Search found 9104 matches

by celia
Sat Apr 20, 2019 5:02 pm
Forum: Personal Consumer Issues
Topic: For those who like travel, when did you retire and where are the most exciting places you travelled to?
Replies: 66
Views: 3747

Re: For those who like travel, when did you retire and where are the most exciting places you travelled to?

I'm really into genealogy and most of our travel has been to places where ancestors once lived or came from. It really doesn't matter where they came from but if you want to know why your famliy moved or what is was like 100 years ago, it really helps if you go there and meet the relatives who staye...
by celia
Sat Apr 20, 2019 3:14 pm
Forum: Investing - Theory, News & General
Topic: a percentage decline is MORE than that decline OF YOUR GAINS??
Replies: 25
Views: 1579

Re: a percentage decline is MORE than that decline OF YOUR GAINS??

4. Volatility Drag is a matter then of thinking of returns as such: In year 1, My return was 20% In year 2 My return was 20% In year 3 my return was -40% What was my return. Using elementary school math, (20 + 20 + -40)/3 = 0 Obviously, each percentage was applied to a different base amount so you ...
by celia
Sat Apr 20, 2019 2:53 pm
Forum: Investing - Theory, News & General
Topic: a percentage decline is MORE than that decline OF YOUR GAINS??
Replies: 25
Views: 1579

Re: a percentage decline is MORE than that decline OF YOUR GAINS??

LOSS OF GAINS is nonsense. (Well, it can be thought of it that way, if you want, but is it gains in the last day, week, 58 days, year or what? You will keep changing your timeframe.) If you are talking about gains or losses on your principal, the custodian will show you the amount. But what if you r...
by celia
Sat Apr 20, 2019 2:14 pm
Forum: Personal Investments
Topic: Should I start doing Roth Conversions and if so
Replies: 43
Views: 2036

Re: Should I start doing Roth Conversions and if so

Hmmm ... I really shouldn't be doing this marginal tax stuff in my head.... Agreed - that's what spreadsheets are for. ;) I think the best way to look at it is for Shaneman to get tax software and play with it. There are other things that might be triggered that we don't think about. Although Flori...
by celia
Sat Apr 20, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Canada/Permanent US Resident- Does anyone pay capital gain when house is inherited?
Replies: 10
Views: 230

Re: Does anyone pay capital gain when house is inherited?

Assuming the house and the beneficiary are in the U.S. (or the beneficiary was a US citizen living anywhere), there would be no capital gains if the house was sold within a few months after death (unless you can determine that the value increased during those few months). If the beneficiary or house...
by celia
Sat Apr 20, 2019 1:35 pm
Forum: Personal Investments
Topic: Should I start doing Roth Conversions and if so
Replies: 43
Views: 2036

Re: Should I start doing Roth Conversions and if so

So any Roth Conversions will result is an additional 3.8 percent Net Investment Income Tax (NIIT). I would just ignore this in your decision-making process since you are going to pay it on your tax-deferred accounts whether you convert, withdraw or take RMDs. The money you gift as QCDs will not hav...
by celia
Sat Apr 20, 2019 11:53 am
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzle: Findings from a Recent Survey
Replies: 29
Views: 1704

Re: The Annuity Puzzle: Findings from a Recent Survey

I didn't read the links but suspect the survey interviewed people representing various ages, even under 65. I wouldn't expect those under 65 to be interested at all and they likely wouldn't know anyone (except their parents, if still living) who might have one. Since it is better to wait as long as ...
by celia
Sat Apr 20, 2019 11:38 am
Forum: Personal Investments
Topic: Is it better to borrow from 401(k) or withdraw from ROTH for a downpayment?
Replies: 15
Views: 552

Re: Is it better to borrow from 401(k) or withdraw from ROTH for a downpayment?

Postpone buying a house until you have both an ER and down payment. Houses are money pits. You will want to fix this and that. Buy an appliance. Get a new curtains. Etc. Meanwhile you could get sick and not be able to work for a month. The mortgage (and property taxes and homeowner's insurance) woul...
by celia
Sat Apr 20, 2019 1:08 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions, taxes, and social security
Replies: 20
Views: 1893

Re: Roth conversions, taxes, and social security

Have 2.9M total in tax sheltered accounts (wife IRA, my 403b,457,401k). Will likely continue to add to 401k up to age 59, so tax sheltered monies may be 3.1M or so. Looking at RMD calculators, the estimated RMD amount at 70.5 is pretty large, anywhere from 150-200k/year, which obviously push us int...
by celia
Fri Apr 19, 2019 11:47 am
Forum: Personal Investments
Topic: Limit on Roth Conversions per year with a Backdoor?
Replies: 15
Views: 649

Re: Limit on Roth Conversions per year with a Backdoor?

Another option is to Rollover part of the tIRA to your 401k and convert part of it, thus controlling how much more taxable income (the converted amount) you will have for the year. Of course, the nontaxable contribution will also be taxable for this year, because it will be non-deductible (taxed wit...
by celia
Wed Apr 17, 2019 11:51 pm
Forum: Personal Consumer Issues
Topic: Screening Buyers of Goods on Craigslist
Replies: 30
Views: 2773

Re: Screening Buyers of Goods on Craigslist

I've noticed that when I place or renew an ad, in the first few hours after that, there is a flurry of responses and then hardly anything. What explains this? As time goes on, newer listings appear. I think people tend to read the latest <whatever>, so they may not make it as far as your listing. B...
by celia
Wed Apr 17, 2019 6:33 pm
Forum: Personal Investments
Topic: tIRA and 401k RO - Commingled dollars and consequences
Replies: 6
Views: 259

Re: tIRA and 401k RO - Commingled dollars and consequences

The pre-tax amounts: $4228.51 - 2004 $4204.01 - 2007 The after-tax contribution over time is about $3,125 Right now, the only post-tax money in the account is $3,125 and it should have been reported as Traditional IRA contributions THAT WERE NON-DEDUCTIBLE. If you didn't report the contributions as...
by celia
Tue Apr 16, 2019 12:32 am
Forum: Personal Investments
Topic: Would it be better to invest my cash in VMFXX or VMSXX ?
Replies: 6
Views: 1223

Re: Would it be better to invest my cash in VMFXX or VMSXX ?

35% marginal federal tax bracket 5.1% state income tax 0.9% High-Income Earner so I need to pay Obamacare Tax 41.9% Total taxes If this was meant to add up the 3 percentages, the sum is 41.0%, instead of 41.9%. But I would not have figured this out in the same way. I would have kept the federal and...
by celia
Mon Apr 15, 2019 4:08 pm
Forum: Personal Consumer Issues
Topic: seriously thinking about leaving S. CA but where to?
Replies: 177
Views: 9640

Re: seriously thinking about leaving S. CA but where to?

I think most places between Malibu and Redondo Beach would meet your criteria! :beer
by celia
Mon Apr 15, 2019 4:00 pm
Forum: Personal Investments
Topic: $1.1 million rental portfolio, but tired of being a landlord
Replies: 86
Views: 10145

Re: $1.1 million rental portfolio, but tired of being a landlord

OP, Managing and repairing these properties currently **IS** your job and you can do it in less than 10 hours a week. Pretty good, I would say as a job or an investment. What do you like about this job? What DON’T you like about this job? What aspects are neutral for you? If you can make the separat...
by celia
Sun Apr 14, 2019 4:20 pm
Forum: Personal Consumer Issues
Topic: Anyone have a child model?
Replies: 42
Views: 4488

Re: Anyone have a child model?

If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K... Nope, try $4.6 million. Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just checked using the...
by celia
Sun Apr 14, 2019 3:40 pm
Forum: Personal Consumer Issues
Topic: What about IEOR at Berkeley vs CS at UMich/UCLA?
Replies: 52
Views: 2938

Re: What about IEOR at Berkeley vs CS at UMich/UCLA?

At both UC schools, I think on-campus housing is only for freshmen. So during freshman year, you need to start making friends who could be potential roommates. My SIL went to both UCLA undergrad and USC for law school. I would put UCLA different than most big city universities. There were not a lot ...
by celia
Sat Apr 13, 2019 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 108
Views: 6086

Re: Trust investment choices for a difficult beneficiary

The words “without regard to the interests of the remainder men” implies that an annuity is fine. BUT, the simple fact that remainder men are included at all heavily implies that there should be something remaining. Or else, the trust could have specified the annuity to begin with. But it didn’t. S...
by celia
Sat Apr 13, 2019 9:54 pm
Forum: Investing - Theory, News & General
Topic: Converting tIRA to Roth during market dips? (long)
Replies: 1
Views: 315

Re: Converting tIRA to Roth during market dips? (long)

What are the downsides of making a full contribution to a traditional IRA for tax year 2019 with the condition that if the market dips in 2019 like it last December, convert some tIRA holdings to Roth to capture the dip's tax advantages? If you were going to do that, you might as well wait until th...
by celia
Sat Apr 13, 2019 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to avoid throwing money at problems?
Replies: 62
Views: 4143

Re: How to avoid throwing money at problems?

Two adults working 60 hours a week each plus a baby!

That will not give you any time to do the simple things in life. What are your joint priorities in life? Then are you spending your time to help make those priorities happen?
by celia
Sat Apr 13, 2019 7:58 pm
Forum: Personal Consumer Issues
Topic: Soon to be dad, how to prepare
Replies: 127
Views: 5831

Re: Soon to be dad, how to prepare

Get some sleep.

NOW!
by celia
Sat Apr 13, 2019 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 108
Views: 6086

Re: Trust investment choices for a difficult beneficiary

Whenever I read threads like this it always makes me wonder how children from the same parents can turn out so differently. OP, you sound reliable and responsible - which is probably how you landed the role of trustee. Your brother, on the other hand, sounds like a disaster waiting to happen. (Sorr...
by celia
Sat Apr 13, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 108
Views: 6086

Re: Trust investment choices for a difficult beneficiary

Why does the trustee need to get the approval of the beneficiary? Does the trust recommend that? The fact that the beneficiary is "difficult" is irrelevant to the trustee doing the best job he/she can. Assume the beneficiary is not communicating with you (for decision-making purposes) and continue d...
by celia
Sat Apr 13, 2019 3:56 am
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 108
Views: 6086

Re: Trust investment choices for a difficult beneficiary

I realized my original post was confusing. I meant to say that the payout would increase by $20,000 from $38,000 to $58,000. If you do go with a fixed annuity, I suggest NOT giving the beneficiary anything near $58k a year. As inflation goes up over time, you will be unable to increase his monthly ...
by celia
Sat Apr 13, 2019 3:19 am
Forum: Personal Consumer Issues
Topic: Received wrong vaccine...
Replies: 34
Views: 2930

Re: Received wrong vaccine...

I'm a doctor, but if I had a person like you (no offense meant) who is VERY specific about wanting x, y, and z for whatever reason I would just say no thanks and tell you to find another doctor as I don't like to be told how to practice. He/ she did not do that so they by definition agreed with you...
by celia
Fri Apr 12, 2019 6:37 pm
Forum: Personal Investments
Topic: Investing gift from grandma
Replies: 46
Views: 2864

Re: Investing gift from grandma

I see another potential objective here and that is learning about books/ reading. If grandma or the child will be getting an annual report with pictures in it, it would be great to "read" it with the child. Motley Fool says good stocks for kids are Disney, Hasbro, and Microsoft. Mattel is also a con...
by celia
Fri Apr 12, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Own/Operate a Funeral Home?
Replies: 16
Views: 1743

Re: Anyone Own/Operate a Funeral Home?

Check to see if there are zoning issues and if existing tenants would mind. Funeral homes would need cold storage rooms and parking for visitors to attend a viewing and/or rosary which would be a day or two before the funeral day. As funeral directors and embalmers need to be licensed by the state, ...
by celia
Fri Apr 12, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Any way I can hire my parents?
Replies: 45
Views: 2237

Re: Any way I can hire my parents?

If you, as a business, pay him over $600 a year for services, you need to file a Form 1099-MISC for him so they can look for him to report it on his taxes. He will need a SSN for you to generate the form. If you are gifting him over the annual gift tax exclusion (currently $15,000 a year), you also ...
by celia
Fri Apr 12, 2019 12:59 pm
Forum: Personal Investments
Topic: Two Physicians Roth and Taxable Account Questions
Replies: 5
Views: 681

Re: Two Physicians Roth and Taxable Account Questions

I was planning on following this guide. https://www.physicianonfire.com/backdoor/ The part of that post that says contributions default to the previous year, is only true until April 15. The intent is to remind you to contribute for the previous year if you are eligible and have not yet done so, be...
by celia
Fri Apr 12, 2019 3:42 am
Forum: Investing - Theory, News & General
Topic: Baby boomer vicious cycle crash
Replies: 63
Views: 5502

Re: Baby boomer vicious cycle crash

Hopefully 6 years away from retirement and my biggest fear is that I'm on the trailing end of the Baby boomer generation . If your fears were to be happen, wouldn't the fact that the buldge of baby boomers (about 10 years older than you) mean that the most damage would impact them, more than you? W...
by celia
Fri Apr 12, 2019 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Quality control for tax returns
Replies: 15
Views: 1707

Re: Quality control for tax returns

BTW, I remember years ago a publication (I believe the Sunday magazine in the Chicago Tribune) created a couple tax scenarios (fake families with income, expenses, etc) and gave it to dozens of tax firms. No two results matched. The variance of tax owed was wide. Wow, pretty disturbing. I don't kno...
by celia
Thu Apr 11, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I close a Roth IRA account?
Replies: 20
Views: 1211

Re: Should I close a Roth IRA account?

What does your wife think? It's her account. She does not care about the account. She doesn't even know how much is in it. She doesn't have any savings and doesn't earn any money. I'm in charge of everything financially. I opened a roth ira for her with my money because I thought it was the smart t...
by celia
Thu Apr 11, 2019 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Torment from the IRS
Replies: 16
Views: 2294

Re: Torment from the IRS

Independent George wrote:
Thu Apr 11, 2019 1:55 pm
But will they accept a Trillion Dollar Bill?
Yes, just mail it by itself in an unmarked envelope. That's what I usually do and I've never had a problem.
by celia
Wed Apr 10, 2019 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice and Medicare Advantage Plans - a little known Catch22
Replies: 40
Views: 3072

Re: Hospice and Medicare Advantage Plans - a little known Catch22

So, it seems that you should sign a patient up to start hospice on the first of the month. So if your husband gets terminal cancer on in terrible pain on the 5th of the month you are okay with waiting to next month to start hospice? Of course not. I was saying that from an insurance perspective. No...
by celia
Wed Apr 10, 2019 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Wife hates new job...wants to quit after 1 day
Replies: 191
Views: 18169

Re: Wife hates new job...wants to quit after 1 day

After that DAY 1, there was nowhere to go but up. Hope the next few days are even better.

PS. I would encourage her to keep her ears open for other new employees coming aboard. Maybe they are also "agents of change".
by celia
Wed Apr 10, 2019 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice and Medicare Advantage Plans - a little known Catch22
Replies: 40
Views: 3072

Re: Hospice and Medicare Advantage Plans - a little known Catch22

I was responsible for my uncle who we placed in assisted living (over 10 years ago). When he needed hospice care, I was informed that I could no longer seek preventive care for him, only hospice services. Since we had an upcoming appointment for a second opinion regarding his most serious issue, the...
by celia
Wed Apr 10, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning for Mother in Law
Replies: 39
Views: 1799

Re: Estate Planning for Mother in Law

Thank you for that information. I assume the trust would issue some type of K1? And who would be responsible for generating that K-1? The trustee (or her accountant). A K-1 usually isn't generated until the end and there is some gain or loss that the beneficiaries would share in reporting on their ...
by celia
Wed Apr 10, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard consolidated statement
Replies: 5
Views: 451

Re: Vanguard consolidated statement

Is there a way to have my multiple accounts reported on one master statement? Be careful what you ask for. If you are referring to quarterly or year-end statements, note that the pages of the different accounts can end up being printed on the back side of another account. This prevents you from sep...
by celia
Wed Apr 10, 2019 1:31 pm
Forum: Investing - Theory, News & General
Topic: Socially Responsible [Investing]
Replies: 54
Views: 3064

Re: Socially Responsible

Why should socially responsible companies be expected to do worse? I would expect them to do worse because they are using some of their product/ money/ manpower/ time to do something extra that their competitors (who don't claim to be socially responsible) don't do. For example, if they recycle eve...
by celia
Wed Apr 10, 2019 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning for Mother in Law
Replies: 39
Views: 1799

Re: Estate Planning for Mother in Law

I have suggested that she should see an attorney to draft a revocable trust and express those wishes. I have suggested that she make my wife the trustee so I/we can continue managing the investments at Vanguard. You should know that taxes on a trust can be brutal. The longer the trust lasts, the mo...
by celia
Wed Apr 10, 2019 4:54 am
Forum: Personal Finance (Not Investing)
Topic: The high cost of sound financial advice
Replies: 45
Views: 4841

Re: The high cost of sound financial advice

I don't think there is any correlation between "cost" and "sound financial advice". You can get good advice for free right here or from some advisors.

I think this thread and the referenced article by Michael Kitces is an overview of what you are looking for.
by celia
Wed Apr 10, 2019 4:33 am
Forum: Investing - Theory, News & General
Topic: Socially Responsible [Investing]
Replies: 54
Views: 3064

Re: Socially Responsible

Why should socially responsible companies be expected to do worse? I would expect them to do worse because they are using some of their product/ money/ manpower/ time to do something extra that their competitors (who don't claim to be socially responsible) don't do. For example, if they recycle eve...
by celia
Tue Apr 09, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Are life insurance basically scams?
Replies: 43
Views: 1791

Re: Are life insurance basically scams?

Good day, I'm 22 years old, single, and no dependents. Should I avoid life insurance premiums like plagues? Are life insurances borderline scams? Have you ever heard of a 22-year old who was crossing the street and was hit by a car/truck? Although I would be sorry to hear about that, the 22-year-ol...
by celia
Tue Apr 09, 2019 3:58 pm
Forum: Personal Investments
Topic: Roth conversions with an increasing pretax 401k account
Replies: 4
Views: 357

Re: Roth conversions with an increasing pretax 401k account

Good observation! The tax-deferred account will continue to grow as long as the rate of growth is more than the rate of withdrawal. Minimum withdrawal rates start at 3.65% a year and increase each year. That said, doing some Roth conversions will at least keep the account smaller than if conversions...
by celia
Tue Apr 09, 2019 3:31 pm
Forum: Personal Investments
Topic: open back door Roth, wise decision?
Replies: 17
Views: 832

Re: open back door Roth, wise decision?

If you are willing to convert the existing money in your IRA and pay taxes on the conversion, go ahead and do that when you convert your new nondeductible contribution. The nondeductible contribution won't be taxed, just the rest of the conversion. Since growth in the Roth will be tax-free (as long ...
by celia
Mon Apr 08, 2019 3:05 pm
Forum: Personal Investments
Topic: How to get 403(b) for a small non-profit?
Replies: 4
Views: 232

Re: How to get 403(b) for a small non-profit?

In California, contact CalNonprofits.org. See Risk Management section here: https://calnonprofits.org/exclusive-discounts-menu

I believe there is another similar organization for nationwide benefits but don't recall the name. CalNonprofits could probably tell you who to contact.
by celia
Mon Apr 08, 2019 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part B, while still insured
Replies: 19
Views: 1079

Re: Medicare Part B, while still insured

If you don't apply for Part B and a Medicare supplemental plan (ie, Medigap) when you are 65 or when you retire, you may have to undergo medical underwriting to get a Medicare supplemental plan when you do start.
by celia
Mon Apr 08, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: [Do I owe tax on Traditional to Roth IRA conversion?]
Replies: 12
Views: 1237

Re: [Do I owe tax on Traditional to Roth IRA conversion?]

Cas , Here are the things you need to know: The 1099-R for a recharacterization has a different Distribution Code in box 7 of the 1099-R compared to a Roth conversion. Recharacterizations are coded "N" or "R" depending on if the recharacterization was done in the same year as the contribution or no...
by celia
Mon Apr 08, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: After importing 1099-DIVs and 1099-Rs, what do you "clean up"?
Replies: 8
Views: 825

Re: After importing 1099-DIVs and 1099-Rs, what do you "clean up"?

Check that the qualified dividends are actually qualified for your holding period? The fund, not the taxpayer, would need to hold dividend-paying assets for over a year. But I recently read the fund (and the taxpayer) would have had to hold the security in the fund for 60 days before the x-dividend...
by celia
Mon Apr 08, 2019 2:13 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 help
Replies: 4
Views: 495

Re: form 8606 help

Form 8606 can seem tricky and lots of tax preparers are not familiar with it. I will assume your 2017 Form 8606 listed $5,500 on lines 1, 3, and 14. Line 14 shows the remaining basis (nondeductible contributions) that carries over to the following year. I am guessing you are not carrying that over f...