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Re: Net Worth Survey, 2014 Edition

Lock this thread. There is nothing actionable about it.
by expat
Fri Apr 18, 2014 12:16 pm
 
Forum: Investing - Theory, News & General
Topic: Net Worth Survey, 2014 Edition
Replies: 149
Views: 18661

Re: Bogleheads Stance on Home Buying

And it always bugged me the fact that we use a special word for our home debt...mortgage. I think a mortage is a special debt and appropriately named. The word means a pledge until death. mortgage late Middle English: from Old French, literally ‘dead pledge,’ from mort (from Latin mortuus ‘dead’) +...
by expat
Tue Mar 18, 2014 1:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bogleheads Stance on Home Buying
Replies: 61
Views: 4595

Re: Vacation Rental By Owner (VRBO) - Contracts and Deposits

>> The more TIME you spend communicating with the owner/manager, the less likely it is to be a scammer who has hijacked some email account. Those scammers aren't going to waste the time having discussions about the property or area, etc. In my experience, this is not an accurate statement. I have se...
by expat
Wed Feb 19, 2014 6:02 pm
 
Forum: Personal Consumer Issues
Topic: Vacation Rental By Owner (VRBO) - Contracts and Deposits
Replies: 7
Views: 674

Re: Pitfalls of ceding an inheritance

Teachable Moment: Again, the family could have avoided probate by seeing an estate lawyer before the fact, creating a simple trust, and passing the property to the sisters, all at far less cost than the stated/fees. Not necessarily. The trust document could allow the trustee to take a fee. The trus...
by expat
Wed Jan 01, 2014 4:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pitfalls of ceding an inheritance
Replies: 29
Views: 2196

Re: Please Help a 36 Yr Old With $7m+ Portfolio

You have way too much house, IMO.
by expat
Sat Dec 28, 2013 5:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please Help a 36 Yr Old With $7m+ Portfolio
Replies: 66
Views: 10478

Re: 28 y/o Investor With 1M Portfolio Needs Advice

I think a 50/50 portfolio is fine if you are comfortable with it.

Most young people don't have a lot to lose which is why an aggressive portfolio makes sense.

You, on the other hand, have a lot to lose and I don't think the typical advice for young people applies.
by expat
Sun Dec 22, 2013 7:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: 28 y/o Investor With 1M Portfolio Needs Advice
Replies: 31
Views: 4435

Re: Kids in 5 years. Preparation with finances.

If you decide you like having kids, you won't have much time to have them if you wait until 35.
by expat
Sat Dec 21, 2013 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Kids in 5 years. Preparation with finances.
Replies: 40
Views: 1877

Re: Should I move to California from Midwest?

Unless you really want to get away from family and/or bad weather, I wouldn't do it. It's not that great.
by expat
Fri Dec 20, 2013 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I move to California from Midwest?
Replies: 153
Views: 7638

Re: I just inherited $1 million

Your wife inherited the money, not you.
by expat
Sat Dec 07, 2013 9:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: I just inherited $1 million
Replies: 65
Views: 10119

Re: Family member renting 2nd house. Ok to ignore on tax ret

Check with your CPA. In the case of below market rent, I believe your deductions (depreciation, maintenance, fees, taxes) cannot exceed your income. Or perhaps you could construct another story. A family member is staying as a guest in your second home and the $7,800 is a gift to you. It's under the...
by expat
Wed Dec 04, 2013 2:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Family member renting 2nd house. Ok to ignore on tax return?
Replies: 197
Views: 10617

Re: Grade 4. Writing Reading. Goal. "Exceed the Grade Level"

I suggest your daughter drop out of the "race to nowhere." :)

http://www.racetonowhere.com/
by expat
Tue Nov 19, 2013 6:55 pm
 
Forum: Personal Consumer Issues
Topic: Grade 4. Writing Reading. Goal. "Exceed the Grade Level".
Replies: 50
Views: 2835

Re: Grade 4. Writing Reading. Goal. "Exceed the Grade Level"

TomatoTomahto wrote:
expat wrote:Why does she have to exceed her grade level?

I am not OP, but considering how low the "grade level" bar is set, I can't disagree with a parent's wish to have their child exceed it.


I must have missed that. I read that the OP's school was :

high rated and very competitive.
by expat
Tue Nov 19, 2013 6:27 pm
 
Forum: Personal Consumer Issues
Topic: Grade 4. Writing Reading. Goal. "Exceed the Grade Level".
Replies: 50
Views: 2835

Re: Grade 4. Writing Reading. Goal. "Exceed the Grade Level"

Why does she have to exceed her grade level?
by expat
Tue Nov 19, 2013 5:39 pm
 
Forum: Personal Consumer Issues
Topic: Grade 4. Writing Reading. Goal. "Exceed the Grade Level".
Replies: 50
Views: 2835

Re: junk mail auto-readdressed during change of address

dmachoice.org can reduce some junk mail.
by expat
Sun Nov 10, 2013 1:46 pm
 
Forum: Personal Consumer Issues
Topic: junk mail auto-readdressed during change of address
Replies: 35
Views: 1758

Re: How did you start up your small business?

Regarding franchises, Gerber suggests using them as a model for creating your small business. From the same review ... For turning businesses around, or getting them off the right foot, Gerber suggests looking at franchises as a model. In comparison to the dismal rate of ordinary small-business star...
by expat
Wed Oct 23, 2013 6:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: How did you start up your small business?
Replies: 18
Views: 2051

Re: How did you start up your small business?

I would recommend this book. http://www.amazon.com/The-E-Myth-Revisited-Small-Businesses/dp/0887307280 From one of the Amazon reviews .... One of Gerber's most striking observations is that most small businesses are started by "technicians", that is people who are skilled at something and ...
by expat
Wed Oct 23, 2013 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: How did you start up your small business?
Replies: 18
Views: 2051

Re: Home Affordability

Is that 3% a year? I was using 1% of the home price and divided that into 12 to get the monthly expense of $625. Yes per year. The IRS rate of depreciation for residential real estate is roughly 3% per year of the actual structure but not the land itself. Your home price is made up of the cost of t...
by expat
Thu Oct 17, 2013 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 77
Views: 4434

Re: Home Affordability

How much should we have saved in cash for furniture, minor repairs, etc.? What about major repairs? For some reason, homeowners do not acknowledge the cost of maintaining their property. Your house, and every system and component in it, will, of course, deteriorate and become obsolete overtime. 3 p...
by expat
Thu Oct 17, 2013 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 77
Views: 4434

Re: Shiller Thinks Owning a Home is a Terrible Investment

A home is an unpaid job as a property manager, an opportunity to run an unprofitable business with no tax breaks for maintenance or depreciation, and opens the possibility of spending an excessive amount of money on unnecessary improvements.
by expat
Wed Oct 16, 2013 8:19 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller Thinks Owning a Home is a Terrible Investment
Replies: 255
Views: 20801

Re: Shiller Thinks Owning a Home is a Terrible Investment

It's speculation not investment.
by expat
Wed Oct 16, 2013 4:07 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller Thinks Owning a Home is a Terrible Investment
Replies: 255
Views: 20801

Re: Do we still need to own a home?

When you own a place even mortgage free you still have insurance,prop taxes and possibly HOA fees.You could be paying 1000 a month easy even without a mortgage. And that same place would cost $2000 to rent, because the landlord is going to be passing those costs onto you. You can't escape the expen...
by expat
Thu Oct 03, 2013 6:31 pm
 
Forum: Personal Consumer Issues
Topic: Do we still need to own a home?
Replies: 34
Views: 4213

Re: Moving to Japan Self Employed.

Does Japan even need to know about your income? I don't think I would declare it unless I had a good reason to do so.
by expat
Sun Sep 08, 2013 2:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Moving to Japan Self Employed.
Replies: 20
Views: 1957

Re: Preparing one's finances for senility - can we discuss?

Me three. Aging solo: no spouse, no kids, no siblings. I'm glad someone brought this up. I moved a long distance when I retired, and now live in an isolated semi-rural area. There are all sorts of problems when one is really solo. Just recently I had trouble finding a ride for a medical test where ...
by expat
Wed Aug 28, 2013 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Preparing one's finances for senility - can we discuss?
Replies: 27
Views: 3326

Re: Preparing one's finances for senility - can we discuss?

I would use living revocable trust with a professional fiduciary as trustee with alternates. Please clarify and define: what does this mean? In California, at least, professional fiduciaries are licensed by the State. http://www.dca.ca.gov/publications/fiduciary_need.shtml Someone I know is going t...
by expat
Tue Aug 27, 2013 2:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Preparing one's finances for senility - can we discuss?
Replies: 27
Views: 3326

Re: Preparing one's finances for senility - can we discuss?

I would use living revocable trust with a professional fiduciary as trustee with alternates.
by expat
Tue Aug 27, 2013 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Preparing one's finances for senility - can we discuss?
Replies: 27
Views: 3326

Re: Moving brother out of Mom's house

Is your brother taking care of your mother? If that it is the case, I would hope, in her estate plan, that she would leave a disproportionately larger share of the estate to him as compensation.
by expat
Fri Aug 23, 2013 1:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Moving brother out of Mom's house
Replies: 26
Views: 4367

Re: Kindergarten Struggles

Talk to your grandson.
by expat
Tue Aug 20, 2013 6:26 pm
 
Forum: Personal Consumer Issues
Topic: Kindergarten Struggles
Replies: 39
Views: 4421

Re: solo 401(K) questions

I contribute the employee portion first for two reasons. - The employee contribution must be done by the end of the calendar year whereas the employer contribution does not have to be done until the tax-time up until October. - The employer contribution is dependent on overall net income which is no...
by expat
Tue Aug 20, 2013 6:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: solo 401(K) questions
Replies: 20
Views: 1262

Re: RBD (Really Bad Day) today ?

Wait for a really bad year.
by expat
Fri Aug 16, 2013 5:44 pm
 
Forum: Investing - Theory, News & General
Topic: RBD (Really Bad Day) today ?
Replies: 69
Views: 6851

Re: Can I afford a house payments in Bay Area?

Why do you want to buy a house? You lose your mobility and flexibility and have to take on the time and expense of maintaining a property.
by expat
Tue Aug 13, 2013 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a house payments in Bay Area?
Replies: 33
Views: 3045

Re: Estate planning, second marriage, kids and steps

Who do you want to ultimately receive your assets?

If it is your daughters, I would look into a QTIP trust and use a bank to act as a trustee to avoid a conflict. You will a need a bank that is willing and able to take on your investment properties.
by expat
Sat Aug 10, 2013 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate planning, second marriage, kids and steps
Replies: 45
Views: 3353

Re: college savings for kids - how much?

I limit college savings to 10 percent of my investment portfolio to ensure I don't save too much for college at the expense of retirement.
by expat
Wed Aug 07, 2013 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: college savings for kids - how much?
Replies: 20
Views: 1904

Re: Your Home is Not a Good Investment

When you buy a home, you are taking on an unpaid part-time job, imo.
by expat
Sun Aug 04, 2013 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your Home is Not a Good Investment
Replies: 145
Views: 11552

Re: International Driving Permit

We are going to Ireland in September for two weeks with a likely side trip to England and Scotland. Its been suggested we get an International Driving Permit. I checked with Irish Car Rental and they said my license is fine as long as its in Roman Script. I have not yet checked the other rental age...
by expat
Sat Aug 03, 2013 4:34 pm
 
Forum: Personal Consumer Issues
Topic: International Driving Permit
Replies: 30
Views: 1520

Re: SEP-IRAs and Solo 401ks for side income

Does this mean I should open both a Solo 401k and a SEP-IRA so I can get 20% from both?


The 20% of net self-employment contribution is shared between all retirement accounts so there is no need to open up both.
by expat
Fri Jul 26, 2013 5:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: SEP-IRAs and Solo 401ks for side income
Replies: 5
Views: 324

Re: SEP-IRAs and Solo 401ks for side income

From the wiki : http://www.bogleheads.org/wiki/Solo_401k_plan http://www.bogleheads.org/wiki/SEP In your situation, I would use a SEP IRA for the side income and continue to contribute the maximum to my employer's 401K assuming it had low fees and good investment options. If my self-employment incom...
by expat
Fri Jul 26, 2013 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: SEP-IRAs and Solo 401ks for side income
Replies: 5
Views: 324

Re: Small Business Banking Recommendations (California)

Chase Bank is working well for me. No fee for accounts with average daily balances over 10K.
by expat
Thu Jul 25, 2013 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small Business Banking Recommendations (California)
Replies: 4
Views: 211

Re: Community college a better option to start college?

Having been through it, I question the wisdom and necessity of sending an 18 year old off to live in a college dormitory. Community college could be a better option.
by expat
Sat Jul 20, 2013 6:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Community college a better option to start college?
Replies: 122
Views: 6071

Re: How Can I Avoid the $95 Edward Jones Account Closing Fee

WEL wrote:P.S. I would call Edward Jones directly for suggestions but I'm guessing they would not be too helpful. :happy


I think you're wrong there. Call them and politely ask them to waive the fee as a courtesy. It works for me.
by expat
Tue Jul 02, 2013 11:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: How Can I Avoid the $95 Edward Jones Account Closing Fee?
Replies: 34
Views: 3827

Re: Please give me some tax advice, newly self-employed.

In the first year, I used tax software, and plugged in estimates for income, deductions, business expenses, retirement contributions etc and paid quarterly taxes based on what the software proposed. It is possible to underestimate and there could be penalties but they are not very significant. Also,...
by expat
Tue Jun 11, 2013 6:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Please give me some tax advice, newly self-employed.
Replies: 18
Views: 888

Re: France - Paris / Nice - Must do List

I don't mean to hijack this thread as my question is related. I am going to France, Paris and the Nice area, in September. I and my wife are on Medicare and Tricare. Do I need some kind of health insurance? Yes, I know that medicare will not cover us. Just wondering how the French health system wor...
by expat
Tue Jun 04, 2013 4:21 pm
 
Forum: Personal Consumer Issues
Topic: France - Paris / Nice - Must do List
Replies: 92
Views: 4133

Re: Cheap Cell Service in France

There are cell phone stores everywhere in France. e.g. SFR, Orange, Bouygues. With your passport and credit card, you can buy a pay as you go phone and some initial minutes for around $30 - $40. I just buy a phone there so I don't have to get a French power adapter for my US phone. It's easier to ge...
by expat
Tue Jun 04, 2013 2:27 pm
 
Forum: Personal Consumer Issues
Topic: Cheap Cell Service in France
Replies: 12
Views: 967

Re: France - Paris / Nice - Must do List

Try couscous. It's a North African dish very popular in France.
by expat
Sun Jun 02, 2013 1:57 pm
 
Forum: Personal Consumer Issues
Topic: France - Paris / Nice - Must do List
Replies: 92
Views: 4133

Re: What you tell yourself when you end up buying at a peak

As long as I follow my IPS, I can't (easily) buy at peaks anymore.
by expat
Sat Jun 01, 2013 5:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: What you tell yourself when you end up buying at a peak
Replies: 47
Views: 3388

Re: "As is" clause in real estate

A first time buyer should avoid an "atypical situation", IMO. Is buying "as is" atypical? I suppose in some areas it is, but in NYC (a fairly litigious area) selling 100+ year old properties "as is" is not totally unheard of. Sometimes the seller just wants a definite ...
by expat
Thu May 30, 2013 4:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: "As is" clause in real estate
Replies: 41
Views: 1919

Re: "As is" clause in real estate

A first time buyer should avoid an "atypical situation", IMO.
by expat
Thu May 30, 2013 2:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: "As is" clause in real estate
Replies: 41
Views: 1919

Re: One doc's interesting revolt against the payment system

- no insurance, no medicare, no medicaid, no electronic records. http://www.ciampifamilypractice.com/FAQs.html Per the FAQ, you can get file the paperwork to get reimbursed or have the amount applied to your deductible. Most consumers seem to think the healthcare provider has the file paperwork but...
by expat
Thu May 30, 2013 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: One doc's interesting revolt against the payment system
Replies: 65
Views: 5522
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