Search found 452 matches

by Minot
Wed Aug 05, 2015 7:04 pm
Forum: Personal Consumer Issues
Topic: Furniture Pads for moving
Replies: 12
Views: 1553

Re: Furniture Pads for moving

You could also check with Penske. About 3/4 down the page.
by Minot
Wed Jul 22, 2015 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads plan to utilize Independent Living facilities?
Replies: 108
Views: 14113

Re: Do Bogleheads plan to utilize Independent Living facilities?

............... how LTCi and CCRC's work together? Is the insurance redundant? Yes, it is. No, it is not, at least at many if not most CCRC's. You can use your LTCi to cover qualified costs, either those included as part of your CCRC monthly fee, or as added fee-for-service. In Independent Living, this would only apply if you needed additional help with activities of daily living (which at my CCRC, and probably most, would be an added-fee-for-service). If you are in Assisted Living or Skilled Nursing, your LTCi may cover some part of your CCRC fees. Some CCRCs are now requiring that residents have LTCi. Only at lifecare CCRCs (those with the heftiest entry fees and flat monthly fees regardless of whether you are in independent living, assi...
by Minot
Sun Jul 19, 2015 7:16 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11149
Views: 2085221

Re: What Movie Have You Recently Watched?

Rattlesnake wrote:Longmire, on Netflix....

We thinks it's good....
I liked the books better.
by Minot
Wed Jul 08, 2015 2:54 pm
Forum: Personal Consumer Issues
Topic: Vanguard phonecall asking for personal information
Replies: 47
Views: 8630

Re: Vanguard phonecall asking for personal information

I'm reading this the day after I got a call from a Vanguard agent who started the conversation by telling me the reason he was calling, which involved a transaction which I had initiated by mail, and then asked me to answer one of my security questions (which could well have been the city of my birth, though in my case it was a more obscure piece of information). I answered it, the conversation continued to resolution, this morning I got a confirmation email from Vanguard.

In future, I will likely respond the same way.
by Minot
Tue Jun 16, 2015 6:13 pm
Forum: Personal Consumer Issues
Topic: Most Beautiful Nature Destinations
Replies: 50
Views: 10798

Re: The Grand Canyon

Taylor Larimore wrote:mbk734:

After three trips around the world, The Grand Canyon in the United States is the most spectacular "nature destination" that I have seen.

Best wishes.
Taylor
And the most powerful way to see it is to take a 2-week long oar-powered raft trip through it, in October. The October part is important for two reasons. One is that you will pretty much have the canyon to yourselves, and at least equally important is the quality of the less-direct light.
by Minot
Sun Jun 14, 2015 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Unwise to keep funds at one bank?
Replies: 32
Views: 6397

Re: Unwise to keep funds at one bank?

I was told, but did not verify, that the FDIC insurance has 99 years (fine print) to make good on the money. If that is the case, you may want to have diversity. All it took for me to verify that this is NOT true was Googling fdic 99 years. Top result was an FDIC page which says, MISCONCEPTION 5: The FDIC can take up to 99 years to pay insured deposits when a bank fails. The Facts: The FDIC occasionally receives calls from depositors about this myth; it often comes from consumers who attended a financial seminar and heard that the FDIC can and will take up to 99 years to pay the depositor’s insured deposits after a bank is closed. This claim is false and entirely without merit. The truth is that federal law requires the FDIC to pay deposit...
by Minot
Mon May 25, 2015 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: When is it safe to share financial details with gf, future wife
Replies: 53
Views: 9139

Re: When is it safe to share financial details with gf, future wife

And, okay, I'll go ahead and say it: your post begs the question, how good is the communication between you two? Because it seems weird to me that you're planning to marry someone you obviously don't know that much about. Huh?!? OP says "we are on the same page as far as LBYM, investing, no debt, early retirement, but we've never shared actual figures...." and from this you conclude that he "obviously [doesn't] know that much about" her?? I don't read it that way at all; I read that he has a pretty clear idea of her financial values, but not her net worth, which strikes me as being fairly well down the road in knowing someone in the financial area--and we have no information whatsoever regarding how much he does or does...
by Minot
Thu May 21, 2015 12:35 pm
Forum: Investing - Theory, News & General
Topic: Investment Priority turned upside down?
Replies: 8
Views: 1551

Re: Investment Priority turned upside down?

The usual advice is to favor tax-deferred accounts over taxable. "Investing in a prioritized order will maximize the tax efficiency of a portfolio." https://www.bogleheads.org/wiki/Prioritizing_investments Similar reasoning favors Roth conversions using taxable savings to cover the tax. But this prioritized order assumes full consumption of the assets during the lifetime of the retiree or spouse. Full consumption probably rarely occurs for Bogleheads. It rarely occurs if one follows a safe withdrawal rule. Because of the stepped up basis, prioritizing for inheritance may favor taxable over tax-deferred. If look at your nest egg and you see that you are very unlikely to run out of money even if seek to increase or hold on to your ...
by Minot
Thu May 21, 2015 10:38 am
Forum: Personal Investments
Topic: Advice for younger friend
Replies: 11
Views: 1308

Re: Advice for younger friend

myrrh wrote:You told him to do this in a Roth IRA, not a taxable account, right?
Assuming he has earned income. Does he have access to a 401K, 403b, etc., and does it provide a match? If so, that should be his choice rather than the Roth, since the match is free money.
by Minot
Mon May 18, 2015 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes article by Wade Pfau: Improving Retirement Outcomes with Investments, Life Insurance, and Income Annuities
Replies: 43
Views: 13696

Re: Forbes article by Wade Pfau: Improving Retirement Outcomes with Investments, Life Insurance, and Income Annuities

Fortunately, being single and expecting to continue so, I don't have to figure out whether Wade's article has value for me; it clearly does not apply.
by Minot
Sat May 02, 2015 9:47 pm
Forum: Forum Issues and Administration
Topic: Forum is now back ONLINE!
Replies: 45
Views: 9116

Another issue with the new format

I usually have several tabs open, and switch back and forth between them. Up to this point if I was in the Bogleheads Forum, no matter where, the tab read "Bogleheads.org." Now it shows the subject line of the topic, which my 78 year old brain finds confusing. As a browser of Bogleheads who is also listening for activity on the webcams I follow, or who often gets sidetracked following links or looking something up, I may have been "away" from the Forum topic I was reading for some time, and the tab label may not be easily recognized. Is there any way to go back to having the browser tab read "Bogleheads" instead of, e.g., "Another issue with th"?
by Minot
Thu Apr 30, 2015 2:59 pm
Forum: Personal Investments
Topic: Admiral Shares - Is there any disadvantage to them?
Replies: 15
Views: 4317

Re: Admiral Shares - Is there any disadvantage to them?

And my experience has been that if my Admiral fund dips below $10,000 due to market decline (as opposed to my withdrawals), Vanguard has not downgraded it.
by Minot
Thu Apr 23, 2015 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Rolling An RMD Into A Roth
Replies: 7
Views: 1200

Re: Rolling An RMD Inro A Roth

If you're referring to the Amy Chain/Joel Dickenson video dated Mar 23, 2015, he is suggesting using Roth conversions in order to avoid future RMDs, though in context of the discussion, it's not altogether surprising that you didn't pick up on the conversion part. It's clearer in the transcript.
by Minot
Wed Apr 15, 2015 7:52 am
Forum: Personal Finance (Not Investing)
Topic: 2015 tax effects of missed 2014 RMD
Replies: 7
Views: 898

Re: 2015 tax effects of missed 2014 RMD

If you filed the 5329 correctly and advised that you made up the missed 2014 RMD, you will likely never hear further from the IRS and that means the waiver was approved. How the RMD delinquency affects your 2014 or 2015 tax bill has never been a factor in whether the IRS waives the penalty or not. Most people pay a higher tax total for the two years in this situation, but the amount of difference varies widely because your tax bill includes all the other factors that you report in the different years. In other words, the amount you saved on your 2014 return will likely be more than wiped out when you figure your 2015 taxes with the two RMDs reported. And you cannot opt to report the income in any other year than the distribution was actual...
by Minot
Tue Apr 14, 2015 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: 2015 tax effects of missed 2014 RMD
Replies: 7
Views: 898

2015 tax effects of missed 2014 RMD

A little after 2 PM on 12/31, it suddenly hit me that I had neglected to take about $13,000 of RMD on my Vanguard IRA. This would have been no problem if I lived on the East Coast, or even in the CST zone, but I'm in California. I went ahead and ordered the distribution online, but of course, it didn't go through until 1/2/2014. I've filed Form 5239 and asked for a waiver; now I'm looking at what the effect has been/will be on my taxes (aside from any penalty I may or may not have to pay). The missing $13,000 on my 2014 taxes resulted in a surprisingly low tax bill, because it had reduced my taxable Social Security income by almost 90%. While I will be taxed for 2 years worth of RMDs on my 2015 return, I don't see that the amount I saved on...
by Minot
Sun Apr 12, 2015 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Forgot to take RMD.. now what?
Replies: 29
Views: 5058

Re: Forgot to take RMD.. now what?

Received 2014 RMD confirmation statement from Vanguard Nov 2014. Contacted Vanguard Feb 17, 2015 re: income taxes withheld on RMD and informed Vanguard had not disbursed 2014 RMD. Instructed Vanguard to disburse RMD and withhold associated federal taxes. Was my understanding that distribution would automatically occur after receipt of confirmation from Vanguard Nov 2014. Using TaxAct software which doesn't allow "RC" entry on dotted line in line 52 of IRS Form 5329 per IRS instructions. Should I write seperate check to IRS for 50% penalty and request wavier 2014 RMD penalty by letter, or.......?????? Bill 1. I'm in the process of doing my taxes on TaxAct online. Their PDF of my Form 5329 does show the RC entry on the dotted line ...
by Minot
Sun Mar 29, 2015 7:53 pm
Forum: Investing - Theory, News & General
Topic: MRD and charitable contributions
Replies: 10
Views: 1182

Re: MRD and charitable contributions

My understanding is that this option is only available to those required to start RMDs. Is this correct? Ralph Yes, R in RMD stands for Required Minimum Distribution. The "Yes" in this response is correct but the rest of it isn't altogether clear, at least not to me. You have to be at least 70 1/2 to use the Qualified Charitable Distribution, which is also the age at which you are have to start taking RMD's. In other words, at least as I read it, age drives both RMDs and QCD eligibility, rather than RMDs driving QCD eligibility. I'm pretty certain, for instance, that if you had already taken your 2014 RMD (not as a charitable donation) before Congress reinstated the QCD at the end of the year, you could have then taken a Qualifie...
by Minot
Sun Mar 29, 2015 3:41 pm
Forum: Investing - Theory, News & General
Topic: How to invest to give back?
Replies: 30
Views: 3518

Re: How do you invest to give back?

LadyGeek wrote:You can also donate via your IRA. See this IRS website: Charitable Donations from IRAs
Unfortunately, this option is currently expired. The House passed a bill (H.R. 644) in February to make it permanent, but the the Senate has yet to act on it. Consider contacting your Senators and/or members of the Senate tax-writing committee to encourage them to act on it.
by Minot
Thu Mar 26, 2015 5:31 pm
Forum: Personal Investments
Topic: A Vanguard transfer issue... Thoughts?
Replies: 12
Views: 1577

Re: A Vanguard transfer issue... Thoughts?

Good for Vanguard, and thanks for posting the outcome.
by Minot
Mon Jan 19, 2015 1:55 pm
Forum: Personal Investments
Topic: Two CSRS Fed Employees Retiring 2015 - Need Input Please!
Replies: 49
Views: 6769

Re: Two CSR Fed Employees Retiring 2015 - Need Input Please!

tt122209 wrote: Roth Vanguard Total Intl Stock Market Admiral - $120,000 + $6,500 annually
Not sure what you mean by "+$6,500 annually". Once you are retired you will no longer have earned income, so you will not be able to contribute more to your Roth (or any other IRA).
by Minot
Mon Jan 19, 2015 1:25 pm
Forum: Personal Consumer Issues
Topic: Ladybugs! How do I get rid of them!
Replies: 20
Views: 3228

Re: Ladybugs! How do I get rid of them!

CountryBoy wrote:Well, it's all relative.

I have one that has lived with me for about 3 months now. Her name is Matilda and we get along just fine. She will live to be 2-3 yrs. old.

She is far cheaper than our cat re food and kitty litter and she makes less noise.

She isn't noisy and doesn't make any demands; she just wants to be nearby and enjoy the warmth of my desk light and the plants in the room.

I'm cool with that.
:happy
by Minot
Sat Jan 17, 2015 1:10 pm
Forum: Personal Consumer Issues
Topic: Options for moving our pets across country
Replies: 47
Views: 6362

Re: Options for moving our pets across country

Girino wrote:Wife and I are retiring and will be moving from Virginia to Oregon next July.
This is your major problem. Airlines are unlikely to accept your pet either as cargo or checked baggage. Leaving pets in the SUV while you stop to eat and/or sightsee will likely not be possible, unless you can come up with some way to keep the AC running while you're away from the vehicle, or one of you stays in it with engine/AC running.
by Minot
Fri Jan 16, 2015 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: This topic is causing stress in marriage we need some help
Replies: 81
Views: 18148

Re: This topic is causing stress in marriage we need some he

lululu wrote: I think the part time stay at home instead of working more full time Dad has not made it clear why it's necessary for him to do that vs. the child having some perhaps more advantageous time in a socialized setting in day care.
OP wrote:I only work part time right now because I still need to be here at home when my son gets home from his school and take him to his appointments
by Minot
Tue Jan 06, 2015 4:35 pm
Forum: Personal Investments
Topic: Help my 67 y/o mother retire
Replies: 14
Views: 2549

Re: Help my 67 y/o mother retire

Assuming that she actually wants your advice, you need to start by finding out what it's costing her to have her assets managed the way she's got them. Talk with her about Fidelity's costs, since she doesn't have the same emotional connection there. Fido's website says their adviser's fee varies between 0.63% and 1.7%, based on total assets invested (I'm guessing that she's closer to the higher number) and on top of that there's the cost of the individual funds: the couple of Strategic Funds I looked up had (net) ERs of .89 and 1.13. Ow, ow, OW!!!! This looks like being at least 35% of the safe withdrawal rate of no more than 4%. If you can get her to understand what Fidelity Advisers is doing to her, then she may be more open to at least l...
by Minot
Mon Jan 05, 2015 10:52 pm
Forum: Personal Investments
Topic: Preparing your assets for your inheritors, simplify?
Replies: 9
Views: 2128

Re: Preparing your assets for your inheritors, simplify?

What does your spouse want you to do?
by Minot
Sat Jan 03, 2015 2:40 pm
Forum: Personal Investments
Topic: Where does someone in their mid-20s with $5000 start?
Replies: 30
Views: 5570

Re: Where does someone in their mid-20s with $5000 start?

Hi, I'm 31 now with around 100k on a middle class income and started reading this forum and focusing on personal finance in my mid 20s. I remember accumulating specifically my first 5k and wondering what to do. I ended up using it to pay off a student loan of about that much. I think the hard thing for you to hear is that the 5k you've saved up isn't going to make you wealthy. What will make you wealthy is the continuation and growth of the habits that got you that 5k of disposable income. If wealth were as fast and easy as picking a couple individual stocks then everyone would do that. There is a ton of information in other places of the internet about speculation but this forum doesn't recommend that. There are people that try to make mo...
by Minot
Fri Dec 05, 2014 11:43 pm
Forum: Personal Investments
Topic: Do RMDs at 30 years old affect typical investment guidelines
Replies: 13
Views: 2211

Re: Do RMDs at 30 years old affect typical investment guidel

Most of my angst comes from what will happen when the RMDs get into the 6 figures, and really what I should be doing now to minimize my tax liability. Be sure that your RMD numbers are correct. If your RMD's will actually be that large then there could be significant estate tax issues that might be more of an issue than your current taxes. OP references an earlier post which shows expected value of Inherited IRAs approximately $850,000. I'm assuming that the deceased died after age 70.5, which means that RMDs are figured on (what would be) deceased's single life expectancy. If, for example, the deceased was age 71 at time of death, the RMD's are designed to distribute the entire amount in 16.3 years; if death was at age 90, then it gets di...
by Minot
Fri Nov 21, 2014 11:07 pm
Forum: Personal Investments
Topic: Help with Mom's portfolio
Replies: 19
Views: 4133

Re: Help with Mom's portfolio

ieee488 wrote:You didn't post the ticker symbols for

Code: Select all

Vanguard Institutional Index Fund (.04%)
Vanguard Mid-Cap Index fund (.08%)
Vanguard Small-Cap Growth Index Fund (.08%)
Vanguard Small-Cap Value Index Fund (.08%)
but some combination of them will duplicate the Total Stock Market Index
Those in combination with the Vanguard Short-Term Bond Index
would be what I would choose for her current 401K.
I would too--IF they were offered in her current 401K, but they are not; they're in her old 401K. Unfortunately, the current 401k doesn't nearly as nice options.
by Minot
Wed Nov 19, 2014 2:46 pm
Forum: Personal Investments
Topic: Sanity check please
Replies: 3
Views: 731

Re: Sanity check please

Have you read the Wiki on tax-adjusted asset allocation?
by Minot
Thu Oct 30, 2014 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: That stress-relieving thing you do at work
Replies: 45
Views: 5215

Re: That stress-relieving thing you do at work

JupiterJones wrote:Mindfulness Meditation.
^This.
I've found this websitefrom UCLA's Mindful Awareness Research Center very useful.
by Minot
Tue Oct 14, 2014 7:07 pm
Forum: Personal Investments
Topic: Need dispensation to pay ROTH conversion taxes from tIRA
Replies: 25
Views: 1680

Re: Need dispensation to pay ROTH conversion taxes from tIRA

jimb_fromATL wrote:One reason for paying the taxes out of pocket is that it effectively lets you put more of your money into a tax-advantaged retirement plan than you'd otherwise have. But unless you have such a huge amount in your tax-deferred retirement plans that you'll be forced into a higher tax bracket when the RMDs start, I don't see much if any advantage in paying the taxes now.
OP wrote:This past year, DH retired and delayed Social Security so we are in the 15% tax rate. This is the only year we will be able to make a big conversion and stay under our typical higher rate.
by Minot
Wed Oct 08, 2014 11:37 pm
Forum: Personal Investments
Topic: Retiring early, but where dump 401k for yearly withdrawal?
Replies: 32
Views: 5853

Re: Retiring early, but where dump 401k for yearly withdrawa

RomeSobe wrote:
anonforthis wrote: Do you have a degree? If you get bored (after hanging out at the beach all day). You can get a part time job teaching English in the evening. It will be only a few hours but you will meet good people while making some money. You get pay more if you have a bachelor degree.
Yes, I have a Master's degree in Engineering.
Have any links or info on part time job teaching English..?
Google is your friend. teach english thailand pulled up lots; one useful looking site is at http://www.gooverseas.com/blog/teaching ... iland-tips
by Minot
Sun Oct 05, 2014 2:06 pm
Forum: Personal Investments
Topic: Roth conundrum
Replies: 13
Views: 2735

Re: Roth conundrum

dodecahedron wrote:At this point, it is not a big deal for me because I currently plan to have the assets invested identically. But I do hope to roll the Roth proceeds (only) out of the 403b into a Roth IRA prior to turning 70 1/2, so I don't have RMDs on the Roth balance. I hope that will be possible.
Another possible issue would be beneficiaries. I'd prefer to leave my Roth to my heir(s) and my Traditional to charities, since charities would end up with the full amount vs. heirs who would pay taxes on any withdrawals.
by Minot
Sat Oct 04, 2014 7:29 pm
Forum: Personal Consumer Issues
Topic: Critically Acclaimed Movies you did not like
Replies: 150
Views: 26005

Re: Critically Acclaimed Movies you did not like

Blue Jasmine
The Descendants
by Minot
Sat Oct 04, 2014 7:08 pm
Forum: Personal Investments
Topic: GF leaving advisor, help needed
Replies: 22
Views: 3444

Re: GF leaving advisor, help needed

2. Will VG rollover the two existing IRAs into 1 IRA?? What fees are involved in this transaction?? The new IRA would be valued at $240K. I think so, but you have to be very careful with transferring when things are more complicated. You might also find out if present 401k will accept old 401ks. That's an option if costs are low enough and/or there is matching. Shouldn't be any fees on the Vanguard side, but there will be fees on the old brokerage side. You have to pay to get your own money back. Paul Assuming this is a non-spousal Inherited IRA, sorry, no you can't combine them. Your Inherited IRA will be titled differently than your Rollover IRA; it will include the name of the person you inherited it from as well as yours. It will also ...
by Minot
Sat Oct 04, 2014 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 26909

Re: Is my husband a spendthrift? Or I a tightwad?

You might want to check out this Freakonmics podcast regarding teaching kids a foreign language. They basically think it's a waste of time and money. How often do you and your husband use that skill? http://freakonomics.com/2014/03/06/is-learning-a-foreign-language-really-worth-it-a-new-freakonomics-radio-podcast/ (Not ignoring others just picking a quick one to reply to since I'm sneaking the time) We have no data to back this up, but both of us felt like it exercised our brains a different way to learn/know two languages and gave us a different way to think about all kinds of things. So it's not the language per se, it is the act of learning it, and we have very little expectation that they will use it in real life or for professional re...
by Minot
Mon Sep 29, 2014 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: See both financial advisor and elder law lawyer for Mom?
Replies: 45
Views: 4774

Re: See both financial advisor and elder law lawyer for Mom?

I don't think I would feel good about ending up with the money my Mom gifted me or tucked away in a trust for me to inherit if it meant she spent the last few years of her life in a Medicaid facility. I really would prefer that she use that money to make those years better for herself.
by Minot
Sun Sep 28, 2014 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Those under 35 with a child 5 or under: Costs of child?
Replies: 58
Views: 8400

Re: Those under 35 with a child 5 or under: Costs of child?

Tyrobi wrote:
Anyway, the costs of children vary for each family. In our case, we sacrifice 6% of our annual income for the kids.
I assume this does not include the current loss of income for your SAHM wife, nor the possible (probable?) reduction in her future earning power due to time out of the market.
by Minot
Tue Sep 23, 2014 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Sale of a home between boyfriend and girlfriend.
Replies: 79
Views: 8637

Re: Sale of a home between boyfriend and girlfriend.

Just a quick update. First off thank you for all the responses, it has really helped her decide what to do. She listed the house today with a realtor for $360,000.00 and they paid $240,000.00 two years ago. I told her to make sure this listing price is in line with comp's in the area, so that he doesn't list the home at an unreasonable price just to get the listing. If they make a profit net of the fees, she will repay her mother first. She has decided that because he would've been renting all along, she is going to take his old rent of 1100.00 and deduct it from the monthly mortgage payment he was making, I believe she said the difference was approximately $400.00 She will multiply that by the number of payments he made and use that as a ...
by Minot
Sat Sep 20, 2014 4:32 pm
Forum: Personal Consumer Issues
Topic: How to arrange 1 or 2-month rentals?
Replies: 2
Views: 638

Re: How to arrange 1 or 2-month rentals?

Airbnb also has quite a few monthly rentals, such as this three bedroom house in the Vancouver area for $1400/month.
by Minot
Tue Sep 16, 2014 6:47 pm
Forum: Personal Investments
Topic: Allocation plan that hedges for potential large inheritence
Replies: 7
Views: 856

Re: Allocation plan that hedges for potential large inherite

I would move forward as though there is no inheritance. Because you don't know if there will be. My father's aunt was quite wealthy, widowed, and childless. She had my father and a handful of other nieces/nephews she was close to. My father never counted on getting anything but his aunt had told him more than once that her estate would be split among her surviving relatives. When his aunt got ill, a distant cousin nobody ever heard of moved in with her. The aunt died about a year later. The cousin didn't notify anyone until a few months later, when she sent the surviving relatives a letter (no phone call!) letting them know the aunt had died and the estate has been settled. Long story short, the cousin stole it all. Was she actually a cous...
by Minot
Mon Sep 15, 2014 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 12326

Re: Rental property with in-laws: please help!

OK, OP, you have lots to digest from the above posts. I will add a few more. 1. You stated above you and wife have NOT taken depreciation. a. If this is true, that is colossally unfortunate, because even if you have not taken it, the IRS will make you pay recapture tax at 25% on the depreciation you SHOULD have taken, thereby decreasing any loss you can write off when you sell this place (or alternatively, increasing taxable gain if you hold and sell for a gain). b. If this is true, your tax company has done a LOUSY job. Go back and demand they refile the last few years tax returns to include depreciation. * You need to look at your and wife's tax returns, Schedule E. Is row 18 $0.00? If so, sorry. If not, you have taken depreciation. 2. Y...
by Minot
Mon Sep 15, 2014 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 12326

Re: Rental property with in-laws: please help!

...I'm assuming their property management company that they own is deducting other items such as the cost of management and depreciation. Maybe they are using it to claim a loss, I don't know. You also assumed that the HELOC was used to fund the in-laws business, when in fact it was used to fund the down-payment on your wife's property. I hope you will find out what, if anything, your wife has been paying your in-laws' management company for managing her rental property, and how it compares to standard management fees in the area where the property is. You have imputed less-than-benevolent motives to your in-laws, but it turns out that the evidence may not support your judgment. The positive thing that can come out of all this is clarity a...
by Minot
Sun Sep 14, 2014 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited 403b - lump sum?
Replies: 16
Views: 1219

Re: Inherited 403b - lump sum?

2stepsbehind wrote:If she has sufficient taxable assets to pay her bills, why would you want to take the tax hit now?
OP said:
We are considering the lump sum distribution option on the 403b. Any income to declare as a result of the distribution would be offset by the large healthcare deductions. So we believe no tax would be due on the distribution.
Please note sentences in bold.
by Minot
Fri Sep 12, 2014 2:48 pm
Forum: Personal Consumer Issues
Topic: Great deal for new Costco members
Replies: 18
Views: 3959

Re: Great deal for new Costco members

FullYellowJacket wrote:DW really loves her toilet paper; she uses a couple rolls a week! :oops:

Why are you slapping yourself?
by Minot
Wed Sep 10, 2014 1:18 pm
Forum: Personal Investments
Topic: First post, Investment Questions
Replies: 31
Views: 2062

Re: First post, Investment Questions

Don Quixote wrote:... I can be a little more risky right now. Since this money isn't NEEDED, I feel like I can be risky. I got this money from a car accident. I hadn't planned on having this for retirement, so it's a bonus. Now I don't wish to be stupid with it, but I feel that because I got it without necessarily having planned on having it, that I can be less conservative.

Welcome to Bogelheads!

It might be a good idea to read the Managing a Windfall wiki. Especially the parts about taxes and making a plan.
by Minot
Fri Sep 05, 2014 7:38 pm
Forum: Personal Investments
Topic: Help! Need to Calculate Money Owed To Me
Replies: 32
Views: 7599

Re: Help! Need to Calculate Money Owed To Me

Thanks Neurosphere, I will come back and report how it all ends. My friend is a professor and is very absent-minded about things that most people could never forget. So it really is plausible that he really did forget about it. (I'm a professor too and even more absent-minded than he is. That's why I mistakenly put wrong information in my original posting. I thought I had copied the correct information, but I had copied gibberish. Both of my parents were very honorable people, and I grew up thinking that most people were like them. Of course, now I know that honesty is one of the rarest things in the world. But there are some people who are honest, and won’t steal or exploit even when they know they could get away with it. I’ve certainly l...
by Minot
Wed Sep 03, 2014 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Need good bank for 84y.o. ma who doesn't want online banking
Replies: 16
Views: 1459

Re: Need good bank for 84y.o. ma who doesn't want online ban

My Credit Union statement is quite clear and easy to understand, as is my CitiBank one. Both are free.
by Minot
Mon Sep 01, 2014 9:09 pm
Forum: Personal Investments
Topic: Hello new to the boards [If retirement funds not used up?]
Replies: 24
Views: 2696

Re: Hello new to the boards [If retirement funds not used up

sdsailing wrote:Are you by any chance quite young? Don't forget those numbers you have calculated probably do no account for inflation.
Or the possibility that for unforseen reasons you will not be able to continue saving as much, or that you might want to retire early, or that you might have a special needs child that you will want to provide for or, or, or....