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FIREchief

One of the books I read said that if everything went wrong (months-long hospital stays, most expensive drugs possible, etc. for a couple of decades) that one could spend $900,000 over a lifetime on Medicare. I know it's just a theoretical number but it is still concerning. I would be more concerned...

FIREchief

JakeyLee wrote: ↑Sat Apr 17, 2021 11:40 am I recently retired with a pension and 7 figures in what’s now a traditional IRA (rolled over my 403b/457).

With a pension and "7 figures," do you expect to ultimately leave behind a meaningful inheritance for your heirs?

FIREchief

What I am saying is in metro areas there should be no problem having access to good specialists at all. Networks might be problematic in non-metro-areas. What you are doing is stating YOUR experiences. What I am doing is stating MY experiences. If that is considered extrapolating, then I believe we...

FIREchief

What I am saying is in metro areas there should be no problem having access to good specialists at all. Networks might be problematic in non-metro-areas. In Miami Dade county, IIRC the penetration of MA plans is 35% plus, I think that few specialists could ignore MA insurance clients. Again, you se...

FIREchief

Given the penetration of Medicare Advantage plans in various locations, especially in metro areas, there is zero issues with obtaining well regarded specialists. DW had an MRI last week for some back issues, she was in PT Wednesday. Her PT person is the one she used for both her knee replacements. ...

FIREchief

Mel Lindauer wrote: ↑Fri Apr 16, 2021 12:32 am Not sure why folks would buy TIPS with their current negative yields when the current I Bonds have a 0% fixed rate.

My fixed income is all in my tIRA. If you can tell me how to buy I bonds within the tIRA I will gladly embrace your guidance.

FIREchief

oxothuk wrote: ↑Fri Apr 16, 2021 3:31 pm Personally, I don’t understand the excitement many people have about “specialists”. Maybe that’s a cult.

Until you need a really good one who isn't "in network."

FIREchief

My understanding is that the IRA->HSA rollover takes the place of your contribution. There is nothing fancy about this. You could just withdrawal from the IRA and make an HSA contribution.. and the net on your taxes should be the same (in most cases) Note the bold, above. " The distribution [i...

FIREchief

Husband and I had Medicare Advantage plans that worked fine, till they didn't. As of January, I switched to a Medicare Supplement plan. There's a premium every month, but I can go anywhere that takes Medicare, which is primary, and the MS plan picks up the residual. No authorization required! I bro...

FIREchief

My understanding is that the IRA->HSA rollover takes the place of your contribution. There is nothing fancy about this. You could just withdrawal from the IRA and make an HSA contribution.. and the net on your taxes should be the same (in most cases) Note the bold, above. " The distribution [i...

FIREchief

So there's 60 stock holders and 59 just hold their shares. Majority share holder sells a single share to his wife for 100 times a "fair" value. Does that reset the market cap to 100 times what it is really worth?

FIREchief

Sadly, I can only dream... Home prices today are rocketing off, blasting off the 0's and 1's in my brokerage account. At this rate, I'll never be able to afford a home in my area. Just look back 13 years and people were saying the exact same thing. Next thing you know....houses were selling for 50 ...

FIREchief

VTI is now up 11.6% on the year.

Kind of takes the "sting" out of the slightly negative real returns my TIPS are paying.

(I'm 100% US TMI and TIPS)

FIREchief

One interesting legal theory I've encountered is that if you want to rid your heirs of the hassle of inheriting a timeshare is to leave that property in your will directly back to the timeshare company. That is hilarious!!! Thanks for sharing that. :beer Of course, I'm guessing that makes the times...

FIREchief

"It sells for $1 on ebay" isn't likely to be a great sales pitch during these high pressure sales pitch their suckers/customers sit thru to get a free show/gift card/free stay/etc. It's not just the show tickets, VISA gift cards, match play in the casino and free lunch. It's also a specia...

FIREchief

Those ‘get rid of your timeshare’ radio advertisements seem to indicate that the problem can pass on to one’s heirs. I wonder if that is generally true. I'm guessing more of a problem for an executor, if a timeshare claims that the estate has unfulfilled financial obligations. I would like to hear ...

FIREchief

"It sells for $1 on ebay" isn't likely to be a great sales pitch during these high pressure sales pitch their suckers/customers sit thru to get a free show/gift card/free stay/etc. It's not just the show tickets, VISA gift cards, match play in the casino and free lunch. It's also a specia...

FIREchief

Finding out about the loss of the capital gains exclusion cemented the rejection of doing an irrevocable trust. If the trustee buys the house from the Grantors, does it receive a step up in basis and a capital gains exclusion? edit: You mean if the child/beneficiary buys the house from the grantors...

FIREchief

Flashes1 wrote: ↑Wed Apr 14, 2021 11:56 am They got out of the contract when the property was wiped out by a hurricane a couple years ago and it wasn't insured.

Hah! There is another way (other than death and bankruptcy) to get out of a timeshare.

FIREchief

rcjchicity wrote: ↑Wed Apr 14, 2021 8:06 am Finding out about the loss of the capital gains exclusion cemented the rejection of doing an irrevocable trust.

If the trustee buys the house from the Grantors, does it receive a step up in basis and a capital gains exclusion?

FIREchief

manuvns wrote: ↑Tue Apr 13, 2021 5:42 pm is it a good time to buy TIP or maybe just sell put on it and buy my lattes?

That's the wrong question. TIPS holders don't care about inflation. It's the buyers of nominal bonds who should be asking the question "is it a good time to buy?"

FIREchief

I have a friend who bought a Time Share for $25,000 & it cost them $1,500 in annual costs. They don't use it and want to dispose of it, even to the point of surrendering it for a tax loss? Can anyone help me with the best way to go about trying to sell it? First, just be GLAD that it was a frie...

FIREchief

It's the right place in the right community and we have no intention of ever moving again. Yep, that's what we said for 20+ years. :P I can't imagine packing up to move somewhere else now. If you don't have a lot of stuff, this isn't too bad. If you do have a lot of stuff, it's very likely time to ...

FIREchief

We sold the family home of 20+ years two years ago. Haven't missed it for a moment. It's your family that has meaning, not a roof that was over their heads and is either now leaking or will be soon.

FIREchief

What is a digital asset? Digital Assets is content that resides in your digital devices like Cellphone Tablets Computers Cloud accounts like email, social media, memberships etc. Digital Heir / Digital Legacy is how you pass access and ownership of the digital assets I don't understand why tablets/...

FIREchief

What is a digital asset? +1. It would really help if you told us what you meant by "digital assets." You mention only the iphone, which a person could just let potential heirs know their passcode and Apple login credentials. In my case, I really don't know of anything on my iphone that wo...

FIREchief

You may wish to consider leaving most of the 401k where it is if your state does not offer ERISA level protections (i.e. 100% protection from all but the IRS and a divorcing spouse) for IRA assets. If it does (and any future states you may move to do as well), than I would just roll it all over to ...

FIREchief

This really is a quirky area. We all do things for our kids and grandkids. Where do you draw the line? I've taken my son and DIL on a luxury cruise. Is that a gift? If so, it was a gift to my wife and I because we enjoyed their company. It gave us a chance to spend time together that we otherwise w...

FIREchief

Does "gift" imply that there are no strings attached and the recipient has complete say over how to spend the money? What if a family member loses a job and for a while you are helping to pay their rent, health insurance or other such expenses. Are those considered gifts? Does it matter i...

FIREchief

You may wish to consider leaving most of the 401k where it is if your state does not offer ERISA level protections (i.e. 100% protection from all but the IRS and a divorcing spouse) for IRA assets. If it does (and any future states you may move to do as well), than I would just roll it all over to a...

FIREchief

Not the opposite. I in no way suggested that it wasn't a family member trustee. Just that it was a greedy :moneybag trustee who would rather keep the trust balance (and their annual AUM compensation) up, Up, UP! That's fair. A trustee with an AUM does have incentive to not distribute principal. How...

FIREchief

I’ll go out on a limb and speculate that this trustee is paid an annual fee based upon AUM. I'll take the opposite bet and say this is a family member trustee. A corporate trustee should be well versed in HEMS. Not the opposite. I in no way suggested that it wasn't a family member trustee. Just tha...

FIREchief

I’ll go out on a limb and speculate that this trustee is paid an annual fee based upon AUM. I'll take the opposite bet and say this is a family member trustee. A corporate trustee should be well versed in HEMS. That’s right, family member trustee paid on an annual fee based on AUM. Sadly, this shou...

FIREchief

I’ll go out on a limb and speculate that this trustee is paid an annual fee based upon AUM.

FIREchief

I did most of mine on Jan 4. Same as every year.

FIREchief

UpperNwGuy wrote: ↑Thu Apr 08, 2021 1:58 pm Yes, Fidelity has a better website, but Vanguard has better funds. Which do you consider to be more important?

So why not just invest in Vanguard funds within a Fidelity brokerage account?

FIREchief

I used the IRS web site https://www.irs.gov/individuals/get-transcript to look at my 2019 tax return. Why do you even want to look at a filed return? Don’t you save a paper or digital copy? You know they received it since they cashed your check. +1 A cancelled check and a certified mail receipt pro...

FIREchief

BogleBuddy12 wrote: ↑Tue Apr 06, 2021 1:52 pm It’s my understanding that TIPS are not as popular as they once were.

Well, it's my understanding that some Bogleheads hold 100% of their fixed income in TIPS and....sleep well at night!

FIREchief

Does the Health Equity HSA impose a fee for each partial withdrawal/transfer?

FIREchief

Zero. If you take advantage of the opportunity, than the money will come later. At some Megacorps, the only real perk of moving into an entry level management position is that you will then be in the running for the "real" management positions. Do you have a background in HR? :D Only to t...

FIREchief

Zero. If you take advantage of the opportunity, than the money will come later. At some Megacorps, the only real perk of moving into an entry level management position is that you will then be in the running for the "real" management positions.

FIREchief

What is a "gift contract?"

FIREchief

I would just file 1040-x as often as needed, keep good records, and let the IRS sort things out.

FIREchief

I like it how the IRS will automatically extend me a 3% loan if my estimated tax payments are a bit short. Kind of takes all the pressure off.

FIREchief

I'm still unclear as to why the CRUT is being pitted against an accumulation trust. They have diametrically opposed goals and uses. The stretch? Seriously Lee, the reason we're talking about CRUTs so much now is that for somebody leaving a large tIRA balance to heirs, in many cases it can greatly m...

FIREchief

If stated in the trust, is that written as an amendment as some variation on an IPS Investment Policy Statement? It would be a clause stating something like distribute the IRA in equal installments over the required distribution period. But imo the better clause is to instruct the trustee to distri...

FIREchief

I'm still unclear as to why the CRUT is being pitted against an accumulation trust. They have diametrically opposed goals and uses. The stretch? Seriously Lee, the reason we're talking about CRUTs so much now is that for somebody leaving a large tIRA balance to heirs, in many cases it can greatly m...

FIREchief

For those working past 72, starting SS at 70 and RMDs at 72, Roth conversions don't seem to work to save income taxes. They might work to save estate taxes. We're talking about tax advantages when left to a trust post-SECURE act. There are huge advantages in this scenario of the Grantor aggressivel...

FIREchief

What stretch? Any non eligible designated beneficiary will have the same ten years whether left in trust or outright. The CRUT is not a stretch. It's the best replication of the stretch currently widely used. Doesn't a CRUT effectively stretch the payouts beyond ten years? Yes, but it's closer to p...

FIREchief

This makes no sense. If they don't need the income, why bother? The alternatives likewise do not follow. Just leave it directly and save the startup costs And lose the stretch? What stretch? Any non eligible designated beneficiary will have the same ten years whether left in trust or outright. The ...

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