Search found 10181 matches

by letsgobobby
Wed Jun 28, 2017 12:01 pm
Forum: Personal Consumer Issues
Topic: Hilton Vacation Getaways
Replies: 11
Views: 946

Re: Hilton Vacation Getaways

these are painless. we've done several.
by letsgobobby
Tue Jun 27, 2017 7:14 pm
Forum: Investing - Help with Personal Investments
Topic: advice on how to invest inheritance wisely
Replies: 12
Views: 1005

Re: advice on how to invest inheritance wisely

My condolences. I understand what you're going through. Welcome to active posting life. Re: the inherited IRAs, you have until the end of 2017 (edited) to withdraw your dad's 2017 RMD. However the IRS may be lenient if you did not if the death was toward the end of the year. You have until Dec 31 20...
by letsgobobby
Tue Jun 27, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Voice Verification
Replies: 22
Views: 1443

Re: Vanguard Voice Verification

Really like it.
by letsgobobby
Tue Jun 27, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Middle age job blues
Replies: 86
Views: 7623

Re: Middle age job blues

What does being white have to do with any of this?
by letsgobobby
Tue Jun 27, 2017 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: (Almost) every day I make a financial mistake more costly than the day before
Replies: 39
Views: 3449

Re: (Almost) every day I make a financial mistake more costly than the day before

We have historically low interest rates (thankfully), only way for them to go is up, which we are seeing now (so bonds lose money). Huh, my bond funds are up this year, about 6.5% annualized (3.12% YTD). http://www.morningstar.com/funds/XNAS/VBMFX/quote.html You might want to rethink your assumptio...
by letsgobobby
Tue Jun 27, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Superfund Question
Replies: 7
Views: 462

Re: 529 Superfund Question

I do recall you posting at one point you also hold a prepaid 4 year college plan for each of your kids at State of Washington I did, but sold that 18 months ago and all of the money is now in stocks. It's interesting that the OP has a higher risk tolerance for retirement than for college, whereas I...
by letsgobobby
Tue Jun 27, 2017 11:11 am
Forum: Investing - Help with Personal Investments
Topic: (Almost) every day I make a financial mistake more costly than the day before
Replies: 39
Views: 3449

Re: (Almost) every day I make a financial mistake more costly than the day before

We have historically low interest rates (thankfully), only way for them to go is up, which we are seeing now (so bonds lose money). Huh, my bond funds are up this year, about 6.5% annualized (3.12% YTD). http://www.morningstar.com/funds/XNAS/VBMFX/quote.html You might want to rethink your assumptio...
by letsgobobby
Tue Jun 27, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: 529 Superfund Question
Replies: 7
Views: 462

Re: 529 Superfund Question

In most cases you can't carry forward any state tax benefits for 529 funding. For that reason investors often superfund minus the small amount that they hold back for future year contributions, in order to receive the state tax benefits. This doesn't apply in states with no income tax, or no 529 tax...
by letsgobobby
Tue Jun 27, 2017 10:54 am
Forum: Investing - Help with Personal Investments
Topic: (Almost) every day I make a financial mistake more costly than the day before
Replies: 39
Views: 3449

Re: (Almost) every day I make a financial mistake more costly than the day before

We have historically low interest rates (thankfully), only way for them to go is up, which we are seeing now (so bonds lose money). Huh, my bond funds are up this year, about 6.5% annualized (3.12% YTD). http://www.morningstar.com/funds/XNAS/VBMFX/quote.html You might want to rethink your assumptio...
by letsgobobby
Tue Jun 27, 2017 9:32 am
Forum: Personal Consumer Issues
Topic: Compelling Beneficiaries to Respond - Trust
Replies: 14
Views: 988

Re: Compelling Beneficiaries to Respond - Trust

Maybe they're consulting with an attorney about how to get even more money out of the guy. Look for a letter from a law office that indicates they do not agree to that settlement and want to see the will, or the trust, or plan to contest it, etc.

Or maybe they're sick.
by letsgobobby
Mon Jun 26, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

I would tread very carefully here. Bsteiner has some great points, but I would seek the advice of a good trusts and estate lawyer to run through the decanting issues. Some thoughts: 1. Is the interest vested? The Uniform Trust Decanting Act defines a "vested interest" as "a right to ...
by letsgobobby
Mon Jun 26, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

Not going to discuss any further why I and my sibling want to protect our very young children from creditors, etc. two or three decades from now. Suffice it to say we have very good reasons that my parents could not have forseen. Furthermore I do not have the aversion to perpetual trusts that some o...
by letsgobobby
Mon Jun 26, 2017 7:59 am
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

Yes, I see that there are two possibilities for the new trust. Bsteiner points out that the new trust could be either, or both (2 new trusts). Can this decanting process work in reverse? Say I have a trust which never terminates, and which the beneficiary never controls. Could a trustee decant that ...
by letsgobobby
Sun Jun 25, 2017 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

my wife's parent decided to distribute all assets out of the trust even before my wife turned 30. At that time, she had a post-graduate degree, a career, a house, a family, an estate plan of her own ... I couldn't have imagined anyone questioning her maturity. It was decided that the costs of maint...
by letsgobobby
Sun Jun 25, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

If my kids sue me in 20 years because they don't like the terms of the new trust, it will have confirmed that my decision to decant and place the assets in a new trust was a wise one. A price I'm willing to pay. Hmmm. :shock: Do you honestly believe that you have the only informed insight into what...
by letsgobobby
Sun Jun 25, 2017 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Full Insurance Picture
Replies: 10
Views: 645

Re: Full Insurance Picture

Probably not at this point, but remember in some cases your future earnings can also be at risk (I'm sure this depends on jurisdiction). We didn't have more than $1M umbrella until our assets were over $1M.
by letsgobobby
Sun Jun 25, 2017 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

Well, I must say this has been a real eye-opener for me. I'll make sure when I write my own trust not to include such an explicit statement where the trustee can "remove ALL of the assets" for the benefit of beneficiary without slapping some restrictions on just what type of requirements ...
by letsgobobby
Sun Jun 25, 2017 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

If the new trust gives them control (the right to become a trustee, the power to remove and replace their co-trustee (with someone not a close relative or subordinate employee) and the power to appoint (give or leave the trust assets to anyone they want (except themselves or their estates or credit...
by letsgobobby
Sun Jun 25, 2017 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

What is the point of a corporate co-trustee? Won't that just get the money invested in non-boglehead ways, at what we would regard as very high fees? I already use Vanguard as my corporate successor trustee. I trust Vanguard to invest passively and their fees are very reasonable. The reason I want ...
by letsgobobby
Sun Jun 25, 2017 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

Remember the terms of the trust allow me (the trustee) to remove ALL the assets at any time, for the benefit of the beneficiary. It seems I am following the trust's directions explicitly. Perhaps this decanting wouldn't be permitted if the terms of the trust prohibited drawing down all the assets?
by letsgobobby
Sun Jun 25, 2017 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

Ummm...wait a minute. Decanting so that the money can be kept out of their estates and protected from lawsuits is one thing. Keeping it out of their control so they can't make decisions you don't approve of is something else. Why do you think you need to control their financial decisions after age ...
by letsgobobby
Sun Jun 25, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

Re: irrevocable trust for children receiving an inheritance

My parents left a substantial inheritance to 4 minor grandchildren in an irrevocable trust. I am the trustee, and the trust offers quite a lot of flexibility, including the ability to withdraw all of the assets for the benefit of the beneficiaries. The problem is the trust terminates when the grand...
by letsgobobby
Sun Jun 25, 2017 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Full Insurance Picture
Replies: 10
Views: 645

Re: Full Insurance Picture

All, I posted a thread a few days back on life insurance and realized there was a gap in my disability insurance that I didn't realize I had until it was brought to my attention in that thread. Therefore, I was hoping to share my full insurance picture to see if there are any glaring gaps that I'm ...
by letsgobobby
Sun Jun 25, 2017 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 50
Views: 2836

irrevocable trust for children receiving an inheritance

My parents left a substantial inheritance to 4 minor grandchildren in an irrevocable trust. I am the trustee, and the trust offers quite a lot of flexibility, including the ability to withdraw all of the assets for the benefit of the beneficiaries. The problem is the trust terminates when the grandc...
by letsgobobby
Sat Jun 24, 2017 2:02 pm
Forum: Personal Consumer Issues
Topic: Stop saving and start spending
Replies: 63
Views: 7470

Re: Stop saving and start spending

the paradox is that if you are spending 150 and saving 175 and then only save 100 your spending is now 225. if you save only 50 your spending is now 275. spending more now impacts the relative progress you believe you've made. since you don't actually know your annual spending I would get a handle o...
by letsgobobby
Sat Jun 24, 2017 8:07 am
Forum: Personal Consumer Issues
Topic: Cars my only weakness, make me feel bad!!
Replies: 32
Views: 1936

Re: Cars my only weakness, make me feel bad!!

You haven't supplied your income or your savings so it's hard to say. On the surface you save $47,000 per year for retirement, $3600 per year for college, and gross less than $225k per year. If your income is $100k your car buying habits are pretty rich but then you're otherwise living a very frugal...
by letsgobobby
Sat Jun 24, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Can we/should we afford a $2M house?
Replies: 58
Views: 6785

Re: Can we/should we afford a $2M house?

My opinion is that these cases come down to stability of jobs and income. Are you a vascular surgeon, or a biglaw attorney, or a senior engineer at a tech company with generous RSUs? Ditto for your wife - assume she will want to quit working when kids are little - how easily can she take 5-8 years ...
by letsgobobby
Sat Jun 24, 2017 12:40 am
Forum: Investing - Theory, News & General
Topic: Treasury Direct - only one beneficiary allowed
Replies: 6
Views: 941

Re: Treasury Direct - only one beneficiary allowed

not only that but from what I can tell, I cannot register a bond jointly with my wife, and also name a beneficiary. There is room for only 2 names, in some combination. Primary owner plus beneficiary; Primary owner and secondary owner; but not primary owner with secondary owner plus 1 POD beneficiar...
by letsgobobby
Fri Jun 23, 2017 1:46 am
Forum: Personal Finance (Not Investing)
Topic: Best Sect 179 vehicle for personal/business
Replies: 3
Views: 381

Re: Best Sect 179 vehicle for personal/business

I just bought a new RAM 3500 megacab. A beast. 20 mpg diesel on the freeway. Quiet and comfortable and will pull a house and all its belongings and the dog too. Seats six. Very practical. Except for parking. I love it.
by letsgobobby
Thu Jun 22, 2017 8:27 am
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation - Inherited Assets, newly Semi-Retired
Replies: 12
Views: 1019

Re: Asset Allocation - Inherited Assets, newly Semi-Retired

it sounds like you have a sharp CPA. Sell the JNJ at least down to 10% or less of your portfolio.
by letsgobobby
Wed Jun 21, 2017 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Fund Parent's Trusts
Replies: 18
Views: 1785

Re: Fund Parent's Trusts

As a combined estate, they will currently exceed the federal estate tax limit of $5.45M as a combined estate by a small amount and the Illinois estate tax limit of $4M. We are also looking to avoid the $100K probate limit. Isn't the combined limit $11 million? It is the single limit which is $5.45M...
by letsgobobby
Wed Jun 21, 2017 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall inheritance and new home
Replies: 20
Views: 1615

Re: Windfall inheritance and new home

You have $2.6M in savings, and a $500k house, and something in 529s. Call it $3.25M. You say the windfall doubles your net worth. That's $6.5M. Where are others getting $9M from? Yes, I think you can take $400k from the $3M+ windfall and add it to your $500k equity and buy a $900k home. No problem. ...
by letsgobobby
Wed Jun 21, 2017 10:02 am
Forum: Personal Consumer Issues
Topic: Need quick Marriott Rewards
Replies: 15
Views: 700

Re: Need quick Marriott Rewards

a friend can also transfer you MR points for free. It's almost instantaneous.
by letsgobobby
Wed Jun 21, 2017 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Financial advisor question
Replies: 53
Views: 3771

Re: Financial advisor question

Although I am 5-8 years from retirement, I admit to being a relative novice. 20+ years ago, while a resident in training, I started using the services of a financial advisor because neither my husband or I wanted to spend our time keeping up with things. Now that I am likely within 5 years of going...
by letsgobobby
Wed Jun 21, 2017 8:04 am
Forum: Investing - Help with Personal Investments
Topic: Series EE US bonds of deceased
Replies: 7
Views: 507

Re: Series EE US bonds of deceased

It should be relatively easy in your case, because you have the bond. The thread in question was for electronic bonds or a search for unknown physical bonds.
by letsgobobby
Tue Jun 20, 2017 2:21 pm
Forum: Personal Consumer Issues
Topic: Help with Guns in Estate [how to sell]
Replies: 56
Views: 4353

Re: Help with Guns in Estate [how to sell]

Definitely state law dependent. I recently had to dispose of 3 firearms in Michigan. I called the police and asked them to come pick them up. Nice guy arrives, said it's a shame to get rid of these for nothing. Calls his hunting buddy who says I might get $300 for one at such and such gun shop, $200...
by letsgobobby
Tue Jun 20, 2017 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: 529 and taxable combo
Replies: 5
Views: 497

Re: 529 and taxable combo

Hi all, I'm thinking of starting a 529 and also a taxable investment for my child. 529 for obvious reasons but the taxable in case child doesn't go to college. If child doesn't go for higher education then this taxable fund would be considered for my retirement. Anybody else do something similar? W...
by letsgobobby
Mon Jun 19, 2017 11:48 pm
Forum: Personal Consumer Issues
Topic: Olympic NP and Mt Rainier NP
Replies: 18
Views: 1333

Re: Olympic NP and Mt Rainier NP

Want to add that another sight to see at Paradise is the Paradise Inn itself. I believe it turns 100 this summer. It's a beautiful place to have dinner, or just lunch and a beer on the patio or in the great room. Former superintendent of the park (Floyd Schmoe) wrote a wonderful book called "A ...
by letsgobobby
Mon Jun 19, 2017 4:08 pm
Forum: Personal Consumer Issues
Topic: Olympic NP and Mt Rainier NP
Replies: 18
Views: 1333

Re: Olympic NP and Mt Rainier NP

For both locations we had a wet and snowy winter. For example, I'm sure Sunrise at MRNP is still under 8-10 feet of snow. You can drive up there, but nothing will be open and other than messing around on the snow there won't be a lot to see... well, except for that big old mountain in your face! MRN...
by letsgobobby
Mon Jun 19, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

TIAA clarified that I have two options with the inherited IRA. The first is to "Stay in the Plan" which allows the account to stay in its current investment, retitles the account as Inherited IRA FBO letsgobobby, but does NOT require a spousal consent. The second is to rollover the inheri...
by letsgobobby
Mon Jun 19, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

TIAA clarified that I have two options with the inherited IRA. The first is to "Stay in the Plan" which allows the account to stay in its current investment, retitles the account as Inherited IRA FBO letsgobobby, but does NOT require a spousal consent. The second is to rollover the inherit...
by letsgobobby
Mon Jun 19, 2017 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Considering Larry portfolio for a portion of portfolio
Replies: 5
Views: 494

Considering Larry portfolio for a portion of portfolio

I am considering using a version of the Larry Portfolio for a discrete part of my portfolio. Why this portion is discrete and why I want to be conservative with it are immaterial, however it may be important to know this portfolio has absolutely no need for liquidity. I am thinking of replacing trea...
by letsgobobby
Sun Jun 18, 2017 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: How best to Donate?
Replies: 20
Views: 1235

Re: How best to Donate?

OP here: I appreciate everyone's input. Very valuable. I am early into this process, so my thoughts are still forming. It appears that there will have to be compromises given various objectives. My primary goals is to make sure that my wife and I have sufficient assets so that we can live comfortab...
by letsgobobby
Sun Jun 18, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: TreasuryDirect - death of account holder
Replies: 20
Views: 2059

Re: TreasuryDirect - death of account holder

Chase refused to sign but my credit union did. I've sent it in and we'll see if TD accepts.
by letsgobobby
Sat Jun 17, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16339

Re: Siblings in disagreement over mom's house.

A side note, but still on topic, is that when you work on your will you should never just leave a house or any other large asset to 5 kids. How and when it can be sold and proceeds divided should be clearly written in the will. My parents left me in charge of all asset disposal decisions and the ne...
by letsgobobby
Sat Jun 17, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16339

Re: Siblings in disagreement over mom's house.

The keepers NEVER apply any effort or money to the upkeep. Almost invariably they are the ones who are cash-short and sentiment-rich. Stop supporting them with either time or money. In my experience as a psychiatrist this is very wise advise. I have seen this situation many times. Ironically it is ...
by letsgobobby
Sat Jun 17, 2017 10:13 am
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

OK, this is a federal law governing 401k's. 401k's are different than IRAs. By law, the spouse will inherit at least half of the 401k regardless of what the owner states on the beneficiary form. Even if the owner states that a child should get the whole thing, the spouse is entitled to at least hal...
by letsgobobby
Sat Jun 17, 2017 8:56 am
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

In some (but not all) community property states, the income from separate property is community property. Along these lines, is there any straightforward way that the RMDs from these inherited IRAs can be maintained as separate property? I'm not sure. Perhaps this is a way. Instead of the beneficia...
by letsgobobby
Sat Jun 17, 2017 1:33 am
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

bsteiner wrote:In some (but not all) community property states, the income from separate property is community property.

Along these lines, is there any straightforward way that the RMDs from these inherited IRAs can be maintained as separate property?
by letsgobobby
Fri Jun 16, 2017 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 1892

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

The issue is not who is entitled, or who should be the default. The issue is the spouse has to provide written consent to relinquish her right to be the sole primary beneficiary, which applies in some ERISA cases but does not apply under my state law (as far as I can tell - again, IANAL) nor under f...

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