Search found 238 matches

by orcycle
Fri Jan 12, 2024 2:00 pm
Forum: Personal Investments
Topic: Capital One $1500 bonus offer on HYSA question
Replies: 40
Views: 3989

Re: Capital One $1500 bonus offer on HYSA question

How long did it the funds to show up at Cap. One when you pushed them from Fidelity? The first pull of the $100,000 from Capital One (after verifying the Fidelity account with those two small deposits) took two days to appear in my Capital One account as 'Pending.' It took another two days (today) to show that money as available. I pulled a second amount of $100 as a buffer and that still shows as Pending, I expect it will be available by Monday. This is why I wouldn't wait too close to the 15th day to fund the account. Are you still trying to get this bonus? Good luck, mine went through pretty easily, so I feel fortunate. Yes, still trying to get bonus. I haven't set up Fidelity yet. Do I just go into fidelity and input routing/account fo...
by orcycle
Fri Jan 12, 2024 1:23 pm
Forum: Personal Investments
Topic: Capital One $1500 bonus offer on HYSA question
Replies: 40
Views: 3989

Re: Capital One $1500 bonus offer on HYSA question

bookgirl wrote: Fri Jan 12, 2024 12:31 pm How long did it the funds to show up at Cap. One when you pushed them from Fidelity?
The first pull of the $100,000 from Capital One (after verifying the Fidelity account with those two small deposits) took two days to appear in my Capital One account as 'Pending.' It took another two days (today) to show that money as available. I pulled a second amount of $100 as a buffer and that still shows as Pending, I expect it will be available by Monday.

This is why I wouldn't wait too close to the 15th day to fund the account. Are you still trying to get this bonus? Good luck, mine went through pretty easily, so I feel fortunate.
by orcycle
Fri Jan 12, 2024 11:28 am
Forum: Personal Investments
Topic: Capital One $1500 bonus offer on HYSA question
Replies: 40
Views: 3989

Re: Capital One $1500 bonus offer on HYSA question

I had a very bad experience with this. Opened a new account a few days back and they asked me to upload my driver license to complete the verification. Up to this point as well, got a few errors "Oops.. we hit a snag". I uploaded and after a few hours, got a mail saying account is open. I had setup only a $500 transfer during the account opening. Within one day, another email saying account is restricted. Go to the site, same errors. Uploaded the driver license again. Two days went by. No action and no update. Tried calling them.. very long wait time. Finally, I spoke to them yesterday and said I simply want to close my account. Even to do that, one more time upload of my driver license! So, this is third time! One person verifie...
by orcycle
Thu Jan 11, 2024 10:33 am
Forum: Personal Investments
Topic: Capital One $1500 bonus offer on HYSA question
Replies: 40
Views: 3989

Re: Capital One $1500 bonus offer on HYSA question

I signed up for this and initiated a transfer from Fidelity on January 8. It's still showing as pending today, so I would initiate funding well before the 15 days expire to make sure you qualify for the bonus. I'm also wondering if I shouldn't add a bit more just in case there are any random fees that drop my balance below $100,000 and disqualify me from the maximum bonus, that would be really annoying. Does Fidelity charge a fee to send money to Cap. One? No, none of the brokerages do, and the major banks don't either - except for BoA, which charges $3 to send money via ACH to another bank, easily avoided by "pulling" from the other bank. I don't see any fees associated with my transfer, never have, as 02nz says. I transferred a...
by orcycle
Thu Jan 11, 2024 10:14 am
Forum: Personal Investments
Topic: Capital One $1500 bonus offer on HYSA question
Replies: 40
Views: 3989

Re: Capital One $1500 bonus offer on HYSA question

I signed up for this and initiated a transfer from Fidelity on January 8. It's still showing as pending today, so I would initiate funding well before the 15 days expire to make sure you qualify for the bonus. I'm also wondering if I shouldn't add a bit more just in case there are any random fees that drop my balance below $100,000 and disqualify me from the maximum bonus, that would be really annoying.
by orcycle
Sun Jan 07, 2024 6:24 pm
Forum: Personal Investments
Topic: Where to park 100k for under a year?
Replies: 32
Views: 4936

Re: Where to park 100k for under a year?

Thanks for sharing this Capital One promo, I just signed up!
by orcycle
Thu Dec 21, 2023 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Zelle acceptance as B2B transactions?
Replies: 3
Views: 505

Re: Zelle acceptance as B2B transactions?

I'm a commercial landlord and I receive Zelle rent payments from two tenants. My bank doesn't (or didn't in the past) allow for multiple bank accounts to use Zelle, so I limited it to my business checking account for the building with the two tenants who pay me via Zelle. I think my bank (US Bank) now allows Zelle functionality on multiple accounts but I haven't bothered to check. Both the sender and recipient need to have participating banks to use Zelle, I have another commercial tenant whose credit union doesn't use Zelle so I had to use something else, as his checks would never arrive on time (was the mailman's fault, not my tenant's). Just make sure you're dealing with the correct entity when sending money via Zelle, I've read that the...
by orcycle
Tue Dec 19, 2023 8:18 pm
Forum: Personal Consumer Issues
Topic: Can I afford to splurge on a Tesla?
Replies: 92
Views: 9857

Re: Can I afford to splurge on a Tesla?

Unless you plan on driving the Tesla long distances when you're not commuting, you don't need to install a Level 2 charger. A 15-mile commute (and if you can charge at work, you can top up while working) won't require anything faster than the standard 110 outlet.

I think you can afford it, especially if you qualify for any rebates/tax credits, and not having to go to a gas station for one car might make you want to get a second EV or maybe a PHEV later. That's pretty much what we have in our household (2 EVs (1 Tesla) and 1 PHEV); avoiding the gas station is very nice.
by orcycle
Sat Dec 16, 2023 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Does Over-Funding a 529 Make Sense vs UTMA
Replies: 16
Views: 2056

Re: Does Over-Funding a 529 Make Sense vs UTMA

About 12 years ago, we converted our children's UTMAs to 529s. We took a tax hit for the conversion, but in hindsight, I'm glad we did. Now our kids are in college and the 529s grew to the point where they will likely have excess funds which they can use for their own child(ren) many years from now, and in the meantime leave the excess funds in an aggressive portfolio. If they want to withdraw the funds for other reasons, they can take the tax and penalty hits, though I would advise them against it and offer alternatives if we are in a position to do so.
by orcycle
Sat Dec 09, 2023 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Accident with uninsured driver
Replies: 100
Views: 11149

Re: Accident with uninsured driver

I was hit by an uninsured motorist while cycling about four years ago, my injuries were severe. I hired someone I knew (I was an attorney at the time but not a personal injury attorney) after I told him how much UIM coverage I had. It took over three years to settle with my own insurance company, but it was for the full policy amount (low seven figures). My attorney got 1/3 plus costs, and he negotiated down my medical bills from somewhere around $300,000 to $40,000, so that was a relief. My insurance claim seemed to go against my homeowners/umbrella, not my auto. I don't live in CA so maybe it's different but insurance seems to be nationally pretty similar. I too was worried about my premiums going up, but they didn't, and since my case to...
by orcycle
Thu May 18, 2023 10:56 pm
Forum: Personal Investments
Topic: Best place for cash position at Fidelity
Replies: 16
Views: 4216

Re: Best place for cash position at Fidelity

I recently moved most of my cash at Fidelity to FMOXX, a tax-exempt MMF. I was willing to trade return for tax-free income, but I primarily wanted my AGI to be lower to be eligible for certain tax credits and this might help me get there without any added risk. My only complaint is that Fidelity doesn't treat it as a sweep fund, so I can't write checks off of it, so I keep enough money in SPAXX to pay bills. FMOXX cannot be a sweep fund in that Fidelity won't use any credit in the account to purchase FMOXX. But FMOXX should be liquidated automatically if there is debit in the account and you have exhausted the sweep MMF. So you should be able to use FMOXX to pay bills and checks that are written on the account. FZEXX is better than FMOXX i...
by orcycle
Thu May 18, 2023 8:29 am
Forum: Personal Investments
Topic: Best place for cash position at Fidelity
Replies: 16
Views: 4216

Re: Best place for cash position at Fidelity

I recently moved most of my cash at Fidelity to FMOXX, a tax-exempt MMF. I was willing to trade return for tax-free income, but I primarily wanted my AGI to be lower to be eligible for certain tax credits and this might help me get there without any added risk. My only complaint is that Fidelity doesn't treat it as a sweep fund, so I can't write checks off of it, so I keep enough money in SPAXX to pay bills.
by orcycle
Thu Mar 23, 2023 1:14 pm
Forum: Personal Investments
Topic: 529 Plan only or do you also have a separate Investment account for child?
Replies: 20
Views: 1830

Re: 529 Plan only or do you also have a separate Investment account for child?

So, for example, let’s say all 529 eligible costs for the year are 30k. You pay 30k from the 529. If that’s all you do, there’s no taxable distribution. But now you realize you are eligible for the AOTC. You simply treat the first 4k of tuition as if it was not paid from the 529. This pushes 4k of the 529 distribution into the taxable distribution space. So the *earnings portion* of that 4k will be taxable. But because you “made it” taxable to claim the AOTC, there’s no 10% penalty. You end up with the $2500 credit minus whatever the tax on the earnings portion of the 4k 529 distribution is. Hope that helps; others are probably better at explaining it. ETA: corrected the page numbers I cited Thanks, Pdxnative. If I understand correctly, th...
by orcycle
Thu Mar 23, 2023 11:51 am
Forum: Personal Investments
Topic: 529 Plan only or do you also have a separate Investment account for child?
Replies: 20
Views: 1830

Re: 529 Plan only or do you also have a separate Investment account for child?

Also depending on your AGI you might qualify for the ATOC in which case you will want $16K per child (4K per year) outside of the 529 plan. I used a combination of CDs, Savings and Ibonds for this... That’s probably how most people approach coordinating tax credits and 529 distributions, but just want to note that one can use 529 funds to pay for all college expenses and still claim the full tax credit. The earnings portion of 4k of the 529 distribution (in the case of claiming the AOTC for example) becomes taxable but there’s no penalty. There’s a section in pub 970 on coordinating AOTC/LLC and 529 distributions that explains how this works. Can you quote the language in IRS Pub 970 that you're talking about? I assume you're referring to ...
by orcycle
Sat Mar 18, 2023 11:10 am
Forum: Personal Consumer Issues
Topic: Is the US facing major EV home charging problems?
Replies: 83
Views: 4990

Re: Is the US facing major EV home charging problems?

I didn't think I would take my Tesla on road trips, but I recently did and it worked out great, even in February in colder temperatures. But I was traveling almost exclusively on I-5 between Oregon and California. For a couple years at least, I think Tesla's Supercharger network will be an advantage over other EVs, even as Tesla opens them up to non-Teslas. Since you already want one, I thought I would point out this advantage, apart from the other negatives of Tesla/Musk. As for home charging, we have a total of three cars that take charging and one Level 2 charging station. When the kids are home from college, I have to manage charging schedules more closely, but when it's just an empty nest, it's pretty easy. We have a 200A panel, and I ...
by orcycle
Mon Jan 30, 2023 8:09 am
Forum: Personal Finance (Not Investing)
Topic: How much will you get as Costco Citi reward this year?
Replies: 112
Views: 16727

Re: How much will you get as Costco Citi reward this year?

Around $600. We don’t buy much gas but excited to see that they added EV charging as a 4% catagory, although I probably spent less than a tank of gas all year at public EV chargers. A couple of trips (airfare plus hotel) account for most of the rewards beyond Costco. I now have a 2% on everything Wells Fargo rewards cards for everything else. I think the direct deposit option is only available on valences over 300 I had to look this up, this will help ease the pain as we take our first EV road trip soon and have to use DC fast charging to travel about 1,000 miles in two days. The nice part will be using the dryer plug in the garage at our Airbnb destination to top up at the end of each day. And we are getting about $1,900 (extra travel las...
by orcycle
Wed Jan 25, 2023 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Question of Chasing After Bank or Brokerage Bonuses
Replies: 45
Views: 3997

Re: Question of Chasing After Bank or Brokerage Bonuses

While I’ve gone after one large brokerage bonus, my favorite bank bonus gave me $300 to open a new account with a $500 minimum balance and had to be kept open for 180 days. I used that bonus to pay for snacks and meals while biking and at the end of the 180 days, I closed the account. Minimum fuss, maximum fun!

I may end up roundtripping from Fidelity to Vanguard and back again because I didn’t convert some mutual funds to ETFs before transferring to get the first brokerage bonus. But the paperwork to do this would be maximum fuss.
by orcycle
Sun Jan 08, 2023 10:47 am
Forum: Personal Consumer Issues
Topic: Can I buy a 80-100k car?
Replies: 171
Views: 12191

Re: Can I buy a 80-100k car?

You can buy it (or lease?) and if you aren’t thrilled with it, sell it at a loss and learn a relatively inexpensive lesson. Or love it and keep asking yourself if you can afford the next one.

(I bought a quick/fast EV and I love driving it but I know it doesn’t make sense to keep it. I can afford it but it’s still not a great idea. I’m older, though, with adult kids.)
by orcycle
Sat Dec 31, 2022 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance: How Much?
Replies: 82
Views: 9607

Re: Umbrella Insurance: How Much?

Insurance is risk pooling. If you have no insurance you carry all the risk. As you add more insurance the risk shifts more to the insurer. How much risk do you want to carry and how much do you want to offload (but not entirely) to the insurer? There is also the risk that the victim will not be sufficiently compensated. I think that the emphasis on “what level of assets are you protecting” assumes that the suit isn’t just and fair; I’m not disputing that many lawsuits are money grabs, but that doesn’t mean that they all are. So, counter intuitively to the prevailing wisdom, I think you should have higher levels of umbrella when your assets are low but your likelihood of injuring someone (teenage drivers, large dogs, etc) are higher. When y...
by orcycle
Thu Sep 22, 2022 8:35 am
Forum: Personal Finance (Not Investing)
Topic: What would it take for you to switch H&A insurance carriers?
Replies: 14
Views: 866

Re: What would it take for you to switch H&A insurance carriers?

I’m in the process of switching now, after I added a new car and decided to comparison shop after hearing what the jump in premiums would be. We had MetLife for years, it got bought by Farmers, and I knew I was paying more than I should but inertia kept me there. Plus I felt I got good service. But when I asked about any kids in college discount or exclusions from certain cars, I wasn’t happy with the responses so I shopped around (called Costco and an independent agent who came up with Safeco, actually). I am switching all my major policies: home; auto; umbrella; rental property; boat. For the first three, I will cut my cost almost in half! I could possibly save more by chopping up my policies but decided to keep all of them with Safeco to...
by orcycle
Mon Sep 05, 2022 12:29 pm
Forum: Personal Consumer Issues
Topic: Hybrid SUVs
Replies: 35
Views: 5047

Re: Hybrid SUVs

If you can find one, it sounds like a RAV4 Prime would fit your driving habits well (as long as you can plug it in overnight). We have one and love driving on battery only for in-town errands and no range anxiety when taking it on road trips. I do hear the engine whine a little going uphill, but otherwise it has plenty of power for us. I haven't driven it on snow but it came with stock Yokohama tires that probably aren't great but could be improved cheaply (but I did drive it in thick, soft sand on the coast it handled it fine). We paid around $50,000 for it, and should net closer to $40,000 after state EV rebate and federal tax credit (bought this year).
by orcycle
Fri Aug 19, 2022 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Inflation Reduction Act - Clean Energy tax credit for home purchases
Replies: 82
Views: 12072

Re: Inflation Reduction Act - Clean Energy tax credit for home purchases

I recently typed in my address at https://sunroof.withgoogle.com/, and it said it’s not worth installing solar. Is that a good resource, or are there other websites that factor in the new law and might have different results?

I also installed a home EV charger earlier this year, so I’m glad to see that credit has been extended.
by orcycle
Fri Jul 22, 2022 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Converting UTMA Account to 529 Plan Account
Replies: 8
Views: 683

Re: Converting UTMA Account to 529 Plan Account

We recently went through converting UTMA 529 accounts to regular 529 accounts. Vanguard sent us letters stating that our children reached age 18 so they would shut down access to the accounts in 45 (?) days if we didn’t convert them to the children’s names. But they sent these letters about three months after our youngest reached 18, not at each child’s 18th birthday.

So if you need access to the money immediately, just be aware that Vanguard may lock down your account(s).
by orcycle
Sat Jul 16, 2022 7:24 pm
Forum: Investing - Theory, News & General
Topic: Fidelity 529 withdrawal options
Replies: 1
Views: 341

Fidelity 529 withdrawal options

I’ve been gradually moving accounts from Vanguard to Fidelity. Overall I have been happy with the move but I discovered recently that with Fidelity 529 accounts, I can't choose which portfolio(s) from which to withdraw; Fidelity withdraws pro rata from however many portfolios you have. This is for online withdrawals, I would have to call and specify which portfolios I want a particular withdrawal to come from. I have three 529 accounts that I transferred to Fidelity, and to have to call up to three times (depending on when I find out the college expenses of my three college kids) is not something I forward to doing each semester. Vanguard let me choose the amounts from each portfolio online, so I could split the accounts into growth and sta...
by orcycle
Mon Jul 04, 2022 7:17 pm
Forum: Personal Consumer Issues
Topic: 3rd row seating EVs in the US?
Replies: 33
Views: 3172

Re: 3rd row seating EVs in the US?

Ordered Mercedes EQB 300 2023 model. 7 seats, around 300 miles range, nice looking interior with build quality of Mercedes, being built in Germany. Expect to get it in October. Total price around 60k. I can’t see how that will be anywhere near 300 miles range? Battery is only 66.5kWh and it’s rated on the (even more generous than the EPA’s already generous) European cycle at ~250 miles. Not yet EPA rated but I’d expect closer to 225 miles - which means ~175 or less in many real-world situations. https://topelectricsuv.com/news/mercedes-benz/mercedes-eqb-new-details/ I was intrigued and wanted to learn more about this model. The third row is pretty small, like a Model X/Y (7-seat, not 6). That link also says it will be built in Hungary (saw...
by orcycle
Mon Jul 04, 2022 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Young couple looking to buy 2nd home on the same street and rent to our parents
Replies: 39
Views: 5420

Re: Young couple looking to buy 2nd home on the same street and rent to our parents

...... Our thought is that if we pay cash (likely $425K - $450K) and then take out a loan to cover renovation ($100K to $150K) ...... Current home: * Purchase price: $597K * Remaining on the mortgage: $417K ..... If there are some sort of cultural expectations that you will provide a place for your parents to stay now and maybe when they are older then a much easier and less expensive solution would be be to move to a larger house that has a good guest room or in-law suit. I would guess that might cost you something like $100K more than than your current house but it would be less than buying a second house. In some situations it might also be possible to add an additional bedroom and bath to your current home. We thought the same thing an...
by orcycle
Mon Jul 04, 2022 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Young couple looking to buy 2nd home on the same street and rent to our parents
Replies: 39
Views: 5420

Re: Young couple looking to buy 2nd home on the same street and rent to our parents

We have a rental property very close to our house that was rented to an older couple. We bought it out of foreclosure in good condition and for a good price after the 2008 crash, we paid cash. When the renters told us they were moving, we talked to my parents and offered them the house when they come to visit. They loved the idea of being close but not in the same house as us, but they insisted on paying rent. So I drew up a very basic rental agreement and operated under that lease for a few years. After a while, I didn’t feel good about it so we stopped charging them rent and just keep it as an investment property that they get to use for free. One thing I didn’t foresee with this change was the inability to sell it via a 1031 exchange wit...
by orcycle
Mon Jul 04, 2022 4:13 pm
Forum: Personal Consumer Issues
Topic: 3rd row seating EVs in the US?
Replies: 33
Views: 3172

Re: 3rd row seating EVs in the US?

I wish Toyota would make the Sienna a Prime (plug-in hybrid), I think that’s a perfect mix for in-town driving (battery only) and road trips using hybrid power. We have a RAV4 Prime and it’s a great car (45 battery miles in the city) but I would rather it be fully electric and keep a PHEV for longer trips.

We have a 2013 Honda Odyssey that I’m holding onto until the Sienna Prime or something similar comes out. I cancelled my orders for a Rivian R1S and Canoo (lost faith in the companies), but I still have deposits on a Tesla Model Y, the Fisker Ocean and Ford F-150 Lightning (for fun).

I hope the supply chain issues clear up and new models are available sooner, it’s an exciting time for EV cars.
by orcycle
Mon Jul 04, 2022 12:07 am
Forum: Investing - Theory, News & General
Topic: Best broker for RMD management
Replies: 24
Views: 3357

Re: Best broker for RMD management

We have an inherited IRA at Vanguard and it’s mildly annoying that VG won’t combine the total RMD and instead lists separate RMD amounts for the mutual funds and the brokerage. We have a MF bond fund that we take RMDs from and not from the brokerage, but it still shows an amount to remove from the brokerage. Not a big deal but not a clean look. May eventually transfer this to Fidelity to unify all our accounts. Are you saying your Inherited IRA consists of both a legacy platform mutual fund account and a modern platform brokerage account in the Inherited IRA? There's an easy way to fix that, which is move off the legacy platform and put your mutual funds into the modern platform brokerage account. But I may not be understanding the situati...
by orcycle
Sat Jul 02, 2022 2:59 pm
Forum: Investing - Theory, News & General
Topic: Best broker for RMD management
Replies: 24
Views: 3357

Re: Best broker for RMD management

We have an inherited IRA at Vanguard and it’s mildly annoying that VG won’t combine the total RMD and instead lists separate RMD amounts for the mutual funds and the brokerage. We have a MF bond fund that we take RMDs from and not from the brokerage, but it still shows an amount to remove from the brokerage. Not a big deal but not a clean look. May eventually transfer this to Fidelity to unify all our accounts.
by orcycle
Fri Jul 01, 2022 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: 1st withdrawal from 529
Replies: 51
Views: 5178

Re: 1st withdrawal from 529

Also do not over look the AOTC, if you qualify (income limits) you can get a direct tax credit of $2,500 per year. You need spend $4,000 in funds that are not from the 529 on tuition and books (room & board doesn't count). https://www.irs.gov/credits-deductions/individuals/aotc I planned this into my college funds for my kids for 4 years each... Does timing of payments matter on this if funds coming from 529 exceed the amount of tuition? For example, let’s say all costs for fall semester are $25,000, which is a mix of tuition ($20,000) and room and board ($5,000). Does the $4,000 have to be paid first to count entirely toward tuition before the $21,000 payment? I can’t imagine the IRS would scrutinize this closely but thought I would a...
by orcycle
Fri Jul 01, 2022 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: 1st withdrawal from 529
Replies: 51
Views: 5178

Re: 1st withdrawal from 529

Also do not over look the AOTC, if you qualify (income limits) you can get a direct tax credit of $2,500 per year. You need spend $4,000 in funds that are not from the 529 on tuition and books (room & board doesn't count). https://www.irs.gov/credits-deductions/individuals/aotc I planned this into my college funds for my kids for 4 years each... Does timing of payments matter on this if funds coming from 529 exceed the amount of tuition? For example, let’s say all costs for fall semester are $25,000, which is a mix of tuition ($20,000) and room and board ($5,000). Does the $4,000 have to be paid first to count entirely toward tuition before the $21,000 payment? I can’t imagine the IRS would scrutinize this closely but thought I would a...
by orcycle
Sat Jun 18, 2022 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Question: Uninsured / Chubb
Replies: 10
Views: 1556

Re: Umbrella Question: Uninsured / Chubb

I didn’t realize my umbrella ($2M) increased my UIM coverage by $1M until I was hit by an uninsured motorist while cycling. I incurred pretty serious injuries (this was in early 2019) and we finally settled with my insurance for the full coverage amount in April of this year. So it took over three years to receive my ‘benefits’ under my insurance coverage, and only after I hired an attorney to file a claim for me (and take 1/3, etc.). A small claim for UIM might result in a quick resolution but not for a serious claim. It bothered me (still does?) that I paid for years of umbrella/UIM coverage only to have to hire an attorney, and split my recovery, to get my benefits, but I guess that’s the nature of insurance. Something to keep in mind. (...
by orcycle
Thu Jun 16, 2022 6:43 pm
Forum: Personal Consumer Issues
Topic: what is your experience of using Opendoor for buying or selling your home?
Replies: 34
Views: 6800

Re: what is your experience of using Opendoor for buying or selling your home?

I sold a rental property to Opendoor in 2019. They were upfront about everything, no last-minute surprises, it all went very smoothly. Their fees are high but their original offer seemed to be above-market at the time, so I am pretty happy with the outcome.

I used to update their offers on another rental property but recently their website said they couldn’t make an offer (after several declines in offer prices), but I would probably go with a traditional realtor this time.
by orcycle
Tue Jun 07, 2022 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Land is mine on both sides of fence
Replies: 43
Views: 6027

Re: Land is mine on both sides of fence

When I moved into my current house, my neighbor came to the fence and introduced herself. We exchanged pleasantries and pretty quickly, my neighbor informed me that the fence was not the property line but a couple feet towards my house. I acknowledged her position on it and later confirmed she was right. We are both attorneys and have been great friends and neighbors ever since. I hope you have an equally reasonable neighbor.
by orcycle
Fri May 27, 2022 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Best ideas for offsetting long term capital gains on taxes
Replies: 10
Views: 1117

Re: Best ideas for offsetting long term capital gains on taxes

If you’re already considering real estate, check out Opportunity Zones. You defer your current cap gains to 2026 and if you hold for at least 10 years, you exit without paying cap gains, even after depreciation.

I found this website to be helpful to learn the basics: opportunitydb.com. Some of the benefits for your current gains have expired but it might suit what you want to do.
by orcycle
Thu May 26, 2022 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: 529 rollover rules and UGMA/UTMA accounts
Replies: 0
Views: 248

529 rollover rules and UGMA/UTMA accounts

Years ago we converted our kids' UGMA/UTMA accounts to 529 accounts. As they were all under 18 (age of majority in our state), the new 529 accounts were custodial 529 accounts, so we were the custodians and they were the beneficiaries. Our youngest child turned 18 earlier this year. A month or two later (and more than two years after our oldest turned 18), Vanguard sent us letters saying the 529 accounts needed to be transferred to our children as account owners, and they would freeze the accounts in 45 days. I had previously transferred other Vanguard accounts to Fidelity for various reasons, so I wanted to do the same for these accounts. It turns out we can't, so we had to first transfer them to new Vanguard accounts in our children's nam...
by orcycle
Thu May 26, 2022 12:57 pm
Forum: Personal Consumer Issues
Topic: Volvo XC40 Recharge vs. Plug-in hybrid alternatives
Replies: 35
Views: 2864

Re: Volvo XC40 Recharge vs. Plug-in hybrid alternatives

My wife and I test drove the XC40 Recharge (twice for me), we opted not to get it, didn’t seem worth the price (felt cheap inside). We bought a RAV4 Prime in January but as someone else said, it’s a lot of plugging in to keep the electric range. I would prefer to go all-electric and have deposits on several cars (Fisker Ocean, Tesla Model Y, F150 Lightning). My wife’s main requirement is safety and visibility, so the higher seat position and AWD is good in both the RAV4 and XC40, and the acceleration on the Volvo is terrific! We also have an Odyssey that is a good people mover and road tripper, but I try to drive it as little as possible. Our third car is a Kia Soul EV that the kids drive, range is only 60-80 miles but great for teenagers d...
by orcycle
Wed May 25, 2022 4:17 pm
Forum: Personal Investments
Topic: Now I am reluctant to invest in my son's 529 - College needs the $ this fall.
Replies: 28
Views: 3435

Re: Now I am reluctant to invest in my son's 529 - College needs the $ this fall.

Are you paying at least $4,000/year for tuition to take advantage of the American Opportunity Tax Credit (AOTC) which will give you a $2,500/year Federal tax credit if your MAGI is under $160,000 if married filing jointly? You can’t take advantage of the AOTC if 529 funds are used to pay for tuition & required expenses. You can only use the AOTC for the first 4 years of undergraduate education. AOTC is reduced if your MAGI is between $160,000-$180,000 for 2022. You don’t mention your MAGI or if you are taking advantage of AOTC but I thought I would mention it. This is one reason not to have all your college funding in the “529 basket”. bill My understanding of AOTC is that as long as I pay $4,000 out of my personal account (i.e. not a ...
by orcycle
Thu May 19, 2022 4:33 pm
Forum: Personal Consumer Issues
Topic: Mid-range road bike suggestions
Replies: 28
Views: 2245

Re: Mid-range road bike suggestions

My Canyon Endurace served as my all-purpose bike for a few years, able to road ride vigorously and also manage most gravel riding especially once I went tubeless. Then I bought a dedicated gravel bike (and extra sets of wheels for both!). :-)

You might also consider an ebike for the towing (I bought a fairly cheap one and it’s great for running errands and not sweating), and either keep your current bike or get a nicer one with disc brakes, etc.
by orcycle
Fri May 13, 2022 10:47 pm
Forum: Personal Consumer Issues
Topic: Car Buying- In Transit Cars and Deposits
Replies: 10
Views: 2786

Re: Car Buying- In Transit Cars and Deposits

When I bought my RAV4 Prime recently, I went in to the dealership and signed something similar. It was my understanding that it wasn’t a binding contract (one clue was they didn’t give me a copy!), just that I was agreeing to the price, which included a markup. I don’t remember if I paid a deposit, if I did, it wasn’t more than a couple hundred dollars like you did. I also understood that I could reject the car when it arrived if I didn’t like it.

As others have said, I’m sure they would find another buyer if you backed out and I would imagine they would return your deposit if you’re nice about it.
by orcycle
Thu May 12, 2022 11:36 am
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22143

Re: anyone else tax loss harvesting like crazy?

KingRiggs wrote: Thu May 12, 2022 10:03 am Just pulled the trigger on Fido Total Market (FSKAX) to Fidelity S&P 500 (FXAIX).

Locked in over a dozen years of reducing my taxable income. Doesn't feel great, but it gives me some quantum of solace on the ride down... :?
Isn’t Quantum of Solace a BOND movie? :happy
by orcycle
Thu May 12, 2022 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 520990

Re: Tales from this insane real estate market

snackdog wrote: Thu May 12, 2022 9:55 am The value of our treasured vacation home tripled, so we thought it was better to sell. $1200/sq ft in the middle of nowhere makes no sense at all. In escrow now with an all cash As-as contract. We can use the proceeds to vacation there or anywhere we like the rest of our lives. No more trips to the hardware store on vacation!
How long did it take to triple in value? We bought a vacation property three years ago and it’s apparently doubled in value (Zillow) but not inclined to sell. Congrats on getting such a good return on your investment, and relief from home repairs!
by orcycle
Wed May 11, 2022 3:49 pm
Forum: Investing - Theory, News & General
Topic: Anyone else at Fidelity Being Prodded into a Separately Managed Account
Replies: 143
Views: 14628

Re: Anyone else at Fidelity Being Prodded into a Separately Managed Account

I just met with our Fidelity rep today and he did push their Direct Indexing program. He said it costs 0.4%, should track the S&P and help with taxes (net of fees). He didn’t push too hard on it, we spoke more on bond duration and other topics but clearly I was called in for the Direct Index pitch.

I got value out of the meeting, my concern is how painful is it to exit a Direct Index program if I need the money or just want out, I didn’t get a clear answer on that but an email should be forthcoming. If he pushes too hard or too often to chat, then I’ll politely demur.
by orcycle
Sun May 08, 2022 5:42 pm
Forum: Personal Consumer Issues
Topic: upgrade 2003 camry to prius prime/bz4x
Replies: 37
Views: 3650

Re: upgrade 2003 camry to prius prime/bz4x

If you like the BZ4x, look at the Subaru Solterra. It’s basically the same car and isn’t close to running out of its federal tax credit.
by orcycle
Sun May 08, 2022 4:56 pm
Forum: Personal Consumer Issues
Topic: Anyone buy a car with high mark up and have no regrets?
Replies: 81
Views: 9160

Re: Anyone buy a car with high mark up and have no regrets?

Purchased a RAV4 Prime for $5k over MSRP. It is a great car for us, and we are loving it. No regrets (yet). With inflation and supply chain issues, I am not sure I could get this vehicle for less than what I paid for even if I waited 6 more months. We bought a Prime in January, 2022, paid about $4,500 over MSRP (dealer threw in some extras, most of them worthless but the paint protection was worth something). I had my name on two dealer waitlists for about a month, I could have gotten one without a markup sooner but the spouse wanted a particular color. With the federal tax credit of $7,500 and our state’s rebate ($2,500), I think it was worth it. I traded in an SUV that the RAV4 Prime replaced and got an inflated price for it, so that hel...
by orcycle
Thu May 05, 2022 11:26 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4683254

Re: U.S. stocks in free fall

rockstar wrote: Thu May 05, 2022 11:21 am
orcycle wrote: Thu May 05, 2022 11:20 am
lostdog wrote: Thu May 05, 2022 11:13 am Anyone reconsidering bond funds as a ballast in the future?
Yes but I'm struggling to find any sort of ballast that remains invested in the market and doesn't require a lot of work managing it. Today I exchanged a big chunk of TBM to a short term bond fund, basically. I'm still reading the threads on viable alternatives and scratching my head a lot.
Buffett figured this out a long time ago. He sticks with bonds that mature within a year regardless of their yield.
I'm sure it's working for him. I cut my average duration in half with my exchange, but still exposed to three years of interest rate risk. :?
by orcycle
Thu May 05, 2022 11:20 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4683254

Re: U.S. stocks in free fall

lostdog wrote: Thu May 05, 2022 11:13 am Anyone reconsidering bond funds as a ballast in the future?
Yes but I'm struggling to find any sort of ballast that remains invested in the market and doesn't require a lot of work managing it. Today I exchanged a big chunk of TBM to a short term bond fund, basically. I'm still reading the threads on viable alternatives and scratching my head a lot.
by orcycle
Thu May 05, 2022 10:43 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4683254

Re: U.S. stocks in free fall

Yarlonkol12 wrote: Thu May 05, 2022 10:35 am Well things could always be worse, I'm thankful I wasn't invested into something speculative like ARKK or Total Bond Market Index Fund
Ha! (An entertaining post, indeed.)