Search found 781 matches

by ChrisC
Sun Jul 14, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to set the basis in inherited property from life estate?
Replies: 37
Views: 979

Re: How to set the basis in inherited property from life estate?

ChrisC, maybe I should try to find a decent real estate attorney. I would imagine the fee for answering this question is not too high. My experience with attorneys and fees makes me want to only consult one if absolutely required. Well, I think you need a tax attorney not a real estate one; this pr...
by ChrisC
Sun Jul 14, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: How to set the basis in inherited property from life estate?
Replies: 37
Views: 979

Re: How to set the basis in inherited property from life estate?

My father passed away in 1983. He had remarried shortly before that. His will set up a life estate with his wife (my stepmother) as a life tenancy and myself as the remainderman. My stepmother just recently passed away at age 95. Now I have inherited the house and have title to it. * * * Some quest...
by ChrisC
Thu Jul 11, 2019 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 7401

Re: Has anyone inherited a obligation/burden/responsibility?

I inherited a valuable building with my siblings in which the burdens of responsibility have all essentially fallen on me. It's been a major pain for me, but I recognzie that my siblings are incapable of managing this on their own or would likely have major problems handling it, even though I'm in N...
by ChrisC
Mon Jul 01, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice, home health aide, taxes questions
Replies: 24
Views: 1492

Re: Hospice, home health aide, taxes questions

Just curious. What is the extent of Medicare coverage for hospice care? Hospice supplies a visiting nurse as needed, an aide for bathing 2-3 times a week, all meds, tests, and supplies needed for the patients terminal condition. A doctor’s consult when needed. Durable things like a hospital bed, an...
by ChrisC
Mon Jul 01, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice, home health aide, taxes questions
Replies: 24
Views: 1492

Re: Hospice, home health aide, taxes questions

MIL is 94, dementia, 24/7 home care. Medicare pays for some items, IE: doctor prescribed RN visits, some supplies, but not 24/7 home care. Runs close to 10k/month. j But that’s not hospice care, right? Is MIL terminally ill? My mom had dementia, was in a SNF for 24/7 care and we were belatedly appr...
by ChrisC
Mon Jul 01, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice, home health aide, taxes questions
Replies: 24
Views: 1492

Re: Hospice, home health aide, taxes questions

Just curious. What is the extent of Medicare coverage for hospice care? Hospice supplies a visiting nurse as needed, an aide for bathing 2-3 times a week, all meds, tests, and supplies needed for the patients terminal condition. A doctor’s consult when needed. Durable things like a hospital bed, an...
by ChrisC
Mon Jul 01, 2019 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice, home health aide, taxes questions
Replies: 24
Views: 1492

Re: Hospice, home health aide, taxes questions

Just curious. What is the extent of Medicare coverage for hospice care?
by ChrisC
Thu Jun 27, 2019 9:03 am
Forum: Personal Investments
Topic: CSRS VCP annuity
Replies: 10
Views: 472

Re: CSRS VCP annuity

Thanks. Good info. My husband and I each opted for no survivor annuity so that does not enter into it. I am figuring on living long enough to go thru what I would get from any other annuity or from investing and taking the same amount out each month. I do not need it but 9% is hard to pass up. Yes,...
by ChrisC
Wed Jun 26, 2019 5:57 pm
Forum: Personal Investments
Topic: CSRS VCP annuity
Replies: 10
Views: 472

Re: CSRS VCP annuity

But a CSRS retiree already has a substantial annuity. So the decision will usually turn on the numbers rather than on the need for an annuity. Substantial? I know very few people in that league. Their regular pension may be adequate, but hardly substantial. To the OP, you can compare your VCP annui...
by ChrisC
Mon Jun 24, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Federal retirement benefits/ court order
Replies: 15
Views: 1619

Re: Federal retirement benefits/ court order

There are different Federal retirement benefits: pension/annuity under CSRS or FERS, FEHB health insurance coverage, FEGLI life insurance, TSP/401K plans, and lump sum/residual benefits. But selections by the employee or retiree are not really "irrevocable;" they can be thrumped or essentially chang...
by ChrisC
Mon Jun 24, 2019 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Sale of elderly parents' home
Replies: 42
Views: 3103

Re: Sale of elderly parents' home

Could plan for mom to sell the place when dad passes on, especially if it would be too big for one person. She would be able to afford a nice senior apartment for many years with the companionship of others as well as people to help her out at the level needed. CCRCs are often discussed on this boa...
by ChrisC
Sun Jun 23, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Sale of elderly parents' home
Replies: 42
Views: 3103

Re: Sale of elderly parents' home

Not a problem if OP can backstop all potential cash flow issues if DD passes first. :dollar OP's screen name suggests he might have a deep pocket. :moneybag At this stage of his parent's lives, with one having moderate health issues, I 'd be counseling parents to look at CCRCs. What is the plan if h...
by ChrisC
Sat Jun 15, 2019 2:29 pm
Forum: Personal Investments
Topic: Starbucks; buy, sell, hold?
Replies: 41
Views: 3294

Re: Starbucks; buy, sell, hold?

I've skimmed through most of these posts, but the idea mentioned by some that Starbucks growth is limited in the foreseeable future downplays the enormous international growth potential it has in BRIC nations, especially China where it has a major foothold. Interestingly, the other day, a few of the...
by ChrisC
Sat Jun 15, 2019 1:48 pm
Forum: Personal Investments
Topic: Paradox of CCRC Funding!
Replies: 11
Views: 1468

Re: Paradox of CCRC Funding!

I don’t have anything to offer regarding the capital gains. But will throw in a couple thoughts: 1. You two are young for entering a CCRC, based in my observations of their populations. I certainly understand the choice if you are being driven by health concerns, however. Otherwise, wait 8 to 10 ye...
by ChrisC
Sat Jun 08, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 310
Views: 50637

Re: Improving the TSP [for current participants]

In the contribution phase I would rate the TSP as an A. But in the withdrawal phase I would give it a C. Paper forms? Are you serious, it's 2019. Lots of other options and transfer bonus's await you. Paper forms are for everything unless you're able to have electronic notaries, electronic signature...
by ChrisC
Sat Jun 08, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Improving the TSP [for current participants]
Replies: 310
Views: 50637

Re: Improving the TSP [for current participants]

I think there is a Federal law mandating spousal sign off of retirement distributions, which, as I recall, occurred in the aftermath of egregious cases of military and civilian spouses being left penniless when the serviceman or Federal employee did not provide for a spousal annuity in retirement or...
by ChrisC
Fri May 31, 2019 3:36 pm
Forum: Personal Investments
Topic: What percent of your assets do you have in investment property (excluding your personal residence)?
Replies: 73
Views: 3119

Re: What percent of your assets do you have in investment property (excluding your personal residence)?

Just had a conversation about this last week. We own 9 rental properties and a full time airbnb. (All properties are owned. No mortgages) It's approximately 26% of net worth. Throw in primary residence and all real estate is about 40% of net worth. We live in a "bedroom" community of Charlotte. The...
by ChrisC
Wed May 22, 2019 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 221
Views: 12785

Re: Should I encourage my kids to work in high school/college?

PS: all my "dissertation" refers to "hamburger flipping" jobs, not to internships, lab work etc relevant to one's career. One of my kids learned, in high school, that scooping Haagen Dazs is good for the forearms and you can make a few bucks. Designing a business card and letterhead for a local bus...
by ChrisC
Tue May 21, 2019 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 221
Views: 12785

Re: Should I encourage my kids to work in high school/college?

Where a teenager finds out where they don't want to end up, or who they don't want to be, or are inspired to achieve. :D This is a big one that I failed to mention. I had one job in particular that made a huge impression on me......that I didn't ever want to have to do that kind of work for the res...
by ChrisC
Sun May 05, 2019 1:23 pm
Forum: Personal Investments
Topic: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?
Replies: 62
Views: 4386

Re: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?

Depends on the pension and other family needs, which could include a spouse and children or other familial obligations. I was 27 at the start of my Federal career, with the idea that my wife and I would start of family of 3-4 children and my wife would likely interrupt her career and carry the lion'...
by ChrisC
Sat Apr 20, 2019 9:27 am
Forum: Personal Consumer Issues
Topic: At what point would you hire someone vs. cut down a tree yourself?
Replies: 88
Views: 3352

Re: At what point would you hire someone vs. cut down a tree yourself?

It would be helpful if the OP told us the type of 25 foot tree he has on his property. I had two 25 feet purple leaf plum trees near my driveway. One became diseased and rotted -- don't know why it happened to one but I suspect it might have been damaged by the lawn mowing crew we use. It was dead f...
by ChrisC
Wed Apr 17, 2019 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare and Health Savings Account Contributions
Replies: 4
Views: 385

Re: Medicare and Health Savings Account Contributions

In addition to the issue of Medicare retroactivity (6 months prior to when you applied or when you became 65) be sure to take into account your employer/plan HSA contributions, especially if you're under an FEHB HDHP, which stopped immediately making its employer contributions as soon as I told my p...
by ChrisC
Wed Apr 10, 2019 1:29 pm
Forum: Personal Investments
Topic: TSP and IRA questions.
Replies: 8
Views: 644

Re: TSP and IRA questions.

I currently have a FERS TSP plan (Thrift savings plan) due to my federal employment. I also have a traditional IRA with Vanguard that has both deductible and non-deductible contributions (all in 1 account). Unfortunately, I did not know about filing an IRS form 8606 over the years for the contribut...
by ChrisC
Mon Apr 08, 2019 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions, taxes, and social security
Replies: 22
Views: 2497

Re: Roth conversions, taxes, and social security

Have 2.9M total in tax sheltered accounts (wife IRA, my 403b,457,401k). Will likely continue to add to 401k up to age 59, so tax sheltered monies may be 3.1M or so. Looking at RMD calculators, the estimated RMD amount at 70.5 is pretty large, anywhere from 150-200k/year, which obviously push us int...
by ChrisC
Tue Apr 02, 2019 5:45 pm
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 1332
Views: 136638

Re: [What TV Show Have You Recently Watched?]

I definitely agree that HBO and Showtime probably have the best content on average. Hate to be trendy, but GoT is the best series of all time IMO. I personally haven't seen a drama from a major network that I've really enjoyed in years. I've tried several. GoT is an incredible series, but I have to...
by ChrisC
Sun Mar 31, 2019 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

FEHB could go away, or become more expensive, or lose much of its appeal. It is within the realm of possibilities. Yes, those are all possibilites though they appear to be quite remote and on the same scale of possibilites as the Congress and the President enacting legislation to take away or dimin...
by ChrisC
Sun Mar 31, 2019 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

In my opinion, you should base your decision not on other people's experiences but on risk calculations. For example, assume that you will need to get Medicare Part B 15 years from now and will live for 15 years after that. Calculate how much you would be saving by not having Part B for 15 years an...
by ChrisC
Sun Mar 31, 2019 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: cost/benefit of a home elevator/escalator
Replies: 20
Views: 1089

Re: cost/benefit of a home elevator/escalator

We have 2 MBRs down on our 1st Floor. And an elevator to take us up to our 2nd Floor. We can age in place in our home as it was customized by the prior owner for a disabled child. Our elderly and less mobile friends love the elevator as guest bedrooms are on the 2nd Floor. My 4 year old grandson lov...
by ChrisC
Sat Mar 30, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Question about Cashiers Check for tentative car purchase
Replies: 34
Views: 1597

Re: Question about Cashiers Check for tentative car purchase

We purchased a car 3 weeks ago; dealer took a deposit on a credit card ($5K was the most it would take). The balance was paid by personal check; the dealer called an intermediary (check approval company who does the leg work with the financial institution to see if your money is on hand for the chec...
by ChrisC
Fri Mar 29, 2019 9:08 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2169

Re: Lifecare community - worth it?

Some CCRCs will only accept new residents at the Independent Living level, the higher levels of care being intended for residents to age into. One argument to get these "younger" elders to move in is that they will have opportunities to build a circle of friends among the other residents. I am keep...
by ChrisC
Fri Mar 29, 2019 7:33 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2169

Re: Lifecare community - worth it?

Right now, the one I am looking at (Bayleigh Chase) is quoting $79,310 entry & $2,585 monthly for a 1 BR Apt; For a 1BR cottage, $144,000 with $2,900 monthly. Even a 2BR, 2 BA cottage has a $175,000 entry fee, a bargain basement rate when you look at these places. What I found surprising (for these...
by ChrisC
Fri Mar 29, 2019 11:30 am
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2169

Re: Lifecare community - worth it?

How old are you, do you have current health or major projected likely issues, and are you more concerned about future health issues than current living arrangements? I second the idea of looking at 55 plus retirement places like Dell Webb from a social network and financial view. I’ve looked at seve...
by ChrisC
Fri Mar 22, 2019 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

I am going to stay with Part B for now, precisely because of Victoria's point of overlapping security, but if I stay in high IRMMA brackets I may reconsider in the future, since I did save $55k in my HSA when I had the GEHA HDHP. Now that the HSA is with Fidelity, I need to look at the investment c...
by ChrisC
Fri Mar 22, 2019 5:22 pm
Forum: Personal Consumer Issues
Topic: Three Days in DC
Replies: 83
Views: 3700

Re: Three Days in DC

Take a tour of the Bureau of Printing & Engraving (and not too far away in walking distance is the U.S. Holocaust Museum). Away from the Mall area, especially if you have a car, I'd recommend Mount Vernon (our first President's home) in Alexandria off the GW Parkway (a gorgeous drive during the Spri...
by ChrisC
Fri Mar 22, 2019 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Legal Contract for Loan from Parents
Replies: 18
Views: 1751

Re: Legal Contract for Loan from Parents

As a parent and a lawyer, who refinanced my daughter's law school loans by paying them off and having daughter pay us at a much lower interest rate over a longer period of time with grace periods, I kept this very simple for us: just a one page promissory note, establishing the terms and conditions ...
by ChrisC
Thu Mar 21, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

We took my BIL, who has MS, off his expensive high option plan (MD IPA) and steered him into BCBS- Basic a few years ago when they offered the $600 reimbursement for Medicare A & B enrollment. Chris, Thank you very much for real-life scenarios. When you were changing your BIL's insurance, was the $...
by ChrisC
Wed Mar 20, 2019 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

A bit of pen to paper doodlings, has it costing us about $100 per month combined when we take Part B and keep FEHB. Only a tad more than what our car insurance and liablilty umbrella is for the year. Hope we never have to use the car insurance, pretty sure we will be using Mdicare and FEHB. How do ...
by ChrisC
Wed Mar 20, 2019 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

Health deterioration can also be cognitive. One advantage of having Medicare Part B along with FEHB is that Medicare B is primary and will bill your FEHB plan, which, if you select one, will pick up the rest of the bill (prescription drugs and other exclusions apply). Without Part B, you or your pe...
by ChrisC
Tue Mar 19, 2019 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: IRA Transfer into TSP
Replies: 17
Views: 862

Re: If a NC resident, possibly not a good idea

FYI, according to my recollection, if you are a resident of North Carolina, and benefit from the Bailey Rule, transferring the Roth into the TSP may render all of your TSP disbursements subject to NC income taxation. Normally, TSP disbursements would be subject to the Bailey Rule and exempt from ta...
by ChrisC
Tue Mar 19, 2019 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Probate closed in County A, New Asset identified in County B
Replies: 10
Views: 508

Re: Probate closed in County A, New Asset identified in County B

That’s a question for your real estate lawyer or the title insurance company if the buyer obtains insurance.
by ChrisC
Tue Mar 19, 2019 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Probate closed in County A, New Asset identified in County B
Replies: 10
Views: 508

Re: Probate closed in County A, New Asset identified in County B

In many states, all one would need is an Affidavit of Heirs for the Dad’s heirs to have the property retitled and pass to Dad’s heirs without going back to probate. The hard work was already done when OP’s cousins commenced an action that appears to have quiet title and subdivided the property.
by ChrisC
Sun Mar 17, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

And from the same piece in Consumer's Checkbook: "And as we discuss below, for those who pay more for Part B than the normal premium, it is almost always a bad buy in purely financial terms." . . . "After that, the penalty will outweigh your earlier savings (except for those who were once above, but...
by ChrisC
Sun Mar 17, 2019 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 172
Views: 20528

Re: Why should FEHB members buy Medicare Part B?

I also manage my retired BIL's health plans and finances -- he is a former Fed LEO afflicted with MS. For my BIL, he retired voluntarily under FERS and a few years later when diagnosed with MS, he obtained SS Disability which entitled him to Parts A and B, 2 years after SS Disability. We enrolled hi...
by ChrisC
Sun Mar 03, 2019 10:54 am
Forum: Personal Consumer Issues
Topic: Best quality car - Lexus?
Replies: 56
Views: 6397

Re: Best quality car - Lexus?

We've owned BMWs (528, X5s) and Volvos (940 Turbo, 960), and assorted GMs (Nova SS 350), Chryslers (Vans), Toyotas and Hondas. The Hondas by far, Accord and Ridgeline, have been the most durable and reliable cars for us. We still own our 2005 Ridgeline and 2007 Accord. We wanted to blow some dough a...
by ChrisC
Tue Feb 26, 2019 7:57 pm
Forum: Personal Consumer Issues
Topic: Staying in Brooklyn- Recommendations
Replies: 18
Views: 1039

Re: Staying in Brooklyn- Recommendations

I'd probably target somewhere around the Borough Hall subway. Kind of in the middle of a bunch of different fun neighborhoods with some good food (Cobble Hill, Fort Greene, Brooklyn Heights); walkable to Dumbo, Red Hook, Carroll Gardens, or Barclays; and you've got easy access to basically everywhe...
by ChrisC
Tue Feb 19, 2019 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is Long Term Care Insurance worth it?
Replies: 318
Views: 13407

Re: Is Long Term Care Insurance worth it?

Level term life insurance never has increases even though it's sold for 20 or 30 years. You can choose to pay more upfront for level term, or you can take renewable and the price increases, but I have never heard of them charging level term and then coming back to someone to demand a higher premium...
by ChrisC
Tue Feb 19, 2019 5:01 pm
Forum: Personal Consumer Issues
Topic: CCRCs - problems with the transition process to higher care levels?
Replies: 39
Views: 2610

Re: CCRCs - problems with the transition process to higher care levels?

This resonates with me. A CCRC is a strategic crap shoot, and probably a sound decision for people without good/trusted advocates to navigate these transitions for you. I think if you have a good network of advocates (kids, etc.) and have the money the a la carte method described here probably give...
by ChrisC
Mon Feb 18, 2019 10:59 pm
Forum: Personal Consumer Issues
Topic: CCRCs - problems with the transition process to higher care levels?
Replies: 39
Views: 2610

Re: CCRCs - problems with the transition process to higher care levels?

I can give you first/secondhand experience of the opposite: One of the couple is 15 years older than the other. When the older of the couple needed more care due to a doctor saying the older one could not stay alone unsupervised, and needed more assistance with bathing and dressing than the spouse ...
by ChrisC
Mon Feb 18, 2019 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Is Long Term Care Insurance worth it?
Replies: 318
Views: 13407

Re: Is Long Term Care Insurance worth it?

All types of insurance have rate increases. It would be nice if all our insurance was guaranteed to never increase but that is a fairy tale. Level term life insurance never has increases even though it's sold for 20 or 30 years. You can choose to pay more upfront for level term, or you can take ren...
by ChrisC
Mon Feb 18, 2019 9:13 am
Forum: Personal Consumer Issues
Topic: CCRCs - problems with the transition process to higher care levels?
Replies: 39
Views: 2610

Re: CCRCs - problems with the transition process to higher care levels?

Well, the advantages of a CCRC usually extend far beyond the availability of transitional levels of care, and can in some cases encompass things like on-site security and emergency medical response, restaurants, on-site routine medical care and other facilities such as gyms, pools, libraries, haird...