Thanks, good to know it is as simple as it seemed!
It is for my mom, right now I'm going off the assumption that she said something completely different and caused confusion. If the next communication, which I'm helping write, doesn't clear it up, will definitely push her to switch lawyers.
Search found 390 matches
- Wed Feb 28, 2024 10:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Leaving IRA to DAF (donor advised fund) on death, a sanity check
- Replies: 45
- Views: 3564
- Wed Feb 28, 2024 8:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: Leaving IRA to DAF (donor advised fund) on death, a sanity check
- Replies: 45
- Views: 3564
Leaving IRA to DAF (donor advised fund) on death, a sanity check
Situation: Would like to leave entirety of traditional IRA to Fidelity Charitable (DAF) upon death of account owner. We are getting mixed answers on details regarding estate valuation for (potential) estate tax purposes, and would like to sanity check. For the transaction, does it: A) Count as a full withdrawal of the IRA, and then a matching charitable deduction for the contribution to the DAF, ie. it is added to the estate value then deducted as charitable contribution? B) Pass directly to the DAF, and neither count in the estate value nor qualify for a charitable deduction? My research says A, but being paranoid because of lawyer statements.* Bonus question: On the presumption that at least the value of the IRA is going to be donated to ...
- Wed Feb 21, 2024 11:54 pm
- Forum: Personal Consumer Issues
- Topic: Help my kid out - International Relations Masters
- Replies: 38
- Views: 3402
Re: Help my kid out - International Relations Masters
No, just a brain fart.SC Anteater wrote: ↑Wed Feb 21, 2024 3:33 pmSince American is also in DC is there a particular reason you left them off your list? Are they a notch below those 3?Scotttheking wrote: ↑Wed Feb 21, 2024 3:02 pm Gwu, georgetown, johns hopkins. Being local makes it easier to go to events, meet folks, have a part time internship during the year, etc.
summer internships won’t matter where she is except for finding housing.
- Wed Feb 21, 2024 3:05 pm
- Forum: Personal Consumer Issues
- Topic: Do you use a second refrigerator/freezer?
- Replies: 74
- Views: 4558
Re: Do you use a second refrigerator/freezer?
36” counter depth french door in the kitchen, 33” counter depth all fridge and a 28” upright manual defrost freezer in the pantry. At times no need for second fridge, but it often has food, especially after a bog produce run. Plus holidays, etc. when quite full. Beverages we offer are all in second fridge door.
- Wed Feb 21, 2024 3:02 pm
- Forum: Personal Consumer Issues
- Topic: Help my kid out - International Relations Masters
- Replies: 38
- Views: 3402
Re: Help my kid out - International Relations Masters
Gwu, georgetown, johns hopkins. Being local makes it easier to go to events, meet folks, have a part time internship during the year, etc.
summer internships won’t matter where she is except for finding housing.
summer internships won’t matter where she is except for finding housing.
- Tue Feb 20, 2024 9:44 pm
- Forum: Personal Finance (Not Investing)
- Topic: Donor Advised Fund - Tax Deduction Question
- Replies: 26
- Views: 1897
Re: Donor Advised Fund - Tax Deduction Question
To phrase differently: you take the deduction when you give the money to the daf, not when the daf distributes it to your chosen charity.
- Sun Feb 18, 2024 12:58 am
- Forum: Personal Consumer Issues
- Topic: HVAC Replacement - Connecticut - Trane + thermo pride oil furnace
- Replies: 46
- Views: 3554
Re: HVAC Replacement - Connecticut - Trane + thermo pride oil furnace
Yeah, get the heat pump. There’s little reason not to, especially with the $2000 tax credit for them.
- Sun Feb 18, 2024 12:45 am
- Forum: Investing - Theory, News & General
- Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
- Replies: 7737
- Views: 1336995
Re: The Final, Definitive Thread on Brokerage Transfer Bonuses
I did this one (for the taxable promo) about a month ago. They pay fast, but 12mo hold time makes it not the first choice. Their KYC/identity process was some friction + asking me about how I accumulated my wealth (all for the $100K level too!). Also if you want to withdrawal via ACH you have to submit statements and identity docs on top of account opening docs (if requested). Today I received an email from firstrade about a new ira promotion which they hadn't had before but in the terms it states that the bonus will be paid to a taxable account and the tiers are fairly mundane but it's there if you're interested. https://www.firstrade.com/accounts/promos Worth it still? I’m considering it for a higher tier as I need to move money anyway.
- Thu Feb 08, 2024 12:07 am
- Forum: Personal Finance (Not Investing)
- Topic: When you gift a 529, who "receives" the gift, the 529 account owner or the beneficiary?
- Replies: 15
- Views: 1527
Re: When you gift a 529, who "receives" the gift, the 529 account owner or the beneficiary?
Why not use 529 superfund rules, put it all in 529, and count it over 5 years?
- Sat Feb 03, 2024 9:08 pm
- Forum: Personal Investments
- Topic: Where to park 200K for 4 years
- Replies: 5
- Views: 1264
Re: Where to park 200K for 4 years
For CA taxes do the math if a treasury bond or a CD makes the most sense, then buy it.
- Sun Jan 28, 2024 11:39 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth conversions in the 22 & 24% tax brackets.
- Replies: 144
- Views: 14402
Re: Roth conversions in the 22 & 24% tax brackets.
Thanks for sticking with me. In reality, we have two pensions at 48.3k, & currently one SS 23.3 taxable. (but next year (25) that will add 2nd SS of 38ktaxable). Only a little over 10k div and interest, for a base total now of @81.6(which includes SS). And 128k in tIRA conversions . We were just under the IRMAA MAGI of 210 for 2023. Are you saying if you exceed the 250 because of SS and tIRA conversions, because your base income is 58.3k (two pensions and 10k dividends), you can convert as much as you want and not have the 3.8% NIT tax? and yet, the directions say you enter your total taxable income from 1040. I wish the IRS would just say clearly "NIT of 3.8% is due IF you have income of over 250k that does not include Social Sec...
- Sun Jan 28, 2024 4:34 am
- Forum: Personal Consumer Issues
- Topic: Garage EV Charger Options - which way to go?
- Replies: 58
- Views: 5012
Re: Garage EV Charger Options - which way to go?
I have a 40 AMP level 2 charger, but similar issue, the car will try and draw more than 40 AMPs, I had to turn it down on the car side (Ioniq 5). You shouldn't have to do this if your EVSE is installed and configured correctly. Your EVSE has no way of knowing how big a circuit it it connected to. When the EVSE is installed it must be programmed so that it knows the circuit size. I know that’s the way it is supposed to work, but somebody fell down on the job. The EVSE knows it is connected to a 50A circuit, no issue there, the EVSE faulted, not the breaker, I know there’s a charge negotiation where the charger announces its capacity and the car tries to draw that amount, somebody misunderstood the other. I assume the charger tried to announ...
- Sun Jan 28, 2024 4:32 am
- Forum: Personal Consumer Issues
- Topic: Garage EV Charger Options - which way to go?
- Replies: 58
- Views: 5012
Re: Garage EV Charger Options - which way to go?
60amp 240 volt. Enough to charge 2 cars in 12 hours for all but them both being fully drained and need to get to 100%. If you are that rare case, then you want a sub panel in the garage.
- Thu Jan 25, 2024 11:06 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth conversions in the 22 & 24% tax brackets.
- Replies: 144
- Views: 14402
Re: Roth conversions in the 22 & 24% tax brackets.
I’m doing to a non aggressive top of 24% bracket. If it reverts as planned I win, if it doesn’t I guess I won as well with lower taxes on future earnings.
- Thu Jan 25, 2024 9:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Any reason to not superfund 529?
- Replies: 47
- Views: 4084
Re: Any reason to not superfund 529?
Reason not to would be if you are going to deplete your taxable accounts that serve as a buffer. Ex: i was superfunding $50k every 5 years but stopped working last summer and am living a bit off taxable, so ai did not superfund this year because there’s no longer enough to refill. I’ll still have plenty for college, but I’ll pay a few dollars in taxes for not putting the money in up front.
- Tue Jan 16, 2024 5:05 pm
- Forum: Personal Consumer Issues
- Topic: Any Philips Hue users?
- Replies: 16
- Views: 1657
Re: Any Philips Hue users?
I’ve got about 70 hue lights in my house. You’ll want the hub, not the short range of bluetooth.
I wouldn’t do hue for the floodlights, look at tplink kasa for a smart switch on your floods.
I wouldn’t do hue for the floodlights, look at tplink kasa for a smart switch on your floods.
- Tue Jan 16, 2024 10:59 am
- Forum: Personal Consumer Issues
- Topic: Do you use BOTH gas AND electric (heat pumps) to heat your house?
- Replies: 26
- Views: 3321
Re: Do you use BOTH gas AND electric (heat pumps) to heat your house?
I’d start with setting the gas to the temperature you want the whole house to be and setting the heat pumps a touch lower.
For my house we run central heat during the day, turn it down at night, and bedroom heat pumps at night to only heat the rooms in use.
For my house we run central heat during the day, turn it down at night, and bedroom heat pumps at night to only heat the rooms in use.
- Mon Jan 08, 2024 12:05 am
- Forum: Personal Investments
- Topic: Help switching mom's money around / is an SMA [Separately Managed Account] appropriate?
- Replies: 12
- Views: 1385
Re: Help switching mom's money around / is an SMA appropriate?
I would dump the pioneer funds and replace with a mix to her risk tolerance of total world and total bond. As you said, this is fun money for her, giving more flexibility.
- Sun Jan 07, 2024 11:22 pm
- Forum: Personal Investments
- Topic: Help switching mom's money around / is an SMA [Separately Managed Account] appropriate?
- Replies: 12
- Views: 1385
Re: Help switching mom's money around / is an SMA appropriate?
I wouldn’t, but you could do worse. You can’t generate tax savings in the ira.
However, regardless of approach, make sure your plan for liquidating taxable funds doesn’t generate an outsized tax bite. If on medicare, look up irmaa, social security taxable amounts, etc. This might be the thing you change over a period of several years.
However, regardless of approach, make sure your plan for liquidating taxable funds doesn’t generate an outsized tax bite. If on medicare, look up irmaa, social security taxable amounts, etc. This might be the thing you change over a period of several years.
- Sun Jan 07, 2024 12:40 am
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2023
- Replies: 434
- Views: 153783
- Fri Sep 29, 2023 1:35 pm
- Forum: Personal Finance (Not Investing)
- Topic: Solar Power During New Construction
- Replies: 7
- Views: 859
Re: Solar Power During New Construction
Engage now. Since you are building new it would be worth comparing panels vs. solar shingles and building the roof accordingly.
- Sun Sep 24, 2023 4:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: How much to target in 529 for covering full tuition?
- Replies: 75
- Views: 8363
Re: How much to target in 529 for covering full tuition?
To answer the question, I’m aiming for 100% of top private college cost with my inflation estimate. My hope is it'll instead be used for grad school too, but the choice will be made by the kids.
- Sun Sep 10, 2023 8:26 am
- Forum: Investing - Theory, News & General
- Topic: 529 Plan as Emergency Fund?
- Replies: 10
- Views: 1644
Re: 529 Plan as Emergency Fund?
It’ll work..maybe. But way too complicated in my opinion. If you are in a high tax bracket you probably have a taxable account, draw some from that in an emergency.
- Sun Sep 10, 2023 7:31 am
- Forum: Personal Investments
- Topic: NYSaves 529 Fund Choice?
- Replies: 10
- Views: 1036
Re: NYSaves 529 Fund Choice?
I’m in aggressive growth.
- Thu Sep 07, 2023 8:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: How much mortgage to take out when all-cash is an option?
- Replies: 36
- Views: 2717
Re: How much mortgage to take out when all-cash is an option?
Were you me, I’d pay what you can without taking high gains and without putting yourself in a tough position if you were to lose your job the day after closing.
- Fri Sep 01, 2023 12:01 pm
- Forum: Personal Consumer Issues
- Topic: All electric HVAC on solar panel home?
- Replies: 48
- Views: 3866
Re: All electric HVAC on solar panel home?
It has no effect on what your panels produce or their efficiency. Since your system is grid tied, what you use in excess of what you produce comes from the power company.
- Fri Sep 01, 2023 11:52 am
- Forum: Personal Consumer Issues
- Topic: All electric HVAC on solar panel home?
- Replies: 48
- Views: 3866
Re: All electric HVAC on solar panel home?
What’s the question? Switching to electric (heat pump) when you need replacement is a good idea. You’ll use more electricity then you did before.
- Mon Aug 28, 2023 1:08 pm
- Forum: Personal Investments
- Topic: 500k in 529s with Kids in Elementary School
- Replies: 15
- Views: 2615
Re: 500k in 529s with Kids in Elementary School
I’d use towards private school.
- Mon Aug 14, 2023 5:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: Is Fidelity Charitable Forwarding Your Donor Information?
- Replies: 13
- Views: 1211
Re: Is Fidelity Charitable Forwarding Your Donor Information?
Curious, did they log in to their fidelity charitable view and check the history?Cruise wrote: ↑Mon Aug 14, 2023 4:27 pmHmm...I think my friend and I have determined it was from me....But, thanks for that thought.livesoft wrote: ↑Mon Aug 14, 2023 4:24 pmMaybe the donation was not from you? Lots of investors use Fidelity DAF. We have even sometimes donated to the same charity twice: One time anonymously and another time not.Cruise wrote: ↑Sat Aug 12, 2023 8:20 pmRecently, a friend of mine who does the books for one of our charities noticed an EFT contribution from Fidelity Charitable, but could find no evidence that Fidelity ever forwarded our donor information to them. This friend contacted me to see if the EFT was from me.
- Wed Jul 19, 2023 6:49 pm
- Forum: Investing - Theory, News & General
- Topic: How often do you check the market?
- Replies: 91
- Views: 7552
Re: How often do you check the market?
6-8 times a day is my guess
- Sat Jul 01, 2023 10:46 pm
- Forum: Personal Consumer Issues
- Topic: Good/reliable PM2.5 particulate monitor?
- Replies: 11
- Views: 1051
- Mon Jun 19, 2023 10:18 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1201594
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
thx!alluringreality wrote: ↑Mon Jun 19, 2023 5:05 pmThe January issue cannot be redeemed until next January. The May 2022 issue will get past the 3 month penalty on the 6.48% payments in August.Scotttheking wrote: ↑Mon Jun 19, 2023 4:19 pm Mind if I take advantage of the collective knowledge on redemptions?
https://tipswatch.com/2023/03/29/want-t ... ve-a-plan/
https://eworkpaper.com/ibond.php
- Mon Jun 19, 2023 4:19 pm
- Forum: Investing - Theory, News & General
- Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
- Replies: 6651
- Views: 1201594
Re: I Bonds Mega Thread (I Bond Heads Rejoice!)
Mind if I take advantage of the collective knowledge on redemptions?
When should I redeem so that the 3 month penalty is the lower interest rate (probably doesn’t matter for the 2023 buy due to 1 year req)?
Issue date:
05-01-2022 3.38%
01-01-2023 6.89%
When should I redeem so that the 3 month penalty is the lower interest rate (probably doesn’t matter for the 2023 buy due to 1 year req)?
Issue date:
05-01-2022 3.38%
01-01-2023 6.89%
- Sun Jun 18, 2023 8:57 am
- Forum: Personal Investments
- Topic: Broke up with EJ. Should I liquidate old funds to buy index funds and just eat the taxes?
- Replies: 28
- Views: 2548
Re: Broke up with EJ. Should I liquidate old funds to buy index funds and just eat the taxes?
I wouldn’t sell off american funds A or F shares if it involves taking taxable gains. I would evaluate other companies’ funds to see about selling.
- Thu Jun 08, 2023 11:23 pm
- Forum: Personal Finance (Not Investing)
- Topic: Ally Online Savings/Money Market Rate Increases
- Replies: 745
- Views: 124423
Re: Ally Online Savings/Money Market Rate Increases
I was dumping it straight to core but now changed it to one of the discretionary buckets.The_Fourth_Doctor wrote: ↑Thu Jun 08, 2023 12:26 pmDo you have a process for allocating the accumulated interest? I was keen on the bucket idea until I found out you can have the interest on the entire account deposited in only one bucket. I'm now thinking of opening multiple accounts rather than using the buckets. It seems like too much of an effort to figure out how much interest should be placed in my emergency fund bucket, vacation fund bucket, etc.
Sinking fund buckets are budgeted for what is needed.
- Tue Jun 06, 2023 6:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: Ally Online Savings/Money Market Rate Increases
- Replies: 745
- Views: 124423
Re: Ally Online Savings/Money Market Rate Increases
For me, because I have a good setup with direct deposits and auto transfers and 1 account using buckets and it isn’t worth rebuilding elsewhere. Ally is good enough. Doesn’t mean I keep all my cash there though.SquawkIdent wrote: ↑Tue Jun 06, 2023 4:29 pmNot really sure why people are even using these types of accounts currently. Much better rates elsewhere for these funds.indexfund56 wrote: ↑Tue Jun 06, 2023 3:39 pmYour Online Savings Account rate is increasing from 3.85% to 4.00% Annual Percentage Yield (APY) on all balance tiers. Your new APY goes into effect on 06/07/2023, and will appear in your account on 06/08/2023.
- Sun Jun 04, 2023 4:31 pm
- Forum: Personal Consumer Issues
- Topic: What to do with an old (but great) kitchen
- Replies: 14
- Views: 1456
Re: What to do with an old (but great) kitchen
Refinish (or paint) the cabinets. Buy new appliances. Replace countertop and light fixtures if you like. Done.
- Sun Mar 19, 2023 11:46 am
- Forum: Personal Finance (Not Investing)
- Topic: Would you Use Merril Edge if it was not for BOA rewards?
- Replies: 20
- Views: 1590
- Thu Mar 16, 2023 1:38 am
- Forum: Personal Finance (Not Investing)
- Topic: What's Your Credit Card Rewards Strategy?
- Replies: 7203
- Views: 1413108
Re: What's Your Credit Card Rewards Strategy?
Just picked up 2 SW cards for wife and I. The companion passes will cover the kids.
- Mon Mar 13, 2023 5:42 pm
- Forum: Investing - Theory, News & General
- Topic: [Bank failure discussion mega-thread]
- Replies: 2482
- Views: 211925
Re: [Bank failure discussion mega-thread]
I honestly don't think there's much that any bank can do to prevent insolvency if 24% of deposits are withdrawn within 24 hours. I'd wager that most banks would have met the same outcome, unfortunately, which is why bank runs are a problem. Newbie alert! Can I ask a question? Why are bank runs a problem, at least for federal reserve member banks, which I read SVB was a part of? I thought the whole point of 'elastic currency' and the fed being lender of last resort was specifically to solve this very thing..? I've been wondering the same thing. Why didn't SVB just sell more assets or borrow money against assets to meet deposit demands. I think the real issue isn't the run on deposits. It's simply the fact that the bank is insolvent which th...
- Sun Jan 01, 2023 12:43 pm
- Forum: Personal Finance (Not Investing)
- Topic: Southwest cancelation + non refundable resort
- Replies: 54
- Views: 5410
Re: Southwest cancelation + non refundable resort
I want 8foot7 to be my driver every time, that would be amazing coverage!TravelGeek wrote: ↑Sun Jan 01, 2023 12:39 pmHopefully you would have a contract with them that limits your liability. Imagine you were an Uber driver, and drove a passenger from the airport to the cruise port, your car broke down and they missed their ship. You would hopefully have excluded or limited consequential damages.
- Sun Jan 01, 2023 12:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Southwest cancelation + non refundable resort
- Replies: 54
- Views: 5410
Re: Southwest cancelation + non refundable resort
Hi all We were booked for Christmas at Puerto Vallarta. We arrived at the airport. Flight got delayed and after 4 hours of wait the flight was canceled. Southwest offered us a flight after 6 days Our resort reservation was non refundable. The resort offered to move the reservation to another date to avoid a total loss. We have complex schedules so it is hard to find a common time for all of us. We have accepted another date to avoid losing the entire (large) payment. Southwest was unable to offer any resolution for the issue and left us a very negative experience overall for their service Claim it under your trip interruption insurance. The one you bought because it was a complex trip. Nonrefundable hotel bookings are cheaper because they ...
- Thu Dec 15, 2022 9:53 am
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2022
- Replies: 473
- Views: 58120
Re: Fidelity free Turbotax 2022
PCGMisterBill wrote: ↑Wed Dec 14, 2022 11:36 pmActive Trader Pro or Private Client Group/Premium Services?
- Wed Dec 14, 2022 11:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2022
- Replies: 473
- Views: 58120
Re: Fidelity free Turbotax 2022
No rep, got offer.
- Wed Dec 14, 2022 8:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: Fidelity free Turbotax 2022
- Replies: 473
- Views: 58120
Re: Fidelity free Turbotax 2022
Thanks all! $5 wasn't worth the quibble, got it!
- Wed Nov 30, 2022 7:07 pm
- Forum: Personal Finance (Not Investing)
- Topic: Unique Home Situation: Stay Put, Rent, or Buy?
- Replies: 43
- Views: 3842
Re: Unique Home Situation: Stay Put, Rent, or Buy?
Move and rent. Keep current house if you love it.
- Wed Nov 23, 2022 4:05 pm
- Forum: Personal Consumer Issues
- Topic: Check refrigerated items on a 30 hour intl airplane trip?
- Replies: 53
- Views: 6000
Re: Check refrigerated items on a 30 hour intl airplane trip?
Found it: https://polarbearcoolers.com/collections/soft-coolers Is what we used to fly food to Asia. Packed it, closed it, then put it inside a suitcase for protection.
- Sun Nov 20, 2022 10:04 pm
- Forum: Personal Consumer Issues
- Topic: Check refrigerated items on a 30 hour intl airplane trip?
- Replies: 53
- Views: 6000
Re: Check refrigerated items on a 30 hour intl airplane trip?
Be aware linked cooler says 24 hour cooler. One I used (I forget brand) was rated at 2-3 days.
- Fri Nov 18, 2022 12:20 am
- Forum: Personal Consumer Issues
- Topic: Check refrigerated items on a 30 hour intl airplane trip?
- Replies: 53
- Views: 6000
Re: Check refrigerated items on a 30 hour intl airplane trip?
Get a top rated soft sided cooler, fill it with stuff and ice packs, put it in a suitcase, check it. I’ve done that before, it’ll be fine.
- Wed Nov 16, 2022 2:15 pm
- Forum: Personal Consumer Issues
- Topic: Range Hood Recommendations
- Replies: 15
- Views: 2205
Re: Range Hood Recommendations
1cfm per 100btu. So, for example, if your cooktop can do a total of 60k btu, you want at least a 600cfm fan. I did mine (gas) 6” wider than the cooktop.