Search found 8310 matches

by celia
Sun Oct 21, 2018 4:06 am
Forum: Personal Finance (Not Investing)
Topic: Can you include this in a will?
Replies: 18
Views: 2597

Re: Can you include this in a will?

It may help to decrease the amount of money at stake by specifying beneficiaries on your financial accounts. For those accounts the will is ignored and the money will be transferred to beneficiaries as soon as someone shows up with a death certificate. ...not if the account is owned by a trust. Sin...
by celia
Sun Oct 21, 2018 2:00 am
Forum: Personal Consumer Issues
Topic: Pull kids from school for vacations?
Replies: 108
Views: 3949

Re: Pull kids from school for vacations?

I am pretty cynical and am pretty sure they don't care about truancy because of the kid's education so am pretty sure there are $$$ somehow involved. Of course, money is involved, but that's not the main reason students should be in school each day (or doing something educational). Since the standa...
by celia
Sun Oct 21, 2018 12:46 am
Forum: Investing - Help with Personal Investments
Topic: roth conversion and other income tax question
Replies: 6
Views: 575

Re: roth conversion and other income tax question

My question is, does the standard deduction first apply to Roth conversion income, non-qualified dividend income, and interest income before, qualified dividend income and long-term capital gains? Yes!...well, sort of... I would like to know the order of income that the standard deduction is applie...
by celia
Sat Oct 20, 2018 11:34 pm
Forum: Investing - Help with Personal Investments
Topic: Investing During Retirement
Replies: 18
Views: 2113

Re: Investing During Retirement

My preference would be to invest in no transaction fee funds (...or, is this an unreasonable expectation on my part?). When you buy a fund managed by the custodian, there rarely are any transaction fees. That is, you should buy Fidelity funds if the account is at Fidelity, Schwab funds if the accou...
by celia
Sat Oct 20, 2018 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me simplify my Portfolio
Replies: 16
Views: 1734

Re: Please help me simplify my Portfolio

Some employers only match the pre-tax, so you might be missing out on some employer money. (Near the end of the year, you can probably convert some pre-tax to Roth.) I'm wondering why you think this. It is a common misconception, but you are not prone to doing that. As far as I know, the employer h...
by celia
Sat Oct 20, 2018 4:12 pm
Forum: Personal Consumer Issues
Topic: Pull kids from school for vacations?
Replies: 108
Views: 3949

Re: Pull kids from school for vacations?

Kids are only in school for about 180 days a year, which is a little less than half of the days in the year. I'm sure you could schedule your vacation during the other 180+ days. The counterpoint is that kids go to school 180 days per year, which is almost half of all days in the year. Is it really...
by celia
Sat Oct 20, 2018 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me simplify my Portfolio
Replies: 16
Views: 1734

Re: Please help me simplify my Portfolio

The way it is placed on the paper is confusing, but I think the headings "last quarter", YTD, and "prior year" do not apply to the information listed under Roth 401k. I think you understood it perfectly since you were able to add the pre-tax and Roth contributions up for both this year (YTD=Year To...
by celia
Sat Oct 20, 2018 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me simplify my Portfolio
Replies: 16
Views: 1734

Re: Please help me simplify my Portfolio

To further complicate matters, there's an employee After-tax contribution which i have not contributed to this year but i appears i did contribute around $5100 last year. The provider calls it...Roth 401k. [statement] Does it make any sense? I believe i'm within income limits to contribute to a Rot...
by celia
Sat Oct 20, 2018 1:25 pm
Forum: Personal Consumer Issues
Topic: Pull kids from school for vacations?
Replies: 108
Views: 3949

Re: Pull kids from school for vacations?

Kids are only in school for about 180 days a year, which is a little less than half of the days in the year. I'm sure you could schedule your vacation during the other 180+ days. The only time I ever took our kids out of school were if THEY were sick or there was a family funeral. But since we were ...
by celia
Sat Oct 20, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Travelers Checks
Replies: 31
Views: 1526

Re: Travelers Checks

Many years ago, we were in a little town in Sicily, with known relatives living there. The B&B we were staying at told us on the last day they did not take credit cards. Cash only. So we went to the only tiny bank in town (about the size of a cigarette stand) sandwiched between two other businesses ...
by celia
Sat Oct 20, 2018 11:42 am
Forum: Investing - Theory, News & General
Topic: What happens if a government confiscates foreign-held stocks?
Replies: 39
Views: 2036

Re: What happens if a government confiscates foreign-held stocks?

If there were suddenly a war between the USA and China, wouldn't China confiscate all the stocks owned by their new enemy, and vice versa? I don't understand this. Do you mean stocks held by an enemy government or held by their citizens (living in China)? If you wanted to take all the government's ...
by celia
Fri Oct 19, 2018 11:51 pm
Forum: Investing - Help with Personal Investments
Topic: Met with an FA today.
Replies: 12
Views: 2425

Re: Met with an FA today.

So the DW has been listening to this person on the radio and had some questions about their methods. You didn't say who makes most of the financial decisions in your family, but I suggest you look for common ground with your wife, since it's likely one of you will outlive the other. If you are not ...
by celia
Fri Oct 19, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should we downgrade our house?
Replies: 42
Views: 3407

Re: Should we downgrade our house?

The number one factor for student outcome is parents education level, followed by family structure, followed by economics (income), and somewhere after that is the teachers/school you go to. Why do people prioritize the forth item on the list so much? Probably because it is the one thing they can c...
by celia
Fri Oct 19, 2018 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: What if your risk tolerance is lower than what's best for your portfolio?
Replies: 51
Views: 3602

Re: What if your risk tolerance is lower than what's best for your portfolio?

What many people do when they are starting retirement is set aside 3 to 5 years of living expenses in a CD or money market account and let the rest of the portfolio grow. Possibly they move those "safe" living expenses to a different custodian. They don't withdraw from them unless the markets are do...
by celia
Fri Oct 19, 2018 3:44 pm
Forum: Personal Consumer Issues
Topic: Guidelines About Deposits on a Contractor Job?
Replies: 12
Views: 782

Re: Guidelines About Deposits on a Contractor Job?

In California, the law says the deposit on a construction job can't be more than 10% of the job or $1,000, whichever is less. So you only have to pay $1,000 for a big job. It the total cost of the job is $1,000, you only have to pay $100. http://www.cslb.ca.gov/Media_Room/Press_Releases/2012/August_...
by celia
Fri Oct 19, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should we downgrade our house?
Replies: 42
Views: 3407

Re: Should we downgrade our house?

Currently we have a duplex in a very walkable neighborhood near a metro stop (in DC), and I want to just transplant our lifestyle. If you go from a duplex (assuming half is rented from you) to a single family home, I consider that an upgrade. In general, a neighborhood with mostly homeowners is bet...
by celia
Thu Oct 18, 2018 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 106
Views: 5314

Re: Depositing Cash if it was gifted?

Deposit the cash. If asked where you received the funds, be truthful - you inherited it. But the OP did not inherit it . His grandmother did. Now she wants to gift it to him. My grandfather recently passed away in July. He was 94 years old, a month from 95, and he left my grandmother almost $70,000...
by celia
Thu Oct 18, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 106
Views: 5314

Re: Depositing Cash if it was gifted?

But if someone is going to research the value of some of the bills, that will take time. We don't know if all the bills or only a few should be withheld until the research (sale?) is done.
by celia
Thu Oct 18, 2018 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 106
Views: 5314

Re: Depositing Cash if it was gifted?

Gill wrote:Celia, not good advice. You are advocating structuring which is a crime.
Gill
Suggesting she hold onto it for herself is good advice, if you don't know her financial affairs. Are you referring to her depositing her own money in stages???
by celia
Thu Oct 18, 2018 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 106
Views: 5314

Re: Depositing Cash if it was gifted?

I'll bet there's probably more cash in other places in the house. (My in-law put a deceased's persons stuff in the front yard for a yard sale, then started going through the pockets. After they found several hundred dollars, they pulled all the clothes inside for another time. The original family di...
by celia
Thu Oct 18, 2018 7:53 pm
Forum: Investing - Help with Personal Investments
Topic: Help with college age sons Roth IRA options...
Replies: 15
Views: 794

Re: Help with college age sons Roth IRA options...

Just to ask you about this. A family friend's son has asked me about helping him to open a Roth IRA to invest the income he made from summer job this year. Does opening a Roth IRA for a minor (he is 14) with Vanguard require the parent to be a custodian to the account? How does that process work? I...
by celia
Thu Oct 18, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Kids inherited $8,000 each - 529 or regular brokerage?
Replies: 34
Views: 2225

Re: Kids inherited $8,000 each - 529 or regular brokerage?

A custodian 529 account is a 529 that is owned by a minor, funded with money that is owned by the minor, and managed by the custodian until the minor reaches the age of majority. Sometimes referred to as a UTMA/UGMA 529. Custodian 529 accounts are treated by FAFSA as a parent asset and as such they...
by celia
Thu Oct 18, 2018 6:48 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 53
Views: 4789

Re: Best way to complain about Hertz bait-and-switch?

In this case, I don't think a complaint will do any good. You got where you wanted to go and back without any problems, right? Let me add that I had two trips back east this summer and rented from Budget and Hertz. After a 5-hour+ flight and a 3-hr time zone change, there aren't many cars left in th...
by celia
Thu Oct 18, 2018 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Help with college age sons Roth IRA options...
Replies: 15
Views: 794

Re: Help with college age sons Roth IRA options...

ndnboy wrote:
Thu Oct 18, 2018 10:36 am
We anticipate he would be depositing at most approximately $500 annually from his part time job ($5-6K yr).
Why don't you "match" his contribution for a few years, as long as he makes more than the total contribution? Then he will reach the minimum to get into a fund much faster.
by celia
Thu Oct 18, 2018 1:39 am
Forum: Personal Finance (Not Investing)
Topic: Kids inherited $8,000 each - 529 or regular brokerage?
Replies: 34
Views: 2225

Re: Kids inherited $8,000 each - 529 or regular brokerage?

My thinking is that I could always put it into a 529 for them at a later date if the situation changes, or it is more advantageous for FAFSA purposes . It seems like a more flexible approach. Am I missing anything? Remember that if the kids inherited some money, it is THEIR money, not yours. "They"...
by celia
Wed Oct 17, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes on parents’ house transferred to children
Replies: 4
Views: 854

Re: Taxes on parents’ house transferred to children

I'm not sure if you're looking for information pertaining to taxes on the house in the last 10 or 20 years or if you are asking about reporting a sale of the house now. You can find out who legally owns it by calling the county recorder who records the deeds. You can find out if there are outstandin...
by celia
Wed Oct 17, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance for cancer survivor? OR, can I even get insured?
Replies: 16
Views: 1252

Re: How much life insurance for cancer survivor? OR, can I even get insured?

I have got a few quotes (no medical exam) for $1mil @ 1000/yr on 20yr term....seems high...but do I really need 1mil ? Maybe something around 750k? If I am reading this correctly, you would pay $1,000/yr for 20 years (ie, the premium is fixed for all those years). Although I no longer need or carry...
by celia
Wed Oct 17, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: What would you do with unexpected tax refund?
Replies: 25
Views: 1271

Re: What would you do with unexpected tax refund?

I would at least pay the bill for the hospital stay. Doctors/hospitals aren’t in the lending business. Your child received important services, and the health care providers should be paid for that. I actually called and asked about paying it off in full if they'd give me a 10% discount, their respo...
by celia
Wed Oct 17, 2018 4:43 pm
Forum: Investing - Theory, News & General
Topic: Vanguard screws up rollover from TSP
Replies: 28
Views: 2488

Re: Vanguard screws up rollover from TSP

I probably won't end up bothering with Roth conversions myself, since a reasonable TSP annual withdrawal + SS + Federal pension would already easily have me in the 24% federal bracket, and that's not even counting whether or not my wife keeps working, meaning I see almost no chance I'd ever have to...
by celia
Wed Oct 17, 2018 4:35 pm
Forum: Investing - Theory, News & General
Topic: Vanguard screws up rollover from TSP
Replies: 28
Views: 2488

Re: Vanguard screws up rollover from TSP

Update - Vanguard's resolution team says this will take 3-5 business days to fix. The money is still in the wrong account. Since I intended (and still intend) to immediately invest the entire amount in VFIAX, I plan to write a letter and seek either adjustment of price back to the date that the mon...
by celia
Wed Oct 17, 2018 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 102
Views: 4476

Re: Long-term Care Insurance

What do you think? What's the best place to go to buy a policy? Roughly how much should it cost assuming a 56 year old male and 53 year old female? Would you buy an asset-based policy (life insurance or annuity with rider) or just a regular LTC policy? My last employer paid for LTC insurance for co...
by celia
Wed Oct 17, 2018 12:56 am
Forum: Investing - Theory, News & General
Topic: Vanguard screws up rollover from TSP
Replies: 28
Views: 2488

Re: Vanguard screws up rollover from TSP

Why is it that posts like this about Vanguard are so common, yet I've yet to see one about iShares, Schwab, or Fidelity? Vanguard is the largest investment custodian, so of course, they will probably make some mistakes and have clients complain about the errors. But they also have clients who give ...
by celia
Wed Oct 17, 2018 12:28 am
Forum: Personal Finance (Not Investing)
Topic: What would you do with unexpected tax refund?
Replies: 25
Views: 1271

Re: What would you do with unexpected tax return?

Why is your tax return unexpected? Don't you usually have to file? For 2018, if your income is the same and you don't have to file, it's because the tax laws were changed last year and took effect this year. Celia - it was unexpected because we dont typically get a big return, maybe just a little m...
by celia
Tue Oct 16, 2018 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: What would you do with unexpected tax refund?
Replies: 25
Views: 1271

Re: What would you do with unexpected tax return?

Why is your tax return unexpected? Don't you usually have to file? For 2018, if your income is the same and you don't have to file, it's because the tax laws were changed last year and took effect this year.
by celia
Tue Oct 16, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Inflating AGI to avoid paying back ACA Premium Tax Credit
Replies: 41
Views: 3253

Re: Inflating AGI to avoid paying back ACA subsidies

I did make an IRA contribution which I intend to reclassify as a Roth IRA contribution. I also intend to cash out our brokerage account to add taxable interest. By "reclassify", I assume you mean "recharacterize". If you do that, it will be considered the same as if the contribution had originally ...
by celia
Tue Oct 16, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Inflating AGI to avoid paying back ACA Premium Tax Credit
Replies: 41
Views: 3253

Re: Inflating AGI to avoid paying back ACA subsidies

I did make an IRA contribution which I intend to reclassify as a Roth IRA contribution. I also intend to cash out our brokerage account to add taxable interest. By "reclassify", I assume you mean "recharacterize". If you do that, it will be considered the same as if the contribution had originally ...
by celia
Tue Oct 16, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Elder care tax question(s)
Replies: 27
Views: 1735

Re: Elder care tax question(s)

If you were to gift her the rental and you die before her, what kind of mess will you be leaving behind? Is your estate plan up to date?
by celia
Tue Oct 16, 2018 4:19 am
Forum: Personal Finance (Not Investing)
Topic: Online statements/ mail Vs paper
Replies: 6
Views: 942

Re: Online statements/ mail Vs paper

A major drawback to downloading statements online and saving them digitally, is when you die, how will your executor or trustee find everything you own? How will they find your will or trust? How will they know if you owe any bills or Treasury Direct bonds or where your deeds or car title is? What i...
by celia
Tue Oct 16, 2018 12:20 am
Forum: Personal Consumer Issues
Topic: How Much Is Your Sewer Bill?
Replies: 78
Views: 3915

Re: How Much Is Your Sewer Bill?

Here in drought-land, our water is about $32 a month and sewer is $10. We conserve as much as we can (unlike some "water-wasters" above). :D The city also doesn't like to see water in the street gutters because we are encouraged to keep the land water-permeable, because they reclaim the water using ...
by celia
Mon Oct 15, 2018 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 4875

Re: Is it worth filing FAFSA even if you know you'll get nothing?

The only drawback I saw was that one college he applied to but didn't attend had their database hacked. Son and parents were sent a letter and free credit reporting. I don't see why colleges need access to the raw data. It wouldn't be so bad if the Education Department held the raw data and just se...
by celia
Mon Oct 15, 2018 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend lost job, getting a lump sum severance... What should we do next
Replies: 36
Views: 3046

Re: Girlfriend lost job, getting a lump sum severance... What should we do next

1. She may be eligible for unemployment insurance but can't file until the date she is laid off. If she changed states to take the temporary job, she will have to figure out what to do to get the most in benefits. If she moved to MA last May, she probably is not yet eligible for their unemployment, ...
by celia
Mon Oct 15, 2018 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 4875

Re: Is it worth filing FAFSA even if you know you'll get nothing?

The only drawback I saw was that one college he applied to but didn't attend had their database hacked. Son and parents were sent a letter and free credit reporting. I don't see why colleges need access to the raw data. It wouldn't be so bad if the Education Department held the raw data and just se...
by celia
Mon Oct 15, 2018 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Gift for two of four grandchildren
Replies: 18
Views: 2203

Re: Gift for two of four grandchildren

If the money is to be given ONLY if the grandchildren go to college, then that is what needs to be implemented. An amendment to her will/trust could do it, but the executor/trustee would have to wait until they are 30 or so to see if college happens. Or if the money is put in a 529, it can be withdr...
by celia
Mon Oct 15, 2018 3:36 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 4875

Re: Is it worth filing FAFSA even if you know you'll get nothing?

Our two children both graduated from universities. From calculators, I knew they/we would not qualify for any free money. A friend of mine said "You might be surprised." So I did submit the FASFA one time for first child's freshman year. I was not surprised. Wished I had never given up our informat...
by celia
Mon Oct 15, 2018 3:09 am
Forum: Personal Finance (Not Investing)
Topic: Switching from ACA to Medicare
Replies: 27
Views: 2754

Re: Switching from ACA to Medicare

Interesting thread. What happens when there is a 2-3 year age gap between spouses? When the older spouse hits 65 and goes on Medicare after both being on ACA, the MAGI to hit the cliff becomes lower (for single person) so is it likely that one person pays much higher premiums for a few years? Any g...
by celia
Sun Oct 14, 2018 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1172

Re: Please help complete Form 8606 - Nondeductbile IRAs!!!

Also, I think IRS really does not know when I made tax year 2017 Roth contribution. On the original 2017 Form 5498 IRA Contribution information, it did not show when I made the initial Roth IRA contribution. On the second 2017 Form 5498, it did not show when I did the recharacterization. Only a sta...
by celia
Sun Oct 14, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Placing mother in nursing home - advice
Replies: 37
Views: 3767

Re: Placing mother in nursing home - advice

Finding a local Assisted Living facility near you appears to be the way to go until she needs nursing care. Can the catheter be removed and use Adult diapers instead? The best Assisted Livings, in my opinion, are the ones in a house in a neighborhood where they accept 6-8 patients and have 24 hour s...
by celia
Sun Oct 14, 2018 5:10 am
Forum: Investing - Help with Personal Investments
Topic: Get rid of my Roth IRA?
Replies: 30
Views: 1883

Re: Get rid of my Roth IRA?

..... How good or bad of an idea might it be to simplify my portfolio more by liquidating my Roth IRA and put the funds into my taxable account? .... Bad, bad, bad, bad, bad for reasons already given. Simplify your portfolio by leaving it in TSM and ignoring it for 40 years. Then come back and look...
by celia
Sun Oct 14, 2018 4:30 am
Forum: Personal Finance (Not Investing)
Topic: Bank lost beneficiary paperwork, says must go through probate
Replies: 18
Views: 2510

Re: Bank lost beneficiary paperwork, says must go through probate

The bank was bought out by a larger brokerage in 2012. The new brokerage says they have no record of beneficiaries. I would assume the new brokerage assigned new account numbers to all the accounts they took over in 2012. Are they saying the "old" account did not have any listed beneficiaries or th...
by celia
Sun Oct 14, 2018 3:22 am
Forum: Personal Finance (Not Investing)
Topic: Weigh in on our Marital Argument =)-- HCOL edition
Replies: 70
Views: 5369

Re: Weigh in on our Marital Argument =)-- HCOL edition

I would stay put but look at your condo with a different perspective. I assume you value education as your parents did for you. So you likely want your daughters to do the best they can in school, too. To do that, especially as they reach high school age, they need to have a consistent place to slee...