Budget & Savings

I currently have a ROTH IRA account with major Financial Institution A.  I opened and funded this ROTH IRA account in 1998, so I have satisfied the ROTH IRA 5-Year Rules concerning tax-free withdrawals of earnings.  I am thinking of moving this ROTH IRA account to major Financial Institution B.  Will the ROTH IRA 5-year rule clock start over at zero for the new ROTH IRA account?

Instacart: The membership is $99 and you have to cancel within 3 months to get a full refund.  If you have Instacart, it will automatically renew unless you call their headquarters to cancel it. First of all there are some honest drivers doing your shopping, but the ones who are not can be the biggest pain and Instacart will do nothing to deter them.  Missing food from your order happens quiet a lot at Instacart.  Even though you need the item, you will have to order over $35 to get your item hopefully in the next order you make.  The only thing Instacart will do is remove that drive from ever doing your shopping in the future.  The second thing you can choose is not to tip them at the end of your order, BUT if you look closely at the bottom of your receipt Instacart already give them a tip from you.  I just found out you must call Instacart back immediately and have them remove the extra tip.   I'm on a low sodium diet and I

From what I have read, ever since the housing bubble burst, more people are renting instead of buying homes, causing rents to soar.  Investing in apartment buildings has become profitable, and the companies managing them are more interested in generating profits for their investors than they are in the welfare of their tenants.  However, the knowledge that I am in a crowded, leaking boat does not help me prevent it from sinking. When I moved into my one bedroom apartment fifteen years ago, I could afford it.  Now, I manage to pay my rent from the income I derive from Social Security and my part time job.  Each year, the rent increases get larger and more monthly fees for services I neither need nor use are added.  As a result, I've turned frugality into a near art form, trimming all the fat I can from my budget, but I recoil at cutting into its muscle and bone.  What awaits me when my lease expires in February 2020 deeply concerns me. My previous

There has been many "discussions" about Car Insurance on this site. Many of us are on a FIXED INCOME in Retirement or LOW INCOME still working. Now there are OPTIONS like Public Transportation or maybe Uber. But I saw recently where Uber has been PULLING OUT of certain locations. Anyway, would luv to hear from you guys!  👵

Throughout the web site here, I see AARP advertising a membership discount of $4.00 if you agree to AUTOMATIC RENEWAL. I don't ever agree to AUTOMATIC RENEWAL for any subscription type service, be it a membership to an organization, a magazine, or a club. For the last five years, I have had an AARP membership for a total of $31 with no AUTOMATIC RENEWAL required. Imagine my surprise when I received a renewal notice that wanted $63 for the next five years.....a 100% increase. On top of that they wanted to place me in an AUTOMATIC RENEWAL program. As I have said before, when it comes to subscriptions, and you aren't satisfied with the renewal terms, call the entity....be it XM radio, a magazine, or even, AARP. I called and tried to negotiate the same terms I had the last five years. I figured that wasn't going to be offered again and I was right....however.......I did negotiate a renewal of $45 for five years without an AUTOMATIC RENEWAL requirement. That is a 25% dis

ANY COMMENTS?  🤔  NOW RETIRED, WHEN I WAS WORKING - ALWAYS RECEIVED A REFUND!  👵 FROM THE ARTICLE - SEE ARTICLE FOR MORE. Don’t panic — but do pay the tax tab. By  Patricia Amend, AARP. Published March 29, 2024. Bills are a fact of life, though some require more urgent attention than others. Ignore your brother-in-law because you still owe him $50 from last year’s poker game, and you’ll get the cold shoulder. Ignore your debt to Uncle Sam, and the consequences will be much more costly. *** USE LINK AT BOTTOM OF THIS POST TO READ THIS ARTICLE *** [1] Then enter Email Address you used to sign in to use This Site.   [2] Then enter the password you use.   [3] Lastly, there are 3 LETTERS that will "pop up" as their SECURITY CHECK. Enter those.   [4] Then click log in.     https://www.aarp.org/money/taxes/info-2024/large-tax-bill-money.html

IS YOUR BANK/CREDIT UNION/FINANCIAL ADVISORY FIRM ON THIS LIST?  🤔  MINE IS NOT - TRUIST BANK!  😎 FROM ARTICLE - SEE ARTICLE FOR MORE. By Natalie Missakian, March 12, 2024. Banks, credit unions and financial advisory firms are arming their employees with the information and training needed to recognize and stop financial exploitation before it happens. This month, AARP gave 167 financial organizations our BankSafe Trained Seal, acknowledging their commitment to fighting financial exploitation, which costs older adults more than $28.3 billion a year in the U.S. (when factoring in cases that go unreported). https://blog.aarp.org/fighting-for-you/bank-safe-financial-exploitation-prevention-seal

My 13 year-old grand-daughter has a sizable check from a life insurance payout. She, my DiL, and I are going to see lawyer, but I want to get a better understanding of how to protect her money. Not that I don't trust lawyer's, but I don't trust lawyers. I know what I would advise her if whe was 18, but I'm just not cognizant of the rules that apply to minors. I'm thinking, for now, she should put most of the money in 7 or 11 month CDs at 5% from Wells Fargo. She does want to get her own brokerage account as she has helped me with mine for several years. She does want to use some to help her mom, but most will be invested.1. can/should she get a revocable living trust with her mom as co-trustee or such2. can/should she get a checking account within the trust or outside the trust?3. can/should she get a brokerage account within the trust or outside the trust?

WHY ARE THEIR DATES DIFFERENT? (April 17 in Maine and Massachusetts) SINCE RETIRING, I DO ALOT OF FRIENDLY BARTERING WITH OTHER SENIORS = NO IRS INVOLVEMENT. ANYONE ELSE AVOIDING THEM?  🤔 Three ways to make tax time more difficult, plus two things you shouldn’t be anxious about. FROM THE ARTICLE - SEE ARTICLE FOR MORE. As the April 15 tax filing deadline approaches (April 17 in Maine and Massachusetts), it’s very possible you’re getting nervous. After all, it’s been widely reported that 2022 legislation granted the IRS nearly $78 billion for goals including the hiring of thousands of new agents and an increase of its audit rate. By Penelope Wang, AARP. Published March 05, 2024. https://www.aarp.org/money/taxes/info-2024/mistakes-irs-trouble.html

 50% increase in 2 years. Disappointed in AARP. 

 LOOKING FOR OPINIONS ON MAKING ROTH CONVERSIONS AT AGE (72) AND BEYOND.  I REALIZE THAT INCOME TAXES ARE UNIQUE TO THE INDIVIDUAL PAYER, BUT LOOKING TO SEE IF ANYONE OUT THEIR HAS DONE SOME RECENTLY IN THESE LATE YEARS.  MY CONCERN IS THE UPCOMIMG "TRUMP TAX CUT ERA" IS SET TO EXPIRE AT THE END OF 2025."  PLEASE WEIGH IN ON THE PRO'S AND CON'S.  THANKS!

IRS tax code offers perks to taxpayers of a certain age. Published January 19, 2024. By Patricia Amend (a lifestyle writer and editor for 30 years). https://www.aarp.org/money/taxes/info-2024/tax-breaks-after-50.html 

We went with Hartford Insurance two years ago because it was associated with AARP. Our first year increase was nearly 25% with no accidents or tickets. This year Hartford is raising it an additional 35%! These increases without cause are ridiculous. AARP for the most part represent seniors on a fixed budget how do they justify associating themselves with a company that price gouges seniors?

The IRS Free File is available today.  Only a few percent of people eligible to use it do.  It has been available for over twenty years.  I have used it for three years and wish I had done so sooner.  It is free for those earning under $79,000.  Those making more should be happy they earn so much.

In 2004 my car was repossessed by Triad Financial Corp., and resold. Friday, January 5th I received a letter from Business Administrative Services LLC., on behalf of Oakfield Investments LLC., offering a one-time offer of $617.26.  If I do not pay this amount Business Administrative Services is saying they will to file a 1099-C for 2023 with IRS in the amount of $6,172.58. Is there a time limit on debt collection? Can they do this and claim this as income from 2023.  I am a retired 81 year old senior.