Search found 257 matches

by lstone19
Sat Jan 19, 2019 12:14 am
Forum: Personal Finance (Not Investing)
Topic: HSA [How do I organize expenses for future reimbursement?]
Replies: 22
Views: 1280

Re: HSA [How do I organize expenses for future reimbursement?]

has the IRS ever said the EOBs aren't good enough? Good question, particularly as every FSA custodian I've worked with (before switching to an HDHP and HSA) accepted EOBs for reimbursement with no requirement that I provide proof of payment. Some FSA custodians are set up to receive EOBs from your ...
by lstone19
Fri Jan 18, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Paying extra on mortgage - what am I missing?
Replies: 53
Views: 3354

Re: Paying extra on mortgage - what am I missing?

Oh.....I get it now. Thanks Willthrill and lstone. What cleared it for me is when lstone explained "you've skipped way ahead on amortization schedule". That clears up everything. So in a nutshell, when we prepay a lump sum, the bank still use the original amortization table. The monthly PI remains ...
by lstone19
Fri Jan 18, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Paying extra on mortgage - what am I missing?
Replies: 53
Views: 3354

Re: Paying extra on mortgage - what am I missing?

In my experience this is not true. Bank loans are based on monthly compounding, in harmony with the payment schedule. Some bank accounts that earn interest are compounded daily. But for mortgage loans the interest is calculated based on the quoted nominal rate/12 monthly. Compounding in the calcula...
by lstone19
Fri Jan 18, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 187
Views: 19486

Re: Fidelity as a one stop shop

We’ve since acquired the Alliant 2.5% card (our spending level will cover the annual fee) so the new Fidelity/Elan cards, after spending enough to meet the cash-out minimum, now sit in a drawer. This is us as we use the Alliant card too, and my Fidelity card sits in a drawer....but not sure what th...
by lstone19
Thu Jan 17, 2019 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: HSA provider good for investment for individual account
Replies: 17
Views: 952

Re: HSA provider good for investment for individual account

Fidelity does not charge any HSA custodial fees. However, you will pay normal commissions on trades and any mutual funds you buy will have their expenses the same as any other Fidelity brokerage account.
by lstone19
Thu Jan 17, 2019 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Paying extra on mortgage - what am I missing?
Replies: 53
Views: 3354

Re: Paying extra on mortgage - what am I missing?

Nate is absolutely correct above. I think the OP is making the assumption that pre-paying $100k eliminates the payments that would have taken the balance from $100k to $0. But that’s wrong; it eliminates the payments that take it from the current balance (let’s call it X) to X-$100k. And since the h...
by lstone19
Thu Jan 17, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: HSA provider good for investment for individual account
Replies: 17
Views: 952

Re: HSA provider good for investment for individual account

For Fidelity (no maintenance fee ), it offers commission-free iShares ETF, other no transition fee mutual funds, and stocks. Again, the Fidelity HSA is a full-fledged brokerage account. Anything you can buy in any other Fidelity brokerage account, you can buy in the Fidelity HSA. Unlike some HSA cu...
by lstone19
Thu Jan 17, 2019 12:05 pm
Forum: Investing - Theory, News & General
Topic: BenefitWallet HSA - anyone successfully liquidated 100% of investments? (update: also transfer/rollover issues)
Replies: 36
Views: 1985

Re: BenefitWallet HSA - anyone successfully liquidated 100% of investments? (update: also transfer/rollover issues)

Here's another mystery related to the "Sell All" of my Vanguard Total Bond Market: my partial-month accrued dividends are still missing-in-action. (I confirmed in the Total Bond prospectus that the dividends are declared daily and distributed monthly. [ . . .] You generally will continue earning di...
by lstone19
Thu Jan 17, 2019 9:17 am
Forum: Investing - Theory, News & General
Topic: BenefitWallet HSA - anyone successfully liquidated 100% of investments? (update: also transfer/rollover issues)
Replies: 36
Views: 1985

Re: BenefitWallet HSA - anyone successfully liquidated 100% of investments? (update: also transfer/rollover issues)

I think this is merely saying Fidelity will not do transfers from brokerage investment sub-accounts, only from the master cash account at the HSA custodian. Probably what Fidelity should have been doing all along but people start seeing ways around transfer/closure fees by moving everything to the i...
by lstone19
Thu Jan 17, 2019 9:08 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Has anyone else gotten any hints that Fidelity HSA may no longer be willing to do trustee-to-trustee transfers of HSA accounts from other HSA vendors? (But, presumably, is still willing to accept 60-day-rollovers?) I got an "interesting" report over on my BenefitWallet-specific thread last night, w...
by lstone19
Wed Jan 16, 2019 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: HSA provider good for investment for individual account
Replies: 17
Views: 952

Re: HSA provider good for investment for individual account

According to Fidelity website, Fidelity HSA is also a brokerage account. Can someone who has used Fidelity HSA as individual account not through employer provide some feedbacks on investment options? It’s not “also” a brokerage account, it IS a brokerage account. Anything you can buy in any other F...
by lstone19
Wed Jan 16, 2019 10:31 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

And to make things even more confusing, contributions you make via a cafeteria plan get reported as employER contributions. Causes no end of confusion for first-timers.
by lstone19
Wed Jan 16, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 187
Views: 19486

Re: Fidelity as a one stop shop

Now that makes sense. On the rare times we've had unauthorized charges, AMEX has been proactive in flagging them and bringing them to our attention. Sometimes in "real time" - as in a phone call while transaction is in progress. What have people experienced with Fido's VISA? Do they proactively fla...
by lstone19
Wed Jan 16, 2019 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tax prep software with direct input to forms rather than hand holding?
Replies: 12
Views: 962

Re: Tax prep software with direct input to forms rather than hand holding?

Thanks for the clarification. Entering W2 data directly into a return would be data entry, not calculated, right? Depends on the software and what is meant by "directly". E.g., the software might want W-2 info entered on a "W-2 screen" from which the software will add "all" W-2 box 1 entries for fo...
by lstone19
Tue Jan 15, 2019 10:11 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Sorry for the dumb question, but I want to make sure I'm doing things absolutely correctly with a 60 day rollover. Is your Day 5 step really as simple as using their website: HSA > Request Reimbursement ? Since I'm not technically 'reimbursing' anything, the wording of reimbursement vs disbursement...
by lstone19
Mon Jan 14, 2019 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with HSA to HSA trustee transfer?
Replies: 41
Views: 1838

Re: Experience with HSA to HSA trustee transfer?

I have just opened a new Fidelity HSA account and also just linked my Fidelity Checking account to my OPTUM HSA account. In the next few days, I will ask for a distribution of the full investment amount into the Fidelity Checking account. When that is completed, I will transfer the full amount from...
by lstone19
Sun Jan 13, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion
Replies: 36
Views: 2894

Re: Roth conversion

We are doing Roth conversions to the top of 24% both last year and this year (our last pre-IRMAA year (almost - my wife turns 65 in Dec 2021)). I'm mostly retired, my wife is still working). Why? We think we are unlikely to see lower income tax rates in the future (both due to income and where we th...
by lstone19
Sun Jan 13, 2019 9:52 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

I've been doing the opposite, sold all in TDA and moved back to HSAbank. After selling all and transferring back to HSAbank in mid-December, I had to wait until the beginning of this month for final dividend to post (money was in a declare daily, pay monthly bond fund). Transferred that cash last w...
by lstone19
Sat Jan 12, 2019 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with HSA to HSA trustee transfer?
Replies: 41
Views: 1838

Re: Experience with HSA to HSA trustee transfer?

Warning for those who are contemplating HSA to HSA 60-day-rollovers: Somewhere in the very long current Fidelity HSA thread*, there is an episode where, as I recall, someone got all enthused about saving the $25 fee by doing a rollover rather than a trustee-to-trustee transfer. But they hit a snag ...
by lstone19
Fri Jan 11, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Advice for retiring parents: converting 401k to Roth IRA
Replies: 19
Views: 1651

Re: Advice for retiring parents: converting 401k to Roth IRA

Even though she's over 59-1/2, I believe the five year rule for penalty-free withdrawals of earnings from a Roth IRA still applies (the five-year rule for withdrawals from conversions does not apply once over 59-1/2). So it's in your mother's best interests to get a Roth created this year and get th...
by lstone19
Fri Jan 11, 2019 9:28 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

I moved cash to TDA and then transferred in kind (ETFs and cash) to Fidelity, and had no fee charged. It was all done online. I think transferring from HSA Bank would be a more manual process. I had a -$2.50 balance from the Jan fee at HSA Bank when I called to close my account a few days ago, they...
by lstone19
Wed Jan 09, 2019 2:12 pm
Forum: Investing - Theory, News & General
Topic: ESPP Purchase/Sale Specifics
Replies: 11
Views: 737

Re: ESPP Purchase/Sale Specifics

Just wanted to follow-up, as it did not go exactly as I expected. The ESPP purchase date was 12/31/2018, but the shares didn't end up in my account until Jan 7th. On 12/31, the stock closed at 62.13 so the purchase price at a 15% discount was 52.81. Interesting. My wife's employer has an ESPP admin...
by lstone19
Tue Jan 08, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Job Loss Checklist
Replies: 18
Views: 1892

Re: Job Loss Checklist

UI: This will depend on state law. Review what your state says about severance payment. Our state allowed applying immediately and collecting later after severance ends. The major advantage here was that unemployment amount is based on what you made in the months prior to application even if paymen...
by lstone19
Tue Jan 08, 2019 8:30 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

From The Finance Buff, among his list of advantages of the new Fidelity HSA: Just one integrated account; no transfers back and forth between different entities The first point may feel trivial but having dealt with multiple accounts over the years where you have one “savings” account and a second ...
by lstone19
Sat Jan 05, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: SALT Limitation: Better to claim state sales tax deduction instead of income tax deduction if above the 10k Limit?
Replies: 14
Views: 1900

Re: SALT Limitation: Better to claim state sales tax deduction instead of income tax deduction if above the 10k Limit?

Here's a somewhat similar example from the pre-2018 tax law: if taxpayer made 4 state estimated payments of $4,000 each but mistakenly only deducted the first 3 = $12,000, and received a $2,000 state refund, the taxpayer could not successfully argue that the $2,000 refund came from the $4,000 that ...
by lstone19
Fri Jan 04, 2019 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: SALT Limitation: Better to claim state sales tax deduction instead of income tax deduction if above the 10k Limit?
Replies: 14
Views: 1900

Re: SALT Limitation: Better to claim state sales tax deduction instead of income tax deduction if above the 10k Limit?

David -- for this to be correct, the $2,000 refund would have to be deemed to have come from the state tax amount that was not deducted rather than the $10,000 that was deducted. I doubt the IRS will accept that viewpoint. Why wouldn't they? The refund is of the last dollars paid, not the first. By...
by lstone19
Fri Jan 04, 2019 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Using life insurance for Roth Contributions
Replies: 8
Views: 593

Re: Using life insurance for Roth Contributions

Since you're over 59.5 and can freely take money out of Roths without penalty, the only practical difference between a taxable account and a Roth is you pay taxes on the earnings in a taxable account but you don't on the earning in a Roth. As such, why would you not put as much as possible in a Roth...
by lstone19
Fri Jan 04, 2019 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Fund Transfer Missing
Replies: 6
Views: 524

Re: Fund Transfer Missing

I'd wait until after market open this morning to see if anything has changed overnight. You have the added complexity here that it puts you over the contribution limit so another part of Vanguard's system may be rejecting it and either sending it back to the bank or putting it in some sort of suspen...
by lstone19
Thu Jan 03, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Wash sale
Replies: 6
Views: 445

Re: Wash sale

It sounds like their Dec. 17 distribution was reinvested - that's the purchase of replacement shares triggering the wash sale as officially cash was distributed and used immediately to make a purchase. If you then sold everything, while there may technically be a wash sale (depending on timing of sa...
by lstone19
Wed Jan 02, 2019 6:43 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Yes, you have to use the excess contribution form. Return of an excess contribution is a different distribution code on the 1099-SA plus they have to calculate the earnings on the excess contribution and return that as well.
by lstone19
Wed Jan 02, 2019 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Tax on Foreign CDs after moving to CA from IA
Replies: 2
Views: 195

Re: Tax on Foreign CDs after moving to CA from IA

You pay taxes when the interest was paid. Were these CDs paying interest over the five years or just in one large chunk at maturity? If the former, you should have been paying taxes on it each year. I have never seen a US bank issued CD with a maturity over one year that paid interest only at maturi...
by lstone19
Tue Jan 01, 2019 11:36 pm
Forum: Investing - Theory, News & General
Topic: Different times for cash to settle at fidelity?
Replies: 10
Views: 590

Re: Different times for cash to settle at fidelity?

First, the accounts are both cash. But even if one were margin, not sure if that would explain it. My wife's account showed $6k available to trade, but not able to transfer. Assuming other assets in the account, in a margin account, you can withdraw cash against an uncleared deposit due to the marg...
by lstone19
Tue Jan 01, 2019 10:50 pm
Forum: Personal Consumer Issues
Topic: Which iPhone: 8 or XR?
Replies: 45
Views: 3124

Re: Which iPhone: 8 or XR?

I’d get the XR. Not because I always want the latest and greatest but because I’ve found spending a little extra for something newer will have a longer time until it’s obsolete and needs to be replaced. Getting an extra year out of an XR compared to an 8 makes up for the higher price.
by lstone19
Tue Jan 01, 2019 10:25 pm
Forum: Investing - Theory, News & General
Topic: Converting 401k to Vanguard IRA
Replies: 2
Views: 228

Re: Converting 401k to Vanguard IRA

You’ll need to find out what your plan says. I retired from a megacorp two years ago that had gone through a big merger about five years ago. I found out at retirement that there was a different minimum time before you could have your 401k transferred out depending on which previous company you came...
by lstone19
Tue Jan 01, 2019 6:58 pm
Forum: Investing - Theory, News & General
Topic: Different times for cash to settle at fidelity?
Replies: 10
Views: 590

Re: Different times for cash to settle at fidelity?

Is your account margin and your wife’s cash?

Are you logging into your wife’s account to make the transfer? My wife and I have things set up such that we each have trading authority for the other from our own logins. But that does not extend to things like cash transfers.
by lstone19
Mon Dec 31, 2018 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Can you have an HSA and FSA?
Replies: 20
Views: 786

Re: Can you have an HSA and FSA?

I was unaware that one could have a HDHP with an HSA and also a limited purpose FSA for dental or dependent care. It's unfortunate that dependent care FSAs have been brought into this discussion. Dependent care FSAs are a separate type of FSA completely independent of health care FSAs or what type ...
by lstone19
Mon Dec 31, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Another Annuity Question
Replies: 14
Views: 825

Re: Another Annuity Question

Here are the details of the annuity (Vanguard) that I am considering: Single 15 Year Period Certain Deposit Amount: $488,068.20 Monthly Income: $3,485.00 Total Amount Paid out after 15 years: $627,300.00 While they says monthly "income", it's really monthly cash flow, a combination of interest and ...
by lstone19
Mon Dec 31, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Another Annuity Question
Replies: 14
Views: 825

Re: Another Annuity Question

10-year certain SPIAs pay fairly poorly. Looking at immediateannuities.com, if I'm 60, and I buy a $100,000 10-year SPIA to get me to 70, they will pay me $11,500 a year for 10 years. That's only 115,000 returned on my original investment of 100,000, which is only 1.4% a year. CDs probably would do...
by lstone19
Mon Dec 31, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Another Annuity Question
Replies: 14
Views: 825

Re: Another Annuity Question

I have looked at CD's Treasuries, MM......they do not provide enough annual income during this period. If someone can suggest an investment tool / method that I can receive a minimum of $40k per year, I'd be open to it. From what I can tell, the annuity is the only way to get there. This statement ...
by lstone19
Mon Dec 31, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Another Annuity Question
Replies: 14
Views: 825

Re: Another Annuity Question

SPIAs only make sense if you get some kind of life contingent option. That is the area where insurance and annuities can gain advantages for policy holders by using pools of annuitants and giving you "mortality credits" in the calculation of the SPIA payout. The fixed period only SPIAs don't make a...
by lstone19
Mon Dec 31, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Can you have an HSA and FSA?
Replies: 20
Views: 786

Re: Can you have an HSA and FSA?

I've never heard of an employer that has you commit to an FSA at a separate time from selecting your insurance plan given the eligibility tie. And 12/31 seems very late in the year for open enrollment for 2019. Usually both are selected at the same time since neither can be changed unless there is a...
by lstone19
Sun Dec 30, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7604

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

In my view, property managers and landlords who think like this deserve to fail. They appear to think they're in the credit business rather than the leasing business. If you're a bank, if someone wants a loan but has lots of assets and no regular income, they can say you really don't need a loan, ju...
by lstone19
Sun Dec 30, 2018 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Selling stock for dummies
Replies: 7
Views: 493

Re: Selling stock for dummies

If there is a fee to sell, be sure to look for the option to sell “all or none”. Otherwise you could be hit with multiple fees to sell the number of shares you requested. Every brokerage I've used only charges multiple commissions if a limit order executes over multiple days. Multiple executions of...
by lstone19
Sat Dec 29, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Paying Taxes with IRA?
Replies: 16
Views: 880

Re: Roth Conversion Paying Taxes with IRA?

Now that my wife and I are north of 59-1/2, we view our retirement accounts as just more current assets. Since we're semi-retired with earned income no longer fully meeting cash needs, assets are being spent down in a defined order as needed. That includes the cash needed to pay taxes on Roth conver...
by lstone19
Thu Dec 27, 2018 11:25 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 860
Views: 65122

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Not with Fidelity, but my guess is that you'll need those deposits to confirm the account was configured correctly by the bank. IOW, "Enter the values of the 2 small deposits made into your account...". Expect the amounts to be withdrawn shortly afterward. I don’t think they can withdraw it. Per Fi...
by lstone19
Thu Dec 27, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to report my child's income ($1600)?
Replies: 31
Views: 2916

Re: Do I need to report my child's income ($1600)?

You would prepare a tax return in this case so that he would get back the withholdings (if any), right? In my son's case his W2 form has NO federal or state tax withholdings. So, he does not file a tax return and I don't include his $1600 EARNED INCOME in my return either. This is because he is my ...
by lstone19
Wed Dec 26, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to report my child's income ($1600)?
Replies: 31
Views: 2916

Re: Do I need to report my child's income ($1600)?

celentano wrote:
Wed Dec 26, 2018 11:49 am
Thanks for quick response! That is great, but I am very surprised that Uncle Sam let's me keep the whole thing! Can you tell me at what amount do I need to report it? I am sure there must be limit to 'free-ride'.
YOU don't keep the whole thing - your son does. It's his money, not yours.
by lstone19
Wed Dec 26, 2018 4:14 pm
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 20
Views: 1412

Re: reasons to avoid indirect HSA rollover?

And to close out my issue directly above, HSAbank finally posted the reversal of the distributions on Monday, seven business days after I mailed it to them. Now I just need to wait for Fidelity to process the request for a direct transfer. At this point, I'm probably better that it not make it to HS...
by lstone19
Wed Dec 26, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Donor Advised Fund for small donors - my experience
Replies: 49
Views: 2775

Re: Donor Advised Fund for small donors - my experience

Presently, a few days shy of the anniversary of my original contribution, the $8 is still in my account. I was never charged. It looks like Schwab's fund works the same as Fidelity's and the fees are built into the expenses of the funds the money is invested in rather than a separate deduction. Sch...
by lstone19
Mon Dec 24, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: 1040 ES - Non-Equal Payments - ok?
Replies: 24
Views: 1181

Re: 1040 ES - Non-Equal Payments - ok?

Shouldn't non-equal payments be okay when you consider that the number of months in each estimated tax "quarter" are not the same? The number of months in each estimated tax quarter are 3-2-3-4, not 3-3-3-3. So, it stands to reason that even if your income were equally distributed throughout the ye...