Search found 189 matches

Return to advanced search

Re: Making an offer today

My advice: Be patient. I don't think this is the place for you. You would know if it was. Don't settle. FWIW: We are first-time home buyers. We closed in April. We made an offer on a house in February that ultimately fell through. At the time, I couldn't imagine NOT getting that house...it was perfe...
by Savvy
Thu Oct 23, 2014 2:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4654

Re: How to Minimize Taxes: Family Selling Farm (Estate Plann

Thank you also to jared, harmony, and smackboy1. I really appreciate the feedback. I do not fully grasp the concepts you bring up but will definitely pass this along to my family members that are working with the CPA. There may be a delay for a couple days as this information is passed back-and-fort...
by Savvy
Tue Aug 12, 2014 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Taxes: Family Selling Farm (Estate Planning)
Replies: 21
Views: 1685

Re: How to Minimize Taxes: Family Selling Farm (Estate Plann

Are there any improvements they have made on the farm that they can deduct? I am thinking new fences, barns or roads and not repairs. You can delay taxes if you make exchanges in like kind properties. If there are certain rental losses that they could not take if their income was too high, they mig...
by Savvy
Tue Aug 12, 2014 4:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Taxes: Family Selling Farm (Estate Planning)
Replies: 21
Views: 1685

Re: How to Minimize Taxes: Family Selling Farm (Estate Plann

Estate taxes shouldn't be a big deal (unless they own another $4+ Million or you're in a state with a lower exemption amount), so the main goal I would think would be avoiding the capital gains taxes. The key to that ought to be getting the step-up in basis. Who owns the farm and is there some reas...
by Savvy
Tue Aug 12, 2014 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Taxes: Family Selling Farm (Estate Planning)
Replies: 21
Views: 1685

Re: How to Minimize Taxes: Family Selling Farm (Estate Plann

This is basic stuff for a CPA. The biggest mistake is not using a CPA that understands farms. Beyond that any advice here is speculation. If the property is sold the taxes are what they are. Im not sure if the tax situation changes based on how the farm was being run, but at this point im sure ther...
by Savvy
Mon Aug 11, 2014 9:49 am
 
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Taxes: Family Selling Farm (Estate Planning)
Replies: 21
Views: 1685

How to Minimize Taxes: Family Selling Farm (Estate Planning)

Hey Bogleheads! Close family are selling their farmland / home in the coming months for roughly $1M. They acquired the property many decades prior for, and I'm guessing here, $100K. They recently purchased a house to move into, not on farmland or anything, for roughly $200K. They have been leasing t...
by Savvy
Sun Aug 10, 2014 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Taxes: Family Selling Farm (Estate Planning)
Replies: 21
Views: 1685

Re: Should I enroll in my employers Dependent Care FSA?

I recommend lowering 457b and raising hsa contributions. I assume you're recommending to up the HSA due to it being the only triple tax deferred account available? Unfortunately, I can't afford to leave the money in the HSA and pay my medical bills out of pocket. šŸ˜‚ I only sort of understand. You do...
by Savvy
Sat Jun 14, 2014 11:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I enroll in my employers Dependent Care FSA?
Replies: 20
Views: 1282

Re: Should I enroll in my employers Dependent Care FSA?

I recommend lowering 457b and raising hsa contributions.
by Savvy
Fri Jun 13, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I enroll in my employers Dependent Care FSA?
Replies: 20
Views: 1282

Re: Mortgages/Black Swans/Larry Portfolio/Antifragility

What about risk of rent going up? What if rent and house prices both go up, person A is sort of trapped, right?
by Savvy
Fri Jun 13, 2014 3:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mortgages/Black Swans/Larry Portfolio/Antifragility
Replies: 27
Views: 1830

Re: Help Please: Mortgage Advice

I live in MN and it's not overly unusual on open enrollment. You just have to be able to get the kids into the normal bus route or drop them off...We live two blocks from a better public school district. In MN you can actually attend a different public school district than the one you live in? In m...
by Savvy
Sun Jun 01, 2014 12:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Mortgage Advice
Replies: 15
Views: 1393

Re: Help Please: Mortgage Advice

This is your biggest opportunity in your life to save money. Pay for what you need and not what you don't need. It'll take awhile to find that exact house. http://www.mrmoneymustache.com/2013/09/04/how-and-how-not-to-buy-a-house/ Our gross income is 110k and we are also thinking of starting a famil...
by Savvy
Sat May 31, 2014 11:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Mortgage Advice
Replies: 15
Views: 1393

Re: Help Please: Mortgage Advice

This is your biggest opportunity in your life to save money. Pay for what you need and not what you don't need. It'll take awhile to find that exact house. http://www.mrmoneymustache.com/2013/09/04/how-and-how-not-to-buy-a-house/ Our gross income is 110k and we are also thinking of starting a family...
by Savvy
Sat May 31, 2014 12:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Mortgage Advice
Replies: 15
Views: 1393

Re: First Mortgage Payment

Thank you all for the great feedback. It sounds like I should just talk to my lender to clarify. Maybe it's silly, but it seems like some of you participate in this same action...and no, we're not at all strapped for cash.
by Savvy
Sat May 17, 2014 3:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: First Mortgage Payment
Replies: 18
Views: 954

Re: Visiting Minnesota Suggestions?

BWCA is amazing. Permit needed. Isle Royale is on my wish list.

Stillwater is a short drive from St Paul and has a beautiful small town view with walk along the river.

Mall of America does not need to be visited.

Look into Nice Ride when in twin cities for biking.

Welcome!!!
by Savvy
Sat May 17, 2014 9:34 am
 
Forum: Personal Consumer Issues
Topic: Visiting Minnesota Suggestions?
Replies: 36
Views: 2222

First Mortgage Payment

Hello all, My wife and I recently bought a house :) Our first payment is "due" on June 1 but the letter also says that if payment is not received by June 16 we will incur a late penalty of $38.12. So...when is the mortgage payment actually due...June 15? How do you time your payments? Than...
by Savvy
Sat May 17, 2014 9:24 am
 
Forum: Personal Finance (Not Investing)
Topic: First Mortgage Payment
Replies: 18
Views: 954

Re: 31 yo single income with 3 small children: What to do?

To all who have replied, thanks a ton! I appreciate all your feedback to help me get everything in order (or at least as close to orderly as possible). To answer a couple of questions/comments: 1) I have a $500,000 term life insurance policy I pay for through my employer and my employer provides a ...
by Savvy
Thu May 08, 2014 1:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: 31 yo single income with 3 small children: What to do?
Replies: 31
Views: 3824

Re: How much house can you afford to buy? When is it to much

We almost fell into this trap. We're mid-20s. You should know how much house you can afford BEFORE looking at houses. Then, try to buy a house below what you can afford. Put tons of work into looking at homes, you can find one that meets your needs for less money. We bought a house that is about 1.6...
by Savvy
Sun May 04, 2014 11:09 am
 
Forum: Personal Finance (Not Investing)
Topic: How much house can you afford to buy? When is it to much?
Replies: 34
Views: 4243

Re: Brown bagging in a more formal office

Another young professional here! I have a lunch bag similar to the below, except mine is just solid blue : http://www.target.com/p/built-neop-lunch-s-monster-mashup/-/A-14461048#prodSlot=medium_1_18&term=lunch My rule of thumb: I bring a lunch every single day in this blue lunch tote. Usually it...
by Savvy
Wed Apr 09, 2014 2:19 pm
 
Forum: Personal Consumer Issues
Topic: Brown bagging in a more formal office
Replies: 43
Views: 4869

Re: Mr. Money Mustache: Hero or Foolish?

His blog was my motivation to buy a bike.. "it's ludicrous to drive a massive, gas guzzling suv across town to work out on a treadmill, while watching. Get on your bike, walk, get moving. An ex-co-worker told me about a guy who rode his bicycle to work every day. He was doing that one morning ...
by Savvy
Mon Mar 31, 2014 1:06 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 255
Views: 36263

Re: Best Mortgage Type for 1st-timers: 30-YR Fixed?

Thank you all for the great advice. In general, we could afford to pay a 15-year mortgage but it would substantially damage the tax-advantaged retirement savings contributions. We'd like to pay at the amount per month similar to a 30-year mortgage. It sounds like the 10/1, 15/15, and 7/1 are all wor...
by Savvy
Tue Mar 25, 2014 8:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Mortgage Type for 1st-timers: 30-YR Fixed?
Replies: 19
Views: 1275

Best Mortgage Type for 1st-timers: 30-YR Fixed?

Hey Bogleheads! My wife and I are purchasing our first home. We are putting 20% down. We would expect to be in the home for 10-12 years. Should we be considering any type of loan besides a 30-year fixed? We do not want to pay off the loan quicker than the 30-year schedule, but since we don't expect ...
by Savvy
Tue Mar 25, 2014 2:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Mortgage Type for 1st-timers: 30-YR Fixed?
Replies: 19
Views: 1275

Re: finding ways to save money

mr money mustache has dramatically changed how my wife and I spend money. His basic premise is that you can spend less without lowering happiness. Keep in mind that you need around 25x expenses in retirement savings to retire (we could debate the multiple) which means that if you lower your annual s...
by Savvy
Sun Mar 02, 2014 7:19 am
 
Forum: Personal Finance (Not Investing)
Topic: finding ways to save money
Replies: 39
Views: 4022

Re: Dave Ramsey's voice is in my head...

My suggestion...sell the car and don't buy another one.

Before selling, try actually only using one car for a week. Hopefully, although it's more effort, you'll realize that you can get by with one. I hope this helps!

Savvy
by Savvy
Mon Feb 10, 2014 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey's voice is in my head...
Replies: 70
Views: 7787

Re: vacation to Disneyworld

Great time (in terms of kids' ages) to go! 1. Look for the apps showing line times - I think one is about $7 but well worth it. We would plan our day ahead of time and then adjust according to the app line times. so helpful. If you're waiting in line for more than 45 minutes at any ride you've done ...
by Savvy
Mon Feb 10, 2014 10:58 am
 
Forum: Personal Consumer Issues
Topic: vacation to Disneyworld
Replies: 23
Views: 2069

Re: How much financial support should you give your kids?

As someone that graduated from college two and 1/2 years ago, I can tell you that the money would be very, very appreciated. However, I think that receiving this gift on graduation could likely cost them the same amount or more in their lifetime if they rely on this money rather than their own hard ...
by Savvy
Sun Feb 02, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much financial support should you give your kids?
Replies: 53
Views: 3384

Re: Low Income Budget

Klarose - welcome to the forum! You will find lots of knowledgeable folks here.

Can you or your significant other look for a part-time job to boost your income?

I understand that you are not eager to earn a crazy amount of money, but think of it as savings for when you do have kids in the future.
by Savvy
Thu Jan 30, 2014 7:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low Income Budget
Replies: 70
Views: 4952

Re: Multiple Offers on House: Best and Final Bid Needed Toni

Can someone help me - I never understood the reasoning in submitting a bid to buy where the seller pays the closing costs. I've been a seller and If I got an offer like that I'd be inclined to tell them to stick it all things being equal. Just give me a clean offer with no monkeying around. I ain't...
by Savvy
Thu Jan 30, 2014 10:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Multiple Offers on House: Best and Final Bid Needed Toni

I read this thread long after the deadline passed. It wasn't much time to post on bogleheads the same day. I bought a high-end foreclosed home, more precisely an "REO" that was listed on MLS. The previous owners had been trying to sell it for about $1.6 million for 2 years before it got f...
by Savvy
Thu Jan 30, 2014 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: UPDATE

We offered $184K, seller pays closing cost as our best and final offer. Just found out that a third buyer also submitted a bid, and we finished last of the 3 bids. I was very confident we'd get it since it was at $180K for 3 weeks before we submitted our bid. However, we don't feel too bad about no...
by Savvy
Wed Jan 29, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Multiple Offers on House: Best and Final Bid Needed Toni

If the OP's market is like our market, there really aren't bidding wars, just multiple-offer situations where each buyer is asked for highest-and-best. There is no second counter-offer, so it's not really a war where you are trying to one-up other buyers. We missed out on our first three highest-an...
by Savvy
Wed Jan 29, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: UPDATE

We offered $184K, seller pays closing cost as our best and final offer. Just found out that a third buyer also submitted a bid, and we finished last of the 3 bids. I was very confident we'd get it since it was at $180K for 3 weeks before we submitted our bid. However, we don't feel too bad about not...
by Savvy
Wed Jan 29, 2014 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Train tickets in Italy-Wow!!

Have you considered flying? It may be cheaper.

Ryanair
Skyscanner
by Savvy
Wed Jan 29, 2014 2:41 pm
 
Forum: Personal Consumer Issues
Topic: Train tickets in Italy [trouble booking with Trenitalia]
Replies: 22
Views: 2293

Re: Multiple Offers on House: Best and Final Bid Needed Toni

What we did was (I forget the exact wording; we worked with a Realtor who helped with the specifics) to offer something like "$X,xxx more than the next highest offer, but not to exceed $YYY,yyy". Just don't overbid to some extent that later you might regret it. RM I didn't that maneuver w...
by Savvy
Tue Jan 28, 2014 6:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Multiple Offers on House: Best and Final Bid Needed Toni

kenyan wrote:Don't make a counter offer based upon what you think someone else might be thinking, especially since you have no information about anyone else. Just make an offer that you are comfortable with for your family with your finances.


Thanks kenyan, well said and very true.
by Savvy
Tue Jan 28, 2014 5:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Multiple Offers on House: Best and Final Bid Needed Toni

What we did was (I forget the exact wording; we worked with a Realtor who helped with the specifics) to offer something like "$X,xxx more than the next highest offer, but not to exceed $YYY,yyy". Just don't overbid to some extent that later you might regret it. RM I didn't that maneuver w...
by Savvy
Tue Jan 28, 2014 5:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Multiple Offers on House: Best and Final Bid Needed Toni

nyblitz wrote:How exactly do you know there is another offer? The word of the bank?


The seller notified our Realtor.
by Savvy
Tue Jan 28, 2014 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Multiple Offers on House: Best and Final Bid Needed Tonight!

Hey BHs, My wife and I are trying to purchase a house. It's foreclosed. It started at 219,900, dropped to 209,900, dropped to 199,900, dropped to 189,900, and is now listed at 179,900 155 days later. Long story short: we like it and it's in our price range. We put in an offer, so did someone else ap...
by Savvy
Tue Jan 28, 2014 4:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple Offers on House: Best and Final Bid Needed Tonight!
Replies: 38
Views: 3487

Re: Do You Consider the Opportunity Cost of Owning a Home?

Personally, I had rather own my home than rent, but you might find this interesting: https://www.khanacademy.org/economics-finance-domain/core-finance/housing/renting-v-buying/v/renting-vs--buying-a-home?utm_source=Sailthru&utm_medium=email&utm_term=Stuff%20You%20Might%20Like%20Testing%20Se...
by Savvy
Mon Jan 20, 2014 11:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do You Consider the Opportunity Cost of Owning a Home?
Replies: 54
Views: 3698

Re: Do You Consider the Opportunity Cost of Owning a Home?

Wow, thank you all for the fantastic feedback. I really appreciate the time you spent! @Abe, Thanks for the video! Just watched and will be asking my wife to watch as well. Very straightforward. @jimb, I appreciate the critique of the author of the article I posted. This is why I love this forum! @L...
by Savvy
Mon Jan 20, 2014 10:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do You Consider the Opportunity Cost of Owning a Home?
Replies: 54
Views: 3698

Do You Consider the Opportunity Cost of Owning a Home?

We are debating purchasing a home. We know the neighborhood we want to live in, but are waiting for the right home to come up for sale. After "running the numbers" similar to the post by jlcollins, it appears that it's rarely financially beneficial to purchase a home, when considering main...
by Savvy
Mon Jan 20, 2014 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do You Consider the Opportunity Cost of Owning a Home?
Replies: 54
Views: 3698

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

I know the answer for sure! It's 1799.
by Savvy
Thu Jan 02, 2014 2:52 pm
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 536
Views: 14087

Re: Single & Frugal or Coupled & (Financially) Incompatible?

Married and frugal is the best! :D FWIW, we're in our 20s. My wife would be the first to admit she knew very little about money prior to our marriage. Once she understood more about saving for retirement, where money goes, how to budget, etc. she appreciated frugality more. A big portion of people j...
by Savvy
Thu Jan 02, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Single & Frugal or Coupled & (Financially) Incompatible?
Replies: 77
Views: 5888

Re: Tired [of Corporate Life]

You're ABSOLUTELY right Savvy. The commute is a killer. Don't need to read about it - I live it. My days are very long! Plan on starting to work from home 1 day/week and leave earlier for work in the morning to avoid traffic (something that, for some reason, I find difficult). I'd like to move clos...
by Savvy
Fri Dec 27, 2013 11:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Tired [of Corporate Life]
Replies: 57
Views: 6853

Re: Tired [of Corporate Life]

Really like my house - it has a large garden that my wife and I really enjoy. Also my wife works only 3 miles from the house - very convenient for her (not me though). Recently, must admit that I did buy nice car - but I drive 1 hour to 1.5 hours to work each day each way. But I take your point - c...
by Savvy
Thu Dec 26, 2013 4:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tired [of Corporate Life]
Replies: 57
Views: 6853

Re: Target Credit/Debit Card Hacks - what to do?

We just cancelled our account (we had a debit card). Took about 15 phone calls in a ten minute span before one went through. Pretty painless 5-minutes of holding, 5-minute conversation with a nice gentleman. Cancellation is effective immediately.
by Savvy
Mon Dec 23, 2013 2:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Target Credit/Debit Card Hacks - what to do?
Replies: 94
Views: 6856

Re: Roth - spousal vs employee contribution?

I would recommend asking your broker. My wife and I do all the Roth contributions ourselves and don't work through a broker. Who is the roth designated for, you or your spouse?
by Savvy
Tue Dec 17, 2013 1:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth - spousal vs employee contribution?
Replies: 4
Views: 249

Re: No emergency fund for me. I use inverse ETF's as a sub

I won't buy into the strategy until I read your newsletter.
by Savvy
Mon Dec 16, 2013 11:11 pm
 
Forum: Investing - Theory, News & General
Topic: No emergency fund for me. I use inverse ETF's as a sub
Replies: 80
Views: 5158

Re: I Need to Leave My Financial Advisor

You do not owe him/her a reason for leaving.
by Savvy
Mon Dec 16, 2013 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: I Need to Leave My Financial Advisor
Replies: 66
Views: 6570

Re: Going back to school for more money.

I cannot speak to the Pharm option. I do not work for a public accounting firm but a Fortune 500 where it's clear that CPAs have more opportunities (and better paying ones) than accountants without CPAs. Have you considered this?

Good luck!
Savvy
by Savvy
Sat Dec 14, 2013 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Going back to school for more money.
Replies: 7
Views: 660

Re: Considering a "Year Off" from retirement contributions..

DFW: --I am sorry to hear about the infertility challenges. Close family have dealt with similar and it's not easy (emotionally or financially). Stay persistent and tough and maybe things will work out for the good! Good for you guys for continuing to pursue children despite the emotional rollercoas...
by Savvy
Sat Dec 14, 2013 12:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Considering a "Year Off" from retirement contributions.....
Replies: 64
Views: 5576
Next

Return to advanced search