Search found 603 matches

by FBN2014
Sat May 11, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 6099

Re: Continue working for benefit of adult children or retiring earlier?

Many of my friends, cousins, and neighbors are still to some extent financially dependent on their parents - including several who are married with kids living with their parents and not financially helping at all Anyone else beginning to think this whole thing may be going a tad too far? Not that ...
by FBN2014
Sat May 11, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 6099

Re: Continue working for benefit of adult children or retiring earlier?

I would leverage their inheritance by buying life insurance. How would the numbers look for life insurance taken at 58+? Here's a quote engine I found for various types of term and permanent insurance. https://donboozer.com/3-2/ I was asking what your numbers look like for leveraging the future inh...
by FBN2014
Sat May 11, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 6099

Re: Continue working for benefit of adult children or retiring earlier?

smitcat wrote:
Sat May 11, 2019 9:16 am
FBN2014 wrote:
Sat May 11, 2019 9:13 am
I would leverage their inheritance by buying life insurance.
How would the numbers look for life insurance taken at 58+?
Here's a quote engine I found for various types of term and permanent insurance. https://donboozer.com/3-2/
by FBN2014
Sat May 11, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 6099

Re: Continue working for benefit of adult children or retiring earlier?

I would leverage their inheritance by buying life insurance.
by FBN2014
Wed May 08, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity funds for super seniors
Replies: 11
Views: 1278

Re: Fidelity funds for super seniors

MrsBDG wrote:
Wed May 08, 2019 12:39 am
She'll need to avoid risking much of her principal, she is paying more for caregiver help the last few years and also has a 30 year old home where things seem to pop up every few years needing repairs- AC, water heater, roof, etc.
She is the perfect candidate for a reverse mortgage.
by FBN2014
Mon Apr 29, 2019 9:14 am
Forum: Investing - Theory, News & General
Topic: Retirement studies for different asset allocations
Replies: 8
Views: 1284

Retirement studies for different asset allocations

Are there any studies that show the value of a diversified index portfolio over time for someone entering retirement using a 4% withdrawal rate for various asset allocations of 40/60, 50/50. and 60/40?
by FBN2014
Sun Apr 28, 2019 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 87
Views: 4554

Re: Why I don't think I should get long term care insurance right now

Have you looked at hybrid LTCi policies with a death benefit? One America, Nationwide, and Lincoln Financial offer these type of policies.
by FBN2014
Sun Apr 28, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Advice
Replies: 10
Views: 1124

Re: Financial Advice

Rick Ferri and Allan Roth both offer advice on an hourly basis.
by FBN2014
Sat Apr 27, 2019 6:43 am
Forum: Personal Consumer Issues
Topic: Water heaters/ energy consumption, high electric bill
Replies: 34
Views: 1716

Re: Water heaters/ energy consumption, high electric bill

I would do the energy audit first. The utility company should be able to give you an estimate of your cost and savings for various fixes. Some utilities offer rebates when you install energy saving features. If the payback period is over many, many years then I would consider selling the house and f...
by FBN2014
Fri Apr 26, 2019 4:58 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 902
Views: 86809

Re: U.S. stocks continue to soar!

My prediction is the S&P 500 at 3500 in November 2020.
by FBN2014
Fri Apr 26, 2019 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: window replacement: return on investment
Replies: 23
Views: 2108

Re: window replacement: return on investment

As a former real estate appraiser I can tell you that you will not recoup your window expense on resale. New bathroom, kitchen, paint, and flooring are most important on resale value.
by FBN2014
Fri Apr 26, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Advising financially unsavvy family on windfall
Replies: 77
Views: 5660

Re: Advising financially unsavvy family on windfall

As others have said, stay out of their business with any advice. They are not going to change their financial behavior. Most likely the money will be squandered in a couple of years. It only took my brother 2 years to blow through $600K.
by FBN2014
Tue Apr 23, 2019 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 29
Views: 2386

Re: Social Security Benefits Strategy

Social Security is broke in 2035 according to the latest trustees report. My guess is that as soon as Congress gets its act together that means testing and elimination of all the strategies to maximize SS payouts will happen. https://www.barrons.com/articles/social-security-deficit-reserves-check-be...
by FBN2014
Tue Apr 23, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

An in law's parents died over ten years ago, multiple siblings inherited their childhood home and they have allowed the ne'er do well sibling to live there, rent-free, for all these years. Why? None of the rest of the kids ever want that sibling to show up on their doorstep, homeless. It's really r...
by FBN2014
Tue Apr 23, 2019 4:42 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

An in law's parents died over ten years ago, multiple siblings inherited their childhood home and they have allowed the ne'er do well sibling to live there, rent-free, for all these years. Why? None of the rest of the kids ever want that sibling to show up on their doorstep, homeless. It's really r...
by FBN2014
Tue Apr 23, 2019 4:36 am
Forum: Personal Investments
Topic: Getting through a 2008-like crash during retirement
Replies: 38
Views: 4473

Re: Getting through a 2008-like crash during retirement

No financial crisis in our lifetime. https://www.usnews.com/news/articles/2017-06-27/janet-yellen-i-dont-see-a-financial-crisis-in-our-lifetimes Those comments by Yellen are almost 2 years old. I would like to know her feelings about this latest development: https://m.mpamag.com/news/nointerest-noi...
by FBN2014
Mon Apr 22, 2019 5:51 pm
Forum: Personal Investments
Topic: Variable annuity
Replies: 8
Views: 987

Re: Variable annuity

Before you decide you should look at the Jefferson National VA. No mortality or expense fees, a $20/month administration fee only. Over 370 mutual funds that includes a good selection of Vanguard and DFA funds. No surrender periods either so your money is 100% liquid.
by FBN2014
Mon Apr 22, 2019 1:11 pm
Forum: Personal Investments
Topic: Getting through a 2008-like crash during retirement
Replies: 38
Views: 4473

Re: Getting through a 2008-like crash during retirement

You would probably be a candidate for putting a portion of your assets into an annuity that would guarantee an income to cover a portion of your expenses. I know annuities are bad mouthed by many on this board but for some people it could be appropriate especially for those who are overly concerned ...
by FBN2014
Mon Apr 22, 2019 12:03 pm
Forum: Personal Investments
Topic: Selling Business - Requesting advice on how to invest proceeds
Replies: 15
Views: 1405

Re: Selling Business - Requesting advice on how to invest proceeds

I am 48, a business owner, and I have decided to partner with private equity. As a result of the transaction, I expect to receive approximately $9.5M in proceeds. My cost basis for this sale is ~$2M, leaving a ~$7.5M capital gain subject to long-term capital gains (LTCG) taxes. I live in Ohio (LTCG...
by FBN2014
Sun Apr 21, 2019 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Total return and withdrawal rate calculator
Replies: 2
Views: 247

Total return and withdrawal rate calculator

I am trying to model an investment account that will calculate the end value for various rates of returns over various time frames using various withdrawal rates. Does anyone know of such a calculator that I can use?
by FBN2014
Sat Apr 20, 2019 8:49 am
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 10
Views: 1022

Re: Portfolio Review Request

Welcome to Bogleheads. You should post this in the Personal Investments forum.
by FBN2014
Tue Apr 16, 2019 7:32 pm
Forum: Investing - Theory, News & General
Topic: Fixed Indexed Annuities
Replies: 22
Views: 1176

Re: Fixed Indexed Annuities

The agent will dazzle you with illustrations of complex, mysterious indexing strategies that will amaze you with the projected returns. None of these illustrations are guaranteed returns in fact it says right on the illustration in one of the columns "non-guaranteed". These annuities historically ha...
by FBN2014
Tue Apr 16, 2019 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 84
Views: 6484

Re: Executor of Will - Selling House in Poor Condition

Good advice. A two hour flight means 1000+ miles away. The will usually names a successor executor if the appointed executor cannot serve. If not hire an attorney and petition the probate court for relief. Take it from me your spouse doesn't need this headache. What does "petition the probate court...
by FBN2014
Tue Apr 16, 2019 6:18 pm
Forum: Investing - Theory, News & General
Topic: Reverse Mortgage for Sequence of return risk
Replies: 30
Views: 1346

Re: Reverse Mortgage for Sequence of return risk

I just watched a webinar on this very topic by a reverse mortgage lender. He spoke about Wade Pfau's research on this. Pfau has a book on reverse mortgages also and how they fit into a financial plan for retirement. Send me a message if you want to watch the recording.
by FBN2014
Tue Apr 16, 2019 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 84
Views: 6484

Re: Executor of Will - Selling House in Poor Condition

The "Facts" 1) Spouse is executor for the will of a recently deceased family member 6) House in bad shape: a) incredibly cluttered, b) kitchen needs substantial work, c) bathroom needs substantial work, d) some of the floors feel like they are sloping, and e) some noticeable cracks in the wall (inf...
by FBN2014
Tue Apr 16, 2019 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 84
Views: 6484

Re: Executor of Will - Selling House in Poor Condition

The "Facts" 1) Spouse is executor for the will of a recently deceased family member 6) House in bad shape: a) incredibly cluttered, b) kitchen needs substantial work, c) bathroom needs substantial work, d) some of the floors feel like they are sloping, and e) some noticeable cracks in the wall (inf...
by FBN2014
Tue Apr 16, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 84
Views: 6484

Re: Executor of Will - Selling House in Poor Condition

All - thank you for the inputs, very helpful. Good pointers on checking if the homeowners insurance will still be good and some companies to remove junk or manage estate sales. Another wrinkle ... my spouse has floated the idea of using "our" money to payoff the $55k remaining mortgage while we sor...
by FBN2014
Tue Apr 16, 2019 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Executor of Will - Selling House in Poor Condition
Replies: 84
Views: 6484

Re: Executor of Will - Selling House in Poor Condition

First off I would not be telling your spouse what to do unless she asks your opinion. We had a similar situation with my MIL's house after she died. Lots of clutter and repairs needed. One of the heirs, a brother, said he would fix up the house on weekends so that it could be sold for top dollar. Tw...
by FBN2014
Tue Apr 16, 2019 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Sorry you're in this situation. What you are doing is fine to satisfy the terms of the trust (according to what has been said here). Given the hostility you are receiving I would be inclined to make no changes. If he doesn't want you to call him, I would respond in kind and ask them not to contact ...
by FBN2014
Mon Apr 15, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

From what you describe, it may not prevent the beneficiary from asking, but it would eliminate the OP's obligation to respond. A lot of heavy lifting, but if it works, the beneficiary will get what he seems to want- control over his money without having to deal with the OP. The OP will be out of th...
by FBN2014
Mon Apr 15, 2019 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

If the beneficiary has an annuity purchased that somehow cannot be sold, what impact would it have on the beneficiary's eligibility for government services such as Medicaid? If he lives long enough and the money is no longer in stocks, it seems very likely that medical and living assistance service...
by FBN2014
Mon Apr 15, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Would such a provision prevent the trust from buying the annuity and then assigning it to the beneficiary? The trust would have to purchase the annuity in the beneficiary's name from the start. Yes, it would seem to. I would think the trust would have to buy the annuity in the name of the beneficia...
by FBN2014
Sun Apr 14, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Then the trust would own the home? You would distribute the home from the trust to the beneficiary? Yes, he can have the house. I am thinking that perhaps one of the trusts can be decanted so that the terms are identical and then merged to purchase the annuity. My reading of the law for decanting s...
by FBN2014
Sun Apr 14, 2019 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

As long as the difficult beneficiary is also among the beneficiaries of the family trust, I don't see how to make a clean break. Maybe the lawyer can think of a way to make a transfer of money to the beneficiary out of the family trust that would end his claim to anything else from it. Then the OP ...
by FBN2014
Sun Apr 14, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

I have probably missed this, but how do the provisions of the other trust compare to this (insurance?) trust, both for the PITA beneficiary and for the remaindermen? The family trust does not have the language that the interests of the primary beneficiary should be paramount. I suspect this is so b...
by FBN2014
Sat Apr 13, 2019 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

The annuity seems pretty bad to me. Impossible to say whether the annuity is bad or not without knowing the age and health status of the beneficiary. Also, your proposed annuity would leave the secondary beneficiaries with nothing if the primary lives to his life expectancy or beyond. Is that in ke...
by FBN2014
Sat Apr 13, 2019 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Why does the trustee need to get the approval of the beneficiary? Does the trust recommend that? The fact that the beneficiary is "difficult" is irrelevant to the trustee doing the best job he/she can. Assume the beneficiary is not communicating with you (for decision-making purposes) and continue ...
by FBN2014
Sat Apr 13, 2019 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

For this situation it is hard to see any satisfactory solution that continues the status quo. That would mean the trust continues, some trustee makes the investment and distribution decisions and the beneficiary continues to complain. Dumping the trust on a corporate trustee would get the OP out of...
by FBN2014
Sat Apr 13, 2019 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

No one else thinks 3% is too conservative? The beneficiary is in his sixties. 3.5 or even 4% would be reasonable. I also think 40/60 is very conservative. Why not 60/40? You could also annuitize, say, half with an inflation indexed SPIA, and then increase the equity exposure of the other half to 70...
by FBN2014
Sat Apr 13, 2019 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

No one else thinks 3% is too conservative? The beneficiary is in his sixties. 3.5 or even 4% would be reasonable. I also think 40/60 is very conservative. Why not 60/40? You could also annuitize, say, half with an inflation indexed SPIA, and then increase the equity exposure of the other half to 70...
by FBN2014
Sat Apr 13, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Ianal Just curious does the trust document allow for the trustee to take a fee? If it does not why would ANY one take this on? Could you threaten the beneficiary that if he continues to annoy you you are going to hire a corporate trustee and then he will get LESS monies a year? You are making me re...
by FBN2014
Fri Apr 12, 2019 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

dbr wrote:
Thu Apr 11, 2019 7:35 pm
I am having trouble reconciling 3% withdrawal being $20,000 and less than 6% being $58,000.
I realized my original post was confusing. I meant to say that the payout would increase by $20,000 from $38,000 to $58,000.
by FBN2014
Fri Apr 12, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

... 3% is an ultraconservative withdrawal rate intended to protect longevity to a point where chances of still being alive are minimal. .... The 4% rule is intended to make sure that the principal is unlikely to run out during a retiree's lifetime. It doesn't take into account the next generation. ...
by FBN2014
Fri Apr 12, 2019 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

You are absolutely correct, he wants the principle which I guarantee based on his past history would be gone in a few years. Then he would try to sue me claiming that I should never have given him the money knowing he would squander it since he is financially illiterate. Indeed, classic "Beyond the...
by FBN2014
Thu Apr 11, 2019 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

This is an issue that the trustee needs legal advice on before proceeding. I'm guessing OP is the trustee?? Anyway...I would think the trustee, whoever he is, should take legal advice on interpretation of the trust documents, and then do exactly as he believes appropriate. Then unfriend the benefic...
by FBN2014
Thu Apr 11, 2019 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

I wonder how the sibling would take suddenly going from the lower current distribution rate to the annuity rate? This would probably reinforce his belief that the trustee has been miserly and/or cheating him all along considering his beliefs and his financial illiteracy. That could lead to him init...
by FBN2014
Thu Apr 11, 2019 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Others have suggested resigning, but who would accept this trust as trustee? I sure wouldn’t. I still like your idea of the annuity which still leaves the possibility of something for the remaindermen. Gill I will be getting a legal opinion on this to cover my bases. After reading the comments, my ...
by FBN2014
Thu Apr 11, 2019 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

I have no special knowledge of trusts, but to me, it would be impossible to know whether the trustee is acting in the beneficiary's best interest without knowing the fees (if any) paid to the trustee, the financial advisor, and any others. What are those amounts currently? What would those amounts ...
by FBN2014
Thu Apr 11, 2019 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Why hasn’t the trustee resigned? Is this a corporate or individual trustee? The annuity seems pretty bad to me. Individual trustee, sibling. Is this a sort of Spendthrift or Special Needs Trust, where the beneficiary was thought to be unable to manage the money well? The reasoning behind the creati...
by FBN2014
Thu Apr 11, 2019 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 7209

Re: Trust investment choices for a difficult beneficiary

Does the trustee think this "difficult" beneficiary has the wherewithal to manage the constant payout for their long-term best interest? Would an inflation adjusted annuity better meet the intent of the trust? From my point of view, any annuity would seem to preclude the trustee from increasing the...