Search found 445 matches

by 8foot7
Sun Jun 25, 2017 8:33 am
Forum: Personal Finance (Not Investing)
Topic: "Disruptive" life insurance
Replies: 8
Views: 1143

Re: "Disruptive" life insurance

This is just one of those things you should just go ahead and do, get it done, pay it every year and forget about it.
by 8foot7
Wed Jun 21, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy an $800k house?
Replies: 89
Views: 6008

Re: Should I buy an $800k house?

Hikes_With_Dogs wrote:Red flag in what way?



Is that a serious question?
by 8foot7
Tue Jun 20, 2017 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16233

Re: Siblings in disagreement over mom's house.

SeekingAPlan wrote:I suspect this mom would be disappointed that her children seem to be putting financial interest in money they did not earn ahead of the well being of their siblings.


Maybe mom should have left a little money for insurance and upkeep too if she wanted the house to bring siblings together.
by 8foot7
Tue Jun 20, 2017 2:13 pm
Forum: Personal Consumer Issues
Topic: House selling - timeline question
Replies: 23
Views: 1696

Re: House selling - timeline question

Over the years I found that realtors really don't know anything more then I do. When we bought or sold houses, including houses for relatives, they didn't bring anything to the table. +1. Remove weird ostentatious paint colors, touch up, and declutter everywhere, and deal with the rest as part of t...
by 8foot7
Tue Jun 20, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy an $800k house?
Replies: 89
Views: 6008

Re: Should I buy an $800k house?

Our realtor mentioned that he is seeing people waive all contingencies (appraisal, financing, inspection), put earnest money of 5-10% of the sale price, and put some of it as "guaranteed" -- e.g. they get 2% of the sale price within 2 days of accepting the offer and receive that money whe...
by 8foot7
Tue Jun 20, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16233

Re: Siblings in disagreement over mom's house.

LAR wrote:Why can't the executor just say majority rules and place the home up for sale and distribute the proceeds once the house is sold?


Pretty sure the estate has been closed, but even so, I don't think the executor could do this if the will expressly directs the house be left to the five individuals.
by 8foot7
Tue Jun 20, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16233

Re: Siblings in disagreement over mom's house.

I still think the best option in this situation is to simply stop paying the taxes and let the municipality sell the home out from under all 5 of you. Does non payment of taxes adversely affect ones credit rating? Also, going this route could take a lot of time, I think, while you still have liabil...
by 8foot7
Tue Jun 20, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Tripped on this this morning - pros and cons? [HELOC as emergency fund]
Replies: 22
Views: 3334

Re: Tripped on this this morning - pros and cons? [HELOC as emergency fund]

Consider a "defense in depth" approach. The HELOC could be a great tool, but behind it you should have some cash. Also, if you use the HELOC as a first line of defense, when you see things start going south, I'd recommend drawing on it and putting the advance in a CD or something and consi...
by 8foot7
Tue Jun 20, 2017 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1970

Re: Auto Loan vs Mortgage

Would you go take a loan out on a car (or a home) to put money in the bank for emergencies? I wouldn't. If I were going to buy a car anyway and had the cash to do so, and if they offered me a rate under one percent to finance the car, then sure, I'd leave the money in the bank and use the note. And...
by 8foot7
Mon Jun 19, 2017 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 16233

Re: Siblings in disagreement over mom's house.

I still think the best option in this situation is to simply stop paying the taxes and let the municipality sell the home out from under all 5 of you. Sure, the sale price is not maximized but isn't it better than spending tons of money to sue the pants off your family?
by 8foot7
Mon Jun 19, 2017 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating a House Using Seller's Agent (opinions wanted)
Replies: 75
Views: 2791

Re: Negotiating a House Using Seller's Agent (opinions wanted)

There are two factors in the real estate market: price and time to sell. Price is self explanatory. Time to sell, or cumulative days on market, is an important factor. One must understand the average and median days on market for a neighborhood or community, whether one is a buyer or seller, in orde...
by 8foot7
Mon Jun 19, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating a House Using Seller's Agent (opinions wanted)
Replies: 75
Views: 2791

Re: Negotiating a House Using Seller's Agent (opinions wanted)

Using here-say through a mutual friend and then drawing conclusions on what the seller wants (to sell directly to you) isn't doing you any good. Of course any seller would rather sell direct once an agent find him a buyer - but so what? That's usually illegal and certainly always immoral. The agent...
by 8foot7
Mon Jun 19, 2017 3:32 pm
Forum: Personal Consumer Issues
Topic: Lg refrigerator vs Samsung refrigerator.
Replies: 19
Views: 1519

Re: Lg refrigerator vs Samsung refrigerator.

3.5 years in on a Samsung refrigerator that cost >$3,000 and it's working just fine, no problems whatsoever.
by 8foot7
Mon Jun 19, 2017 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1970

Re: Auto Loan vs Mortgage

get rid of the PMI like right now.
by 8foot7
Sun Jun 04, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Amex [Platinum card fee increasing to $550]
Replies: 9
Views: 1615

Re: Amex

I've been an Amex Card holder since 1986 and a Platinum member for probably the last 10 or so. I just received notification that the annual fee is increasing to $550. I travel often and appreciate the flexibility of the airline lounges and the overall service from Amex; however, the price is becomi...
by 8foot7
Sat Jun 03, 2017 9:46 am
Forum: Personal Consumer Issues
Topic: Wire fee charged by receiving bank.
Replies: 28
Views: 2559

Re: Wire fee charged by receiving bank.

Further thoughts. If someone mistakenly deposits a check in my account I don't get to keep $45 of it and then send the rest back. I fail to see how this is much different. These funds weren't BofA's and I don't see how they are permitted to just dip into them at will.
by 8foot7
Sat Jun 03, 2017 9:45 am
Forum: Personal Consumer Issues
Topic: Wire fee charged by receiving bank.
Replies: 28
Views: 2559

Re: Wire fee charged by receiving bank.

I think you are due the amount that was subtracted. They didn't perform any service for you and you have no agreement with them. I am pretty sure though that the hassle factor trying to pursue recovery will cost more of your time than the $45 or whatever. But sometimes one chooses to make a point an...
by 8foot7
Tue May 30, 2017 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Condo Assoc seeking thoughts
Replies: 24
Views: 2238

Re: Condo Assoc seeking thoughts

Making current owners pay for repairs down the road (2037) doesn't seem fair to me. What if some of them don't plan on staying there that long? My HOA has a reserve of 1 year of operating expenses but we only maintain the common-area landscape and the neighborhood perimeter wall. I'd be interested ...
by 8foot7
Tue May 30, 2017 3:11 pm
Forum: Personal Consumer Issues
Topic: Rental cars and Lose of Use insurance
Replies: 14
Views: 978

Re: Rental cars and Lose of Use insurance

Wow! I did!!! I checked and the credit card I used does cover Lose of Use. I called and they are secondary to my primary insurance. don't celebrate yet......... http://www.creditcards.com/credit-card-news/car-rental-insurance-coverage-1273.php . According to link, cc co. says it covers it. You get ...
by 8foot7
Fri May 26, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Risky to ask for raise with another offer?
Replies: 28
Views: 2326

Re: Risky to ask for raise with another offer?

I think that HR term has a double entendre.
by 8foot7
Fri May 26, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Risky to ask for raise with another offer?
Replies: 28
Views: 2326

Re: Risky to ask for raise with another offer?

I think you can only successfully pull this off once per company. And please, be sure you're willing to leave if you frame it in an ultimatum sort of way. I have done this once and had it done to me once and it worked in the employee's favor both times, but I can tell you that the relationship did n...
by 8foot7
Fri May 26, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: New car doc fees
Replies: 42
Views: 2807

Re: New car doc fees

This is why when negotiating with salespeople the only number that matters is the "out the door" price. Whether they call it a fee or profit is largely irrelevant to you as the buyer. No need to waste time arguing if it's mandated by the state or not. The OTD price unambiguously includes ...
by 8foot7
Thu May 25, 2017 11:58 am
Forum: Investing - Help with Personal Investments
Topic: What to do with divorce settlement
Replies: 23
Views: 3174

Re: What to do with divorce settlement

There is a time to focus on details like expense ratios etc but there is imo a much bigger, more significant question here: on her income, can she afford to be in the house she's in? As I asked, when does the alimony stop? What's her income look like in three years? What does it look like at 65? Wil...
by 8foot7
Thu May 25, 2017 11:48 am
Forum: Investing - Help with Personal Investments
Topic: How to Invest Church Money
Replies: 54
Views: 4003

Re: How to Invest Church Money

If your church has employees, it should have a reserve. Failing to meet payroll is not less horrible because it's a church. So you should absolutely have money tucked away--three to six months' worth of core operating expenses would be good. Investing for a building is also good. But there is some b...
by 8foot7
Thu May 25, 2017 10:11 am
Forum: Personal Consumer Issues
Topic: Should I drink or sell my Pappy 12 year?
Replies: 65
Views: 6979

Re: Should I drink or sell my Pappy 12 year?

If you don't know whether you should drink it or sell it, you should sell it.
by 8foot7
Thu May 25, 2017 8:07 am
Forum: Investing - Help with Personal Investments
Topic: What to do with divorce settlement
Replies: 23
Views: 3174

Re: What to do with divorce settlement

How long will the 3300 in alimony last?
by 8foot7
Sat May 20, 2017 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 115
Views: 13572

Re: Dealership rejecting rebate after contract signed

You will have to return the car. The dealership can simply assign a contract that otherwise meets criteria like FICO, stated income etc to TFS without TFS separately approving the application. This is why you have the car now and TFS has no record of your lease. You were given a spot delivery and th...
by 8foot7
Thu May 18, 2017 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Child's Debt Consolidation
Replies: 14
Views: 2057

Re: Child's Debt Consolidation

What is the reasoning for not taking the new 0% card and then paying 7000 in equal payments over 15 months from the emergency fund? Then she's not depleting her entire cash reserve at one time but absent an emergency she is able to pay off the 7k with no additional interest charges. Then she can reb...
by 8foot7
Thu May 18, 2017 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Challenging a Late Medical Bill
Replies: 22
Views: 1590

Re: Challenging a Late Medical Bill

Typically the statute of limitation is three years for debts. Some states like Hawaii are longer. It doesn't de-legitimize the original debt, but as Gill says, it is grounds for automatic dismissal of any lawsuit brought to force payment. Creditors can still report to credit bureaus (at least until...
by 8foot7
Thu May 18, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Challenging a Late Medical Bill
Replies: 22
Views: 1590

Re: Challenging a Late Medical Bill

Typically the statute of limitation is three years for debts. Some states like Hawaii are longer. It doesn't de-legitimize the original debt, but as Gill says, it is grounds for automatic dismissal of any lawsuit brought to force payment. Creditors can still report to credit bureaus (at least until...
by 8foot7
Thu May 18, 2017 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Challenging a Late Medical Bill
Replies: 22
Views: 1590

Re: Challenging a Late Medical Bill

Unless someone can cite a reference, contrary to common belief, I do not believe there is a statute of limitations on paying or being obligated to pay a legitimate obligation in the past. These kinds of things are very annoying, to say the least. Going back two years and having changed insurance, i...
by 8foot7
Tue May 16, 2017 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Challenging a Late Medical Bill
Replies: 22
Views: 1590

Re: Challenging a Late Medical Bill

Our insurance policy has a six month limit on charges--they refuse to pay charges presented more than six months after service and as part of their contract with hospitals etc they hold the consumer harmless for bills not timely presented. We actually just went through this for our second son--hospi...
by 8foot7
Sat May 13, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: recent widow needs help with life insurance payout options
Replies: 44
Views: 3084

Re: recent widow needs help with life insurance payout options

Take the cash, put it into a 12 month CD and worry about it later.
by 8foot7
Sat May 13, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating job responsibilities
Replies: 15
Views: 1237

Re: Negotiating job responsibilities

I hate it when I interview for things and my excellence just oozes out involuntarily. My apologies if you found my note offensive 8foot7. I have replaced some business jargon in my original post to plainer english - in the hope that it expresses the actual situation a bit better. Not offended and I...
by 8foot7
Sat May 13, 2017 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Negotiating job responsibilities
Replies: 15
Views: 1237

Re: Negotiating job responsibilities

[*] I have tried to hide the fact that I excel at operations and have tried to steer interviews and conversations with this employer towards aspects of my career that have focused on strategy. However my fear is that they have discovered this (operational excellence) aspect of my background during ...
by 8foot7
Thu May 11, 2017 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: House Deed Covenant Enforceability
Replies: 43
Views: 3360

Re: House Deed Covenant Enforceability

it appears the best route would be to place a 10 year mortgage on the home and pay off all the high interest credit cards. No. Don't even think about this one second longer. Use the Dave Ramsey snowball effect on paying off credit cards. https://www.daveramsey.com/blog/get-out-of-debt-with-the-debt...
by 8foot7
Thu May 11, 2017 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: House Deed Covenant Enforceability
Replies: 43
Views: 3360

Re: House Deed Covenant Enforceability

There are professional nonprofits who do debt counseling. It might be a good idea for your parents to schedule an appointment with one of them to review options. (And as other suggested maybe a bankruptcy lawyer as well). Absolutely terrible advice. Debhttp://www.consumerreports.org/cro/news/2013/0...
by 8foot7
Thu May 11, 2017 9:15 am
Forum: Investing - Help with Personal Investments
Topic: Managing small inheritance
Replies: 26
Views: 1723

Re: Managing small inheritance

I have no idea what this court custodian thing is all about. The money should just come to the kids in the kids' name and the parent can set up a bank account under UTMA/UGMA at any bank. This is not complex and no judge is required.
by 8foot7
Mon May 08, 2017 8:57 am
Forum: Personal Consumer Issues
Topic: HOA & renting rules
Replies: 27
Views: 2424

Re: HOA & renting rules

People can call anything by any name they choose, but the difference between "sharing a house" and renting an apartment is that when you share a house you share the kitchen. When you rent an apartment, you have your own kitchen. That's why there's no real oven/range. This is a zoning/heal...
by 8foot7
Tue May 02, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: How quick is too quick for a job offer?
Replies: 29
Views: 3397

Re: How quick is too quick for a job offer?

Some folks here are being quite conservative. I'd be eager to join a firm who could manage to do three interviews and then hire quickly. Sometimes these processes can take so long and I think sometimes they do so because they do so and not for any good reason.
by 8foot7
Tue May 02, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: how to repair horrible credit?
Replies: 14
Views: 1337

Re: how to repair horrible credit?

If she doesn't want to bring the accounts current then more likely than not she is going to have to wait out the seven years it takes from date of first delinquency until the bad marks fall off the credit report. it may be possible to begin building positive credit sooner than that but the only guar...
by 8foot7
Tue May 02, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Can you change a 1099 issued to a person to a 1099 for the S Corp?
Replies: 4
Views: 315

Re: Can you change a 1099 issued to a person to a 1099 for the S Corp?

If they won't change it then enter the individual 1099 on schedule C and put in an attendant expense of the same amount with comments that the income should have been paid to your s corp and it is included within income there on your tax return. I have done this with avenged book royalties for 15 ye...
by 8foot7
Mon May 01, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: calculating work related mileage as an employee
Replies: 10
Views: 1216

Re: calculating work related mileage as an employee

technically, its only the delta increase that is reimburseable. If your normal commute home is 10 miles, but your side trip to the bank and Post Office on the way home meant that you drove 12 total miles to get home, then 2 miles is reimbursable. Not to pile on but this is indeed completely inaccur...
by 8foot7
Fri Apr 28, 2017 11:52 am
Forum: Personal Consumer Issues
Topic: When does it make sense to stop paying to repair your old vehicle?
Replies: 56
Views: 4063

Re: When does it make sense to stop paying to repair your old vehicle?

I didn't see anyone hone in on insurance costs. Insurance on a newer vehicle can be significant, even with low miles driven. I'd also ask what you would do with the extra money you might save by driving an older vehicle....if the answer is that you have more to save/invest, then you're making even ...
by 8foot7
Fri Apr 28, 2017 11:50 am
Forum: Personal Consumer Issues
Topic: When does it make sense to stop paying to repair your old vehicle?
Replies: 56
Views: 4063

Re: When does it make sense to stop paying to repair your old vehicle?

onourway wrote:Agreed that the current value of the vehicle plays no role in determining whether it makes sense to do a given repair


I submit it is nonsensical to put a $4,000 repair into a $2,000 car
by 8foot7
Thu Apr 27, 2017 7:35 am
Forum: Personal Consumer Issues
Topic: When does it make sense to stop paying to repair your old vehicle?
Replies: 56
Views: 4063

Re: When does it make sense to stop paying to repair your old vehicle?

Drive it until a repair necessary for the vehicle to move from point A to point B exceeds 75% of the vehicle's overall post-repair value. I do not include A/C, heat (unless you need it in northern climate for engine to start/function), paint, cosmetic body work, etc. I mean starter, transmission, en...
by 8foot7
Thu Apr 27, 2017 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Moving to CA for 2 yrs, lease or buy used car?
Replies: 13
Views: 931

Re: Moving to CA for 2 yrs, lease or buy used car?

A 2 year lease is probably not going to give you very many miles to do road trips all over the west. I think the rate for overages is 25 cents per mile or something absurd like that.
by 8foot7
Thu Apr 27, 2017 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Best strategy for retaining tenants?
Replies: 30
Views: 2055

Re: Best strategy for retaining tenants?

Here's what I would do. Present three options: * month to month, which as everyone has said is probably the default, at market rate rent +1% * one year lease with a $50/month increase * 18 month or 2 year lease with no rent increase. One month of vacancy steals a significant amount of any increase i...
by 8foot7
Tue Apr 25, 2017 1:32 pm
Forum: Personal Consumer Issues
Topic: co-worker had a baby, chipping in on gift- how much?
Replies: 57
Views: 3463

Re: co-worker had a baby chipping in on gift- how much?

I have a personal peeve against soliciting money for a second child. I say that as a parent of two who actively turned down gifts for our second from all but our closest family. For a first child I'd throw in a $20 and wish them good tidings etc. for a second child no way.

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