Search found 1732 matches

by NotWhoYouThink
Wed May 23, 2018 4:40 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest $1.4 million inheritance?
Replies: 11
Views: 644

Re: How to invest $1.4 million inheritance?

I would invest it all now per my preferred asset allocation. Well, first I would set aside a little of it to do something fun with, but the rest I would invest tomorrow with no hesitation. But that's me. I like to make a decision and move on, and don't agonize if it later turns out that a slightly d...
by NotWhoYouThink
Wed May 23, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Co-beneficiary on a bank CD: all beneficiaries must be present?
Replies: 8
Views: 396

Re: Co-beneficiary on a bank CD: all beneficiaries must be present?

We've dealt with bank CDs by mail with notarized forms. The bank should allow that as a matter of course. Good luck.
by NotWhoYouThink
Wed May 23, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Additional Liability of Getting Married (Protecting Taxable accounts)
Replies: 7
Views: 500

Re: Additional Liability of Getting Married (Protecting Taxable accounts)

If you are worried about getting sued an umbrella policy is a good idea. If she is worried about you running off with her money, she can request a pre-nup. What liability are you worried about? I know families who have lost kids to cancer, drugs, and suicide. I know young parents who have died from ...
by NotWhoYouThink
Wed May 23, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo Advisors (WFA) Transfer On Death (TOD)
Replies: 25
Views: 1589

Re: Wells Fargo Advisors (WFA) Transfer On Death (TOD)

No, we had a terrible Advisor. He is a liar and a cheat and he put our relative into some terrible funds. He actively tried to prevent us from getting the MSG. But the beneficiaries were listed on the account, and he did what he was required to do. It did require the beneficiaries to cooperate and s...
by NotWhoYouThink
Wed May 23, 2018 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo Advisors (WFA) Transfer On Death (TOD)
Replies: 25
Views: 1589

Re: Wells Fargo Advisors Transfer On Death (TOD)

Our transfer from WF went very fast, because we did it in 2 steps. First, all the parties, who all lived in the same area, signed paperwork agreeing to the way the assets were split and mailed it in (there were some CDs and GNMA bonds that were difficult to split so they were allocated among the ben...
by NotWhoYouThink
Tue May 22, 2018 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Are there any experienced real-estate people here?
Replies: 38
Views: 3147

Re: Are there any experienced real-estate people here?

If it's worth $700K "give or take" then maybe you're optimistic and it will sell for $620K, or maybe you are too conservative and it will sell for $810K. You'll never know if the time and money put into minor upgrades are worth it, but they probably won't move the needle. If it's empty and the yard ...
by NotWhoYouThink
Mon May 21, 2018 12:03 pm
Forum: Investing - Help with Personal Investments
Topic: Can I transfer brokerage Acct without speaking to FA?
Replies: 20
Views: 1146

Re: Can I transfer brokerage Acct without speaking to FA?

It depends on what's in the account. If there are securities in the account that can't transfer to Vanguard, they will need to be sold by the current account manager. If you have so many different holdings that it would be significantly cheaper to sell them at Citi rather than transferring in-kind a...
by NotWhoYouThink
Mon May 21, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Buying a Vacation Rental Property as an Investment
Replies: 53
Views: 3864

Re: Buying a Vacation Rental Property as an Investment

Please do this if it is right on the beach, I'd love to pay an exorbitant price to rent it for a week once every 3-4 years. We promise to be good guests and not trash the place. But we will call if the wifi doesn't work or if the pool needs to be cleaned or if there are rats in the garage. After tal...
by NotWhoYouThink
Mon May 21, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Check Letter / Notice from IRS Online
Replies: 9
Views: 1267

Re: Check Letter / Notice from IRS Online

We regularly travel for a week or two. But we don't use Informed Delivery. I cannt imagine that anything from the IRS would have such a short deadline for response. I think my stress level would be lower without Informed Delivery, so I don't use it. This. They are not monsters, they are only govern...
by NotWhoYouThink
Sat May 19, 2018 4:00 pm
Forum: Personal Consumer Issues
Topic: Nephew graduating high school & joining military. Gift Ideas?
Replies: 29
Views: 1516

Re: Nephew graduating high school & joining military. Gift Ideas?

Cash, same thing I gave all my nieces and nephews, and the same thing my kids got from aunts, uncles and grandparents. The less "stuff" he has at this point in his life the better. Don't worry if he blows the cash, he's 18 years old and has plenty of time to be mature and responsible. Just hope he h...
by NotWhoYouThink
Sat May 19, 2018 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 95
Views: 6618

Re: Helping Adult Children (but not too much)

I would tell her she can have $X as a graduation gift to spend on what she needs when she needs it with no questions asked, then back off. That's what we did for both kids. Then we sat on our hands and bit our tongues and let them make their own decisions. Both eventually went to grad school, one a...
by NotWhoYouThink
Sat May 19, 2018 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Do we need a trust?
Replies: 16
Views: 2059

Re: Do we need a trust?

The purpose of a trust would be to protect at least some of our assets in the event some extraordinary event exhausted all of our assets I don't understand what you are going for here, can you explain? If you are talking about setting aside money for your kids to inherit even if you go broke and ne...
by NotWhoYouThink
Fri May 18, 2018 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Are there any experienced real-estate people here?
Replies: 38
Views: 3147

Re: Are there any experienced real-estate people here?

I've heard a few real estate agents say "no, leave it as-is and sell it" but as I looked further into it, I suspect that's because they wanted to invest the $20k for $50k back themselves and flip it. I can't be sure though and would like advice. It's going to take a lot more than $50K to flip this ...
by NotWhoYouThink
Wed May 16, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for future unbalanced income
Replies: 8
Views: 757

Re: Preparing for future unbalanced income

I second the recommendation to start here https://www.bogleheads.org/wiki/Getting_started, and also to check out the White Coat Investor site. But even before that, just get used to the fact of life that people with high earned income pay a lot of taxes. You can take advantage of 401k and HSA, but t...
by NotWhoYouThink
Wed May 16, 2018 9:52 am
Forum: Personal Consumer Issues
Topic: ?$ Bid for Upgrade to Business Class (per flight hour)
Replies: 15
Views: 1050

Re: ?$ Bid for Upgrade to Business Class (per flight hour)

5'4" and 6'3" here. I'm the short one, he's the cheap one. But I make the reservations. Just recently started springing for Early Bird Check-in on Southwest, the airline we fly most often. Comfort plus for other domestic flights over 2 hours. New rule is business class for any ocean crossing, but th...
by NotWhoYouThink
Tue May 15, 2018 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 7487

Re: Can a <median household save 1 year of expenses every year?

Yes, some households with less than median income can save a year of current expenses every year, as many above have described. But it is by no means a necessary condition to reach financial independence. We have been well above median all of our married life. During most of those years we spent mor...
by NotWhoYouThink
Tue May 15, 2018 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Am I working with the wrong realtor?
Replies: 22
Views: 2636

Re: Am I working with the wrong realtor?

You were asking your agent to do work with a low probability of paying off, and she didn't think it was worth her time. Back-up contracts are written all the time, but most of the time the buyers in the original contract do not back out so the back-up never gets signed by the sellers. The sellers ar...
by NotWhoYouThink
Sun May 13, 2018 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: Is Whole Life Insurance Worth It?
Replies: 54
Views: 3876

Re: Is Whole Life Insurance Worth It?

There is a little bit of a gamble involved in waiting to buy life insurance. If you buy too soon, you'll be paying for insurance you don't need. If you wait until your kids are on the way, you risk being diagnosed with a medical condition between now and then that makes term insurance unaffordable. ...
by NotWhoYouThink
Sun May 13, 2018 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Moving Assets into an Irrevocable Trust
Replies: 5
Views: 492

Re: Moving Assets into an Irrevocable Trust

Medicaid doesn't claw it back because Medicaid won't pay it in the first place. If you have gifted money in the last 5 years, you will have to pay that amount of money out of pocket before Medicaid starts paying. So if you don't have it any more I guess you go live with your kids. Realistically, we ...
by NotWhoYouThink
Sun May 13, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: setting up trust- possible sibling drama may ensue
Replies: 34
Views: 2867

Re: setting up trust- possible sibling drama may ensue

If he spends all his money on the best possible end of life care there might not be enough left in the estate for anyone to inherit anyway. Make sure any Medicaid planning trust discussions focus on providing him with the best care, first and foremost, with the amount remaining as a secondary consid...
by NotWhoYouThink
Sun May 13, 2018 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Ameriprise feedback needed
Replies: 9
Views: 793

Re: Ameriprise feedback needed

My boss had some advice about this. Before he made a decision you could lobby him to make it one way or the other. After he made the decision you were expected to shut up and live with it. Your parents are about to make a decision, so you can lobby away. I don't know them, but if the Ameriprise sale...
by NotWhoYouThink
Sun May 13, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Texas Medicaid - questions and Legal help
Replies: 12
Views: 816

Re: Texas Medicaid - questions and Legal help

The goal should be to secure the best possible care for the elders, with protecting the estate as a secondary consideration. Many of the better nursing homes will not accept new residents who will be on Medicaid, but will continue to care for residents that start out as self-pay for a year or two. T...
by NotWhoYouThink
Fri May 11, 2018 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Asked to be Executor - What questions to ask
Replies: 39
Views: 3387

Re: Asked to be Executor - What questions to ask

Even if you have access to the safe deposit prior to the owner's death, the bank may restrict your access to it once they are aware of the owner's death. I wouldn't leave anything in a bank safe deposit box that my heirs or executor would need prior to probate being filed. And I agree that the logon...
by NotWhoYouThink
Fri May 11, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust
Replies: 12
Views: 1061

Re: Revocable Living Trust

Often a trust is "amended" by deleting all of the text of the original trust and inserting a completely new document. That is a whole bunch cheaper than paying an attorney to review and modify the old trust, even if it's the attorney that drafted the old trust. They have studied and researched and v...
by NotWhoYouThink
Thu May 10, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust
Replies: 12
Views: 1061

Re: Revocable Living Trust

Would he be willing to give his kids copies of the trust documents?
by NotWhoYouThink
Thu May 10, 2018 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Investment Advice from Pension Fund Manager - Should I listen?
Replies: 39
Views: 1702

Re: Investment Advice from Pension Fund Manager - Should I listen?

No, you should not listen to anyone who claims to know where the markets are going. If Jack Bogle doesn't know, and doesn't know anyone who knows, and doesn't know anyone who knows anyone who knows, that what claim to insight does this guy have? You have decades of investing in front of you. Get in ...
by NotWhoYouThink
Thu May 10, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Liability or Comprehensive Insurance for $8K Book Value SUV
Replies: 14
Views: 611

Re: Liability or Comprehensive Insurance for $8K Book Value SUV

We don't carry anything but liability on anything worth less than 10K. I'd be ok on dropping insurance beyond liability on anything that was paid for, but you compromise in life. Repairing or replacing a car won't break us. When you agonize over the decision for one car, it's hard to be sure you're ...
by NotWhoYouThink
Thu May 10, 2018 2:47 pm
Forum: Personal Consumer Issues
Topic: How to remove garden hose nozzle that is stuck on a hose
Replies: 40
Views: 2862

Re: How to remove garden hose nozzle that is stuck on a hose

Sorry I was too late. Percussive maintenance works in many cases. Bang the nozzle/fitting against a rock. Sometimes a shock works better than torque. But a trip to the hardware store works too.
by NotWhoYouThink
Thu May 10, 2018 11:57 am
Forum: Investing - Help with Personal Investments
Topic: Charitable Investing
Replies: 7
Views: 471

Re: Charitable Investing

The best charitable investing for a young person is investing in your career. The more you make the more you can spend on donations, and the more rich people you meet and befriend the more people you can recruit to donate to your favorite cause. Really, that's how it works. Putting away a few hundre...
by NotWhoYouThink
Wed May 09, 2018 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Edward Jones to Index funds model
Replies: 18
Views: 1925

Re: Edward Jones to Index funds model

You need to decide more than "index funds model" before you move anything, or you could end up in the same predicament. Schwab, Fidelity, TD Ameritrade and Merrill Lynch will all be happy to charge you fees to manage your money. If you want to save, then you want a self-managed account rather than a...
by NotWhoYouThink
Wed May 09, 2018 7:35 am
Forum: Investing - Help with Personal Investments
Topic: Factors Suggesting One Should Buy SPIA
Replies: 90
Views: 6487

Re: Factors Suggesting One Should Buy SPIA

Many employers offer retirees the option of taking a lump sum instead of a pension. We're taking our pensions, but know people taking the lump sum. In one of those cases the reason is that the retiree has a degenerative disease and does not have a long life expectancy. Other cases we expect to turn ...
by NotWhoYouThink
Tue May 08, 2018 12:27 pm
Forum: Personal Consumer Issues
Topic: Do you know anyone unhappy in a CCRC?
Replies: 41
Views: 4518

Re: Do you know anyone unhappy in a CCRC?

I think my mother wishes she didn't need to be there, but that is not quite the same as regretting moving in. - There are cliques. There just are, even with all the staff does to try to encourage people to welcome newcomers and socialize with many different people. - Everyone there is old. All your ...
by NotWhoYouThink
Tue May 08, 2018 10:46 am
Forum: Investing - Help with Personal Investments
Topic: DRIP (Dividend Reinvestment Plan)
Replies: 21
Views: 1729

Re: DRIP (Dividend Reinvestment Plan)

DRIPs are appropriate for people with landline phones who write a lot of paper checks.
by NotWhoYouThink
Tue May 08, 2018 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Factors Suggesting One Should Buy SPIA
Replies: 90
Views: 6487

Re: Factors Suggesting One Should Buy SPIA

I mean, nobody’s going to put all their money into an spia, right? That's exactly what people with pensions have done. They put 100% into a (deferred immediate) annuity. Just because the annuity is run by a public company or a government instead of an insurance company doesn't make it not an annuit...
by NotWhoYouThink
Tue May 08, 2018 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit
Replies: 180
Views: 17342

Re: Signed Car Lease, Dealer calls later asking for a CO-SIGNER despite excellent credit

Thanks to the OP for raising this issue, because there are a lot of people who don't/didn't know that you can pay your money, sign a contract with the car dealer, and drive off the lot with your new car and still have the deal pulled back if the financing is not approved. This is probably a situatio...
by NotWhoYouThink
Mon May 07, 2018 5:06 pm
Forum: Investing - Help with Personal Investments
Topic: When did you start drawing profits from taxable?
Replies: 48
Views: 3237

Re: When did you start drawing profits from taxable?

We had 529s, but not quite enough for college (by design) so we used money from the after tax accounts to pay for college. But I thought of it as spending money for the purpose for which we had saved it, not "cashing in." Since most of our money was saved in tax deferred accounts we really didn't ha...
by NotWhoYouThink
Mon May 07, 2018 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: Helping my father-in-law with his 401K portfolio
Replies: 6
Views: 512

Re: Helping my father-in-law with his 401K portfolio

You might want to plug all those funds into a Morningstar portfolio visualizer to see what the asset allocation is now. Maybe they're all stock funds, I have no idea from the ticker symbols. Maybe it's a perfect AA for him. But the result of that work would be a starting point to talk to him about h...
by NotWhoYouThink
Mon May 07, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: What career for smartest kid in the class?
Replies: 132
Views: 7879

Re: What career for smartest kid in the class?

Good grades (smartest kid in class), IQ (straight up smart/intelligent) and success don't correlate. Do they? They correlate, but the correlation is not 100%. Once you get to some threshold, you are smart enough to have good grades, if that interests you, or to make piles of money, if that interest...
by NotWhoYouThink
Mon May 07, 2018 8:44 am
Forum: Investing - Theory, News & General
Topic: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!
Replies: 92
Views: 8237

Re: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!

Actually, this presents an opportunity for a passive aggressive investor with an OCD beneficiary. Leave that person the IRA with a small (1-5%) basis, knowing it will drive him crazy keeping track of it, but would drive him more crazy not doing it. So he can get irritated with you all over again eve...
by NotWhoYouThink
Sat May 05, 2018 6:44 pm
Forum: Personal Consumer Issues
Topic: One space or two ...
Replies: 18
Views: 1420

Re: One space or two ...

Two spaces for me, but you can use one if you like. But please use paragraphs on long posts.
by NotWhoYouThink
Fri May 04, 2018 9:54 am
Forum: Investing - Help with Personal Investments
Topic: Starting to Invest for 1yr old daughter
Replies: 19
Views: 2161

Re: Starting to Invest for 1yr old daughter

OP, what do you want her to do with the money? Pay for clothes and entertainment when she is in middle/high school? Buy a car at 16? Pay for college? Start a business after college? Start a business instead of college? Support her drug-addicted boyfriend and pay his bail? Pay off her drug dealer? Ho...
by NotWhoYouThink
Fri May 04, 2018 7:47 am
Forum: Investing - Theory, News & General
Topic: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!
Replies: 92
Views: 8237

Re: Don't leave your non-spouse heirs TIRAs with basis, unless you hate them!

Don't tell anyone, but the IRA DH inherited from FIL probably had about 1% of the value as basis, but I've ignored that the last 2 years on our taxes. As part of FIL's older tax files I've seen an 8606 showing some basis in the account. But the executor and CPA that handled the estate, and the broke...
by NotWhoYouThink
Thu May 03, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Receiving house after parents pass away - legal issues with siblings?
Replies: 35
Views: 3382

Re: Receiving house after parents pass away - legal issues with siblings?

Of all the current responses, this one piques my curiosity the most. Both questions are very relevant to the whole story, and I agree with Jack in that regard. OP is the one in his/her family that has ponied up the down payment, which perhaps no other sibling can provide. Lot of risk. Should come w...
by NotWhoYouThink
Thu May 03, 2018 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Forgot to report 1099-B; Received CP2000 notice
Replies: 6
Views: 616

Re: Forgot to report 1099-B; Received CP2000 notice

I assume they should be able to quickly see what I did wrong, issue the refund and close the case. At which point I do my state and Fed 2017 amended returns. Yeah, right. About that "quickly" thing... You'll likely get a mailing or two asking for the extra tax money plus more penalties and interest...
by NotWhoYouThink
Thu May 03, 2018 11:10 am
Forum: Investing - Help with Personal Investments
Topic: Life Insurance
Replies: 12
Views: 869

Re: Life Insurance

The insurance company will likely give her 3 choices for what to do with the money. - Leave I with them, and they will pay a fixed amount of interest, which may be more than she could get from an online bank savings account, but less than she could get from a CD. Or not. - Invest it in a non-qualifi...
by NotWhoYouThink
Thu May 03, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: "Gap in financial literacy widens for couples the longer the relationship lasts, study suggests"
Replies: 13
Views: 1779

Re: "Gap in financial literacy widens for couples the longer the relationship lasts, study suggests"

We both knew about apartment living and putting money in the 401k when we got married. If I die tomorrow, he may learn to DIY or may turn things over to PAS. If he dies tomorrow, I may learn to change the blades on the lawnmower or may hire a lawn service. He'll never paint the trim, I won't snake t...
by NotWhoYouThink
Thu May 03, 2018 10:10 am
Forum: Investing - Help with Personal Investments
Topic: Inheritance is getting complicated
Replies: 32
Views: 5145

Re: Inheritance is getting complicated

•Already foolishly collected lump sums from a life insurance policy and a non-qualified variable annuity. Plan to set that aside to replace my budgeted 403(b) contributions for the remainder of the year so that the previously-allocated money can be used for other things. •Here’s what I’m concerned ...
by NotWhoYouThink
Wed May 02, 2018 8:44 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for problem firm holding my inherited funds
Replies: 21
Views: 1415

Re: Advice for problem firm holding my inherited funds

Vanguard won't let you transfer an inherited IRA online, you have to talk to a concierge advisor who will send you some forms to fill out. It's a pain, but with all the stories of people making mistakes doing these transfers I'm mostly convinced it's a good idea. Left to their own devices, most peop...
by NotWhoYouThink
Wed May 02, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Continuing Care facility - shielding some assets for the kids
Replies: 37
Views: 3839

Re: Continuing Care facility - shielding some assets for the kids

If you think you have enough assets to qualify for CCRC without using the money you plan to gift, you could make the gifts now and disclose them as part of the CCRC financial disclosure. If you don’t want your kids to have unlimited access to the funds now, you could set up an irrevocable trust wit...
by NotWhoYouThink
Tue May 01, 2018 9:06 am
Forum: Investing - Theory, News & General
Topic: What are the questions you would ask a Financial Advisor ?
Replies: 59
Views: 3842

Re: What are the questions you would ask a Financial Advisor ?

Financial advisor is a pretty vague term. What is the help you expect your family to get from this person of firm? For investment management, either Vanguard PAS or any of various all-in-one funds would do. For financial planning, a periodic meeting with a planner that charges by the hour would do. ...