Still not seeing where your contributions to a Roth are affected by size of rollover.
Is the restriction on contributions based on income? (I'm not asking about Roth conversions)
Still not seeing where your contributions to a Roth are affected by size of rollover.
Not worried about the asset protection differences.lakpr wrote: ↑Thu May 23, 2019 11:33 amI can think of two reasons easily.
Asset protection in 401k plans is much stronger than in individual IRAs.
If your income is in the 24% federal tax bracket, you are also likely bumping up against limits to contribute to Roth IRA directly; in that case having a large traditional Rollover IRA will also shut you out of being able to contribute to Roth.
This.btenny wrote: ↑Sun May 19, 2019 11:26 am Go read government publication 590 on IRA. I think you need to start ira rmds this year and use Table 1 for your age. So I think you need to take a rmd of 1/48.5 or slightly more than 2%. Read carefully. Pay attention to see when first year rmd is required vs date of death.
Sorry for your loss.
I ran across this Forbes article and learned a few things (mainly that there is a lot of red tape and potential pitfalls to filing a claim)Index Fan wrote:I'd be very interested in seeing how often LTCi actually pays when it is needed. I've seen quite a few (admittedly anecdotal) stories about people who paid for LTCi for years and then when it was needed all sorts of roadblocks and denial of claims came from the insurance company. If someone who is incapacitated doesn't have a strong advocate to fight for claims when they need it, the results may be even worse.
Admission: I used to have LTCi but stopped the policy due to such concerns.
And there is the moral hazard that insurance companies face (disability, dental, LTC & health especially). Folks that have the policy are more likely to show up as recipients of care because they have the insurance. Folks that don't have insurance may never show up as receiving care...therefore they may skew the numbers even more.pshonore wrote:My Genworth agent told me that 70% of their LTC claim $ get spent on other than nursing homes. (assisted living, in home care, etc.)
Now explain to OP what a Ponzi scheme is, and how described stuff in OP is not a Ponzi scheme.denovo wrote:
P.S. I know enough about indexed annuities, whole life, and structured products to know that these are products that are meant to be sold and not to be bought.
You/he/we don't know enough (and we certainly don't know enough) to be giving them advice.denovo wrote:Is this sarcasm? How is this great for them?TN_INVEST wrote:LAlearning wrote:Sounds great for them. I would move along.
Yup
Sound advice for most folks of any age. Especially if you aren't a heavy cell-tower data user (non-wifi, that is).bloom2708 wrote:Buy a Sprint iPhone 4 (~$70 for a nice used one). Put it on Ting.com. Disable data. Have her use Wi-Fi for data needs.
The bill should be around $10/month ($6 + usage). Their pay as you go plan should allow your plan to "grow" with your daughter.
dickenjb wrote:Reminds me of Mark Twain's advice on stocks:
Buy a stock and sell it when it goes up.
If it doesn't go up, don't buy it.
I'd be shocked if they weren't.Balanthalus wrote: Are surrender charges different for contributions made at different times? I have been unable to find an answer to this question by searching the forum or elsewhere on the Web.
I don't have the answer, but here's something to think about: there is a fair chance that if/when you do get disabled, you may have lots of deductible medical bills that could drive your effective tax rate even lower.EmergDoc wrote:If I was offered pre-tax premiums, I'd take them. There's a 6/7 chance you won't ever get benefits, but the pre-tax premiums are guaranteed. Plus, those benefits will be much less taxed than your current income, since it'll be a lot less income. A bit of arbitrage there really. This assumes you can get enough coverage of course. If you can't you may have to take the after-tax option.
Cost is only an issue when value is in question.jcman01 wrote:
Would a fee-only advisor be worth the money, and what is the fee structure? Interesting in hearing opinions and experiences.
celia wrote:I assume you mean Long Term Care Insurance.TN_INVEST wrote: if it helps folks get over the mental block of buying health insurance,
I'd tread lightly as to not over-step the boundaries of your friendship.Cautious Optimist wrote:He dismissed me.
As will the premiums and I bet the "value" of said life insurance will "increase" 20 years for now (most folks value their insurance a lil more once they get a few gray hairs). I just don't see a lot of 50 year old folks anxious to cancel a life insurance policy that was costing virtually nothing (the good news is that with a 30 year term, the policy owner has the option to keep or cancel).YttriumNitrate wrote:How boglehead-ish are you with your savings rate? I was thinking about going with the 30 year term instead of the 20 year term until I realized that if I make it another 20 years the amount I'm getting insured for will likely be chump change.
Very few things are black and white (especially finances).Elks22 wrote:All, I really appreciate these replies. Sounds like we have some thinking to do and it's not black and white in terms of choosing an amount/term. I do wish we had shopped around better for our current $250k term but oh well, we've learned. Thanks again.
I'm pretty sure you will need to take the 65 & register with any state that you have clients as a Registered Investment Advisor before you can charge folks for advice. Most states don't require you to pay registration fee until you get a few clients in that state (not always the case with all 50 states).nobsinvestor wrote: Does this mean that as long as I take the Series 65 and register in my state and with the SEC, I can offer fee-only advice to any number of clients anywhere in the US?
Thanks guys!!
MarieL wrote:Hi folks - My husband and I just purchased our first condo and we're trying to understand the pros and cons of making early payments on our mortgage.
They will look back before paying for anything.richard wrote:Does the Medicaid five-year look back on asset transfers apply only to nursing home eligibility or does it apply generally, including to home care eligibility?
js2012 wrote:I
My understanding of the ESA is that the money is in her name and she gets it at 18. If she doesn't go to school, it seems like she would still get the money.
Why not use online bill pay? Seems like every bank offers that service. I save lots on stamps and check refills by using my bank's online service.guitarguy wrote:Good enough, thanks for the advice all.
I won't bother taking time to make the extra payment mid-month, especially since I'll have to write and mail a check to do it. Not worth my time and the cost of a stamp for such a small amount of savings.
A scale?Austintatious wrote:Since we've had mention of the utility of gold in cases of societal breakdown, can anyone explain how that gold would be converted into usable increments? Let's say, I've set aside some 1 ounce bars or some gold coins, buried in the backyard and certainly NOT stashed in that safe deposit box, that I intend to use in the coming catastrophe. How do I convert them into a unit of value with which I can buy something edible for my beleaguered loved ones, or a few pieces of firewood to cook it with? I've always had trouble understanding how that would work. Thanks!
Perhaps.bottlecap wrote:With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs.
JT
My thought: There is virtually no downside to keeping $1,000 in your local bank. Now, carry on.schoolboyguy wrote:
Thoughts?