Search found 511 matches

by fourwheelcycle
Fri Jan 18, 2019 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Details
Replies: 19
Views: 1066

Re: 529 Details

I have often wondered about a variant of this: the effects of changing beneficiaries on the 529 account. Suppose you contribute $15K per year to stay under the annual gift tax exclusion for two kids: kid A and kid B. Kid A doesn't use up the full account, so you redirect to kid B by changing the be...
by fourwheelcycle
Thu Jan 17, 2019 8:50 am
Forum: Investing - Theory, News & General
Topic: Any thoughts on the role of Gold in your portfolio?
Replies: 101
Views: 5509

Re: Any thoughts on the role of Gold in your portfolio?

OK The answer is that people do indeed hold gold. Maybe some of them will answer. Yes, I do hold some gold. When I was young my grandmother had a few gold coins she would show us from time to time. When she died the coins went to her children and one of them, an 1853 gold dollar (tiny, 1.5 grams, w...
by fourwheelcycle
Wed Jan 16, 2019 8:04 pm
Forum: Personal Consumer Issues
Topic: Car reviews - Consumer Reports or other sources?
Replies: 26
Views: 2436

Re: Car reviews - Consumer Reports or other sources?

I always check Edmunds and Car and Driver. If you get down to two cars that are similar you can often find head to head comparisons on YouTube, or at least several detailed but separate reviews of each car.
by fourwheelcycle
Wed Jan 16, 2019 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Owned By Revocable Living Trust
Replies: 15
Views: 867

Re: Auto Owned By Revocable Living Trust

In our state we can put our house in our revocable trust, which we have done, but we cannot put our cars or the contents of our house in the trust. Our attorney included a Deed of Gift in our estate documents which gives our cars and the contents of our house to our trust if we die. This accomplishe...
by fourwheelcycle
Mon Jan 14, 2019 9:57 am
Forum: Personal Finance (Not Investing)
Topic: too much college savings
Replies: 40
Views: 3526

Re: too much college savings

We are funding 529s for each grandchild, recognizing the funds can be withdrawn w/o penalty if any grandchild receives a full or partial scholarship or uses the funds for other post-secondary education. If funds are leftover after educational costs we intend to make each grandchild the owner of thei...
by fourwheelcycle
Sun Jan 13, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Loan to son for college with no interest
Replies: 39
Views: 3708

Re: Loan to son for college with no interest

To clarify, he only needs to report on the Form 709 the amount in excess of the annual exclusion..... . Actually, Form 709 requires you to report the full amount of the gift. It is just like a Form 1040, where you begin by showing 100% of your income, followed by the math to calculate your net taxe...
by fourwheelcycle
Wed Jan 09, 2019 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Does such a SS income estimate calculator exist?
Replies: 7
Views: 522

Re: Does such a SS income estimate calculator exist?

SSA has an online Estimate Your Retirement Benefits calculator https://www.ssa.gov/begin-est/ where you can type in your actual wages for each year. I expect you could just enter the real or imaginary wages you want to use for each year and enter zero for the other years, then submit your wage entri...
by fourwheelcycle
Wed Jan 09, 2019 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard quick to close accounts
Replies: 17
Views: 2425

Re: Vanguard quick to close accounts

We might need to know more about how you actually did the transfer, and what instructions you gave. Did you initiate the transfer from Merrill Edge, asking then to contact Vanguard and request a complete transfer of your funds? Is it possible you, or Merrill on their own, indicated this was a full t...
by fourwheelcycle
Tue Jan 08, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: When did tax planning become important for you?
Replies: 20
Views: 1425

Re: When did tax planning become important for you?

For better or worse, I have never done very much tax planning. My wife always set her withholding at the one person level and I set mine at a fixed amount. I used to call the payroll office every spring after I did our taxes and tell them what number to use until the following spring. I've always to...
by fourwheelcycle
Mon Jan 07, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Tech budget to fix issues
Replies: 26
Views: 1634

Re: Vanguard Tech budget to fix issues

I see a lot of of anecdotal stories about Vanguard tech glitches on this forum, but I have never experienced any myself. My wife and I have had all of our taxable savings at Vanguard since the early 1980s. Based on our employers' requirements, we have had all of our employer-based savings at TIAA an...
by fourwheelcycle
Mon Jan 07, 2019 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Child # 3 - seeking advice from older members
Replies: 88
Views: 6688

Re: Child # 3 - seeking advice from older members

My father was one of seven children. He always said the family farm would have gone under during the depression without free labor from the teenage children. My mother was one of five children. Perhaps because they were used to large families my parents also had five children. My wife and I had just...
by fourwheelcycle
Sat Jan 05, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Loan to son for college with no interest
Replies: 39
Views: 3708

Re: Loan to son for college with no interest

I know first-hand that it is not uncommon for U of C students graduate with SIGNIFICANT debt. If your parents have any assets or above subsistence level income there is an expectation that a very meaningful portion of that goes to tuition before you will start getting any need based aide. It is pos...
by fourwheelcycle
Fri Jan 04, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Fund Transfer Missing
Replies: 6
Views: 524

Re: Fund Transfer Missing

Keep after them. Enlist the aid of your Vanguard rep if you have one. I am surprised your Vanguard order and transaction records would only show one $6K order if Vanguard actually sent two $6K pulls to your bank. Assuming your bank is right, hopefully Vanguard's computer system will catch up with it...
by fourwheelcycle
Fri Jan 04, 2019 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Ever wonder if you are saving Too Much?
Replies: 67
Views: 5276

Re: Ever wonder if you are saving Too Much?

You never know what is going to happen in the future (illnesses, job losses, other black swan events). You can't save too much. Unless you feel like you are missing out on life by not spending something to enjoy yourselves---yes, do that! But if you are spending enough to enjoy life, and doing your...
by fourwheelcycle
Thu Jan 03, 2019 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Loan to son for college with no interest
Replies: 39
Views: 3708

Re: Loan to son for college with no interest

Hmm....... Maybe some alcohol was served at the News Year's party and the discussion became a bit "spirited". Perhaps the father overstated his loan position for the sake of a good argument. The next morning, when cooler heads might prevail, I hope the father would back away from his loan idea and w...
by fourwheelcycle
Wed Jan 02, 2019 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: I made a mistake by not selling when the market was high this year
Replies: 153
Views: 19421

Re: I made a mistake by not selling when the market was high this year

Every day that you stay invested when the market is high you are "jumping in", with all of your savings, when the market is high - that seems like a stupid thing to do. However, every day you stay invested when the market is low you are "buying low", with all of your savings - that seems like a very...
by fourwheelcycle
Wed Jan 02, 2019 3:31 pm
Forum: Personal Consumer Issues
Topic: Snow Plowing
Replies: 54
Views: 2503

Re: Snow Plowing

I've answered this question before, in a thread on this same forum. I paid for plowing for thirty years while I was working, then bought a Toro snowblower when I retired at 60. I am 70 now, and clearing our driveway every time it snows is getting a bit old - like me. However, our retirement savings ...
by fourwheelcycle
Tue Jan 01, 2019 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Contributing too much to a 529?
Replies: 43
Views: 3272

Re: Contributing too much to a 529?

I like 529 plans for further education .. as I believe they represent a better commitment to actually help pay for education than other means......I have tried to set up our estate plan in such a way that our desires are carried out with no worries.....I have no idea who will be making decisions ab...
by fourwheelcycle
Sat Dec 29, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 903
Views: 232825

Re: What is your Year 2018 networth change?

Retired. No savings contributions or living expense withdrawals. Net worth down 3.1% on investment performance.
by fourwheelcycle
Fri Dec 28, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Implications of parents paying off child's mortgage
Replies: 22
Views: 2071

Re: Implications of parents paying off child's mortgage

Seems like one option would be to report two gifts from parents to child on IRS 709 forms and leave it at that - a true gift. That would keep the first $60K out of the parents' lifetime gift exclusions. The consecutive gifts option, with all gifts reported on 709 forms, could lead to trouble. The IR...
by fourwheelcycle
Mon Dec 24, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Transfer on Death Question
Replies: 5
Views: 1011

Re: Vanguard Transfer on Death Question

I spoke to Vanguard 's Transition team when I set up TOD's on my father's account. I had to provide names and birth dates, but not addresses or SS numbers. They told me when he dies each TOD beneficiary will have to set up a Vanguard account, if they do not already have one, in order to receive thei...
by fourwheelcycle
Sun Dec 23, 2018 2:31 pm
Forum: Personal Consumer Issues
Topic: Scissor recommendation
Replies: 11
Views: 1345

Re: Scissor recommendation

Best general use scissors - they will cut whatever you need to cut.

https://www.amazon.com/gp/product/B00D6 ... UTF8&psc=1
by fourwheelcycle
Sat Dec 22, 2018 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive Colleges - Investment Worth It
Replies: 67
Views: 2575

Re: Expensive Colleges - Investment Worth It

Many diverse opinions - these college threads get long very quickly! My parents had five children. Dad went to college care of the US government during WWII. Mom never went to college - her father thought college was for only for boys, so only her three brothers went to college. Dad always said he w...
by fourwheelcycle
Sat Dec 15, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: [How do I send my Qualified Charitable Distribution to a charity]?
Replies: 26
Views: 1384

Re: [How do I send my Qualified Charitable Distribution to a charity]?

This yr I mailed the checks in late October. By a wk ago (6 wks later), 4 mavericks had not acknowledged. 3 had a record of the check in their systems and promised to send receipts. 1 claimed no record and broker acknowledged that check was not cashed.......so stopped and re-issued check. Kind of l...
by fourwheelcycle
Sat Dec 15, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: [How do I send my Qualified Charitable Distribution to a charity]?
Replies: 26
Views: 1384

Re: [How do I send my Qualified Charitable Distribution to a charity]?

Are you saying that if VG writes the QCD checks you don't have that same responsibility to get the receipts? I thought you needed them in any situation. I do save the receipts charities mail to me, but, probably like most people, I have never had to submit any of them to the IRS. I just turned 70 1...
by fourwheelcycle
Sat Dec 15, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: How to Evaluate Giving
Replies: 15
Views: 1220

Re: How to Evaluate Giving

I value the roles of national and international charities, but I choose to give the great majority of my donations to charities that benefit our local and regional communities. I am fortunate to be retired with adequate savings and other income resources. My largest donation of money, and my persona...
by fourwheelcycle
Sat Dec 15, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: [How do I send my Qualified Charitable Distribution to a charity]?
Replies: 26
Views: 1384

Re: [How do I send my Qualified Charitable Distribution to a charity]?

I want my RMD QCD to be sent directly to the charity of my choice. Does Vanguard not do this? As others have clarified, Vanguard will only send requested QCD checks, made out to your charities, to you. You will have to mail or otherwise deliver them to your charities. If you write your own QCD chec...
by fourwheelcycle
Fri Dec 14, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: New job, sales at Subaru
Replies: 62
Views: 7687

Re: New job, sales at Subaru

Good luck with your new job! We have had two Subarus and we have been very happy with them. My best advice is to learn to read your customer, or customers if they come in with a spouse or partner, and adjust your sales pitch and your style to match their style and their needs. Customers will usually...
by fourwheelcycle
Tue Dec 11, 2018 8:17 am
Forum: Personal Finance (Not Investing)
Topic: IRS on making QCD by check from IRA
Replies: 14
Views: 879

Re: IRS on making QCD by check from IRA

Get the check to the charity in time for them to cash it in 2018. If you don't get image copies of the cashed checks make certain to photocopy it for your tax records. I just did my first RMD/QCDs, using Vanguard's online QCD check request facility. Amazingly, the checks arrived in my mailbox three...
by fourwheelcycle
Mon Dec 10, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5
Replies: 9
Views: 2075

Re: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5

I recently turned 70 1/2 and used Vanguard's online QCD check request facility to request checks for six different charities. I was surprised to find the checks in my mailbox only three days later!
by fourwheelcycle
Tue Dec 04, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: NYT Article: The Myth of Steady Retirement Spending
Replies: 50
Views: 7097

Re: NYT Article: The Myth of Steady Retirement Spending

My wife and I are ready, willing and able to spend more in retirement. I am now ten years into retirement and we have definitely increased our international travel - but only from zero trips per year to about one and a half trips per year. We have found that the years when we do two trips to Europe ...
by fourwheelcycle
Mon Nov 26, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Being a Good Son
Replies: 22
Views: 3348

Re: Being a Good Son

Focus on the durable power of attorneys for medical and the one for financial. And the living wills. And the location of the will and/or trust, vs. the contents. I agree. These are key estate documents every aging parent should prepare. The designated responsible individuals, often adult children, ...
by fourwheelcycle
Wed Nov 21, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: At a crossroad
Replies: 7
Views: 1729

Re: At a crossroad

I agree on the recommendation to ask your question at The White Coat Investor forum. I have seen young MDs agonize both ways on this issue, and I have seen good and bad outcomes as a result of going in either direction. Money should simply not be an issue - with reasonable Boglehead spending and inv...
by fourwheelcycle
Fri Nov 16, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: What to do with RMD - 91 Year Old Mom
Replies: 18
Views: 1578

Re: What to do with RMD - 91 Year Old Mom

I think my mom will have enough funds even if she goes into assisted living but she’s so scared of not having enough money she won’t gift any of the kids or grandkids until she passes. And she doesn’t believe in giving to charities (yeah, I know). I could not see a comment on how much other accessi...
by fourwheelcycle
Wed Nov 14, 2018 4:53 pm
Forum: Personal Consumer Issues
Topic: Quality pea coat vs parka
Replies: 13
Views: 1636

Re: Quality pea coat vs parka

Peacoats from Army Surplus stores are all wool, inexpensive, well made and stylish. They sell new ones as well as used, typically. During college in the late 1960s I started out with my father's authentic Navy peacoat from WWII. I thought it was very stylish and cool, but as soon as winter arrived ...
by fourwheelcycle
Mon Nov 12, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: At what point does a life insurance policy not make sense?
Replies: 17
Views: 2155

Re: At what point does a life insurance policy not make sense?

My wife and I had very stable jobs with good health insurance and short and long term disability insurance. We did not have our two children until our mid-thirties. By that time we had a good start on our savings and 2X salary term insurance through our employers. As a result, we never felt we neede...
by fourwheelcycle
Sat Nov 10, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Amazon says TurboTax 2018 will be released November 12
Replies: 85
Views: 10123

Re: Amazon says TurboTax 2018 will be released November 12

Amazon has complaints that the Deluxe including State isn't actually including State and wants you to pay again for the state. Anybody had any experience? I want to do some end-of-year Roth planning as well. Yes - me! I bought the Deluxe plus one free state and free federal efile for five submissio...
by fourwheelcycle
Wed Nov 07, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 75
Views: 7148

Re: How much money did you receive from family? (Gifts/inheritance)

My wife and I were fortunate that our parents were able to pay for our full college expenses. We met in graduate school, where we each received full scholarships and stipends that covered our living expenses. We have not received any inheritances or other gifts to date. We expect to receive a few hu...
by fourwheelcycle
Tue Nov 06, 2018 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 15188

Re: How much money are you leaving your kids after you die?

I wanted to leave half to our children and half to charity. My wife wanted to leave everything to our children. We ultimately agreed to leave 75% to our children and 25% to charity. Just wanted to say how impressed I am that you and your wife were able to agree to split the difference, so to speak....
by fourwheelcycle
Tue Nov 06, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 15188

Re: How much money are you leaving your kids after you die?

I wanted to leave half to our children and half to charity. My wife wanted to leave everything to our children. We ultimately agreed to leave 75% to our children and 25% to charity.
by fourwheelcycle
Tue Nov 06, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Do I need more than Original Medicare?
Replies: 110
Views: 6383

Re: Do I need more than Original Medicare?

Are you aware of penalty for not signing up for Medicare Part D now? Medicare D has open enrollment each year, but you'll pay for the delay for the rest of your life. Medicare Part D Late Enrollment Penalty Interesting to note that many people are upset by the tax penalty if uninsured eligibles do ...
by fourwheelcycle
Tue Nov 06, 2018 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Income in retirement?
Replies: 14
Views: 1998

Re: Income in retirement?

Another boring BH response - we are about age 70 and all of our savings are in total stock market and intermediate bond market index funds, with the ratio set to suit our risk tolerance. Before we retired we had all of our taxable dividend distributions set to reinvest and we paid the taxes out of o...
by fourwheelcycle
Mon Nov 05, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: One Trust or Two Trusts?
Replies: 3
Views: 420

Re: One Trust or Two Trusts?

Here's some advice from a complete novice - undoubtedly legally correct and very valuable! My wife and I have one joint revocable trust (JRT). When the first spouse dies NOTHING happens, as far as I know. The second spouse simply continues as the sole remaining trustee of the trust and does whatever...
by fourwheelcycle
Sun Nov 04, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 8120

Re: Teaching kids there is an ample amount of money

We live in a pretty nice neighborhood - not the nicest in town but definitely OK. Once, when everyone on our street had young kids, our neighbor's son was invited over to play at the house of a friend who lived in the biggest house in the most expensive neighborhood in our town. The house had/has a ...
by fourwheelcycle
Sun Nov 04, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Tax software: online vs download versions
Replies: 15
Views: 1829

Re: Tax software: online vs download versions

I'm not sure if my memory is correct, or if this concern still applies, but I once had to submit an amended federal income tax a year (or two?) after my initial online submission. When I asked Turbotax how to do it they said "You can't amend a previous year's tax submission with the current year onl...
by fourwheelcycle
Sun Nov 04, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Helping Mom after Dad died talking with financial institutions
Replies: 8
Views: 951

Re: Helping Mom after Dad died talking with financial institutions

I was POA and executor for my elderly aunt the last three years of her life. I found that a POA and a dime, or $1.50, would get me a cup of coffee as far as most financial institutions and insurance companies were concerned, unless I wanted to to spend several weeks and make trips to the bank for me...
by fourwheelcycle
Sat Nov 03, 2018 6:57 pm
Forum: Personal Consumer Issues
Topic: Good Non-Boring Boglehead Cars Under $30k
Replies: 247
Views: 17129

Re: Good Non-Boring Boglehead Cars Under $30k

I haven't read all the posts. Has someone else suggested a used BMW 2 series coupe, four cylinder turbo?
by fourwheelcycle
Sat Nov 03, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?
Replies: 53
Views: 2690

Re: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?

We subscribe to our local paper, NYT online, Washington Post online, and The Economist.
by fourwheelcycle
Fri Nov 02, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Can I have my SS deposited directly into a Vanguard MM fund?
Replies: 7
Views: 1207

Re: Can I have my SS deposited directly into a Vanguard MM fund?

We always had our paychecks deposited to our BoA account and then transferred what we didn't spend to our Vanguard account. Now that I am retired, with my wife receiving half of my SS benefit since she turned 66, and me receiving my full benefit since I turned 70, we have those checks deposited to o...
by fourwheelcycle
Sun Oct 28, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Is a 529 account a reasonable alternative to gifting money to children in a trust?
Replies: 2
Views: 476

Is a 529 account a reasonable alternative to gifting money to children in a trust?

A 529 account is intended as a tax-advantaged way to gift money to a child to fund their college education. A UGMA account is an alternative way to gift money to a child, but requires that the child be advised of the funds and given the opportunity to withdraw them at a certain age. If you want to c...