Search found 668 matches

by plannerman
Wed Apr 11, 2018 7:15 am
Forum: Investing - Theory, News & General
Topic: Introduction to Treasury Inflation Protected Securities (TIPS)
Replies: 53
Views: 4668

Re: Introduction to Treasury Inflation Protected Securities (TIPS)

I think the presentation missed what I consider to be the best use for TIPS--that is for liability matching. As retirees withdrawing from our portfolio for living expenses, we are more concerned about predictable, real cash flow than income. As has been discussed on this board many times, nothing do...
by plannerman
Mon Apr 02, 2018 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Re: Residential Energy Credits-Non owned property

Okay, here's the reference in the Code that corresponds to the 2005 Act, which I believe is the citation that applies to the OP's question. 26 U.S. Code § 25C - Nonbusiness energy property Quoting from that text (emphasis mine): (c) Qualified energy efficiency improvements For purposes of this sect...
by plannerman
Mon Apr 02, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Re: Residential Energy Credits-Non owned property

OP here. Based HueyLD's Code reference that clearly states that renters can take the Residential Energy Property Credit, I intend to take it. This leads me to a second question of what is included: The instructions for Form 5695 says "For purposes of figuring the credit, don't include amounts paid f...
by plannerman
Fri Mar 30, 2018 6:22 pm
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Re: Residential Energy Credits-Non owned property

Thanks you so much. The breadth of knowledge of the posters on this board is--impressive.

plannerman
by plannerman
Fri Mar 30, 2018 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Re: Residential Energy Credits-Non owned property

You can't take the credit. From the instructions for F5695, page 2: Residential energy property costs. Residential energy property costs are costs of new qualified energy property that is installed on or in connection with your main home that you owned during 2017 located in the United States. Resi...
by plannerman
Fri Mar 30, 2018 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Re: Residential Energy Credits-Non owned property

barberakb wrote:
Fri Mar 30, 2018 2:26 pm
The way I read it would be no.

Both the first and last sentence state "your home"

IMO it isn't your home unless you own it.

But that's my guess...
I understand what you are saying, but we refer to it as "our home". Have you ever heard the expression "your home is where you hang your hat"
by plannerman
Fri Mar 30, 2018 6:07 am
Forum: Investing - Help with Personal Investments
Topic: Residential Energy Credits-Non owned property
Replies: 14
Views: 730

Residential Energy Credits-Non owned property

We recently moved into an individual cottage in a Continuing Care Retirement Community (CCRC). We do not own the cottage; the CCRC owns it. Last year, we paid a contractor to add insulation to the cottage, and I am trying to figure out if we are eligible for the Residential Energy Credit. Here's the...
by plannerman
Tue Mar 27, 2018 12:30 pm
Forum: Investing - Theory, News & General
Topic: How old were you when you started spending your “principal”?
Replies: 90
Views: 8087

Re: How old were you when you started spending your “principal”?

I Retired in 1999 at age 56. On a nominal basis my portfolio went below its starting level for the first time in July 2002 and again in February 2009. Today it's 1.95 the nominal starting value. On a more important real basis, it went below the starting level on Sept 2001, June 2002, September 2008...
by plannerman
Mon Mar 26, 2018 4:11 pm
Forum: Investing - Theory, News & General
Topic: How old were you when you started spending your “principal”?
Replies: 90
Views: 8087

Re: How old were you when you started spending your “principal”?

I Retired in 1999 at age 56. On a nominal basis my portfolio went below its starting level for the first time in July 2002 and again in February 2009. Today it's 1.95 the nominal starting value. On a more important real basis, it went below the starting level on Sept 2001, June 2002, September 2008...
by plannerman
Mon Mar 26, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Review of tax software for trusts and estates
Replies: 69
Views: 8477

Re: Review of tax software for trusts and estates

[/quote]

1) TurboTax Business changed my Trust type in 2016 without warning which changed the exemption amount from $4,050 to $100 (big affect on tax owed).
[/quote]

Simple trusts get $300 exemptions
Complex trusts get $100 exemptions

What kind of trusts get $4,050 exemptions?

plannerman
by plannerman
Mon Mar 26, 2018 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Costs, Pros, & Cons of CCRC - Continuing Care Retirement Communities - Aging in Place. Pitfalls?
Replies: 11
Views: 1633

Re: Costs, Pros, & Cons of CCRC - Continuing Care Retirement Communities - Aging in Place. Pitfalls?

The initial buy-in price at our CCRC was based on the choice of dwelling--cottage, villa or, different sizes of apartment. In addition, our CCRC had multiple buy-in options. For example, these are made up numbers, $500k with no return, $750k for a 50% return, or $1M for a 90% return of the buy-in. T...
by plannerman
Sun Mar 25, 2018 4:57 pm
Forum: Investing - Theory, News & General
Topic: How old were you when you started spending your “principal”?
Replies: 90
Views: 8087

Re: How old were you when you started spending your “principal”?

I Retired in 1999 at age 56. On a nominal basis my portfolio went below its starting level for the first time in July 2002 and again in February 2009. Today it's 1.95 the nominal starting value. On a more important real basis, it went below the starting level on Sept 2001, June 2002, September 2008 ...
by plannerman
Tue Mar 06, 2018 7:29 pm
Forum: Investing - Theory, News & General
Topic: Medicare IRMAA
Replies: 19
Views: 1666

Re: Medicare IRMAA

Can't you simply wait until 2024 to cash them in. Or just cash in enough in 2022 and '23 to get you up to the IRMAA cliff.

plannerman
by plannerman
Tue Mar 06, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6982

Re: Another "Should I self-insure" for LTC Question

I don't want to sound like a broken record, but there is another alternative. If you are a 71 year old widow, and not already in a retirement community situation, you need a plan on where you are going to live out your remaining golden years. I suggest you look into CCRCs with "Life care". The commu...
by plannerman
Tue Mar 06, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need umbrella insurance?
Replies: 21
Views: 1555

Re: Do I really need umbrella insurance?

There have been lots of discussions about umbrella insurance here. I personally don't subscribe to the notion you need an amount of liability insurance that matches your networth. I subscribe to the idea you need enough coverage for the insurance company to put up a spirited defense. I recently move...
by plannerman
Wed Feb 21, 2018 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 8047

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

$3,053/month for ACA medical insurance coverage which covers very little seems unreasonable. Each of my infusion treatments for my cancer costs over $21,000. In the past two months, I've had 6 so far. Over the next year, I'll have at least 4 more. And that's not even counting all the doctor visits,...
by plannerman
Mon Feb 05, 2018 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: How can we find the occupancy rate of a Continuing Care Retirement Community
Replies: 6
Views: 859

Re: How can we find the occupancy rate of a Continuing Care Retirement Community

In this area, if a CCRC doesn't have a waiting list, you probably don't want to move there. The better CCRCs, those with the nicest facilities, good staffing and excellent financials all have occupancies in the high 90%s and multiyear waiting lists. The CCRC we are in, for example, has over 1000 peo...
by plannerman
Sun Jan 28, 2018 8:33 am
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 10506

Re: The biggest problem in retirement is spending (not)

Too early in the morning to wade through the details of this study, but two questions that come to mind that I didn't find the answer to in my quick read: 1) Are the assets reported real or nominal? 2) Are they adjusted for taxes--i.e., Roth IRA assets are worth more that Traditional IRA assets? pla...
by plannerman
Sun Jan 21, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Insurance - Replacement Cost
Replies: 9
Views: 604

Re: Insurance - Replacement Cost

Just keep in mind, that if a State Farm agent comes out, his or her primary mission will not be the calculate the replacement cost of your house but rather to sell you something you probably don't need.

planneman
by plannerman
Fri Jan 05, 2018 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard: No more buy/sell transactions in writing?
Replies: 31
Views: 2653

Re: Vanguard: No more buy/sell transactions in writing?

This can't possibly mean what it seems to say. If so, how would one mail in a check. Without a letter of instruction or investment form, how would Vanguard know what to do with the check? Seems crazy!!!!

plannerman
by plannerman
Thu Dec 28, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Single member LLC retirement plan?
Replies: 10
Views: 836

Re: Single member LLC retirement plan?

Hope others will correct the areas I am incorrect, but will try my hand at this in a simple explanation. I have a solo physician practice and have a solo 401k. If she is a single member LLC then she is considered as a disregarded entity and is taxed the same as a sole prop, i.e. via your ordinary t...
by plannerman
Tue Dec 19, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Personal finance software / Alternatives to Mint.com
Replies: 21
Views: 2499

Re: Personal finance software / Alternatives to Mint.com

Have you looked at "Moneydance"? I use it to track our expenses. I can't tell you if it downloads transactions from Capital one or not, but it downloads transactions from Citi card and our bank.

plannerman
by plannerman
Thu Nov 30, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible Expenses Paid by Credit Card--Timing
Replies: 6
Views: 643

Re: Deductible Expenses Paid by Credit Card--Timing

Thanks--Pub 17, I'm suitably embarrassed.

Steve
by plannerman
Thu Nov 30, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Deductible Expenses Paid by Credit Card--Timing
Replies: 6
Views: 643

Deductible Expenses Paid by Credit Card--Timing

I have large, deductible medical expenses incurred in 2017 that I would like to pay with a credit card in 2017. The credit card payment is due and will not be paid until 2018. I did a quick google search and the consensus is that this expense is deductible on my 2017 tax return. Can anyone point me ...
by plannerman
Tue Nov 21, 2017 8:34 am
Forum: Investing - Theory, News & General
Topic: Liability Matching Portfolio? Really?
Replies: 104
Views: 17375

Re: Liability Matching Portfolio? Really?

Hi plannerman, I like this approach. I am planning to do similar thing. Do you include the TIPS ladder amount as part of fixed income when you calculate the target asset allocation. Or the target asset allocation is aside from the TIPS ladder bucket. Now that this post is relatively old. Have you m...
by plannerman
Mon Nov 13, 2017 9:47 am
Forum: Personal Finance (Not Investing)
Topic: IRA and 401K Required Mandatory Distribution (RMD)
Replies: 3
Views: 385

Re: IRA and 401K Required Mandatory Distribution (RMD)

I hope you meant RMDs plural. One from each 401(k) and at least one from all IRAs.

plannerman
by plannerman
Wed Nov 08, 2017 8:38 am
Forum: Personal Consumer Issues
Topic: Questions about durable power of attorney in PA
Replies: 3
Views: 480

Re: Questions about durable power of attorney in PA

I believe most states have statutory, fill-in-the-blanks, POA forms, Just google it you will get plenty of hits.

plannerman
by plannerman
Sun Nov 05, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Trade QUICKEN for Spreadsheet
Replies: 28
Views: 2263

Re: Trade QUICKEN for Spreadsheet

LadyGeek wrote:
Sun Nov 05, 2017 9:36 am
I've switched to Moneydance. It works on Windows, Linux, and Mac. While I don't own a Mac, I can confirm that it works fine across Windows and Linux.
+1

plannerman
by plannerman
Sat Nov 04, 2017 9:40 am
Forum: Personal Consumer Issues
Topic: GoDaddy - Any better options for website hosting?
Replies: 69
Views: 7292

Re: GoDaddy - Any better options for website hosting?

This is a timely post for me. I am the default (I don't know nuthing but it's more than other members know) website administrator for a small non profit social club. I am in the process of updating our website. The developer I use hosts the website (I least I pay him to). He has changed his business...
by plannerman
Mon Oct 16, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage vs. Supplemental
Replies: 58
Views: 5112

Re: Medicare Advantage vs. Supplemental

Here in Western NC, the largest insurer in the state, BCBS NC, and the largest hospital system, Mission, have had a falling out--the hospital is no longer in network for BCBS. As I understand it, this does not affect traditional Medicare/Medigap patients but does affect those with BCBS Medicare Adva...
by plannerman
Sun Aug 27, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Self insure vs Medigap when on "traditional" Medicare
Replies: 73
Views: 5566

Re: Self insure vs Medigap when on "traditional" Medicare

We have high deductible Medigap plans. So we self insure for out of pocket costs of up to $2200 each per year. These seems like a more rational solution than self insuring for unlimited medical expenses.

plannerman
by plannerman
Sun Jul 16, 2017 6:20 pm
Forum: Personal Consumer Issues
Topic: Anyone have a second home in The NC mountains?
Replies: 25
Views: 3414

Re: Anyone have a second home in The NC mountains?

I have a house for sale in Flat Rock in a nice gated golf community if you are interested:) Asheville, Flat Rock, Hendersonville and Brevard are all nice towns, but are not the summer destinations for most people trying to escape the oppressive heat of the low country. You should be looking a little...
by plannerman
Sat May 27, 2017 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: New car doc fees
Replies: 42
Views: 3753

Re: New car doc fees

Thanks for the replies. The model I was looking at had incentives, 4000 for cash, 6000 if financed. I could finance as little as 6000 and still be eligible for the 6000. The rate was 4.9% and I was told after 90 days I could pay off the loan with no prepayment penalties. Seems worth it but I have s...
by plannerman
Fri May 19, 2017 7:09 am
Forum: Investing - Theory, News & General
Topic: Request for review of a proposed Wiki article on SIPC protection of mutual funds
Replies: 10
Views: 1172

Re: Request for review of a proposed Wiki article on SIPC protection of mutual funds

Can you provide any (recent) examples where SIPC actually provided protection for investors?

plannerman
by plannerman
Thu Apr 27, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: CCRC Tax Deduction?
Replies: 14
Views: 1439

Re: CCRC Tax Deduction?

In our case, about $100,000 of the entry fee and about $1,000/mo of the ongoing fee is a qualified medical expense. Whether it is deductible depends on your AGI. plannerman The year the entry fee was paid should generate a medical deduction even with the 10% of AGI floor. Did the facility give you ...
by plannerman
Thu Apr 27, 2017 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: CCRC Tax Deduction?
Replies: 14
Views: 1439

Re: CCRC Tax Deduction?

In our case, about $100,000 of the entry fee and about $1,000/mo of the ongoing fee is a qualified medical expense. Whether it is deductible depends on your AGI.

plannerman
by plannerman
Tue Apr 04, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan F Increases
Replies: 37
Views: 3568

Re: Medigap Plan F Increases

High deductible Plan F in NC, $432, times two for spouse. Slight decrease from 2016.

plannerman
by plannerman
Thu Mar 30, 2017 8:22 am
Forum: Personal Consumer Issues
Topic: BEHR Premium Deckover
Replies: 12
Views: 2644

Re: BEHR Premium Deckover

I put Deckover on a weathered 17-year old, treated, SYP deck three years ago and it has held up very well. I am extremely pleased with the result. We are in NC, so that might make a difference as well as the preparation.

plannerman
by plannerman
Fri Mar 17, 2017 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Individual 401(k) tax question.
Replies: 7
Views: 733

Re: Individual 401(k) tax question.

Is the converse true? That is, can you use the compensation (earned income in the case of a self employed individual) used for a traditional Individual 401(k) deferral for a Roth IRA contribution? That is really my question. No, as I explained. A traditional pre-tax deferral whether by a self-emplo...
by plannerman
Thu Mar 16, 2017 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Individual 401(k) tax question.
Replies: 7
Views: 733

Re: Individual 401(k) tax question.

You missed livesoft's first point by focusing on his second point. IRA contributions require compensation. Roth 401k deferrals do not reduce compensation. Therefore, you can still use the compensation used for Roth 401k deferrals to make IRA contributions. This is not just true for the self-employe...
by plannerman
Thu Mar 16, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Individual 401(k) tax question.
Replies: 7
Views: 733

Re: Individual 401(k) tax question.

livesoft wrote:I think the answer is Yes, one can double dip.
It's not really double-dipping if one (or one's spouse) has enough income to cover the Roth IRA contribution, too.
No spouse, no other earned income.

planerman
by plannerman
Thu Mar 16, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Individual 401(k) tax question.
Replies: 7
Views: 733

Individual 401(k) tax question.

This question has been asked here before, but to the best of my knowledge, never answered. When calculating the maximum elective deferrals and employer nonelective contribution amounts to an Individual 401(k) for a self employed individual, does making a Roth IRA contribution effect either of those ...
by plannerman
Sat Mar 11, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Taxation of Irrevocable Trust Income
Replies: 44
Views: 3193

Re: Taxation of Irrevocable Trust Income

Most states have adopted some form of the Uniform Prudent Investor Act (UPIA). At the risk of oversimplifying, the UPIA specifies what fiduciaries need to do to manage trust assets. I suggest all trustees should be generally familiar with the provisions of the specific statute adopted by the state w...
by plannerman
Fri Mar 10, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Taxation of Irrevocable Trust Income
Replies: 44
Views: 3193

Re: Taxation of Irrevocable Trust Income

Gill,

Thanks, you gave a lot to think about.

plannermn
by plannerman
Thu Mar 09, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of Irrevocable Trust Income
Replies: 44
Views: 3193

Re: Taxation of Irrevocable Trust Income

... I am the trustee of a trust resident in a state which has adopted the 1997 version of the Uniform Principal and Income Act (UPIA). In this trust the income beneficiary is also the remainderman. The trust states that the income is to be distributed annually to the beneficiary and 50% of the prin...
by plannerman
Thu Mar 09, 2017 8:59 am
Forum: Investing - Theory, News & General
Topic: Rekenthaler: My Asset Allocation
Replies: 21
Views: 2722

Re: Rekenthaler: My Asset Allocation

It will be interesting to see what, if any, his glide path is as he approaches decumulation in retirement.

plannerman
by plannerman
Thu Mar 09, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Taxation of Irrevocable Trust Income
Replies: 44
Views: 3193

Re: Taxation of Irrevocable Trust Income

You can't do this if the trust mandates current income distribution. The trust instrument must give the trustee power to accumulate income for you to do this. Gill Gill, I have a couple of questions about the above statement I'm hoping you can help me sort out. I am the trustee of a trust resident ...
by plannerman
Mon Feb 27, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about Medicare Part D cost estimates
Replies: 10
Views: 1210

Re: Questions about Medicare Part D cost estimates

Are you sure you are looking at the right numbers? The coverage gap in 2016 started at $3,310 and ended at $4,850. Also the coverage gap is based on what your dad and the drug company spent on the drugs not on just his out of pocket costs. From the Medicare website: "Items that count towards the cov...
by plannerman
Wed Feb 22, 2017 6:10 pm
Forum: Personal Consumer Issues
Topic: Dishwasher suggestions. LG Quad Wash vs???
Replies: 43
Views: 4886

Re: Dishwasher suggestions. LG Quad Wash vs???

Bought a LG dishwasher a couple of months ago because it was the only one that would fit. I'll spare you the long story. Pros--very quiet and gets our dishes clean with a very short cycle. Cons--no heated drying cycle, which isn't as bad as it sounds particularly if you let the dishes sit over night...