Search found 198 matches

by LeeInTN
Sun Oct 25, 2020 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Your General Thoughts on My Overall Picture
Replies: 12
Views: 995

Re: Seeking Your General Thoughts on My Overall Picture

Looks like you're in pretty good shape. Couple of general comments: 2) I'd feel safer in your situation if I bought another 20 year level term policy for about $300K - $400K. (Just for you) 4) Try and seek ways to reduce stress at your current earnings level. If that's not possible, accept the redu...
by LeeInTN
Sun Oct 25, 2020 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Your General Thoughts on My Overall Picture
Replies: 12
Views: 995

Re: Seeking Your General Thoughts on My Overall Picture

Looks like you're in pretty good shape. Couple of general comments: 1) Make sure your bond holdings are in the tax-deferred accounts. 2) I'd feel safer in your situation if I bought another 20 year level term policy for about $300K - $400K. (Just for you) 3) For education purposes, bulk up your taxa...
by LeeInTN
Tue Jul 07, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 rates for Engineering Consultant
Replies: 34
Views: 2484

Re: 1099 rates for Engineering Consultant

OP: Have you considered working through a staffing agency? It's worth considering, since that would reduce the personal hassle (Quarterlies, SET, Liability, etc) and you'd be paid as a W2. Usually there are still no regular "benefits." I'm doing this now, and although my direct 1099 Rate ...
by LeeInTN
Tue Jul 07, 2020 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 rates for Engineering Consultant
Replies: 34
Views: 2484

Re: 1099 rates for Engineering Consultant

OP: Have you considered working through a staffing agency? It's worth considering, since that would reduce the personal hassle (Quarterlies, SET, Liability, etc) and you'd be paid as a W2. Usually there are still no regular "benefits." I'm doing this now, and although my direct 1099 Rate i...
by LeeInTN
Fri May 15, 2020 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Discarding old tax returns
Replies: 62
Views: 5731

Re: Discarding old tax returns

We have ours back to '71 here in the file cabinet. It's interesting and helps us remember where we were working and what we earned. Kids can dump it all when the time comes.
by LeeInTN
Sat Feb 22, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Another TurboTax question. Foreign tax credit
Replies: 2
Views: 388

Re: Another TurboTax question. Foreign tax credit

I opened another thread here the other day on a related, but not precisely the same, problem with TT and Foreign Taxes. In my situation, 1116 is required but TT did not import the actual foreign dividends. Instead, it prefilled that question with the actual tax I'd paid through each international fu...
by LeeInTN
Thu Feb 20, 2020 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

Thank you. The second portion is especially interesting.
by LeeInTN
Wed Feb 19, 2020 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

Again, very helpful info. In this case, none of the aforementioned complexities exist. The disclaimant simply doesn't need the cash and wishes to share with sibs who are not as financially secure. My mention of the $15K per person is just to avoid filling out another form. No limits or exclusions wi...
by LeeInTN
Wed Feb 19, 2020 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

Bsteiner and gill are the experts. Obviously follow all the due diligence they addressed. I will just add that I was in this situation with a bank account when my father died. My siblings and I were listed as 4 equal beneficiaries. We had 2 siblings disclaim. The bank would not provide a form as th...
by LeeInTN
Wed Feb 19, 2020 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

Thanks for the clarifications of the options. This has been helpful. I'll ask the folks involved to check with the specifics on how the POD is written at the bank holding the assets. The upcoming heirs will need to understand the necessity of modifying the POD language if necessary; or just spacing/...
by LeeInTN
Wed Feb 19, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

If the bank will just issue the checks directly to the heirs, then this is all inheritance and all is well. If the disclaimant is required to take possession and gift the extra to the others, then that could be problematic due to gifting limits. Will a bank simply take the direction of the disclaim...
by LeeInTN
Wed Feb 19, 2020 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

If the bank will just issue the checks directly to the heirs, then this is all inheritance and all is well. If the disclaimant is required to take possession and gift the extra to the others, then that could be problematic due to gifting limits. Will a bank simply take the direction of the disclaima...
by LeeInTN
Wed Feb 19, 2020 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

How big is this bank account? Unless it's quite large just withdraw the funds and split it among all the others. I don't see where you need a formal disclaimer unless there are gift tax ramifications involved. In other words, if there are four children with only three accepting the transfer and the...
by LeeInTN
Wed Feb 19, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

Re: How One POD Beneficiary Can Disclaim Inheritance

Just for clarification, is the POD to "Bob and Carol and Ted and Alice" or "My children, per stirpes" or some other designation? And is this Tennessee? Yes, this is Tennessee. The POD names each person individually with SSN but doesn't actually state relationship. All are surviv...
by LeeInTN
Wed Feb 19, 2020 10:18 am
Forum: Personal Investments
Topic: Paul Merriman "Ultimate buy-and-hold" VS. 3 Fund
Replies: 62
Views: 5544

Re: Paul Merriman Permanent Portfolio VS. 3 Fund

There are some old threads here that detail some long-term backtesting that shows slightly higher returns with less volatility when tilting toward value and small cap. Many have achieved this without adding 8 - 10 funds, but just a few.
by LeeInTN
Wed Feb 19, 2020 9:59 am
Forum: Personal Finance (Not Investing)
Topic: How One POD Beneficiary Can Disclaim Inheritance
Replies: 28
Views: 1701

How One POD Beneficiary Can Disclaim Inheritance

Simple Bank Account/CD with POD listing multiple adult children. One child wishes to disclaim her portion and allow hers to pass to siblings equally. Is this simple or complicated?
by LeeInTN
Sun Feb 16, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Risky Financial Decisions You’ve Made in the Past
Replies: 49
Views: 3667

Re: Risky Financial Decisions You’ve Made in the Past

Working for a big tech company during the internet runup 1999 - 2000, a chunk of compensation was stock options. Just before the crash of 2000 I had options that were vested and exercisable at a large gain, but didn't do so. Why? I was so close to the company and so committed to it that I couldn't s...
by LeeInTN
Fri Feb 14, 2020 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: PSA Form 8606 available on TurboTax
Replies: 18
Views: 1435

Re: PSA Form 8606 available on TurboTax

Interesting. I've been waiting for it, and have signed up with TT to notify me when it becomes available. No notification yet.
by LeeInTN
Mon Feb 10, 2020 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Foreign Tax Credit Caution IRS Form 1116
Replies: 2
Views: 399

Re: TurboTax Foreign Tax Credit Caution IRS Form 1116

Might be a better example to use a figure higher than 300, since that is the threshold for avoiding the 1116 altogether for a single filer (600 for joint filers). Seems like an unlikely error for Ttax to make when there are no current changes being programmed, but anything is possible. I edited the...
by LeeInTN
Mon Feb 10, 2020 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Foreign Tax Credit Caution IRS Form 1116
Replies: 2
Views: 399

TurboTax Foreign Tax Credit Caution IRS Form 1116

This one might snag you, so beware: When TT already has your Foreign Tax Paid and is going through the questions regarding "How much income did you receive from this foreign investment" >> It will automagically pre-fill with the amount of tax you paid. Read that again: If you earned $10,00...
by LeeInTN
Mon Feb 10, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's oncologist has stopped treatment, is recommending hospice
Replies: 93
Views: 15154

Re: Wife's oncologist has stopped treatment, is recommending hospice

OP, I am truly sorry you and your family are experiencing this tragic situation. When you evaluate the different hospice organizations, please consider more strongly the not-for-profit provider(s) in your area. All of these groups rely on reimbursements for survival, yet the patients and families us...
by LeeInTN
Mon Feb 10, 2020 1:44 pm
Forum: Personal Consumer Issues
Topic: Retirement: Filling the time?
Replies: 96
Views: 10735

Re: Retirement: Filling the time?

Please seriously consider dancing. Argentine Tango is more of a "specialty" dance and is plenty of fun, but don't limit yourself. Find a local pay-as-you-go studio and learn all sorts of ballroom, swing, and latin dancing. You'll be surprised at the number of introverts who are dancing in ...
by LeeInTN
Wed Jan 22, 2020 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance vs ROTH Conversions
Replies: 8
Views: 518

Re: Life Insurance vs ROTH Conversions

We're doing Roth conversions (a little later than we should have - but we'll avoid RMDs and kids won't be taxed) and are being beaten up by IRMAA, but it still makes sense for us.
by LeeInTN
Sat May 25, 2019 7:58 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 523
Views: 135015

Re: If your net worth is over $3 million, how did you do it?

It was so much easier than I expected! It took us roughly 20 years on teacher salaries. 1. LBYM. Every day. Year after year. 2. STC (especially during the Great Recession and the Glorious Great Recovery) 3. Never pay a dollar of interest 4. Max out retirement funds, especially matching ones 5. Reti...
by LeeInTN
Thu May 23, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to help DW to manage the invested money ??
Replies: 36
Views: 3229

Re: How to help DW to manage the invested money ??

... For many people, the simpler way (spouses owning their assets jointly and having them pass to the surviving spouse by operation of law) is fine. But the original poster was concerned that his wife wouldn't be able to deal with the assets. So he might want to provide for his wife in trust rather...
by LeeInTN
Thu May 23, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Termite Control - worthwhile or a scam
Replies: 11
Views: 1500

Re: Termite Control - worthwhile or a scam

Terminix is making their money on the too-high residual quarterly/annual "inspection." Termite control is a good idea, and if you'd like the peace of mind of having the annual inspection after initial treatment, find a locally owned certified small business and you'll get it done for subst...
by LeeInTN
Thu May 23, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to help DW to manage the invested money ??
Replies: 36
Views: 3229

Re: How to help DW to manage the invested money ??

... For many people, the simpler way (spouses owning their assets jointly and having them pass to the surviving spouse by operation of law) is fine. But the original poster was concerned that his wife wouldn't be able to deal with the assets. So he might want to provide for his wife in trust rather...
by LeeInTN
Thu May 23, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: How to help DW to manage the invested money ??
Replies: 36
Views: 3229

Re: How to help DW to manage the invested money ??

Yes, there's a better way, and there's also a simpler way. The simpler way is to own your assets jointly, and have Wills that leave everything to each other, with a disclaimer trust as backup, and then at the surviving spouse's death to or in trust for your children. You would leave your retirement...
by LeeInTN
Wed May 22, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: How to help DW to manage the invested money ??
Replies: 36
Views: 3229

Re: How to help DW to manage the invested money ??

We're in our sixties and have been on the slice and dice program with taxable long enough that consolidation would result in a huge tax bite. With that in mind, our Investment Policy Statement encourages a continuation of the same general allocation after my departure. The IPS has been expanded to i...
by LeeInTN
Wed May 22, 2019 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Health Shares - Need your opinion!?
Replies: 44
Views: 3245

Re: Health Shares - Need your opinion!?

OP, You might also wish to consider some of the new non-ACA health insurance underwritten by real insurance companies. The prices for those are competitive with the Healthshares' monthly amounts. Full disclosure: we have been members of a Healthshare for over 4 years and have been aware of slow-pay ...
by LeeInTN
Mon Feb 18, 2019 10:25 am
Forum: Personal Investments
Topic: conversion to Roth and Net Investment Income Tax (NIIT)
Replies: 10
Views: 1459

Re: conversion to Roth and Net Investment Income Tax (NIIT)

This was quite helpful. Thanks much!
by LeeInTN
Sun Feb 17, 2019 9:08 pm
Forum: Personal Investments
Topic: conversion to Roth and Net Investment Income Tax (NIIT)
Replies: 10
Views: 1459

Re: conversion to Roth and Net Investment Income Tax (NIIT)

Thanks for the guidance. I'm using TT but don't use TT for my state tax, and I can't find where TT does anything with my state tax that I paid in 2018. I'm not itemizing deductions, so that may be what's preventing TT from calculating a number for Line 9b. Is that what's going on? If I calculate 9b ...
by LeeInTN
Sun Feb 17, 2019 6:51 pm
Forum: Personal Investments
Topic: conversion to Roth and Net Investment Income Tax (NIIT)
Replies: 10
Views: 1459

Re: conversion to Roth and Net Investment Income Tax (NIIT)

Interesting reading this after being smacked by the NIIT. I'm in the process of gradually converting a TIRA to Roth, and also did some rebalancing in 2018 (when the S&P 500 peaked and our allocation was out of whack), and both events caused the MAGI to reach the level that the NIIT is painful. N...
by LeeInTN
Tue Jan 29, 2019 6:36 pm
Forum: Personal Consumer Issues
Topic: Help me diagnose a car issue
Replies: 29
Views: 2094

Re: Help me diagnose a car issue

You'd be surprised at how simple it is, so if you have the time, go for it and avoid spending the $$. Be sure and use the correct fluid, though.
Snowman's info and advice are spot-on.
by LeeInTN
Tue Jan 29, 2019 6:21 pm
Forum: Personal Consumer Issues
Topic: Change to Nomorobo/Ooma call blocking.
Replies: 2
Views: 739

Re: Change to Nomorobo/Ooma call blocking.

We've had Ooma block legitimate incoming calls from 800 Numbers, but no other problems. We've noticed fewer telemarketers in the past couple of weeks, so they may have indeed tightened things up a bit. We'll send junk to voicemail to make sure we don't miss something legitimate. Thanks for the heads...
by LeeInTN
Wed Oct 03, 2018 9:40 pm
Forum: Personal Investments
Topic: Rebalancing Forcing Bonds Into Taxable - Which Fund?
Replies: 6
Views: 502

Re: Rebalancing Forcing Bonds Into Taxable - Which Fund?

With a current difference of about 50 basis points between Total Bond and VWIUX, I'll come out a few hundred dollars ahead by going with the Intermediate Term Non Taxable - though the slim response here has kept me still thinking I might be missing something important in my analysis and observation....
by LeeInTN
Wed Oct 03, 2018 3:04 pm
Forum: Personal Investments
Topic: Rebalancing Forcing Bonds Into Taxable - Which Fund?
Replies: 6
Views: 502

Re: Rebalancing Forcing Bonds Into Taxable - Which Fund?

I'd assumed VWIUX met that criteria, but maybe I'm missing something and there's a better option?
by LeeInTN
Wed Oct 03, 2018 11:29 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 4889
Views: 1307007

Re: What Book Are You Currently Reading? Part VI

"Bad Blood" by John Carryrou is a business book that reads like a mystery novel. With the mix of finance and healthcare, Bogleheads should love it.
by LeeInTN
Wed Oct 03, 2018 11:19 am
Forum: US Chapters
Topic: Nashville / Mid-TN Chapter Master Thread
Replies: 47
Views: 15591

Re: Nashville / Mid-TN Chapter Master Thread

Still can't seem to generate any real interest in Nashville
by LeeInTN
Wed Oct 03, 2018 11:15 am
Forum: Personal Investments
Topic: Rebalancing Forcing Bonds Into Taxable - Which Fund?
Replies: 6
Views: 502

Re: Rebalancing Forcing Bonds Into Taxable - Which Fund?

I have been taking all of the dividends from taxable for regular living expenses for several years.
by LeeInTN
Wed Oct 03, 2018 11:11 am
Forum: Personal Investments
Topic: Rebalancing Forcing Bonds Into Taxable - Which Fund?
Replies: 6
Views: 502

Rebalancing Forcing Bonds Into Taxable - Which Fund?

At present all of my deferred accounts are bonds, and all of my taxable is stocks - with the exception of a very small inherited muni-bond account in taxable. I have insufficient space in the deferred accounts for rebalancing even with new money. The existing deferred accounts are a 70/30 split betw...
by LeeInTN
Fri Jul 06, 2018 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Healthcare Sharing?
Replies: 51
Views: 5997

Re: Thoughts on Healthcare Sharing?

One wonders who is attempting to convince whom of what in this thread. A cost-sharing group that practiced #4 or #5 without member awareness wouldn't last long. The groups that have been around a long time are quite clear about their guidelines and clearly are not for everyone. Those who accept the ...
by LeeInTN
Tue May 01, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Healthcare Sharing?
Replies: 51
Views: 5997

Re: Thoughts on Healthcare Sharing?

All of the providers I've presented my card to are familiar with these plans even if not familiar with my specific group. When they see they're going to get paid more than most (if not all) insurance plans would pay, they always accept the repricing and the payment. Nope, it's not insurance. But I'm...
by LeeInTN
Tue Apr 24, 2018 5:19 pm
Forum: Personal Consumer Issues
Topic: Negotiating for a new Toyota.[my fault comparing apples and oranges]
Replies: 36
Views: 6301

Re: Negotiating for a new Toyota.[my fault comparing apples and oranges]

If the car you actually prefer is not in local dealer inventory - and if you don't absolutely have to drive the car off the lot when you visit the dealer - you might find a better deal *at that dealer* on the precise car you want to buy. You'll just have to wait 24 - 48 hours. The Toyota dealer I bo...
by LeeInTN
Tue Jan 16, 2018 9:35 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 4889
Views: 1307007

Re: What Book Are You Currently Reading? Part VI

Sandberg's "Option B' is excellent, as is Adam Grant's "Originals"
by LeeInTN
Tue Jan 16, 2018 9:29 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1503
Views: 178335

Re: What frugal thing did you do today?

Filled the wood stove with wood a couple of times. Even buying the wood cut and stacked is less costly than public utility heating - and the wood was from logging leftovers, so no endangered trees were damaged.
by LeeInTN
Tue Jan 16, 2018 9:22 pm
Forum: Personal Consumer Issues
Topic: FlipPhone
Replies: 18
Views: 1984

Re: FlipPhone

We still use Motorola W315 flip phones with PagePlus Cellular and are quite pleased with the pay as you go plans, and the underlying Verizon network.
by LeeInTN
Sat Dec 23, 2017 5:50 pm
Forum: Personal Consumer Issues
Topic: Appointment Calendars from the past
Replies: 28
Views: 2833

Re: Appointment Calendars from the past

I keep them in the same file folder as the old tax returns, and have them more than 35 years back. As elrobin mentioned above, we keep them for deceased parents too.
by LeeInTN
Thu Nov 02, 2017 4:51 pm
Forum: US Chapters
Topic: Nashville / Mid-TN Chapter Master Thread
Replies: 47
Views: 15591

Re: Nashville / Mid-TN Chapter Master Thread

Still no taker?