Search found 6353 matches

by delamer
Tue Jun 28, 2016 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Loans to Friends
Replies: 73
Views: 5033

Re: Loans to Friends

I gave money to a young couple who were related to me when I learned from a cousin that a fire destroyed their home and that they had young children. Everything was lost in the fire. I didn't know them personally, but I knew their parents and grandparents quite well. The couple had asked for the ho...
by delamer
Mon Jun 27, 2016 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage immediately? Or keep plugging along?
Replies: 57
Views: 6425

Re: Pay off mortgage immediately? Or keep plugging along?

You didn't address how secure your income is, which is an important factor. If the only savings you have earmarked for college are the two 529 accounts (plus the annual savings into those), that is pretty low give n your kids' ages. Did you mean that you have 7 years until your oldest starts college...
by delamer
Mon Jun 27, 2016 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage immediately? Or keep plugging along?
Replies: 57
Views: 6425

Re: Pay off mortgage immediately? Or keep plugging along?

What is the interest rate on your mortgage?
by delamer
Mon Jun 27, 2016 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Will - Remarried with Troubled Kids
Replies: 37
Views: 5733

Re: Will - Remarried with Troubled Kids

FWIW: I presume your half of the estate and/or any money you had on your own would go to your daughter and you are asking about his share and his kids. I guess OP will clarify it, but I got the impression otherwise since she referred to her daughter being set because of the ex-husband's estate. Yea...
by delamer
Mon Jun 27, 2016 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: No-cost refinace to save 1/2 percent
Replies: 15
Views: 1628

Re: No-cost refinace to save 1/2 percent

Can you get the same no cost deal for a 15-year mortgage? Given the extent to which you are prepaying your mortgage now, you can clearly handle the higher payment and you should get an even lower interest on a new 15-year mortgage than a new 30-year.
by delamer
Mon Jun 27, 2016 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Loans to Friends
Replies: 73
Views: 5033

Re: Loans to Friends

It's hard to believe you are considering this for 1 second. :oops: I would just ignore the request and if he persists just say no. JW Ignoring the request is good advice. (Although I didn't get the impression that you were considering the loan, just that you wanted to turn him down tactfully.) If i...
by delamer
Sun Jun 26, 2016 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Efficient Investing
Replies: 4
Views: 886

Re: Maximize Your Taxes

Assuming you mean minimize taxes.

It depends, in large part, on what you expect your tax rate to be when you are withdrawing the funds.

Also, I think you want to change the subject of this thread.
by delamer
Sun Jun 26, 2016 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: W4 for teenager
Replies: 13
Views: 10751

Re: W4 for teenager

Teenagers with low income don't have to file a tax return, but that is not the same as can't. If she wants the federal taxes already withheld back, she will have to file a return.
by delamer
Sat Jun 25, 2016 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help my parents with LTC needs.
Replies: 26
Views: 2953

Re: Trying to help my parents with LTC needs.

You've hit on a key issue -- if someone defrauds your parents, it is all well and good to take legal action after the fact. But the odds of recovering any money are slim to none. A moral victory doesn't pay the nursing home bills. Based on my own experience and what I have heard from others, while i...
by delamer
Sat Jun 25, 2016 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help my parents with LTC needs.
Replies: 26
Views: 2953

Re: Trying to help my parents with LTC needs.

Another thing regarding a durable power of attorney (which is what you want) is that it doesn't prevent your parents from acting on their own behalf, it just allows another person to act for them also. So it doesn't take anything from them, but it would make it easier for you to help them if needed....
by delamer
Fri Jun 24, 2016 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help my parents with LTC needs.
Replies: 26
Views: 2953

Re: Trying to help my parents with LTC needs.

My mother lived in a CCRC in an independent apartment but needed temporary care in her apartment after a fall. The onsite social worker was able to provide me a list of home care agencies that other residents had used. I was very happy with the agency that I chose from that list. So if there is a lo...
by delamer
Fri Jun 24, 2016 11:18 am
Forum: Investing - Help with Personal Investments
Topic: Housing/mortgages the boglehead way
Replies: 20
Views: 2177

Re: Housing/mortgages the boglehead way

I don't think your wife is going to be swayed by an argument that buying the new house "isn't the boglehead way" even if that is true. A reasonable way to approach her, as someone else suggested, is "let's hold off making any decisions about moving until we've lived in this house with a child for a ...
by delamer
Fri Jun 24, 2016 11:04 am
Forum: Personal Consumer Issues
Topic: Having trouble selling house
Replies: 23
Views: 2458

Re: Having trouble selling house

"I'd think that if people wanted a lower price they'd be making lower offers. It is one of the nicest/largest and most expensive houses in the town. We're not even getting many showings. I feel like lowering the price wouldn't generate much more interest." It just doesn't work that way. Buyers are i...
by delamer
Fri Jun 24, 2016 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 85
Views: 12453

Re: Why should FEHB members buy Medicare Part B?

I have gone through the insurance brochures for Kaiser, Aetna Direct, GEHA, and BCBS. All are available in Georgia, where I live. There are some notable differences in coverage, but they all cover the basics. Aetna Direct is designed to work with Medicare, and is by far the clearest in terms of def...
by delamer
Thu Jun 23, 2016 5:25 pm
Forum: Investing - Help with Personal Investments
Topic: TSP to Vanguard?
Replies: 128
Views: 21329

Re: TSP to Vanguard?

Sorry if this was mentioned earlier, the TSP makes sure that you meet your RMD requirement. As in, they will send you a check if your monthly withdrawals, or lack thereof, don't meet your required RMD. See RMD section: https://www.tsp.gov/PlanParticipation/LoansAndWithdrawals/withdrawals/specialCons...
by delamer
Thu Jun 23, 2016 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: What retirement option to select under PERS (public employment retirement system)
Replies: 6
Views: 1958

Re: What retirement option to select under PERS (public employment retirement system)

I believe your Social Security could be affected if you get a survivor's benefit from your husband's government pension. You need to be really sure you understand that interaction. Will you and your husband be receiving health insurance in retirement through his job? In the federal civil service, in...
by delamer
Thu Jun 23, 2016 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering taxes at RMD time
Replies: 26
Views: 3993

Re: Lowering taxes at RMD time

I have 2.55 M total in both accounts. These are almost in exact equal amounts in each retirement and taxable account. A bigger issue than the taxes on the RMD's is that between your savings and the homes you are pretty well into the net worth that will trigger estate taxes some day. If your portfol...
by delamer
Thu Jun 23, 2016 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security/Taxes
Replies: 22
Views: 2652

Re: Social Security/Taxes

You can use TaxCaster to estimate your federal taxes, and then use that amount to figure out what percentage to use. You can have taxes withheld from your annuity too (or instead). I don't really understand your tax filing strategy, but obviously if you are are filing without your wife's income then...
by delamer
Thu Jun 23, 2016 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why should FEHB members buy Medicare Part B?
Replies: 85
Views: 12453

Re: Why should FEHB members buy Medicare Part B?

In researching the question posed in this thread I ran across the Congressional Research Service report discussing the FEHB: Federal Employees Health Benefits (FEHB) Program: An Overview https://www.fas.org/sgp/crs/misc/R43922.pdf It is recent (February, 2013), succinct, and authoritative. As menti...
by delamer
Thu Jun 23, 2016 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Would you consider assuming flat real returns to be prudent for those entering retirement now?
Replies: 6
Views: 583

Re: Would you consider assuming flat real returns to be prudent for those entering retirement now?

I do multiple scenarios showing zero real return, 1 percent real return, 2 percent real return, etc. to project out my retirement assets in a way that I can relate to more meaningfully. That is, a 6 percent nominal return has different implications if inflation is 2.5 percent compared to 8 percent, ...
by delamer
Thu Jun 23, 2016 11:55 am
Forum: Investing - Help with Personal Investments
Topic: Help me figure out whether my mother's FA knows what they're doing
Replies: 38
Views: 3790

Re: Help me figure out whether my mother's FA knows what they're doing

Presumably she picked this advisor the some reason. Was s/he recommended by a friend, her attorney, etc.? If so, could you contact the referrer and get more information? Does she have a strong preference to have someone local to deal with? Would she be comfortable with using a service like Vanguard'...
by delamer
Wed Jun 22, 2016 11:34 pm
Forum: Personal Consumer Issues
Topic: European Package Tours
Replies: 23
Views: 2389

Re: European Package Tours

If you travel on your own, have a plan for dealing with a health emergency. Speaking from experience, it is very difficult to deal with a health issue in a country where you don't speak the language.
by delamer
Wed Jun 22, 2016 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Buying or leasing new car
Replies: 2
Views: 555

Re: Buying or leasing new car

Leases frequently have a 10,000 mile annual limit and then you are charged an extra fee per mile. I understand that you can negotiate for more miles at a reduced rate at the beginning of the lease. But given your 16,000 miles, this is an issue for you. The most common answer you'll get on this forum...
by delamer
Wed Jun 22, 2016 5:41 pm
Forum: Personal Consumer Issues
Topic: European Package Tours
Replies: 23
Views: 2389

Re: European Package Tours

Do you want to explore one area in depth or visit multiple places for a short time?

If the latter a river or sea cruise is a good option. The best part is that you only have to do unpack and repack once!

But if you want to focus on one area, a cruise is not for you.
by delamer
Wed Jun 22, 2016 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I express my inheritence thoughts to my father?
Replies: 78
Views: 7945

Re: Should I express my inheritence thoughts to my father?

I think the implication in the opening post is that $X is enormously larger than $Y, meaning that any accumulated savings will become a rounding error. That's how I'm reading it, with some uncertainty. If so, what will likely happen is the OP will live happily with much-improved circumstances, and ...
by delamer
Wed Jun 22, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I express my inheritence thoughts to my father?
Replies: 78
Views: 7945

Re: Should I express my inheritence thoughts to my father?

I don't understand how your own savings would be negated by an inheritance from your father. Let's say your father's estate is divided into equal amounts of $X, based on what you said in your post. And let's say that you have saved $Y on your own at the time of your inheritance. So you have a total ...
by delamer
Wed Jun 22, 2016 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: helping my uncle
Replies: 14
Views: 2145

Re: helping my uncle

I would add that he should find out what his Social Security (and any pension) will be. He should also figure out how much his average annual expenses will be (including taxes and irregular expenses like a new car). Then subtract SS from expenses to get the annual income he needs to generate from hi...
by delamer
Wed Jun 22, 2016 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: Will there ever be a better time to sell off my international stake?
Replies: 35
Views: 4277

Re: Will there ever be a better time to sell off my international stake?

lgs88 wrote::shock:

So you'd rather lose money on your investment than pay tax on your gains?!
Listen to Igs88.
by delamer
Wed Jun 22, 2016 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Advice sought: close friend and back taxes
Replies: 16
Views: 1651

Re: Advice sought: close friend and back taxes

Wow, so many replies so quickly. Additional info as per requested: She is self-employed and has been for these five years. She has not filed returns for these five years. My plan at the moment is this: Contact a CPA to see the cost of filing the past five years + transcipts. Contact VITA to see how...
by delamer
Wed Jun 22, 2016 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Refinance with penalty?
Replies: 8
Views: 818

Re: Refinance with penalty?

Are you getting any income tax savings by deducting interest on your mortgage? You should take that into account in your calculations too. I'd be uncomfortable assuming that your rate will stay at 3.75% for the last 20 years of the loans. Rates are very low historically. I would seriously consider w...
by delamer
Tue Jun 21, 2016 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Advice sought: close friend and back taxes
Replies: 16
Views: 1651

Re: Advice sought: close friend and back taxes

Do you mean that she hasn't filed a return or that she hasn't had any taxes withheld?

Is she self-employed?
by delamer
Tue Jun 21, 2016 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: College vs. retirement
Replies: 11
Views: 1550

Re: College vs. retirement

Personally, I think you need to plan for both. It really depends on your values and your goals. In our case, my wife's parents paid for her college education, and my parents paid for mine. We wanted to do that for our kids too. We also wanted to have a secure retirement, but retiring at an early ag...
by delamer
Tue Jun 21, 2016 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Laws regarding trustee for relative's estate
Replies: 36
Views: 2408

Re: Laws regarding trustee for relative's estate

I agree with the comments above -- I would not assume that the trustees fees will be exorbitant. My parents' trusts are administered for about 0.75% which includes investing and payment of quarterly taxes and other bills. i am co-trustee with the bank. The only extra fee is a few hundred dollars eac...
by delamer
Mon Jun 20, 2016 10:38 pm
Forum: Investing - Help with Personal Investments
Topic: College vs. retirement
Replies: 11
Views: 1550

Re: College vs. retirement

What does "fully fund retirement now" mean? Do you mean that you can afford to max out your retirement contributions now, but not save for college too?
by delamer
Mon Jun 20, 2016 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: making the right move?
Replies: 18
Views: 1619

Re: making the right move?

Thank you for the replies. Looks like the common theme is that if something were to happen whether it be an illness or death or anything negative I would be better off being debt free which would afford me flexibility. I understand that viewpoint but let me play devils advocate. Would you feel more...
by delamer
Mon Jun 20, 2016 11:41 am
Forum: Personal Finance (Not Investing)
Topic: HSA, Social Security and Medicare
Replies: 17
Views: 1496

Re: HSA, Social Security and Medicare

This can get complicated. I would talk to your insurance company and find out what how your coverage integrates with Medicare. Medicare Part A is free, so your husband should sign up for that. There is no downside. There is a monthly premium and there can be a penalty for delaying enrollment past ag...
by delamer
Mon Jun 20, 2016 11:23 am
Forum: Personal Finance (Not Investing)
Topic: making the right move?
Replies: 18
Views: 1619

Re: making the right move?

What would happen if you only had one income in the family, due to death or disability (either permanent or temporary)? Do you have life insurance and disability insurance that would let you service all your debt? Would any of the student loan debt be forgiven? Are their any cosigners for the studen...
by delamer
Sun Jun 19, 2016 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: tax bracket question
Replies: 8
Views: 1471

Re: tax bracket question

That's where the term "marginal" comes in -- it refers to the tax rate on your next dollar of income.
by delamer
Sun Jun 19, 2016 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Fair to the kids, help educate the grandkids?
Replies: 26
Views: 3350

Re: Fair to thr kids, help educate the grandkids?

Would it be possible to make an actual contribution now to your grandkids' college educations and then wash your hands of it? For instance, tell both of your children "Your mother and I are contributing $10,000 to each of our current and future grandkids 529 plans for their college education. We hop...
by delamer
Sun Jun 19, 2016 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: When should I max out IRA (way way way behind)?
Replies: 8
Views: 908

Re: When should I max out IRA (way way way behind)?

So after paying off CC debt you will have $1400 to put toward debt repayment? Do the minimum payments on your other debt come out of the $1400 or are they included in your other expenses? Are you eligible for traditional IRAs? Can you deduct your student loan interest? What are your marginal tax ra...
by delamer
Sun Jun 19, 2016 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on house situation
Replies: 21
Views: 2675

Re: Advice on house situation

ctreada wrote:
What about if you had no rental income for 3 months from the condo?
It's a house. No HOA.
My mistake, I misunderstood. The rest of my comments still stand, especially with regard to talking to a lender.
by delamer
Sun Jun 19, 2016 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: When to exit cash and embark upon Target Retirement Fund "set it and forget" strategy
Replies: 34
Views: 4426

Re: When to exit cash and embark upon Target Retirement Fund "set it and forget" strategy

OP, I read your post a few minutes after reading this excellent piece by Barry Ritzholtz on the Washington Post website. The title says it very well: "The real risk in the market is staying out of it". You should read this: https://www.washingtonpost.com/business/get-there/the-real-risk-in-the-mark...
by delamer
Sun Jun 19, 2016 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: When should I max out IRA (way way way behind)?
Replies: 8
Views: 908

Re: When should I max out IRA (way way way behind)?

So after paying off CC debt you will have $1400 to put toward debt repayment? Do the minimum payments on your other debt come out of the $1400 or are they included in your other expenses? Are you eligible for traditional IRAs? Can you deduct your student loan interest? What are your marginal tax ra...
by delamer
Sun Jun 19, 2016 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on house situation
Replies: 21
Views: 2675

Re: Advice on house situation

How much would the condo payment constrain your ability to buy a new home that meets your needs? Do you have the liquid assets to cover a downpayment for the new place? What about if you had no rental income for 3 months from the condo? Is there a HOA fee? You have a positive cash flow based on rent...
by delamer
Sun Jun 19, 2016 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: When should I max out IRA (way way way behind)?
Replies: 8
Views: 908

Re: When should I max out IRA (way way way behind)?

So after paying off CC debt you will have $1400 to put toward debt repayment? Do the minimum payments on your other debt come out of the $1400 or are they included in your other expenses? Are you eligible for traditional IRAs? Can you deduct your student loan interest? What are your marginal tax rat...
by delamer
Sun Jun 19, 2016 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance - 15/20/30 fixed if selling in ~ 5 years
Replies: 4
Views: 528

Re: Refinance - 15/20/30 fixed if selling in ~ 5 years

It is a personal choice - do you prefer liquidity and/or to invest the extra yourself or would you prefer to get the mortgage as small as possible? Most likely having the extra liquidity would be useful if you want to move in 5 years. Also consider an ARM (adjustable rate mortgage). Lower rates if ...
by delamer
Sun Jun 19, 2016 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: High Credit Card Debt- Need Help
Replies: 107
Views: 10808

Re: High Credit Card Debt- Need Help

Question: If you don't have any income at all right now as you are taking care of your mother but your husband does, how much does your husband give you a month? It has to be something, or else you theoretically couldn't live. Does he just pay for the essentials such as food, mortgage, car, gas, in...
by delamer
Sun Jun 19, 2016 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: Is the C fund too risky?
Replies: 20
Views: 2618

Re: Is the C fund too risky?

Since you are married, you need to have an alternate plan in the event you predecease your wife (or vice versa). Is she getting a survivor benefit from your pension? Will she have SS income of her own, or just a spousal benefit? How much will her expenses decline if she outlives you? I'd figure thre...
by delamer
Sun Jun 19, 2016 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: College costs - Grandparents want to pay - Need help
Replies: 18
Views: 2524

Re: College costs - Grandparents want to pay - Need help

I keep 100% of the balance in 529 in stocks (even when the kids are in college). I can pay college tuition from current salary but use 529 plan for tax benefits. If the withdrawal for paying tuition occurs when stocks are doing well, then no further action is needed. If it occurs when stocks are do...
by delamer
Sat Jun 18, 2016 11:46 am
Forum: Personal Finance (Not Investing)
Topic: High Credit Card Debt- Need Help
Replies: 107
Views: 10808

Re: High Credit Card Debt- Need Help

Unless the OP has an in-demand skill set, working from home isn't going to solve this problem. And I assume if she had such a skill then she would already have a home-based business based on it. The best suggestion of the commentators is that she asks her husband to repay the debt and then work out ...