Search found 89 matches

by Amy2017
Mon Sep 17, 2018 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust vs. Will with Kids Trust
Replies: 5
Views: 494

Re: Revocable Living Trust vs. Will with Kids Trust

I have, as have about 90% of my clients. Except we only name beneficiaries for life insurance and retirement benefits. Revocable trusts make sense in some cases and in some states. Is there some particular reason one would make sense in your case? The only reason is I've seen many people recommendi...
by Amy2017
Mon Sep 17, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 126
Views: 7923

Re: Considering Quitting Job - Seeking Advice. Would you do it?

I think it is not always easy to leave a high paying job whether you are FI or not. However, I think your situation is a little different from most people. Although the current estate tax exemption is around 11 million per person, it will expire and could revert back to around 5 million after 2025. ...
by Amy2017
Wed Sep 12, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Thanks a lot for all the ideas here. I really appreciate.
by Amy2017
Tue Sep 11, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Sounds good. Will give it try. I have extensive experience with database administration and system migration/integration. Business intelligence is the career path I envision myself. But my boss has tried to convert me to a .net programmer since day one, which has been the main source of my stress. I...
by Amy2017
Tue Sep 11, 2018 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Unfortunately I am not good with cleaning either. We even hire people to do our house cleaning once every two weeks. I think clerk jobs are the best fit for me because of my IT background.
by Amy2017
Mon Sep 10, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

We own more than one LLC, but only have husband and wife as employees. So ACA treats you just like an individual customer. No difference whatsoever. I don't enjoy driving at all. Any job involves driving is a high stress job to me. I think I would rather be a store manager of a fast food restaurant ...
by Amy2017
Sun Sep 09, 2018 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Sounds great. I will check it out. Actually with all the possible back-up plans mentioned above, I may feel less stressful about my job in the end.
by Amy2017
Sun Sep 09, 2018 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

I have been unhappy about my current job for a long time. I used to enjoy it until I had my current boss. Based on the retirement calculator, we should be able to retire now. However, like many people mentioned here, health insurance is a fear factor and we still have many years to go before we are...
by Amy2017
Sun Sep 09, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Yes. I misspelled the word 'Clerk' earlier. :D The county job mentioned in the previous post sounds another dream job to me. Only working every other week with benefit provided. :o I don't necessarily need to take the whole summer off. A couple of weeks off or work part-time during the summer will b...
by Amy2017
Sun Sep 09, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Re: Low pay and low stress jobs with health benefit

Thank you so much for the replies. My husband and I are in our early 50s and late 40s, so this job will be a long-term job, not just a short-term bridge job. Our net income from our rentals are at least 100K a year. So even without my husband and I working, our income will not qualify us for ACA sub...
by Amy2017
Sat Sep 08, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Low pay and low stress jobs with health benefit
Replies: 41
Views: 5523

Low pay and low stress jobs with health benefit

I have been unhappy about my current job for a long time. I used to enjoy it until I had my current boss. Based on the retirement calculator, we should be able to retire now. However, like many people mentioned here, health insurance is a fear factor and we still have many years to go before we are ...
by Amy2017
Sat Sep 01, 2018 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time dad, OK to use willmaker software?
Replies: 37
Views: 3185

Re: 1st time dad, OK to use willmaker software?

We debated the same issue not long time ago under similar situation. However, since we have some real properties, things may be somewhat more complicated than yours. In the end, we decided to pay good money for a top notch estate planning attorney. We don't have much prior experience with attorneys ...
by Amy2017
Mon Aug 27, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: LLC for one rental property?
Replies: 28
Views: 2259

Re: LLC for one rental property?

We decided against a LLC. I wanted to keep the step up in basis option. I doubled my umbrella policy instead. It cause very little in our state to have a LLC. I don't think having a LLC will take away the step up in basis option. We have several rental properties under LLC and several under our own...
by Amy2017
Sun Aug 26, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: LLC for one rental property?
Replies: 28
Views: 2259

Re: LLC for one rental property?

We decided against a LLC. I wanted to keep the step up in basis option. I doubled my umbrella policy instead. It cause very little in our state to have a LLC. I don't think having a LLC will take away the step up in basis option. We have several rental properties under LLC and several under our own...
by Amy2017
Sat Aug 25, 2018 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 23
Views: 2591

Re: Executor - Vanguard

Vanguard will not serve as trustee for your home. They do not do real estate. If you want to keep the family home Vanguard cannot help. If you have the local bank serve as trustee long term to hold the house, then you also have to keep enough assets there so that they can charge their fees. That me...
by Amy2017
Sat Aug 25, 2018 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 64
Views: 9091

Re: Vanguard as trustee

We recently updated our estate plan and changed from Vanguard to a local trust company. As our estate got more complex we discovered some of Vanguard's inflexibility in this department. Our local trust company charges 1% up to $3 million and 0.6% thereafter. This is an all inclusive fee including t...
by Amy2017
Fri Aug 24, 2018 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 64
Views: 9091

Re: Vanguard as trustee

You should know that there is an option called "directed trustee" under which a bank or trust company will do the administrative work while someone else manages the investments. Some banks with trust departments will do thia, others will not. If you have beneficiaries who can handle the investment ...
by Amy2017
Fri Aug 24, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 23
Views: 2591

Re: Executor - Vanguard

In one of bsteiner's posts, he mentioned that "If there are assets other than securities and mutual funds, a conventional corporate trustee will be able to deal with them, but Vanguard (or a similar institution) can't. That could be an issue if your children (or their guardian if they're minors) wan...
by Amy2017
Fri Aug 24, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 23
Views: 2591

Re: Executor - Vanguard

I have considered using Vanguard Trust as the trustee as well. After I told my estate planning attorney my intention, here is his response. To tell you the truth, I don't quite understand what he is saying. "As for the choice of Trustee, based on your comments, I would go with xxx who only handles t...
by Amy2017
Thu Aug 23, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 23
Views: 2591

Re: Executor - Vanguard

We are in the process of choosing a corporate executor and trustee. Is it better to have one company act as both an executor and trustee? Or it does not matter?
by Amy2017
Thu Aug 23, 2018 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

I totally forgot to ask him about accumulation trust during the meeting. However, after I learn more about these two trusts, I still prefer conduit trust over accumulation trust. There are several reasons. Our kids are minors. If they happen to receive the inherited IRA while still minors, the RMD s...
by Amy2017
Wed Aug 22, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

Went to the estate attorney’s office yesterday signing the engagement letter. The letter did specify that we authorize them to create a conduit trust for children regarding those Roth IRA/401K retirement accounts, etc. So this may answer some of your questions earlier. Although we need change the be...
by Amy2017
Sat Aug 18, 2018 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1908

Re: Automatic Investment in a Taxable Account

I have not paid close attention to my 401K and Roth IRA statements in the past. After I examine my year end Roth IRA statement from TD Ameritrade closely, I notice a line called 'income(Expense)' that has more than 3K in it. I am thinking maybe this is what is called 'Dividends' in my 401K. The comm...
by Amy2017
Sat Aug 18, 2018 7:04 am
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1908

Re: Automatic Investment in a Taxable Account

Yes. I am talking about index ETL and mutual fund here. So you are correct. What is an ETL? Sorry, I mean ETF. Now I realize I did use to see dividend on my Roth IRA account. But since I chose ETF automatic investment, it does not show on my statement any more. Sorry for my confusion earlier. So he...
by Amy2017
Fri Aug 17, 2018 10:27 pm
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1908

Re: Automatic Investment in a Taxable Account

Yes. I am talking about index ETF and mutual fund here. So you are correct.
by Amy2017
Fri Aug 17, 2018 10:09 pm
Forum: Investing - Help with Personal Investments
Topic: Today I retired [should I invest in rental properties?]
Replies: 25
Views: 2928

Re: Today I retired [should I invest in rental properties?]

We self manage quite a few rentals. So I am definitely not against investing in rental properties. My question is why now? The real estate price have been skyrocketed in almost everywhere. If you really want to investing in rental properties, you could wait until the market calms down a little. I do...
by Amy2017
Fri Aug 17, 2018 7:51 pm
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1908

Re: Automatic Investment in a Taxable Account

MotoTrojan wrote:
Fri Aug 17, 2018 6:39 pm
I’m not aware of any accumulating (no dividend) investment methods in the US.
I am confused by this statement. Suppose if you buy a stock, but never sell it, I assume the stock will have unrealized gain and loss, but incur minimal dividend or interest. Is my understanding correct?
by Amy2017
Fri Aug 17, 2018 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1908

Automatic Investment in a Taxable Account

We would like to set up an automatic investment plan in a taxable account. I have several questions on what I should do. We prefer ETF over mutual funds since it is more tax-efficient. However, I could not find any company offering automatic investment plan of ETF without a fee. On the other hand, i...
by Amy2017
Fri Aug 10, 2018 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

I went to the group workshop given by another attorney yesterday. The attorney seems good, but I think the first attorney is a better fit for me. Here are my thoughts. Hopefully this will help other people make their decision. One of the topics she emphasized a lot is Medicaid Planning for nursing h...
by Amy2017
Sun Aug 05, 2018 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Effect of Current Income on Decision to Retire Early
Replies: 76
Views: 6236

Re: Effect of Current Income on Decision to Retire Early

Sorry, I just wanted to suggest to Amy2017 that she just tell her boss that she has no further career goals. My boss is similar except he is well off. I told him 2 years ago to just forget about PR evaluations for me and focus his energy on others. He was surprised but not upset. There is no point ...
by Amy2017
Wed Aug 01, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Effect of Current Income on Decision to Retire Early
Replies: 76
Views: 6236

Re: Effect of Current Income on Decision to Retire Early

Frankly I am amazed at the number of folks posting on this forum that somehow have been savvy enough to amass a huge portfolio - like this one - $4,000,000 in invest-able assets - but somehow simultaneously these same people can't seem to be able to work out if they have adequate funds to retire. M...
by Amy2017
Wed Aug 01, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to find a conscientious/competent estate attorney?
Replies: 49
Views: 3704

Re: How to find a conscientious/competent estate attorney?

I just went through the same trouble of finding a competent estate planning attorney myself. Here is my experience. I was told that Martindale rating is a good source of qualification. But the problem is that it seems it is not very difficult to attain the highest AV Preeminent rating. All three est...
by Amy2017
Wed Jul 25, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 7
Views: 929

Re: Overfunded 529 Plan for future grandchildren

Also if this money is considered gifts from children to grandchildren instead of grandparents to grandchildren, it will not be part of any will or trusts of the grandparents. Is that correct?
by Amy2017
Sun Jul 22, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

I'm not an attorney or an expert, but that first comment sounds suspect. Why would you not want to appoint a guardian for your kids in a will? At first, I was thinking about who could provide our kids the same kind of comfort we provide by ourselves. I saw no one. Then again, I think we were not re...
by Amy2017
Sun Jul 22, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

Thank you so much for all the thoughtful comments. The other estate planning attorney my neighbor recommended has a free workshop in August. I think I will make my decision after attending her workshop so to compare. One thing the first estate planning attorney emphasized is that our state is a pro...
by Amy2017
Sun Jul 22, 2018 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

Thank you so much for all the thoughtful comments. The other estate planning attorney my neighbor recommended has a free workshop in August. I think I will make my decision after attending her workshop so to compare. One thing the first estate planning attorney emphasized is that our state is a prob...
by Amy2017
Sat Jul 21, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

1) All outright to spouse and outright or in short-term Trusts for children or others (Non-GST) - $2900 2) All outright to spouse and in long-term Trusts for children or others (Semi-GST) - $4400 $1500 for a lifetime of asset protection is a real bargain. Did you discuss separate trusts for any qua...
by Amy2017
Fri Jul 20, 2018 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

Asked my neighbor about the estate planning attorney. He said the attorney is very good, but expensive. His law firm charges $2500 for option 1 and they don't even offer option 2, which is exactly what the estate planning attorney had told me earlier that many law firms do not even offer option 2. S...
by Amy2017
Fri Jul 20, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

All are good questions. I googled this attorney's reviews online. I do see several clients mentioned that it took a little long for him to prepare the documents. However, the final documents were very comprehensive, detailed, and custom-tailored. He also answered their long emails with questions ver...
by Amy2017
Thu Jul 19, 2018 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

I will definitely ask him that question next time if we decide to choose his service. I am surprised that it takes six months too, but then again maybe he got lots of clients lately. The thing I have been afraid of is that the new arrangement may make our life inconvenient. But he promised the final...
by Amy2017
Thu Jul 19, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

It is likely that is how he plan to handle the retirement benefit. I was not knowledgeable enough to ask that question specifically. It was supposed to be 2 hour free consultation, which went on for 3 hours. He did say that their work is pretty extensive. So it will take close to 6 months to complet...
by Amy2017
Thu Jul 19, 2018 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

1) All outright to spouse and outright or in short-term Trusts for children or others (Non-GST) - $2900 2) All outright to spouse and in long-term Trusts for children or others (Semi-GST) - $4400 $1500 for a lifetime of asset protection is a real bargain. Did you discuss separate trusts for any qua...
by Amy2017
Thu Jul 19, 2018 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

Since my husband and I have never taken any drug in our life or even have a clue of where to buy them, I could not image my kids take drugs. The thoughts of that sound depressing. But I definitely get your point.
by Amy2017
Thu Jul 19, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 104
Views: 10431

Re: Draft a will with legalzoom or other online legal help

My husband and I finally got a chance to sit down with an estate planning attorney today to discuss our situation. With all of his qualification on paper, I think the attorney is a very good one. But I am somewhat sticker shocked. There are basically two options in our married couple scenarios. 1) A...
by Amy2017
Tue May 22, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 7
Views: 929

Re: Overfunded 529 Plan for future grandchildren

I discussed this overfunded 529 plan issue with an estate planning attorney. He confirmed that no generation skipping tax in our scenario. However, one of his comments made me pause. He said if we exhausted other tax-advantage accounts, 529 plan is still a good vehicle of investment even with the 10...
by Amy2017
Tue May 22, 2018 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 7
Views: 929

Re: Overfunded 529 Plan for future grandchildren

We live in Georgia. I don't intend to fund it for grandchildren. Just in case it is overfund for my children. Here is a link regarding generation-skipping transfer tax issue. I know we could get around with the gift tax, but not so sure about generating-skipping transfer tax. I am kind of lost on th...
by Amy2017
Tue May 22, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Overfunded 529 Plan for future grandchildren
Replies: 7
Views: 929

Overfunded 529 Plan for future grandchildren

Currently we have exhausted all of our tax advantage accounts (401K, Solo 401K, Roth IRA, FSA, HSA, I Bonds). The only thing we could still contribute more is 529 plan for my two kids. They are 10 and 7 years old right now. I read online that the overfunded 529 plan could be used for future grandchi...
by Amy2017
Mon Jan 29, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Still working out of greed or fear?
Replies: 46
Views: 5473

Re: Still working out of greed or fear?

I have been thinking about retirement for more than a year, but could not pull the plug because of the health insurance benefit. So I am in the category of working out of fear. I checked ACA and with no subsidy we need to pay more than $1200 per month just for medical insurance alone. I am in my lat...
by Amy2017
Thu Jan 25, 2018 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 747
Views: 214659

Re: Share your net worth progression

I suppose this is like anything else, where the people who respond are the people with the best stories . . . like the vacation posts that have the people who take amazing vacations. This may not be relevant to the OP. But just want to point out that there are many situations where people who respo...
by Amy2017
Fri Dec 08, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance
Replies: 8
Views: 1383

Re: Umbrella insurance

Our home, auto, and rental insurance are all with Allstate. But Allstate's umbrella insurance does not cover rental properties in our state. So my Allstate insurance agent just helped us buy umbrella insurance from USLI. I think insurance agents make more money by selling the umbrella insurance in t...