Search found 69 matches

by RJ2010
Mon Apr 05, 2021 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: 529 choices for unborn grand kids
Replies: 3
Views: 455

529 choices for unborn grand kids

My two sons (one 10th grade and one 12th grade). I have enough to cover them for their college. I'm thinking of starting 529 for grand kids. The problem is that they are not born yet and I don't even know if they will have any for me. But I still want to start some accounts because I have some cash....
by RJ2010
Tue Mar 30, 2021 10:40 pm
Forum: Personal Consumer Issues
Topic: Does Honors Undergrad help Grad School Admission
Replies: 38
Views: 2797

Re: Does Honors Undergrad help Grad School Admission

It really depends on his career ambitions. Unless he wants to highly specialize, a BS is enough. People and business skills are more important to move up than writing code. You kind of have to constantly market yourself and what you do.
by RJ2010
Thu Mar 25, 2021 9:33 pm
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2646

Re: son to major in Business, advice on specialization requested

Thank you everyone for responding and give your suggestions. I’m reading every post.
by RJ2010
Thu Mar 25, 2021 9:20 am
Forum: Personal Consumer Issues
Topic: son to major in Business, advice on specialization requested
Replies: 60
Views: 2646

son to major in Business, advice on specialization requested

I love collective wisdom here and want to ask about business major advice. I'm a software engineer and knows very little about Business majors. My high school senior son got accepted to Emory and plans to major in business. He has very strong math skills (full score in SAT and subject SAT). I tried ...
by RJ2010
Fri Mar 05, 2021 6:06 pm
Forum: Personal Consumer Issues
Topic: differences in these advanced directive choices
Replies: 3
Views: 330

Re: differences in these advanced directive choices

you can only choose one. so I'm confused about this
by RJ2010
Fri Mar 05, 2021 4:41 pm
Forum: Personal Consumer Issues
Topic: differences in these advanced directive choices
Replies: 3
Views: 330

differences in these advanced directive choices

My health portal has the following choices for advanced directive. I wonder if anyone can help tell the differences 1. Legally Appointed Guardian 2. Medical Power of Attorney 3. Spouse (Surrogate) 4. Parent (Surrogate) 5. Nearest Living Relative (Surrogate) 6. Billing information only 7. Both Billin...
by RJ2010
Fri Mar 05, 2021 10:27 am
Forum: Personal Consumer Issues
Topic: resisting login security measures
Replies: 16
Views: 1538

resisting login security measures

After research and spending countless hours, I came to realize importance of using password manager to use unique passwords. so I bought 1password for family. the problem is that no one (other than me) in my family wants to use it. My kids and wife are not using it. I basically wasted some money on ...
by RJ2010
Mon Feb 22, 2021 9:40 am
Forum: Personal Finance (Not Investing)
Topic: IRS Pin didn't arrive, what to do?
Replies: 7
Views: 586

IRS Pin didn't arrive, what to do?

I requested IRS pin for my son (who filed return for 2019). His phone # wasn't in the system. So IRS said to mail instructions. it never came after 3 weeks.

anyone has similar experience and what should you do about it?
by RJ2010
Thu Feb 18, 2021 10:08 am
Forum: Personal Investments
Topic: vanguard 529 annual contribution limit
Replies: 2
Views: 303

vanguard 529 annual contribution limit

I read vanguard 529 (Nevada). It just says you can't contribute if the account exceeds 500k. But it doesn't specify annual limit.
If my wife and I contribute to my kids, will it be 15000x2 (gift limit) per year?
by RJ2010
Mon Feb 08, 2021 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: POA, MPOA for for 18 year old son?
Replies: 46
Views: 1900

Re: DIY will for 18 year old

based on all the discussion here, it looks like no one has done this? I read from college confidential where parent whose kid went into coma. She learnt hard way that she had to go through court for all kinds of stuff like medical decisions etc. that's what prompted ask me here. my kid has little a...
by RJ2010
Mon Feb 08, 2021 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: POA, MPOA for for 18 year old son?
Replies: 46
Views: 1900

Re: DIY will for 18 year old

based on all the discussion here, it looks like no one has done this? I read from college confidential where parent whose kid went into coma. She learnt hard way that she had to go through court for all kinds of stuff like medical decisions etc. that's what prompted ask me here. my kid has little as...
by RJ2010
Mon Feb 08, 2021 10:17 am
Forum: Personal Finance (Not Investing)
Topic: POA, MPOA for for 18 year old son?
Replies: 46
Views: 1900

POA, MPOA for for 18 year old son?

so I am modifying this thread because it caused confusion. My son turned 18 and will go to to college. I want to be prepared for the worst. For example, what if he gets into a car accident and becomes incapacitated? I want to be able to access his medical records, schools records and made decision o...
by RJ2010
Thu Feb 04, 2021 4:51 pm
Forum: Investing - Theory, News & General
Topic: [GameStop GME trading mega-thread]
Replies: 4545
Views: 227767

Re: [GameStop GME trading mega-thread]

My Kid who is in high school and works a few hours a week for $10.00/hr bought one share of GME at $260 a few days ago. Now it's at $53.00. He had to work 26 hours to buy that share. I'm glad he did it :D because it will be a lesson for him and this lesson just costs $260 at max instead of big lesso...
by RJ2010
Mon Feb 01, 2021 10:13 am
Forum: Personal Consumer Issues
Topic: kids spending habits
Replies: 8
Views: 828

Re: kids spending habits

Valuethinker wrote: Mon Feb 01, 2021 9:28 am
Can I suggest you go to the Personal Finance (not investing) sub-board here?
thank you. I will repost there. accidently got into this forum
by RJ2010
Sun Jan 31, 2021 10:08 pm
Forum: Personal Consumer Issues
Topic: kids spending habits
Replies: 8
Views: 828

kids spending habits

My wife and I have two teen sons. Both of us are pretty careful when it comes to spending. Wife stays at home and I make decent money. We are not in the want of any basic needs. Boys have never seen us stressed financially or facing financial hardship. Both boys know that we are doing well financial...
by RJ2010
Sat Jan 30, 2021 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: roth IRA & tax return
Replies: 5
Views: 459

Re: roth IRA & tax return

But to ensure that the Roth contributions are valid, the child should keep records of their income for 7 years. They could use a notebook with something like babysat for Mrs Smith for $50 on Jan 1, 2020. Mowed lawn for $75 for mr Jones June 3, 2020. Or a spreadsheet, just some type of record. http:...
by RJ2010
Sat Jan 30, 2021 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: roth IRA & tax return
Replies: 5
Views: 459

roth IRA & tax return

It doesn't seem that you need to do anything in your tax return when you contribute Roth IRA?
My kid contributed Roth IRA last year. but TurboTax didn't generate any additonal forms.

Do you need to file 8606 for Roth IRA contribution?
by RJ2010
Thu Jan 28, 2021 5:28 pm
Forum: Personal Consumer Issues
Topic: 1password clarification
Replies: 7
Views: 697

Re: 1password clarification

OK. I figured it out. I must accidently agreed to let 1password extension to store those. after I deleted it, now it behaves correctly. 1password extension should have avoided for user to store master password. I guess they don't differentiate it. It probably be OK though because it's encrypted. Th...
by RJ2010
Wed Jan 27, 2021 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on UTMA dividends when kid turned 18
Replies: 5
Views: 409

Re: Tax on UTMA dividends when kid turned 18

He needs to file return so that he can do roth IRA (he did work and had some earned income W2) A tax return is not required in order to make IRA contributions. The W-2 itself is all the proof of IRA compensation needed. There no need for him to file a tax return unless he meets one of the filing re...
by RJ2010
Wed Jan 27, 2021 10:19 pm
Forum: Personal Consumer Issues
Topic: 1password clarification
Replies: 7
Views: 697

Re: 1password clarification

OK. I figured it out.
I must accidently agreed to let 1password extension to store those. after I deleted it, now it behaves correctly.
1password extension should have avoided for user to store master password. I guess they don't differentiate it. It probably be OK though because it's encrypted.
by RJ2010
Wed Jan 27, 2021 10:14 pm
Forum: Personal Consumer Issues
Topic: 1password clarification
Replies: 7
Views: 697

Re: 1password clarification

They are being stored locally in your chrome, not with 1Password. You have chrome set to remember all passwords (or allowed it at least for 1Passsword.) no, it's not chrome doing it. It's the 1password Chrome extension storing both secret and master keys. basically I unlock the 1password extension,...
by RJ2010
Wed Jan 27, 2021 9:49 pm
Forum: Personal Consumer Issues
Topic: 1password clarification
Replies: 7
Views: 697

1password clarification

I'm hoping someone has similar experience. I'm evaluating to use 1password. they claim that the secret key and master password are never sent and stored with 1passpord. but when I play with it and try to log on to 1password website, I'm shocked that the Chrome extension actually knows both secrete k...
by RJ2010
Wed Jan 27, 2021 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on UTMA dividends when kid turned 18
Replies: 5
Views: 409

Re: Tax on UTMA dividends when kid turned 18

Are you sure he is required to file a tax return? Being an adult is not one of the tax filing requirements. Not to mention, only KY and SD have an 18 UTMA required age of termination. Also SC, because they are the lone UGMA holdout. he needs to file return so that he can do roth IRA (he did work an...
by RJ2010
Wed Jan 27, 2021 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on UTMA dividends when kid turned 18
Replies: 5
Views: 409

Tax on UTMA dividends when kid turned 18

I have a very small UTMA account for my son. Dividend is less than $100.00. When he didn't have to file tax return, I didn't have to report this money per IRS (less than $2200). He turned 18 last year and will file tax return this year. Vanguard still post 1099 under my account but uses my son's SSN...
by RJ2010
Tue Jan 26, 2021 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Re: Securing my accounts, what am I missing?

after suggestions of 1password, I signed up. one problem is that 1password generate 20 chars. I can't find a way to customize. many sites dont' take 20 chars. what's worse is that some site silently takes it and then when you sign in, the password will be incorrect. anyone knows how to customize le...
by RJ2010
Mon Jan 25, 2021 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Re: Securing my accounts, what am I missing?

after suggestions of 1password, I signed up. one problem is that 1password generate 20 chars. I can't find a way to customize. many sites dont' take 20 chars. what's worse is that some site silently takes it and then when you sign in, the password will be incorrect. anyone knows how to customize le...
by RJ2010
Mon Jan 25, 2021 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Re: Securing my accounts, what am I missing?

after suggestions of 1password, I signed up. one problem is that 1password generate 20 chars. I can't find a way to customize. many sites dont' take 20 chars. what's worse is that some site silently takes it and then when you sign in, the password will be incorrect. anyone knows how to customize len...
by RJ2010
Sun Jan 24, 2021 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Re: Securing my accounts, what am I missing?

Use a password manager. I feel this is a risk rather than a feature. if somehow, the password manager is hacked, hackers get everything. So I'm staying away. I never click on links by email. I bookmark my financial institutions' website and directly go to them. It's not. A password manager reduces ...
by RJ2010
Sat Jan 23, 2021 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Re: Securing my accounts, what am I missing?

HawkeyePierce wrote: Sat Jan 23, 2021 2:08 pm Use a password manager.
I feel this is a risk rather than a feature. if somehow, the password manager is hacked, hackers get everything. So I'm staying away.
I never click on links by email. I bookmark my financial institutions' website and directly go to them.
by RJ2010
Sat Jan 23, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: HSA limits
Replies: 4
Views: 505

HSA limits

From reading HSA, I'm still a bit confused and want to confirm if I'm doing it correctly.
my wife and I have two kids. Only I work. My company and I together will contribute $7200 in 2021. I'm at age 52.
is this the best I can do? does my wife have a chance to open HSA account?
by RJ2010
Fri Jan 22, 2021 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Securing my accounts, what am I missing?
Replies: 45
Views: 3671

Securing my accounts, what am I missing?

2020 was a wake-up year for me. I discovered that my FB account was accessed overseas. My credit card was used overseas while cards were in my possession (probably due to travel and someone stole the #). After research (from this site), here is what I did: 1. Secured all accounts (including email, f...
by RJ2010
Fri Jan 22, 2021 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity 5498 reporting inconsistencies
Replies: 3
Views: 421

Fidelity 5498 reporting inconsistencies

Are financial institutions required to report 5498 for IRAs every year even without contribution? It seems that Fidelity sends 5498 inconsistently. my wife has a Traditional IRA (we deducted from federal tax return when contributed) and Roth IRA. She stopped contributing to both TIRA and Roth a whil...
by RJ2010
Mon Jan 18, 2021 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: credit report agencies
Replies: 10
Views: 392

Re: credit report agencies

no, you don't need to pay to lift your freeze
by RJ2010
Mon Jan 18, 2021 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: credit report agencies
Replies: 10
Views: 392

credit report agencies

I went and froze my credit with all three credit report agencies.
I found it very disturbing that none of them offer two factor authentication. all they need is a password.
Am I missing anything?
by RJ2010
Sun Jan 17, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: how much time do you spend on [personal finance] weekly?
Replies: 49
Views: 4573

how much time do you spend on [personal finance] weekly?

Ever since I read Millionaires next door, I keep spending time every week on personal finance. I estimate that I spend 1 hour /day (on average) on managing, reading finance related topics. Millionaires next door claims that your wealth is proportionally to how much time you spend on PF related matte...
by RJ2010
Sat Jan 16, 2021 1:52 pm
Forum: Personal Consumer Issues
Topic: High School Graduation Gifts
Replies: 41
Views: 6020

Re: High School Graduation Gifts

Found this old topic. It discussed gifting to other people's kid. I have a high school senior son. I'm looking for ideas on how to celebrate his graduation including gifts. He has latest Iphone and stuff. Nowadays, they consider anything school related as school supply. For example, if I buy an Appl...
by RJ2010
Wed Jan 13, 2021 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Identity Protection PIN
Replies: 94
Views: 5647

Re: IRS Identity Protection PIN

Thank you OP for the tip. I didn't know about this. I just signed up and got pin immediately. It's pretty easy. you just need a phone and credit card number (for verification) under your name. if you froze your Experian credit, you need to unfreeze. I just unfroze Experian and it worked. IRS website...
by RJ2010
Wed Jan 13, 2021 11:27 am
Forum: Personal Finance (Not Investing)
Topic: ESA vs 529 (how to keep money there)
Replies: 1
Views: 144

ESA vs 529 (how to keep money there)

I have both ESA and 529 for my kid. If he attends state school, there is a chance of left-over money. I want to keep the money invested. Is there an age limit on when I have to empty out the account? Or can I keep it there until he had kids and we use it for his kids? Is there an advantage to keep E...
by RJ2010
Mon Jan 11, 2021 11:48 am
Forum: Personal Finance (Not Investing)
Topic: resources/books of being a good father
Replies: 1
Views: 204

resources/books of being a good father

I know this is personal finance. But there is so much collective wisdom here on about anything. I have a 15 year old and 18 year old sons. I'm about to lose my influence as they go to college. But I still want to see how much I can do. I didn't learn much from my father other than blood and respect....
by RJ2010
Fri Jan 08, 2021 10:37 am
Forum: Personal Investments
Topic: investing/preservation when kid about to go to college
Replies: 3
Views: 286

investing/preservation when kid about to go to college

My son is graduating this year from high school. I have some cash in my kid's Education Savings account at vanguard. It earns nothing because I became too conservation and pulled out of SP500 to cash too soon a few years ago. I'm thinking of putting it under vanguard ultra short -- VUBFX to earn som...
by RJ2010
Wed Dec 30, 2020 10:22 pm
Forum: Personal Consumer Issues
Topic: bogleheads on Reddit
Replies: 62
Views: 8498

bogleheads on Reddit

My kid is interested in investing (he just took a course about personal finance in high school). He is on Reddit all the time. I did a search and found https://www.reddit.com/r/Bogleheads/. I don't use Reddit that much. Are same set of people on both this forum and Reddit? I just joined this forum a...
by RJ2010
Fri Dec 25, 2020 11:38 pm
Forum: Investing - Theory, News & General
Topic: Importance of 2 Factor Authentication
Replies: 215
Views: 16463

Re: Importance of 2 Factor Authentication

Fidelity uses VIP access app. does anyone know if they have a backup method? What if I lose my phone with VIP access app?
by RJ2010
Fri Dec 25, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: age to start long term care ins & self-insure net worth?
Replies: 15
Views: 1895

age to start long term care ins & self-insure net worth?

At what age should you start to buy long term care insurance?
What type of net worth can afford you self-insure (assuming no pension)?
by RJ2010
Thu Dec 24, 2020 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Does Fidelity or vanguard send form 5498 every year?
Replies: 1
Views: 275

Does Fidelity or vanguard send form 5498 every year?

I started reading more about IRA contribution. It appears that trustee needs to send 5498 to IRS and you. But I'm confused about under what condition to receive it. I looked at my record. In year 2016, fidelity sent me form 5498 with total balance for my Roth IRA. In 2016, I didn't contribute to Rot...
by RJ2010
Thu Dec 24, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: house deed issue
Replies: 2
Views: 476

house deed issue

My wife and I live in Texas. I made a mistake when purchasing a rental home by putting it just under my name.
In Texas (community based property), it belongs both of us. But I want to add her to the deed just in case.
Has anyone in the forum (from Texas) done that? I'd appreciate some pointers.
by RJ2010
Wed Dec 23, 2020 5:56 pm
Forum: Personal Investments
Topic: cost basis LT, ST gains of selling mutual funds
Replies: 4
Views: 361

Re: cost basis LT, ST gains of selling mutual funds

so I wanted to use this as learning opportunity about tax consequence. It seems that if you sell all shares for a fund with long term and short term, average cost method result in more ST gain while FIFO or highest in first out are the same (selling all shares). Using example in https://www.boglehe...
by RJ2010
Wed Dec 23, 2020 1:43 pm
Forum: Personal Investments
Topic: I bond limit for 2020
Replies: 1
Views: 258

I bond limit for 2020

I haven't purchased my I Bond for 2020. I have a treasury direct account which already has some purchase. If I got there before Dec 31,2020 and buy some, will it count towards my 2020 limit or 2021 limit?
by RJ2010
Wed Dec 23, 2020 8:08 am
Forum: Personal Investments
Topic: How to invest windfall for someone close to retirement
Replies: 13
Views: 1179

Re: How to invest windfall for someone close to retirement

Is ‘scraping by’ due to things beyond their control or their money management skills? If it’s latter, perhaps buy some immediate annuity?
1M is not that a lot for spenders. If you spend $1000/day, it will be gone in less than 3 years. That’s what I’m telling my kids whenever I can.
by RJ2010
Mon Dec 21, 2020 12:47 pm
Forum: Personal Investments
Topic: backdoor Roth @vanguard (wait for 7 days)
Replies: 5
Views: 544

backdoor Roth @vanguard (wait for 7 days)

There are some posts here stating that you just open Traditional IRA and turn around to convert to Roth next day. But that wasn't my experienced. I have an Roth IRA account already. I opened a traditional IRA last week with Electronic bank transfer. I saw the money second day. Then I called Vanguard...