Search found 74 matches

by Jay045
Fri Apr 21, 2017 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help
Replies: 3
Views: 382

Re: Portfolio help

Thanks, all makes sense. Leaning toward what you suggested already. 6. Would her $1k/month be better used contributed to an index fund rather than paying down mortgage? Or is essentially “earning” 4.25% compounded interest by paying the mortgage the best way to go? 7. Time to let go of individual st...
by Jay045
Thu Apr 20, 2017 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help
Replies: 3
Views: 382

Portfolio help

Greetings, Seven years ago I discovered Bogleheads and folks helped me rebalance my investments and simplify (for the most part) my life. It made a tremendous difference and put me on the right path. About a year ago, I got married and just now we are getting around to figuring out our financial fut...
by Jay045
Wed Apr 12, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question: cost basis on rental real estate
Replies: 5
Views: 311

Re: Tax question: cost basis on rental real estate

Thanks, did catch the 200% issue, and changed to straight line.
by Jay045
Wed Apr 12, 2017 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question: cost basis on rental real estate
Replies: 5
Views: 311

Re: Tax question: cost basis on rental real estate

Wow. Thanks for the reply. It sounds like her timing wasn't great, converting it to a rental at the low point of its value. Good to know. The cost basis for depreciation should be the lesser of original cost or FMV at time of conversion to rental property (less any value assigned to land if that is ...
by Jay045
Wed Apr 12, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question: cost basis on rental real estate
Replies: 5
Views: 311

Tax question: cost basis on rental real estate

Greetings all. I'm recently married, and filing our first joint tax return. I've helped my wife before as a bachelor, but never gotten under the hood, so to speak. So just discovered this. She has a rental property that she used to live in; purchased in 2007. She has rented it since 2012, and instea...
by Jay045
Tue Sep 13, 2016 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: No health insurance - please help.
Replies: 24
Views: 2489

Re: No health insurance - please help.

Like others have said, document your chronology. I'd go a step further, and take it to your state's insurance commissioner's office.

I had a problem with my insurer that they continued to ignore, but suddenly (and quickly) were responsive once the state insurance commissioner contacted them.
by Jay045
Wed Sep 07, 2016 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor 401K and Tax Questions
Replies: 9
Views: 838

Re: Sole Proprietor 401K and Tax Questions

Unrelated to your question, but incorporating as an S Corp can save you on the FICA. You still have to set a reasonable salary, but under an S Corp not all revenue is necessarily subject to payroll taxes.
by Jay045
Tue Sep 06, 2016 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice... Girlfriend and I are looking to buy our first home in Denver (super hot seller's market)
Replies: 80
Views: 5889

Re: Need Advice... Girlfriend and I are looking to buy our first home in Denver (super hot seller's market)

I feel for you. I bought in Denver in 1998, and prices were not nearly as out of whack as they are now. It was possible to buy based on your salary. I've moved on, but held onto the house, and watched it quadruple in value. On the other hand, I find myself living in a condo, because I'm now in an ev...
by Jay045
Tue Aug 16, 2016 5:55 pm
Forum: Personal Consumer Issues
Topic: AAA Car Batteries
Replies: 44
Views: 16307

Re: AAA Car Batteries

I just checked, and my AAA battery lasted four years, four months. Warranty covers six years (three year free replacement, three years pro-rated). What I did like is that they had my battery info in their system, and the replacement cost $78. I'd prefer for the battery to last the full six years, bu...
by Jay045
Tue Aug 16, 2016 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: buying used car smarter than buying new?
Replies: 89
Views: 5809

Re: buying used car smarter than buying new?

It's been awhile, but I bought my current car new about ten years ago. It was in September, and I was browsing used Subaru Outbacks, trying to take advantage of a lower price for a gently used two year old cars. I looked at the models, scratching my head as to why they were so expensive. I asked the...
by Jay045
Thu Aug 11, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Travel for a Year with Family - Career Impact?
Replies: 35
Views: 3902

Re: Travel for a Year with Family - Career Impact?

I have no experience in this matter, and am not in your asset class. But I think what the poster below said is spot on. I don't think you need to follow a linear pathway; there are a lot of positive surprises and taking a year or however long you decide on to explore the world and be with your famil...
by Jay045
Fri Jul 08, 2016 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Your opinion of mint.com
Replies: 55
Views: 6435

Re: Your opinion of mint.com

They've improved. I don't think you could get a P&L some years ago when I tried using this... Another vote for Quicken software rather than Mint.com. Maybe I missed it, but when I used it, I wasn't able to pull up income/expense reports, or analyze spending by category, or use custom timeframes ...
by Jay045
Fri Jul 08, 2016 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Your opinion of mint.com
Replies: 55
Views: 6435

Re: Your opinion of mint.com

Another vote for Quicken software rather than Mint.com. Maybe I missed it, but when I used it, I wasn't able to pull up income/expense reports, or analyze spending by category, or use custom timeframes for creating reports. mint as a product has not made much improvements in many years. Personally I...
by Jay045
Tue Jul 05, 2016 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance coverage for a non-profit BOD
Replies: 6
Views: 666

Re: Insurance coverage for a non-profit BOD

D&O insurance is common and typically isn't that expensive, especially if the organization is small and does not have a lot of staff. This insurance is different than liability insurance. Some states have good Samaritan laws that minimize risk, but that probably doesn't cover the board doing som...
by Jay045
Thu Jun 30, 2016 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 226
Views: 27069

Re: Where were you financially when you were at 30?

I was about a year away from buying my first house. I was a couple of years into running my consulting business (still at it, almost 20 years later). Finally had turned the corner into making it a viable, full-time job. Maybe making $30,000 (1997 dollars). I had some money in the bank, and finally h...
by Jay045
Thu Jun 30, 2016 4:00 pm
Forum: Personal Consumer Issues
Topic: 44 Hours in Los Angeles
Replies: 25
Views: 2160

Re: 44 Hours in Los Angeles

I'm going to echo the recommendation for the Getty.
We also like walking through Griffith Park (Griffith Observatory was in Rebel without a Cause).
by Jay045
Mon Jun 27, 2016 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Blue Shield of California - HMO vs. PPO
Replies: 26
Views: 3772

Re: Blue Shield of California - HMO vs. PPO

I switched from Kaiser Permanente (San Diego) to BSCA. I couldn't quite understand why I would pay the same amount to choose from the limited number of docs in the Kaiser network rather than buying a PPO. After the ACA was enacted, BSCA provided very poor customer service; I'd wait endlessly on the ...
by Jay045
Wed Jun 22, 2016 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Owners and payroll
Replies: 7
Views: 869

Re: S-Corp Owners and payroll

I'm a one-person S-Corp, so my situation is different than yours. As the owner, I can't get the company to pay for my health insurance directly, but I can reimburse myself for the cost of the premiums. However, it's treated as income on my w-2. The reason for doing it this way is then I can include ...
by Jay045
Wed Jun 22, 2016 10:45 am
Forum: Personal Finance (Not Investing)
Topic: 501c3 or 501c6? Which type?
Replies: 3
Views: 301

Re: 501c3 or 501c6? Which type?

I work as a consultant to nonprofits (fundraising/grants), and just about every nonprofit I've worked for over the past two decades is a 501c3. 501c6's are meant for associations, like trade groups, which is why you saw your local chamber of commerce incorporated that way. It will be easier for you ...
by Jay045
Thu Jun 16, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent it out
Replies: 9
Views: 1302

Re: Sell or Rent it out

Beyond the calcs for this specific situation, which I agree don't seem to add up, there's another issue. Real estate is a good investment for those with a passion for it. I'm about to sell my rental property, and I'm not sure I'd invest in real estate over other options in the future. Index funds do...
by Jay045
Thu May 12, 2016 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

Thank you for the nice words! You're right - we've got a great partnership, and we do talk openly about things. Best relationship either of us has ever had. Therein lies the great irony of prenups: if your relationship is strong enough to discuss it, you probably aren't the ones who need it. It soun...
by Jay045
Thu May 12, 2016 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

Well, I followed the advice of folks who told me to consult a lawyer, and she told me that a prenup in our situation is nice to have, but not a necessity. Just clears things up later on, and could allow us to keep our retirement accounts separate (not having to divide up the portion of community pro...
by Jay045
Thu May 12, 2016 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

You're right - we've got a great partnership, and we do talk openly about things. Best relationship either of us has ever had. I'm wise enough to know that things can change, but it feels unlikely. I agree about talking to a lawyer, and am going to do that as soon as I can. 1. Have you discussed thi...
by Jay045
Thu May 12, 2016 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

We have actually talked about it, and our expectations if the (unlikely) event of a divorce would happen. She's not opposed to it, just not the one to initiate it. Another factor is divorces can be very expensive. A prenup says who gets what upfront. Assuming they don't fight the prenup, it can make...
by Jay045
Wed May 11, 2016 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

Well, she's 52, so pregnancy probably won't be an issue :happy
But I genuinely appreciate the advise, I am contacting attorneys to learn more about whether or not this is something that's important to do.

obgyn65 wrote:I would get a prenup in your situation. Especially if she can get pregnant.
by Jay045
Wed May 11, 2016 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

Good point. I will call around... If you have not already done so, I suggest consulting an attorney, experienced in such matters in your state, about the issues of your situation, the potential risks involved, and how a "pre-nup" might or might not be of benefit. There might be ways of avo...
by Jay045
Wed May 11, 2016 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

One part of this is for the legal benefits of being married. I get on with her health insurance, we have more authority to take care of each other. The other part is psychological, mostly for her. Wanting to be married. Not to pry, but why get married? Why not just each write a living will, and leav...
by Jay045
Wed May 11, 2016 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

I agree that the assets aren't quite equal, but they're closer than they appear. Seems like California law is pretty clear on the distinctions between community and separate property http://www.courts.ca.gov/1039.htm , and that my assets would be classified as separate property. The California Judic...
by Jay045
Wed May 11, 2016 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Re: Prenup, middle age couple no children

Thanks much! She has set up a will, and I'm her executor. She does have five brothers and sisters, and I know that her assets are split between myself and her siblings/nieces/nephews. I have one sibling, though my parents are still alive, so I have my will divided three ways (fiance, brother, and on...
by Jay045
Wed May 11, 2016 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3585

Prenup, middle age couple no children

I've looked through the threads and read a lot of great information, but I haven't quite found a scenario like ours. I apologize in advance for opening this topic back up. Here are our details: 1) NO KIDS: We don't have children. 2) AGE, LOCATION: I'm 48, she's 52. We live in California 3) CURRENT S...
by Jay045
Tue Dec 01, 2015 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance with Home Equity Line of Credit
Replies: 4
Views: 863

Re: Refinance with Home Equity Line of Credit

Good find. I'll have to think if I can clear this loan in five years...would feel more comfortable with ten years. But glad to know about Hanscom, some good rates both for the HELOC and traditional mortgage rates. Hanscom credit union has a hel/heloc combined thing, 2.75% variable or 2.99% fixed 5 y...
by Jay045
Tue Dec 01, 2015 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance with Home Equity Line of Credit
Replies: 4
Views: 863

Re: Refinance with Home Equity Line of Credit

Doesn't look like an option, fixed rates were higher than what I have. Guess I have to deal with nontraditional lenders or just live with what I've got.

I'm going to pay down $20,000 right away, and just keep chipping at this rather than refinancing.
by Jay045
Tue Dec 01, 2015 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance with Home Equity Line of Credit
Replies: 4
Views: 863

Refinance with Home Equity Line of Credit

Greetings all, I have a condo with $160,000 left on its mortgage, at a rate of 4.625%. The condo is in California, and worth $300,000-$325,000. Some months ago, I attempted to refi with a 15 year loan, but got turned down because the condo certification didn't pass muster. We're in a small 18 unit b...
by Jay045
Sun May 10, 2015 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Should I sell my house? Capital gains, other considerations
Replies: 3
Views: 705

Should I sell my house? Capital gains, other considerations

I moved out of my house in Denver about 3.5 years ago, and have been renting it out since. However, I still have use of a basement apartment, and use the apartment four-five times a year for work and leisure. I recognize that I could just rent a hotel room for when I visit, but it is nice to have an...
by Jay045
Tue Apr 07, 2015 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Switch to 15 year mortgage? (Cash flow vs. better rate)
Replies: 17
Views: 2318

Re: Switch to 15 year mortgage? (Cash flow vs. better rate)

Makes sense. I do like the idea of increasing equity much more rapidly.
JamesSFO wrote:I made a similar switch back around 2004 to a 15 year mortgage and it ended up being a good type of forced savings. But it definitely was tough for the 1-2 years in terms of cash flow.
by Jay045
Tue Apr 07, 2015 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Switch to 15 year mortgage? (Cash flow vs. better rate)
Replies: 17
Views: 2318

Re: Switch to 15 year mortgage? (Cash flow vs. better rate)

Got a couple quotes (one from a broker, one from a lender) and the rates came back exactly the same. For some reason, California condos always seem to tick up the rate. But I will try one more quote

Hypersion wrote:Those rate seam high have you shopped around?
by Jay045
Tue Apr 07, 2015 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Switch to 15 year mortgage? (Cash flow vs. better rate)
Replies: 17
Views: 2318

Re: Switch to 15 year mortgage? (Cash flow vs. better rate)

Good point. Somehow I missed the capital gains exemption in my thinking about this; I was thinking of buying and holding, as if it were a mutual fund and not looking at that part. I can see the wisdom in doing that, but also I could do a Section 1031 exemption as long as I reinvested in RE, right? I...
by Jay045
Tue Apr 07, 2015 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Switch to 15 year mortgage? (Cash flow vs. better rate)
Replies: 17
Views: 2318

Re: Switch to 15 year mortgage? (Cash flow vs. better rate)

Thanks for the reply! I actually did this back in 2010 during my last refi...maybe will do that again, that makes sense for a short term solution. Have you considered a zero cost refi? It's not truly zero cost since the mortgage broker or lender get paid by adding some points on the loan, but from y...
by Jay045
Tue Apr 07, 2015 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Switch to 15 year mortgage? (Cash flow vs. better rate)
Replies: 17
Views: 2318

Switch to 15 year mortgage? (Cash flow vs. better rate)

Here's my situation: I'm living in a two bedroom condo, and we (my girlfriend) talk about moving because we're a little cramped in our 800 sq ft condo. But we're also flexible enough to stay where we are because it makes financial sense and it's a nice condo in a good location in San Diego (little o...
by Jay045
Sat Mar 14, 2015 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Using cellphone from Mexico
Replies: 8
Views: 1224

Re: Using cellphone from Mexico

We were counting on Skype but our vacation rental had a weak signal...not fast enough for Skype. So id ask ahead about speed if youre going that route. Question: are you staying in a condo or hotel that provides a wifi connection? Most do these days. We were recently in Mexico and had wifi in our co...
by Jay045
Fri Mar 13, 2015 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Using cellphone from Mexico
Replies: 8
Views: 1224

Re: Using cellphone from Mexico

Att is just .25 per minute in Mexico. ..but if you can get service. We bought cheap Telcel phones with sim cards...maybe $15-20 with some credit. Funny thing is when I turn the phone on in the US it behaves like an ATt phone. Leads me to believe you could just buy the Sim card for your own phone if ...
by Jay045
Fri Mar 13, 2015 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Pet insurance?
Replies: 32
Views: 3114

Re: Pet insurance?

I've had it for a few years, +1 on Healthy Paws, they're awesome. I know it's not 100% rational, but it makes sense for an older dog. I've definitively received more in reimbursement s than premiums for two of the four years we've had it. But what it comes down to for me is not hesitating when she n...
by Jay045
Wed Apr 16, 2014 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 15
Views: 1491

Re: Tax Efficient "Gifting" for K-12 private school tuition

Ah, that makes sense. I think there was an IRA that was going to trigger some taxes, which I know is the function of distributions taken on a traditional IRA. But other than that, we're not looking at an estate of that size. There is no Federal estate tax for estates under a very large value - was $...
by Jay045
Wed Apr 16, 2014 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 15
Views: 1491

Re: Tax Efficient "Gifting" for K-12 private school tuition

Thanks all for the input. I can see that there's not really any way to do this; it's not a large estate, and I'm sure she'll simply let the machinery of the estate process move forward and just gift the money to her brother's family. I appreciate your responses
by Jay045
Wed Apr 16, 2014 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 15
Views: 1491

Re: Tax Efficient "Gifting" for K-12 private school tuition

Point well taken. I think my intent was to see if there's anything she can do to reduce the estate tax on what she wants to give away. Clearly, she could withhold from the gift what she anticipates the tax bill to be, but I think she wants to maximize her donation. Thanks all for the other suggestio...
by Jay045
Wed Apr 16, 2014 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 15
Views: 1491

Tax Efficient "Gifting" for K-12 private school tuition

My girlfriend wants to contribute funds she is about to receive from an inheritance for her niece and nephew's private (K-12) education. I understand that the U.S. system is set up to help pay for college tuition, but I could not find anything related to K-12. I know she can simply give a gift to he...
by Jay045
Wed Mar 19, 2014 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend pays rent - tax filing (Schedule E or elsewhere?)
Replies: 10
Views: 3691

Re: Girlfriend pays rent - tax filing (Schedule E or elsewhe

Glad it was useful to someone else! I noticed that it was pretty hard to find advice on this one.

Shredder wrote:
Jay045 wrote:For others in this situation, found an interesting discussion on the topic: http://forum.thetaxbook.com/archive/ind ... 12699.html

Thanks!
by Jay045
Mon Mar 17, 2014 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend pays rent - tax filing (Schedule E or elsewhere?)
Replies: 10
Views: 3691

Re: Girlfriend pays rent - tax filing (Schedule E or elsewhe

Thanks Huey, I studied this, and came to the same conclusion. I'm definitely not Schedule E reporting this. However, I may try to classify the rent payments as contribution for living expenses (food, utilities, etc.) rather than income on line 21, and not report it. The amount of about $250/month se...
by Jay045
Mon Mar 17, 2014 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend pays rent - tax filing (Schedule E or elsewhere?)
Replies: 10
Views: 3691

Re: Girlfriend pays rent - tax filing (Schedule E or elsewhe

Thanks for the question, and I should have stated that clearly. I was living there.

sscritic wrote:Were you living there? In other words, was she renting the whole place as her own residence?

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