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Re: Codebtor Bankruptcy - Defaulted Student Loan

You can keep paying and it's probably in your best interest to do so. Frankly, I'm surprised they haven't filed for co-debtor relief so they can start pursuing you already.
by Meaty
Thu Jul 17, 2014 8:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Codebtor Bankruptcy - Defaulted Student Loan
Replies: 4
Views: 689

Re: Inherited a promissory note--what to do?

Idea. Can the promissory note (and accrued interest) be given to a (viscous, litigious,...) charitable organization (with more resources to collect)... and written off as a charitable contribution on your taxes... thus jumping ahead of any IRS claim on the estate? Does organized crime have recogniz...
by Meaty
Wed Jul 16, 2014 6:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Inherited a promissory note--what to do?
Replies: 22
Views: 2411

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Paying off the loan is a bad idea given the trustee can declare it a preferential payment (see 11 USC section 547) which, in effect, takes your payoff away and disperses it to other creditors. This is why its important that the loan is secured by the car. The secured loan would be paid off before a...
by Meaty
Wed Jul 16, 2014 5:54 am
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7232

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Paying off the loan is a bad idea given the trustee can declare it a preferential payment (see 11 USC section 547) which, in effect, takes your payoff away and disperses it to other creditors. This is why its important that the loan is secured by the car. The secured loan would be paid off before a...
by Meaty
Tue Jul 15, 2014 8:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7232

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Paying off the loan is a bad idea given the trustee can declare it a preferential payment (see 11 USC section 547) which, in effect, takes your payoff away and disperses it to other creditors. Regarding the impact on your credit, there are way too many factors in play to say exactly how it will impa...
by Meaty
Tue Jul 15, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7232

Re: Budget or create saving buckets?

avenger wrote:Wow. That all seems so complicated - why the need to do such mental accounting? Money is money.


+1. Money is fungible. I've always just used one savings account and added to it for upcoming expenditures like vacations
by Meaty
Wed Jul 02, 2014 5:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Budget or create saving buckets?
Replies: 109
Views: 7382

Re: What To Do With Underwater Rental

I would walk away or short sale, it seems like the best decision, especially if you don't have an emergency fund. This is a money pit , especially with the maintenance. Tell the bank you'll walk if they don't cooperate on the short sale. How about living up to ones obligations? Why not short sell a...
by Meaty
Sun Jun 29, 2014 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: What To Do With Underwater Rental
Replies: 33
Views: 2611

Re: How many Bogleheads golf?

To slow paced for me.
by Meaty
Sat Jun 28, 2014 12:49 pm
 
Forum: Personal Consumer Issues
Topic: How many Bogleheads golf?
Replies: 81
Views: 4296

Re: Our 401k Adviser's defense against high 1.5% expense ...

Rupert wrote:Ask him why an ERISA rider for your company's general Directors and Officers liability policy wouldn't protect the company better or as well as his services in the face of a lawsuit.


+1
by Meaty
Thu Jun 26, 2014 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Our 401k Adviser's defense against high 1.5% expense ...
Replies: 7
Views: 883

Re: Directv

Drop TV altogether or go with Apple TV
by Meaty
Tue Jun 24, 2014 7:24 pm
 
Forum: Personal Consumer Issues
Topic: Directv
Replies: 36
Views: 2417

Re: How much $$ to change jobs?

What caught me is "high accountability which I do not like". If that's your perspective then you should stay in the gov job.......
by Meaty
Sun Jun 22, 2014 7:58 am
 
Forum: Personal Finance (Not Investing)
Topic: How much $$ to change jobs?
Replies: 52
Views: 4134

Re: How much do you contribute to your HSA?

livesoft wrote:I contribute the max allowed by law. I have never withdrawn any money from my HSA since I started it a few years ago.


+1
by Meaty
Wed Jun 18, 2014 6:05 am
 
Forum: Personal Finance (Not Investing)
Topic: How much do you contribute to your HSA?
Replies: 17
Views: 937

Re: Next steps after 401k/Roth IRA max

If you have a HSA I'd recommend you max that next. It's essentially an IRA that never gets taxed if you spend on medical expenses. From there, I'd recommend a combination of 529 and increasing after tax 401k contributions. Many here will tell you to go all in on the 401k after tax, but in my view yo...
by Meaty
Tue Jun 17, 2014 5:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Next steps after 401k/Roth IRA max
Replies: 7
Views: 816

Re: Are hybrid cars a good idea yet?

We did the math comparing a comparably equipped honda fit and prius c, assuming either is bought new with cash and held for 200,000 miles. With our predominantly city miles (which is where you get the big hybrid advantage) and assuming gas at $3.30/gallon, we expect to come out slightly ahead with ...
by Meaty
Sun Jun 15, 2014 7:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Are hybrid cars a good idea yet?
Replies: 105
Views: 8083

Re: How can this be legal (employers over-riding employee 40

It seems like an excellent move for the majority of individuals for exactly the reason explained in the article. It is true that most individuals have no idea how to choose their investments and would benefit from this type of adjustment. So why not put on a seminar discussing finacial literacy? At...
by Meaty
Sat Jun 14, 2014 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: How can this be legal (employers over-riding employee 401k)
Replies: 23
Views: 1753

Re: How can this be legal (employers over-riding employee 40

It seems like an excellent move for the majority of individuals for exactly the reason explained in the article. It is true that most individuals have no idea how to choose their investments and would benefit from this type of adjustment. So why not put on a seminar discussing finacial literacy? At...
by Meaty
Sat Jun 14, 2014 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: How can this be legal (employers over-riding employee 401k)
Replies: 23
Views: 1753

Re: What Do You Eat For Snacks?

Grt2bOutdoors wrote:
topper1296 wrote:Homemade protein bars. Whey protein, honey, peanut butter, oats and dark chocolate chips.


Can I have the recipe?


I'd be interested too
by Meaty
Fri Jun 13, 2014 5:24 pm
 
Forum: Personal Consumer Issues
Topic: What Do You Eat For Snacks?
Replies: 103
Views: 6213

Re: Why Are Insurance Stocks So Cheap?

I would argue they aren't "cheap". The market, knowing all available public info about these companies, has set the price. Will insurance company stocks appreciate in the future? No one knows but I don't think current valuations and unknown future events (ie big weather events, bond rates,...
by Meaty
Thu Jun 12, 2014 5:57 am
 
Forum: Investing - Theory, News & General
Topic: Why Are Insurance Stocks So Cheap?
Replies: 18
Views: 1767

Re: Why have more than 70% stocks?

I've been reading Dr Bernstein's Four Pillars of Investing for the last few days, and came across this graphic (which I hope he doesn't mind my reproducing here) demonstrating the relationship between risk and return in a balanced portfolio: http://i57.tinypic.com/2yy6q7l.png This is based on the a...
by Meaty
Mon Jun 09, 2014 6:22 pm
 
Forum: Investing - Theory, News & General
Topic: Why have more than 70% stocks?
Replies: 12
Views: 1492

Re: Play money

Holy cow! Based on the replies I've gotten, I can see that "play money" was a bad choice of words. This money is not part of my portfolio whatsoever. It's just sitting inactive in my military TSP account. However, since it will remain there for at least 20 years, I would like it to grow. ...
by Meaty
Sun Jun 08, 2014 10:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Play money
Replies: 17
Views: 1320

Re: Play money

Let's call this what it is - gambling. And there's nothing wrong with that if you choose to do so and it appears you've chosen a reasonable sum. But if you're choosing to gamble in stocks versus going to a casino then why not pick some long shot penny stock? Using a "growth fund" won't giv...
by Meaty
Fri Jun 06, 2014 5:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Play money
Replies: 17
Views: 1320

Re: Should I keep some money in a local bank?

Just keep in mind most local banks really aren't. They've been bought by larger banks who know many people prefer "local" so they kept the same name. It literally happens overnight; no sign change, no new grand opening, no change to product or services.
by Meaty
Wed May 14, 2014 6:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I keep some money in a local bank?
Replies: 47
Views: 2794

Re: Sep ira and back door roth

Great advice. Thank you both
by Meaty
Fri May 09, 2014 6:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Sep ira and back door roth
Replies: 3
Views: 320

Sep ira and back door roth

Hi and thank you for this great forum. My income puts me in the position of having to do a backdoor roth each year. Up until now my wife has been a W-2 employee with a 401k but will soon be self employed. As a result we plan to open a sep ira for her. If she has a sep ira can I complete a backdoor r...
by Meaty
Fri May 09, 2014 5:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Sep ira and back door roth
Replies: 3
Views: 320

Re: I've done it all wrong!

I agree with the previous post. Before you can clean up your "mess" you first need to put your short term finacial house in order. After you've developed a budget and have your family on board with adhering to it, then you need to find ways to cut it to increase your savings rate I'm going...
by Meaty
Wed Apr 30, 2014 2:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: I've done it all wrong!
Replies: 15
Views: 2593

Re: What's your number?

More.....
by Meaty
Thu Apr 24, 2014 8:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's your number?
Replies: 147
Views: 31459

Re: *poor* Bogleheads

I have been a long time lurker and recent poster on this wonderful forum. Finding this site has certainly helped me fix my investment allocations and for that I am very appreciative. However, I have come to the conclusion that perhaps there should be another main forum category for those of us that...
by Meaty
Fri Apr 18, 2014 6:08 am
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 12904

Re: what is a secured creditor, are muncipal bonds secured?

No. Secured creditors have a lien filed against collateral
by Meaty
Tue Apr 15, 2014 4:55 pm
 
Forum: Investing - Theory, News & General
Topic: what is a secured creditor, are muncipal bonds secured?
Replies: 2
Views: 243

Re: Playing Defense

What happened to all the people who were "100% equitites"? Where are the 95/5 chest thumpers? To your question OP, fixed income is the answer. Get some yield, take a little less market risk, enjoy. Also, give a gander at http://www.portfolioreviewonline.com/index.php?issue=6&article=4...
by Meaty
Tue Apr 15, 2014 4:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Playing Defense [against possible market correction]
Replies: 36
Views: 3282

Re: BBQ Road Trip

The Pitt in raliegh is unreal. Definitely worth going
by Meaty
Tue Mar 25, 2014 5:03 pm
 
Forum: Personal Consumer Issues
Topic: BBQ Road Trip
Replies: 50
Views: 3275

Re: Roth vs Traditional

Putting it in traditiona is better and then in 25 years converting from traditional to Roth at a 0% tax rate means you paid no taxes going in and no taxes going out. That's a lot better than putting it into a Roth now. Aso, don't spend the tax savings, but put those in taxable account or better yet...
by Meaty
Tue Mar 25, 2014 5:49 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional
Replies: 9
Views: 796

Re: How to help my son with law school loans?

jackpullo997 wrote:Just pay it off. He is already frugal and hard working, so you're not risking spoiling him.
Your money will be taxed at 50% when you die. Pass it along while you can without the 50% haircut.


+1. Pay it from your taxable account
by Meaty
Sun Mar 23, 2014 11:20 am
 
Forum: Personal Finance (Not Investing)
Topic: How to help my son with law school loans?
Replies: 58
Views: 2841

Re: State Farm or Allstate

I have had State Farm for 40 years, they have always given me great service. Recently I checked with USAA and found there rates for my cars with the same coverage with quite a bit cheaper. I called my State Farm agent and she had my policies reevaluated for my cars. They came back with a big reduct...
by Meaty
Sat Mar 22, 2014 6:26 am
 
Forum: Personal Finance (Not Investing)
Topic: State Farm or Allstate
Replies: 26
Views: 2078

Re: foreign sales people calling 5 times daily

If it's a cell phone, I'd recommend blocking the number(s) they are calling from. It's easy, only takes a minute to do, and most companies will block up to 5 numbers for free (nominal charge per blocked number after that)
by Meaty
Fri Mar 21, 2014 5:48 am
 
Forum: Personal Consumer Issues
Topic: foreign sales people calling 5 times daily
Replies: 41
Views: 3005

Re: Seriously! [Why own bonds now]

I know it's blasphemous to even think it, but I agree. I have 30 years to retirement so my 100% stock allocation is only marginally different than vanguards target date fund for my age
by Meaty
Thu Mar 20, 2014 6:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seriously! [Why own bonds now]
Replies: 35
Views: 5251

Re: Prepayment Penalties and House Loans

It's pretty rare anymore. No Fannie or Freddy loans have them
by Meaty
Wed Mar 19, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Prepayment Penalties and House Loans
Replies: 5
Views: 298

Re: Grandmother's trust is being pillaged, as far as I can t

It gained 30% since 2008? The s&p is up 150+% in that time.....
by Meaty
Wed Mar 19, 2014 5:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Grandmother's trust is being pillaged, as far as I can tell.
Replies: 11
Views: 2586

Re: Boglehead's view on Real Estate investing

Here's my view

It's illiquid
It's not diversified
It requires significant upkeep/carrying costs

I see owning a house as a lifestyle choice rather than an investment
by Meaty
Mon Mar 17, 2014 7:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Boglehead's view on Real Estate investing
Replies: 31
Views: 2993

Re: Can Employer Limit 401K Contribution?

Yes. Google "top hat provision" and "ERISA"
by Meaty
Fri Mar 14, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can Employer Limit 401K Contribution?
Replies: 17
Views: 1656

Re: How old is too old to buy first house?

Not sure age has anything to do with it
by Meaty
Thu Mar 13, 2014 6:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: How old is too old to buy first house?
Replies: 17
Views: 2322

Re: Are 20 somethings handicapped bc of inflation and little

Buried in these kinds of statistics is something that I actually find encouraging -- far more people are living to that retirement age, and are able to spend longer periods of time enjoying their time off. ;) Yes, it's a great thing that people are living longer lives, but there are also negative c...
by Meaty
Wed Mar 12, 2014 5:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Are 20 somethings handicapped bc of inflation and little SS?
Replies: 162
Views: 10504

Re: No, They're Not!

What planet are you from? I don't know anybody with a million dollars net worth, even house value included. I plan to retire long before reaching one million dollars; $1,000,000 is not an attainable number. $1,000,000 is not attainable? Why not? (Or was this a joke?) I'll tell you why not. Because ...
by Meaty
Wed Mar 12, 2014 5:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Are 20 somethings handicapped bc of inflation and little SS?
Replies: 162
Views: 10504

Re: Child Support... what counts?

I'd recommend you ask an attorney licensed in your state
by Meaty
Tue Mar 11, 2014 7:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Child Support... what counts?
Replies: 27
Views: 1479

Re: Stopping Junk Mail

Put a freeze/fraud alert on your credit report. Most companies do a soft hit to see if they should send you "preapproved" offers. It has worked wonders for me
by Meaty
Tue Mar 11, 2014 6:53 pm
 
Forum: Personal Consumer Issues
Topic: Stopping Junk Mail
Replies: 17
Views: 1259

Re: Stay or move is the financial question.

technovelist wrote:If you move to the Bay area for only a $10K pre-tax raise, you will have a much lower standard of living, including enormous taxes, horrible commuting and wildly expensive housing.

I wouldn't do it for less than a 50% raise, if even then.


+1
by Meaty
Tue Mar 11, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stay or move is the financial question.
Replies: 21
Views: 1696

Re: What do you do if your fun allocation disappears?

I don't have a "fun" portion. I don't find losing money and paying high fees "fun"
by Meaty
Mon Mar 10, 2014 7:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: What do you do if your fun allocation disappears?
Replies: 20
Views: 1378

Re: How did you get through the market crash in 08-09

i viewed it as a buying opportunity. everything was on sale and I bought as much as i could. and, when thinking about what i had that I "lost" in the crash, i thought about having another ~40 years to bounce back... +1. I even sold a car (downsized) so I could invest more. Literally did t...
by Meaty
Mon Mar 10, 2014 5:56 am
 
Forum: Investing - Theory, News & General
Topic: How did you get through the market crash in 08-09
Replies: 104
Views: 5855

Re: Money issues - people take me for granted

[quote="General Disarray"]Sounds like someone has to grow a spine.

+1
by Meaty
Sun Mar 09, 2014 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money issues - people take me for granted
Replies: 74
Views: 5386

Re: Red dot scope

Vortex strikefire
by Meaty
Thu Mar 06, 2014 8:17 pm
 
Forum: Personal Consumer Issues
Topic: Red dot scope
Replies: 11
Views: 888

Re: Will this affect your Tipping?

"You physically have to hit 'no tip' — and feel like a jerk — if you want to be stingy" I usually don't tip for to-go orders that do not involve a server or any significant amount of expo. I've used these tablet thingies while getting take-out from a sandwich shop before. And I've hit &qu...
by Meaty
Wed Mar 05, 2014 5:53 pm
 
Forum: Personal Consumer Issues
Topic: Will this affect your Tipping? [Suggested Tip Amounts]
Replies: 123
Views: 8821
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