u/Music4thesoul10

Good afternoon,

I just noticed it came out my bank yesterday and the money is sitting in the brokerage company, but can't invest yet until it fully clears..I suppose. The previous rep(super nice) was telling me that while they don't count the money you deposit in to the IRA as COUNTABLE income for the month, they do count the "interest" it makes" I was scratching my head..like huh?lol I'm thinking she didn't understand how IRA"s work what she was talking about when it comes to that. All I do now is what counts for my countable income for the month is my Gross-minus business expenses as I'm self employed, any realized gains from my brokerage(taxed account). whatrbrt that number is would be my net income and is what medicaid sees as my countable income for the month, correct?

Now while chatting with her she said to call back when I got my first statement and then we would update your application on the website stating you now have an IRA. Do you think that would be the appropriate time to do so? THis month I think my countable income is like 2,000. I deposited $500. I would like to deposit more before the month is over. I'm shooting for another 500 to be deposited. I want them to be aware of this, so they know my countable income would be well under. That being said, I would have my statement to show what was deposited that month, so technically, I have proof, right? Any information you think I should be aware of with the countable income, ira's and letting them know anything would be appreciated.

Thanks.

I know this doesnt seem like a tough one, but man oh man..lol

ON the back, yea m i know sign next to endorse here,lol BUTi don't see how it's possible to write "For Deposit Only to my Fidelity Account" on the check as well. If i can write some of those words on the top line with my signature I could... But underneath endorse there's the space... and like i said I dont see how it's possible to get all those words in there... Am I missing something?

and for name of institution I should put Fidelity? THis is for my IRA... I'm not seeing good instructions on this.

Thanks.

so, first hope all is well.

2 years ago, i had my first surgery..thyoid removal and lympnodes

folliwing year had more lympnodes removed with additional canncer.

Have to find new one as the doc doesn't take insurance anymore. Just went to primary for routine blood check up, etc, and she said my tsh is low and has been for quite some time. I won't submit numberes here as I'm not sure if it's allowed, but in regards to cancer andnot wanting it to come back, don't you want your tsh to be low?... very confused...

THanks :)

IHey all... Recently got new pipes under the sink.. it was corroded, so whatever the names of the parts are under the kitchen sink,lol.. he replaced it

is there a simple reason this new strainer he gave me is not letting water go down?.. he said it came with the parts, if I recall.

if i take strainer out, the water goes right down like a normal sink would do,lol

I'm not sure I need a picture of the strainer?

Thanks guys..hope you can come through for me on this :)

https://preview.redd.it/mikrlh7q0bih1.png?width=646&format=png&auto=webp&s=f2bb038faf9f9edd1ff81d05cb6f716f2f3219da

https://preview.redd.it/83clqnwr0bih1.png?width=646&format=png&auto=webp&s=444bbda53a83ef137615633d90243e103101b928

All is well and enjoying the summer.

1. to tell them about your irrevocable trust.......ALSO To add to question number 1, does it matter or not if you still have a mortgage?
2. Do you need to open up a Trust checking account?
3. In regards to lawsuits, does having a irrevocable trust make it much harder to sue you? If one is able to sue you, can you provide examples of what they can and can't sue you for.

If you happen to know anything about either of my questions, I would appreciate the feedback.

Thanks ladies and gents.

Good evening,

I just opened an traditional IRA. I know you have to update your application/income from time to time depending on any significant changes,, but I had a question... Oh before I get started, god forbid, i could just navigate to then "INCOME". section and do what I have to do..it's like i feel i'm filling out a whole new application for medicaid.. I dunno. anyway

I logged in to the website, it says APPLICATION not completed, i believe words were because i attempted to do this last night, but stopped.

I'm currently looking at the page where it says Expected annual income for 2026. It's currently blank. There is a box i can check off for I don't know. Do I fill in an estimated income amount for this year or check off "i don't know".

I'm like terrified to keep moving forward aftert this to be honest because i almost feel like I'm applying again for medicaid,lol..I simply want to add that I now have an IRA. I don't know what questions it will ask about that.

Is this normal? having to go through this entire process again.. Did I do something wrong where i could have just located the "update income" and clicked on that and added whateer info it required for my ira?

I really just dont want this to be like i'm filling out some new application for medicaid, which i'm obviously not.

Anybody have experience simply updating income and you have had to go through rhis whole process again? After income, the section is sign and submit.

Alright, well, i guess that's it. Any feedback would be appreciated.

Thanks guys

hope all is well,

I know for example cn is no good, but like I see the last name huang or zhang, are they a no go as well. My apologizes to those who are asian in this group.

Good afternoon,

I'm gonna TRY and keep this short and easy to read.

I've posted here before, but i'm a little closer to my final decision now, so looking for some more feedback/opinions.

Currently have brokerage(86 thousand). Advisor charges .7%. Happy with him. Embarrassed to admit that either I got 11% this year so far or was it last year. I showed me uncle my statements..he;s a former advisor. How do you go about figuring out if an advisor is beating the sp500 mixed in with the fee? Been with him 3.5 years. I'm nasdaq concentrated. I know past results don't predict future results.

I have medicaid. I need to stay under x amount of money each month. Based on talking to them and my own research, i can deposit money in to a traditional ira and it will take away from the income they look at. As an example, i earned 1,000..i deposited 100 in ira that month. They see me as having earned 900. My health insurance is most important. Have some issues...but that should be everybody's number 1 priority anyway....moving along....

My plan is to keep my money with my advisor.. it would take me years to take it all out with capital gains and not going over my monthly limit.. I would no longer deposit with him. Just let him do his thing with that current money i have with him. Open IRA with fidelity... start depositing my money in there every month instead of making my monthly deposits with my brokerage with advisor.

It helps with my health insurance(priority number 1), it helps with taxes..essentially good for me in the long run... and the fees are lower obviously.

I chatted with fidelity online this morning. I'm self employed. i dont get a 1099. I can still open IRA. Didn't know that..so that was good.

Now i'm at the point as to what to invest it.. I visit reddit and see people talk about financial advisors rarely beat the market. So, basically stick with the sp500? I like fidelity based on what i read from you guys basically. When i open the ira, what would be best for me to invest in.. I see many people say FXAIX.. is that the correct symbol? which tracks the top 500?.. Like should I do something as simple as that? Using easy numbers... if i have 1,000 now OR should I deposit 500 now.. 500 in 2 weeks? etc.

i realize there are different strategies as far as investing and some people invest in in the entire u.s. market including international. I really would like to keep it simple and not worry... just once a month for example.. deposit some money.. not look at it till next month.. I have no intentions of selling either... I realize many just buy and hold buy and hold. If you have an IRA, if you sold does that create a capital gain? I know if I have a brokerage it could possible create one if it's for profit.

I guess that's it for the moment. Definitely gonna open up the IRA a sit helps with my health insurance... what do the majority of people do?

Thanks.

I assume it's in regards to how a lot of these particular studies are simply..completely defective..like wtf am I looking at here?lol

Thanks

Good evening,

As we all know, nothing is ever easy. If you're familiar with filling out the application, they ask you to take a picture of particular photos. Every time I put my camera over the photo, looks just fine when it comes out, then you upload it and like 1/4 the page is cropped off?

LIke who developed this little system. I just wanted to know if anybody had trouble doing so.

Thanks.

ANybody happened to do this current one.. it says intended completion time 2 hrs and 15 minutes for 22.50?

Thanks

Hello, this is essentially a repost with less words.Sorry about this, but I'm still confused despite the feedback received here and research done online. Here goes.....

GOAL- Remain on Medicaid

Single,40 yrs old,NY...self employed(Income fluctuates every month,$50 monthly business expenses), Brokerage account that sometimes has realized gains(income).

Would like to open up Traditional IRA.

Using this scenario as example

It's july 24th, made 1,600 via self employment thus far.

Don't know what realized gains are gonna be exactly, but looks like i'll have, which would then push me over monthly income limit. 

Advisor sends reports 5 days AFTER end of each month.

If I have a Traditional IRA, would Medicaid allow me to simply deposit $500 of my self employment earnings in there NOW, which would drop down my countable income to 1,100 and very much likely keep me safe from going over the monthly maximum limit?

Thanks

Edit- Solved

I was scrolling through real quick and i THINK i accidently clicked "report". If I clicked, would it automatically report or give me a 2nd screen to confirm it? I certainly did mean to if i reported the researcher.''

Thanks

I'm trying to keep things real short here. My current advisor charges me .7% to manage. I'm trying to read and watch as much as I can on how people just deposit money buy sp500 and then check in next month. Basically, never selling. My advisor is doing a great job, but for somebody like me who has under 100k and am 40.. seems smart to leave him.

I thought you can simply leave a firm by transferring your positions to another firm and calling it a day via a inkind transfer, but apparently I have 4 holdings(not sure if i'm able to mention them here) that I probably wouldnt be able to simply transfer.. I would have to liquify first.. like it's one big mess over here,lol..

AI mode sorta said I could.. chat gpt said probably not.. I dunno,lol.. I know the obvious answer is to simply call the companies and ask... I'm too much of a nice person.. I like don't even want to leave my advisor, but i have to look out for myself and make as much as I can hopefully. It's gonna be such an awkward email. I'm going to him him sunday night for monday morning... simply to ask to stop doing anything that would create any sort of realized gain for myself. Long story short, I'm on medicaid.. combined with my self employment I cant go over a certain amount each month or they kick ya off.. Everybody needs insurance.. but i have some health issues, so thats sort of a priority for me.

Al my i want to do is buy and hold and not sell, so I dont generate realized gains. I know dividends are income, but other than dividends are there any other income to worry about?.. Is this correct to the best of your knowledge?

"An index fund will also need to make sales in the account in order to process redemption requests (clients taking some money out of their account) or just for portfolio rebalancing.  Think about it-If someone has their IRA in that portfolio and needs to take his Required Minimum Distribution (RMD), how would Vanguard/fidelity be able to pay it to him?  The S & P 500 index does not have a position in cash and Vanguard/fidelity would need to make a sale to provide the funds.  Also, keep in mind that, unless it's in an IRA account, the fund does not grow tax-deferred and Vanguard/fidelity will send you an income statement for tax purposes in January or February showing the earnings."

man oh man..past week has been one hell of a roller coaster for me.. At the end of the day, when choosing firms, I want the one with the smoothest transition. In a perfect world, i can simply transfer what I have now to the new firm and start buying in to the sp500 or for fidelity it's Fxiax, correct? Thank you if you happened to just read my post.

Hope all is well,

I have a lot of different questions as my situation is quite complicated, but just wanted to ask this particular one. I have a brokerage with an advisor. If I wanted to open up an brokerage with say vanguard, I don't have to ever sell, correct?. Besides dividends, would there be any income that would be generated by investing in the sp500? This is important for my health insurance information. At a later point, i'll give more detailed information that hopefully can make sense of, because I sure as heck don't understand..probably pretty easy for you to grasp though.

" An index fund will also need to make sales in the account in order to process redemption requests (clients taking some money out of their account) or just for portfolio rebalancing.  Think about it-If someone has their IRA in that portfolio and needs to take his Required Minimum Distribution (RMD), how would Vanguard be able to pay it to him?  The S & P 500 index does not have a position in cash and Vanguard would need to make a sale to provide the funds.  Also, keep in mind that, unless it's in an IRA account, the fund does not grow tax-deferred and Vanguard will send you an income statement for tax purposes in January or February showing the earnings."

Thnaks

Hello,

My financial advisor can only send them apparently like 5 days after the month is over, which he always does. If I make $600 via self employment. He sends me the report 5 days after the month is over. Say the amount of realized gains was $1,400. I would be kicked off medicaid due to being over the monthly limit, correct? Which is not my intended goal.

Thanks.