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My grown adult kids (all approaching 50), have been learning of late what they can NOT count on as an emergency fund. That would be their Dad's money. I have flipped that on my children. I run very lean in my checking account, but at the same time I have credit union accounts that are linked to my daughters' credit union accounts that make it possible for instant transfers in both directions. They keep more cash than I do because they are still working, even though their jobs are very secure. Nice thing is my daughters have not approached me for money since they graduated from college. Though, I certainly would offer assistance if they need it. Any expense, large or small, expected or unexpected would be ultimately withdrawn from our retir...

These family & friends checks are specifically intended to benefit your child, I presume? If I were gifting that money, I wouldn’t be happy if the funds went into an account without the child’s name on it. But I understand your wife’s concern. What if you opened two separate UGMA/UTMA, put her name as trustee on one and yours on the other, and split the proceeds between them? Alternatively, money from her family/friends goes into her trustee account and the same for yours? Alternatively, money from her family/friends goes into her trustee account and the same for yours? I would stay away from two accounts unless the funds are split evenly. Future question by child: Mom, why did your side of the family give so little (so much) money to ...

These family & friends checks are specifically intended to benefit your child, I presume? If I were gifting that money, I wouldn’t be happy if the funds went into an account without the child’s name on it. But I understand your wife’s concern. What if you opened two separate UGMA/UTMA, put her name as trustee on one and yours on the other, and split the proceeds between them? Alternatively, money from her family/friends goes into her trustee account and the same for yours? Alternatively, money from her family/friends goes into her trustee account and the same for yours? I would stay away from two accounts unless the funds are split evenly. Future question by child: Mom, why did your side of the family give so little (so much) money to ...

Our taxes are very simple.

MFJ
2-1099Rs
Standard deductions
2-SSA1099s
1-1099DIV

Broken Man 1999

A question: I believe I have read Tesla has built many charging stations, and is still building. What number of individual chargers are usually found in a Tesla charging station?

Broken Man 1999

The $6,000 figure is what you allowed to contribute to a IRA each year, though if you are age 50 the contribution limit is $7,000.

Your activities aren't governed by the limits, unless you are adding $$$ to your IRA, which it seems you are not.

So balance away!

Broken Man 1999

I manage a few accounts for DDs, BIL, and DW, but only thru limited agent status.

Two reasons:
1. Clear audit trail should something ever go amiss, I only sign on with my Vanguard password, never the passwords of the people I am helping.

2. Though it might be very unlikely that Vanguard would not make an account whole if fraud involved, their security review could take longer if I were to use the individuals passwords. IMHO, using their passwords is sloppy administration, especially when doing things properly is a process that is very easy to do.

Not gonna do it, wouldn't be prudent.

Broken Man 1999

I would think the SNF would have someone on their staff that probably has seen every iteration of payments by the family members involved with the financials for the patients.

Perhaps you might give them a call to see you can meet with someone to help solve your timing issue(s).

Good luck!

Broken Man 1999

I keep little in my MMF, typically $3K-$4K, and it is in my MMF only for enough time to transfer to my checking account to pay bills. As soon as a sell is settled and eligible for withdrawal, the funds are on their way out.

Thing is, I just don't hold extra cash in my MMF (settlement fund) and I don't hold extra cash in my checking account except enough to pay bills for the first half of the month, then the balance is very low.

If I were one to hold cash, my settlement fund would be just fine.

Broken Man 1999

alex_686 wrote: ↑Sun Mar 12, 2023 5:43 pm <snip>They required banks to pre-pay the next 3 years worth of premiums immediately. Oddly, those payments were treated as a asset on the bank’s books, strengthening their position.

Makes sense, at least if I remember the corporate finance class 40+ years ago.

Handled like prepaid insurance, which it is, and is an asset once the premium is paid. The asset will diminish over the three-year period. AS the insurance is "consumed" it becomes an expense.

No, we would never skip out. But, I’m also not comfortable giving a credit card without seeing paperwork from their insurance policy, too. From what I understand their policy always covers glass. As a future guest, the table is likely less of a distraction than the terribly broken window shades, however it certainly is another blemish. “As a host, Vrbo will provide you with numerous mechanisms to protect your property from potential damages. Examples of covered damages include broken glass or appliances, damaged furniture, and any additional cleaning required due to things like pet dander, smoking, or undeclared pets or guests.” I’m okay with paying it if it is not collected in addition to their collecting from their insurance or if it wer...

My take is that the default choice is to give them a free ride (assuming the cost is not an issue for you). The benefits of being debt-free when finishing school are substantial and certain, whereas the benefit of being required to pay your way are debatably hypothetical at best. Like others said, you should know your children and whether imposing a debt burden will be helpful or just a burden. N = 1, but I take education far more seriously and studied much harder than most. I never paid a cent for it (current cost would be $400K). After around 18 years one would think parents would know their children well enough to judge their likely trajectory in college. Some calling for community college and state universities while living at home jus...

aqan wrote: ↑Fri Mar 10, 2023 6:37 pm

stan1 wrote: ↑Fri Mar 10, 2023 3:54 pm My guess is Mr. Thiel and his fellow VC billionaires will be saying something different by Monday as well.

We didn’t like the bank so we took our money out.

That's about it.
Somewhere I read that Thiel's startups were having hinky things happen with their banking activities at SVB. So the mothership (Peter Thiels Founders Fund) advised everyone to get out of SVB, which they pretty much did.

BHs can have similar issues if the durations of their fixed income assets are out step of their needs for those assets to be sold.

Broken Man 1999

homebuyer6426 wrote: ↑Fri Mar 10, 2023 2:49 pm

Marseille07 wrote: ↑Fri Mar 10, 2023 2:44 pm

homebuyer6426 wrote: ↑Fri Mar 10, 2023 2:41 pm How much space do your important items take up and what value do they have? Versus the money lost by selling and rebuying them.

I moved from coast-to-coast in a packed-to-the-brim Corolla. This does not work if you want to hold on to a lot of furniture.

I think we discussed before, but I wouldn't recommend this because you'd be one smash-and-grab away from completely losing your move. And you'd have 3~4 nights to dodge during a cross-country move.

Yes, always park close to your hotel window. That being said, they're going to have a challenge getting any of the wedged-in boxes out in a hurry

If I were a crook, I would probably steal the car and unpack later.

Broken Man 1999

mptfan wrote: ↑Thu Mar 09, 2023 12:54 pm

Tridentine wrote: ↑Wed Mar 08, 2023 7:32 am They haven't. They don't like to talk about it. Sensing regret.
I suppose I should leave well enough alone. I just love them and its sad to see.

Yes, you should leave well enough alone. It's their money to do with as they see fit.

I hope you don't come back in a couple of years to announce that your parents are now living with you because they got snookered by Tina and her husband. That would really be unfortunate.

Reading your saga makes me glad that there was openness between my father and his children. Same type transparency between DW and I and our children. Hopefully our DDs will keep the Tinas of the world away from us.

Broken Man 1999

Hello, I have a question regarding underlying rates of capital obsolescence and depreciation, what impact this might have on long-term equity rate of return assumptions, and whether any Bogleheads have thought about this and factored it into their retirement planning. Broadly, my retirement planning is based on two assumptions: (1) life-cycle consumption (I plan for a constant level of real consumption in retirement, equal to my current consumption); and (2) an amortization based approach to calculating annual real consumption in retirement, given my portfolio value, a real rate of return assumption, and an optimistic longevity assumption. With a given asset value, the amount of constant real consumption that can be sustained throughout re...

IIRC, VNTC doesn't manage real estate. So if any RE involved, one would need another entity to manage the holding(s).

Other than that I have read of any read flags, in fact I am looking at VNTC for my needs.

Broken Man 1999

I've been thinking about this thread today, and I have a suggestion: you might want to talk to a counselor of some kind. Not because I think you're nuts or anything, but to work through your money anxiety. I, too, grew up poor, and I realize now (age 59) that I will always have money anxiety. But--I don't want my money anxiety to affect my children. Growing up poor, I used to dream of life when I was NOT POOR. One thing I never thought about, though, was that I might be raising trust fund babies. Which, I am, even if they're not in the realm of Paris Hilton or the Kardashians or something like that. I had to come to grips with the fact that my children were NOT POOR. Like you, I wanted them to appreciate what they had, invest for the futur...

celia wrote: ↑Sun Mar 05, 2023 2:27 am Assuming you pay the balance off each month, just set up automatic payments to withdraw the amount owed every month. If you pay it off every month and don’t put a cash withdrawal on the card (a big NO-NO), you aren’t paying any interest anyways.

We have been doing this for all our cards for about 30 years. You will also never get a late fee since it is the credit card company responsibility to “pull” the money. Of course, it helps if you keep enough money in the checking account at all times. Then you never have to think of it.

I do just that myself. All my CCs are set to pull full balances each month from my checking account. No fuss, no muss. Lazy man's bill paying!

Broken Man 1999

Sounds like things worked out well for you!

Your handle of FriedOkra brings back fond memories of my mother cooking fried okra with stewed tomatoes!

Broken Man 1999

I hope the best funeral I will ever attend will be my own. MegaCorp gives retirees $10,000 of life insurance for free. I believe that amount minus the cost of direct cremation should fund a decent going away party for me.

Broken Man 1999

biscuit5 wrote: ↑Sun Mar 05, 2023 5:14 pm not sure if its just my area, but, they seem to be building self-storages all over the place here. Not sure why. Anyone having a similar experience?

Definitely the case around here, Tampa Bay area, east of bay. Makes sense, so many coming into Florida, plus so many houses and condos needing cleaned out to sell homes of departed seniors.

Broken Man 1999

At the risk of giving you a list of everything it possibly could be, we recently had this issue and assumed it was probably a pipe leak, shower pan, etc. Turns out it was the toilet. In case you don’t already know, toilets have a wax ring which seals to the floor when it is installed. Over time, these can and do fail due to just…well, time…or perhaps it didn’t have a perfect seal when it was installed. If that seal has failed, water can follow the drain line pipe, and where ultimately where you see the problem area on the ceiling may not be directly under the toilet. Around here the plumbers use a boot that extends down, virtually impossible to leak. I think it is code for upstairs bathrooms, but I could be wrong. When we did a remodel in ...

I have an update to my SS card replacement saga. Today I called the local SSA office and they have reopened. But despite the promotion of "Express" appointments for the specific purpose of obtaining a replacement card, my need for a replacement is insufficient to warrant being allowed inside. However, the office drop box has just reopened! And, the rep told me that I could use a "certified" medical record extract for my ID. Which apparently means any document identifying a medical office (like letterhead or heading), having my name and my d.o.b, and being signed (by pen in ink - not a preprinted signature) by any office employee. It does have to contain a one-line statement preceding the signature: " I certify that...

Obviously when I became disabled I could no longer do our lawn care, but I did enjoy trimming up our lawn nicely when I was able. Now outsourced for $130/month.

It was nice to see immediate results of something I had done, as at MegaCorp the results of my efforts often took months to show anything. And sometimes my efforts were all for naught if the customer didn't buy in. Not an uncommon outcome for a sales engineer.

Broken Man 1999

Depending on the length of time a pre-pay is present, I have read that some people have received their pre-pay refunded in the form of a check.

That situation would be a real pain if one was counting on the pre-pay being available.

Broken Man 1999

See if any of the tile grout in the shower is cracked or worn. Water gets splashed on the walls, goes in the cracks, and has nowhere to go but down. That happened to us. Regrouting fixed the leak. Two things: If your plumber wants to start cutting holes, ask them to use a camera to start with. The video will help without opening up such a larger hole so one can see with their eyes. Granted, it isn't always possible, but truthfully I would not hire a plumber if they show up without a camera, unless they are replacing a WH or repairing a leak already located. Certainly not one that is hired to find a leak like OP has described. And, the tile grout is almost always a good place to check. I know this twice already, just different bathrooms. :(...

I wish I would have had a Roth 401k available for the time I had earned income. I did make use of Spousal Roth IRAs when DW was working, but the limits were, and still are for that matter.

Oh well, such is life. My company offered a precursor to the 401K plan. You could even borrow from your plan, and deduct the interest from your taxes, for a short time.

Broken Man 1999

Emergency funds: $110k ($20k bank savings account, $80k short term treasuries, $10k Vanguard Federal Money Market Fund) Debt: Mortgage $450k 1.99% 15 year fixed ($370k equity in home) Tax Filing Status: Married Filing Jointly Tax Rate: 35% Federal, 6.85% State State of Residence: NY Age: Him 43, Her 41 Current Asset allocation: ~90% stocks (70% US, 30% international) / 10% bonds Approximate size of your total portfolio: ~$1.4M Current retirement assets Taxable $100K VTSAX $1.5k RIVN His solo 401k at Fidelity FSKAX $542K FTIHX: $267k FXNAX: $92k Company match: No His Roth IRA at Vanguard VGSLX: $37k Her Roth IRA at Vanguard VGSLX: $37k Her 403b at Vanguard VTSMX: $126k VTIAX: $62k VBTLX: $20k Company match: No Her Governmental 457 (NYS Defe...

Thank you tunafish and Chip Munk. You are both correct. I have a higher IRMAA and my Medicare fees (premiums) did go up and why my SS benefits went down this year. Thank you for the explanation. I might be wrong but it sounds as if your SS benefits actually went UP this year (meaning, your 1099 will reflect increased income?). However, your Medicare premiums went up even further. Therefore, you'll find that your deposit will be less than last year. This might be one of those situations where your income goes up, you might pay more tax, your Medicare premiums go up due to IRMAA, and your net income actually goes down. Also remember the 2023 IRMAA rate is based on your 2021 income, ie prior income two years ago, 2024 IRMAA rate based on 2022...

1963 AMC Rambler 330 purchased 1969 $400 purchased while in HS. 1968 Mercury Comet purchased 1972 for $900. All following purchased new, plus we then had need for two cars due to both working with opposite direction commutes. 1974 Ford Pinto $2650 1980 Pontiac Sunbird 1984 Pontiac Sunbird 1986 Pontiac Grand Prix 1988 Chevy Conversion Van 1992 Nissan Sentra 1997 Nissan Sentra (totaled in 1999) 1999 Ford E150 Wheelchair Van 2008 Ford E150 Wheelchair Van (bought new in 2009) currently has 117,000 miles on it. Replacement is anywhere from $55K used to $75K-$85K new. Not in any hurry to buy. DW has no desire to get anything else as she likes sitting elevated in the van. This van might outlive me. If it is still in good shape in a few years I mig...

When DW and I turned 62 in 2015, I took my pension as a lump sum and based on a long appointment with a very knowledgeable SS person DW was advised that it made sense for her to start at age 62. At age 65 my SSDI was replaced by regular SS retirement benefits, nothing changed except what fund the benefits came from. I have had various health issues along the way, and frankly I am a bit surprised (but certainly would be pleased) that if I live until July 2023 I will turn 70. So perhaps I made the wrong choice. Only around four months to see. My lump-sum retirement has grown like crazy, and I think a bird in hand is worth two in the bush. The extra SS dollars would simply added to our very padded retirement. Our decisions were certainly by ch...

It's funny how people define a million dollar here: 1. People who are working toward their first million - tries to make it 1 M by their tooth and nails 2. people who have 1-4 millions on assets say - you have to have at least 5 million to feel like millionaire due to inflation and PPP 3. people who have 5-10 millions on hand say - You have to have 5+ millions all the time during few stock market bull run and bear run 4. People who have 10+ millions on assets say - it doesn't count by the total assets but by your annual income. So assets doesn't matter but you have to have million plus income per year 5. People with 100+ million say: oh...you have to have 1 million plus income by dividend only, the income from your active work doesn't coun...

I include nothing but our investable assets. All I have to do is look at my totals of our retirement accounts at Vanguard, and accounts that I have elsewhere that are tracked by Vanguard. I don't include checking/savings accounts as those assets are held to pay bills, and the balances are only notable for a few days before bill paying quickly lowers them. I don't count the 529 plans, or I-bonds purchased for grandchildren, our vehicle, our home and furnishings, my coin collection. burritoLover wrote » Thu Mar 02, 2023 9:48 am 5 million is the new million. I could not agree more! I fully understand why Vanguard has cut benefits over the years for Flagship investors, considering the lowered ERs for their products. ERs on a $1,000,000 portfoli...

familydaddy wrote: ↑Thu Mar 02, 2023 12:18 am I took a family Disney cruise with my wife and children and it was one of the most magical experiences of my life. On my death bed, I believe I will close my eyes as I hold the hands of my children and wife as I think about some of the moments of the of cruise. So, ya...worth it!!!

+1!
A lot of our friends have taken Disney cruises, and all had very positive remarks and would not hesitate to take another one.

The cruises are expensive, but the price should not hold OP back.

Broken Man 1999

It depends. I would get one that had at least 2 wheels (not sure about 4). Some are lightweight (made of aluminum and can fold easily and be lifted easily), others are heavier gauge and don't fold as well and are somewhat heavy but also come with bicycle style breaks on the handles. This is a nice unit that is height adjustable, lightweight and can double up for other uses near the bed. In addition to a walker, perhaps a "reacher" could be useful. See this one on Amazon: https://www.amazon.com/gp/product/B00UZHYXHO/ I purchased that pair of reachers in March, 2018, they were $19.97 at the time. I'm still using the first one of the pair. After a bit of practice I became able to pick up a dime off the floor. Steady hand and good ey...

My strong preference is to give one of the grandchild’s parents control over the 529 plan. Money that you don’t have control over isn’t money that you can count on. There was a thread a few years ago on this forum about a grandfather who had assured his child that he had money set aside for multiple grandchidren’s educations. When the oldest grandchildren was in high school, the grandfather informed the parents that there was no college money (I can’t remember whether it was spent elsewhere or badly invested). And the parents hadn’t saved anything because of the grandfather’s prior assurances. I dare say there are plenty of parents who did the same thing, perhaps raiding a 529 plan they intended to add back funds withdrawn, but never got a...

I bank at the credit union I joined in August of 1973, 50 years this August. Over the 50 years the credit union has had several facelifts. Sadly I have not. I have a free checking account so long as I meet two very easy requirements, electronic statements and a $500 direct deposit each month. All money comes into this account, and leaves thru this account. I do have an unused savings account at this credit union. Over the years we have had mortgages, auto loans, HELOCs, credit cards. Almost always good rates. Today my only banking needs are a checking account and a safe deposit box. This credit union has the boxes, but none at any branch that is close. I also have a membership at my alma mater's credit union I keep because their deposit box...

A couple of weeks ago, my gum was bleeding. I usually use alcohol based mouthwash but not when I am bleeding. I went to the drug store and got https://www.amazon.com/Natural-Dentist-Antigingivitis-Mouthwash-Gingivitis/dp/B0011TWVWE/ref=asc_df_B0011TWVWE/?tag=hyprod-20&linkCode=df0&hvadid=312182339507&hvpos=&hvnetw=g&hvrand=18069033633040033347&hvpone=&hvptwo=&hvqmt=&hvdev=c&hvdvcmdl=&hvlocint=&hvlocphy=9016971&hvtargid=pla-406644741015&psc=1 I used it and warm salt water for one day and the bleeding stopped. So I am leaning towards keep using it as my regular mouthwash. But it is expensive and I could not find store brand with a similar formula. Anyone knows of one? Thanks. Typically ...

Maybe this works for you, but if it were me this would be a miserable time. Everyone needs to find a balance between gratification today and saving for the future, but money spent today on some things will be much more valuable than that money saved until you retire but can no longer do those things. Travel, hobbies, outdoor recreation, and gifts all seem to fall into this category to me. Same here! The list offered just eschews so many joyous things we do, individually, with each other, or as an extended family. I would rather spend on things/activities I enjoy, not stack up dollars. DW and I stacked up our dollars years ago, and we will continue to spend them doing things we enjoy, along with some things/activities that cost virtually no...

My father was very open about his finances with my siblings and me. I have followed his example with our daughters. One daughter has been asked to handle our finances as we age, and we have asked her sister to be our health care advocate. To me it would be unfortunate if neither of them were privy to our financial and physical health. I figure if we trust our daughters as our cognitive skills decline, surely we can trust them when we still have our wits about us. FWIW, I know their finances as well, as I have done the taxes for one, and I have helped both with investments at Vanguard. I have limited agent status for their Vanguard accounts. Our older two grandchildren (14 and 13) know of their Prepaid College plans, their 529 plans, and the...

Here's a contrived scenario: Son #1 is 52 and drives a 10 year old Toyota Corolla and camps in national parks while on vacation. Son #2 is 50 and leases a new Mercedes S-Class every year, plus has a boat, horse, RV and flies in business class around the world on vacations. They both make $500K per year and otherwise are in pretty similar circumstances in life however Son #1 has $5M and Son #2 has $500K because of the differences in spending. Son $1 is planning early retirement. Son #2 plans to work into his 70s. Would anyone leave a different amount to Son #1 than Son #2 (in this contrived and simple situation) simply because Son 1 would likely save the inheritance and Son 2 would likely spend it? Nope! Equal amounts. As well, I know which...

I have used Humana mail order pharmacy for years, no complaints. It is part of my retirement benefits along with Humana PPO.

Humana recently rebranded their pharmacy to CenterWell. I don't know if the Humana/CenterWell pharmacy is available as a stand-alone mail order service or not.

FWIW I also take a controlled substance, and it is available mail order, though scripts are only good for 30 day fills, other drugs are available for 90 day fills.

So far as Amazon, I thought I read that Medicare wasn't accepted.

Broken Man 1999

<snip> One adjustment to our equal gifting intent is that our sons have different numbers of children, yet we have gifted equal amounts to 529 accounts for each grandchild. We decided each grandchild is a separate individual, to be gifted equally in comparison to each other grandchild. I think the same way. Some people seem to give inheritances per branch, but I don't think that method is very fair. So we treat each member of a generation the same, daughters the same, grandchildren the same. I also want to give directly to the grandchildren (in trust) as a family makeup might not look the same and money that we might expect to flow thru a daughter to a grandchild might be routed elsewhere, and that isn't acceptable. Death/divorce/remarriag...

Daughters were treated the same as much as was possible. Each went to their desired university. The one that went to a private university was on a scholarship. Each graduated with no debt. We paid for weddings for each, and gave each $10,000 after they closed on their first home.

The intent is the same for any inheritance, equal sums to daughters, equal sums to grandchildren.

Broken Man 1999

Certain corporate bonds and corporate bond portfolios are now yielding more than 8%. If I was allocating a certain part of my portfolio to them, would it be sensible to replace the equity allocation as opposed to the government bond allocation, since they are considered high risk? Whilst I know corporate bonds have not been considered a great investment in the past, with a large portfolio (7-8 figures or more), it does seem like a strong diversifier. [Thread moved to the Investments - Theory, News & General subforum and title clarified by moderator Kendall.] Risk level of Corporate Bonds is in between stocks and Treasury Bonds. So it is all or nothing investment. I have 97% of my portfolio in corporate bonds and use the cash flow to bu...

DW and I are both 69, and retired.

Desired AA: 55% equities/45% bonds. Current AA: 58% equities/42% bonds.

No activities/changes in portfolio other than TIRA distributions for living expenses.

Broken Man 1999

One way to ensure fewer things that a neighbor can do to annoy you is to keep your neighbors as far away from you as you can. IOW, buy acreage. Or, buy in a neighborhood that is built out. If the neighbor is building a home that is zoned and permitted for their particular lot, you probably can't prevent it. And, IMHO you shouldn't be able to prevent it. They have as much of a right for their build as your builder had 37 years ago. If anything about the zoning is going to need to be changed, might have a shot. It would certainly strengthen your objection. For years I had a lot next to my home that I did some groundskeeping on. But, after about 25 years being in our home a home was finally built on it. The neighbors are great, much to our rel...

While I respect Mr Bogle's contributions, I do not believe his forecasts are any more accurate than anyone else putting a prediction down.

Broken Man 1999

At one time I would have trusted my father enough to do such an activity.

But the last couple of years of his life were not kind to him. He was physically there, mentally, not so much. Fortunately I had taken control of his trust before his very rapid decline. He planned his estate very well, and shared his plan with all of us.

OP, others have given you great advice. Just remember, the man your FIL is today might not be the same man as he ages.

Me, I would do a firm pass.

Broken Man 1999