Search found 2926 matches

by J295
Wed Jun 16, 2021 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Dad wants Wife to live in house left to me and sister after he passes
Replies: 84
Views: 9698

Re: Dad wants Wife to live in house left to me and sister after he passes

1. Lawyer
2. Conditional life estate if allowed in subject jurisdiction.
by J295
Sat Jun 12, 2021 9:38 pm
Forum: Personal Investments
Topic: Where to park 130k for 6 months
Replies: 39
Views: 3530

Re: Where to park 130k for 6 months

….. Keeping it in the Ally account is the safest bet, obviously, but I feel like it could be doing better. Is there any thing that is pretty safe, I can leave it for 6 months, and maybe see 1-2%? I'm not looking for so huge return, but I feel silly just letting it sit in the Ally account. Let’s say...
by J295
Fri Jun 11, 2021 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Ethical to Work with Two Realtors?
Replies: 31
Views: 3615

Re: Ethical to Work with Two Realtors?

Agree with concepts of posts above that you are better off with one good agent. If you do choose to use multiple agents I believe it appropriate for you to tell each of them that you are using other agents. I am a retired lawyer, and my wife is a real estate agent, and we have multiple family member...
by J295
Fri Jun 11, 2021 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Real estate agent reluctant to show offers to the seller prior to decision
Replies: 99
Views: 9668

Re: Real estate agent reluctant to show offers to the seller prior to decision

You asked why the agent might be doing this, and noted two possibilities. A reasonable guess based on limited facts is that the agent is inefficient, overwhelmed, or perhaps not customer oriented. A less charitable description would be lazy. You are wise to want to see the full offers. Terms other t...
by J295
Tue Jun 08, 2021 5:59 pm
Forum: Personal Investments
Topic: Treasury Direct/I-bond account for spouse?
Replies: 16
Views: 1008

Re: Treasury Direct/I-bond account for spouse?

Wondering if the process has changed over the last 8 years. When we made our first purchase about 8 years ago we logged on and opened up one account for me. Then log off and log back on again and open up another account for my spouse. No signatures required.
by J295
Sun Jun 06, 2021 12:57 pm
Forum: Personal Investments
Topic: Bonds vs Savings Account
Replies: 14
Views: 1549

Re: Bonds vs Savings Account

We have both.
by J295
Sat Jun 05, 2021 6:36 am
Forum: Investing - Theory, News & General
Topic: Inconsistencies with the Boglehead principles?
Replies: 68
Views: 4959

Re: Inconsistencies with the Boglehead principles?

Am I missing something here? We're really only talking of one or two exceptions of ten: 1 Develop a workable plan 2 Invest early and often 3 Never bear too much or too little risk 4 Diversify 5 Never try to time the market 6 Use index funds when possible 7 Keep costs low 8 Minimize taxes 9 Invest w...
by J295
Fri Jun 04, 2021 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: How do I convince my cousin they are doing OK and not to take unwarranted risk?
Replies: 61
Views: 4234

Re: How do I convince my cousin they are doing OK and not to take unwarranted risk?

So your cousin wants to start/buy a business. Seems reasonable to me. Whether the risk/reward tradeoff is favorable is probably beyond the scope of this form. But people start businesses all the time and often not for financial reasons. Some people are attracted to the idea of being their own boss....
by J295
Fri Jun 04, 2021 12:37 pm
Forum: Personal Consumer Issues
Topic: Dual-agency in RE?
Replies: 34
Views: 1819

Re: Dual-agency in RE?

Only person I can think of who benefits from dual agency is the realtor. Of course he was put off. He lost his chance at a 6% commission instead of 3%. Inappropriate for agent to push back. Completely up to the seller of course. Probably varies by location and company. There can be some advantage i...
by J295
Wed Jun 02, 2021 6:33 am
Forum: Personal Investments
Topic: ROTH IRA conversion approaches for Over-saved T-IRA
Replies: 56
Views: 4789

Re: ROTH IRA conversion approaches for Over-saved T-IRA

Thank you DSBH and Lee_WSP
by J295
Tue Jun 01, 2021 1:33 pm
Forum: Personal Investments
Topic: ROTH IRA conversion approaches for Over-saved T-IRA
Replies: 56
Views: 4789

Re: ROTH IRA conversion approaches for Over-saved T-IRA

Not intending to hijack, but hoping someone can help me with the statement upthread that taxable IRA can be helpful in paying for long term care. Can someone help me with a brief explanation. Thank you.
by J295
Sat May 29, 2021 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting stock and cost basis
Replies: 22
Views: 1403

Re: Gifting stock and cost basis

No tax to the recipient upon receipt of the gift.

The recipient takes your cost basis in the gift, and does not have recognize gain until they sell.
by J295
Sat May 29, 2021 10:36 am
Forum: Personal Finance (Not Investing)
Topic: "Signatory" on Another Person's Bank Account
Replies: 11
Views: 1002

Re: "Signatory" on Another Person's Bank Account

According to the frequently asked question site, Bank of America will provide a limited power of attorney form along with a signature card which seem to work for your situation.
by J295
Tue May 25, 2021 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Opportunity - should I take it?
Replies: 23
Views: 4023

Re: Opportunity - should I take it?

Well your mileage may vary, I chose time over money. I have a couple of things that help me when I make decisions like this. One, I’m known for following the adage, “you can’t follow your own path if you’re on the road to another person’s city.”Similarly, I like a statement an elderly client said to...
by J295
Wed May 19, 2021 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Online Bank Recommendations
Replies: 63
Views: 5250

Re: Seeking Online Bank Recommendations

Had highly unsatisfactory experience with Ally re wire transfers. I have experience with wires. I started the process 10 days before the time sensitive mid six figure funds were needed and fortunate that I did. We are nearly 40 years with Fidelity and been pleased. Went to Ally for CD rates but will...
by J295
Wed May 19, 2021 11:05 am
Forum: Personal Consumer Issues
Topic: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?
Replies: 211
Views: 14287

Re: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?

Early retired 2013, and bought new Lexus GX 460 in 2016. During the early kid years we had a minivan, followed by sedans that were driven up to 100,000+
by J295
Mon May 17, 2021 8:40 pm
Forum: Personal Investments
Topic: Ally Bank Wire Timing
Replies: 5
Views: 522

Ally Bank Wire Timing

Started a wire process May 6 regarding two CDs (one of husband one of wife). Multiple phone calls and chats resulted in one CD being closed and wired May 13, and the other remains in process for no known reason. (Wiring of the remaining one was promised in a chat for Friday and then for today, but n...
by J295
Mon May 10, 2021 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Losing Motivation in Work - 5 Years To Go - Suggestions?
Replies: 131
Views: 12403

Re: Losing Motivation in Work - 5 Years To Go - Suggestions?

Galawdawg offers valuable comments and direct response to the question. Not responding directly to your question on how to make the next five years enjoyable but will note that when I retired eight years ago at 53 I did not let the insurance tail wag the dog, and I was completely comfortable with gi...
by J295
Sun May 09, 2021 8:52 pm
Forum: Personal Investments
Topic: What does your bond portfolio look like in this low interest world?
Replies: 65
Views: 6028

Re: What does your bond portfolio look like in this low interest world?

Consistent with my IPS since my retirement in 2013.
by J295
Sun May 09, 2021 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Hired College Friend
Replies: 8
Views: 1113

Re: Hired College Friend

Normchad advice makes sense.
by J295
Sat May 08, 2021 10:02 am
Forum: Personal Investments
Topic: Filing Non-Resident State Taxes for MLP Energy Companies
Replies: 4
Views: 335

Re: Filing Non-Resident State Taxes for MLP Energy Companies

Confused by your statement that said you paid the federal and state income taxes?

Are you receiving taxable distributions, rather than nontaxable return of capital?
by J295
Sat May 08, 2021 8:39 am
Forum: Personal Investments
Topic: Tips to convince my Dad about Index Funds?
Replies: 57
Views: 4754

Re: Tips to convince my Dad about Index Funds?

Has your dad asked you to give him advice?
by J295
Fri May 07, 2021 9:00 pm
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 5092

Re: Country Club

For me, the main question to answer is - are we a country club family? If the answer to that is yes, then the second question is - are the members of this country club people we are comfortable with? If that answer is yes, then you've made your decision. It's a very personal decision. Me, I can't e...
by J295
Fri May 07, 2021 9:27 am
Forum: Personal Finance (Not Investing)
Topic: really necessary to split up CD's at different banks?
Replies: 12
Views: 1179

Re: really necessary to split up CD's at different banks?

relentless1 wrote: Fri May 07, 2021 9:18 am Actually, not apples to apples, Goldman is a federally chartered retail bank. Lehman not. Think Chase, B of A.et al
Number bank failures in 2018 in 2019 combined: 4

Number of bank failures in 2009 in 2010 combined: 297
by J295
Fri May 07, 2021 9:21 am
Forum: Personal Finance (Not Investing)
Topic: really necessary to split up CD's at different banks?
Replies: 12
Views: 1179

Re: really necessary to split up CD's at different banks?

We recently sold our primary home and leased a home in this crazy environment for the next year. I'm planning holding several high yield CD's totaling over 7 figures at Marcus with.65 rate. Does this forum really think diversifying banks is really necessary? If the economy stumbles enough for Goldm...
by J295
Fri May 07, 2021 9:05 am
Forum: Personal Consumer Issues
Topic: Country Club
Replies: 56
Views: 5092

Re: Country Club

Sounds like lots of reasonable reasons to do this. Go for it.
by J295
Thu May 06, 2021 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to merge C Corp and S Corp? [Medical Group]
Replies: 4
Views: 243

Re: Best way to merge C Corp and S Corp? [Medical Group]

Retired lawyer. Former hospital board chair.
Contact your lawyers and accountants.
by J295
Thu May 06, 2021 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: IRS not answering the phone
Replies: 54
Views: 3431

Re: The IRS does not answer the phone

Perhaps things are a bit different now, but in my experience from early 2000 through my retirement eight years ago this is not a recent phenomenon. Dealing with the IRS was extremely difficult, in terms of substance and communications. For anything of material consequence I suggest proceeding in wri...
by J295
Wed May 05, 2021 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of breaking a lease
Replies: 25
Views: 1606

Re: Logistics of breaking a lease

My suggested solution for the tenant… He should find another qualified tenant and present him/her to the landlord. The landlords I know would generally hold a tenant to the terms of the lease. The prospects of an unhappy tenant damaging the property don’t enter into the equation in terms of a resolu...
by J295
Wed May 05, 2021 5:39 pm
Forum: Investing - Theory, News & General
Topic: How big is the risk of sustained huge stock market decline?
Replies: 106
Views: 11083

Re: How big is the risk of sustained huge stock market decline?

I believe SPY was down about 50% over 16 months time during the great recession, and it was a 48 month recovery time from peak back to breakeven. One of the challenges about such a time is you don’t know when you will get to the end of the tunnel (as you watch your equity balances get cut in half, b...
by J295
Wed May 05, 2021 5:27 pm
Forum: Investing - Theory, News & General
Topic: Lawsuits and taxable accounts
Replies: 30
Views: 2472

Re: Lawsuits and taxable accounts

Good responses hootingsloth and Gill.

Execution on assets, including brokerage accounts, does occur when judgments are not voluntarily satisfied.
by J295
Mon May 03, 2021 9:25 am
Forum: Personal Investments
Topic: Is 70/30 too aggressive? Portfolio help!
Replies: 39
Views: 5867

Re: Is 70/30 too aggressive? Portfolio help!

70/30 is aggressive but reasonable, especially if you have substantial International equities. This is my exact asset allocation and I plan on retiring next year. As stocks keep moving higher, we keep buying bonds (and hold our nose) to rebalance to our target AA. Good for you. We were 100% equitie...
by J295
Sun May 02, 2021 7:01 pm
Forum: Investing - Theory, News & General
Topic: Customizing The Glidepath
Replies: 45
Views: 5295

Re: Customizing The Glidepath

nedsaid wrote: Sun May 02, 2021 6:28 pm At age 61, I am now at 63.5% of stocks. It feels like I have been selling like crazy and yet the market has been so powerful that I feel like I have been running in place. So much for de-risking.

Thanks for update!!
by J295
Sun May 02, 2021 6:02 pm
Forum: Personal Investments
Topic: Is 70/30 too aggressive? Portfolio help!
Replies: 39
Views: 5867

Re: Is 70/30 too aggressive? Portfolio help!

Can you manage MAGI to get PTC under ACA? We have done so in early retirement to the tune of about mice annual savings on health insurance premiums… $0 this year instead of $25,000 for example.

Need help with acronyms let me know.
by J295
Sun May 02, 2021 5:49 pm
Forum: Investing - Theory, News & General
Topic: Customizing The Glidepath
Replies: 45
Views: 5295

Re: Customizing The Glidepath

Bumping in case any retirees or near retirees that have commented above want to follow up, or anyone else wants to post.
by J295
Sat May 01, 2021 11:27 am
Forum: Investing - Theory, News & General
Topic: High value tax advantaged account questions
Replies: 44
Views: 2885

Re: High value tax advantaged account questions

Former partner in a law partnership and I had no difficulty in deciding to max contribute to 401(k) and no regrets. Retired early, but when working the tax savings by virtue of the contributions made sense to me.

We will deal with the RMD issues.

Ymmv.
by J295
Fri Apr 30, 2021 5:13 pm
Forum: Personal Investments
Topic: Eliminating bonds?
Replies: 61
Views: 6084

Re: Eliminating bonds?

We were 100% equity until early retirement in 2013. Then reduced.

I will say the almost 50% drop over 16 months in the Great Recession was quite unnerving even for someone like me with a solid job and nearly 30 years of investment experience.
by J295
Thu Apr 29, 2021 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirement and ACA insurance costs? 60-65 yo.
Replies: 26
Views: 3041

Re: Early Retirement and ACA insurance costs? 60-65 yo.

Retired from full-time in 2013 at 53 and we’ve been on the ACA since it was ruled constitutional. Married couple, with wife generating self-employment income. We managed modified adjusted gross income to stay below the cliff, and our net annual cost for a bronze plan has been $0 per year. For an exa...
by J295
Tue Apr 27, 2021 1:55 pm
Forum: Personal Consumer Issues
Topic: First time to Hawaii with family
Replies: 55
Views: 4667

Re: First time to Hawaii with family

We enjoyed Kihei a couple of years ago. Eight of us spent a week there in a nice large Vrbo with a pool, including a two year old. We had no interest in island hopping.

We flew two for the price of one due to Southwest credit card promotion (companion passes).
by J295
Tue Apr 27, 2021 12:55 pm
Forum: Personal Investments
Topic: Sell today ?
Replies: 36
Views: 5034

Re: Sell today ?

I think it depends on the size of the portfolio. If $150,000 is a substantial portion, sell now. If it isn't, let it ride, as in the grand scheme of things it won't matter all that much. Broken Man 1999 Good point. May also be impacted by AA. For example we have equity, bonds, and cash so we would ...
by J295
Mon Apr 26, 2021 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

I don't know how the SE health insurance deduction and itemized deductions might interact, but don't you only get to deduct medical expenses over 7.5% of AGI? Unless you have high medical expenses other than insurance premiums it seems like you'd be better off with the SE health insurance deduction...
by J295
Mon Apr 26, 2021 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

Curious, why you were choosing silver instead of bronze? At least in our state, at 366% of poverty level and a bronze the typical bronze plan would pay $0 as the premium tax credit would cover all premiums. Certainly there might be some cost sharing on co-pays in the like with the silver, but do the...
by J295
Mon Apr 26, 2021 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

Re. the SE health insurance deduction, on what form or worksheet do I find that? Schedule 1 line 16. Empty. Maybe I did screw it up. FWIW, I do itemize and did fill out the Medical Expenses Worksheet that applies to Schedule A, line 1. Probably empty because your premium tax credits were fully subs...
by J295
Mon Apr 26, 2021 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

You can Google “solo 401(k) calculator” and try out a couple of sites and you will see that the maximum contribution for a solo 401k is substantially more than what I understand you are currently doing. Additional deferrals will free up tax space for the capital gains/cliff.
by J295
Mon Apr 26, 2021 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

Re. the SE health insurance deduction, on what form or worksheet do I find that? Schedule 1 line 16. Empty. Maybe I did screw it up. FWIW, I do itemize and did fill out the Medical Expenses Worksheet that applies to Schedule A, line 1. Probably empty because your premium tax credits were fully subs...
by J295
Mon Apr 26, 2021 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: The ACA subsidy cliff reprieve and capital gains harvesting
Replies: 23
Views: 1258

Re: The ACA subsidy cliff reprieve and capital gains harvesting

1. Do you max out your solo 401(k) ? 2. Do you max out your HSA? * including catch-up contributions for one and two. 3. Do you have a donor advised fund, if charity is of interest to you? 4. Do you have any interest or ability in reducing self-employment income ? I’d probably move towards liquidatin...
by J295
Mon Apr 19, 2021 7:05 pm
Forum: Personal Investments
Topic: $1,000,000 In An Ally Savings Account?
Replies: 67
Views: 10935

Re: $1,000,000 In An Ally Savings Account?

Did this a year ago with $1 million. Married with four CDs, two at Marcus two at Ally — all with full FDIC coverage. Online registration and funding was straightforward. CDAR is another option, as are online savings accounts. American Express Bank also has a easy to use online savings account. It do...
by J295
Sun Apr 18, 2021 6:55 pm
Forum: Personal Investments
Topic: Where to put $400K To Be Used For College Expenses in 5 years?
Replies: 26
Views: 2778

Re: Where to put $400K To Be Used For College Expenses in 5 years?

High yield savings accounts. Perhaps CDs if rates increase.

You can seek value increases through other assets.