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Do they pay a dividend every month or something? On yahoo I see July 9th.
Neither. It's the date you need to be an owner to receive the dividend. It gets paid out at a later date, oddly called the payment date. August 3 for T.
Ok so we should probably expect the share price to go down some on August 3rd (or do you need to own it the whole day so the 4th?)
ok, what brokerage do you use? They should actually list the “ex-dividend” date on the overall page of your stock. Start there and see if you can find it. You don’t have to figure it out. They will list as part of the stock summary. Once you find that, come back.
Interesting. Seems like there might be people gaming the system on that one?
before or after what? Look, my next post will summarize this. Don’t post until then. If you do, I won’t finish it.
Dividends are usually paid quarterly. Up to the company. Some semi-annually, some annually, they can do it every time Capricorn is in Orion’s shadow or whatever. Usually quarterly.
Not really looking to devise some sort of strategy around the dividend myself. Just looking to get a better understanding of how it works.
Bah. Just realized what you're getting at here.
Kind of a tough spot. With the inputs you gave us I think the main thing is she continues to live within her means and never spend at a deficit in any given month. She should probably make sure she’s sacking away 100-200 a month Now so ten years from now when (not if) momma Ghost is still with us her investment will keep up with inflation so she can live at a small deficit.
I tried to explain to her that she is actually losing money with that cash sitting in a bank account earning a couple cents a month. She did not understand the concept.
Just to leach onto this conversation. I am a 56 year old guy, the wife and I have separate retirement accounts. Is it too late to get into dividends? If wanted a $1000 a month from dividends, I would have to have $250,000, at 4%, right?
The trust is separate entity from her. Not sure the state can touch the trust. Who is the trust's beneficiary?
Yeah the trust part of it I’m not worried about. The beneficiary is my Dad and my two cousins (my uncle passed a few years back).
She can give it out of the trust instead of the checking account. Problem solved.
No but she isnt going to let all of it get invested. We would have to open a roth, and I would encourage her to max the roth.
It’s true that she could but you are solving for X not Y. Getting my daughter the 15K isn’t the issue (per se). The issue is doing something with the 60k (and growing) in her checking account...... I know first world problem.
What if GG loans the money to Miss Ref? Say a 10-year note, interest only, with balloon at the end of 10 years. Self-cancelling upon death of GG.
Not a bad idea but I don’t think it would pass the clawback because she would need to repay. The state would be expecting the money in due time even with the cancel.johnnycakes said:
I don't know about that. If the note matures in 10 years, I don't see how the state can try to accelerate payment. They would probably have to try to defeat the note as a disguised gift. To do that, they would look at the term of the note.... does GG have a reasonable chance of living the 10 years? So maybe you set the term of the note to 5 years, for example.
1.9% yield?rascal said:
The thing with VIG is that it's companies that increase their dividend. Every year. For decades. It's a prudent, long-term investing strategy, particularly if you invest that 1.9% into more shares. If you want an income stream to pay living expenses, perhaps not the right choice.
I like the cut of your jib.
According to the single life expectancy tables, the life expectancy of a 97 year-old is 3.6 years. I would think if you set the note term to 3.6 years or less, they would have a hard time treating the note as a complete sham.
And the house. Sounds like a reverse mortgage might be a consideration. Or a sale/leaseback with a family member to better keep the wealth in the family.
Pretty sure a reverse mortgage wouldn't be a consideration unless she depleted her savings and got into credit card debt. Neither of those are likely barring something crazy. If something crazy were to happen then yeah I could see that as a possibility.
I think you are thinking way too hard on this. Do ATM cash withdrawals as if they are weekly living expenses. You use the cash and put money in your daughter’s account. It might take too long if GG doesn’t make it long but if you think she’s got a couple years it would be relatively easy and 0 chance of a clawback IMHO. No way they could say it wasn’t going to living expenses. Even do small checks ($100) for every holiday/Christmas. I think you could get to $15k pretty quickly, maybe a year.
You would be surprised the level of audit these dudes do when you apply for long term assistance. They make you explain “Excessive” cash withdrawals and birthday/Holliday checks. It’s not like they make your return the $$ But they say you can’t account or gave away $15K so you are ineligible for assistance for the first three months as the avg cost is $5K a month.
