Search found 2053 matches

by NotWhoYouThink
Wed Nov 14, 2018 9:39 am
Forum: Personal Consumer Issues
Topic: Granddaughter needs $ help for university
Replies: 97
Views: 7076

Re: Granddaughter needs $ help for university

As mentioned by several others, what matters is the price she will have to pay for the degree, not the list price for the school. It doesn't matter whether the list price is $15K or $75K, it maters what her cost is. So you need to do some research to find out what her real cost is, and what that cos...
by NotWhoYouThink
Fri Nov 09, 2018 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14540

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

I think some of you are reading a lot into what could be a very innocent question. If my daughter asked, I'm quite sure it would be more out of curiosity than greed. I agree. I once asked how my parents were doing, wondering if they were okay, and the reaction was that they didn't have any excess t...
by NotWhoYouThink
Wed Nov 07, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 20
Views: 1373

Re: Trustee of inherited business

As trustee, you have a responsibility to the beneficiaries to work to ensure the business succeeds. Letting it run on autopilot because you don't want to run a business or confront your brother isn't quite meeting that standard of duty. A business can't just run with two co-managers and no CEO. Noth...
by NotWhoYouThink
Wed Nov 07, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 46
Views: 4381

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

As a companion to the thread on leaving money to children, I thought it might be interesting to flip this around and discuss how much we received, at what age, and what impact it had on us. I note that many people are nervous about leaving large sums to their children. I wonder if there are negativ...
by NotWhoYouThink
Tue Nov 06, 2018 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14540

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

They'll get what we don't manage to spend. Our lifestyle probably won't change much, although a little spending creep if the markets are kind to us wouldn't be a bad thing. Our biggest gift to them will be our ability to support ourselves with no need for them to budget for our care. Our second grea...
by NotWhoYouThink
Tue Nov 06, 2018 9:26 am
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7345

Re: Do people calculate savings rate on gross income?

I thought everyone here calculated savings as a percent of Adjusted Livesoft Income, just to keep things simple.

viewtopic.php?t=156155
by NotWhoYouThink
Tue Nov 06, 2018 9:23 am
Forum: Investing - Help with Personal Investments
Topic: Need to liquidate $250K of investments
Replies: 5
Views: 929

Re: Need to liquidate $250K of investments

Quite a bit of that entry fee may qualify as a medical expense, so it's possible that there will not be any tax hit from selling the securities. Talk to the staff at the facility she is entering about how much of the up front payment is deductible as a medical expense. Can you expand on this? I'm a...
by NotWhoYouThink
Tue Nov 06, 2018 7:47 am
Forum: Investing - Help with Personal Investments
Topic: Need to liquidate $250K of investments
Replies: 5
Views: 929

Re: Need to liquidate $250K of investments

Quite a bit of that entry fee may qualify as a medical expense, so it's possible that there will not be any tax hit from selling the securities. Talk to the staff at the facility she is entering about how much of the up front payment is deductible as a medical expense.
by NotWhoYouThink
Mon Nov 05, 2018 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7954

Re: Teaching kids there is an ample amount of money

My message to kids is that you are destitute unless you develop the abilities and work capacity to do something that other people are willing to trade their money for. No one owes you anything. You have no right to anything. But if you develop the right skills and work ethic, you can take care of y...
by NotWhoYouThink
Sat Nov 03, 2018 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: My Grandmother has 80% stocks
Replies: 55
Views: 5234

Re: My Grandmother has 80% stocks

...84 year olds are not traveling the world or buying new cars so doubtful she is going to outlive her money. Good luck. A few on this board might disagree with you. :x Gill Oops, forgot to tell my mom to turn in her passport and quit buying cars at 80. But she had a heck of a time not knowing that...
by NotWhoYouThink
Tue Oct 30, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should I co-sign for relative?
Replies: 103
Views: 4924

Re: Should I co-sign for relative?

The financing company has important information about your relative that you don't have. Your relative does not handle financial commitments the same way you do.
by NotWhoYouThink
Mon Oct 29, 2018 6:27 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7832
Views: 1607568

Re: U.S. stocks in freefall

Looks like my scheduled January rebalancing might not rebalance much.
by NotWhoYouThink
Thu Oct 25, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Advise on term vs whole life
Replies: 31
Views: 2233

Re: Advise on term vs whole life

Either way I need at least 30 yrs of coverage and at the end of one I'll have money I can cash out once my needs change while the money on term is gone. I don't get it. If you buy term and invest the difference, then after 30 years you still have all the money you invested, and it's not tied up in ...
by NotWhoYouThink
Thu Oct 25, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Question about the 4% rule
Replies: 27
Views: 2425

Re: Question about the 4% rule

Based on the way the question was posed, does it assume that one is expecting a portfolio return of 7% minus 3% expected inflation so that an individual could "safely" withdraw 4% from their portfolio amount each year and live off interest (never reducing the initial principal)? Part of retiredjg's ...
by NotWhoYouThink
Tue Oct 23, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Advise on term vs whole life
Replies: 31
Views: 2233

Re: Advise on term vs whole life

As a potential buyer, the fact that the agent will get a big commission is not really a deterrent to me. If the product is a good one for me , and the agent is a friend, why wouldn't I want him to get a big commission? Everybody has to make a living. Every business has to make a profit or it will fa...
by NotWhoYouThink
Mon Oct 22, 2018 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo - Premier Banking, relationship managers - good or bad?
Replies: 6
Views: 485

Re: Wells Fargo - Premier Banking, relationship managers - good or bad?

They think you have money that they would like to have some of, so they will try to sell you more services. It's their business model - once they establish an initial relationship with you (banking, in your case) they want to expand the relationship and sell you more products. Every encounter with t...
by NotWhoYouThink
Sat Oct 20, 2018 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Received strange letter from IRS
Replies: 14
Views: 2799

Re: Received strange letter from IRS

Anything they have sent me has had specific information on what they took exception to, even though it took some work to understand their issue. Odd that they would keep it this vague. Maybe it's to scare you for Halloween.
by NotWhoYouThink
Sat Oct 20, 2018 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Do Any Annuities Offer a "Free Lunch"?
Replies: 21
Views: 1957

Re: Do Any Annuities Offer a "Free Lunch"?

Many free Three Martini Lunches for the salesman.
by NotWhoYouThink
Fri Oct 19, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6917

Re: Depositing Cash if it was gifted?

Suggesting she hold onto it for herself is good advice, if you don't know her financial affairs. Are you referring to her depositing her own money in stages??? Yes, that is a federal crime. First of all, just make the deposit. I have had to shift over 10,000 between accounts a couple of times, so I...
by NotWhoYouThink
Fri Oct 19, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6917

Re: Depositing Cash if it was gifted?

A one-time deposit of obviously old currency is not going to raise any red flags, and will probably bring some smiles. The people at the bank have seen this before. As Gill has helpfully pointed out multiple times, the thing that will get you in trouble is trying to avoid required government reports...
by NotWhoYouThink
Thu Oct 18, 2018 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: College loan advice?
Replies: 39
Views: 2860

Re: College loan advice?

Ok then, if you told her before she accepted her admission to this school that she would have to take out Stafford loans after freshman year, and now you are asking her to take out Stafford loans, nothing has changed except that you are wondering whether you should. As I said above, it probably does...
by NotWhoYouThink
Thu Oct 18, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Helping out with early onset Alzheimer's
Replies: 15
Views: 1782

Re: Helping out with early onset Alzheimer's

I wouldn't incur a tax bill to pay off the mortgage. The house will probably need to be sold before long, unless a family member is willing to move in and become primary caregiver. Even then, paying off the house reduces liquidity which might become a problem. The family should talk to an elder care...
by NotWhoYouThink
Tue Oct 16, 2018 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: "MegaMillions and Powerball jackpots combined are now $1B" - Good investment?
Replies: 55
Views: 2931

Re: "MegaMillions and Powerball jackpots combined are now $1B" - Good investment?

Yes, please do. The more you spend on lottery tickets the more funding goes to the states selling the tickets.
by NotWhoYouThink
Tue Oct 16, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Placing mother in nursing home - advice
Replies: 37
Views: 3884

Re: Placing mother in nursing home - advice

The related question -- and I have no idea what the answer is -- whether or not that by selling the house and having the money to pay at least part of the initial year's cost in a facility, you have the option of getting mom into a "better" place as opposed to starting with a medicaid payment. You ...
by NotWhoYouThink
Mon Oct 15, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Kids not interested in money / allowance
Replies: 50
Views: 5056

Re: Kids not interested in money / allowance

My mother collects thimbles and napkin rings. I don't use either. If she gave me one every month I wouldn't be very interested in it. Even if she told me the history and international cultural depictions of thimbles and napkin rings. If your kids don't have any use for money because all their needs ...
by NotWhoYouThink
Mon Oct 15, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Kids and Money
Replies: 38
Views: 1875

Re: Kids and Money

First, assume that anything you tell your kids about family finances will be repeated to their friends. Even if you carefully and seriously explain about family secrets. (Same goes for Uncle Fred's affairs and Aunt Tillie's drinking. If you don't believe kids gossip at school, ask any teacher.) Anyw...
by NotWhoYouThink
Mon Oct 15, 2018 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 5081

Re: Is it worth filing FAFSA even if you know you'll get nothing?

"Is it worth it" is not something any of us can answer for you. You have to do the research yourself. In my case, no it was not. No schools my kids applied to required it even for consideration of merit scholarships, and no schools required it freshman year in order to qualify for aid in later years...
by NotWhoYouThink
Mon Oct 15, 2018 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 5081

Re: Is it worth filing FAFSA even if you know you'll get nothing?

I've got a couple of kids doing applications for college. I've done the online calculators that the colleges offer to see what if any aid they'll give. Each calculator says I'll get nothing. Is it still worth it for me to file FAFSA for each child even though I won't get any aid? Is there another b...
by NotWhoYouThink
Fri Oct 12, 2018 9:24 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 36333

Re: free dinner investing seminar

Gus wrote:
Fri Oct 12, 2018 8:45 am
Any tips on how to get invited to these seminars? I just turned 50 this year. Is it just a matter of time now?
Living in the right zip code probably helps.
by NotWhoYouThink
Thu Oct 11, 2018 5:06 pm
Forum: Investing - Help with Personal Investments
Topic: What did you buy today
Replies: 111
Views: 8386

Re: What did you buy today

Pumpkins.

Will be buying dinner for 6 in a HCOL city tomorrow no matter what the market does.

Won't make any transactions in the brokerage/retirement accounts until January as scheduled.
by NotWhoYouThink
Thu Oct 11, 2018 5:02 pm
Forum: Personal Consumer Issues
Topic: What would you do with some bulk silver?
Replies: 41
Views: 2560

Re: What would you do with some bulk silver?

If he wants you to keep it and treasure it forever and pass it on to your kids so that they can do the same, that falls under the category of "hoarding by proxy" and you should hand it back to him. If he is ok with selling it, but just can't muster the energy to get it done, then you can thank him f...
by NotWhoYouThink
Wed Oct 10, 2018 8:20 am
Forum: Personal Finance (Not Investing)
Topic: College loan advice?
Replies: 39
Views: 2860

Re: College loan advice?

Agree with above observations that students can only get federal loans (5500/5500/6500/7500) without co-signers. Unless there is demonstrated family financial need and Perkins loans become an option, but OP indicates that is not the case here. Probably having students take out a loan or not makes mo...
by NotWhoYouThink
Thu Oct 04, 2018 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11957

Re: Sold Home - 2 days after buyer claims they found an issue with A/C

buyer has threatened to take us to civil court
Threats are easy. Taking you to court is hard. If you receive a summons, respond to it. Until then, ignore.

* IANAL, but I did read https://www.reddit.com/r/legaladvice/ last night.
by NotWhoYouThink
Tue Oct 02, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Adult kids getting help from parents
Replies: 36
Views: 2284

Re: Adult kids getting help from parents

No financial help from either set of parents. Mine would sometimes pay for meals and hotels when we visited them, although they never offered to pay for our vacations that didn't involve them. In laws were always strictly split-the-check people. With us, anyway, one BIL asked for and got help, with ...
by NotWhoYouThink
Tue Oct 02, 2018 6:53 am
Forum: Investing - Theory, News & General
Topic: Enjoying your money before retirement
Replies: 65
Views: 6342

Re: Enjoying your money before retirement

Early in our career we saved 14% for retirement and 6% in taxable to pay college tuition. Then we upped our savings rate a little as our income rose. And we didn't exactly pay for college with the 6%, but we could have. Anyway, save 15-20% for retirement. And save more if you can for college or othe...
by NotWhoYouThink
Mon Oct 01, 2018 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Cancer patient - Estate planning for minor beneficiary
Replies: 14
Views: 1514

Re: Cancer patient - Estate planning for minor beneficiary

OP, how much money are you talking about? $50K? $5M? If anyone but the mother of your child serves as trustee, there will be a fee involved. Each and every year for the duration of the trust. If you are talking about a 7 or 8 figure amount, then sure, you need a corporate trustee, and the costs will...
by NotWhoYouThink
Thu Sep 27, 2018 6:56 am
Forum: Investing - Help with Personal Investments
Topic: Max % from non-spousal inherited IRA?
Replies: 17
Views: 904

Re: Max % from non-spousal inherited IRA?

The IRS did not make up the rules for the benefit of the beneficiary. This is not a customer service model. This is a tax model. The goal of the IRS is to collect taxes. If you withdraw all the money at once, you get taxed at a higher rate. You're required to start RMDs right away, and you choose w...
by NotWhoYouThink
Tue Sep 25, 2018 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to direct spouse to use life insurance proceeds if I die first?
Replies: 15
Views: 1066

Re: How to direct spouse to use life insurance proceeds if I die first?

A target date or life cycle fund might make more sense than a particular AA if he really doesn't care to manage the money closely. I sort of understand the sentiment of the people who say it's his money he gets to do what he wants, but they seem to be ignoring the fact that you know him better than ...
by NotWhoYouThink
Fri Sep 21, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: What is the process for Trustee to sell house?
Replies: 11
Views: 733

Re: What is the process for Trustee to sell house?

Was the house in the trust before the grantor's death, or did the grantor's estate plan have the house going to the trust after his death? Recently in my family, there was a beneficiary deed that put the house into the trust after the grantor's death. So step 1 was notifying the county of the death ...
by NotWhoYouThink
Thu Sep 20, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Should I bother meeting with a Chase Private Client Rep
Replies: 56
Views: 4970

Re: Should I bother meeting with a Chase Private Client Rep

I understand the people here saying these guys are out to sell products, and I agree 100%. My understanding however is that CPC is actually just a type of banking/brokerage account in which you keep a certain amount of assets at Chase (any type of asset including Vanguard ETFs) and in exchange you ...
by NotWhoYouThink
Wed Sep 19, 2018 5:51 pm
Forum: Investing - Theory, News & General
Topic: Convince a friend to go Boglehead
Replies: 17
Views: 1056

Re: Convince a friend to go Boglehead

There is no chore so simple it can't be botched utterly and completely. Have you considered that if he takes over his finances he might make some huge mistakes that cost him a bundle? And blame you? Really, I like that you are making suggestions to him that you think would have been helpful to you -...
by NotWhoYouThink
Tue Sep 18, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: "Taking" RMDs
Replies: 18
Views: 1755

Re: "Taking" RMDs

For an inherited IRA, I have set up automatic RMD so that Vanguard sells proportionately from the equity and bond fund in the account, withholds federal tax, and sends funds to our checking account. My tentative plan is to have enough moved from traditional to Roth IRAs in retirement that we'll use ...
by NotWhoYouThink
Mon Sep 17, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life vs Universal Life Insurance
Replies: 30
Views: 1771

Re: Whole Life vs Universal Life Insurance

Good decision to stick with term. When you are ready, you can start asking questions about how to invest the money you are not spending on insurance.
by NotWhoYouThink
Mon Sep 17, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life vs Universal Life Insurance
Replies: 30
Views: 1771

Re: Whole Life vs Universal Life Insurance

Congratulations! You are successful enough to attract the attention of life insurance salesmen. That really is a positive accomplishment, You'll be even better off once you educate yourself about insurance and investments enough to know that you should keep the two separate. As several people have m...
by NotWhoYouThink
Sun Sep 16, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to get financially ready for death of parent
Replies: 22
Views: 2655

Re: How to get financially ready for death of parent

You would not inherit your mother's debts, but that doesn't mean the obligations would go away if she died owing money. It just means that the house and car might have to be sold to pay off the debt, or as much of it as possible. If the house were under water it would depend on your state laws, but ...
by NotWhoYouThink
Sat Sep 15, 2018 9:37 am
Forum: Investing - Help with Personal Investments
Topic: Dividend Riddle
Replies: 17
Views: 1740

Re: Dividend Riddle

Are you trying to reverse engineer someone's net worth based on tax documents?
by NotWhoYouThink
Fri Sep 14, 2018 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Living trusts and relabeling accounts
Replies: 33
Views: 2524

Re: Living trusts and relabeling accounts

You should talk to the attorney about what the trust is doing for you, and about what accounts and assets should be retitled. Bring a list, and talk about whether and how to retitle each asset. That should be a standard part of the service for creating the estate plan. We were able to do the actual ...
by NotWhoYouThink
Fri Sep 14, 2018 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: 3 fund vs EJ
Replies: 16
Views: 1051

Re: 3 fund vs EJ

First, it helps if you put the name of the fund and not just the ticker symbols, which most of us have not memorized. Also if you indicate what kind of asset allocation or tilts are in the current portfolio. How long has he been with EJ? Did he put $100,000 in the portfolio in 2001 and nothing since...