Search found 89 matches

by IMO
Sat Jul 15, 2017 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Have house and want to buy another. How does this work?
Replies: 9
Views: 1204

Re: Have house and want to buy another. How does this work?

While I never have bought a second home, I'm not sure that any certifying that you personally intend to occupy the home is necessary. I have bought first homes and never had to certify that I will occupy the home within a giving length of time. And I am not sure that the underwriting will care abou...
by IMO
Sat Jul 15, 2017 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Have house and want to buy another. How does this work?
Replies: 9
Views: 1204

Re: Have house and want to buy another. How does this work?

Your question is a bit odd, you are apparently going to live approximately 50/50 in 2 homes very close to each other? But you are also want to make the 1st home a rental property that you are also going to live in approximately 50% of the time (so you are not planning on selling home #1)? Ignoring t...
by IMO
Sat Jul 15, 2017 1:33 pm
Forum: Personal Consumer Issues
Topic: Homeowners insurance that covers Vacation rentals
Replies: 2
Views: 297

Re: Homeowners insurance that covers Vacation rentals

I looked into this recently as was considering doing a VRBO. Below is the basic email/copy & pasted that I received. I did not include my actual quoted policy. I removed the sales agents information as I believe that varies by region. What is interesting that I did not think much about was thing...
by IMO
Tue Jun 20, 2017 12:27 am
Forum: Personal Consumer Issues
Topic: is luxury car a smarter purchase?
Replies: 102
Views: 6830

Re: is luxury car a smarter purchase?

Always seems there is this thought that German cars are felt superior to other cars. I've done the luxary German Porsche purchase (1988 928 S4 bought 1995 with 50,000 miles, $20K for a car costing over $50K in 1988 which was a lot for a car at that time). Drove it off the lot and literally the water...
by IMO
Thu Jun 15, 2017 1:19 pm
Forum: Personal Consumer Issues
Topic: Cataracts & reading glasses
Replies: 31
Views: 2275

Re: Cataracts & reading glasses

My wife (68) has cataracts & needs surgery so she can read w/o glasses. My feeling is that even after this procedure, she very well may still need reading glasses. I'm not asking for a medical opinion, simply any anecdotal insights with family or friends that can help with her decision. Thanks ...
by IMO
Thu Jun 15, 2017 12:33 pm
Forum: Personal Consumer Issues
Topic: scary phone calls [phone scams]
Replies: 35
Views: 3402

Re: scary phone calls

We usually do not get phone calls or Emails which leave messages about account problems, except for the entertaining IRS scam. So there is something new in the works. We notice that many of those cold calls are now from our local area code and area, even with names, mostly on Fridays. Yes, we are a...
by IMO
Thu Jun 15, 2017 2:40 am
Forum: Personal Finance (Not Investing)
Topic: Buying cost vs renting (specifically for me)... can anyone fact check this?
Replies: 36
Views: 2178

Re: Buying cost vs renting (specifically for me)... can anyone fact check this?

I'd suggest you go through and verify all the specific numbers in your situation/tax bracket via mock tax returns (and check things like property tax rates, insurance rates. Do one as a renter and the other as a homeowner. I did not go through as such as verify them, but do your due diligence on the...
by IMO
Thu Jun 15, 2017 1:36 am
Forum: Personal Consumer Issues
Topic: Repair or replace dryer?
Replies: 19
Views: 1204

Re: Repair or replace dryer?

Most recent dryer problem occurred with the dryer being out of manufacture warranty, but after significant work/calls it was "covered" for a longer warranty due to purchase on a credit card. Repairman comes out, and orders the wrong part. More and more hassles getting the wrong part return...
by IMO
Thu Jun 15, 2017 1:18 am
Forum: Personal Consumer Issues
Topic: scary phone calls [phone scams]
Replies: 35
Views: 3402

Re: scary phone calls

They are likely 99.99% scams. Imagine now elderly people getting these phone calls. The "authorities" don't care, you're kidding yourself if you think they care. These are inconveniences that you simply need to protect yourself. These things are not effectively treated as crimes. My elderl...
by IMO
Wed Jun 14, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Genetic testing and insurance
Replies: 18
Views: 1759

Re: Genetic testing and insurance

An interesting topic and concern. Seems you could be held accountable if you knew medical health information but withheld that on one's application. We may have been paranoid without justification when a major insurer required that my spouse have her blood collected by one of their supplied nurse co...
by IMO
Wed Jun 14, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 3674

Re: Would you take a 25% pay cut for more professional satisfaction?

Yes I would and did early in my career (with primary factor of more professional satisfaction). There are many factors that you do not mention, such as your age, what the real after tax net income difference between the various pay levels, do you have a spouse also working/not working, expense situa...
by IMO
Sun Jun 11, 2017 11:46 pm
Forum: Personal Consumer Issues
Topic: Choosing a home from 3 options
Replies: 7
Views: 1073

Re: Choosing a home from 3 options

No real simple answer on the choices, and like posted additional information can help on the pro's/con's of each home/location in regards to location to work, situation on getting to school (i.e. bus stop vs. having to drop off/pick up at school), after school situation (presume both working). Havin...
by IMO
Fri May 26, 2017 11:19 am
Forum: Personal Consumer Issues
Topic: Mexican Pacific Beaches
Replies: 52
Views: 4413

Re: Mexican Pacific Beaches

Been awhile since been but here's my recollection: 1. Acapulco Stayed on a hotel on the beach but was a busy area not high on my list best beaches. Don't remember feeling that the beaches were all that nice. Did a quick drive trip in the bay, horrible visibility and didn't get that clean water type ...
by IMO
Fri May 26, 2017 12:18 am
Forum: Personal Finance (Not Investing)
Topic: First house - penny wise?
Replies: 12
Views: 2748

Re: First house - penny wise?

Much appreciate the responses. Continuing to rent is certainly an option. I like the liquidity but get tired of sometimes having terrible neighbors and limited space for little kids to be kids. I'd assume with new construction there isn't much benefit to using a buyer's agent especially if you're n...
by IMO
Thu May 25, 2017 9:07 am
Forum: Investing - Help with Personal Investments
Topic: House Down Payment vs Retirement
Replies: 8
Views: 1303

Re: House Down Payment vs Retirement

So I'm having a personal battle between prioritizing the savings rate towards my house down payment or prioritizing retirement. Right now to keep it simple, every source of income throughout the month, 20% gets transferred into my savings. I do this versus one lump transfer at months end to assure ...
by IMO
Thu May 25, 2017 2:34 am
Forum: Investing - Theory, News & General
Topic: Refinance Mortgage From 30 to 15 OR Invest?
Replies: 46
Views: 4061

Re: Refinance Mortgage From 30 to 15 OR Invest?

no_surrender wrote:I've been contributing, not nearly enough, towards a 529 plan for my kids. I have yet to convert to Post-911 GI Bill, but plan on doing so...just haven't taken the time.
no_surrender wrote:


Looks like you're 3.5 yr minimum is now 4.0 yrs, as you'll have a 4 yr obligation. Should probably get around to that....
by IMO
Wed May 24, 2017 10:46 pm
Forum: Personal Consumer Issues
Topic: Pet insurance for new puppy
Replies: 77
Views: 6358

Re: Pet insurance for new puppy

Pet care has become astronomical. Procedures can sometimes end up costing more than your human insurance carrier would reimburse. This made me wonder, there is "medical tourism" for people, what about for pets? So did a quick search and sure enough, you can take your pet just south of the ...
by IMO
Wed May 24, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate tax benefit of owning a home
Replies: 34
Views: 2291

Re: How to calculate tax benefit of owning a home

You're not missing the fact that the interest deduction for many people is lower than their standard deduction or not much above it. As other's have said, you can also include charitable deductions, property taxes, state income taxes or sales tax (https://www.irs.gov/individuals/sales-tax-deduction-...
by IMO
Wed May 24, 2017 12:20 am
Forum: Personal Consumer Issues
Topic: Should I get a dual-action polisher for my working car?
Replies: 18
Views: 1379

Re: Should I get a dual-action polisher for my working car?

Just recently rented a grey car and not sure how but somehow there was a 10" significantly deep scratch. Didn't want to get charged for this so went online and watched youtube video's on how to remove scratches. I got some polish and went to Harbor Freight and bought a $20 electric car buffer. ...
by IMO
Wed May 24, 2017 12:14 am
Forum: Personal Consumer Issues
Topic: California Title Car Paid Off no Title for 8 months
Replies: 6
Views: 797

Re: California Title Car Paid Off no Title for 8 months

Whenever I had a loan on a vehicle, the bank/credit union provided the title showing there is no lien on the vehicle.

I'd start there.
by IMO
Wed May 24, 2017 12:01 am
Forum: Personal Consumer Issues
Topic: Looking to buy GoPro camera, need feedback/recommendations
Replies: 9
Views: 709

Re: Looking to buy GoPro camera, need feedback/recommendations

Personally, I don't see the big hype when it comes to size savings on the Hero Session camera's. You still need to mount it on your bike/ski helmet or use a chest mount, etc. My son (now a little older than your's) and myself have used the camera for some time, with the very sports your son will be ...
by IMO
Tue May 23, 2017 12:13 pm
Forum: Personal Consumer Issues
Topic: What to do w/ $60k Lump Sum?
Replies: 33
Views: 2496

Re: What to do w/ $60k Lump Sum?

Ok so my plan is to find out exactly how much I need to get out of PMI. Also, all remaining funds will go to the student loan. As far as trading in my car...I was looking at RAV4's and found one at $15k with low miles. However, there are a ton of Hyundai Sonota's at $10k with low miles and still ha...
by IMO
Mon May 22, 2017 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: First house - penny wise?
Replies: 12
Views: 2748

Re: First house - penny wise?

I'd go with your 2nd option. You sound like you are committed to this area for the long term. Sounds like this location would easily allow your family to be a 1 car family. In fact, a 10 mile total daily commute means you'll be able to probably get by on a less expensive car and keep your vehicle ex...
by IMO
Mon May 22, 2017 7:36 pm
Forum: Investing - Theory, News & General
Topic: Refinance Mortgage From 30 to 15 OR Invest?
Replies: 46
Views: 4061

Re: Refinance Mortgage From 30 to 15 OR Invest?

Good afternoon all, Still contemplating this dilemma...especially while rates are low. Refinance VA loan from 30-year 4.5% Interest mortgage (Owe 27 years) to 15-year 3.25% at an increase of approximately $258 per month OR increase TSP (military 401K) contributions? I currently max a Roth IRA and a...
by IMO
Mon May 22, 2017 11:29 am
Forum: Personal Consumer Issues
Topic: At what point to buy new car for safety
Replies: 74
Views: 5092

Re: At what point to buy new car for safety

[quote="MI_bogle] I think we as humans are irrationally afraid of low-probability discrete events happening beyond our control (plane crash, terrorism, car crash, etc) while at the same time woefully under-committed to things in our control that reduce health risks, such as healthier diet, les...
by IMO
Mon May 22, 2017 12:02 am
Forum: Personal Consumer Issues
Topic: At what point to buy new car for safety
Replies: 74
Views: 5092

Re: At what point to buy new car for safety

As someone has mentioned, the risk of significant accident is very very low, and you may drop that down technically with some new safety features, but probably not much in real world significance with your current Honda Pilot. Don't get me wrong, I think car safety is one of those issues that should...
by IMO
Sun May 21, 2017 11:35 pm
Forum: Personal Consumer Issues
Topic: Risks of electronic access
Replies: 57
Views: 4953

Re: Risks of electronic access

I too have concerns about electronic access. It really seems so easy on most of our electronic accounts to have the password reset to one's email or cell phone. Seems like emails are frequently hacked, so I can see an email getting hacked, a lost username/password request being made, and someone has...
by IMO
Sat May 20, 2017 10:36 pm
Forum: Personal Consumer Issues
Topic: How to pick up good tires for the car?
Replies: 22
Views: 1551

Re: How to pick up good tires for the car?

To complicate matters further, the age of a tire matters also. So for example, once I bought new tires for my elderly parents not because they were worn out (the tires, not my parents). But simply because they were 10 years old and I didn't want them having a tire failure on a busy freeway, especial...
by IMO
Sat May 20, 2017 9:31 pm
Forum: Personal Consumer Issues
Topic: 2nd car for long commute
Replies: 15
Views: 1843

Re: 2nd car for long commute

We have a 17 year old truck that has about 75,000 miles, still looks great, works great and has enough safety features (let alone the size factor for safety) that we try our best to only use in the situations that call for that type of vehicle. For us that would be for things like towing things on o...
by IMO
Sat May 20, 2017 12:07 am
Forum: Personal Consumer Issues
Topic: How to pick up good tires for the car?
Replies: 22
Views: 1551

Re: How to pick up good tires for the car?

I typically go to discount as they rotate tires without charge, have honored their tire "insurance", and really seem top notch for customer service. You can go down ask them what options they have, ask for feedback on tire features and cost. You can go to Costco or other places and see wha...
by IMO
Fri May 19, 2017 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: have you accepted a lower cost lifestyle to retire early?
Replies: 71
Views: 9394

Re: have you accepted a lower cost lifestyle to retire early?

You mention "lower cost lifestyle" and then just put $80K as your budget and then want to go to $50K. To answer that question, it seems that you really should be posting your specific budget items. For example, does that $80K now cover most medical costs from work, do you have 2 cars, but ...
by IMO
Fri May 19, 2017 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 2679

Re: Learning how to spend

Since a major part of my identity is that of a saver, I've been wrestling with the fact that I may be oversaving. Wealth effect may also be playing a role as my aggressive saving started in 2008. As such I never really felt the pain of the bear market. It just seemed like my net worth stayed flat w...
by IMO
Thu May 18, 2017 10:18 pm
Forum: Investing - Help with Personal Investments
Topic: Life's big ticket items to save for
Replies: 37
Views: 3111

Re: Life's big ticket items to save for

Using cars: Wife staying home for 16 years instead of continuing her management job in healthcare. 1 Ferrari LaFerrari Aperta Son at a top, private engineering college. 1 Lamborghini Huracan Second son in private high school. (not expensive one) 1 brand new Subaru STi Limited with nav and spare set...
by IMO
Thu May 18, 2017 10:03 pm
Forum: Personal Consumer Issues
Topic: Death in family a week before cruise
Replies: 30
Views: 3640

Re: Death in family a week before cruise

Sorry to hear of your situation. On the trip insurance thought (a hindsight now), I'm not even sure if it would cover your wife's grandmother, as I believe (but not certain) that it would only cover immediate family members? Someone else noted used travel insurance for a "relative" but I w...
by IMO
Thu May 18, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else agree with my logic on silicon valley housing?
Replies: 84
Views: 7497

Re: Anyone else agree with my logic on silicon valley housing?

Iwork locally. In my case and similar situation to others I know in SV, we went from making low six figures at college graduation to high six figures or low seven figures in early 30s after 6-7 promotions. Once I plateau, I'm likely gone as well or retired. The traffic drives me nuts and work cultu...
by IMO
Thu May 18, 2017 9:21 pm
Forum: Investing - Help with Personal Investments
Topic: Life's big ticket items to save for
Replies: 37
Views: 3111

Re: Life's big ticket items to save for

People seem to be jumping straight to savings for college. 1. How much/what are you doing for daycare? Have seen numbers posted that people pay for daycare that seem very high. 2. In a similar sense, what will they be doing for school? Public or Private? I have seen numbers posted that people pay fo...
by IMO
Wed May 17, 2017 12:19 am
Forum: Investing - Theory, News & General
Topic: What Will Burst the Next Bubble?
Replies: 66
Views: 6840

Re: What Will Burst the Next Bubble?

Who knows? But what's always interesting is many highly educated/experienced individuals/groups/organizations in the financial world seem to only do well in making hindsight analysis on what caused a bubble. Lots have their theories on the forum, why or why not something may be on the horizon, etc. ...
by IMO
Tue May 16, 2017 10:40 pm
Forum: Investing - Help with Personal Investments
Topic: Help, pay off house or invest?
Replies: 34
Views: 2694

Re: Help, pay off house or invest?

Hi, My first post. Background info: all the amounts have been reduced and are proportional to each other. 1.House owe/ total balance @5.25% 15yrs left: $50 2.Car payments @3.00% 4yrs left: $15 2a.No other debt, all CC are paid in full at end of month. 3.401k/ IRA balance: $24 4.Checking/ savings ac...
by IMO
Tue May 16, 2017 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to stay on a budget?
Replies: 31
Views: 3521

Re: How to stay on a budget?

What I personally find is the harder I track every expense, the harder I try to save more, the more unexpected expenses come up.

I wish I were joking ..... :annoyed
by IMO
Tue May 16, 2017 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else agree with my logic on silicon valley housing?
Replies: 84
Views: 7497

Re: Anyone else agree with my logic on silicon valley housing?

I'm a little confused as I read through this thread. You are seriously considering moving in 1 year, and even if you stayed beyond 1 year you are probably ready to move on sometime in the next 1-4 years? It seems a bit odd to be considering buying a home, which essentially sounds like "trying t...
by IMO
Tue May 16, 2017 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Challenging a Late Medical Bill
Replies: 22
Views: 1656

Re: Challenging a Late Medical Bill

I'm interested in how this turns out for you. Did the hospital submit to insurance already for that service in July 2015? It can often be helpful to physically to down to billing department at the hospital/clinic to discuss the specifics of the bill, was it submitted, denied, etc. I find that mail d...
by IMO
Tue May 16, 2017 5:30 pm
Forum: Personal Consumer Issues
Topic: Homeowner's Insurance & New Roofs
Replies: 44
Views: 3532

Re: Homeowner's Insurance & New Roofs

Hope that helps. Great to hear some input from an expect in this area. Curious, the site I looked up talked about less then honest roofers going up there and taking hammers and causing falsified damage. He said something about if you hear pounding on your roof when they are up there. Any experience...
by IMO
Tue May 16, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Is it legal to use a first mortgage for an investment property?
Replies: 40
Views: 2379

Re: Is it legal to use a first mortgage for an investment property?

I called, not only the lender but also the insurer. There is a difference homeowners' insurance that applies for rental properties. Don't know if that is the way it's marketed to me :oops: or whether it is true!! Will also affirm that you should be calling your insurer as you'd want to make sure th...
by IMO
Tue May 16, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Is it legal to use a first mortgage for an investment property?
Replies: 40
Views: 2379

Re: Is it legal to use a first mortgage for an investment property?

I've never called or informed the mortgage company after legitimately living in a home and subsequently making it a rental. Now when it comes to doing a refinance on the property which is now a rental with the same lender, we of course did have to go with the non-owner occupied mortgage. So now that...
by IMO
Tue May 16, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2793

Re: Retirees are hoarding cash

Looking at the graph in the article, the amount was $300K in their estate for various ages. Is that all liquid funds or did that include their house? So what they had $300K when they died. If they were getting or planning on long term care costs, that wouldn't last that long. And who can predict whe...
by IMO
Tue May 16, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Doctor wants Social Security number
Replies: 48
Views: 5002

Re: Doctor wants Social Security number

Fact remains that the offenses are difficult and expensive to prosecute. .... Your recourse there is to call your elected representatives. No, I'm aware of that. But this thread is about the pro's/con's/implications of ID theft if SS# given to your doctor's office to get care. Surely, if that $21 B...
by IMO
Tue May 16, 2017 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Doctor wants Social Security number
Replies: 48
Views: 5002

Re: Doctor wants Social Security number

As someone on Medicare I have to provide medical offices, labs, etc with my Medicare information so they can submit the bill. My Medicare information includes my SSN with a trailing letter. Am I missing something or am I just older than most posting here? My new Medicare card just came a few days a...
by IMO
Tue May 16, 2017 12:31 am
Forum: Personal Finance (Not Investing)
Topic: Doctor wants Social Security number
Replies: 48
Views: 5002

Re: Doctor wants Social Security number

People go to federal prison for identity theft all the time. There's actually a 2-year mandatory consecutive sentence for identity theft in connection with another federal fraud offense. It can often seem random which identity theft offenses are prosecuted by the feds. What they choose to prosecute...
by IMO
Mon May 15, 2017 8:34 pm
Forum: Personal Consumer Issues
Topic: Homeowner's Insurance & New Roofs
Replies: 44
Views: 3532

Re: Homeowner's Insurance & New Roofs

This topic and my 1st response questioning if hail does really damage roofs, prompted me to look some things up. Sure learned some about hail damage as I was honestly surprised asphalt singles can definitively be damaged by hail. I suppose there is age and various thickness qualities. Nice thing abo...
by IMO
Mon May 15, 2017 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 11
Views: 933

Re: Auto Insurance Question

I think bottlecap answered your questions: "A number of states apply a policy that the injured party has to be "made whole" before an insurer can assert its subrogation roghts against your settlement proceeds. But if your state doesn't, the health insurer might assert its rights again...

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