Search found 675 matches

by plannerman
Fri Oct 05, 2018 6:35 am
Forum: Personal Consumer Issues
Topic: Black suit with dark brown shoes?
Replies: 59
Views: 4065

Re: Black suit with dark brown shoes?

What's the problem? They will just assume you are an engineer:)

plannerman
by plannerman
Tue Sep 25, 2018 10:06 am
Forum: Investing - Theory, News & General
Topic: Don't Fear the Reaper (RMDs) - White Coat Investor blog post
Replies: 65
Views: 7650

Re: Don't Fear the Reaper (RMDs) - White Coat Investor blog post

I hope to have the kind of "problems" that force me to pay taxes on money I don't need. That is all well and good until you find out you are paying hundreds of dollars a month in Medicare Part B and D IRMAAs, paying taxes in a higher bracket that you otherwise would be in, as well a phasing out of ...
by plannerman
Thu Sep 20, 2018 7:57 am
Forum: Personal Consumer Issues
Topic: Where do you buy CPAP replacement parts?
Replies: 50
Views: 3551

Re: Where do you buy CPAP replacement parts?

After paying a small co-insurance amount to Apria Healthcare, I read the bill and saw that as a Medicare member, I can get my supplies for free. I called them, and apparently my supplies will be provided from now on. Wheeee! Is this accurate? I have been on Medicare for 10 years and always paid a 2...
by plannerman
Mon Aug 13, 2018 7:40 am
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4747

Re: How to have “what if” discussion with retired parents?

My parents are in their mid-70’s. No current financial concerns: • house is paid for • drawing SS • taking out RMD’s • not big spenders • Dad continues with a very part-time consulting business, to stay mentally active in his line of work • The vast majority of their assets are in individual stocks...
by plannerman
Wed May 09, 2018 7:06 am
Forum: Personal Consumer Issues
Topic: Do you know anyone unhappy in a CCRC?
Replies: 41
Views: 5155

Re: Do you know anyone unhappy in a CCRC?

Every CCRC is different. You have to do your homework. One of the more compelling reasons we chose the CCRC we did was because every resident we talked to was generally happy. We were fortunate because several acquaintances from our community had previously moved to the same CCRC and had shared thei...
by plannerman
Mon Apr 30, 2018 8:02 am
Forum: Investing - Theory, News & General
Topic: Kiplinger article "..Guaranteed Inheritance for Kids"
Replies: 53
Views: 6173

Re: Kiplinger article "..Guaranteed Inheritance for Kids"

"They could have done nothing and let the IRA stay in stocks and bonds, and maybe it would have doubled on its own over time." More likely to quadruple over time. We don't know how old Jim's wife is, but we know she's younger and healthy. A life expectancy of 20 years is reasonable. $600k at a conse...
by plannerman
Mon Apr 30, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage vs. Supplemental
Replies: 77
Views: 8509

Re: Medicare Advantage vs. Supplemental

"One thing which has puzzled me is that they now describe a subtle pressure by the MA plan via phone calls and correspondence to schedule an in-home physical. I have read that MA plans try to arrange these physicals primarily in order to identify undiagnosed conditions, which increases the reimburse...
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: 6263

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: 918

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: 918

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: 918

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: 918

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: 918

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: 918

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: 9638

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: 9638

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: 70
Views: 10252

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: 2319

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: 9638

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: 21
Views: 2352

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: 8201

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: 1798

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: 9806

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: 1029

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: 11993

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: 779

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: 2915

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: 1052

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: 3010

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: 763

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: 763

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: 18847

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: 453

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: 573

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: 2708

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: 7839

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: 77
Views: 8509

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: 6131

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: 3781

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: 4136

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: 1308

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: 1650

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: 1650

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: 4115

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: 3596

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: 836

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: 836

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: 836

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: 836

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 ...