Search found 6068 matches

by delamer
Mon Mar 14, 2016 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: How to prioritize financial goals?
Replies: 17
Views: 2360

Re: How to prioritize financial goals?

As far as the emergency fund is concerned, do you see a scenario in which you would have no income to pay the mortgage for a couple of months? It is unlikely that you or your wife would lose your jobs, correct? The more probable, but still highly unlikely scenario, is that one of you or your child w...
by delamer
Sun Mar 13, 2016 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 16424

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

KlangFool - If you expect no money from your parents and want them to spend their money on the themselves, that is perfectly clear and understandable. So is the fact that you would refuse money if offered. But what does that have to do with another poster wishing for more clarity from a parent who h...
by delamer
Sun Mar 13, 2016 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 16424

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

Some posters are misinterpreting betterfinances comments. He said that he found it frustrating that his mother was making promises about giving funds in the future but not providing information on amounts and when the funds would be forthcoming or how they were invested. This made it impossible to i...
by delamer
Sun Mar 13, 2016 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: advice for retirees in 80's
Replies: 6
Views: 1313

Re: advice for retirees in

Your first concern is very legitimate. Even if you could get your father to diversify, the capital gains taxes would be significant. I had a similar issue with my father. His stock investments were in a handful of single stocks in the same industry (although he and my mother had significant cash ass...
by delamer
Sun Mar 13, 2016 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage pay off
Replies: 6
Views: 1329

Re: Mortgage pay off

What about a middle ground where you make some extra payments with the goal of paying off the house by the time you are 75 and divert some to more travel and fun?
by delamer
Sun Mar 13, 2016 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 16424

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

I just want to say that this concept (benefit the grandchild rather than the child) can be very annoying to the child. My mother once mentioned that she had a large amount of savings set aside for her grandchildren (my children) college education. I thought, that's nice Mom, but saving for college ...
by delamer
Sun Mar 13, 2016 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: How to convince high NW father to dump his financial advisor?
Replies: 69
Views: 8966

Re: How to convince high NW father to dump his financial advisor?

When you inherit it, you can change it. You can't convince the inconvincible. I have a brilliant FIL Emeritus Professor of Chemical Engineering at top university that is stubborn too. He has amassed a lot of money with frugality and a disjointed and inefficient investing style. He cuts coupons and ...
by delamer
Sun Mar 13, 2016 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 16424

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

I would find it very painful if there was a divorce, and my former DIL ended up with 100k of my assets. But given that there is a grandchild involved, I'd try very hard to think of it benefiting the child rather than the parent. However, that is only a calculation that you can make. You have to give...
by delamer
Sun Mar 13, 2016 3:09 pm
Forum: Investing - Help with Personal Investments
Topic: When to simplify due to cognitive decline?
Replies: 39
Views: 5405

Re: When to simplify due to cognitive decline?

Completely agree with bsteiner's points and AllieTB1323's response. A trusted manager with a reasonable fee can be a good set-up if you don't interfere. But this is similar to having a POA - a POA will allow trusted others to act on your behalf, but it won't stop you from acting to your own detrimen...
by delamer
Sat Mar 12, 2016 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance diverted to me in order to support mother
Replies: 25
Views: 3848

Re: Inheritance diverted to me in order to support mother

While a lawyer might charge several thousand dollars to set up a trust, s/he would certainly charge a lot less for an hour meeting to outline your options which would help determine if the trust is necessary.
by delamer
Sat Mar 12, 2016 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: How to prioritize financial goals?
Replies: 17
Views: 2360

Re: How to prioritize financial goals?

I suggest laying out, either here for further comment or just for yourself, your actual monthly payments for student loans, mortgage, taxes, daycare, etc.. It will be much easier to see what excess you have each month, and the best way to deploy it. (Are you salaried so your income is consistent fro...
by delamer
Fri Mar 11, 2016 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance diverted to me in order to support mother
Replies: 25
Views: 3848

Re: Inheritance diverted to me in order to support mother

Not all states with inheritance taxes exempt small amounts.

I would see an attorney about setting up some kind of trust. Also, it may be better for you to pay some of your mother's bills directly (from the inheritance) rather than giving her money each month.
by delamer
Thu Mar 10, 2016 1:17 pm
Forum: Personal Consumer Issues
Topic: Talk to parent's doctor?
Replies: 9
Views: 1214

Re: Talk to parent's doctor?

Yes, the doctor will talk to you with your father's permission. You should consider getting a medical power-of-attorney so you can get information about all of his medical care and make decisions if he becomes incapacitated. Regarding the insurance, do you mean will it reimburse the doctor for your ...
by delamer
Wed Mar 09, 2016 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Mom needs long term care - assets into trust?
Replies: 22
Views: 3423

Re: Mom needs long term care - assets into trust?

Artsdoctor is correct that you have to have certain limitations to qualify for Medicaid. For instance, someone with severe Alzheimer's who can't feed, dress, or toilet herself might meet those qualifications. And even if she doesn't need skilled nursing, it may be that Medicaid would help with the c...
by delamer
Wed Mar 09, 2016 8:33 pm
Forum: Investing - Help with Personal Investments
Topic: Investment advice for a Retiree
Replies: 14
Views: 2097

Re: Investment advice for a Retiree

I am sorry about your diagnosis. I think moving your assets over time, rather than in a lump sum, may help ameliorate some of your concern about the buy high/sell low issue. But they are paper losses right now; you will have time to make them up. Also, think about whether it is a priority to leave a...
by delamer
Wed Mar 09, 2016 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Mom needs long term care - assets into trust?
Replies: 22
Views: 3423

Re: Mom needs long term care - assets into trust?

It is not as if people are being scammed out of their savings under the Medicaid rules. They are being asked to provide for their own care, to the best of their ability, before the taxpayers have to take on that burden. That's fair.
by delamer
Wed Mar 09, 2016 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Spouse inheritance
Replies: 6
Views: 1484

Re: Spouse inheritance

If the inheritance is in your wife's name only, then it is her call as to whether the money goes into your joint account or she holds it separately in an individual account. For example, she may want the assets from her inheritance to be distributed differently upon her death than your joint assets ...
by delamer
Wed Mar 09, 2016 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing real estate agent for selling house
Replies: 6
Views: 884

Re: Choosing real estate agent for selling house

Keep in mind, though, that the older agent's reaction may have been because your house is a tough sell (as you noted yourself). So it may have been a dose of realism, rather than an actual lack of enthusiasm.
by delamer
Wed Mar 09, 2016 5:27 pm
Forum: Investing - Help with Personal Investments
Topic: Investment advice for a Retiree
Replies: 14
Views: 2097

Re: Investment advice for a Retiree

"I also plan to move this when it gets back to where it was at last spring." I am not sure what you mean by this. Do you mean moving the company stock and cash into a stock fund? If so, you don't want to wait to buy the stock fund when prices go up to what they were earlier. That's "buying high." Yo...
by delamer
Wed Mar 09, 2016 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Mom needs long term care - assets into trust?
Replies: 22
Views: 3423

Re: Mom needs long term care - assets into trust?

I am sorry about your mom. Is she in some kind of facility now? If so, there is probably a social worker on staff who can provide you with information about financial options, and maybe refer you to an attorney who specializes in elder care issues. Her assets and income will be taken into account by...
by delamer
Tue Mar 08, 2016 6:33 pm
Forum: Investing - Help with Personal Investments
Topic: Buying a house with cash
Replies: 46
Views: 6505

Re: Buying a house with cash

The only caution is that you don't want to be house-rich and cash-poor. So I would not pay all cash if that would leave you with limited liquid assets. Life is too uncertain to have all of your assets tied up in something illiquid. You could pay all cash and then take out a HELOC to deal with the li...
by delamer
Tue Mar 08, 2016 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab online bank - reviews?
Replies: 19
Views: 5486

Re: Charles Schwab online bank - reviews?

I don't have any knowledge of Schwab, but we do our banking online through USAA and have been very happy with their service. USAA also has debit cards for ATMs. I never inquired about disabling the POS option. It does not appear that their bill paying is outsourced; as far as I can tell, it is done ...
by delamer
Sun Mar 06, 2016 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Managing mom's finances
Replies: 15
Views: 2051

Re: Managing mom's finances

This is a subject close to my heart since my husband and I just spent the day cleaning out my mother's apartment because she is now living in a long-term care facility. A few points, some of which are repetitious of those already made: 1. Arrange a meeting with the attorney who drew up your mother's...
by delamer
Sun Mar 06, 2016 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Roommate issue
Replies: 18
Views: 3233

Re: Roommate issue

Has your son talked to his roommates about why they want him to leave now? Given that he will be gone in less than 5 months, maybe they can agree to some agreement to make the arrangement tolerable for everyone over that period). For instance, if they are early risers and he is up late and plays lou...
by delamer
Sun Mar 06, 2016 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

Thanks for your responses, Lexi and bsteiner. My mother has severe Alzheimer's and recently had a stroke so there is no possibility of her agreeing to changes in the trust as a competent person. I explored with the original trust attorney the idea of revising the trust early last year, but the pros ...
by delamer
Sat Mar 05, 2016 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for brother who makes really poor decisions
Replies: 4
Views: 1199

Re: Advice for brother who makes really poor decisions

Question 2 first: There is Social Security disability for those who can't work due to their disabilities. However, I think you have to have a minimum number of SS credits to be eligible. There are attorneys who specialize in filing claims (on contingency); it might be worth a consult. Question 1: To...
by delamer
Sat Mar 05, 2016 11:09 pm
Forum: Personal Consumer Issues
Topic: Where can I take a weekend trip around Wilmington, NC?
Replies: 5
Views: 783

Re: Where can I take a weekend trip around Wilmington, NC?

I second staying in Wilmington. There also is a nice small museum in downtown that covers both the natural and human history of the area. The aforementioned Wrightsville Beach is only a 20 minute drive. If you want to go off the grid a bit, Bald Head Island is within driving distance (about an hour)...
by delamer
Sat Mar 05, 2016 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

Yes, the information at that link that Toons posted seemed very complete.

I thought the section on Digital Death was interesting, although my mother never even used a computer.
by delamer
Sat Mar 05, 2016 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

My intention isn't to try to speed up the distribution. I agree that it needs to be done in a manner that allows for due consideration of all tax consequences.

What I am trying to do is get an idea of how the process will unfold, including an estimate of how long it will take.
by delamer
Sat Mar 05, 2016 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

There are a couple earlier posts that I missed. Carefreeap, I am sorry about your mother. Mine is in the opposite situation - her doctor thinks she is likely to live only another week or so at most. But she has defied expectations before. Her blood pressure is lower (more optimal) than mine. Anythin...
by delamer
Sat Mar 05, 2016 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do most of you plan to retire "full-time"?
Replies: 126
Views: 14227

Re: Do most of you plan to retire "full-time"?

I was never self-employed and my skill set does not lend itself to consulting -- although I did work part-time for quite a few years. So when I had had enough of dancing to someone else's tune after 37 years, I retired. Some people jump right into a set of hobbies/volunteer work/etc.; I am not one o...
by delamer
Sat Mar 05, 2016 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

Gill wrote: As I mentioned above, there is normally a fee for handling the death related additional duties, but no charge for selling or distributing securities.
Gill
Thanks, Gill. Knowing that gives me the kind of information I need once the process starts so I can ask intelligent questions.
by delamer
Sat Mar 05, 2016 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

Obviously, I will need to ask the bank about its fees for selling or transferring any securities held in the trust.

The "first world problem," as my son would say, is that my capital gains tax rate is not very low and neither are the gains on the assets in the bypass trust.
by delamer
Sat Mar 05, 2016 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

What are the terms of the trusts? What do they say about how assets will be handled after you mother's passing? Are the trusts dissolved? The trust document just says "Trustee shall pay the then remaining trust estate to (ME)" once my mother is gone. Which I assume means the trust is dissolved. The...
by delamer
Sat Mar 05, 2016 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

Carefreeap - Based on what I can find online, there is no exemption for any portion of the estate from the inheritance tax. It even includes personal property, like furniture and jewerly. Going forward, I don't want to hold individual stocks for a variety of reasons. I actually think this is probabl...
by delamer
Sat Mar 05, 2016 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Re: Distribution of estate assets

While it may be easiest to let the current trustee/bank trust department sell the securities you want to sell, it will definitely not be the cheapest way. You should be able to do an in-kind transfer to your own discount broker (I used Vanguard Brokerage Services), and then sell the securities your...
by delamer
Sat Mar 05, 2016 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Fallout from parents' divorce
Replies: 61
Views: 4979

Re: Fallout from parents' divorce

If your father doesn't want to involve an attorney, then he is stuck between a rock and a hard place. Your mother isn't going to voluntarily take him off the mortgage; it is clear that she has no incentive or intention to do so.
by delamer
Sat Mar 05, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Fallout from parents' divorce
Replies: 61
Views: 4979

Re: Fallout from parents' divorce

My sympathies that you are caught in the middle if this. If you can say "This is between the two of you. I can't solve this." do it! If you want to weigh in, encourage your father to schedule an hour with an attorney to see what is legally feasible. I would be surprised if he can force your mother t...
by delamer
Sat Mar 05, 2016 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of estate assets
Replies: 40
Views: 2731

Distribution of estate assets

My mother has been cared for in a nursing home for the last couple of months, and was placed in hospice earlier this week. I would like to get some idea of what to expect when settling her estate, including a time frame. I live a few hours away from her (and my hometown) in a different state. My mot...
by delamer
Sat Mar 05, 2016 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of health and cost of living (retirement)
Replies: 19
Views: 2498

Re: Cost of health and cost of living (retirement)

Worth a look: https://www.fidelity.com/about-fidelity ... ement-rise

The numbers are less cringe-worthy when you could consider them spread over a 20-year (or more) retirement. But they don't include nursing home or long-term care.
by delamer
Sat Mar 05, 2016 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: Worried about father....
Replies: 35
Views: 3766

Re: Worried about father....

When you say that desired "total" spending is 85K, does that include income taxes? If not, then he needs to take that into account. Obviously, taxes can vary widely depending on whether the accounts are tax-deferred, whether it is his cash being spent down or he is selling mutual fund shares, etc. B...
by delamer
Mon Feb 29, 2016 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: How to Develop a From-the-Ground-Up retirement budget
Replies: 6
Views: 924

Re: How to Develop a From-the-Ground-Up retirement budget

I'd give serious thought to what kind of housing you will want in retirement. You mentioned that you sold your house. Are you living in an apartment now? If so, would you be happy with a condo or do you eventually want to go back to not sharing walls with anyone? How about a townhouse in retirement?...
by delamer
Sun Feb 21, 2016 10:51 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalance and revised income strategy
Replies: 8
Views: 895

Re: Rebalance and revised income strateg

Thanks. I imagine that CFP assumed that your mother would not want to reinvest the dividends because she would need that income to pay her expenses. But that should have been explicitly discussed not just assumed. As far as the rebalancing, there are different strategies. If the plan was to only rev...
by delamer
Sun Feb 21, 2016 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Job Offer, Required to accept health benefit
Replies: 24
Views: 3211

Re: Job Offer, Required to accept health benefit

She will have to provide the information on both policies when asked to by health care providers, but the two insurance companies will have to sort out who pays what. I have heard of companies that will require employees to be insured through them. But some give you a small bonus if you decline thei...
by delamer
Sun Feb 21, 2016 8:20 pm
Forum: Investing - Help with Personal Investments
Topic: My dad wants to roll over his 401k to Vanguard
Replies: 30
Views: 4838

Re: My dad wants to roll over his 401k to Vanguard

I am not sure what you mean by prices, but there will be no charge to withdraw money by either Vanguard or Boeing. However, your father will have to pay ordinary income taxes (not capital gains taxes) on withdrawals. Not when he transfers the money from Boeing to Vanguard though. Given the value of ...
by delamer
Sun Feb 21, 2016 6:54 pm
Forum: Investing - Help with Personal Investments
Topic: My dad wants to roll over his 401k to Vanguard
Replies: 30
Views: 4838

Re: My dad wants to roll over his 401k to Vanguar

It probably would be useful for both you and your dad to read this part of the wiki to help you make an informed decision: https://www.bogleheads.org/wiki/How_to_ ... _portfolio

It is easy to find the expense ratio for each Vanguard fund on its website.
by delamer
Sun Feb 21, 2016 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Please Help me Bogle-ize This Portfolio
Replies: 8
Views: 884

Re: Please Help me Bogle-ize This Portfolio

I'd start with the Boglehead wiki on lazy portfolios: https://www.bogleheads.org/wiki/How_to_build_a_lazy_portfolio This link goes to a discussion geared to those with employer 401(k)'s but the analysis doesn't really change for a self-directed IRA like yours. It will give you a good background and ...
by delamer
Sun Feb 21, 2016 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Which one is better? Pension vs. 401k?
Replies: 14
Views: 2307

Re: Which one is better? Pension vs.

Lots of good ideas of things to consider have already been mentioned. Defined benefit pensions give people a sense of security in retirement that is hard to get with just a 401(k) plan. However, pensions also follow strict timelines, in terms if when you can draw them and how much you get at a parti...
by delamer
Sun Feb 21, 2016 5:38 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalance and revised income strategy
Replies: 8
Views: 895

Re: Rebalance and revised income strategy

I was a little confused about your original post. Is the $32,000 in income the dividends that you are not reinvesting? As others have said, you should be prepared to spend down principal. Another thing to consider is whether the pension you mentioned is inflation-adjusted. If not, then you will need...
by delamer
Sun Feb 21, 2016 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard estimating a pre-tax 8.1% pa return-overoptimistic???
Replies: 20
Views: 2235

Re: Vanguard estimating a pre-tax 8.1% pa return-overoptimistic???

I have always done estimates based on real returns, as others have mentioned. An 8% return doesn't mean much without the context of inflation. You'd be doing well if inflation is 2%, but not so great if it is 10%. I also find that thinking in real terms helps me visualize how much a future amount is...