Search found 414 matches

by BarbK
Mon Feb 26, 2024 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Home Self Insure or Not
Replies: 74
Views: 10003

Re: Home Self Insure or Not

$11.1k: $373k dwelling/ 5% hurricane deductible / $100k personal liability $13.2k: $373k dwelling/ 2% hurricane deductible / $100k personal liability $100k personal liability is the most coverage that Citizens provides. Should I pick up more personal liability? If I change my garage door my insurance premium will drop $2k and new premium cost would be $9k. $9k: $373k dwelling/ 5% hurricane deductible / $100k personal liability. New hurricane garage door is about $3k. Makes sense to change garage door. I have 10 days to make a decision to self insure or not. Not sure what to do? My insurance carrier is also pricing just fire and general liability coverage incase I decide to self insure. If fire and general liability is some ridiculous amoun...
by BarbK
Thu Feb 22, 2024 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Home Self Insure or Not
Replies: 74
Views: 10003

Re: Home Self Insure or Not

$11.1k: $373k dwelling/ 5% hurricane deductible / $100k personal liability $13.2k: $373k dwelling/ 2% hurricane deductible / $100k personal liability $100k personal liability is the most coverage that Citizens provides. Should I pick up more personal liability? If I change my garage door my insurance premium will drop $2k and new premium cost would be $9k. $9k: $373k dwelling/ 5% hurricane deductible / $100k personal liability. New hurricane garage door is about $3k. Makes sense to change garage door. I have 10 days to make a decision to self insure or not. Not sure what to do? My insurance carrier is also pricing just fire and general liability coverage incase I decide to self insure. If fire and general liability is some ridiculous amoun...
by BarbK
Tue Feb 13, 2024 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of living parent's estate: which bucket first?
Replies: 17
Views: 1345

Re: Distribution of living parent's estate: which bucket first?

When your mom moves to AL, she should be able to deduct most of the monthly fees so taking it out of the IRA works best tax wise. My mom moved from IL to AL in the same facility; totally functional but also had dementia.
by BarbK
Tue Feb 06, 2024 11:00 am
Forum: Personal Finance (Not Investing)
Topic: 2023 Tax Year - First Big Roth Conversion - Triage Summary
Replies: 165
Views: 11174

Re: 2023 Tax Year - First Big Roth Conversion - Triage Summary

murrays wrote: Tue Feb 06, 2024 12:17 am .....
Does it help that TurboTax calculated our 2022 Effective Tax Rate as 17.85%? Curiously, it also says our "Tax Bracket" is 35%, but we didn't pay a penny over the 24% bracket.
I see this also; I think it is because of qualified dividends that are taxed much lower.
by BarbK
Tue Jan 23, 2024 7:01 pm
Forum: Personal Consumer Issues
Topic: Anyone dropped Uninsured Motorist coverage?
Replies: 29
Views: 2268

Re: Anyone dropped Uninsured Motorist coverage?

We are retired, live in Florida and have Progressive Insurance. When we received our auto renewal 6+ months ago, the liability and UM prices had caused our policy to increase to close to $1K for 6 months, one old car, no accidents or tickets. I got online quotes from other carriers and they weren't any lower. We had always had UM with multiple cars with stacking and up to 2M. As the price escalated, we dropped the stacking, and we are down to 1 car now. We dropped UM back in August. When I got our renewal for Feb '24, it went up a little but not enough to bother getting another quote. Make sure your miles driven is reflected correctly; we had never changed ours since my husband retired in 2015. Our Umbrella ($2M) also issued through Progres...
by BarbK
Mon Dec 04, 2023 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: 2024 Income Planning & 2026 IRMAA brackets
Replies: 23
Views: 10611

Re: 2024 Income Planning & 2026 IRMAA brackets

The finance buff has estimated the 1.4 Irmaa bracket for singles to be 132K-$165K with zero% inflation for 2025; and he has estimated the 2025 bracket to be <167K for 3% inflation.

To me it looks like you are safely in that bracket.
by BarbK
Sat Dec 02, 2023 8:28 am
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 945
Views: 150267

Re: Flaunt Your High-Mileage Car

There is a site I started on Facebook called Mileage Impossible where we talk and post about high mileage cars. I started it by my lonely old self during COVID and it now has over 220,000 members. Definitely one of my more successful projects. The only car I ever bought new, a red 1994 Toyota Camry coupe, is still on the road with around 400,000 miles. As for buying newer cars, I also created 48 Hours And A Used Car. A lot of folks want a 2016 or newer car with less than 60k miles and I seem to get a lot of folks who are long-term keepers. My favorite customers are those that buy nothing else for 10 years and give me 10 referrals. This thread seems to be loaded with those folks. Mileage Impossible is a great group on FB. Congrats for start...
by BarbK
Sat Nov 18, 2023 6:07 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

WestWorld1986 wrote: Fri Nov 17, 2023 5:45 pm
rich126 wrote: Fri Nov 17, 2023 5:14 pm I don't know why but I just seem like it is a fight to get your money back which is why I did not roll it into another MYGA.
This concerns me as well. I’m constantly worrying about the struggle that I might encounter once my MYGAs mature.
I have done 1035 exchanges and fully cashed out MYGAs and neither presented a problem or took very long. Actually, I was pleasantly surprised how easy it was to get my money.

My next two are due in May / June. One of them is an IRA which I plan to send back to the IRA. That was my first and only IRA MYGA.
The other in taxable will probably do a 1035 exchange depending on rates.
by BarbK
Sat Oct 07, 2023 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: options for helping support elderly parent
Replies: 25
Views: 2560

Re: options for helping support elderly parent

My mom did everything she could to sabotage moving into an independent living facility. What was the turning point was when her doctor told her she should no longer drive. Her monthly bills were also much more than her SS, and one of her objections was the cost of IL. I would show her how much her paid off house was costing compared to IL which was only $200 more a month.

The day she moved into IL, she had more activities than an entire month of living alone in her house. She made friends and adapted quickly and was happy the 6+ years she lived there. She stayed in IL for 3.5 years and then graduated to AL at the same facility.
by BarbK
Sat Sep 23, 2023 12:40 pm
Forum: Personal Investments
Topic: YTD investment income
Replies: 8
Views: 886

Re: YTD investment income

Go to Holdings, and instead of the summary default, choose Distribution Payouts, then you can select 2023 YTD. You will have columns for taxable and Non-Taxable
by BarbK
Wed Sep 20, 2023 8:48 pm
Forum: Personal Consumer Issues
Topic: South Carolina Vacation
Replies: 10
Views: 1520

Re: South Carolina Vacation

Kiawah Island is wonderful and not commercial or conjested. Big beaches with hard packed sand that you can ride bikes on. Lots of paved biking trails. We would stay there for a week over Thanksgiving. Not much on waves if that is what you are looking for. Drive to Charleston is about 45 minutes.

We did this every year from 2010 - 2015. The house we rented had bikes for use. Kiawah also has a public access before the gates if you decide just to visit for the day.
by BarbK
Tue Sep 19, 2023 2:08 pm
Forum: Personal Consumer Issues
Topic: Did you buy a Nectar mattress? How do you like it?
Replies: 16
Views: 2323

Re: Did you buy a Nectar mattress? How do you like it?

We bought the mattress plus the add-ons. We have had it for about 9 months and like it a lot. We had to air ours out for over a month before using it though. We ran fans on it to get rid of the chemical type smell.

We had a Sleep # before but needed new bladders. Of course Sleep# doesn't sell them and had to go with a 3rd party so bought the Nectar instead.

My daughter has a Purple mattress but we liked the Nectar better as it is more firm.
by BarbK
Mon Aug 28, 2023 1:50 pm
Forum: Personal Investments
Topic: Portfolio review for 91 year old widow
Replies: 25
Views: 2953

Re: Portfolio review for 91 year old widow

For replacing PONCX, there is also an institutional class, PIMIX with a .67 ER. Vanguard has it with a $25K min. Schwab has is with a really low min.
I didn't see it at Fidelity.
by BarbK
Tue Aug 22, 2023 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Help Annette Keep Working and Not Retire
Replies: 648
Views: 62238

Re: Help Annette Keep Working and Not Retire

In the beginning of the thread you said your expenses were $90K but now are saying that the last 3 years hovered around $40K. The difference was buying a car. So IMO it was misleading most of the thread with $90K as your expenses are really low.



Also, someone mentioned accounting for taxes, maybe so, but not that amount of taxes b/c most are related to salary.

How come you don't want to live / retire in your fully paid condo/apartment?

Finally, I don't see even with your high salary, that it will be possible to obtain $3M in 3 years starting with $1.5M and still owning your condo.
by BarbK
Fri Aug 04, 2023 10:48 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73631

Re: What is your total accumulation number, how did you come to it. No Judgements!

MrCheapo wrote: Thu Aug 03, 2023 11:33 am [... but our situation is different (no family safety net and our pensions may go under).
You do realize that with your assets, YOU WOULD BE THE SAFETY NET.

We retired at 50 (me), 58(husband) both due to layoffs and didn't bother looking for jobs. No pensions, No ACA subsidies. A large paid off house.
Going on Medicare was a huge decrease of monthly expenses even with pending IRMAA.
I started SS in November at 70 and my husband plans to delay until 70 also.
by BarbK
Mon Jul 31, 2023 7:55 pm
Forum: Personal Investments
Topic: Deferred Fixed Annuity Oh My!
Replies: 32
Views: 4210

Re: Deferred Fixed Annuity Oh My!

shelterinplace wrote: Mon Jul 31, 2023 2:25 pm .... Will it even be part of my Fidelity portfolio?

Thank you!
Yes, it shows up on your Summary and Asset page.

Perhaps the incentive is to get the $ out of the 401K. The MYGA probably has better interest than a stable value fund in the 401K.
by BarbK
Sun Jul 30, 2023 3:35 pm
Forum: Personal Investments
Topic: Retirement Portfolio
Replies: 28
Views: 2049

Re: Retirement Portfolio

Once you are retired, most of your after tax $ will be qualified dividends taxed at 15%. You may also want to consider moving the MM to a Muni Money Market or Muni Fund, then much of your qualified dividends will be taxed at 0 and if doing roth conversions those qualified dividends will be taxed at 15%.
by BarbK
Sat Jul 29, 2023 10:03 am
Forum: Personal Investments
Topic: Deferred Fixed Annuity Oh My!
Replies: 32
Views: 4210

Re: Deferred Fixed Annuity Oh My!

If you decide to go that route, Fidelity only does MYGAs with A+ or A++ companies so very unlikely that you would need to depend on the state guarantee fund for protection.
by BarbK
Sat Jul 29, 2023 9:50 am
Forum: Personal Consumer Issues
Topic: Best Purchase < $1000?
Replies: 231
Views: 28456

Re: Best Purchase < $1000?

Poolvergnuegen - automatic pool cleaner, by far the best pool cleaner I have owned.
Vitamix - blender
Earthboxes - $30 each when I bought them, I have a lot.
by BarbK
Mon Jul 24, 2023 7:33 am
Forum: Personal Finance (Not Investing)
Topic: 90yo stepfather developed gambling problem
Replies: 75
Views: 5611

Re: 90yo stepfather developed gambling problem

My mom did everything to sabotage moving from her house into independent living facility. But once she unable to drive (Drs recommendation) she willingly moved. The afternoon of the day she moved in she had more activities than living alone in her house for an entire month. Plus, every meal she had people to eat with and made friends.

Sounds like he is really lonely.
by BarbK
Fri Jul 21, 2023 3:20 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

My first MYGA is coming due after 3 years. I got a letter from North American. Apparently I have 30 days after the anniversary date to decide what to do with it. The date isn't until the end of August and then I have 30 days. My plan is to move it over to Fidelity and it will be used as money to hold us over until social security kicks in for me in 10 years. Looking back it ended up being a bad investment number wise since the rate is so low but compared to what other things were paying it was better than those. I have another one coming due next February. Hopefully this one goes smoothly and I can do this online. Even if the rate to renew it was good I'd probably pass on it since I don't like not being in control of my money. The surrende...
by BarbK
Fri Jul 21, 2023 9:09 am
Forum: Personal Consumer Issues
Topic: 25 Year old GE Profile Oven - repair or replace?
Replies: 21
Views: 1682

Re: 25 Year old GE Profile Oven - repair or replace?

I have 2 GE Profile Ovens and the display stopped working on both. I had the boards replaced on both ovens for about $500 about 10 years ago and they are still working. I watched what the repair person did so I could always swap out the boards since we only use one oven.

I also couldn't find anything that fit into my space. Same goes with my GE Profile Fridge.

Those old GE Profile series were build well.
by BarbK
Thu Jul 20, 2023 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Florida insurance options
Replies: 123
Views: 15720

Re: Florida insurance options

I have lived in Florida for 70 years, the first 18 years on the east coast, 52 years and counting on the west coast. We never have lived on or near the water. My childhood home had storm shutters, our current home has hurricane windows/heavy duty braced garage door. We have never evacuated for any storm, or had any of our homes suffer hurricane damage, though we have lost power. We have an emergency generator with a transfer switch we can fire up when necessary. Unlike wildfires, tornadoes, earthquakes, flash floods; hurricanes DO NOT sneak up on you. Broken Man 1999 You make a great point. Sometimes I want to move to a place without violent weather but the others are much worse. Except for water from storm surges, most damage IMO is due t...
by BarbK
Thu Jul 20, 2023 6:20 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

I chose to early-surrender a Gainbridge policy in my taxable account, because paying the surrender charge and MVA and reinvesting in my money market account was a profitable trade. I called Gainbridge on Monday morning and the funds were in my checking account this morning. Three days from initial phone call to cash available. I’ve had several interactions with Gainbridge, all of them very favorable. And their current interest rates are pretty attractive too. That's crazy that even with paying the surrender charges, that a MM beats it. ===== Have a MYGA with NYL that was issued via Fidelity. It is within a few weeks of maturing and we will be away for a month during that time. I called Fidelity and the person said we were in the 30 day win...
by BarbK
Thu Jul 20, 2023 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Florida insurance options
Replies: 123
Views: 15720

Re: Florida insurance options

smitcat wrote: Thu Jul 20, 2023 12:56 pm ... (3) in Oct 2024 the largest problem with home insurance costs in Fl will get addressed when the lawsuit bill that has been passed will become active.
What is this bill?

I thought the law changed sometime in 2021-2022 that the roofers couldn't solicit for 'free' roofs due to hail. Yet once again, I am getting flyers in the US Mail telling me I can get a new roof for hail damage. We didn't even have hail in April/May; only a very limited part of the county did.

When we did get hail back in March 2019, I knew someone that got a free roof in August of 2021. When we mentioned the hail to him when it happened, he said 'what hail' but of course he was on the sue bandwagon and got a near free roof over 2 years later.
by BarbK
Mon Jul 17, 2023 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Florida insurance options
Replies: 123
Views: 15720

Re: Florida insurance options

We dropped wind coverage in January 2021, but this year when our policy (fire, water, liability) was up for renewal, they were going to cancel us because they thought the water heater was over 10 years old. It is in the garage so I really don't see what damage it would do if it leaked. It had been replaced 2 years before so just had to send them proof via pictures. For the person who pays $10K for flood insurance, isn't the max coverage $250K? I dropped Flood several years after TS Faye dumped 25 inches of rain and my house didn't flood. When Allstate dropped us in 2005, the alternative company they recommended THEN was over $10K. We switched and after several years went with the 10% hurricane deductible ($70K) until in 2021 we dropped wind...
by BarbK
Wed Jul 12, 2023 10:27 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

I am looking into a Mass Mutual MYGA of 3 yrs at 4.9% for $100k at Schwab. Yes the rate is less than at Canvas but maybe with less glitches. My first Annuity, I am hoping things to go well. I took a withdrawal from MM in late spring and it was flawless. Emailed documents over the weekend and direct deposit to my checking account on Thursday. So far, withdrawing $ or surrendering the policy has been much quicker than I expected. I can list the companies if anyone is interested. It would be nice for us to know which are these prompt insurers. Full Surrender for cash direct deposit to my checking account: Symmetra (<1 week including snail mail the w/d form), AGI (about 2 weeks) Partial Withdraw of $ from Mass Mutual - < 1 week; emailed forms ...
by BarbK
Wed Jul 12, 2023 8:42 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

Rajsx wrote: Wed Jul 12, 2023 4:37 pm I am looking into a Mass Mutual MYGA of 3 yrs at 4.9% for $100k at Schwab. Yes the rate is less than at Canvas but maybe with less glitches. My first Annuity, I am hoping things to go well.
I took a withdrawal from MM in late spring and it was flawless. Emailed documents over the weekend and direct deposit to my checking account on Thursday.

So far, withdrawing $ or surrendering the policy has been much quicker than I expected. I can list the companies if anyone is interested.
by BarbK
Thu Jul 06, 2023 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: To self insure or not?
Replies: 47
Views: 5040

Re: To self insure or not?

I live in Ocala, Florida. Ocala is located in North Central Florida. I recently received my property insurance renewal, and it was double the amount from the previous year for a total of $11,000. My house is paid for and was built in 1995. The square footage is 3000 ft.², I’m not in a flood zone. I am considering self insuring. My cost replacement is $700,000. I carry sinkhole coverage, although there have been no sinkholes in our area since I’ve lived here for over 20 years. I carry hurricane coverage, but we’ve never had hurricane force winds, since we are in the center of the state. I have assets enough to cover repairs. Do you think I should stay insured and maybe drop my hurricane and sinkhole coverage? That would bring the cost to ap...
by BarbK
Tue Jul 04, 2023 9:01 am
Forum: Personal Consumer Issues
Topic: Recommended AppleTV+ Shows
Replies: 48
Views: 3443

Re: Recommended AppleTV+ Shows

TomatoTomahto wrote: Tue Jul 04, 2023 8:39 am
OuterBanks wrote: Tue Jul 04, 2023 8:16 am
Mr Grumpy wrote: Tue Jul 04, 2023 7:12 am Hijack(so far) . Liked season 1 of Ted Lasso-I wish I had skipped season 2 and all of season 3 except for the last episode.
Hijack is so amazing. I can see why the star may be the next James Bond actor.
2 episodes into Hijack. Usually shows like this are stupid, but this one isn’t an insult to intelligence. I hope this quality continues.
The 3rd episode was excellent. Unfortunately it looks like one a week now.
by BarbK
Wed Jun 14, 2023 6:34 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

petulant wrote: Wed Jun 14, 2023 6:26 pm
BarbK wrote: Wed Jun 14, 2023 6:19 pm
tj wrote: Wed Jun 14, 2023 5:50 pm
petulant wrote: Wed Jun 14, 2023 2:13 pm How does Fidelity report MYGA value on statements? Historical cost, surrender value, or...?
I'm assuming not at all. I assume that you would just get an annual statement from the insurance company that they brokered the annuity from.
I have a couple of MYGAs from Fidelity and they appear (in updated $) on the Summary Page and Positions. You do get a yearly statement from the insurance company. I just checked my statements, and they are listed there in updated $ also.
What do you mean updated $? As in, the original cost plus accrued interest, or is it net of surrender charges?
Yes, original cost plus accrued interest.
by BarbK
Wed Jun 14, 2023 6:19 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

tj wrote: Wed Jun 14, 2023 5:50 pm
petulant wrote: Wed Jun 14, 2023 2:13 pm How does Fidelity report MYGA value on statements? Historical cost, surrender value, or...?
I'm assuming not at all. I assume that you would just get an annual statement from the insurance company that they brokered the annuity from.
I have a couple of MYGAs from Fidelity and they appear (in updated $) on the Summary Page and Positions. You do get a yearly statement from the insurance company. I just checked my statements, and they are listed there in updated $ also.
by BarbK
Sat Jun 10, 2023 4:34 pm
Forum: Personal Investments
Topic: Rolling Taxable Account into Roth
Replies: 9
Views: 922

Re: Rolling Taxable Account into Roth

Waldcayut wrote: Sat Jun 10, 2023 2:13 pm ........ it’s McDonald’s haha no clue why.
I found this very sweet. I wouldn't be surprised if your grandparents took you to McDonalds when you were young and bought you shares to teach you about 'owning' a company.
by BarbK
Tue May 30, 2023 9:42 am
Forum: Personal Investments
Topic: TDAmeritrade account didnt migrate to Schwab. [Resolved]
Replies: 29
Views: 4716

Re: TDAmeritrade account didnt migrate to Schwab.

Maybe the issue is for people that already had Schwab and TDA.

I created a Schwab login via the request on the conversion Email. Everything looks like it transferred OK, I just tried logging onto TDA and it said my account was waiting for me at Schwab.
by BarbK
Sun May 28, 2023 8:15 am
Forum: Personal Consumer Issues
Topic: Attaching a Mesh Bag to a stationary object?
Replies: 18
Views: 2132

Re: Attaching a Mesh Bag to a stationary object?

Loop the handle over a coat hanger.
by BarbK
Sat May 13, 2023 5:04 pm
Forum: Personal Investments
Topic: Help with Best Asset Mix for 93 year old Mom-Tax issue in 2023
Replies: 8
Views: 988

Re: Help with Best Asset Mix for 93 year old Mom-Tax issue in 2023

On the house sale, I assume at some point there was a husband and it was jointly owned. Did he die? Since she is single now, if he died within the last two years she would get the entire $500K exclusion vs $250K. Also, if jointly owned, she would get a 50% step up basis from when he died.
by BarbK
Tue May 09, 2023 8:24 am
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

Has anyone made an allowed 10% withdrawal from an MYGA in an IRA account back to the IRA? Was it worth the hassle? Reason to do this is MYGA was set up in 2021 when rates were much lower. It's only 3 years so just one year left but getting 10% out now, and again in the beginning of year 3. I haven’t. Maybe others have. Give it a try and report back if you’re successful. :D I didn't do the withdrawal from the IRA, but withdrew from a low interest rate Mass Mutual MYGA that has had several 1035 exchanges so anything out will be interest and taxable. Anyway, I submitted the forms via email attachment on May 4th and the $ was in my checking account May 8th. (The 6th and 7th were the weekend). Most of the $ was for paying Q2 estimated taxes, bu...
by BarbK
Sun Apr 30, 2023 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Private school..not sure about if we are thinking correctly
Replies: 134
Views: 12607

Re: Private school..not sure about if we are thinking correctly

...... 4. We feel we are fish out of water with some Of the other parents who are big shots, come from ancestral wealth and while we are very good in our social skills, we still feel we often get left out in the smaller 1:1 play dates that are mostly driven by the parents wanting to know each other. This is a small issue again as we hope that the demographic will change starting middle school. ..... Why do you think the demographic will change in middle school? I hope your child doesn't notice s/he is being left out in the 1:1 play dates. Since the forum is anonymous, why not discuss your true reason for choosing that school. When your child graduates from college and is interviewing for their first job, no one is going to ask where they w...
by BarbK
Sat Apr 29, 2023 7:13 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

Has anyone made an allowed 10% withdrawal from an MYGA in an IRA account back to the IRA? Was it worth the hassle?

Reason to do this is MYGA was set up in 2021 when rates were much lower. It's only 3 years so just one year left but getting 10% out now, and again in the beginning of year 3.
by BarbK
Tue Apr 04, 2023 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my mortgage and go uninsured?
Replies: 81
Views: 7650

Re: Should I pay off my mortgage and go uninsured?

Is it possible to insure the home without the windstorm coverage? Paying off the mortgage seems like an OK idea if that's possible. I wouldn't go without insurance at all as that will generally cover other things like a fire. How secure are you financially that you can withstand a rebuild of your home? If the home is a large part of your net worth, than I'd say you probably aren't in a position to just ignore insurance all together. Yes, also live in Florida with insane insurance. We have everything (fire, theft, liability) except wind for $1700 with the increased rates. This is our 3rd year without wind coverage. When they exclude wind from the policy, it is all wind (tornados) not just named storm wind. They also exclude hail. The first ...
by BarbK
Wed Mar 08, 2023 8:19 am
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

Thank you for the replies. I opened an account on Sagicor and noticed that they use a separate form for direct deposit. In 2022, I fully withdrew 2 matured MYGAs and was pleasantly surprised how 'fast' I got the $. Both required mailing in forms, but were direct deposit and withheld federal taxes. Plus all the 1099s I received were correct. Insurance company was Synergy - 6 days including July 4th holiday. AIG - a little longer but acceptable. Also cashed out a life insurance policy Genworth which was the longest about 2-3 weeks. ------------ My plan is to withdraw quarterly federal taxes from MassMutual; all funds will be taxed since it has been 1035 exchanged several times. It is only a 3 year policy and matures in 2024. Then Sagicor is m...
by BarbK
Tue Mar 07, 2023 12:12 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2224
Views: 286955

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

Stinky - I have 2 MYGAs opened in 2021 - one at Mass Mutual that has been 1035 exchanged several times (via Fidelity) and one at Sagicor Life - via Blueprint. On Sagicor, I plan to withdraw the 10% penalty free amount.

For both, I have found the withdrawal forms online. Is is OK to just complete the forms and mail them to the Insurance Company vs opening up accounts at the vendor?

Also, on the Sagicor form, there is no indication of how the money will be received. Do they actually mail a check?
by BarbK
Tue Mar 07, 2023 11:48 am
Forum: Personal Investments
Topic: Redeem and move a CD earning 2% ?
Replies: 23
Views: 2134

Re: Redeem and move a CD earning 2% ?

For sure, plus the penalty is tax deductible.

Here is a link for you to test for yourself:https://www.depositaccounts.com/tools/b ... lator.aspx
by BarbK
Fri Feb 03, 2023 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Non Qualified Annuity Withdrawal - Taxes?
Replies: 9
Views: 735

Re: Non Qualified Annuity Withdrawal - Taxes?

Annuities are taxed at your ordinary income tax rate. In addition to the taxes there is a 10% penalty. Is that included in the calculation? https://www.investopedia.com/ask/answers/082715/how-are-nonqualified-variable-annuities-taxed.asp#:~:text=Nonqualified%20variable%20annuities%20don't,be%20taxed%20as%20ordinary%20income. Thanks, I've come to terms with that. The 1099 says the entire $6,000 is taxable. How can that be -- most of that should be principal since we've earned next to nothing on this worthless "investment". In theory, could we question this with the insurance company we purchased it through? Was the annuity value $66000 before you withdrew the $6K? If so, the entire $6K is taxable as the interest comes out first. I...
by BarbK
Sat Jan 28, 2023 12:33 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime membership increase to $139
Replies: 274
Views: 26840

Re: Amazon Prime membership increase to $139

We dropped Amazon in August when our membership was up for renewal. We had purchased a few Kindle Readers over the year (get 3 months free but never used it). After the free trial, no notification and didn't notice we were being charged for a few months. That did it for us.

Also, another thing I didn't notice since not being a prime member is that you do get any points for using their Amazon CC and it defaults to it.

Now everytime we go to checkout, they prompt for a student prime membership. We are many decades past being eligible for a student membership.
by BarbK
Fri Jan 27, 2023 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Interesting re: SS withholding
Replies: 2
Views: 618

Re: Interesting re: SS withholding

I have a November birthday, received my first SS deposit late December and my 2nd one this week. I have yet to receive the reimbursement for the 2 months of Medicare paid in October.

I didn't know that they withhold taxes on the reimbursement either. I withheld the max, 22%
by BarbK
Wed Dec 07, 2022 11:51 pm
Forum: Personal Investments
Topic: What IRMAA bracket estimate are you using for 2024?
Replies: 27
Views: 25263

Re: What IRMAA bracket estimate are you using for 2024?

I am using the 0 future inflation for 2024. For my hedge against missed oversights, I am not deducting the 3K of losses. Right now have done enough Roth conversions to top out the No IRMAA ($204K MFJ) but plan to go to $256K.
by BarbK
Mon Nov 14, 2022 8:32 am
Forum: Personal Consumer Issues
Topic: Suspected slab leak in laundry room area...
Replies: 35
Views: 3331

Re: Suspected slab leak in laundry room area...

That is a lot of water. Make sure no one in the house is using the water, doing dishes or washing machine and check your meter to see if it is moving.

I've had a slab leak and there was no evidence of water other than a HUGE water bill. Once I learned of the slab leak, I kept the water turned off from the outside and did the dishes, showers, wash over the same period in the day. Thoughout the day, we would turn on the water to flush the toilets - we have 4. I had a full repipe done and glad I did.

I previously had copper pipe leaks and tiny tiny pin hole leaks spray a lot of water.
by BarbK
Sun Oct 02, 2022 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Florida Insurance and Hurricanes
Replies: 76
Views: 9235

Re: Florida Insurance and Hurricanes

howard71 wrote: Sun Oct 02, 2022 2:12 pm
BarbK wrote: Sun Oct 02, 2022 1:15 pm
bberris wrote: Sun Oct 02, 2022 7:42 am
howard71 wrote: Wed Sep 28, 2022 12:39 pm Just renewed my policy with People's Trust in Pinellas County. It was up a little bit (about $1400).

Been with them for over 10 years and have never had to shop around. I'm expecting that is about to change.
That's about what I pay in Minnesota. Hurricanes hardly ever hit here.
I think he/she meant her increase was $1400, not her entire premium.
No, I meant the entire premium.
Wow - That is an excellent rate.
by BarbK
Sun Oct 02, 2022 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Florida Insurance and Hurricanes
Replies: 76
Views: 9235

Re: Florida Insurance and Hurricanes

bberris wrote: Sun Oct 02, 2022 7:42 am
howard71 wrote: Wed Sep 28, 2022 12:39 pm Just renewed my policy with People's Trust in Pinellas County. It was up a little bit (about $1400).

Been with them for over 10 years and have never had to shop around. I'm expecting that is about to change.
That's about what I pay in Minnesota. Hurricanes hardly ever hit here.
I think he/she meant her increase was $1400, not her entire premium.