Search found 1267 matches

by FoolStreet
Sun Apr 18, 2021 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?
Replies: 21
Views: 2093

Re: Inherited non-IRA brokerage account, but firm is not responding, what course of action do I have?

Have you followed all of these steps? https://support.vanguard.com/triage/coo/EC9092EF Yes, there is an advisor assigned from our contact back months ago before the will was probated, and he is the one not returning any calls for weeks now. Now that it is probated, we need to do the next steps to t...
by FoolStreet
Sun Apr 18, 2021 4:20 pm
Forum: Personal Investments
Topic: Turning over accounts to 18 year old
Replies: 13
Views: 1320

Re: Turning over accounts to 18 year old

I wanted to get the board's wisdom regarding this issue. Teen will be 18 next year, and so far has a small Roth IRA (that bank of dad has been matching earned income from food service job). Also, is beneficiary of a 529 which can cover in-state tuition. There is zero chance of qualifying for any ne...
by FoolStreet
Fri Apr 16, 2021 10:01 pm
Forum: Investing - Theory, News & General
Topic: Schwab trying to dissuade me from Vanguard bond funds
Replies: 25
Views: 3447

Re: Schwab trying to dissuade me from Vanguard bond funds

Best way to get Vanguard bond funds at schwab is via ETF purchases. I have done this and never had anyone discourage me. I think their are some transaction costs if your prefer mutual fund form, so I would agree direct is better for mutuals, or Schwabs own mutual fund. Vanguard CA Munis are not ava...
by FoolStreet
Fri Apr 16, 2021 9:55 pm
Forum: Investing - Theory, News & General
Topic: Schwab trying to dissuade me from Vanguard bond funds
Replies: 25
Views: 3447

Re: Schwab trying to dissuade me from Vanguard bond funds

I own enough assets at Schwab to be considered a "high net worth investor". Even though some of these funds are at Schwab (for various logistical reasons) I prefer to purchase Vanguard muni funds to be held at Schwab. Some of these funds do not have Admiral status so I recently transferre...
by FoolStreet
Thu Apr 15, 2021 9:18 pm
Forum: Personal Investments
Topic: Fired Financial Adviser - need advice for 70 yo mother
Replies: 46
Views: 3528

Re: Fired Financial Adviser - need advice for 70 yo mother

Again, I would sell everything in the tax-deferred accounts. And then decide on an asset allocation. You're trying to balance between safety and growth, so I would be totally fine if you invested in a classic 60% stock/40% bonds ETF once the portfolio is simplified. It doesn't seem as if you're try...
by FoolStreet
Thu Apr 15, 2021 11:24 am
Forum: Personal Investments
Topic: Fired Financial Adviser - need advice for 70 yo mother
Replies: 46
Views: 3528

Re: Fired Financial Adviser - need advice for 70 yo mother

Going from ETFs to Mutual funds does not simplify. It complicates. Mutual funds from another brokerage (Vanguard held at Schwab) likely costs money to buy. An ETF doesn't. So if you're trying to load up on VTSAX, buy VTI. The end. If at some point you decide to move from Schwab to Fidelity or eTrad...
by FoolStreet
Wed Apr 14, 2021 4:26 pm
Forum: Personal Investments
Topic: Fired Financial Adviser - need advice for 70 yo mother
Replies: 46
Views: 3528

Re: Fired Financial Adviser - need advice for 70 yo mother

Simplify. No ETFs. 3 low-cost index funds. Absolutely agree with you. Which three do you recommend? How should I allocate? (I will post her specific investments in original post.) This was confusing for me: to implement a 3-fund boglehead portfolio using index funds - either ETF or Mutual Fund some...
by FoolStreet
Sun Apr 11, 2021 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 238
Views: 12073

Re: The primary factor for picking a College/University is out of pocket cost

For example, if you go to an elite law school your undergrad is a lot less important. Of course, your undergrad school reputation is a significant factor in getting admitted into an elite law school. I am not necessarily disagreeing with the thesis of this thread, but attending a higher-ranked unde...
by FoolStreet
Sun Apr 11, 2021 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 238
Views: 12073

Re: The primary factor for picking a College/University is out of pocket cost

Two, they are hard to get into so a kid able to make it into Harvard can probably get a full ride at the local flagship state school. This is going to vary some depending on where you live, but for many states, if your kid can't get a free ride or something close to a strong in-state school, the ot...
by FoolStreet
Sun Apr 11, 2021 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Ed Slott's new book NEW RETIREMENT SAVINGS TIME BOMB
Replies: 154
Views: 11259

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

Don’t forget about state taxes. Many will be living in other states like Cali. Want it or not California doesn't tax SS benefits. By the way, I keep seeing the term Cali to refer to the State of California. Generally, those of us in California simply use CA (or So Cal to refer to the sprawling LA b...
by FoolStreet
Sun Apr 11, 2021 1:12 pm
Forum: Investing - Theory, News & General
Topic: Anyone else hoarding cash right now?
Replies: 262
Views: 33101

Re: Anyone else hoarding cash right now?

My standard 3 fund is up 10% YTD (80-20). Not patting myself on the back, but just making the point that we never know which way the market is going, so set an AA and let it ride.
by FoolStreet
Sun Apr 11, 2021 2:09 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.
Replies: 407
Views: 46834

Re: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.

Amazing... Disney heir trust issues... https://trib.com/news/state-and-regional/crime-and-courts/disney-grandsons-trustees-moving-ahead-with-wyoming-ranch-sale-against-his-wishes/article_f406c88b-213d-5ef7-a03b-2793e5a438f9.amp.html In January, trustees told Lund he could pay just over $34 million (...
by FoolStreet
Sat Apr 10, 2021 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable subtrusts
Replies: 22
Views: 1160

Re: Irrevocable subtrusts

The co-trustee(s) need not be a bank or trust company. Depending on who's available, it could be friends, family members, or business or professional associates of the beneficiary or of the testator. However, a corporate trustee is sometimes an appropriate choice. They're generally reasonable in de...
by FoolStreet
Fri Apr 09, 2021 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable subtrusts
Replies: 22
Views: 1160

Re: Irrevocable subtrusts

Whether your mom could take the money out herself depends on the terms of the trust. If written as bsteiner would have suggested, she would need an independent trustee to make the distribution of trust assets to her. However, that does not matter. What matters are the terms of the trust she has. I ...
by FoolStreet
Thu Apr 08, 2021 9:56 am
Forum: Personal Consumer Issues
Topic: What EV to buy for 20k-25k?
Replies: 68
Views: 6283

Re: What EV to buy for 20k-25k?

You should not keep any EV for 10 years. You should be buying new and then selling after one year, for essentially no money out of pocket, or even a $1-2k profit. Also, plugging into a regular outlet won’t give you 40-50 miles, unless you literally don’t drive the car anywhere and it’s plugged in 2...
by FoolStreet
Tue Apr 06, 2021 1:18 pm
Forum: Personal Investments
Topic: Financial advisor help
Replies: 22
Views: 2154

Re: Financial advisor help

Hi, My wife and I have gone down the financial advisor route previously, had problems, and now have opinions on what we want and don’t want. * We are NOT looking for an advisor to perform active fund management (e.g. day trading, options trading, etc.). This is what our previous manager did - we wa...
by FoolStreet
Tue Apr 06, 2021 10:46 am
Forum: Personal Investments
Topic: Help MIL redeploy assets and simplify
Replies: 8
Views: 701

Re: Help MIL redeploy assets and simplify

Get a copy of the trust document to see who is the trustee and what rights and responsibilities th trus has. He asssmption is that she controls the trust, but that might not be true. The fund selection implies it was professionally managed.
by FoolStreet
Tue Apr 06, 2021 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Inheriting Annuity-
Replies: 23
Views: 1523

Re: Inheriting Annuity-

Thanks for the replies! Sister is very upset that “disinherited sibling” would receive anything and has vowed to go to anyone/ everyone who could fight in removing disinherited sibling and 2 dead sibling from claiming annuity money but that would also remove my husband and make her sole beneficiary...
by FoolStreet
Mon Apr 05, 2021 10:56 am
Forum: Personal Consumer Issues
Topic: My Next Car: Tesla S vs BMW 540iX
Replies: 25
Views: 2937

Re: My Next Car: Tesla S vs BMW 540iX

Hoping that the auto enthusiast crowd here might provide some insights into a decision I am considering: Whether to make my next car purchase a Tesla S Long Range ($75K) or a BMW 540iX ($69K as equipped). Price really is not a factor in the decision. Pluses for the Tesla: Electric- charged by my so...
by FoolStreet
Sun Apr 04, 2021 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

[ Minor math, but if you assume 35% tax rate no matter when it is withdrawn, it does not matter when or how you withdraw the IRA (you will get the same net result whether you withdraw it all in year 1, 10, or spread out in 10 or less chunks). However, you have 10 years to spread out the tax hit, so...
by FoolStreet
Sun Apr 04, 2021 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

[ Option 2: The tIRA’s $1m of investments will remain within the tIRA as long as possible to grow without taxation, until the end of the 10th year per the SECURE Act. The tIRA has grown to $1.63m but when paid to the trust’s beneficiary, is taxed at an effective rate of 35%, reducing the investment...
by FoolStreet
Sun Apr 04, 2021 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

[ Option 2: The tIRA’s $1m of investments will remain within the tIRA as long as possible to grow without taxation, until the end of the 10th year per the SECURE Act. The tIRA has grown to $1.63m but when paid to the trust’s beneficiary, is taxed at an effective rate of 35%, reducing the investment...
by FoolStreet
Sat Apr 03, 2021 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

A note on the tax implications: Although we are talking of the income at which the trust reaches the 37% bracket, most, perhaps all of the income of the trust is likely to be qualified dividends or capital gains . For a $1M trust invested 60/40, the stock component might generate 2% qualified divid...
by FoolStreet
Sat Apr 03, 2021 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Schwab as trustee. Your thoughts?
Replies: 28
Views: 4661

Re: Schwab as trustee. Your thoughts?

Thanks for the information about your experiences with Schwab Trust Services! Because I may also consider using Schwab as a trustee in the near future, I am curious about how they are managing your trust's investments. Are they willing to use low-cost index funds, or do they insist on utilizing hig...
by FoolStreet
Fri Apr 02, 2021 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

There is at least one family home and investment property(ies). The home is in HCOL, so there is a lot of reason to keep the home and rent it out as an inflation hedge. At an estate of $5M or more over time, its a lot anywhere else, but if the home is sold, I don't expect the heir to be able to buy...
by FoolStreet
Thu Apr 01, 2021 1:00 pm
Forum: Personal Investments
Topic: TLH Muni Bonds VTEB&CMF to MUB&CMF
Replies: 17
Views: 1420

Re: TLH Muni Bonds VTEB&CMF to MUB&CMF

My usual recommendation for CA taxable investors is a 50/50 split between Limited-Term Tax-Exempt and CA Long-Term Tax-Exempt, so that only half the bonds are in CA but more than half the income is exempt from CA tax. Question -- How risky is it to go for National Intermediate than Limited? It's ab...
by FoolStreet
Thu Apr 01, 2021 10:56 am
Forum: Personal Consumer Issues
Topic: Family car
Replies: 86
Views: 6707

Re: Family car

I’m looking to buy a family car to transport 5 people including two kids in car seats. My top contenders are Kia Telluride/ Hyundai Palisade. It’s killing me that I’m not only buying a gas guzzler, but about to drop $45k on it. I really thought my next car would be an electric car, but there aren’t...
by FoolStreet
Wed Mar 31, 2021 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

Is the property income generating? In the family for generations? Or just your current home? Are you planning on the guardian living in the home? In other words, why even keep the property in the first place if you want vanguard to be the trustee? If the property is that important, you're probably ...
by FoolStreet
Wed Mar 31, 2021 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

What did you mean about the real estate when you said, "the ability to buy or sell real estate alone, without the other trustee." -- What did you mean, "without the other trustee?" I have a ton of questions about the interaction between the two trustees, from a practical perspec...
by FoolStreet
Tue Mar 30, 2021 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

All the recent posts on Trusts are spurring me to want to finalize our own Trust plans. I'm in a holding pattern with our lawyer because they have some questions that I need to answer. <snip> We set up a trust while our kids were 12 and under and never got around to updating it (actually re-doing t...
by FoolStreet
Tue Mar 30, 2021 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

All the recent posts on Trusts are spurring me to want to finalize our own Trust plans. I'm in a holding pattern with our lawyer because they have some questions that I need to answer. This sounds like you are married. If your spouse is also a parent for the child, you should be talking to your spo...
by FoolStreet
Tue Mar 30, 2021 6:04 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 402
Views: 291577

Re: Please Try Out Test Posts Here

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by FoolStreet
Tue Mar 30, 2021 6:01 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 402
Views: 291577

Re: Please Try Out Test Posts Here

Test


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by FoolStreet
Tue Mar 30, 2021 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

Great points, thank you. It does not sound like you need a corporate trustee at all. If your individual trustee needs tax advice, they can go to a CPA or tax lawyer (if it is so complicated that a CPA does not know). No need to pay a corporate trustee a percent of assets year in and year out on the ...
by FoolStreet
Tue Mar 30, 2021 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

So, first of all, it is extraordinarily unlikely you will leave your child an orphan before your child comes of age. Extraordinarily unlikely in today's world. Maybe it was more common a few hundred years ago, but nearly unheard of today. 1. Yes. Just do it and go with the lawyer's standard recomme...
by FoolStreet
Tue Mar 30, 2021 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Re: Trust Questions with co-trustee

Do we typically have to name the co-trustees and financial planners in the trust documents? If your trust allows amendment, you could add them later. (Are "financial planners" supposed to be distinct from "co-trustees"?) I think that is the best course is to consider that tax la...
by FoolStreet
Tue Mar 30, 2021 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Questions with co-trustee
Replies: 22
Views: 1579

Trust Questions with co-trustee

All the recent posts on Trusts are spurring me to want to finalize our own Trust plans. I'm in a holding pattern with our lawyer because they have some questions that I need to answer. Would love some collective wisdom from folks here. Background - Estate is currently mid-7 digits. Still working and...
by FoolStreet
Mon Mar 29, 2021 10:06 pm
Forum: Personal Consumer Issues
Topic: sold $100 item on eBay...got bill from them for $200 shipping!
Replies: 50
Views: 6900

Re: sold $100 item on eBay...got bill from them for $200 shipping!

I just sold a lite but long item (less than 1lb) on eBay for $100. I preprinted the shipping label and brought to local UPS store. I gave it to a young gal to box, she put it in a huge 6' long box and said the shipping label would cover. Item was going to HI. A week later ebay billed me $205 for sh...
by FoolStreet
Mon Mar 29, 2021 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

I am curious as to whether others have updated their trust provisions since the passage of the Secure Act at the end of 2019, which stopped the stretch treatment of inherited IRAs for non-eligible designated beneficiaries (i.e. adult children) and so the advantage of conduit trusts over discretiona...
by FoolStreet
Mon Mar 29, 2021 2:45 pm
Forum: Personal Consumer Issues
Topic: What Outlets in preparation for electric cars?
Replies: 100
Views: 6743

Re: What Outlets in preparation for electric cars?

One more thing... in California, no one uses their garage. There must be some other California in which no one uses their garage, because I've seen plenty of garages in this California with cars parked in them, most garages, in fact. My garage in California has two vehicles parked in it. My neighbo...
by FoolStreet
Mon Mar 29, 2021 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

If you don't mind, I am trying to follow your excellent article on naming a trust as IRA beneficiary, so let me try to clarify. 1. "Because a CRT is tax-exempt, it may take the retirement benefits in a lump sum tax-free." At the decedent's death, is the IRA then legally owned entirely by ...
by FoolStreet
Sat Mar 27, 2021 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and trusts
Replies: 159
Views: 8632

Re: Secure Act and trusts

My wife and I recently updated our living trust as a result of the Secure Act and for a few other reasons. We have an only child (son, 31 years old) who will be the beneficiary of our trust and will be getting married soon. Vanguard National Trust Corporation (VNTC) will be the successor trustee ma...
by FoolStreet
Thu Mar 25, 2021 9:14 pm
Forum: Investing - Theory, News & General
Topic: Investment strategies for high net worth individuals
Replies: 86
Views: 11419

Re: Investment strategies for high net worth individuals

Ressurecting this thread as it seems better to continue this conversation vs. start a new thread I think there's definitely different tax consideration once you get beyond certain dollar amount in the taxable. If marginal tax rate is > 50% (fed 37% + CA 10.3% + NIIT), investment consideration relat...
by FoolStreet
Wed Mar 24, 2021 12:19 pm
Forum: Personal Consumer Issues
Topic: What Outlets in preparation for electric cars?
Replies: 100
Views: 6743

Re: What Outlets in preparation for electric cars?

Because my 259 mile range 2021 Chevy Bolt has been set to stop charging at 80% (my personal needs, maybe not yours), I chose to set my Grizzl-E EVSE to 24-amp charging, although I have a 50 Amp outlet for it. This is a good point. You can set your car to charge at a lower rate than the wires in the...
by FoolStreet
Wed Mar 24, 2021 12:36 am
Forum: Personal Consumer Issues
Topic: What Outlets in preparation for electric cars?
Replies: 100
Views: 6743

Re: What Outlets in preparation for electric cars?

...I recommend spending a little more up front to get more power. While you can make the argument that it will charge overnight, I feel better knowing my car can charge at 44mph. Can you explain how that happens? I always thought the car had to be stationary to be charged. There's a little differen...
by FoolStreet
Tue Mar 23, 2021 8:46 pm
Forum: Personal Consumer Issues
Topic: What Outlets in preparation for electric cars?
Replies: 100
Views: 6743

Re: What Outlets in preparation for electric cars?

Whoa this thread blew up Yes we’re doing a reno with tradesmen coming. And 3 néw PHEV/EV are in our future in the next 5 hrs We have 400 amp service In general, it is better to leave your car plugged in to let the onboard battery manager maintain the battery for optimal health. Typically, you set t...
by FoolStreet
Sun Mar 21, 2021 10:33 am
Forum: Personal Investments
Topic: TLH Muni Bonds VTEB&CMF to MUB&CMF
Replies: 17
Views: 1420

Re: TLH Muni Bonds VTEB&CMF to MUB&CMF

My usual recommendation for CA taxable investors is a 50/50 split between Limited-Term Tax-Exempt and CA Long-Term Tax-Exempt, so that only half the bonds are in CA but more than half the income is exempt from CA tax. Question -- How risky is it to go for National Intermediate than Limited? It's ab...
by FoolStreet
Sat Mar 20, 2021 9:01 pm
Forum: Personal Investments
Topic: TLH Muni Bonds VTEB&CMF to MUB&CMF
Replies: 17
Views: 1420

Re: TLH Muni Bonds VTEB&CMF to MUB&CMF

At current yields, you are paying more in extra expenses compared to VTEB than you are saving on CA tax. (You might have higher or lower yields depending on CA versus national bond rates, but that is a compensation for risk; CA bonds only yield more than non-CA bonds if investors believe they are r...
by FoolStreet
Sat Mar 20, 2021 8:21 pm
Forum: Personal Consumer Issues
Topic: 2021 Sunglasses Thread 😎
Replies: 62
Views: 4686

Re: 2021 Sunglasses Thread 😎

As I just finished driving directly into the 5:30pm Florida sun, I’m ordering new sunglasses TONIGHT. It’s my first time driving at this time given I’ve been working from home. I literally could barely see anything and my eyes hurt/seeing spots 🤦🏻‍♂️ I have a pair of $10-15 sunglasses from ZeroUV w...
by FoolStreet
Sat Mar 20, 2021 8:13 pm
Forum: Personal Investments
Topic: TLH Muni Bonds VTEB&CMF to MUB&CMF
Replies: 17
Views: 1420

Re: TLH Muni Bonds VTEB&CMF to MUB&CMF

Do you have any shares you have held six months or less? If you do, you have to decrease your capital loss on those shares by the amount of dividends they paid in the last six months. Also, VTEB and MUB track the same index; ask your tax advisors whether this makes them substantially identical and ...