It may be partly data mining - but is a pretty basic portfolio in the sense that it uses the 5 fundamental asset classes in equal proportion. I would like it better without any tilt toward REITs, as they are really stocks.TimeIsYourFriend wrote: ↑Sun Mar 17, 2024 10:47 am There's hundreds of different portfolios. Backtesting these back to 1970 doesn't tell you what the next 50 years will bring. An 8% return with a max drawdown of -14% is not something I would expect from a given portfolio. That is, in effect, data mining a collection of assets that happened to do well together over the period.
Search found 9801 matches
- Sun Mar 17, 2024 12:46 pm
- Forum: Investing - Theory, News & General
- Topic: Awesome Portfolio: 20% Stocks..20% Bonds..20% Cash..20%Real Estate, 20%Gold
- Replies: 38
- Views: 3921
Re: Awesome Portfolio: 20% Stocks..20% Bonds..20% Cash..20%Real Estate, 20%Gold
- Sun Mar 17, 2024 9:00 am
- Forum: Personal Investments
- Topic: HELP - what to invest in for 750,000 windfall
- Replies: 14
- Views: 1971
Re: HELP - what to invest in for 750,000 windfall
I would never invest a big chunk of my money based upon someone else's suggestion. I would read-up on investing, construct an Investing Policy Statement (an IPS, a written plan), and then invest accordingly. You will never stick to a plan unless you thoroughly understand it and have bought into it. And sticking to one's plan is an important element of success.Helloall wrote: ↑Sat Mar 16, 2024 8:29 pm Hi all, new to Boglehead community and investing generally. I’m expecting windfall of about 750,000. I want to use all of it to invest long term over next 15-20 years so I can hopefully retire early (currently, 38).
Where would you invest this money if you were me and how would you allocate it?
Thank you for your help.
Best of luck!
- Sun Mar 17, 2024 8:37 am
- Forum: Investing - Theory, News & General
- Topic: Anybody heard stories of well "prepared" retirees running out of money?
- Replies: 95
- Views: 10888
Re: Anybody heard stories of well "prepared" retirees running out of money?
Long-term care costs for just one spouse can cause both spouses to run out of money unexpectedly. My parents were year 2000 retires who lived frugally on SS benefits and RMDs, no LTCi and no “spousal refusal” law or spousal IRA exclusions in their state. After 21 years of retirement they could have continued to live this way for many years. Unfortunately, one parent’s long-term care (dementia) wiped out their savings and vacation home equity due to skilled nursing facility private-pay fees of $20k/month before qualifying for Medicaid LTC benefits. The late-80s parent could not be safely cared for at home anymore due to serious health conditions and extreme aggressiveness. The “well” parent was left with low SS benefits and very little asse...
- Sat Mar 16, 2024 3:23 pm
- Forum: Investing - Theory, News & General
- Topic: Anybody heard stories of well "prepared" retirees running out of money?
- Replies: 95
- Views: 10888
Re: Anybody heard stories of well "prepared" retirees running out of money?
Almost by definition, if a person is well prepared, the plan should not fail.
- Fri Mar 15, 2024 8:45 am
- Forum: Personal Investments
- Topic: treasury bonds/ inflation
- Replies: 6
- Views: 1075
Re: treasury bonds/ inflation
Historically, 2 year treasuries have kept a bit above inflation, but that is the past - not a guarantee of the future. Why not buy TIPS - where you can lock-in about 2% above inflation for any period you want?
- Fri Mar 15, 2024 8:42 am
- Forum: Personal Investments
- Topic: Bonds vs MM funds vs ETF
- Replies: 7
- Views: 1016
Re: Bonds vs MM funds vs ETF
1.) Reinvestment risk. What if the MM and longer-term bonds are paying 3% down the road? Then you missed-out on locking in 4%-5% rates.sl5050 wrote: ↑Thu Mar 14, 2024 8:25 pm I feel like this question is dumb but I'll ask anyway.
1) Why would anyone buy bonds at yields under 8% when you can buy a money market fund from fidelity (fisxx) or vanguard yielding ~ 5.2%. It doesn't seem like the 300 bps is worth the risk of single bond exposure.
2) I have the same question for an etf like BND versus the aforementioned money market funds. BND is yielding 3.3% right now and introduces principle risk via price fluctuation.
2.) I think you have the yield on BND wrong. What you care about is yield to maturity (YTM).
- Fri Mar 15, 2024 8:37 am
- Forum: Personal Finance (Not Investing)
- Topic: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
- Replies: 58
- Views: 4267
Re: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
Just don't do what my uncle did - which is leave all of his assets to one nephew and nothing to the many other nieces and nephews.
- Fri Mar 15, 2024 8:32 am
- Forum: Personal Investments
- Topic: Bond Investing
- Replies: 21
- Views: 2807
Re: Bond Investing
You are over-complicating it. Total Bond is fine, rebalance periodically - done. People got spooked when rates rose because they did not understand bonds.
- Wed Mar 13, 2024 7:56 am
- Forum: Personal Investments
- Topic: 80 year old mother's retirement accounts
- Replies: 23
- Views: 2108
Re: 80 year old mother's retirement accounts
I did that for my mother. I had her call Vanguard and they took care of it. I had them put all of her IRA money into a single Lifestrategy fund. She has been happy as a clam - doing nothing but collecting her RMDs, ever since. And I can rest easy, knowing she will not be cold-called and manipulated, and is highly-diversified, paying very small fees.
- Wed Mar 13, 2024 7:52 am
- Forum: Investing - Theory, News & General
- Topic: CD and callability
- Replies: 14
- Views: 1226
Re: CD and callability
I did purchase one about 3 months ago - a 10 year paying 6%. I expect it to be called soon (first call date). If you do buy one, make sure you understand the risks and benefits - and make sure you are being compensated adequately for the callability.
- Mon Mar 11, 2024 12:04 pm
- Forum: Personal Investments
- Topic: Treasuries - Up or Down rest of 2024
- Replies: 20
- Views: 1804
Re: Treasuries - Up or Down rest of 2024
Draft an Investing Policy Statement (IPS) and follow its guidance.
- Sat Mar 09, 2024 2:06 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax-Deductibility of LTC
- Replies: 7
- Views: 906
Re: Tax-Deductibility of LTC
Thank you all. I will look at some of the past threads related to this topic.
- Sat Mar 09, 2024 6:33 am
- Forum: Personal Finance (Not Investing)
- Topic: Tax-Deductibility of LTC
- Replies: 7
- Views: 906
Re: Tax-Deductibility of LTC
I asked an AI engine this question, but probably either got the wrong answer or did not ask the question correctly. Your answer makes more sense - thank you.
- Fri Mar 08, 2024 7:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax-Deductibility of LTC
- Replies: 7
- Views: 906
Tax-Deductibility of LTC
I have read that withdrawals from a 401k or 403b are not tax-deductible if used for LTC expenses, but withdrawals form a traditional IRA are deductible for that portion that exceeds 7.5% of AGI. Does this mean it may make sense to do an IRA rollover with a portion of one's 401k/403b for this purpose? This is purely hypothetical - for planning purposes.
- Fri Mar 08, 2024 10:07 am
- Forum: Investing - Theory, News & General
- Topic: William Bernstein On the Financial Industry
- Replies: 81
- Views: 9784
Re: William Bernstein On the Financial Industry
That's why I only recommend Vanguard to family members (all of whom are not particularly literate with investing). I usually recommend a single Lifestrategy fund. I still trust Vanguard more than other firms not to try to mislead uninformed investors - at least for now.
- Thu Mar 07, 2024 12:21 pm
- Forum: Investing - Theory, News & General
- Topic: Fidelity and Bank of America data lost in Infosys breach
- Replies: 57
- Views: 6477
Re: Fidelity and Bank of America data lost in Infosys breach
Fidelity has a Customer Protection Guarantee. Until someone comes forward with a story where Fidelity did not honor it, one should remain calm.
- Tue Mar 05, 2024 5:43 pm
- Forum: Investing - Theory, News & General
- Topic: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
- Replies: 32
- Views: 3574
Re: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
I've lived (and invested) through all of those, but the specter of 1929 still remains. I think that when we start thinking that stocks are not really risky - that they must recover over a reasonable time frame - we are not considering the entire spectrum of possibilities - and therefore not fully considering the actual risk. OK, then how would fully considering the actual risk change your behavior? We are lucky that we are not living in some places in the Middle East and elseewhere around the world which have turned out way way way worse than 1929 in the USA. I only hold in stocks what I would be willing to lose. That may seem like an extreme position, but it allows me to have zero anxiety in the worst of bear markets - and I like that.
- Tue Mar 05, 2024 6:56 am
- Forum: Investing - Theory, News & General
- Topic: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
- Replies: 32
- Views: 3574
Re: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
I've lived (and invested) through all of those, but the specter of 1929 still remains. I think that when we start thinking that stocks are not really risky - that they must recover over a reasonable time frame - we are not considering the entire spectrum of possibilities - and therefore not fully considering the actual risk.
- Mon Mar 04, 2024 1:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
I can say this. My Uncle never interacted with the medical system and made it to 90 reasonably healthy for his age. Then he had a fall and gashed his head. After 1 week in the hospital and 2 weeks in "rehab," the cut on his head has healed but he is in much worse shape - now totally bedridden. I don't think there was any rehab done in "rehab."
He is home now - much happier - but probably not a sustainable situation. We will see how it goes.
He is home now - much happier - but probably not a sustainable situation. We will see how it goes.
- Mon Mar 04, 2024 1:50 pm
- Forum: Personal Investments
- Topic: Talk me out of switching from Vanguard to Betterment
- Replies: 16
- Views: 1988
Re: Talk me out of switching from Vanguard to Betterment
I like a boring portfolio. Fortunately, that is usually synonymous with prudent and profitable investing.
- Sun Mar 03, 2024 8:14 pm
- Forum: Investing - Theory, News & General
- Topic: Municipal bonds vs treasury bonds -- just a matter of after tax yield?
- Replies: 18
- Views: 1378
Re: Municipal bonds vs treasury bonds -- just a matter of after tax yield?
Right now, TBills offer higher after-tax rates (compared to munis) and less risk (of the types I care about). Hence, the bulk of my taxable bond money is in TBills.
- Sun Mar 03, 2024 12:39 pm
- Forum: Personal Consumer Issues
- Topic: Adjustable Bed
- Replies: 19
- Views: 1667
Re: Adjustable Bed
At this point in my life, having been a good Boglehead, the cost is not a concern at all. I realize now (even without the vertigo thing) that I have been foolish by suffering with that mattress for so long. Before the recliner sleep, I used to have numbness and tingling in my arms and hands from sleeping on them. But the recliner has its issues too. It has a sharp ledge i need to avoid, even though I want to put my feet against it. The legs are not elevated sufficiently. etc, etc, etc. I would prefer not to have to go to a showroom and try out different beds - but i am hearing I may need to do that. But I would think you really want to try out the bed for a while, so I am leaning toward a bed that has a return policy on the mattress - so i...
- Sun Mar 03, 2024 12:37 pm
- Forum: Personal Consumer Issues
- Topic: Adjustable Bed
- Replies: 19
- Views: 1667
Re: Adjustable Bed
Thanks. I am pretty ignorant about mattresses. I am considering a TempurPedic because they have several local stores. I assume they offer a variety of types. The one i have now is the type with springs - but 20 years is probably much too long to keep it.four7s wrote: ↑Sun Mar 03, 2024 10:19 am My wife and I have been sleeping on latex mattresses with adjustable capabilities for 10 years and we are very satisfied. We have two separate twin xl mattresses on a king size frame (IOW one can be up while the other can be down) I have occasional vertigo and DW has indigestion issues. We also put them up to watch TV. We researched a lot at the time and decided on pure latex mattresses. Best of luck to you. I wouldn’t wish vertigo on anyone. It’s horrible. Try the latex.
- Sun Mar 03, 2024 7:38 am
- Forum: Personal Consumer Issues
- Topic: Adjustable Bed
- Replies: 19
- Views: 1667
Re: Adjustable Bed
Last year we got a replacement Tempurpedic mattress, and tried their adjustable base while choosing a mattress. Ended up getting the adjustable base and I will never go back. I sleep easier and better than ever before. Strongly recommend trying it given your situation. Tempurpedic removed the old mattress and installed the new setup. We did the same - it was pricy but we have never slept better At this point in my life, having been a good Boglehead, the cost is not a concern at all. I realize now (even without the vertigo thing) that I have been foolish by suffering with that mattress for so long. Before the recliner sleep, I used to have numbness and tingling in my arms and hands from sleeping on them. But the recliner has its issues too....
- Sat Mar 02, 2024 7:30 am
- Forum: Personal Consumer Issues
- Topic: Adjustable Bed
- Replies: 19
- Views: 1667
Re: Adjustable Bed
I have thought of that. It may not be a bad idea - at least as a bridge. I think that wedge (on my bed) might be more comfortable than the recliner and might even allow side sleeping - although there still might be too much hip pressure. Worth a try though. Thanks for the suggestion!snic wrote: ↑Sat Mar 02, 2024 7:16 am Would a wedge pillow work? Might be worth a try. It's a lot cheaper than a new adjustable bed. E.g.:
https://www.amazon.com/Forias-Sleeping- ... B09L7PQ9FC
- Sat Mar 02, 2024 7:11 am
- Forum: Personal Consumer Issues
- Topic: Adjustable Bed
- Replies: 19
- Views: 1667
Adjustable Bed
Greetings, I have been sleeping in a not-so-great recliner for the past year because of a balance issue. When it started, I could not lie flat without severe vertigo. That has improved quite a bit but I would still like the option of sleeping with my trunk at an angle of 30-45 degrees. The recliner is not that comfortable and has lots of issues with hard edges, feet not raised high enough, etc - that are difficult to mitigate well. Also, my bed if flat and the mattress is 20 years old and in disrepair (several cracks held with duct tape). When I tried to sleep in my bed recently, I felt a lot of pressure on my shoulder and hip - and did not stay in the bed for long. (I can't sleep flat on my back because it is hard to breathe.) I am sure th...
- Fri Mar 01, 2024 6:57 pm
- Forum: Personal Investments
- Topic: TIAA Traditional and Bond Fund Questions
- Replies: 24
- Views: 2179
Re: TIAA Traditional and Bond Fund Questions
Can you elaborate on that last sentence?crefwatch wrote: ↑Fri Mar 01, 2024 3:52 am Having just lived through over 10% losses in Total Bond, I give a lot if value to the no-loss character of TIAA Traditional, as well as interest near the 10-year Treasury rate. I figure if TIAA goes belly up, we will have a lot worse things to worry about than state guarantee associations. I own a lot of it.
I should point out that TIAA Trad is not a fractional ownership product (as is a mutual fund), which might bother someone worried about insurance company failure.
- Fri Mar 01, 2024 7:53 am
- Forum: Investing - Theory, News & General
- Topic: The recent surge: stand pat or "sell high?"
- Replies: 54
- Views: 6444
Re: The recent surge: stand pat or "sell high?"
Nothing wrong with a bit of trimming if consistent with your IPS - but I never make big moves. I also avoid selling in taxable unless at a loss.
- Wed Feb 28, 2024 8:07 am
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
Thanks for asking Barb. Hopefully, some benefit will come out of it. They sent a nurse and a trainee. They asked a lot of questions. The purpose was to assess the needs and make recommendations. They did not examine my uncle in any way - just asked questions.BarbBrooklyn wrote: ↑Tue Feb 27, 2024 8:14 pm OP, I hope today's meeting went well and was productive.
- Tue Feb 27, 2024 6:41 pm
- Forum: Personal Investments
- Topic: Retirement in the market
- Replies: 5
- Views: 1407
Re: Retirement in the market
I have about 20K that I want to invest into something. I have my ROTH maxed, HYSA, 401K, Brokerage, Crypto holdings etc. Can I put down a 20K down payment with a long-term financing provider at a typical mortgage interest rate, and take the 80% financing + principal and purchase index funds and pay off the interest over time? I feel like it would eventually outpace the interest (10-30 years from now) with the compounding interest via S&P 500, the larger base enables that compared to if I just put 20K into the market. Basically I'm looking for a legit way to get a mortgage but in the stock market instead of buying a physical house, is that crazy? roasts are welcome... Bad idea. This would be an unsecured loan, so you will pay a high int...
- Mon Feb 26, 2024 7:59 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
My dad and a brother will be there.BarbBrooklyn wrote: ↑Mon Feb 26, 2024 7:43 pmAre you able to be there to hear what is actually said? I found that my mom (with a somewhat similar profile to your mom) often heard something very different from what was actually being said by doctors, lawyers etc.Call_Me_Op wrote: ↑Mon Feb 26, 2024 7:08 pm There is a consultant visiting my parents tomorrow from a non-profit elderly care organization called Ethos. Hopefully, that starts some positive things happening.
It might be well to have another set of ears, even just on a speaker phone.
- Mon Feb 26, 2024 7:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
So what to do? I don't know. I think the uncle needs to experience a lack of care for a day or so to show him that no, he's not independent enough to stay home. He needs to go to a nursing home. I agree. Unfortunately, in my family that is viewed as a big no-no. It's a real problem. My mom is very head-strong, a strict catholic, and driven by guilt. But at some point, I plan to try to talk to her about it. i will tell her she can spend the whole day by his side if that's what she wants, but she really is unable to handle his care. Just curious - is your uncle the oldest son in your mother’s family? Because in that generation, sometimes the oldest son in the family is treated like a minor deity. Can do no wrong; his wish is others’ command....
- Mon Feb 26, 2024 7:24 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
Hmmmm...I know that all of his assets are titled to a revocable trust - and that my mom has DPOA. I assumed that the DPOA applied to the trust assets, because there aren't any other assets to my knowledge - unless the DPOA refers only to the small checking account.HomeStretch wrote: ↑Mon Feb 26, 2024 7:21 pmI don’t believe a DPOA is valid for a trust. The RL trust document should specify the trustee (likely your uncle) and successor trustees, if any.Call_Me_Op wrote: ↑Mon Feb 26, 2024 5:57 pm … I believe that my mom has durable power of attorney for uncle's revocable trust. …
My sister is the successor trustee, but I don't think she has any power while uncle is alive.
- Mon Feb 26, 2024 7:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
That's correct. He has always had a pathological aversion to conventional medical care. I do not think he has ever seen a doctor - until this recent fall when he gashed his head. Strangely, the doctor (at the hospital recently) told my mother "He is in good health." I found that hard to reconcile, when he has an enormous untreated hernia and cannot walk or even sit up in bed.
- Mon Feb 26, 2024 7:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
There is a consultant visiting my parents tomorrow from a non-profit elderly care organization called Ethos. Hopefully, that starts some positive things happening.
- Mon Feb 26, 2024 6:21 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
I agree. Unfortunately, in my family that is viewed as a big no-no. It's a real problem. My mom is very head-strong, a strict catholic, and driven by guilt. But at some point, I plan to try to talk to her about it. i will tell her she can spend the whole day by his side if that's what she wants, but she really is unable to handle his care.Jack FFR1846 wrote: ↑Mon Feb 26, 2024 6:16 pm
So what to do? I don't know. I think the uncle needs to experience a lack of care for a day or so to show him that no, he's not independent enough to stay home. He needs to go to a nursing home.
- Mon Feb 26, 2024 6:16 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
Many years ago, uncle made the brilliant unilateral decision to discontinue his homeowner's insurance. His house has been vacant for 12 years and had a pipe burst a few years ago causing quite a bit of damage. the only reason the is worth ~$750k is the land.
- Mon Feb 26, 2024 6:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
Yes, and a better man you cannot find. He has done everything for his in-laws and never asked anything in return. My dad has never had an unkind word to say about anyone.
- Mon Feb 26, 2024 6:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
There is in many states a complex infrastructure for services and support for this kind of situation. If you can afford private pay for in home care, and are willing to get someone to clean his home and temporarily relocate some of his library, it may be doable. The trick is getting a really good aide agency. So shop around. Another trick is making the psychological adjustment away from deferring to him on all decisions, to making hard decisions with his best interests in mind. For example, his need to stay home may be more important than his wish not to have his books touched. If he wants, you two can go through the books together to select which ones get a temporary new home. Does he have a medical and financial POA? We could never go th...
- Mon Feb 26, 2024 5:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
OP, At this stage you can pretty much count on a crisis happening where uncle makes a trip to the hospital after some kind of medical issue. It sounds cold hearted but when this happens you mom (and or your siblings) should refuse to take him home so he is forced into skilled nursing. His $200k will last for a while during which time disposal of the house should be arranged. Where is the sibling who is inheriting everything? This should be the person coordinating care. That sibling lives with my parents, is about 65 years old, and is a difficult person in his own right (very, very temperamental). He makes more trouble for my parents than provides help. For some reason, my uncle apparently favors him. In fact, it will be very difficult deal...
- Mon Feb 26, 2024 4:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
OP, At this stage you can pretty much count on a crisis happening where uncle makes a trip to the hospital after some kind of medical issue. It sounds cold hearted but when this happens you mom (and or your siblings) should refuse to take him home so he is forced into skilled nursing. His $200k will last for a while during which time disposal of the house should be arranged. Where is the sibling who is inheriting everything? This should be the person coordinating care. That sibling lives with my parents, is about 65 years old, and is a difficult person in his own right (very, very temperamental). He makes more trouble for my parents than provides help. For some reason, my uncle apparently favors him. In fact, it will be very difficult deal...
- Mon Feb 26, 2024 4:00 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
OP, At this stage you can pretty much count on a crisis happening where uncle makes a trip to the hospital after some kind of medical issue. It sounds cold hearted but when this happens you mom (and or your siblings) should refuse to take him home so he is forced into skilled nursing. His $200k will last for a while during which time disposal of the house should be arranged. Where is the sibling who is inheriting everything? This should be the person coordinating care. That recently happened after he fell as gashed his head open. He spent a week in the hospital and then 2 weeks in a rehab (which didn't really achieve any rehab). The rehab did not want to release him to my parents but my uncle insisted, so my mom had him released to her aga...
- Mon Feb 26, 2024 2:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
So it would be impossible to sell his house while he is alive. He will not consent to any of the books being touched. "Impossible" is so relative. Sounds like the current support by your parents is barely holding back the tide. If anything happens to either of them, who is next? If no one is living in the book-hoarder house, it could be a target for squatters, vandalism, general building decline and failure. The options may turn on how long Uncle lives vs Mom/Dad stay strong. If Uncle dies, make sure he has a clean will so that you can pay 1-800-Got Junk or your local cleanout service to load up the dumpsters and clear it out. If Uncle faces some sort of crisis, perhaps he will sell the house and buy the support that Mom/Dad/Uncl...
- Mon Feb 26, 2024 2:54 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
So true and well said. My siblings and I are all getting involved in large part because this is really negatively affecting my mom.
Believe it or not, I called my uncle yesterday to tell him I was thinking about him - and the first thing he asked me is if I will pay his medical expenses. That is unbelievable in light of the fact that he left all of his assets to one of my siblings - in other words, left me and the other siblings out of the will.
- Mon Feb 26, 2024 2:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Re: Advice on Paying for Care of Elderly Uncle
Good point. My dad is a very quiet guy and my mom rules the roost and is very strong-minded. However, because it is her brother and they have always had a contentious relationship, she has many conflicted emotions and seems to be unable to be her usual rational self.
We have reached-out (last week) to a social worker who is coming by tomorrow.
- Mon Feb 26, 2024 2:32 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Paying for Care of Elderly Uncle
- Replies: 62
- Views: 6528
Advice on Paying for Care of Elderly Uncle
I have a 90 year-old uncle (mother's brother) who is completely bed-ridden due to general weakness. He is absolutely opposed to a nursing home. Right now, my mother (also elderly) and my father (also elderly) are taking care of him, but it is too much for them. My uncle is staying in my mother's house (downstairs in his own apartment). He also owns a separate house worth about $750k, and he has about $200k is investments. The problem is his house (in which he is not living) is filled completely with books - from basement to attic. He is a long-time book hoarder and refuses to get rid of any of his books. So it would be impossible to sell his house while he is alive. He will not consent to any of the books being touched. Since we need to bri...
- Sun Feb 25, 2024 3:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax Question - Neglected to Report Roth Conversion
- Replies: 17
- Views: 1353
Re: Tax Question - Neglected to Report Roth Conversion
OK. Since contributions were non-deductible, the tax will be closer to $10 (only taxed in proportion to the fractional gain of TIRA). FYI, I am in the 35% bracket.toddthebod wrote: ↑Sun Feb 25, 2024 2:18 pm I would do nothing. Wait for the letter saying you owe $24, and mail them a check then.
- Sun Feb 25, 2024 12:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Tax Question - Neglected to Report Roth Conversion
- Replies: 17
- Views: 1353
Re: Tax Question - Neglected to Report Roth Conversion
In 2023, I did a small ($100) Roth conversion to start the Roth Clock. I e-filed my federal taxes yesterday (I owe a few thousand $), and after filing, I realized that I had not reported the $100 Roth conversion. I think the reason I did not report it was that Taxact did not prompt me for a Roth Conversion - only a Roth contribution - which I entered as $0. (In other words, I did not think it was appropriate to report the conversion as a contribution. I may have been wrong on that.) I would like to pay the small taxes due on the $100 conversion. Is it necessary for me to file an amended return, or would it be sufficient just to compute the tax due and add that amount to the payment I make to the Treasury? they will likely refund the overpa...
- Sun Feb 25, 2024 11:57 am
- Forum: Personal Finance (Not Investing)
- Topic: Tax Question - Neglected to Report Roth Conversion
- Replies: 17
- Views: 1353
Re: Tax Question - Neglected to Report Roth Conversion
they will likely refund the overpayment I think it would be an underpayment. I transferred $100 from a traditional IRA (with all non-deductible contributions) to a Roth IRA. The amount transferred is subject to taxation based on the difference between the traditional IRA value (at the time of the transfer) and the traditional IRA cost basis. The tax will be small (since growth of the traditional IRA has been small) - perhaps about $10. What I mean is, if you pay an extra tax and they reconcile the payments with your tax return as filed, they will refund the extra tax. They won't do the matching of 1099-Rs and detect the extra income until much later - end of this calendar year probably. Sounds like filing an amended it the way to go. I hav...
- Sun Feb 25, 2024 11:48 am
- Forum: Personal Finance (Not Investing)
- Topic: Tax Question - Neglected to Report Roth Conversion
- Replies: 17
- Views: 1353
Re: Tax Question - Neglected to Report Roth Conversion
In 2023, I did a small ($100) Roth conversion to start the Roth Clock. I e-filed my federal taxes yesterday (I owe a few thousand $), and after filing, I realized that I had not reported the $100 Roth conversion. I think the reason I did not report it was that Taxact did not prompt me for a Roth Conversion - only a Roth contribution - which I entered as $0. (In other words, I did not think it was appropriate to report the conversion as a contribution. I may have been wrong on that.) I would like to pay the small taxes due on the $100 conversion. Is it necessary for me to file an amended return, or would it be sufficient just to compute the tax due and add that amount to the payment I make to the Treasury? they will likely refund the overpa...