Search found 3814 matches

by Katietsu
Mon Sep 21, 2020 5:19 am
Forum: Personal Finance (Not Investing)
Topic: The conundrum of Pennsylvania 401K contributors who are in no way "married" to the state for retirement. What to do?
Replies: 14
Views: 1384

Re: The conundrum of Pennsylvania 401K contributors who are in no way "married" to the state for retirement. What to do?

But as I mentioned in some earlier posting, staying in PA has a different potential problem, depending on the size of your estate: other than your spouse, your direct descendants will pay a 4.5% inheritance tax (on the entire amount). I don't think this applies if they are the beneficiaries of your...
by Katietsu
Mon Sep 21, 2020 5:06 am
Forum: Personal Finance (Not Investing)
Topic: Paying BofA credit card bill online?
Replies: 8
Views: 288

Re: Paying BofA credit card bill online?

I have not used the feature you described. I know you can call by phone and pay with an ACH as you wish. It looks you can do the same online. See https://www.bankofamerica.com/banking-i ... -payments/
by Katietsu
Sun Sep 20, 2020 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: The WR in practice [Withdrawal Rate]
Replies: 62
Views: 3285

Re: The WR in practice [Withdrawal Rate]

I'm planning to do freelance work along the way (not fully retired). Sorry I did not mention this, as it's a material fact. As of now the plan is to try to earn at least $1,000-$2,000 a month as a freelancer. But business has been really slow the past few years for me. I just want to know FOR SURE ...
by Katietsu
Sun Sep 20, 2020 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Insurance Medical Report (MIB): Should I Apply for a New Policy and Risk Blacklisting?
Replies: 12
Views: 765

Re: Insurance Medical Report (MBB): Should I Apply for a New Policy and Risk Blacklisting?

Every place I worked before retirement supplied disability insurance... Of course, that's no help if you wind up between jobs. If you get health insurance now, and the pre-existing condition protection goes away, I wonder if they could cancel your insurance or would have to keep it in force ad infi...
by Katietsu
Sun Sep 20, 2020 11:43 am
Forum: Personal Investments
Topic: Maximum age to open traditional IRA?
Replies: 15
Views: 1026

Re: Maximum age to open traditional IRA?

If your income is to high to contribute directly to a Roth, you may want to consider a Backdoor Roth contribution each year you have work income. Your income is too high for a deduction! Yes. Please do this. Since you have no traditional IRA balance now, the back door Roth will work wonderfully for...
by Katietsu
Sun Sep 20, 2020 9:50 am
Forum: Non-US Investing
Topic: $800K house on income of $160K with 50% down and a fixed 1.5.% 30 year mortgage
Replies: 8
Views: 844

Re: $800K house on income of $160K with 50% down and a fixed 1.5.% 30 year mortgage

Since you are in Japan, I do not think most of us will be familiar with costs of home ownership. Multiples of income for home ownership is just an easy guideline. It sounds like you have gone beyond that to consider actual cash flow and post purchase savings rate. If you think these are fine, then t...
by Katietsu
Sat Sep 19, 2020 6:10 pm
Forum: Personal Consumer Issues
Topic: Which snow tires for serious snow commuting?
Replies: 29
Views: 1481

Re: Which snow tires for serious snow commuting?

Is she going to store them over the summer? If she doesnt have the place to store or want to mess with that a good all weather tire like the Firestone Weathergrip could be an option for all year long. No such thing as all weather tires. Tires are either pliable above 45 degrees or below. “All seaso...
by Katietsu
Fri Sep 18, 2020 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 33
Views: 2595

Re: Estate considerations with sibling living in home owned by parent

To answer a few questions raised (and some that weren't): The sibling and their family have been living in this house (purchased by parent) for many years. Their share of the estate would cover the full value of this house and much more. All the other siblings would be fine with working something o...
by Katietsu
Fri Sep 18, 2020 9:31 am
Forum: Personal Investments
Topic: Over-contributed to ROth IRA
Replies: 9
Views: 814

Re: Over-contributed to ROth IRA

All of the most popular software programs should be able to handle the solo 401k. TurboTax is the most expensive but it really is the easiest to use and the most problem free, in my opinion.
by Katietsu
Thu Sep 17, 2020 12:02 pm
Forum: Personal Consumer Issues
Topic: Grocery store didn't tell me Shingrix was $160
Replies: 197
Views: 12740

Re: Grocery store didn't tell me Shingrix was $160

Pharmacist here. Its probably that when you get the shot at the VA its billed differently than getting it at a pharmacy. I think most insurances don't cover it till youre 60. I'm years out of retail but that could have changed. Unfortunately you got the shot its not covered you have to pay. You sho...
by Katietsu
Thu Sep 17, 2020 10:45 am
Forum: Personal Consumer Issues
Topic: Grocery store didn't tell me Shingrix was $160
Replies: 197
Views: 12740

Re: Grocery store didn't tell me Shingrix was $160

It is surprising to me that the pharmacy did not run the claim thru OP’s insurance first. My pharmacy always does that and lets me know what my copay is, if any. I am only speculating here. I think what went wrong is that the pharmacy was trying to do a lower risk Covid event. The vaccination was t...
by Katietsu
Wed Sep 16, 2020 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 307
Views: 18727

Re: Preparing for retirement in mid 30s

I would look at states that are likely to have ACA and expanded medicaid type options even if the federal government screws it up. Several have already paused legislation to create a seamless transition.
by Katietsu
Wed Sep 16, 2020 1:45 pm
Forum: Personal Consumer Issues
Topic: Grocery store didn't tell me Shingrix was $160
Replies: 197
Views: 12740

Re: Grocery store didn't tell me Shingrix was $160

I am confused because you do not indicate that they gave you incorrect information. Did you expect it to be a certain amount? Did you consider checking with your insurance company to find out how much it was going to be? I am sure they did not advertise “free”. I know healthcare can have surprises i...
by Katietsu
Wed Sep 16, 2020 8:32 am
Forum: Personal Consumer Issues
Topic: Tiffany Quality
Replies: 35
Views: 2620

Re: Tiffany Quality

Mr. Rumples wrote: Wed Sep 16, 2020 6:16 ambut the Le Creuset, might work.
I like this idea. Seems to have the “feel” you are after but is an item (dutch oven) that I have actually seen on a thirty somethings registry recently.
by Katietsu
Tue Sep 15, 2020 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?
Replies: 11
Views: 544

Re: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?

Stop worrying about this. The IRS has your form. They do not check it for accuracy. If they were to reject it for lack of a signature, it would be mailed back to you. Not filing a Form 8606 does not make your contribution illegal. In theory, there can be a penalty for not filing form 8606 but I have...
by Katietsu
Tue Sep 15, 2020 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Payable on Death (POD/TOD) for short term accounts
Replies: 7
Views: 640

Re: Payable on Death (POD/TOD) for short term accounts

It depends on your estate plan. Would those beneficiaries be any different than what your will states? Are their other POD funds that the beneficiary can use while awaiting probate, if needed? Yes, the beneficiaries would be the same as the will. Yes, either spouse can ride through a multi-year pro...
by Katietsu
Tue Sep 15, 2020 10:12 pm
Forum: Investing - Theory, News & General
Topic: Questions to ask a prospective financial advisor
Replies: 112
Views: 4581

Re: Questions to ask a prospective financial advisor

The no fee model if your assets are at least X dollars is popular in my hometown. The advisors charge no AUM. They use American funds with the sales loads waived due to the X dollars exceeding some number. (This used to be 1 million dollars. Don’t know if that has changed or not.) The couple of port...
by Katietsu
Tue Sep 15, 2020 9:45 pm
Forum: Personal Consumer Issues
Topic: Caretaker for parents?
Replies: 45
Views: 2647

Re: Caretaker for parents?

If the OP can help without risking their own financial well being, I would consider doing so in the short run. I am hoping that right now Dad’s condition is such that it can be managed with the help of the OP for the next several months. The coronavirus situation has definitely complicated these sit...
by Katietsu
Tue Sep 15, 2020 12:01 pm
Forum: Personal Investments
Topic: Positioning for retirement at 55
Replies: 15
Views: 2494

Re: Positioning for retirement at 55

Thanks for the replies Some good feedback. Some notes on my end: -At 55 my youngest will be ~20 years old. I understand not risking retirement for 529s, and don't believe I am. I may risk retiring at 55 but I consider that a bit of a luxury. I wouldn't retire unless we were able to comfortably help...
by Katietsu
Tue Sep 15, 2020 11:45 am
Forum: Personal Investments
Topic: Target allocation review
Replies: 11
Views: 726

Re: Target allocation review

I am not going to get into a full analysis of your plan right now. But a few things struck me. -What are your plans for the non deductible IRA? Can you roll the current traditional IRA into your 401k to make way for a Roth conversion? -Do you plan on having 12 funds in your non 401k accounts or did ...
by Katietsu
Mon Sep 14, 2020 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Can I/Should I claim my in-laws as dependents?
Replies: 6
Views: 1182

Re: Can I/Should I claim my in-laws as dependents?

It is my understanding that no one needs to return the Economic Impact Payment (except those sent to deceased people.). Agreed that no return is needed if 2020 income makes one ineligible but the EIP based on 2019 (or 2018) income was properly received. Not clear (to me at least) what should happen...
by Katietsu
Mon Sep 14, 2020 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: How to find an OLD W-2 info?
Replies: 6
Views: 396

Re: How to find an OLD W-2 info?

W-2 transcript from IRS will not go back that far. I second starting with the City’s benefits office. If you accumulated years toward a retirement benefit, they, hopefully, have a record of it.
by Katietsu
Sun Sep 13, 2020 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I/Should I claim my in-laws as dependents?
Replies: 6
Views: 1182

Re: Can I/Should I claim my in-laws as dependents?

Not counting SS, they have less $4000 annual earned income. We pay over 50% of their support. The $4000 (or $4200, etc., depending on the year) is for gross income (not including exempt SS income, but including dividends, interest, etc.) not just earned income. Have you confirmed the "over 50% of t...
by Katietsu
Sun Sep 13, 2020 10:13 pm
Forum: Personal Investments
Topic: Backdoor Roth IRA Contribution - first time - Plan-of-Action
Replies: 14
Views: 1152

Re: Backdoor Roth IRA Contribution - first time - Plan-of-Action

Thanks or replies everyone. Seems like if I am earning, and we are filing MFJ, than even when my wife stops working, we can contribute $6K to my wife's TIRA account ( to be transferred to RIRA ). BTW, I saw celia's tag line: "A dollar in Roth is worth more than a dollar in a taxable account. A doll...
by Katietsu
Sun Sep 13, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)
Replies: 19
Views: 1360

Re: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)

Ok. So, there are more details here. Is this all correct?: -You need the money immediately and can not wait to have it spread over more than one year. -The in laws expect their income to be lower than normal in 2020. -Grandma died 2020. Therefore, there are no RMDs. Instead the money must be removed...
by Katietsu
Sun Sep 13, 2020 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)
Replies: 19
Views: 1360

Re: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)

There are a lot of unknowns. When did Grandma pass away? The withdrawal rules for 2019 and 2020 are different. Will Parents income be lower in the future? For instance, if 2023 income will be half after a retirement then a different answer might be best vs decades of $500 k income ahead. For instanc...
by Katietsu
Sun Sep 13, 2020 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?
Replies: 71
Views: 5820

Re: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?

Have you sought help from a grief counselor or other mental health professional. You can not expect your lawyer to also act as a therapist. I am concerned by a couple of your comments that your emotions may get in the middle of the legal wrangling, understandably so. It is also possible that even wi...
by Katietsu
Sun Sep 13, 2020 3:58 pm
Forum: Personal Consumer Issues
Topic: [Question regarding password security]
Replies: 101
Views: 3192

Re: Security question on one's passwords

I separate how I handle passwords based on risk to me. I mean how much damage can someone do if they get my Netflix password? Is there some risk here that I am not considering? For that matter, I include credit card companies in the “not overly concerned” category. Don’t get me wrong, I still use a...
by Katietsu
Sun Sep 13, 2020 3:44 pm
Forum: Personal Consumer Issues
Topic: Best Streaming Service
Replies: 24
Views: 1971

Re: Best Streaming Service

If you want more targeted useful advice, we need to know what you watch. The biggest question is whether or not you want live TV. Live TV is usually more expensive. Depending on what channels you want and what options for cable that you have, streaming with liveTV and a wide selection of channels ca...
by Katietsu
Sun Sep 13, 2020 12:17 pm
Forum: Personal Consumer Issues
Topic: [Question regarding password security]
Replies: 101
Views: 3192

Re: Security question on one's passwords

I separate how I handle passwords based on risk to me. I mean how much damage can someone do if they get my Netflix password? Is there some risk here that I am not considering? For that matter, I include credit card companies in the “not overly concerned” category. Don’t get me wrong, I still use a ...
by Katietsu
Sun Sep 13, 2020 11:06 am
Forum: Personal Investments
Topic: Backdoor Roth IRA Conversion: Yearly Execution Strategy in Practice
Replies: 18
Views: 711

Re: Backdoor Roth IRA Conversion: Yearly Execution Strategy in Practice

Do I understand correctly that you have already completed your 2020 contribution and you will have the funds to make your 2021 contribution available in January? Then your $1000 a month must go to taxable. So just invest in the same way in taxable as you plan to do so in the Roth. I am not understan...
by Katietsu
Sun Sep 13, 2020 12:05 am
Forum: Personal Investments
Topic: Ally Bank Not Reliable
Replies: 50
Views: 4858

Re: Ally Bank Not Reliable

I do not put Ally on a pedestal. But I have had bank accounts with 8 banks and a few brokerages during the last decade. Ally has been the best for how easy it is to accomplish tasks. And, the times I have needed customer service, they have been very helpful with little wait time. All but one time, a...
by Katietsu
Sat Sep 12, 2020 9:37 pm
Forum: Personal Consumer Issues
Topic: bare-bones phone and cheapest prepaid plan for a kid
Replies: 37
Views: 1761

Re: bare-bones phone and cheapest prepaid plan for a kid

here's Clark Howard's 2020 list of cheapest cel phone plans: https://clark.com/cell-phones/best-cell-phone-plans-deals/ wow so Xfinity Mobile is already the cheapest option? Is there no "talk and text only" plan anymore? I don't even need a single GB of LTE data. There will likely be months where h...
by Katietsu
Sat Sep 12, 2020 6:49 pm
Forum: Personal Investments
Topic: How can I get Pre IPO stocks
Replies: 20
Views: 1820

Re: How can I get Pre IPO stocks

OP, I am wondering where you got this idea from? You can see from answers from people with great knowledge in this area, that you have not received any encouragement for your idea. I hope that the source of the content that led you to ask this question has not led you to other questionable investmen...
by Katietsu
Sat Sep 12, 2020 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Huge mess - Interactive Brokers transfer
Replies: 42
Views: 3194

Re: Huge mess - Interactive Brokers transfer

Just thought I'd give an update. After a week (first online chatting, then emailing, then calling) I finally got an answer back from IB. They sent me a link to their website that says ACATS transfers have a 10 business day holding period for withdrawals. However, the policy has changed and now it i...
by Katietsu
Sat Sep 12, 2020 6:18 pm
Forum: Personal Investments
Topic: General Feedback - Just barely meeting all retirement accounts
Replies: 15
Views: 2361

Re: General Feedback - Just barely meeting all retirement accounts

Just wanted to correct my previous reply to say : If your child receives a full ride scholarship, you may withdraw an equal amount from the the 529 penalty free. So unless you truly think neither child will attend college, there is a low risk of being forced into a penalty on situation for a 529 wit...
by Katietsu
Fri Sep 11, 2020 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Huge mess - Interactive Brokers transfer
Replies: 42
Views: 3194

Re: Huge mess - Interactive Brokers transfer

Just thought I'd give an update. After a week (first online chatting, then emailing, then calling) I finally got an answer back from IB. They sent me a link to their website that says ACATS transfers have a 10 business day holding period for withdrawals. However, the policy has changed and now it i...
by Katietsu
Thu Sep 10, 2020 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: What does Medicare A do, if one is still working with health coverage?
Replies: 19
Views: 1055

Re: What does Medicare A do, if one is still working with health coverage?

Patients with medicare have protections that the rest of us do not have. I suspect, though do not know, that patients with medicare as secondary would still have the benefit of those extra protections against things like surprise billings and fast discharges.
by Katietsu
Thu Sep 10, 2020 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Suggesting BIL use Roth Contributions to pay off credit card
Replies: 17
Views: 1060

Re: Suggesting BIL use Roth Contributions to pay off credit card

Since he has already severed ties with the old employer, I would suggest starting the paperwork immediately for the 401k to IRA transfer. I am not sure this idea of letting him pay interest for learning purposes makes a lot of sense in this circumstance. This is not an irresponsible 22 year old who ...
by Katietsu
Thu Sep 10, 2020 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11485

Re: Should we buy a $3M+ house with parental help?

My concern would be more related to buying a house now that is not what you want or where you want it in 3 years. Even if you are committed to the Bay Area, that is a pretty large geographic area. It sounds like you are happy where you are now and you have an amazing deal on the rent. You admit that...
by Katietsu
Wed Sep 09, 2020 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Dog Bite Case (for real - and I own the dog)
Replies: 56
Views: 7493

Re: Dog Bite Case (for real - and I own the dog)

To summarize - the only reason I'd pay this claim directly is to avoid a premium bump of some unknown amount. They could bump the premium or they could also cancel the policy due to a vicious dog claim. Given the choices and mitigations you've already made I'd pay the $600 and hope it doesn't happe...
by Katietsu
Wed Sep 09, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Dog Bite Case (for real - and I own the dog)
Replies: 56
Views: 7493

Re: Dog Bite Case (for real - and I own the dog)

My vote is to handle through insurance. My concern is that otherwise you may miss something opening yourself up to significantly greater liability. My 2 cents. I love this response. I also agree to go this route. They can also play interference. My kid was bitten by a dog at lowes this summer. Very...
by Katietsu
Wed Sep 09, 2020 1:18 pm
Forum: Personal Consumer Issues
Topic: Trip to Key West
Replies: 25
Views: 2427

Re: Trip to Key West

Hello! This is my first post. Our cruise through the Panama Canal this November is cancelled.(sigh) So we decided to take the RV and do a road trip. Our plan is to go to Key West and stay at a campground. We are thinking about renting a car for our day trips. My question is how bad is parking in Ke...
by Katietsu
Wed Sep 09, 2020 12:21 am
Forum: Personal Investments
Topic: General Feedback - Just barely meeting all retirement accounts
Replies: 15
Views: 2361

Re: General Feedback - Just barely meeting all retirement accounts

A few responses to the OP’s responses: - The wash sale question with respect to the 401k is controversial. It would be reasonable to decide either way on it. However, a transaction in the Roth IRA can definitely trigger the wash sale rules in taxable account. - The idea of putting bonds preferential...
by Katietsu
Tue Sep 08, 2020 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8571

Re: House sale quandary - got offer from neighbor before agent listed house

I'm assuming the neighbor is making you an all-cash offer with a short inspection period and a quick close, in which case I would make a deal, but still let the realtor handle the mechanics. .... What mechanics do you think someone should be a real estate agent tens of thousands of dollars to execu...
by Katietsu
Tue Sep 08, 2020 7:13 pm
Forum: Investing - Theory, News & General
Topic: Jane Bryant Quinn, stock allocation before / after retirement
Replies: 40
Views: 6236

Re: Jane Bryant Quinn, stock allocation before / after retirement

Maybe true, unless you retired in 1973, early 2000, mid-2008, etc and were overexposed to equities. I certainly don't know all the intricacies here but it seems if you can swing going more conservative leading into retirement and the first few years of retirement you eliminate a risk that is maybe ...
by Katietsu
Tue Sep 08, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8571

Re: House sale quandary - got offer from neighbor before agent listed house

I'm assuming the neighbor is making you an all-cash offer with a short inspection period and a quick close, in which case I would make a deal, but still let the realtor handle the mechanics. There's a discount available, but you should not be the one subsidizing all of it. If the neighbor is not br...
by Katietsu
Tue Sep 08, 2020 2:53 pm
Forum: Personal Investments
Topic: Can't contact prior employer to rollover 401k
Replies: 21
Views: 2105

Re: Can't contact prior employer to rollover 401k

Have you tried just simply calling the primary phone number for the old company instead of an HR specific number?
by Katietsu
Tue Sep 08, 2020 2:30 pm
Forum: Personal Investments
Topic: Wash Sale Notification – Fidelity
Replies: 17
Views: 1825

Re: Wash Sale Notification – Fidelity

... A wash sale is when you sell a fund or stock in your taxable account "recognize a loss" and then buy the same exact fund/stock (within 30 days) in the same or another account. I think (and others can correct me if I am wrong here), if you didn't report the loss in your tax returns, you should b...
by Katietsu
Tue Sep 08, 2020 1:46 pm
Forum: Personal Investments
Topic: Tax benefits of real estate without the work?
Replies: 9
Views: 1207

Re: Tax benefits of real estate without the work?

You can also research crowdfunding and real estate. I do not think there is a generic answer to your question. I also would never get involved in any of the real estate options just because of the somewhat beneficial tax treatment. Learn exactly what those tax benefits really mean. Some people seem ...