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In my experience, the cancel option disappears a few days, or as much as a week, before the settlement date. Once that happens, I think you no longer have the option to cancel.

Once the CD is in effect, it will show up in your holdings display. That will also show what your CD is worth on a daily basis. The value will fluctuate with interest rate changes.

Welcome to the forum.

ncbill wrote: ↑Mon Mar 20, 2023 10:54 am Comprehensive is cheap here, e.g. $2-$3 monthly w/ $100 deductible on my older vehicles so I keep that even after dropping collision.

+2 Comprehensive coverage is cheap. It's the collision coverage that is more expensive. There is little to be saved by dropping comprehensive.

Leesbro63 wrote: ↑Mon Mar 20, 2023 6:10 am I remember some relatives, in about 1979, being offered by their Savings & Loan, to pay off their mortgage at less than 100 cents on the dollar. I think their balance was something like $25,000 and they paid it off for about $18,000. Perhaps this is what led to the S&L crisis.

I had a 6.75% mortgage at that time and money market fund rates went up to 18%. The bank wanted to get out from under that mortgage. So, they offered to lend me money at the "bargain" rate of *only* 14% if I would refinance the mortgage at that rate. I just laughed as I threw the offer letter into the trash.

Bogle7 wrote: ↑Sun Mar 19, 2023 8:06 pm

Agent 99 wrote: ↑Sun Mar 19, 2023 5:31 pmThe Fidelity QCD Form states “you should follow up directly with charity for receipt…”

But, I don’t and so far, no IRS problems.

As long as you do not get audited, the IRS does not know whether or not you have the receipt. However, should you get audited, they can ask for it. I don't want to push my luck and the charities are happy to send me a thank you letter.

quantAndHold wrote: ↑Sun Mar 19, 2023 2:59 pm

sport wrote: ↑Sun Mar 19, 2023 2:55 pm I got to take a short trip on some else's motor home one time. I disliked the experience intensely. I really disliked staying in camp grounds where everyone seemed to go to sleep as soon as it got dark and one had to be very quiet after 8:30 PM. So, no music, no TV. Very boring.

Where was that? My experience in campgrounds has been the exact opposite, wanting to sleep while the people in the next site were having a party.

Nobody has ever stopped me from watching TV inside the motorhome. Frankly, how would they even know I was doing that?

IIRC, it was a KOA. Probably in Indiana or Illinois. It was a loooong time ago.

I got to take a short trip on some else's motor home one time. I disliked the experience intensely. I really disliked staying in camp grounds where everyone seemed to go to sleep as soon as it got dark and one had to be very quiet after 8:30 PM. So, no music, no TV. Very boring. Then there was the fun experience of emptying the holding tank.

I much prefer to have separation of my everyday spending money from my investments. Although we are careful, identity theft, fraud, forgery, and other forms of theft are always a possibility as well as errors. By having a "firewall" between my spending money and my investment money, I feel that most of my assets are insulated from a lot of those possibilities. The amount of money I have in the bank is limited to about one month's spending needs. If I need more than that, it is readily available.

retired@50 wrote: ↑Sun Mar 19, 2023 2:15 pm If I had to write a big check, I'd just transfer the money to my checking account at my local credit union.

I don't feel the need to combine the "banking" and "investing" functions.

Regards,

I do the same. A transfer from Vanguard to my bank account only takes a day or two. Then I can write a personal check or use the bank's bill pay system. I use Vanguard checks only for QCD donations.

If you or your custodian send a check to a charity, it may not meet the requirements for a QCD. You could have bought something from the charity. Perhaps someone else donated a vehicle to the charity and the charity sold it to you. To qualify for a QCD, the letter from the charity must state that nothing of value was provided in exchange for the payment. So, you must always have a proper letter of acknowledgement from the charity. If my return was audited, I would surely want such a letter. Accordingly, it does not seem that a proper QCD can be made anonymously. Do you have access to a draft of a proper letter of acknowledgement? It would seem to me that it might be advisable to send something along to the charity that they can fill in the...

If you or your custodian send a check to a charity, it may not meet the requirements for a QCD. You could have bought something from the charity. Perhaps someone else donated a vehicle to the charity and the charity sold it to you. To qualify for a QCD, the letter from the charity must state that nothing of value was provided in exchange for the payment. So, you must always have a proper letter of acknowledgement from the charity. If my return was audited, I would surely want such a letter. Accordingly, it does not seem that a proper QCD can be made anonymously.

Fremdon Ferndock wrote: ↑Sun Mar 19, 2023 12:35 am along with my letter identifying the fact the check is a QCD and asking for acknowledgement.

You don't have to tell the charity it is a QCD. For the charity, it is just a donation. They have to provide a letter of acknowledgement either way. The donation gets identified as a QCD on your tax return when you file your taxes.

I have contacted charities directly to tell them I will make a contribution but do not want my name/address to be entered into their database. You can state implicitly or explicitly that if you receive any mailings -- beyond the acknowledgement letter -- from the charity, they will no longer get donations from you. Be warned, however, that agreement can break down if personnel change and may have to be reiterated. (My experience.) Doesn’t that seem harsh to the charity because of a minor error by a volunteer. As an alternative, you can just ask the charity not to solicit donations from you more often than once a year. There is one charity that I donate to at the beginning of the year. When they started sending numerous solicitations, I wro...

Faith20879 wrote: ↑Sat Mar 18, 2023 5:03 pm

jebmke wrote: ↑Sat Mar 18, 2023 4:16 pm
Not sure you can do QCDs anonymously. I am pretty sureyou need to get an acknowledgement from the recipient the same as you would with a Schedule A donation. You may need this to satisfy an inquiry from the IRS.

I think this is the key point. I glanced pub 1771 but didn't see a mention of QCD, I think it is for reporting regular charity giving. Disclaimer: I have not started qcd but am very keen to learn.

Pub 590B refers to Pub 526 which refers to Pub 1771.

From IRS Pub 1771:
„ Donors must have a bank record or written communication from a charity for any
monetary contribution before the donors can claim a charitable contribution on their federal
income tax returns.
„ Donors are responsible for obtaining a written acknowledgment from a charity for any
single contribution of $250 or more before the donors can claim a charitable contribution on
their federal income tax returns.
„ Charitable organizations are required to provide a written disclosure to a donor who
receives goods or services in exchange for a single payment in excess of $75.

I've read several articles on how to purchase CDs and I want to see if I'm correct on my understanding: -When you buy a brokered CD - you are buying it from another person and not the bank. This is true if you buy one on the secondary market. An original issue is from the bank -When you buy a brokered CD - the seller is turning it over to you (like a car title) and all the interest will be coming directly from the bank after you buy it. Yes if bought on the secondary market -At Vanguard (Schwab, etc), new issues are not brokered issues (even though they are in a brokerage account). Brokered only means you bought it from a previous owner (and not the bank) No, all CDs in a brokerage account are brokered CDs, regardless if they are new issue...

Depending on other sources of earned income, you may need to file Schedule SE and make Social Security payments.

Brokered CDs give a better rate than bank CDs. You can't just compare the percentage because brokered CDs list annualized interest rate and do not compound while bank CDs advertise APY with compounding. The Discover 5 year 4.10% APY would pay a total of $22251.35 of interest at maturity. (The calculator on their website says $22261.) The Discover brokered CD at 5.00% interest rate would pay a total of $25000 at maturity. You'd need a 4.57% APY to match the same total return. It's not quite that simple. The Discover CD will pay its interest to your settlement fund (semiannually?). The settlement fund will then "compound" that interest at the settlement dividend rate, which of course keeps changing. However, that rate is not zero, ...

In my experience, a lot of direct CDs are offered at attractive "special" rates for odd terms. However, when those CDs mature, the conditions specify automatic renewal unless action is taken during a short "grace period" typically about one week. Of course, those renewals are at very unattractive "standard" rates. So, if one is not paying enough attention, or if they get old and need someone else to pay attention for them, or if their heirs now own the CDs, the CDs may get automatically renewed at low rates. If that happens, you cannot get your money out of that low rate CD without paying a penalty. Brokered CDs, OTOH, do not have such unfavorable conditions. When they mature, the money goes into your settlemen...

When we were looking for a house to buy, we went to a number of open house showings. One of the agents showing a house impressed me as being very competent. We used that agent to sell our house.

You will be insured for 250K for each bank.

When I need to mail a check, I use my bank's bill pay system. The bank takes care of the mailing, including the postage. There is no cost for this service.

Our development is on a busy street. However, the street side of the development is lined with mature evergreen trees. The trees block most of the sound. So, the details of a particular property are important.

Tom_T wrote: ↑Sat Mar 04, 2023 9:38 pm See if any of the tile grout in the shower is cracked or worn. Water gets splashed on the walls, goes in the cracks, and has nowhere to go but down. That happened to us. Regrouting fixed the leak.

We had this same problem.

DanNJ wrote: ↑Sat Mar 04, 2023 7:20 pm I would like to provide her with a little more to spend each year beyond her current income to allow her to travel and enjoy life to the fullest while she is healthy.

It does not matter what you want. What does she want?

Mikosan wrote: ↑Fri Mar 03, 2023 8:25 pm And most of their bond portfolio is in tax-free so that's a good thing.

If their tax bracket is not too high, they may have more after tax yield in taxable bonds.

Thanks Hyerchicken and jebmke for your prompt responses.
I shall proceed as you suggest.

Hyperchicken wrote: ↑Wed Mar 01, 2023 3:57 pm What did you put on your 2021 form 1040 line 7?

I entered (3000).

I am working on my federal taxes for 2022. I had a tax carryover from 2021. However, when I filled out Schedule D for 2021, I made an error. When I completed Schedule D, I put my entire loss on line 21, rather than only $3000. This did not cause a problem with my 2021 taxes. However, when filling out the loss carryover worksheet for 2022, it made my carryover go to zero.
I can easily use $3000 for the 2022 worksheet, however it will not agree with my 2021 Schedule D. So, my question is: Do I need to file a revised Schedule D for 2021. I used the correct $3000 on form 1040, it's just Schedule D that has an incorrect entry.

shunkman wrote: ↑Tue Feb 28, 2023 7:24 am I believe that if you purchase your HAs at Costco they would be insured against loss or damage for two years at no additional cost

A family member just bought hearing aids at Costco for $1599. The Costco people are not on commission. The first question they asked was "why do you think you need hearing aids?". There was no hard sell, or even a soft sell.

Our Medicare Advantage Plan has started to offer this.

jebmke wrote: ↑Mon Feb 27, 2023 10:18 am

armeliusc wrote: ↑Mon Feb 27, 2023 10:15 am In the meantime, I had DW just drop the temperature set a bit in the meantime and it has not happened again so far.

What was the temp before and now? Separate from the leak issue, in my experience WHs often are installed with the temp set pretty high and can be turned down to a lower temperature for pure monetary reasons.

A lower temperature may also be safer. Water that is too hot is dangerous.

Beensabu wrote: ↑Sat Feb 25, 2023 9:27 pm

gtrplayer wrote: ↑Sat Feb 25, 2023 9:16 pm Saying a student is interested in music doesn’t mean they’d be ok only taking lessons outside of school. That’s like saying you can throw a football with your friend in the backyard so why join the team…

It doesn't just have to be lessons. You can join an ensemble, if that's where you're at.

A good school music program provides things not available elsewhere, such as concert band, marching band, and symphony orchestra. Been there done that. My children too.

In some areas, you can send your children to public schools other than their assigned school if you pay tuition.

While some cities are not all that desirable, the suburbs of those cities can be delightful places to live. It is not clear if the list presented includes the suburbs or not.

I used to use mail order for Rx's. Then, one time I received one that wasn't right. It was a nasal spray so I could tell it was different. I believe it was damaged by temperature outside the allowable range. (The USPS trucks are not temp controlled and neither is my mail box.) My Dr. told me not to use it. The mail order pharmacy would not replace it unless I paid a second copay. For pills, there would be no way to know if they were not right. Since I no longer have any confidence in the quality of mail order Rx's, I pay a little extra and use a pharmacy at the corner.

The QCD can be made by your IRA trustee either through check or electronic transfer. Can you give an example of an electronic transfer for a QCD? There is no user interface at Vanguard equivalent to making a grant from a Donor Advised Fund. Maybe you are describing an ACH transfer from an IRA account with check writing privileges to a charity? I prefer to have the trustee issue the check so they know it is a QCD and their online records are updated accordingly. It is possible to write a check yourself from an IRA account that has check writing privileges but at least at Vanguard if you do that they don't know the check is for a QCD. Open to learning something new if I am missing something. Vanguard doesn't know if your distribution is real...

tibbitts wrote: ↑Fri Feb 24, 2023 8:24 pm

sport wrote: ↑Fri Feb 24, 2023 8:07 pm

albireo13 wrote: ↑Fri Feb 24, 2023 6:54 pm Unfortunately my wife is convinced that I have no financial acumen and an advisor is the safest way to go.

If it was just me I would move it right away into low cost
index funds.

If you feel you must have an advisor, use Vanguard PAS. The fee is 0.30% per year. Once they have it set up for you, you can discontinue the service and keep the same funds if you wish.

I'm not sure you can keep the funds if you buy the new PAS-only funds?

I would think it would be easy to avoid those funds. This would certainly be true if you knew enough to ask not to be put into such funds. A little Boglehead advice would provide that knowledge.

albireo13 wrote: ↑Fri Feb 24, 2023 6:54 pm Unfortunately my wife is convinced that I have no financial acumen and an advisor is the safest way to go.

If it was just me I would move it right away into low cost
index funds.

If you feel you must have an advisor, use Vanguard PAS. The fee is 0.30% per year. Once they have it set up for you, you can discontinue the service and keep the same funds if you wish.

The tax deduction is applied in the year you pay it, not the year it was due.

At Vanguard you don't have to log in to see the rates: https://personal.vanguard.com/us/FixedIncomeHome

When we were in that situation, I asked the loan officer at a bank about a bridge loan. He suggested taking out a mortgage on either the old home or the new one. We paid a little higher rate for a no-fee mortgage on the new home. When the old home sold, we paid it off. Since it was for a short time, and was a no-fee loan, it was not too expensive.

moglehead wrote: ↑Thu Feb 23, 2023 6:45 pm This is more than likely a pressure regulator problem with your supply line coming into the house. I had the same issue several years ago. The old regulator failed and the house was getting street pressure, causing the water heater pressure relief to burp.

This was the cause when we had that problem.

If you would have any interest in Case Western Reserve University, I can answer questions about the area.

scorcher31 wrote: ↑Sun Feb 19, 2023 10:52 pm There are also obviously fees on the vanguard funds.

The yields quoted for Vanguard MM funds include the expense ratio. Those are net yields.

There are other rules for meeting "safe harbor" requirements. Owing less than $1000 is one. Having paid as much as your previous year's taxes (or 110% for higher incomes) is another.

Good job RM! Here is the publication in page form: https://www.irs.gov/pub/irs-pdf/p505.pdf
The quote section is on page 26.

tc101 wrote: ↑Sat Feb 18, 2023 8:12 pm Thanks everyone for the explanation.I think I understand it now.

The accountant wouldn't know unless you tell them. Same for the IRS. You tell them when you file the return.

That surprises me. Most things like that are reported to the IRS by the financial institution.

The IRA custodian cannot keep track of which donations are to eligible charities nor can they know whether or not you have received anything in return for the "donation". It is up to the taxpayer to make sure the charities are eligible and to get a letter of acknowledgment from the charities. Therefore, QCD distributions are coded as ordinary distributions on the 1099R. It is an unusual set of regulations that often involves mailing paper checks.

Thanks so much for your prompt reply. Yes, I am very confused on this issue and not wording my question clearly. So I'll try one more time; I am under the assumption that is it common practice with many of the Bogleheads and general public to only make one voluntary witholding payment per tax year. (Those that only have SS and RMDS) I have a friend who is an accountant (not a specialized tax accountant) who insists that I am exposing myself to being penalized by the IRS. Is it legal or not and is there an IRS ruling that I can cite? Well, the instructions for making estimated payments state that such payments are not necessary if you "elect voluntary withholding". If you want to see that for yourself, look for the instructions fo...

What about the possibility of high medical expenses later in life, such as nursing home, in-home assistance, etc? Those expenses can be very high and even insurance has limitations.

Perhaps this will answer your question. The instructions for making estimated payments say: Use Form 1040-ES to figure and pay your estimated tax. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, alimony, etc.). In addition, if you do not elect voluntary withholding, you should make estimated tax payments on other taxable income, such as unemployment compensation and the taxable part of your social security benefits. I think OP is asking almost the reverse: if one *does* want to use withholding and *not* use the estimated tax payments. RM Yes, I know. The above quote says that you should use estimated tax "if you do not ele...