That's wonderful! I hope the change reinvigorates you, and helps you at 2 a.m. as well!frugalecon wrote: ↑Tue Mar 12, 2024 7:58 pm Just a quick update…literally the day after I posted this thread I was offered an opportunity for a significant change in my role at work. It is an interesting opportunity, a role that doesn’t present itself very often. It will have challenges, but I was excited to have something new. I think it has the potential to be a good “final act” for me. Who know, maybe I will stick around longer than I had thought?
But seriously, many thanks for the kind suggestions and expressions of support. It meant a lot to me.
Search found 1100 matches
- Tue Mar 12, 2024 8:45 pm
- Forum: Personal Finance (Not Investing)
- Topic: Mental health or Money: navigating the OMY question
- Replies: 48
- Views: 4796
Re: Mental health or Money: navigating the OMY question
- Tue Mar 12, 2024 8:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Divorce settlement money from IRA, cash, or 401k
- Replies: 15
- Views: 1339
Re: Divorce settlement money from IRA, cash, or 401k
If you could use the IRA assets, maybe there's an opportunity to convert the remainder of the IRA to Roth status so that you are free and clear to do back door Roth contributions for the foreseeable future. Not sure how many working years you have left, but something to consider.
- Mon Mar 11, 2024 12:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: How Much Cash Do You Keep In Your Home?
- Replies: 207
- Views: 14924
- Thu Mar 07, 2024 8:54 pm
- Forum: Personal Consumer Issues
- Topic: Best < $100 purchase?
- Replies: 299
- Views: 55817
Re: Best < $100 purchase?
3 universal remotes for my TV so I had one every place I could sit. Roughly $10ish each and worth every penny so far! I pick up multimeters at estate sales, usually $5 or so. One in the kitchen, one in the toolkit, one in the car. Great to have for checking batteries, alternator output, household current. (Of course, don't use them unless you take appropriate precautions.) This idea of multiple duplicates in useful locations has a lot of merit. I first learned of this technique from my eye doctor when I finally needed reading glasses. "They're cheap. Put a pair everywhere. You'll be a lot happier." Having moved from a 1-story house with no basement to a 2-story with basement, I have found it extremely useful to have a rudimentary...
- Thu Mar 07, 2024 8:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: feeling stuck with kid expenses and this phase of life
- Replies: 61
- Views: 7382
Re: feeling stuck with kid expenses and this phase of life
Most parents will feel this way at some point or another. But your thread title has the answer. It's a phase, just like all chapters. You're not stuck, you simply have to re-deploy those resources elsewhere for now.
I'm also interested in the size of your taxable account, as KF's suggestion is exactly what I've been doing. I see the light at the end of the tunnel with some of the big ticket items, or at least a multi-year reprieve.
If you need to dial back the savings, I would likely start with reducing but not eliminating Roth IRA contributions, then reducing but not eliminating Spouse 401k, until your budget works. I wouldn't change the farmland payments.
I'm confident you'll adjust. What other option is there?
I'm also interested in the size of your taxable account, as KF's suggestion is exactly what I've been doing. I see the light at the end of the tunnel with some of the big ticket items, or at least a multi-year reprieve.
If you need to dial back the savings, I would likely start with reducing but not eliminating Roth IRA contributions, then reducing but not eliminating Spouse 401k, until your budget works. I wouldn't change the farmland payments.
I'm confident you'll adjust. What other option is there?
- Thu Feb 29, 2024 11:11 am
- Forum: Investing - Theory, News & General
- Topic: Consolidating 529 accounts, how to?
- Replies: 4
- Views: 522
Re: Consolidating 529 accounts, how to?
I'm not sure but something to keep in mind is that some states have a tax recapture provision if you transfer out of their 529.tommy85 wrote: ↑Thu Feb 29, 2024 9:03 am I have two 529 accounts with myself as beneficiary for both. One is at Vanguard and other at my state 529 account. I want to consolidate to fidelity. I read about the 12 month rule but also read that if I change the beneficiary, I could work around the limit. Could somebody walk me through how to do this.
Thanks in advance!
- Tue Feb 27, 2024 9:53 pm
- Forum: Personal Finance (Not Investing)
- Topic: When did your Net Worth surpass your lifetime earnings?
- Replies: 93
- Views: 11642
Re: When did your Net Worth surpass your lifetime earnings?
Hasn't happened for me, and it may not. I'm summing "Taxed Medicare Earnings" to gauge my lifetime earnings.
- Fri Feb 16, 2024 11:18 pm
- Forum: Personal Consumer Issues
- Topic: Happy Valentine’s Day! What’s your love song?
- Replies: 88
- Views: 4457
Re: Happy Valentine’s Day! What’s your love song?
Hey Baby Hey
Greg Brown
https://www.youtube.com/watch?v=NeCaLAfDAR0
I always get something in both of my eyes when I hear it.
Greg Brown
https://www.youtube.com/watch?v=NeCaLAfDAR0
I always get something in both of my eyes when I hear it.
- Wed Feb 14, 2024 10:48 am
- Forum: Personal Finance (Not Investing)
- Topic: Help with Taxes and Owing More than I Can Afford
- Replies: 36
- Views: 3165
Re: Help with Taxes and Owing More than I Can Afford
I think the answer is that you can do it all on your own, but for me, it's akin to me saying "yes, I could rewire my entire house if I look at enough videos on YouTube and maybe I won't burn down my house" or I could just pay an electrician their fee and rest easy knowing I have someone that actually is trained to deal with it. So yeah, I could probably do it all myself, but when your head is swimming and you are in uncomfortable waters, sometimes you need a rescue chopper to come even if you can swim ok. Just wanted to say that: raycpact advice seems very good in this situation I'm sorry this happened to you I think it's important to recognize that your frame of mind alluded to above seems healthy and your conviction to not make...
- Mon Feb 12, 2024 9:28 am
- Forum: Personal Consumer Issues
- Topic: Supermarket pizza - any good ones? Any great ones?
- Replies: 145
- Views: 12483
- Mon Feb 12, 2024 9:27 am
- Forum: Personal Consumer Issues
- Topic: Supermarket pizza - any good ones? Any great ones?
- Replies: 145
- Views: 12483
Re: Supermarket pizza - any good ones? Any great ones?
+2mjg wrote: ↑Sun Feb 11, 2024 3:04 pm+1 Home Run Inn pizza is very good for a frozen pizza. We like the pepperoni or the pepperoni + sausage or the meat lovers versions. At their website you can find out where it's carried local to you.
The previously mentioned Motor City Pizza from Costco is also good.
I don't really buy frozen pizza anymore, but when I did Home Run Inn was always a "go-to" option.
- Fri Feb 09, 2024 9:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: Need some assurance for my resignation countdown
- Replies: 53
- Views: 4783
Re: Need some assurance for my resignation countdown
This reads like a recipe for retirement. Don't put up with that nonsense at your job. It's time.JustHappen wrote: ↑Fri Feb 09, 2024 8:03 pm If I stay in this job, it will mean lots of overtime at night and weekend.
two teenage kids
Total assets (excluding primary residence): 7.4 million with no debt.
Expense: $160K
- Thu Feb 08, 2024 10:02 pm
- Forum: Personal Consumer Issues
- Topic: How do you buy a mattress?
- Replies: 47
- Views: 3748
Re: How do you buy a mattress?
+1Doom&Gloom wrote: ↑Thu Feb 08, 2024 9:40 pmThat's how I made my last purchase several years ago. Bought from a semi-local manufacturer.
Unless there's some new mattress invention, I'll never buy anything but all-latex again although I don't plan to replace this one. YMMV.
OP, you have to do a bit of research. I was able to return a mattress that wasn't right for me.
Mattresses can be (but don't have to be) expensive. Comfortable and quality sleep is high on my list of things I'm willing to pay a premium for. Other things include toilet paper, flight departure times, and beer/whiskey/wine.
- Thu Feb 08, 2024 9:13 pm
- Forum: Personal Investments
- Topic: Liquidate my individual stocks now?
- Replies: 20
- Views: 2703
Re: Liquidate my individual stocks now?
I feel like I just had an "ah-ha" moment....but could you please explain this for me so I'm certain I understand? I'm interested in a DAF but just starting to think about it. Thank you, in advance.
Apologies to OP. I think that if you are selling anything to pay for stuff, then you should start with these equity shares (probably look at which holdings represent the largest % of portfolio and/or which have the lowest capital gains). If you aren't selling equity shares to pay for stuff, then there's really no issue since your heirs will eventually receive the step-up in basis.
- Thu Feb 08, 2024 8:35 pm
- Forum: Personal Finance (Not Investing)
- Topic: Costs Of Kids From BH Parents?
- Replies: 59
- Views: 5124
Re: Costs Of Kids From BH Parents?
We funded 529s early and the growth now has us thinking that additional contributions will possibly lead to over-funding. Don't think we are quite there yet, but we now only fund the maximum for state tax exemption each year. When you say you funded 529 plans early how much did you put in early and then continue to do if any after that? Should have said we started funding early. $6000 per year starting in year of birth for each (above our exemption limit at the time), now at $5000 per year for each. Invested in the "aggressive" options. Nearly at $35k/year for 4 years for each child now, with several more years before college starts. Likely not what many would consider over-funding, but our initial goal was to be able to pay for ...
- Thu Feb 08, 2024 2:34 pm
- Forum: US Chapters
- Topic: Post your Financial Milestone Announcements Here
- Replies: 3606
- Views: 562472
Re: Post your Financial Milestone Announcements Here
My taxable account has achieved $600k (about 50% are gains). Likely to be used to fund life between retirement and Social Security.
Thanks Bogleheads for all the helpful advice over the years!
Thanks Bogleheads for all the helpful advice over the years!
- Thu Feb 08, 2024 10:48 am
- Forum: Personal Finance (Not Investing)
- Topic: Costs Of Kids From BH Parents?
- Replies: 59
- Views: 5124
Re: Costs Of Kids From BH Parents?
Great write up; this also reflects my experience.
I tell ya, it feels like a big pay raise once they start going to public school. My oldest just started kindergarten and I went from paying $478/week daycare to $400/month for after-school care (~2 hours a day). I'm currently paying $507/week for my youngest, and very much looking forward to kindergarten in the fall!
I'll also say that Play It Again Sports has been pretty clutch for me, getting used equipment like cleats and ice skates/helmet/stick, etc.
- Wed Feb 07, 2024 10:35 pm
- Forum: Personal Consumer Issues
- Topic: Best < $100 purchase?
- Replies: 299
- Views: 55817
Re: Best < $100 purchase?
My fav is one that goes by the unappetizing name of "Colon Cleaner". I will try yours to compare if I find it in my local hot sauce store. You might want to give mine a try, if you haven't already. I will give it a try if I can find it. You should be able to find the Tabasco Scorpion at most grocery stores. Colon cleaner review I just found: https://pepperscale.com/colon-cleaner-hot-sauce/ I see it is available online. Here is the same reviewer's review of yellowbird : https://pepperscale.com/yellowbird-habanero-hot-sauce/ And if you are looking for other recommendations, here is their list of top scorers: https://pepperscale.com/hot-sauce-rankings/ Thank you for this resource. I was looking for my own particular favorite, but it...
- Wed Feb 07, 2024 10:25 pm
- Forum: Personal Consumer Issues
- Topic: Best < $100 purchase?
- Replies: 299
- Views: 55817
Re: Best < $100 purchase?
I have to imagine the "return on investment" for that purchase is ... well, incalculable.Taylor Larimore wrote: ↑Wed Feb 07, 2024 7:03 pm Bogleheads:
My best $100 purchase was probably my first Sunfish sailboat purchased many, many years ago. It taught me the joys of sailing.
Best wishes.
TaylorJack Bogle's Words of Wisdom: "Not everything that counts can be counted, and not everything that can be counted counts.”
Perhaps a guidepost for other BHs that are pursuing new hobbies.
- Wed Feb 07, 2024 10:38 am
- Forum: Personal Finance (Not Investing)
- Topic: What is your HSA strategy?
- Replies: 52
- Views: 6658
Re: What is your HSA strategy?
We were planning on cash flowing medical expenses and just continuing to fund and invest via the HSA into retirement. From what I have heard/read you can save receipt/bills for medical expenses over the years and reimburse yourself later down the line. Is there any advantage to either strategy or is it just a matter of preference? As others have mentioned, reimbursing yourself for current expenses could make a lot of sense if it helps you max out other tax-advantaged accounts. And it may be true that stashing those HSA reimbursements in taxable may not result in that big of a tax drag anyway. But, if you're already maxing other tax-advantaged accounts, then it makes good sense to use your approach. I'll note that you can reimburse yourself...
- Wed Jan 31, 2024 2:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: Another "Can I afford this house" thread
- Replies: 55
- Views: 5198
Re: Another "Can I afford this house" thread
+1cmr79 wrote: ↑Wed Jan 31, 2024 1:22 pm OP, it is a bit of a calculated risk for you to build the planned house at his time, but if your expectations (future income likely to continue to increase) are reasonable, I agree that this is far from the worst lifestyle inflation your family could wander into. We also took a similar calculated risk a few years ago on housing after a big increase in income to avoid having to move twice with school-age kids, so a bit different reasons vs you, and it worked out fine. Make your best guess as to the probabilities that this works out and move forward confidently.
If I were you, I would not liquidate my taxable account. I would either wait 1-2 years, or take the loan.
- Mon Jan 29, 2024 9:44 pm
- Forum: US Chapters
- Topic: Post your Financial Milestone Announcements Here
- Replies: 3606
- Views: 562472
Re: Post your Financial Milestone Announcements Here
This week my 401k balances have added a second comma!
As a further illustration of the magic of starting early, the balance from my first employer is nearly 2.5x that of my current employer, despite only working ~2 years longer at the first job (and lower contributions back then, too!)
Although I've not always made the optimal choice with respect to pre- vs. post-tax contributions*, I'm certainly not complaining that one-third of my total 401k balance is Roth.
Cheers,
DX
* Thanks to Klangfool and others on this wonderful forum for helping me understand the advantages (for my circumstances) of traditional 401k contributions.
As a further illustration of the magic of starting early, the balance from my first employer is nearly 2.5x that of my current employer, despite only working ~2 years longer at the first job (and lower contributions back then, too!)
Although I've not always made the optimal choice with respect to pre- vs. post-tax contributions*, I'm certainly not complaining that one-third of my total 401k balance is Roth.
Cheers,
DX
* Thanks to Klangfool and others on this wonderful forum for helping me understand the advantages (for my circumstances) of traditional 401k contributions.
- Thu Jan 25, 2024 8:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: New Fidelity Private Client Policy?
- Replies: 44
- Views: 6577
- Thu Jan 25, 2024 11:09 am
- Forum: Personal Investments
- Topic: What type of investment for UTMA accounts
- Replies: 11
- Views: 793
Re: What type of investment for UTMA accounts
And be sure to look at tax gain harvesting along the way if you go with a stock fund.
- Thu Jan 25, 2024 8:36 am
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2023
- Replies: 435
- Views: 154190
Re: Fidelity free Turbotax 2023
I downloaded and installed TT 2023 CD on my laptop for $5. TT downloaded my W-2 from ADT. I haven't prepared income taxes myself for decades and have hired tax professionals. I will give it a try this year or practice. Do I only have to follow the TT directions? Blindly following TT directions makes me uncomfortable. Are paper tax forms still available? The great thing with download version of TT is you can switch back & forth between "form mode"and interview mode any time. So you can answer a few guided prompts, then switch to the form mode to see how it changed the different forms. I'm sure printable paper tax forms are still available on IRS.gov, but I've used TT as a way to help me understand these nuances early on when I...
- Tue Jan 23, 2024 9:09 pm
- Forum: Personal Consumer Issues
- Topic: Wine Decanter Recommendation?
- Replies: 5
- Views: 607
Re: Wine Decanter Recommendation?
Thanks, one of the options I was looking at is this one: https://www.amazon.com/dp/B01MXO590G/?c ... _lig_dp_it
Seems like it would do the trick but how carefully does one need to pour the wine to avoid a huge mess?
- Tue Jan 23, 2024 8:39 pm
- Forum: Personal Consumer Issues
- Topic: Wine Decanter Recommendation?
- Replies: 5
- Views: 607
Wine Decanter Recommendation?
I'm in the market for a wine decanter, I don't have one currently (I do have a small handheld pour-through "aerator" device). I've seen a few reasonably priced options that have a wide base with a large surface area, but, to me, they look a bit...unwieldy. Is it hard to pour a glass out of one of these things? I don't want to spill all over my guests. Any recommendations or advice?
Thank you,
DX
Thank you,
DX
- Tue Jan 23, 2024 10:23 am
- Forum: Personal Consumer Issues
- Topic: Which Boston suburb to settle?
- Replies: 198
- Views: 18124
Re: Which Boston suburb to settle?
Hi, Bogleheads fellows, We are considering moving to Boston suburb. We are a family of 4, considering having 3rd kid. Here are the criteria we are looking in priority order: Good public schools Safe Good road condition in winter as someone who never lived in city with snow Good diversity Easy access to tennis and swimming as these my hobbies Andover. Their public school is decent but Phillips Academy really stands out. Good to know I moved to Andover a couple years ago, we are also a family of 4. So far we are very happy with our choice. We also don't commute for work so that makes it easy to live a bit further out from the city. Still, it's only about 20 miles away and if we take the kids to the museum or whatever on a weekend morning it'...
- Mon Jan 22, 2024 11:46 am
- Forum: US Chapters
- Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
- Replies: 429
- Views: 41961
Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
You are an inspiration, sir! Happy Birthday!
- Tue Jan 09, 2024 8:10 pm
- Forum: Investing - Theory, News & General
- Topic: 2024 Hedge Fund contest
- Replies: 156
- Views: 26843
Re: 2024 Hedge Fund contest
Although I love the direction NDVA (Indiva Ltd) is heading from a short position, I actually selected NVDA (Nvidia)...I'm guessing this was simply a fat-finger during data entry.Darth Xanadu wrote: ↑Wed Jan 03, 2024 3:45 pm Fund Name: Sacred River Alph-a
Long
PTLO (Portillo's)
ACHR (Archer Aviation)
CDXS (Codexis)
Short
NVDA (Nvidia Corp)
COIN (Coinbase Inc)
BYND (Beyond Meat)
Thanks for running the contest Tanelorn!
DX
- Mon Jan 08, 2024 8:39 pm
- Forum: Personal Investments
- Topic: Everyone see NVidia this morning?...good for IRA account?
- Replies: 48
- Views: 9562
Re: Everyone see NVidia this morning?...good for IRA account?
I bought 20 shares in my taxable account in early 2018 (pre-split). Sold in early 2019 for a significant loss.
Re-bought 15 shares in 2021 in my HSA, still holding and up around 160%. Have a couple other winners and a couple other losers in there; overall about 60% of the account is index funds.
Re-bought 15 shares in 2021 in my HSA, still holding and up around 160%. Have a couple other winners and a couple other losers in there; overall about 60% of the account is index funds.
- Mon Jan 08, 2024 3:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2023
- Replies: 435
- Views: 154190
Re: Fidelity free Turbotax 2023
While I appreciate the offer, if I were Fidelity I'd almost certainly throw my hands up at this point as say it's just not worth our aggravation to continue offering this. How many Fidelity person-hours have been spent on this (including reps attempting to answer questions about why or why not an individual client received the offer)?
- Thu Jan 04, 2024 7:08 pm
- Forum: Personal Consumer Issues
- Topic: Board Games for Two in 2024
- Replies: 52
- Views: 6365
- Thu Jan 04, 2024 9:30 am
- Forum: Personal Finance (Not Investing)
- Topic: Super awkward new employer situation
- Replies: 144
- Views: 26124
Re: Super awkward new employer situation
Agree; do what you think feels right from a personal perspective and considering colleagues but you owe these clowns nothing. I do like the suggestion that if you stick it out for a couple weeks, that you only work 4 days each week.
- Thu Jan 04, 2024 8:29 am
- Forum: Personal Investments
- Topic: Fixed Income options in taxable
- Replies: 4
- Views: 808
Re: Fixed Income options in taxable
If they are in MA, like your profile states, then consider a mix of VMATX - Massachusetts tax exempt fund and a short(er) term municipal bond fund that is nationally focused like VMLUX - Limited term tax exempt fund. This should reduce the tax burden to some degree while still providing reasonably reliable income. I'm presuming MA is taxing the income mentioned in your OP at 4% or 5%... https://investor.vanguard.com/investment-products/mutual-funds/profile/vmatx https://investor.vanguard.com/investment-products/mutual-funds/profile/vmlux Regards, Thank you, while not in MA, their state tax rate is ~5% and their broker does offer a state-specific tax exempt fund which would provide some relief. As one who values simplicity, I may simply sug...
- Wed Jan 03, 2024 3:45 pm
- Forum: Investing - Theory, News & General
- Topic: 2024 Hedge Fund contest
- Replies: 156
- Views: 26843
Re: 2024 Hedge Fund contest
Fund Name: Sacred River Alph-a
Long
PTLO (Portillo's)
ACHR (Archer Aviation)
CDXS (Codexis)
Short
NVDA (Nvidia Corp)
COIN (Coinbase Inc)
BYND (Beyond Meat)
Long
PTLO (Portillo's)
ACHR (Archer Aviation)
CDXS (Codexis)
Short
NVDA (Nvidia Corp)
COIN (Coinbase Inc)
BYND (Beyond Meat)
- Wed Jan 03, 2024 1:52 pm
- Forum: Personal Investments
- Topic: Fixed Income options in taxable
- Replies: 4
- Views: 808
Fixed Income options in taxable
I'm helping re-configure a family member's portfolio, and their stated goal is to reduce equity exposure from 85% to about 50%-60%. The bulk of their assets are in a taxable account, which will require selling stock and buying fixed income in taxable. They will be realizing about $65k of LTCG to do so. They are in the 22% bracket filing Single ($65K pension, RMDs, interest; plus $35k dividends). I'm trying to keep things simple, so my initial thoughts for fixed income in taxable are some combination of: CDs / Savings Money Market Funds Bond Funds I just don't know what the best bond funds to suggest might be : Total Bond, Intermediate Treasury, Short-term aggregate, Intermediate TIPS, some sore of muni bond fund, other?? I appreciate that i...
- Tue Jan 02, 2024 1:37 pm
- Forum: Investing - Theory, News & General
- Topic: 2024 BOGLEHEAD CONTEST REGISTRATION
- Replies: 579
- Views: 38025
- Sun Dec 31, 2023 12:20 am
- Forum: Personal Finance (Not Investing)
- Topic: Share your net worth progression
- Replies: 4273
- Views: 1072545
Re: Share your net worth progression
This would just be investable assets, since I didn't really track housing value and was also a renter and owner over the years. Never tracked before 2015.
2015: 586k (Married in 2014, this is combined)
2016: 651k
2017: 815k (First kid)
2018: 880k
2019: 1,239k (2nd kid, sold condo, started renting)
2020: 1,555k
2021: 1,795k (bought house)
2022: 1,683k
2023: 2,155k
2015: 586k (Married in 2014, this is combined)
2016: 651k
2017: 815k (First kid)
2018: 880k
2019: 1,239k (2nd kid, sold condo, started renting)
2020: 1,555k
2021: 1,795k (bought house)
2022: 1,683k
2023: 2,155k
- Tue Dec 26, 2023 10:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: how much do you think you need to retire?
- Replies: 279
- Views: 56558
Re: how much do you think you need to retire?
My goal for retirement is the earliest of:
i) 62 years old
ii) 50x expenses
iii) $6M of liquid assets (net of mortgage loan) in today's dollars, provided that this it's at least 25x of expenses.
i) 62 years old
ii) 50x expenses
iii) $6M of liquid assets (net of mortgage loan) in today's dollars, provided that this it's at least 25x of expenses.
- Wed Dec 20, 2023 2:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Surviving Spouse: Cost Basis Step-Up?
- Replies: 18
- Views: 1868
Re: Surviving Spouse: Cost Basis Step-Up?
For a non-community property state: If H owns the account and leaves it TOD to W, then W gets a 100% adjustment in basis at H’s death. If H owns the account and leave it TOD to W, S and D, then each gets a 100% adjustment in basis at H’s death. If H & W own the account jointly with right of survivorship, then W gets a 50% adjustment in basis at H’s death. I'm reviving this old thread because what is being described here matches my own understanding, but the brokerage is insisting that they correctly stepped up the cost basis 100%, upon the passing of one of the owners. This is for a joint tenancy with right of survivorship taxable brokerage account in a non community property state. Am I wrong, or is the brokerage wrong? This was from ...
- Wed Dec 20, 2023 1:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: Surviving Spouse: Cost Basis Step-Up?
- Replies: 18
- Views: 1868
Re: Surviving Spouse: Cost Basis Step-Up?
For a non-community property state: If H owns the account and leaves it TOD to W, then W gets a 100% adjustment in basis at H’s death. If H owns the account and leave it TOD to W, S and D, then each gets a 100% adjustment in basis at H’s death. If H & W own the account jointly with right of survivorship, then W gets a 50% adjustment in basis at H’s death. I'm reviving this old thread because what is being described here matches my own understanding, but the brokerage is insisting that they correctly stepped up the cost basis 100%, upon the passing of one of the owners. This is for a joint tenancy with right of survivorship taxable brokerage account in a non community property state. Am I wrong, or is the brokerage wrong? This was from ...
- Sun Dec 17, 2023 10:05 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
With I Bonds, I'll never have to pay tax on earnings if I use it for my kids education expenses. I anticipate that I'll be under the income limit.
- Sat Dec 16, 2023 10:28 am
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
I think your interpretation is wrong, but I understand that your own experience with this would lead to your conclusion.
But I will respectfully disengage from any more discussion on this particular subject, acknowledging that I could be the one with the wrong interpretation.
Happy Holidays,
DX
- Sat Dec 16, 2023 12:07 am
- Forum: Personal Finance (Not Investing)
- Topic: Late Bloomers Club: Share Your Net Worth!
- Replies: 107
- Views: 21194
Re: Late Bloomers Club: Share Your Net Worth!
There are no late bloomers. Only bloomers.
- Fri Dec 15, 2023 11:47 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
You may be right, but everything I've seen leads me to believe the following: 1. A donor can gift an unlimited amount of I bonds to a recipient during a given year; One may purchase an unlimited amount of I-Bonds for purposes of gifting in the future, but cannot actually gift / deliver an unlimited amount of I-Bonds in any given year. 2, A recipient can receive unlimited amounts of I bonds gifted from a donor during a given year; I don't believe this is correct. My (limited) understanding is that the principal amount of any I-bond purchase that is subsequently acquired by /delivered to a recipient in any given year counts against the $10,000 acquisition limit for that year. 3. The limitation of acquiring $ 10,000 of I bonds during the curre...
- Fri Dec 15, 2023 8:51 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
Logically, what you are saying here sounds right. It really wouldn't make sense to impose a $10k limit on purchases for self-owned I-Bonds, yet allow for unlimited purchases (gift deliveries) on behalf of a different individual.toddthebod wrote: ↑Fri Dec 15, 2023 7:10 pm By the way, my two counterpoints to you are, first, that this creates a loophole so obvious as to be "absurd," as you called it. Want to buy more I bonds? Just buy them for your spouse! Second, I can't think of any other reason why the gift box even exists if not for this limit. Why wouldn't all gifts just be immediately delivered?
- Fri Dec 15, 2023 1:02 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
The Code of Federal Regulations is more clear: 31 CFR § 363.52 What is the principal amount of book-entry Series EE and Series I savings bonds that I may acquire in one year? (a) The principal amount of book-entry savings bonds that you may acquire in any calendar year is limited to $10,000 for Series EE savings bonds and $10,000 for Series I savings bonds. (b) Bonds purchased or transferred as gifts will be included in the computation of this limit for the account of the recipient for the year in which the bonds are delivered to the recipient. (c) Bonds purchased as gifts or in a fiduciary capacity are not included in the computation for the purchaser. Bonds received due to the death of the registered owner are not included in the computa...
- Fri Dec 15, 2023 11:17 am
- Forum: US Chapters
- Topic: Post your Financial Milestone Announcements Here
- Replies: 3606
- Views: 562472
Re: Post your Financial Milestone Announcements Here
That's pretty incredible, nicely donestoptothink wrote: ↑Fri Dec 15, 2023 11:01 am As of our paychecks this morning, we crossed past $200k of direct savings (pair of 401ks, family HSA, taxable brokerage, VMFXX for house fund) for the year. First time we've ever done that and we still have a pair of paychecks on the 31st and need to cash out wife's RSUs that just vested. This is on gross HHI ~$290k-$300k.
Your living expenses must be pretty low.
- Thu Dec 14, 2023 10:59 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1204380
Re: Maximum number of I Bonds you can deliver from gift box?
So you are in agreement then that Cary's proposal to deliver $100k of I-bonds in a single year to one individual is impractical? I'm confused about your line of inquiry.nps wrote: ↑Thu Dec 14, 2023 7:31 pmCorrectTom_T wrote: ↑Thu Dec 14, 2023 7:13 pmSure, you can keep buying gifts for the gift box, but you cannot deliver $100K worth in year 11 to the spouse.