Search found 1752 matches

by bayview
Wed Nov 13, 2019 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Cash & Checkbook Register Reconciliation
Replies: 83
Views: 5201

Re: Cash & Checkbook Register Reconciliation

I balance/reconcile our accounts weekly, using a checkbook register. I enter transactions as we set them up, not when they show up on the website. It keeps us aware of activity. The one thing that I haven’t really figured out is how to capture/ track activity in our VG brokerage MM account. I still ...
by bayview
Sun Nov 03, 2019 10:43 am
Forum: Personal Finance (Not Investing)
Topic: FYI, Spanish bank ATMs [Dynamic Currency Conversion]
Replies: 64
Views: 4549

Re: Sneaky ATMs in Europe

During a recent trip to Portugal, I encountered a choice at an ATM (Multibank) that I thought was deceptive. I was in a rush and needed to get cash for bus ride. After entering my personal data, I was asked if I wanted to accept the guaranteed rate of $1.22/1euro. Not having paid much attention to ...
by bayview
Sun Nov 03, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4121

Re: Do I Have a Crummy Local Government Pension?

DVMResident wrote:
Tue Oct 29, 2019 11:55 am
How is this invested?
4th and Inches wrote:
Wed Oct 30, 2019 9:47 am
The pension administrators handle that.
Yes, but how do the pension admistrators invest it?
by bayview
Mon Oct 28, 2019 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Do you ever wish you could help relatives improve their finances?
Replies: 12
Views: 1016

Re: Do you ever wish you could help relatives improve their finances?

You're right, it probably wouldn't be well-received. The desire to help is very understandable, but the best you can do is IF asked for advice, perhaps say something along the lines of "I do my investing in things that I understand, which for me is a few broad-based indexes with low costs." Even the...
by bayview
Mon Oct 28, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Roth vs Roth Brokerage
Replies: 11
Views: 663

Re: Roth vs Roth Brokerage

DH’s Roth was converted to a brokerage account at some point. My Roth is still on the original mutual funds platform. There doesn’t seem to be any functional difference on our end, although VG periodically tries to get me to change. Working on the principle of “if it ain’t broke (to me), don’t fix i...
by bayview
Fri Oct 25, 2019 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: passing assets before retiring?
Replies: 23
Views: 2238

Re: passing assets before retiring?

edit: double post
by bayview
Fri Oct 25, 2019 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: passing assets before retiring?
Replies: 23
Views: 2238

Re: passing assets before retiring?

I hear this once in awhile from people who think (or have been told) it’s a smart financial move to turn over their assets to a family member so that Medicare will pay all their expenses rather than the government getting all their assets. I try to explain that it doesn’t work this way but this is ...
by bayview
Wed Oct 23, 2019 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard checking -- Use it or lose it
Replies: 71
Views: 5409

Re: Vanguard checking -- Use it or lose it

I hope that "important information" is the phrase to remember. Vanguard sends us so much junk that we have started deleting them unread.

I guess we'll have to open them and give them a glance. * sigh *
by bayview
Wed Oct 23, 2019 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Executor for parent in Florida seeking guidance
Replies: 46
Views: 3220

Re: Executor for parent in Florida seeking guidance

Great thread. Been reading the Nolo book on Estate Planning and they recommend placing the house in a Living Trust to avoid probate and expedite transfer of title. Thoughts on that? How difficult is it to sell a house in probate? While there are probate horror stories, I have done probate in Florid...
by bayview
Wed Oct 16, 2019 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

I get cranky when considering those fees. (Not the most rational basis for decision-making, but it's a real one.) Have you looked at doing a tax-free 1035 Exchange to Fidelity, Vanguard, etc.? I have, in a very general way, but frankly, I don’t believe in annuities other than (sometimes) SPIAs. The...
by bayview
Wed Oct 16, 2019 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

There are usually no good choices with an investment type annuity. If you keep it (and take it over your lifetime or life expectancy) you continue to incur the costs (usually 2.5% to 3%, though you may be able to transfer it to a lower cost one), and you'll convert the future qualified dividends an...
by bayview
Wed Oct 16, 2019 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

Thanks to all! What a wealth of wisdom here. She's 92, I'm 65, DH is 69 for the things that age affects. One factor is that she is no longer considered competent for financial decision-making. I'm FPOA (and HCPOA), and I'm doing my best to do what's wise for her and also consistent with her wishes, ...
by bayview
Wed Oct 16, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

aristotelian wrote:
Wed Oct 16, 2019 9:25 am
If you are the POD beneficiary, they would bypass the estate and go straight to you. Have you looked into transferring them into an Inherited IRA?
They are non-qualified annuities. I don't think there's anything similar I can do with them, is there?
by bayview
Wed Oct 16, 2019 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

HueyLD wrote:
Wed Oct 16, 2019 9:18 am
Vanguard has a short writeup on inheriting annuities. Take a look.

https://investor.vanguard.com/annuity/inheriting
Thanks for the reference! Will do.
by bayview
Wed Oct 16, 2019 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Re: Taxation on inherited variable annuity

How are these "considerable medical expenses" currently being paid? If some of the annuity money is taken, how does this affect her assisted living arrangement? While you see this as an "ouch" come tax time, perhaps look at the cup half full side of things. You're getting money for nothin'. She has...
by bayview
Wed Oct 16, 2019 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Taxation on inherited variable annuity
Replies: 18
Views: 751

Taxation on inherited variable annuity

Hi all, I'd like to get a reality check on something an agent said. My mother, who is now in assisted living, has four annuities, all deferred, that she bought in the past to take care of annoying cash floating around. There are a LOT of gains in these things. I am POD on all four, and the proceeds ...
by bayview
Mon Oct 14, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Applying to a Federal Job
Replies: 28
Views: 2828

Re: Applying to a Federal Job

Disregard all the usual advice about keeping everything on one sheet of paper. Federal resumes can and should be multiple pages in length, listing all the wonderfulness that you have ever shown in a job, specifically how something you did there applies to the KSA's of the posted position. (Mine had ...
by bayview
Sat Oct 12, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Refinancing NYC co-op apt we don't live in, should we go 30-year fixed or 7/1 ARM?
Replies: 22
Views: 2181

Re: Refinancing NYC co-op apt we don't live in, should we go 30-year fixed or 7/1 ARM?

Since you might have 3 or so more years of ownership after the 7 years are up, how much and how often can the new rate ratchet up? Hi all, My spouse and I own a co-op apartment in New York City, which is used by a parent as their residence (they cannot pay rent and we wouldn't ask them to - this is ...
by bayview
Fri Oct 11, 2019 11:13 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 notice -- hard lesson (missing cost basis)
Replies: 35
Views: 3181

Re: IRS CP2000 notice -- hard lesson (missing cost basis)

Thanks, this is very helpful. I made the mistake of assuming that my mother had done this correctly in previous years. lol I'll wade into 8949 and its friends. If you inherited these assets the basis would be stepped up. The executor or whoever transferred the assets to you should have given you th...
by bayview
Fri Oct 11, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 notice -- hard lesson (missing cost basis)
Replies: 35
Views: 3181

Re: IRS CP2000 notice -- hard lesson (missing cost basis)

I should have mentioned that the muni bond transactions were in the field that indicated that they did not need to be reported. Otherwise, she would have reported it with the cost basis. Do you mean that the 1099-B that you received from the brokerage has the "Non-covered security" box checked, acc...
by bayview
Fri Oct 11, 2019 9:15 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 notice -- hard lesson (missing cost basis)
Replies: 35
Views: 3181

Re: IRS CP2000 notice -- hard lesson (missing cost basis)

I should have mentioned that the muni bond transactions were in the field that indicated that they did not need to be reported. Otherwise, she would have reported it with the cost basis.
by bayview
Fri Oct 11, 2019 9:01 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 notice -- hard lesson (missing cost basis)
Replies: 35
Views: 3181

Re: IRS CP2000 notice -- hard lesson (missing cost basis)

I just went through this with my mother's 2017 return. There were 4 muni bond purchases, each for $20k, for which the IRS didn't have a cost basis, and they cheerfully proposed that she (I) write them a check for around $28k. As I knew nothing about municipal bonds and taxable brokerage accounts in ...
by bayview
Thu Oct 10, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Need help !!! US or Canadian universities?
Replies: 56
Views: 3495

Re: Need help !!! US or Canadian universities?

Absolutely do not pay for Cornell if he can get into a top Canadian university. Do not even begin to consider destroying your retirement funds simply because he wants to go to Cornell (or anywhere else). The deal I cut with my kids (after paying for private middle and high school) was that I would p...
by bayview
Thu Oct 10, 2019 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Premiums when collecting Social Security benefits
Replies: 7
Views: 1107

Re: Medicare Premiums when collecting Social Security benefits

After a lot of research, I decided to start taking SS when I turned 65 (tomorrow!) So MC-B premiums start at the same time as SS payments. I received a somewhat snippy letter yesterday stating that, since my MC-B payment was “overdue”, my first SS payment next month (in arrears) would be lower by t...
by bayview
Wed Oct 09, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Premiums when collecting Social Security benefits
Replies: 7
Views: 1107

Re: Medicare Premiums when collecting Social Security benefits

After a lot of research, I decided to start taking SS when I turned 65 (tomorrow!) So MC-B premiums start at the same time as SS payments. I received a somewhat snippy letter yesterday stating that, since my MC-B payment was “overdue”, my first SS payment next month (in arrears) would be lower by th...
by bayview
Sun Oct 06, 2019 10:54 pm
Forum: Personal Consumer Issues
Topic: Addressing complicated answer to Global Entry question "Have you ever ... had charges that were ... removed"?
Replies: 11
Views: 2128

Re: Addressing complicated answer to Global Entry question "Have you ever ... had charges that were ... removed"?

IANAL, but I would have thought that any charges in your situation were dropped , not expunged or removed. The latter terms seem to refer to a deal where in exchange for something or other on your part, valid charges were removed from your record. In contrast, it seems that in your case, charges wer...
by bayview
Sun Sep 29, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Employer is relocating - how to be allowed to work remotely
Replies: 51
Views: 3848

Re: Employer is relocating - how to be allowed to work remotely

Not to beat a dead horse but if you are truly irreplaceable then the best thing for the company to do might be to just cancel your project and do some other sort of business. The problem is that even if they paid you boatloads of money to keep you happy and let you work remotely then there is a sti...
by bayview
Sun Sep 29, 2019 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Employer is relocating - how to be allowed to work remotely
Replies: 51
Views: 3848

Re: Employer is relocating - how to be allowed to work remotely

...2) I telecommute from Asia for my US job. The compromise was I paid for the travel expense to the USA 4 times per year for the physical on-site meeting. So, essentially, from the employer's standpoint, there is little to no difference in term of my physical presence in the USA. KlangFool KlangFo...
by bayview
Sat Sep 28, 2019 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20290

Re: financially clueless senior MIL who thinks she’s rich

I hate situations like this because it's really easy to say "butt out" but ultimately you'll be the one cleaning up the mess. Nobody is going to let their mother roam the streets homeless, which means your household will ultimately pay the bill for her irresponsibility. +1. I’ve been through this. ...
by bayview
Thu Sep 26, 2019 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: first house- 1 bedroom vs. 2 bedroom
Replies: 60
Views: 5143

Re: first house- 1 bedroom vs. 2 bedroom

Rent; save the difference between the rent and what you'd pay for a mortgage (double bonus: you get used to not having that money plus you have more cash); at the next significant price dip, buy if you want. One thing I haven't seen mentioned - or at least, I haven't seen it stressed - is what happe...
by bayview
Thu Sep 26, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20290

Re: financially clueless senior MIL who thinks she’s rich

She’s an adult. Explain your concerns once, including the calculations you’ve presented here. Then drop it. You don’t have to save her from her own bad decisions. If she runs out of money and has to get public assistance or be placed in a Medicaid nursing facility at the end of her life, that is he...
by bayview
Mon Sep 16, 2019 5:42 am
Forum: Personal Finance (Not Investing)
Topic: Spendthrift Trustee; Bank&Trust or "professional fiduciary"
Replies: 26
Views: 2319

Re: Spendthrift Trustee; Bank&Trust or "professional fiduciary"

...Now I need to find a euphemism for ‘Spendthrift Trust” in explaining the basics to our daughter. No, you don't. Don't sugarcoat. It is perfectly reasonable to explain to her that you want to take care of her in a way that won't endanger her recovery, and that the standard term for this approach ...
by bayview
Mon Sep 16, 2019 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 486
Views: 50261

Re: Selling home- Demanding Buyer (Repairs)

Question for brokers and agents: Since as noted above, listing price history now shows (in Zillow, at any rate), is there ever any agent-to-agent discussion along the lines of "yes, my poor client wound up with a buyer from heck, who tied us up forever until we walked away, and now we're starting al...
by bayview
Mon Aug 26, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%
Replies: 25
Views: 2130

Re: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%

Keep track of what $3.5 million grows to each year. I’m pretty sure that you won’t be paying $30k each for new cars for very long, even with trade in.
by bayview
Sun Aug 25, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 8687

Re: How to help an employee who is in debt and requesting a loan

And perhaps once all this is sorted out, your wife might want to investigate setting up an EAP (Employee Assistance Program), if it is affordable. (I have no idea how much these would run.) It is admirable that she wants to help, but an EAP would avoid many of the ticking time bombs that have been p...
by bayview
Sun Aug 25, 2019 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Sudden Death: Sorting Estate in sorrow
Replies: 17
Views: 6558

Re: Sudden Death: Sorting Estate in sorrow

I'm so sorry to hear of your loss. I'm guessing that in this situation most of the deceased's assets were in retirement accounts such as 401k or IRAs. One important thing to keep in mind is that the transfer of retirement accounts to heirs is usually not governed by a will or by the normal "estate"...
by bayview
Sun Aug 25, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Sudden Death: Sorting Estate in sorrow
Replies: 17
Views: 6558

Re: Sudden Death: Sorting Estate in sorrow

Sorry for your family’s loss. Someone should gather up his files/records, computer, mobile phone and arrange to have his mail forwarded to his family as it might be useful in sorting out his financial matters. Hopefully someone knows the passwords for his electronics/email account. Is there a W2 em...
by bayview
Sun Aug 25, 2019 8:25 am
Forum: Personal Finance (Not Investing)
Topic: What are your thoughts on USAA for checking? Insurance? Banking in general?
Replies: 44
Views: 2352

Re: What are your thoughts on USAA for checking? Insurance? Banking in general?

Gardener, you just beat me! :D So this won't be as relevant to your original question, but in general: For those of us who have USAA and post in answer to questions like this, it's really helpful to others to add how we're eligible (what tier of USAA), as this definitely affects services. I joined a...
by bayview
Sun Aug 25, 2019 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Credit limit increase in retirement?
Replies: 18
Views: 1669

Re: Credit limit increase in retirement?

I'd like a higher credit limit on my most used credit card, as we're travelling more and we sometimes want to charge a number of flights, etc. on the card and I don't want to get too close to the card's limit (although we could use other cards if necessary). The issuer has been suggesting an increa...
by bayview
Sat Aug 24, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security replacement annuity -- Is there such a product?
Replies: 64
Views: 5157

Re: Social Security replacement annuity -- Is there such a product?

Back to the OP's question: I would think that the best bet would be to postpone buying a supplemental annuity until spouse1 dies. If the insurance industry created a just-in-case annuity to compensate for spouse1's lost SS, which would have to be purchased while both spouses were alive, there would ...
by bayview
Tue Aug 20, 2019 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard vs. Fidelity??
Replies: 70
Views: 6715

Re: Vanguard vs. Fidelity??

Vanguard funds are more tax-efficient (you said this would be for taxable.) Their MMF rates are better. But you should keep your own set of clear and organized records, especially cost basis, if you go with Vanguard. Save your monthly statements. Vanguard’s IT issues are starting to make me feel a ...
by bayview
Tue Aug 20, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Discover cash back Credit Card - Interest charges
Replies: 36
Views: 1890

Re: Discover cash back Credit Card - Interest charges

OP, at some point, you didn't pay your balance due in full by the due date. That amount is just hanging on, generating interest over and over. Log in NOW, pay off everything - the balance of the previous month's statement, plus any charges incurred since then ("balance as of now" or some such langua...
by bayview
Tue Aug 20, 2019 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Re: Applying for Medicare / Any Problems Submitting Requested Documents?
Replies: 25
Views: 1320

Re: Applying for Medicare / Any Problems Submitting Requested Documents?

Also, Medicare no longer uses your SSN as your Medicare number. There is now a unique number that will be generated once you are on Medicare.
by bayview
Tue Aug 20, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard vs. Fidelity??
Replies: 70
Views: 6715

Re: Vanguard vs. Fidelity??

Vanguard funds are more tax-efficient (you said this would be for taxable.) Their MMF rates are better. But you should keep your own set of clear and organized records, especially cost basis, if you go with Vanguard. Save your monthly statements. Vanguard’s IT issues are starting to make me feel a b...
by bayview
Mon Aug 19, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on quickly funding an irrevocable trust with IRA annuities
Replies: 16
Views: 954

Re: Advice on quickly funding an irrevocable trust with IRA annuities

I'm terribly sorry to hear this. It sounds like your mother is going to honor his wishes as expressed in his will. That takes a lot of courage to do.
by bayview
Sun Aug 18, 2019 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Are you a "solo ager?"
Replies: 133
Views: 18637

Re: Are you a "solo ager?"

Hi, brandy, I picked these out from your post: I have 2 disabling conditions, both of which have pretty much kept me home bound since 1998... One is severe MCS/EI so I have no real friends, and not much chance to make any, everybody wears fragrance products... Really? Everyone wears fragrances? No e...
by bayview
Sun Aug 18, 2019 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from Bay area, CA to Knoxville, TN
Replies: 98
Views: 7450

Re: Moving from Bay area, CA to Knoxville, TN

Former Knoxvillian here. The Knoxville metro area has exploded in the last 10-15 years or so. Before people's preconceptions kick in: - Knoxville is the home of the main campus of the state university (University of Tennessee). Almost 23K undergraduates and 6K graduates, many from the Middle East an...
by bayview
Fri Aug 16, 2019 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads plan to utilize Independent Living facilities?
Replies: 108
Views: 11888

Re: Do Bogleheads plan to utilize Independent Living facilities?

It's almost always the case that people want to maintain their independence and "age in place." Like most things, this will depend a lot on money, but it will also depend on family support. This is an uncomfortable topic but I run across it frequently with patients, and it's a very rare family that...