Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 03-19-2017, 07:20 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,818
With her illness I doubt that a one sided separation agreement would be accepted by the Courts. She really needs a lawyer who specializes in disability issues. I have known a woman who married an active alcoholic and another with mental health issues to flee a marriage and were unwilling to enforce support decisions. The OP's mother may be such a case but frankly her future financial situation is not just her business but the community's. She could end up destitute. Not only that but if the OP is in a state where children are required to support their parents in the case of destitution it will impact him as well. OP, you pay the lawyer's fee.

Also, as the wife of a Federal employee she is entitled to participate in the Federal Employee Health Insurance program.

In the meantime invest the $65T very conservatively, maybe in a Vanguard Money Market fund until all of this is sorted out, then Wellington Income fund.
__________________

__________________
Duck bjorn.
Brat is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-19-2017, 07:23 PM   #22
Confused about dryer sheets
 
Join Date: Mar 2017
Posts: 5
Was away for St Pats but thanks for continuing to help. Yes they are still married and relatively civil. My father would pretty much help my mother out with anything she needed as long as it didn't cause too much trouble for him.

She is, for the moment, relatively stable and on normal SS Disability (accrued enough work credit) which should just transfer seamlessly over to SS at retirement age. From what I'm reading online she is eligible for additional SS up to half of my father's retirement if she waits til her full retirement age to collect.

Shes currently looking in to Ibonds as well.
__________________

__________________
punchdrunk is offline   Reply With Quote
Old 03-19-2017, 08:00 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 15,210
Quote:
Originally Posted by Brat View Post
....Not only that but if the OP is in a state where children are required to support their parents in the case of destitution it will impact him as well. OP, you pay the lawyer's fee. ....
Theoretically possible, but remote likelihood.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
pb4uski is online now   Reply With Quote
Old 03-19-2017, 09:01 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,818
Quote:
Originally Posted by pb4uski View Post
Theoretically possible, but remote likelihood.
Talk to my former DOL Manager.. (unfortunately he has passed away but his wife would vouch). His mother filed for welfare, the State of Oregon required that he contribute to his mother's support. I heard him complain for months only to shut up when his subordinates told him that tithing begins at home. That is how I learned of the statute.

Oregon isn't the only state with such a law.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 03-19-2017, 10:38 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 15,210
Many states have such laws but they are rarely enforced. He probably could have successfully fought it.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
pb4uski is online now   Reply With Quote
Old 03-20-2017, 08:47 PM   #26
Recycles dryer sheets
Ticker's Avatar
 
Join Date: Nov 2013
Location: waldheim
Posts: 121
Quote:
Originally Posted by imoldernu View Post
Might consider IBonds... Current variable rate is 2.76%.

Depends on the guess about what the future holds for inflation.

Understanding how IBonds work is important. The safest part is that the return can never go below zero.

I Savings Bonds - I Bond Rates - Maturity Dates - I Bond Values - SavingsBonds.com
I agree that this may be the best solution to your quandary... It does address a lot of your concerns, is fairly liquid, inflation protected, and no fees......it was my first choice among the solutions presented.
__________________
Prepare today for the demands of tomorrow. Plan your move.
Ticker is offline   Reply With Quote
Old 03-21-2017, 08:40 PM   #27
Confused about dryer sheets
 
Join Date: Mar 2017
Posts: 5
Quote:
Originally Posted by Ticker View Post
I agree that this may be the best solution to your quandary... It does address a lot of your concerns, is fairly liquid, inflation protected, and no fees......it was my first choice among the solutions presented.
The only downside to the Ibonds is a maximum purchase of 10k annually but she is fairly certain she wants to buy that max this year at least.
__________________
punchdrunk is offline   Reply With Quote
Old 03-22-2017, 06:04 PM   #28
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,818
So how about an IBond fund through Vanguard?

Do not believe that her state of residence will not attach the earnings of her family if she needs State support. While rare it is not unheard of and may be more common if a State is strapped.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 03-24-2017, 12:14 PM   #29
Dryer sheet wannabe
 
Join Date: Mar 2014
Posts: 13
If he's a federal employees and they divorce, she is automatically entitled to a portion of his FERS or CSRS pension, and TSP account unless she signs it away when he retires.
__________________
Ragna is offline   Reply With Quote
Old 03-24-2017, 01:10 PM   #30
Full time employment: Posting here.
 
Join Date: Aug 2013
Location: North
Posts: 603
Quote:
Originally Posted by pb4uski View Post
I would put the $65k into Wellesley Income Fund, a very conservative balanced fund, and the $10k into an online savings account.

If she could use some extra cashflow, you could set up an automatic redemption of $250/month, bringing her income to $2,000/month and the Wellesley account will still likely grow.

Whatever you do, stay the hell away from annuities, and especially variable annuities.
This is a very sensible plan. Talk to the credit union about a savings account for the 10grand. Vanguard reps can get that safe wellesley fund for you.
__________________
AA (Stock/Bond/Cash ): 99/0/1% MIX (Small/Mid/Large): X/Y/Z% BLEND(US/Foreign): 100/0%, (Value/Growth/Blend): X/X/X% REIT (Real Estate Equity): 50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is offline   Reply With Quote
Old 03-25-2017, 09:55 AM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 5,818
A person with schizophrenia may sign away rights when others would not. As the wife of a Federal employee she may utilize the Federal Employee Health Insurance program after her husband retires IF she has been enrolled for a number of years - check the OPM website.

My nephew had schizophrenia so I have had experience dealing with a person with that condition.
__________________

__________________
Duck bjorn.
Brat is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Help my Mother is moving to Florida ? Moemg Other topics 32 06-19-2008 07:52 AM
Happy belated Mother's Day! laurence Other topics 1 05-15-2006 05:42 PM
Poll: Mother's Maiden Name BigMoneyJim Other topics 11 08-04-2005 02:00 PM
Happy Mother's Day! what to do? BUM Other topics 9 05-09-2005 07:25 AM

 

 
All times are GMT -6. The time now is 12:57 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.