Search found 126 matches

by samsmith
Mon May 25, 2015 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: $4500 reasonable for wills for blended family and some trusts?
Replies: 38
Views: 4535

Re: $4500 reasonable for wills for blended family and some trusts?

Two wills, plus QTIPS, plus POA does not sound that bad for $4500. As others have stated, I would try to nail down is this the retainer, or the flat/max rate? I have used higher priced attorneys, but I am always uncomfortable with an open ended billing arrangement. I tr to get them to tell me the fl...
by samsmith
Mon May 18, 2015 11:48 am
Forum: Personal Investments
Topic: TIPS: Auction vs Secondary Market
Replies: 3
Views: 988

TIPS: Auction vs Secondary Market

I am considering purchasing some TIPS and slowly building a ladder in my tax-advantaged account with them for some of my bond space. I have accounts at Fidelity and Vanguard and it looks like I can buy at auction - with either broker - without a charge. There is a 10 year TIPS "reopening" ...
by samsmith
Sun May 17, 2015 9:40 am
Forum: Personal Consumer Issues
Topic: After test driving a car, best next steps to take?
Replies: 9
Views: 2434

Re: After test driving a car, best next steps to take?

I purchased that exact car 3.6 Legacy (Silve color) with Moonroof, Keyless entry, Navigation and EyeSight package. Car has been great. You can get for ~ 30K. Need to email the dealers and ask for internet price. One thing is that I had to order the car the specific car. It meant I had to wait about ...
by samsmith
Fri May 01, 2015 4:54 pm
Forum: Investing - Theory, News & General
Topic: Transferring Roth IRA - Fidelity to Vanguard
Replies: 5
Views: 1517

Re: Transferring Roth IRA - Fidelity to Vanguard

I have accounts at both. Agree with others - really no reason to switch The Fidelity Spartan Advantage class funds are about the same as vanguard admiral
by samsmith
Sun Apr 26, 2015 8:34 am
Forum: Personal Investments
Topic: 529 Recommendation
Replies: 11
Views: 1865

Re: 529 Recommendation

As opposed to you picking the state, you might consider asking the generous family member what state THEY would like to use. For many states, if the generous family member uses their home states 529 plan, the family member can get a tax reduction. Would mean the family member likely still controls t...
by samsmith
Thu Apr 23, 2015 9:17 pm
Forum: Personal Investments
Topic: 1099-R with direct custodian to custodian transfer
Replies: 5
Views: 1178

Re: 1099-R with direct custodian to custodian transfer

You will receive a 1099-R showing a code "G" as the distirbution code in Box 7. The gross amount of the rollover will be reported on line lla or 15a of your Form 1040, with a zero amount on Line 11b or 15b. I saw that info on the IRS website. However, the IRS 1099R instructions say: Trans...
by samsmith
Thu Apr 23, 2015 8:36 pm
Forum: Personal Investments
Topic: 1099-R with direct custodian to custodian transfer
Replies: 5
Views: 1178

1099-R with direct custodian to custodian transfer

Does anyone know if I will get a 1099-R if I do a direct custodian to custodian transfer for a rollover IRA i have? It looks like from the IRS website the answer is "no" - if it is a direct transfer. Wonder if anyone has experience with this?
by samsmith
Wed Apr 22, 2015 5:33 pm
Forum: Personal Investments
Topic: Taxable vs 529 for College
Replies: 8
Views: 1390

Re: Taxable vs 529 for College

Agree with others that suggest you wait until you have a child to fund a 529. Also if you are a non-resident of Utah - I don't think you will get a state tax deduction for funding Utah's state plan. Unless there is something special with your state, tax deductions are commonly limited to funding the...
by samsmith
Wed Apr 22, 2015 3:38 pm
Forum: Personal Investments
Topic: Taxable vs 529 for College
Replies: 8
Views: 1390

Re: Taxable vs 529 for College

The 529 plan I would consider is outside of my state, in Utah with a 5% state tax deductible on the first $1,860 contributed. I am confused by this sentence. Are you a Utah resident considering investing in Utah's 529 plan? Or are you a non-resident of Utah considering investing in Utah's 529 plan?
by samsmith
Tue Apr 21, 2015 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming Trustee. Do they need my income and net worth?
Replies: 32
Views: 6768

Re: Becoming Trustee. Do they need my income and net worth?

I completely agree with SteveM. If your aunt can't find a trust copy, then SHE should/needs to ask the lawyer for a copy of the trust document. We know she is the trustee - so she, as trustee, is entitled to the document. If your aunt is "useless," then you should try to become co-trustee....
by samsmith
Tue Apr 21, 2015 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming Trustee. Do they need my income and net worth?
Replies: 32
Views: 6768

Re: Becoming Trustee. Do they need my income and net worth?

My source for saying that it is an irrevocable trust is information from the original poster. I also see that it is an irrevocable trust. I think there is a good chance that the trust was created purposely as an irrevocable trust to get the funds out of her estate and thus to not be available to her...
by samsmith
Tue Apr 21, 2015 7:18 am
Forum: Personal Consumer Issues
Topic: How to pay real estate tax with Target Redcard
Replies: 102
Views: 15271

Re: How to pay real estate tax with Target Redcard

Use Target Billpay and list the payee as the town. However, list your home address as the address. You will get a paper check in the mail from Target. Either take the check into your town's office or mail it in yourself with the real estate bill.
by samsmith
Sun Apr 19, 2015 5:37 am
Forum: Investing - Theory, News & General
Topic: Experience in working with TD Ameritrade
Replies: 18
Views: 3663

Re: Experience in working with TD Ameritrade

I am considering transferring an IRA account to TDA Because they appear to have a reasonably generous transfer in promotion.
Plan would then be to use their no cost ETFs to purchase vanguard ETFs. Any downside to this plan. Do other brokerages have enticing transfer promotions currently?
by samsmith
Fri Apr 17, 2015 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Becoming Trustee. Do they need my income and net worth?
Replies: 32
Views: 6768

Re: Becoming Trustee. Do they need my income and net worth?

my two cents. We clearly need more info. I am not sure that the grandmother is a beneficiary - she is the grantor of an irrevocable trust. Grantors of these types of trusts are commonly not beneficiaries. Next - I don't think beneficiaries are necessarily entitled to trust documents. Practically, I ...
by samsmith
Thu Apr 16, 2015 11:06 am
Forum: Personal Investments
Topic: Backdoor Roth after Rollover
Replies: 10
Views: 1499

Re: Backdoor Roth after Rollover

I think I know the answer to this, but if my wife is over 50 then I assume she is eligible to make a total non-deductible IRA contribution of $6500 in 2015 (standard $5500 plus the $1000 catch-up)? As for the Backdoor Roth, I assume the total $6500 would be eligible for the Backdoor Roth conversion?
by samsmith
Thu Apr 16, 2015 11:00 am
Forum: Personal Investments
Topic: T Rowe price
Replies: 8
Views: 2017

Re: T Rowe price

At this point, planning on moving forward with transferring my current rollover IRA from T Rowe to either TD ameritrade, fidelity, schwab. I assume I want to do a direct custodian to custodian transfer. Assuming I do this, what, if any, tax forms will I get at the end of the year? Will T Rowe report...
by samsmith
Mon Apr 13, 2015 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA and 1099 worker
Replies: 4
Views: 1690

Re: SEP IRA and 1099 worker

Does anyone know if I have a small company that establishes a SEP IRA and has a 1099 worker - can the company cover the 1099 worker in the company's SEP IRA? Meaning the company would fund the SEP on workers behalf and take the expense deduction. The worker would not do a second SEP on the money re...
by samsmith
Mon Apr 13, 2015 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA and 1099 worker
Replies: 4
Views: 1690

SEP IRA and 1099 worker

Does anyone know if I have a small company that establishes a SEP IRA and has a 1099 worker - can the company cover the 1099 worker in the company's SEP IRA? Meaning the company would fund the SEP on workers behalf and take the expense deduction. The worker would not do a second SEP on the money rec...
by samsmith
Sat Apr 11, 2015 8:46 pm
Forum: Personal Investments
Topic: Backdoor Roth after Rollover
Replies: 10
Views: 1499

Re: Backdoor Roth after Rollover

What confuses me is that I know I will need to do a From 8606 for my 2014 Tax Year. On line 1, of Form 8606, I would enter the amount of the non-deductible IRA attributable to the 2014 tax year (likely $5500). But what I cant figure out is what we go on line 2 of Form 8606. It sounds like this is t...
by samsmith
Sat Apr 11, 2015 3:55 pm
Forum: Personal Investments
Topic: Asset class for cash/cd
Replies: 5
Views: 748

Re: Asset class for cash/cd

Thanks to all.
Seems to me that I can view myself as having a very conservative "fixed income" portfolio because of the cash component.
by samsmith
Sat Apr 11, 2015 3:50 pm
Forum: Personal Investments
Topic: Backdoor Roth after Rollover
Replies: 10
Views: 1499

Re: Backdoor Roth after Rollover

I have a similar situation/question. I want to do a non-deductible contribution to a TIRA now (for tax year 2014). Then in 2015, I would transfer my prior deductible SEP IRAs and traditional IRAs to a solo 401k and then do another non-deductible TIRA in 2015 (for tax year 2015). Then convert the two...
by samsmith
Sat Apr 11, 2015 1:04 pm
Forum: Personal Investments
Topic: Asset class for cash/cd
Replies: 5
Views: 748

Asset class for cash/cd

I expect this has been asked before - but when I look use Quicken to determine my asset allocation i see ~60% stocks, ~20% bonds and ~ 20% cash and cash equivalents (money markets and CDs). Do most people consider CDs & money markets as part of their bond allocations? I assume people will tell m...
by samsmith
Sun Apr 05, 2015 10:33 pm
Forum: Personal Investments
Topic: Institutional Diversification???
Replies: 10
Views: 1491

Re: Institutional Diversification???

I just posted on thus same issue in another thread. For my two cents, I think institutional diversification is important. I understand that it us extremely unlikely that vanguard would go bankrupt and read the link I. This thread about vanguard's unique structure. Having said that, it just seems to ...
by samsmith
Sun Apr 05, 2015 10:17 am
Forum: Personal Investments
Topic: T Rowe price
Replies: 8
Views: 2017

Re: T Rowe price

My first thought isn't about TRP, it's about why you feel compelled to have a brokerage account and buy ETFs vs. mutual funds. Is there some reason for that? It does seem like over time all the MF/brokerages are forcing customers into a single (brokerage) platform, and I kind of understand that fro...
by samsmith
Sun Apr 05, 2015 9:45 am
Forum: Investing - Theory, News & General
Topic: Bored -- wondering about day trading for fun
Replies: 61
Views: 16071

Re: Bored -- wondering about day trading for fun

New to this board - but have been a "bogelhead" for many years. Every few years I try day-trading mostly for kicks. I find it fun. Most recently - used an account at fidelity as they have something called Active Trader Pro. Needed to have $25,000 in account or to avoid some form of margin ...
by samsmith
Sun Apr 05, 2015 7:19 am
Forum: Personal Investments
Topic: T Rowe price
Replies: 8
Views: 2017

T Rowe price

I have just found thus site and enjoy reading it immensely. I started vesting in 1990 and have been a do-it- yourself investor with vanguard since then. My main assets have always been in vanguard. Over time, my portfolio has become more "complex" in that I clearly have too many funds. Als...