Search found 23 matches

by fortunefavored
Wed Sep 27, 2017 7:01 pm
Forum: Investing - Help with Personal Investments
Topic: ICMA retirement transfer to Vanguard [457 plan administrator]
Replies: 8
Views: 753

Re: ICMA retirement transfer to Vanguard [457 plan administrator]

I did a rollover from them earlier this year - the steps were 1) open vanguard account 2) request "rollover package" from ICMA-RC, fill out Vanguard details and send it in to ICMA-RC. Money showed up in a couple of days in Vanguard. And yes, they are extremely expensive and it is embarrassing that g...
by fortunefavored
Tue Sep 26, 2017 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 14750

Re: Bay Area Real Estate

Mercurynews article on "Making sense of Silicon Valley's crazy housing" contains this terrifying statement: "A growing number of people employed in the Bay Area have RSU plans; lending officers say an increasing majority (of buyers) are qualifying by including these plans as income. The borrower qua...
by fortunefavored
Wed Aug 09, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 18353

Re: Life at crossroads. What would you do ?

For those not in the technology bubble world, I thought I'd add a perspective there: The last few years has seen a dramatic shift from business, outcome oriented work to valuing mechanics above all. Being able to solve coding exercises, even for non-engineering related positions has become a default...
by fortunefavored
Fri May 05, 2017 2:28 pm
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 20822

Re: Why save so much for when you're old?

I rarely post other than to ask questions, but this person's thread could literally be posted by 24 year old me. I think 24-year-old-me was pretty smart, but foolish. Once you make "more than just making your rent" money, those dollars can be used on various things: savings, fancy cars, vacations, e...
by fortunefavored
Fri Apr 28, 2017 1:01 pm
Forum: Investing - Help with Personal Investments
Topic: Leverage an extra paid-off house?
Replies: 7
Views: 709

Re: Leverage an extra paid-off house?

Just to clarify, there is no life estate ("legal obligation") - this was spelled out as intent, and it is up to me to interpret the intent. Life estate, etc., was explicitly excluded in the will, they are also unrelated to me, and there are no rent control or other related regulations. I could legal...
by fortunefavored
Fri Apr 28, 2017 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: Leverage an extra paid-off house?
Replies: 7
Views: 709

Leverage an extra paid-off house?

In the midst of evaluating my asset allocations, rebalancing, etc. A few years ago I inherited a paid-off home on the condition I let the tenant stay in it rent-free until they either move out or pass away (not quite free, but close enough: $500/month - covers property taxes and insurance) The prope...
by fortunefavored
Wed Apr 12, 2017 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall for someone on Medicaid
Replies: 12
Views: 1973

Re: Windfall for someone on Medicaid

Personally, I'd be totally fine with just handing the check over to medicaid, but my understanding is not how that works.. all existing care would lose coverage, including things keeping them alive, for some indeterminate period of time (months) until medicaid paperwork sorts itself out - usually re...
by fortunefavored
Wed Apr 12, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall for someone on Medicaid
Replies: 12
Views: 1973

Re: Windfall for someone on Medicaid

Thanks everyone for the comments and ideas - I have reached out to a medi-cal (medicaid in CA) attorney who did some previous work.

It sounds like basically "spend it appropriately and quickly" is the best scenario, but I will report back with what we end up doing.
by fortunefavored
Tue Apr 11, 2017 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall for someone on Medicaid
Replies: 12
Views: 1973

Re: Windfall for someone on Medicaid

Yes, this is a legitimate inheritance - unfortunately they have already "accepted" it, so I don't know if it is possible to reverse. I've asked them to send me copies of all paperwork.
by fortunefavored
Tue Apr 11, 2017 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Windfall for someone on Medicaid
Replies: 12
Views: 1973

Windfall for someone on Medicaid

Relative with severe health issues, spent down all assets.. now notified of a small (~$20K) overseas inheritance. Resides in California. Already signed the letter "accepting" it, but has not provided any further transaction details. Anything that can be done, or is it just gone? I'm not in...
by fortunefavored
Mon Feb 20, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Family member renting 2nd house. Ok to ignore on tax return?
Replies: 203
Views: 41925

Re: Family member renting 2nd house. Ok to ignore on tax return?

Similar situation and have no great arguments, other than to say what I do: I declare the rental income, and write off expenses up to that income (no depreciation or carryover.)
by fortunefavored
Tue Sep 22, 2015 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: TLH vanguard pair for VEMAX (Emerging Markets Admiral)
Replies: 2
Views: 350

Re: TLH vanguard pair for VEMAX (Emerging Markets Admiral)

hm, seems reasonable if I flip it back in 30+ days.

Thanks!
by fortunefavored
Tue Sep 22, 2015 10:48 am
Forum: Investing - Help with Personal Investments
Topic: TLH vanguard pair for VEMAX (Emerging Markets Admiral)
Replies: 2
Views: 350

TLH vanguard pair for VEMAX (Emerging Markets Admiral)

..because of course I lump summed in at the top..

I did spend 30 minutes searching and reading other threads, but apparently I am not smart enough to find the "ideal" Vanguard combination..

Suggestion?
by fortunefavored
Sat Aug 08, 2015 5:39 pm
Forum: Investing - Help with Personal Investments
Topic: tax harvesting small cap in taxable
Replies: 4
Views: 397

Re: tax harvesting small cap in taxable

To be explicit:

VSMAX - Small-Cap Index Admiral Shares
to
VTMSX - Tax-Managed Small-Cap Admiral Shares

Anyone else have an opinion?
by fortunefavored
Sat Aug 08, 2015 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: tax harvesting small cap in taxable
Replies: 4
Views: 397

tax harvesting small cap in taxable

I started up a new taxable account and initially plonked a chunk in smallcap, without considering the tax consequences. I would like to move it to the small cap tax managed fund. It is only down a few K, but now that I am bumping into top tax brackets, I'll take what I can gets. I assume going direc...
by fortunefavored
Sun Jul 19, 2015 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

Re: What can you deduct for undermarket rental?

oof, I did not think of a possible gift consequence, I hope that is not the case. Note: This is not a life estate situation, and was explicitly excluded in the will. It is up to me to interpret the intent of the will (and yes, it was discussed in advance) - basically the intent was, "let this p...
by fortunefavored
Sun Jul 19, 2015 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

Re: What can you deduct for undermarket rental?

Talking to "several accountants" sure is worrying sounding, but if there's an opportunity to minimize the impact, that would be good. The place is 60 years old and will likely require some reasonably expensive maintenance over the next 10 years (the likely time period I will need to deal w...
by fortunefavored
Sun Jul 19, 2015 9:47 am
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

Re: What can you deduct for undermarket rental?

Thank you Jared - I suppose that would match the original advice I received (verbally, with no references - hence posting here.) It certainly makes the accounting easier if the answer is "basically nothing." - if anyone knows of any existing threads where this was elaborated on, please poi...
by fortunefavored
Sun Jul 19, 2015 8:51 am
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

Re: What can you deduct for undermarket rental?

Oops, sorry for the confusion. I am charging $500/month. Market would be $3000+/month.
by fortunefavored
Sun Jul 19, 2015 8:27 am
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

Re: What can you deduct for undermarket rental?

Thanks everyone, I think the links have it covered. Publication 527 is what I needed I think - m "If you do not rent your property to make a profit, you can deduct your rental expenses only up to the amount of your rental income. You cannot deduct a loss or carry forward to the next year any re...
by fortunefavored
Sat Jul 18, 2015 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: What can you deduct for undermarket rental?
Replies: 23
Views: 2130

What can you deduct for undermarket rental?

I keep meaning to ask this some where.. I'm inherited some property that I'm letting the current residents (non family) stay in for significantly under market (say $500 on $3000 market rent.) I know that disqualifies me for some deductions like depreciation.. but can I write off everything else up t...
by fortunefavored
Wed Jun 03, 2015 9:25 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable holdings crowding out sheltered
Replies: 5
Views: 1094

Re: Taxable holdings crowding out sheltered

Thanks for the reply. As I add more bond to my tax sheltered holdings, I'll be having more and more equity holdings in my taxable, so I must decide now on what is the most tax efficient to hold there vs. perceived benefit of tilting. So in the end I'll be holding $2M of equity at a very high tax rat...
by fortunefavored
Tue Jun 02, 2015 9:48 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable holdings crowding out sheltered
Replies: 5
Views: 1094

Taxable holdings crowding out sheltered

I had written up a huge post, but it seemed like a bit too much information. I'll try to briefer: index investor for 13 years. But more importantly have dramatically increased my income the last 5, while only moderately expanding my lifestyle. The upshot is I'm adding 30K/year to 401k/ira, and am no...