a single word of truth that came out of this guy's mouth. I went to his office to try and demonstrat...
by egionesco
Tue Sep 26, 2017 5:02 am
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Is this FA this top guy at the firm or does he have a boss that he answers to? He sounds incompetent as well as slimy. Unfortunately because of the state-specific firms he had the deceased in, it is not as simple as transferring the old accounts to your name. You have to come to some kind of agreem...
by egionesco
Mon Sep 25, 2017 6:03 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

When I was in this situation, I felt it was worth it to bite the bullet and secure the cooperation of the FA until the assets were in my name. If it's not too late, OP could stipulate no load fees but otherwise cooperate enough to get the transfers done. The worst case scenario might be the quarter...
by egionesco
Sun Sep 24, 2017 11:34 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Neurosphere, Thank you so much for responding. I am in a faraway town for the memorial service, but I typed up the documents and have the faxes ready to go. One group has no fax number listed, I will call them as soon as they open and ask where I can send a fax. I did e-mail them through their own c...
by egionesco
Sun Sep 24, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

I didn't track everything in the post but you clearly have a problem. You need to send documented correspondence that you don't want anything executed until further notice. He originally attempted to have you purchase new funds which is entirely inappropriate and unethical. He would receive a commi...
by egionesco
Sun Sep 24, 2017 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Yes, I agree with this. Fidelity has an office 1000 feet from my house. I will see if they can help, thank you.
by egionesco
Sun Sep 24, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

So, here's an update: I met with the financial advisor this morning (yes, Sunday- I'm in town for the memorial service). I told him under no circumstances did I want Oppenheimer funds. He tried to push a series of progressively less bad funds. He told me I should do Fidelity Advisor funds and that I...
by egionesco
Fri Sep 15, 2017 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Ah, well, I definitely don't want a check because then I would have to pay the taxes. I want to keep them as inherited IRAs if possible.
by egionesco
Fri Sep 15, 2017 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

The reason they have to be moved is because they are held in a company that is local and will not let me own accounts with them. The current custodian has told me over the phone that I cannot re-title them, but that the financial adviser may have ways to make that happen. Essentially, they are forci...
by egionesco
Fri Sep 15, 2017 1:15 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Thank you for your help. Unfortunately, for some of them, I am required to get out of the annuity, apparently. I don't think there will be a re-titling without transferring the money to a new account, which is why I'm trying to avoid Oppenheimer. One might wonder why I can transfer funds into Oppenh...
by egionesco
Fri Sep 15, 2017 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Ugh. So I just contacted the custodians of these accounts- found out I have another account (considerably smaller than the others) that the financial adviser did not tell me about. These accounts are annuities that are part of an IRA, a 403(b), and a TSA- the customer service agent told me that I wo...
by egionesco
Wed Sep 13, 2017 9:07 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Re: Transferring IRA as Beneficiary While Avoiding Financial Adviser

Hey 123, Thank you very much for your advice. As far as I know, the financial adviser is handling the accounts of the deceased, he is the only one who contacted me, although I learned of the 3rd account from him ten days after the first two, not sure how all this stuff works. The financial adviser h...
by egionesco
Wed Sep 13, 2017 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: Transferring IRA as Beneficiary While Avoiding Financial Adviser
Replies: 37
Views: 2915

Transferring IRA as Beneficiary While Avoiding Financial Adviser

Hi all, I've inherited three IRAs as a non-spousal beneficiary. Shortly after the decedent passed, his financial adviser called me to let me know. I read up on this forum and decided to just let the financial adviser handle the transferring of the name while leaving the funds in the accounts they ar...