Search found 3114 matches

by NotWhoYouThink
Wed May 20, 2020 12:13 pm
Forum: Personal Consumer Issues
Topic: Safely disinfecting frozen food packages from corona virus?
Replies: 51
Views: 3883

Re: Safely disinfecting frozen food packages from corona virus?

I have never disinfected a frozen food package and don't plan to start. But this is not the forum for medical advice, so I won't say why.
by NotWhoYouThink
Mon May 18, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: How did you set up your trust distributions?
Replies: 39
Views: 2726

Re: How did you set up your trust distributions?

If I live a couple more years my trust will distribute directly to my kids. They will be old enough to spend it, donate it squander it or protect it as they choose.
by NotWhoYouThink
Sat May 16, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Do you need to worry about receiving college financial aid in 15 years if...
Replies: 28
Views: 2482

Re: Do you need to worry about receiving college financial aid in 15 years if...

the amount you have in the 529 will not matter in any formulas. It will however give you a tax break (maybe) on college costs. You won't be taxed on gains, but you won't be able to deduct losses. People on this board tend to focus way to hard on financial aid. There is a small demographic that gets...
by NotWhoYouThink
Sat May 16, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Do you need to worry about receiving college financial aid in 15 years if...
Replies: 28
Views: 2482

Re: Do you need to worry about receiving college financial aid in 15 years if...

Since financial aid is highly dependent on income but only slightly dependent on assets, assume you will get none if you have high income. And if you do have high income and expect to have high income when college years start, you might as well put some of the money in a 529, since you won't be gett...
by NotWhoYouThink
Fri May 15, 2020 7:28 am
Forum: Personal Consumer Issues
Topic: Flag Pole Light
Replies: 16
Views: 1198

Re: Flag Pole Light

How do your neighbors or HOA feel about having that light? I wouldn't want it next door to me.
by NotWhoYouThink
Thu May 14, 2020 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 199
Views: 9880

Re: Should we create a testamentary trust for $6M estate?

There's absolutely nothing wrong with planning for a worst case scenario. Worst cases tend to occur when you least expect them to. There is a difference between (1) realizing a worst care scenario is one possible outcome and incorporating that realization into the decision process and (2) making de...
by NotWhoYouThink
Thu May 14, 2020 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Husband Died and Spouse lack of knowledge.
Replies: 37
Views: 6237

Re: Husband Died and Spouse lack of knowledge.

pshonore wrote: Thu May 14, 2020 10:26 am Has she signed any tax returns? Looking at the latest filed return and supporting documentation would give her some info on where to start looking for more info.
Interesting question. If e-filed she probably would not have needed to.
by NotWhoYouThink
Wed May 13, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 199
Views: 9880

Re: Should we create a testamentary trust for $6M estate?

Getting back to the original question: why would you hand over $6 million in assets to any heir — regardless of trustworthiness, intelligence, past behavior — without providing some protection from creditors, divorce, or miscellaneous bad actors? Maybe I want my heirs to be able to "make discretion...
by NotWhoYouThink
Fri May 08, 2020 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Trust Transfer
Replies: 31
Views: 1127

Re: Trust Transfer

It sounds like you are concerned she would sell the farm, and that some of the beneficiaries would prefer that she didn't.
by NotWhoYouThink
Fri May 08, 2020 6:41 am
Forum: Personal Consumer Issues
Topic: Hospice care - room and board
Replies: 33
Views: 2690

Re: Hospice care - room and board

Are you sure you will be able to visit her? Because of the COVID-19 pandemic many states have limited visitors to all types of senior care facilities, even for hospice patients. Just a reminder to make sure you understand what your state restrictions are now, and what might change if anyone in that ...
by NotWhoYouThink
Thu May 07, 2020 4:37 pm
Forum: Personal Investments
Topic: Deluded by dividends, bond interest, & cap gains
Replies: 29
Views: 2340

Re: Deluded by dividends, bond interest, & cap gains

I apparently had been deluded into thinking that reinvesting dividends, bond interest, and even capital gains generated by mutual funds owned in a pre-tax retirement IRA helps to lessen the impact of selling shares for living expenses and ultimately help the account to grow. Very interesting phrasi...
by NotWhoYouThink
Thu May 07, 2020 8:14 am
Forum: Personal Finance (Not Investing)
Topic: How Do Early Retirees Pay for Medical
Replies: 132
Views: 10123

Re: How Do Early Retirees Pay for Medical

Wife has $300,000 pension.
Per year?
by NotWhoYouThink
Wed May 06, 2020 2:05 pm
Forum: Personal Consumer Issues
Topic: Cross Country Drive-Best route? Safest way to do it?
Replies: 40
Views: 3859

Re: Cross Country Drive-Best route? Safest way to do it?

Some of my best travel experiences were when I stumbled into something that I could not have planned so even though you may not be able to see some of the bucket list destinations this could still be a memorable trip.
Every. Single. Trip.
by NotWhoYouThink
Wed May 06, 2020 11:49 am
Forum: Personal Consumer Issues
Topic: Cross Country Drive-Best route? Safest way to do it?
Replies: 40
Views: 3859

Re: Cross Country Drive-Best route? Safest way to do it?

Wow, that sounds like a great drive. And it would have been a very cool vacation. Now it will be something of an adventure that your family will go through together, and I hope you still have some fun. Second all the suggestions for planning the trip around pet-friendly hotels and bringing plenty of...
by NotWhoYouThink
Wed May 06, 2020 6:53 am
Forum: Personal Consumer Issues
Topic: Can I save this tree? (Mulberry Tree SF Bay Area)
Replies: 10
Views: 743

Re: Can I save this tree? (Mulberry Tree SF Bay Area)

Have you ever had a mulberry tree? Your neighbors may chip in to pay to replace it. (In my area, birds eat the mulberries and leave purple stains on your home and cars.)
by NotWhoYouThink
Sun May 03, 2020 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Please help me unravel my parents mess
Replies: 55
Views: 6795

Re: Please help me unravel my parents mess

Is the XOM stock even part of the portfolio the advisor is managing? My former Megacorp always had Megacorp stock as one of the investment options in the 401k. If that stock is all in a tax deferred plan there might not be any tax consequence to selling it all now, although your dad might not want t...
by NotWhoYouThink
Sat May 02, 2020 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me unravel my parents mess
Replies: 55
Views: 6795

Re: Please help me unravel my parents mess

Stop Scaring Your Parents! was good advice. I'll add Stop blaming the advisor! Because I don't think your dad was advised to hold that much XOM stock when his paycheck and pension were with XOM. So stop blaming and scaring people, and start being amazed at what a great situation your parents are in....
by NotWhoYouThink
Sat May 02, 2020 9:11 am
Forum: Personal Consumer Issues
Topic: Neighbor’s contractor wants to access our property
Replies: 158
Views: 17052

Re: Neighbor’s contractor wants to access our property

I agree that Sandtrap's post was both helpful and generous.
by NotWhoYouThink
Fri May 01, 2020 3:24 pm
Forum: Personal Consumer Issues
Topic: cannot check Amazon gift card balance without adding to my account
Replies: 7
Views: 558

Re: cannot check Amazon gift card balance without adding to my account

I made that same mistake, but was not kind enough to warn others. So thanks for doing that.
by NotWhoYouThink
Thu Apr 30, 2020 11:37 am
Forum: Personal Investments
Topic: Confused on where to start 15% for retirement
Replies: 17
Views: 1422

Re: Confused on where to start 15% for retirement

Save 15% of your salary, but half your bonus. (That may mean, with taxes, you don't get much bonus)
by NotWhoYouThink
Thu Apr 30, 2020 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Will / Trust Question- Home Sale Issue. I need help.
Replies: 31
Views: 1383

Re: Will / Trust Question- Home Sale Issue. I need help.

If your advice is to say "no" outright, does anyone have any advice on how to say no, in a way that doesn’t cause damage? i.e. is there any reasonable case as to why it’s in their interest to not move forward with this? There is probably not a way forward that doesn't cause damage, because your int...
by NotWhoYouThink
Thu Apr 30, 2020 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual (65 to Life) Insurance. Keep it?
Replies: 42
Views: 2263

Re: Northwestern Mutual (65 to Life) Insurance. Keep it?

Advuser, advisor, or salesman, this person is never going to agree with you that Whole Life is a bad product for you. Not as long as he is paid well to sell it to you. Read the arguments from White Coat Investor to remind yourself of all the problems, but don't expect the salesman to say "Oh, yeah, ...
by NotWhoYouThink
Tue Apr 28, 2020 9:48 pm
Forum: Investing - Theory, News & General
Topic: When is past information useful?
Replies: 21
Views: 1308

Re: When is past information useful?

Is there any other kind of information?
by NotWhoYouThink
Tue Apr 28, 2020 8:53 am
Forum: Investing - Theory, News & General
Topic: Anyone wish they would have invested more during recent downturn?
Replies: 124
Views: 11307

Re: Anyone wish they would have invested more during recent downturn?

Everything is invested so I can't invest more. Asset allocation is set, and I did make one adjustment to keep it within range, but other than that there wasn't much to do.

So no, no wishing I had done anything different.
by NotWhoYouThink
Tue Apr 28, 2020 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual (65 to Life) Insurance. Keep it?
Replies: 42
Views: 2263

Re: Northwestern Mutual (65 to Life) Insurance. Keep it?

There is a "hivemind" on this site about whole life insurance much as there is a "hivemind" on mom blogs about not playing in traffic. There are good reasons for it. It's time consuming to explain all the problems with whole life every time someone asks, but a smart guy has written up a great summar...
by NotWhoYouThink
Sun Apr 26, 2020 10:23 am
Forum: Personal Investments
Topic: Is there a maximum one should keep at one brokerage firm?
Replies: 25
Views: 1668

Re: Is there a maximum one should keep at one brokerage firm?

I wouldn't want my account to represent more than 10% of a firms total assets. Vanguard has over $5 Trillion, so I'm comfortably within that limit.

For near term spending needs, I'd also want to keep money at least one other place, my local bank.
by NotWhoYouThink
Sat Apr 25, 2020 5:00 pm
Forum: Personal Investments
Topic: Mother has only $85K to sustain her
Replies: 81
Views: 8356

Re: Mother has only $85K to sustain her

You've made sure she is getting all she should be from his pensions, SS and estate, if any?
by NotWhoYouThink
Sat Apr 25, 2020 3:18 pm
Forum: Investing - Theory, News & General
Topic: Why do investors have a hard time doing nothing?
Replies: 53
Views: 3995

Re: Why do investors have a hard time doing nothing?

People who accumulate enough money to invest have a bias to action. Not acting feels weird to them.
by NotWhoYouThink
Sat Apr 25, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: DD's apartment complex requires renters insurance
Replies: 50
Views: 2118

Re: DD's apartment complex requires renters insurance

Has she moved in? Landlords with good management companies will verify the insurance before she gets a key. Those of you who own real estate correct me if I'm wrong, here, but - Most renters are judgement proof (look at how quickly many people's financial lives collapsed 4-6 weeks into this lockdown...
by NotWhoYouThink
Sat Apr 25, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: DD's apartment complex requires renters insurance
Replies: 50
Views: 2118

Re: DD's apartment complex requires renters insurance

Wasn't required when I was renting in the 1970s-1980s, but seems almost universal now. She is insuring the apartment complex against any damage she may do, while incidentally insuring her own stuff - they certainly don't require it for her own good. The insurance companies cater to the landlords her...
by NotWhoYouThink
Sat Apr 25, 2020 10:29 am
Forum: Personal Investments
Topic: All the upside of the S&P with 10% downside protection "Free"?
Replies: 116
Views: 8214

Re: All the upside of the S&P with 10% downside protection "Free"?

OP, given your FIL's behavioral history, are you sure this is such a terrible deal for him that you should talk him out of it? If he would get frustrated and cash out in a few years it would be bad. But if he feels committed to it, he would be paying a hefty fee for someone to force him to stay the ...
by NotWhoYouThink
Sat Apr 25, 2020 10:17 am
Forum: Personal Investments
Topic: Rethinking annuities with a strong portfolio
Replies: 30
Views: 1483

Re: Rethinking annuities with a strong portfolio

Now fully into retirement (mid 60’s) and with this Covid situation I really feel retired (not good or bad just retired). I built what I thought was almost a bulletproof portfolio. (34% SPY 33% muni/treasury/CD and 33% commercial real estate) plus a small pension. Planning on SS at 70 (have not fact...
by NotWhoYouThink
Thu Apr 23, 2020 8:40 am
Forum: Personal Investments
Topic: All the upside of the S&P with 10% downside protection "Free"?
Replies: 116
Views: 8214

Re: All the upside of the S&P with 10% downside protection "Free"?

And it is always an awful position when there is a scam artist in between you and a relative, because, yes, the scam artist might well be more persuasive than you. But something good that can be said about this is that at least this is a legitimate product, not a Madoff scheme. Your father-in-law i...
by NotWhoYouThink
Wed Apr 22, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Parents want me to pay off their mortgage in exchange for title
Replies: 102
Views: 9464

Re: Parents want me to pay off their mortgage in exchange for title

Everyone's relationship to their parents is different as is their financial situation. I can add, based on my own (and DH) experience: We did do something similar, in a time of need for my mom. Dad passed away, then a serious health issue, and a job loss followed - making her life awful. DH and I w...
by NotWhoYouThink
Wed Apr 22, 2020 1:56 pm
Forum: Personal Investments
Topic: ETFs or Indexed Life insurance
Replies: 36
Views: 1290

Re: ETFs or Indexed Life insurance

Can you clarify whether you are:

a) getting a persistent sales pitch for such a product, and trying to understand whether it is a good one, or

b) a salesman for such a product trying to anticipate objections to be able to better sell them to unsuspecting marks?
by NotWhoYouThink
Wed Apr 22, 2020 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Parents want me to pay off their mortgage in exchange for title
Replies: 102
Views: 9464

Re: Parents want me to pay off their mortgage in exchange for title

OP, the other thing to remember is that you can't "make" your parents (or anyone else, including your kids) do anything. You can offer advice, you can offer conditions on the help you provide, but if they are sufficiently determined to keep going down a path to ruin you can't stop them. You can deci...
by NotWhoYouThink
Wed Apr 22, 2020 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Parents want me to pay off their mortgage in exchange for title
Replies: 102
Views: 9464

Re: Parents want me to pay off their mortgage in exchange for title

Helping a drowning person does not mean letting them pull you down with them. OP needs to conserve his financial strength to be able to provide the support his parents will surely continue to need.

That means a hard "no" on paying off the mortgage in return for the house.
by NotWhoYouThink
Wed Apr 22, 2020 7:09 am
Forum: Personal Finance (Not Investing)
Topic: will covid 19 destroy senior campuses
Replies: 52
Views: 4437

Re: will covid 19 destroy senior campuses

I would argue that everyone in a nursing home that can temporarily move out and stay with family should do so. Only if the family is staying put. I worked a week in an CCRC. The independent living is just like an apartment. I wouldn't consider it anymore "dangerous" than living with family. . Many ...
by NotWhoYouThink
Tue Apr 21, 2020 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?
Replies: 14
Views: 612

Re: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?

Lee_WSP wrote: Tue Apr 21, 2020 6:51 pm
ballons wrote: Tue Apr 21, 2020 6:48 pm Selling to a dealer would be just as risky to the estate and me personally as if sold to an individual? :confused
Since both are fairly risk-less to you; yeah.
+1
by NotWhoYouThink
Tue Apr 21, 2020 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?
Replies: 14
Views: 612

Re: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?

Your estate attorney will know, but it sounds like you think they held the title as Tenants in Common, not Joint Tenants. So that the car is now the two estates own the car as tenants in common. If that's the case you either accept their buy out or get them to agree to a sale or get a court to orde...
by NotWhoYouThink
Tue Apr 21, 2020 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?
Replies: 14
Views: 612

Re: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?

Your estate attorney will know, but it sounds like you think they held the title as Tenants in Common, not Joint Tenants. So that the car is now the two estates own the car as tenants in common. If that's the case you either accept their buy out or get them to agree to a sale or get a court to order...
by NotWhoYouThink
Tue Apr 21, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?
Replies: 14
Views: 612

Re: Estate sale of vehicle, both unrelated owners deceased; sell to dealer or get bought out of interest?

ballons, who are you to owner #1 or owner #2? Do you have any authority to do anything here? Do you have the ability to walk away?

The comment above reflects my preferences as well.
by NotWhoYouThink
Tue Apr 21, 2020 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Parents want me to pay off their mortgage in exchange for title
Replies: 102
Views: 9464

Re: Parents want me to pay off their mortgage in exchange for title

You can skip the elder care attorney, this is a bad deal and you know it. Your parents have a house they can't afford, and they want you to pay to let them keep it. They are offering to sell you a $550K house for $180K, but your basis will not be $180K, it will be something close to $550K, and they ...
by NotWhoYouThink
Tue Apr 21, 2020 11:59 am
Forum: Personal Finance (Not Investing)
Topic: will covid 19 destroy senior campuses
Replies: 52
Views: 4437

Re: will covid 19 destroy senior campuses

The caregivers and custodians at these facilities aren't locked down. They need to be first on the list when the vaccine comes out. After the vaccine, things will drift back to mostly normal. Until then, we have the choice between the despair of isolation (and we are there now, as those of us with f...
by NotWhoYouThink
Mon Apr 20, 2020 7:38 am
Forum: Personal Finance (Not Investing)
Topic: When do you walk away from whole life insurance?
Replies: 31
Views: 3619

Re: When do you walk away from whole life insurance?

I don't know much about whole life but still am curious as to why everyone is giving advice to never buy it. Yet no one has (1) provided any numbers or (2) have given an explanation of how whole life insurance works. I would like to see someone give a numbers comparison of a 30 year old male buying...
by NotWhoYouThink
Sun Apr 19, 2020 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on how to file taxes for teenager
Replies: 19
Views: 722

Re: Advice on how to file taxes for teenager

He should be able to do it without anyone looking over his shoulder. I did, back in the day when you picked up your forms at the post office or library. Even went to the library to pick up the forms, no one did it for me. Publication 17 has lots of good information still, available on PDF from the c...
by NotWhoYouThink
Sun Apr 19, 2020 1:46 pm
Forum: Personal Investments
Topic: Northwestern Mutual 3.5% on Inherited Cash
Replies: 51
Views: 3815

Re: Northwestern Mutual 3.5% on Inherited Cash

Insurance companies are highly regulated. When you get your payout, you are not dealing with a commissioned sales person, you are dealing with a different group. I would expect them to do what NWM did, which is explain to the beneficiary the benefit that the policy owner paid for.
by NotWhoYouThink
Sun Apr 19, 2020 1:32 pm
Forum: Personal Investments
Topic: Our Retirement Plan vs Financial Advisor Plan - Thoughts?
Replies: 60
Views: 4377

Re: Our Retirement Plan vs Financial Advisor Plan - Thoughts?

He's not recommending much of a change except a significant tilt away from large cap and toward real estate in your stock allocation, right? Still keeping about 25% fixed income/cash, which includes the thing you call guaranteed (stable value fund?), plus bonds plus cash. Not necessary since Total S...
by NotWhoYouThink
Sun Apr 19, 2020 10:25 am
Forum: Personal Investments
Topic: Northwestern Mutual 3.5% on Inherited Cash
Replies: 51
Views: 3815

Re: Northwestern Mutual 3.5% on Inherited Cash

As mentioned above, it probably wasn't a high rate when the policy was written. This is a promise made 30+ years ago to the policy owner. This is not a deal we can sign up and get today. Maybe the policies written today guarantee a 1% rate for the beneficiary.
by NotWhoYouThink
Sat Apr 18, 2020 5:48 pm
Forum: Personal Investments
Topic: Northwestern Mutual 3.5% on Inherited Cash
Replies: 51
Views: 3815

Re: Northwestern Mutual 3.5% on Inherited Cash

No, a fixed annuity won't get you the 3.5% that the NWM offer is giving OP. Because a fixed annuity comes with a fee up front, and OP is being offered 3.5% on the total amount of his insurance benefit, with no fee up front or along the way. Or net of fees, if you prefer. And can withdraw at any time...