Best (non-USAA) company for Umbrella policy?

[TheGipper]

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[TheGipper]

This is why it’s so important to be totally convinced of the rationale for a factor persisting long term. Otherwise, you’ll never be holding on and...

[TheGipper]

Looking for a better, lower cost option for a 3M policy, but prices on a 2M policy would also be helpful. Please include: 1) Size of policy 2) Annual Prem...

[TheGipper]

While we’re at it condense the first two years of “pre-clinical” into a three month crash course. Let’s get people working and saving ASAP!!...

[TheGipper]

If I’m “donating” 100M one day, I’ll just spend it directly (ie give $ directly to students, hire contractor to build a student center). I see...

[TheGipper]

Also don't forget to also do Roth conversions and Tax Gain Harvesting should you find their is "extra" income available to fit in the 24% bracket, and...

[TheGipper]

I agree with your plan essentially. I would elect to start distributions when you expect your wife to stop working (or immediately if you don't love ...

[TheGipper]

Seems all I do every year is rebalance into international equities and bonds. Again, Vanguard is predicting better long term returns for international...

[TheGipper]

JBME wrote: TheGipper wrote: Best case scenario would be to empty it first thing in retirement over a 5-10 year period, before one turns 70 and must take SS/RMDs. My wi...

[TheGipper]

Best case scenario would be to empty it first thing in retirement over a 5-10 year period, before one turns 70 and must take SS/RMDs. My wife has be...

[TheGipper]

Maybe the question would be more helpfully phrased as: please quote your non-USAA umbrella price for a 2-3M policy, and please state if it is bundled/unbundled,...

[TheGipper]

To spiritrider’s point: I agree there is no reason one has to use a money market fund for after tax contributions. I do it mainly to preserve simplicity ...

[TheGipper]

Seems fine. To simplify I might: 1). First max out my 18.5k pre-tax contributions and match. 2). Switch my future investment choice to money market ...

[TheGipper]

I also view them as “last to spend”, very likely legacy accounts. As such, I put Vanguard small cap value in mine, and Vanguard international small...

[TheGipper]

To Hatton’s point. The government wants to tax you on that same dollar as many times as it can. Earn it and pay state and federal income tax, FICA...

[TheGipper]

Another PlayStation Vue happy customer. When I researched a year ago it was a better value for us than Direct TV now or Sling TV. Superior channel lineup,...

[TheGipper]

I’m most interested in whether my MA Fidelity Index 529 will start to use these funds. It was already cheaper than UT, NY, and NV. Now it could be...

[TheGipper]

There is plenty of precedent for the executive branch and govt agencies altering inflation indexing methods without congressional approval. There wi...

[TheGipper]

The “my time is worth more than $500” argument is a faulty one. It can be applied to almost any aspect of life from car negotiations, to landscaping,...

[TheGipper]

Email “haggling” with the Internet salesmen is sooo much more pleasant than in person haggling, where they go to “check” with the floor manager.

[TheGipper]

+1 to above suggestion. Only thing additional to add is to check a forum like Edmonds to see what people are actually paying recently and in your are...

[TheGipper]

I use Amex SimplyCash Business Card, but not really for business spending, rather 3% restaurants, 5% cell phone bill, and 5% Staples/gift cards.

[TheGipper]

Carryover passive losses have no interaction with depreciation recapture, but can be used to offset capital gains at the time of sale, correct?

[TheGipper]

Could someone remind me why there is often such a large end of day discrepancy between VXUS (+2.4%) and VTIAX (+1.02%) despite being the MF/ETF equivalents. ...

[TheGipper]

Made a nice 1day 1+% on a large VTIAX purchase yesterday with hopefully more to come tommorrow based on how VXUS is trending. It’s hard to square m...

[TheGipper]

There is probably no scientific data to support doing this, and it is very unbogleheadish, but whenever the market has really bad day (my definition >2%...

[TheGipper]

Agree with PoF plan if the amount is substantial. Ideally timed to begin after BOTH spouses are retired and to finish before age 70.

[TheGipper]

Yup I checked my SS statement a few years ago and was startled by missing resident income. Visited and wrote a letter to my local SS office. Case was as...

[TheGipper]

It always strikes me how easy it is for "veterans" to give the advice of "stick with your AA" As most of us are painfully aware, few are savvy enoug...

[TheGipper]

Lithium wrote: After I cancel CSR, I will just use my BoA Travel Rewards card for restaurants and travel.  It pays 2.625% back in cash on everything, but the catch is you have to be in t...

[TheGipper]

To me these spreadsheets are most helpful as positive reinforcement to keep the savings going, similar to weighing yourself every so often while on a...

[TheGipper]

About $1000/mos for family of 6, BCBS HMO plan, deductible 4K. Annoying thing is it would be only about $300/mos if spouse was willing to go back to...

[TheGipper]

This is a very helpful exercise when comparing job opportunities, particular private practice with academics. Most new docs have no clue how to value...

[TheGipper]

For now just VWUIX & VMATX in accounts I control. My group cash balance plan holds a few actively managed stinkers mixed in but the overall ER is a tol...

[TheGipper]

LTC insurance is not for me. I could never trust an insurance product that is always in flux with unpredictable premium increases. I may take a hard...

[TheGipper]

Haven't read most of this thread so apologies if redundant, but interesting article on Evergreen Small Business blog yesterday on who qualifies as as...

[TheGipper]

justlearning wrote: TheGipper wrote: My New Years Goals (started today!): 1) Weight down to 170.  Since I have no will power with eating healthy, I will go back to my pr...

[TheGipper]

My New Years Goals (started today!): 1) Weight down to 170.  Since I have no will power with eating healthy, I will go back to my prior routine of ...

[TheGipper]

Best of luck. I think you’d be great. Interested what you find about the extra liability risk and any further insurance coverage needed?...

[TheGipper]

Johanna. Perhaps you could refresh us on your blog or this forum on what AMT items qualify for the carry forward minimum tax credit (ie deferral vs exclusion...

[TheGipper]

I think very few are going to be hit by AMT, particularly in the previous 200k-600k “doc wheelhouse” that previously hit 60%+ Think of it like thi...

[TheGipper]

Raddoc makes a strong point re: legislative risk of munis losing their tax advantage and taking a large one time hit. I still think the risk is being...

[TheGipper]

I see no problems with using muni bond funds for EF. You’ll get advice ranging from cash only to 130% need in equity funds. Personally I prefer mu...

[TheGipper]

I think most detailed analyses have shown the math works slightly better with bonds in taxable, even if one chooses the most tax-efficient funds, and...

[TheGipper]

hightower wrote: TheGipper wrote: But I have to admit, even though loss of SALT deduction hurts me, I do agree philosophically with getting rid of it. Why should low tax states be forced to subsidize hi...

[TheGipper]

@DMFA Actually nongovernmental 457b are nonqualified plans. But as PoF has pointed out, most of the harsh restrictions on NQDC plans from previous ho...

[TheGipper]

I think idea #1, the 100% credit for charitable giving to the state would work. True it would only help the itemizers, mostly the high income earners,...

[TheGipper]

I also think we’re ok now. I blame the usually faultless Michael Kitces on this one, particularly his in parentheses interpretation that all NQDC pl...

[TheGipper]

You have to run the numbers, but keep in mind most of us are likely to be able to withdraw most of our traditional 401k/IRA at a lifetime EFFECTIVE tax...

[TheGipper]

Don't want to get anyone's hopes up, but got an email back from spouse's benefit coordinator saying their current interpretation of the bill is that non-governemntal...

[TheGipper]

I’m rebalancing into REITs without reservation. Also REIT dividends will now get the tax bill 20% deduction, which will help whoever keeps them in tax...

[TheGipper]

I have read conflicting reports that 457b funds would have to be liquidated by 12/31/2025 or when retire/leave (no more “forfeiture risk” once have...

[TheGipper]

My wife also has a 457f, which also looks like its in trouble with this bill.  Yikes.

[TheGipper]

Fairness would seem to dictate that any change to the withdrawal period and taxation only affect funds contributed after 1/1/18. But I doubt we’ll...

[TheGipper]

I think the fear is, as the law stands everything in the 457b could become immediately taxable in 2026 or when you leave the company as lump sum. One...

[TheGipper]

@treerock It’s definitely in there. I couldn’t make sense of the actual text but read the summary description at the end of the bill. I think no...

[TheGipper]

From Kitces article.... – Crackdown on Deferred Compensation. A proposal from the House GOP plan that remained in the final TCJA legislation will crack ...

[TheGipper]

It looks as if nonqualified deferred comp including non-governmental 457b and 457f have been killed off. Worse yet, depending what article I read, they...

[TheGipper]

CaliBoneDoc wrote: I asked a similar question in another thread, but now that the final bill is set for vote, I’ll try again- I basically was wondering about the feasibility of reorgani...

[TheGipper]

Awesome summary. Five points/questions struck me. 1) Pass through businesses are definitely going to want to split profits among several "family member ...

[TheGipper]

Rotish wrote: I can’t complain about this bill. All the horrible parts of the house and senate versions didn’t make it. I am interested to see what happens in 2026. The party tha...

[TheGipper]

FIREchief, you are correct. Ironically, this methodology may just eliminate AMT in the roughly 400k-600k MFJ range, but keep it in the 150k-300k MFJ range f...

[TheGipper]

Over all, final bill looks pretty good to me. A few final revenue tweaks will sting with docs though. Lowered pass-through income threshold for service...

[TheGipper]

GOP’s biggest tactical mistake in all this was going with the 10 year period for budget reconciliation bills (10 yr is just an arbitrary time frame...

[TheGipper]

The biggest “devil in the details” will surely be the compromise individual brackets. We’re mostly all hoping for Senate version but I’m nervous...

[TheGipper]

No real wrong answer here, just unpredictable differences in net worth building. All good advice so far. I’m partial to 50/50. I also second paying...

[TheGipper]

Right on StarTrekDoc. Ironically, the slow push forward of the flat tax movement in the GOP has been stalled by a dramatic shift in rural, low income ...

[TheGipper]

Getting back to the simpler portfolio construction question of OP If bonds make up 25% or less of your portfolio, probably fine to just stick with a sing...

[TheGipper]

@Lithium I am by no means that knowledgeable with AMT tax crossover points, and it is my understanding that it can vary significantly, based on individu...

[TheGipper]

https://www.politico.com/amp/story/2017/12/13/tax-reform-deal-compromise-plan-294972 Yee of little faith. Other Hill reporters like the reliable Ri...

[TheGipper]

More good news folks.  Politico reporting that if individual AMT stays (likely), the exemption will be massively lifted to 500k/1M (hopefully indexed...

[TheGipper]

To brighten a few people's evening.  Larry Kudlow reporting that FIFO cost basis requirement has reportedly been stripped from the final bill.  A big...

[TheGipper]

This is totally BS they can't find a way to get rid of individual AMT.   We're not talking about huge revenue savings here.  It has been a rallying...

[TheGipper]

And to Crixus's point.  Buying long term bonds now is really not akin to "buying high"  The expectation that interest have no where to go but up is...

[TheGipper]

I actually think long term bonds are a GREAT diversifier and should have a role in almost any early accumulator portfolio. Sure they are interest ra...

[TheGipper]

hightower wrote: spiritrider wrote: Too bad this is fake news. The house eliminated AMT for both personal and corporate taxpayers. The senate added back in AMT for corporate taxpayers ...

[TheGipper]

Recently plugged #s into TT. My higher cash balance plancontribution and more deferred $ with spouse’s job in 2017 has almost certainly pushed us back...

[TheGipper]

This won’t be hard. Allow 10k deduction for EITHER prop tax OR state income tax deduction to satisfy CA GOP house delegation and Susan Collins Ge...

[TheGipper]

@Neuro That is a very competitive premium for 5M. May I ask who you have it with and how many autos and rental properties it is covering above?...

[TheGipper]

That calculator seems accurate. Matched my own calculations. For me house bill $8000 MORE in tax, senate bill $8000 LESS in tax! Wowsers. Really hop...

[TheGipper]

Johanna, Why do you think Ccorps back in vogue? Even with the lower 20% Corp rate, mustn’t one also pay cap gains rate on dividends to shareholders....

[TheGipper]

Would rental property with rental income reported on SchE need to be owned in an LLC or other pass-through entity to qualify for 23% deduction. Assu...

[TheGipper]

Re: prepaying property tax. If you’re near border of AMT, plug estimated #s into last year’s version of TurboTax to see if your likely to be hit...

[TheGipper]

Interesting to note that the Senate’s individual tax brackets are much more generous and better for docs than the House’s brackets (even though house...

[TheGipper]

Again I am humbled and submit to the “we know nothin about nothin” folks. Market tanking but on Mueller/Flynn news, NOT tax bill, which will pass t...

[TheGipper]

Though “pseudotiming”, I often do my annual rebalancing a few days to weeks early or late if there is a big event. I think the stock market had ...

[TheGipper]

If American Seminar Institute is all downloaded audio or mobile video courses, how could the travel deduction hold up to an IRS audit?...

[TheGipper]

jfoxcpacfp wrote: TheGipper wrote: Unfortunately it looks like the child tax credit income phaseout has been lowered to 500,000 AGI in Senate bill,which would knock out many docs with working...

[TheGipper]

Don’t give up yet, docs, lawyers, accountants. Ron Johnson (who’s vote is almost certainly needed) is holding out for ALL pass-throughs to be included,...

[TheGipper]

Unfortunately it looks like the child tax credit income phaseout has been lowered to 500,000 AGI in Senate bill,which would knock out many docs with working...

[TheGipper]

I’m fairly convinced that renting and plunking the difference in VTSAX would provide better risk adjusted long term return than owning with a 30 yr,...

[TheGipper]

Bank on whatever version the Senate passes being close to the final version, with a few tweaks and some SALT deductions added back in. It will be ************************...

[TheGipper]

This political posts will die down soon. Passions are just high now (for those that care at all) with tax reform/health care bills active. Add in a h...

[TheGipper]

The government is in the business of subsidizing preferred behavior and punishing non-preferred behavior in the tax code. I would think that encouraging...

[TheGipper]

Even though I enjoy discussions of tax policy, which inevitably deviates into politics, I will refrain going forward from any political posts. I get...

[TheGipper]

FIREshrink wrote: I have the opposite solution. The government should get out of the student loan business entirely. Don’t make the loans. Don’t collect the interest. Don’t give tax deductions for ...

[TheGipper]

Zaphod wrote: The White Coat Investor wrote: Kamban wrote: The White Coat Investor wrote:   Until both parties bring reasonable candidates to the forefront instead of suppressing them and instead giving ...

[TheGipper]

  Click to expand…   This has nothing to do with having opposite political views.  I have no problem with opposing views.  I do, however, have a bi...

[TheGipper]

The White Coat Investor wrote: Rotish wrote: Equally horrified? Seriously? Care to give examples of what Obama did that was as horrific as this presidency has been? I understand there will always be the ...

[TheGipper]

MPMD. No need to be so dramatic. I can assure you that the other half of the country felt equally horrified under the Obama years. But life goes...