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Tom_T wrote: ↑Fri Mar 24, 2023 4:42 am

jmw wrote: ↑Fri Mar 24, 2023 1:39 am Only poor people take [Medicare] Advantage.

You may get some pushback on that statement.

I agree with that. Personally I'm on medigap plan G, but there are some very intelligent, and probably richer people than me here with MA.

Tom_T wrote: ↑Thu Mar 23, 2023 8:00 am ... I feel like I'll end up spending a lot more on Medigap without really needing it...

How much have you spent over your life on home owners and auto insurance without really needing it? Or life insurance?

I might occasionally throw something in a tip jar if I'm feeling good. But I don't tip individuals.

... we are considering buying a "crash pad" there for a variety of reasons and can see ourselves spending about one week about a quarter of our time there. We have never had a second residence. We will still consider our house in the rural area to be our primary residence. If we apply for Obamacare using that address in the big city, we would have many more insurance companies to choose from with better medical options as well. (There are very few doctors on our current plan that are available to us in the big city.) My questions: 1. Will doing this create any issues with the IRS regarding the subsidy we would receive from Obamacare? (Healthcare.gov would have our big city address and the IRS has our rural address.) 2. Are there ...

I trust most who use the Macrium Reflect free edition for backups have already heard it will be discontinued January 1, 2024.

So my question is, what do you intend to do:

• Continue using the unsupported free version?

• Switch to the licensed version?

• Switch to a different product?

Are you sure you bought life insurance? What you're describing "(like a CD)" sounds like a MYGA (Multi Year Guaranteed Annuity). The puzzling part is MYGAs allow you to defer your taxes until you start taking withdrawals. And that's what you expected, but apparently didn't get. Did you read your contract or phone your agent?

My goal is to get her a permanent home that is private and/or shared close to my home if needed down the road. How do I know which homes are good for her? This would be to assist her with daily activities and dementia. Medicare.gov has ratings, but they seem to change often. I suggest paying them surprise visits to see how they do when they're not expecting you. Visit nursing home after my mother is admitted? Both before and after. Surprise visit before to see how they treat the patients when nobody is watching. Regular visits after to ensure she's being cared for properly, and to provide a little cheer in her life by your presence. When my uncle was there. He had dementia. We had to sign in at the front desk to see him everyone. If you ar...

prd1982 wrote: ↑Sat Mar 18, 2023 12:36 pm

cheese_breath wrote: ↑Sat Mar 18, 2023 12:27 pm

Squirrel208 wrote: ↑Sat Mar 18, 2023 12:08 pm This recent AP article on Medicaid-funded long-term care appears to be on topic:
In nursing homes, impoverished live final days on pennies

Thank you for that article Squirrel. Something everyone who's contemplating putting a loved one om Medicaid should read.

I don't see how this is related to being on long term care Medicaid. Can't the family still give the person money?

What the family can and can't do depends on the individual state's rules

Squirrel208 wrote: ↑Sat Mar 18, 2023 12:08 pm This recent AP article on Medicaid-funded long-term care appears to be on topic:
In nursing homes, impoverished live final days on pennies

Thank you for that article Squirrel. Something everyone who's contemplating putting a loved one om Medicaid should read.

Medicare doesn’t cover 100% though? Medicare part A covers nursing home care for rehab (physical, occupational, speech therapy) and skilled nursing (IV antibiotics, wound care, tube feeding ect). Medicare covers 100% of the first 20 days, and another 80 days with a $200 / day copay (copay covered by Medicaid/coinsurance). After the rehab or skilled nursing is over (either because you don’t need it, or you hit the 100 days) then you transition to custodial care which is NOT covered by Medicare. At that point Medicaid would begin paying as primary. The nursing home is NOT allowed to kicked you out, as long as they accept payment from Medicaid. Therefore you can end up at a fairly decent skilled nursing facility for custodial care under Medic...

Medicare doesn’t cover 100% though? Medicare part A covers nursing home care for rehab (physical, occupational, speech therapy) and skilled nursing (IV antibiotics, wound care, tube feeding ect). Medicare covers 100% of the first 20 days, and another 80 days with a $200 / day copay (copay covered by Medicaid/coinsurance). After the rehab or skilled nursing is over (either because you don’t need it, or you hit the 100 days) then you transition to custodial care which is NOT covered by Medicare. At that point Medicaid would begin paying as primary. The nursing home is NOT allowed to kicked you out, as long as they accept payment from Medicaid. Therefore you can end up at a fairly decent skilled nursing facility for custodial care under Medic...

I won't know if I've over saved until I die. I know I spent mucho dolares on DW's medical care after her stroke. If something like that happens to me, then I might not have over saved.

I change mine every 25K miles whether it needs it or not.

Jags4186 wrote: ↑Tue Mar 14, 2023 8:21 am You’re presumably paying this financial planner. If you’re unwilling to follow his advice I’d consider separating from them since you don’t want to follow the plan.

He's presumably also paying the CPA. Op's two financial professionals disagree on this point. He is right in seeking additional advice rather than blindly accepting the advice of either one.

This year, my financial planner advised us NOT to contribute to a SEP-IRA at all, and to change my husband's 401K contributions to Roth, not pretax. His rationale: "...your marginal tax rate is 24%, and even when you stop working, between portfolio interest and dividends, social security, and RMD's, you project to be at or above that. Remember, the Trump tax cuts are set to sunset in 2026 so rates are as low as they may ever be. As well, we are going to be targeting Roth conversions over the next few years so it doesn't make sense to add to tax-deferred balances ..."  My accountant basically thinks this is the stupidest thing he has ever heard, i.e., "...Why pay taxes when you don't have to -- the government gives you a reti...

Family of the bride paid for it both times. Both were modest, but as long as the brides were satisfied I was too.

prd1982 wrote: ↑Sat Mar 11, 2023 7:32 pm

cheese_breath wrote: ↑Sat Mar 11, 2023 7:23 pm

prd1982 wrote: ↑Sat Mar 11, 2023 6:45 pm ... I think stopping the SS withholding will require a trip to the SS office for the wife, since SS doesn’t accept power of attorney....

Is the husband mentally incompetent? I don't know of wife has authority to do this without becoming the Representative Payee. But if husband is mentally competent, maybe SSA might send someone to the nursing home to speak to him.

Becoming the Representative Payee is why I think she needs to go to the SS office.

I thought of this after I posted the above. With Medicaid involved the nursing home will want to become the Representative Payee. Talk to them ASAP so they don't apply without your knowledge.

prd1982 wrote: ↑Sat Mar 11, 2023 6:45 pm ... I think stopping the SS withholding will require a trip to the SS office for the wife, since SS doesn’t accept power of attorney....

Is the husband mentally incompetent? I don't know of wife has authority to do this without becoming the Representative Payee. But if husband is mentally competent, maybe SSA might send someone to the nursing home to speak to him.

A potential complication to consider if they file MFJ... how do the split the refund (if there is one)? Percentage of income? Percentage of deductions? Other?

WOMoney wrote: ↑Sat Mar 11, 2023 4:56 pm

cheese_breath wrote: ↑Sat Mar 11, 2023 4:42 pm She was divorced. Now she's remarried. We know almost nothing about current spouse's finances. Am I right?

Unless they're keeping their finances separate and planning separate retirements considering their own financial situations only, you can't plan much in the dark about his financial situation.

He is high income is basically what I know. He pays for the house they live in, and all bills associated with it. This is just for planning for her retirement.

Sorry, I should have made that more clear.

Is he going to contribute to her retirement, or are they going to retire separately?

She was divorced. Now she's remarried. We know almost nothing about current spouse's finances. Am I right?

Unless they're keeping their finances separate and planning separate retirements considering their own financial situations only, you can't plan much in the dark about his financial situation.

tibbitts wrote: ↑Sat Mar 11, 2023 2:41 pm

dratkinson wrote: ↑Tue Jun 07, 2016 5:30 pm

wrongfunds wrote:I think springs costs much less than $300 to replace. So yes, this discussion is really amusing.

I believe it's more of an annoyance issue (vehicle stuck in garage/late for appointment + personal safety if you do the work yourself) than the expense as the last springs I bought were ~$50 for the pair. So finding ways (reducing opening-closing cycle count, longer-life springs) to extend time between replacements is worth the effort.

See spring price in ads: http://www.google.com/search?q=garage+door+spring

Virtually everyone outside of this forum would pay labor for replacing the springs so $300 isn't unreasonable.

Compared to the medical bills you might incur if you try it yourself it's definitely reasonable.

Tell us what state you're in, and maybe someone might be able to give more specific replys.

whyme wrote: ↑Fri Mar 10, 2023 2:30 pm ... but Turbotax tells me I should make quarterly payments this year ....

Forget what TurboTax says. TurboTax has no idea what you're going to earn this year. It's just assuming your earnings and deductions will be about the same as last year.

If you use TurboTax or other tax program and have the correct inputs, it will figure it out for you.

Mighty Mites are great. I used to have one for my basement to clean up 'whatever' was down there. Spiders didn't stand a chance against it.

I'm not a CPA, but this doesn't seem like it to me. It's the penalty for not upholding their end of the contract.

No regrets whatsoever. DW and I both took it at 62. We needed money to live on, and it was either take SS or draw from investments. The markets were way down in both cases when we turned 62, so we decided not to draw on he investments at that point. The markets recovered nicely afterwards, providing a nice return on what we didn't take out.

dbr wrote: ↑Tue Feb 28, 2023 3:34 pm

OnTrack2020 wrote: ↑Tue Feb 28, 2023 3:12 pm You can't; you have to call them, which is ridiculous in this day and age.

It is not ridiculous for them because that way they keep you in selections or sell you new selections that make them money while heading off moving your money to a low cost index fund.

+1 It's not in EJ's best interest to allow their clients to become smart enough to make their own trades.

I bought my MS Office download directly from Microsoft. It costs more, but I know I'm getting a genuine licensed copy.

If you don't feel comfortable DIY hire the pros, and watch how they do it so you can DIY next time.

Every doctor I've ever gone to wanted to run their own tests, and I've never had a problem with Medicare denying anything.

Keeping it quiet can lead to semi-amusing exchanges with others. 1. I have a cousin who is highly skeptical that I am earning more than a moderate income. I didn’t try to disabuse him of that. 2. I have another cousin who thinks my parents support me. No one is correcting him either. 3. I have neighbors who doubt my profession. It’s a matter of public record however so they are free to think what they will. 4. I have family friends who think I earn around what a postal clerk earns. C’est la vie. 5. I had a friend who thought my mother supported me and once offered my mom the opportunity to do some sewing for extra money. 😭 Mom declined graciously. 6. My father was given $100 tip once and free gasoline on another occasion when someone paid ...

I share my financials on need to know basis, and right now nobody needs to know anything. I have a document that will tell my POA, executor nominee, and successor trustee everything if I die or become incapacitated. She knows where it is.

She's 86. Death value and cash value are the same.

Should she take it our, or leave it alone to inherit by her heirs?

I don't know, but something to think about.

Yes, you can convert part of it.

Jesus Revolution at the movie theater.

[quote=FriedOkra post_id=7138113 time=1677381499 user_id=191897
... Do I have any recourse against Merrill, or is this just another expensive object lesson in why you shouldn't trust an AUM advisor to handle your investments?
[/quote]
I think it's an expensive lesson that you shouldn't authorize or trust anybody to make trades on your account without your specific approval of each trade.

Give them to your favorite charity. They'd be glad to accept them.

2ball wrote: ↑Tue Feb 21, 2023 9:40 pm ... I don't need her pension at all...

I stopped reading right here. Take her max benefit, and enjoy yourselves.

I'd still have a very simple will in case you overlook something. If everything does turn out to be covered outside the will, then there's no need to probate it. That worked for both MIL and DW. Both had simple wills, but neither needed probate..

8301 wrote: ↑Sat Feb 11, 2023 8:06 pm

cheese_breath wrote: ↑Sat Feb 11, 2023 8:03 pm

8301 wrote: ↑Sat Feb 11, 2023 7:57 pm ... With a Roth conversion of the amount equal to an RMD...

Are you inferring you'll use the RMD for a Roth conversion? Can't do that. You have to take the entire RMD before doing any Roth conversions.

No, I am wondering whether I may use the size of an RMD as a unit of a Roth conversion. Roth conversion = alpha * RMD, then what is alpha?

Yes you may. You can make a Roth conversion in any amount you want as long as you're willing to pay the taxes. Pick whatever amount works best for you.

8301 wrote: ↑Sat Feb 11, 2023 7:57 pm ... With a Roth conversion of the amount equal to an RMD...

Are you inferring you'll use the RMD for a Roth conversion? Can't do that. You have to take the entire RMD before doing any Roth conversions.

My sister who just turned 65 two months ago was just laid off. She had previously enrolled in Medicare Part A since it was free and continued her health care insurance with her employer (since her employer covered the costs). Now that she is laid off she has her insurance for another month and is job hunting. If she signs up for Medicare Part B now and then gets a job that offers her cheaper health insurance does she need to continue paying premiums for Part B while she is using her new employer's insurance? Can she pause or unenroll from Medicare Part B after signing up? How does this work? thanks It is very possible that what a new employer offers may not be cheaper or better than what she can get with Medicare especially if she lives in...

I don't know the answer to your question, but another option might be to ask potential employers if they would not enroll her in their insurance and add part of the savings to her pay.

Just a some general comments.

How's his health? At his age it might be advisable to do nothing. THE IRAs could be realigned with no tax impacts. But it seems most of his money is in taxable, and capita gains on any sales would be subject to tax if he sells them. OTOH the basis would be stepped up to current value for the beneficiaries if he holds them till he passes. And I wouldn't be surprised if EJ imposes exit fees if he leaves them.

These aren't recommendations, just things to think about in doing your analysis.

Nicolas wrote: ↑Sun Feb 05, 2023 7:04 pm In the northern states it should help ward off road salt eating your concrete. I don’t have this treatment and I do have pitting in the concrete floor from road salt. But even so my garage still works okay so maybe it’s also just cosmetic.

Nicholas is right. Lived in houses with attached garages in Michigan more than 50 years before moving to an apartment. The only thing I ever did to my garage floors was sweep them out once and awhile, and hose them down in the spring to sweep out all the crud that accumulated over the winter.

bob60014 wrote: ↑Fri Feb 03, 2023 1:55 pm Use caution when searching Innovatus, LLC. It shows up in many places and unrelated to Innovatus Capital Partners....

I'm not sure if you're expanding on what I wrote or contradicting on it. So I'll just mention, the last line on the screen I linked to say "© 2021 INNOVATUS CAPITAL PARTNERS, LLC. ALL RIGHTS RESERVED"

OldSport wrote: ↑Fri Feb 03, 2023 12:58 pm Just had a soft credit inquiry today that I did not recognize from "Innovatus, LLC".

Does anyone recognize that? I looked back and apparently had another soft inquiry from them about 2 years ago.

Have no idea what that is. I did register & activate a new corporate credit card account earlier today, but don't think that would trigger a soft inquiry.

https://www.innovatuscp.com/

I paid off my mortgage around 2006, sold the house in 2019, live in an apartment now, and it's never affected my credit score.