Search found 260 matches

by LookinAround
Fri Nov 13, 2020 5:08 am
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

oldfort wrote: Thu Nov 12, 2020 8:21 pm <snip> In the big picture, $125k isn't a large sum for many people.
If 125K isn't a large sum for you, let me know. I'll send you my venmo :happy :moneybag
by LookinAround
Thu Nov 12, 2020 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

Why is 18 or 21 too young? By the time they reach college age, $125k won't cover 2 years at a mid-tier private. Let them graduate with fewer student loans instead of getting the money when they're 35. Because my friends' daughter is 20 years old and currently in alcohol rehab. At 16 she was a model...
by LookinAround
Thu Nov 12, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

No way, it's worth dealing with a trust for $125k. This barely covers two years of college at a private or OOS. Yes. That is true. But right now their ages range 5 -9 so there's 10+ years time even 125K can be put to work and grow. The attorney tells me I can instruct all trust income be distribute...
by LookinAround
Thu Nov 12, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

Problem with that, as I understand it, is the child gets the money at 18 or 21 (depending on the state). That's too young Why is 18 or 21 too young? By the time they reach college age, $125k won't cover 2 years at a mid-tier private. Let them graduate with fewer student loans instead of getting the...
by LookinAround
Thu Nov 12, 2020 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

Consider leaving each child’s share to the parent as custodian UGMA. You don’t want to create trusts of this size. Gill A follow up question - at roughly what asset size could it make sense to have a trust for a child? $500k? $1MM? Or more? fyi... In checking a couple places, I thought Vanguard's T...
by LookinAround
Mon Nov 09, 2020 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Re: Leaving money to kids in a trust (or not)

Gill wrote: Mon Nov 09, 2020 7:00 pm Consider leaving each child’s share to the parent as custodian UGMA. You don’t want to create trusts of this size.
Gill
Problem with that, as I understand it, is the child gets the money at 18 or 21 (depending on the state). That's too young
by LookinAround
Mon Nov 09, 2020 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money to kids in a trust (or not)
Replies: 35
Views: 3824

Leaving money to kids in a trust (or not)

I have a total four great-nieces/nephews with ages ranging from 5 to 9. (Two sets of parents each with two kids). I’m updating my living trust and considering leaving each of four the kids’ money in their own trust. It'll likely be 125K to 150K each. Is it worth it? I’d name the parent as trustee (d...
by LookinAround
Sat Oct 24, 2020 9:29 pm
Forum: Personal Consumer Issues
Topic: Wireless keyboard and mouse
Replies: 22
Views: 1310

Re: Wireless keyboard and mouse

Where's the transceiver plugged in? Do you a port available (like in the front of computer) that's but close to and line-of-sight to mouse/keyboard? I have my Logitech m&k for years and my mouse started freezing up a few seconds on the screen. Since i moved the xceiver to front port of my deskto...
by LookinAround
Thu Aug 27, 2020 3:36 pm
Forum: Personal Consumer Issues
Topic: Question about Password Managers
Replies: 74
Views: 3939

Re: Question about Password Managers

The features that are most important to me are ... <snip> the ability to use two factor authentication using physical U2F security keys and not being limited to only using a specific model of security key made by Yubikey (yes I'm looking at you Lastpass), Don't know if it's already mentioned or how...
by LookinAround
Sat Aug 22, 2020 9:14 pm
Forum: Personal Investments
Topic: Converting to Roth IRA
Replies: 8
Views: 757

Re: Converting to Roth IRA

You didn't state your age but assuming you won;t touch your Roth for at least 8 to 10 years: Convert the Total Stock Fund. Best to keep equities in your Roth and reap the benefits of long term returns. Remember it's tax free so you want Total Stock Market returns long term not Bond returns which his...
by LookinAround
Sat Aug 22, 2020 9:08 pm
Forum: Personal Investments
Topic: Tax Returns For Next Year
Replies: 25
Views: 2328

Re: Tax Returns For Next Year

There's so much detail, too many things to learn and so much room for errors if you do it yourself. I suggest you get a 2019 copy of Turbotax. Use Turbotax to do your 2019 taxes (and learn how to download your info from brokerage firms, banks, etc) Now compare your result with the accountant. If the...
by LookinAround
Sat Aug 22, 2020 5:03 pm
Forum: Personal Investments
Topic: Deciding how much to take in LT Cap Gains vs Roth Conversions…
Replies: 5
Views: 611

Deciding how much to take in LT Cap Gains vs Roth Conversions…

I’m 68 and single. I own my home. No mortgage. No debt. I need decide each year how to prioritize how much to take in LT Cap Gain each year vs how much money I want to convert from my traditional IRA to a Roth (as together they bump up my AGI and taxes) I receive a net 1,500/month from Social Securi...
by LookinAround
Sun Aug 09, 2020 11:03 am
Forum: Personal Investments
Topic: Viability of Tax Exempt funds even in a lower tax bracket
Replies: 13
Views: 986

Re: Viability of Tax Exempt funds even in a lower tax bracket

We don't have a 15% tax bracket right now so you might be working under the wrong assumption anyway. If your effective rate is 15%, your tax bracket is at least 22% and could easily be higher. Ooops. You're right. Currently 12% on ordinary income. Though I still expect 22% (maybe 24%) on ordinary i...
by LookinAround
Sun Aug 09, 2020 5:43 am
Forum: Personal Investments
Topic: Viability of Tax Exempt funds even in a lower tax bracket
Replies: 13
Views: 986

Viability of Tax Exempt funds even in a lower tax bracket

Hi I'm currently in a 12% tax bracket but expect it to rise to 22% or 24% by the time I do some tIRA to Roth IRA conversions at end of year. I've read people say it's not worth holding tax exempt bond funds in a 15% bracket. But curious if that's just a generalization. I own Vanguard Intermediate-Te...
by LookinAround
Fri Jul 31, 2020 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: IRAs, Trusts and leaving $$ to young children as Beneficiaries
Replies: 11
Views: 575

Re: IRAs, Trusts and leaving $$ to young children as Beneficiaries

I assume that if the children are only receiving small amounts that they're your grandnieces and grandnephews rather than your children. Is that correct? Yes. I have no children. All of the children are grandnieces and grandnephews. There are four: ages 4 and 4 (twins), 6 and 8 so doubtful I'm aliv...
by LookinAround
Fri Jul 31, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: IRAs, Trusts and leaving $$ to young children as Beneficiaries
Replies: 11
Views: 575

IRAs, Trusts and leaving $$ to young children as Beneficiaries

I’m 68, single, retired, live in Illinois and have no debt. I created a revocable trust in 2011 with a local attorney. Beneficiaries are siblings, a couple nieces and 4 young children (today ages range 4 to 8). I just met with the attorney again July, 2020 to discuss changes including the best way t...
by LookinAround
Sun Jul 19, 2020 5:57 pm
Forum: Personal Investments
Topic: Hacking Financial Sites
Replies: 41
Views: 3708

Re: Hacking Financial Sites

I use fidelity and have 2 factor authentication in place. It's still possible to beat 2FA if someone were to clone my cell number but the likelihood if far lower. just fyi.. one way to protect against cell phone cloning (i use) is get a google voice number. Have your financial institutions send 2FA...
by LookinAround
Fri Jul 10, 2020 10:08 am
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1562

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

p.s. You think it's something regional? I just noticed your username and I'm in Chicago too! :sharebeer Regional? I'd like to think Chicagoans are pretty astute with finances and numbers, but I suppose that somewhat ignorant would likely not know any better, so it is possible. Nah, I was being face...
by LookinAround
Fri Jul 10, 2020 8:45 am
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1562

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

<snip>So, when you calculate the top of your marginal tax bracket for purposes of converting your tIRA, make sure to delete your CG and QD from that calculation. OMG. Thanks for the heads up. It made me realize I've made that same dumb mistake too! :oops: p.s. You think it's something regional? I j...
by LookinAround
Wed Jul 08, 2020 8:27 am
Forum: Personal Investments
Topic: What happens to fractional shares after a stock split?
Replies: 6
Views: 446

Re: What happens to fractional shares after a stock split?

I called Schwab and they researched what happened. When the stock split they issued cash for the fractional shares.

Thanks for everyone's input! :happy
by LookinAround
Wed Jul 08, 2020 7:58 am
Forum: Personal Investments
Topic: What happens to fractional shares after a stock split?
Replies: 6
Views: 446

Re: What happens to fractional shares after a stock split

Typically (or always?) they don't issue fractional shares. Probably you would receive 1204 extra shares and "cash in lieu" in exchange for the remaining 0.323 shares. I believe that this is not at the discretion of the broker. (On edit: Sorry, I misread the stock-split ratio earlier.) No ...
by LookinAround
Wed Jul 08, 2020 6:43 am
Forum: Personal Investments
Topic: What happens to fractional shares after a stock split?
Replies: 6
Views: 446

What happens to fractional shares after a stock split?

I'm going back 20 years to recreate some stock lots. I had an account with Schwab at the time but I don't have the records (shame on me) going back that far. I only have the information I kept in Quicken. So I have a question On July 28, 2000 my Schwab account held 1,204.323 shares of Home Depot whe...
by LookinAround
Wed Jun 17, 2020 5:49 pm
Forum: Personal Investments
Topic: selling ETFs, buying Mutual Funds
Replies: 27
Views: 1684

Re: selling ETFs, buying Mutual Funds

If you sell ETF and buy MF on the same day you need be aware of when the funds settle. ETF settles in 2 business days. MF settles in 1 business day. If you sell ETF and buy MF's the same day: - The funds to buy MF are required next business day - But proceeds from selling ETF aren't available for 2...
by LookinAround
Wed Jun 17, 2020 4:30 pm
Forum: Personal Investments
Topic: selling ETFs, buying Mutual Funds
Replies: 27
Views: 1684

Re: selling ETFs, buying Mutual Funds

You might also find this boglehead wiki helpful ETFs vs Mutual Fund Mutual funds also have cap gain distributions. ETF not. If in a taxable account, those cap gains add to your income and taxes. If you want to better predict and control your income for tax planning, ETFs have an advantage as they do...
by LookinAround
Wed Jun 17, 2020 3:50 pm
Forum: Personal Investments
Topic: selling ETFs, buying Mutual Funds
Replies: 27
Views: 1684

Re: selling ETFs, buying Mutual Funds

If you sell ETF and buy MF on the same day you need be aware of when the funds settle. ETF settles in 2 business days. MF settles in 1 business day. If you sell ETF and buy MF's the same day: - The funds to buy MF are required next business day - But proceeds from selling ETF aren't available for 2 ...
by LookinAround
Sun Jun 14, 2020 9:37 pm
Forum: Personal Investments
Topic: why are Vanguard/Schwab brokered CDs not competitive?
Replies: 19
Views: 5266

Re: why are Vanguard/Schwab brokered CDs not competitive?

I've been looking at parking some short-term (6-9mo) cash in CDs, and have noticed that brokered offerings at Schwab and Vanguard appear to be a full point or more lower than what one can find using bankrate.com, etc. Brokered CDs are competitive, with Treasury bonds of the same terms, which can al...
by LookinAround
Wed Jun 10, 2020 6:17 pm
Forum: Personal Investments
Topic: Bond Fund Allocation w/Fed projecting no rate increase through 2022
Replies: 14
Views: 1615

Bond Fund Allocation w/Fed projecting no rate increase through 2022

There's been much talk and speculation in the forum about what bond fund(s) to hold as rates are so low. There have been questions of whether to stay in a Total Bond Fund fearing rate increases would cause bond prices to drop. Some talked of going heavier into short and ultra-short term funds to pro...
by LookinAround
Sun May 31, 2020 3:57 pm
Forum: Personal Investments
Topic: Chase You Invest - "Invest and Forget"
Replies: 9
Views: 1514

Re: Chase You Invest - "Invest and Forget"

Two things

One, Chase is charging a .35% management fee. Vanguarad is .30%

Two, I'd check the Expense Ration of their funds and compare to others. Including whether any 12b-1 fees
by LookinAround
Sun May 31, 2020 8:01 am
Forum: Investing - Theory, News & General
Topic: Single Favorite Mutual Fund
Replies: 102
Views: 11334

Re: Single Favorite Mutual Fund

AKREX - Akre focus fund. Chuck Akre is one of the extremely few managers that defies the Boglehead philosophies. yep, High fee, and he has well earned every penny he has ever charged while managing FBR Focus fund and then his own Akre Focus fund. +1 Past performance yada yada In spite of it's high ...
by LookinAround
Wed May 20, 2020 4:04 pm
Forum: Personal Investments
Topic: Individual stock for son's birthday
Replies: 54
Views: 4684

Re: Individual stock for son's birthday

Is he a gamer? If you want something fun, I'd say Nvidia NVDA. It's at an all time high but think it has more to go and excellent long term potential in gaming, artificial intelligence, super computing and autonomous vehicles (I own as well)
by LookinAround
Sun May 17, 2020 10:00 am
Forum: Personal Investments
Topic: tax types or avoiding them on dividends
Replies: 7
Views: 598

Re: tax types or avoiding them on dividends

re: Vanguard ETFs and Funds For planning, I think you can get a reasonable idea of what to expect (ordinary vs dividend) from most Vanguard ETFs / Funds by looking at last year's result. Vanguard publishes "estimated" numbers towards end of year. And the finals once they're out. Vanguard Q...
by LookinAround
Sat May 16, 2020 12:04 pm
Forum: Personal Consumer Issues
Topic: How do you protect your kids while their online?
Replies: 7
Views: 621

Re: How do you protect your kids while their online?

Thanks for info.

Kids are 6 and 8. Had a quick look and Web Filter looks like a corporate product and not for the home user. I also anticipate they might take the tablet to a friend's so think it's better with device account based protection vs at a network level
by LookinAround
Sat May 16, 2020 11:37 am
Forum: Personal Consumer Issues
Topic: How do you protect your kids while their online?
Replies: 7
Views: 621

How do you protect your kids while their online?

I'm resurrecting this topic as best I could find it was last asked in 2016. I'm trying to help my niece setup child controls on a Android Tablet (which only supports wifi) and a Windows 10 PC. There's so much out there I'm not sure what's best / where to begin. Priority wise, I think I want to first...
by LookinAround
Thu May 14, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Early redemption fee and wash sale warnings?
Replies: 10
Views: 306

Re: Early redemption fee and wash sale warnings?

rkhusky wrote: Thu May 14, 2020 11:58 am Which Vanguard funds have selling fees? I'm only familiar with the few that have buying fees.

And, the frequent trading period is 30 days, not 60.
I believe Vanguard's selling fee only applies to some of the non-Vanguard funds you can trade with Vanguard
by LookinAround
Thu May 14, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Early redemption fee and wash sale warnings?
Replies: 10
Views: 306

Re: Early redemption fee and wash sale warnings?

"Vanguard" does not charge redemption fees. If you hold a third party fund, say a "Class C" fund, the fund issuer charges a fee and Vanguard passes the cost through to you. just fyi... Vanguard can charge its own fee above and beyond whatever fee might exist by a fund issuer htt...
by LookinAround
Thu May 14, 2020 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Early redemption fee and wash sale warnings?
Replies: 10
Views: 306

Re: Early redemption fee and wash sale warnings?

BTW, Vanguard does warn you before you withdraw from an Admiral fund that you will not be able to repurchase for 60 days. They also warn you before you purchase a fund that has a purchase fee. re: Wash Sale. yeh, I can see how wash sale warnings could get to be a gnarly mess - even if they did disc...
by LookinAround
Thu May 14, 2020 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Early redemption fee and wash sale warnings?
Replies: 10
Views: 306

Early redemption fee and wash sale warnings?

It happens. There’s occasion when one inadvertently executes a trade that results in a wash sale or an early redemption fee. But for the case of a brokerage house that knows when to adjust your cap loss due a wash sale and / or charge an early redemption fee - why the heck you suppose they can't als...
by LookinAround
Wed May 13, 2020 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Wash Sale Question
Replies: 4
Views: 266

Re: Wash Sale Question

livesoft wrote: Tue May 12, 2020 2:20 pm
LookinAround wrote: Tue May 12, 2020 2:07 pm No. A wash sale only applies if you're selling at a loss. Your selling all for a profit you can buy back anytime
Some shares were sold at a loss, so those shares will apply to the wash sale calculus.
Oooops. Thanks for the correction :)
by LookinAround
Tue May 12, 2020 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Problem filing estimated taxes using EFTPS
Replies: 4
Views: 233

Problem filing estimated taxes using EFTPS

I always use EFTPS to pay my quarterly estimated and year end taxes. This year estimated Q1 and Q2 payments are both due on July 15. I tried creating two payments on July 15 but it gave me error. Forget the exact message it said something about I already had a payment scheduled for that period. I tr...
by LookinAround
Tue May 12, 2020 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Wash Sale Question
Replies: 4
Views: 266

Re: Wash Sale Question

No. A wash sale only applies if you're selling at a loss. Your selling all for a profit you can buy back anytime
by LookinAround
Sat May 09, 2020 5:19 pm
Forum: Personal Consumer Issues
Topic: How to block all websites on Android tablet except for those in a whitelist
Replies: 4
Views: 480

How to block all websites on Android tablet except for those in a whitelist

I'm trying to help my niece who's giving an Android Tablet to her 8-year old son (it runs a recent release of Android OS). I'm trying to help keep it child safe. Seems it only really needs two things An app locker restricts which apps they can run Website blocker 1. App lockers are plentiful 2. But ...
by LookinAround
Sat May 09, 2020 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Capital One 360 Savings Promo
Replies: 123
Views: 16429

Re: Capital One 360 Savings Promo

I read that it is a targeted offer. I have a Capital One 360 MM account but did not get the email. Does anyone know how to request this offer? It's not targeted for new customers. Available for everyone. However, yes there's a separate targeted offer for existing Capital One customers. I know that ...
by LookinAround
Mon May 04, 2020 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to lower tax on short term capital gains. Do conservation easements work?
Replies: 137
Views: 9563

Re: Trying to lower $800k tax on short term capital gains. Do conservation easements work?

In the worst case scenario of an audit, they told me they are insured and that it is an audit at the partnership level and not the individual level so does that make things better? They said they were insured by Lloyds of London. I am completely new to this however so thank you for your input. I'll...
by LookinAround
Mon May 04, 2020 2:07 pm
Forum: Personal Investments
Topic: IRMAA brackets?
Replies: 87
Views: 6281

Re: IRMAA brackets?

So if capital gains take us over the IRMAA cliff, that's roughly $1440 per year extra for medicare. $60 + $60 = $120 or 2 people @ $60 per month 12 X $120 = $1440 per year Yes. Assuming, of course, the overage places you within the 2nd IRMAA bracket a married couple would be (roughly) paying an ext...
by LookinAround
Mon May 04, 2020 12:02 pm
Forum: Personal Investments
Topic: IRMAA brackets?
Replies: 87
Views: 6281

Re: IRMAA brackets?

So if capital gains take us over the IRMAA cliff, that's roughly $1440 per year extra for medicare. $60 + $60 = $120 or 2 people @ $60 per month 12 X $120 = $1440 per year Yes. Assuming, of course, the overage places you within the 2nd IRMAA bracket a married couple would be (roughly) paying an ext...
by LookinAround
Mon May 04, 2020 11:48 am
Forum: Personal Investments
Topic: IRMAA brackets?
Replies: 87
Views: 6281

Re: IRMAA brackets?

I think the question is what is the magic number for one's AGI for 2020? It could be less than $87k and we won't know until after the year is over. That's the problem. Yea. I realized my mistake. I wasn't allowed to delete my post so I was in process of modifying original post while you were postin...
by LookinAround
Mon May 04, 2020 11:41 am
Forum: Personal Investments
Topic: IRMAA brackets?
Replies: 87
Views: 6281

Re: IRMAA brackets?

https://www.medicare.gov/your-medicare- ... rt-b-costs

And as already posted the first bracket for Y2020 is $87K

I think it's safe to assume the brackets won't decrease. (And remember its based on MAGI = AGI + tax exempt interest
by LookinAround
Sun May 03, 2020 7:15 am
Forum: Personal Investments
Topic: Question about Vanguard frequent trading policy
Replies: 8
Views: 1242

Re: Question about Vanguard frequent trading policy

On a different topic but just to be sure you know: As said, frequent trading policy applies to each individual account. But when selling and buying back into the same fund be careful of the wash sale rule. In this case the sell/buy 30d restriction applies across ALL accounts
by LookinAround
Sat May 02, 2020 7:41 am
Forum: Personal Investments
Topic: BMO Harris vs Comenity and others
Replies: 7
Views: 484

Re: BMO Harris vs Comenity and others

My understanding is that the higher interest rate for the Platinum MM is only offered in states where BMO does NOT have a branch. Wow. What a difference a zip code makes! Additional note for OP: I opened my checking account with Harris Bank in the late 70's. They were acquired by BMO in 1984. I sti...
by LookinAround
Sat May 02, 2020 6:18 am
Forum: Personal Investments
Topic: BMO Harris vs Comenity and others
Replies: 7
Views: 484

Re: BMO Harris vs Comenity and others

Now I'm curious. What zip code are you in? Best rate I see at BMO Harris for a Platinum MM in 60657 is .45% . Best rate CD I see at BMO is 1.4% for a long 55 month term. /* EDIT */ That's odd. I googled and a bankrate.com page shows high rate a 1.75% MM. But check the BMO Harris site itself. Maybe I...