Search found 702 matches

by ChrisC
Wed Nov 14, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: rule of thumb for using HSA funds?
Replies: 40
Views: 3203

Re: rule of thumb for using HSA funds?

I imagine that there are members of this board who are in the process of building substantial HSA balances—and if they’re young enough, no telling how large they may become as the funds are invested and not being drawn down for medical expenses. Whether they will need all of the funds for related e...
by ChrisC
Wed Nov 07, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 8789

Re: Long-term Care Insurance

Hi, My Mom and Dad both had LTC. Mom had early-stage Alzheimers and Dad had trouble with balance. I moved them both to a beautiful assisted living facility and immediately applied for their LTC. They had a 90 day waiting period so as soon as I called their company that I wanted LTC to start the 90 ...
by ChrisC
Mon Oct 29, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: The Case for Renting
Replies: 31
Views: 3648

Re: The Case for Renting

I have two options. Head down and save aggressively and buy a small 2 bedroom in a nice neighborhood in Brooklyn. This would curtail my ability to pay off my loan, save in a SEP, etc. Or I could continue to rent and save. Does anyone in NYC have experience with this choice and can they share insigh...
by ChrisC
Sun Oct 28, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employees, leading up to retirement?
Replies: 117
Views: 10109

Re: Federal Employees, leading up to retirement?

By the way, as a Federal manager, I usually knew which members of my organization were abusing sick leave, and, yes, it did shape my opinion of their work. I overheard the water cooler conversations about "mental health days," and I observed the sick days that often seemed to happen the day before ...
by ChrisC
Wed Oct 24, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: What keeps you up at night?
Replies: 56
Views: 6098

Re: Retirees: What keeps you up at night?

Taking care of family and friends who can't take care of themselves.
by ChrisC
Tue Oct 23, 2018 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years
Replies: 70
Views: 7894

Re: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years

I think I will be able to keep GEHA-HDHP with HRA instead of HSA. But, when the time comes, I will check out other options, too. Your BIL's plan looks good. Victoria You can keep the GEHA-HDHP with the HRA but you should realize that the GEHA-HDHP won't pay for Medicare deductibles or co-pays under...
by ChrisC
Tue Oct 23, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years
Replies: 70
Views: 7894

Re: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years

1. Reference for the "$100/month for a margin call ": I am currently using the FEHB GEHA HDHP for $125/month. When I become eligible for Medicare, Medicare will provide primary coverage, and I will continue paying $125/month with small annual increases for the secondary coverage. If I develop a ser...
by ChrisC
Mon Oct 22, 2018 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5380

Re: Vanguard, Costco, Coursera...

When Amazon can deliver me a 1/4 lb hotdog with kraut and a diet coke to my door instantly after completing my purchase for $1.50, then maybe they will overtake Costco. First, they took away the Polish Hot Dogs; next they will come for the Churro; and then the BBQ brisket will be toast. :( The 1/4 ...
by ChrisC
Mon Oct 22, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5380

Re: Vanguard, Costco, Coursera...

Just wait and I wouldn’t be surprised if Amazon buys some network of gas stations and integrates it with WholeFoods, which offers electric charge services for electric vehicles at one of the WholeFoods I enjoy lunch occasionally. I was floored the other day when a Home Depot lumber guy told me that ...
by ChrisC
Mon Oct 22, 2018 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard, Costco, Coursera...
Replies: 39
Views: 5380

Re: Vanguard, Costco, Coursera...

Costco isn't worth it if you don't have a reason to buy in bulk or use another of their services. I had a membership one year in order to use their optical department but found that we have neither the room nor the need for so many huge bulk packages. It didn't justify the hour long drive each way....
by ChrisC
Mon Oct 22, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years
Replies: 70
Views: 7894

Re: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years

Insurance. Having a medical insurance is good. Having two insurances is even better. When I become eligible for Medicare I will get Medicare Part B and will keep my FEHB insurance. Some Federal retirees are planning to forego either Part B or FEHB, but I prefer to pay for partly overlapping coverag...
by ChrisC
Mon Oct 15, 2018 8:27 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 3819
Views: 1078653

Re: What Movie Have You Recently Watched?

Monsters and Men. The film struck a sensitive chord in me. It deals with three men of color who are faced with separate, difficult choices in the aftermath of an explosive, tragedy, in light of their differing backgrounds and goals. The acting was quite good, and the story telling from one setting t...
by ChrisC
Mon Oct 08, 2018 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: LTHC Insurance ??
Replies: 10
Views: 813

Re: LTHC Insurance ??

I think Long Term Care insurance coverage will start if you can’t perform any two of certain activities of daily living. But someone could have dementia and still be able to do all these 6 things. [eating is different from cooking or preparing foods to eat ] also someone might be demented and able ...
by ChrisC
Mon Oct 08, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Depreciated rental property expenses
Replies: 6
Views: 788

Re: Depreciated rental property expenses

Regarding depreciation, my rudimentary understanding is that improvements are depreciated and repairs are not. So if the façade work is to repair crumbling bricks, etc., that can't be depreciated. But if you tear down the crumbling bricks and put a fancier façade that would increase your property v...
by ChrisC
Mon Oct 08, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Depreciated rental property expenses
Replies: 6
Views: 788

Re: Depreciated rental property expenses

Also, I have a follow up question regarding depreciation, how do you determine building value? Do you look at property tax document for the building value or do you go by purchase price? Or homeowner insurance estimate to rebuild? Some of the land estimate in places like bay area must be sky high v...
by ChrisC
Sat Oct 06, 2018 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Question
Replies: 11
Views: 1455

Re: Medicare Question

When was she 65? Upon enrollment, Medicare part A coverage is automatically retroactive up to six months, but not before age 65. Yes, that might be true but the cost of knee replacement surgery and rehab isn't entirely borne by Medicare Part A. She might get up to 100 days of in-patient coverage fo...
by ChrisC
Sat Oct 06, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: What is your annual cost for health insurance?
Replies: 137
Views: 9904

Re: What is your annual cost for health insurance?

I think one needs to cover all medical insurance (health, dental, vision and LTCi, if purchased) to accurately show the financial hit. Here's mine as a retired Fed: 1. Health Insurance is $3233 for Spouse plus 1, GEHA Family HDHP (with $1500 employer contribution to HSA) and $3K deductible; Spouse, ...
by ChrisC
Sat Oct 06, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: 1031 exchange duplex to SFR, rent it 2yrs, then move in?
Replies: 2
Views: 401

Re: 1031 exchange duplex to SFR, rent it 2yrs, then move in?

Is this plan likely to be good, bad or ugly? I have an almost fully depreciated rental duplex that I'd like to 1031 exchange to a single family residence. I will rent out the residence to a tenant for two years. During that time I will sell my primary residence and at the end of two years move into...
by ChrisC
Wed Oct 03, 2018 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11957

Re: Sold Home - 2 days after buyer claims they found an issue with A/C

At closing, we asked that the $500 repair cost get deducted from credit we gave them in addition to the $7k we paid for a new roof, which they wanted. The buyers vehemently objected. They claimed we should have told them about the AC failure before repairing the unit and that since they bought a ho...
by ChrisC
Wed Oct 03, 2018 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11957

Re: Sold Home - 2 days after buyer claims they found an issue with A/C

I've replaced so many HVAC units in houses we lived in the last 40 years that I've lost track. The systems fail and are not designed to last decades, especially if they are builder grade, cheap units installed in new home construction. I had something similar happen in a house we called our primary ...
by ChrisC
Wed Sep 19, 2018 12:10 pm
Forum: Personal Consumer Issues
Topic: When did you decide to move from your home to senior living?
Replies: 15
Views: 3129

Re: When did you decide to move from your home to senior living?

The CCRC's I talked to did not have an interest in our LTCI. I have no interest in Type A facilities. I'm looking more at Type B or C facilities with equity ownership in the unit you'd occupy. Thus far, these facilities, where the purchase price for the unit is very steep and monthly maintenance fe...
by ChrisC
Tue Sep 18, 2018 10:51 pm
Forum: Personal Consumer Issues
Topic: When did you decide to move from your home to senior living?
Replies: 15
Views: 3129

Re: When did you decide to move from your home to senior living?

Sorry if this represents topic creep, but...........Assuming that you have decently priced LTCI, how does that mesh with a CCRC? In other words, if you've paid up front for a CCRC will you essentially collect little or nothing from your LTCI policy if you later require assisted living within the CC...
by ChrisC
Mon Sep 10, 2018 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: I think my father has a gambling problem
Replies: 78
Views: 6876

Re: I think my father has a gambling problem

Thanks for your responses. If I go with him to the casino, do you think he'll gamble like he would otherwise, or do you think he'll gamble less than he would normally to give off the impression that he's not addicted, or just because I would be around and make things different? You're not just look...
by ChrisC
Sun Sep 09, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: I think my father has a gambling problem
Replies: 78
Views: 6876

Re: I think my father has a gambling problem

I'm not sure the incidents of gambling portrayed here foreshadow a gambling problem or addition. They appear more like recreational gambling. But this could be the beginning of something else if (1) draws on financial accounts become excessive and irrational; (2) a compulsive, obsessive quality beco...
by ChrisC
Sat Sep 08, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Helping aging parents (in another state) with housing and care?
Replies: 11
Views: 1310

Re: Helping aging parents (in another state) with housing and care?

We had similar plans, despite good intentions, sound financial planning -- I would caution you to make sure that your parents really want to move out of their current residence and take up residence in another place. We had great plans for my MIL, and when push came to shove for the move -- she wasn...
by ChrisC
Thu Aug 30, 2018 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: high RMD withdraw from 401k question
Replies: 31
Views: 3379

Re: high RMD withdraw from 401k question

This to me sounds like - got lots of income (pension and/or delayed-SS), rather than whether to do RMD's. RMDs are inevitable, all you can do is reduce pre-tax portfolio size up until your next favorable tax bracket. Yes, good to tax optimize, but you also have to look at Net-cash-flow as well - th...
by ChrisC
Wed Aug 29, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to Pass on Money Against My Sister's Wishes (Ethics and Finance)
Replies: 74
Views: 7598

Re: How to Pass on Money Against My Sister's Wishes (Ethics and Finance)

Not going to get into the legal contours of this pool of money left to the OP, as it would be best for the OP to seek the advice of counsel. Nonetheless, I think it is clear that the intent of the mother who provided and titled the account is very unclear. She could have intended that:(1) the accoun...
by ChrisC
Sun Aug 05, 2018 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: "Skin in the game"
Replies: 105
Views: 7508

Re: "Skin in the game"

Define "the game" you think your children are playing. I think the answer is universally true and quite obvious if you're playing the game of life (not merely enrollment in a college).
by ChrisC
Sun Jul 29, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: An argument against self-insuring for long-term care
Replies: 214
Views: 11352

Re: An argument against self-insuring for long-term care

That seems to me to be a curious choice when there is a government program that we all pay for through taxes that is available to assist with nursing home care, and there are lawful ways to shield assets and still qualify for the program. Is it a moral objection? That people don't fully grasp the n...
by ChrisC
Fri Jul 27, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: An argument against self-insuring for long-term care
Replies: 214
Views: 11352

Re: An argument against self-insuring for long-term care

The reality is this: 2/3 of seniors who are sitting in nursing homes today are on Medicaid. In some lower cost of living states -- West Virginia, Mississippi, Georgia, etc. -- that number is much higher. There is a lot of fretting on these boards about LTC, and I am not sure it is really justified....
by ChrisC
Sat Jul 21, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Best Source for Travel Perks (Cruise)
Replies: 3
Views: 624

Re: Best Source for Travel Perks (Cruise)

It might sound counter-intuitive but booking with a reputable, competent travel agent frequently yields good results. Last two cruises, I booked with a TA and I negotiated on-board credits in one case and a cash rebate in another with the TA. I was able to get very favorable rates and up-grades as w...
by ChrisC
Tue Jul 10, 2018 6:57 pm
Forum: Personal Consumer Issues
Topic: Continuing Care Community versus 55 + (no LTC and modest assets)
Replies: 61
Views: 4310

Re: Continuing Care Community versus 55 + (no LTC and modest assets)

And I do not know why you would want a Type C contract especially if you had LTC insurance. Or maybe if you had enough funds to pay fee for service when the time comes. But you may not be on the priority list to get into an assisted unit when you need it. So Type C is not for us. There is also a hy...
by ChrisC
Tue Jul 10, 2018 5:07 pm
Forum: Personal Consumer Issues
Topic: Continuing Care Community versus 55 + (no LTC and modest assets)
Replies: 61
Views: 4310

Re: Continuing Care Community versus 55 + (no LTC and modest assets)

Entry fees in our area are in low to mid 6 figures depending on size of unit. Fee is much less if it a Type C contract which does not cover your health care when you need it, nor does it guarantee you a place in the assisted living or nursing sections. Type C is a fee for service when you need help...
by ChrisC
Fri Jul 06, 2018 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trusts-Homeowners-Umbrella Insurance
Replies: 10
Views: 1803

Re: Revocable Living Trusts-Homeowners-Umbrella Insurance

Can someone explain this topic? Homeowner owns a home that is placed in a revocable living trust. What is the requested modification to the homeowners policy? Why? The requested modification is to add the Trust as an additional insured under the policy, for two reasons. If the Trust is not added, i...
by ChrisC
Thu Jul 05, 2018 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA conversion resulting MAGI over 170K
Replies: 27
Views: 2295

Re: Excess Roth IRA conversion resulting MAGI over 170K

So, the tax free growth in the Roth IRA might be a better deal when converting now at 25% as opposed to keeping those same funds in the tIRA and paying 25% in taxes on RMDs and other withdrawals[/color] What I'm saying is that paying 25% now doing a Roth conversion results in the exact same amount ...
by ChrisC
Thu Jul 05, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA conversion resulting MAGI over 170K
Replies: 27
Views: 2295

Re: Excess Roth IRA conversion resulting MAGI over 170K

Maybe I misunderstood what you meant, but it sounds like you think that money in Roth IRA grows faster or compounds more than money in tIRA. Sorry if I gave you that impression. In fact, converting now at 25% vs paying tax later at 25% ends up with you having the exact same amount of money. The poi...
by ChrisC
Wed Jul 04, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA conversion resulting MAGI over 170K
Replies: 27
Views: 2295

Re: Excess Roth IRA conversion resulting MAGI over 170K

I believe that IRMAA is reasonably small potatoes compared to the potential savings on taxes on tIRA RMDs due to Roth conversions. Please correct me if I am wrong. I am planning getting myself into IRMAA territory by doing Roth conversions in the near future so I'll be crunching the numbers. I thin...
by ChrisC
Mon Jul 02, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Excess Roth IRA conversion resulting MAGI over 170K
Replies: 27
Views: 2295

Re: Excess Roth IRA conversion resulting MAGI over 170K

Thank you Alan S. for you quick response and suggestions. I will think about QCD and the additional conversion into Roth and still remaining within the next level of IRMAA of 214K. In the meantime one more question. Since Medicare Part B premium may not increase till 2020, as IRS lookup would lookb...
by ChrisC
Sat Jun 30, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

You may be looking at the wrong clause in the deed of trust. The release clause is for her to release it while she is alive, such as if you pay the note off in full to her. You should be looking at the successor and or assigns clause, which should include language similar to the note that it termin...
by ChrisC
Sat Jun 30, 2018 12:03 am
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Well, there isn't an easy answer to this question. The short answer is "whatever the title insurance company would require when the property is later sold." This doesn't seem like a probate or estate law question but it's largely a real estate transactional issue. Let's say, the OP keeps the condo a...
by ChrisC
Fri Jun 29, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Is there a reason why you don't just get a mortgage to buy the property? Basically didn't consider this because we were figuring to buy on payments via the carry back loan, and this would be a cheaper and less complicated approach. You mean less complicated for you, rather than her. Not being judgm...
by ChrisC
Fri Jun 29, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Is there a reason why you don't just get a mortgage to buy the property? Basically didn't consider this because we were figuring to buy on payments via the carry back loan, and this would be a cheaper and less complicated approach. You mean less complicated for you, rather than her. Not being judgm...
by ChrisC
Fri Jun 29, 2018 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Would a private annuity make sense where you agree to pay her a certain amount monthly as long as she lives? Gill Better yet; let her sell the condo on the open market and use the proceeds to pay her expenses. And Bank of Son provides her assistance on an “as needed as able basis.” If OP/Son does n...
by ChrisC
Fri Jun 29, 2018 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1452

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

If Medicaid has paid for her care before her death they may put a lien on her estate to recover those costs. If the debt is structured so they can't do that, they may refuse to pay for her care at all. Make sure you are consulting with an attorney familiar with the Medicaid laws in the state where ...
by ChrisC
Thu Jun 28, 2018 4:07 pm
Forum: Personal Consumer Issues
Topic: Any Reason to Keep My "Landline" Phone?
Replies: 65
Views: 4415

Re: Any Reason to Keep My "Landline" Phone?

neilpilot wrote:
Thu Jun 28, 2018 4:04 pm
ChrisC wrote:
Thu Jun 28, 2018 4:00 pm
My home security system is tied to a landline. And so is the elevator in my home. I think I need my landline.
I tend to agree. We lead a simple life: no landline, no CTV, no security system and no elevator. :D
And why not have no internet and no car, too? Just read books and walk. 8-)
by ChrisC
Thu Jun 28, 2018 4:00 pm
Forum: Personal Consumer Issues
Topic: Any Reason to Keep My "Landline" Phone?
Replies: 65
Views: 4415

Re: Any Reason to Keep My "Landline" Phone?

My home security system is tied to a landline. And so is the elevator in my home. I think I need my landline.
by ChrisC
Tue Jun 26, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing condo from elderly Mom with carry back loan -- Deed of Trust or just a Promissory Note?
Replies: 14
Views: 1135

Re: Purchasing condo from elderly Mom with carry back loan -- Deed of Trust or just a Promissory Note?

This is only true if the Quitclaim Deed reflects a gift of the property, i.e. no fair market value consideration is exchanged for the property. The references you cite are missing the point, as they assume there is no fair market value (in cash or like kind consideration) being exchanged and that t...
by ChrisC
Tue Jun 26, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing condo from elderly Mom with carry back loan -- Deed of Trust or just a Promissory Note?
Replies: 14
Views: 1135

Re: Purchasing condo from elderly Mom with carry back loan -- warranty deed or not?

Seriously, I think you might be overthinking this situation. You want to play Bank of Son to help mother's assisted living expenses. Buy the condo from her at FMV -- no seller financing if you have the cash to help her. You now own the Condo and she has cash to pay for her assisted living expenses....
by ChrisC
Tue Jun 26, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing condo from elderly Mom with carry back loan -- Deed of Trust or just a Promissory Note?
Replies: 14
Views: 1135

Re: Purchasing condo from elderly Mom with carry back loan -- warranty deed or not?

In Minnesota, if Medicaid is involved, the loan would not be forgiven, but would be used to recover Medicaid expenses. If money is left over , heirs would receive it. Don’t plan on loan forgiveness until you check facts. This is income stream coming from the son to the mother, with the son as the b...
by ChrisC
Tue Jun 26, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing condo from elderly Mom with carry back loan -- Deed of Trust or just a Promissory Note?
Replies: 14
Views: 1135

Re: Purchasing condo from elderly Mom with carry back loan -- warranty deed or not?

Seriously, I think you might be overthinking this situation. You want to play Bank of Son to help mother's assisted living expenses. Buy the condo from her at FMV -- no seller financing if you have the cash to help her. You now own the Condo and she has cash to pay for her assisted living expenses. ...