Search found 2696 matches

by NotWhoYouThink
Tue Nov 19, 2019 11:29 am
Forum: Personal Consumer Issues
Topic: Looking for a charity giving Christmas experience
Replies: 43
Views: 1766

Re: Looking for a charity giving Christmas experience

I avoid giving holiday presents to families, in favor of giving to charities who help families year round. The holiday excesses kind of creep me out in general, and if a child comes from a family where the adults make bad financial decisions, showering that child with expensive presents doesn't teac...
by NotWhoYouThink
Tue Nov 19, 2019 11:18 am
Forum: Investing - Theory, News & General
Topic: Gifting from a Trust account.
Replies: 2
Views: 172

Re: Gifting from a Trust account.

What do the terms of the trust say? I am assuming it was a revocable living trust which operated under your mother's Tax ID/SSN, but is now an irrevocable trust with its own Tax ID. So you can make a distribution from the trust if the terms of the trust allow it, but you can't make it a gift from th...
by NotWhoYouThink
Sun Nov 17, 2019 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Is this a fair price for a wealth manager financial advisor?
Replies: 43
Views: 3231

Re: Is this a fair price for a wealth manager financial advisor?

Scheduled to meet with a fee only financial advisor next week. Their group's fee is 10k per year plus 0.1% AUM. On investable assets of almost $5 million would be close to $15,000 per year. This seems high to me. What would be fair? I know you guys will say do it yourself using a three fund portfol...
by NotWhoYouThink
Thu Nov 14, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance
Replies: 7
Views: 530

Re: Term life insurance

the recommended product doesn't require lab/blood test. Why is this the recommended product? Have you talked to other brokers or looked into term4sale.com? Most well-priced life insurance is going to require at least a blood test and a check of your medical records. If the product you are looking a...
by NotWhoYouThink
Thu Nov 14, 2019 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Collection Calls Right After Death
Replies: 35
Views: 2779

Re: Collection Calls Right After Death

Isn't that what probate is for?

"Take that up with the probate court" sounds like a good response. Even in a case where a small estate affidavit is used, creditors have some time period to make claims against the estate.
by NotWhoYouThink
Thu Nov 14, 2019 10:26 am
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 9879

Re: The difficulty of discarding frugality?

I don't consider frugality a virtue in itself. It may be a virtue to LBYM enough during your accumulation years that you can save enough to be financially secure in retirement. It may be a virtue to avoid wasting food or fuel. But spending on things that bring comfort and joy isn't bad if you can af...
by NotWhoYouThink
Wed Nov 13, 2019 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 9879

Re: The difficulty of discarding frugality?

It’s a hard mentality to shed for some. It’s good to work on it as it can become more problematic as one ages and needs to spend money to provide day-to-day assistance to continue to live independently IMO, I see it with parents/in-laws in their 80s. They have trouble recognizing that the most frug...
by NotWhoYouThink
Wed Nov 13, 2019 11:44 am
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 11211

Re: Saving seats on Southwest

I don't understand how paying up to pick two aisle seats across from each other (not SW) would be considered rude. I just did that myself. Booking two aisles is not the same as picking them on SWA. Perhaps rude is too harsh, consider inconsiderate or indifferent or lack of empathy. Imagine a mom wi...
by NotWhoYouThink
Wed Nov 13, 2019 11:41 am
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 9879

Re: The difficulty of discarding frugality?

Watch how your potential heirs spend money. If your kids aren't as frugal with their own money as you are with yours, they won't be as frugal with your money. So do you want to leave it to them to "fritter away" by your standards, or do you want to enjoy it while you can? Probably some of both.
by NotWhoYouThink
Wed Nov 13, 2019 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Grandparents helping with college
Replies: 24
Views: 1862

Re: Grandparents helping with college

We didn't get any help from our parents when we were putting kids through college, but if we had received a vague statement like I have sufficient assets to be able to assist them in paying for the costs. we wouldn't have know what to do about it. The more specific you can be with your kids about ho...
by NotWhoYouThink
Wed Nov 13, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Will I be audited?
Replies: 51
Views: 4237

Re: Will I be audited?

I don't care if I get audited. I know what I did and why and have the receipts to document everything. Why should you care if you are in the same situation? Since you don't care if you get audited then why should another person with lack of knowledge on audit processes/procedures care too? The ques...
by NotWhoYouThink
Tue Nov 12, 2019 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents helping with college
Replies: 24
Views: 1862

Re: Grandparents helping with college

What if the grandparent writes the check directly to the college/university? Is this different from gifting money to the student or parents to pay for tuition? For purposes of reporting gifts to the IRS that go against your lifetime exclusion, it makes a difference. Paying college costs directly to...
by NotWhoYouThink
Tue Nov 12, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents helping with college
Replies: 24
Views: 1862

Re: Grandparents helping with college

It won't affect their aid if they don't qualify for aid in the first place. The difficult part here is that you likely can't know how your contributions affect the cost of their education unless you understand both their parents' financial situation in detail, and the students' competitive position ...
by NotWhoYouThink
Tue Nov 12, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Make donation through proxy (friend) and deduct?
Replies: 13
Views: 714

Re: Make donation through proxy (friend) and deduct?

Mega Corp will match my donations, they do not extend that offer to the general public.
by NotWhoYouThink
Tue Nov 12, 2019 1:01 pm
Forum: Personal Investments
Topic: "Tax advantaged Annuity" advised for friend
Replies: 35
Views: 1570

Re: "Tax advantaged Annuity" advised for friend

Do folks agree with this? "Using its lower fees as rationale, convince your friend to 1035 transfer to Vanguard (if she still can as Vanguard is passing administration of investment annuities to Transamerica by December 2020). There she will get honest advice. …... In order to move her money to som...
by NotWhoYouThink
Tue Nov 12, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Will I be audited?
Replies: 51
Views: 4237

Re: Will I be audited?

I don't care if I get audited. I know what I did and why and have the receipts to document everything. Why should you care if you are in the same situation?
by NotWhoYouThink
Tue Nov 12, 2019 11:24 am
Forum: Personal Investments
Topic: "Tax advantaged Annuity" advised for friend
Replies: 35
Views: 1570

Re: "Tax advantaged Annuity" advised for friend

There was an old thread here https://www.bogleheads.org/forum/viewtopic.php?t=256429 about what to do with life insurance payouts. Maybe others here who have had the misfortune to receive life insurance payouts can help fill in some gaps. When you get your payout the insurance company often offers 3...
by NotWhoYouThink
Mon Nov 11, 2019 6:50 pm
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 11211

Re: Saving seats on Southwest

I travel infrequently. From the stories here, SWA is not an option for me. I’ll pay more for a less aggravating airline and seat assignment. It just depends on what is more aggravating to you. It's aggravating to me to have to pay $30 to $50 for either a checked bag or a carry on large enough for m...
by NotWhoYouThink
Mon Nov 11, 2019 6:47 pm
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 11211

Re: Saving seats on Southwest

Easy solution: don't fly Southwest. Spend a few dollars more and fly an airline that lets you pick your seats in advance. And don't buy "economy class" tickets. Buy main cabin so you can pick your seats in advance and don't have to deal with all that bs of fighting with psycho people in line (the g...
by NotWhoYouThink
Mon Nov 11, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7256

Re: Should I buy the family cottage?

Why does the cottage need to change owners now? You could help your dad manage it until he dies. He can will it to you and you alone, and let your siblings split the rest of the estate. That way you get it at the stepped up basis, and you can keep saving for your retirement instead of shelling out $...
by NotWhoYouThink
Sun Nov 10, 2019 7:35 pm
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 11211

Re: Saving seats on Southwest

It may not be a huge deal, but if I paid $20 for early seat selection, and you are trying to block me from benefitting from that purchase so that someone who could have paid extra but chose not to can have that benefit, that is plainly rude. Not the biggest event in anyone's week, but I would not he...
by NotWhoYouThink
Sun Nov 10, 2019 4:44 pm
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 11211

Re: Saving seats on Southwest

I paid for Early Bird seating on a round trip last month. B40/41, and C5/6. Not many empty seats, I regretted paying extra for that and would not have been sympathetic to seat savers.
by NotWhoYouThink
Fri Nov 08, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy the family cottage?
Replies: 90
Views: 7256

Re: Should I buy the family cottage?

Run away. Run far away. Run fast. You can't afford this house, the upkeep, utilities, and insurance and still keep your retirement funded, especially since you don't plan to sell it or your current house. And your siblings will feel entitled to use it whenever they want, and they won't feel one bit ...
by NotWhoYouThink
Wed Nov 06, 2019 5:52 pm
Forum: Personal Investments
Topic: Assuming Control of Mom's Morgan Stanley Acct.
Replies: 18
Views: 1232

Re: Assuming Control of Mom's Morgan Stanley Acct.

Check with the AL facility how much of her costs there are considered medical expenses - it could be a lot. Which means she might have some large tax deductions that will reduce the pain from selling off high cost funds and realizing the capital gains. I agree that transferring the funds to Vanguard...
by NotWhoYouThink
Wed Nov 06, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Can a prenup & liability coverage be enough to forego having a trust?
Replies: 14
Views: 1204

Re: Can a prenup & liability coverage be enough to forego having a trust?

You might want to talk with a family law attorney in your state. Normally inheritances are not considered marital property, so if you inherit money free of trust after you get married it typically would not be split up in a divorce. Similarly, funds you have prior to getting married would not be con...
by NotWhoYouThink
Thu Oct 31, 2019 4:49 pm
Forum: Personal Investments
Topic: 529 distribution procedure
Replies: 19
Views: 896

Re: 529 distribution procedure

I have never seen a 1098-T that matched my expenses for that calendar year. You need to keep track of expenses, and keep payments and withdrawals in the same calendar year, but can ignore the 1098-T.
by NotWhoYouThink
Tue Oct 29, 2019 3:36 pm
Forum: Personal Consumer Issues
Topic: CCRC Tippng?
Replies: 7
Views: 815

Re: CCRC Tippng?

At my mother’s place, there was a resident’s committee that recommended a specific dollar contribution from each resident to a fund that was used to distribute tips to the employees at the end of each year (on behalf of all residents). But the tip amount (or whether to contribute at all) was ultima...
by NotWhoYouThink
Tue Oct 29, 2019 1:00 pm
Forum: Personal Consumer Issues
Topic: Women wearing black to a wedding?
Replies: 56
Views: 4386

Re: Women wearing black to a wedding?

Where is the wedding? In NYC or Boston black is common. In Tupelo or Cancun, less so.
by NotWhoYouThink
Tue Oct 29, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: My insurance rep has better street cred than yours
Replies: 8
Views: 1136

Re: My insurance rep has better street cred than yours

Voya just told me they would start billing at the new rate, about 4 times the old rate, starting the first month after the term expired. If I don't want that I could send them a letter telling them not to, which I have done. Waiting for some kind of confirmation. No street cred, just nonsense syllab...
by NotWhoYouThink
Mon Oct 28, 2019 7:14 pm
Forum: Personal Investments
Topic: non-education account for kids?
Replies: 12
Views: 672

Re: non-education account for kids?

It would be quite educational for them to see their balance drop as the market tanks. But they may learn all the wrong lessons either way. In my opinion, you teach them age appropriate lessons, and the first one they need to learn about money is that when you spend it you don't have it any more, and...
by NotWhoYouThink
Mon Oct 28, 2019 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question
Replies: 18
Views: 2297

Re: Inheritance question

Can you ask the executor whether you should expect much taxable income from the estate tax return? In some families, the executor would be keeping on top of things and keeping everyone up to date. In others, the executor runs everything through the attorney. And in others chaos develops. If you have...
by NotWhoYouThink
Sat Oct 26, 2019 2:06 pm
Forum: Personal Investments
Topic: Do You Pay For Financial Advice?
Replies: 76
Views: 4328

Re: Do You Pay For Financial Advice?

contemplating whether potentially a CFP would be worth 0.30 or 0.40. Someone whose main skill is sales and client retention won't be able to help you with your college/Roth/Tax questions, for .30, .40, or 1.75% Not the right skill set. So don't pay anyone to manage your investments if you can do it...
by NotWhoYouThink
Fri Oct 25, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Who does your tax returns?
Replies: 103
Views: 5195

Re: Who does your tax returns?

djpeteski wrote:
Fri Oct 25, 2019 7:46 am
Very small firm. The insight and advice we get from this group far exceeds the cost to file. The money that they saved me last year will probably pay for 20 years of their fee to prepare our returns.
Care to share how they did that?
by NotWhoYouThink
Thu Oct 24, 2019 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11613

Re: Ok to go without health insurance?

My family and I have had a few ER and Urgent Care visits over the last 5 years or so. (By the way, the list-price cost of these, combined, did not begin to reach the cost of our annual insurance premiums. ) In all cases, treatment was at least started and usually completed before anyone asked about ...
by NotWhoYouThink
Wed Oct 23, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Do you plan to actually spend down your portfolio?
Replies: 104
Views: 9745

Re: Do you plan to actually spend down your portfolio?

Down but not out.

I am retired, spouse is one bad meeting from retirement, which has had the perverse effect of making meetings more tolerable. We don't need to hoard the money, but want to make sure there is enough left for end of life care. Pretty tough to predict.
by NotWhoYouThink
Wed Oct 23, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Executor for parent in Florida seeking guidance
Replies: 46
Views: 3220

Re: Executor for parent in Florida seeking guidance

Thanks for all of the informative comments. Contacting the county probate court seems like a good first step. The total estate value exceeds the numbers put out in this thread to avoid probate. House value is not as clear although it's appraised at 150k but the town is not thriving. Do you expect t...
by NotWhoYouThink
Wed Oct 23, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11613

Re: Ok to go without health insurance?

The other advantage of health insurance is that the expected value of buying insurance is positive. Even if you have a high-deductible plan so that the plan pays nothing for most of your medical coverage, the payment is at the in-network rate. (And HDHPs make this even better by giving you more tax...
by NotWhoYouThink
Tue Oct 22, 2019 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11613

Re: Ok to go without health insurance?

The current administration brought them back, plus it removed the mandate. Do you have a link for that? I know the mandate has been removed, but have seen nothing about catastrophic plans being legal again for those of us over 30, and it would have been big news because there is a market for it. No...
by NotWhoYouThink
Tue Oct 22, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Ok to go without health insurance?
Replies: 209
Views: 11613

Re: Ok to go without health insurance?

Get catastrophic coverage and self-insure for the ordinary stuff. I thought that the ACA gutted 'catastrophic' plans. The current administration brought them back, plus it removed the mandate. Do you have a link for that? I know the mandate has been removed, but have seen nothing about catastrophic...
by NotWhoYouThink
Tue Oct 22, 2019 3:16 pm
Forum: Personal Investments
Topic: Inherited American Funds
Replies: 8
Views: 733

Re: Inherited American Funds

Cancel or postpone the call tomorrow. You may think the reason for it is to get the funds moved to your name, but the person on the other end knows that it is a sales call, and he intends to sell you on keeping the funds with him. Don't talk to him until you have decided what to do with the money, a...
by NotWhoYouThink
Tue Oct 22, 2019 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Child Insurance Policies - Maintain or ?
Replies: 22
Views: 1237

Re: Child Insurance Policies - Maintain or ?

Even if the dividend will keep the policy in place, what is the point? Why does a child need life insurance? For a child, the money is more valuable than the insurance. What kind of sales pitch does it take to sell life insurance for an infant? What can the story possibly be??? Maybe the pitch works...
by NotWhoYouThink
Mon Oct 21, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: My husband says I can retire. Is he right?
Replies: 45
Views: 6215

Re: My husband says I can retire. Is he right?

As others have pointed out, your annual spending of $72K probably does not include state and federal income tax, or health insurance for you and your child. Where I am, we'd spend $3K/month a age 60 just for (unsubsidized) premiums on the ACA plans. Plus deductibles, and that's just for 2 of us. Wil...
by NotWhoYouThink
Mon Oct 21, 2019 5:02 pm
Forum: Personal Investments
Topic: Advice for friend - lots of loads and high ER yet good returns
Replies: 37
Views: 2504

Re: Advice for friend - lots of loads and high ER yet good returns

How long has your friend had this account, and how often does his advisor change the investment mix? My point is that even though these funds that he now holds, collectively, have beat the SP500 over some time period, that doesn't mean that your friend has been invested in those funds over that time...
by NotWhoYouThink
Thu Oct 17, 2019 11:21 am
Forum: Personal Consumer Issues
Topic: SodaStream: a good replacement for Costco Kirkland sparkling water?
Replies: 25
Views: 2762

Re: SodaStream: a good replacement for Costco Kirkland sparkling water?

My 10 year old Soda Stream Penguin takes up very little room and is perfect for my needs. Any size glass at home, or my S'well with a sport top for the car.
by NotWhoYouThink
Wed Oct 16, 2019 9:06 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA - tips for filling out
Replies: 25
Views: 2486

Re: FAFSA - tips for filling out

And anyway why would the money in the kid's savings account not to toward college expenses? I'm supposed to subsidize college costs for someone who has the money to pay for it but would rather spend the money on gaming?
by NotWhoYouThink
Wed Oct 16, 2019 9:04 am
Forum: Personal Consumer Issues
Topic: coin collection - sell or keep?
Replies: 17
Views: 2402

Re: coin collection - sell or keep?

There's a guy posting here with some old bourbon, maybe you could trade.
by NotWhoYouThink
Wed Oct 16, 2019 6:55 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA - tips for filling out
Replies: 25
Views: 2486

Re: FAFSA - tips for filling out

Filling out the form is simple, it's arranging your affairs in advance of filling out the form that can make a difference. Maybe, for a few people. For most of us there are no need based financial aid grants available. For exceptional students from low income families there are some grants. For pret...
by NotWhoYouThink
Tue Oct 15, 2019 6:21 pm
Forum: Personal Consumer Issues
Topic: Invited to join HOA board. Pros/cons?
Replies: 58
Views: 4705

Re: Invited to join HOA board. Pros/cons?

Just recently, I was invited to join the HOA board. I had put together a presentation of some concerns around our neighborhood, it impressed the board, and they decided that maybe I should join . They apparently had someone recently step down and need to backfill the position. For those folks who h...