Search found 2473 matches

by ralph124cf
Sun May 24, 2020 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax due for DF upon selling jointly owned condo where he did not live
Replies: 9
Views: 857

Re: Income tax due for DF upon selling jointly owned condo where he did not live

Re your advice, two questions: 1. I actually paid for the capital improvements. Can my father subtract half? Can he subtract them all? Does it matter if the invoice is in my name or his name (currently one of the invoices is in our realtor's name for some reason despite my having paid it, but I can...
by ralph124cf
Wed May 20, 2020 8:49 pm
Forum: Personal Investments
Topic: Gold vs Mining Stocks?
Replies: 17
Views: 1246

Re: Gold vs Mining Stocks?

An interesting difference between physical gold and a gold mine mutual fund is that with no change in the price of gold, the physical gold loses value due to storage and insurance, while gold mine stocks (and mutual funds) can make money with a constant gold price. As long as the costs of extraction...
by ralph124cf
Sun May 17, 2020 10:12 am
Forum: Personal Consumer Issues
Topic: Sump Pump Dual System
Replies: 28
Views: 1220

Re: Sump Pump Dual System

I am strongly in favor of having a backup pump. If it is a battery powered pump, I strongly urge you to install an additional dedicated 20 amp circuit so that tripping a single circuit breaker does not disable both pumps. I would like to have a water powered pump, but in my area they must be permitt...
by ralph124cf
Sun May 17, 2020 12:54 am
Forum: Personal Investments
Topic: Should I Transfer 401K to Roth 401K?
Replies: 34
Views: 2118

Re: Should I Transfer 401K to Roth 401K?

Your optimum strategy depends on future unknown government actions. These are known unknowns, as opposed to unknown unknowns, such as UFOs. You have to make your own guesses as to future tax law and future retirement rules. This website is constrained by it's own rules to only talk about CURRENT law...
by ralph124cf
Sat May 16, 2020 3:23 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3685

Re: Open Social Security strategy results question

There a number of reasons that I find this analysis incomplete. It does not take non-wage non-SS income into account, such as interest, dividends, annuities or royalties. It also does not consider the opportunity to do ROTH conversions at lower tax rates before starting SS. When I hit full retiremen...
by ralph124cf
Thu May 14, 2020 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Family member returning borrowed money?
Replies: 27
Views: 3064

Re: Family member returning borrowed money?

Thanks everyone, I'll simply have her do an online transfer and move on. I always overthink everything as usual, definitely an annoying trait. I believe their might be a $2,500 daily limit, but I guess we will see. If there is a $2,500 limitation, that is the bank's limitation for the senders accou...
by ralph124cf
Thu May 14, 2020 4:50 pm
Forum: Personal Investments
Topic: Lost Job Temporarily -- Sell Brokerage?
Replies: 19
Views: 1814

Re: Lost Job Temporarily -- Sell Brokerage?

With a low income year or two, now is the time to take capital gains (if any) in your brokerage account. Also convert tax deferred retirement accounts to ROTH up to whatever tax bracket you choose. Consider what different earnings levels would mean to health care government assistance for Obama-care...
by ralph124cf
Mon May 04, 2020 11:40 pm
Forum: Personal Investments
Topic: Is it bad idea to have dividend stocks in Taxable Account?
Replies: 20
Views: 2387

Re: Is it bad idea to have dividend stocks in Taxable Account?

It also matters which stage of life you are in. During the accumulation stage, you would generally like to avoid the tax drag of dividends and capital gains distributions in a taxable account. During retirement, the reduced tax rates on qualified dividends and long term capital gains makes this type...
by ralph124cf
Mon May 04, 2020 9:56 pm
Forum: Personal Consumer Issues
Topic: HVAC Proposals - Any Thoughts
Replies: 14
Views: 1149

Re: HVAC Proposals - Any Thoughts

Do you really need a condensing furnace, or would a non-condensing furnace at 80-85% efficiency be OK?

I really like my variable speed fan, much quieter than the single speed fans and I keep it on all the time to move air thru the filters and the circulation keeps room temperatures constant.

Ralph
by ralph124cf
Mon May 04, 2020 7:10 pm
Forum: Personal Consumer Issues
Topic: Toilet lid suddenly popped up?
Replies: 30
Views: 3573

Re: Toilet lid suddenly popped up?

While the handyman is there, have him replace the wall or floor mounted shutoff valve with a "quarter-turn" valve. These are much more reliable and less prone to leaking. This will usually involve shutting off water to the whole house for about 30 minutes.

Ralph
by ralph124cf
Mon May 04, 2020 7:02 pm
Forum: Personal Consumer Issues
Topic: Best [BBQ grill] for the money?
Replies: 94
Views: 6256

Re: Best [BBQ grill] for the money?

12 years ago I bought a HUGE Weber five burner stainless steel grill, (four main burners, one side burner), used, at a moving sale. The owner couldn't tell me how old it was, because he bought it from the previous homeowner. I paid $100. It has worked perfectly since day one, no visible rust, and it...
by ralph124cf
Sat May 02, 2020 5:37 pm
Forum: Investing - Theory, News & General
Topic: How are mutual funds fees calculated if the year is negative?
Replies: 18
Views: 1856

Re: How are mutual funds fees calculated if the year is negative?

so your saying if you have a balance of 100k in there, they take 0.10% of it every year done on a daily basis spread out ? 0.10% / 365 days for daily fee calculation? Short answer, yes. Slightly longer answer, your balance fluctuates daily, so the amount you pay varies daily. Longer answer still, t...
by ralph124cf
Sat May 02, 2020 5:05 pm
Forum: Personal Investments
Topic: QCD RMD and Roth Conversion
Replies: 9
Views: 523

Re: QCD RMD and Roth Conversion

One limitation that has not been mentioned: The QCD is limited to $100K per year, per person. I'm sure that there some people on this board (not me) that have RMDs greater than $100K.

Ralph
by ralph124cf
Fri May 01, 2020 7:32 pm
Forum: Personal Investments
Topic: Starting life over from scratch at 33
Replies: 32
Views: 6254

Re: Starting life over from scratch at 33

You haven't mentioned life insurance. With a young son, you need some insurance to care for him if you are gone. Is the father well enough off that he could (and would) take the child? Be careful to ONLY buy term life. Be aware that any insurance agent or financial adviser WILL try to sell you whole...
by ralph124cf
Fri May 01, 2020 7:27 pm
Forum: Personal Investments
Topic: Starting life over from scratch at 33
Replies: 32
Views: 6254

Re: Starting life over from scratch at 33

I don't know how Georgia's teachers retirement plan works, but in many cases, if you work a job that would entitle you to Social Security, and also have a teachers pension, then you will have all or a portion of your Social Security payment approximately equal to your pension forfeited. Nasty law. R...
by ralph124cf
Thu Apr 30, 2020 2:24 am
Forum: Personal Consumer Issues
Topic: Old bluestone patio. Leveling and cost
Replies: 4
Views: 595

Re: Old bluestone patio. Leveling and cost

How long do you plan to stay in the house? If less than five years, take the cheap deal.

I agree that the base is failing, so if this is your forever house, you may want to do the proper fix.

Ralph
by ralph124cf
Thu Apr 30, 2020 1:49 am
Forum: Personal Consumer Issues
Topic: 20 AMP Plugs
Replies: 31
Views: 2062

Re: 20 AMP Plugs

The primary reason for the 20 amp design receptacle is to let you know at a glance which outlets will allow up to twenty amps draw. Fifteen amp outlets will work with the twenty amp draw, and are cheaper, so many contractors and home builders use them if the homeowner is unaware of the difference. R...
by ralph124cf
Wed Apr 29, 2020 1:57 pm
Forum: Personal Investments
Topic: Question about draining an Vanguard Individual 401K
Replies: 7
Views: 490

Re: Question about draining an Vanguard Individual 401K

There are a couple of thing going on here that have not been mentioned. Yes, you can ROLLOVER the ROTH 401(k) to an ROTH IRA. You cannot ROLLOVER the tax deferred 401(k) to a ROTH IRA. You have to ROLLOVER the 401(k) to a tIRA, then you can CONVERT the tIRA to ROTH, paying taxes on the conversion as...
by ralph124cf
Wed Apr 29, 2020 1:33 pm
Forum: Personal Investments
Topic: USAA to Charles Schwab...
Replies: 7
Views: 608

Re: USAA to Charles Schwab...

In November of last year I moved all of our IRAs and taxable portfolio from USAA to Schwab. This is most easily done by having Schwab do it, no contact needed with USAA. I already had accounts with Schwab, so I was able to consolidate my accounts. You can move the accounts in kind, so no need to sel...
by ralph124cf
Wed Apr 29, 2020 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Present Value for Retirement Withdrawals Seems Awfully Low
Replies: 21
Views: 2254

Re: Present Value for Retirement Withdrawals Seems Awfully Low

Are you factoring in any expected real income gains from promotions or job changes, and the associated increases in retirement contributions? Are you factoring in inflationary gains in income and associated increases in retirement contributions?

Ralph
by ralph124cf
Tue Apr 28, 2020 5:52 pm
Forum: Personal Investments
Topic: Cost basis during Roth conversion
Replies: 31
Views: 1807

Re: Cost basis during Roth conversion

I see one thing that could be causing confusion about cost basis of stocks in tIRA and ROTH.

In both types of brokerage accounts, each stock will show your cost basis. This is strictly for your information and bookkeeping. It is not reported to the IRS. They don't care.

Ralph
by ralph124cf
Tue Apr 28, 2020 5:39 pm
Forum: Personal Investments
Topic: RMDs
Replies: 13
Views: 868

Re: RMDs

I like the idea of converting an amount equal to the RMD to ROTH. Your income, and tax, remain the same as they would have been, and your future RMDs go down versus skipping the RMD this year. Also, with the market down a bit this year, you can convert more stock, in kind, for the same value of the ...
by ralph124cf
Tue Apr 28, 2020 5:32 pm
Forum: Personal Investments
Topic: Investing in 401k w/low life expetancy
Replies: 23
Views: 1717

Re: Investing in 401k w/low life expetancy

I would strongly suggest an additional $1M in 30 year Term Life insurance, if you can get it.

Your wife will be low income after your death, and $500K really doesn't go that far.

Ralph
by ralph124cf
Wed Apr 22, 2020 1:00 am
Forum: Personal Investments
Topic: Whole Life policy with LT care rider
Replies: 22
Views: 1092

Re: Whole Life policy with LT care rider

No one has replied yet, so I will tell you to place your hand firmly on your wallet, and run away from this "salesman" as fast as you can. He only has his eye on his commission, which will be about your first year premium, plus an ongoing commission.

Ralph
by ralph124cf
Mon Apr 20, 2020 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy With 2020 RMD's Waived
Replies: 14
Views: 1515

Re: Strategy With 2020 RMD's Waived

It just so happens that $326k AGI is the top of one joint IRMAA bracket, and $326k Taxable Income is the top of the 24% Joint Income tax bracket. Since taxable income is generally less than AGI by at least the standard deduction, they don't seem to be actually linked, despite having the same nominal...
by ralph124cf
Mon Apr 20, 2020 3:03 pm
Forum: Personal Investments
Topic: Best Source for Monthly Expenses?
Replies: 3
Views: 435

Re: Best Source for Monthly Expenses?

I try to practice income smoothing. I had not yet taken my 401(k) required $60k distribution, so I rolled over the entire balance to my IRA, and then converted $60k to my ROTH. This keeps my income (and tax rate and IRMAA status) constant, and reduces future RMDs. I try to manage our AGI as close to...
by ralph124cf
Mon Apr 20, 2020 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Furlough
Replies: 11
Views: 1124

Re: Possible Furlough

An involuntary furlough would certainly entitle her to unemployment, a voluntary furlough, with medical benefits paid, might not. Check first.

Ralph
by ralph124cf
Sat Apr 18, 2020 6:33 pm
Forum: Personal Investments
Topic: Best Hub Bank
Replies: 19
Views: 1814

Re: Best Hub Bank

I think that the first linked article which started the discussion is quite good, however, the date on it is 2010, and much may have changed.

Ralph
by ralph124cf
Sat Apr 18, 2020 4:22 pm
Forum: Investing - Theory, News & General
Topic: Impact of charitable donations to economy during crisis
Replies: 13
Views: 596

Re: Impact of charitable donations to economy during crisis

Whatever charities you choose to give to, please investigate executive salaries and perks. Also, many use high paid commissioned fund raisers. You want your donation to help the people targeted, not the bosses. Giving to the Getty Foundation or the Museum of Modern Art does not help feed people. Ralph
by ralph124cf
Sat Apr 18, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: pension rollover into IRA - tax implications going forward?
Replies: 15
Views: 489

Re: pension rollover into IRA - tax implications going forward?

If you have both been doing back door ROTHs, then presumably you do not have any current balances in your tIRAs. Depending on the size of the current 401(k) balance, you COULD rollover the 401(k) to the IRA, and then convert the entire balance to ROTH. The size of his current balance might make the ...
by ralph124cf
Sat Apr 18, 2020 10:56 am
Forum: Investing - Theory, News & General
Topic: Is Virgin Galactic (SPCE) a value stock?
Replies: 21
Views: 921

Re: Is Virgin Galactic (SPCE) a value stock?

This is a highly speculative stock. So were Amazon and Goolge when they started out. I own a small piece of SPCE. Perhaps it will turn out to be the next Amazon. Much depends on their next launch attempt.

Ralph
by ralph124cf
Sat Apr 18, 2020 10:43 am
Forum: Personal Investments
Topic: Where do we put 74 year old mother-in-laws money?
Replies: 16
Views: 1120

Re: Where do we put 74 year old mother-in-laws money?

Does she have long term care insurance? If not, it is probably too late to buy now, but this will inform the choice of investments if the money may be needed for long term care. If long term care insurance is in place already, then investments can be more aggressive.

Ralph
by ralph124cf
Fri Apr 17, 2020 10:34 pm
Forum: Personal Consumer Issues
Topic: Type of Lawyer needed or advice
Replies: 29
Views: 2413

Re: Type of Lawyer needed or advice

Cell phone video is your friend.

Ralph
by ralph124cf
Fri Apr 17, 2020 10:32 pm
Forum: Personal Consumer Issues
Topic: Amazon pages often take long time to load
Replies: 17
Views: 997

Re: Amazon pages often take long time to load

I believe that it may be your internet speed that is the problem. Do a speed test.

Ralph
by ralph124cf
Fri Apr 17, 2020 10:29 pm
Forum: Personal Consumer Issues
Topic: How to patch a hole in an ejector pit?
Replies: 7
Views: 771

Re: How to patch a hole in an ejector pit?

In many jurisdictions, this would be against code. You are putting ground water (storm water) into the sanitary sewer system, which can cause overloading of the sewage treatment plants during heavy rain. Unless you live in a VLCOL area, I would also question the $650 estimate for the additional sump...
by ralph124cf
Fri Apr 17, 2020 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance - Deductible Analysis
Replies: 4
Views: 485

Re: Homeowner's Insurance - Deductible Analysis

The jump in deductible from 6k to 15k does not seem adequately compensated for you. I would stick with the 6k deductible.

Ralph
by ralph124cf
Fri Apr 17, 2020 5:43 pm
Forum: Personal Investments
Topic: My Mother's Annuities - Am I Overthinking This?
Replies: 6
Views: 723

Re: My Mother's Annuities - Am I Overthinking This?

For a 94 year old, any period certain will significantly reduce the payout. Consider a single life only annuitization, if possible. The period certain benefits the heirs only, if she dies before the period certain.

Ralph
by ralph124cf
Fri Apr 17, 2020 5:26 pm
Forum: Personal Consumer Issues
Topic: How to patch a hole in an ejector pit?
Replies: 7
Views: 771

Re: How to patch a hole in an ejector pit?

An ejector pit is normally for sewage, or drainage for a basement. If for sewage, this hole could allow sewage to seep into the ground.

Do you have a sump pump in a separate pit?

Ralph
by ralph124cf
Thu Apr 16, 2020 2:21 pm
Forum: Personal Consumer Issues
Topic: Portable AC keeps tripping breaker
Replies: 26
Views: 908

Re: Portable AC keeps tripping breaker

Is this a rental house that you own?

Ralph
by ralph124cf
Thu Apr 16, 2020 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 159
Views: 4476

Re: Long Term Care Insurance

IF you decide to purchase, get the longest possible elimination period. This will GREATLY lower your premium because a great many people only last a few months in LTC, and the insurance companies know this.

Ralph
by ralph124cf
Thu Apr 16, 2020 10:10 am
Forum: Personal Investments
Topic: Switched employers--what do I do with retirement accounts?
Replies: 17
Views: 967

Re: Switched employers--what do I do with retirement accounts?

Hello--Thank you for your time and consideration of my questions. I'm new to posting and was looking for a previous thread but didn't see one on this topic. I've recently switched employers. My first employer had retirement accounts across a 457 governmental, 401a, and 403B. My new employer invests...
by ralph124cf
Wed Apr 15, 2020 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Tax planning
Replies: 38
Views: 2511

Re: Retirement Tax planning

Are all of your IRAs inherited? Do you have any other tax deferred funds such as 457, 401(k)s or 403(b)s? If so these can usually be rolled over to IRAs when you are retired, and then converted to ROTH. Presumably, you would only do this up to the top of the 24% bracket. This would cost you when you...
by ralph124cf
Sat Apr 11, 2020 2:51 pm
Forum: Investing - Theory, News & General
Topic: Does Airline industry operate paycheck 2 paycheck ?
Replies: 11
Views: 1082

Re: Does Airline industry operate paycheck 2 paycheck ?

I don't believe that there is ANY insurance company that could afford to pay out this type of claim.

Ralph
by ralph124cf
Fri Apr 10, 2020 6:43 pm
Forum: Personal Consumer Issues
Topic: How do you maximize enjoyment after achieving FI?
Replies: 161
Views: 8456

Re: How do you maximize enjoyment after achieving FI?

Learn to fly airplanes. That will take care of any excess money. If that doesn't do it, try yachting. Totally different folks in these communities.

Ralph
by ralph124cf
Sun Apr 05, 2020 5:42 pm
Forum: Personal Investments
Topic: Easy Schwab question
Replies: 12
Views: 805

Re: Easy Schwab question

Needs to be in brokerage. One thing I don’t like is that there is no running tally of how much open limit orders are for on stock orders. If I have 1k to spend, I often have to manually calculate how much my orders are for to not go over. Anyone know if there is a way to track this? Also, seems lik...
by ralph124cf
Sat Apr 04, 2020 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: House Upsizing/ Upgrade
Replies: 7
Views: 830

Re: House Upsizing/ Upgrade

I think that a 2000-3000 sf house would be just fine. Housing in many areas is on sale right now. The downside is that your own house probably will not sell for what you think that it will. I do recommend moving out before sprucing up for selling. If you try to live there during showings, that will ...
by ralph124cf
Sat Apr 04, 2020 9:13 pm
Forum: Personal Consumer Issues
Topic: Amazon delivery & payment issue
Replies: 20
Views: 1778

Re: Amazon delivery & payment issue

I am shopping on the amazon whole foods web site, and I can't understand how you could find six bags of food to buy. I see only a limited selection of fruits and produce, and no fresh meat at all. No canned goods either.

Ralph
by ralph124cf
Fri Apr 03, 2020 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Without a requirement for RMD's in 2020, are you still going to make your QCD's?
Replies: 24
Views: 1477

Re: Without a requirement for RMD's in 2020, are you still going to make your QCD's?

I try to practice income smoothing. I am doing my QCD and then converting the remainder of my RMD to ROTH. This allows me to keep my AGI constant from year to year and below tax bracket and IRMAA bracket limits. I am already taking monthly distributions from some retirement accounts, but I will now ...
by ralph124cf
Wed Apr 01, 2020 8:27 pm
Forum: Personal Investments
Topic: Portfolio Review Request from New Member
Replies: 12
Views: 897

Re: Portfolio Review Request from New Member

People in the highest tax brackets are willing to pay more for the tax free nature of Muni bonds. This makes them overpriced (meaning lower interest rates) for people in the lower tax brackets.

Ralph