Search found 272 matches

by Goodman60
Thu Sep 03, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Health Ins For New Young Federal Employee
Replies: 15
Views: 841

Federal Health Ins For New Young Federal Employee

My son recently started working as a clerk to a Federal court district judge. He's 26 and just out of law school. We both are somewhat clueless as to his health insurance choices. I looked at the options on the web site, but decided maybe someone here can give some suggestions where to start or what...
by Goodman60
Mon Jun 22, 2020 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance, Short Term, for 26 Year Old
Replies: 8
Views: 382

Re: Health Insurance, Short Term, for 26 Year Old

... I do have to disagree with you about it being "low risk" for a young healthy person to go without coverage for a few weeks. Technically you are correct, the risk IS low. But the CONSEQUENCES are huge. Particularly since he has assets that will be at risk if he has a bad accident or ot...
by Goodman60
Mon Jun 22, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance, Short Term, for 26 Year Old
Replies: 8
Views: 382

Re: Health Insurance, Short Term, for 26 Year Old

I'm not a fed employee and not sure if this applies to your son but found this: https://www.opm.gov/healthcare-insurance/healthcare/enrollment/new-federal-employee-enrollment/ Which says VERY IMPORTANT: Enrollment is not retroactive, and it cannot be made effective the day you enter on duty as you ...
by Goodman60
Mon Jun 22, 2020 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance, Short Term, for 26 Year Old
Replies: 8
Views: 382

Re: Health Insurance, Short Term, for 26 Year Old

Another option is to use COBRA if it turns out he actually needs to use medical insurance between the time he loses coverage and gets the new coverage at his job. One time I left a job and didn't start the new one until a couple months later. I knew I could get retrospective coverage if I needed it...
by Goodman60
Mon Jun 22, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance, Short Term, for 26 Year Old
Replies: 8
Views: 382

Health Insurance, Short Term, for 26 Year Old

My son, who will be 26 in July, just graduated from law school. He has been on the law school's student Blue Cross/Shield plan for the past 3 years and the coverage has been great. This coverage expires on July 31st. He will begin work as a clerk for a Federal judge, as an employee of the Federal go...
by Goodman60
Tue Jun 16, 2020 8:59 am
Forum: Personal Investments
Topic: Large Amount in Vanguard Prime MM
Replies: 27
Views: 4483

Re: Large Amount in Vanguard Prime MM

Thank you all for the responses. I decided to split the baby. I put half in Vanguard Short Term Tax Exempt Funds (Admiral) VWSUX and kept the other half in Vanguard Prime Money Market VMMXX. Not a fabulous solution, but there really are no short term fixed income fabulous solutions these days.
by Goodman60
Fri Jun 12, 2020 2:12 pm
Forum: Personal Investments
Topic: Large Amount in Vanguard Prime MM
Replies: 27
Views: 4483

Re: Large Amount in Vanguard Prime MM

I have about $1M in Vanguard Prime MM fund that needs to remains relatively liquid. I could tie it up for no more than a year. I also don't want to start futzing with 4 different banks to get FDIC insurance. What's an easy (within Vanguard, probably) alternative that might have a slightly better ri...
by Goodman60
Fri Jun 12, 2020 1:47 pm
Forum: Personal Investments
Topic: Large Amount in Vanguard Prime MM
Replies: 27
Views: 4483

Large Amount in Vanguard Prime MM

I have about $1M in Vanguard Prime MM fund that needs to remains relatively liquid. I could tie it up for no more than a year. I also don't want to start futzing with 4 different banks to get FDIC insurance. What's an easy (within Vanguard, probably) alternative that might have a slightly better ris...
by Goodman60
Fri May 01, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

I wouldn't do it. Let your kids inherit the money and then they can take it out over 10 years. I don't think they need it, but this is just too big of a tax hit especially with everything going on in the world. You may be very well right. I'll continue to think on this and see how the world rapidly...
by Goodman60
Tue Apr 28, 2020 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

Please keep us posted on what you decide. I'll do nothing for now and re-evaluate after the November election. I'll try to remember to come back here and post at that time. Thank you all for your help here. This post and the ideas that came from it (esp keeping some in Roth to cover an eventual tax...
by Goodman60
Mon Apr 27, 2020 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

Sorry, I again reposted instead of editing my above reply...that I did finally edit correctly.
by Goodman60
Mon Apr 27, 2020 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

I'm the Original Poster. I went back and ran some more Turbotax scenarios. If I use my 2019 tax return (I expect the next few years to look somewhat similar), and converted my entire TIRA in 2019, the tax man would have gotten 36% of it. If I did the conversion over 2 years, or converted half in 201...
by Goodman60
Sun Apr 26, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

This is an EXCELLENT point for me. I have great health insurance (it's expensive but I don't expect it to go away before I hit Medicare). But I'm uninsurable for LTC. I don't like to think about it, but yeah, I could end up spending big dollars on Long Term Care and would be able (or have my tax-aw...
by Goodman60
Sun Apr 26, 2020 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

I'm glad that I decided to post this. I ran the numbers with Turbotax and it appears that if I had made the conversion in 2019, exactly 36% of my TIRA would have been taxable. It's a big bite, but after reading all this, esp BSTEINER, I think I'm going to do it . . . There might be more good though...
by Goodman60
Sun Apr 26, 2020 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

Not clear from your description: Are you already in the 37% bracket without any Roth conversions? Or would you enter this bracket only as a result of converting? If the latter, then you can save on taxes by spreading out your conversions over a number of years so that you do not bump up into the to...
by Goodman60
Sun Apr 26, 2020 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

This was a duplicate post in error.
by Goodman60
Sun Apr 26, 2020 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

I'm glad that I decided to post this. I ran the numbers with Turbotax and it appears that if I had made the conversion in 2019, exactly 36% of my TIRA would have gone to taxes. It's a big bite, but after reading all this, esp BSTEINER, I think I'm going to do it. I'll probably wait until after the N...
by Goodman60
Sat Apr 25, 2020 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Re: Convert to Roth at Top Tax Bracket?

Yes I have a good estate plan done in conjunction with a good estate attorney after a lot of discussion. I certainly can go back to her about this if necessary (at $450/hr.). If I do need her, I'd rather have my thinking prepared ahead of time. Grandchild is a year old. But since both of my adult ki...
by Goodman60
Sat Apr 25, 2020 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth at Top Tax Bracket?
Replies: 35
Views: 2635

Convert to Roth at Top Tax Bracket?

Should I convert my $800,000 IRA to a Roth? I'm 60. About 10 years ago, when Roth conversions first became available to high net worth/high income individuals, I converted half of my IRA to a Roth. My thinking at the time was to take advantage of current tax rates, because I suspected (and was later...
by Goodman60
Thu Dec 19, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Disability and Survivor's Benefit
Replies: 1
Views: 226

Social Security Disability and Survivor's Benefit

One of my good (male) friends became a widower about 2 years ago after his previously very healthy wife suddenly became stricken with a short and fatal illness. His wife was younger and only worked part time for most of their 30+ year marriage. She never earned much, even in her youth when she did w...
by Goodman60
Thu Mar 28, 2019 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth in High Tax Bracket?
Replies: 6
Views: 978

Re: Convert to Roth in High Tax Bracket?

If you are charitably inclined, you could make a charity the beneficiary of your IRA; this would not be counted in your taxable estate, and it would avoid the taxes. When you turn 70-1/2, you can make Qualified Charitable Distributions to avoid the taxable RMDs from your IRA. Actually that’s the cu...
by Goodman60
Wed Mar 27, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth in High Tax Bracket?
Replies: 6
Views: 978

Re: Convert to Roth in High Tax Bracket?

If you have what appears to be a large sum, and expect it to grow (that is, *you* don't plan to be spending it all or most of it), then you might want to at least have an initial consult with an estate attorney. That way, you could start planning what might work best for your heirs, and probably mo...
by Goodman60
Tue Mar 26, 2019 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Convert to Roth in High Tax Bracket?
Replies: 6
Views: 978

Convert to Roth in High Tax Bracket?

I've been reading all of the Roth IRA posts that come up this time of year and it got me wondering. Back in 2010, I converted half of my IRA to Roth. At the time, there was speculation that we could go to a lower income tax situation under various scenarios. And there was other speculation that futu...
by Goodman60
Wed Mar 13, 2019 8:18 am
Forum: Personal Consumer Issues
Topic: Looking for New Property Casualty Insurer
Replies: 8
Views: 792

Re: Looking for New Property Casualty Insurer

So you dont tell us what happened (required for a proper evaluation) and also you dont want to pay more for the better insurers (Amica, Chubb, PURE) :) You make a good point. I just did not like the customer service for a small potential claim. In the end you are probably right that I need to pony ...
by Goodman60
Tue Mar 12, 2019 9:25 am
Forum: Personal Consumer Issues
Topic: Looking for New Property Casualty Insurer
Replies: 8
Views: 792

Looking for New Property Casualty Insurer

I recently had a small claim with Kemper Insurance regarding an issue on my Renter's Insurance policy. I THOUGHT I had a "robust" policy, which I am told is sold to upper income customers with good credit, safe residence neighborhood and low claims history/probability. The "premium cu...
by Goodman60
Mon Jan 07, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Trusting Up
Replies: 8
Views: 951

Re: Trusting Up

Thank you fir the reply. To clarify. I’m willing to give up any and all access to the trust principal forever. But I want to retain the income for life. There are charitable trust options for this, but the remainder has to go to charity, not specific people. A common term is "charitable remain...
by Goodman60
Mon Jan 07, 2019 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trusting Up
Replies: 8
Views: 951

Re: Trusting Up

Thank you for the reply. To clarify. I’m willing to give up any and all access to the trust principal forever. But I want to retain the income for life.
by Goodman60
Mon Jan 07, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Trusting Up
Replies: 8
Views: 951

Trusting Up

Currently one can gift/estate transfer almost $11.4M per person. That is scheduled to rise with inflation but be cut in half after 2025. It might even happen that the tax-free amount can be legislated higher or lower. I am wondering about "trusting up" ahead of then. Is there some sort of ...
by Goodman60
Sat Dec 01, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1649

Hiring a Nanny

A young family member couple wants to hire a nanny for their newborn after the mom goes back to work in about a month. Is there any advantage to them if they employ her full time, more than 40 hours, versus some amount of hours less than that? Can they take any sort of deduction for this (they are h...
by Goodman60
Fri Oct 19, 2018 4:04 pm
Forum: Personal Consumer Issues
Topic: Fairmark Forum (Tax Forum)
Replies: 23
Views: 2603

Re: Fairmark Forum (Tax Forum)

I'm the original poster here. Thank you for the link. It worked for me. The traffic over there isn't anything like it is here, but it's a great forum at tax time. Hopefully they'll have it all up and running as we approach it. Particularly this year with all the big tax changes, the ability to chew ...
by Goodman60
Fri Oct 19, 2018 5:50 am
Forum: Personal Consumer Issues
Topic: Fairmark Forum (Tax Forum)
Replies: 23
Views: 2603

Fairmark Forum (Tax Forum)

I noticed that the Fairmark (Tax) Forum recently reformatted. I cannot for the life of me figure out how to re-register and log in. Folks like Alan S. and other Bogleheads are over there. Any insight on what's going on and how to re-register/log in?
by Goodman60
Mon Aug 06, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting to a Bypass Trust
Replies: 5
Views: 337

Re: Gifting to a Bypass Trust

Contribute to IRAs for adult kids and their spouses. Offer gift money to be used to pay down mortgage balances. But remember that money is fungible. To use the 529 example, every dollar that grandmother contributes to the grandkids’ 529 plans is a dollar that the parents don’t need to contribute/sa...
by Goodman60
Mon Aug 06, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting to a Bypass Trust
Replies: 5
Views: 337

Gifting to a Bypass Trust

I'm involved in a family situation and am wondering about gifting to a Bypass Trust. Daddy died a few years ago and his assets went into a bypass trust. Momma gets the income and the adult kids will get the principal (currently invested in a 70/30 portfolio, so it should continue to grow even after ...
by Goodman60
Wed Aug 01, 2018 9:19 am
Forum: Personal Consumer Issues
Topic: Storing Cord Blood For New Baby
Replies: 13
Views: 1848

Storing Cord Blood For New Baby

A family member will soon give birth and wants to know about storing cord blood. I know absolutely nothing. I understand we cannot discuss the medical aspects of this, but, rather, I'm interested in the consumer issues. Is this a common thing? Is it mainstream? Do the potential rewards later justify...
by Goodman60
Sun Jan 21, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Immediate Annuities For The Chronically Ill
Replies: 1
Views: 343

Immediate Annuities For The Chronically Ill

I seem to recall, a long time ago, reading about immediate annuities for people with chronic illness. Who have a less-than-usual life expectancy. The payout is higher because the annuitant isn't expected to live as long as someone their age in decent health. Do these things still exist and where can...
by Goodman60
Sun Jan 21, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Re: Credit For Defaulter

Watty wrote: Sun Jan 21, 2018 12:35 am Before she buys the car she should also get quotes for car insurance. Your credit score is one of the factors that they use for pricing car insurance so it could cost more than she is expecting.
An excellent point I had not thought about. Thank you, Watty!
by Goodman60
Sat Jan 20, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Re: Credit For Defaulter

dm200 wrote: Sat Jan 20, 2018 3:52 pm
Dealers do not lend money - they find lenders that will make loans to buyers.
Of course that's the case. Figure of speech.
by Goodman60
Sat Jan 20, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Re: Credit For Defaulter

You've talked a whole lot about what you want. What does your niece want? Does she want a new car and all the new debt you're "helping" her get? Niece wants a reliable car to get to and from gainful employment. She should be financially fine within a few years. Yes, this is exactly "...
by Goodman60
Sat Jan 20, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Re: Credit For Defaulter

My niece recently got divorced and had a short-sale of her former home (with her husband). The first mortgage was fully satisfied but the second mortgage was defaulted upon, with agreement by the lender for the short sale. Anyway, I would like to help my niece get a new car. Perhaps a new Corolla o...
by Goodman60
Sat Jan 20, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Re: Credit For Defaulter

TomatoTomahto wrote: Sat Jan 20, 2018 2:54 pm Good luck with your caveats. I’m preparing the popcorn.

ETA: I have no directly applicable experience.
:beer
by Goodman60
Sat Jan 20, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Credit For Defaulter
Replies: 14
Views: 1385

Credit For Defaulter

My niece recently got divorced and had a short-sale of her former home (with her husband). The first mortgage was fully satisfied but the second mortgage (not small) was defaulted upon, with agreement by the lender, for the short sale. Anyway, I would like to help my niece get a new car (the old car...
by Goodman60
Wed Jan 17, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plans As Estate Planning Tool
Replies: 1
Views: 441

529 Plans As Estate Planning Tool

I realize that, at least until 2025, an even smaller group of people will be subject to Federal Estate Tax. And after that, under the recently enacted current law, it will still be a small group. That being said, it seems that 529 Plans could be a really good way to legally hedge Federal Estate Tax ...
by Goodman60
Tue Dec 12, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Bypass Trust Without Dying
Replies: 7
Views: 1558

Re: Bypass Trust Without Dying

I am the OP and am reviving this thread. What about this: Say a wealthy widow wants to trust up assets that will eventually go to her kids, but retain the right to the income from the trust. Back in 2012, for instance, there was concern that the estate tax exemption would fall from $5M to $1M. (I th...
by Goodman60
Thu Sep 21, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for a Credit Shelter/Bypass Trust
Replies: 0
Views: 275

Insurance for a Credit Shelter/Bypass Trust

Does a Credit Shelter Trust (AKA "Bypass Trust"), need liability insurance if it only owns publicly traded securities (like Vanguard Funds and ETFs? I know of a situation where such a trust owned a home and was named on the property casualty insurance for that home. The home was sold so th...
by Goodman60
Thu Sep 07, 2017 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 3379

Re: Paying 4 years tuition for college to get discount?

I prepaid for my kid. The school I dealt with reported the payments as received each semester. The upfront money was credited to a prepaid account that was drawn down each semester.
by Goodman60
Thu Sep 07, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: how often does high ACT score == scholarship?
Replies: 102
Views: 12833

Re: how often does high ACT score == scholarship?

My own observation on upper middle class students who are great, but not quite the off-the-chart ones who cure cancer and create world peace, is this: Their academic accomplishment will get them a choice: Scholarships at good but not "name" institutions, OR entrance into top, "name&qu...
by Goodman60
Mon Sep 04, 2017 8:45 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 355
Views: 48603

Re: Michael Kitces 4% rule podcast on Madfientist

What's going on here? LPMs have a 20% failure rate The problem with LMP is that it underestimates the costs substantially. It does this by constructing unrealistic scenarios and not actually matching liabilities. https://medium.com/@justusjp/liability-matching-portfolios-have-a-20-failure-rate-27b7...
by Goodman60
Sun Sep 03, 2017 11:35 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 355
Views: 48603

Re: Michael Kitces 4% rule podcast on Madfientist

His point about the anxiety of an SWR plan is fabulous. And that you either die underspent or broke.
by Goodman60
Sat Sep 02, 2017 8:04 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces 4% rule podcast on Madfientist
Replies: 355
Views: 48603

Re: Michael Kitces 4% rule podcast on Madfientist

It is an oft-repeated (and good) point that if you start out taking 4% and the market declines significantly in year 2, that you are not going to happily take 6 or 7% going forward forever. If you thought 4% was going to give you $40K income but you in reality can only take $25K, that's not skippin...