Search found 873 matches

by donall
Sat Nov 16, 2019 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: A sad tale with a good ending ["Preferred" pharmacies vs "non-preferred"]
Replies: 14
Views: 1313

Re: A sad tale with a good ending ["Preferred" pharmacies vs "non-preferred"]

Yes also learned about Preferred Pharmacies the hard way years ago when buying drugs for a relative. Previously only knew about in or out of network categories.
by donall
Sun Nov 10, 2019 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Cashing EE bonds
Replies: 12
Views: 589

Re: Cashing EE bonds

Don't forget to deduct taxes. What does this mean? Gill My oldest bond is worth today $199.32, which is $149.32 gain from the time of its purchase (I paid $50). My assumption is that, if I cashed it today, a bank would give me $199.32 in cash and next year send me a 1099 form for $149.32 income. Pl...
by donall
Sun Nov 10, 2019 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Seller's agent not letting us use a buyer's agent
Replies: 122
Views: 10498

Re: Seller's agent not letting us use a buyer's agent

An attorney should be able to provide guidance with this situation.
by donall
Sat Nov 09, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Default
Replies: 13
Views: 1239

Re: Long Term Care Insurance Default

The long term care company a relative had a policy with went was insolvent when services were needed. No issues with approval or payment, though the total amount paid was less than the maximum amount.
by donall
Wed Nov 06, 2019 7:56 pm
Forum: Personal Investments
Topic: What can I do with an annuity in a retirement plan?
Replies: 7
Views: 777

Re: What can I do with an annuity in a retirement plan?

jimishooch wrote:
Wed Nov 06, 2019 2:40 pm
start with the 401k administrator for instructions and then to TIAA...
good luck
jim
Often for annuities, the spouse will have to sign a paper allowing the transfer. Trustee to trustee transfers may also not happen, rather you may get a check in the mail.
by donall
Tue Nov 05, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Pay down 7% 403b loan or 3.74% car loan first?
Replies: 38
Views: 2035

Re: Pay down 7% 403b loan or 3.74% car loan first?

OP, you need to check your 403b loan papers. Most 40b loans are for 5, and rarely up to 15 years. The 30 years is very unusual.
by donall
Sat Nov 02, 2019 9:26 am
Forum: Personal Finance (Not Investing)
Topic: ACA - end of year move to another state, kids in college elsewhere
Replies: 11
Views: 945

Re: ACA - end of year move to another state, kids in college elsewhere

For ACA marketplace insurance you should always use all members of your family that are eligible, as your premium will be lower. Because your kids are dependents, then they should be on the ACA application. But kids can get individual policies outside of the ACA family policy. On the application, a ...
by donall
Fri Nov 01, 2019 9:37 pm
Forum: Personal Consumer Issues
Topic: Has anyone issued a private mortgage?
Replies: 15
Views: 1820

Re: Has anyone issued a private mortgage?

I think it is a bad idea. But if do, Make sure you file the mortgage papers with the county clerk. Also make sure you have house insurance for a vacant house.
by donall
Mon Oct 21, 2019 7:57 pm
Forum: Personal Investments
Topic: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes
Replies: 27
Views: 3009

Re: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes

Although TRS has a low funding percentage of 40% currently, the legal protections are very strong. The Illinois Supreme Court gave a unanimous decision reaffirming pension protections in 2015. Assuming your wife is in Tier 1, figure on all the years already worked at 100% of what is currently writte...
by donall
Mon Oct 14, 2019 1:40 pm
Forum: Personal Investments
Topic: Newly widowed MIL requests help w/ finances and annuities
Replies: 20
Views: 1664

Re: Newly widowed MIL requests help w/ finances and annuities

Your MIL is lucky that she has children and relatives who are looking out for her. There is a lot that goes on in the first month after a death, so making financial changes can wait for a month. - agree with others to not allow changes to account without approval. The financial consultant is really ...
by donall
Sat Oct 12, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: 37% Estate Income Tax. Ouch!
Replies: 7
Views: 1614

Re: 37% Estate Income Tax. Ouch!

I would recommend speaking to an accountant who specializes in filing 1041s. As already said, accountants can find expenses to offset any income from the estate. Estate income is any income after death. So if the savings bonds are redeemed, there is interest income for the estate. Estate income is t...
by donall
Tue Oct 08, 2019 1:51 pm
Forum: Personal Investments
Topic: Roth conversion
Replies: 48
Views: 4548

Re: Roth conversion

Thanks! This paragraph also indicates converted Roth not added to MAGI. Does that mean that a converted Roth is not included in MAGI for IRMAA?
by donall
Tue Oct 08, 2019 1:35 pm
Forum: Personal Consumer Issues
Topic: On-Going Dishwasher Issues
Replies: 23
Views: 1723

Re: On-Going Dishwasher Issues

Find model number of dishwasher you plan to buy. Search for Bosch model number and installation instructions. Check out electrical requirements such as on page 7 of this pdf. https://media3.bosch-home.com/Documents/5602051191_A.pdf I would have installers follow those directions. I would not feel co...
by donall
Tue Oct 08, 2019 11:57 am
Forum: Personal Investments
Topic: Roth conversion
Replies: 48
Views: 4548

Re: Roth conversion

Copied from: https://budgeting.thenest.com/can-continue-contribute-ira-convert-roth-ira-27284.html Conversion Doesn't Affect MAGI Roth IRAs limit your ability to contribute if your modified adjusted gross income is too high. However, even though your Roth IRA conversion counts as taxable income, it ...
by donall
Mon Oct 07, 2019 10:04 pm
Forum: Personal Consumer Issues
Topic: Question on a concrete driveway
Replies: 15
Views: 1627

Re: Question on a concrete driveway

Driveways usually fail if the gravel foundation is not prepared well or deep enough. So don’t skimp on the preparation. Rebar cost so little so better to overdesign than
Underdesign.
by donall
Fri Oct 04, 2019 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: gifting
Replies: 30
Views: 2040

Re: gifting

Just a question, if you gift the full amount of 11 million, what happens when the estate amount decreases and then you die?
by donall
Fri Oct 04, 2019 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances-Today
Replies: 107
Views: 8405

Re: Wedding Finances-Today

We gave dd $35K for her wedding to use however she wanted. We could not afford more, as we also had to pay the same amount for another child’s wedding. Best decision we ever made was not to be involved with the wedding planning as there would have been a clash with the boglehead mentality and dd’s v...
by donall
Sun Sep 15, 2019 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can I transfer part of a Solo 401(k)?
Replies: 17
Views: 1068

Re: Can I transfer part of a Solo 401(k)?

Yes! Just make sure the transfer is non taxable such as a trustee to trustee transfer. If you have a spouse they will have to also sign a form.
by donall
Fri Aug 23, 2019 9:36 pm
Forum: Personal Investments
Topic: How should I teach Max my 27 year old son about mutual funds?
Replies: 9
Views: 1086

Re: How should I teach Max my 27 year old son about mutual funds?

Work with your son in setting up retirement and taxable accounts by gifting him seed money. You can explain a simple investment strategy using index funds or ETFs and set him up to start reading books and blogs most relevant to his age group. Start him on a budgeting app. You can guide him through ...
by donall
Fri Aug 23, 2019 8:46 pm
Forum: Personal Investments
Topic: How should I teach Max my 27 year old son about mutual funds?
Replies: 9
Views: 1086

Re: How should I teach Max my 27 year old son about mutual funds?

Work with your son in setting up retirement and taxable accounts by gifting him seed money. You can explain a simple investment strategy using index funds or ETFs and set him up to start reading books and blogs most relevant to his age group. Start him on a budgeting app. You can guide him through w...
by donall
Sat Aug 17, 2019 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Uber Driving
Replies: 30
Views: 2455

Re: Uber Driving

Generally not worthwhile! When you do your taxes the first year you will see how little you have made.
by donall
Thu Aug 15, 2019 3:00 pm
Forum: Personal Investments
Topic: Investing Father's Assets Who Is In Nursing Home (POA)
Replies: 68
Views: 4752

Re: Investing Father's Assets Who Is In Nursing Home (POA)

Because of pensions and Social security there is a gap of about $10,000 per year that needs to be paid with other funds for your dad’s care. Since the total assets are $1.4 million, even if all assets were in a money market fund earning 1%, that would be more than enough to pay for your fathers care...
by donall
Sat Aug 10, 2019 3:46 pm
Forum: Personal Consumer Issues
Topic: Overflowing/leaking gutters
Replies: 18
Views: 1297

Re: Overflowing/leaking gutters

We have large gutters and when there are overflows, I always check for blockages. I usually notice this when there is basement leakage in a particular area. Any suspected areas should have hoses run in downspouts until you see water running out. This should be done whenever the gutters are cleaned. ...
by donall
Mon Aug 05, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Appealing property tax assessment
Replies: 19
Views: 1452

Re: Appealing property tax assessment

We’ve done this numerous times. Best situation is when you have bought a house and can decrease assessment by showing the sales contract price is lower than assessed valuation to the assessors office. That is usually a few minutes time and has an immediate effect. Otherwise it can get interesting an...
by donall
Tue Jul 30, 2019 7:56 am
Forum: Investing - Theory, News & General
Topic: Selling coin collection?
Replies: 34
Views: 2957

Re: Selling coin collection?

I hope you do find some interesting coins. We inherited a bunch of coins and bills. Some were worth a bit more than face value, but most was fun money. We used the dollar coins to buy lemonade from the kids on the block. Most had never seen dollar coins, but one child was familiar with dollar coins ...
by donall
Fri Jul 26, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - Disagreement on Appraisal Contingency
Replies: 81
Views: 3740

Re: First Home Purchase - Disagreement on Appraisal Contingency

Loan is based on appraisal and is part of bank procedures. I would not mess with that. Unless you really want this house and are prepared to hand over more money for a down payment if necessary.... As a seller, I would try to get this contingency, but would not scrap the deal because of it. Not sure...
by donall
Wed Jul 24, 2019 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: How do you deal with looking bad compared to others?
Replies: 77
Views: 5468

Re: How do you deal with looking bad compared to others?

I’d feel lucky because they will not ask you for money.
by donall
Tue Jul 23, 2019 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Applying for EIN after becoming trustee: SS-4 and online
Replies: 6
Views: 624

Re: Applying for EIN after becoming trustee: SS-4 and online

After death, Trust becomes irrevocable. You should talk to accountant who will file taxes about 645 election. Not sure why you would send in a SS-4 form that can take 4 weeks if you can get an EIN number immediately online.
by donall
Sat Jul 20, 2019 6:08 pm
Forum: Personal Consumer Issues
Topic: issues with roofer
Replies: 15
Views: 1925

Re: issues with roofer

Yes, those long nails can be problematic. One of those nails pierced the AC line resulting in $900 repair.
by donall
Wed Jul 10, 2019 6:09 pm
Forum: Personal Investments
Topic: Drawing down Inherited IRA vs. Roth Conversions
Replies: 13
Views: 1031

Re: Drawing down Inherited IRA vs. Roth Conversions

The distribution from the inherited IRA Becomes taxable. The IRA converted to Roth becomes nontaxable. So I would take minimum distribution from inherited IRA and convert traditional IRA to Roth using whatever criteria determined to be best (taxes, financial plan, etc.) to determine amount.
by donall
Tue Jul 09, 2019 11:03 pm
Forum: Personal Consumer Issues
Topic: Best Practices for longer-term house guests?
Replies: 35
Views: 3643

Re: Best Practices for longer-term house guests?

If I stay overnight at someone’s house I usually have a good idea how to fit in. And if I don’t my family or friends will guide me. One of my memories is when I stayed over a weekend at a friends house. She came from a large military family. Guests were expected to help with chores, so one afternoon...
by donall
Sun Jun 30, 2019 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings and Inherited Property
Replies: 53
Views: 6781

Re: Siblings and Inherited Property

You are thinking of renting out an out of state house that you are sentimental about. Sell this house if you can.
by donall
Thu Jun 13, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Is POD the best designation for Mom’s checking account?
Replies: 38
Views: 2937

Re: Is POD the best designation for Mom’s checking account?

POA ends at death. If you have a joint account with your mom that works well for paying immediate bills and automated deposits and payments. You should open a checking account for the estate or trust using a new EIN. This account is useful for refunds (health insurance premiums, utilities, deposits,...
by donall
Mon May 27, 2019 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching jobs
Replies: 79
Views: 5075

Re: Teaching jobs

I am assuming you are talking about a high school position. Does your wife have any coaching experience? Does she have experience with coding or robotics? These are areas that make a candidate stand out in the math and science areas. Being eligible or certified to teach Physics is also valuable. Com...
by donall
Fri May 17, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Cost to regrade/flatten a backyard
Replies: 26
Views: 1904

Re: Cost to regrade/flatten a backyard

If you have a conservation area with mature trees, check codes and authorizing area about building wall. Some trees such as White Oaks are very sensitive to grade changes and in three years you can have dozens of dead trees.
by donall
Tue Apr 23, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Paying taxes late (mailing state/fed tomorrow) CPA messed up....
Replies: 13
Views: 1426

Re: Paying taxes late (mailing state/fed tomorrow) CPA messed up....

I am a VITA volunteer and wrote a letter to the state department of revenue on behalf off a client that had the same thing happen to her. We only found out that taxes were not paid when she filed taxes in February and received a letter from the state revenue department. The client received a letter ...
by donall
Mon Apr 22, 2019 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Neighbors sump pump pipe on my property
Replies: 25
Views: 3277

Re: Neighbors sump pump pipe on my property

Your neighbor should Check with your local authorities such as the building or planning departments. In our area, fences cannot impede the natural flow of water. Your neighbor should be working with the local authorities to solve his problem.
by donall
Sun Apr 14, 2019 8:42 am
Forum: Personal Investments
Topic: When does IRS payment post to my account? [Pay1040.com, EFTPS]
Replies: 15
Views: 1235

Re: When does IRS payment post to my account? [Pay1040.com, EFTPS]

I did this one year. The Ibonds were purchased in May. Pretty sure that taxes were paid the first or second week in April.
by donall
Mon Apr 01, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate question: lower the asking price or spend to repair
Replies: 26
Views: 1456

Re: Real Estate question: lower the asking price or spend to repair

Coming in to spring market now, lower price a bit and see what happens. Listing in December or January can result in a stale listing.
by donall
Mon Apr 01, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: CA tax - Can parent pay using their check
Replies: 21
Views: 1136

Re: CA tax - Can parent pay using their check

Yes you should be able to write a check as you described. I’ve done this for one of our kids, but for a different state. Usually tax collectors don’t care how taxes are paid. But Bank should be able to give daughter temporary paper checks. If your daughter has not already learned, her bank is not th...
by donall
Mon Apr 01, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Received offer on house with contingency for prior sale
Replies: 18
Views: 1705

Re: Received offer on house with contingency for prior sale

Yes, downside is that RE agents do not like to show a house that is under contract. Also if buyers do not sell their house then your “under contract” house that then goes back on the market will be harder to sell, as the house was “rejected.”
by donall
Sun Mar 31, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Does a federal estate tax return need to be filed?
Replies: 5
Views: 540

Re: Does a federal estate tax return need to be filed?

I would still file a return to document the lifetime exemption. No harm in that and better prepared if there are changes with the lifetime exemption.
by donall
Sun Mar 24, 2019 4:45 pm
Forum: Personal Consumer Issues
Topic: Silvercar [Car Rental Service]
Replies: 12
Views: 1547

Re: Silvercar [Car Rental Service]

Great experience in LA last year. Very reasonable and convenient. Would do it again.
by donall
Sun Mar 24, 2019 10:17 am
Forum: Investing - Theory, News & General
Topic: Timing a first-time home purchase
Replies: 16
Views: 1112

Re: Timing a first-time home purchase

You won’t know if it was a good or bad time until 5-10 years have passed.
by donall
Sat Mar 23, 2019 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: What to do when client doesn't pay and ignores you?
Replies: 29
Views: 3763

Re: What to do when client doesn't pay and ignores you?

If you have time, then small claims court is a good idea. Best to stand up to people like this. If you don’t have time, then the guitar can be taken as a loss. When you talk to others you will probably learn that there are a lot more small businesses that are owed money.
by donall
Wed Mar 20, 2019 10:23 am
Forum: Personal Finance (Not Investing)
Topic: First Job Offer Out Of College - No Medical Insurance
Replies: 16
Views: 1519

Re: First Job Offer Out Of College - No Medical Insurance

Both positions do not offer health insurance. Not sure what the advantage is staying as an intern with promises. You can still be hired back in a full time position at the first company.
by donall
Thu Mar 14, 2019 1:10 am
Forum: Personal Consumer Issues
Topic: lawn care cost
Replies: 70
Views: 6549

Re: lawn care cost

$35/week for half acre.
by donall
Wed Mar 13, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up Joint/Individual Accounts with Spouse
Replies: 27
Views: 2213

Re: Setting up Joint/Individual Accounts with Spouse

Why do all three accounts have to be at BOA?
Nowadays it is pretty easy to transfer money between banks
by donall
Mon Mar 04, 2019 3:00 pm
Forum: Personal Investments
Topic: rolling over i-bonds for a minor
Replies: 5
Views: 287

Re: rolling over i-bonds for a minor

Redeeming and then buying new ibonds (I think you are talking about Ibonds) makes a lot of sense under the circumstances.
by donall
Mon Mar 04, 2019 2:54 pm
Forum: Personal Consumer Issues
Topic: Convince aging parents to pay for snow removal
Replies: 64
Views: 4002

Re: Convince aging parents to pay for snow removal

So shoveling the driveway seems to be an issue of pride with your parents. You will not be successful today but it would be good to start planting seeds every opportunity. Make sure you call them after shoveling and when they are sore to ask them if they would accept a gift of a shoveling service th...