Search found 3101 matches

by NotWhoYouThink
Fri Sep 18, 2020 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 9
Views: 429

Re: Estate considerations with sibling living in home owned by parent

Looks like some responses missed the fact that there are 2 houses - one paid off house owned and occupied by parents - one house with a mortgage owned by parents, occupied by sibling. The sibling stays in the house unless evicted, you don't get to kick someone out just because a landlord died. Also,...
by NotWhoYouThink
Wed Sep 16, 2020 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 68
Views: 4069

Re: ethics concern with trust

Mostly it reeks of careless inattention and incompetence, which is probably more the rule than the exception in this kind of informal family arrangement. OP, accounting and attorney bills add up quickly, and are paid by the trust. The potential to unravel this mess and have any money left over to go...
by NotWhoYouThink
Wed Sep 16, 2020 1:18 pm
Forum: Personal Consumer Issues
Topic: Grocery store didn't tell me Shingrix was $160
Replies: 166
Views: 10209

Re: Grocery store didn't tell me Shingrix was $160

Does the grocery store have your insurance information? Your insurance might cover it
by NotWhoYouThink
Wed Sep 16, 2020 10:23 am
Forum: Personal Consumer Issues
Topic: Tiffany Quality
Replies: 35
Views: 2602

Re: Tiffany Quality

We had no fights in the family about splitting up Grandma's china and crystal, no one wanted it. The Le Creuset dutch oven and the Kitchenaid stand mixer we had to draw straws for, and all the 20-something and 30-somethings were interested.
by NotWhoYouThink
Tue Sep 15, 2020 4:15 pm
Forum: Personal Investments
Topic: Inherited IRA and SECURE act
Replies: 8
Views: 844

Re: Inherited IRA and SECURE act

I'd put it all in a balanced or life strategy fund that matches your overall asset allocation. You have to take it out because those are the rules, but no reason otherwise to be protective of it near term.
by NotWhoYouThink
Tue Sep 15, 2020 4:13 pm
Forum: Investing - Theory, News & General
Topic: Questions to ask a prospective financial advisor
Replies: 104
Views: 4129

Re: Questions to ask a prospective financial advisor

^Actually, I'm being serious. The people on this board constantly say "The client is getting screwed and they don't know how. They don't know how much they're paying when they pay a 1% fee." Really? And you think they can make decisions about which of the 5000 different mutual funds they should pur...
by NotWhoYouThink
Tue Sep 15, 2020 4:08 pm
Forum: Investing - Theory, News & General
Topic: Questions to ask a prospective financial advisor
Replies: 104
Views: 4129

Re: Questions to ask a prospective financial advisor

i heard this podcast the other day "We buy a junk bond" on Planet Money: https://www.npr.org/2020/09/09/911162693/we-buy-a-junk-bond It was interesting to hear about it. They did it for educational/journalistic purposes. spoiler alert: they lost almost all of their investment (invested $573.00 but ...
by NotWhoYouThink
Tue Sep 15, 2020 2:02 pm
Forum: Personal Investments
Topic: Whole Life Insurance vs. Investing
Replies: 7
Views: 512

Re: Whole Life Insurance vs. Investing

Do you understand why bogleheads are generally against whole life? Do you believe you are a special case that would be an exception?

You say you want to show it on a piece of paper - is there someone besides yourself you are trying to convince?
by NotWhoYouThink
Mon Sep 14, 2020 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?
Replies: 70
Views: 5561

Re: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?

Contrary to popular myth, you can't "press charges." Only a prosecutor can do that. If you like, you can look up what office in your county or state handles that kind of prosecution, and report to that authority. I don't think a simple police report would do, you'd need to make sure it came to the a...
by NotWhoYouThink
Mon Sep 14, 2020 2:43 pm
Forum: Investing - Theory, News & General
Topic: Questions to ask a prospective financial advisor
Replies: 104
Views: 4129

Re: Questions to ask a prospective financial advisor

Greenman72, I agree that many of the questions and challenges mentioned in this thread are just silly. Also, I don't plan to hire an FA because I'm pretty confident of how I want to manage my portfolio on my own. But as you mention, not everyone wants to do that, and many people shouldn't because th...
by NotWhoYouThink
Mon Sep 14, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: How do you estimate post-retirement income tax?
Replies: 21
Views: 1923

Re: How do you estimate post-retirement income tax?

I have a spreadsheet that shows anticipated income each of the next 20 years - pension, social security, dividends, capital gains, IRA withdrawals, etc. I apply a factor to each income source based on anticipated effective tax rate, then add up what's left as my spending potential for that year. I a...
by NotWhoYouThink
Sun Sep 13, 2020 7:36 am
Forum: Personal Investments
Topic: Anyone successfully living off dividends & interest?
Replies: 203
Views: 18406

Re: Anyone successfully living off dividends & interest?

A family friend managed to live off interest for a while. He had followed his long-time trusted financial advisor from UBS to Stanford Investments, and put his money into high interest CDs. It ended poorly. Save more, spend less is the best way to live off interest. Taking more risk can work or can ...
by NotWhoYouThink
Sat Sep 12, 2020 6:06 am
Forum: Investing - Theory, News & General
Topic: Questions to ask a prospective financial advisor
Replies: 104
Views: 4129

Re: Questions to ask a prospective financial advisor

I was just speaking with a relative who called to let me know he is retiring next month. He is 64 and wife is 62. He’s been a saver all his life and has accumulated a substantial nest egg. I wasn’t aware, until today, that he has never learned basic financial/investing principles. Approaching retir...
by NotWhoYouThink
Sat Sep 12, 2020 5:55 am
Forum: Personal Finance (Not Investing)
Topic: Would you fire your financial advisor for this error?
Replies: 45
Views: 4648

Re: Would you fire your financial advisor for this error?

As mentioned above, there was no error. The advisor gave the right answer the first time. He is almost certainly an investment manager, not a financial advisor anyway, unless he also does her taxes. The follow-up call about the taxes is an extra service for which he is not responsible. In fact, many...
by NotWhoYouThink
Fri Sep 11, 2020 1:16 pm
Forum: Investing - Theory, News & General
Topic: Timing the market for Roth Conversions. Sin?
Replies: 18
Views: 901

Re: Timing the market for Roth Conversions. Sin?

There is no boglehead religion, and no boglehead sin. Ever. Please stop.

Whether market timing makes sense or not you already know. We can't predict the market and no one believes that you can. Sell and convert whenever you choose, and learn to live with uncertainty.
by NotWhoYouThink
Fri Sep 04, 2020 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Cousin died He did not leave a will
Replies: 85
Views: 10793

Re: Cousin died He did not leave a will

Oh, my!

Just had to change my post from "thanks for the update" to "I'll spring for the popcorn."
by NotWhoYouThink
Wed Sep 02, 2020 3:26 pm
Forum: Personal Investments
Topic: Portfolio review: Currently feeling foolish for being a Boglehead. Help!
Replies: 53
Views: 4786

Re: Portfolio review: Currently feeling foolish for being a Boglehead. Help!

Keep in mind that people lie. Also, people remember and brag about their gains, but bury the news of their losses, even to themselves. Don't compare your reality to their boasts. Even so, it could be that they have made a bunch more than you have. So be happy for them. But be nervous for them, becau...
by NotWhoYouThink
Wed Sep 02, 2020 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Should I get extended car warranty for a 2017 CPO Mazda?
Replies: 19
Views: 1126

Re: Should I get extended car warranty for a 2017 CPO Mazda?

For a one-time decision it's hard to say. Almost certainly not for a Mazda, but you could get that one lemon in the bunch. For a lifetime of car-buying decisions, the answer is NO. Never. If you never buy an extended warranty, you'll come out ahead over a lifetime of car ownership. Even if there is ...
by NotWhoYouThink
Wed Sep 02, 2020 6:51 am
Forum: Personal Investments
Topic: Husband doesn’t want to follow my investment plan
Replies: 47
Views: 4842

Re: Husband doesn’t want to follow my investment plan

The White Coat Investor site has a lot of good resources, both for index/3 fund types of investments and for real estate investing. This forum is rich in information but the least flashy spot on the web. WCI has content that is appropriate to your income group, and is a little livelier.
by NotWhoYouThink
Tue Sep 01, 2020 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Continuing Care Retirement Community Entrance Fee
Replies: 106
Views: 7244

Re: Continuing Care Retirement Community Entrance Fee

This is the real tragedy of CCRCs and nursing homes: that the elderly residents are frequently miserable and lose any interest in continuing to live. The first 7 or 8 years there were great - she could get out, there was transportation available when she wasn't feeling well enough to drive, she cou...
by NotWhoYouThink
Tue Sep 01, 2020 1:28 pm
Forum: Personal Investments
Topic: 400k cash, fear of inflation
Replies: 46
Views: 4068

Re: 400k cash, fear of inflation

Welcome and congratulations on saving so much without a 401k! You're doing a great job there. I recommend you check out the wiki, starting, appropriately enough, with the Getting Started link here. https://www.bogleheads.org/wiki/Getting_started There are a lot of things you can do to grow and prote...
by NotWhoYouThink
Tue Sep 01, 2020 9:01 am
Forum: Personal Investments
Topic: Family member has one million in one stock , doesn't want to cash out
Replies: 261
Views: 27504

Re: My dad has 1 million in Tesla, I told him to cash out, he doesn't want too

Since he isn't interested in your investing advice, talk to him about his other life choices. How is his diet? Too many processed foods? Does he get enough exercise? Maybe his drinking has increased during the pandemic, ask him if he's considered cutting back.
by NotWhoYouThink
Mon Aug 31, 2020 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Continuing Care Retirement Community Entrance Fee
Replies: 106
Views: 7244

Re: Continuing Care Retirement Community Entrance Fee

Covid may have helped CCRC finances, by freeing up space for new residents. I haven't seen any overall analysis, but their incentive is always to bring in new residents and their up-front payments. Let's hope there is not another pandemic, but the downside of CCRC living right now is that residents ...
by NotWhoYouThink
Mon Aug 31, 2020 11:45 am
Forum: Personal Investments
Topic: shorting gold (blasphemy, I know)
Replies: 19
Views: 1156

Re: shorting gold (blasphemy, I know)

I don't like the use of the words blasphemy and sacrilege, even if (mostly) in jest. This board is not about religion, not about blind obedience to an all-knowing authority, and not about faith. It's about data and research and math and human behavior and knowledge of laws, and about understanding h...
by NotWhoYouThink
Sun Aug 30, 2020 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Notice from IRS on 2018 under-paid taxes
Replies: 4
Views: 670

Re: Notice from IRS on 2018 under-paid taxes

I don't see any reason to hire an accountant yet if you understand what you did wrong. I've had months' long correspondences with the IRS. They haven't come to my house to pick me up yet.
by NotWhoYouThink
Sat Aug 29, 2020 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: IRS processing of 2019 paper returns
Replies: 10
Views: 755

Re: IRS processing of 2019 paper returns

Still no status on my mom's return. She had a refund due, which was applied to 2020 taxes. I assume I should put the refund amount when requesting status, but it keeps coming back asking me to check if the data I entered was correct. Oh well, nothing I can do about it until next February or so.
by NotWhoYouThink
Sat Aug 29, 2020 8:57 am
Forum: Personal Investments
Topic: Convincing teenager to invest in Roth
Replies: 109
Views: 5759

Re: Convincing teenager to invest in Roth

Honestly, you are simply not going to get this across to him if he isn't already mentally engaged about finances and doesn't understand about compounding or time value at age 17. And I would tell you that the vast majority of kids out there don't. It also doesn't help that even with basic savings a...
by NotWhoYouThink
Fri Aug 28, 2020 4:28 pm
Forum: Personal Investments
Topic: Inherited IRA but I’m in top tax bracket?!?
Replies: 46
Views: 3174

Re: Inherited IRA but I’m in top tax bracket?!?

If you are going to give it all this year you could do it directly and skip the DAF. Really the DAF just lets you get the deduction now and stretch out the giving, but why not give it all now? The DAF also allows some anonymity, but I'm ok with organizations knowing my name.
by NotWhoYouThink
Fri Aug 28, 2020 3:42 pm
Forum: Personal Investments
Topic: Financial Advisor (Morgan Stanley) wants to end relationship with ("fire") my grandfather
Replies: 62
Views: 6773

Re: Financial Advisor (Morgan Stanley) wants to end relationship with ("fire") my grandfather

My grandfather has been with Morgan Stanley for 30+ years; the advisor he worked with for most of that time retired a few years ago and he was grandfathered into a new group. Over the past few years, I became more involved in assisting him with his finances and realized that his new set of advisors...
by NotWhoYouThink
Fri Aug 28, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Expenses>Income new widow-should I worry?
Replies: 27
Views: 3115

Re: Expenses>Income new widow-should I worry?

You don't need to worry, but unfortunately you do need to start paying more attention to finances eventually, and start planning for your future. You are relatively young now and could live another 40 years, or more. You'll need to have a plan, not just name one specific action (taking $2K/month fro...
by NotWhoYouThink
Fri Aug 28, 2020 11:44 am
Forum: Personal Investments
Topic: Financial Advisor (Morgan Stanley) wants to end relationship with ("fire") my grandfather
Replies: 62
Views: 6773

Re: Financial Advisor (Morgan Stanley) wants to end relationship with ("fire") my grandfather

I agree that they are firing you more than your grandfather, and can't blame them at all. Their business model is to make a certain amount of money in fees and commissions per million invested, and you are not allowing that. It makes their metrics look bad. And it decreases their revenue in a way th...
by NotWhoYouThink
Wed Aug 26, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Term Life renewal mechnism?
Replies: 13
Views: 556

Re: Term Life renewal mechnism?

The company notified me that my level term was coming to an end, and the new monthly rate was much higher. The gave me the address to write to if I wanted to cancel. I wrote the later, mailed it, and eventually got a cancellation confirmation back. Old school snail mail all the way. The contract you...
by NotWhoYouThink
Tue Aug 25, 2020 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Help with mom's inheritance
Replies: 17
Views: 1516

Re: Help with mom's inheritance

FiveK wrote: Tue Aug 25, 2020 6:55 pm
NotWhoYouThink wrote: Tue Aug 25, 2020 6:51 pmOr investing all the money with the next Bernie Sanders?
Might be better than Bernie Madoff, but maybe not.... ;)
Freudian? Anyway, I have corrected it. No more typing with the news on.
by NotWhoYouThink
Tue Aug 25, 2020 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help with mom's inheritance
Replies: 17
Views: 1516

Re: Help with mom's inheritance

Wouldn't grandfather's new wife receive the assets when he passes and could she modify the martial trust? I'm not a lawyer so I have no idea, just an honest question Nobody knows without reading the trusts. But probably since the trusts originated with Grandma's estate, OP's mom is the beneficiary ...
by NotWhoYouThink
Tue Aug 25, 2020 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Cousin died He did not leave a will
Replies: 85
Views: 10793

Re: Cousin died He did not leave a will

... Do you have any experience getting a bond instead of a waiver? ..l. Yes. There are several bonding companies. There are some insurance agencies that specialize in surety bonds, and will know which bonding company is best (most likely to issue the bond at the lowest cost) for a given case. A law...
by NotWhoYouThink
Tue Aug 25, 2020 5:41 pm
Forum: Personal Consumer Issues
Topic: Property line issue
Replies: 24
Views: 1943

Re: Property line issue

there was a thread just like this a few months back, in fact I thought this was the same thread initially (RV parked on someones property becoming a residence) This work is unpermitted, and the required minimum setback here is 30ft Personally, I'd push the issue without a doubt. No reason in the wo...
by NotWhoYouThink
Tue Aug 25, 2020 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Cousin died He did not leave a will
Replies: 85
Views: 10793

Re: Cousin died He did not leave a will

I have fairly significant experience with this stuff so will agree with much of the above. If all next of kin agree to sign a bond waiver that saves the estate a few bucks. A surety bond is sort of like insurance in case the PR runs off with the money. It's actually not very good insurance but that...
by NotWhoYouThink
Tue Aug 25, 2020 2:46 pm
Forum: Investing - Theory, News & General
Topic: A Beater Truck and a FAT 401k...
Replies: 104
Views: 10146

Re: A Beater Truck and a FAT 401k...

If you work on the 401k first you can buy a very nice truck later. Switching from the beater cars to the nice ones late in life seems more fun to me than switching to beaters late in life because you didn't put enough in the 401k.
by NotWhoYouThink
Tue Aug 25, 2020 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Help with mom's inheritance
Replies: 17
Views: 1516

Re: Help with mom's inheritance

In order to understand what you can do or should do you need a copy of the trust documents. Does your mother have those documents? The trust documents should say what should happen when your grandfather dies, and what rights he has to send money to your mother before that time. Does the money go to ...
by NotWhoYouThink
Tue Aug 25, 2020 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Pursue Inheritance Asset or Let it Go?
Replies: 14
Views: 2123

Re: Pursue Inheritance Asset or Let it Go?

Lots of good advice above not just on your powers but on your RESPONSIBILITIES as a trustee. As a trustee, you should have available a list of assets of the trust. If there is not one, all three trustees have been irresponsible. Are the painting owned by the trust? You should know that without quest...
by NotWhoYouThink
Tue Aug 25, 2020 10:50 am
Forum: Personal Investments
Topic: Inheritance for ex wife tax questions
Replies: 4
Views: 736

Re: Inheritance for ex wife tax questions

Contrary view on the Franklin Templeton offer. She should probably keep her money there at 1% until she figures out what to do with it. It's a better rate than she can get in most money market accounts. And it probably isn't one of their funds that you could buy as a regular customer, it is a produc...
by NotWhoYouThink
Mon Aug 24, 2020 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling upcoming trip
Replies: 43
Views: 4931

Re: Cancelling upcoming trip

Due to my own foolishness, I booked a December vacation to Europe in January via Expedia. The airline has changed the flight substantially that Expedia said I am eligible for a refund. However the hotel has a no cancellation policy. Expedia said they will request a refund from the hotel. Of course,...
by NotWhoYouThink
Sun Aug 23, 2020 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Cousin died He did not leave a will
Replies: 85
Views: 10793

Re: Cousin died He did not leave a will

I think it is helpful of you to volunteer to step in and tackle this. And your stepping in will make a positive difference, even if none of the potential beneficiaries sees a penny from the estate and it all goes to the State to repay care given. If you don't step in what happens? The home continues...
by NotWhoYouThink
Sat Aug 22, 2020 2:11 pm
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13098

Re: When should one share financials with their children?

Yep. I've known that for years (ever since the dawn of the internet). The point that has made by several in this thread, yet apparently is still lost on some, is that in many places the fact that a person lives in an $800K house doesn't tell anybody a single thing about their net worth. They're jus...
by NotWhoYouThink
Sat Aug 22, 2020 8:41 am
Forum: Personal Consumer Issues
Topic: Silver candlesticks - how to determine if weighted or not
Replies: 7
Views: 948

Re: Silver candlesticks - how to determine if weighted or not

Given the clear marking on the bottom, I'd guess they are not weighted - I have a couple of pieces that are, and they are marked.
by NotWhoYouThink
Fri Aug 21, 2020 2:01 pm
Forum: Personal Investments
Topic: Real estate continues to soar (great for landlords)
Replies: 71
Views: 5851

Re: Real estate continues to soar (great for landlords)

How many states have already lifted the moratorium on rent? One of a coworker's tenants just stop paying...because she could. Went on vacations instead. :annoyed I don't think any state is saying rent is free. It's just postponed and tenants still need to pay. Which they will all reliably get to ri...
by NotWhoYouThink
Fri Aug 21, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Did any inheritance make positive effect on your life?
Replies: 229
Views: 18953

Re: Did any inheritance make positive effect on your life?

As evenhanded as I'd like to be, I am still aggrieved at my mother's treatment. She co-signed on my sister's first truck; she gave my brother much more financial assistance in college (because he lied about his financials); and my step-brothers were loaned/gifted thousands of dollars that never cam...
by NotWhoYouThink
Fri Aug 21, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Best way to inherit a house
Replies: 19
Views: 2094

Re: Best way to inherit a house

What other assets does she have? If she needs long term care she may have to sell the house unless she can afford to bring in caregivers 24/7 at $10K+ per month. If she has a will and other assets she could leave you the house in the will. If she has no other assets she could use a Transfer on Death...
by NotWhoYouThink
Fri Aug 21, 2020 10:38 am
Forum: Personal Finance (Not Investing)
Topic: No Probate - Medical Bill Responsibilities
Replies: 15
Views: 1421

Re: No Probate - Medical Bill Responsibilities

Thank you all for your responses. They were very helpful. I am in the commonwealth of VA and it seems that probate is not required. As far as the possibility of medical bills coming out from left field, I will hold back some, but not a lot, just to hedge the risk. Based on your responses, I am pret...