Search found 500 matches

by prd1982
Thu May 13, 2021 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit
Replies: 311
Views: 24375

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Given how fluid the rules seem to be, I would plan on keeping my LTCi for 2 years in case they change the rules retroactively. You may be wasting 2 years of insurance, but the cost of being wrong is very expensive.
by prd1982
Wed May 12, 2021 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Bank error in my favor
Replies: 32
Views: 2871

Re: Bank error in my favor

I have notified them but it makes one wonder about Vanguard's accounting methods. I notified them by internal Vanguard email. Should I do anything else or just wait until the wheels turn? If they had only transferred 1/2 the amount expected, I'm betting you would call them. I'd suggest calling them...
by prd1982
Sun May 09, 2021 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance dilemma
Replies: 37
Views: 2776

Re: Long term care insurance dilemma

This forum has lots of threads with people on both sides of the “Should I buy LTC insurance?” But this thread is “Should I keep my LTC insurance?”. There is no going back to recover the premiums plus the gains from investing in the market over the years. She has paid thru the “unlikely to need” year...
by prd1982
Sun May 09, 2021 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance dilemma
Replies: 37
Views: 2776

Re: Long term care insurance dilemma

Is this the lawsuit in question? http://www.longtermcareinsurancesettlement.com/ https://pro.genworth.com/riiproweb/productinfo/pdf/655402.pdf?utm_source=producer&utm_medium=email&utm_campaign=bulletin&utm_content=weekly_bulletin Do I read the settlement correctly — * The policyholders ...
by prd1982
Sun May 09, 2021 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance dilemma
Replies: 37
Views: 2776

Re: Long term care insurance dilemma

She can afford this increase, of course. But how about the next one. This sums up how I feel. It's one of the many reasons I have so far passed on LTCi. I got a similar notice, minus the lawsuit comment, from Genworth a year ago. It also mentioned a large multi-step increase expected over the next ...
by prd1982
Sun May 09, 2021 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance dilemma
Replies: 37
Views: 2776

Re: Long term care insurance dilemma

Assuming she could afford the increase without impacting her lifestyle if it happened, I would continue paying. My assumption is that the policy has no max on the total amount or years it would pay out. This adds a lot to the cost and would be very expensive to buy today. I’m pretty sure getting a p...
by prd1982
Thu May 06, 2021 10:54 am
Forum: Personal Investments
Topic: Possible to voluntarily freeze account while away?
Replies: 9
Views: 970

Re: Possible to voluntarily freeze account while away?

I have my accounts set up to not allow disbursements and to not allow web access. I think for Vanguard I had to send them a letter for the disbursements and will have to have a medallion signature to turn it off. Getting a medallion signature may be a real problem. Many financial institutions don’t...
by prd1982
Thu May 06, 2021 8:59 am
Forum: Personal Consumer Issues
Topic: Recommendations for Umbrella Insurance?
Replies: 10
Views: 735

Re: Recommendations for Umbrella Insurance?

We live in CT, ages 74/69, with 2 boring SUVs and a home. No special hazards (e.g., swimming pool, high risk dog), and no prior claims. We just paid our 2021 premium of $753 for 1M of coverage. I'd be curious if other folks around our age in CT have similar costs.
by prd1982
Thu May 06, 2021 7:11 am
Forum: Personal Finance (Not Investing)
Topic: credit card for IRS "Get Transcript" authorization
Replies: 3
Views: 449

Re: credit card for IRS "Get Transcript" authorization

Thanks everyone. We did request the transcript by mail. Just not sure if this is fully automated or not. If not, I'm concerned it could be delayed by a month or more, similar to other IRS mail items.
by prd1982
Wed May 05, 2021 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: credit card for IRS "Get Transcript" authorization
Replies: 3
Views: 449

credit card for IRS "Get Transcript" authorization

I would like to get my great niece registered for the online IRS "Get Transcript" function. Authorization requires a credit card. Unfortunately, she only has a debit card. If she is made an authorized user of my credit card, will that satisfy the Experian lookup that the IRS performs? In a...
by prd1982
Mon May 03, 2021 8:06 am
Forum: Personal Finance (Not Investing)
Topic: How to pay taxes in this situation
Replies: 4
Views: 673

Re: How to pay taxes in this situation

If you only make 60k in wages, the k-1 distribution must be large to require 110% vs. 100%. My suggestion — When your income from last year is modest, try to withhold 100%/110% during the current year. This will eliminate the penalty for the high year. When last year was large, try to withhold what ...
by prd1982
Sun May 02, 2021 7:32 am
Forum: Personal Consumer Issues
Topic: Questions for New York Times Subscribers
Replies: 42
Views: 3347

Re: Questions for New York Times Subscribers

I continue to get the NYT, WaPo and local paper for the same reasons as others. I want a reasonable source of facts, and feel I can account for biases. I also read the Fox web site for their opinions to compare with the news papers. I get the WaPo and local paper online only. For the NYT I get paper...
by prd1982
Sat May 01, 2021 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit
Replies: 311
Views: 24375

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Forgive my observation/question; I'm on the east coast, not affected, but fascinated by this thread. As I understand this, WA passed a law for universal iLTC that charges upper income earners more than the plan is worth, while charging those at the lower end of income spectrum less than the plan is ...
by prd1982
Fri Apr 23, 2021 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Medallion signature guarantee
Replies: 89
Views: 6794

Re: Medallion signature guarantee

In addition to finding a financial institution, you need to know their dollar limit. For example, most credit unions are limited to transactions valued at less than 100K.
by prd1982
Wed Apr 21, 2021 8:38 pm
Forum: Personal Investments
Topic: Vanguard blocking SOME exchanges/sells, why?
Replies: 8
Views: 1625

Re: Vanguard blocking SOME exchanges/sells, why?

I’d call Vanguard and ask for the reason before suggesting your friend make any changes.
by prd1982
Wed Apr 14, 2021 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 492
Views: 34941

Re: "Nobody's ever regretted paying off the mortgage."

Paying off your mortgage may not be the best financial decision, but it won’t be the worst investment decision you make.
by prd1982
Tue Apr 13, 2021 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: How would you handle this? -- big utility company problem!
Replies: 68
Views: 4979

Re: How would you handle this? -- big utility company problem!

Do your neighbors in the attached house know about the mixup? They are in for a real shock.
by prd1982
Mon Apr 12, 2021 4:15 pm
Forum: Personal Investments
Topic: american funds cost basis accounting
Replies: 9
Views: 651

Re: american funds cost basis accounting

My suggestion, assuming American Funds will sell the non-covered shares first if you don't specify which shares to sell: * Determine the cost-basis for the non-covered shares by adding the initial purchase price (5K), and all the reinvested dividends and capital gains through the end of 2011. * Divi...
by prd1982
Mon Apr 12, 2021 12:59 pm
Forum: Personal Investments
Topic: american funds cost basis accounting
Replies: 9
Views: 651

Re: american funds cost basis accounting

When I sold some TR Price shares using avg cost, they sold the non-covered shares first. Only when the non-covered got to 0 did they sell the covered shares. So if you sell non-specific shares, don’t be surprised in your oldest are sold first. These are likely to be the shares with the most capital ...
by prd1982
Sun Apr 11, 2021 7:55 pm
Forum: Personal Investments
Topic: Required minimum distributions: All to QCDs vs. ROTH conversions
Replies: 7
Views: 718

Re: Required minimum distributions: All to QCDs vs. ROTH conversions

If you plan on doing a QCD of the entire RMD, don’t do a Roth.
by prd1982
Sat Apr 10, 2021 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Paper return - did you receive your 2020 refund?
Replies: 16
Views: 1251

Re: Paper return - did you receive your 2020 refund?

Some of us had to go snail mail route due to a reason beyond our control. Creating this to keep the hope alive, one day the snail will WIN the race :happy I also had to submit paper for a relative. Forget winning. Just looking forward to finishing. We can’t close the estate until we get the refund ...
by prd1982
Sat Apr 10, 2021 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB
Replies: 154
Views: 11437

Re: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB

This is not a “time Bomb” or “tax torpedo”. It is simply the possibility to have some of your income taxed at a higher bracket. Most people in this country would love this problem. The title seems aimed at those people who consider taxes a sin.
by prd1982
Thu Apr 08, 2021 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Questions for 10+ year retirees
Replies: 21
Views: 2978

Re: Questions for 10+ year retirees

I've only been retired a little over 9 years. But since you haven't had a lot of replies: * Excluding income tax, charity and gifts, our spending has dropped approximately 2.5% a year in inflation-adjusted (real) terms. * Our non-COLA pension accounted for 1/3rd of our spending when I retired. We ha...
by prd1982
Fri Apr 02, 2021 3:35 pm
Forum: Personal Investments
Topic: American Funds 401K Wife new Job
Replies: 15
Views: 799

Re: American Funds 401K Wife new Job

ruralavalon wrote: Fri Apr 02, 2021 3:27 pm Her company might want to consider a different plan provider.
As a new employee, I would not bring this up.
by prd1982
Fri Apr 02, 2021 3:33 pm
Forum: Personal Investments
Topic: American Funds 401K Wife new Job
Replies: 15
Views: 799

Re: American Funds 401K Wife new Job

I suspect the high expense ratios are because: * small number of users with small balances * company is having the participants to pay all/most the cost of running the plan * these are actively mananged funds. Even if index funds, the expense ratios would be higher than directly investing in a taxab...
by prd1982
Fri Apr 02, 2021 2:18 pm
Forum: Personal Investments
Topic: High expense ratio vs. high tax consequences?
Replies: 19
Views: 1467

Re: High expense ratio vs. high tax consequences?

You first need to look up the cost basis of your holdings. You only owe taxes on the difference. Your yearly dividends & capital gains have been used to buy more shares. The cost of the new shares have been added to your basis. I suspect you will owe a lot less than you think. At a minimum, turn...
by prd1982
Wed Mar 31, 2021 4:40 pm
Forum: Investing - Theory, News & General
Topic: For those using a Roth IRA since the beginning (1998?), what's your balance? (Come on, we're anonymous)
Replies: 68
Views: 6520

Re: For those using a Roth IRA since the beginning (1998?), what's your balance? (Come on, we're anonymous)

illumination wrote: Wed Mar 31, 2021 4:32 pm I agree, if anything it probably resulted in him [Mitt] paying more taxes.
Don't bet on it. He is a big donor to his church. Think QCDs & beneficiary. I'm pretty sure Mitt understood the tax rules for IRAs.
by prd1982
Tue Mar 30, 2021 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: 1041 allocation of income between beneficiaries and estate
Replies: 2
Views: 255

Re: 1041 allocation of income between beneficiaries and estate

MarkNYC,

Thanks for the info. Doing by hand reminds me why I love the H&R Block program. But this estate is too small to justify buying a tax program or hiring a tax preparer.
by prd1982
Tue Mar 30, 2021 1:53 pm
Forum: Personal Consumer Issues
Topic: Battery operated garden tools
Replies: 21
Views: 3242

Re: Battery operated garden tools

jpelder wrote: Tue Mar 30, 2021 10:34 am
Of course, with your mower being a Honda, it will probably outlive us all!
It’s already 10+ years. I’m mainly looking because of the noise. With so many folks working from home these days, I feel guilty running the mower while they are trying to use Zoom.
by prd1982
Mon Mar 29, 2021 3:56 pm
Forum: Personal Consumer Issues
Topic: Battery operated garden tools
Replies: 21
Views: 3242

Re: Battery operated garden tools

I'm waiting to see Consumer Reports publish their real 2021 review of lawn mowers. Their current review is really for 2020 models. In particular, I'm hoping they test the new Ryobi XP Dual Blade model, which is designed to complete with the EGO dual blade model. I'm still not sure I want to replace ...
by prd1982
Mon Mar 29, 2021 2:10 pm
Forum: Investing - Theory, News & General
Topic: 2021 RMDs - anything new?
Replies: 5
Views: 677

Re: 2021 RMDs - anything new?

Nothing new for her in 2021. In 2022, RMDs use new tables which reduce the amount that must be withdrawn each year. Thank you. Do the new tables apply to everyone, including those who have been taking RMDs for some time (e.g. my 80+ year old relative)? cj Apply to everyone. Note: I assumed we are t...
by prd1982
Mon Mar 29, 2021 1:26 pm
Forum: Investing - Theory, News & General
Topic: 2021 RMDs - anything new?
Replies: 5
Views: 677

Re: 2021 RMDs - anything new?

Nothing new for her in 2021. In 2022, RMDs use new tables which reduce the amount that must be withdrawn each year.
by prd1982
Sun Mar 28, 2021 10:30 am
Forum: Personal Finance (Not Investing)
Topic: 1041 allocation of income between beneficiaries and estate
Replies: 2
Views: 255

1041 allocation of income between beneficiaries and estate

I'm just getting an idea of what the 1041 I must file for 2021 (in 2022) will look like. This is the final 1041 to file. The estate had a small amount of dividends and capital gains. I filled out the forms with the beneficiaries getting all of the income. This got me to like 23, taxable income, of m...
by prd1982
Tue Mar 23, 2021 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: JTWRS Problems - what are my options?
Replies: 136
Views: 10680

Re: JTWRS Nightmare - what are my options?

Right, that's why I explained why I don't think it is a crime (or immoral) and why I don't think the relative does own 50% of the account. And the 2nd owner could say that he gave the OP half the money to invest. How are you going to prove that is is false? The courts would say they were joint owne...
by prd1982
Tue Mar 23, 2021 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: JTWRS Problems - what are my options?
Replies: 136
Views: 10680

Re: JTWRS Nightmare - what are my options?

I would establish an account in my name only at the same company, link the accounts in your online access and then transfer 100% of the balance into the newly established account. No. If the money transferred, and it probably will not, it would be illegal. Now you are opening yourself up for being ...
by prd1982
Tue Mar 23, 2021 8:10 am
Forum: Personal Consumer Issues
Topic: Overthinking my Lawnmower Purchase (Push vs. Riding)
Replies: 56
Views: 3042

Re: Overthinking my Lawnmower Purchase (Push vs. Riding)

Personally, I’d stick with the Honda self-propelled. You still have to do the trimming, and perhaps use the Honda to cut the edges. Also, if you use a non-zero turn, it will probably take longer to cut. You sound like it is the time, rather than the work, that is your concern. The lawn tractor will ...
by prd1982
Mon Mar 22, 2021 11:30 am
Forum: Personal Consumer Issues
Topic: How much are your monthly total subscriptions?
Replies: 37
Views: 1698

Re: How much are your monthly total subscriptions?

Think you are going about this the wrong way. What type of subscription(s) do you want? For example, we get Netflix, Pandora and the NYTimes. We love them all, but for different purposes. We spend about $1,500/yr on all our subscriptions.
by prd1982
Sun Mar 21, 2021 1:22 pm
Forum: Personal Investments
Topic: Changing Ed Jones to Vanguard
Replies: 16
Views: 2134

Re: Changing Ed Jones MFs to Vanguard

I don’t know if a difference between selling at EJ or VG. But assuming about the same, I would move everything to VG that can be moved. VG can tell if any must be sold. Make sure you get screen shots of the cost basis before the move.if you can get by lot, that’s even better. The cost basis should m...
by prd1982
Sun Mar 21, 2021 10:35 am
Forum: Personal Finance (Not Investing)
Topic: The wash sale rules can't possibly be THIS antagonistic
Replies: 140
Views: 10687

Re: The wash sale rules can't possibly be THIS antagonistic

To get back on topic — So how do you folks holding the same funds in taxable & ira handle this? Do you send dividends to the settlement accounts and then make periodic purchases when you are not expecting to TLH? Or do you use different, but similar funds such as Totak US market & SP500? Or ...
by prd1982
Sun Mar 21, 2021 9:50 am
Forum: Personal Finance (Not Investing)
Topic: The wash sale rules can't possibly be THIS antagonistic
Replies: 140
Views: 10687

Re: The wash sale rules can't possibly be THIS antagonistic

Another very practical reason is that original cost of a decedent's assets are often unknown. How many posts have you seen on this forum by living individuals who don't know the basis of their holdings? I don't disagree. But the real fix was to require the company holding the investments to track t...
by prd1982
Sun Mar 21, 2021 7:41 am
Forum: Personal Consumer Issues
Topic: Vanguard ads on their site--can they be stopped?
Replies: 16
Views: 1677

Re: Vanguard ads on their site--can they be stopped?

If you consider the VG site as having too many ads, then you must really hate using the internet. I had to log on since I don't remember a lot of ads (esp. pop-ups). What I saw: * The pre-logon page was full of ads. But that's what I would expect. I went right to the logon boxes, which were easy to ...
by prd1982
Fri Mar 19, 2021 9:49 am
Forum: Investing - Theory, News & General
Topic: cFIREsim has been revised and is super easy to use.
Replies: 193
Views: 17617

Re: Cfiresim has been revised and is super easy to use.

That would be my suggestion. Hopefully others will weigh in with their opinions.
by prd1982
Fri Mar 19, 2021 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Income gone up, IRMAA should go up, do I tell Medicare?
Replies: 14
Views: 1595

Re: Income gone up, IRMAA should go up, do I tell Medicare?

There is no need to tell Medicare. Your 2021 income increase will cause an increased IRMAA in 2023. There is no need to appeal it either. Your request would be rejected. Your one year income increase will result in a one year IRMAA increase.
by prd1982
Fri Mar 19, 2021 8:13 am
Forum: Investing - Theory, News & General
Topic: cFIREsim has been revised and is super easy to use.
Replies: 193
Views: 17617

Re: Cfiresim has been revised and is super easy to use.

I would like to suggest adding the final portfolio amts at the 5% & 10% levels. I would also consider showing them in descending order: worst, 5% 10%, median, average, highest. When it comes to retirement projections, I think it pays to focus on reasonably likely bad outcomes.
by prd1982
Thu Mar 18, 2021 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block - software issue
Replies: 10
Views: 549

Re: H&R Block - software issue

Did you go to forms, and look at the 1099 entries, including hidden? Be sure to look at all copies (drop down)
by prd1982
Thu Mar 18, 2021 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Tax Return - Incorrect Banking Info. What do I do?
Replies: 7
Views: 421

Re: Tax Return - Incorrect Banking Info. What do I do?

Did you check your refund status on the IRS site? It should at least show that the IRS tried to send you a refund. Perhaps it tells you that the ACH was rejected.
by prd1982
Thu Mar 18, 2021 9:24 am
Forum: Personal Investments
Topic: Age disparity, what account to spend down first in retirement?
Replies: 10
Views: 1292

Re: Age disparity, what account to spend down first?

lakpr wrote: Thu Mar 18, 2021 8:54 am Given that there is a rather large age difference of 11 years between the two spouses, ...
Actually, the life expectancy difference is less than the more common "male is 5 years older" scenario. The only difference is that the female is statically more likely to die first.
by prd1982
Wed Mar 17, 2021 5:24 pm
Forum: Personal Investments
Topic: Advice on IncomeSolver.com
Replies: 9
Views: 941

Re: Advice on IncomeSolver.com

This appears to be software that financial advisors, not individuals, rent. I'm assuming your financial advisor rents it. Now, it is useful? No idea. But I suspect it is over-complicating the process. I'm assuming you have a couple of sources for income: * Social Security. Here the only decision is ...