Search found 2733 matches

by NotWhoYouThink
Tue Jan 26, 2016 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: whole life: 1500 cash value after 28 years?
Replies: 20
Views: 5038

Re: whole life: 1500 cash value after 28 years?

Does anybody buy or sell these policies any more? Someone sold some to my FIL, we've long since cashed it out. Can't wrap my head around buying life insurance for babies. Must be quite a salesman to make any money at it.
by NotWhoYouThink
Mon Jan 25, 2016 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: IRS filing - certified mail with or without return receipt
Replies: 9
Views: 9775

Re: IRS filing - certified mail with or without return receipt

The reason is that many people who write websites and magazines don't read the law and prefer to engage in magical thinking. The receipt you get when you hand the certified letter to the mail clerk is sufficient. Here is a helpful link to the rule. https://www.law.cornell.edu/uscode/text/26/7502 Fi...
by NotWhoYouThink
Sun Jan 24, 2016 10:40 am
Forum: Personal Investments
Topic: Think my future father in law is giving the wrong advice to my fiance..what should i do?
Replies: 111
Views: 12893

Re: Think my future father in law is giving the wrong advice to my fiance..what should i do?

If this is emblematic of some larger concern that her father is going to be an inappropriate force in your married life, then have that argument in its own right--don't waste a good argument on the wrong thing :-). This. Both your fiancee and her father believe that her father is an expert on inves...
by NotWhoYouThink
Sat Jan 16, 2016 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question as sole beneficiary
Replies: 32
Views: 5633

Re: Inheritance question as sole beneficiary

Does your brother have good insight into this account, and into the whole estate? Is he financially sophisticated? Does he trust you? In my family, if I tried to explain a situation like the one you have, one or two family members would immediately pick up on the issues, another one would become int...
by NotWhoYouThink
Sun Jan 10, 2016 6:26 pm
Forum: Personal Investments
Topic: Advisor wants to convert TSP to ?
Replies: 64
Views: 8176

Re: Advisor wants to convert TSP to ?

I did try to talk my wife out of meeting with this guy, but she is convinced he just wants to give us advice on minimizing taxes. I have told her repeatedly he wants to sell us something that is for his benefit, not ours. The good news is that there is a good chance that once he tries to sell us so...
by NotWhoYouThink
Fri Jan 08, 2016 4:56 pm
Forum: Personal Investments
Topic: Wells Fargo -- Can't Purchase/Hold Vanguard Funds?
Replies: 5
Views: 2191

Re: Wells Fargo -- Can't Purchase/Hold Vanguard Funds?

Glad you asked, sorry to hear the answer. I also have an elderly relative with a WFA IRA. A 5-year CD just matured, and the helpful adviser got him to use the proceeds to buy a couple of mutual funds, with average 5.5% front load and 1.15% ER. ARRRGGH! Nothing I can do about it now, but it looks lik...
by NotWhoYouThink
Fri Jan 08, 2016 1:36 pm
Forum: Investing - Theory, News & General
Topic: Sharing Advice from meeting with High Level Vanguard Advisor
Replies: 61
Views: 10322

Re: Sharing Advice from meeting with High Level Vanguard Advisor

Some people like to think things through, do some research, and learn and decide for themselves, some like to hire experts. And some like to do a combination of both. In this case the expert said almost exactly what the consensus on this board would be. So I'll do what I used to do at MegaCorp. if t...
by NotWhoYouThink
Fri Jan 08, 2016 12:58 pm
Forum: Investing - Theory, News & General
Topic: worst first four opening days in HISTORY for S&P 500
Replies: 125
Views: 17874

Re: worst first four opening days in HISTORY for S&P 500

Can we try for the worst 5 days? I had some funds sold (company payout schedule, not my choice on timing) Monday, need time to get it in my hands and buy. Preferably before any recovery starts.
by NotWhoYouThink
Wed Jan 06, 2016 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Nature vs Nurture
Replies: 27
Views: 1966

Re: Nature vs Nurture

Many posters on this board write about how they are going to set up Roth IRAs for their kids as soon as the kids start their first lemonade stands, or how they are going to put requirements on how kids handle allowance and gifts (spend/save/donate specific percentages) and how they are going to put ...
by NotWhoYouThink
Wed Jan 06, 2016 12:51 pm
Forum: Personal Investments
Topic: Trying to avoid money issues between family/siblings
Replies: 17
Views: 3069

Re: Trying to avoid money issues between family/siblings

Yes, if you know enough to be active on this board, you will probably be better off financially after all of this is over than anyone else in your family. And if you get a few extra dollars out of it, so much the better. Good luck. But put up the appearance of a fight for the money, because you cert...
by NotWhoYouThink
Wed Jan 06, 2016 12:05 pm
Forum: Personal Investments
Topic: Trying to avoid money issues between family/siblings
Replies: 17
Views: 3069

Re: Trying to avoid money issues between family/siblings

If they haven't been living in it for the last 2 years, will that affect the capital gains exemption?
by NotWhoYouThink
Wed Jan 06, 2016 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Incorporating your home into networth calculation
Replies: 108
Views: 10570

Re: Incorporating your home into networth calculation

How many legs does a dog have, if you call the tail a leg?
by NotWhoYouThink
Tue Jan 05, 2016 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Tell My Children About My Inheritance Plan?
Replies: 57
Views: 6274

Re: Should I Tell My Children About My Inheritance Plan?

I won't bail out anybody, but I might sell stuff to buy stuff I value more, which might include a contribution to a 3-fund portfolio, or might just be a less cluttered life. And I carry no anger toward you, but am startled that you would look at a 10 year old think of jailed boyfriends. My sisters s...
by NotWhoYouThink
Tue Jan 05, 2016 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: New to quarterly taxes
Replies: 13
Views: 1308

Re: New to quarterly taxes

(From instructions on line 79) Exception. You will not owe the penalty if your 2013 tax return was for a tax year of 12 full months and either of the following applies. 1.You had no tax shown on your 2013 return and you were a U.S. citizen or resident for all of 2013. 2.The total of lines 64, 65, a...
by NotWhoYouThink
Tue Jan 05, 2016 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: New to quarterly taxes
Replies: 13
Views: 1308

Re: New to quarterly taxes

If you have no other income one payment up front is probably ok. If you have a mix of withheld and estimated, and make anything other than 4 equal quarterly payments, don't you then have to demonstrate that the total tax paid as of the end of each quarter is at least equal to (90% of) the tax attrib...
by NotWhoYouThink
Tue Jan 05, 2016 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Tell My Children About My Inheritance Plan?
Replies: 57
Views: 6274

Re: Should I Tell My Children About My Inheritance Plan?

She is just shy of 11 years old, but this is part of her financial training. She doesn't know figures, but she knows that the few family heirlooms we have are only to be sold for dire emergencies such as life-saving health treatments, not to be spent on a vacation just because she feels she needs a...
by NotWhoYouThink
Mon Jan 04, 2016 7:01 pm
Forum: Personal Investments
Topic: Relative's IRA - power of attorney or assignment of rights
Replies: 11
Views: 907

Re: Relative's IRA - power of attorney or assignment of rights

It can be very hard to get people with dementia to understand that they are doing things that are putting themselves in jeopardy, but maybe you can get through to him about how he'd feel if he hurt someone else while driving. Empathy is one of the first things to go, and self-awareness goes right a...
by NotWhoYouThink
Mon Jan 04, 2016 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 6942

Re: What to do for elderly parent, if they reject help?

OP, does your mother have a lawyer that she has worked with before and respects? She probably won't listen to you say you need POA, but she might listen if her lawyers says it. I've noticed that the declining seniors in my family will listen to "experts" but not their kids. Of course you have to get...
by NotWhoYouThink
Mon Jan 04, 2016 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Tell My Children About My Inheritance Plan?
Replies: 57
Views: 6274

Re: Should I Tell My Children About My Inheritance Plan?

My kids, early 20s, know that our estate will be split equally between them, and they know which uncle they need to be nice to until they are 30, because he will be the executor of the wills and trustee for the trusts if we die before that time. That's about all they were able to absorb before their...
by NotWhoYouThink
Sun Jan 03, 2016 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 6942

Re: What to do for elderly parent, if they reject help?

Her actions... you mean just aging, getting into her 80's, and maybe not being as sharp as she once was? :confused Of course that's not what I mean. I mean not preparing for predictable kinds of problems that happen in old age. I assume if there were another child of this mother living closer by th...
by NotWhoYouThink
Sun Jan 03, 2016 10:53 am
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 6942

Re: What to do for elderly parent, if they reject help?

Sorry you are going through this, it is hard. First, remember that she is in a hole that she dug herself - her actions while she was competent have put her in this place. It may fall to you to dig her out, but don't let anyone make you feel guilty for the fact that she is here to start with. As othe...
by NotWhoYouThink
Wed Dec 23, 2015 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: The Family Home, estate question?
Replies: 20
Views: 1853

Re: The Family Home, estate question?

I would expect the kids to change the house completely. I'm not attached to it that much, they could burn it down and build something else if they choose, would be nice if the shop was kept :wink: I'm dead anyway, don't think I will care! Of course you won't care. But will the siblings care? If the...
by NotWhoYouThink
Wed Dec 23, 2015 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: The Family Home, estate question?
Replies: 20
Views: 1853

Re: The Family Home, estate question?

Sell the home when you are 80 and move into a CCRC. Solves several problems at once. Gets rid of most of your "stuff." Gets the house out of your estate. Gets you someplace safe before you have a chance to become a burden on your kids. A family I know bought his parents' house. And they changed it!!...
by NotWhoYouThink
Tue Dec 15, 2015 10:21 am
Forum: Personal Investments
Topic: [Intending to drop international funds]
Replies: 70
Views: 10193

Re: I've been duped by index investing it seems.

Your complaint is not with indexing but with diversification.
by NotWhoYouThink
Thu Dec 10, 2015 6:14 pm
Forum: Personal Consumer Issues
Topic: Advice for Encouraging Parents to Declutter Home?
Replies: 38
Views: 3865

Re: Advice for Encouraging Parents to Declutter Home?

The answer to "how can I make xxxxxxx do yyyyyyyy" is almost always that you can't. You can't make them invest your way, spend your way, drink your way, or tidy up your way. As others have suggested, you can remove your clutter from their house. My home is filled with plenty of stuff I want to pitch...
by NotWhoYouThink
Thu Dec 10, 2015 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much money should I leave my kids?
Replies: 59
Views: 8062

Re: How much money should I leave my kids?

Why protect them from creditors? I pay my debts and expect the rest of you to pay yours. Especially if I am the creditor or a stockholder of the creditor. Yes, if things get bad enough (and the debts aren't college loans) you can declare bankruptcy, but otherwise pay your debts. Trusts are often adv...
by NotWhoYouThink
Thu Dec 10, 2015 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Single & Frugal or Coupled & (Financially) Incompatible?
Replies: 107
Views: 15174

Re: Single & Frugal or Coupled & (Financially) Incompatible?

How do you feel about supporting her dad? If you marry her, and she becomes financially secure, the two of you will be seen as a source to bail at dad, and maybe the brother that loaned dad money. It's a tough decision, but unless you are both prepared to set clear boundaries regarding transfer of y...
by NotWhoYouThink
Wed Dec 09, 2015 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much money should I leave my kids?
Replies: 59
Views: 8062

Re: How much money should I leave my kids?

Are you going to die tomorrow or in 30 years? Where do you want your money to go if you die tomorrow? Where do you want to make sure it never goes? Is there some person or organization you think would spend it better now than your kids would? For that matter, are you married? Why do you think there ...
by NotWhoYouThink
Wed Dec 09, 2015 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Audit Trigger for charitable deductions?
Replies: 7
Views: 2749

Re: Audit Trigger for charitable deductions?

Are you changing your question from "What will trigger an audit" to "How to pass an audit"?
by NotWhoYouThink
Sun Dec 06, 2015 2:58 pm
Forum: Personal Consumer Issues
Topic: New car safety features
Replies: 31
Views: 3462

Re: New car safety features

My backup sensor only alerts me to motion - it will beep at the squirrel running behind me on my driveway, but not at my neighbors car parked in the street across from my driveway. So far I haven't hit either, but it's been interesting getting used to what the newer safety tools really do for me.
by NotWhoYouThink
Sun Dec 06, 2015 2:52 pm
Forum: Personal Consumer Issues
Topic: Car for new teen driver?
Replies: 38
Views: 2617

Re: Car for new teen driver?

Maybe someday all cars will have blind spot, lane departure, collision avoidance, rear cameras.....Until then, my preference would be to teach your teen to drive in a car that does not have all of these, and let him get used to paying detailed attention to situational awareness. It is much easier to...
by NotWhoYouThink
Fri Dec 04, 2015 6:19 pm
Forum: Personal Investments
Topic: 16 y/o daughter with gifted 4K
Replies: 13
Views: 1688

Re: 16 y/o daughter with gifted 4K

Having the strings attached definitely complicates matters. It sounds like this money was given for her to "have" rather than "use." Kind of like those old Beanie Babies where you were supposed to keep the tag on to retain the resale value, rather than playing with them. I assume the giver does not ...
by NotWhoYouThink
Fri Dec 04, 2015 1:57 pm
Forum: Personal Investments
Topic: 16 y/o daughter with gifted 4K
Replies: 13
Views: 1688

Re: 16 y/o daughter with gifted 4K

I understand that you are trying to get her to think long term, but a 16 year old probably needs to learn a lot about budgeting more than she needs to learn investing. You say she has $62K in a 529 plan. What are your plans to pay for her college? You have plenty of money/family money to send her an...
by NotWhoYouThink
Fri Dec 04, 2015 12:16 pm
Forum: Personal Investments
Topic: 16 y/o daughter with gifted 4K
Replies: 13
Views: 1688

Re: 16 y/o daughter with gifted 4K

The money was given to your daughter, not to you, right? What does she want to do with it? If she still has it in January of her senior year in high school, it may or may not affect her ability to get college financial aid, it depends on whether she would otherwise have been eligible. But even if it...
by NotWhoYouThink
Tue Nov 24, 2015 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Push child to avoid expensive college?
Replies: 210
Views: 20941

Re: Push child to avoid expensive college?

Under current rules, your daughter will be able to borrow $5,500 each of her first 2 years, $6,500 her third year, and $7,500 her 4th year. That's it, those are federal loans and the only ones she will be able to get without you or someone else as a co-signer. If you do not intend to co-sign for her...
by NotWhoYouThink
Thu Nov 19, 2015 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Settling estate debts
Replies: 17
Views: 2581

Re: Settling estate debts

OP, the bank is negotiating with you, and they think you are negotiating with them. They think if they agree to an amount they may be leaving money on the table. You have told them that's not the case, but guess what? They deal with sneaky lying cheats every day of the week, and they can't tell whet...
by NotWhoYouThink
Wed Nov 18, 2015 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity for Father-in-Law?
Replies: 14
Views: 1922

Re: Annuity for Father-in-Law?

How much will his wife's income decrease if he dies first? $315/month is not much, but if he has a pension and she does not, and her survivor benefits under his pension are small, then maybe she will eventually need more income. Although now would not be the time for her to be buying an annuity. She...
by NotWhoYouThink
Wed Nov 18, 2015 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity for Father-in-Law?
Replies: 14
Views: 1922

Re: Annuity for Father-in-Law?

My Father-in-Law is thinking about investing in an annuity. What are some red flags that you should look for when thinking about annuities? A red flag is that your father-in-law is thinking about investing in an annuity. In his IRA. Which is his only savings? Sounds like there is a sales agent invo...
by NotWhoYouThink
Mon Nov 16, 2015 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Why own GNMA Pass Thru Pool
Replies: 13
Views: 1589

Re: Why own GNMA Pass Thru Pool

Thanks for the information and insight, skepticalobserver. I would love to hear the sales pitch that led to this purchase. Maybe whatever brokerage he was with at the time had a sale. Fortunately, no one needs to get to the money anytime soon.
by NotWhoYouThink
Mon Nov 16, 2015 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Why own GNMA Pass Thru Pool
Replies: 13
Views: 1589

Re: Why own GNMA Pass Thru Pool

If we needed to get to the money, are they fairly liquid?
by NotWhoYouThink
Sun Nov 15, 2015 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Why own GNMA Pass Thru Pool
Replies: 13
Views: 1589

Re: Why own GNMA Pass Thru Pool

This is more a curiosity question than a need to change anything in someone else's portfolio, especially keeping in mind that "not what I would do" and "wrong" are not synonyms. What would be the argument for buying these at all, especially as individual securities and not as a bond fund? It looks l...
by NotWhoYouThink
Sun Nov 15, 2015 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help! Inherited money I planned to use for retirement but it disqualifies my kids from scholarships.
Replies: 147
Views: 11894

Re: Help! Inherited money I planned to use for retirement but it disqualifies my kids from scholarships.

However, without all numbers, the calculations would be useless, and this discussion becomes speculative and tends to generate opining and judgement. Even with all the numbers the calculations would be useless. Plenty of detail and precision, no context at all to help it make sense. Your best bet i...
by NotWhoYouThink
Sun Nov 15, 2015 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Things you can do and can't do with home equity line of credit?
Replies: 9
Views: 1541

Re: Things you can do and can't do with home equity line of credit?

AFAIK you can use the proceeds from a home equity loan for cash to burn in a bonfire if you want. If you are subject to AMT and the loan is not used for home improvements the interest won't be deductible. If you are loaning it to your friend, that may affect his ability to get a mortgage, at least a...
by NotWhoYouThink
Sun Nov 15, 2015 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Why own GNMA Pass Thru Pool
Replies: 13
Views: 1589

Why own GNMA Pass Thru Pool

FIL isn't ready to have anyone take over his finances, but he is at least allowing his kids to look at what he's got now. He lives on his SS and pension, and mostly just shifts his RMDs to his taxable account. If he needs to go to assisted living or hire daily in-home help, that will change. It look...
by NotWhoYouThink
Sun Nov 15, 2015 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Help! Inherited money I planned to use for retirement but it disqualifies my kids from scholarships.
Replies: 147
Views: 11894

Re: Help! Inherited money I planned to use for retirement but it disqualifies my kids from scholarships.

The title of your post is incorrect. No amount of money disqualifies your kids from scholarships, scholarships are given for academic or athletic excellence, without regard to need. In addition, your inheritance has only a very slight effect on your kids ability to get need based financial aid in th...
by NotWhoYouThink
Fri Nov 06, 2015 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Expected Family Contribution
Replies: 67
Views: 13036

Re: Expected Family Contribution

You won't have accurate data to file FAFSA or CSS until you have your tax information from this year. If your data is not accurate, your financial aid report (that comes with the acceptance notification) will not be accurate. If you are applying EA or ED, you may have to fill these out early. Otherw...
by NotWhoYouThink
Thu Nov 05, 2015 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Expected Family Contribution
Replies: 67
Views: 13036

Re: Expected Family Contribution

The vast majority of schools will not provide financial aid at all, even if your EFC is very low. You may qualify for loans. The help you want is on the College Confidential web site, on the Financial Aid Forum. There is no better guide, and the posters there rival the posters on this forum for know...
by NotWhoYouThink
Thu Nov 05, 2015 10:12 am
Forum: Personal Investments
Topic: Friend wants to compare advisor to Vanguard, am I making the appropriate comparisons?
Replies: 19
Views: 3558

Re: Friend wants to compare advisor to Vanguard, am I making the appropriate comparisons?

Does he plan to use Vanguard's advisement services? If not he has a bigger change to make than just moving his funds to a different custodian. He needs to go from letting someone else put his funds somewhere to being in charge of where his funds go. Is he ready for that step?
by NotWhoYouThink
Fri Oct 30, 2015 8:41 am
Forum: Investing - Theory, News & General
Topic: Building a Nest Egg for young kids
Replies: 10
Views: 1991

Re: Building a Nest Egg for young kids

You are saving for your own retirement, right? It sounds like this is money you would want to give to your adult offspring about the time of your own retirement. So you might as well save aggressively for retirement, with the thought that if you manage to get ahead of the game you can give some to y...
by NotWhoYouThink
Thu Oct 29, 2015 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Managing retirement date and income for college financial aid
Replies: 68
Views: 7096

Re: Managing retirement date and income for college financial aid

Don't get too caught up in "need blind" admissions policies--all that means is that in theory they accept students irrespective of their need and at most they are fully committed to meet all demonstrated need. In reality, children of wealthy donors or prospective wealthy donors get a leg up and the...