Search found 5270 matches

by FIREchief
Mon Aug 31, 2020 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for reducing estate issues?
Replies: 22
Views: 1507

Re: Suggestions for reducing estate issues?

alpenglow wrote: Mon Aug 31, 2020 1:09 pm The will has the house to be split 50/50 as well.
Does this mean that the house is to be sold and the proceeds split 50/50? Or, does it mean that the house will be owned by you and your sister 50/50? The second one would scare the heck out of me..... :twisted:
by FIREchief
Mon Aug 31, 2020 4:59 pm
Forum: Personal Investments
Topic: Estate Tax Rate
Replies: 22
Views: 1471

Re: Estate Tax Rate

Traditional and Roth accounts are included in a decedent’s estate for estate tax purposes. Converting to Roth only impacts the income tax consequences of distributions taken by the decedent’s beneficiaries. Converting to Roth consumes money, thus reducing the size of the estate. I refer to this as ...
by FIREchief
Mon Aug 31, 2020 4:58 pm
Forum: Personal Investments
Topic: Estate Tax Rate
Replies: 22
Views: 1471

Re: Estate Tax Rate

Can also consider making gifts above the annual exclusion and paying the gift tax. If you really are at the margin you could get a lttle bit more out of the estate. You do not pay gift tax for being above the annual exclusion. Taxes don’t begin until after the lifetime exclusion. Unless you elect t...
by FIREchief
Mon Aug 31, 2020 1:18 pm
Forum: Personal Investments
Topic: Estate Tax Rate
Replies: 22
Views: 1471

Re: Estate Tax Rate

oktax wrote: Mon Aug 31, 2020 1:05 pm Traditional and Roth accounts are included in a decedent’s estate for estate tax purposes. Converting to Roth only impacts the income tax consequences of distributions taken by the decedent’s beneficiaries.
Converting to Roth consumes money, thus reducing the size of the estate.
by FIREchief
Sun Aug 30, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: What do Americans really do about cable and homeowners insurance?
Replies: 51
Views: 4511

Re: What do Americans really do about cable and homeowners insurance?

1. I call them every year. I'm no idiot! Actually, it's 1b, I on-line chat them every other year. It takes about 10 minutes. I send them a message : FIREchief: "I see my cable went up, we need to apply a promotion to bring it back down." Cable company: "blah, blah, blah, we'll have to check to see ...
by FIREchief
Sun Aug 30, 2020 12:51 am
Forum: Personal Finance (Not Investing)
Topic: IRS processing of 2019 paper returns
Replies: 10
Views: 766

Re: IRS processing of 2019 paper returns

For returns filed in Massachusetts, there is one address for returns enclosing payment, a different address for forms NOT enclosing payment. Of those not enclosing payment, it's a good bet that a refund is due unless it's a zero return for some reason. Likely true for other states too. Maybe not fo...
by FIREchief
Sat Aug 29, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: IRS processing of 2019 paper returns
Replies: 10
Views: 766

Re: IRS processing of 2019 paper returns

Not sure what you're asking. I don't know what expectations the IRS has set about their rate of processing paper returns. Not sure why you aren't sure what I'm asking. Has anybody who sent a paper return (without refund due) had their return processed by the IRS? If so, when did you mail you return...
by FIREchief
Sat Aug 29, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: IRS processing of 2019 paper returns
Replies: 10
Views: 766

IRS processing of 2019 paper returns

I mailed my 2019 1040 to the IRS via certified mail on 3/11/20. The envelope was delivered to the IRS on 3/14/20. I paid the balance due electronically through the IRS website on 3/23/20. The IRS account shows the payment received, along with my estimated payments for 2019. Like many are reporting h...
by FIREchief
Sat Aug 29, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Receipt
Replies: 20
Views: 1413

Re: HSA Receipt

I keep any form of receipt that I have, preferably something that is itemized. I have the original HSA statement from when I opened the first HSA which establishes an open date. And I have an excel sheet listing each expense, date, who it was for, the provider name, etc. Do you include mileage on y...
by FIREchief
Sat Aug 29, 2020 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Receipt
Replies: 20
Views: 1413

Re: HSA Receipt

When I received a CP2000 Notice on large HSA distributions*, I only provided a subset of 1 and 2 and received notice it was closed. However, I was prepared with the required proofs, which might likely be required in an in-person audit. Would you mind sharing with us how large the distribution was t...
by FIREchief
Sat Aug 29, 2020 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Receipt
Replies: 20
Views: 1413

Re: HSA Receipt

When I received a CP2000 Notice on large HSA distributions*, I only provided a subset of 1 and 2 and received notice it was closed. However, I was prepared with the required proofs, which might likely be required in an in-person audit. Would you mind sharing with us how large the distribution was t...
by FIREchief
Sat Aug 29, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Receipt
Replies: 20
Views: 1413

Re: HSA Receipt

In addition to proof of payment, you should have evidence that it was a qualified medical expense. While most prescription and qualified product/supply receipts that identify prescription/product/supply would suffice, other proofs of payment (cancelled check, bank/credit card statements, bare credi...
by FIREchief
Sat Aug 29, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Receipt
Replies: 20
Views: 1413

Re: HSA Receipt

When I received a CP2000 Notice on large HSA distributions*, I only provided a subset of 1 and 2 and received notice it was closed. However, I was prepared with the required proofs, which might likely be required in an in-person audit. Would you mind sharing with us how large the distribution was t...
by FIREchief
Thu Aug 27, 2020 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Issue/Dispute
Replies: 17
Views: 2604

Re: Rental Issue/Dispute

Sounds like good old fashioned rusting iron pipes. Does the water clear up after running it for a minute or two?
by FIREchief
Thu Aug 27, 2020 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Employer Offered Pre-65 Retiree Medical Plan – Worth it?
Replies: 22
Views: 1581

Re: Employer Offered Pre-65 Retiree Medical Plan – Worth it?

yummeemunnkee wrote: Tue Aug 25, 2020 1:26 pm I’m being laid off from my employer and will receive a severance packing including the option to continue medical benefits as a retiree.
Is your employer Megacorp, small company, government or non-profit?
by FIREchief
Thu Aug 27, 2020 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Employer Offered Pre-65 Retiree Medical Plan – Worth it?
Replies: 22
Views: 1581

Re: Employer Offered Pre-65 Retiree Medical Plan – Worth it?

I cannot get back into the system. Long time lurker, registered just to respond to this. (I'm always appalled by how "helpful" systems are set up to eject whomever it can...permanently) I am familiar with such a system. The folks I worked with wisely recommended keeping a foot in the door of the re...
by FIREchief
Thu Aug 27, 2020 2:00 pm
Forum: Investing - Theory, News & General
Topic: Fed wants inflation
Replies: 30
Views: 3003

Re: Fed wants inflation

rich126 wrote: Thu Aug 27, 2020 1:08 pm And of course the government doesn't want high inflation since that would make the debt payments too high thus wanting a 2-4% inflation range.
I thought it was the exact opposite. :confused
by FIREchief
Thu Aug 27, 2020 11:38 am
Forum: Investing - Theory, News & General
Topic: Vanguard 500 fund price is $321.84 - could there be a "split"?
Replies: 56
Views: 3692

Re: Vanguard 500 fund price is $321.84 - could there be a "split"?

Which is worth more, 1 share of $100 or 10 shares of $10? Definitely 10 shares at $10. Same reason I have the pizza place cut my pizza into 12 slices instead of 8. 50% more slices for the same price! 8-) mmmm.... pizza. :beer LOL --- I'm the guy that calculate square inches of pizza and what they'r...
by FIREchief
Thu Aug 27, 2020 11:29 am
Forum: Investing - Theory, News & General
Topic: Vanguard 500 fund price is $321.84 - could there be a "split"?
Replies: 56
Views: 3692

Re: Vanguard 500 fund price is $321.84 - could there be a "split"?

Helo80 wrote: Thu Aug 27, 2020 8:41 am Which is worth more, 1 share of $100 or 10 shares of $10?
Definitely 10 shares at $10. Same reason I have the pizza place cut my pizza into 12 slices instead of 8. 50% more slices for the same price! 8-)

mmmm.... pizza. :beer
by FIREchief
Thu Aug 27, 2020 11:20 am
Forum: Investing - Theory, News & General
Topic: Fed wants inflation
Replies: 30
Views: 3003

Re: Fed wants inflation

Should one be buying TIPS? They seem expensive now. TIPS are no more "expensive" than nominal US treasuries right now. If you want 100% safety, you pay a (small) price. I'm already at 100% TIPS for my fixed income, so nothing for me to consider. I have no idea if inflation will increase or not. Tha...
by FIREchief
Wed Aug 26, 2020 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Maintenance and Repair of HVAC, Water Heaters, etc
Replies: 28
Views: 2482

Re: Maintenance and Repair of HVAC, Water Heaters, etc

Anyone has experience with a good home warranty company? Few years back they were asking for 400 a year and 60 per call. So if you had one hvac call and one plumbing issue, you covered the cost I've read horror stories. Sure, for $60 somebody will come out. They'll do something and proclaim "fixed!...
by FIREchief
Wed Aug 26, 2020 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping assets separate in marriage
Replies: 40
Views: 3197

Re: Keeping assets separate in marriage

Planner01 wrote: Wed Aug 26, 2020 7:37 pm Ignore the prenup as she’s not sure if it was filed.
What is this "filed" that you speak of? Filed with who?
by FIREchief
Wed Aug 26, 2020 5:43 pm
Forum: Investing - Theory, News & General
Topic: Why does Vanguard hide its phone number?
Replies: 52
Views: 4736

Re: Why does Vanguard hide its phone number?

I remember when knowledgeable humans answered the GE Answer Center phone number, and would walk you through repairs. All I remember is calling the GE answer center, being insulted by stupid suggestions like "make sure it's plugged in," "have you tried turning it on," etc., followed by a pitch to se...
by FIREchief
Wed Aug 26, 2020 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Maintenance and Repair of HVAC, Water Heaters, etc
Replies: 28
Views: 2482

Re: Maintenance and Repair of HVAC, Water Heaters, etc

While I have always been pretty diligent about all forms of preventive maintenance, for some reason I generally neglected my HVAC system (other than quarterly filter changes). I know that the outside condenser coils should be rinsed off several times a year, I just never focused on it. The brand nam...
by FIREchief
Wed Aug 26, 2020 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: HSA long term strategy
Replies: 9
Views: 1353

Re: HSA long term strategy

I meticulously track my HSA eligible expenses for reimbursement sometime in the future when I no longer need the HSA to grow. Since an HSA only goes to a spouse tax free, presuming no spouse at death, is there any advantage to continuing to add to an HSA once you get to a projected value of about $...
by FIREchief
Wed Aug 26, 2020 1:55 pm
Forum: Investing - Theory, News & General
Topic: "Why Young Investors Shouldn't Dabble in Stocks"
Replies: 43
Views: 4350

Re: "Why Young Investors Shouldn't Dabble in Stocks"

That's kind of confusing. The title suggested (at least to me) that young investors shouldn't own stocks. Apparently that's not what "shouldn't dabble" means. Dabble means to take a stab at it, try it on for size, play around for a bit. One should not do that with stocks. Why not just say "young pe...
by FIREchief
Tue Aug 25, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting of donation of ESPP shares
Replies: 11
Views: 601

Re: Tax reporting of donation of ESPP shares

I have highly appreciated ESPP shares obtained many years ago. If I donate some of them to charitable organizations, how should I report the discounts (15% off the offering price) on the purchase price when filing income tax return? I understand the discount will be added as an ordinary income. Wil...
by FIREchief
Tue Aug 25, 2020 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting of donation of ESPP shares
Replies: 11
Views: 601

Re: Tax reporting of donation of ESPP shares

I have highly appreciated ESPP shares obtained many years ago. If I donate some of them to charitable organizations, how should I report the discounts (15% off the offering price) on the purchase price when filing income tax return? I understand the discount will be added as an ordinary income. Wil...
by FIREchief
Tue Aug 25, 2020 4:15 pm
Forum: Investing - Theory, News & General
Topic: "Why Young Investors Shouldn't Dabble in Stocks"
Replies: 43
Views: 4350

Re: "Why Young Investors Shouldn't Dabble in Stocks"

Teaching a 25yo about index investing is like roping the wind. Well then; I guess it's a good thing I taught my kids about index investing when they were sixteen! :twisted: (but seriously, don't you think this is unfair to the vast majority of 25 year olds who are intelligent and interested in lear...
by FIREchief
Tue Aug 25, 2020 4:10 pm
Forum: Investing - Theory, News & General
Topic: Why does Vanguard hide its phone number?
Replies: 52
Views: 4736

Re: Why does Vanguard hide its phone number?

I think Vanguard found out that most customers get their questions answered at Bogleheads.org which is open 365/24/7, so they shut down their phone service. I always got more useful answers on Bogleheads than by calling VG customer service. I once had to explain to a VG rep that we could in fact do...
by FIREchief
Tue Aug 25, 2020 1:18 pm
Forum: Investing - Theory, News & General
Topic: Submitting an ETF sell order at Fidelity outside of market hours
Replies: 16
Views: 885

Re: Submitting an ETF sell order at Fidelity outside of market hours

Scenario: a person wishes to sell some ETF shares (VTI) at Fidelity, but is unable to access a computer during market hours due to work. It looks like they can submit a "standard hours" order after market close that will execute during the next trading day. Considering the high liquidity of VTI, is...
by FIREchief
Tue Aug 25, 2020 12:58 pm
Forum: Investing - Theory, News & General
Topic: "Why Young Investors Shouldn't Dabble in Stocks"
Replies: 43
Views: 4350

Re: "Why Young Investors Shouldn't Dabble in Stocks"

That's kind of confusing. The title suggested (at least to me) that young investors shouldn't own stocks. Apparently that's not what "shouldn't dabble" means.
by FIREchief
Tue Aug 25, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question
Replies: 9
Views: 926

Re: Inheritance question

Savingsgal wrote: Tue Aug 25, 2020 12:49 pm What's the rate on your mortgage?

-3.25
There's probably a strong case to be made to pay off your mortgage. You would essentially be earning 3.25% guaranteed interest, which is much(!) better than you can earn in any safe fixed income investments right now.
by FIREchief
Tue Aug 25, 2020 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question
Replies: 9
Views: 926

Re: Inheritance question

Recently came into an inheritance of about $200k. $120k cash and $80k in an inherited IRA. HHI 200k We are trying to decide on how to manage the inheritance. Age 41/50 and have a 9 and 6 year old. $480k combine in retirement ( currently maxing our 401k/Roth) $400k house with $250k left on mortgage ...
by FIREchief
Tue Aug 25, 2020 11:35 am
Forum: Investing - Theory, News & General
Topic: Changing how the Fed views inflation
Replies: 32
Views: 2224

Re: Changing how the Fed views inflation

I invested in TIPS because I'm afraid of a change in Fed target. "Inflation Is the Way to Pay Off Coronavirus Debt": Hiring the fox to guard the henhouse :twisted: TIPs investors are setting themselves up for disappointment, the open question is by how much. Disappointment ? That depends on what TI...
by FIREchief
Tue Aug 25, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Pursue Inheritance Asset or Let it Go?
Replies: 14
Views: 2141

Re: Pursue Inheritance Asset or Let it Go?

Regarding the paintings, my first thoughts are: 1) Are they actually owned by the trust? I don't know how "ownership" is established for items that don't have a formal title. If not owned by the trust, you may need to open probate to handle them. I believe that typically at the time a living trust ...
by FIREchief
Mon Aug 24, 2020 5:16 pm
Forum: Investing - Theory, News & General
Topic: Changing how the Fed views inflation
Replies: 32
Views: 2224

Re: Changing how the Fed views inflation

Yikes!!! I guess I had better move ALL of my fixed income to TIPS!

Wait a tick.....I already did! 8-)
by FIREchief
Mon Aug 24, 2020 11:57 am
Forum: Investing - Theory, News & General
Topic: Market will be at all time high by year-end
Replies: 155
Views: 16347

Re: Market will be at all time high by year-end

I can officially resurrect this thread based on the US stock market futures. My prediction was correct. :beer Congrats! :beer What is your AUM fee? :twisted: LOL. Buy and hold, stay the course isn't really management; so how could there be a management fee? Pay InvestorNewb to do nothing? :P Yeah, ...
by FIREchief
Mon Aug 24, 2020 11:19 am
Forum: Investing - Theory, News & General
Topic: Market will be at all time high by year-end
Replies: 155
Views: 16347

Re: Market will be at all time high by year-end

What a bunch of freakin' nit-pickers! :P This is a really cool thread. I totally missed this until today. InvestorNewb may not be the smartest guy/girl in the room, but he/she is definitely smarter than most of us (in a certain type of "smart"). While I've never had a problem staying the course, it ...
by FIREchief
Mon Aug 24, 2020 11:11 am
Forum: Personal Investments
Topic: Fidelity HSA Investments
Replies: 12
Views: 928

Re: Fidelity HSA Investments

Our HSAs are currently a combination of individually held TIPS and US TMI (total market index) funds. I'll likely migrate them to all US TMI as we liquidate some after-tax equity holdings. The HSA TIPS were originally an extension of my TIPS centric LMP. It all depends upon how you envision using yo...
by FIREchief
Mon Aug 24, 2020 10:29 am
Forum: Personal Finance (Not Investing)
Topic: At what point do you start hiring advisors?
Replies: 28
Views: 2882

Re: At what point do you start hiring advisors?

I would hire an advisor only if I aged to the point where my cognitive abilities were shrinking and I didn't have a responsible, adult family member who I could trust to assist. It would likely be Vanguard PAS at .3% AUM (assets under management). Regarding Roth conversions. I've never heard of an A...
by FIREchief
Sun Aug 23, 2020 5:44 pm
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13266

Re: When should one share financials with their children?

Thanks for the great post! :beer Today my spouse, me, and our daughter are all co-trustees of our revocable living trust. (The trust only holds our home and our rental property.) Our daughter has a DPOA on all of our investment accounts, and they’re also all TOD/POD. Finally she’s a joint owner on o...
by FIREchief
Sun Aug 23, 2020 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16767

Re: Do you talk to your friends/family/coworkers about this stuff?

About as far as I will go is to suggest to somebody paying an AUM FA 1.0% - 1.5% that they might want to check out VG PAS at .3%. If they wander down that path, I might then suggest to them that after a year or so they might decide to just do it themselves. You have to walk before you can run..... 8-)
by FIREchief
Sun Aug 23, 2020 2:40 pm
Forum: Investing - Theory, News & General
Topic: Current state of TIPS market
Replies: 41
Views: 2877

Re: Current state of TIPS market

I am "supposed to" per my plan add to my TIPS ladder in January and February to buy the 10-year 2031 and the 30-year 2051. But I may hold off if real yields are still negative. There is no rush, as I can buy these on the secondary market or secondary auctions later. Of course, real yields could go ...
by FIREchief
Sun Aug 23, 2020 2:36 pm
Forum: Investing - Theory, News & General
Topic: Current state of TIPS market
Replies: 41
Views: 2877

Re: Current state of TIPS market

I view my TIPS as insurance, not as investment. I have been a homeowner paying for insurance against fire and other disasters for almost 40 years and very grateful that "fires and other disasters" have been "underperforming" for me. I have seen fires overperform for close relatives and neighbors. Y...
by FIREchief
Sun Aug 23, 2020 2:33 pm
Forum: Investing - Theory, News & General
Topic: Current state of TIPS market
Replies: 41
Views: 2877

Re: Current state of TIPS market

TIPS don't do anything particularly well except get sold off in liquidity crises, and there is no futures market for me to lever them efficiently like nominals. They are a scam for the risk averse saver class who has been crushed vs. their risk heavy peers. Well this is interesting. I know that the...
by FIREchief
Sun Aug 23, 2020 1:10 pm
Forum: Investing - Theory, News & General
Topic: Are these forecasts based on valuations reliable at all?
Replies: 29
Views: 1659

Re: Are these forecasts based on valuations reliable at all?

asif408 wrote: Sun Aug 23, 2020 6:33 am But it sure beats just investing blindly without regard to the price you pay.
Actually, investing blindly without regard to price has been a very successful long term strategy for many of us here on the forum. 8-)
by FIREchief
Sun Aug 23, 2020 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Did any inheritance make positive effect on your life?
Replies: 229
Views: 19191

Re: Did any inheritance make positive effect on your life?

Since they turned 18 we have offered each of them a yearly "match" to whatever they put in their registered/tax advantaged accounts. (We have also paid full freight for their college expenses). This family match program has been invaluable. It gave the kids a chance to learn about investing, grow t...
by FIREchief
Sun Aug 23, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: change my beneficiary to Trust ???
Replies: 2
Views: 359

Re: change my beneficiary to Trust ???

With the retirement accounts you need to be very careful since if it is not done just right the money may need to come out of the IRA and be taxed and distributed to the trust. The problem is that a trust is not an individual so it may not be allowed to keep the money in the IRA. I know of a situat...
by FIREchief
Sun Aug 23, 2020 12:10 pm
Forum: Investing - Theory, News & General
Topic: When should one share financials with their children?
Replies: 205
Views: 13266

Re: When should one share financials with their children?

Supposedly people are good parents with good kids, but not good enough to trust their kids to put their own financial self-interest aside 🤣 This is confusing. Are you suggesting that parents who don't share account balances somehow don't trust their kids? Or, that these parents are placing their ow...