Search found 808 matches

by donall
Mon Dec 10, 2018 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Advice for older and younger person saving for retirement?
Replies: 31
Views: 2468

Re: Advice for older and younger person saving for retirement?

Grandmother is a qualifying relative because her income is only SS. See IRS table: https://apps.irs.gov/app/vita/content/globalmedia/table_2_dependency_exemption_relative_4012.pdf Mom should file as head of household, get family credit and pay no taxes in 2018. It is also worthwhile to go back 3 yea...
by donall
Sun Dec 02, 2018 9:51 pm
Forum: Investing - Help with Personal Investments
Topic: Buying service years in pension
Replies: 18
Views: 1557

Re: Buying service years in pension

I would buy extra service years. What makes this such a good idea is that the pension can start when your wife is 60.
by donall
Sun Dec 02, 2018 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: Simple Person Needs Simple Advice Regarding Retirement
Replies: 26
Views: 2315

Re: Simple Person Needs Simple Advice Regarding Retirement

Have you applied for disability (SSI) from Social Security? Your wife needs to take over the finances and should start taking baby steps now. Please look into meeting with an elder attorney to prepare legal papers such as POA, will/trust, living will, etc.
by donall
Sun Nov 25, 2018 11:26 pm
Forum: Investing - Help with Personal Investments
Topic: Helping Friend move from Northwest Mutual IRA
Replies: 6
Views: 654

Re: Helping Friend move from Northwest Mutual IRA

Let your friend stop contibuting to NWM and start investing in Vanguard. Then tackle NWM. There will probably be cancellation fees. Yes, fees! Cancellation fees can apply up to 7 years, with a reduction of 1% each year that corresponds to the year of contribution. Check the anniversary date, and if ...
by donall
Sun Nov 25, 2018 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: SS and WEP [Social Security and Windfall Elimination Provision]
Replies: 15
Views: 1043

Re: SS and WEP

Good planning if you are already looking into the effects of WEP and GPO. Since you have determined that the pension is better, then encourage your wife to continue working in the pension system rather than a job with social security.
by donall
Fri Nov 23, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3513

Re: Helping elderly Mom with finances

From my experience, Schwab is an excellent choice. Often seniors like to meet with someone and go to a physical office, such as offered by Schwab in many communities. You will also most likely need notary and signature guarantee services, especially if transferring accounts. Schwab will also help tr...
by donall
Fri Nov 23, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: What financial information do you share with your family and relatives?
Replies: 112
Views: 9721

Re: What financial information do you share with your family and relatives?

I guess as I get older it will be more and more sharing of information with close family members. My relatives who passed away did this and it worked out well. For years I assisted with taxes, so I hope close family members will assist me in the future.
by donall
Mon Nov 19, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: sell rental condo 6 miles from Crystal City, VA Amazon location?
Replies: 36
Views: 3819

Re: sell rental condo 6 miles from Crystal City, VA Amazon location?

I would never be a landlord again, yet I would hold on to this unit to see if it appreciates.
by donall
Sat Nov 17, 2018 11:49 pm
Forum: Personal Consumer Issues
Topic: Mouse in the house
Replies: 32
Views: 2209

Re: Mouse in the house

If you only found one mouse you still have mice. I would change the title to Mice in the house not Mouse in the house.
by donall
Fri Nov 16, 2018 12:57 pm
Forum: Personal Consumer Issues
Topic: Home sale etiquette: wall repair
Replies: 53
Views: 3643

Re: Home sale etiquette: wall repair

Buying a house is stressful. As a seller, house is super clean and no holes in the walls. Filters are changed. Appliance literature and utility information given at closing. Champagne bottle in refrigerator.
by donall
Sat Nov 03, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: RE Newbie: Buying Family Owned Home
Replies: 14
Views: 1077

Re: RE Newbie: Buying Family Owned Home

Private parties may discount price if there is no real estate commission involved.
by donall
Fri Oct 26, 2018 6:24 pm
Forum: Personal Consumer Issues
Topic: "Donating" unused family burial "spots"
Replies: 21
Views: 1759

Re: "Donating" unused family burial "spots"

Grave sites are often forgotten or not mentioned in wills, so many times statuatory laws or regulations govern ownership of grave sites. Ownership of grave sites can get weird. Records can be handwritten in deteriorating ledger books, names can be mispelleled, deeds can be damaged with fire or water...
by donall
Thu Oct 25, 2018 8:33 pm
Forum: Personal Consumer Issues
Topic: "Donating" unused family burial "spots"
Replies: 21
Views: 1759

Re: "Donating" unused family burial "spots"

The public cemetery near us has a few grave sites that were donated with the stipulation that the burial be “indigent” persons. Burials and funerals are important for family closure. Interestingly families who are not well off often have purchased graves for family members. One grave site is in less...
by donall
Mon Oct 15, 2018 8:51 am
Forum: Personal Consumer Issues
Topic: Not convinced with insurance
Replies: 45
Views: 3708

Re: Not convinced with insurance

The cheapest way to add additional liability insurance is to up your homeowners liability limits. You already have some amount of liability insurance thru your homeowners policy, upping the limits to $500k or so will be quite cheap. Ralph Absolutely raise liability on homeowners. We did this for a ...
by donall
Sat Oct 13, 2018 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Switching from ACA to Medicare
Replies: 32
Views: 3669

Re: Switching from ACA to Medicare

ACA uses family size and income to determine the premium and subsidy. If one of the couple starts Medicare, the family size stays the same at 2. The same would happen if the two children are in Medicaid, while parents obtain ACA insurance, where the family would be 4.
by donall
Mon Sep 24, 2018 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4870

Re: Long Term Care

In five years SS and your pension will net approximately $135,000. Combined with 4% of $4.9 million is approximately $330,000 per year. Pretty sure that amount will fund high quality care for two forever.
by donall
Mon Sep 24, 2018 10:02 am
Forum: Personal Consumer Issues
Topic: Dark stain wood floors
Replies: 27
Views: 2476

Re: Dark stain wood floors

Our house was originally built with the dark oak floors and loads of gorgeous woodwork. We have both polyurethane in an area of the house and traditional wax in another part. If noticeable scratches appear, we just clean the scratch with a solvent and then add stain and wipe. Let dry and then cover ...
by donall
Thu Sep 20, 2018 12:07 am
Forum: Personal Consumer Issues
Topic: Dental work and hypertension issue
Replies: 42
Views: 3536

Re: Dental work and hypertension issue

Make sure that if you sign up for Dental insurance you choose a plan that will pay for crown/bridges in first year. Some plans will only pay for crowns, etc. in the second year.
by donall
Wed Sep 19, 2018 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8890

Re: Physical Banking - Any benefits anymore?

Notary, medallion, redemption of paper savings bonds, safety deposit box, paying property taxes. A bank is also a comfortable place for the buyer to get cash for the car purchase. And oddly when I got paper checks from work, they were rejected by the ATM and so I had to have the teller deposit the c...
by donall
Sat Sep 15, 2018 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Service Date for Vesting - Teacher
Replies: 12
Views: 906

Re: Service Date for Vesting - Teacher

I would check with the retirement system to determine what is a credible year for a teacher. Often a credible year is a school year or end of the fiscal year.
by donall
Fri Sep 14, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Critical Account
Replies: 20
Views: 2557

Re: Critical Account

Just have a joint checking account with wife. Make sure that you also have beneficiaries on that account.
by donall
Mon Sep 03, 2018 6:29 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for an 87-year-old?
Replies: 36
Views: 2227

Re: Advice for an 87-year-old?

Ten years ago I assisted a relative in setting up a CD ladder at Schwab. It provided monthly income as checks and a physical presence (online banking was not understandable). This was the best solution for the 80 year old, as money was never lost and the monthly checks provided money for wants. Toda...
by donall
Mon Sep 03, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: F2 Tornado just slammed our area - Any way to recover expenses?
Replies: 18
Views: 1573

Re: F2 Tornado just slammed our area - Any way to recover expenses?

Lightning hit one of our old oaks in the back yard. Insurance (State Farm) paid for tree removal.
by donall
Sat Sep 01, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Will I ever sell Ibonds from 2001 - 3% fixed
Replies: 78
Views: 5272

Re: Will I ever sell Ibonds from 2001 - 3% fixed

- iBonds are tax free while you hold them, - at redemption time, you pay federal taxes on the growth, but not state taxes. This makes me wonder if it would be a good idea to pass I Bonds on as an inheritance(as mentioned above) particularly to a youth, since they will have no taxes, or a low tax br...
by donall
Sat Sep 01, 2018 7:01 am
Forum: Investing - Help with Personal Investments
Topic: Advice for my son - 20 years old with a spare $10K
Replies: 13
Views: 1387

Re: Advice for my son - 20 years old with a spare $10K

Wow, pretty impressive financial situation for a 20 year old. Would echo what others have said that Roth IRA should be maxed first and be invested in an index stock fund. Although not recommended, Roth contributions can be withdrawn without penalty (though I would not do this is fund has lost value)...
by donall
Thu Aug 30, 2018 3:00 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Terminated, Can't Reinstate
Replies: 11
Views: 2007

Re: Health Insurance Terminated, Can't Reinstate

please read this explanation:
https://www.healthcare.gov/apply-and-en ... ce-period/
Good luck. Reinstating health insurance is not easy.
by donall
Tue Aug 28, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Post Mortem Settlement
Replies: 59
Views: 4688

Re: Post Mortem Settlement

If there are listed beneficiaries on accounts, assets such as the house are titled in the trust (or in your case in the names of the 4 children), and the will refers to the trust as the guiding document (pour over will) there ie no need to go through probate. You can probably just use a small estate...
by donall
Wed Aug 22, 2018 11:58 am
Forum: Investing - Help with Personal Investments
Topic: Inheritance—Advice Requested
Replies: 63
Views: 7029

Re: Inheritance—Advice Requested

I am a fan of the smoothing concept. From what I see, it seems that at 70 your income will triple. Why not in addition to planning for retirement you also build in higher income before 70? Things change rapidly when over 50.
by donall
Mon Aug 20, 2018 1:38 pm
Forum: Personal Consumer Issues
Topic: Composite Decking Material
Replies: 41
Views: 3395

Re: Composite Decking Material

IPE is often used in commercial construction. Some contractors do not like to use the composite materials.
by donall
Mon Aug 13, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: First time ACA coverage with question
Replies: 21
Views: 1967

Re: First time ACA coverage with question

When the student gets their own insurance from a job, you will notify the Marketpkace about the change and get a new premium. The student is not on your taxes as dependent and so their income will not be part of the family income. ACA follows tax status. I’m adding that student can be part of house...
by donall
Sun Aug 12, 2018 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4832

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

Hard to change family dynamics. I’ve been in this situation. It took almost 9 years of incremental changes to get a supporting situation. I started the conversation asking what the parent’s investment goals were. It turned out there were no goals other than to get a monthly check. Luckily my parent ...
by donall
Sun Aug 12, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: First time ACA coverage with question
Replies: 21
Views: 1967

Re: First time ACA coverage with question

When the student gets their own insurance from a job, you will notify the Marketpkace about the change and get a new premium. The student is not on your taxes as dependent and so their income will not be part of the family income. ACA follows tax status. I’m adding that student can be part of househ...
by donall
Sun Aug 12, 2018 11:45 am
Forum: Personal Consumer Issues
Topic: LTCi Underwriting Home Interview
Replies: 5
Views: 664

Re: LTCi Underwriting Home Interview

Have someone with you during the exam that can keep you calm.
by donall
Sun Aug 12, 2018 10:59 am
Forum: Personal Finance (Not Investing)
Topic: First time ACA coverage with question
Replies: 21
Views: 1967

Re: First time ACA coverage with question

Taxes will be predictable as student will not be a dependent. With a decrease in family size, the subsidy will decrease. As for ACA insurance cost and premium tax credit, cost and credit will be prorated through forms 1095-A and 8962. You can look up the difference in monthly premiums/subsidy with a...
by donall
Fri Aug 10, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Post Mortem Settlement
Replies: 59
Views: 4688

Re: Post Mortem Settlement

OP, great job on helping your wife during a difficult time.
I’m adding to this by suggesting you get one last credit report then write the three agencies of your MIL’s passing.
by donall
Thu Aug 09, 2018 1:34 pm
Forum: Personal Consumer Issues
Topic: Moving soon; whom to hire to help me move?
Replies: 27
Views: 2521

Re: Moving soon; whom to hire to help me move?

If you are in your 20s you can probably find enough friends to help you move. You will need to provide plenty of beverages and be on call for your friends’ moves. Of course your apartment is probably not fully furnished since you got a lot of the furnishings from the prior tenant or Craigslist. If y...
by donall
Mon Aug 06, 2018 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Help! Death of Grandfather - creating to do list for Grandmther
Replies: 23
Views: 1848

Re: Help! Death of Grandfather - creating to do list for Grandmther

Your grandmother is lucky to have your help. It is so much easier if there is someone there for support. - if an obituary is published, try to make it as vague as possible and do not include last names of children or any previous names. Concentrate on the person’s accomplishments and social aspects....
by donall
Fri Aug 03, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Home is *just* outside flood zone - how much flood insurance do I buy?
Replies: 50
Views: 3178

Re: Home is *just* outside flood zone - how much flood insurance do I buy?

Make sure you understand your coverage. Flood insurance does not cover basement improvements such as drywall, flooring etc. Thanks. This confuses me a little bit because I can't tell from the documentation whether drywall in *basements* is covered or not...see pg. 3: https://www.wrightflood.net/sta...
by donall
Fri Aug 03, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Home is *just* outside flood zone - how much flood insurance do I buy?
Replies: 50
Views: 3178

Re: Home is *just* outside flood zone - how much flood insurance do I buy?

Please use the following link to determine what is covered by flood insurance https://www.fema.gov/faq-details/Flood-Insurance-Coverage-for-Basement-Contents I don’t think that finishes such as drywall, flooring, etc. are covered in basements. I researched this for a unit that was half below ground ...
by donall
Thu Aug 02, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 7266

Re: DW job in dangerous area

OP, will your wife work in a high school or K-8? Schools are often the safest place in a neighborhood. Your wife will be surrounded by other school personnel that includes security guards. High schools are inherently less safe than grade schools but often have more security guards, police, social wo...
by donall
Mon Jul 23, 2018 8:00 pm
Forum: Personal Consumer Issues
Topic: I want to sell my home, but I don't want to fix it up
Replies: 72
Views: 8836

Re: I want to sell my home, but I don't want to fix it up

Many realtors know and have experience with local contractors. Use the realtors as a resource, as realtors can often recommend someone who can complete a job in a timely manner.
by donall
Mon Jul 23, 2018 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone sell their car to Carmax or webuyanycar.com?
Replies: 34
Views: 4224

Re: Anyone sell their car to Carmax or webuyanycar.com?

We like to use Carmax for fairly new cars that still have a warranty. Easy and fast service. For older cars that are worth less than $10,000, selling privately works well and nets a higher price. We have often sold the older cars to parents buying cars for their teens.
by donall
Mon Jul 23, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Please - Need Help With Pension Plan Options
Replies: 16
Views: 1194

Re: Please - Need Help With Pension Plan Options

Personally I would go with option 3. You can think of it as paying $3800 per year for peace of mind for DW in case of your death. Otherwise you look set for anything with your assets.
by donall
Mon Jul 23, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Buy house for retired mother?
Replies: 72
Views: 5229

Re: Buy house for retired mother?

OP, I think the plan is simple and if your mother is fine with it go ahead. Your plan demonstrates great sensitivity to an elder’s independence. With your income level and assets, you may be losing the opportunity costs of $300,000, which is a small price to pay for securing your mom’s retirement. I...
by donall
Wed Jul 18, 2018 12:55 pm
Forum: Investing - Theory, News & General
Topic: Broker CD - Death of Holder
Replies: 1
Views: 364

Re: Broker CD - Death of Holder

Not sure what a conditional put is. But with a death put on brokered CDs can get face value if CD has lost value. This works for CDs held as individuals or in trust. If CD has increased in value then just sell for higher price.
by donall
Wed Jul 18, 2018 8:31 am
Forum: Personal Consumer Issues
Topic: Question about new construction basement houses
Replies: 19
Views: 1555

Re: Question about new construction basement houses

In addition to all the great advice from postings it is very cost effective to install drain tile both inside and outside basement walls if you are building a house.
by donall
Sun Jul 15, 2018 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: 26 years old. Roth ira with edward jones last 3.5 years.
Replies: 44
Views: 2856

Re: 26 years old. Roth ira with edward jones last 3.5 years.

OP you are in a paradigm shift from taking someone else’s advice to using your own judgement. You are on the right path and am happy that you are making the transition at a young age.
by donall
Sun Jul 15, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance gap
Replies: 10
Views: 1112

Re: Health insurance gap

Prepare paperwork for Cobra but do not send in. Son has up to sixty days to apply for Cobra, so he can apply up to October 12, as October 14 is a Sunday. If after two weeks, if no medical care is needed son does not pay for Cobra or send in paperwork. If medical care is necessary (and costs more tha...
by donall
Fri Jul 13, 2018 9:32 am
Forum: Investing - Help with Personal Investments
Topic: Old Drip Accounts - Worth Moving to Consolidate?
Replies: 9
Views: 722

Re: Old Drip Accounts - Worth Moving to Consolidate?

You should look at your DRIP statements! I’m sure you will see that there are fees involved in reinvesting dividends. Computershare charges a high percentage for buying more stock especially if the amounts are small. You will also find that selling DRIPs involves costs and you may not be able to pic...