Search found 986 matches

by JGoneRiding
Thu Nov 30, 2017 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 38
Views: 3359

Re: Who are heirs? No will.

It's by representation not stripes. The grand nephews do not get more than the nephews just because there are less if them in that family line. Ianal but I believe the correct math is the nephew/niece generation splits 75% if estate and the grand nephew generation splits 25% In some states the grand...
by JGoneRiding
Mon Nov 20, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Newly built home. sell or rent?
Replies: 29
Views: 1889

Re: Newly built home. sell or rent?

How much has the home appreciated in just 6 months? If just a few thousand, how big a tax hit are you worried about... a few hundred bucks? Easy answer, sell it for the amount she paid for it 6 months ago. :happy Good point, I think it's appreciated by at least $5k. It would be nice to try to cover...
by JGoneRiding
Mon Nov 13, 2017 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab/Fidelity vs BoA Gold: Checking
Replies: 41
Views: 3201

Re: Schwab/Fidelity vs BoA Gold: Checking

I didn't read everything. I have a Schwab checking acct. It doesn't have a ton of money in but cycles through about 2k a month, I have a linked brokerage acct that has about 8k in it plus about 2k in cash. The other day totally my fault due to to fast ACH withdrawls before the deposits came I overdr...
by JGoneRiding
Mon Nov 13, 2017 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment
Replies: 36
Views: 3188

Re: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment

Also tempting is saving enough cash so that I could potentially buy a home without a mortgage if we were to move somewhere cheaper. I've been chastised by another poster for repeatedly suggesting this on things like this. I was in a much different situation but I was living in the Bay Area when I w...
by JGoneRiding
Sun Nov 12, 2017 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: "Starter House" - to pay off or not?
Replies: 13
Views: 1513

Re: "Starter House" - to pay off or not?

Either way I would do a refi now.
by JGoneRiding
Sun Nov 12, 2017 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 2760

Re: Getting a home mortgage without spouse?

Actually, one spouse buying the property isn't that uncommon. I've had to redo PA's, several times, when the lender calls and tells me to remove one party from the agreement. In MN it takes one signature to buy but two to sell (If married). I see, thanks so much for the information. We live in a co...
by JGoneRiding
Sun Nov 12, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: $30K loan for 12 months
Replies: 24
Views: 1771

Re: $30K loan for 12 months

Capitol One still has that offer fyi. Its listed when I logged in yesterday
by JGoneRiding
Sun Nov 12, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 150
Views: 13187

Re: How old are you and how much do you save for retirement a year

I am 44, wife is 39. We save: $36,000 401k(s)+ 4% match and variable profit sharing (me) and 3% wife $11,000 Roth $3,400 HSA (me) $36,000ish taxable (usually $3,000/month sometimes more, sometimes less depending on bills/spending) Total $86,000 + employer match + variable profit sharing amount and ...
by JGoneRiding
Sat Nov 11, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 150
Views: 13187

Re: How old are you and how much do you save for retirement a year

Age: 28 18000 (401K) + $3300 (HSA, invests) + $5500 (roth IRA) = $26,800 / year Investment Account Total Funds: ~ 140K Don't have enough cash flow to invest in taxable quite yet. Also, need to save up some cash for possible future expenses (wedding / house, etc). Looking for ways to increase my sal...
by JGoneRiding
Mon Nov 06, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: College student... Financial mess... Need advice...
Replies: 58
Views: 5852

Re: College student... Financial mess... Need advice...

Let the landlord evict her after non payment. Then you can negotiate the damages to settle. The problem with this is the LL is legally required to evict them both! So that will show on the OP future rec when other LL run checks. Its in the OP's best interest to get her to move out on his own. The L...
by JGoneRiding
Sat Nov 04, 2017 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing from 30 year to 15 year
Replies: 7
Views: 912

Re: Refinancing from 30 year to 15 year

So I have gotten "yelled" at a couple of times for saying you need 2 years of payment to reach PMI removal, but you have 3 years. but now I completely agree with 3 bears they MUST remove PMI at 80% LTV if you have reached that point with a appraisal (I cant quiet tell by your numbers) or 78% of LTV ...
by JGoneRiding
Sat Nov 04, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: College student... Financial mess... Need advice...
Replies: 58
Views: 5852

Re: College student... Financial mess... Need advice...

I have a friend that ended up in this situation too, unfortunately she was female and the male was threating her general well being but she also couldn't make him leave the unit. If enfolded EXACTLY like you predict in your OP. You have a couple of options : 1) you move back in and some how convince...
by JGoneRiding
Tue Oct 31, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: college savings: 529 or Roth IRA owned by child?
Replies: 6
Views: 747

Re: college savings: 529 or Roth IRA owned by child?

You would of course want to verify with your cpa. But it's my understanding that young children placed on parent owned business payroll don't get ssa credits bec you don't pay FICA on them. Also note fyi min wage laws and child labor laws don't apply to children working for their parents (child enda...
by JGoneRiding
Sun Oct 29, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: What is on your Pre and/or Post Retirement Bucket List?
Replies: 23
Views: 1898

Re: What is on your Pre and/or Post Retirement Bucket List?

I decided i wanted to enjoy number 2 on your list while it didn't sound so tiring. So we stretched and bought it with only 10% down as we were getting married. two years later I don't regret that choice and look fwd to raising our kids here. And as we make the ranch more functional it gets better. I...
by JGoneRiding
Sun Oct 29, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Selecting pension payout option
Replies: 15
Views: 1357

Re: Selecting pension payout option

DH and I are both age 58. We will both receive a defined benefit pension ... The [100%] option means that each of us will receive about 14% less than we would if we took the full amount If you and your wife both have average life expectancies, Muri, the 100% joint life option is significantly bette...
by JGoneRiding
Sat Oct 28, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Bank not discharging PMI?
Replies: 15
Views: 1963

Re: Bank not discharging PMI?

As someone else mentioned, the one time we had PMI (a few houses ago), the contract stated that 2 years must elapse before PMI can be dropped. It is a seasoning requirement, I believe. No surprises they said no, assuming that is in your paperwork. This is what my paperwork on PMI clearly stated, 2 ...
by JGoneRiding
Thu Oct 26, 2017 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Bank not discharging PMI?
Replies: 15
Views: 1963

Re: Bank not discharging PMI?

As someone else mentioned, the one time we had PMI (a few houses ago), the contract stated that 2 years must elapse before PMI can be dropped. It is a seasoning requirement, I believe. No surprises they said no, assuming that is in your paperwork. This is what my paperwork on PMI clearly stated, 2 ...
by JGoneRiding
Sun Oct 22, 2017 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Helping college costs of grandchildren
Replies: 37
Views: 2464

Re: Helping college costs of grandchildren

I don't know if this can ever be completely fair and equitable. The best you can hope for is that your adult children are mature enough to accept that you have a plan that you want to execute. In our case, we have 4 children, BIL has 3. His kids skew older, so he has 2 college graduates and one in ...
by JGoneRiding
Sun Oct 22, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire early?
Replies: 9
Views: 2558

Re: Can I retire early?

Op are you the female?? If so I might consider the pension without survival benefit. Females tend to live longer (just basic actuary math) and if you are the female and that much younger to start with the probability of going first baring accident isn't high
by JGoneRiding
Sun Oct 22, 2017 11:55 am
Forum: Personal Finance (Not Investing)
Topic: 1031 exchange for selling rental, building ADU at existing OO property?
Replies: 4
Views: 308

Re: 1031 exchange for selling rental, building ADU at existing OO property?

You are correct. You have to be buying "new" not improving old. Also you have to plan it out kind of ahead of time because you can't take possession of the funds in order to do an "exchange" oh and the exchange has to be higher in value or you have to pay taxes on the part that isn't
by JGoneRiding
Sun Oct 22, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Better to sell house ~ every 15 years?
Replies: 50
Views: 7268

Re: Better to sell house ~ every 15 years?

I will point out something I don't think was originally, you are restarting the mortgage clock. Basically taking all the equity out to get "new" so unless after 15 years you can afford to sell and buy and put the equity down AND only get a 15 year mortgage and the next time pay cash plus the 8% "tax...
by JGoneRiding
Sun Oct 22, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Helping college costs of grandchildren
Replies: 37
Views: 2464

Re: Helping college costs of grandchildren

All I can say is I was the grandchild in the situation you describe. It wasn't really an issue. Between the "children" money was given equally but grandma never attempted to give the childless children (3 of them) amounts to make up what she gave the grandkids (3 all to the same child). My aunts are...
by JGoneRiding
Sat Oct 21, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 1898

Re: On selling home to a child

Why involve a real estate agent? I believe CA is like WA in that title companies are the standard. They do all the real work. Simply submit a signed purchase agreement to them. And they will make sure everything is checked and recorded. All a real estate agent does is help identify a buyer. That par...
by JGoneRiding
Sat Oct 21, 2017 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: How does/can Walmart offer such inexpensive prescriptions?
Replies: 107
Views: 7372

Re: How does/can Walmart offer such inexpensive prescriptions?

Not sure it was said. But Costco/Walmart etc get better than average prices for the drugs they buy in the first place. So the pass that along. Where I know private pharmacies that make like 1-2 an rx from medicare because they can't buy the drugs as cheap to start
by JGoneRiding
Sun Oct 15, 2017 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand what happens with the new law and ACA subsidies
Replies: 80
Views: 6200

Re: Help me understand what happens with the new law and ACA subsidies

Actionable items: 1.) and this is key, have a paid off house in a lcol area with low property taxes such as Colorado. 2.) don't work so hard, make less, if your wife works considered letting her stay home and take care of the kids. Take the time to do the math and make sure it's really worth it to ...
by JGoneRiding
Sun Oct 15, 2017 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Annuities - how does insurance company know you died?
Replies: 49
Views: 3053

Re: Annuities - how does insurance company know you died?

I am not a lawyer and can't give a legal opinion on something like the above, but surely legal opinions exist. Are you citing actual case law or simply expressing your own lay presumptions? Neither, I am a lawyer. LOL I think that is one of the best quotes on here!!! Back to the OP. The SSA "bribes...
by JGoneRiding
Sun Oct 15, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Need help with family financial situation - sheltering money / medicaid
Replies: 22
Views: 2285

Re: Need help with family financial situation - sheltering money / medicaid

WA state recognizes all inheritance as separate property. So your mom should be totally fine there as long as she puts her inheritance in her own account. I might open a new one just for this inheritance so there is never any question of it having any marital funds and then I would add nothing to th...
by JGoneRiding
Fri Oct 13, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Need help with family financial situation - sheltering money / medicaid
Replies: 22
Views: 2285

Re: Need help with family financial situation - sheltering money / medicaid

I KNOW people in WA state that went the legal separation route. It has worked well for them for the intended purpose of dividing assets (in their case assigning all debt to one spouse so they could get a home loan under the other) WA might be a little unique as it is one of 7? that is community prop...
by JGoneRiding
Tue Oct 03, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Cash on hand for emergencies
Replies: 42
Views: 3471

Re: Cash on hand for emergencies

We keep a few thousand dollars in a safe. Frankly, it's come in handy a few times to get the "pay cash get the 10% discount" than emergencies but I wouldn't get too comfy with ATM reliability. They don't work in power outages. We also have a portable generator and a moderate supply of canned goods/...
by JGoneRiding
Tue Oct 03, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Cash on hand for emergencies
Replies: 42
Views: 3471

Re: Cash on hand for emergencies

In these days, I'd recommend keeping the following at home. 1) 2.5k - 5k in cash (in a hidden safe preferably bolted to the ground). 2) Legally licensed gun and ammo (in a hidden safe preferably bolted to the ground). 3) Water for up to 2 weeks for you and your family. 4) MRE's which last for ever....
by JGoneRiding
Mon Oct 02, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Cash on hand for emergencies
Replies: 42
Views: 3471

Cash on hand for emergencies

I know this has been disgust a bunch, BUT the recent natural disaster in Puerto Rico has me thinking about it again. According to reports gas stations are rationing, people cant use Credit cards cause power is still limited. ATMs are limiting withdrawals to $40 after you stand in hour long line. And...
by JGoneRiding
Sun Oct 01, 2017 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Trust or ?
Replies: 13
Views: 1362

Re: Trust or ?

IANAL but I think you are making it unnec complicated. Consult a lawyer and set up a LRT. That becomes final on your death that your wife gets 100% of the income but zero of the principle EXCEPT for long term health issues. Then your children get the remainder trust when you pass. your wife would on...
by JGoneRiding
Sun Oct 01, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Using investments to pay student loans.
Replies: 8
Views: 542

Re: Using investments to pay student loans.

No DO NOT do that. And for what its worth I have the same situation (actually now my investments are worth a lot more than my remaining SL debt) I understand the temptation. Start tracking Net worth and you will feel better because those investments will keep going up as you add to it and the SL wil...
by JGoneRiding
Sun Oct 01, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Moving from one paid-for house to another
Replies: 22
Views: 2136

Re: Moving from one paid-for house to another

You sell your house first and negotiate a rent-back from the buyer for while you're looking for the new place. I disagree if the property you are selling is as hot as described, Then find the house your wife wants first so there is no pressure to hurry up. Put in a good offer on property B continge...
by JGoneRiding
Sun Oct 01, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: loosening the purse strings a bit at 37?
Replies: 30
Views: 4090

Re: loosening the purse strings a bit at 37?

I suggest this: Set your retirement savings at 20% of gross, save your target amount for kids 529s, pay taxes, Then save 10% of remainder in taxable as "money to spend on long term wants or needs" save up a 10 mos EF. Enjoy spending the rest as long as the spending pattern isn't a permanent life sty...
by JGoneRiding
Sun Oct 01, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: My boneheaded financial mistakes
Replies: 77
Views: 10270

Re: My boneheaded financial mistakes

We've been pretty good. Biggest mistake was probably choosing a career in a nonprofit profession. Started a recovery community center for people dealing with addictions and mental health issues. As they say "When you work for a nonprofit, you make no profit." ;) Spouse works for state gov't. Thankf...
by JGoneRiding
Sun Oct 01, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: My boneheaded financial mistakes
Replies: 77
Views: 10270

Re: My boneheaded financial mistakes

Got must-buy-a-home fever in 2005. Decided it was a bubble market, so held off...for an entire year, finally relenting and buying in 2006, at the exact peak as luck would have it. Watched as house dropped >60% in value over the next 5 years. It's rebounded some, but is still down quite a bit, and e...
by JGoneRiding
Sat Sep 30, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from one paid-for house to another
Replies: 22
Views: 2136

Re: Moving from one paid-for house to another

You sell your house first and negotiate a rent-back from the buyer for while you're looking for the new place. I disagree if the property you are selling is as hot as described, Then find the house your wife wants first so there is no pressure to hurry up. Put in a good offer on property B continge...
by JGoneRiding
Sat Sep 30, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: 20% Down Payment Sub-optimal?
Replies: 54
Views: 4712

Re: 20% Down Payment Sub-optimal?

The OP doesn’t consider that by not saving up 20% you haven’t demonstrating your ability to live below your means which is usually a prerequisite for being able to afford a home. If your rent is $1000/mo and the refrigerator goes, you still pay $1000 that month. If you get an invasion of ants and t...
by JGoneRiding
Sat Sep 30, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Should my wife start a 401k
Replies: 25
Views: 1317

Re: Should my wife start a 401k

I agree with your wife as well. You are likely to save a lot more from optimizing your taxes than the 3.25% return on the mortgage. I hear you on wanting to be free of debt. I had the same attitude before discovering Bogleheads. If I had to do it over, I would have maxed the 401k first. If you real...
by JGoneRiding
Fri Sep 29, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Question: Why do people put/keep millions of dollars in investment accounts?
Replies: 66
Views: 8642

Re: Question: Why do people put/keep millions of dollars in investment accounts?

..Sure, you keep a few hundred thousand dollars in safe CDs, money market, and/or bonds, but burying much more than that doesn't make sense. Not sure where the risk concern is coming from. Obviously, you can do stupid stuff with real estate like with anything, but we're not talking about that. I un...
by JGoneRiding
Tue Sep 26, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Recasting right after home purchase
Replies: 6
Views: 903

Re: Recasting right after home purchase

I would try to switch the closing order. Close on the old house first. if nec "rent" back for 3 days. then close on the new with the old for down payment. Extra win the title company will hold the proceeds and you don't have to worry about closing check
by JGoneRiding
Mon Sep 25, 2017 10:53 am
Forum: Personal Finance (Not Investing)
Topic: AirBnB Hosting - In lieu of traditional rentals
Replies: 13
Views: 2188

Re: AirBnB Hosting - In lieu of traditional rentals

So I tried it for a little bit when basically I wanted to keep a unit empty till I could move a different renter in there later. I didn't like it. It was WAY to hands on for me. It is significantly simpler to traditionally rent as long as the renter isn't to needy. Neediness is a screening factor fo...
by JGoneRiding
Mon Sep 25, 2017 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Protecting Checking Account Info
Replies: 12
Views: 1041

Re: Protecting Checking Account Info

This goes back to the "cash" vs credit argument. and as such I use much more credit. I do give checks to businesses at times and to my church (though I do think they have a credit option) But as far as ACH goes they would need to want to steal your identity in part too. While it is WAY to easy to se...
by JGoneRiding
Sun Sep 24, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Spouse Money Management
Replies: 94
Views: 6572

Re: Spouse Money Management

If you were married i would agree with your coworkers but as two single people unless you signed on to help put her through college you should both be paying half of the nec expenses (rent, utilities, basic food) you should pay for upgrades--cable, internet, nicer apt, dinner out. She should pay all...
by JGoneRiding
Sat Sep 23, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: The Magic of Savings Rate
Replies: 97
Views: 11345

Re: The Magic of Savings Rate

Folks, It is very simple but hard. 1) Average American at all income level saves nothing. 2) So, if you want to save money, do not live like average American at your income level. Live like the average American at one income level below you. Then, you could save money. 3) The key question is where ...
by JGoneRiding
Sat Sep 23, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads monthly costs of dog ownership?
Replies: 83
Views: 5473

Re: Bogleheads monthly costs of dog ownership?

I am a vet. Honestly min cost for maintenance. Set aside a dog emergency fund of 1200-2500 and you are good to go. Yearly vet maintenance on a young dog should be about $150 or less. If you live in an area with flea infestations or heartworm assume 25-50/mos for that. Food should be about $50/mos. T...
by JGoneRiding
Sat Sep 23, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: No down payment for home purchase: what is worst-case scenario?
Replies: 39
Views: 2441

Re: No down payment for home purchase: what is worst-case scenario?

Doesn't PMI have to be paid for the life of the mortgage on a conventional loan if 20% isn't put down? Only on FHA loans all other loan types have automatic removal of PMI after a certain number of years/payments assuming you don't screw up. For mine with 10% down it was a max of 5 years (well real...
by JGoneRiding
Sat Sep 23, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: No down payment for home purchase: what is worst-case scenario?
Replies: 39
Views: 2441

Re: No down payment for home purchase: what is worst-case scenario?

To answer the original question. You can only buy a true 0% down if doing a VA loan but most sellers will take less money if the option exists because the VA is hard to deal with. Ditto for fha for which you must first qualify and then have 3.5%. After that you generally need 5 to10% to make a deal ...
by JGoneRiding
Wed Sep 20, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: online security questions and some comments
Replies: 16
Views: 1255

Re: online security questions and some comments

6. I try my best to use security questions whose answers can not be easily researched. Never use the real answers. Just make up stuff and keep track of your phony answers. Example: What was the model of your first car? Real answer: Mustang Security answer: goofymobile I find I forget them. But who ...