Search found 8286 matches

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: 2
Views: 392

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: 2
Views: 327

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: 1099

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: 1232

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: 27
Views: 2242

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: 27
Views: 2242

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: 84
Views: 3527

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: 27
Views: 2242

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: 1232

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: 1232

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: 29
Views: 1925

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: 29
Views: 1925

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: 1704

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: 928

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: 76
Views: 3663

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: 4841

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: 3023

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: 4841

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: 2173

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: 4841

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: 2722

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: 1165

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: 3729

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: 1868

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: 2496

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: 5342

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...
by celia
Sat Oct 13, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

For simplicity, do you think I could just put $5500 as the value at 12/31/2017 for my 2017 non-deductible IRA contribution so pretending no growth? I think $5500 will be a red flag as that is unlikely to be the correct number (to anyone else looking at your Form 8606). The primary way it WOULD be $...
by celia
Sat Oct 13, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

Thank you so much for the reply. However, I am confused bout line 6. 1) On my tax year 2017 return, at the end of 12/31/2017, I did not have any money in a non-deductible IRA account. I recharacterized my 2017 Roth IRA contribution only in 2018. So should line 6 be $0, not $6888? I don't know the r...
by celia
Sat Oct 13, 2018 4:09 am
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

In case someone thinks the calculation of the remaining basis is wrong, the reason Amy can use more basis for 2017 than $5,500 is that the 2016 contribution has been invested longer than the 2017 contribution and thus has more growth. Amy could have converted a value different than $6930, but just h...
by celia
Sat Oct 13, 2018 3:32 am
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

MIretired found this text in an IRS publication (I assume) that is worded better than what I was going to start with: Reporting recharacterizations. Treat any recharacterized IRA contribution... as though the amount of the contribution... was originally contributed to the second IRA , not the first ...
by celia
Sat Oct 13, 2018 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

(deleted an early draft I accidentally posted)
by celia
Sat Oct 13, 2018 1:03 am
Forum: Personal Finance (Not Investing)
Topic: Please help complete Form 8606 - Nondeductbile IRAs!!!
Replies: 22
Views: 1165

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

Don't worry, Amy. I can answer all your questions and help you use your software. But I will need about an hour to type up my explanation and what all your numbers should be on the 2017 Form 8606. Meanwhile, if you can tell me the value of the 2017 recharacterization amount and what its estimated va...
by celia
Fri Oct 12, 2018 6:10 pm
Forum: Personal Consumer Issues
Topic: Crawlspace flooding issues - builder liable?
Replies: 16
Views: 1039

Re: Crawlspace flooding issues - builder liable?

I wouldn't rule out gutters as a problem. If they became clogged in the last 2 years, they will get clogged again. Sounds like you need a leaf guard on top of them to keep the big things from landing in the gutters again. And who knows? Maybe they were clogged with construction material from when th...
by celia
Thu Oct 11, 2018 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Copy/paste from sister's Living Trust?
Replies: 18
Views: 1469

Re: Copy/paste from sister's Living Trust?

Question: should I just "recycle" her Living Trust and just change out the names and assets info? And then get it notarized? This will save me over $1000. That might be considered "stealing" someone else's work (similar to copyright infringement). Why don't you talk to the same lawyer, who would st...
by celia
Thu Oct 11, 2018 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Copy/paste from sister's Living Trust?
Replies: 18
Views: 1469

Re: Copy/paste from sister's Living Trust?

Well without getting too specific, most recently for me this has meant transferring title of vehicles and rental homes. These are typically not able to be held by the trust initially for various reasons in my case. There are also other forms of compensation that I have received over the years that ...
by celia
Thu Oct 11, 2018 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: When stocks and bonds drop at the same time, what do you do?
Replies: 40
Views: 4400

Re: When stocks and bonds drop at the same time, what do you do?

Let's switch it around:

When stocks and bonds RISE at the same time, what do you do?
by celia
Thu Oct 11, 2018 11:24 am
Forum: Personal Consumer Issues
Topic: My life saved by New subaru. Almost died.
Replies: 62
Views: 7105

Re: My life saved by New subaru. Almost died.

Did other cars collide? Or did everyone end up braking? If they were newer cars, they probably had automatic braking systems too (or slowed down a bit while climbing the hill).
by celia
Thu Oct 11, 2018 2:46 am
Forum: Personal Consumer Issues
Topic: Feeling Guilt among family/peers
Replies: 42
Views: 5149

Re: Feeling Guilt among family/peers

For example, recently proposed to my girlfriend and bought an engagement ring for $7834. I’m doing well financially and can afford it and wanted her to have something nice, but I’m hesitant in talking about it with those closest to me because they find the amount “ridiculous””way too much”, etc... ...
by celia
Thu Oct 11, 2018 1:50 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth mistake
Replies: 4
Views: 632

Re: Backdoor Roth mistake

Probably not the best idea to convert all of that. I would just pay the pro-rata taxes for this year. Then next year roll the remaining pretax into the new plan (8606 will tell you how much basis is left). +1 After rolling the pre-tax part to your new 401K, then convert the rest. That will get rid ...
by celia
Wed Oct 10, 2018 4:50 pm
Forum: Personal Consumer Issues
Topic: Medicare.gov Part D Drug Plan Accuracy?
Replies: 10
Views: 849

Too Many Variables!!! (Medicare Part D)

I don't know about this year but back in 2017 when I was doing my mothers, I found that by changing the pharmacy and looking at the details, I could get a better deal on one Tier III drug. The deal was better than any of the "Preferred Pharmacies" listed. After I signed her up, I had the doctor sen...
by celia
Wed Oct 10, 2018 4:40 pm
Forum: Personal Consumer Issues
Topic: Medicare.gov Part D Drug Plan Accuracy?
Replies: 10
Views: 849

Re: Medicare.gov Part D Drug Plan Accuracy?

I can pick different pharmacies from the Medicare.gov site and the prices change. Yes, the pharmacy you select will make the prices change. Costco and WalMart usually have the best price, I've been told, probably because they have lots of volume. But comparing several pharmacies near you is a good ...
by celia
Wed Oct 10, 2018 2:19 pm
Forum: Investing - Theory, News & General
Topic: How are stock dividends and bond coupons distributed in funds investment?
Replies: 6
Views: 448

Re: How are stock dividends and bond coupons distributed in funds investment?

Depending on the fund, you will receive dividends/interest/capital gains monthly, quarterly, or yearly. It is your choice to have the payments automatically re-invested in more shares or to put them in the settlement fund as cash. If you want to set your choice the same for all funds in an account, ...
by celia
Wed Oct 10, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 127
Views: 8552

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

OP, Why don't you try this out by gifting to your parent and have them pay the tuition for their grandchild who is not your child. That will not increase your taxes and it will help lower your capital gains. It also shows an independent decision by your parent.
by celia
Wed Oct 10, 2018 5:25 am
Forum: Personal Finance (Not Investing)
Topic: request help appealing IRMAA
Replies: 6
Views: 775

Re: request help appealing IRMAA

I don't know much about appealing IRMAA decisions, but found this page: https://secure.ssa.gov/apps10/poms.nsf/lnx/0601120005. I don't know if these apply to you but noted that it says: 2. Ordinarily, we do not make a determination retroactive to a prior premium year on a new initial determination, ...
by celia
Wed Oct 10, 2018 2:28 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Advice
Replies: 6
Views: 1522

Re: Retirement Advice

Wife and Self; over age of 70. Income: Military Retirement + Social Security [Just adequate to meet our expenses if we live moderately] There is no teacher's pension involved as I chose to go with OGB approved personal investment option. The good news here is that if your wife survives you, she wil...
by celia
Tue Oct 09, 2018 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: You're in the Top 1% if you have $2.5 million
Replies: 21
Views: 3397

Re: You're in the Top 1% if you have $2.5 million

Personal finance site MagnifyMoney used data from the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC) to break down the average and median balances by income. I have the feeling this study just looked at accounts in the banking system. I don't know how they could correlate income wit...
by celia
Tue Oct 09, 2018 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 184
Views: 34842

Re: GEICO auto rates vs. USAA: too good to be true?

There's a current thread about GEICO dropping liability (umbrella) insurance for someone who was in a car accident: https://www.bogleheads.org/forum/viewtopic.php?f=11&t=260011&newpost=4154951 The thread also gives some good thoughts about not going for the cheapest insurance. Just because somethin...
by celia
Tue Oct 09, 2018 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Form 8606 in Non-deductible IRA conversion to Roth IRA
Replies: 7
Views: 674

Re: Form 8606 in Non-deductible IRA conversion to Roth IRA

I checked my paper works and found out that the first non-deductible IRA I made was in 2010 with corrected form 8606 filed. The remaining non-deductible IRAs I made was in 2016 and 2017. I did not file form 8606 for 2016, and the base for 2017 in form 8606 I filed was not correct ( as it does not i...
by celia
Mon Oct 08, 2018 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: 5 months before LTCG for ex-employer stock
Replies: 1
Views: 216

Re: 5 months before LTCG for ex-employer stock

Your plan sounds reasonable. Or, depending on each year's marginal tax bracket, you might do some of the selling in a third or fourth year. This would give you some "working space" if you need to do Roth conversions during the same time period. Of course, we don't know enough about your overall tax ...
by celia
Mon Oct 08, 2018 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth --> Filling out FAFSA
Replies: 8
Views: 746

Re: Backdoor Roth --> Filling out FAFSA

The safest thing to do is to call the financial aid office of one of the colleges your son/daughter is applying to.

Please let us know what they say.