Search found 2480 matches

by NotWhoYouThink
Tue Jun 18, 2019 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life ins question
Replies: 11
Views: 268

Re: Life ins question

Kenkat wrote:
Tue Jun 18, 2019 5:58 pm
How old are your kids? At age 65, do you really need life insurance at all? You could cash out the Survivor policy (sounds like Survivor Universal Life), invest it in Total Stock Index and if it doubles every 10 years, you’d have over $400k. And you don’t both have to die to get the money.
+1
by NotWhoYouThink
Tue Jun 18, 2019 10:06 am
Forum: Personal Investments
Topic: Asset allocation for 80 year old with high income
Replies: 5
Views: 580

Re: Asset allocation for 80 year old with high income

She is managing a family held commercial property? What is the succession plan on managing this property if/when she is unable to continue? Will she be able to easily sell her share to family, will other family members agree to sell the property? I don't know that she needs a lot of cash, she could ...
by NotWhoYouThink
Mon Jun 17, 2019 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Short-term money needs for Executor of Estate
Replies: 52
Views: 3011

Re: Short-term money needs for Executor of Estate

Depends on what you want. BIL spent about $3K max on FIL's cremation and service. FIL left a $25K insurance policy that a handwritten note said was for final expenses. My suggestion to have the memorial on a beach in Hawaii was not acted upon.
by NotWhoYouThink
Mon Jun 17, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Bank won't give Medallion Signature Guarantee for anything related to savings bonds
Replies: 16
Views: 1337

Re: Bank won't give Medallion Signature Guarantee for anything related to savings bonds

A shame the bank couldn't tell you that it wasn't necessary. Maybe you need better bankers.

I didn't know the difference, but I am an engineer not a banker. A banker should know.
by NotWhoYouThink
Sat Jun 15, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Article on high deductible health plans - and the math
Replies: 104
Views: 6733

Re: Article on high deductible health plans - and the math

HDHPs work best when you consider them insurance rather than pre-paid health care, and when you can do some math and manage money. If you need health care you go get it regardless of the deductible - your reduced premium makes it easier to pay the higher deductible, plus you can spend from the HSA. ...
by NotWhoYouThink
Sat Jun 15, 2019 9:36 am
Forum: Personal Finance (Not Investing)
Topic: At what net worth/ income level would you put your kids in private school?
Replies: 23
Views: 1375

Re: At what net worth/ income level would you put your kids in private school?

Not a decision that is limited to net worth/income. We could have afforded private, but lived in an area where public was a significantly better option. I'd rather use my net worth/income to live in such an area, but if that were not possible we would have considered private.
by NotWhoYouThink
Sat Jun 15, 2019 9:34 am
Forum: Personal Investments
Topic: Vanguard Financial Plan requires Brokerage Account? Bait and switch?
Replies: 45
Views: 2685

Re: Vanguard Financial Plan requires Brokerage Account? Bait and switch?

Looks to me like you are making a mountain out of a mole hill. My local bank has changed account options, my cell provider has changed plan options, my credit cards have all made various changes. The financial industry was not cast in bronze the day you opened your Vanguard account. Change happened ...
by NotWhoYouThink
Thu Jun 13, 2019 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Late Life/End of Life Expenses
Replies: 38
Views: 3673

Re: Late Life/End of Life Expenses

A friend once mentioned at our lunch group that he just visited his mother in a nursing home for which his mother paid, and next to her was a lady who got her stay paid by Medicaid. That was same care except that one person paid herself, and Medicaid paid for the other. There is a lot of anecdata o...
by NotWhoYouThink
Thu Jun 13, 2019 12:48 pm
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

Many years ago Georgia Tech required two classes for all male students, Swimming and Aerobics. The Swimming class was actually drown proofing modeled after the Naval Aviator survival training. It was actually taught in the Naval Armory pool on campus. The Aerobics class was modeled after the Army f...
by NotWhoYouThink
Thu Jun 13, 2019 12:46 pm
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

Some colleges require the PE course even for varsity athletes. Not much standardization out there, it depends on the school.
by NotWhoYouThink
Thu Jun 13, 2019 10:15 am
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

I think it is fair to put limits on what you will and won't pay for. The president of the college my son attended recommended to students at orientation that they take at least one class that makes their parents say "I'm paying $XXXXX for you to take THAT?????" So there will be some back and forth. ...
by NotWhoYouThink
Thu Jun 13, 2019 9:36 am
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

There's a large sub set of universities that have a pledge that all their students have to know how to swim well enough so as to not drown! I remember having to take a swim test at freshman orientation and those who failed had to take swim classes. I think you had to just tread water for a few minu...
by NotWhoYouThink
Thu Jun 13, 2019 8:03 am
Forum: US Chapters
Topic: Trying out a new signature
Replies: 6
Views: 1084

Re: Trying out a new signature

It's a good look.
by NotWhoYouThink
Wed Jun 12, 2019 5:04 pm
Forum: Investing - Theory, News & General
Topic: What financial information do you wish was more commonly known?
Replies: 46
Views: 7287

Re: What financial information do you wish was more commonly known?

Your federal tax is the combination of what you pay throughout the year and what you pay (or get back) after you file your return. It isn't just the April bill or refund.
by NotWhoYouThink
Wed Jun 12, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Trust fund disclosure on asset disclosure?
Replies: 7
Views: 645

Re: Trust fund disclosure on asset disclosure?

If a spouse fills out a state financial disclosure form, is disclosure of their assets held in trust required? You need to state the question more completely. What do you mean by "their assets"? If the assets belong to the person filling out the financial disclosure form, then they should be disclo...
by NotWhoYouThink
Tue Jun 11, 2019 2:37 pm
Forum: Investing - Theory, News & General
Topic: Will Dollar Cost Averaging Result in a Tax Preparation Nightmare?
Replies: 23
Views: 2205

Re: Will Dollar Cost Averaging Result in a Tax Preparation Nightmare?

https://www.bogleheads.org/forum/viewtopic.php?t=270543&start=50 As has been reported, Schwab sometimes eases this process by requiring nothing more than signing your name in ink on a piece of paper and mailing it to them, or perhaps calling on a phone during business hours to reach a human who can ...
by NotWhoYouThink
Tue Jun 11, 2019 9:18 am
Forum: Investing - Theory, News & General
Topic: Will Dollar Cost Averaging Result in a Tax Preparation Nightmare?
Replies: 23
Views: 2205

Re: Will Dollar Cost Averaging Result in a Tax Preparation Nightmare?

You need to check with your custodian before you buy and before you sell. Schwab makes using Specific ID for mutual funds as difficult as possible, it seems. Easy as pie with Vanguard.
by NotWhoYouThink
Mon Jun 10, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Late Life/End of Life Expenses
Replies: 38
Views: 3673

Re: Late Life/End of Life Expenses

Most of us won't need nursing home care, and few of us will need it for very long. For the unlucky few, many years in expensive nursing care will deplete resources. Which group will you be in, which group will I be in? Don't know, but don't plan to pay for 20 years a $100k/year care, indexed for inf...
by NotWhoYouThink
Mon Jun 10, 2019 12:08 pm
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

If you are paying for college, you can set requirements like making his grades available, and taking PE classes or joining an intramural team. My parents required 2 years of a foreign language, even though my degree didn't require that. I figured it out.
by NotWhoYouThink
Mon Jun 10, 2019 11:44 am
Forum: Personal Consumer Issues
Topic: Sports classes in Universities
Replies: 60
Views: 3363

Re: Sports classes in Universities

Just curious how we could see if any such courses are offered at his university (short of calling and talking with staff over there I would say)? Not specifically these sports - any other sports too! The larger question is whether your son has the skills to navigate the university requirements for ...
by NotWhoYouThink
Mon Jun 10, 2019 11:31 am
Forum: Personal Investments
Topic: Financial guidance for the elderly - Dementia and personal finance.
Replies: 11
Views: 1575

Re: Financial guidance for the elderly - Dementia and personal finance.

Since there is a trustee, does that mean that the money is already in a trust, and that the trustee has authority to make or change investments? That's a pretty important point to resolve first, because it means that even if your friend cannot make or understand the decisions, he already has named s...
by NotWhoYouThink
Sun Jun 09, 2019 9:10 am
Forum: Personal Investments
Topic: How to protect your IRA, 401k, savings in Retirement??? - Trust Fund?
Replies: 5
Views: 949

Re: How to protect your IRA, 401k, savings in Retirement??? - Trust Fund?

The someone you talked to didn't know what he/she was talking about.
by NotWhoYouThink
Fri Jun 07, 2019 8:02 am
Forum: Personal Investments
Topic: How to question for reinvesting rollerover: lump investment or spread over time?
Replies: 8
Views: 482

Re: How to question for reinvesting rollerover: lump investment or spread over time?

How is the money invested now? If it is invested in a mix of equities and bonds, why would you pick June of 2019 as the time to go to all cash, then slowly buy your way back in? In other words, the rollover is just a clerical relocation of the assets. No need go back to zero and start all over, just...
by NotWhoYouThink
Wed Jun 05, 2019 5:34 pm
Forum: Investing - Theory, News & General
Topic: How do you talk to investment advisors socially?
Replies: 31
Views: 2033

Re: How do you talk to investment advisors socially?

Do you talk to doctors about medicine? Lawyers about lawsuits? Aerospace engineers about laminar flow? Usually at social events we'll talk about kids or dogs or the local sports or weather situations. With good friends, and in small groups, we can talk about politics. But seldom about how we go (or ...
by NotWhoYouThink
Wed Jun 05, 2019 5:25 pm
Forum: Personal Consumer Issues
Topic: Remove dead tree(s) from common ground?
Replies: 11
Views: 623

Re: Remove dead tree(s) from common ground?

You have an HOA? Let the HOA handle it. If they don't, threaten to sue them. Usually that would get their attention. A dead tree can spread diseases to living trees. Or talk with some neighbors and split the cost. Safety is more important than cost. Wow, that went nuclear fast. OP, we have a simila...
by NotWhoYouThink
Tue Jun 04, 2019 9:58 am
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 6955

Re: Do you drive old cars for long distance travels?

The only car we had break down on a trip was a brand new Dodge Caravan rental in 1992. Oh, and a newer Peugot rental in France. On Mont Ventieux, forgot about that one. The old family roadsters are well-maintained and have performed well on trips.
by NotWhoYouThink
Mon Jun 03, 2019 6:14 pm
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 6955

Re: Do you drive old cars for long distance travels?

Sure, the 2003 Honda Odyssey crossed over 200K miles somewhere between Austin and Chicago as we helped our daughter haul her stuff that way. The important thing was that the air conditioning worked. Now she could have managed the move without our help, but our moving services hit a good price point ...
by NotWhoYouThink
Mon Jun 03, 2019 10:09 am
Forum: Personal Investments
Topic: Frustrated over in-laws investments
Replies: 14
Views: 1683

Re: Frustrated over in-laws investments

People aren't often going to take your financial advice, even if you mean well and know better. Same for advice on diet and exercise. They might listen, but are unlikely to change their behavior. Just accept that that's the case. Adults are allowed to make their own decisions about where to live, wh...
by NotWhoYouThink
Mon Jun 03, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Invited to vacation house then surprised with expenses—what now?
Replies: 64
Views: 3685

Re: Invited to vacation house then surprised with expenses—what now?

My family is normal, everyone else's family is weird. That's important to know. The way you grew up thinking things should be done isn't the way others grew up thinking things should be done. There is no right or wrong (except how my family does it, which is right) but there is a lot of different. I...
by NotWhoYouThink
Thu May 30, 2019 6:35 am
Forum: Personal Consumer Issues
Topic: Risk of burn in with OLED TVs
Replies: 9
Views: 1087

Re: Risk of burn in with OLED TVs

No problems after 2 years. Great picture, though.
by NotWhoYouThink
Wed May 29, 2019 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Home sale (Estate)
Replies: 33
Views: 1413

Re: Home sale (Estate)

Thank you for all the replies about my question. Obviously, there is a range of opinions on the best route forward, just like in my family! There seems to be a lot of concern about the impact on family relationships. I'm not. All of my brothers and sisters, and I, will accept and support decisions ...
by NotWhoYouThink
Wed May 29, 2019 6:49 am
Forum: Personal Finance (Not Investing)
Topic: "Soft" question on student loans
Replies: 72
Views: 3041

Re: "Soft" question on student loans

There is no single correct formula for "financial parenting." Perhaps you are trying to impose your non-financial values upon clients who do not share the same values and that is frustrating you? This is possible. But it's less about "values" and more about "fungibility" and behavioral finance. Are...
by NotWhoYouThink
Tue May 28, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: "Soft" question on student loans
Replies: 72
Views: 3041

Re: "Soft" question on student loans

Posters on this site are consistently negative toward undergraduate student loan debt, for reasons mentioned by NYCPete. You have to die to get out of it, unlike car or home loans which can be discharged in bankruptcy. Second, if you feel like they are more entitled to your assets than you are, then...
by NotWhoYouThink
Mon May 27, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Elderly Parent's Home In Need of Major Repairs
Replies: 44
Views: 3831

Re: Elderly Parent's Home In Need of Major Repairs

What if he lives 25 more years? What if he has a stroke next year and needs 5-10 years of skilled nursing care? Taking on the maintenance and upgrades on a house you don't own, for an indefinite time period, seems like a bad plan. He's asking you to put money into betting on the local housing market...
by NotWhoYouThink
Sun May 26, 2019 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Completely freaked out about withdrawing from retirement accounts....
Replies: 75
Views: 10210

Re: completely freaked out about withdrawing from retirement accounts....

OP, for the sake of your kids or whoever will feel obligated to take care of you as you age, PLEASE get over your worry about spending money. Read the wiki on variable withdrawal rates, see a counselor, do your own research, but get over the idea that this money is to save and not to spend. You are ...
by NotWhoYouThink
Sat May 25, 2019 3:14 pm
Forum: Personal Investments
Topic: Rethinking Individual Stocks
Replies: 76
Views: 7169

Re: Rethinking Individual Stocks

No serious person argues that no one has succeeded, or can succeed, with individual stocks. There are plenty of counter-examples, so of course owning individual stocks can work. The argument for indexing is that owning individual stocks is riskier - you could have extreme high performance, or you co...
by NotWhoYouThink
Sat May 25, 2019 10:55 am
Forum: Personal Consumer Issues
Topic: is A in accelerated better than B in honors for undergrad application.
Replies: 22
Views: 1776

Re: is A in accelerated better than B in honors for undergrad application.

For a highly competitive university, the correct answer is that it takes an A in the honors course. For most of the rest it won't matter.

At my niece's high school graduation this week, 100 of the 500 graduates had a weighted GPA of 4.0 or higher.
by NotWhoYouThink
Fri May 24, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2924

Re: Do you think we can stop funding our 529 plan?

If you remove money from the 529 and don't spend it on qualified educational expenses for the beneficiary, you pay tax (at ordinary income rates, not capital gains) on the earnings, plus a 10% penalty on the earnings. If the beneficiary gets a scholarship, you can remove the amount of the scholarshi...
by NotWhoYouThink
Thu May 23, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3454

Re: Payable On Death Account to Complement Will

You know what they say about leading a horse to water. Attorneys can give you checklists and request that you schedule follow-up visits to verify that you have completed all the needed steps, but they can't force you to get it done. And people are pretty good about avoiding tasks that stress them, w...
by NotWhoYouThink
Thu May 23, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2924

Re: Do you think we can stop funding our 529 plan?

Back to funding the 529 - you live in Utah? I hear from another poster that your state has some high quality affordable public options. So certainly take that into account. But also take into account that it is cheaper for you to pay for those options with 529 funds that grew tax free than with sale...
by NotWhoYouThink
Thu May 23, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2924

Re: Do you think we can stop funding our 529 plan?

It's ok to save for college even before you have fully secured your retirement funding. You can contribute both to 401k/IRA and 529 as early and for as long as you like. If you are determined to retire at the earliest possible date, and are not at all sold on footing the bill for college you might c...
by NotWhoYouThink
Wed May 22, 2019 6:57 pm
Forum: Investing - Theory, News & General
Topic: How does the charitable fund deduction work?
Replies: 20
Views: 1036

Re: How does the charitable fund deduction work?

At least 2 differences between donating to a DAF and donating directly that may be of interest. - Megacorp will match my donations to certain non-profits (not churches, but yes to educational institutions, for example). They will not match donations to or from a DAF. - My state gives me tax credits ...
by NotWhoYouThink
Tue May 21, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11305

Re: Should I encourage my kids to work in high school/college?

There is no right answer. Kids need responsibilities, and need to learn some discipline and how to work with and for people. They can do that at a paying job, as a member of a sports team, or in volunteer activities. Their lessons working at McDonald's will be different from the lessons on the varsi...
by NotWhoYouThink
Tue May 21, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 17948

Re: Very High Net Worth, elite private or “good” public

I don't want to drag this topic any further. My intention from the beginning was not to compare various education systems around the world - useless and not actionable - but to obtain an understanding why sports and arts are seen as part a good school while academics are of much less concern. Which...
by NotWhoYouThink
Mon May 20, 2019 7:50 pm
Forum: Personal Investments
Topic: Convince me that a 529 plan is a good idea.
Replies: 42
Views: 3198

Re: Convince me that a 529 plan is a good idea.

I understand that the 529 comes first when financial aid is calculated. I can be wrong, but I think 529 is for those have a lot of money or those plan to go to state colleges, since you cannot get much financial aid either way. I just don't feel comfortable with the idea that I am tied to pay for m...
by NotWhoYouThink
Sun May 19, 2019 1:47 pm
Forum: Personal Consumer Issues
Topic: Guidance to Parents With Kids Majoring Computer Science
Replies: 25
Views: 2369

Re: Guidance to Parents With Kids Majoring Computer Science

In what world do companies hire graduates who did what they did because their parents "had them" do it, rather than because the graduates made those choices themselves? Maybe this is good advice to CS students, maybe not. But their parents have better things to do than micromanage their education an...
by NotWhoYouThink
Sat May 18, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: At what NW do I have disposable income?
Replies: 85
Views: 5966

Re: At what NW do I have disposable income?

Net worth has little to do with discretionary income, during working years or in retirement. I used to save ~20% of gross for retirement and spend the rest with wild abandon. Now in retirement, I spend even more. It has to do with your level of income compared to Basic Expenses. If your Basic Expen...
by NotWhoYouThink
Sat May 18, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance - how much? group vs individual fixed term
Replies: 8
Views: 672

Re: Life insurance - how much? group vs individual fixed term

Price out an individual term policy outside work and if cheaper dump the group insurance and the horrible plans you have outside work (scam Whole Life and renewable annual term). Term insurance outside work is highly recommended even if it costs a little more because if you lose your job and still ...
by NotWhoYouThink
Sat May 18, 2019 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 17948

Re: High net worth, elite private or “good” public

Private. Attending the private school was a life-changing event for one of my kids, and an improvement in the life of the other. This is in spite of the fact that the public school in our area was a very well regarded public school system, frequently ranked among the best in the nation. But, they w...
by NotWhoYouThink
Fri May 17, 2019 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Probate costs?--I am the sole heir and the executor
Replies: 65
Views: 5805

Re: Probate costs?--I am the sole heir and the executor

Your original post was a little confusing - you have 2 sisters, or your father had 2 sisters?