Search found 1398 matches

by NotWhoYouThink
Thu Dec 14, 2017 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Young Investor: When to diversify
Replies: 22
Views: 1275

Re: Young Investor: When to diversify

I agree that at your age the advantage of a TDF over a TSM investment in negligible. Also, you have an emergency fund, so you really aren't 100% US stock. If a decision could go either way, why agonize over the third decimal place of potential cost or risk? You've got the big things right - job, sav...
by NotWhoYouThink
Thu Dec 14, 2017 10:42 am
Forum: Investing - Help with Personal Investments
Topic: Ameriprise :(
Replies: 21
Views: 1315

Re: Ameriprise :(

I'll chime back in to disagree with the previous post about term life insurance, because it is not clear to me that you need any at all. Is anyone depending on your or your spouse's future income? If not, you don't need life insurance. Term will be expensive at your age, and you may not need it. Kno...
by NotWhoYouThink
Thu Dec 14, 2017 10:27 am
Forum: Personal Consumer Issues
Topic: How easy is it to minimize tax liability yourself without a CPA/accountant?
Replies: 26
Views: 2352

Re: How easy is it to minimize tax liability yourself without a CPA/accountant?

What's more, if you do your own taxes, you will soon learn yourself what is taxable and what isn't. Very important point. Even if you have the CPA file the "official" version. Buy a tax program, enter the data, and watch the numbers change. It is quite an education. And fun, if you are into that.
by NotWhoYouThink
Thu Dec 14, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Ameriprise :(
Replies: 21
Views: 1315

Re: Ameriprise :(

The life insurance is a contract between you and Ameriprise, you can't move it. If you post the details about it - the name and type of policy, how much you have paid in so far, what the cash value and death benefit are, etc. then someone here can help you decide what to do with it. At your age, I d...
by NotWhoYouThink
Thu Dec 14, 2017 9:33 am
Forum: Personal Consumer Issues
Topic: How easy is it to minimize tax liability yourself without a CPA/accountant?
Replies: 26
Views: 2352

Re: How easy is it to minimize tax liability yourself without a CPA/accountant?

Is the question about planning your business operations in a way that minimizes tax liability, or about calculating the tax liability of the business as it exists? Most of the answers have been about the second option, not about the first. Actually, you should want to maximize after-tax income rathe...
by NotWhoYouThink
Thu Dec 14, 2017 8:54 am
Forum: Investing - Help with Personal Investments
Topic: Ameriprise :(
Replies: 21
Views: 1315

Re: Ameriprise :(

You don't need him to respond. Asking him to respond to questions is just stalling on your part. You have statements, right, so you know the names of the investments you have? You know what types of accounts you have, right? IRA, Roth IRA, after-tax? Your job is to 1) Decide what investments you wan...
by NotWhoYouThink
Wed Dec 13, 2017 5:05 pm
Forum: Personal Consumer Issues
Topic: Who is Right Me or Spouse
Replies: 51
Views: 2756

Re: WHO IS RIGHT ME or SPOUSE

There is never a good answer to that question. Only Click and Clack could answer questions like that, and they are only heard in re-runs now.

But I would give $100 to the couple. On the other hand, I'm kind of cheap. You are more generous.
by NotWhoYouThink
Wed Dec 13, 2017 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching elementary school kids about money
Replies: 28
Views: 1411

Re: Teaching elementary school kids about money

TomatoTomahto wrote:
Wed Dec 13, 2017 1:20 pm
Good luck. Our two kids were raised similarly, are close in age, and couldn’t be more different when it comes to money.
Well, we have that too, but the one who spends more is motivated to earn more, so it will probably work out about right.
by NotWhoYouThink
Wed Dec 13, 2017 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching elementary school kids about money
Replies: 28
Views: 1411

Re: Teaching elementary school kids about money

The constant running commentary they hear from their parents is important. "We have the money to do xyz, but we're saving for college and retirement so we're going to do lmnop instead." "These pants are $100, we could get 2 pairs of pants on sale for less than that at Target." "Close the door, I can...
by NotWhoYouThink
Wed Dec 13, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: Novel Gift Ideas for Adult Siblings
Replies: 27
Views: 1851

Re: Novel Gift Ideas for Adult Siblings

There are all sorts of reasonably-priced pocket knives that are great gifts for brothers too. I'm of the belief that every man should always be carrying a knife. Depends on how often you have to go through metal detectors. If you stay away from airports, court houses, and sports venues this works. ...
by NotWhoYouThink
Wed Dec 13, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Expenses, cash flow in retirement
Replies: 11
Views: 1135

Re: Expenses, cash flow in retirement

Is there a lump sum buy-in requirement at the CCRC? How much? Where will the money come from? What are the monthly fees? What money will you save at the CCRC, what extra expenses might you have? Any of the CCRC expenses considered medical expenses for tax purposes? It appears your income will exceed...
by NotWhoYouThink
Mon Dec 11, 2017 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC [Expected Family Contribution]

Great stats, and interesting list. No real slam dunks for significant merit aid that I see - UPenn and UVA (almost) are need-only, CMU and Duke have very little merit aid so are mostly need only, the rest I don't know, and don't know your state other than probably NE US. CMU claims to meet full need...
by NotWhoYouThink
Mon Dec 11, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Done gone and did it [Retire]
Replies: 79
Views: 7235

Re: Done gone and did it

Congratulations.

And since I think you're in my state, I'll be looking forward to hearing how the post-COBRA insurance search goes. We'll be heading down that path soon.

It is nice to have the pension income, future SS, and investments. But that first step....
by NotWhoYouThink
Mon Dec 11, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Question on meeting with at-fault ins agent for injury claim
Replies: 9
Views: 610

Re: Question on meeting with at-fault ins agent for injury claim

Did your medical insurance pay anything? If they did, they will want reimbursement from any settlement you get from the other driver's insurance. Look up "subrogation."
by NotWhoYouThink
Mon Dec 11, 2017 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

You say your oldest is a senior and the middle child is a junior. What colleges has the senior applied to, and what colleges is the junior considering? What are their GPAs and standardized test scores? What extra-curricular activities are they participating in, and are they nationally ranked in any ...
by NotWhoYouThink
Mon Dec 11, 2017 9:57 am
Forum: Personal Consumer Issues
Topic: What MPG App Do You Use To Track Fuel Usage ?
Replies: 61
Views: 2321

Re: What MPG App Do You Use To Track Fuel Usage ?

And this is why the economy would crash tomorrow if everyone did things like me. I write it down the gas purchases in a spiral notebook in the center console, calculate mileage every 10th fill-up or so or if something seems off, and otherwise ignore it. And even that seems like overkill, but old hab...
by NotWhoYouThink
Sun Dec 10, 2017 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Can This be Part of an Estate Planning?
Replies: 7
Views: 909

Re: Can This be Part of an Estate Planning?

Or one parent may die at 60, and the other live to 95. The RMD's for the surviving parent will nearly drain the combined IRA, and the tax rate for the last 35 years will be higher because the parent will be filing as single. Unless the surviving parent remarries, and then dies, and leaves the IRA to...
by NotWhoYouThink
Sun Dec 10, 2017 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: DAF - when is it right to do?
Replies: 17
Views: 1283

Re: DAF - when is it right to do?

A couple of reasons not to. These reasons will apply to only a limited number of people, but you could be one of them. Your current or former employer will match your charitable donations to some organizations, but only if the donation is from you individually, not if the donation is from your DAF. ...
by NotWhoYouThink
Sun Dec 10, 2017 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

If you are going to game the system, it is important to understand both the game and the system, which is something OP needs quite a bit of work on. And any first year MBA student could tell you about the error of sub-optimization. Optimizing for lower taxes or lower tuition costs or greater aid, in...
by NotWhoYouThink
Sun Dec 10, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

The vast majority of schools have need blind admissions. This is incorrect. While there are about 100 colleges that claim to have a need-blind admissions policy, in reality only 30 - 40 with large endowments -think Harvard and Yale - actually are. Even if a school meets 100% of your “demonstrated f...
by NotWhoYouThink
Sat Dec 09, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7295

Re: At what age your investments start making more money than you?

At age 50 (2008) we lost about 3 times what we earned. Then the next year it was the other way around. Kind of a wild ride.
by NotWhoYouThink
Sat Dec 09, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

It's like investing and taxes.

If you try to maximize the money left over after paying (tuition, taxes) instead of minimizing the money you pay out in (tuition, taxes) you come up with different solutions.
by NotWhoYouThink
Sat Dec 09, 2017 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

I would echo all of what Wild Bill said so well above and add that unless your children are all in the top 15 - 20% as compared to those admitted to the schools of their choice, that by significantly reducing your EFC in the way you consider, you may actually limit the schools that would accept you...
by NotWhoYouThink
Fri Dec 08, 2017 10:39 pm
Forum: Personal Consumer Issues
Topic: Sweet Gum Balls
Replies: 36
Views: 2435

Re: Sweet Gum Balls

@2comma, don't hold back. How do you really feel?

By the way, I get it. Really.
by NotWhoYouThink
Fri Dec 08, 2017 12:13 pm
Forum: Personal Consumer Issues
Topic: Sweet Gum Balls
Replies: 36
Views: 2435

Re: Sweet Gum Balls

Fortunately our sweet gums were on our property, so we solved the problem by cutting them down. Friend at work correctly stated they drop balls 13 months out of the year. We have pictures of snow men with sweet gum balls. Maddening. There is a treatment for sweet gum trees that eliminates or at leas...
by NotWhoYouThink
Fri Dec 08, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

Quitting your job is not going to get you any significant non-loan financial aid.
Most important quote in this thread. Read it over and over until you understand it.
by NotWhoYouThink
Fri Dec 08, 2017 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 5804

Re: Quit jobs to gain lower EFC

There is no financial aid fairy. The biggest determinant of college cost is the list of schools your student is accepted to. The second biggest determinant is your student's high school academic and extracurricular record. If your student goes to Community College for 2 years, then the closest (non-...
by NotWhoYouThink
Thu Dec 07, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 147
Views: 15189

Re: A good friend has nearly $1M in BitCoin what do I tell him?

NotWhoYouThink wrote:
Wed Nov 29, 2017 8:55 am
Tell him he can pick up the check for lunch.
Changing my response. Make it dinner.
by NotWhoYouThink
Thu Dec 07, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Executor responsibilities
Replies: 44
Views: 2919

Re: Executor responsibilities

Mike - Can you clarify whether your FIL is near death or has died? Is MIL alive? It is correct that if an account names a beneficiary or TOD/POD recipient that the funds pass outside of probate, so the beneficiaries just need to present identification and a death certificate to the financial institu...
by NotWhoYouThink
Wed Dec 06, 2017 7:41 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Bitcoin & It’s Risks
Replies: 57
Views: 4818

Re: Larry Swedroe: Bitcoin & It’s Risks

To Swedroe's credit, the word "tulip" or "tulips" does not once appear in his article, despite his mentions of multiple historical asset bubbles. I wonder if, like many others, he also acknowledges that Tulipmania is an exaggerated myth. Also to his credit, an apostrophe does not appear in his head...
by NotWhoYouThink
Tue Dec 05, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance question - instructions for the wife if I were to expire unexpectedly
Replies: 5
Views: 789

Re: Inheritance question - instructions for the wife if I were to expire unexpectedly

My husband would read an annual letter like that right after he finishes going through the boxes that we moved here 20 years ago and haven't opened yet. So I drop a few comments throughout the year and otherwise just keep it to myself. My daughter would read it and probably have helpful comments on ...
by NotWhoYouThink
Tue Dec 05, 2017 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Medicare and retirement for high earner
Replies: 49
Views: 2376

Re: Medicare and retirement for high earner

The shock is mainly because you waited until your retirement date to look into costs. IRMAA has been around for a while. I'm many years from Medicare but have known about it for a while. Lack of planning can cause all kinds of shocks. Even so, Medicare with IRMAA is still a lot cheaper than what hea...
by NotWhoYouThink
Tue Dec 05, 2017 9:48 am
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 3311

Re: Philanthropy and related issues

I am very new to the forum and I certainly don't want to alienate anyone ( or break the rules). I genuinely appreciate the advice I have received. I have yet to see any posts by the financially fortunate people here about donating some of their wealth to charity or other non-profit causes. It seems...
by NotWhoYouThink
Sun Dec 03, 2017 8:58 am
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 3311

Re: Philanthropy and related issues

Hi All, I am very new to the forum and I certainly don't want to alienate anyone ( or break the rules). I genuinely appreciate the advice I have received. I have yet to see any posts by the financially fortunate people here about donating some of their wealth to charity or other non-profit causes. ...
by NotWhoYouThink
Fri Dec 01, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 7722

Re: The College Bubble - investment opportunities after the collapse?

The actionable part is what to invest in that will replace college. I don't know. Maybe the parents will be paying their kids to take care of their aging grannies while mom and dad go to work to fill up the retirement accounts.
by NotWhoYouThink
Thu Nov 30, 2017 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: A good friend has nearly $1M in BitCoin what do I tell him?
Replies: 147
Views: 15189

Re: A good friend has nearly $1M in BitCoin what do I tell him?

Also consider that people lie. Maybe he sold a year ago, or last month, but doesn't want to admit it.
by NotWhoYouThink
Thu Nov 30, 2017 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 38
Views: 3357

Re: Who are heirs? No will.

Who is Tom?
by NotWhoYouThink
Wed Nov 29, 2017 4:37 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 96
Views: 7645

Re: Divs and Cap Gains are killing me

It is really hard to give thoughtful answers without the whole picture. Why don't you start a new thread using this format?
viewtopic.php?f=1&t=6212
by NotWhoYouThink
Wed Nov 29, 2017 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: Edward Jones trap
Replies: 45
Views: 5236

Re: Edward Jones trap

Switched to EF from where? A low interest savings account? A portfolio consisting mainly of the stock of the company from which they get most of their income? An incoherent blend of stuff someone else sold them once? Bitcoin? It's entirely possible that they will do better with EJ than they were doi...
by NotWhoYouThink
Wed Nov 29, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning question (should we add beneficiaries to savings account?)
Replies: 33
Views: 1923

Re: Estate planning question (should we add beneficiaries to savings account?)

Bad idea to distribute the IRAs immediately unless immediate bills make that necessary. Separate inherited IRA accounts should normally be created for each beneficiary. The inherited IRAs can then be stretched over the life expectancy of each beneficiary. That continues tax deferral and eliminates ...
by NotWhoYouThink
Wed Nov 29, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4359

Re: Independent Trustee Actively Managing Trust Account

Gill, thanks for your expertise and perspective on this and many threads. At MegaCorp we had government customers who appeared to believe, really believe, that a corporation making a profit on a deal was evil and wrong. Or that only a very small profit was acceptable, and all risk should be carried ...
by NotWhoYouThink
Wed Nov 29, 2017 9:54 am
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 5476

Re: When to tell the SO about my financial situation?

If you are already living together, you are late. Tell her. Her reaction will tell you what you need to know. Quit lying. If she can't handle who you are the time to find out is now.
by NotWhoYouThink
Wed Nov 29, 2017 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Financial Advisor created potential Roth IRA issue
Replies: 11
Views: 1155

Re: Financial Advisor created potential Roth IRA issue

When you figure out what to do with the IRA, you should also report the FA to his employer and the appropriate regulator. Good grief.

Also, let your parents know that what he did was illegal. They should look into what he's done with their investments, and get away from him ASAP.
by NotWhoYouThink
Tue Nov 28, 2017 7:26 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 96
Views: 7645

Re: Divs and Cap Gains are killing me

I was reading the capital gains entries as capital gain distributions (taxable) not unrealized capital gains. Maybe.
by NotWhoYouThink
Tue Nov 28, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Independent Trustee Actively Managing Trust Account
Replies: 96
Views: 4359

Re: Independent Trustee Actively Managing Trust Account

I assume this is a common problem Trustees have when the income beneficiary passes and the assets pass to the remainderman. Speaking of which.. OP - is there an income beneficiary of this trust? Or does all income stay in the trust? If you really want to change something, the path to do that is not...
by NotWhoYouThink
Tue Nov 28, 2017 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 96
Views: 7645

Re: Divs and Cap Gains are killing me

ps56k- It sounds like you have substantial taxable holdings which produce lots of dividends. You retired early, but don't need all the dividend/capital gains distributions to cover expenses, so you're reinvesting much of that income. If you truly want fewer of these tax-inefficient holdings then: D...
by NotWhoYouThink
Mon Nov 27, 2017 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: Divs and Cap Gains are killing me
Replies: 96
Views: 7645

Re: Divs and Cap Gains are killing me

What are you doing with the dividends? Reinvesting them in the same funds, or investing them in more efficient funds, or spending them?
by NotWhoYouThink
Mon Nov 27, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning question (should we add beneficiaries to savings account?)
Replies: 33
Views: 1923

Re: Estate planning question (should we add beneficiaries to savings account?)

DO NOT let your wife pay all the bills and have the siblings take any cash without being sure you have enough..... The three-way split is AFTER expenses! Respectfully, could you explain how the OP's wife does this, when the two SILs have already shown up at the bank with mom's death certificate? IF...
by NotWhoYouThink
Mon Nov 27, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Amend 2015 taxes based on a new K-1 two years later?
Replies: 35
Views: 1783

Re: Amend 2015 taxes based on a new K-1 two years later?

To be fair, the original question wasn't about why the K-1 was issued, but about whether it could be safely ignored.