Search found 836 matches

by fourwheelcycle
Mon May 25, 2020 5:59 am
Forum: Personal Investments
Topic: Vanguard Total Bond vs Intermediate Tax Exempt
Replies: 10
Views: 1075

Re: Vanguard Total Bond vs Intermediate Tax Exempt

IT Tax Exempt yield may be up because some people think state and local Covid response expenses, plus decreases in tax revenue due to Covid impact, may result in defaults. However, the Fed has said they will help states and locals to avoid defaults https://www.gsam.com/content/gsam/us/en/individual/...
by fourwheelcycle
Thu Apr 30, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as Trustee of Estate Trust
Replies: 99
Views: 5503

Re: Vanguard as Trustee of Estate Trust

Ha Ha, very funny beginning to your post. First, my wife and I are now in our early 70s and our sons are in their late thirties, with families of their own. My guess is that your understatement will turn out to be just that, and both you and your wife will outlive the age 35 final payouts provided i...
by fourwheelcycle
Tue Apr 28, 2020 3:52 pm
Forum: Personal Consumer Issues
Topic: ccrc after virus lockdown
Replies: 13
Views: 1788

Re: ccrc after virus lockdown

This is a tangent, but I did want to make one comment on this remark "who would arrange for our health care as we approach the end of our life" ... [comment] ... Which is all a long way of saying that while I understand the benefits of a CCRC .... I don't personally see how moving to a CCRC changes...
by fourwheelcycle
Mon Apr 27, 2020 2:46 pm
Forum: Personal Consumer Issues
Topic: ccrc after virus lockdown
Replies: 13
Views: 1788

Re: ccrc after virus lockdown

This is a very tough issue. My wife and I are on the waiting list for our local CCRC. Our concerns about whether or not to move-in three or four years from now are (1) if our local CCRC gets an outbreak of the virus and begins to look like a no-exit cruise ship we might be glad not to be there, and ...
by fourwheelcycle
Sun Apr 26, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Visa - Authorized User vs Joint Owner for Spouse?
Replies: 5
Views: 700

Re: Fidelity Visa - Authorized User vs Joint Owner for Spouse?

Do you or your wife know what her credit score is? Is it a good score? If you suddenly die your wife will definitely have to apply for a new Fidelity Visa card based on her own finances and credit score. If she has several other credit cards in her own name, or joint with you, she may have a fine cr...
by fourwheelcycle
Wed Apr 15, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13464

Re: How many paid for kids' college?

We paid for both of our children's college expenses. However, one of our children cut our cost in half by receiving a 50% merit-based scholarship. Our own parents were able to pay for our college expenses, but they told us in advance they would not pay for any grad school expenses. We ended up getti...
by fourwheelcycle
Tue Apr 14, 2020 10:57 am
Forum: Personal Finance (Not Investing)
Topic: How did your spending change when your kids left the house?
Replies: 41
Views: 2891

Re: How did your spending change when your kids left the house?

I am extremely fortunate for what my parents provided me (great schools, no student loans), but once I graduated ... the most cash I've received from them is a $100 check on my birthday. Yes, that is about how much my wife and I received from our parents. However, our parents came of age during the...
by fourwheelcycle
Tue Apr 14, 2020 8:00 am
Forum: Personal Finance (Not Investing)
Topic: How did your spending change when your kids left the house?
Replies: 41
Views: 2891

Re: How did your spending change when your kids left the house?

Spending increases: Failure to thrive ...Failure to launch...Safety net failures...career changes...Grandchildren (baby supplies), etc. . . Sandtrap is absolutely correct. I was going to comment that when kids leave you can subtract all of your budget items for college savings and expenses then add...
by fourwheelcycle
Sat Apr 11, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you login and review your investment accounts?
Replies: 68
Views: 2403

Re: How often do you login and review your investment accounts?

I check more frequently when I am logging new highs than when I am logging new lows.
by fourwheelcycle
Wed Apr 08, 2020 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Beneficiary Change - What Financial/Legal Firms say about who is the Donor
Replies: 28
Views: 1489

Re: 529 Beneficiary Change - What Financial/Legal Firms say about who is the Donor

I funded a 529 in March, 2020. My grandchild will be born in August, so in March I named my son, the grandchild's father, as the beneficiary. It is a Vanguard Nevada 529. Vanguard advised me I should just change the beneficiary to my new grandchild once I have an SS number, then fill out my 709 next...
by fourwheelcycle
Sat Apr 04, 2020 6:02 am
Forum: Personal Consumer Issues
Topic: What are you doing for haircuts due to coronavirus shutdown?
Replies: 254
Views: 20100

Re: What are you doing for haircuts due to coronavirus shutdown?

I have cut my hair myself for the past twelve years or so, using a good Andis clipper. My wife trims the back of my neck. I don't do it to save money; I just never really liked how a barber or salon cutter did it and I also never liked having to spend an hour and a half driving, waiting, and then ge...
by fourwheelcycle
Fri Apr 03, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Lifespan assumptions and personal finance
Replies: 31
Views: 1793

Re: Lifespan assumptions and personal finance

I tend to agree with the filter or culling the herd perspective - on average, the survivors (even if they do not include me) are likely to have longer life spans. In any event, like the stock market, no one can predict their own life expectancy. Everyone should project their retirement finances out ...
by fourwheelcycle
Thu Apr 02, 2020 6:02 am
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?

We are definitely doing all of our planned QCDs this year. My main charity is a regional senior center that suddenly has greatly increased expenses to support seniors in their homes since they can no longer come out for congregate meals in their local communities; to help them ASAP I moved up my QCD...
by fourwheelcycle
Wed Apr 01, 2020 1:24 pm
Forum: Investing - Theory, News & General
Topic: Asset allocation strategies for accumulators
Replies: 36
Views: 2165

Re: Asset allocation strategies for accumulators

.... 100% in stocks until your savings equal the amount of savings you plan to accumulate in the future. At that point, everything else you accumulate, put it in bonds. ..... How about the opposite approach - everything in a selected ratio like 70/30 until you reach a conservative retirement level,...
by fourwheelcycle
Wed Apr 01, 2020 12:22 pm
Forum: Investing - Theory, News & General
Topic: DJIA Daily Volume? Who is trading?
Replies: 2
Views: 298

DJIA Daily Volume? Who is trading?

If most investors are sitting tight during the downturn, I am wondering who is trading to drive the market up and down each day. I thought perhaps daily trading volume on the DJIA might be down compared to periods before the drop, but I cannot find any charts for DJIA daily volume over specified per...
by fourwheelcycle
Wed Apr 01, 2020 9:56 am
Forum: Personal Finance (Not Investing)
Topic: How to Transfer 529 Beneficiary to Grandchild without needing to file Gift Tax Return?
Replies: 10
Views: 777

Re: How to Transfer 529 Beneficiary to Grandchild without needing to file Gift Tax Return?

..... The benefit of the last two options is that 529 account owned by a parent/student can be used first where the assets are only assessed at 6.64%. Because FAFSA now uses the prior prior year, a 529 account owned by a grandparent can be used any time after 1/1 of the third to last year without i...
by fourwheelcycle
Tue Mar 31, 2020 6:29 am
Forum: Personal Investments
Topic: Already Made a QCD?
Replies: 16
Views: 1035

Re: Already Made a QCD?

My wife and I are making all of our intended QCDs this year, but not a penny extra for RMDs. Every dollar of RMDs will be fully taxable, no matter how much we have withdrawn for QCDs. Worse yet, in this down market every dollar of RMDs will require us to sell bonds. Our portfolio was 80/20 before th...
by fourwheelcycle
Sun Mar 29, 2020 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: High school money topics
Replies: 23
Views: 1168

Re: High school money topics

Unless I missed it in the posts above, no one has pointed out the irony of a parent asking BH's how to get their daughter interested in college and life finance issues when many BH's, including me, comment they cannot get their own spouses interested in finance issues. Having said this, I will also ...
by fourwheelcycle
Sun Mar 29, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pros/Cons on Retiring to Florida Gulf Coast & Recommended Areas Input Please
Replies: 16
Views: 1185

Re: Pros/Cons on Retiring to Florida Gulf Coast & Recommended Areas Input Please

We have condo-vacationed for a week each spring on the beach at Anna Maria Island since our children were young, and now with our adult children and our grandchildren. Now that we are older we aim for the northern end of the island where we can do a long, quiet bicycle ride each day. We love the get...
by fourwheelcycle
Sun Mar 29, 2020 7:10 am
Forum: Personal Consumer Issues
Topic: What will you do first, once COVID pandemic is over?
Replies: 271
Views: 17132

Re: What will you do first, once COVID pandemic is over?

I never bet on the end of the world because what good is it to win that bet. I agree, and I don't think you would win that bet anyway. This will pass, perhaps sooner if the current form of the virus dies down or out, or later if, ultimately, we develop an effective vaccine. Nevertheless, it is conc...
by fourwheelcycle
Sat Mar 28, 2020 8:05 pm
Forum: Personal Consumer Issues
Topic: What will you do first, once COVID pandemic is over?
Replies: 271
Views: 17132

Re: What will you do first, once COVID pandemic is over?

Be prepared for a long haul - the pandemic may not be over until a vaccine is available, perhaps in fall, 2021. If it is over by mid-summer I look forward to visiting our children and grandchildren, and to a few New England vacations later this summer and fall. We have already cancelled a condo in F...
by fourwheelcycle
Thu Mar 26, 2020 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Two Trusts in one joint investment account?
Replies: 14
Views: 637

Re: Two Trusts in one joint investment account?

I assume GeorgiaPapa and Momma have particular reasons to prefer individual revocable trusts (edit - I just saw the post above, so I understand). My wife and I used to have individual revocable trusts, each with their own account at Vanguard. At some point we decided it was too much hassle to manage...
by fourwheelcycle
Wed Mar 25, 2020 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Splitting Question-Which Account to Use?
Replies: 7
Views: 390

Re: Gift Splitting Question-Which Account to Use?

I can see why the original post was deleted.

My wife and I make our gifts from our joint revocable trust account at Vanguard. If we are under $30K we do not file any Form 709s. If we are over $30K we file two Form 709s.
by fourwheelcycle
Tue Mar 24, 2020 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Is now the absolute worst time to do a rollover?
Replies: 20
Views: 1626

Re: Is now the absolute worst time to do a rollover?

The issue with rollovers is time out of market. Hedge any potential (upward, at least) market movement and it doesn't matter when you do the rollover. I have done rollovers before and I always worry about the week or so I am out of the market. How do you hedge the risk that the market may go up whi...
by fourwheelcycle
Sat Mar 21, 2020 6:52 am
Forum: Personal Consumer Issues
Topic: Large Flashlight?
Replies: 29
Views: 1706

Re: Large Flashlight?

I use the Streamlight lantern below for dog walking, personal walking, looking for things in my garage at night, woods walking, camping, and boating. It is a fantastic lantern. It will throw a beam at two levels - medium for any use around the house or walking at night and high to shine a light to t...
by fourwheelcycle
Thu Mar 19, 2020 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need supplemental LT DI insurance if I am already covered by work group plan?
Replies: 10
Views: 461

Re: Do I really need supplemental LT DI insurance if I am already covered by work group plan?

I know nothing about how to compare your actuarial risk to the coverage and premium your are considering. If you pay $250 per month for a potential $8,000 per month benefit, does that mean you believe there is a 3% chance you will become disabled (for more than a year) during every month, or any oth...
by fourwheelcycle
Sun Mar 15, 2020 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

The IRA has nothing to do with the estate (as I understand it). What if the executor is court appointed? Would they have any responsibility to look after IRAs? Actually, your IRA is part of your estate if you name a charity as your beneficiary. Amazingly, if you want to donate your IRA to a charity...
by fourwheelcycle
Sun Mar 15, 2020 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

Fidelity's Customer Account Agreement states: Unclaimed Property Your account balance and certain uncashed checks issued from your account may be transferred to a state unclaimed property administrator if no activity occurs in the account or the check remains outstanding within the time period speci...
by fourwheelcycle
Sun Mar 15, 2020 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

You should go back and add the EIN number. As a test, go to this link and type in the EIN number. I think the EIN numbers are unique, so your charity should be easy to find. https://apps.irs.gov/app/eos/allSearch.do?ein1=23-7248316&names=&resultsPerPage=25&indexOfFirstRow=0&dispatchMethod=searchAll&...
by fourwheelcycle
Sun Mar 15, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I convert to Roth given QCDs?
Replies: 14
Views: 542

Re: How much should I convert to Roth given QCDs?

I favor your plan. I never considered IRA to Roth conversions because our tax bracket was high and we knew we would be giving most of our RMDs to charity and leaving the rest to our children. We are currently in the process of setting up a Vanguard Endowed Grant Plan that will be funded from our IRA...
by fourwheelcycle
Fri Mar 13, 2020 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Scammed By Fake TurboTax Tech Support
Replies: 22
Views: 1994

Re: Smelling a Rat with TurboTax Tech Support

I did give them remote access to my computer while they pretended to troubleshoot for about ten minutes. I wonder if I have anything to worry about regarding that. OK - Embarrassing admission here. The same thing happened to me when I bought our first Echo Dot. I went on my computer and Googled "Ho...
by fourwheelcycle
Wed Mar 11, 2020 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Question about selling a trust asset (condo) to a trust beneficiary
Replies: 31
Views: 777

Re: Question about selling an estate asset (condo) to a beneficiary

Revocable trusts become irrevocable after the grantor's death. Always. When my wife and I die our two adult children will be in the same situation. Our revocable trust says for the successor trustee, one of our children, to distribute everything in equal shares to themself and their sibling. It say...
by fourwheelcycle
Tue Mar 10, 2020 7:50 pm
Forum: Personal Consumer Issues
Topic: What is the best concert you ever witnessed?
Replies: 385
Views: 27376

Re: What is the best concert you ever witnessed?

Jefferson Airplane - February, 1967 - live at my small college - free for students! Also, not a concert, but I was once in an airport sitting next to a guy who was obviously traveling with his band. We started talking and I finally asked the name of his band to see if I might know them. He said "Taj...
by fourwheelcycle
Thu Mar 05, 2020 8:20 am
Forum: Personal Consumer Issues
Topic: TV recommendations?
Replies: 37
Views: 2421

Re: TV recommendations?

.... my 2 plasma TVs are 12 years old and I am planning to replace them, however the choices seem to be daunting (LED,LCD, OLED, QLED etc) and I am woefully un-informed about the new tech in TVs. Same boat as you except only one 12 year old 42" Pioneer plasma TV. Visiting adult children said we wer...
by fourwheelcycle
Wed Mar 04, 2020 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Is "buy in" to a CCRC deductible as a medical expense?
Replies: 57
Views: 2721

Re: Is "buy in" to a CCRC deductible as a medical expense?

When my mother was in an ALF I prepared her returns deducting essentially all of her ALF expenses. This was after receiving guidance from the facility that this was allowed by the code if the primary purpose of her living there was to receive the required medical care. Plus of course meeting the 2/...
by fourwheelcycle
Tue Mar 03, 2020 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Making public vs. private high school decision
Replies: 59
Views: 3329

Re: Making public vs. private high school decision

[Our] sons both went to our (good) public school. They both did well ..... They each rose to their own level ..... They are both doing well, are happily married, and we have two grandchildren. Things have a way of working out. This is a very telling post - and very true. Life is more about the stud...
by fourwheelcycle
Tue Mar 03, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Making public vs. private high school decision
Replies: 59
Views: 3329

Re: Making public vs. private high school decision

I really can't think of a good reason to consider a private school if you have a 10/10 public school available. Why is your daughter leaning 60/40 toward the private school? Is she concerned that a private school is necessary to help with college admission? Pick a few colleges she may have in mind a...
by fourwheelcycle
Tue Mar 03, 2020 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Is "buy in" to a CCRC deductible as a medical expense?
Replies: 57
Views: 2721

Re: Is "buy in" to a CCRC deductible as a medical expense?

Do those numbers {deductible medical expenses] remain constant as a person moves from independent living to assisted living to skilled nursing? bayview wrote: WRT whether the deductible (medical) figure goes up when moving through the system, our mother's assisted living expenses are 100% deductibl...
by fourwheelcycle
Tue Mar 03, 2020 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Is "buy in" to a CCRC deductible as a medical expense?
Replies: 57
Views: 2721

Re: Is "buy in" to a CCRC deductible as a medical expense?

If I understand correctly, just using purely hypothetical numbers, if the entrance fee was $600K, then the portion of $210K that exceeds 7.5% of AGI would be deductible on schedule A. Is that correct? Yes, that's correct. Thirty-five percent just happened to be the percentage I calculated for the e...
by fourwheelcycle
Mon Mar 02, 2020 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Is "buy in" to a CCRC deductible as a medical expense?
Replies: 57
Views: 2721

Re: Is "buy in" to a CCRC deductible as a medical expense?

But if necessary, and it's all in one year due to timing issues, and if the total deductible amount exceeds taxable income (adjusted per above, etc.), can any "extra" be carried over to the next tax year? I think eligible medical expenses must be deducted for the tax year they were incurred, so if ...
by fourwheelcycle
Mon Mar 02, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Is "buy in" to a CCRC deductible as a medical expense?
Replies: 57
Views: 2721

Re: Is "buy in" to a CCRC deductible as a medical expense?

In my experience, every CCRC sends out a letter before tax time each year which states the dollar amount of previous year entrance fees and monthly fees which are tax deductible as a medical expense. For our local CCRC the entrance fee dollar amount for 2019 was about 35% of the two person entrance ...
by fourwheelcycle
Mon Feb 24, 2020 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Retirement expenses vs pre-retirement expenses?
Replies: 28
Views: 2998

Re: Retirement expenses vs pre-retirement expenses?

scrabbler1 wrote:
Mon Feb 24, 2020 8:06 am
..... The first was the elimination of commutation expenses.
Legal fees can be expensive, but it is nice to be out of jail during retirement.
by fourwheelcycle
Mon Feb 24, 2020 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Retirement expenses vs pre-retirement expenses?
Replies: 28
Views: 2998

Re: Retirement expenses vs pre-retirement expenses?

I have been retired for twelve years and my wife is just retiring this year. Before retirement we each had health benefits from our employers. When I retired I went on my wife's plan and our health insurance costs increased significantly. This year we will both go on Medicare Part B for the first ti...
by fourwheelcycle
Fri Feb 21, 2020 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Any way to change Vanguard's account page format?
Replies: 8
Views: 876

Re: Any way to change Vanguard's account page format?

..... I also requested to opt-out of marketing pop-ups which the rep said they would do. I am not getting the VPAS pop-ups on the main page anymore. Right. I did not mention that I also started to get the VPAS pop-ups on my main account page at the same time my format changed. I sent a secure messa...
by fourwheelcycle
Fri Feb 21, 2020 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Any way to change Vanguard's account page format?
Replies: 8
Views: 876

Any way to change Vanguard's account page format?

I am a long time, very satisfied Vanguard client. I am usually one of the people who jumps into Vanguard complaint threads to say they are pretty good overall. However, here I am with a complaint and a question. My excellent Flagship rep recently changed jobs at Vanguard and now I have a new rep, al...
by fourwheelcycle
Thu Feb 20, 2020 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer MF to Vanguard?
Replies: 7
Views: 578

Re: Transfer MF to Vanguard?

If the Vanguard account somehow gets hacked, all of my funds in the account are potentially vulnerable whereas if I kept the MFs in separate account, each one would need to be hacked. This question comes up a lot on this forum. One perspective is that if you have your funds at four places you have ...
by fourwheelcycle
Sun Feb 16, 2020 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Tax underpayment penalty
Replies: 45
Views: 3339

Re: Tax underpayment penalty

I hate to visit our taxes four times a year to send in estimated payments. In fact, I have never done it. When I retired I assigned half of my pension to withholding, with the other half of our safe harbor amount coming from my still-working wife's withholding. Now my wife is retiring and I need to ...
by fourwheelcycle
Fri Feb 14, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Is money liquidated from inherited mutual funds reportable to IRS?
Replies: 12
Views: 1329

Re: Is money liquidated from inherited mutual funds reportable to IRS?

You’re right about informing beneficiaries. I always alerted beneficiaries to the tax consequences of a distribution. Gill I'm glad I was right about something! Thank you for advising me about K-1 reporting and residuary bequests. I had heard of both terms but I did not know what they meant. I appr...
by fourwheelcycle
Fri Feb 14, 2020 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Is money liquidated from inherited mutual funds reportable to IRS?
Replies: 12
Views: 1329

Re: Is money liquidated from inherited mutual funds reportable to IRS?

Gill wrote:
Fri Feb 14, 2020 9:01 am
A cash bequest of a fixed amount doesn’t carry out income. A residuary bequest usually does.
Gill
I had to look up residuary! My aunt's will left her remaining estate after all bills were paid to her four siblings, in equal shares, per stirpes.