Bogleheads.org

I see others with the same problem on Facebook: https://m.facebook.com/story.php?story_ ... 8726828894

BogleMelon wrote: ↑Mon Mar 20, 2023 2:29 pm For reasons like these I never buy, trade-in phones from carriers. Actually I don't deal with big carriers (invoice style) either. I do Prepaid (US Mobile), and buy phones directly from Apple. Simple, clean transactions. And saves tons of money (paying $30/mo for 2 lines vs big name carrier rate which would be close to $100/mo)

Smart. How is the phone service? Does it work In Europe?

CalcHP12c wrote: ↑Mon Mar 20, 2023 2:00 pm Similar experience. It was the local store manager that seemed to have the power and conveniently forgot a few times. Received our credits but not without diligent follow through.

Very frustrating waste of time!

In December I traded in 2 iPhones with T-mobile’s trade in offer. To do so, you needed to pay for the phone in installments. I was to get an installment credit of $8.95 a month per phone. However, it was only applied to one phone. I contacted T-Mobile and after a hour of texting back and forth, they agreed to apply the monthly promotion credit to my account but they never did. I contacted them again and wasted another hour since they have no record of my past call but they are still not fixing the issue. At this point I feel like I got scammed by T-Mobile and their terrible customer service. I see I’m not the only one: https://community.t-mobile.com/accounts-services-4/tmobile-trade-in-is-scam-47544 So if you’re trading in your phone, don’t...

Treasury money market funds.

muffins14 wrote: ↑Sat Mar 18, 2023 2:36 pm They could already be retired and 59+

But still subject to income tax.

Why house money in an Ira account? You can’t take out $500,000 all at once without a huge tax hit.

What I did was send an email to the dentist office with the prices to confirm. I did this because I’ve been previously blatantly lied to about dental fees for basic service twice in the past.

I just asked my dentist and they said that I would need to call Aetna. She thought the fee would be around $125 for cleaning and exam instead of their usual $295.

WONFIRE wrote: ↑Wed Mar 15, 2023 9:46 am

Freeadvice wrote: ↑Wed Mar 15, 2023 8:11 am Best IRA transfer bonus to transfer $250,000?
anything beat this $1,000 offer?https://www.merrilledge.com/offers/pr1000

The Wells Fargo premier offer is $2500 for $250k deposit. People a few posts earlier said that IRA works for the 250k requirement. I plan on trying it later this week as the offer expires April 1

Thanks WONFIRE! I didn’t realize it included IRA balances. Great offer!

I sold something on eBay for $700 (no returns) but the buyer changed his mind and returned it. I received it back damaged and eBay sided with the buyer and charged my Amex $700. I disputed the charge with AmEx and won the dispute and the charge was reversed. How long has it been? I would have assumed the debt would have been sent to collections in such a scenario, but I'm curious more than anything if a credit card can actually offer seller protection Happened in November. They suspended the account and still have it as owed but as far as I’m concerned the credit card decision is binding. Let collections knock themselves out. eBay has sent collections after me but I’m not caving in to their extortion for the $700. My credit score was somet...

I’m pleased that SECURE 2.0 allows for Roth SEPs in 2023. But I do not have a SEP! Spouse has one in his single member llc. in NY. What is the best way for my spouse to include me in his business so that we an open a spousal SEP? Form a qualified joint venture? Income is variable but around $200,000-$300,000. Any ideas welcome!

Best IRA transfer bonus to transfer $250,000?
anything beat this $1,000 offer?https://www.merrilledge.com/offers/pr1000

He likely did better than all the rest of us. But, yes. Now is the time to Derisi and go for treasuries.

Have you considered a pooled income trust?

Just make sure you won’t need to break the cd to get liquid to take the rmd amount.

And to get back to the original question: There is no official unlimited guarantee of deposits. Unlimited deposit guarantees were announced only for Silicon Valley Bank and Signature Bank. This precedent indeed makes it seem very likely that other depositors would receive similar unlimited protection but that falls short of a guarantee to do so. The SIPC only guarantees against the loss of the securities themselves, not a drop in value. Such losses are very rare anyway. Money markets are required to hold only very short term securities. Thus they have very little risk of losses from interest rate increases, which seem to have partially reversed now anyway. But do you need to have lots of cash in the brokerage account anyway? Thanks for wei...

You received a 1099 and need to report that amount. Done.

If the 1099 shows $750 then why would you be responsible for more that that? Why did probate take 10 years?

Thank you all - I'm inclined to propose the 40/60 or 50/50 plan to my brother and listen to his advisor's pitch (I did not want to even speak to him because I don't enjoy listening to fast-talking financial advisors, but trying to maintain family peace). How would you convince a non-Index Fund believer, that this is the most efficient investment? I plan to link the Stock performance and portfolio holdings from the Schwab site. Reducing their equity allocation to 40% and holding US equity only is reasonable in my opinion. The 40% equity + contributing excess monthly income will help the portfolio keep up with inflation. Hold SWTSX (US TSM) in the two Roth accounts + $75k of the Taxable to get to 40% equity. Simplify and reduce investment co...

It was in private for 10 years? Or was that 2011 date of death a typo?

Resurrected thread. If someone has a treasury at a lower rate, but can buy the same (6 month treasury) for a higher rate...what are the pitfalls? Engage with the fact that there is no liability matching and someone would buy "zeros" at whatever rate is highest. Is there a lost benefit from not getting the discount plus whatever interest you get before six months? If you can sell it for higher than purchase. Or, for the sake of argument, you could get a full 100 basis points higher in yield for the ensuing 6 months. Would that make sense to sell and then buy? Again, some awesome bogleheads in the thread have just said hold onto them (especially at shorter term maturities). Without knowing specifics, has anyone engaged in this over...

Move Thomas Partners account to Schwab. Schwab intelligent portfolio is already in index funds. New money goes to Treasuries.

I can't figure out if OP thinks the mistake was buying something that went down (we all do that from time to time) or putting bonds in taxable. Neither of those is a mistake. Since the bonds took a small loss, that can be written off against your income or future capital gains. To "harvest" that loss without creating a wash sale, you need to buy something different with the money. I used Vanguard's Intermediate bonds as a tax loss partner for BND for instance. Some folks may benefit from avoiding bonds in taxable to be able to get ACA premium credits or whatnot, but in general, there is nothing wrong with holding bonds in taxable. Some folks advocate for bonds in tax deferred and stocks in Roth/taxable in the name of tax efficien...

IsabellaH555 wrote: ↑Sun Mar 05, 2023 7:14 pm Thanks for your response.
I’m sure my husband knows that his capital gains are taxable, but I’ll show him your post, and I know he appreciates all advice here,

Isabella

Is your husband doing the taxes?

Isabella, a sale of $1.7 million worth of stocks will have some capital gains taxes due. This is reported to the IRS and they will expect their cut. Has your tax advisor explained this?What does your 1099 say?

Also, you'll probably be charged an account closure fee around $95 per account. Yeah, it's highway robbery but you'll be so happy you are out of EJ. Moving from EJ to Fidelity is very likely an excellent choice. But why would an account closure fee of $95 be considered highway robbery? I have used several brokerages and all of them, most who are considered a “discount” or “low cost” brokerage have had a fee of at least $75 for a full transfer. Or are you just expressing an opinion about the industry as a whole? No. That account closure fee is on top of the 1% or more AUM. If you’re charging me $10,000 a year, don’t nickel and dime me to squeeze an additional $95. I wouldn’t mind paying it to Fidelity or Schwab but they probably don’t even ...

What was the source of funds to the joint account of wife and brother? I don’t know if your wife moving her money from one joint account to her other joint another is considered a gift. Is this set up an effort in estate planning or an effort in Medicaid planning?

IsabellaH555 wrote: ↑Fri Mar 03, 2023 7:05 pm Yes, we are getting very good assistance with our tax returns.

Isabella

That’s good to hear! How much capital gains tax will you owe on the sale of your portfolio?

I’ve never bought Tips so your post is a good reminder to me to learn about them and buy with my cash reserves. What is the thinking on what percentage of a portfolio to hold in tips now?

Maybe she could buy your rental from you.

Thanks Petulant. I’ll get rid of it and be done!

Thank you both! He does not need this $100,000 policy. It shows annual insurance cost is $61. So I think what I’m hearing is that the in force illustration will likely show this policy is not worth keeping so maybe not worth the trouble of asking for the in force illustration? He does have another term policy for $500,000 with annual premiums of $360 which we don’t really need either but have kept because of the low premiums.

Thank you both! He is very healthy but maybe I’ll wait until his upcoming check up! How do we tell that the policy will lapse in a few years? Hard to dump after paying for 30 years but seems like a lousy investment.

Husband (age 54) has had an Equitable Flexible Premium Variable Life Ins policy for past 30 years.
Face amount: $100,000
Annual premium: $200
Account value: $2,224
I’m guessing that this is not a good investment.
Keep or dump:?:

How would that be fewer accounts to manage? There would still be 4 accounts. You coul roll the iras into the solo401ks.

earlyout wrote: ↑Tue Feb 28, 2023 9:08 am The last time I asked, Schwab told me they do not have just ATM cards for Schwab Bank. Is that still true or have they started to issue ATM only cards?

Thanks.

Good question. I have one from Chase. For now, I’m keeping my banking separate from brokerage.

I’m against debit cards because they can provide thieves direct access to my account. ATM-only card and a credit card for me.

TwstdSista wrote: ↑Tue Feb 28, 2023 3:32 am

Freeadvice wrote: ↑Sun Feb 26, 2023 1:52 pm Thanks MP. This thread has terrified me. I could see me dying and spouse forgetting to file a form and getting clipped by the new IRS force. Instead, maybe I do a joint venture with spouse and open my own SEP account. Not sure what the downside is to that.

I remind my husband and both of our sisters about Form 5500ez at least yearly. It's also listed in our "if we die" paperwork. And anecdotal evidence seems to say that the penalty can be waived by the IRS. As a result, I personally think the benefits to a solo 401k are worth it.

I would need to remind my husband and sisters yearly too. That’s why I worry if I’m not around to remind them that it won’t get done.

Loandapper wrote: ↑Tue Feb 28, 2023 5:23 am What you are describing is a legitimate health issue. Visit your primary care provider or a psychologist to obtain the paperwork needed for a 3-month FMLA leave. Do it today. Revisit your work situation at the end of your leave.

Good advice. Will buy you some time vs quitting. You can look for another position while still employed.

I have done it twice. Life is short and your health is your most valuable asset.

I’ve used the Facebook local buy nothing group and have given away all sorts of random things. People come pick up the stuff right away.

Quiet quit

erishera wrote: ↑Sun Feb 26, 2023 9:10 pm I am trying to understand why you would want to do anything other than sit tight and keep paying the 4K. I'd make sure the call option is in writing.

Thinks he’s not getting “any ownership” benefits which I disagree with. He has the benefit of living there.

Or treasury only mm

Fidelity CMA for checking (pay check direct deposit, mortgage and CC payments). Cash earns over 4%. I have a BoA checking if I ever need physical bank services. I'm always confused about Fidelity. It's not an actual bank, is it? At Schwab there is a separate entity called Charles Schwab Bank. I looked at my Fidelity account where I set up a brokerage account to receive the 2% cash back I get on my Fidelity (Elan) Visa. It seems the cash is in SPAXX (Fidelity government money market) and the 7 day yield is listed as 3.96%. I can't tell if there are fees. How can I get more than 4%? And to the OPs question, I have used a local credit union for many years. I also have some excess cash at Ally Bank for higher interest. The bill pay feature at ...

Agree. I’d rather have something idiot proof.

Thanks MP. This thread has terrified me. I could see me dying and spouse forgetting to file a form and getting clipped by the new IRS force. Instead, maybe I do a joint venture with spouse and open my own SEP account. Not sure what the downside is to that.

DIFAR31 wrote: ↑Sun Feb 26, 2023 1:29 pm

cchrissyy wrote: ↑Sun Feb 26, 2023 1:21 pm

Freeadvice wrote: ↑Sun Feb 26, 2023 12:55 pm The son gets the Dad’s cost basis. Gifts do not qualify for a step up.

maybe you didn't see that part of the OP's share in the property was a gift but another share of property came to them later as inheritance.

It's not at all clear (at least to me) how OP acquired the land. This post from OP doesn't help: "He deeded the land to us so we became owners when he passed away."

Which would only be the case if the land was held in a particular type of trust which op said it was not.

cchrissyy wrote: ↑Sun Feb 26, 2023 1:21 pm

Freeadvice wrote: ↑Sun Feb 26, 2023 12:55 pm The son gets the Dad’s cost basis. Gifts do not qualify for a step up.

maybe you didn't see that part of the OP's share in the property was a gift but another share of property came to them later as inheritance.

I don’t think so. OP’s dad inherited 1/2 of the property and then gifted his half to his three sons.