Search found 656 matches

by imagardener
Sat Feb 20, 2016 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Bequests to nieces nephews of loyal opposition
Replies: 12
Views: 1651

Bequests to nieces nephews of loyal opposition

In a nutshell: should aunts and uncles leave equal bequests to blood relatives that have opposite world views? Facebook is the way we stay in touch with our age 30-something nieces and nephews. We are childless 60-somethings, and we know their political leanings and they know ours and we are 180 degrees opposite with perhaps 2 exceptions. No doubt our occasional FB political "likes" annoy them as much as theirs do us but we remain close and never discuss politics or religion in person. Do Bogleheads think a relatives world view should have effect on bequests? Has it had any effect on your will? Parents will support their children no matter what but an aunt/uncle has some leeway IMO. At this time will/trust is divided equally but i...
by imagardener
Tue Dec 31, 2013 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: 10 year plan-secret to success
Replies: 0
Views: 660

10 year plan-secret to success

This is the time of year we (spouse and I) sit down and talk about what our plans are for next year, 1-5 years and then 10 years out. Helps us feel as though we are driving the bus instead of Life pushing us around, although it always been a mix of both. We've been doing it for over 20 years. If I had to choose what is the secret to our success in our life this would come very near the top. #1 is meeting each other and staying together (marriage came almost 10 years in, we're cautious types). #2 is having similar outlooks as far as saving and spending. #3 is planning ahead (10 year plan) 2014 we will purchase our first annuity--so thanks everyone for all your posts on the subject. The PDF we received from immediateannuities.com came with an...
by imagardener
Thu Dec 26, 2013 8:13 am
Forum: Personal Finance (Not Investing)
Topic: High Deductible Health Plan question
Replies: 35
Views: 3532

Re: High Deductible Health Plan question

Secondly you need to watch out for doctors or other medical business that wants more money than the contracted rate. This happened to me a couple years ago and I didn't understand what was happening until it was too late. The doctor was in my network but wanted more money, money upfront that was in addition to the contracted rate. I paid $500 more than I expected to pay and was not at all happy with his services, quite painful in-office skin cancer surgery. I've found better surgeons since then that do not ask for "balance billing" either up front or after the fact. This was my next question... How do you deal with this? Ask, "Do you balance bill?" before the appointment? Several years ago my daughter had surgery at Duk...
by imagardener
Wed Dec 25, 2013 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: High Deductible Health Plan question
Replies: 35
Views: 3532

Re: High Deductible Health Plan question

VictoriaF wrote:
imagardener wrote:I have always had a HDHP (25+ years) and never had to pay anything up front.
Have HDHPs existed that long? I thought they were a recent offer. Or only HSAs are recent?

Victoria
It was called an MSA when we started (Medical Savings Account) now it's HSA. I'm not sure when the MSA part started (only 2 insurers offered it way back then) but we've always had the highest deductible possible to keep the premium low. No one even knew what they were when we handed our insurance cards over. I think they felt sorry for us because we didn't have a co-pay. We ran the numbers long ago when we started out as self-employed healthy 20-somethings and HDHP was the best buy.
by imagardener
Wed Dec 25, 2013 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: High Deductible Health Plan question
Replies: 35
Views: 3532

Re: High Deductible Health Plan question

What happens when I go to the doctor with the HDHP? Will I pay nothing up front and wait on a statement from the doctor? Will I be paying full freight until I hit our deductible (which will be $3500/$7000) or will we pay the rate the insurance company negotiated with the doctor - giving me the same discount the insurance company would have got? I have always had a HDHP (25+ years) and never had to pay anything up front. However...now that many people are jumping on this bandwagon the medical pros are getting more worried about getting paid. For the first time ever I was pushed to pay upfront at my annual blood test. The phlebotomist "ran" my benefit on their computer while I sat in the chair and suggested I pay $50 right then and...
by imagardener
Wed Dec 25, 2013 7:39 pm
Forum: Personal Investments
Topic: Good single fund for conservative retiree
Replies: 25
Views: 2701

Re: Good single fund for conservative retiree

PenFed has a 3% CD so you'd look like a genius compared to what she is getting (1% or less) on her 10k now. Perhaps suggest laddering in 5k now and spread the other 5k over 5 months so she's always have access to some part of the money if needed. It's not a windfall but totally secure and she could tell her friends about her brilliant SIL who got her a 3% return with no risk.
by imagardener
Sun Dec 15, 2013 8:20 pm
Forum: Personal Consumer Issues
Topic: Dessert anyone?
Replies: 34
Views: 4089

Re: Dessert anyone?

If you are truly throwing caution to the winds then have dessert in Paris. That would be one never-forgotten dessert.
by imagardener
Sun Dec 15, 2013 8:15 pm
Forum: Personal Investments
Topic: Advice sought for a trust and a joint account
Replies: 5
Views: 937

Re: Advice sought for a trust and a joint account

Why didn't the beneficiary manage the money herself? It would have all disappeared into who-knows-what a long time ago. Well I've got some experience with this too (from the other side of the family). But kind of amazing that the beneficiary sold her own property and then locked it up in a trust she couldn't get at (if that is indeed what happened). I'm not surprised the co-trustee wants out. That happens and happened in yet another part of my family. The co-trustee could see nothing but liability on his end and no positive benefits (he was had no interest in the trust at all, nor any family member he cared about). So he signed off and another family member took it over. Done. A non-professional trustee's job is no-joy from what I could se...
by imagardener
Sun Dec 15, 2013 2:15 pm
Forum: Personal Investments
Topic: Advice sought for a trust and a joint account
Replies: 5
Views: 937

Re: Advice sought for a trust and a joint account

Why is the trustee asking for advice? Concerns from the beneficiary?

I have some experience looking back on a relatives trust that passed to her adult children. Income was not maximized for the beneficiary (surprisingly) but the trust was "professionally" managed and not sure the beneficiary understood what her options actually were in terms of investing choices. IMO she could have used more income (safely) and fewer cap. app. stocks which were never sold (as bogleheads would do).

To give advice I would look back to what the goals of the person who set this up were. With no instruction I'd go 2/3 income oriented Vanguard funds and 1/3 high quality dividend paying stock Vanguard funds.
by imagardener
Sun Dec 15, 2013 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can a health insurer turn me down?
Replies: 9
Views: 1259

Re: Can a health insurer turn me down?

If you applied for a plan that is not ACA compliant then I believe they could refuse to insure you. Did you apply for an ACA compliant plan?

That idea never occurred to me. I thought the law of the land was that in 2014 all new plans must be ACA compliant.
So you scared me enough to go to my insurers online site and check.
Whew, it seems the new plan is ACA compliant, at least I think so based on their statement:
"This plan meets Minimum Essential Coverage which is the type of coverage an individual needs to have to meet the individual responsibility requirement under the Affordable Care Act."
by imagardener
Sun Dec 15, 2013 1:15 pm
Forum: Personal Consumer Issues
Topic: Discounts for seniors
Replies: 19
Views: 2827

Re: Discounts for seniors

I checked the one senior discount I am aware of and it's wrong. Beall's gives a 15% discount on Tuesdays to seniors not 20% and it's every Tuesday not once a month. (Don't know whether to be happy or not but I didn't get the discount once and had to go back. No they didn't ask for ID when I went back) Not sure how Dunkin Donuts could afford to give away coffee to 55+ in most of Florida without going broke lol. I just discovered that 65+ (FL residents) don't have to buy a fishing license in Florida. Not publicized anywhere but clearly in the regs I read online. Too bad my husband doesn't like to fish. We give gas money (boat) to a neighbor that is good at it and he gives us fish. edit to add: I just checked Publix and there is no senior disc...
by imagardener
Sun Dec 15, 2013 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can a health insurer turn me down?
Replies: 9
Views: 1259

Re: Can a health insurer turn me down?

BruDude wrote:If the plan has a 2013 effective date you can be declined. If it has a 2014 effective date you cannot be declined.
Thank you for your reply. My application has a 1/18/2014 start date because my current insurance has the 18th payment date and they declined to change it to 1/1/2014 because it was too much trouble for their accounting system.

You have given me a little peace of mind but why was I told they would let me know if I was accepted? Off-putting.
by imagardener
Sun Dec 15, 2013 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Can a health insurer turn me down?
Replies: 9
Views: 1259

Can a health insurer turn me down?

I made my 2014 health insurance decision last week, stayed with my longtime health insurer Assurant, but changed my policy to a new one similar to my current policy but over 25% less expensive. Keeping all my doctors so it will feel fairly similar. The policy is also with the same provider, Aetna, that I have now. I called Assurant directly and made the application, took about 30 minutes my answering the basic questions, "No, I don't smoke" and other benign (I think) answers. I am not overweight but do have a pre-existing condition (they didn't ask but of course are aware of since I've been with them over 25 years). I got a call back a day later and they seemed to re-interview me and read off a bunch of stuff on a recorded line th...
by imagardener
Sun Dec 15, 2013 10:52 am
Forum: Personal Finance (Not Investing)
Topic: I Need to Leave My Financial Advisor
Replies: 66
Views: 11126

Re: I Need to Leave My Financial Advisor

LadyGeek's reply is the best way to handle it.

You have already given him a heads-up, there is nothing else for you to say or do.
This is a business relationship first and foremost. It is his business and job to do everything he can to retain you as a client.
The more you continue talking to him the more he thinks you will stay. Disengage.

Have this done LadyGeek's way, the professional and unemotional way.
Do not send him a letter, email or anything in writing but do send a Christmas card with best wishes.
The next time you see him greet him as a friend and make no reference to moving your business. He would be wise not to say anything either.
Move your relationship back to "friend" status and talk about kids, vacations.
by imagardener
Sat Dec 14, 2013 8:58 pm
Forum: Personal Consumer Issues
Topic: Giving anonymous gift
Replies: 20
Views: 14931

Re: Giving anonymous gift

island said this:
Lunch maybe costs $2, he doesn't eat it, mom is behind paying for it, but she pays for him to buy vending machine snacks? And u want to pay for his lunches?

I too thought what you thought but then re-read that

OP said this:
The school is in a poor neighborhood and, not surprisingly, not very good.

So I imagine the food may not be very good or tasty. Don't look down on someone because they don't like what's served for $2.

I think the OP's thoughtful gesture may mean a lot to this small family. Too many people are afraid of doing a good deed for fear of what people may think. That's too bad, let's not discourage the effort.
by imagardener
Thu Nov 21, 2013 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice to Prevent Organization from Being Scammed!
Replies: 12
Views: 1463

Re: Need Advice to Prevent Organization from Being Scammed!

Before "investing" the money shouldn't your board be discussing the best use of that money? Investing could lock that money up from being used. I think your treasurer is putting the cart before the horse.

I am on the board of a small non-profit that inherited a smaller (but large to us) amount from a member. The first question we considered is how that money could be used to further our mission. Since our mission is education we appointed a task force to come up with ideas of how to use it. Why should your church be limited to using the interest instead of putting that all that money to good use?
by imagardener
Thu Nov 21, 2013 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Can beneficiaries agree to terms that differ from the will
Replies: 11
Views: 1548

Re: Can beneficiaries agree to terms that differ from the wi

Do you want the person who will keep more than their share to pay taxes on that property (if you all agree to allow that)? Generally the estate pays the taxes rather than the heirs so you'll have to talk to an estate attorney and determine how that could be done. For smaller issues such as personal property (which ignite many more emotions than the actual value of the items) there are many ways to handle that. Draw lots so that people take turns choosing, have an in-family sealed bid auction with the proceeds divided among the heirs. What I personally wouldn't do is hire an appraiser, then you'll be adding additional cost and perhaps more taxes if your state levies them on estates. I've been involved in both types of personal property divis...
by imagardener
Mon Nov 18, 2013 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Land that won't sell: what would you do?
Replies: 85
Views: 13284

Re: Land that won't sell: what would you do?

Re: donating land for a tax write-off. Most non-profits will not accept this type of donation if it means paying taxes and no cash flow to cover them. I'm not sure if churches pay taxes on all properties or whether church property is only tax-free if used for religious purposes. After you run out of ideas and possibilities to sell it she could quitclaim it back to the county and save $900/year which at 1% interest is like $90,000 CD interest, actually more since she'd pay tax on the $900 interest. If it were me I'd think about advertising it to one of the "survivalist" groups in the area, either a lease or owner-financed purchase. Then I'd contact your nearest neighbors and tell them what your plan is. Unless they'd like to buy it...
by imagardener
Fri Nov 15, 2013 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Signing up for health care
Replies: 324
Views: 39037

Re: Signing up for health care

I also made it through after the 4th id, must be the charm :-) I tried ehealthinsurance.com but the information there did not seem right compared to what I had been able to see at the .gov site so I kept trying until it finally worked. I am comparing an exchange policy to one through my current insurer (both with Aetna). I will save minimum of 28% from my current premium and get a slightly better plan but I could save more going with a higher deductible which I'm thinking about. Both are HSA-eligible so I set that up with Eli Lilly Fed Credit Union which someone here gave a heads-up about, links to Ameritrade so I can invest in ETF's for the first time. edit to add: exchange plans under Aetna PPO have the same network (same doctors, hospita...
by imagardener
Sun Nov 03, 2013 3:14 pm
Forum: Personal Investments
Topic: HSA help
Replies: 18
Views: 3394

Re: HSA help

Option 3 would cost the least but aren't you giving up the value of actually investing in the stock market compared to 1.3% for leaving it in the bank? It's an "opportunity" loss IMO and better put in the stock market (in whatever allocation you have decided on). I've been poring over the few choices there are available to invest my HSA dollars in the stock market rather than a bank's money market. I'm greatly disappointed that Vanguard's choice to hook-up with (Health Savings Administrators) charges $45/yr plus another small percentage a month on the balance in the account. If I had 20k the fees wouldn't hurt so much but I have much less so the fees are in the neighborhood of 6 tenths of a percent. Yes the returns from ETF's shou...
by imagardener
Mon Oct 28, 2013 2:52 pm
Forum: Investing - Theory, News & General
Topic: Robert Schiller Nobel-nice guys don't finish last
Replies: 3
Views: 1382

Re: Robert Schiller Nobel-nice guys don't finish last

Thanks for the article since I can't read NYT for free any more.
Going to read his book "Give and Take", interesting topic.
by imagardener
Mon Oct 28, 2013 11:48 am
Forum: Investing - Theory, News & General
Topic: Robert Schiller Nobel-nice guys don't finish last
Replies: 3
Views: 1382

Robert Schiller Nobel-nice guys don't finish last

I am a nobody, seriously, but 10 years ago I saw an article written by Mr. Shiller that had his email address, so I emailed asking for clarification about something (don't remember what) and he actually emailed me back with an answer. Just the kind of thing that goes on in this forum but back then had no one to ask get an unbiased answer or one that I trusted.

If I remember correctly most/all of the Nobel awards in Economics go to Americans.
I do research to motivate girls to study in STEM fields (Science, Technology, Engineering and Math) and our lone woman awarded the Nobel for Economics was Eleanor Ostrom. She did some very interesting research on how "common" resources (forests, fishing, etc) are managed in different countries.
by imagardener
Mon Oct 28, 2013 10:49 am
Forum: Personal Consumer Issues
Topic: Donating a Used TV to Charity
Replies: 44
Views: 12192

Re: Donating a Used TV to Charity

We called our local Veterans home for our first big TV and they were happy to come and get it. Truck sized.
For our last one we're soon giving it to a teen down the street for his man-cave in the garage.
Here in Florida many people use their garages as living space and park their cars in the driveway.
The first time I saw a garage opening with screen I thought "What?" but it's commonplace with or without screening.
Garages in Florida are like old-time front porches. If the garage door is open you're home :-)
by imagardener
Wed Oct 23, 2013 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: How did you start up your small business?
Replies: 20
Views: 4840

Re: How did you start up your small business?

I was self-employed and we built our business from zero to a well-paid career over many years. The only way we survived the mean, poor years is because we were passionate about what we did (photography) and didn't want to do anything else even for more money. I don't hear you being passionate about what you want to do so being self-employed will be much more difficult for you because you'll compare it to your regular job and the money will be worse, the hours longer and it will really be about the money, not passion. A part-time endeavor will take a lot of time and effort and not show much money unless you get really lucky. I completely agree with filling a "niche" that bigger businesses can't fill. A creative mind is always open ...
by imagardener
Thu Oct 17, 2013 9:32 am
Forum: Personal Consumer Issues
Topic: [unhappy with ACA subsidy calculation]
Replies: 20
Views: 4037

Re: goodbye obamacare subsidy

i'm using massachusetts exchange which is run by the state. i can't speak for a federal exchange Ahh. She lives in Florida, and thus, needs to use the federal exchange. Not a big deal b/c it won't take affect until 1/1 anyway, but it would be nice to be able to look at the plans and compare her options. I live in Florida and had the same problems logging in as you. Finally got logged in on 10/12 under the 4th user name (wouldn't accept previous tries) and success finding policies. I also suggest getting a "retail" quote for your mom for comparison purposes. While frustrated with the Florida exchange (which is due to our state not participating and not setting up a state exchange and therefore being overwhelmed) I called my curren...
by imagardener
Thu Oct 03, 2013 5:58 pm
Forum: Personal Consumer Issues
Topic: Do we still need to own a home?
Replies: 34
Views: 5199

Re: Do we still need to own a home?

Not all areas have decent rental properties available equal in quality to home ownership. We tried to find a rental when we found the place in Florida we liked but the annual rentals were depressing. It was also hard to find the right home to buy too because we are picky but we got lucky after a lot of work searching. Many desirable Florida rental properties are seasonal not year-round because landlords can get the same money with less wear and tear just renting for the winter season. But not all cities and towns in Florida are the same. Right now there is turmoil because flood insurance rates are being raised, astronomically in some cases, on older properties, not necessarily near the coast. I've lived on both coasts in Florida. It is a ve...
by imagardener
Fri Sep 07, 2012 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: self-employed person pay payroll taxes ?
Replies: 8
Views: 1631

Re: self-employed person pay payroll taxes ?

How does a self-employed person pay payroll taxes ? Are they supposed to pay it quarterly ? A self-employed person often does not know what their income will be at the end of the year, so quarterly payments can be a wild guess. Net income can vary wildly and changes in expenses. Can you get a payroll tax refunds if you over-pay payroll tax ? Yes, they are paid quarterly. It's really only difficult to figure out how much to pay the very first year you start. After the first year if you pay (quarterly) the amount of tax you owed the previous year you will not be charged any penalty. Simple. Unless you have a windfall year and don't put enough away for the extra taxes due on April 15th. So it's always a good idea to keep money aside in good y...
by imagardener
Fri Sep 07, 2012 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning for the Elderly eg trusts to shelter assets
Replies: 3
Views: 900

Re: Estate Planning for the Elderly eg trusts to shelter ass

There have been several discussions on this topic already. You can do a search to read what people have had to say about it as a start to your becoming more familiar with all the different ramifications of being "Medicaid eligible" and whether that is a goal you really want for your elder. Visit some nursing homes and ask about Medicaid.

[Political content removed by Mod]
by imagardener
Thu Sep 06, 2012 3:43 pm
Forum: Personal Consumer Issues
Topic: Film darkroom advice
Replies: 26
Views: 2707

Re: Film darkroom advice

Some photographers love "the process" and others are more interested in the end result.You sound like the first type and I am the second. I'm a retired professional photographer who does not want to return to the darkroom. I love Photoshop which can emulate almost any effect that you want, including Zone System . But seeing the image appear in the darkroom is what started me on becoming a photographer, no question. Do what makes you happy. But it will be expensive to set up your own darkroom to find out whether you enjoy it or not. Try to find a class to take even if it's miles away. There are still experts teaching darkroom skills and you should find the best one available, it would be worth the money.There is an art photographer...
by imagardener
Fri Aug 31, 2012 10:23 am
Forum: Investing - Theory, News & General
Topic: Stories like this make you wonder...
Replies: 10
Views: 2639

Re: Stories like this make you wonder...

nisiprius said: Take that point about "Find the physical address of the company's location and drive by it." How many of us have ever done that? Have we ever visited the headquarters of the brokerage or mutual fund company we deal with? This reminds me of driving past seeing the sign "Ned Davis Research" in a small complex on my way to Sarasota. I thought "hmmm, I remember that name from reading Morningstar" so I looked it up wondering if they were now setting up storefront offices but for what? Selling analysts research reports? Turns out it's the company HQ located in lovely Venice FL which they use as incentive to work there. It's a small world. I can't see a way to post a live link showing it on maps.google...
by imagardener
Wed Aug 29, 2012 4:22 pm
Forum: Personal Consumer Issues
Topic: To Fence ... Or Not?
Replies: 93
Views: 12498

Re: To Fence ... Or Not?

could you grow some border plant that would define the border without having the actually put up a fence? Paul Exactly what my thought was, much less expensive than a fence. Nice neighbors get nice plants down the property line. Less nice neighbors get roses with thorns or other plants that would discourage getting close enough to mow. Put stakes or protective barriers around young plants so they aren't "accidentally" mowed down. Plant inside your property line in a way that makes it clear this is your line of demarcation. If it's a sunny spot you could put up a trellis and grow tomatoes or vining flowers alternate times. When we moved in 5 years ago we planted 100' of plants on property line, first placing the pots along the lin...
by imagardener
Tue Aug 28, 2012 11:13 am
Forum: Investing - Theory, News & General
Topic: When husbands and wives are very different re: risk
Replies: 51
Views: 5942

Re: When husbands and wives are very different re: risk

If it were me (I'm female too) and my partner did not share my investment philosophy I would not change my AA for that reason, especially if it meant mytaking on more risk by having more stocks than my preferred AA. If you and he have run the retirement calculators you have discovered you may need to save more or work longer years because of his preferring lower risk investments or maybe not. 2nd marriages require compromises and investment philosophy may be one of them.

Has he considered how you would be left financially if he died sooner than he thought?
Have you both reviewed beneficiaries on all accounts?
by imagardener
Mon Aug 27, 2012 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Investigating/evaluating a home owners' association
Replies: 13
Views: 2007

Re: Investigating/evaluating a home owners' association

You've gotten very good advice here. Read it all and try to do it. But HOA's are subject to change and even if you do all the right things it can still turn out badly. We rented for several years before buying in the same development, bought a condo then moved up to a single-family home a few years afterward. We knew the place pretty well after 10 years and then it went south even though we served on the board and tried to get things back to normal. We started looking for a new home in the same city and did some of the things suggested, talked to owners, called the manager and asked questions. Turns out quite a few of the neighborhoods we liked had the same fights/issues going on. We decided to look for a non-HOA home and have been happy in...
by imagardener
Mon Aug 27, 2012 7:36 pm
Forum: Investing - Theory, News & General
Topic: As stock investor, you're competing against 54% of Americans
Replies: 33
Views: 4110

Re: As stock investor, you're competing against 54% of Ameri

I think the OP brings up a valid point to consider and perhaps suggests that stock prices could be affected by how many people are buying stocks. More buyers for a resource usually means the price goes up. Fewer buyers and prices go down. But how much power do individuals have (even as a non-allied group)? My guess is not that much. The big movers of stocks are pension funds and other mega-buyers, not us. But even our paltry amount can shift the market by a few percent, which can affect "perception" and give big buyers pause. This can affect the price of a stock but can it affect returns ? I believe that many non-allied individuals in concert can move prices a little and consequently increase/decrease stock prices, a la "tipp...
by imagardener
Fri Aug 24, 2012 12:23 pm
Forum: Personal Consumer Issues
Topic: Garage floor paint vs. tile
Replies: 5
Views: 1494

Re: Garage floor paint vs. tile

Our electrician who lived in our neighborhood in Naples FL tiled his garage which caused his pregnant wife to slip and break her arm. I am not sure of what tile he used. Until then I'd never heard of anyone tiling their garage but he did high-end work in expensive homes and probably saw it in one of them.
by imagardener
Thu Aug 23, 2012 4:07 pm
Forum: Personal Investments
Topic: where to find historical SPIA payout numbers?
Replies: 9
Views: 2001

Re: where to find historical SPIA payout numbers?

Taylor

Thank you again. Your list is extremely useful. I will be printing it out and putting it into our financial notebook so that every 2-3 years when we again think about SPIA's and forget why we decided to wait we can refresh our memories. We do this with other financial decision, write down why we did not do something so we don't waste time doing the research all over again.
by imagardener
Thu Aug 23, 2012 3:34 pm
Forum: Personal Investments
Topic: where to find historical SPIA payout numbers?
Replies: 9
Views: 2001

Re: where to find historical SPIA payout numbers?

Taylor

Thanks for your comment about how SPIA is insurance related.

We've owned little to no life insurance in our lifetime because it didn't make sense for us. Comparing an SPIA to other investment options is therefore my only frame of reference. If one feels they will be long-lived then purchasing an annuity makes terrific sense, but what age is appropriate to begin? Perhaps I am not yet old enough to appreciate their safety factor but SPIA's keep me feeling underwhelmed. I want to be convinced they are right for us but so far have not reached that conclusion.
by imagardener
Thu Aug 23, 2012 2:37 pm
Forum: Personal Investments
Topic: where to find historical SPIA payout numbers?
Replies: 9
Views: 2001

Re: where to find historical SPIA payout numbers?

bobcat

Thank you. That is a very useful formula and helps me look at the immediateannuity charts a little better (I think).
I plugged in the 65 y.o. female numbers today and the payout is 6.41%. They can't call it a "rate" because it includes capital in the payout.
The 10 year bond is at 1.67% today.
Using your formula to estimate I come up with: 1/20 + 1.67/2=5.835% annual payout
The charts are showing quite a bit lower, around 3.2% (not up to the minute of course).

This suggests the charts are attempting to show apples to apples comparison to bond rates, not including capital in the payout rate (I think).
I hope I'm understanding how their charts are formulated in comparison to bond rates.
by imagardener
Thu Aug 23, 2012 1:53 pm
Forum: Personal Investments
Topic: where to find historical SPIA payout numbers?
Replies: 9
Views: 2001

Re: where to find historical SPIA payout numbers?

JD

Thanks for your reply. I found the graphs at immediateannuities.com but they are not too satisfying in that they only go back to 2003. How could I find longer periods to compare?

My other "immediate" question is their comparison of SPIA's to bonds. An SPIA uses both capital and interest in it's return rate whereas a corporate or US bond rate reflects only the interest rate. How can I accurately compare these two different animals? The SPIA has no capital at it's conclusion whereas a corporate bond retains it's underlying capital.

How can I know that the chart portrayed reflects apples to apples when comparing an SPIA to a bond (any bond).
by imagardener
Thu Aug 23, 2012 1:27 pm
Forum: Personal Investments
Topic: where to find historical SPIA payout numbers?
Replies: 9
Views: 2001

where to find historical SPIA payout numbers?

I've been wondering how SPIA payout rates relate to the stock market in general and is there historical information for SPIA's anywhere? It's a bit too early to buy one now (based on age) but would like to look ahead and plan several purchases sometime in the future (dollar cost averaging SPIA's in other words). Of course I can look up what an SPIA pays now but is there a site that shows what SPIA payouts were in the past? Is there a correlation to the stock market such as the S&P 500 or are they more correlated to bonds? I'd like something to relate SPIA's to. Since I am fully invested currently I also want to consider what asset class to sell to purchase an SPIA. My first thought is bonds since that is what SPIA seems closest to. Than...
by imagardener
Wed Aug 22, 2012 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Just received $1380 Affordable Care rebate
Replies: 58
Views: 4946

Re: Just received $1380 Affordable Care rebate

BruDude wrote:I got $1.19 back. The company probably spent $10 to administrate and process my $1.19 refund. Whoopee.
To me it sounds like the insurer you use is extremely efficient in their premium estimate. In other words you have not been overbilled so you didn't get back much.
I am looking forward to seeing how my future premium changes and getting little or nothing back next year.
by imagardener
Wed Aug 22, 2012 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Just received $1380 Affordable Care rebate
Replies: 58
Views: 4946

Re: Just received $1380 Affordable Care rebate

Can the OP tell what insurance company that is?

Time Insurance Co. has been our health insurer for over 20 years, mainly because they were one of the early adopters of MSA's/HSA's and we wanted that tax-advantage as soon as we heard about it (had to educate our CPA about it way back when). They have gone through multiple name changes over the years and their current name is Assurant Health with a ppo called Great West administered by Aetna. Confusing, no?

They are located in the Midwest and I've always found their customer service to be excellent on the phone.
by imagardener
Wed Aug 22, 2012 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Just received $1380 Affordable Care rebate
Replies: 58
Views: 4946

Just received $1380 Affordable Care rebate

Wow, what a nice surprise, getting a big check in the mail from our health insurance company. The check was accompanied by a letter explaining WHY we were getting the check: because the Affordable Care Act requires insurers to spend 80% of premiums on actual health care costs and this is our share of that difference. I realize many people here have never paid their own healthcare premiums directly and that their employers will be getting this rebate not them. But for people like us, self-employed our whole careers, it is a positive step forward. Yes, our premiums are still quite high but one of us reaches Medicare age in a few months and will join that much anticipated group policy after a lifetime of paying outsize premiums because we were...
by imagardener
Mon Aug 20, 2012 7:45 pm
Forum: Personal Consumer Issues
Topic: Any experience with buying high quality persian/easter rugs?
Replies: 6
Views: 1805

Re: Any experience with buying high quality persian/easter r

I own some quality Eastern rugs but discontinued buying them because of child labor concerns. There is a program that monitors and tags rugs so that they are guaranteed not to be made by children or slave labor but I now prefer to purchase machine-made area rugs. Even buying antique or used rugs does not eliminate this concern for me.
by imagardener
Tue Aug 07, 2012 11:17 pm
Forum: Personal Consumer Issues
Topic: Getting pricing for medical procedures in advance
Replies: 66
Views: 7931

Re: Getting pricing for medical procedures in advance

I've had this issue for many years because we've always carried a high deductible policy. 20 years ago this question was never asked by consumers and I was always met with silence or pity (they thought I was poor and uninsured). Have you called your health insurance company? Mine now offers a service that will get estimates of costs if you give them the names of service providers. Not 100% effective because on my recent colonoscopy they could not give the cost of anesthesia and the estimates ranged from $1500-3000. I have been told by acquaintances that if you inquire about "self-pay" from the provider you can get a lower price because they do not have to submit a claim and wait for payment. "Self-pay" means just that, y...
by imagardener
Sun Jul 29, 2012 11:00 am
Forum: Personal Consumer Issues
Topic: No (Financial) Good Deed Goes Unpunished stories
Replies: 41
Views: 5521

No (Financial) Good Deed Goes Unpunished stories

The most common "good deed punishment" that happens to me is automotively when I let someone on a side street to get in front of me during backed-up traffic and they then do something dumb that causes me aggravation.

The biggest "good deed" that punished us was many years ago in business we received double payment by 2 checks a couple weeks apart from one of our customers. It was 4 digits of money and we certainly would not keep it and shut up. We called to make sure they didn't mean to send it (wanting to re-order IOW) and then sent their check back to them. They were a good customer who placed orders regularly but after this event they never ordered from us again.

[Title edited by admin LadyGeek]
by imagardener
Sat Jul 28, 2012 11:26 pm
Forum: Personal Consumer Issues
Topic: Scuba diving - to do or not to do
Replies: 41
Views: 11437

Re: Scuba diving - to do or not to do

Basically anything else people have to say on time and money would be helpful for me to decide. I am an ex-diver (ear problems) and here's my take on your question. First, you really need a reliable "buddy" to dive with. If your wife/girlfriend isn't into it who do you trust with your life? My husband would like to dive again but doesn't trust anyone else that way. Second it does take time away from your kids even counting the fact that you are near a diving area and don't have to use vacation days for diving. Of course golf or other time intensive hobbies do the same thing but if your kids are young don't lose these days that they actually want to be around you. Should you get certified? Yes, go for it, but as said earlier the o...
by imagardener
Sun Jul 08, 2012 7:44 pm
Forum: Personal Consumer Issues
Topic: I want an Airstream!
Replies: 70
Views: 17635

Re: I want an Airstream!

If you are near SLC and want to try out a Sprinter they call Two4theroad (similar to Roadtrek but by a different company) check out this outfit located in Las Vegas NV (they also have another location near Yellowstone).
http://www.campervannorthamerica.com/rates.shtml

I have no personal knowledge of them but it is rare to find a Sprinter for rent. They also sell their used fleet, see clickable link on the bottom left of the linked page: CamperVan Liquidation sale. $55k is a bargain if you've looked at used prices, new ones are close to $100k. They went up a lot in price since we bought ours 5 years ago.

The Edelweiss vans look cute but don't have shower/toilet or kitchen, just sleeping spaces.
by imagardener
Sat Jul 07, 2012 8:21 pm
Forum: Personal Consumer Issues
Topic: I want an Airstream!
Replies: 70
Views: 17635

Re: I want an Airstream!

Follow your dream. 5 years ago we bought a 22' conversion van (I had to learn what all the different types of RV's were called). It has been the most fun vehicle ever. Tomorrow we leave for an 8 week trip to the Southwest: Yellowstone, Utah national parks that we missed on the last trip (Zion, Capitol Reef, Bryce), Lake Powell and Antelope Canyon in AZ. Stops in Nashville and St. Louis on the way out and Texas on the way back. It's a big, beautiful country. We get up close and personal with near wilderness while having a comfortable bed and eating healthy food. We are so active all day long that we come home 8-10 lbs. less body weight. How large are your dogs? And will you be taking them in your truck during the day? They will be with you i...
by imagardener
Sun Jul 01, 2012 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Deleted
Replies: 8
Views: 1997

Re: homeowner lawsuit vs HOA

I am an ex-HOA-er (hope that doesn't sound like "ex-whore") and not knowing anything about your particular documents will say this: most HOA's cannot "upgrade" unless mandated by safety laws (such as fire sprinklers, building codes etc). In other words you must maintain what is there and if it cannot be replaced exactly then should be as close as practical. Any changes other than maintenance or to comply with new safety codes must be voted on and approved by a very large % of owners, in some cases 100%. The way you describe it "updated to current standards" is not clear whether it is mandated by law, such as fire or hurricane codes. If it is a legal requirement then the hold-outs don't have a leg to stand on. I...