Search found 8034 matches

by celia
Sun Aug 19, 2018 12:28 am
Forum: Personal Finance (Not Investing)
Topic: What kind of medical events that may ruin your retirement?
Replies: 21
Views: 1284

Re: What kind of medical events that may ruin your retirement?

The problem is that we plan to travel around the world at least for the first 5 years in our retirement and will spend very little time in the U.S. Having a U.S. based medical insurance seems to be a waste of money. You plan to be out of the country for 5 straight years? I could not figure out othe...
by celia
Sun Aug 19, 2018 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Apartment Decision After Divorce- Please evaluate my thinking
Replies: 21
Views: 1428

Re: Apartment Decision After Divorce- Please evaluate my thinking

celia wrote:
Sat Aug 18, 2018 7:57 pm
MJS wrote:
Sat Aug 18, 2018 7:51 pm
Investigate smart or noise cancelling earplugs, like Hush or Adept.
If you do, don't wear them when the child is over, even when you think (s)he is sleeping. You need to hear what is going on in your apartment.
by celia
Sat Aug 18, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Your major and investing/finance?
Replies: 51
Views: 1635

Re: Your major and investing/finance?

Love math. Compounding is amazing! But it is important to start early so the compounding has more time to work. I also volunteer for lots of things. In a way, it is entertaining to do tax returns for others and see what they spend their money on. I also learn from them (ie, what not to do). (AARP Ta...
by celia
Sat Aug 18, 2018 8:30 pm
Forum: Personal Consumer Issues
Topic: Credit Card Fraud - $30K
Replies: 37
Views: 2597

Re: Credit Card Fraud - $30K

How was that possible? This account was compromised from the web , not from using the card number or physical card. ...Someone needed my ID and Password to get into the system, ... How do you know this? Did they tell you this? I would be surprised if they shared this with you. I think it is more li...
by celia
Sat Aug 18, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Apartment Decision After Divorce- Please evaluate my thinking
Replies: 21
Views: 1428

Re: Apartment Decision After Divorce- Please evaluate my thinking

MJS wrote:
Sat Aug 18, 2018 7:51 pm
Investigate smart or noise cancelling earplugs, like Hush or Adept.
If you do, don/t wear them when the child is over, even when you think (s)he is sleeping. You need to hear what is going on in your apartment.
by celia
Sat Aug 18, 2018 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Apartment Decision After Divorce- Please evaluate my thinking
Replies: 21
Views: 1428

Re: Apartment Decision After Divorce- Please evaluate my thinking

Ummm, There's one tiny, toddler thing you are forgetting about. 1. I am going through a divorce, will have joint custody of very young baby/toddler. If you have joint custody, I assume the tiny one will stay with you occasionally. There's no way I would want to be in a place high up with a toddler. ...
by celia
Sat Aug 18, 2018 2:40 pm
Forum: Investing - Help with Personal Investments
Topic: Making money last through retirement
Replies: 26
Views: 4298

Re: Making money last through retirement

I think your son has a good chance of getting financial aid for college. You/he will be applying for it at the same time he is applying to get in. Most colleges grant aid using the FAFSA and some colleges have their own form in addition. Private colleges tend to have bigger endowments than the publi...
by celia
Sat Aug 18, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: How to raise cash to pay living expenses in near term (nine months)?
Replies: 22
Views: 919

Re: How to raise cash to pay living expenses in near term (nine months)?

Don't you have an Emergency Fund? This is exactly why you need one. As far as an early withdrawal on the CD, why don't you ask them to calculate the penalty if $20K is withdrawn now, $20K withdrawn in 3 months, and $10K withdrawn in 6 months. You need to know the exact dollar amount. But a better id...
by celia
Sat Aug 18, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Negative Insurance Discount with United Health Care and Sentara
Replies: 39
Views: 1795

Re: Negative Insurance Discount with United Health Care and Sentara

This sounds like the service provided didn't fall within the range of services covered by the contract between UH and Sentara or it wasn't medically necessary or wasn't long enough since the last xray for TB. Celia, No. If this is anything like what happened to me, the procedure was covered, and th...
by celia
Sat Aug 18, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Negative Insurance Discount with United Health Care and Sentara
Replies: 39
Views: 1795

Re: Negative Insurance Discount with United Health Care and Sentara

What if Sentara (the service provider) had billed your insurance $380 and insurance said it was not medically necessary (which could be the case here). If the insurance would have paid the contracted price, you may not have owed anything. But since they didn't pay, you owe it. Had that happened, wou...
by celia
Sat Aug 18, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: How to Treat "Negative" Basis in Nondeductible IRA
Replies: 39
Views: 1351

Re: How to Treat "Negative" Basis in Nondeductible IRA

I learned this (leaving a small amount behind when you convert) from a post by Alan S., I think.

He'll probably show up soon. I'll message him.
by celia
Sat Aug 18, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: How to raise cash to pay living expenses in near term (nine months)?
Replies: 22
Views: 919

Re: How to raise cash to pay living expenses in near term (nine months)?

What is the early withdrawal penalty on the CD? The penalty won't apply to the whole account, but just the part withdrawn. With CD rates so low, that will likely be your least "cost". If you withdraw the whole $50K, you could then put some of it in a 6 month and a 3 month CD, thus still getting some...
by celia
Sat Aug 18, 2018 1:32 am
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

My parents who are in their early 80’s have offered me the choice of inheriting 1 million from their TIAA retirement account or 1 million from their bank account CD’s upon their passing. I understand that the retirement account is not taxed yet, it will need required distributions based on my life ...
by celia
Sat Aug 18, 2018 12:31 am
Forum: Personal Finance (Not Investing)
Topic: How to Treat "Negative" Basis in Nondeductible IRA
Replies: 39
Views: 1351

Re: How to Treat "Negative" Basis in Nondeductible IRA

Suppose you do backdoor Roths every year. One year you forget to convert right away and the $5,500 drops to $5,000. Your basis (non-deductible contribution) is still 5.500. If you convert the $5,000 to Roth, then you will have a negative basis remaining (5,000 conversion minus its basis of 5,500). W...
by celia
Fri Aug 17, 2018 11:35 pm
Forum: Investing - Help with Personal Investments
Topic: High tax bracket - Go 100% Roth in tax advantaged?
Replies: 45
Views: 3322

Re: High tax bracket - Go 100% Roth in tax advantaged?

What do you mean by "switch everything to Roth"? Do you mean start contributing to the Roth part of your retirement plans? If so, the employer match still needs to go to tax-deferred, even if the plan can accept Roth contributions. If you mean you would convert all the pre-tax (over multiple years) ...
by celia
Fri Aug 17, 2018 7:55 pm
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 74
Views: 5487

Re: Elderly Relative Short on Money

randomguy wrote:
Fri Aug 17, 2018 4:40 pm
I think expecting them to work for free is pretty unrealistic.
It depends on your interests and skills, I guess. There are a lot of things we fix around the house for free. We often cook our own food. I do my own gardening, taxes, and woodworking. Why pay someone for something I WANT to do?
by celia
Fri Aug 17, 2018 7:47 pm
Forum: Personal Consumer Issues
Topic: Info on Al-Farabi Kazakh National University
Replies: 21
Views: 1569

Re: Info on Al-Farabi Kazakh National University

What would he like to do for a career and how do companies compare that university with others? (This is a rhetorical question.) Would they choose someone with education at that school over a traditional U.S. college education? It sounds like he would be intentionally putting himself at a disadvanta...
by celia
Fri Aug 17, 2018 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Question/Update on my Situation
Replies: 15
Views: 1721

Re: Question/Update on my Situation

soazfree, I won't have time to give this the full attention it needs for a few days, but want to give you something to think about in the meantime. This spreadsheet shows the growth of the tIRA at 5% and 8% if you DON'T do any Roth conversions: http://i64.tinypic.com/a9tuls.jpg As long as the growth...
by celia
Fri Aug 17, 2018 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 74
Views: 5487

Re: Elderly Relative Short on Money

Heck, I'm over 65 and manage assets for some elderly relatives. (80s and 90s is elderly to me.)

I would never think of charging them a fee as that would make them run out of assets sooner. :oops: As POA, I would then have a new problem to solve.
by celia
Fri Aug 17, 2018 4:52 am
Forum: Investing - Help with Personal Investments
Topic: Question/Update on my Situation
Replies: 15
Views: 1721

Re: Question/Update on my Situation

Do you realize that if you don't start withdrawing from the tIRA (for living expenses) or do Roth conversions, $3M at age 70.5 means you will have RMDs of $195K a year... This math is wrong RMDs start at 3.65% and go up from there. So a bit less than $120k the first years... You're right. My dyslex...
by celia
Fri Aug 17, 2018 4:32 am
Forum: Personal Finance (Not Investing)
Topic: Inherited House Sale as Capital Loss
Replies: 27
Views: 1083

Re: Inherited House Sale as Capital Loss

Gill, Here's another case for which I'd like your opinion.! A relative was one of the beneficiaries of an estate that included a house. The deceased died in 2015 and about 2 months later the trustee for the estate had the house formally appraised (as of date of death??) before it was listed for sale...
by celia
Fri Aug 17, 2018 2:00 am
Forum: Investing - Theory, News & General
Topic: Vanguard Switch to Brokerage Accounts
Replies: 53
Views: 4181

Re: Vanguard Switch to Brokerage Accounts

3. Today I went online to transfer some funds from our joint account to a Vanguard individual 401(k) account--something I have done in the past. Today the transfer option was not available, and when I called Vanguard I was told that transfers were not allowed from the new brokerage accounts. I was ...
by celia
Fri Aug 17, 2018 12:12 am
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 74
Views: 5487

Re: Elderly Relative Short on Money

Why do people think the medical expense part of this is tricky? She is on Medicare. If she needs LTC it would be foolish to pay that out of the $290K. She would simply convert the $290K into a Medicaid complaint annuity, start taking the annuity payments, and immediately qualify for Medicaid. It is...
by celia
Thu Aug 16, 2018 11:38 pm
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 74
Views: 5487

Re: Elderly Relative Short on Money

Her biggest cost will be rent, and she understandably has no desire to live in a dump. We are looking at a subsidized elderly housing unit that costs $1250 a month in rent. After utilities, it will probably be closer to $1400. Car insurance is $800 a year, and she has some small medical bills. Over...
by celia
Thu Aug 16, 2018 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance question - beneficiary is a spend thrift
Replies: 13
Views: 1547

Re: Inheritance question - beneficiary is a spend thrift

I would advise him to, 1) Speak with an attorney on how to set up a trust to achieve these goals. Pre-tax money does not impact this. 2) Not put his sister in the position to be in charge of his son's finances. That will probably not go well. A trust will not put the sister in charge of the son's f...
by celia
Thu Aug 16, 2018 10:49 pm
Forum: Investing - Help with Personal Investments
Topic: Question/Update on my Situation
Replies: 15
Views: 1721

Re: Question/Update on my Situation

I think I want to go ahead and complete the withdrawals from the Inherited IRA and just get it cleared from account, most likely. I'll use most of it up this year Sounds reasonable unless it puts you in a higher tax bracket. Does it? No it shouldn’t. What I didn’t mention is that this $7800/mon rep...
by celia
Thu Aug 16, 2018 10:28 pm
Forum: Investing - Help with Personal Investments
Topic: Question on Source of Roth Funding
Replies: 12
Views: 604

Re: Question on Source of Roth Funding

You are not a good candidate for the backdoor Roth since: You need earned income to CONTRIBUTE to any IRA (whether or not you convert it in the next step) Since you (jointly) have a lot of money in a tIRA already, the IRS would consider the new non-deductible contribution to be co-mingled with your ...
by celia
Thu Aug 16, 2018 10:11 pm
Forum: Investing - Help with Personal Investments
Topic: Question/Update on my Situation
Replies: 15
Views: 1721

Re: Question/Update on my Situation

Do you realize that if you don't start withdrawing from the tIRA (for living expenses) or do Roth conversions, $3M at age 70.5 means you will have RMDs of $195K a year, which would put you in the 24% tax bracket, even if it was your only income? (Do you expect to have SS or other income sources star...
by celia
Thu Aug 16, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

Thank you all for your thoughtful responses. I asked my parents to name me as beneficiary for 500k in bank CD’s and 500k in retirement account and they agreed. For those who are curious, the rest of the beneficiaries are charities and few other relatives. I requested this mix because they don’t hav...
by celia
Thu Aug 16, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Trust account at Vanguard with 2 trustees with separate logins
Replies: 16
Views: 1513

Re: Trust account at Vanguard with 2 trustees with separate logins

I'd like to provide an update, for the record, and for someone else who may live in a community property state, like California. DH and I have now both received inheritances which we have kept separate from joint assets because we have decided to have different beneficiaries and different goals for ...
by celia
Thu Aug 16, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

If he takes the 100% after tax CD and invests it in a total market index fund, won't everything but the dividends also be tax deferred? The dividends will only be taxed at capital gains rates and if he ever sells the inflated principle, the gains will be similarly taxed . Any gains in the tIRA will...
by celia
Thu Aug 16, 2018 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Seattle- mandatory affordable housing units affect single family home values?
Replies: 45
Views: 2717

Re: Seattle- mandatory affordable housing units affect single family home values?

Besides shade, she will likely be facing parking issues in the area (especially if her garage is on the alley), noise (late night parties, crying children), people looking down over you while you (and your kids) are in your yard, graffiti, increased crime (drugs?, homeless sleeping in the alley or ...
by celia
Thu Aug 16, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

Everyone seems to be approaching this as though the OP's parents will be gifting the money as soon as they update their wills. Not me. And you can't gift your IRA to anyone while you are living, not even your spouse. Is there any chance one (or both) of your parents will need to go in a nursing hom...
by celia
Thu Aug 16, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

Even if you are willing to be taxed all over again, you cannot put that $1M in CD's into an IRA account. But WHY would you even want to put the CD money in an IRA, even if you could? You would be paying higher taxes on the growth as it is withdrawn. And after age 70.5, your taxes could even be high...
by celia
Thu Aug 16, 2018 1:14 am
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

The inherited IRA will grow tax deferred for the next 40+ years. You'll only have to take out small distributions each year. In the long run the bank CD will NOT be worth more. You're getting some terrible advice on this forum. The beneficiary is free to change the asset of either one into somethin...
by celia
Thu Aug 16, 2018 12:27 am
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3151

Re: Help with inheritance choice

C'mon people. It is irrelevant what anything is invested in at the time of death. Once it is yours, you can invest it however you want (or not). If you took the CD, you could put it in a taxable account using the same investments that are in the IRA. If you took the tIRA, you could exchange the asse...
by celia
Wed Aug 15, 2018 6:16 pm
Forum: Investing - Help with Personal Investments
Topic: Octogenarian father in law's idea of balance: AAPL + CASH
Replies: 35
Views: 3267

Re: Octogenarian father in law's idea of balance: AAPL + CASH

At a minimum, I would stop re-investing AAPL dividends, if they currently have that set up and are agreeable. Use it instead to buy shares in a stock mutual fund and let him watch it grow so he can see that things other that AAPL can grow. Maybe first open the stock fund with $25K or so. What is he ...
by celia
Wed Aug 15, 2018 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Seattle- mandatory affordable housing units affect single family home values?
Replies: 45
Views: 2717

Re: Seattle- mandatory affordable housing units affect single family home values?

Yes, I would think she is facing an upcoming loss. Think of it this way. If there was another house exactly like hers and priced the same as hers, would a buyer want to buy the one in the shadow of a high-rise or the one that isn't? Apparently she has not been active in the local zoning and property...
by celia
Wed Aug 15, 2018 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Are inherited MF shares considered covered or non-covered?
Replies: 5
Views: 338

Re: Are inherited MF shares considered covered or non-covered?

Your inherited share cost basis was supposed to be adjusted automatically by Vanguard. There is no such a thing as covered vs. noncovered as far as inherited shares are concerned. Vanguard even has a form (https://personal.vanguard.com/pdf/v115.pdf ) to let you request for cost basis adjustment. Th...
by celia
Wed Aug 15, 2018 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Are inherited MF shares considered covered or non-covered?
Replies: 5
Views: 338

Re: Are inherited MF shares considered covered or non-covered?

I inherited some Vanguard mutual fund shares from my dad a couple of years ago . I watched closely as Vanguard moved them from his account to mine (I did get the correct number of shares), but I failed to verify that the Cost Basis was entered into my Cost Basis Summary correctly – which should hav...
by celia
Tue Aug 14, 2018 11:45 pm
Forum: Investing - Help with Personal Investments
Topic: Roth and Social Security
Replies: 8
Views: 1285

Re: Roth and Social Security

The most that SS can be taxed is 85% of it being taxed. At least 15% of SS will be tax-free. For people who already have 85% of their SS taxed, withdrawals from tIRA will also be taxed, but that won't change how much of their SS is taxed (since they are already at the maximum).
by celia
Tue Aug 14, 2018 11:30 pm
Forum: Personal Consumer Issues
Topic: As an American, where are some great places in the world to retire?
Replies: 93
Views: 8164

Re: As an American, where are some great places in the world to retire?

Instead of starting with a potential location, why not follow some process that ends with a location? What I would do is list the criteria you MUST have. Then list the criteria that you WANT it to have. And list what it MUST NOT have and what you DON'T WANT it to have. You can even weight the posit...
by celia
Tue Aug 14, 2018 2:53 am
Forum: Investing - Help with Personal Investments
Topic: Newly retired - need to make a big change
Replies: 34
Views: 5308

Re: Newly retired - need to make a big change

I also called Allianz and learned my annuity can be cashed in for full price for a $40 fee - I'll wait on that til it's tax-efficient. There may be a time limit for being able to un-do the purchase. They obviously won't let you wait a year to un-do your annuity since they will then expect their com...
by celia
Tue Aug 14, 2018 12:22 am
Forum: Investing - Theory, News & General
Topic: Vanguard Account Unavailable - Anyone Else?
Replies: 4
Views: 742

Re: Vanguard Account Unavailable - Anyone Else?

OP, try again. At night, they update accounts and do maintenance on the computer systems. Some accounts may be locked for a short while for various kinds of processing.

If you still can't on, check again in the morning, then call them, if need be.
by celia
Mon Aug 13, 2018 11:26 pm
Forum: Personal Consumer Issues
Topic: What is the best way to determine if one should buy something or save their money?
Replies: 29
Views: 1766

Re: What is the best way to determine if one should buy something or save their money?

I often decide to wait a few months to see if I still want it. Usually I forget about the item in 2 or 3 days, so end up not buying it. If I'm still thinking about it 3 months later, I'll get it. But recently, I just bought a couple of things I regretted almost as soon as I got home. For example, I...
by celia
Mon Aug 13, 2018 11:18 pm
Forum: Investing - Help with Personal Investments
Topic: Asked my advisor about fees and here's their reply
Replies: 40
Views: 5189

Re: Asked my advisor about fees and here's their reply

...Also, trade fees [$20] are only relevant if we are changing your allocation or you are making a deposit or withdrawal.... Please tell me you didn't sign up for automatic payroll deposit of $500 or more and it was split up into all your 20 or so funds. If that was happening each month, let's say,...
by celia
Mon Aug 13, 2018 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: wich bond fund for roth and taxable if no ira's
Replies: 6
Views: 559

Re: wich bond fund for roth and taxable if no ira's

If you use a Target fund or LifeStrategy, you probably know they are funds that contain other funds. Look up the description of the fund you would buy to see what they hold and use the %stocks, %bonds, and %international to mentally divide up the money in the Target/LifeStrategy in the same percenta...
by celia
Mon Aug 13, 2018 8:29 pm
Forum: Personal Consumer Issues
Topic: What is the best way to determine if one should buy something or save their money?
Replies: 29
Views: 1766

Re: What is the best way to determine if one should buy something or save their money?

I often decide to wait a few months to see if I still want it. Usually I forget about the item in 2 or 3 days, so end up not buying it. If I'm still thinking about it 3 months later, I'll get it. But recently, I just bought a couple of things I regretted almost as soon as I got home. For example, I...
by celia
Mon Aug 13, 2018 8:17 pm
Forum: Personal Consumer Issues
Topic: Should I Do This? [borrow from relative to pay off loan]
Replies: 55
Views: 2816

Re: Should I Do This? [borrow from relative to pay off loan]

It doesn't make sense to me that you would take out a new loan to pay off an existing one. Will the interest rate be the same? Will your relative be able to report your payments to the credit reporting companies so your credit score can go up? What will the penalty be (besides bad feelings) if you s...
by celia
Mon Aug 13, 2018 12:38 am
Forum: Investing - Help with Personal Investments
Topic: RMD's: take distributions vs selling
Replies: 35
Views: 2420

Re: RMD's: take distributions vs selling

Who says you have to sell? Transfer in kind Or if you can't do that, then sell in IRA, no tax cost , take distribution and repurchase in taxable. Haven't sold low at all. I don't understand. Unless you have $$$ already in taxable to cover taxes due, you have to pay FIT (and possibly state/local inc...