Search found 3568 matches

by NotWhoYouThink
Wed Mar 27, 2024 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Penna. executor's fees for handling will?
Replies: 26
Views: 1396

Re: Penna. executor's fees for handling will?

gunny2 wrote: Wed Mar 27, 2024 1:16 pm It's not complicated...

Again thanks for the replies. I'll ask for a breakdown of things (which I think we would get eventually anyway).
Sounds like a good idea to let him know you'll be asking. A similar estate in my family was settled with absolutely no documentation of costs. It was clear that if we had insisted the executor would have had to pull a number from the air, because no records were kept. A real mess. Most of it was outside probate (trusts and beneficiary designations) so the probate court never saw it.

The "income tax" issue above is that the executor fees will be taxable income to the executor. You can't force him to report the fees to the IRS on his 1040, but he ought to.
by NotWhoYouThink
Wed Mar 27, 2024 9:31 am
Forum: Personal Finance (Not Investing)
Topic: $90K 48 mos loan at 3% OR outright purchase
Replies: 42
Views: 1988

Re: $90K 48 mos loan at 3% OR outright purchase

Will you be paying for collision/comprehensive coverage either way?

If you take the loan, the lender will insist that you have this coverage.

If you pay cash, you can insure for liability only, and save some money. Maybe more than you'd make investing, maybe not.
by NotWhoYouThink
Wed Mar 27, 2024 6:58 am
Forum: Investing - Theory, News & General
Topic: Boeing (BA) stock: at some point it has to be a bargain
Replies: 196
Views: 19338

Re: Boeing (BA) stock: at some point it has to be a bargain

The Boeing CEO that presided over the 737 Max disaster was an engineer, Dennis Muilenberg. That's why the board trusted him. The McDonnell Douglas CEO that became Boeing CEO when Phil Condit got chased out was an Engineer turned MBA. Within a year of the merger with McDonnell Douglas, the Boeing Commercial production lines had to come to a standstill while Boeing figured out what parts and engineering documents were where. That wasn't caused by the merger, that's the looming disaster that CEO Condit saw that led him to believe a merger was needed. (The joke in STL was that it only took a year for McD to teach Boeing how to lose money on commercial aircraft.) The defense business kept the company solvent while the commercial side of the hous...
by NotWhoYouThink
Sat Mar 23, 2024 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Filing Kid's Tax Returns and Roth Contributions
Replies: 14
Views: 661

Re: First Time Filing Kid's Tax Returns and Roth Contributions

She should be filing.

I used to ride my bike to the library to get the paper forms to file. She can probably file on her phone. Why would you do that for her?
by NotWhoYouThink
Fri Mar 22, 2024 4:29 pm
Forum: Personal Investments
Topic: Inheritance
Replies: 16
Views: 2025

Re: Inheritance

Don't worry too much about paying taxes. Especially don't let your dread of taxes cause you to rush your decision. You've got a lot of things to do, and this doesn't have to take priority. Anyway, you won't pay taxes on transactions that occur within your inherited IRA and Roth IRA accounts. You will have to look into some details to see how soon you need to start withdrawing from those accounts, but you can move them before that. You won't be paying 1-2%/month to the advisor, but 1-2%/year. It's not ideal, but taking a month or 2 to plan is better than doing something drastic fast you'll have to undo. The trust account is a different animal. Do you have the trust documents? Is this a trust that your mother had, that she left to you in trus...
by NotWhoYouThink
Fri Mar 22, 2024 9:43 am
Forum: Personal Finance (Not Investing)
Topic: At what age to tell child about family's finances
Replies: 74
Views: 6100

Re: At what age to tell child about family's finances

Are you going to give your kids money for a down payment on a house? Now, or when they are 30, or never?

Are you going to spring for a big wedding?

Do you have enough money to pay for your care in your 70s, 80s, 90s? How do you know?

Do you plan to leave your fortune to the Society for the Extinction of the Spotted Owl, or to your offspring?


That's the kind of information the adult kids need.
by NotWhoYouThink
Sun Mar 17, 2024 1:46 pm
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 210
Views: 23822

Re: Anybody heard stories of well "prepared" retirees running out of money?

We have friends whose retirement plans were significantly altered by financial fraud. They invested in Stanford International Bank CDank he should have realized the unusually high commissions he was getting were a red flag). None of them ended up eating cat food, but they did not enjoy the comfortable retirement complete with lots of exotic travel that their peers did. I recall discussions with colleagues who retired in 2000 and 10 years later, their portfolios had gone sideways (as did the market that decade). They were starting to sweat and adjusting their spending plans. Yes, we knew a family who invested heavily in Stanford CDs. The back story is their long time financial advisor changed companies, and went to Stanford. The friends sta...
by NotWhoYouThink
Wed Mar 13, 2024 11:47 am
Forum: Personal Consumer Issues
Topic: Kid's Accounts and How They Use Them
Replies: 22
Views: 2093

Re: Kid's Accounts and How They Use Them

We didn't have family members giving gifts except for $20 or $50 here or there. We let them spend or save it as they chose.

If our young kids had gotten more money, we would have started savings accounts earlier, and would have let them withdraw some for vacation spending, and maybe even for Legos.

We absolutely did not require that they give 10% of their gift money to charity. Or any money to charity. The point of giving to charity is that it is voluntary. Involuntary giving is taxation.

We did let our kids know that we give to charity, and solicited their input on some of those gifts.
by NotWhoYouThink
Tue Mar 12, 2024 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Letter to heir - what would you include?
Replies: 90
Views: 7798

Re: Letter to heir - what would you include?

Theseus wrote: Tue Mar 12, 2024 2:30 pm
exodusNH wrote: Tue Mar 12, 2024 12:45 pm Be aware that "fee-only" advisors can still work under an AUM model.
I believe those are called Fee-based. Fee-only don't do AUM - that I know. I will write about this in the letter as well.
The specific definition of "Fee Only" is something that I have only seen or heard of on bogleheads.org, and does not seem to be generally used or understood outside this community.

Fee-based and fee-only mean the same thing, that the advisor is paid a fee (AUM or other) rather than a commission on trades. Almost all AUM advisors will call themselves fee-only.

If you want to suggest to them to pay a one-time fee, or an hourly fee for advice only, you can use that kind of phrasing.
by NotWhoYouThink
Tue Mar 12, 2024 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Letter to heir - what would you include?
Replies: 90
Views: 7798

Re: Letter to heir - what would you include?

lazynovice wrote: Tue Mar 12, 2024 1:28 pm We gave explicit permission to sell everything- house, cars, personal belongings- to an estate sale company. No worrying about keeping certain belongings "in the family."
That is very generous of you.
by NotWhoYouThink
Thu Mar 07, 2024 10:31 am
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4879

Re: Alaska trip without taking a cruise - help

We had a great planes, trains, and automobile trip to Alaska a few years back. Plus a bus, a few boats, and could have added a helicopter.

It wasn't cheap. The state is big, and the summer tourism season is short. We decided to pay up to make good use of our time.

Denali (note it is wilderness - no marked/maintained/mapped trails for hiking, but you can pay a guide to show you some cool places.)
Fairbanks
Alaska Railroad
Kenai Peninsula
Homer
Could have added a trip to the Arctic Circle and the Pipeline.

Plenty of good places, and great food for us as omnivores. We told a long-time travel agent what kind of trip we wanted, and she stitched it together for us.
by NotWhoYouThink
Thu Mar 07, 2024 10:21 am
Forum: Investing - Theory, News & General
Topic: Argument against people that say stock market is rigged, so don’t invest in it
Replies: 80
Views: 5750

Re: Argument against people that say stock market is rigged, so don’t invest in it

Betting on individual stocks, or trying to time the market, are about as risky as sports betting. Buying and holding index funds is different. Even though there is some amount of insider trading that isn't caught, the broader market has tended toward growth for quite a while. Is there an index for sports betting that has the track record of the S&P 500? A good sports bettor can win a lot, but do those bettors bet their entire portfolio on every bet, or even put their entire portfolio in play over the course of a year? Your entire portfolio is compounding away all the time, even while you vacation in Vegas. If your BIL enjoys the thrill of the chase, he'll keep betting. You'll hear about all the big wins, and about few if any of the loss...
by NotWhoYouThink
Tue Feb 27, 2024 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with/spend too much money?
Replies: 91
Views: 9036

Re: How to deal with/spend too much money?

We have thought about and tried to justify helping family. A suggestion to pair up with a family member on an expensive toy went unheard of, never to be brought up again. An effort to help another single parent family member was perhaps poorly presented, was not well received, and we were told that if we gave them money it should only be done without condition. We've donated small amounts to two charities. We've already upgraded to better underwear, socks, shoes. We have the same friends. Giving away money well is something of an art. I agree with your family member that money given away should be without strings. It also should feel like a gift, not like charity when family is involved. Some people will feel more resentful over you thinki...
by NotWhoYouThink
Mon Feb 26, 2024 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Paying for Care of Elderly Uncle
Replies: 62
Views: 6631

Re: Advice on Paying for Care of Elderly Uncle

One point for you and your parents and siblings -

DO NOT, under any circumstances, sign anything that even might be considered accepting financial responsibility for his care. He has plenty of resources, no need for him not to have the best care available, but the assisted living/nursing homes will go after whoever they can get money from the easiest. Make sure that is not you.

The social worker is a great start, congratulations. You'll need a lawyer. And as others have said, someone will likely have to be named as conservator, which he won't like. The world, and even your family, have no obligation to be his servants. Sounds like he is already being treated with compassion.

Good luck.
by NotWhoYouThink
Sat Feb 24, 2024 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Mailing in a State paper return
Replies: 6
Views: 870

Re: Mailing in a State paper return

Turbo Tax rarely gets my estimated tax payments right or even close, so I ignore them and do what makes sense.

My state asks for all 1099s and W-2s, so that's what they get in the mail - we can't file electronically because of some of the tax credits we use.
by NotWhoYouThink
Tue Feb 20, 2024 3:03 pm
Forum: Personal Consumer Issues
Topic: 4-6cyl turbo suv
Replies: 24
Views: 2928

Re: 4-6cyl turbo suv

If it doesnt have to be a turbo, Mazda has a very nice naturally aspirated 2.5l engine with a lot of great engineering in it. Very reasonable gas milage and a bargain in the CX-5 and CX-50, too. Especially in the Select trim. Higher CX-5 trims do have a Turbo option. We have the CX-5 with the Turbo Signature level trim. Lots of power, but not as good highway mileage as our old Acura with a 6 cylinder. It checked all of the boxes except for gas mileage when we got it but a some of the 'features' are somewhat of a nuisance. One in particular is the intervention braking if one is approaching, from the rear, a car making a right hand turn. Even at its least proactive setting it can be unsettling. You can turn it off but need to do it each time...
by NotWhoYouThink
Mon Feb 19, 2024 2:45 pm
Forum: Personal Consumer Issues
Topic: 4-6cyl turbo suv
Replies: 24
Views: 2928

Re: 4-6cyl turbo suv

The Mazda CX-5 keeps coming out on top in my recent comparisons that included many of the models mentioned above. I am not interested in an EV of any type. The higher trim level for the Mazda compete with the luxury brands, the lower trim levels do well against Toyota and Honda.

Largely a matter of taste.
by NotWhoYouThink
Sun Feb 18, 2024 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Assisted living tax deductible?
Replies: 3
Views: 447

Re: Assisted living tax deductible?

My Mom's CCRC provided a letter to residents every year telling them how much of their annual (or maybe monthly) payment was deductible.
by NotWhoYouThink
Tue Feb 13, 2024 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Distribution of living parent's estate: which bucket first?
Replies: 17
Views: 1364

Re: Distribution of living parent's estate: which bucket first?

Plenty of people live to be 100+ these days. Some of those people still post on this board.

People who can pay for nice Assisted Living and even Skilled Nursing care are generally better cared for than people who depend on Medicaid. Maybe you and your siblings will live long enough to inherit, maybe not. But your mom's care, for one more year or 15 more years, should be the priority.
by NotWhoYouThink
Sat Feb 03, 2024 7:49 pm
Forum: Personal Consumer Issues
Topic: Antartica, tips, ideas, suggestions, experiences
Replies: 23
Views: 2617

Re: Antartica, tips, ideas, suggestions, experiences

Just got back from an Abercrombie & Kent Antarctica expedition. Two days to and from Antarctica from Ushuaia (Tierra Del Fuego, Argentina) across the Drake passage. Five days of 2-a-day zodiac trips to the continent or islands seeing penguins and elephant seals. Fantastic experience. Whales, icebergs, interesting passengers, great food and wine. Educated guides.

Several companies have Antarctica destinations. Check out the offerings and reviews. Hope you enjoy your adventure.
by NotWhoYouThink
Tue Jan 30, 2024 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Windfall Amid Family Drama
Replies: 96
Views: 17363

Re: Real Estate Windfall Amid Family Drama

Thanks for coming back with the update!

I am sorry that your father remains distant, but congratulate you on making the choice that you did.
by NotWhoYouThink
Mon Jan 29, 2024 8:10 pm
Forum: Personal Consumer Issues
Topic: The Exercise Coach 2x weekly program
Replies: 61
Views: 27107

Re: The Exercise Coach 2x weekly program

I started at Exercise Coach with individual coaching, because in my 6+ decades of life I had no experience whatever with gyms or strength training, other than some do-it-yourself books. Plenty of walking and hiking, some jogging (bad idea for me) and general activity, but no strength training. After 6 months, switched to the group sessions, which are less expensive but still monitored by coaches. Good - Most efficient use of time of any service provider I know of. Walk in, met by trainer, start a circuit, done in 20 minutes. - Can add 5 minutes of HIIT on the bike after the workout, optional - Coaches are trained to actively "coach" on form, early and often. Things you lifetime exercisers know to do or avoid aren't intuitive to no...
by NotWhoYouThink
Sun Jan 28, 2024 8:04 pm
Forum: Investing - Theory, News & General
Topic: Has anyone changed their asset allocations in retirement
Replies: 19
Views: 1587

Re: Has anyone changed their asset allocations in retirement

Not on purpose, but the equity part keeps growing faster than I can spend/donate it. I've had to rebalance, need to do it again.
by NotWhoYouThink
Sun Jan 28, 2024 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: What would you do if you found someone else's lost credit/debit card?
Replies: 42
Views: 3643

Re: What would you do if you found someone else's lost credit/debit card?

Found it near but not that near Starbucks - called the number on the card, they thanked me and told me to dispose of it.

Found it at the zoo - turned it in to customer service.
by NotWhoYouThink
Sun Jan 28, 2024 7:03 am
Forum: Personal Consumer Issues
Topic: Are there any reliable refrigirators with water dispenser on door?
Replies: 58
Views: 4783

Re: Are there any reliable refrigirators with water dispenser on door?

Life is full of risk.

The risk of a failure in the refrigerator door water dispenser is not that great. We've had ours for 15 years. The water worked. When our daughter used the ice maker every day to crush ice and ice down her knees after running we had a failure in that mechanism. We replaced it, and bought some freezer gel packs for her knees.
by NotWhoYouThink
Sat Jan 27, 2024 2:53 pm
Forum: Investing - Theory, News & General
Topic: Preparing for a talk with my financial advisor
Replies: 78
Views: 10110

Re: Preparing for a talk with my financial advisor

So have you had a talk with him? How did it go?
by NotWhoYouThink
Fri Jan 26, 2024 10:51 am
Forum: Personal Investments
Topic: Buyers Remorse Over Inherited Merrill Wealth Management IRA
Replies: 41
Views: 2749

Re: Buyers Remorse Over Inherited Merrill Wealth Management IRA

1.4% is no such thing as thievery. It's pricey, but you get something for it. If your brother is not analytical and disciplined, it might be just right for him. He'd have a "guy" at Merrill, and many/most people like having a "guy." Someone who makes decisions. Someone to blame if things go bad. Someone to compare to your friend's "guy." If you don't need a "guy", if you are above-average in discipline and analytic skills, then 1.4% is an expense you don't need to pay. So move to Merrill Edge, or Vanguard, or anywhere else where you can design your own low-cost portfolio. But talking your brother into moving his account might be a mistake. Merrill might be pricey, but they have an office tower or 3 fu...
by NotWhoYouThink
Sun Jan 21, 2024 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Mom wants to give me her IRA, her advisor wants me to inherit it
Replies: 16
Views: 2146

Re: Mom wants to give me her IRA, her advisor wants me to inherit it

Inherit in 20 years?

Your original post didn't give us much to work with. More info would lead to better guidance.
by NotWhoYouThink
Sat Jan 20, 2024 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Cancel my health insurance?
Replies: 102
Views: 13163

Re: Cancel my health insurance?

“you’ve gotta ask yourself one question: “Do I feel lucky?” Well, do ya, punk?”

That's about it. Great money saver if you stay mostly healthy. Financially devastating if you don't.
by NotWhoYouThink
Sat Jan 20, 2024 10:05 am
Forum: Personal Finance (Not Investing)
Topic: I'm having a hard time deciding if I should pick Medigap Plan G or Plan N because of my history
Replies: 165
Views: 16278

Re: I'm having a hard time deciding if I should pick Medigap Plan G or Plan N because of my history

The brokers like and seem to nudge toward Medicare Advantage, and most people go that way and love it.

My philosophy on insurance has been that I'll pay to insure against catastrophic events, and take my risks on the small stuff. That got me to the N/G/G High deductible decision loop common on this board.

2 things pushed me to G, and others will have other priorities.
- Simplicity - I know what I have to pay with G, and after that the insurance covers it. I could handle more complexity now, but what about in 20 years, or with chemo-brain?
- Thanks to a life of boglehead-like saving and investing, I can pay the G premiums without missing the money. It's an affordable luxury.
by NotWhoYouThink
Sat Jan 20, 2024 9:48 am
Forum: Personal Finance (Not Investing)
Topic: My father (Boglehead by proxy) passed away
Replies: 35
Views: 5438

Re: My father (Boglehead by proxy) passed away

Condolences for your loss, and well wishes for the job you have taken on as executor. You are going to be inundated with information, and will deal with it as you can, but remember that your sister and aunt/uncles will know you are doing something, but won't understand what, or what the timeline is. Please consider periodic (monthly for your sister, less frequently perhaps for others?) updates on what you are doing, so they don't feel excluded. Doesn't need to be detailed probably, but just - "I talked with the lawyer about the house, and the brokerage about the accounts. Something should happen in xx days/weeks/months..." When my FIL died, the eldest was executor, and we heard zero/nada/zilch until one day he showed up at our hou...
by NotWhoYouThink
Fri Jan 19, 2024 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: How to make FAFSA-conscious decisions?
Replies: 60
Views: 5277

Re: How to make FAFSA-conscious decisions?

Nothing at all wrong with saving to pay for college for your kids. It's a choice, and different families will make different choices. Some will pay full price for any college, some will pay nothing for any college. Everything in between is fair game, not my job to tell people what to pay for college and why. If you decide you want to pay towards your kids' college education, a 529 is a fine way to save.
by NotWhoYouThink
Fri Jan 19, 2024 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: How to make FAFSA-conscious decisions?
Replies: 60
Views: 5277

Re: How to make FAFSA-conscious decisions?

Most of this has been said, but... FAFSA is a commonly used application for aid, it is not a source of aid. There is no FAFSA pile of money. The money (aside from Pell grants) comes from the schools. There isn't much need-based aid available at most schools for most students. There is a lot more merit aid. The schools with the most need-based aid have the lowest admission rates, and it's risky to bet on getting into those years in advance unless you have a substantial hook. With these schools, FAFSA is just the start, they will require a deeper dive into your finances before they grant aid. Tax-deferred retirement savings are generally excluded. A great plan is for a student who wants to go to college to have high grades in hard classes, go...
by NotWhoYouThink
Fri Jan 19, 2024 9:31 am
Forum: Personal Consumer Issues
Topic: Honda CRV alternatives
Replies: 22
Views: 2028

Re: Honda CRV alternatives

Snow/ice generally not an issue in my area. Offroad/towing, not applicable. I do admit that I've gotten used to the Odyssey V6, so I don't want to go back down. Budget... most likely I'll go the Boglehead route and get something used in the 25K mileage neighborhood. Hopefully used cars prices will start to subside a bit over the next year. Oh, my yes! Good times with that V-6, fully loaded moving kids to/from college, luggage carrier on top, and passing on hills at highway speeds with ease and confidence. That's hard to give up, and you won't get it with a CRV. That may be ok with you, but it spooked me when I drove my mom's CRV, which was perfect for her needs. Guess I need to check dashboard-light.com on the Mazda engine issues before I ...
by NotWhoYouThink
Fri Jan 19, 2024 7:18 am
Forum: Personal Consumer Issues
Topic: Honda CRV alternatives
Replies: 22
Views: 2028

Re: Honda CRV alternatives

CRV is hard to beat for storage capacity and price, but last I tried one it drove like a slug and many people find the seat extremely uncomfortable. Not me, but it's a common complaint.

Mazda CX-5 is a good option. You can stick with the affordable base model, or trick it out to the point that it's favorably comparable to the Lexus or BMW- more capacity, same bells and whistles, cheaper.

I used Edmunds side-by-side to compare models.

We kept our Odyssey for 180K as the primary car, and for another 30K as the driveway-parked occasional work horse. Probably will never have a better combination of utility, comfort, and reliability, but it aged out.
by NotWhoYouThink
Tue Jan 16, 2024 10:01 am
Forum: Personal Investments
Topic: Inherited TIRA Questions
Replies: 14
Views: 930

Re: Inherited TIRA Questions

Assuming you will start Medicare at 65, look at the IRMAA tables to see how much your income will affect your Medicare payments. Your Medicare rates in 2030 will be affected by your 2028 income. It might make sense to drain the IRAs substantially before 2028 to avoid thousands of dollars in extra Medicare payments.

Don't be scared off by taxes on high IRA values - it's always better to have more assets and more income even if it means more taxes. But you might want to consider the timing of the income depending on tax rates (that are currently expected to increase due to the expiration of the TCJA cuts in 2026) and things like IRMAA.
by NotWhoYouThink
Mon Jan 15, 2024 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: FIL+MIL Tax returns not filed for 10+ years. What should I do?
Replies: 30
Views: 4938

Re: FIL+MIL Tax returns not filed for 10+ years. What should I do?

Your attorney will advise you to consider the case where she pre-deceases him. It happens.
by NotWhoYouThink
Sun Jan 14, 2024 8:35 am
Forum: Personal Consumer Issues
Topic: Family of 4 debating 3 row SUV
Replies: 71
Views: 8115

Re: Family of 4 debating 3 row SUV

Cool is important more to the young families. The grandparents I know love their minivans.
by NotWhoYouThink
Sat Jan 13, 2024 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: I'm having a hard time deciding if I should pick Medigap Plan G or Plan N because of my history
Replies: 165
Views: 16278

Re: I'm having a hard time deciding if I should pick Medigap Plan G or Plan N because of my history

One benefit of plan G is easy billing - you pay your premium and Part B deductible, the plan covers the rest. I hope. I've been on it almost 3 months now. Before that I helped my mom and MIL/FIL with their bills as they got older and unable to handle their finances. Fortunately, they were on plan F (MIL/FIL) and MegaCorp super duper retiree insurance, so there were almost no bills. They had to pay for dental and glasses, but that's it. When you go to 1-3 doctors per week, the paperwork and billing get to be a challenge. I can handle the challenge now that my medical care is minimal and I have my brain cells in order, but picked plan G as the easiest to manage when I'm older and sicker. That's what pushed me to plan G rather than G High Dedu...
by NotWhoYouThink
Sat Jan 13, 2024 3:26 pm
Forum: Investing - Theory, News & General
Topic: Preparing for a talk with my financial advisor
Replies: 78
Views: 10110

Re: Preparing for a talk with my financial advisor

What is your purpose in having a "talk" with your advisor? It will be impossible to have a discussion that leads you both to better insights about how your money should be managed, because you have different interests. You want your money managed in a way that benefits you, he wants to keep charging you money. You just started looking into investment theory 2 days ago, and he spends all day, every day selling his services to bring in new clients and keep the old one. If he fails, he starves. If he is not starving, and especially if he seems to be living well, then he is very very good at selling. His skill and expertise is not investment management, it is sales. If he is with one of the larger companies, he has his marching orders...
by NotWhoYouThink
Sat Jan 13, 2024 2:48 pm
Forum: Personal Consumer Issues
Topic: Upcoming travel to Argentina: cash or card? If cash, USD or ARS?
Replies: 20
Views: 3655

Re: Upcoming travel to Argentina: cash or card? If cash, USD or ARS?

We were in Buenos Aires and Ushuaia in December.

Most places took credit cards, many would accept clean, crisp, unmarked US dollars. We tipped guides and restaurants in USD. I tried to buy something in Ushuaia with USD, which the clerk seemed to prefer, but there were ink marks on some of the dollars so we went back to the Visa.

Guides and concierges warned over and over about pickpockets, warned not to wear expensive watches or jewelry.

We were there the first day of Milei's administration. It was crazy how close you could get to the government buildings while he was there. New days there, or maybe more of the old days.
by NotWhoYouThink
Fri Jan 12, 2024 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Future taxes on unrealized gains as a liability when calculating net worth?
Replies: 36
Views: 3384

Re: Future taxes on unrealized gains as a liability when calculating net worth?

When calculating my future withdrawals, I plan for some % of those to go to taxes. So maybe I need $120K of withdrawals a year to support $100K of spending. (Those aren't the real numbers, but just nice round easy to type ones.) I attribute different tax rates to different income sources - pension, SS, IRA RMDs, and brokerage account withdrawals (here is where unrealized gains might come in, if/after I work off all the tax losses harvested). Also there are taxes on all those pesky dividends in the brokerage account, which I may or may not spend all of, but always get taxed on. The price paid for having enough to need to account for taxes on the income the assets produce. Also I calculate net worth because it provides some useful information...
by NotWhoYouThink
Fri Jan 12, 2024 9:50 am
Forum: Personal Consumer Issues
Topic: Does a SUV have more utility than a sedan?
Replies: 297
Views: 159472

Re: Does a SUV have more utility than a sedan?

A van has the most utility imho. We have a Sienna, rx 350, and accord. Can fit a couch in the van. Seats 6 adults easy. Has a 3.5L V6 and tows our little old boat. Of course it hurts people’s ego to drive one. I don’t let those people borrow it. As a boglehead I don’t get my ego mixed up with what is most practical to drive, own, buy, etc. in the USAF as a fighter pilot we have a saying about if you have a large watch You are making up for having other short comings. Kinda like a cowboy with a big hat has no cattle. Agree. I bought a minivan last year and use it as a work vehicle. I have all the seats rows out. It has extreme flexibility for moving cargo. 10' lumber fits in just fine if I pop out the center console. I rarely have a need fo...
by NotWhoYouThink
Fri Jan 12, 2024 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Concerned my elderly parents are spending too much of retirement portfolio
Replies: 69
Views: 10567

Re: Concerned my elderly parents are spending too much of retirement portfolio

Could be a lot of donations to their church, or could be a lot of "donations" to "charities." At their age, they will get a staggering number of solicitations.

Does brother live near them? Someone needs to, soon, if you want them to get humane care. 5 minutes away from one of you is life-changingly better than 30 minutes away. A few hours away and you won't really know or be able to control what their care is like.

The money is covered, as you have been adequately reassured here. You need to start following a good memory care board. That will just have to become one of your priorities for a few years.
by NotWhoYouThink
Thu Jan 11, 2024 10:05 am
Forum: Personal Consumer Issues
Topic: Family of 4 debating 3 row SUV
Replies: 71
Views: 8115

Re: Family of 4 debating 3 row SUV

You're parents. Get a minivan.

You can pay more for a fancy SUV that will do a worse job of accommodating both people and cargo. But it will look cool on the road and people won't laugh at you. Or you can buy something functional. I made my choice (Toyota Previa/Honda Odyssey) You make yours.
by NotWhoYouThink
Wed Jan 10, 2024 6:34 pm
Forum: Personal Consumer Issues
Topic: Does a SUV have more utility than a sedan?
Replies: 297
Views: 159472

Re: Does a SUV have more utility than a sedan?

Bogleheads! For a while now I am looking to opportunistically replace my current car. The market for SUVs is fairly tight but sedans are attractively priced. Now I am wondering if anyone has substantiated if an SUV really has more utility than a sedan? To me, when I look at the interior space of front seats, head room, back seats, trunk space, fuel consumption etc. this all looks very comparable. So, why are SUVs then all the rage and sedans are not? Heck, you even get decent discounts off MSRP if you buy one. Even at Toyota or Honda. Are SUVs structurally more sound than a sedan? From the NCAP ratings it seems rather not. I must be missing something here. What do y'all think? Yes, SUV has more utility, but not as good as a minivan. As an ...
by NotWhoYouThink
Tue Jan 09, 2024 9:29 am
Forum: Personal Consumer Issues
Topic: Does a SUV have more utility than a sedan?
Replies: 297
Views: 159472

Re: Does a SUV have more utility than a sedan?

This thread moved so fast I missed a page or 2 of posts, but where is the love for minivans?

If you are a road warrior and want to drive a lot of miles in comfort, a big sedan is the way to go.

If you want to haul lots of people sometimes and lots of stuff other times, a minivan is way to go.

If you need to tow heavy things, a pick-up truck is better than a SUV is better than a minivan.

There exist people who are shamed into thinking it matters that minivans don't look "cool", but when I owned minivans I never had to ask to borrow anyone's SUV to haul stuff, but the reverse happened several times.
by NotWhoYouThink
Mon Jan 08, 2024 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate Windfall Amid Family Drama
Replies: 96
Views: 17363

Re: Real Estate Windfall Amid Family Drama

Your father may well think it is a good deal for you, and it may well be a disaster of a project for you. You don't have to impute any ill will to him to confidently walk away.
by NotWhoYouThink
Sun Jan 07, 2024 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Letter CP2000--529 Issues
Replies: 29
Views: 3128

Re: IRS Letter CP2000--529 Issues

This is a recurring issue, and based on the dozens of posts on this forum over the years I can't see any association with filing status, or whether you pay the money directly to the university, or any other common factor. It happened once to us over 7 years of having kids in college. We responded as below. No receipts, no spreadsheets no details. Never heard about it again. 10 October 2015 To: IRS Reference: CP2000 for Tax Year 2013, Dated 5 October 2015 Reference: Taxpayer NotWhoYouThink We have received the reference letter, and do not agree with the proposed changes to our 2013 taxes. The reason we do not agree is that MOST Missouri 529 Plan withdrawal of $XY,000 was for qualified educational expenses as summarized below. Calendar Year 2...