Search found 9801 matches

by Call_Me_Op
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: 3840

Re: Awesome Portfolio: 20% Stocks..20% Bonds..20% Cash..20%Real Estate, 20%Gold

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.
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.
by Call_Me_Op
Sun Mar 17, 2024 9:00 am
Forum: Personal Investments
Topic: HELP - what to invest in for 750,000 windfall
Replies: 14
Views: 1966

Re: HELP - what to invest in for 750,000 windfall

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.
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.

Best of luck!
by Call_Me_Op
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: 84
Views: 9778

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...
by Call_Me_Op
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: 84
Views: 9778

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.
by Call_Me_Op
Fri Mar 15, 2024 8:45 am
Forum: Personal Investments
Topic: treasury bonds/ inflation
Replies: 6
Views: 1072

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?
by Call_Me_Op
Fri Mar 15, 2024 8:42 am
Forum: Personal Investments
Topic: Bonds vs MM funds vs ETF
Replies: 7
Views: 1015

Re: Bonds vs MM funds vs ETF

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.
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.

2.) I think you have the yield on BND wrong. What you care about is yield to maturity (YTM).
by Call_Me_Op
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: 4127

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.
by Call_Me_Op
Fri Mar 15, 2024 8:32 am
Forum: Personal Investments
Topic: Bond Investing
Replies: 21
Views: 2781

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.
by Call_Me_Op
Wed Mar 13, 2024 7:56 am
Forum: Personal Investments
Topic: 80 year old mother's retirement accounts
Replies: 23
Views: 2106

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.
by Call_Me_Op
Wed Mar 13, 2024 7:52 am
Forum: Investing - Theory, News & General
Topic: CD and callability
Replies: 14
Views: 1222

Re: CD and callability

jebmke wrote: Wed Mar 13, 2024 6:42 am It has always been my opinion that the call premium contains all that is known about call risk. I avoid callable CDs.
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.
by Call_Me_Op
Mon Mar 11, 2024 12:04 pm
Forum: Personal Investments
Topic: Treasuries - Up or Down rest of 2024
Replies: 20
Views: 1791

Re: Treasuries - Up or Down rest of 2024

investing123 wrote: Mon Mar 11, 2024 11:35 am Opinions?
Draft an Investing Policy Statement (IPS) and follow its guidance.
by Call_Me_Op
Sat Mar 09, 2024 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-Deductibility of LTC
Replies: 7
Views: 904

Re: Tax-Deductibility of LTC

Thank you all. I will look at some of the past threads related to this topic.
by Call_Me_Op
Sat Mar 09, 2024 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Tax-Deductibility of LTC
Replies: 7
Views: 904

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.
by Call_Me_Op
Fri Mar 08, 2024 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-Deductibility of LTC
Replies: 7
Views: 904

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.
by Call_Me_Op
Fri Mar 08, 2024 10:07 am
Forum: Investing - Theory, News & General
Topic: William Bernstein On the Financial Industry
Replies: 81
Views: 9770

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.
by Call_Me_Op
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: 6465

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.
by Call_Me_Op
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.
by Call_Me_Op
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?

livesoft wrote: Mon Mar 04, 2024 4:06 pm Never got below 60% equities. Once one is used to 90%, 80%, 70% equities and has lived through 1987, 2000, 2007-2009, 2016, 2020, (probably some others) then one has learned that losses are nothing.
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.
by Call_Me_Op
Mon Mar 04, 2024 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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.
by Call_Me_Op
Mon Mar 04, 2024 1:50 pm
Forum: Personal Investments
Topic: Talk me out of switching from Vanguard to Betterment
Replies: 16
Views: 1987

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.
by Call_Me_Op
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: 1376

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.
by Call_Me_Op
Sun Mar 03, 2024 12:39 pm
Forum: Personal Consumer Issues
Topic: Adjustable Bed
Replies: 19
Views: 1662

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...
by Call_Me_Op
Sun Mar 03, 2024 12:37 pm
Forum: Personal Consumer Issues
Topic: Adjustable Bed
Replies: 19
Views: 1662

Re: Adjustable Bed

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.
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.
by Call_Me_Op
Sun Mar 03, 2024 7:38 am
Forum: Personal Consumer Issues
Topic: Adjustable Bed
Replies: 19
Views: 1662

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....
by Call_Me_Op
Sat Mar 02, 2024 7:30 am
Forum: Personal Consumer Issues
Topic: Adjustable Bed
Replies: 19
Views: 1662

Re: Adjustable Bed

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
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!
by Call_Me_Op
Sat Mar 02, 2024 7:11 am
Forum: Personal Consumer Issues
Topic: Adjustable Bed
Replies: 19
Views: 1662

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...
by Call_Me_Op
Fri Mar 01, 2024 6:57 pm
Forum: Personal Investments
Topic: TIAA Traditional and Bond Fund Questions
Replies: 24
Views: 2175

Re: TIAA Traditional and Bond Fund Questions

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.
Can you elaborate on that last sentence?
by Call_Me_Op
Fri Mar 01, 2024 7:53 am
Forum: Investing - Theory, News & General
Topic: The recent surge: stand pat or "sell high?"
Replies: 54
Views: 6437

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.
by Call_Me_Op
Wed Feb 28, 2024 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

BarbBrooklyn wrote: Tue Feb 27, 2024 8:14 pm OP, I hope today's meeting went well and was productive.
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.
by Call_Me_Op
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...
by Call_Me_Op
Mon Feb 26, 2024 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

BarbBrooklyn wrote: Mon Feb 26, 2024 7:43 pm
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.
Are 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.

It might be well to have another set of ears, even just on a speaker phone.
My dad and a brother will be there.
by Call_Me_Op
Mon Feb 26, 2024 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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....
by Call_Me_Op
Mon Feb 26, 2024 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

HomeStretch wrote: Mon Feb 26, 2024 7:21 pm
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. …
I 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.
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.

My sister is the successor trustee, but I don't think she has any power while uncle is alive.
by Call_Me_Op
Mon Feb 26, 2024 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

TN_Boy wrote: Mon Feb 26, 2024 7:03 pm I have to hone on this a bit, what do you mean " He does not have a physician?"

He only sees a doctor at the hospital when he falls and gashes his head?
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.
by Call_Me_Op
Mon Feb 26, 2024 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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.
by Call_Me_Op
Mon Feb 26, 2024 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

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.
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.
by Call_Me_Op
Mon Feb 26, 2024 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

Watty wrote: Mon Feb 26, 2024 6:10 pm
It would also be good to check to make sure your uncles empty house is still insured too. Often there are clauses in home insurance policies which limit coverage after a house has been vacant more than a couple of months.
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.
by Call_Me_Op
Mon Feb 26, 2024 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

delamer wrote: Mon Feb 26, 2024 5:41 pm Sounds like your dad is the innocent party in this mess. Support him as much as you can.
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.
by Call_Me_Op
Mon Feb 26, 2024 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Mon Feb 26, 2024 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Mon Feb 26, 2024 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Mon Feb 26, 2024 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Mon Feb 26, 2024 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Mon Feb 26, 2024 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

delamer wrote: Mon Feb 26, 2024 2:44 pm
Your uncle doesn’t have the moral standing to hold other people hostage to his wants, and have them jeopardize their health (mental and physical) and finances to make him happy (or less unhappy).
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.
by Call_Me_Op
Mon Feb 26, 2024 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

Re: Advice on Paying for Care of Elderly Uncle

sailaway wrote: Mon Feb 26, 2024 2:36 pm Check for county and state resources for the elderly. He may need a social worker to coordinate care, especially as some of the things he may need to be told can better be heard coming from outside of the family.
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.
by Call_Me_Op
Mon Feb 26, 2024 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6524

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...
by Call_Me_Op
Sun Feb 25, 2024 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question - Neglected to Report Roth Conversion
Replies: 17
Views: 1352

Re: Tax Question - Neglected to Report Roth Conversion

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.
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.
by Call_Me_Op
Sun Feb 25, 2024 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question - Neglected to Report Roth Conversion
Replies: 17
Views: 1352

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...
by Call_Me_Op
Sun Feb 25, 2024 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Tax Question - Neglected to Report Roth Conversion
Replies: 17
Views: 1352

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...
by Call_Me_Op
Sun Feb 25, 2024 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Tax Question - Neglected to Report Roth Conversion
Replies: 17
Views: 1352

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...