Search found 7558 matches

by celia
Thu Apr 19, 2018 3:38 am
Forum: Personal Finance (Not Investing)
Topic: Account for Adult Children Allowing Parent Some Control
Replies: 28
Views: 2510

Re: Account for Adult Children Allowing Parent Some Control

Tell your adult children that you are going to set up an account in their name and you will fund it.....but that it is for long-term purposes (as you determine) and they are not to worry about it. Open an account in their name at your brokerage company - the one you use for your other brokerage bus...
by celia
Thu Apr 19, 2018 2:49 am
Forum: Personal Finance (Not Investing)
Topic: Will question
Replies: 9
Views: 652

Re: Will question

You need an estate planning attorney , not a tax attorney or general practitioner. And estate planning is not just creating a will and/or trust. There are financial powers of attorney and health care powers of attorney to also be generated. You should look for a "package price" instead of paying by ...
by celia
Tue Apr 17, 2018 8:06 pm
Forum: Personal Consumer Issues
Topic: Is Los Angeles a good place long term to live financially?
Replies: 102
Views: 5290

Re: Is Los Angeles a good place long term to live financially?

There must be a Boglehead somewhere who fits Gray's criteria. Whether she is at all interested in him is another thing. :!:
I'm not sure he is even a Boglehead or just decided to post here.
by celia
Tue Apr 17, 2018 7:56 pm
Forum: Personal Consumer Issues
Topic: Is Los Angeles a good place long term to live financially?
Replies: 102
Views: 5290

Re: Is Los Angeles a good place long term to live financially?

Some of my goals are: 1. Get an MBA at a good business school in the area 2. Find a good paying job in LA after graduating 3. Find a beautiful woman to marry who has a high net worth, and hopefully being in a big city like LA I’d find someone 4. Buy a very big house With these goals, there are many...
by celia
Sun Apr 15, 2018 10:16 pm
Forum: Personal Consumer Issues
Topic: Where to put TV in living room?
Replies: 12
Views: 922

Re: Where to put TV in living room?

One problem you have is where will the viewers sit? It probably doesn't make sense to sit in front of the fireplace or the windows on the left wall. But I see a possibility if you can put it on some short shelving unit diagonally in the bottom left corner to hold the TV. Then you could use an L-shap...
by celia
Sun Apr 15, 2018 9:59 pm
Forum: Investing - Help with Personal Investments
Topic: Need some IRA advice please
Replies: 8
Views: 594

Re: Need some IRA advice please

I currently have about 150K in a traditional IRA (currently in a variable annuity with Prudential that I am liquidating and transferring to Fidelity as we speak). I just want to clarify this. I hope you are transferring it to another traditional IRA at Fidelity. Whatever comes out of the tax-deferr...
by celia
Sun Apr 15, 2018 3:01 pm
Forum: Investing - Theory, News & General
Topic: Is it time to dump high yield savings for prime money market?
Replies: 103
Views: 14387

Re: Is it time to dump high yield savings for prime money market?

I anticipate making changes like this. I am the sort that will accept an extra $20 a month, if I can do it with some mouse clicks while drinking coffee on a rainy morning. For me, not there yet - it could well happen this year. The hassle for me is: - Getting my spouse to know and to remember where...
by celia
Sun Apr 15, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Help for small estate w/ debts: Gifting next of kin
Replies: 9
Views: 470

Re: Help for small estate w/ debts: Gifting next of kin

His estate assets are worth less than $75K. What do you mean by his "estate assets"? All his assets will have to be accounted for when he dies. Is he married? Usually the remaining assets go to one's spouse. If he gifts some money to others, how will he pay his bills? It seems he will just get deep...
by celia
Sun Apr 15, 2018 10:25 am
Forum: Personal Consumer Issues
Topic: PayPal fund request from unknown person?
Replies: 19
Views: 1452

Re: PayPal fund request from unknown person?

I believe in doing to others what you would want them to do to you. Paypal once notified me to pay me for an eBay purchase that I had not made. (I use eBay a lot.) I went to eBay and saw what the requester was selling. They sold something to an eBay user who had a user name one letter different than...
by celia
Fri Apr 13, 2018 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: HELP - IRS says I owe close to $12,000 for 2016 taxes
Replies: 26
Views: 4280

Re: HELP - IRS says I owe close to $12,000 for 2016 taxes

Would hiring an accountant at this point help at all? What would you want the accountant to do? She will likely say that you need to find the basis. If the shares were inherited, it is easy, since the shares get a stepped up value (basis) on date of death. If the shares were an RMD from a retiremen...
by celia
Fri Apr 13, 2018 12:31 pm
Forum: Personal Consumer Issues
Topic: Is a reduction of my home's assessed value a bad thing?
Replies: 21
Views: 1165

Re: Is a reduction of my home's assessed value a bad thing?

The assessed value is not the same as the market value. They often are not correlated at all. In California, before Prop 13, it used to be about 1/4 of the market value. Property taxes were based on the assessed value, but as the state wanted more money, they kept increasing the assessed value faste...
by celia
Fri Apr 13, 2018 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Do you need a Notary for a Safe Harbor IRA roll over to Roth?
Replies: 8
Views: 439

Re: Do you need a Notary for a Safe Harbor IRA roll over to Roth?

The notary requirement is common. Go to your bank and get it done free. It's not a big deal. Not like your going to the dentist or anything, so stay calm. It depends on where you live and your relationship with your bank (age of your accounts and their balance). In California, there is a mandatory ...
by celia
Fri Apr 13, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Why traditional IRA better than Roth IRA
Replies: 87
Views: 6627

Re: Why traditional IRA better than Roth IRA

Traditional IRA is way better than Roth IRA because you do not pay tax in the beginning. Then when you reach 59 1/2 years old you make sure your withdrawals are at or less than $72K/year OP, Where does your family member get the number $72K from as some kind of threshold? Is the taxpayer assumed to...
by celia
Thu Apr 12, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Owners Title Insurance - Super Heavy Handed Pitch
Replies: 103
Views: 5632

Re: Owners Title Insurance - Super Heavy Handed Pitch

Hi everyone! Still listening, as is my wife. . . . My wife had a useful interpretation of this thread: "I've never seen BH be so unanimous on anything. This makes me want to buy it." So I now have your strong recommendations plus my wife's desire, and the true tail risk of not just losing $400K+ bu...
by celia
Thu Apr 12, 2018 1:22 pm
Forum: Personal Consumer Issues
Topic: Mid-40s in tech - how to pass off as acceptably young
Replies: 111
Views: 9633

Re: Mid-40s in tech - how to pass off as acceptably young

rebellovw wrote:
Thu Apr 12, 2018 1:04 pm
Coloring your hair? :oops:

Not the answer. I've worked with gods that have completely shaved heads - or crazy hair.
Half and half on the same head? :oops:
by celia
Thu Apr 12, 2018 12:39 pm
Forum: Investing - Help with Personal Investments
Topic: Do you need a Notary for a Safe Harbor IRA roll over to Roth?
Replies: 8
Views: 439

Re: Do you need a Notary for a Safe Harbor IRA roll over to Roth?

What are you calling a Safe Harbor IRA? There is no such account type like that. Is it an employer-funded SIMPLE IRA account? The necessity of the notary signature might depend on the value of the account. Why don't you ask the custodian of the account, instead of us? I suspect that the notary requi...
by celia
Thu Apr 12, 2018 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 5536

Re: Could you support family on 1 income?

When we married and thought we might have kids, we decided to live on one income and save the other. That worked well for us as I took a long leave when each kid was born, when DH went back to school full time, and when we were both laid off in the same month and were unemployed for a year. Of cours...
by celia
Thu Apr 12, 2018 12:14 pm
Forum: Personal Consumer Issues
Topic: Mid-40s in tech - how to pass off as acceptably young
Replies: 111
Views: 9633

Re: Mid-40s in tech - how to pass off as acceptably young

I interviewed with one mega-corp over the phone and got rejected. I thought that I had done quite well in the phone screen and was looking forward to going onsite. The younger sounding interviewer on the other end obviously thought otherwise. Unless you had a skype interview, how would the intervie...
by celia
Wed Apr 11, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Child in college w/$500 income on W-2 - File taxes?
Replies: 27
Views: 2197

Re: Child in college w/$500 income on W-2 - File taxes?

If she will be applying for financial aid in 2 years (2019-2020 school year), she will need a 2017 tax return to submit. Even if she doesn't need any grants or loans, campus jobs often require a previous tax return be filed with the college. Can you explain this further? This has not been my experi...
by celia
Wed Apr 11, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: California Condo Earthquake coverage - HO5 policy exception
Replies: 10
Views: 945

Re: California Condo Earthquake coverage - HO5 policy exception

I, too, don't understand what liability insurance has to do with an earthquake (even after reading the above). I understand that paragraph not to mean that the umbrella protects the condo owner against property damage. It protects the owner against assessments or claims made by the condominium asso...
by celia
Wed Apr 11, 2018 6:50 am
Forum: Personal Finance (Not Investing)
Topic: California Condo Earthquake coverage - HO5 policy exception
Replies: 10
Views: 945

Re: California Condo Earthquake coverage - HO5 policy exception

I, too, don't understand what liability insurance has to do with an earthquake (even after reading the above). First, does your liability insurance still cover the usual things that liability covers, like a visitor tripping and getting hurt on your property? This is added to the umbrella when the un...
by celia
Wed Apr 11, 2018 4:31 am
Forum: Investing - Theory, News & General
Topic: 529 plan use in 2018 - Homeschooling
Replies: 20
Views: 1949

Re: 529 plan use in 2018 - Homeschooling

When you file your taxes showing what you did with the 529 distribution, do you need to enter some kind of school code/number? For example, many/most states assign numbers to each school in the K-12 range and to private and online schools as well. For example, here is the directory for California sc...
by celia
Wed Apr 11, 2018 3:55 am
Forum: Personal Finance (Not Investing)
Topic: Owners Title Insurance - Super Heavy Handed Pitch
Replies: 103
Views: 5632

Re: Owners Title Insurance - Super Heavy Handed Pitch

OP, It looks like you live in Boston, one of the oldest cities in the country, founded in 1630 (per wikipedia). That's an awful long time compared to California. How many past "owners" do you think once owned the land? How many heirs do they have living at this time (or in the future)? It sounds lik...
by celia
Wed Apr 11, 2018 2:07 am
Forum: Investing - Help with Personal Investments
Topic: Early dispensation to heirs
Replies: 3
Views: 617

Re: Early dispensation to heirs

OP, If your goal is for your heirs to learn about investing using real money and they don't have much invested yet, why not just give them $15,000 a year and see what they do with it. Maybe it will be used to pay down debts or go on a vacation. But you will learn about their habits while they (hopef...
by celia
Wed Apr 11, 2018 1:20 am
Forum: Investing - Help with Personal Investments
Topic: Early dispensation to heirs
Replies: 3
Views: 617

Re: Early dispensation to heirs

Part of the problem with following curmedgeon's second paragraph, is that your heirs can't spend any of the money on things they want/need. What if they want to use the money for a house remodel or downpayment, for example. ... how can I, if possible,transfer them to my employed heirs while not incr...
by celia
Wed Apr 11, 2018 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Child in college w/$500 income on W-2 - File taxes?
Replies: 27
Views: 2197

Re: Child in college w/$500 income on W-2 - File taxes?

If she will be applying for financial aid in 2 years (2019-2020 school year), she will need a 2017 tax return to submit. Even if she doesn't need any grants or loans, campus jobs often require a previous tax return be filed with the college.
by celia
Wed Apr 11, 2018 12:11 am
Forum: Personal Finance (Not Investing)
Topic: tIRA as a kid now rolling over to Roth
Replies: 4
Views: 429

Re: tIRA as a kid now rolling over to Roth

...now I'm filing my own tax return. This year, I converted the entire traditional IRA to a Roth IRA with Vanguard. Do I pay taxes now on the entire amount that I've rolled over? How should I report this on form 8606? If you converted this in 2018, you will get a 1099-R early next year showing the ...
by celia
Tue Apr 10, 2018 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Paystubs still show single, even though we're married?
Replies: 58
Views: 1976

Re: Paystubs still show single, even though we're married?

Simple. Your employer probably has several departments. One handles employee benefits like medical insurance and life insurance. One handles retirement plans and beneficiaries. One handles payroll and paycheck withholding. At a smallish company some/all of this may be combined into one department or...
by celia
Tue Apr 10, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay taxes on unrealized dividends?
Replies: 19
Views: 1839

Re: Do I have to pay taxes on unrealized dividends?

There is no such thing as "unrealized dividends". Reinvested dividends simply mean that you cashed the dividend payout and immediately decided to buy more stocks. As such, all dividends reported on your 1099-DIV are fully taxable. There is no such thing as "unrealized dividends". If they show up on...
by celia
Tue Apr 10, 2018 2:49 pm
Forum: Personal Consumer Issues
Topic: Driver's permit before 18 - Any financial incentive
Replies: 52
Views: 1634

Re: Driver's permit before 18 - Any financial incentive

It appears our district does not offer school busses for high school, though they do for middle school. The schools are next door to each other, so I don't understand the logic in this. Not looking forward to this decision when my kids reach driving age. This may be a good time to get involved and ...
by celia
Tue Apr 10, 2018 2:11 pm
Forum: Personal Consumer Issues
Topic: Driver's permit before 18 - Any financial incentive
Replies: 52
Views: 1634

Re: Driver's permit before 18 - Any financial incentive

Did your kids get their licenses? What ages? Did they pop out of college with virtually no driving experience? Or did they just use the family car? One didn't want/get his license until after college, then continued to grad school (did college-sponsored programs in other countries during the summer...
by celia
Tue Apr 10, 2018 12:56 pm
Forum: Personal Consumer Issues
Topic: Driver's permit before 18 - Any financial incentive
Replies: 52
Views: 1634

Re: Driver's permit before 18 - Any financial incentive

I acknowledge I'm in the minority here, but FINANCIALLY we couldn't afford to add any cars or insurance for teenagers while they attended church-sponsored high schools (paying tuition). These schools are not within walking distance here, but they were on the path that DH and I used to drive to work ...
by celia
Tue Apr 10, 2018 1:58 am
Forum: Investing - Help with Personal Investments
Topic: What should I sell?
Replies: 19
Views: 2162

Re: What should I sell?

My 401k, which I won't begin tapping for another 8 or 10 years from now, . . . Ummm, I think there may be a bigger issue here that you may not be aware of. That is the matter of RMDs when you turn 70.5 and take them at the same time as SS. Have you estimated your age 70.5 tax bracket yet, after tha...
by celia
Mon Apr 09, 2018 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Higher total income in retirement than during working?
Replies: 51
Views: 4437

Re: Higher total income in retirement than during working?

I was just trying to clarify that your expenses probably won't be the same as when working. (I wasn't as clear as I was hoping.)
by celia
Mon Apr 09, 2018 10:48 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7914

Re: Why not annuitize most of portfolio?

More problems when annuitizing: * You and your spouse could both die next year and your heirs would get nothing from that money that went into the annuity. * You could have Long Term Care expenses down the line, but the annuity would be paying out in relatively even amounts each year (even if COLA a...
by celia
Mon Apr 09, 2018 10:35 pm
Forum: Personal Consumer Issues
Topic: Persian Rug Passed Down From Grandmother
Replies: 28
Views: 2030

Re: Persian Rug Passed Down From Grandmother

Depending on the design, if it is too big for you, why not cut it down or into a couple of smaller rugs?

Do you have siblings or cousins who would want part of grandmother's rug?
by celia
Mon Apr 09, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Higher total income in retirement than during working?
Replies: 51
Views: 4437

Re: Higher total income in retirement than during working?

My understanding of successful retirement is to have adequate income to cover the expenses in retirement. I think the above statement should be: My understanding of successful retirement is to have adequate income to cover retirement expenses. Many of us find that living expenses in retirement are ...
by celia
Mon Apr 09, 2018 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Parents have zero savings. What can I do?
Replies: 168
Views: 13796

Re: Parents have zero savings. What can I do?

First of all, you need to shore up your own retirement plans. You can't help someone else (not that you're volunteering to) if you can't first take care of yourselves. Are you saving money regularly? Are you properly insured? Do you plan to start SS at 70? Will your house be paid off before you reti...
by celia
Sun Apr 08, 2018 11:48 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring Newlywed Finances for Fairness and Less Arguments
Replies: 56
Views: 4317

Re: Structuring Newlywed Finances for Fairness and Less Arguments

From a fairness standpoint though, I put in longer hours between the job and additional work from managing rental properties, so should I be getting more discretionary spending (if not, less motivation for me to do be doing all this extra work)? What if your wife takes a few years off work to stay ...
by celia
Fri Apr 06, 2018 12:17 am
Forum: Investing - Help with Personal Investments
Topic: What should I sell?
Replies: 19
Views: 2162

Re: What should I sell?

You'll likely get better answers if you give the full name of each holding (edit the original post), show the Expense Ratio, if any, and yearly dividends. Do you expect all of us to do the look-ups for you? What I wouldn't sell is 1. NHMAX since you are getting 5% tax-free each year. Pretty good! I ...
by celia
Thu Apr 05, 2018 2:15 pm
Forum: Investing - Theory, News & General
Topic: JAMA article's health implications for asset allocation
Replies: 28
Views: 2415

Re: JAMA article's health implications for asset allocation

No statistician here - but association is not causation. Maybe, for example, health problems and/or risks cause sudden asset loss (could be many reasons of the health problems) Agree that association is not causation, but this was a long term (20 year) study in which they regularly checked in with ...
by celia
Thu Apr 05, 2018 1:57 pm
Forum: Investing - Theory, News & General
Topic: JAMA article's health implications for asset allocation
Replies: 28
Views: 2415

Re: JAMA article's health implications for asset allocation

I took a different route to get to the same destination as you. The guiding principle for my route were two key decisions for my finances after retirement: (1) Delay taking Social Security until I turn 70 years old. (2) Convert all my retirement accounts into Roth. In order to assure that I can do ...
by celia
Thu Apr 05, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Used a Healthcare Broker--and I liked it!
Replies: 15
Views: 2105

Re: Used a Healthcare Broker--and I liked it!

Tanelorn wrote:
Thu Apr 05, 2018 10:09 am
OnTrack wrote:
Thu Apr 05, 2018 12:03 am
How does one get a group plan if not employed or a business owner?
You don't, or you start a business and deal with payroll, benefits, etc.
I think the assumption is that if you're able to work/run a business, you aren't seriously ill, so you can get decent rates.
by celia
Thu Apr 05, 2018 12:50 pm
Forum: Personal Consumer Issues
Topic: new mattress/bed - king size upstairs
Replies: 10
Views: 1133

Re: new mattress/bed - king size upstairs

I've done a search and read a thread or 2 on new mattresses here...we're looking at purchasing soon...and Mrs. Guitarguy has demanded we go from Queen to King. Little does she know I'm still going to hog the bed and sleep on top of her...but that's another story. Since you brought it up, maybe you ...
by celia
Wed Apr 04, 2018 5:56 pm
Forum: Personal Consumer Issues
Topic: College freshman shopping—what don’t we need?
Replies: 45
Views: 2771

Re: College freshman shopping—what don’t we need?

As far as dorm items, he/she should wait until a roommate is assigned, then coordinate with them. The more expensive items can be HS graduation gifts. So no need to do anything now. As far as academic items, the student can't do much until he/she is registered for classes and gets the textbooks (pap...
by celia
Wed Apr 04, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Used a Healthcare Broker--and I liked it!
Replies: 15
Views: 2105

Re: Used a Healthcare Broker--and I liked it!

And why couldn't you talk to a few health insurance companies directly and pay their full premium without using Obamacare? Was that considered? Since this broker works for an agency (if I understand you correctly), he will only tell you about products he knows about. There's nothing to stop you from...
by celia
Wed Apr 04, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 5618

Re: NY passes law to get around SALT limit

The recent changes in federal tax law seemed to make things a little simpler. The above programs make things more complicated.

No wonder the average person has trouble understanding their taxes!

Don't we promote simplicity on this board, where possible?
by celia
Wed Apr 04, 2018 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - contributed to Roth directly
Replies: 9
Views: 899

Re: Backdoor Roth - contributed to Roth directly

Note that you need to REMOVE the Excess Contribution, not WITHDRAW it. * You will also get a 1099-R for the Removal of the Excess Contribution and its growth. There will be no tax on the contribution that is removed, but the growth will be taxed. In addition, you will have to generate Form 5329 to ...
by celia
Wed Apr 04, 2018 12:45 pm
Forum: Personal Consumer Issues
Topic: Want/need some income in semi-retirement
Replies: 90
Views: 6248

Re: Want/need some income in semi-retirement

AirBnB host

Teach classes at your local parks & rec or at the senior center

Check on houses of people in your community who are out of town. Feed their pets?

Do volunteer work in your community. Some of those jobs can lead to paying jobs if you end up being good at what you do.
by celia
Wed Apr 04, 2018 12:51 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - contributed to Roth directly
Replies: 9
Views: 899

Re: Backdoor Roth - contributed to Roth directly

First, go to the transaction history of the traditional IRA and confirm there was no activity in the account for 2016 or 2017. (If there was, the problem is different than what you have described.) You have what is called an Excess Contribution for each year. Yes, you can re-characterize the 2017 co...