Search found 77 matches

by oldfatguy
Thu Apr 19, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Got hit with a $2800 Medical bill. Can I negotiate?
Replies: 187
Views: 12284

Re: Got hit with a $2800 Medical bill. Can I negotiate?

I'm taking about the traditional copay insurance (you pay $30 to go to the doctor, $50 to go to emergency room, $70 to go to the specialist) vs. a HDHP where you pay the first $X up to your deductible, then co insurance up to your OOP max. My insurance has all of those elements - copay, deductible,...
by oldfatguy
Thu Apr 19, 2018 9:18 am
Forum: Personal Consumer Issues
Topic: Another discussion about private vs public schools?
Replies: 79
Views: 5407

Re: Another discussion about private vs public schools?

We're both PhDs. Education is very important to us and we plan on lots of enrichment when the little Nugget is home with us. Most school rankings data is bunk, and correlates very closely with household income levels. You are well-educated professionals, and your child will likely do fine in any ha...
by oldfatguy
Tue Apr 17, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Exposure not filing Gift tax return 709
Replies: 12
Views: 1162

Re: Exposure not filing Gift tax return 709

sj1961 wrote:
Mon Apr 16, 2018 9:35 pm

I am absolutely not trying to avoid tax. We will never ever reach a gifting level of $5m-
The threshold could be lowered substantially or eliminated in your lifetime. File the form.
by oldfatguy
Fri Apr 13, 2018 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Funding Roth IRA for Dependent Child In Texas
Replies: 5
Views: 426

Re: Funding Roth IRA for Dependent Child In Texas

4. Is there a Texas CPA or someone knowledgeable on the forum who can tell me if the following forms are all I need to fill out and file to report and pay his "self employment" tax and any income tax owed. You don't need to do any of it, your son does. And yes, all he needs to do is file 1040, Sche...
by oldfatguy
Fri Apr 13, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: Dispute Over a Fence
Replies: 12
Views: 2132

Re: Dispute Over a Fence

IANAL, but I'd say it depends on the exact nature of the agreement between the town and Business A, and the terms of the sale to Business B.
by oldfatguy
Fri Apr 13, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Financing Grad School + Debt Question
Replies: 19
Views: 1016

Re: Financing Grad School + Debt Question

kwarden13 wrote:
Fri Apr 13, 2018 9:00 am

Background: We do not share our income and each pay 50% towards household.
There's your answer. If you have separate finances, it's really not up to you how she decides to pay for stuff.
by oldfatguy
Thu Apr 12, 2018 9:14 am
Forum: Personal Consumer Issues
Topic: Child expenses - what to expect as your kids go from daycare to school
Replies: 20
Views: 3387

Re: Child expenses - what to expect as your kids go from daycare to school

In my experience, yes, your expenses will go down if your children enter public school. There will still be the cost of before-school and/or after-school care, summer care, and extracurricular activities. But for most families, those costs are not as much as full-time daycare.
by oldfatguy
Wed Apr 11, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Am I being unreasonable? [Send daughter to private kindergarten]
Replies: 70
Views: 4676

Re: Am I being unreasonable?

I agree with you, too, but I'm not sure that helps you reach an agreement with your spouse.
by oldfatguy
Wed Apr 11, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 151
Views: 12162

Re: Cash flow problems - best way to handle?

LukeHeinz57 wrote:
Wed Apr 11, 2018 12:50 pm
... I am appalled at some of the responses here :shock:
Too many either didn't read through most of the thread, or simply have no idea what it means to be a working parent with young kids.
by oldfatguy
Tue Apr 10, 2018 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Child in college w/$500 income on W-2 - File taxes?
Replies: 27
Views: 3017

Re: Child in college w/$500 income on W-2 - File taxes?

CT-Scott wrote:
Tue Apr 10, 2018 1:18 pm

So if all she stands to get back is $2, do I need to fill out the taxes at all for her?
No, she should be doing it herself, IMO.
by oldfatguy
Mon Apr 09, 2018 7:12 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 9719

Re: Why not annuitize most of portfolio?

Most of my retirement assets will be annuitized, though not by choice.
by oldfatguy
Mon Apr 09, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 151
Views: 12162

Re: Cash flow problems - best way to handle?

1) get a 401K loan (there is a $175 setup fee, but after that the interest rate is fairly low, like 3 percent) 2) get a zero interest credit card, and hope I can pay it back by the time zero interest time period expires. 3) open a HELOC (I have about 100K in equity. At my credit union, it looks lik...
by oldfatguy
Fri Apr 06, 2018 9:18 am
Forum: Personal Consumer Issues
Topic: Builder wants $800 to vent a gas cooktop
Replies: 53
Views: 5033

Re: Builder wants $800 to vent a gas cooktop

I've never lived in any home that had a stove hood vented to the outside, and have never been aware of any problems from it. Maybe I just don't know what I am missing. If you don't do much high heat cooking and only turn the burners up to boil water then an outside vented hood wont do much. I do a ...
by oldfatguy
Thu Apr 05, 2018 2:25 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

indexonlyplease wrote:
Thu Apr 05, 2018 2:19 pm
Facebook is garbage social media. Never joined and glad.
How did you determine it was garbage without ever using it?
by oldfatguy
Thu Apr 05, 2018 11:43 am
Forum: Personal Consumer Issues
Topic: Builder wants $800 to vent a gas cooktop
Replies: 53
Views: 5033

Re: Builder wants $800 to vent a gas cooktop

I've never lived in any home that had a stove hood vented to the outside, and have never been aware of any problems from it. Maybe I just don't know what I am missing. If you don't do much high heat cooking and only turn the burners up to boil water then an outside vented hood wont do much. I do a ...
by oldfatguy
Thu Apr 05, 2018 8:34 am
Forum: Personal Consumer Issues
Topic: Builder wants $800 to vent a gas cooktop
Replies: 53
Views: 5033

Re: Builder wants $800 to vent a gas cooktop

I've never lived in any home that had a stove hood vented to the outside, and have never been aware of any problems from it. Maybe I just don't know what I am missing.
by oldfatguy
Wed Apr 04, 2018 10:20 am
Forum: Personal Consumer Issues
Topic: College freshman shopping—what don’t we need?
Replies: 45
Views: 3271

Re: College freshman shopping—what don’t we need?

I have an incoming freshman at university and the shopping lists seem like overkill. What is indispensable and what is useless? Sheets, pillow, blanket, laptop, cell phone, 1/2 of his/her wardrobe, dorm fridge, 32" flat screen TV (in my day it was a 19" tube TV), a rug is useful, futon, collapsible...
by oldfatguy
Mon Apr 02, 2018 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: How did you file your income taxes?
Replies: 77
Views: 6251

Re: How did you file your income taxes?

I used freefilefillableforms.com
by oldfatguy
Sat Mar 31, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: What age is the best to give a child control of an inheritance?
Replies: 192
Views: 14393

Re: What age is the best to give a child control of an inheritance?

In my will, my daughter would get everything at age 18 if we are both gone before then. But then again, there won't be that much to get.
by oldfatguy
Fri Mar 30, 2018 9:38 am
Forum: Investing - Theory, News & General
Topic: What is the endgame for Millennials?
Replies: 128
Views: 10728

Re: What is the endgame for Millennials?

I disagree that Millennials are just like every other generation. They, and the generations that follow them, have been absolutely inundated with the predominant culture of YOLO/keep up with the Jones/live in the now/ that is pervasive in the US (and most of the West). Social media is everywhere, a...
by oldfatguy
Thu Mar 29, 2018 10:49 am
Forum: Personal Consumer Issues
Topic: Mystery: Gas bill says therms increased 33% year over year but temperature stayed the same. Why?
Replies: 26
Views: 2129

Re: Mystery: Gas bill says therms increased 33% year over year but temperature stayed the same. Why?

Chan_va wrote:
Thu Mar 29, 2018 10:42 am
It could be a case where averages are deceiving, and outliers matter. Have you had a lot more really cold days and really warm days this year? The energy efficiency as the temperature drops is not linear.
This is the most likely explanation, IMO.
by oldfatguy
Thu Mar 29, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Cosign college loan for sibling?
Replies: 87
Views: 5002

Re: Cosign college loan for sibling?

ofrivia wrote:
Wed Mar 28, 2018 6:52 pm

My father cosigned the loans for me and indeed still has some he is paying off. So that is what makes me feel partially responsible.
Are you sure your father cosigned your loans? Or did he take out parent loans?
by oldfatguy
Thu Mar 29, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: taxes: e-file vs. paper
Replies: 51
Views: 4479

Re: taxes: e-file vs. paper

Depending on your income, you may have to pay to e-file. Some people pay for tax-prep software, which can include free e-file. Or you can download fillable pdf's or obtain paper forms and mail your paper return for the cost of postage. For federal returns, anyone can file electronically using freef...
by oldfatguy
Wed Mar 28, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 127
Views: 8763

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Which is exactly what Kitces is proposing - gift shares to student, student sells at lower tax rate, then uses the money to pay for school. It's exactly the same steps as the grandparents case, so if the step transaction doctrine applies, it would apply equally to both cases since the end result is...
by oldfatguy
Wed Mar 28, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 127
Views: 8763

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Which is exactly what Kitces is proposing - gift shares to student, student sells at lower tax rate, then uses the money to pay for school. It's exactly the same steps as the grandparents case, so if the step transaction doctrine applies, it would apply equally to both cases since the end result is...
by oldfatguy
Wed Mar 28, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 127
Views: 8763

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Kitces wrote an entire article about gifting shares to pay for college and avoid taxes, and no one seemed to bat an eye. https://www.kitces.com/blog/liquidate-appreciated-securities-tax-free-for-college-funding-by-avoiding-the-kiddie-tax/ The only difference was that the gift was to the child, not ...
by oldfatguy
Wed Mar 28, 2018 10:22 am
Forum: Personal Consumer Issues
Topic: Checklist for Parents of Incoming Freshmen/To-Be Adult
Replies: 67
Views: 5254

Re: Checklist for Parents of Incoming Freshmen/To-Be Adult

The absolute best thing we did was to attend freshman orientation with our student. I had no idea parents were even invited, much less encouraged, to do such things. They certainly weren't in my day. The orientation was very eye-opening and informative, but the point they hammered repeatedly was, "...
by oldfatguy
Tue Mar 27, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: Checklist for Parents of Incoming Freshmen/To-Be Adult
Replies: 67
Views: 5254

Re: Checklist for Parents of Incoming Freshmen/To-Be Adult

BHs - Any suggestions about dos and donts on college shopping? Or leave it up to her completely ? The school she is going to attend should have a list of items to bring, as well as things that are prohibited or not recommended. Assuming she will have a roommate, she will also want to coordinate wit...
by oldfatguy
Fri Mar 23, 2018 3:45 pm
Forum: Personal Consumer Issues
Topic: Costco Kirkland Brand Liquor
Replies: 63
Views: 9618

Re: Costco Kirkland Brand Liquor

...Kirkland bourbon and rum is produced by Jim Beam... Jim Beam deals with rum now? Really? According to the internets: The Kirkland St. Croix Island spiced rum is made by Jim Beam Brands Company. The company is located at 526 Happy Hollow Road Clermont, KY. It also manufactures 'Costco's Kirkland ...
by oldfatguy
Fri Mar 23, 2018 2:34 pm
Forum: Investing - Help with Personal Investments
Topic: CPA not helpful with Form 8606
Replies: 38
Views: 2310

Re: CPA not helpful with Form 8606

Darth Xanadu wrote:
Fri Mar 23, 2018 2:32 pm
The problem is I've never completed a Form 8606 previously. Meaning, I've never included one with my tax returns ever before.
You need to correct that in order to fill out the form correctly for this year.
by oldfatguy
Fri Mar 23, 2018 2:29 pm
Forum: Investing - Help with Personal Investments
Topic: CPA not helpful with Form 8606
Replies: 38
Views: 2310

Re: CPA not helpful with Form 8606

Thanks for the links, I looked at the Wiki and WCI posts but his numbers are different than mine. I apologize if my initial post was not clear. For Tax Year 2017, here is the relevant information: March 2017: Backdoor Roth executed for 2016 Tax Year March 2018: Backdoor Roth executed for 2017 Tax Y...
by oldfatguy
Fri Mar 23, 2018 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: CPA not helpful with Form 8606
Replies: 38
Views: 2310

Re: CPA not helpful with Form 8606

Line 3 asks, "In 2017, did you take a distribution from traditional, SEP, or SIMPLE IRAs, or make a Roth IRA conversion?" I believe your answer should be no, because you did not make a Roth conversion in 2017, therefore: "No ▶ Enter the amount from line 3 on line 14. Do not complete the rest of Par...
by oldfatguy
Fri Mar 23, 2018 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: CPA not helpful with Form 8606
Replies: 38
Views: 2310

Re: CPA not helpful with Form 8606

Line 3 asks, "In 2017, did you take a distribution from traditional, SEP, or SIMPLE IRAs, or make a Roth IRA conversion?" I believe your answer should be no, because you did not make a Roth conversion in 2017, therefore: "No ▶ Enter the amount from line 3 on line 14. Do not complete the rest of Part...
by oldfatguy
Fri Mar 23, 2018 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 12070

Re: Losing friends/family when wealthy

I avoid this problem by being poor and not having any friends.
by oldfatguy
Fri Mar 23, 2018 11:46 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

If we want to distinguish between platforms where everyone has a personal list of friends, or followers, or contacts, and you can construct directed graphs from this information and platforms where this is not the case, what term should we use? Since "social media" seems to be taken. Perhaps "socia...
by oldfatguy
Fri Mar 23, 2018 11:15 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

I hear this a lot, but I don't know if I should care if an app can read my texts or access my contact list. So what?.... Personally, I think privacy concerns about the "fluff stuff" in our lives by random nobodies like me are overblown. Didn't see anything "shocking" in that article, nor anything I...
by oldfatguy
Fri Mar 23, 2018 10:53 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

I am well aware of the differences among the many types of social media. Anyone who participates in a forum like this one, and thinks he is not using social media, is redefining the meaning of the term. Does your definition have any limits? Does it include post cards? People have been communicating...
by oldfatguy
Fri Mar 23, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Beneficiary Advice
Replies: 25
Views: 1499

Re: Beneficiary Advice

...If I do eventually (and hopefully) find another partner, they of course would become the beneficiary for some or all of these assets... I would be reluctant to name a partner as a beneficiary for anything unless it was a long-standing relationship, probably 20 years or more. Making a partner a b...
by oldfatguy
Fri Mar 23, 2018 8:10 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

There is nothing in my facebook account that isn't easily found with quick internet search. "Downloaded my facebook data as a ZIP file. Somehow it has my entire call history with my partner's mum, metadata about every text message I've ever received or sent. Spoiler: I don't use messenger for SMS ....
by oldfatguy
Fri Mar 23, 2018 7:50 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

Never used it because it occurred to me that there would be a lot of my personal information out there that might get misused. What kinds of personal information are you concerned about? There is nothing in my facebook account that isn't easily found with quick internet search. The shocking details...
by oldfatguy
Fri Mar 23, 2018 7:36 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

Forums like Bogleheads are more like the old bulletin boards or Usenet groups, which existed long before social media was invented. What is your definition of social media, and how does it compare with dictionary definitions? I've already given you an objective, easily testable structural differenc...
by oldfatguy
Thu Mar 22, 2018 8:17 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

telemark wrote:
Thu Mar 22, 2018 5:10 pm
Forums like Bogleheads are more like the old bulletin boards or Usenet groups, which existed long before social media was invented.
What is your definition of social media, and how does it compare with dictionary definitions?
by oldfatguy
Thu Mar 22, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Which state to file taxes in?
Replies: 14
Views: 1117

Re: Which state to file taxes in?

He is originally from CA, which is where his parents live. He now is attending Graduate school in Illinois. He made about 10k in CA on a W2 before between Jan-July while he was in CA. He hasn't had any income since he got to Illinois since he's been in school. Is he sure he doesn't have any income ...
by oldfatguy
Thu Mar 22, 2018 2:50 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

Yes, but it had nothing to do with privacy and the recently discovered lack thereof. I'm solidly with Parker and Palihapitiya in thinking that it is an unhealthy social validation feedback loop and serves no real positive function. I feel that way about social media in general and eschew its use. Y...
by oldfatguy
Thu Mar 22, 2018 1:24 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

Yes, but it had nothing to do with privacy and the recently discovered lack thereof. I'm solidly with Parker and Palihapitiya in thinking that it is an unhealthy social validation feedback loop and serves no real positive function. I feel that way about social media in general and eschew its use. Y...
by oldfatguy
Thu Mar 22, 2018 1:19 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

Yes, but it had nothing to do with privacy and the recently discovered lack thereof. I'm solidly with Parker and Palihapitiya in thinking that it is an unhealthy social validation feedback loop and serves no real positive function. I feel that way about social media in general and eschew its use. Y...
by oldfatguy
Thu Mar 22, 2018 12:14 pm
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 28606

Re: Anyone Deleting Facebook?

CULater wrote:
Thu Mar 22, 2018 12:09 pm
Never used it because it occurred to me that there would be a lot of my personal information out there that might get misused.
What kinds of personal information are you concerned about? There is nothing in my facebook account that isn't easily found with quick internet search.
by oldfatguy
Thu Mar 22, 2018 7:40 am
Forum: Investing - Help with Personal Investments
Topic: Helping daughter set up an IRA
Replies: 28
Views: 1742

Re: Helping daughter set up an IRA

If your Son or Daughter just starting out, they can invest in an IRA an amount what they earned . Is this correct? No, it isn’t. There is a maximum allowable contribution each year. https://www.fool.com/retirement/2017/10/22/heres-the-2018-ira-contribution-limit.aspx The traditional IRA tax deducti...
by oldfatguy
Wed Mar 21, 2018 9:51 am
Forum: Investing - Help with Personal Investments
Topic: Helping daughter set up an IRA
Replies: 28
Views: 1742

Re: Helping daughter set up an IRA

I understand the point about a Roth being more beneficial in the future, but she needs help reducing her taxes right now and in these lean years as she establishes herself. I remember those days when I was young and what a difference a few hundred dollars could make. Give her 5K for a RothIRA and 5...
by oldfatguy
Wed Mar 21, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Cost of College vs Starting Income
Replies: 94
Views: 5192

Re: Cost of College vs Starting Income

... If I had to choice of sending my kid to a institution where 90% graduate, or one where 50% graduate, I'd be willing to spend more for the institution where there is a higher rate. In my experience, schools with high graduation rates tend to identify and go out of their way to help students that...