Search found 76135 matches

by livesoft
Sun Jun 13, 2021 12:58 pm
Forum: Personal Consumer Issues
Topic: Receiving money for someone else
Replies: 29
Views: 1440

Re: Receiving money for someone else

anon_investor wrote: Sun Jun 13, 2021 12:56 pmSounds like you didn't go on a cush expat assignment where your company pays someone to do all that legwork for you.
That's quite the understatement. :)
by livesoft
Sun Jun 13, 2021 12:50 pm
Forum: Personal Consumer Issues
Topic: Receiving money for someone else
Replies: 29
Views: 1440

Re: Receiving money for someone else

Presumably he already has an international drivers license and will get a Texas driver license. Plus a few credit cards that work in the US, too. You did not state the nationality, but he may have US citizenship, so this should all be pretty easy. I'd like to follow this and see what happens. Year a...
by livesoft
Sun Jun 13, 2021 12:28 pm
Forum: Personal Consumer Issues
Topic: Receiving money for someone else
Replies: 29
Views: 1440

Re: Receiving money for someone else

I do not see why you need to be involved. Since the son won't get the money until he has a bank account, his parents can wire the money directly into the son's bank account when that account is open. Why bother you with this at all?
by livesoft
Sun Jun 13, 2021 11:47 am
Forum: Personal Consumer Issues
Topic: Tire flat fixing for beginners
Replies: 71
Views: 2421

Re: Tire flat fixing for beginners

I have seen teenagers figure out how to change a flat and then change it. They whipped out their phones, brought up the YouTube videos right there on the roadside and did the deed. I also know that my son broke a jack while trying to change a tire.
by livesoft
Sun Jun 13, 2021 11:18 am
Forum: Personal Investments
Topic: Taxable account or non-deductible tIRA? [Discontinue nondeductible contributions?]
Replies: 66
Views: 3479

Re: Taxable account or non-deductible tIRA? [Discontinue nondeductible contributions?]

Livesoft , is selling something in a settlement account a taxable event? Or is it some kind of special thing with no taxes? Sorry, don't have one, never even seen one, and don't know how they work. I've always assumed it is something like a money market fund, but don't know that for sure. It is lik...
by livesoft
Sun Jun 13, 2021 11:13 am
Forum: Investing - Theory, News & General
Topic: Question about how/why the super-rich pay so little in tax
Replies: 29
Views: 1845

Re: Question about how/why the super-rich pay so little in tax

My impression is that they are using the same technique as everyone else to not have to pay back loans: They die. Their estate pays back the loans.
by livesoft
Sun Jun 13, 2021 9:40 am
Forum: Personal Investments
Topic: Where is your Solo 401k?
Replies: 9
Views: 567

Re: Where is your Solo 401k?

Fidelity for many years. Very happy. I don’t find mailing a check once a year a tremendous burden. Is the once a year deposit a paperwork issue? With my personal accounts, I make frequent contributions, usually as soon as the money in hand. Would this be unadvisable with a solo 401k? I only make a ...
by livesoft
Sun Jun 13, 2021 9:35 am
Forum: Personal Investments
Topic: Taxable account or non-deductible tIRA? [Discontinue nondeductible contributions?]
Replies: 66
Views: 3479

Re: Taxable account or non-deductible tIRA? [Discontinue nondeductible contributions?]

The only choices that I'm given for both dividends and capital gains are either to reinvest, transfer to settlement fund, transfer to a bank account or send me a check. Have your distributions from the health care fund go to your settlement account. When the distributions from the health care fund ...
by livesoft
Sun Jun 13, 2021 9:29 am
Forum: Personal Investments
Topic: Extremely lazy investing
Replies: 63
Views: 4569

Re: Extremely lazy investing

Another extremely lazy investing idea: 100% Total US Stock Market Index in all accounts! :twisted:
by livesoft
Sun Jun 13, 2021 8:09 am
Forum: Personal Investments
Topic: Where is your Solo 401k?
Replies: 9
Views: 567

Re: Where is your Solo 401k?

Mine is at TDAmeritrade. I make contributions once a year by walking into the local office and depositing a check. The office is next to a favorite grocery store and restaurant, so I add stops to those as well. I have never tried to make an online deposit, so I just logged in now to see if that is p...
by livesoft
Sat Jun 12, 2021 3:23 pm
Forum: Personal Investments
Topic: Lump sum into Wealthfront to offset large capital gains?
Replies: 20
Views: 1104

Re: Lump sum into Wealthfront to offset large capital gains?

.... Even to think about tax loss harvesting as "making lemonade out of lemons" situation is not entirely accurate because you are lowering your cost basis, so you are increasing the amount of capital gain tax you will pay in the future. Well, one can avoid your scenario of increasing the...
by livesoft
Sat Jun 12, 2021 12:32 pm
Forum: Personal Investments
Topic: Lump sum into Wealthfront to offset large capital gains?
Replies: 20
Views: 1104

Re: Lump sum into Wealthfront to offset large capital gains?

Thanks for the insights. What about liquidity? When you sell it take a couple of days until the trade has been settled so you cannot immediately buy something else because of lack of cash during those days. Doesn't that introduce risk? This is false. As long as the sale proceeds stay within the sam...
by livesoft
Sat Jun 12, 2021 12:25 pm
Forum: Personal Investments
Topic: Another three-day settling question
Replies: 10
Views: 1246

Re: Another three-day settling question

In this case I sold a Vanguard ETF (instantaneous) and transferred the money to my bank’s checking account (takes a few hours). What happens during the three business days it takes to move the funds from “available for trading” to Settlement? The ACH transfer to your checking account took the extra...
by livesoft
Sat Jun 12, 2021 12:16 pm
Forum: Personal Investments
Topic: Lump sum into Wealthfront to offset large capital gains?
Replies: 20
Views: 1104

Re: Lump sum into Wealthfront to offset large capital gains?

If you tell me what you buy and when you buy it -- either here or in a PM --, then I will set up an alert and send you a PM when you should tax loss harvest. I want you to get the point that setting up the alert is much much much more trivial than opening a Wealthfront account. I agree tax-loss har...
by livesoft
Sat Jun 12, 2021 11:00 am
Forum: Personal Investments
Topic: Lump sum into Wealthfront to offset large capital gains?
Replies: 20
Views: 1104

Re: Lump sum into Wealthfront to offset large capital gains?

Lump-sum investing makes it trivial to do tax-loss harvesting yourself. You would have only a single lot to look at. You could even have your brokerage text or e-mail you an alert for some predetermined loss. It would take one single transaction to do the TLH deed. I can see how high income folks co...
by livesoft
Sat Jun 12, 2021 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Is my graduating senior a dependent? AOTC considerations?
Replies: 45
Views: 1816

Re: Is my graduating senior a dependent? AOTC considerations?

This was us a year ago, except our adult child was 24 years old. The only question was "Could my independent adult child claim something on his tax return for himself?" The LLC is a nonrefundable credit, so since he paid no income taxes, he was not eligible for the credit. The reason he pa...
by livesoft
Sat Jun 12, 2021 5:12 am
Forum: Personal Investments
Topic: Treasury Direct?
Replies: 20
Views: 1883

Re: Treasury Direct?

rockstar wrote: Fri Jun 11, 2021 9:18 pm I'm thinking of buying $10k in I Bonds. ....

Are there any downsides to using Treasury Direct to buy them?
Is there any other way to buy them?
by livesoft
Fri Jun 11, 2021 5:36 pm
Forum: Investing - Theory, News & General
Topic: Treating all "Portfolio's" the same?
Replies: 4
Views: 506

Re: Treating all "Portfolio's" the same?

If one looks at the Associative and Commutative Laws of Pockets Arithmetic and one also understands that Money is Fungible, then one might come to conclusion that one should not worry too much about all this. But if one understands the Tax Laws of where they live and wants to minimize the tax cost o...
by livesoft
Fri Jun 11, 2021 4:08 pm
Forum: Personal Investments
Topic: A Left Brain/Right Brain Roth Dilemma
Replies: 19
Views: 2329

Re: A Left Brain/Right Brain Roth Dilemma

So your Roth IRA(s) are just being treated like a checking account it seems to me.
by livesoft
Fri Jun 11, 2021 4:02 pm
Forum: Personal Investments
Topic: Opening a Brokerage Account
Replies: 28
Views: 1494

Re: Opening a Brokerage Account

... You can still automate your contributions, no problem there. But you'll have to monitor AA drift. I am not a purest in this regard and do not believe that any investor has to be. We have a few accounts that have a single target date index fund in them and one account with a single target risk f...
by livesoft
Fri Jun 11, 2021 3:04 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 15578
Views: 1215910

Re: U.S. stocks continue to soar!

Today had a nice finish. Not sure why. I'm only looking because I hit another MMilestione.
by livesoft
Fri Jun 11, 2021 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for house downpayment
Replies: 6
Views: 522

Re: Saving for house downpayment

Thanks for sharing your experience. Just curious, was it like switching jobs and moving to new area with lower cost of living? Yes. And got a significant pay raise, too. Also, did you already know people there, Yes. or had to rebuild your social connections in the new area? Yes. Also kept social co...
by livesoft
Fri Jun 11, 2021 2:30 pm
Forum: Investing - Theory, News & General
Topic: Inflation: BND vs I-bonds vs T-bonds
Replies: 21
Views: 1761

Re: Inflation: BND vs I-bonds vs T-bonds

It looks like Inflation-protected bonds and I-bonds are now Meme-bonds!
by livesoft
Fri Jun 11, 2021 2:25 pm
Forum: Investing - Theory, News & General
Topic: Inflation: BND vs I-bonds vs T-bonds
Replies: 21
Views: 1761

Re: Inflation: BND vs I-bonds vs T-bonds

Folks probably missed their chance as shown by this chart. https://i.imgur.com/f3Wza9G.png I think that once we get a few months past the 12-month mark of the March 2020 stock market lows, things will look quite a bit different. That is, I think the rate of inflation will return to more normal level...
by livesoft
Fri Jun 11, 2021 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for house downpayment
Replies: 6
Views: 522

Re: Saving for house downpayment

We did #1. We ended up not buying a home as expected and moved to a different state where home prices were 1/3rd to 1/4th what we were expecting to pay and then bought a bigger house on more land and paid much much less. One can dial-in the risk they wish to accept by choosing their asset allocation...
by livesoft
Fri Jun 11, 2021 11:39 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3202

Re: No SS card no access to new ETrade account

BolderBoy wrote: Fri Jun 11, 2021 11:26 am Oh. Is this an ETrade-specific requirement?
I think it is a specific P.A.T.R.I.O.T. Act requirement.
by livesoft
Fri Jun 11, 2021 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Charitable Gift from Vanguard to TD Ameritrade
Replies: 2
Views: 202

Re: Charitable Gift from Vanguard to [my church]

This is easy to do. Vanguard has a form to fill out to transfer shares to any non-Vanguard account. You should call them up for help. Other brokerages do the same thing.
by livesoft
Fri Jun 11, 2021 11:18 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3202

Re: No SS card no access to new ETrade account

Lee_WSP wrote: Fri Jun 11, 2021 11:10 amIf he moves, it may not get to him. But like we said, it's his problem to solve.
True.

My son doesn't know it, but I am letting him do the mythical Fidelity study about dead clients: Will his Vanguard account(s) outperform his Fidelity account(s) since Vanguard might consider him dead? :twisted:
by livesoft
Fri Jun 11, 2021 11:09 am
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

an_asker wrote: Fri Jun 11, 2021 11:00 am I hear you. I understand it but probably Livesoft thought that OP doesn't, so that makes sense why Livesoft deleted [crossed out] the word.
:sharebeer
by livesoft
Fri Jun 11, 2021 10:57 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3202

Re: No SS card no access to new ETrade account

Lee_WSP wrote: Fri Jun 11, 2021 10:53 amHe would not learn it until it's to late to correct it though. Ten or twenty years of lost interest is quite bad.
Only if he didn't open and read the letter that Vanguard would be required to send him about what it was doing with his money.
by livesoft
Fri Jun 11, 2021 10:52 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3202

Re: No SS card no access to new ETrade account

Lee_WSP wrote: Fri Jun 11, 2021 10:50 amIt could end up in the state's unclaimed property account earning no interest if he continues to ignore it.
Yes, it could. That would be a good lesson for him, wouldn't it?
by livesoft
Fri Jun 11, 2021 10:51 am
Forum: Personal Investments
Topic: Another three-day settling question
Replies: 10
Views: 1246

Re: Another three-day settling question

In general at least for me, this T+something only applies to removing money from the account by transferring to another account. If I sell a mutual fund or an ETF, then money is immediately available to invest in something else within the same account. Since a mutual fund order is executed after the...
by livesoft
Fri Jun 11, 2021 10:42 am
Forum: Personal Finance (Not Investing)
Topic: No SS card no access to new ETrade account
Replies: 48
Views: 3202

Re: No SS card no access to new ETrade account

My child had to mail in some things to both Vanguard and Fidelity. He has not bothered to do so for Vanguard in about 5 years, so his Roth IRA and taxable account there have been "locked." He just doesn't care. His Fidelity Roth account was stupid because he had an active Fidelity-custodia...
by livesoft
Fri Jun 11, 2021 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Automatic transfers based on checking account balance (Does this exist?)
Replies: 20
Views: 1188

Re: Automatic transfers based on checking account balance (Does this exist?)

A financial planning firm I know will do this if you use the Fidelity CMA as your checking account. Of course, the firm's AUM fee obviates any benefit to you.
by livesoft
Fri Jun 11, 2021 9:34 am
Forum: Personal Consumer Issues
Topic: Tires for 2012 Subaru Forester
Replies: 25
Views: 1341

Re: Tires for 2012 Subaru Forester

justlearnin wrote: Fri Jun 11, 2021 12:43 amLivesoft, a bit presumptive wouldn't say?
I'm laughing because your tires probably don't have "dry rot." :) I was trying to help you determine if what you heard was legit or not.

The Internet is a harsh mistress, isn't it?
by livesoft
Fri Jun 11, 2021 8:50 am
Forum: Personal Consumer Issues
Topic: Income req’d to afford pricey private school tuition?
Replies: 18
Views: 1621

Re: Income req’d to afford pricey private school tuition?

I just have some advice, never say "I have to go to the john" in a Catholic school. I have to go see a man about a horse. You need to have the $70K plus the associated taxes which could be state+local income taxes + FICA + medicare. If your spouse has to go to work to pay for this, then i...
by livesoft
Fri Jun 11, 2021 7:40 am
Forum: Personal Investments
Topic: ETF vs Mutual Fund
Replies: 22
Views: 1746

Re: ETF vs Mutual Fund

And I use both. Neither is better. The other responses may help you make your own decision to use both.
by livesoft
Fri Jun 11, 2021 7:39 am
Forum: Personal Consumer Issues
Topic: Buying a new car during the chip shortage.
Replies: 32
Views: 2832

Re: Buying a new car during the chip shortage.

Reached out to dealers with the car I want and they are not budging on MSRP. We are takong a long trip this summer and I'd rather drive a new car than the old one. But paying full price for anything isn't going to happen. Maybe use your trip to buy the car elsewhere? I would say NYC is not a large ...
by livesoft
Fri Jun 11, 2021 7:29 am
Forum: Personal Consumer Issues
Topic: Buying a new car during the chip shortage.
Replies: 32
Views: 2832

Re: Buying a new car during the chip shortage.

The Honda salespeople I see at golf every week say they are very short of cars and selling everything at MSRP. One is expecting to take off the month of July due to not having cars to sell. That may be true in your neck of the woods, but we just bought a Honda in May and the dealers in Houston had ...
by livesoft
Fri Jun 11, 2021 5:06 am
Forum: Personal Consumer Issues
Topic: Buying a new car during the chip shortage.
Replies: 32
Views: 2832

Re: Buying a new car during the chip shortage.

Do the places you contacted actually have the specific vehicle you want on their lot? Or did you just contact all the Subaru dealers near you without knowing if they have the vehicle on their lot?
by livesoft
Thu Jun 10, 2021 8:33 pm
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

I am curious why you deleted the word backdoor. Isn't that the specific term for this Roth conversion or am I confused (too)? :oops: Backdoor means nothing in the context of this thread. The specific term in not needed especially when talking to Schwab, Vanguard, and reading the IRS forms and instr...
by livesoft
Thu Jun 10, 2021 7:22 pm
Forum: Personal Investments
Topic: Any reason to hold on to bonds now???
Replies: 50
Views: 5245

Re: Any reason to hold on to bonds now???

Swampy wrote: Thu Jun 10, 2021 11:22 am As bonds have dropped to such low returns,...
My VBTLX rose 2.3% since March 19, 2021. Are we living on the same planet?
by livesoft
Thu Jun 10, 2021 7:18 pm
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 16
Views: 1521

Re: Portfolio Review Request

I wonder if you saw this about portfolio review requests:
viewtopic.php?f=1&t=6212
by livesoft
Thu Jun 10, 2021 6:58 pm
Forum: Personal Consumer Issues
Topic: Tires for 2012 Subaru Forester
Replies: 25
Views: 1341

Re: Tires for 2012 Subaru Forester

I was making a point against someone saying basically that tires are all the same. That's an interesting interpretation of what I wrote. :) I do not believe that tires are all the same and I didn't write that. I do believe that all tires that would fit my car at the tire shops that I go to are exce...
by livesoft
Thu Jun 10, 2021 6:48 pm
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

One more thing. It will be likely that your nondeductible traditional IRA contribution has some growth before it is converted. It may grow by 1 cent or $10. Be sure to convert ALL of your nondeductible traditional IRA including any growth that it has. Form 8606 is your friend and on it you will sort...
by livesoft
Thu Jun 10, 2021 6:43 pm
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

2) The mechanics and timeline of the actual conversion process, funding, investing, converting are confusing as well… once I have accounts C and D set up, a new unfunded tIRA and new unfunded Roth IRA I intend to backdoor into ($0 balances with plans to fund the max $6k/yr going forward)… Assume I ...
by livesoft
Thu Jun 10, 2021 6:36 pm
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

As I understand it I cannot have or need to get rid of my rollover IRA at Schwab (A) as this is considered a tIRA. Taken at face value, the above statement is FALSE. You can have that IRA and do not need to get rid of it. However, if you have it, then you will have to declare as taxable income any ...
by livesoft
Thu Jun 10, 2021 6:28 pm
Forum: Personal Investments
Topic: Backdoor Roth confused and frustrated
Replies: 18
Views: 1566

Re: Backdoor Roth confused and frustrated

You can make a contribution to a nondeductible traditional IRA. IRS Form 8606 has a section that you fill out for that. You can convert any portion of your traditional IRAs to a Roth IRA without making any contributions to any Roth IRA or even to a nondeductible traditional IRA. You will have to dec...
by livesoft
Thu Jun 10, 2021 5:29 pm
Forum: Personal Investments
Topic: Does Transfer of ETFs from Fidelity to Vanguard close account?
Replies: 6
Views: 744

Re: Does Transfer of ETFs from Fidelity to Vanguard close account?

Easy to ask Fidelity about this. Maybe you have 1 cent in your settlement account?
by livesoft
Thu Jun 10, 2021 5:12 pm
Forum: Personal Consumer Issues
Topic: Elder care robotics
Replies: 34
Views: 2122

Re: Elder care robotics

According to estimates by AARP, there are currently about seven people aged 45-64 to care for each person who is 80 or older. By 2030 that figure is expected to fall to only four. By 2050 there will be fewer than three caregivers for every person over the age of 80. I think there will be more peopl...