Search found 1266 matches

by Mitchell777
Wed Feb 28, 2024 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: "Accrued Market Discount" using TurboTax
Replies: 7
Views: 1207

Re: "Accrued Market Discount" using TurboTax

Thanks to all. Good suggestions. I imported the Vanguard Sch B data, as suggested, to compare to my manually input data. Got the same result but feel a bit better after the check. When imported, it shows every Treasury that matured, line by line (Yes, I had been summarizing it). The accrued market discount (AMD) amounts went to interest income (each Treasury shown separately). That same AMD was subtracted out of my capital gains.

Ex of one note maturing in 2023 as shown on form 8949:
Column D: $250,000 proceeds
Column E: $248,896 cost
Column F: Code "D"
Column G: $1,104 (negative) Amount of Adjustment
Column H: $0.00 Gain or Loss
by Mitchell777
Mon Feb 26, 2024 9:31 am
Forum: Personal Finance (Not Investing)
Topic: "Accrued Market Discount" using TurboTax
Replies: 7
Views: 1207

Re: "Accrued Market Discount" using TurboTax

Just noting my experience. I auto imported. TurboTax for me, when I have a code D adjustment that imported, the gain is reduced by that amount, and the adjustment automatically flows to schedule B. If you have other adjustments, like ABP, Turbotax will print a supporting schedule with the details that match the summary of the below the line schedule B adjustments. I didn't need to make any adjustments. In forms mode, under the Cap Asset Sales section under the 1099-B Wks, are you seeing this? There is one more check you should be running, which is the de minimis check, if the accrued market discount is less than 0.25% x(times) years owned by you x(times) face value of the bond, it can stay as a capital gain and get the more favorable tax t...
by Mitchell777
Mon Feb 26, 2024 4:47 am
Forum: Personal Finance (Not Investing)
Topic: "Accrued Market Discount" using TurboTax
Replies: 7
Views: 1207

Re: "Accrued Market Discount" using TurboTax

Thanks. Paying for the TT advise may not be working out for me so far. So, if one holds a Treasury note bought on the secondary market for less than a year or more than a year, holding it until maturity, the accrued market discount is still all interest income (i.e. no LT CG for holding more than a year).

My EX:
LT Covered: $2,686 is shown in column 1f on 1099B from Vanguard as accrued market discount (D).
ST Covered: $1,197 is shown in column 1f on 1099B from Vanguard as accrued market discount (D)

So, in my example the accrued market discount in both cases is 100% interest income and not a ST or LT CG
by Mitchell777
Sun Feb 25, 2024 10:42 am
Forum: Personal Finance (Not Investing)
Topic: "Accrued Market Discount" using TurboTax
Replies: 7
Views: 1207

"Accrued Market Discount" using TurboTax

I had some Treasury Notes, bought on the secondary market, mature in 2023, all bought at a discount Ex: LT Covered: $2,686 is shown in column 1f on 1099B from Vanguard as accrued market discount (D). In TT (on-line version) 1099B form, I checked "Need to adjust cost Basis" box and checked "Accrued Market Discount" box. For "Total Adjustment to gain or loss" box I keyed a zero. This results in the $2686 reported as int income on sch B and ALSO as CG income on sch D. Seems like double tax. I had a very long call with 3 tax experts from TT and I reviewed IRS form 1099B instructions. TT told me it is correct that it appears as both interest and a CG. Has anyone been through this? Please let me know if it's not clea...
by Mitchell777
Mon Jan 22, 2024 2:12 pm
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 41942

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

Taylor - Happy Birthday! Thank you for this site, for your advice, for your service to our country.
by Mitchell777
Thu Jan 18, 2024 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Trust or not?
Replies: 55
Views: 5781

Re: Trust or not?

Thanks for the feedback. Good points. In my case the entire estate will pass to 3 to 5 local charities. No heirs. No debt. Will need to discuss with my attorney.
by Mitchell777
Thu Jan 18, 2024 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Trust or not?
Replies: 55
Views: 5781

Re: Trust or not?

bsteiner wrote: Tue Jan 16, 2024 9:01 pm

It's generally not a good idea to name beneficiaries except for life insurance and retirement benefits, though in your case if you bought a trust through a free dinner seminar TOD might be better than what you have now.

[/quote]

I'm about to get back into this. Do you mean TOD should not be used for non-retirement accounts such as the Vanguard Brokerage accounts for non-retirement funds (where I have a significant percentage of my investments) or CD's in a local bank? What should be used? Thanks
by Mitchell777
Sat Jan 06, 2024 7:35 am
Forum: Personal Consumer Issues
Topic: Devices to Increase Hand-Grip Strength
Replies: 49
Views: 7607

Re: Devices to Increase Hand-Grip Strength

Just as an aside, as I've gotten older I notice more issues opening jars. I occasionally use the old fashion hand grips or use a ball to strengthen. However, I find it's not my strength many times but it's the pain I now feel gripping something hard. I just had an issue with a jar I could not open even using something to keep my hand from slipping. It hurt to grip it hard. I went to the garage and found my gardening gloves which allowed me to grip hard w/o the pain and the jar opened easily. Perhaps it's like the issue with feet as we age where there is less padding.
by Mitchell777
Wed Nov 15, 2023 9:50 am
Forum: Personal Investments
Topic: CD Purchase through Vanguard
Replies: 6
Views: 850

CD Purchase through Vanguard

I wanted to buy a CD today through Vanguard on the secondary market. I have not done so in a while as I've been buying Treasuries. When I key 100 as the quantity ($100,000 face value) it shows a commission of $100. I tried another CD at 75 ($75000 face value) and it shows $75 commission. I read some old posts as thought the commission was $1 per CD, not $1 per $1000 face value. What am I missing? Thanks
by Mitchell777
Mon Oct 16, 2023 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: For Those Who Received Their First SS check at 70
Replies: 1
Views: 752

For Those Who Received Their First SS check at 70

I'm turning 70 in October so will receive my first SS payment November 20th. Today, I went into the Medicare site to pay my premium, via credit card, for November, as I have been doing for years. There is a message saying I cannot pay my bill on line because I did not receive a CMS-500 (Medicare Premium Bill). But I did receive a CMS-500 as I have every month (telling me to pay by Oct 25 for Nov coverage). The Medicare web site then explains the Medicare premium will be deducted from my SS check. But I assume the first SS check on November 20th would deduct the Medicare premium for December, so I would have never paid for November. I called Medicare as the site instructs. The rep did not seem to follow but then told me that both Nov and Dec...
by Mitchell777
Tue Oct 10, 2023 5:44 am
Forum: Personal Finance (Not Investing)
Topic: Premium for 2 million umbrella policy
Replies: 128
Views: 19884

Re: Premium for 2 million umbrella policy

- any recommendations on how much umbrella coverage to have? I wonder if lawyers just sue for the umbrella amount in most cases? - any other recommended companies in PA for umbrella ? RLI is an option for stand alone umbrella. The first question has been discussed in many threads here. Some argue that $1M is enough as most lawyers would just advise their client to settle for the policy maximum. Also, if you look up successful liability suits for car accidents, there aren't many for more than $1M. Others have said get up to your net worth bc it's not that much more in premium to keep adding more coverage (as in it's not 2x or 3x more to get to $2M or $3M). This is the question I struggle with. If one is in an accident with a 30 yo plumber w...
by Mitchell777
Wed Oct 04, 2023 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody else a retiree who is a conservative investor?
Replies: 62
Views: 8157

Re: Anybody else a retiree who is a conservative investor?

As retired folks we have a rather conservative portfolio by Boglehead standards. AA 33/67 DW 63 DH 62 Anybody else in Boglehead forum land consider themselves a conservative investor? What is your AA and age? Pensions? Thank you for your responses Almost 70 and my AA is a little more conservative than yours. I would not recommend it for most people but I have no heirs and I have only one goal and that is to not run out of money. Do not have longevity with the males in the family and have a couple health issues myself. Don't expect to live to be 90 or 100 but you never know which is why I try to keep equites in the 25% to 30% range. Small pension not indexed for inflation. SS kicks in next month so that covers most expenses although close t...
by Mitchell777
Thu Sep 28, 2023 7:21 am
Forum: Personal Consumer Issues
Topic: My Elderly Parents Can't Resist Answering the Phone
Replies: 127
Views: 38950

Re: My Elderly Parents Can't Resist Answering the Phone

60 to 70% of my calls come show in the caller ID as a city and a state (e.g. Dallas TX, Memphis TN). They are 100% of the time spam calls but I do not know how to stop them based on that criteria. The rest of the time they hijack a local person's phone and name and it shows on the caller ID. Once or twice it was actually someone I knew but it was not them when I picked up. I do not pick up if I do not recognize the number. If the ringing irritates me I just hit the speaker button twice quickly.
by Mitchell777
Thu Sep 21, 2023 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Premium for 2 million umbrella policy
Replies: 128
Views: 19884

Re: Premium for 2 million umbrella policy

$200/yr for $2M but just one driver. My issue is how much is enough. I was privy to a court case where a guy in his mid 30's was rear ended and said he can no longer work (with many med tests backing it up). He was earning less than $40K/year). The lifetime earnings were estimated at $1.2 to $2.4M. Of course that only includes earnings. Is $2M plus the underlying insurance enough if you have considerable assets to protect? What if the person earned $80K or $120K. Where do you draw the line.
by Mitchell777
Thu Aug 24, 2023 7:48 am
Forum: Personal Finance (Not Investing)
Topic: How to accept payment for a private vehicle sale
Replies: 148
Views: 11641

Re: How to accept payment for a private vehicle sale

Each car I bought or sold required a Notary Public be involved in the transaction, whether at the dealership, bank, or private Notary. Or, maybe I just thought it did. Interesting.
by Mitchell777
Mon Aug 07, 2023 7:07 pm
Forum: Personal Investments
Topic: Adios, Vanguard
Replies: 465
Views: 93423

Re: Adios Vanguard

Kevin M wrote: Tue Aug 01, 2023 12:43 pm


On the other hand, you can't use proceeds of a Treasury maturing the next trading day to buy a replacement Treasury online at Fidelity on the current trading day. You can do this at Vanguard, and the Schwab rep told me you can do it at Schwab. To do it at Fidelity, you must call the bond desk, and they must get approval to waive the commission.


Kevin
Does this mean, at Vanguard, you can buy a Treasury today using money from a Treasury that will mature tomorrow? So the money does not need to be in your settlement account today but it will be there tomorrow when the new purchase goes through.
by Mitchell777
Sat Jul 22, 2023 8:50 am
Forum: Personal Consumer Issues
Topic: If retired early, what do you tell people you do?
Replies: 338
Views: 29785

Re: If retired early, what do you tell people you do?

I worked with a guy that retired in his 40's. He told everyone he was retiring because he always wanted to invest in real estate. Based on no investments in the future, It appeared more like he retired because his wife was the CEO of a Pharma company, they had a young child, and it made little sense for him to work. That did not seem like the message he wanted to send. I get it. I would have had the same feelings at that young age.
by Mitchell777
Fri Jul 07, 2023 7:01 am
Forum: Investing - Theory, News & General
Topic: Vanguard Customer Service Mega-thread
Replies: 1512
Views: 167405

Re: Vanguard Customer Service Mega-thread

What is a Vanguard Personal Relationship Manager? Is this the person you get when you pay the advisory fee?
by Mitchell777
Mon Jun 19, 2023 4:56 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4524
Views: 617415

Re: What frugal thing did you do today?

Ivygirl wrote: Mon Jun 19, 2023 3:14 pm Recently I downsized from a house to a small apartment, and temporarily stored several boxes of stuff at my sister's. Now I am opening the boxes, seeing what fits in the new place, and setting aside the rest for future trading at thrift stores for things I need. I cruise the thrift stores every so often but I don't buy anything. I ask if they'll trade for what I have.
Interesting. Are these for-profit thrift stores?
by Mitchell777
Sun Jun 18, 2023 7:29 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4524
Views: 617415

Re: What frugal thing did you do today?

Doc sent my script for new drug to local CVS (who also is my Part D provider). Told insurance will not cover the drug (first time this happened with my Part D) so the price would be $233.00 for 90 pills. Checked Cuban's Cost Plus and price for 90 was $8.40 + $5 shipping. Never used them so we'll find out how the process works if/when the med gets here.
by Mitchell777
Thu Jun 08, 2023 7:07 am
Forum: Investing - Theory, News & General
Topic: Vanguard Customer Service Mega-thread
Replies: 1512
Views: 167405

Re: Vanguard Customer Service Mega-thread

In the past three years, I converted a 401K into a Roth IRA and a conventional IRA at Vanguard. I'm glad you had this experience. It makes me want to try again for a similar change I've considered. I wanted to move just my after tax 401K contributions to a ROTH IRA and the earnings on those after tax contributions to a Traditional IRA. All other 401K funds stay with the 401K. I spoke to three Vanguard reps since Vang handles the admin of my 401K. Two said my plan allows but with minor differences and the third rep said I could not do it. I asked to have a supervisor contact me. He left a cryptic message with no return phone number. I called back and asked to speak to him again and he never called me. After almost 40 years with Vanguard, it...
by Mitchell777
Mon Jun 05, 2023 2:41 pm
Forum: Investing - Theory, News & General
Topic: New fee for Vanguard mutual [and brokerage accounts - July 2023 updates]
Replies: 2094
Views: 215648

Re: New fee for Vanguard mutual accounts [June 2023 update]

I'm sorry if I'm confused but I just got off the phone with Vanguard re this issue. I currently have both brokerage and non brokerage accounts with Vang. I was speaking to an off shore rep and she could not answer questions right off their "Moving your Vanguard funds to a Vanguard Brokerage Account" disclosure statement. That was before she dropped the call and had to call me back. I called several times total, sometimes I was asked for voice recognition, the next time not. Once the recording cut out. I rarely ever phone Vang but the past two times have been bad. But I digress. 1) Mutual funds set up as Avg Cost -You need to instruct Vang to switch cost basis to FIFO temporarily. Is this something that requires the transition be d...
by Mitchell777
Fri Jun 02, 2023 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella coverage amount
Replies: 46
Views: 4146

Re: Umbrella coverage amount

Did they specify what they will be doing in the underwriting process? Did not realize it could take a month or two.
by Mitchell777
Tue May 30, 2023 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella coverage amount
Replies: 46
Views: 4146

Re: Umbrella coverage amount

Call_Me_Op wrote: Tue May 30, 2023 6:37 am If you drive, which I assume you do, I think your coverage is much too low. I would bump it to $5 mil.

Look at it this way. If you cause a major accident that really disables someone or worse, what makes you think the plaintiff's attorney will be happy with a $1 million payout when he learns there is closer to $10 million he has a chance to get?
I've wondered about this, not being an attorney. Does the plaintiff's attorney have access to the defendants net worth, or is it simply an estimate based on your lifestyle, job or past jobs etc?
by Mitchell777
Wed May 24, 2023 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Saving/Investing for Long-Term Care
Replies: 22
Views: 2003

Re: Saving/Investing for Long-Term Care

Single, and have earmarked my paid-for home to pay for long-term care. When that time comes, I/we will make a decision based on my heirs' situations---would they do better inheriting my home at a stepped-up cost basis, and then selling? Would one of them like to live in it as part of their half of the inheritance? (I'm already in capital-gains territory if I sold today.) It could make more sense to pay for it out of my 401k, as there would be very large medical deductions for long-term care, at least under current tax law. Of course, none of us know the future, so it's good to have several options. But I do know this: I will not remarry. I can take care of myself financially, and I'm pretty sure I don't want to physically, emotionally, and...
by Mitchell777
Fri May 19, 2023 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Moving to PA from MD for tax reasons
Replies: 54
Views: 4869

Re: Moving to PA from MD for tax reasons

There has been, for a long time, great political pressure in PA to eliminate property taxes. The bill getting the most attention is from Rep Ryan. I believe he may have recently retired but the bill's supporters live on. This link is from last yr but describes the proposal. For many residents this would be a good deal financially, but perhaps not for you as an upper income retiree depending on far into six figures your income goes.

https://www.tnonline.com/20220226/pa-la ... ike-retir/
by Mitchell777
Wed May 03, 2023 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Lab Test Billing under Original Medicare
Replies: 16
Views: 1208

Re: Lab Test Billing under Original Medicare

I have not yet had this testing done. I have a paper script I will take to the lab. Each year the lab goes over with me the tests to be done. They explain that I will not be charged if the lipids were last done one yr or more ago. If less than a yr I would be charged since Medicare will not cover. This is every yr at a few different Quest locations. I need to have the testing done so it's not about saying no to the testing if I must pay. it's a matter of if Medicare pays or I pay. I do see a "Diagnostic Code" on the script (E78.2) from my GP, but I think that is the code I see each 12 months when this test is routinely done.
by Mitchell777
Wed May 03, 2023 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Lab Test Billing under Original Medicare
Replies: 16
Views: 1208

Lab Test Billing under Original Medicare

This is NOT about medical advice. It is a question about lab test billing under Original Medicare. I was unexpectedly in the hospital for several days after an emergency visit and the hospital doctor sent a script to my pharmacy for a statin, one different and stronger than my current statin, based on numerous diagnostic tests performed in the hospital. Both my GP and Cardiologist said I should have lipid blood work done after a couple months so they can see if the new drug is working better than the old drug. I know from my routine annual blood work that I will be charged if I get this type of testing done more than once a year (i.e. Medicare will not routinely pay for this testing more than once per year) and I just had this same testing ...
by Mitchell777
Sun Mar 05, 2023 7:59 pm
Forum: Investing - Theory, News & General
Topic: Taxation of Treasury bills, notes and bonds
Replies: 1028
Views: 149518

Re: Taxation of Treasury bills, notes and bonds

Thank you, Mister, Kevin, Artsdoc!
by Mitchell777
Sun Mar 05, 2023 9:50 am
Forum: Investing - Theory, News & General
Topic: Taxation of Treasury bills, notes and bonds
Replies: 1028
Views: 149518

Re: Taxation of Treasury bills, notes and bonds

I thought I understood this until I rec'd my Brokerage 1099-INT from Vanguard. I bought 12 Treasury Notes on secondary market in 2022. Only one matured in 2022 (on 12-31-22). The rest will mature in 2023 or 2024. Almost all were bought at below face value and almost all paid interest to me in 2022. I understand the $7245 in box 3 of 1099-INT is interest, $144 in box 12 is Bond Premium, $2548 shown as "Taxable accrued Treasury interest paid". I believe I enter $7245 as taxable interest in TT, and subtract from that $144 and the $2548 to get federal taxable interest of $4553... Is that correct? Now for the OID: I did not receive a 1099-OID form. There is a section on 1099-INT entitled OID and Adjustments but every line is a zero. W...
by Mitchell777
Sun Mar 05, 2023 8:16 am
Forum: Investing - Theory, News & General
Topic: Taxation of Treasury bills, notes and bonds
Replies: 1028
Views: 149518

Re: Taxation of Treasury bills, notes and bonds

I thought I understood this until I rec'd my Brokerage 1099-INT from Vanguard. I bought 12 Treasury Notes on secondary market in 2022. Only one matured in 2022 (on 12-31-22). The rest will mature in 2023 or 2024. Almost all were bought at below face value and almost all paid interest to me in 2022. I understand the $7245 in box 3 of 1099-INT is interest, $144 in box 12 is Bond Premium, $2548 shown as "Taxable accrued Treasury interest paid". I believe I enter $7245 as taxable interest in TT, and subtract from that $144 and the $2548 to get federal taxable interest of $4553... Is that correct? Now for the OID: I did not receive a 1099-OID form. There is a section on 1099-INT entitled OID and Adjustments but every line is a zero. Wh...
by Mitchell777
Sat Feb 11, 2023 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Do you spend $ on umbrella insurance coverage or an attorney on retainer?
Replies: 103
Views: 9120

Re: Do you spend $ on umbrella insurance coverage or an attorney on retainer?

I don't think the sentence in red above is correct. Your 401k IS protected from creditors before you start withdrawing. See section "Your 401(k) Is Generally Safe From Commercial Creditors" at https://www.investopedia.com/ask/answers/090915/can-my-401k-be-seized-or-garnished.asp It's worth noting, however, that funds are protected only as long as they are in your 401(k) account. Once you withdraw them, for any reason, those distributions are fair game for creditors to pursue. Thanks. It was a typo. I understand the 401K protection but I am uncertain about IRA protection in my state (PA). I've researched it a few times and found different opinions even from supposed experts. Some say it has the same ERISA-type protection (under th...
by Mitchell777
Tue Jan 24, 2023 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to understand Florida auto insurance
Replies: 36
Views: 3099

Re: Trying to understand Florida auto insurance

I read an article a while ago that said FL was #1 in occurrence of sinkholes (PA being #2). It stated the average total repair cost in FL was $90K. I'm not in FL but I had a sinkhole in my neighborhood, front lawn and right up near the house, and it was a major repair.
by Mitchell777
Wed Jan 04, 2023 2:07 pm
Forum: Personal Consumer Issues
Topic: hiring help to fix roof leaking
Replies: 21
Views: 1797

Re: hiring help to fix roof leaking

I had a leak during our last heavy rain. I was fortunate to have a roofer we've used for decades. He could tell where the leak was from the ground and fixed it for $133.00. Slate roof. I suggest getting a few quotes, asking friends or neighbors who they use and trust. Ask other trades people you use and trust who they know that does good and fair work. $5K seems like a lot of money so it's worth other opinions.
by Mitchell777
Sun Jan 01, 2023 6:31 pm
Forum: Personal Consumer Issues
Topic: Car Repair: Do dealerships really overcharge compared to independent shops?
Replies: 53
Views: 8247

Re: Car Repair: Do dealerships really overcharge compared to independent shops?

I took my car to an independent mechanic for decades until his recent retirement in his 80's. My car once broke down on the way to work. It broke down very close to a dealer so I had it towed there. When I got to the dealer after they checked it out, I walked in and saw three guys in white shirts and ties standing at terminals (not what I saw at my mechanic's shop). They told me it would cost $2K to repair. I called my mechanic and told him the issue. He told me what to do to drive it to his shop so he could do the repair. It cost me $975 all in. That is one of a couple similar situations we've had with dealers. Not to say I have not dealt with a couple great dealers but not recently and not in metro areas.
by Mitchell777
Mon Dec 19, 2022 7:24 pm
Forum: Personal Investments
Topic: After Tax 401k Contributions
Replies: 43
Views: 9145

Re: After Tax 401k Contributions

I read the SPD but it did not get into this level of detail. I called Vanguard back and this time I was told I could do it as I wanted (w/o closing the entire account). I asked for a manager to call me so I can ascertain which rep gave me the correct information.
by Mitchell777
Mon Dec 19, 2022 10:33 am
Forum: Personal Investments
Topic: After Tax 401k Contributions
Replies: 43
Views: 9145

Re: After Tax 401k Contributions

Just an update: Vanguard, who handles the admin, told me my plan does not allow me to strip out just the after tax contributions and the earnings on the after-tax contributions. I would need to close out the entire 401K account and then I could move the after tax contributions to a ROTH and everything else in the 401K to a Traditional IRA. I may call back and see what another rep has to say before I make that decision.
by Mitchell777
Sat Dec 17, 2022 6:34 am
Forum: Personal Investments
Topic: After Tax 401k Contributions
Replies: 43
Views: 9145

Re: After Tax 401k Contributions

If your plan allows, you can rollover your $35k contributions to a roth IRA, and rollover your $130k gains to a traditional IRA. If you had taken this action sooner much of that gain could have been tax free. Since you don't plan on backdoor roth, you can leave the traditional IRA alone until RMD's. I hear you regarding taking it earlier. When I was working there they told us we could not take out the money other than as a loan. Then after leaving we were told we could keep it in the 401K or direct rollover to an IRA or another 401K if we had one. Part of my hesitancy is another topic discussed on this site in the past. That being protection from lawsuits that exists with 401K's (ERISA) vs IRA protection at the state level after the direct...
by Mitchell777
Fri Dec 16, 2022 7:33 am
Forum: Personal Investments
Topic: After Tax 401k Contributions
Replies: 43
Views: 9145

Re: After Tax 401k Contributions

Note: This thread is from 2016. I did not take action before, as I surely should have, but it's back on my mind based on what I read here including Alan S's comments above and other things I've read. I have an old 401K from a prior employer with $35K in after-tax contributions and $130K gain on those after tax contributions. The total represents 25% of this 401K (the other 75% all before tax). I'm over 59.5 and do no back door Roth conversions. Can I: Do a direct conversion of the $35K to a new Roth IRA (with no tax consequences ever)? No other changes. Do a direct conversion of the $35K to a new Roth IRA AND a direct conversion of the $130K to a new traditional IRA (with no tax consequences on the Roth ever and paying tax on the traditiona...
by Mitchell777
Wed Dec 14, 2022 6:41 am
Forum: Personal Consumer Issues
Topic: Dental Restoration Prices - how do they compare?
Replies: 9
Views: 1569

Re: Dental Restoration Prices - how do they compare?

I paid the same $1500 for an implant crown by my regular dentist. I had to go back at least two additional times to get it right. I really wanted to go to a specialist in my area who has a great reputation and she quoted $2300. I was OK with the price but she was booking ahead months unless you did a zoom call with her prior to the office visit and the zoom call was ~ $200 extra. Not sure if she was going to look at my molar over zoom.
by Mitchell777
Wed Nov 16, 2022 5:35 pm
Forum: Personal Investments
Topic: Good stock to buy today for a young adult
Replies: 85
Views: 5855

Re: Good stock to buy today for a young adult

511east wrote: Wed Nov 16, 2022 9:18 am What is a good stock to buy (and hold, not trade) today, for a birthday present?
Clothes don't work anymore, lol! They have their own taste....
I first became interested in investing when my mother bought me a share of stock in our local bank. I later bought active mutual funds and then got into index funds. For me, I would not have been as interested in a mutual fund as a young child. The local stock got me interested. I followed it regularly. Read everything they sent me as a shareholder. Maybe a gift of an individual stock and an index mutual fund or ETF.
by Mitchell777
Sun Nov 13, 2022 10:09 am
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

Thanks for the prior five additional replies regarding LVP. I wonder what houses cost in your areas? I always say I live in a LCOL to MCOL area but I think by some BH's I'm in a very LCOL area. Prior to this very recent increase in housing prices, in my area, one could buy a 3/4 BR 1.5/2 Bath home on .25 acre for $175K to $225K. Houses with plaster walls, hardwood floors, many with slate roofs. $1M houses exist but are rare. Selling a house is often about being in an affordable price range in my area. So, I'm wondering if you are living in much more expensive homes due to higher COL, BUT also if perhaps you like to have a more expensive house than some might choose (nothing wrong with that at all) Dude, you already have a wood floor. Just ...
by Mitchell777
Sun Nov 13, 2022 6:28 am
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

Thanks for the prior five additional replies regarding LVP. I wonder what houses cost in your areas? I always say I live in a LCOL to MCOL area but I think by some BH's I'm in a very LCOL area. Prior to this very recent increase in housing prices, in my area, one could buy a 3/4 BR 1.5/2 Bath home on .25 acre for $175K to $225K. Houses with plaster walls, hardwood floors, many with slate roofs. $1M houses exist but are rare. Selling a house is often about being in an affordable price range in my area. So, I'm wondering if you are living in much more expensive homes due to higher COL, BUT also if perhaps you like to have a more expensive house than some might choose (nothing wrong with that at all)
by Mitchell777
Mon Nov 07, 2022 1:19 pm
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

I appreciate all the replies. This site has always amazed me with the knowledge members possess. One of the things I came away with from the comments is that considering the person who will live with the flooring is as important as the flooring itself. Any flooring will get marked, scratched or dented over time. I know those things bother me more than most people. Not because I'm picky about quality but more so that I'm obsessive. In addition, as I age I'm finding there are items around the house I could move or lift five years ago and now I cannot, and this will get more difficult as I get older regardless of how much I exercise. Add to that having no young relatives to occasionally help with things around the house. Thanks again and if yo...
by Mitchell777
Sun Nov 06, 2022 9:01 am
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

SlowInvestor wrote: Sun Nov 06, 2022 6:15 am How much time do you have before living in the house after the project is complete? Refinishing hardwood is probably preferred by most but you have to take the coating curing time and the the time for the VOC to dissapate.
I have not considered that. I did have a Flooring estimator tell me the furniture would need to be kept off the floor 5 days or so after refinishing but no mention of not living in the house for any period of time
by Mitchell777
Sun Nov 06, 2022 8:58 am
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

Pinotage wrote: Sun Nov 06, 2022 8:50 am I would also stick with refinishing the hardwood floors.

In character with the house, can likely be refinished again in the future, and honestly I just like them.

Consider - there is a reason the marketing machine has come up with "LVP".

Ever heard of LHW?
I have not and do not see anything on line re LHW. Could you explain what it is please
by Mitchell777
Sat Nov 05, 2022 4:44 pm
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Re: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

Savin - I do not know what type of wood it is. I know the wood on the 1st floor looks different than the wood on the 2nd floor. But both have 2.25" wide boards which is much more narrow than the hardwood and LVF appearance that I found in the stores. I was told the market now prefers the wider board look but who knows. I do not know if it's just my area but there are very few people here who refinish hardwood, at least do it for a living. There is a min 12 week lead time to have it done.
by Mitchell777
Sat Nov 05, 2022 1:29 pm
Forum: Personal Consumer Issues
Topic: Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)
Replies: 47
Views: 6533

Luxury Vinyl Plank (LVP) vs Refinishing Hardwood (HW)

I have visited a couple flooring stores in my area, read a lot on line, and read old BH posts (that were quite good). I need to replace carpeting in two rooms (500 Sq ft). Due to allergies, I do not want to use carpeting. My initial thought was to refinish the original HW floors (house was built in 1938 and has the original HW floors). My concern is that one type of carpeting or another has been on these floors for 50+ years. Prior occupants always had dogs and there was a small area of termite damage in another room (whole house remediation was done). So, I do not know the condition of the original HW floor (If it's not good, my decision is made for me). That got me to the other options of purchasing HW or LVP. Due to cost I'm going with L...
by Mitchell777
Sun Oct 23, 2022 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Medicaid help
Replies: 25
Views: 2244

Re: Medicaid help

I hate to be the wet blanket on all the "nursing home can help" advice, but I'd recommend an elder law attorney specializing in Medicaid. You don't want to 'screw up' a Medicaid application. Could you say more about how one can "screw up" a Medicaid Long-Term Care application? It's pretty much just a list of assets and income, spouse and veteran information, and a lot of numbers.... I think others have already answered your question. But the elder law attorney I spoke with after DW's stroke inferred it could be a real hassle resubmitting a Medicaid application if you mess up the first one. His actual words were, "You only get one chance." But I suspect he was just trying to stress the importance of doing it ri...
by Mitchell777
Wed Oct 19, 2022 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Help understanding doctor bill
Replies: 26
Views: 2343

Re: Help understanding doctor bill

My doc does this also because we discuss things beyond the Wellness visit parameters. However, he is with me for more than 10 minutes. Probably at least 20 min