Search found 1494 matches

by Katietsu
Sat Aug 18, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Online Banking - School Me
Replies: 17
Views: 1367

Re: Online Banking - School Me

Consider checking out a couple of regional banks in your area. They sometimes have good deals even though their standard rate is poor. For instance, one bank here offers a 1.6% money market if you have a checking account and keep a $25000 minimum balance. So, the convenience is worth a .2% lower ret...
by Katietsu
Sat Aug 18, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: funds from inheritance [how is it taxed?]
Replies: 8
Views: 508

Re: funds from inheritance [how is it taxed?]

Whether there are capital gains taxes and whether or not the taxes are paid by the estate or reported by each individual is affected by the specifics of the situation. But, as stated previously, if the property is sold within a reasonable amount of time, there would be no capital gain ordinarily. No...
by Katietsu
Sat Aug 18, 2018 9:16 am
Forum: Investing - Theory, News & General
Topic: For those of you in the Accumulation Phase - How often do you check?
Replies: 76
Views: 8320

Re: For those of you in the Accumulation Phase - How often do you check?

Probably every other day, it's just too easy. Everyone month I tally in an Excel spreadsheet to see if I'm outside of rebalancing bands in order to direct next month's contributions (my form of active management!) Everyone here is talking about a spreadsheet this and a spreadsheet that. Why can't a...
by Katietsu
Fri Aug 17, 2018 10:32 pm
Forum: Investing - Theory, News & General
Topic: For those of you in the Accumulation Phase - How often do you check?
Replies: 76
Views: 8320

Re: For those of you in the Accumulation Phase - How often do you check?

Probably every other day, it's just too easy. Everyone month I tally in an Excel spreadsheet to see if I'm outside of rebalancing bands in order to direct next month's contributions (my form of active management!) Everyone here is talking about a spreadsheet this and a spreadsheet that. Why can't a...
by Katietsu
Fri Aug 17, 2018 8:04 pm
Forum: Investing - Help with Personal Investments
Topic: Automatic Investment in a Taxable Account
Replies: 20
Views: 1647

Re: Automatic Investment in a Taxable Account

I’m not aware of any accumulating (no dividend) investment methods in the US. I am confused by this statement. Suppose if you buy a stock, but never sell it, I assume the stock will have unrealized gain and loss, but incur minimal dividend or interest. Is my understanding correct? I am going to add...
by Katietsu
Thu Aug 16, 2018 10:41 pm
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 74
Views: 5414

Re: Elderly Relative Short on Money

It looks like she might even have no federal liability at all. Is this a high cost of living area because that seems like high rent for someone in her situation? If her health is good, you might want to look into an immediate annuity for part of her funds. You will also need to plan for the likeliho...
by Katietsu
Thu Aug 16, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Wife turning 65. Need to enroll in medicare?
Replies: 6
Views: 757

Re: Wife turning 65. Need to enroll in medicare?

I am hoping someone more knowledgeable comes along. However, I believe that since your employer plan involves less than 20 employees, the group plan would be secondary to Medicare. Consequently, you would need to enroll in Part A and Part B (maybe Part D too) within about 7 months of turning 65 or f...
by Katietsu
Thu Aug 16, 2018 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: Question on Source of Roth Funding
Replies: 12
Views: 600

Re: Question on Source of Roth Funding

Sorry for the confusion, the $200k is from my mother’s trust , which per my understanding won’t count as income against my taxes . I thought a “back door” was when you first would use the $200k cash to open a tIRA and then immediately convert to a Roth. For the other option I would withdraw money f...
by Katietsu
Thu Aug 16, 2018 10:52 am
Forum: Personal Consumer Issues
Topic: Solutions for Printing from a Chromebook
Replies: 16
Views: 1209

Re: Solutions for Printing from a Chromebook

Personally, I just bought a new printer when I was in this situation. So many printers start out as loss leaders and become really cheap when you add a sale. I took the per page cost into consideration but was not too concerned with this given the limited number of pages I actually print per month. ...
by Katietsu
Thu Aug 16, 2018 10:36 am
Forum: Investing - Help with Personal Investments
Topic: High tax bracket - Go 100% Roth in tax advantaged?
Replies: 45
Views: 3285

Re: High tax bracket - Go 100% Roth in tax advantaged?

Often when I read BH posts from “younger” people, my middle aged mind brings up the old adage..”Man plans, and God laughs.” Personally, I would stay with traditional for the 403b for now. RMD’s and pensions are far enough away to have a significant chance of change. Also, I would be sure I understoo...
by Katietsu
Mon Aug 13, 2018 3:47 am
Forum: Personal Consumer Issues
Topic: Rental House Issue
Replies: 21
Views: 2409

Re: Rental House Issue

In my experience, you are required by law to limit your losses. So, you must use due diligence to get a new tenant in as soon as possible. You can not just let the place sit empty by choice until the end of the lease and have the “old” tenants pay the rent. The only way you could pursue the current ...
by Katietsu
Wed Aug 08, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to Respond to a "Proposed Amount Due" Notice From IRS
Replies: 15
Views: 1850

Re: How to Respond to a "Proposed Amount Due" Notice From IRS

The plan described in the original post is perfectly fine. I am not sure why you think it is not possible. You can say you agree with one proposed change but disagree with the second proposed change. And you can send a payment for the change you agree with. Being questioned about a 529 withdrawal is...
by Katietsu
Wed Aug 08, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Cash Gift to Sibling - Trust or...?
Replies: 7
Views: 916

Re: Cash Gift to Sibling - Trust or...?

Have you considered the tax implications of your plan? If this is done “off the books”, you could end up with an unnecessary enormous tax income tax bill down the line.

Please get good advice before proceeding.
by Katietsu
Tue Aug 07, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: Moving soon; whom to hire to help me move?
Replies: 27
Views: 2252

Re: Moving soon; whom to hire to help me move?

If the difference is really only going to be $700 vs $1000, I would be inclined to go with the full service company. I will say that there is no license needed to operate a moving company within my state. I would guess that hiring a full service moving company within the state would not alone guaran...
by Katietsu
Mon Aug 06, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Help! Death of Grandfather - creating to do list for Grandmther
Replies: 23
Views: 1709

Re: Help! Death of Grandfather - creating to do list for Grandmther

Thanks for the info! I did do some digging regarding the car insurance, and I thought I'd write here in case it affects anyone else. If the deceased is the only policyholder of the car insurance (which is the case here with my grandparents), then no one will be insured in that car until the policyh...
by Katietsu
Mon Aug 06, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Help! Death of Grandfather - creating to do list for Grandmther
Replies: 23
Views: 1709

Re: Help! Death of Grandfather - creating to do list for Grandmther

A couple posters have advised to get extra death certificates. I will just throw out a number. We requested 15 when my mother died in 2009. I have 4 originals left. I think we only had one or two originals returned to us. I found out that I needed very few. Local banks looked at original, made copy...
by Katietsu
Sun Aug 05, 2018 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Do We need health insurance??
Replies: 137
Views: 9258

Re: Do We need health insurance??

Also, here's one other option to consider - with that level of net worth you can easily get Canadian citizenship. That way, you shield yourself against any catastrophic events without having to pay the premiums. I will caveat Canadian health care system is really bad and a huge downgrade for those ...
by Katietsu
Sat Aug 04, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: retiring from military to federal job
Replies: 15
Views: 1552

Re: retiring from military to federal job

A minor consideration is that converting the military pension to a federal pension may result in a loss of certain breaks given for military retirement. The one that comes to mind is state income tax. Of the state’s with income tax, over 80% do not tax either any or part of the military retirement i...
by Katietsu
Thu Aug 02, 2018 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6154

Re: Nervous about not using a personal wealth manager. How do I do this myself?

tfb wrote:
Thu Aug 02, 2018 12:54 pm
Katietsu wrote:
Thu Aug 02, 2018 12:42 pm
I wonder if tfb noticed the VUL policy when he said there were no red flags.
Where? I didn't see anything posted by the OP. That said, if the plan isn't good, the OP should get a good plan and then follow it him/herself.
Sorry, I read two very similar threads back to back. My error.
by Katietsu
Thu Aug 02, 2018 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 6752

Re: DW job in dangerous area

To the OP: I would encourage your wife to explore the job and talk to her potential colleagues. I agree with the original thought process of the income from the job not being worth fearing for your life every day. However, like some of the others here (at least before he gun debate took over), I hav...
by Katietsu
Thu Aug 02, 2018 12:42 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6154

Re: Nervous about not using a personal wealth manager. How do I do this myself?

I would at least read The White Coat Investor: A Doctor's Guide To Personal Finance And Investing By James Dahle. It is a short read. And I am pretty sure it will save you more than the $20 purchase price by many times. It might not give you everything you need to do it on your own. But it should st...
by Katietsu
Wed Aug 01, 2018 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: High expense ratio worth it/Portfolio review
Replies: 48
Views: 3436

Re: High expense ratio worth it/Portfolio review

Having a DFA Advisor is not a bad thing. Having your advisor is a disaster. One more suggestion. Are you being paid as a contractor? No employees? If so, then go to Fidelity or Etrade and open a individual 401k instead of the SEP IRA. Roll over the money from the SEP and your traditional IRA into th...
by Katietsu
Wed Aug 01, 2018 4:29 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6154

Re: Nervous about not using a personal wealth manager. How do I do this myself?

My opinion is that you should not have a taxable retirement account while you have student loans. I would restrict your retirement savings at this point to only tax advantaged accounts, ie 401k, 403b, and IRA’s. The rest should be used to reduce your student loan balance. Maybe I am cynical, but I c...
by Katietsu
Tue Jul 31, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to prepare for "the talk"
Replies: 64
Views: 4932

Re: How to prepare for "the talk"

I'm in the same boat and I don't have much to contribute other than to say that I can sympathize. To those saying it's none of our business. Does it become my business when I start subsidizing their retirement? My parents will be forced to live with my sibling for their remaining years while I get ...
by Katietsu
Mon Jul 30, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5782

Re: Consistently over budget on food - what are you guys eating?

Make sure you do not create a relationship problem as you try to solve a budget problem. You are saving $6000 a month. IMO, if your wife values spending $450 a month on food instead of $350, you should respect that even if you would not make the same choice for yourself.
by Katietsu
Mon Jul 30, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5782

Re: Consistently over budget on food - what are you guys eating?

Does that include dining out or just groceries? How much are you actually spending? If you are $800 that's one thing, $1200 is a different scenario and would have other approaches for solution. Most likely that you are either including restaurant or non-food spend or you are eating lots of fresh fr...
by Katietsu
Sun Jul 29, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 4910

Re: Air Conditioning? [How to finance?]

It seems unlikely that you would get the AC installed before the temperatures started to drop a bit. I would be making plans to have it in by next summer.
by Katietsu
Sat Jul 28, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA to Roth IRA - Tax Planning Question
Replies: 12
Views: 856

Re: Traditional IRA to Roth IRA - Tax Planning Question

I agree that I am not sure there will be much of a difference regardless of which way you do it. You might be trading off some 12% for 10% tax bracket your way, but you are also hoping that the account value will be going up. Additionally, at age 23 and starting first full time job, your plans have ...
by Katietsu
Sat Jul 28, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Updating wills - when do they need to be more complicated?
Replies: 13
Views: 1193

Re: Updating wills - when do they need to be more complicated?

If the kids are young enough to need guardians, then you should be creating a trust. I recognize your concern about the kids getting access to significant funds at a young age, ie 18 or 21. But, possibly the bigger issue is what happens before that age. If you do not set up parameters for the manage...
by Katietsu
Thu Jul 26, 2018 3:37 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 9270

Re: Toughest Purchase of my Life. Engagement Ring time

For the record, I did intend on 5k being a reasonable amount on my situation. I'm ok with parting with that much money for this occasion. It's just that for $2800 more dollars, I can get exactly what I want (cut, carat, color, and clarity)... The only C is Cost. I'm starting to feel that the actual...
by Katietsu
Thu Jul 26, 2018 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Ex-Spouse and Will Executor Hasn't Paid Bequest
Replies: 33
Views: 4207

Re: Ex-Spouse and Will Executor Hasn't Paid Bequest

I could drop by my county courthouse and they would assist in looking up all the documents filed relating to the deceased’s estate and trust. Just another avenue to consider.
by Katietsu
Wed Jul 25, 2018 1:31 pm
Forum: Personal Consumer Issues
Topic: How to negotiate bills from hospital?
Replies: 22
Views: 1800

Re: How to negotiate bills from hospital?

I have paid bills from two hospitals in the last year. One gives 10% and the other a 20% off if you call and ask for a discount in return for paying in full on the phone with a ACH pull or a credit card. As to what you should have done.. if you need an ER, then you go to the ER. In return for their ...
by Katietsu
Tue Jul 24, 2018 6:13 pm
Forum: Personal Consumer Issues
Topic: Craigslist payment by PayPal - safe or scam?
Replies: 51
Views: 2972

Re: Craigslist payment by PayPal - safe or scam?

Just as a counterpoint, I've bought quite a few small items after conducting nationwide searches via a CL aggregator (seachtempest.com in my case). After I make contact with the seller and negotiate a price I break the news that I'm actually from out of town and that I'll need the item shipped to m...
by Katietsu
Tue Jul 24, 2018 4:29 pm
Forum: Personal Consumer Issues
Topic: Cablevisions Bill
Replies: 31
Views: 1337

Re: Cablevisions Bill

ok, so let's say I do Optimum internet which is probably like $50 plus fees, then I have to pay either $35-$50 for Direct TV now, then I am assuming I need something to get the Direct TV onto my TV which is something like a Roku or Amazon Fire Stick, which cost money, but only one time. I Tried usi...
by Katietsu
Mon Jul 23, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Car usage as independent contractor - reimbursement v. tax deductions
Replies: 16
Views: 1521

Re: Car usage as independent contractor - reimbursement v. tax deductions

I would keep the 14 cents a mile. And I would take the deduction on the Sch C for what will be a 40.5 cent,mile net.
by Katietsu
Mon Jul 23, 2018 9:26 am
Forum: Investing - Help with Personal Investments
Topic: Thank you for saving me from Fidelity $$$ advice! Now seeking help.
Replies: 15
Views: 2822

Re: Thank you for saving me from Fidelity $$$ advice! Now seeking help.

I am a bit worried that you are drawn to the high returns of the last year in your active funds. Remember that the “Bigger they are, the harder they fall.” Your allocation is making me fearful, so maybe you should be concerned. Follow the link to read about sequence of return risk. Are you ready to ...
by Katietsu
Mon Jul 23, 2018 7:36 am
Forum: Investing - Theory, News & General
Topic: Fidelity cash position
Replies: 55
Views: 6822

Re: Fidelity cash position

While I am not familiar with Fidelity's investment offerings, Vanguard's Prime Money Market Fund is yielding 2.04% presently. I don't see how the Prime MM fund is yielding over 2%.I always look at year to date and its under 1% even though only 1/2 year has gone by.Perhaps I am missing something. Wo...
by Katietsu
Sun Jul 22, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Location Independent (Nomad) Will
Replies: 20
Views: 1505

Re: Location Independent (Nomad) Living Will

These are very good points. I can see how having an advance medical directive might be very difficult if not impossible considering the differences in laws in each of those countries. With that on mind I would like to recast the question into how to best do asset distribution. Even when I don't pla...
by Katietsu
Sun Jul 22, 2018 7:21 pm
Forum: Personal Consumer Issues
Topic: I think it's time to cut the landline cord, how to do it?
Replies: 25
Views: 2885

Re: I think it's time to cut the landline cord, how to do it?

Are you using the WiFi hotspot off of your phone? I would think you would want to be looking at a freestanding hot spot to replace the DSL. Start by determining how much data you are currently using via DSL. You could then get a cheap tablet or cell phone without any cellular service and use google ...
by Katietsu
Sun Jul 22, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone Else Here Trying to Max Out 401k for the 1st Time in 2018?
Replies: 35
Views: 2634

Re: Anyone Else Here Trying to Max Out 401k for the 1st Time in 2018?

Do everything you can to max out your 401k at your old employer before leaving. I mean like 80, 90% of your paycheck, then after you leave immediately transfer those funds into a self controlled IRA. Last time I left a job I presented them with the transfer papers on my final day. You don't want to...
by Katietsu
Sat Jul 21, 2018 10:54 pm
Forum: Personal Consumer Issues
Topic: Suggestions About Simulating Homemade Chicken Stock
Replies: 28
Views: 1622

Re: Suggestions About Simulating Homemade Chicken Stock

Are the nights all hot as well? If there is a cool night, you could throw a chicken and vegetables into a crock pot overnight.
by Katietsu
Fri Jul 20, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: BB&T banking
Replies: 6
Views: 739

Re: BB&T banking

What kind of account? What kind of transfer of funds? This does not seem typical to me.

Are you getting charged for every transaction or are you exceeding the allowable number of transactions? Have you asked the bank customer service?
by Katietsu
Fri Jul 20, 2018 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on Financial Plan: PGY4 Orthopaedic / PGY4 ENT Residents
Replies: 11
Views: 738

Re: Advice on Financial Plan: PGY4 Orthopaedic / PGY4 ENT Residents

I would consider tweaking your priorities. 1. Get the books and the forms and do your 2017 taxes by hand. This will give you a feel for the tax laws while your financial life is simpler. You can then build on that with time. I see no way that your income is being taxed in the 24% bracket. In fact, d...
by Katietsu
Fri Jul 20, 2018 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 13306

Re: Should I Dump a Pile of Money on Young Son?

I would say the money might change him for the better. Someone choosing to drive a 22 year old car with no A/C in Texas might need the safety net of a extra cash in order to enjoy life. Many on this board, myself included, have made frugal decisions that, frankly, should better be described as depri...
by Katietsu
Wed Jul 18, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Semi-Retire by 40-45, possible/realistic?
Replies: 21
Views: 3642

Re: Semi-Retire by 40-45, possible/realistic?

You hope to have 1 million dollars and to withdraw 2% to use for expenses. That seems feasible. But here is where I am confused. Where are you getting the additional savings you will eventually need to fully retire? Do you expect the remaining assets from the $1 million dollars to grow enough to cov...
by Katietsu
Tue Jul 17, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Bored
Replies: 25
Views: 3550

Re: Bored

Did the OP say he had 3 young children and a wife who was not currently employed? If so, then you need to address life insurance. Possibly not enough now. Definitely not enough if you lose your job. Even if the workplace insurance is guaranteed convertible to an individual policy, it will probably b...
by Katietsu
Sun Jul 15, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7961

Re: Who are heirs? No will.

It's been a while since I've posted so I'd like to ask the question(s) in a differently way. Background: The deceased individual lived in Indiana had no will. His spouse, child, parents, grandparents, and siblings all predeceased him. The only related individuals surviving the decendent are his fir...
by Katietsu
Thu Jul 12, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stock to College Student - 2018 version
Replies: 12
Views: 883

Re: Gifting Appreciated Stock to College Student - 2018 version

So, this is a little tricky because some of it is tied in to the new tax laws which I am only glancingly acquainted with. By giving him up as a dependent, you would lose the $500 credit for dependents who are not eligible for the child tax credit. On the other hand, the son could take advantage of t...
by Katietsu
Thu Jul 12, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Keeping a checkbook register
Replies: 122
Views: 9365

Re: Keeping a checkbook

I am shocked at how many people have eliminated checks from their lives and yet continue to write a check for property taxes. My county has a fee to pay online :annoyed but no fee to pay by check. I just use my bank's billpay, who fires off a check twice a year on the date I specify. My tax parcel ...
by Katietsu
Wed Jul 11, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Credit score after becoming debt free?
Replies: 48
Views: 3803

Re: Credit score after becoming debt free?

We had a car loan for a few months to take advantage of a financing offer. Fico score supplied complimentary by a credit card company went up 30 points. Dropped back down after paying off the car. Sort of nuts but it is the way the model works. However, with a long history and no late pays, the lowe...