Search found 2333 matches

by Carefreeap
Fri Mar 06, 2015 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Bridging Delay to SS Strategy Opinions
Replies: 13
Views: 1677

Re: Bridging Delay to SS Strategy Opinions

What would your monthly income be if you took early SS? And at full retirement? Your situation may be that it's better to take that SS stream of income and essentially live on the income generated by the IRA vs the delay option (say a 3% withdrawal rate.) This way the stock portion of your portfolio...
by Carefreeap
Fri Mar 06, 2015 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 11921

Re: Does My Daughter Need A Prenup?

Why don't her parents and grandparents provide for her in trusts that she can control, rather than outright. This will protect her inheritance against her creditors and spouses, and will also keep it out of her estate for estate tax purposes. Almost all of our clients do this. Agreed...if there's e...
by Carefreeap
Thu Mar 05, 2015 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 8489

Re: If you have $1 million...

LOL, my 2005 4 Runner just passed 100k so at this point it's just broken in. DH wants to replace his sissy 2006 Lexus 300 GS which might have 50k on it so he keeps trying to get me to replace my car for "safety reasons".

LOL, I'm so onto his game.
by Carefreeap
Thu Mar 05, 2015 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1535

Re: Good Expensive Dental Plans

Thanks guys. I'll check those out!
by Carefreeap
Thu Mar 05, 2015 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1535

Re: Good Expensive Dental Plans

I checked out Aetna. They don't sell stand along policies in CA.

I also put in a call to my insurance agent to see if he can help find a policy.
by Carefreeap
Thu Mar 05, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Selling house, filling out forms for partial exclusion
Replies: 3
Views: 707

Re: Selling house, filling out forms for partial exclusion

I'll be in this boat at some point so this is how I would answer it but I'm not a CPA The escrow company just wants you to fill out their form because it's a reporting requirement. It's your responsibility to file your taxes properly and pay the taxes promptly as owed. In other words you'll probably...
by Carefreeap
Thu Mar 05, 2015 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1535

Re: Good Expensive Dental Plans

Not a recommendation but maybe helpful information. We have a Cobra plan from my wifes work and it costs us about $85.00/month. I think it is with Aetna and it pays full for routine cleaning, exams, etc. It has an annual maximum for major stuff like implants. I am having one done now and had one do...
by Carefreeap
Thu Mar 05, 2015 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Wife tired of saving...
Replies: 203
Views: 29838

Re: Wife tired of saving...

Separately, does anyone know if OP can 1031 exchange rental properties to pay for some of the new primary residence? You can but it's a two step process and you'd have to do the math to see if it makes sense. You can't do a direct 1031 into a personal residence. You can exchange into a house that y...
by Carefreeap
Thu Mar 05, 2015 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Retiring, buying new home, mortgage query?
Replies: 2
Views: 532

Re: Retiring, buying new home, mortgage query?

The interest rate will likely be about .5% higher as a non-owner occupant. PI payment will be closer to 3k/mth

Do you have a pension or are you planning on paying the mortgage from the earnings of your taxable investments and RMDs?

Looks like you could afford it either way you want to go.
by Carefreeap
Wed Mar 04, 2015 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1535

Re: Good Expensive Dental Plans

My impression is that there aren't a lot of dental insurance plans around. I think most of them are operated by Delta Dental now. I would check the Delta Dental website to see what they have available in the area and what it covers or not (dental implants?). If a dentist has recommended implants it...
by Carefreeap
Wed Mar 04, 2015 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1535

Good Expensive Dental Plans

Seems like an oxymoron here but it's a follow up to my Medicaid Post.

Does anybody have a recommendation for an excellent dental plan that costs around $90/mth for my 79 year old dad. Ideally the plan would cover dental implants.

He lives in So. CA

Thanks for your help
by Carefreeap
Wed Mar 04, 2015 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Poverty Level Medicaid Question
Replies: 12
Views: 1624

Re: Poverty Level Medicaid Question

I would call the eligibility worker, who oversees your father's case. I think that person would be able to advise you on how to decrease his countable income. I think you are right that costs for insurance, including dental insurance, would reduce his income. Does he have life insurance? Maybe, you...
by Carefreeap
Wed Mar 04, 2015 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Wife tired of saving...
Replies: 203
Views: 29838

Re: Wife tired of saving...

$750k in cash and cds? :shock:

What's the rate on those cds?
by Carefreeap
Wed Mar 04, 2015 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Poverty Level Medicaid Question
Replies: 12
Views: 1624

Re: Poverty Level Medicaid Question

As far as I know, there are no Dental Insurance plans that work similar to Health plans. Dental discount plans are very local. Your county SHIP could help identify those discount plans. Thanks. I've been looking at national plans like Delta Dental and Physicians Mutual. Dentist office didn't want t...
by Carefreeap
Wed Mar 04, 2015 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of your total net worth is your home?
Replies: 62
Views: 6870

Re: What percentage of your total net worth is your home?

Since it was brought up, I'm doing a cut and paste from my response on the other thread. "For our current home it was probably around 100% 20 years ago. I think if we threw every dime we had including draining the retirement accounts we may have had enough to pay cash. But six years before when we b...
by Carefreeap
Wed Mar 04, 2015 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Follow-up: What % of net worth was your home at purchase?
Replies: 14
Views: 2029

Re: Follow-up: What % of net worth was your home at purchase

For our current home it was probably around 100% 20 years ago. I think if we threw every dime we had including draining the retirement accounts we may have had enough to pay cash. But six years before when we bought our first single family house it was closer to 500% :shock: Fun to think that today ...
by Carefreeap
Wed Mar 04, 2015 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Poverty Level Medicaid Question
Replies: 12
Views: 1624

Re: Poverty Level Medicaid Question

You should contact an Elder Care Attorney specializing in Medicaid. Your county/local organization(s) may offer free legal assitance There are several 'loopholes' to use to alleviate your father's problem. Medicaid has several levels, your father's is probably QMB Plus level. You can visit SHIP (St...
by Carefreeap
Wed Mar 04, 2015 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Poverty Level Medicaid Question
Replies: 12
Views: 1624

Poverty Level Medicaid Question

Hi All, This is my first thread. Hopefully it's in the right spot. I'm posting on behalf of my 79 year old father and I hope none of you will find yourself in this situation. My dad is on the Poverty Level Medicaid Program. There are strict income and asset requirements. About 8 months ago he was co...
by Carefreeap
Wed Mar 04, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Best strategy bridging into retirement
Replies: 37
Views: 5010

Re: Best strategy bridging into retirement

You can start using your 401(k) money just about the time your severance ends. So why wouldn't you? The best I can come up with is..I have a Scottish heritage..I have a natural aversion to doing such things... :happy LOL, I'm with you there. But to reinforce the "fun money" concept keep in mind tha...
by Carefreeap
Wed Mar 04, 2015 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Best strategy bridging into retirement
Replies: 37
Views: 5010

Re: Best strategy bridging into retirement

My husband is a little younger than you and we live in VHCOLA SF Bay Area. Since our income has hovered around $100k since retiring we don't qualify for the ACA. His insurance premium for Kaiser is about $500/mo. I'm not a big fan of moving to low cost area for retirement UNLESS you already have an ...
by Carefreeap
Wed Mar 04, 2015 10:12 am
Forum: Personal Finance (Not Investing)
Topic: How to get started on a Trust/Will?
Replies: 27
Views: 3380

Re: How to get started on a Trust/Will?

Congrats on your first child! Glad you are thinking about this subject. Your concerns and situation are very common. There have been some recent threads on this subject. You may want to read through these threads and return and post with some additional questions: https://www.bogleheads.org/forum/vi...
by Carefreeap
Wed Mar 04, 2015 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Not Interested in Ever Owning Real Estate
Replies: 35
Views: 4605

Re: Not Interested in Ever Owning Real Estate

Owning your own home and being a LL are two very different animals in my opinion. Over the long term (say 20 years) unless you live in a rent controlled VHCOLA area like NYC or SF I think you're better off owning if you make the apples to apples comparison. As many folks mentioned, there's usually a...
by Carefreeap
Tue Mar 03, 2015 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Best strategy bridging into retirement
Replies: 37
Views: 5010

Re: Best strategy bridging into retirement

It looks to me like you should relax a little. Your 401(k) and your age - over 59.5 - seem to give you a lot of breathing room. Here is what I would do: 1) Pay off the mortgage. This will bring your cash down to $139K, but cut your regular expenses to $30K/year and "earn" you a guaranteed risk-free...
by Carefreeap
Tue Mar 03, 2015 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Helping a Parent by Becoming a Landlord
Replies: 10
Views: 1117

Re: Helping a Parent by Becoming a Landlord

And medicaid could take it all if it isn't legally your house 5 years before ur mother needs the funds. If u want to do this I would purchase the house at a fair price. Or have your mom gift it to you and then you pay her rent. Let's clarify this. In many states there's a five year look-back if you...
by Carefreeap
Tue Mar 03, 2015 7:20 pm
Forum: Personal Consumer Issues
Topic: Any ever do a small addition on their house?
Replies: 24
Views: 2718

Re: Any ever do a small addition on their house?

Do you actually need 4 bedrooms? How many kids do you have and what are their genders? Without seeing the interior wall structure the drawing isn't complete. What is the little box in the middle of the drawing? How long do you plan on living in this home? Is there a chance you or your wife could be ...
by Carefreeap
Tue Mar 03, 2015 4:19 pm
Forum: Personal Consumer Issues
Topic: Picking a listing agent
Replies: 16
Views: 1644

Re: Picking a listing agent

I'm a Realtor but I'll just tackle this one- e) ] We also did the seller's inspection. I did it because I know the inspections are used as a negotiating tool. Although we have fixed things when we've been made aware of them we've been out of the house for nearly 6 years and the house is 30+ years o...
by Carefreeap
Mon Mar 02, 2015 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Helping a Parent by Becoming a Landlord
Replies: 10
Views: 1117

Re: Helping a Parent by Becoming a Landlord

Can you buy the house from her now and let her rent from you? Are you an only child? I'm not crazy about the rent out the house and let her rent from someone else. At age 60 she's likely to live another 25 years. The landlording will get really old for you. From a tax perspective if you don't own th...
by Carefreeap
Mon Mar 02, 2015 9:20 pm
Forum: Personal Consumer Issues
Topic: Landlord requested addendum to lease
Replies: 24
Views: 2999

Re: Landlord requested addendum to lease

I'd send the landlord a copy of an ad for a plumber who can run a fiber optic camera through the pipes and visually inspect for the problem(s). It can identify exactly what each problem is and where it is located. They can also save the video. That technology has been around for quite a while now, ...
by Carefreeap
Mon Mar 02, 2015 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Questions to ask a living trust attorney during initial meet
Replies: 26
Views: 6437

Re: Questions to ask a living trust attorney during initial

Thank you Theorectical! Those were very helpful.
by Carefreeap
Mon Mar 02, 2015 7:36 pm
Forum: Personal Consumer Issues
Topic: Contacted by Internal Revenue Services [Scam]
Replies: 18
Views: 1931

Re: Contacted by Internal Revenue Services

LOL!

And thanks for the thread. Gave me a chance to talk to DH about the scam. He hadn't heard about it.
by Carefreeap
Mon Mar 02, 2015 7:17 pm
Forum: Personal Consumer Issues
Topic: Picking a listing agent
Replies: 16
Views: 1644

Re: Picking a listing agent

I'm a Realtor but I'll just tackle this one- e) The property is in a state typical for the neighborhood - could use new windows, a new detached garage, refit of electrical system, etc. How can I determine whether it makes sense to do those upgrades prior to sale - will a typically moderately compet...
by Carefreeap
Mon Mar 02, 2015 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Questions to ask a living trust attorney during initial meet
Replies: 26
Views: 6437

Re: Questions to ask a living trust attorney during initial

I'm very concerned that the non-US tax information is not correct/accurate. If she had said $60,000, it applies to non-resident non-citizen aliens. The full $5.4 million, but not the marital deduction, applies for resident aliens. However the residency test is a subjective one (unlike for income ta...
by Carefreeap
Mon Mar 02, 2015 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to do solo financial planning while married?
Replies: 14
Views: 1793

Re: Possible to do solo financial planning while married?

I would stay out of their business other than recommending that they work with a fee-only certified financial planner. While you are understandably concerned for your sister and her husband maybe kind of a jerk, nothing good is going to come of this. They already didn't take your advice to discuss f...
by Carefreeap
Mon Mar 02, 2015 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Passed, Help Mom: Next Steps?
Replies: 29
Views: 3960

Re: Dad Passed, Help Mom: Next Steps?

Would a rent to own approach help at all? I don't think it helps relieve the mother from the responsibilities of property tax, insurance and maintenance. And if title doesn't change then when Mom passes, the house will be sold and the proceeds divided between the siblings. The OP wouldn't get anyth...
by Carefreeap
Mon Mar 02, 2015 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Passed, Help Mom: Next Steps?
Replies: 29
Views: 3960

Re: Dad Passed, Help Mom: Next Steps?

Your mom could generate income by investing that close to $500k in a low cost target type mutual fund (I'm pretty sure it would be pretty bond heavy) and generate somewhere around $15000/yr. Just wondering how my mom would have close to $500,000 when the partial life estate will go towards the pric...
by Carefreeap
Mon Mar 02, 2015 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Questions to ask a living trust attorney during initial meet
Replies: 26
Views: 6437

Re: Questions to ask a living trust attorney during initial

A couple of comments/observations; 1. CA's threshold for probate if you own real estate is really low; I think's about $35k. Therefore if you own any real estate short of a mobilehome in a rural area of CA your heirs will have to go through probate to sell your house UNLESS it's in a Trust. I'm surp...
by Carefreeap
Mon Mar 02, 2015 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Where's your Will?
Replies: 46
Views: 4360

Re: Where's your Will?

Originals are in the safe deposit box along with scanned version on a thumb drive.... I've heard one should never keep the original in a safety deposit box because they are locked at the time of death and can't be opened until the estate is settled. Is this standard practice in every state or just ...
by Carefreeap
Mon Mar 02, 2015 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Where's your Will?
Replies: 46
Views: 4360

Re: Where's your Will?

One copy at home.
One copy with Lawyer in AZ
One copy with Trustee who is also a lawyer but in CA.

We also have a copy of my MIL's Trust (DH is the Trustee) and my father's Trust (I'm a co-Trustee)
by Carefreeap
Mon Mar 02, 2015 4:06 pm
Forum: Personal Consumer Issues
Topic: Landlord requested addendum to lease
Replies: 24
Views: 2999

Re: Landlord requested addendum to lease

We're renting a home with multiple buildings on the property in California. We're about ~1 year into a 2 year lease. The pipes have had repeated issues and the tenants in 2 units in the other building were displaced for ~3 weeks while the plumbing was repaired. Our pipes started clogging ~4 weeks, ...
by Carefreeap
Mon Mar 02, 2015 4:04 pm
Forum: Personal Consumer Issues
Topic: Picking a listing agent
Replies: 16
Views: 1644

Re: Picking a listing agent

If you have the time, I would pick three or four and "interview" them. I recently sold my mom's townhouse after she died and this is what I did. I let each agent know that I was interested in having them come by the property, look at it, make suggestions on selling price, presentation and give me t...
by Carefreeap
Mon Mar 02, 2015 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

Also could you clarify by what you mean by Living Will? In my state (CA) we having Wills and we have Living Trusts. The will may state something about your desire not to use extreme measures but that's only one part of the role of that document. For privacy reasons I think it's much easier to hand t...
by Carefreeap
Mon Mar 02, 2015 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should we refi our ARM if we plan to move w/in 2 years?
Replies: 7
Views: 926

Re: Should we refi our ARM if we plan to move w/in 2 years?

Thanks for your input. I was thinking the same thing, but my other half is nervous about rising rates and this ARM drives him crazy! I wanted to make sure my initial thoughts made sense to someone other than myself. This board has some great info - so glad I found it! Well the way to approach it is...
by Carefreeap
Mon Mar 02, 2015 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

In this situation even with a living will couldn't the family contest the will saying it was coerced or something similar? He was on Medicaid. There wasn't anything to contest except the jointly owned condo that the wife lived in. But surely given your profession you can understand a doctor's or ho...
by Carefreeap
Mon Mar 02, 2015 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Passed, Help Mom: Next Steps?
Replies: 29
Views: 3960

Re: Dad Passed, Help Mom: Next Steps?

How old is your mom? You definitely want to understand your county's Medicaid rules and structure your transaction accordingly. There are both asset and income limits as well as claw back provisions. You may actually have to see two different attorneys; one who understands eldercare issues and anoth...
by Carefreeap
Mon Mar 02, 2015 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

The classic case is Terry Shivo (sp?) whereby the husband was trying to get her off the breathing machines but her parents sued to keep her on. You may be in a unique situation where your family thinks alike. Many of us come from families who do not. We recently encountered a very ugly family scene...
by Carefreeap
Mon Mar 02, 2015 10:58 am
Forum: Personal Finance (Not Investing)
Topic: what is the opportunity cost of a paid off second home?
Replies: 2
Views: 515

Re: what is the opportunity cost of a paid off second home?

We have a 2nd home in AZ that we use in the Winter. Generally, it is cheaper to rent if your use of the home is less than 5 or more months per year. However, having a second home isn't per se, a financial decision. If you have sufficient funds to buy one and still easily maintain the rest of your l...
by Carefreeap
Mon Mar 02, 2015 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

Kind of off topic here, but can someone explain why I need a healthcare power of attorney or a living will? I'm a doctor, and I know a fair amount of medical ethics. I have talked to my wife anc told her I am an organ donor, and no prolonged lufe in futile situations. So what are these documents go...
by Carefreeap
Sun Mar 01, 2015 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

... It cost us $2500 for 2 Wills 1 Trust 2 Durable POA 2 Healthcare directives ... A lot of people also do spendrift clauses; e.g. child(ren) get x% at age 21, 25 & 35. But that will depend on your assets. It might have been worth your spending a bit more to have trusts for your children that didn'...
by Carefreeap
Sun Mar 01, 2015 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Fees for Trusts and Wills
Replies: 42
Views: 5575

Re: Legal Fees for Trusts and Wills

Make sure you're working with an attorney who knows estate law in your state. It cost us $2500 for 2 Wills 1 Trust 2 Durable POA 2 Healthcare directives I think the most important decision for you and your wife is choosing a guardian for your child(ren) and setting up a Trust for them. Many people c...
by Carefreeap
Sun Mar 01, 2015 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for how to help a grieving FIL with daily finances
Replies: 16
Views: 2315

Re: Advice for how to help a grieving FIL with daily finance

I'm sorry to hear about your loss as well.

Be sure to suggest (or even have your wife attend) some grief support groups. Men like your FIL tend to have their entire emotional outlet be their wives and are lost without them. Keep alert to signs of it.

Good luck. Tough journey for all of us to go on.