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Originally Posted by JSH
So why don't you move your money?
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I want to have Mom put my accident money towards her mortgage. It would pay down a significant fraction.
However, since Mom isn't doing anything quickly and I have more money that I realized (although much of it probably isn't mine--like $5-6,000 in taxes) I went to transfer it to Bask for that lifechanging $1,000 per half-decade, but neither the app nor the site allow me to transfer it.
I can select my Navy Federal account, but not my Bask account--on Bask's own website.
I e-mailed them about it. It has been almost 36 hours and I haven't heard back.
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Originally Posted by JSH
Can't pay the annual property taxes or can't pay an estate tax?
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Read between the lines! "Can't" usually just means "Don't want to!"
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Originally Posted by JSH
I really doubt your mother has an estate large enough to pay any federal estate taxes. Inheriting a house is different than buying the house from your mother.
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Oh yeah?!
Zillow guesses that Mom's house is worth $226. I put that into Calculator.net's Estate Tax Calculator
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Net taxable estate is $226,000.
Because the taxable estate value is within the exemption, the federal estate tax due is $0 for 2023.
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Huh.
Okay okay! I can cover that!
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Originally Posted by JSH
This house still has a mortgage? That brings with it a lot of questions and I’ll be direct. If your mom died tomorrow can you afford to pay the mortgage, taxes, utilities etc on your own? It doesn’t do you much good to inherit a house if you can’t afford to keep. You mother might need life insurance to pay off the mortgage or you need a plan ASAP of how you are going to get your income to a level that you can support your brother and yourself on your own
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Mom charges my brother more for room and board than the mortgage itself costs, plus I have over $14,000 in the bank.
She at least used to have more in savings than she owed on the house.
I can't explain Mom!
She doesn't have life insurance. Had she gotten the $10 Colonial Pen ad they always spam on television when she turned 65, around when Dad died, she would have lost money already.
I tried looking into other plans and something about the statistical likelihood of people her age dying makes it unpractical.
I am checking again. I am guessing her birthdate, height, weight, ZIP, and diabetic data--I don't want to give away her information, but I want it to be in the ballpark.
Now it wants an e-mail address!
FreebeardIsOkay@Nunya.com
Huh.
It didn't like that!
PolicyGenius says that $100,000 of coverage would cost $110-179 for a 10-year policy and $185-286 for a 15-year one.
Remember that bit about the statistical likelihood of people her age dying?
Scar said prepared and I always try to be.
Occasionally successfully.
Not this morning. It looks like I am spending far too much time asking people "How do I prevent Windows from restarting just because I don't have a keyboard connected?"
Anyway, trying to calculate the profit margin on Mom's life expectancy is giving me the jibblies, like the painting in Strong Bad's closet.
I learned that I cannot watch this video while posting:
Anyway, 120 payments of $179 total $21,480, and 180 payments of $286 total $51,480.
Am I missing something?
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Originally Posted by JSH
The best time to buy is when the market is down. Remember when market lost 50% in the 2008 / 2009 recession? It is worth more than double the prerecession peak today even with the losses over the last year. However, stocks are for long term investing - not money you will need in a short period of time. Saving or investing?
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Who doesn't remember?! I finally moved on from being a starving student and was a starving graduate! I was trying to figure out which meals and bills were the most important and then I joined the Army and my Drill Sergeants kept yelling at me for [checks notes] existing!
When VOO outperforms Bask--assuming I can ever deposit my money--I will switch over.
Do any of you think I could have taken this time to tell Navy Federal to send my money to Bask instead of responding to one post?