Search found 6538 matches

by FIREchief
Sat Apr 17, 2021 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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...
by FIREchief
Sat Apr 17, 2021 1:33 pm
Forum: Personal Investments
Topic: Roth Conversians in Retirement
Replies: 12
Views: 689

Re: Roth Conversians in Retirement

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?
by FIREchief
Sat Apr 17, 2021 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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...
by FIREchief
Fri Apr 16, 2021 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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...
by FIREchief
Fri Apr 16, 2021 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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. ...
by FIREchief
Fri Apr 16, 2021 4:19 pm
Forum: Personal Investments
Topic: Why Buy TIPS Bonds Now?
Replies: 36
Views: 3679

Re: Why Buy TIPS Bonds Now?

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. 8-)
by FIREchief
Fri Apr 16, 2021 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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." :shock:
by FIREchief
Fri Apr 16, 2021 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Before Medicare begins: Use your HSA tax free funding distribution
Replies: 13
Views: 1197

Re: Before Medicare begins: Use your HSA tax free funding distribution

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...
by FIREchief
Fri Apr 16, 2021 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 81
Views: 4606

Re: Medicare Advantage - What's the Deal?

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...
by FIREchief
Fri Apr 16, 2021 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Before Medicare begins: Use your HSA tax free funding distribution
Replies: 13
Views: 1197

Re: Before Medicare begins: Use your HSA tax free funding distribution

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...
by FIREchief
Thu Apr 15, 2021 5:41 pm
Forum: Investing - Theory, News & General
Topic: There’s a single New Jersey deli doing $35,000 in sales valued at $100 million in the stock market
Replies: 58
Views: 5752

Re: There’s a single New Jersey deli doing $35,000 in sales valued at $100 million in the stock market

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?
by FIREchief
Thu Apr 15, 2021 5:34 pm
Forum: Personal Investments
Topic: Do margin loans generally not show up on credit reports?
Replies: 17
Views: 1286

Re: Do margin loans generally not show up on credit reports?

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 ...
by FIREchief
Thu Apr 15, 2021 1:47 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 14612
Views: 1122015

Re: U.S. stocks continue to soar!

VTI is now up 11.6% on the year. :oops: 8-) :beer

Kind of takes the "sting" out of the slightly negative real returns my TIPS are paying. :P (I'm 100% US TMI and TIPS)
by FIREchief
Thu Apr 15, 2021 1:04 am
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

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...
by FIREchief
Thu Apr 15, 2021 12:59 am
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

"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...
by FIREchief
Wed Apr 14, 2021 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

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 ...
by FIREchief
Wed Apr 14, 2021 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

"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...
by FIREchief
Wed Apr 14, 2021 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trust proposed for parent with early dementia
Replies: 18
Views: 2071

Re: Irrevocable trust proposed for parent with early dementia

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...
by FIREchief
Wed Apr 14, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

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. :P
by FIREchief
Wed Apr 14, 2021 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trust proposed for parent with early dementia
Replies: 18
Views: 2071

Re: Irrevocable trust proposed for parent with early dementia

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?
by FIREchief
Wed Apr 14, 2021 3:24 pm
Forum: Investing - Theory, News & General
Topic: Watch out for inflation numbers
Replies: 49
Views: 5015

Re: Watch out for inflation numbers

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?" 8-)
by FIREchief
Tue Apr 13, 2021 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a Time Share
Replies: 40
Views: 3497

Re: Selling a Time Share

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...
by FIREchief
Tue Apr 13, 2021 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: walking the last mile - selling our family home
Replies: 12
Views: 1853

Re: walking the last mile - selling our family home

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 ...
by FIREchief
Tue Apr 13, 2021 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: walking the last mile - selling our family home
Replies: 12
Views: 1853

Re: walking the last mile - selling our family home

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.
by FIREchief
Mon Apr 12, 2021 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy for passing your Digital Assets upon your death?
Replies: 30
Views: 1752

Re: Strategy for passing your Digital Assets upon your death?

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/...
by FIREchief
Mon Apr 12, 2021 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy for passing your Digital Assets upon your death?
Replies: 30
Views: 1752

Re: Strategy for passing your Digital Assets upon your death?

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...
by FIREchief
Sun Apr 11, 2021 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Broker 3rd degree over every retirement withdrawal?
Replies: 61
Views: 7133

Re: Broker 3rd degree over every retirement withdrawal?

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 ...
by FIREchief
Sun Apr 11, 2021 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Tax form 709
Replies: 13
Views: 792

Re: Gift Tax form 709

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...
by FIREchief
Sat Apr 10, 2021 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Tax form 709
Replies: 13
Views: 792

Re: Gift Tax form 709

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...
by FIREchief
Sat Apr 10, 2021 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Broker 3rd degree over every retirement withdrawal?
Replies: 61
Views: 7133

Re: Broker 3rd degree over every retirement withdrawal?

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...
by FIREchief
Sat Apr 10, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: How do you define health, education, maintenance and support with a trust?
Replies: 18
Views: 1269

Re: How do you define health, education, maintenance and support with a trust?

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...
by FIREchief
Sat Apr 10, 2021 1:39 am
Forum: Personal Finance (Not Investing)
Topic: How do you define health, education, maintenance and support with a trust?
Replies: 18
Views: 1269

Re: How do you define health, education, maintenance and support with a trust?

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...
by FIREchief
Sat Apr 10, 2021 1:36 am
Forum: Personal Finance (Not Investing)
Topic: How do you define health, education, maintenance and support with a trust?
Replies: 18
Views: 1269

Re: How do you define health, education, maintenance and support with a trust?

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...
by FIREchief
Fri Apr 09, 2021 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: How do you define health, education, maintenance and support with a trust?
Replies: 18
Views: 1269

Re: How do you define health, education, maintenance and support with a trust?

I’ll go out on a limb and speculate that this trustee is paid an annual fee based upon AUM.
by FIREchief
Thu Apr 08, 2021 10:35 pm
Forum: Personal Investments
Topic: Delay doing Roth conversions in crazy high market?
Replies: 8
Views: 1173

Re: Delay doing Roth conversions in crazy high market?

I did most of mine on Jan 4. Same as every year.
by FIREchief
Thu Apr 08, 2021 3:03 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Website
Replies: 76
Views: 6230

Re: Vanguard Website

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? :confused
by FIREchief
Thu Apr 08, 2021 11:34 am
Forum: Personal Finance (Not Investing)
Topic: IRS 2019 tax return not yet processed - Weird??
Replies: 13
Views: 840

Re: IRS 2019 tax return not yet processed - Weird??

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...
by FIREchief
Thu Apr 08, 2021 12:10 am
Forum: Investing - Theory, News & General
Topic: “Bogleheads’ Guide To Investing” Portfolios - 50% in TIPS?
Replies: 25
Views: 3029

Re: Bogleheads’ Guide To Investing - Sample Portfolios

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! 8-)
by FIREchief
Tue Apr 06, 2021 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: What is the expected percentage (raise) for a manager position?
Replies: 24
Views: 2270

Re: What is the expected percentage (raise) for a manager position?

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...
by FIREchief
Tue Apr 06, 2021 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: What is the expected percentage (raise) for a manager position?
Replies: 24
Views: 2270

Re: What is the expected percentage (raise) for a manager position?

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.
by FIREchief
Mon Apr 05, 2021 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Amending an amended tax return
Replies: 3
Views: 334

Re: Amending an amended tax return

I would just file 1040-x as often as needed, keep good records, and let the IRS sort things out.
by FIREchief
Mon Apr 05, 2021 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Harbor - Do Estimated Tax Payments Count?
Replies: 10
Views: 1185

Re: Safe Harbor - Do Estimated Tax Payments Count?

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. 8-)
by FIREchief
Sun Apr 04, 2021 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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...
by FIREchief
Sun Apr 04, 2021 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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...
by FIREchief
Sun Apr 04, 2021 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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...
by FIREchief
Sat Apr 03, 2021 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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...
by FIREchief
Sat Apr 03, 2021 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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...
by FIREchief
Sat Apr 03, 2021 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8597

Re: Secure Act and trusts

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 ...