Search found 2389 matches

by Luckywon
Tue Mar 12, 2024 12:25 am
Forum: Personal Finance (Not Investing)
Topic: Schwab "joint account" vs. community property
Replies: 16
Views: 3898

Re: Schwab "joint account" vs. community property

Reopening this thread.... wondering if anyone found a resolution to this? Seems odd that they would allow a brokerage account to have CPWROS, but not a brokerage account with a checking account attached. Is there a workaround? Or are people just doing their checking account elsewhere? Re-reopening this... The solution that I was given was to change the accounts to JTWROS. All this required was uploading a signed note requesting the change with the account numbers. One thing to consider is that based on conversations I have had with Schwab and Etrade, it is straightforward to get the brokerage to record a full step up in basis in community property states upon the death of either spouse when accounts are titled either JTWROS or community pr...
by Luckywon
Tue Mar 05, 2024 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

For those of you using Fidelity (Fullview or Planning), is there a way to download transaction data? To me, getting the data into a spreadsheet at tax time is important. In Mint, I used to do that at year-end, after dutifully marking the "tax-related" transactions during the year. Now I'm using Tiller and liking it. Fidelity displays the transactions nicely, but I haven't seen a way to download them. Under tab "spending" then "transactions" there is a download icon toward top right. Also under tab "investments" then "transactions" there is an "Export Results" tab toward the top left. Thanks, Luckywon! You're welcome. I am using Full View after trying Simplifi and Monarch and findi...
by Luckywon
Tue Mar 05, 2024 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

Uncle Morris wrote: Thu Feb 29, 2024 6:45 pm For those of you using Fidelity (Fullview or Planning), is there a way to download transaction data?

To me, getting the data into a spreadsheet at tax time is important. In Mint, I used to do that at year-end, after dutifully marking the "tax-related" transactions during the year. Now I'm using Tiller and liking it. Fidelity displays the transactions nicely, but I haven't seen a way to download them.
Under tab "spending" then "transactions" there is a download icon toward top right.

Also under tab "investments" then "transactions" there is an "Export Results" tab toward the top left.
by Luckywon
Mon Mar 04, 2024 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Does healthcare remain a significant concern for retirement before 65, even with a well-planned budget?
Replies: 66
Views: 6333

Re: Even with a well-planned budget, does healthcare remain a significant concern for retirement before 65?

Instead, I want to gain more clarity when making the decision of whether to retire before 60 and rely on an ACA plan as a reasonable and adequate insurance, or to prolong my career until 65 (or perhaps 63 1/2, with 18 months of COBRA coverage) to maintain access to my employer's plan. If you are in California, you may be eligible for 36 months of COBRA, i.e. 18 months of federal COBRA and 18 months of Cal-COBRA. The below CA state website provides information on COBRA in California including eligibility criteria. https://www.dmhc.ca.gov/healthcareincalifornia/typesofplans/keepyourhealthcoverage(cobra).aspx Some other states have COBRA extension beyond 18 months as well. There can be some limitations, however. My last employer's health insu...
by Luckywon
Mon Mar 04, 2024 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Does healthcare remain a significant concern for retirement before 65, even with a well-planned budget?
Replies: 66
Views: 6333

Re: Even with a well-planned budget, does healthcare remain a significant concern for retirement before 65?

us_20231217 wrote: Sat Mar 02, 2024 2:15 pm Instead, I want to gain more clarity when making the decision of whether to retire before 60 and rely on an ACA plan as a reasonable and adequate insurance, or to prolong my career until 65 (or perhaps 63 1/2, with 18 months of COBRA coverage) to maintain access to my employer's plan.
If you are in California, you may be eligible for 36 months of COBRA, i.e. 18 months of federal COBRA and 18 months of Cal-COBRA.

The below CA state website provides information on COBRA in California including eligibility criteria.

https://www.dmhc.ca.gov/healthcareincal ... obra).aspx
by Luckywon
Sun Mar 03, 2024 9:33 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 5249
Views: 900227

Re: What are you up YTD? [Year To Date]

iceport wrote: Sun Mar 03, 2024 8:06 am Oh, YTD I'm up 2.67%, no contributions or withdrawals, ~62-64% equity.

But what's more significant to me, psychologically, is finally matching and beating my previous weekend balance high of November 6, 2021. Time spent significantly below the prior peak has seemed to drag on forever. And that's only been 2 years and 4 months! Human perception of time is a curious thing...
I'm 65:35 equity:bonds and also finally nominally above 12/31/2021 high. But in real terms, still 10% down. This is after accounting for contributions and withdrawals.

Between markets and inflation, 2022 was financially a very bad year, down around 28% at one point.
by Luckywon
Sat Feb 24, 2024 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Death of California resident, MY partner, with property in Massachusetts
Replies: 12
Views: 1468

Re: Death of California resident with property in Massachusetts

So sorry to hear of this loss, Nonnie. My sincere condolences.
by Luckywon
Fri Feb 16, 2024 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Managing your affairs when you live alone and have no family or true friends
Replies: 133
Views: 21638

Re: Managing your affairs when you live alone and have no family or true friends

My wife passed away yesterday. These answers are so helpful. Two of my nieces have graciously agreed to help out as my agent/personal rep and contingent same. Things are looking up now. I'm off to the Estate law attorney soon to begin probate of my wife's will, and to create a new set of estate instruments going forward. And also to be sure this "Solo Ager" plan is bulletproof. It's a comfort to know this board is here, and that so many are so willing to help. I'm sorry to hear of your loss. The update on your nieces is very reassuring. We also have no children. Considering the situation where a surviving spouse is incapacitated, we wanted to give the family members we trust flexibility to decide what arrangements would work. Our...
by Luckywon
Sat Feb 03, 2024 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Wire Fraud in Real Estate Transaction - What Next?
Replies: 122
Views: 14290

Re: Wire Fraud in Real Estate Transaction - What Next?

I would focus on putting the original attorney and my title company's feet to the fire rather than engaging another attorney. The minute I perceived the attorney was not accepting responsibility or was not as a highest priority doing everything possible to fix things I would have given maybe a 24 hour notice and then made a complaint to the state bar. OP has been perhaps too patient IMO.
by Luckywon
Sat Feb 03, 2024 12:36 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

I was initially pleased with Simplifi but soured on it:

-I really missed the time stamp that Mint has for when an account was refreshed.
-Citbank credit cards have not synced in more than a week and Simplifi could offer no estimate of when or if the issue would be fixed.
-Support options much more limited than advertised. I think they are just overwhelmed.

I canceled my subscription. Back to the drawing board!
by Luckywon
Fri Feb 02, 2024 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Wire Fraud in Real Estate Transaction - What Next?
Replies: 122
Views: 14290

Re: Wire Fraud in Real Estate Transaction - What Next?

lstone19 wrote: Fri Feb 02, 2024 12:41 pm
bd7 wrote: Fri Feb 02, 2024 12:32 pm Have you read your title insurance policy? Does it exclude the BSB lien?
Lots of people claim title insurance is a waste of money but this is a text book case of why you do get title insurance.
We have no information indicating that OP's title insurance policy will defend OP's title in this case so this statement seems premature at best.
by Luckywon
Mon Jan 29, 2024 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Managing your affairs when you live alone and have no family or true friends
Replies: 133
Views: 21638

Re: Managing your affairs when you live alone and have no family or true friends

Sorry to hear of your difficult situation. As you have no trusted family or friends, a problem I see with giving durable POA to any professional is that there would be little to stop them from depleting your estate or providing substandard care. If I were in your situation, I would engage an estate attorney and ask whether it is feasible to prepare a document providing that in the event of your incapacity you nominate a professional that you have screened (and alternates) that the probate court appoint as your conservator, and who would report to the probate court as required. That would be quite expensive, as you would have to pay the conservator not only to attend to your needs but also for the work of reporting to the probate court and y...
by Luckywon
Wed Jan 24, 2024 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Will related issue
Replies: 79
Views: 7250

Re: Will related issue

Person A gave you a will, that was omitting person B (her sister). And you chose to give the will to Person B. Why? OP gave the Will to the next of kin as no executor was named. Serms reasonable to me though I agree the outcome was unfortunate. What else should OP have done with the Will? ....Take it to a lawyer of her own choosing. What should she tell the lawyer she wants the lawyer to do and who would pay this lawyer? Edit: I see OP subsequently states OP stands to inherit a property under the Will. Absent any clue that the sister would attempt to ignore the Will I think as OP did I would have given the Will to the sister as next of kin. However, once the sister subsequently informed me she was ignoring the will, as a beneficiary I woul...
by Luckywon
Wed Jan 24, 2024 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Will related issue
Replies: 79
Views: 7250

Re: Will related issue

LotsaGray wrote: Wed Jan 24, 2024 10:48 pm
Luckywon wrote: Wed Jan 24, 2024 10:40 pm
single2019 wrote: Wed Jan 24, 2024 10:21 pm Person A gave you a will, that was omitting person B (her sister). And you chose to give the will to Person B. Why?
OP gave the Will to the next of kin as no executor was named. Serms reasonable to me though I agree the outcome was unfortunate. What else should OP have done with the Will?
....Take it to a lawyer of her own choosing.
What should she tell the lawyer she wants the lawyer to do and who would pay this lawyer?
by Luckywon
Wed Jan 24, 2024 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Will related issue
Replies: 79
Views: 7250

Re: Will related issue

LotsaGray wrote: Wed Jan 24, 2024 10:42 pm Does the will name an executor? That is who you should give the will to.
fsrph wrote: Wed Jan 24, 2024 4:01 am The will did not name an executor.
Francis
by Luckywon
Wed Jan 24, 2024 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Will related issue
Replies: 79
Views: 7250

Re: Will related issue

single2019 wrote: Wed Jan 24, 2024 10:21 pm Person A gave you a will, that was omitting person B (her sister). And you chose to give the will to Person B. Why?
OP gave the Will to the next of kin as no executor was named. Serms reasonable to me though I agree the outcome was unfortunate. What else should OP have done with the Will?
by Luckywon
Wed Jan 24, 2024 2:20 pm
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 41946

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

Happy Birthday to a most extraordinary man!🥂🥂🎂
by Luckywon
Sun Jan 21, 2024 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Net Worth Averages in different professions
Replies: 91
Views: 11549

Re: Net Worth Averages in different professions

Admiral wrote: Sun Jan 21, 2024 7:01 am The average physician salary was $251,990 in 2022. Naturally some make much, much more, and the median is not reported.
This figure seems low to me based on what I have observed as a physician and salary data I have seen such as the annual Medscape compensation reports. Per Medscape, 2022 average was $339k.

https://www.medscape.com/slideshow/2022 ... ew-6015043
by Luckywon
Sun Jan 21, 2024 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Net Worth Averages in different professions
Replies: 91
Views: 11549

Re: Net Worth Averages in different professions

Wash.Invest wrote: Sun Jan 21, 2024 6:01 am
With today's windfall bonus of selling primary residence and collecting $500k income tax free gains every 24 months..

...I do the $500k thing by just buying a scrapper home (with a legal addy) in the way of development, then converting it to commercial property, and 24 months later, selling it to a developer who bulldozes the home. No physical work involved, just a lot of foot work to change zoning.
I thought the primary residence capital gains exclusion was not applicable for a commercial property. An i mistaken or is there some workaround?
by Luckywon
Thu Jan 18, 2024 5:50 pm
Forum: Personal Consumer Issues
Topic: Are car washes necessary?
Replies: 116
Views: 12618

Re: Are car washes necessary?

My car gets washed at its annual service, whether it needs it or not. :beer
by Luckywon
Mon Jan 15, 2024 6:13 am
Forum: Personal Consumer Issues
Topic: Tips on car rental
Replies: 73
Views: 12557

Re: Tips on car rental

lazydavid wrote: Mon Jan 15, 2024 6:03 am Side benefit of the Bilt card for non-homeowners, is that it's the only card I'm aware of that earns miles/points when using it to pay rent.
It also has a good list of travel partners for point transfers including UA and AA. I got 500 bonus points for each airline loyalty program I linked. :happy. This card seems too good to be true and I would not be surprised if they start charging soon but for now I'm enjoying it. :beer
by Luckywon
Sun Jan 14, 2024 11:04 pm
Forum: Personal Consumer Issues
Topic: Tips on car rental
Replies: 73
Views: 12557

Re: Tips on car rental

stuyguy wrote: Sun Jan 14, 2024 10:20 pm
snic wrote: Sun Jan 14, 2024 9:25 pm
soc2003 wrote: Sun Jan 14, 2024 11:34 am I believe there are some cards with a $99 yearly fee that include rental coverage as primary.
Chase Sapphire Preferred
United Explorer CC too
Bilt MC is free and has primary CDW (except in NY). Includes coverage for loss of use.
by Luckywon
Sun Jan 14, 2024 10:00 pm
Forum: Personal Consumer Issues
Topic: Best password manager, for pc and Android?
Replies: 64
Views: 5125

Re: Best password manager, for pc and Android?

I have a PC and Android phone and starting using 1Password about a year ago.

It was a bit time consuming setting things up and cleaning up all my old passwords, but that would be the case no matter which password manager I chose.

1Password is working very well for me now and I have no doubt it's greatly enhanced my online security.
by Luckywon
Thu Jan 11, 2024 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: California Real Estate - Cap Gains taxes for a nonresident
Replies: 49
Views: 4261

Re: California Real Estate - Cap Gains taxes for a nonresident

Big Dog wrote: Thu Jan 11, 2024 8:19 pm you file as a non-resident. (540NR). As long as you don't rent the house out, and it was your primary residence, you could be eligible for the cap gain exclusion ($250k single, $500k joint). But over that amount is regular income, as CA does not differentiate between short and long term gains: all are income.

https://www.ftb.ca.gov/forms/2022/2022- ... oklet.html
I'm certainly no expert but I would think
a non resident of CA could not claim a house in CA is their primary residence?
by Luckywon
Thu Jan 11, 2024 6:56 am
Forum: Personal Investments
Topic: Horrified by Schwab Platform -- Where to Next?
Replies: 71
Views: 11846

Re: Horrified by Schwab Platform -- Where to Next?

ae88 wrote: Thu Jan 11, 2024 12:30 am On the Schwab App, the way the different positions are organized just doesn't make sense and you cannot customize it in the same way as in TDAmeritrade so that it makes more sense. For example, the "Positions" tab shows you (1) the security in one column, (2) the price and change in another, and (3) quantity, market valuation and day change in the third column and does not allow you to sort. For individual stocks, you cannot look at a graph longer than 1 year. Google Finance is better. There are no pre-open and post-close price charts.
You might consider maintaining your own Google or Excel spreadsheet or look into financial monitoring apps/ websites to achieve these things.
by Luckywon
Sat Jan 06, 2024 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

They actually had a $1 per month ad-free plan.. my guess is very few people signed up for it That's something I don't remember even seeing, and I am/was a user since 2010! Likewise. Mint user for 15 years, not aware of that. We may have discovered the reason that very few people signed up for it. :P I subscribed to the $0.99 premium ad free version for many years. I still occasionally saw ads but at $0.99/month I figured I'd be compounding my losses if I spent time inquiring about it. On October 26, 2023, I got an email from Intuit informing me the premium ad fee version of Mint would be discontinued soon. It seems that was the canary in the coal mine, before the news Mint was being entirely discontinued, though I did not recognize it as s...
by Luckywon
Fri Jan 05, 2024 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage tax penalty and getting a prenup in early 30s
Replies: 121
Views: 17212

Re: Marriage tax penalty and getting a prenup in early 30s

And he was also clear that prenuptial contracts are easy and cheap and enforceable when done right Lawyer is not a judge. When she quits her $250k job (say to care for newborns) and then lawyers up and files for divorce stating that he cheated on her with their 18 y.o. housekeeper you will have hard time enforcing pre-nap. :mrgreen: Every family law attorney we spoke told us that properly drafted prenups are extremely difficult to contest and therefore rarely contested. Every expert on the subject I have ever read or heard on this subject says the same. Contests do occur, with prenups as with any other contract, especially if celebrities and large fortunes are involved. Wills and Trusts may also be contested, perhaps just as much or more, ...
by Luckywon
Fri Jan 05, 2024 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage tax penalty and getting a prenup in early 30s
Replies: 121
Views: 17212

Re: Marriage tax penalty and getting a prenup in early 30s

You should weigh your concern about the income tax "marriage penalty" against the potential financial benefits that marriage can bring. Depending on your circumstances, these may include: -Federal and potentially state (including WA) spousal estate tax exemptions. Federal interspousal gifting tax exemption. -In community property states, full step up in basis for community property for surviving spouse. -Spousal inheritance of IRAs confers options that have favorable RMD requirements. -Spousal social security benefits while alive and as survivor. -Spousal pension benefits, employment medical benefits. -In at least California, property tax benefits for surviving spouse (interspousal exclusion from property tax reassessment). -More...
by Luckywon
Fri Jan 05, 2024 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage tax penalty and getting a prenup in early 30s
Replies: 121
Views: 17212

Re: Marriage tax penalty and getting a prenup in early 30s

Does your GF think of potentially getting married purely as a financial analysis in the same way you lay it out here? These "marriage finance" and prenup posts are predictably over-represented by one gender, hyper-logical, and always leave out the potential spouse's point of view. I should have clarified that everything I shared about the prenup was a result of a long discussion with my partner. We have agreed on the high-level ideas but are not sure how to execute them exactly. Don't let judgmental comments sway your decision when it comes to matters as personal as prenuptial agreements and marriage. Your choices should be based on what you and your partner want and agree upon, in light of legal and financial facts. You should w...
by Luckywon
Tue Jan 02, 2024 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072438

Re: Share your net worth progression

Wow -- some of this is so incredible. Makes me wish that I'd started earlier, but, whatever, better late than never! Seeing others' progressions though is a bit confusing. I don't really seem to be following the same trajectory at least in terms of percentage. My 2022 was really worse than others', and I'm not sure why. I'm basically back to where I was in January 2022, taking into account savings. I follow a straight target date and three-fund portfolio and so I would have thought that my returns on a percentage basis each year would have been consistent with other bogleheads. I'm not sure what happened. Anyway, 56, steady income the last few years and I save about $110-120k per year. Brackets are U.S./Int./Bond. I only do the math once a...
by Luckywon
Sun Dec 31, 2023 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Update in Last Post - What To Do When Kids Can't Find the Trust Documents?
Replies: 48
Views: 6518

Re: What To Do When Kids Can't Find the Trust Documents?

I'm not an attorney but I suggest you consult with one and consider something along the lines of having your MIL transfer assets from the current trust accounts to new personal accounts or new trust accounts, and set up POA or successor trustees for the new accounts or trust. You would have to show that she has the authority to do these things. Thanks for your comment bsteiner, my pulse always skips a beat when I see a reply from you. :D Oohh bsteiner!! We didn't know you were such a heart-throb :mrgreen: I mean... Have you seen his head shot? 😂 Couldn't resist. I don't want the good bsteiner to be uncomfortable so if I can add some nuance...it is more like Moses' heart rhythm would perhaps have been when he was alerted the ten commandment...
by Luckywon
Sun Dec 31, 2023 1:21 pm
Forum: Personal Consumer Issues
Topic: How would you handle this hotel bill issue?
Replies: 13
Views: 2301

Re: How would you handle this hotel bill issue?

IMO you have already said too much. :beer
by Luckywon
Sun Dec 31, 2023 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Quality of Life vs. Saving More - How much to sacrifice?
Replies: 61
Views: 9641

Re: Quality of Life vs. Saving More - How much to sacrifice?

If I were you I would either keep the apartment or leave NYC. Any apartment, especially in NYC, may come with hassles, so I would not give up that incredible deal unless I was quite wealthy.
by Luckywon
Sun Dec 31, 2023 12:31 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST
Replies: 672
Views: 40241

Re: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST

auntie wrote: Fri Dec 29, 2023 3:16 pm
OhBoyUhoh wrote: Fri Dec 29, 2023 3:07 pm Congrats, auntie! You were simply better than me.
Thank you. I've been watching us go back and forth. It looked like you had it until the last minute.

I won 2 years ago with the same number.
Congratulations. Just extraordinary! I see a pattern here. Is it too early to ask what your prediction is for the 2025 contest? You can PM me. :sharebeer
by Luckywon
Sat Dec 30, 2023 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

This article published yesterday reviews 6 alternatives to Mint. I found it helpful. https://www.engadget.com/the-best-budgeting-apps-to-replace-mint-143047346.html The reviewed apps are Simplifi, YNAB, Monarch, Copilot, NerdWallet and PocketGuard. Its favorite is Simplifi. Thank you for posting this! Based on this article and some info in this thread, I decided to give Simplifi a shot. So far I am really happy with the results. I've just done some basic set up to get ready for the New Year and I already like it more than Mint. Glad it helped. I also signed up with Simplifi and am liking it very much. The one thing I am missing is that is was easy to see on the MInt App when the data for each account was last refreshed. I don't see that in...
by Luckywon
Sat Dec 30, 2023 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Update in Last Post - What To Do When Kids Can't Find the Trust Documents?
Replies: 48
Views: 6518

Re: What To Do When Kids Can't Find the Trust Documents?

bsteiner wrote: Sat Dec 30, 2023 3:02 pm
Luckywon wrote: Sat Dec 30, 2023 1:44 am I'm not an attorney but I suggest you consult with one and consider something along the lines of having your MIL transfer assets from the current trust accounts to new personal accounts or new trust accounts, and set up POA or successor trustees for the new accounts or trust.
You would have to show that she has the authority to do these things.
Thanks for your comment bsteiner, my pulse always skips a beat when I see a reply from you. :D

I'm assuming that currently MIL is able to make transactions independently in the trust accounts. If that is the case, I'm thinking that MIL transferring assets to another account would not be questioned by the current trust custodian but it could very well be I'm missing something?
by Luckywon
Sat Dec 30, 2023 1:30 pm
Forum: Personal Investments
Topic: Income Limits when investing in a Solo K Roth IRA
Replies: 4
Views: 487

Re: Income Limits when investing in a Solo K Roth IRA

Sunshinecoast wrote: Sat Dec 30, 2023 10:38 am Is it correct that a self-employed person can make contributions to a Roth in a Solo (k) plan irregardless of their income level?
Your net business income does not disqualify you from making contributions to a Solo 401(k) if it is too high. Instead, it affects the maximum amount you can contribute, as it it used to calculate the upper limit for contributions.
by Luckywon
Sat Dec 30, 2023 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Add my Wife to the Home Property Deed
Replies: 26
Views: 2984

Re: Should I Add my Wife to the Home Property Deed

I agree with this interpretation. In fact, this is the reason behind the community property 100% step up law. A hundred years ago, most assets were separately owned by husbands because wives didn't have income. The husband would die, and the wife would get a 100% step up in basis. Meanwhile, in community property states, since the house was considered owned 50/50, only the husband's half would get the stepped up basis. Congress passed a law to equalize the situation, giving assets in community property states the same 100% step up. Of course, now that houses are more likely to be held as joint property in common law states, this has become an advantage of community property instead of the disadvantage it once was. Thanks that's an interest...
by Luckywon
Sat Dec 30, 2023 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Add my Wife to the Home Property Deed
Replies: 26
Views: 2984

Re: Should I Add my Wife to the Home Property Deed

As a consideration, if you add her, you may get a cost basis step on half or all of the property if your spouse predeceases you, depending on whether or not you live in a community property state. Does that mean if my wife predeceases me, the cost basis could go up and does have a negative tax consequence or a positive one? Sorry, I've been trying to read up on this but it's not making much sense to me. I'm in GA, a non-community property state. I may not have answered your question clearly in my first reply. Cost basis is the starting point used to determine whether capital gains tax may be owed upon sale of an asset. For a primary residence, if property has appreciated at the time of death of a spouse, a cost basis reset is a positive th...
by Luckywon
Sat Dec 30, 2023 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Should I Add my Wife to the Home Property Deed
Replies: 26
Views: 2984

Re: Should I Add my Wife to the Home Property Deed

As a consideration, if you add her, you may get a cost basis step on half or all of the property if your spouse predeceases you, depending on whether or not you live in a community property state. Does that mean if my wife predeceases me, the cost basis could go up and does have a negative tax consequence or a positive one? Sorry, I've been trying to read up on this but it's not making much sense to me. I'm in GA, a non-community property state. I'm more familiar with how property ownership affects cost basis in a community property state so take what I say with a grain of salt. My understanding is that in a non community property state, jointly held marital property will get a cost basis step up on 50 % of the property upon the death of e...
by Luckywon
Sat Dec 30, 2023 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Update in Last Post - What To Do When Kids Can't Find the Trust Documents?
Replies: 48
Views: 6518

Re: What To Do When Kids Can't Find the Trust Documents?

I'm not an attorney but I suggest you consult with one and consider something along the lines of having your MIL transfer assets from the current trust accounts to new personal accounts or new trust accounts, and set up POA or successor trustees for the new accounts or trust.
by Luckywon
Fri Dec 29, 2023 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Should I Add my Wife to the Home Property Deed
Replies: 26
Views: 2984

Re: Should I Add my Wife to the Home Property Deed

Background: We are getting ready to pay-off our home mortgage at some point next year. When I originally financed the home it was just put under my name since my wife stays at home and the bank only used my income to qualify for the loan. Questions 1. Should I add my wife to our home property deed after we pay off the mortgage? 2. Any tax implications to doing this? 3. Any reasons not to add her? Why: I want to make sure if I pass away she can avoid any lengthy probate. We also share everything so I want her to enjoy the same sense of ownership. We are happily married 17 years with 3 children so no legal concerns about separation/divorce here. Thanks. As a consideration, if you add her, you may get a cost basis step on half or all of the p...
by Luckywon
Fri Dec 29, 2023 8:57 am
Forum: Personal Finance (Not Investing)
Topic: ACA before medicare
Replies: 43
Views: 5360

Re: ACA before medicare

Thank you. I'm curious, do you (or anyone) have thoughts or information on whether, if an employer has health plans from more than one insurance provider on their "menu" of available plans, that is an indication of whether their health plans may be self funded or not? The reason I ask is I am wondering if that is one way to potentially assess the likelihood that Cal COBRA extension may be available for a given employer. Of course the best way to know would be to ask the employer, but that may be a bit indelicate before hiring. Not really sure, but I'm guessing that multiple options doesn't reveal anything. In my case I have two insurance provider options and one refers to itself as "self funded" in the plan docs and the...
by Luckywon
Thu Dec 28, 2023 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: ACA before medicare
Replies: 43
Views: 5360

Re: ACA before medicare

Not sure how likely it is. Many (most?) larger companies have self insured plans which are not eligible for Cal COBRA. Correct that self funded health plans are not eligible for Cal COBRA, the link i posted notes that, along with other conditions where Cal COBRA may not be available. One can ask HR or the health plan to find out if the health plan is self funded. Our company plan was not self funded so we are eligible for Cal COBRA. I'm curious, on what basis do you say many companies have self funded plans? I had the impression most were not, but admittedly I have solid information only on an n of 1. I assume it's just a matter of having the financial resources to fund the aggregate risk of the employee base. I'm sure it saves the company...
by Luckywon
Thu Dec 28, 2023 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: ACA before medicare
Replies: 43
Views: 5360

Re: ACA before medicare

Cobra: I do plan to use Cobra, if it's available (haven't consulted with our HR yet. don't want to give them a heads-up). But Cobra has a time limit, which is not long enough to bridge me over to medicare.. You may know this already but since you live in California it is likely you will be eligible for 3 years of COBRA: 18 months on federal COBRA followed by 18 months on Cal COBRA. If you want COBRA coverage I recommend you be extremely proactive and vigilant regarding rules and deadlines. Understand that for Cal COBRA enrollment and billing you will deal directly with the health plan, not the federal COBRA administrator, which may have little interest or knowledge about Cal COBRA. The government link below provides good information on COB...
by Luckywon
Thu Dec 28, 2023 11:51 am
Forum: Personal Finance (Not Investing)
Topic: ACA before medicare
Replies: 43
Views: 5360

Re: ACA before medicare

Cobra: I do plan to use Cobra, if it's available (haven't consulted with our HR yet. don't want to give them a heads-up). But Cobra has a time limit, which is not long enough to bridge me over to medicare.. You may know this already but since you live in California it is likely you will be eligible for 3 years of COBRA: 18 months on federal COBRA followed by 18 months on Cal COBRA. If you want COBRA coverage I recommend you be extremely proactive and vigilant regarding rules and deadlines. Note that for Cal COBRA enrollment and billing you will deal directly with the health plan, not the federal COBRA administrator, which may have little interest or knowledge about Cal COBRA. The government link below provides good information on COBRA in ...
by Luckywon
Wed Dec 27, 2023 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

kd2008 wrote: Wed Dec 27, 2023 9:07 am How do I download the full transaction history from Mint? I read up thread or somewhere online earlier that there was chrome plugin that simplifies the task with a single click. Could someone please reshare the info? Thank you.

Update: https://chrome.google.com/webstore/deta ... er-by-mon/

I believe it is this one
When I click on that it says requested url not found.
by Luckywon
Sat Dec 23, 2023 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141304

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

I enrolled in Simplifi this morning and am pretty pleased with it.

I used Mint for tracking account activity across brokerages and credit cards and net worth tracking. I don't use it for budgeting.

Added all accounts with no issues including investment, checking and credit card accounts across 7 institutions. No option to import data from Mint as far as I could see but a good amount of transaction history (9 months to 2 years depending on accounts) came through in the initial upload of data.

I find it at least as good as Mint so far.
by Luckywon
Sat Dec 23, 2023 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Help asap pls. Solo 401k termination ? Now have employees
Replies: 67
Views: 3947

Re: Help asap pls. Solo 401k termination ? Now have employees

This is where I am running in circles. Who are "the professionals?". I ignorantly thought that's who Edward Jones were. I am admittedly ignorant to all this. I reached out to another financial advisor and a business attorney who would look into this but I don't know if they are any more knowledgeable than EJ is. No, I'm in my 40s. I don't mean to be a pest, but as I mentioned previously, I strongly recommend you do a google search for "solo 401k administration" to identify companies that specialize in retirement plan administration. I would not wait to hear back from your advisor and business attorney, as your issue is most likely beyond their ken and obviously time may be of the essence. If some solutions for your issu...