Search found 271 matches

by muddlehead
Fri Nov 11, 2016 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Pay On Death and Beneficiary Questions
Replies: 11
Views: 2525

Re: Pay On Death and Beneficiary Questions

I would contact the bank by voice telephone or make a person to person visit if possible to double check filling out beneficiary forms on-line is 100% OK.
by muddlehead
Thu Oct 27, 2016 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Probate Frustrations: Father's Penny Stock
Replies: 14
Views: 2679

Re: Probate Frustrations: Father's Penny Stock

Interesting situation. Estate is worth $650k. The fact the penny stock was "supposedly worth" $1.7 mill at one point is meaningless. I doubt very, very much it could ever have been liquidated at anything near that amount. However, it is not difficult for a brokerage firm to look back 2 years and see...
by muddlehead
Sat Oct 22, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to co-own and co-occupy home with in laws
Replies: 34
Views: 4643

Re: How to co-own and co-occupy home with in laws

****Affordability is not an issue. Assuming they can pay for the entire remodel. What do you suggest the arrangement is? They pay for the remodel and what do they get in return?***** They get to live next to relatives who I presume they like. They have medical issues. They get to live next to relati...
by muddlehead
Sat Oct 22, 2016 12:07 pm
Forum: Investing - Theory, News & General
Topic: Complete this sentence
Replies: 17
Views: 2115

Re: Complete this sentence

are sleeping like a log.
by muddlehead
Sat Oct 22, 2016 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to co-own and co-occupy home with in laws
Replies: 34
Views: 4643

Re: How to co-own and co-occupy home with in laws

Can't believe the long answers. Overthinking. This one's a no brainer. If your in-laws can afford to pay for the remodel. Done. If not, you pay for it. If your in-laws can afford to pay rent. Done. If not, ... Am I missing something?
by muddlehead
Wed Oct 19, 2016 6:10 pm
Forum: Personal Consumer Issues
Topic: Interstate movers
Replies: 17
Views: 1866

Re: Inter state movers

Wow. Cool praise for Arpin. Usually no one has ever heard of them. My son owns a moving company in Marin/Sonoma Counties - Northern California. They are affiliated with Arpin.
by muddlehead
Sun Sep 18, 2016 10:12 pm
Forum: Personal Consumer Issues
Topic: Best Time to Trade Older Mini for New One
Replies: 1
Views: 429

Best Time to Trade Older Mini for New One

We have a 3 1/4 yr old Mini Clubman 3 door 30,000 miles. Trading it in for a new same model 4 door. Would like to do the deal any time before the new year. Any suggestions on best day/time to do this?
by muddlehead
Thu Aug 18, 2016 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: California AB 319 Revocable Transfer on Death Deed
Replies: 1
Views: 345

California AB 319 Revocable Transfer on Death Deed

Thanks to a fellow BH'er, just found out we Californians can put a TOD / POD to heirs on our house, just like our brokerage and bank accounts. No need for trust anymore. The law took effect Jan 1, 2016. Has anyone done this? Do I have to wait till mortgage paid off?
by muddlehead
Mon Aug 15, 2016 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Trust vs TOD on estate
Replies: 10
Views: 1707

Re: Revocable Trust vs TOD on estate

We have pod/tod for financial assets. Under all fed estate limits. 2 sons. 50-50 split. Easy peasy. Am I right in thinking I'll need a trust, because pod/tod won't work, to pass house to them? State of California.
by muddlehead
Tue Jul 26, 2016 6:42 pm
Forum: Personal Investments
Topic: Advice for 60+ year old
Replies: 12
Views: 2278

Re: Advice for 60+ year old

Lets say she nets 150k from home sale. She then will have 300k savings. 30k per year pension. 61 years old. Not a lot of wiggle room in this scenario. You don't say where/how she will be living. That could eat up a large chunk of the annual 30k. Hopefully housing is free, or, close to it.
by muddlehead
Thu Jul 07, 2016 7:00 pm
Forum: Personal Consumer Issues
Topic: One day in Seattle. Where to stay?
Replies: 19
Views: 2520

Re: One day in Seattle. Where to stay?

Our last trip to Seattle, we stayed at the Loyal Inn 8th Ave and Denny Way. Walking distance to everything in downtown area. Will stay there again next time in Seattle.
by muddlehead
Thu Jun 30, 2016 11:15 am
Forum: Investing - Theory, News & General
Topic: Is options trading ever a good idea for retirees?
Replies: 16
Views: 1953

Re: Is options trading ever a good idea for retirees?

Misconception clarification. No risk in selling covered calls on stocks you are going to hold anyway. Only a limitation on upside share price gain.
by muddlehead
Wed Jun 29, 2016 8:02 pm
Forum: Investing - Theory, News & General
Topic: Is options trading ever a good idea for retirees?
Replies: 16
Views: 1953

Re: Is options trading ever a good idea for retirees?

Well, let's start with this. The only way to generate income with options is to sell calls or puts - most likely in this case on individual stocks. (could generate income with credit spreads, but, that ain't happening in this retiree situation) Selling naked puts to acquire stocks at a lower price i...
by muddlehead
Sat Jun 04, 2016 6:28 pm
Forum: Personal Investments
Topic: need help with Mothers portfolio
Replies: 5
Views: 832

Re: need help with Mothers portfolio

If it was my 89 year old mom, I'd have it all (100%) in risk free, but ridiculously low paying - about 1% for a 3-2-1 yr ladder - in CD's at a brokerage firm. However, your mom might not go for that. And, it is her choice.
by muddlehead
Thu May 19, 2016 7:59 pm
Forum: Personal Consumer Issues
Topic: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans? (Update, Pg 3)
Replies: 123
Views: 18148

Re: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans?

To onion / OP. What you're doing is what you should be doing. Your Mom needs a home. Welcome her into yours. No other option. She brings income of $1500 per month so she shouldn't be a financial burden. If the house needs an addition because it's too small for another adult, take her $15k and have y...
by muddlehead
Mon May 09, 2016 9:39 am
Forum: Personal Consumer Issues
Topic: Buying a house for an adult child (child adult?)
Replies: 94
Views: 12231

Re: Buying a house for an adult child (child adult?)

I'd say go for it. Worst case. House needs to be sold because they can't afford rent, or property taxes, or home insurance, or upkeep etc ... Wasn't your 20% down payment anyway. You might lose a little money in the whole scenario. That's what parents are for. Good luck to your son and d-i-l.
by muddlehead
Sun May 08, 2016 12:18 pm
Forum: Personal Consumer Issues
Topic: Financial Movies and Shows
Replies: 80
Views: 8103

Re: Financial Movies and Shows

Quicksilver Kevin Bacon 1986 - options trader in SF becomes bike messenger. Filmed scenes where I worked for 7 years - Pacific Stock Exchange Options Floor in San Francisco. I could have been in the movie as an options trading extra. But, trading day ended at 1pm, didn't want to hang out or come bac...
by muddlehead
Thu Apr 28, 2016 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited property and family issues
Replies: 39
Views: 5158

Re: Inherited property and family issues

This one's easy. Mary has been living rent free since 2009 and not even paying the property tax. Your wife and B-I-L together tell Mary the house is being sold ASAP with proceeds divided by three. Mary will be forgiven for the years of not paying the property tax. If Mary doesn't like the idea, hire...
by muddlehead
Tue Apr 19, 2016 10:00 pm
Forum: Personal Investments
Topic: Edward Jones Exit Strategy
Replies: 15
Views: 3244

Re: Edward Jones Exit Strategy

Wow! Double wow! I count 23 Twenty three two three different funds in your accts. If this isn't exhibit A why no one who cares about his/her money should "" invest "" with Edward Jones. I don't know what is. I'm old. Not easily shocked. This is shocking.
by muddlehead
Thu Mar 17, 2016 11:08 am
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18234

Re: For Parents Who Have Given a Child Money For Home Down Payment

Re: estate/gifting limits ""State limits can be much lower. NJ, for example, has both inheritance and estate taxes, and it's complicated, but it gets pricey quickly."" Correct. I mistyped. And understated. Federal and California limits are the same. For couples it's nearly $11 million. For a single ...
by muddlehead
Mon Mar 14, 2016 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18234

Re: For Parents Who Have Given a Child Money For Home Down Payment

Thanks all for the interesting feedback and discussion. Re: gifting and taxes. The 14k per person per year etc should be well known by everyone reading this board. For those of us not in the 1%, the lifetime exclusion of over 5 mill is a non-issue to say the very, very least. Curiously, comes up as ...
by muddlehead
Sun Mar 13, 2016 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18234

Re: For Parents Who Have Given a Child Money For Home Down Payment

Thanks all. I messed you up by titling "lent" instead of giving/gift. Amended title. Was thinking more of red flags: divorce, name on title, etc...
by muddlehead
Sun Mar 13, 2016 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18234

For Parents Who Have Given a Child Money For Home Down Payment

It's for a home in Marin County, SF Bay Area. The numbers are not for the faint of heart. I will be writing a check for my son, daughter in law, and grandson in the amount of 200k for a million dollar home. Hard to imagine, I know. I think of it as a pre-death inheritance. Monthly payments, includin...
by muddlehead
Wed Feb 17, 2016 7:29 pm
Forum: Investing - Theory, News & General
Topic: Harry Markapolous warns of 3 new ponzi schemes maybe brokerage?
Replies: 17
Views: 2646

Re: Harry Markapolous warns of 3 new ponzi schemes maybe brokerage?

Amazing I hadn't heard about this prior to seeing it here today. Markopolis is without question a big enough name to warrant articles in main stream financial press publications - WSJ, NYT etc... - following up on his pronouncement. Something doesn't add up about this story.
by muddlehead
Tue Feb 16, 2016 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: End of Life Documents
Replies: 18
Views: 2720

Re: End of Life Documents

PH12 IMHO because you have scattered relatives and a boyfriend as heirs in varying proportions, I would spend the $1000 or so for a trust. Only thing you'll need to think about is who you want as executor.
by muddlehead
Thu Feb 04, 2016 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited a home, any tax benefits?
Replies: 30
Views: 2085

Re: Inherited a home, any tax benefits?

My first thought reading your scenario was just mentioned. Moving past the financials of the situation which are interesting indeed, what happens when your Stepmom meets a man who becomes her boyfriend and he and his children move into the home? Or, she has brothers or sisters or friends who want to...
by muddlehead
Mon Jan 04, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Costco AMEX Transition - Costco has no answers
Replies: 163
Views: 40309

Re: Costco AMEX Transition - Costco has no answers

Here's why I'm not concerned. My card says American Express on the front and Costco on the back. Our refunds / rebates are redeemable only at Costco store registers. They are Costco's responsibility to honor. No worries here they won't. PS Anyone know exactly how the financial arrangement between Co...
by muddlehead
Mon Dec 07, 2015 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Does my stepmom have to file a will?
Replies: 20
Views: 2422

Re: Does my stepmom have to file a will?

Well, if everything was jointly held, everything would go to her. I would succinctly ask her, in writing or verbally, if your Dad left you anything upon his death. Let's see what she says.
by muddlehead
Sun Nov 15, 2015 8:58 pm
Forum: Personal Investments
Topic: Leaving my financial advisor - almost retired
Replies: 10
Views: 2119

Re: Leaving my financial advisor - almost retired

virginiap - I'm guessing you have about 200k in investments - you said you are paying advisor 1% plus %1500 per year - exclusive of the annuity. Dump the advisor yesterday. All of us on this board can help you learn to manage your money. It's fun. It's easy. Pick a discount broker that is physically...
by muddlehead
Mon Nov 09, 2015 8:29 pm
Forum: Personal Consumer Issues
Topic: Best albums of 2015
Replies: 124
Views: 33349

Re: Best albums of 2015

The War on Drugs Lost in the Dream (2014 not 2015 but close enough for music recommendations)
by muddlehead
Mon Nov 02, 2015 6:51 pm
Forum: Personal Investments
Topic: ESOP Paid Out - Now what?
Replies: 6
Views: 1078

Re: ESOP Paid Out - Now what?

Had my ESOP years ago transferred into an IRA account. All withdrawals for me are taxable. I was obviously OK with that. Many other employees paid the capital gains tax up front and transferred their ESOP dollars into taxable accounts. Answer to your question. Tax treatment / laws change often on ES...
by muddlehead
Wed Oct 21, 2015 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: My mom is 80 year old and she has never taken out the RMD, please help!
Replies: 61
Views: 10905

Re: My mom is 80 year old and she has never taken out the RMD, please help!

"" **I'd just start taking the RMDs this year and not bring undue attention to the situation by telling the IRS about it."" ** Agree 100%. The government wants the tax revenue from what will come out of your Mom's IRA. Nothing more. Nothing less. If, for example, your Mom took out the entire amount ...
by muddlehead
Sat Oct 10, 2015 12:30 pm
Forum: Personal Consumer Issues
Topic: Where in the U.S. can I buy a house for under $250k that's a nice place to live?
Replies: 152
Views: 20566

Re: Where in the U.S. can I buy a house for under $250k that's a nice place to live?

Wife and I just back from a visit to her best friend in Olympia, Wa. NIce house on a nice street, homeowner valued at low 300's. Seemed like a cute little town on the water with reasonable prices.
by muddlehead
Tue Sep 15, 2015 8:06 pm
Forum: Personal Investments
Topic: Potential Flaw in Index funds??
Replies: 30
Views: 5247

Re: Potential Flaw in Index funds??

Wow. Umm. There is no flaw with low cost index funds. There is, however, a flaw with the person telling you this with a straight face. The way to counter his argument is to never talk to him/her about investing ever again.
by muddlehead
Thu Aug 27, 2015 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

Huh?
How does zero income pertain to a poverty level chart?
by muddlehead
Thu Aug 27, 2015 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

Lets forget this FPL 100% whatever cr*p. Irrelevant to what your asking. Unnecessarily confuses the issue. Can you make zero income and not be in the Medicaid subsidy arena? Don't know. May I ask why medicaid is something to avoid?
by muddlehead
Thu Aug 27, 2015 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

To the OP. We got a little sidetracked yesterday... Your initial question about zero income is a good one. I don't know the answer. Maybe someone does.
by muddlehead
Wed Aug 26, 2015 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

PJW et al. Interesting discussion. I think there's some confusion with less rather than more income. For example, my wife and I could make no more than lets say $20,300 to qualify for our huge subsidy and our monthly premiums would be $60. Again, our 2014 income was $9093. The link you gave talked a...
by muddlehead
Wed Aug 26, 2015 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

Just 100% lazy. Too many ridiculous numbers IMHO. The whole poverty level multiplied by xxx whatever. Income $9093. Check. Premiums paid monthly. Check. Everyone move along. This year, though, I will be careful to to take IRA distributions to get just over the poverty level figure...
by muddlehead
Wed Aug 26, 2015 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Any minimum income for Obamacare subsidies?
Replies: 30
Views: 3602

Re: Any minimum income for Obamacare subsidies?

Timely topic. We also have a silver plan paying $60 per month premiums. I'm back and forth with the IRS right now. Joint return. Our income in 2014 was $ 9093 from CD interest in taxable acct. Took zero distributions from IRA accounts. So, that was our total income. Did not file taxes for first time...
by muddlehead
Mon Aug 17, 2015 10:07 am
Forum: Personal Investments
Topic: Dealing with Inheritance - seeking help
Replies: 10
Views: 2473

Re: Dealing with Inheritance - seeking help

I would liquidate everything your mother owned in all accounts. Move all the cash out of Morgan Stanley. The last thing I would want is a Morgan Stanley commissioned broker handling my accounts. Once all the moneys are at Vanguard, in 2 accounts, one taxable, and one for the inherited IRA, begin the...
by muddlehead
Sat Aug 15, 2015 7:11 pm
Forum: Personal Investments
Topic: Retiring Couple with some money to invest
Replies: 11
Views: 2125

Re: Retiring Couple with some money to invest

You will make $3900 p/m or $46,800 p/y. You have a $200k mortgage. You have 110k in a taxable account. You have 39k in retirement accounts. And you will make 60k the next two years. Could be just me, but I don't think you have enough money to do what you want. Add the 110 to the 39 and the, let's sa...
by muddlehead
Sun Aug 02, 2015 12:59 pm
Forum: Personal Consumer Issues
Topic: Tipping House Painters
Replies: 8
Views: 2771

Tipping House Painters

Exterior house painters did a great job. The total s/b ~ $4400. What would you tip?
by muddlehead
Fri Jul 31, 2015 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance - Buy House then Reverse Mortgage?
Replies: 13
Views: 2378

Re: Inheritance - Buy House then Reverse Mortgage?

Interesting scenario. My 1c. If she could buy for 100k, rents have to be very cheap. $1000 per month tops. Maybe $750 even. 200k is not enough IMHO to do what she wants. Put the money in laddered cd's in the inherited IRA account. Take out about 10k per year or, as much as needed for rent and essent...
by muddlehead
Wed Jul 01, 2015 4:52 pm
Forum: Personal Investments
Topic: Help! Elderly father got snookered.
Replies: 36
Views: 8074

Re: Help! Elderly father got snookered.

Tis a fact: The absolute without a doubt worst place to go for advice on how to invest your money is usually the first place anyone would think of - his/her bank.
by muddlehead
Sun Jun 28, 2015 6:20 pm
Forum: Personal Investments
Topic: 10 year Broker CDs vs 10 year Treasury
Replies: 27
Views: 4817

Re: 10 year Broker CDs vs 10 year Treasury

*** "Is there any reason I would not want this over a 10 year Treasury if I was going to make my purchase July 1?" *** Full disclosure. I am perhaps the biggest fan of FDIC insured brokerage firms CD's on this board. The answer to your question is no. Only make sure you are within FDIC insurance lim...
by muddlehead
Mon Jun 08, 2015 4:05 pm
Forum: Personal Consumer Issues
Topic: Elder care home in a residential neighborhood
Replies: 10
Views: 1725

Elder care home in a residential neighborhood

Well, the county zoning board last Thursday voted 5-0 against our neighborhood and in favor of an elder care home provider. Here are the details. !20 homes mostly around a golf club/course. 1/2 acre lots. Single family. Single story. 2000 square feet or so on avg. Northern California. Neighborhood s...
by muddlehead
Mon May 11, 2015 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: New Math for Retirees and the 4% Withdrawal Rule
Replies: 96
Views: 21738

Re: New Math for Retirees and the 4% Withdrawal Rule

Echoing nsiprius' thoughts here. Read the NYT article last Saturday. I was dumfounded afterwards because I have always assumed 4% meant forever until death. Inventor / creator / father of the number meant it to only last 30 years?? WTF. As nsiorius mentioned, 3.33% per year cash under the floorboard...
by muddlehead
Sun May 03, 2015 11:18 am
Forum: Personal Consumer Issues
Topic: Things to do in Maui
Replies: 20
Views: 5524

Re: Things to do in Maui

Don't drive the Kahekili Hwy between Kapalua and Waihee. Looks innocent enough on maps. But, oh my. Everyone knows road to Hana fairly tricky. Kahekili Hwy 100x worse.
by muddlehead
Sun Feb 22, 2015 10:27 pm
Forum: Personal Consumer Issues
Topic: Music / Song Help
Replies: 52
Views: 4359

Re: Music / Song Help

** The OP has to tell us what songs made the Final Cut. Please. ** #4 is https://www.youtube.com/watch?v=gCPZ-V0i0pU. Lou Reed walk on the Wild Side Live 17 minutes. 56 minutes total now. Everything else suggested, including my own suggestion John Prine's Lake Louise, are too musical, not enough spo...