Search found 727 matches

by NewMoneyMustBeSmart
Mon Feb 05, 2024 9:35 pm
Forum: Personal Consumer Issues
Topic: Sleeping struggles with two people one bed
Replies: 71
Views: 6829

Re: Sleeping struggles with two people one bed

KESP wrote: Mon Feb 05, 2024 7:31 am 2 separate adjustable beds pushed together. Separate sheets, blankets, controls. Works well for us.
This is a great solution and works well for me.
by NewMoneyMustBeSmart
Fri Apr 14, 2023 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Roth Megabackdoor Limits 2 Jobs
Replies: 2
Views: 410

Roth Megabackdoor Limits 2 Jobs

Friends, Summary : Does the post-tax Roth 401k contribution limit for after-tax retirement contributions in an IRA apply to the person or to the job? I changed from Job 1 to Job 2. Both Jobs have "Megabackdoor" Roth 401ks. In both jobs I'm doing an Roth in-plan conversion ("RIPC"). Leaving job 1, I had $6231 in the pre-tax 401k and $40,200 in the post-tax Roth 401k. At current job 2, I have $9800 in the pre-tax 401k and $3,215 in the post-tax Roth 401k. Therefore, I have a total of $16k in the combined pre-tax 401ks and $43k in the post-tax Roth 401k. I'm over 50 years of age. I understand the limit (for 1 job??) is $30k for pre-tax 401k and $43,500 for "other" contributions including post-tax Roth 401k. Questi...
by NewMoneyMustBeSmart
Sun Jan 22, 2023 8:41 pm
Forum: Personal Investments
Topic: Financial advisor for a synagogue
Replies: 56
Views: 4595

Re: Financial advisor for a synagogue

Given the conservative board, find a discount brokerage like Schwab or similar to manage it for a lower fee. Or hire a reputable Registered Investment Advisor ("RIA") to manage the money according your IPS with low fees.

Most of these 1% fees are for ~$1M. Over $1M-5M they drop down to 0.5% or less.
by NewMoneyMustBeSmart
Wed Jan 18, 2023 7:42 pm
Forum: Personal Consumer Issues
Topic: Regarding TSA pre-check
Replies: 78
Views: 7616

Re: Regarding TSA pre-check

I was under the impression that there is usually a separate line??? All I got was a large placard that identified me as a Precheck person. Once I got to the bins where you place your bags, clothes, etc., they allowed me to keep my shoes on and go through the regular metal detectors. It depends on the airport. I've only ever seen that at smaller airports. There seem to be 3 levels of service with TSA Precheck: 1. Dedicated line, x-ray for luggage and person 2. Shared line, but separate x-ray for luggage and person 3. Share line, shared x-rays for luggage and person (but non-TSA Pre have to through the rapiscan) Even in #3 not having to do shoes and take liquids/computers out is helpful. #2 and #3 can be at small airports, but also can be at...
by NewMoneyMustBeSmart
Mon Jan 16, 2023 5:34 pm
Forum: Personal Investments
Topic: Portfolio Visualizer
Replies: 4
Views: 746

Re: Portfolio Visualizer

As I understand it, expense fees are included in the returns, dividends or growth of ETFs and Mutual Funds.

Therefore, PV does include them implicitly.
by NewMoneyMustBeSmart
Sat Jan 14, 2023 11:30 am
Forum: Personal Consumer Issues
Topic: Holiday Visa Application asking for Occupation
Replies: 31
Views: 3193

Re: Holiday Visa Application asking for Occupation

I'm surprised that South Korea would ask for this information. I doubt that they have trouble with people with no means who won't go home. Last night on the Joe Rogan podcast ( https://open.spotify.com/episode/12Vs2dMqloii7bsxOJugex?si=hgBBATGEToKJjXnKfmm2Hw ) "Sonny," host a popular food show, talked about how he taught English in S. Korea and was paid under the table in cash. To remain quasi-legal with the Visa program, he took a ferry to a Japanese island each 90 days, renewing his 90 day tourist visa. Sonny discussed how the immigration officials would try to get him to admit he was teaching English, which he never did, even though he was teaching English. So, modulo "no means" South Korea does perceive a problem. I...
by NewMoneyMustBeSmart
Sat Jan 14, 2023 11:21 am
Forum: Personal Investments
Topic: Trust question
Replies: 18
Views: 1411

Re: Trust question

toddthebod wrote: Sat Jan 14, 2023 11:15 am Alice and Bob set up a revocable living trust to hold their $100MM in assets. Alice and Bob die. The trust pays some $40MM in estate taxes, leaving $60MM in principal for the three kids in the now irrevocable trust.

The $60MM is invested in a really good money market fund that earns $3MM in dividends the first year. The trust distributes $5MM to each child in that first year. Each child is responsible for taxes on $1MM of dividend income, but the other $4MM is not taxable.
Makes sense, as taxes were paid on the principal with estate taxes - thanks!
by NewMoneyMustBeSmart
Sat Jan 14, 2023 11:00 am
Forum: Personal Investments
Topic: Which Banks Offer Benefits Like CitiGold and BOA Preferred Rewards
Replies: 16
Views: 3450

Re: Which Banks Offer Benefits Like CitiGold and BOA Preferred Rewards

At first glance, you seem willing to put $1M in a bucket to earn $200 - or 0.02% (not 2%, 2/100ths of a %).

You may find https://www.doctorofcredit.com/ interesting. You can make more than 0.02% on your money by chasing bonuses from deposits.
by NewMoneyMustBeSmart
Sat Jan 14, 2023 10:45 am
Forum: Personal Investments
Topic: Trust question
Replies: 18
Views: 1411

Re: Trust question

toddthebod wrote: Sat Jan 14, 2023 9:33 am Just to add a point of clarification to the previous two comments: It's the trust income that is taxable to either the trust or beneficiaries. Distribution of trust principal is not taxable.
Can you clarify this?

Assume Alice and Bob have $100M in assets and die with three children Charlie, Deanna and Edward.

Zachary is the trustee for the Alice and Bob trust, which throws off $5M per year.

Certainly the $5M will either be taxed within the estate or passed to Charlie, Deanna and Edward and they would pay taxes.

But how is the principal not taxed? Surely if it stays within the Alice and Bob Trust, it won't be taxed.

But if the $33M principal if passed to each child, isn't that taxed?
by NewMoneyMustBeSmart
Sat Jan 14, 2023 10:39 am
Forum: Personal Consumer Issues
Topic: Why Do People Like Linux?
Replies: 254
Views: 18807

Re: Why Do People Like Linux?

tallguy3891 wrote: Tue Jan 10, 2023 7:00 pm Maybe I'm missing the obvious. Comments appreciated.
This is good to read to understand: http://www.team.net/mjb/hawg.html

If you're doing email and browsing Linux offers few advantages beyond open source and less attempts to exploit you monetarily.
by NewMoneyMustBeSmart
Fri Jan 13, 2023 7:52 pm
Forum: Personal Consumer Issues
Topic: Sub-$500 Home Improvement Projects That Increased Quality of Life
Replies: 135
Views: 23195

Re: Sub-$500 Home Improvement Projects That Increased Quality of Life

CoastLawyer2030 wrote: Fri Jan 13, 2023 9:04 am We all talk about new kitchens and new bathrooms. But just curious -- what are some of the lesser expensive things you've done in your house that have dramatically improved your quality of life?
I added two drinking glass cleaners on the kitchen sink.

It's great to be able to lower/raise temperature of a glass and clean it out quickly when reusing the glass.

https://www.amazon.com/gp/product/B089J6F8S9/
by NewMoneyMustBeSmart
Mon Jan 09, 2023 3:29 pm
Forum: Personal Consumer Issues
Topic: Bosch 500 vs 800 Dishwasher
Replies: 36
Views: 7890

Re: Bosch 500 vs 800 Dishwasher

inverter wrote: Mon Jan 09, 2023 12:38 pm I would definitely look at the entry level Miele. Those things are built like tanks.
We have 2 Miele dishwashers and love love love them.
by NewMoneyMustBeSmart
Mon Jan 09, 2023 3:25 pm
Forum: Personal Consumer Issues
Topic: Cost of Domestic First Class Travel?
Replies: 38
Views: 4265

Re: Cost of Domestic First Class Travel?

reddison wrote: Mon Jan 09, 2023 3:20 pm $1,200 is beyond what I consider reasonable. Our last couple of trips in coach involved kids kicking seats and playing up/down with the tray tables with no parental control and sitting next to someone who occupied their seat and a third of mine. It makes for a very unpleasant experience. I think airfares being up is the answer.
We recently took a family trip to Europe. My friends were chiding me for not buying business class tickets.

The money saved is >$1k per person. I'd far prefer to spend that money on nice meals and tours than a few hours of slight comfort enhancement.
by NewMoneyMustBeSmart
Thu Jan 05, 2023 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Contract / Consulting Question
Replies: 23
Views: 1670

Re: Contract / Consulting Question

Hello. We are planning on retiring in about 5 months. We will be stopping work, but my company has offered me a "contract" position for consulting. This is a cash position and I am assuming that I will be getting a 1099 at the end of the year for the money I am paid. I have not done this before and was wondering if anyone has any recommendations as far as where to go to learn how taxes will work, and if I can put some of the money into an IRA without paying taxes on the money upfront, etc.? Also any general advice on how this works and what I should avoid or keep track of, the good and bad would be greatly appreciated. Thank you, Liveinaz If possible - as for a 32-35 hour role with benefits at a reduced salary. Very nice to have ...
by NewMoneyMustBeSmart
Thu Jan 05, 2023 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Online Account - Mysterious Error Message 8028
Replies: 47
Views: 21342

Re: Unable to Access My IRS Account - Mysterious Error Message

It's is offline for me until Jan 9 Thank you. I see on another thread that the IP PIN system is offline until Jan 9. But it is strange that I cannot access anything on my account after logging in, it's not just IP PIN for me. Is the entire account access supposed to be offline during this time? Your tax dollars at work. The problem is that the IRS hasn't been getting enough funding to do what it's supposed to do, resulting in increasingly antiquated technology, long wait times due to understaffed call centers, decreased compliance agents, etc. The recent Inflation Reduction Act contains increased funding, so with luck things will improve. Is that the problem? It's not with the allocation of the existing budget? I've never seen a problem th...
by NewMoneyMustBeSmart
Thu Jan 05, 2023 9:41 am
Forum: Personal Finance (Not Investing)
Topic: IRS Online Account - Mysterious Error Message 8028
Replies: 47
Views: 21342

Re: Unable to Access My IRS Account - Mysterious Error Message

truenorth418 wrote: Thu Jan 05, 2023 12:59 am
nalor511 wrote: Wed Jan 04, 2023 1:20 am It's is offline for me until Jan 9
Thank you. I see on another thread that the IP PIN system is offline until Jan 9. But it is strange that I cannot access anything on my account after logging in, it's not just IP PIN for me. Is the entire account access supposed to be offline during this time?
Your tax dollars at work.
by NewMoneyMustBeSmart
Mon Jan 02, 2023 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Kitces on Secure Act 2.0
Replies: 40
Views: 8387

Re: Kitces on Secure Act 2.0

VanGar+Goyle wrote: Sat Dec 31, 2022 7:29 am
whodidntante wrote: Sat Dec 31, 2022 12:33 am I was hoping that someone would read the act and restate it in a slightly different way.
Jeff "The Buckinghammer" Levine, CPA/PFS, CFP® restated it on twitter using simpsons GIFs.
More fun, less informative. https://twitter.com/CPAPlanner/status/ ... 8183924738
Thanks for posting this! It was amusing to read and now my head is swimming!
by NewMoneyMustBeSmart
Sun Dec 11, 2022 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Former employer asked if I want to return to work there part-time
Replies: 224
Views: 18054

Re: Former employer asked if I want to return to work there part-time

nitro4214 wrote: Fri Dec 09, 2022 8:25 pm (i.e. "who does this guy think he is to ask for this much?")
You're the guy who voted with his feet, left them, and they are asking you to come back because they need you.
by NewMoneyMustBeSmart
Mon Nov 28, 2022 7:42 pm
Forum: Personal Consumer Issues
Topic: Gifts FROM a dying person
Replies: 15
Views: 3207

Re: Gifts FROM a dying person

mcamp18 wrote: Sun Nov 27, 2022 2:09 pm Greetings!

Somber topic, I know. I have a brother who just entered hospice. We have been very close our whole lives. He is resigned to his fate. I mentioned to him this morning had he thought about Christmas gifts for his family this year. ...
1. Financial Gifts to kids using lifetime exemption (tax free)
2. A video to each kid and wife
3. A video about his life.

Good luck Tough stuff.
by NewMoneyMustBeSmart
Mon Nov 28, 2022 7:39 pm
Forum: Investing - Theory, News & General
Topic: UTMA coming due for estranged child
Replies: 60
Views: 7701

Re: UTMA coming due for estranged child

FelixTheCat wrote: Wed Nov 23, 2022 1:39 pm I set up a UTMA for my child a long time ago with the age of majority being 25. My kid is estranged and all attempts at contact have been not returned. The brokerage firm told me the account will be closed in three years and the money will be sent to the state.

Are there any alternatives to this situation?
I'm sorry that you're going through this hassle and that your child is estranged.

For this reason and others, we chose to do a Crummey trust so we could maintain control if the child acted childish.
by NewMoneyMustBeSmart
Mon Nov 28, 2022 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Large capital gain from private company stock
Replies: 8
Views: 1175

Re: Large capital gain from private company stock

I'm planning for an upcoming large capital gain that will hit upon retirement from a private company where I have stock that can only be held by employees. I am looking for any suggestions to minimize the huge capital gains taxes? I don't think donating shares to charity and sevrral other strategies that work for publicly traded stocks are available. Please correct me if I'm wrong. I hate it when people say this, but run this by a CPA. I can recommend a good one if yours doesn't help. In general, the tax tricks with donation have you donating the LTCG highly appreciated stock BEFORE you sell it. Since yours is privately held, I'd explore if you can do 'bona fide' estate planning and transfer the stock to other entities such as GRATs, SLATs...
by NewMoneyMustBeSmart
Tue Nov 08, 2022 7:43 pm
Forum: Personal Consumer Issues
Topic: Toto washlet/bidet seat
Replies: 33
Views: 5575

Re: Toto washlet/bidet seat

Bogle7 wrote: Mon Nov 07, 2022 11:29 pm We have the 500e.
Amazing. 3 years experience.
Install an outlet and buy it.
Be happy.
I have the Neorest 700h. If you have the means, I highly recommend it.

https://www.youtube.com/watch?v=0wALArd2rvo
by NewMoneyMustBeSmart
Fri Nov 04, 2022 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Re: Input on Family Mortgage

DSBH wrote: Mon Oct 31, 2022 1:57 pm Quick follow up ...
excellent - thank you!
by NewMoneyMustBeSmart
Thu Sep 22, 2022 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Re: Input on Family Mortgage

the_wiki wrote: Thu Sep 22, 2022 12:42 pm This is a good way to lose both money and a close family relationship at the same time.

Imagine she stops paying, then what do you do? Foreclose on your own sister? Then she will hate you. But if you don't, you will resent her.

Don't do it.
Reasonable advice, but the BATNA appears to be that her and my niblings move into an apartment, away from their home of 5 years.

Not sure there's a both good and safe option here.
by NewMoneyMustBeSmart
Thu Sep 22, 2022 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Re: Input on Family Mortgage

DSBH wrote: Thu Sep 22, 2022 12:44 pm According to their web site - https://www.nationalfamilymortgage.com/ ... /products/ - a 250K loan requires a one-time set up fee of $1,075. The optional loan monthly servicing fee is $15/month.
I found that this morning, thanks! 2 Atttorneys I spoke with today quoted $750-$2k to do the paperwork.

Note that the loan serving fee is "starting at" $15/mo :-)
by NewMoneyMustBeSmart
Thu Sep 22, 2022 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Re: Input on Family Mortgage

As noted above you'll need to charge at least the minimum rate from the IRS table. We did this last summer for our daughter and SIL. In their offer there was no financing contingency. Once offer accepted, the closing/title company had a lawyer on staff who drafted up the mortgage documents for us. Dumb question - but which mortgage documents? I know with our last home purchase I read all the docs I signed - it took a long time :-) But I don't remember them all. I mean - did the title company do all the paperwork, or did you have to write up the loan contract? We have the lien on the house, and they pay us monthly. The mortgage was recorded in their county of residence, again the title company handled all that. I believe it was $250 for the...
by NewMoneyMustBeSmart
Thu Sep 22, 2022 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Re: Input on Family Mortgage

exodusNH wrote: Wed Sep 21, 2022 10:45 pm You will need to charge at least the IRS' minimum interest rate: https://www.irs.gov/applicable-federal-rates

In addition, you will need to claim the mortgage interest as income and pay taxes on it.

You will presumably also need to generate the 1099 for your sister annually.

Agreed on the rate having to be above AFR which is around 3% - given that her existing cosign loan is 6.3% I'm planning to make the rate between 3.5-6.5%.

Agree re: taxed on interest income. Hadn't thought about the 1099 but that's not a huge rock.
by NewMoneyMustBeSmart
Wed Sep 21, 2022 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Input on Family Mortgage
Replies: 21
Views: 2995

Input on Family Mortgage

I'm considering loaning my sister $250,000 to refinance her house due to a divorce. She makes $200k with her small business but wrote off $100k so her tax income is $100k. I realize this is a murky area, as the $100k may or may not have been true expenses or discretionary, I don't want to look into this too much. She says she can make the $2250 payment (principal, interest, insurance, taxes) with her single income and I believe her. The loan offer from a state bank, requiring a cosigner, is at 6.3% for 30 years. This is after today's rate hike. I was initially asked to cosign and am pretty sure I won't do that. It appears there are middleman companies like https://www.nationalfamilymortgage.com/ that will serve as a mortgage processor for p...
by NewMoneyMustBeSmart
Mon Sep 19, 2022 8:13 pm
Forum: Personal Consumer Issues
Topic: Can’t get Chase Reserve Card Travel Insurance to honor my Claim
Replies: 28
Views: 4089

Re: Can’t get Chase Reserve Card Travel Insurance to honor my Claim

TrustButVerifying wrote: Mon Sep 19, 2022 7:04 pm I am completely frustrated. I have found that if I don’t initiate calls, nothing happens. And even when I do, nothing happens. Have others had this experience? Do I have any other recourse?
If this happened to me I'd send a demand letter to the CEO of the company.
by NewMoneyMustBeSmart
Wed Sep 14, 2022 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Respond to Credit Card Dispute
Replies: 11
Views: 1542

Re: Respond to Credit Card Dispute

pinkfonzie wrote: Tue Sep 13, 2022 6:58 pm The dispute is of a car rental service in a foreign country.
Was it Costa Rica?
by NewMoneyMustBeSmart
Sun Sep 11, 2022 3:18 pm
Forum: Personal Consumer Issues
Topic: Favorite music from the 70s?
Replies: 357
Views: 31201

Re: Favorite music from the 70s?

OkieIndexer wrote: Sat Aug 27, 2022 6:27 am Share your favorite 70s songs and rarely heard gems!
The Joneses - Movin' On - The Early Years

https://www.amazon.com/Movin-Early-Year ... B007PUOGGM
by NewMoneyMustBeSmart
Thu Sep 08, 2022 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Question about paying taxes for Irrevocable Grantor Trust on behalf of grantor
Replies: 11
Views: 644

Re: Question about paying taxes for Irrevocable Grantor Trust on behalf of grantor

jomama341 wrote: Thu Sep 08, 2022 10:41 am Is it advisable/legal for me to "gift" my father $16,000 annually for him to pay taxes on the trust in lieu of distributing $16,000 out of the trust?
I'm sure you know this - but if you or he are married, or have an SO - it's $16k per person-pair. So if you're both married it's $64k tax free.
by NewMoneyMustBeSmart
Thu Sep 08, 2022 7:53 pm
Forum: Personal Consumer Issues
Topic: Help for Whole House Water Filter
Replies: 6
Views: 731

Re: Help for Whole House Water Filter

SurferLife wrote: Wed Sep 07, 2022 3:03 pm In reading my water quality report it states that atrazine, an herbicide, is in the water. How can we get that herbicide out and are we missing anything?
You should be aware that there is rat feces, animal flesh, insects, and cancer causing molecules in your water.

What matters is the amount of them, as that affects the risk - to wit: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6164008/

Have you done your own water analysis? Should be trivially easy to send a self-gathered water sample out for analysis.
by NewMoneyMustBeSmart
Thu Sep 08, 2022 11:43 am
Forum: US Chapters
Topic: SNBC - Southeastern Nebraska Bogleheads Chapter
Replies: 2
Views: 444

SNBC - Southeastern Nebraska Bogleheads Chapter

Hello, I'd like to start a Southeastern Nebraska Bogleheads Chapter :-). This would be for folks in the greater Lincoln/Omaha area to get together to discuss investing in the Boglehead manner. If there is a protocol or application process for such a chapter, please let me know and I will follow it. If such a group exists, mea culpa, please let me know. There's quite a few bogleheads.com members from LNK and OMA, and reviewing the history, I see a lot of solicitations similar to this. However, they haven't gotten bites, and I'm trying again. Name: SNBC - Southeastern Nebraska Bogleheads Chapter Location: Southeastern Nebraska Meeting Location: Office, Private Room, or Home in Omaha or Lincoln Meeting Frequency: Monthly Meeting Agenda/Purpose...
by NewMoneyMustBeSmart
Tue Sep 06, 2022 8:28 pm
Forum: Personal Consumer Issues
Topic: share your experiences/tips with new features on your new cars
Replies: 79
Views: 6064

Re: share your experiences/tips with new features on your new cars

I recently purchased a 2022 Tesla X Plaid. The acceleration is wonderful. The rest of the car is very good.

I am reminded of the quote from Ferris Bueller's Day Off

"It is so choice. If you have the means, I highly recommend picking one up."

https://www.youtube.com/watch?v=0wALArd2rvo
by NewMoneyMustBeSmart
Wed Aug 24, 2022 5:45 pm
Forum: Personal Investments
Topic: Can I create numerous single-member LLC's or revocable trusts to buy unlimited I-Bonds?
Replies: 56
Views: 4832

Re: Can I create numerous single-member LLC's or revocable trusts to buy unlimited I-Bonds?

.... Same question, but creating revocable trusts that all have the same beneficiary? What would be the most cost and time effective way to do this? Any issues I'm not thinking of? Is this allowed by the letter of the law? And also importantly, is this allowed by the spirit of it? I know of a few people who set up several revocable living trusts ("RLT"). The one I know the most about setup different beneficiaries - possibly a needless optimization. Things have worked fine for last few years, all RLTs have the same SS# listed and given to TD. There was a neat thread some months ago about how the letter of the law is person or entity, and an RLT isn't an entity (and if I recall correctly, an LLC/partnership wasn't either). Notwiths...
by NewMoneyMustBeSmart
Wed Aug 24, 2022 9:52 am
Forum: Investing - Theory, News & General
Topic: Trading costs across brokers
Replies: 13
Views: 1530

Re: Trading costs across brokers

jeffyscott wrote: Wed Aug 24, 2022 8:50 am
Beliavsky wrote: Tue Aug 23, 2022 9:51 am Schwab was not included in the study since it is acquiring TD Ameritrade.
This seems like a bizarre and backwards choice :confused .

Including Schwab and leaving out TDA would've made a lot more sense.
Agreed. The explanation for leaving Schwab out is not logical.
by NewMoneyMustBeSmart
Wed Aug 24, 2022 9:41 am
Forum: Personal Investments
Topic: Investment tracking tool - Morningstar, PersonalCapital, other?
Replies: 9
Views: 1084

Re: Investment tracking tool - Morningstar, PersonalCapital, other?

I have traditionally used my own spreadsheet to track my investments and am looking to use a tracking tool mainly because it would be easier for my spouse to use as she starts to get more familiar with our investments. Any opinions on what tools are ideal for this purpose? My portfolio includes 401ks, Roths, 529s and Taxable accounts. The goal is to be able to easily look at allocation and performance without having to manually intervene a lot, while I will continue with my spreadsheets the tool should be something my spouse can easily access online. Personal Capital seems okay although I don't pay any attention to the "advice" offers. Morning Star I have very little experience with but I have read good things about their enhance...
by NewMoneyMustBeSmart
Sun Aug 14, 2022 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Making Qualified Charitable Donations To Your *Own* Charity?
Replies: 58
Views: 4714

Re: Making Qualified Charitable Donations To Your *Own* Charity?

Great. Sounds like you've done exactly what I had in mind. I'll come back with more logistical questions later, but in the mean time ... Did you find the process of sorting through applications and giving out the good news gratifying? That's the main reason I want to take this route, I think it will be much more fun and impactful to learn about the people and reward them rather than cutting a check to another foundation. Were there any unforeseen consequences/issues. As a few others posted, while it worked for me (highly appreciated owned LTCG stock), it looks like it won't for your QCD: Type of charity that can receive a QCD Currently, QCDs cannot be made to donor-advised fund sponsors, private foundations and supporting organizations, th...
by NewMoneyMustBeSmart
Sun Aug 14, 2022 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Managing Multiple Job Offers
Replies: 38
Views: 3314

Re: Managing Multiple Job Offers

If Company A offer comes in a few days earlier than the others, how long is reasonable to stall? And if I need to stall, is it worth revealing any information other than "I need more time to think it over"? My perspective is consistent with others on the forum. Few offers expire within 24 hours. Please tell us what industry you are in, as the culture varies between them. Waiting "until Monday", or a week, or even two weeks is okay. Two weeks is maybe 50% of the time. One negotiating technique is to always have 'an approver.' Like someone else mentioned, say you need to talk it over with [XXX]. Doesn't matter who XXX is as long as it passes the common sense test. Depending on your age/situation - wife, mentor, financial ...
by NewMoneyMustBeSmart
Sat Aug 13, 2022 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Making Qualified Charitable Donations To Your *Own* Charity?
Replies: 58
Views: 4714

Re: Making Qualified Charitable Donations To Your *Own* Charity?

I've spent the last few days playing with spreadsheets and come to the realization if the market performs in the next 20 years as it has for the last 20 years I've going to have some pretty big RMDs to take out. So much so it will put me into my current or even higher tax bracket if I make it to 90. Congrats and good luck. Nothing much I can do about it now but I've been told numerous times on this board one can make 100K a year tax free (to both me and the charity) Qualified Charitable Donations (QCD). Sounds like a great idea and I couldn't think of anything nicer than giving away money to deserving people *directly*. I'm not familiar with the $100k tax free so I have not comment on that. So would the IRS frown on if : 1) I set up a 501(...
by NewMoneyMustBeSmart
Thu Aug 11, 2022 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: Source for salary information
Replies: 45
Views: 3904

Re: Source for salary information

My son graduates next semester with a masters in mechanical engineering and just got his first job offer. Rather than give a salary they asked him what his expectations are. He responded with a range based on ranges being published for similar entry level positions and they said their software is predicting a much lower range but didn't say what it is. It's a very strange way to handle this with a new graduate. In any case, where is the best place to get salary ranges broken down by industry and location since I know those are both large factors? 1. What was the range your son gave? 2. A job offer without a salary is not a job offer. Is it possible that the employer said they'd like to hire him but want to know his salary expectations firs...
by NewMoneyMustBeSmart
Thu Aug 11, 2022 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Start up advisory board role
Replies: 14
Views: 1796

Re: Start up advisory board role

simplesimon wrote: Thu Aug 11, 2022 11:08 am What legal docs should be part of this arrangement?
Man, this is just not something I ever thought of. I just helped and they gave me something to sign and I got stock and sometimes it hit the jackpot.

Generally they do a simple contract saying for X months they'll give you Y shares vesting with a certain schedule. Then they reference the stock agreement which has provisions for options which are usually (must?) be treated as NSOs.
by NewMoneyMustBeSmart
Mon Aug 08, 2022 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Start up advisory board role
Replies: 14
Views: 1796

Re: Start up advisory board role

To be clear, an Advisory Board is different from the Board of Directors and I don't think you need to be worried about D&O coverage. For Board roles, I'm a proponent of taking a modest amount of cash to compensate you at a reasonable rate for time spent. I'd suggest asking them for the expected number of hours they'll use you over the course of a year, then multiply by $200 and divide by 4 and bill that amount at the beginning of each quarter. Ask them for 0.25% in options if they have VC investors already or 0.5% of shares if they don't. Good Luck, Kevin Agreed re: no D&O for advisory board. For a different perspective, I'd NEVER do paid (cash) work for an advisory board. I want the equity upside. If the expected value isn't there...
by NewMoneyMustBeSmart
Mon Aug 08, 2022 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Start up advisory board role
Replies: 14
Views: 1796

Re: Start up advisory board role

psteinx wrote: Fri Aug 05, 2022 9:35 pm
NewMoneyMustBeSmart wrote: Fri Aug 05, 2022 5:15 pmI've been on about 20 advisory boards in the last 25 years and made about $3M from the activities.
Ooh, nice.

Was that $3M reasonably spread out among several of the 20, or did 1 or 2 hit big?

Was it reasonably foreseeable - significant Angel/VC funding and/or founders who clearly had it on the ball/had the right experience/product, etc?
3 big hits. 3 base hits. nothing from others.
by NewMoneyMustBeSmart
Mon Aug 08, 2022 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Start up advisory board role
Replies: 14
Views: 1796

Re: Start up advisory board role

simplesimon wrote: Fri Aug 05, 2022 6:03 pm
NewMoneyMustBeSmart wrote: Fri Aug 05, 2022 5:15 pm
simplesimon wrote: Fri Aug 05, 2022 4:11 pm Someone asked me to join a board of advisors for a start up. I have no experience in this type of role but have industry experience that the founder wants. It seems like an interesting opportunity and wanted to see if any Bogleheads had advice that I could message. Thank you in advance!
This information below is based on my subjective perspective. I'm crazy, I recognize you ignore me.
Non monetary benefits of doing this? Would you do it again if you made nothing?

They offered stock, cash, or a combination of both.
All stock.

Non monetary benefits was contacts, friends, people on the advisory boards I later hired, one invested with me in something.

I'd do it again if I made nothing for the expected value.
by NewMoneyMustBeSmart
Fri Aug 05, 2022 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Start up advisory board role
Replies: 14
Views: 1796

Re: Start up advisory board role

Someone asked me to join a board of advisors for a start up. I have no experience in this type of role but have industry experience that the founder wants. It seems like an interesting opportunity and wanted to see if any Bogleheads had advice that I could message. Thank you in advance! This information below is based on my subjective perspective. I'm crazy, I recognize you ignore me. Companies form advisory boards for one or more of four reasons: 1. To influence other buyers to buy their products 2. To encourage investors to invest in their company 3. To bribe the advisory board member to encourage their own company to buy things 4. To solicit useful information to help the company make good decisions You probably should do this, and you ...
by NewMoneyMustBeSmart
Fri Aug 05, 2022 5:11 pm
Forum: Personal Consumer Issues
Topic: How to say "No" for an extended warranty?
Replies: 117
Views: 7478

Re: How to say "No" for an extended warranty?

BogleMelon wrote: Fri Aug 05, 2022 11:48 am How did you say "no" in those situations before, and what were the financial manager "salesman" usual reaction, and how did you deal with that reaction?
My goodness. If I told you I would think less of you if you didn't give me $5k what would you do?

What I do, after I negotiate a good price on the car, is sit down the "useless add ons closer" and smile and listen to what they say.

Then I put my tongue up to the front roof of my mouth to make the the "N" sound, then I make a sort of rounded cicle with my lips, which sounds like " Noooooooo."

Then whatever they say after that, I repeat.

I recommend this.
by NewMoneyMustBeSmart
Mon Aug 01, 2022 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Source which 529 for Student's Scholarship Reimbursement
Replies: 3
Views: 325

Re: Source which 529 for Student's Scholarship Reimbursement

Can you clarify your plans? Sure! Thanks for your input and thoughts. Are you planning to withdraw both $6000 for qualified expenses like room, board, computer and books as well as a second $6000 each semester to reimburse for the scholarship? Yes. That is unlikely to be the best choice from a tax perspective. This is a complex area with lots of moving parts. Agree. Also realize you can not separate the totally tax free withdrawal for room&board from the scholarship reimbursement when done in the same year. Help me understand your thinking on this, because I kind of look at these as independent decisions. Decision 1: If we reimburse scholarship, how do we minimize taxes? Decision 2: If we pay for other college expenses, how do we minim...