Search found 612 matches

by LarryAllen
Sun Aug 20, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about trust
Replies: 2
Views: 246

Re: Questions about trust

I am about to see an estate lawyer and I have been reading a little about estate planning. I am inclining to set up a trust and then transfer it to my kids when both my wife and I pass. Before I go to a lawyer, i would like to ask the right questions-so here are some of my questions: We (my wife an...
by LarryAllen
Sun Aug 20, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 104
Views: 7439

Re: Jobs that pay over $100,000

The other thing to remember is there is a huge range of what people make in any profession. Looking at average incomes is fine but you need to try to guess what your child will be best suited for. So, if they are not very outgoing, then a "sales" type job (which includes most jobs where you make goo...
by LarryAllen
Sat Aug 19, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 104
Views: 7439

Re: Jobs that pay over $100,000

Are you really saying that you need to be "outstanding" to be an engineer? As an engineer, I have to say that is a load of BS. Most people aren't engineers because they don't want to be engineers. It has nothing to do with ability or not being "outstanding". I am 100% confident that the average hig...
by LarryAllen
Fri Aug 18, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 104
Views: 7439

Re: Jobs that pay over $100,000

Sales.
by LarryAllen
Thu Aug 17, 2017 9:06 pm
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 174
Views: 12939

Re: Lost $7000 today in ONE DAY!

A lot of people on here had their portfolios go down significantly more than $7k today. No biggie. Hopefully it goes back up before I retire and actually need the dough.
by LarryAllen
Thu Aug 17, 2017 12:41 pm
Forum: Personal Consumer Issues
Topic: Other people's perception of your finances
Replies: 73
Views: 3497

Re: Other people's perception of your finances

Over the last month, we have had two separate family visits where they stayed with us for almost two weeks each. Two weeks is just too long no matter what. Even if they were paying for everything two weeks is too long. However, that is on YOU to step up and say "would love to have you guys visit fo...
by LarryAllen
Wed Aug 16, 2017 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: California - clarification on taxes
Replies: 36
Views: 2385

Re: California - clarification on taxes

There are a ton of different taxes to consider. As mentioned prop 13 keeps property taxes VERY low for Californians who own their home a long time. Sales tax is similar to most other states. However, CA does not have a state "estate" (or death) tax as many states do. In fact, many states kick in at ...
by LarryAllen
Wed Aug 16, 2017 8:42 am
Forum: Investing - Help with Personal Investments
Topic: California - clarification on taxes
Replies: 36
Views: 2385

Re: California - clarification on taxes

I try to just focus on making more money to overcome the tax burden. Not saying I totally ignore the taxes but it's more pleasant to just focus on income and figure out a way to make more of it. Works for me anyway.
by LarryAllen
Tue Aug 15, 2017 9:49 am
Forum: Personal Finance (Not Investing)
Topic: How much coverage should I buy in an umbrella liability policy
Replies: 15
Views: 1544

Re: How much coverage should I buy in an umbrella liability policy

djpeteski wrote:
Tue Aug 15, 2017 9:29 am
Using State Farm is akin to having no insurance. You are far better off with anyone else. They do not pay claims.
Interesting. We had a policy with them and they paid out the claim, with no dispute, very quickly. I was quite impressed.
by LarryAllen
Tue Aug 15, 2017 8:20 am
Forum: Personal Consumer Issues
Topic: What kind of hotel do you get on business travel?
Replies: 45
Views: 3134

Re: What kind of hotel do you get on business travel?

Typically full service Starwood, Marriott, Hyatt and occasionally Hilton family. I like to stay as close as possible to where I need to be which tends to be a conference at a hotel or an office in a downtown.

I don't mind the Courtyard level either but more typically it's the f/s properties.
by LarryAllen
Mon Aug 14, 2017 10:39 am
Forum: Personal Consumer Issues
Topic: Bough gift cards from cash card.com and somebody else used them all
Replies: 25
Views: 2741

Re: Bough gift cards from cash card.com and somebody else used them all

I am truly sorry for your situation. With so many things in life it's just not worth the savings. It often adds an element of risk. Often a small risk but it's a risk. This is a good reminder to everybody that participates in these things. Buyer beware! I truly hope it works out but I don't have a g...
by LarryAllen
Mon Aug 14, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Do I Need a Trust? (for single, no children, beneficiaries, etc.)
Replies: 16
Views: 1365

Re: Do I Need a Trust? (for single, no children, beneficiaries, etc.)

Get a trust for INCAPACITY planning. That's much more important than death in your situation. Find a private professional fiduciary that you like (pfac-pro.org in California) and name them as trustee. Name a charity or community foundation as beneficiary. Don't be cheap here. This is about YOUR inca...
by LarryAllen
Mon Aug 14, 2017 8:20 am
Forum: Personal Finance (Not Investing)
Topic: buying a rental property vs investing more in stocks
Replies: 26
Views: 2771

Re: buying a rental property vs investing more in stocks

OP lives in NorCal. He'd lose a ton of money on management fees. Long-distance landlording never works out. Huh. Has worked out great for my family for over 20 years so it seems like until you actually do it you shouldn't be a naysayer, eh!? What percent of your gross rent goes to management fees? ...
by LarryAllen
Mon Aug 14, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Beneficiaries vs wills
Replies: 9
Views: 1189

Re: Beneficiaries vs wills

Get a trust so you have both death AND incapacity planning covered. It's simple. Don't overthink it.
by LarryAllen
Sun Aug 13, 2017 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3891

Re: Do I really need a trust?

I am a California lawyer, and even though it kills me that I can't get someone to do it for me for free, I just pay for my will and trust. Seen too many car crashes with diy in this area. Just to clarify, I don't think $3200 is too much to pay for a robust and meaningful estate plan. My concern is ...
by LarryAllen
Sat Aug 12, 2017 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 6530

Re: How does personal wealth affect job hunting?

Yes, totally changed over the years as my wealth has increased. I turn away all low paying projects and high maintenance people. Life is too short. I work non-rush hours so my commute is minimal. No more going home at 5:30/6:00. 4:00 at the latest now! Try to leave at 2 or 3 now. No appointments on ...
by LarryAllen
Sat Aug 12, 2017 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: buying a rental property vs investing more in stocks
Replies: 26
Views: 2771

Re: buying a rental property vs investing more in stocks

I would buy 3 rental properties in nice neighborhood in Memphis, KC, Indy, etc.... Gross rents will be about $3,300 a month. The great thing about diversifying on days when the stock market is down you at least know some of your assets aren't changing in value that day. OP lives in NorCal. He'd los...
by LarryAllen
Sat Aug 12, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: buying a rental property vs investing more in stocks
Replies: 26
Views: 2771

Re: buying a rental property vs investing more in stocks

I would buy 3 rental properties in nice neighborhood in Memphis, KC, Indy, etc.... Gross rents will be about $3,300 a month. The great thing about diversifying on days when the stock market is down you at least know some of your assets aren't changing in value that day. OP lives in NorCal. He'd los...
by LarryAllen
Sat Aug 12, 2017 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: buying a rental property vs investing more in stocks
Replies: 26
Views: 2771

Re: buying a rental property vs investing more in stocks

I would buy 3 rental properties in nice neighborhood in Memphis, KC, Indy, etc.... Gross rents will be about $3,300 a month. The great thing about diversifying on days when the stock market is down you at least know some of your assets aren't changing in value that day.
by LarryAllen
Fri Aug 11, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Feeling guilty about travel expenses
Replies: 25
Views: 3034

Re: Feeling guilty about travel expenses

I'll be the one to say it. 30% of your take home pay of €29000 is too much to spend on travel. Get it over with this year and try to get yourself a little more frugal next year. I tend to agree with this. Don't feel guilty though. Enjoy the last trip but buckle down a bit next year. Just my two cen...
by LarryAllen
Wed Aug 09, 2017 8:30 am
Forum: Investing - Help with Personal Investments
Topic: Investment management for trust
Replies: 4
Views: 424

Re: Investment management for trust

It's generally a bad idea to get too specific in a trust. Pick smart people and give them discretion to make choices. In particular investments change. 30 years ago, for example we had "junk bonds" and today we have "high yield corporate bonds" which are more acceptable investment. Or, 30 years ago ...
by LarryAllen
Tue Aug 08, 2017 10:55 am
Forum: Personal Consumer Issues
Topic: Climate Controlled Storage Units
Replies: 8
Views: 685

Re: Climate Controlled Storage Units

Might be better off getting rid of everything and starting over in three years. Just a thought.
by LarryAllen
Tue Aug 08, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Dealing (psychologically) with variable income
Replies: 15
Views: 1040

Re: Dealing (psychologically) with variable income

I have had 100% variable income for over 20 years. At first it was a bit odd to go from paycheck to who knows what but it works out over time. Occasional valleys but it all works out in the end. It's really cool when you get a huge check (for me occasional $50k+) and not as fun when it's $2k pay per...
by LarryAllen
Mon Aug 07, 2017 9:52 pm
Forum: Personal Consumer Issues
Topic: Las Vegas Slot Machine Strategy (maximize entertainment value)
Replies: 31
Views: 2297

Re: Las Vegas Slot Machine Strategy (maximize entertainment value)

I don't keep up on things but in the old days the dollar slots had significantly better odds than the low money slots. I think penny slots are the worst as they are perceived as so little money. I would go "big" and try the quarter slots next time and maybe, and I stress maybe, the time after that d...
by LarryAllen
Mon Aug 07, 2017 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7773

Re: kids think lazy if retire?

I am in a similar boat and the main reason I go to work is so that my kids know that's what adults do every day. The day the second one goes to college is my planned exit date. Of course if work place stress gets too bad I might call it a day earlier than planned. We shall see....
by LarryAllen
Fri Aug 04, 2017 5:39 pm
Forum: Personal Consumer Issues
Topic: Thanks for Mobile Passport App
Replies: 20
Views: 1591

Re: Thanks for Mobile Passport App

I tried to use at SFO recently and it wasn't working for some reason. :(
by LarryAllen
Thu Aug 03, 2017 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: How far off are Zillow's estimates?
Replies: 82
Views: 7376

Re: How far off are Zillow's estimates?

In one city I am an investor in I have found zillow to be about 15-20% high of actual value consistently. Hopefully nobody uses zillow as the bible anywhere because it is not. Also, for rent estimates I have found rentometer to be better than zillow.
by LarryAllen
Wed Aug 02, 2017 6:10 pm
Forum: Investing - Help with Personal Investments
Topic: Burned out at 28. Do I have enough?
Replies: 62
Views: 9598

Re: Burned out at 28. Do I have enough?

Treat this as an (early) mid-life crisis. - Take a vacation - Have a fling - Buy a red sports car. Then get back to work. +1 Life is long, work sucks, but retiring as a single 28 year old seems laughable to me. Things change. You get married, you have kids, you have more wants in life, etc.... I'd ...
by LarryAllen
Tue Aug 01, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA: if known result, why complete?
Replies: 44
Views: 2620

Re: FAFSA: if known result, why complete?

Why not fill out Fafsa? I know there is a 99.99999999999999% chance we will qualify for nothing but what the heck!? How long does it take to fill out? We are still a few years away.
by LarryAllen
Mon Jul 31, 2017 8:18 pm
Forum: Personal Consumer Issues
Topic: protecting personal information
Replies: 14
Views: 1107

Re: protecting personal information

Buy your next house in the name of a mis-named trust (that is not your name) with someone else (a trusted friend) as trustee. You could have your friend sign off as trustee, after the purchase, but don't record that. Keep house recorded in their name as trustee. Get all your mail at a PO box. Simple.
by LarryAllen
Mon Jul 31, 2017 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Philosophy major and future law student
Replies: 93
Views: 4980

Re: Philosophy major and future law student

Being a lawyer sucks but the education is great... but only if you aren't going into significant debt. If going into significant debt I would probably stay away from law school. WAY too many lawyers out there and a lot of unhappy lawyers. Some make a lot of money but most don't.
by LarryAllen
Sat Jul 29, 2017 9:37 am
Forum: Personal Consumer Issues
Topic: TSA Pre-check for free
Replies: 75
Views: 5548

Re: TSA Pre-check for free

For a few dollars you will always be TSA-pre (for 5 years). That's worth it. Occasionally the lines can get very long. Don't overthink it.
by LarryAllen
Fri Jul 28, 2017 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust Plan Thoughts?
Replies: 56
Views: 4546

Re: Will/Trust Plan Thoughts?

Do continuing trusts for the benes to give creditor protection to them. Staggered distributions is for simpleton planning and really only for small estates (under $500k). You can make your nieces their own trustees, at an appropriate age, but definitely give them the benefits of a continuing trust. ...
by LarryAllen
Thu Jul 27, 2017 8:44 am
Forum: Investing - Theory, News & General
Topic: Crowdfunding real estate?
Replies: 24
Views: 2183

Re: Crowdfunding real estate?

Anybody have any good, or bad, reports from investing in crowdfunding recently? I am very interested in them but trying to do some due dil. After a decent amount of due diligence, I decided not to pursue these investments. Although intriguing, there were a few reasons why I decided against this, 1)...
by LarryAllen
Wed Jul 26, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: Court wants inherited IRA liquidated and put into court blocked account
Replies: 18
Views: 2065

Re: Court wants inherited IRA liquidated and put into court blocked account

I do have group legal that I could utilize, but have not yet other than general questions. I didn't expect to be forced into a bank account when I went in. (forced isnt the right word, he just suggested what I should do). Get an experienced probate court attorney and preferably one with significant...
by LarryAllen
Tue Jul 25, 2017 4:25 pm
Forum: Investing - Theory, News & General
Topic: Crowdfunding real estate?
Replies: 24
Views: 2183

Re: Crowdfunding real estate?

Anybody have any good, or bad, reports from investing in crowdfunding recently? I am very interested in them but trying to do some due dil.
by LarryAllen
Tue Jul 25, 2017 11:05 am
Forum: Investing - Theory, News & General
Topic: John Bogle Has Been Right About Investing In International Stocks
Replies: 505
Views: 31758

Re: John Bogle Has Been Right About Investing In International Stocks

Hindsight can be great to determine who was "right." Lol.
by LarryAllen
Mon Jul 24, 2017 9:22 pm
Forum: Investing - Theory, News & General
Topic: Do you find financial advisors to be all that bright?
Replies: 53
Views: 4937

Re: Do you find financial advisors to be all that bright?

As a lawyer a lot of bottom of the class students are making a ton of money now years after law school. A bunch of top of the class students have ended up working for Judges or the state or other intellectual pursuits. The top of the class students get good jobs initially but a lot of them are fail...
by LarryAllen
Sat Jul 22, 2017 4:37 pm
Forum: Personal Consumer Issues
Topic: Is Amazon Prime worth it?
Replies: 128
Views: 8874

Re: Is Amazon Prime worth it?

We love Amazon Prime but do end up spending too much. Hey it's "free" shipping so let's order more! Their prices are very good. Could I get better if I checked multiple websites? Yes, probably but my time is much more valuable than that. For consistently low prices, fast shipping and excel...
by LarryAllen
Fri Jul 21, 2017 3:42 pm
Forum: Investing - Theory, News & General
Topic: Do you find financial advisors to be all that bright?
Replies: 53
Views: 4937

Re: Do you find financial advisors to be all that bright?

There was a joke floating around when I took the Series 7. The closer you were to the minimum 70% passing score the better you would be as a adviser, as in the more money you would make. If you scored about 90% you were doomed. They are first and foremost salespeople. That's true of a lot of profes...
by LarryAllen
Fri Jul 21, 2017 8:51 am
Forum: Investing - Theory, News & General
Topic: Can real estate investing (actual properties) be relatively "hands off"?
Replies: 50
Views: 5585

Re: Can real estate investing be relatively "hands off"?

I have significant experience with real estate so can speak with some authority. Yes, it can be relatively hands off... but you will have better returns if it's not hands off. It's a choice. Many people put so much time in it is really just a second job. I am in the middle. I have a full time job an...
by LarryAllen
Wed Jul 19, 2017 11:09 am
Forum: Personal Consumer Issues
Topic: Car Wash Pass worth it?
Replies: 15
Views: 942

Re: Car Wash Pass worth it?

My skin crawls when I think what those car wash machines do to the wax on my car and once they eat away the wax what they do to the paint. No muy bueno. Hand wash only for me.
by LarryAllen
Sun Jul 16, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Rent in safer neighborhood or buy in less safe one?
Replies: 67
Views: 4637

Re: Rent in safer neighborhood or buy in less safe one?

Since crime is obviously an issue to you (as it is to me) I would MUCH rather rent in a safer neighborhood. No question.
by LarryAllen
Sat Jul 15, 2017 4:35 am
Forum: Personal Finance (Not Investing)
Topic: PersonalCapital.com help
Replies: 21
Views: 1547

Re: PersonalCapital.com help

rgs92 wrote:Is Personal Capital worthwhile? Someone I know recommended to me but it seems like a lot of work for a level of detail I don't need (unless I was obsessive).


To me it's totally worth it but I might be a touch obsessive so might be worth it to everybody. I love having a quick net worth overview.
by LarryAllen
Thu Jul 13, 2017 12:52 pm
Forum: Personal Consumer Issues
Topic: Hotel tipping: how much to leave?
Replies: 72
Views: 3891

Re: Hotel tipping: how much to leave?

I don't tip, but I leave the room spotless and I strip the bed. Sometimes wish I hadn't when I see the blood and gore on the mattress. I am with you as far as leaving the room as clean as possible. However, you actually strip the bed? Why? Seems unusual to me!? As you say what is seen on the mattre...
by LarryAllen
Thu Jul 13, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: PersonalCapital.com help
Replies: 21
Views: 1547

Re: PersonalCapital.com help

jlcnuke wrote:lol,

According to their Zillow value, my house lost a bit over 10% of it's value since yesterday...


This must be it for me too.

I appreciate all the answers. This website is a wealth of great info.
by LarryAllen
Thu Jul 13, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: PersonalCapital.com help
Replies: 21
Views: 1547

PersonalCapital.com help

For some reason my net worth changed by a noticeable amount since yesterday on personalcapital.com. All the assets seem to be there and I can not see any noted changes in value. Is there a way to see why or how the net worth changed? That is, what assets changed since yesterday? Any expert advice wo...
by LarryAllen
Thu Jul 13, 2017 12:31 am
Forum: Personal Finance (Not Investing)
Topic: Jewelry insurance. Is it ever worth it?
Replies: 35
Views: 3094

Re: Jewelry insurance. Is it ever worth it?

Had a piece of jewelry get lost/stolen and insurance company paid $10k within two weeks. In that case it was a great investment! Bummed to not have the jewel anymore but the check helped sooth the pain of the loss. Curious. Typically, jewelry insurance is a rider on homeowners. Was your claim consi...
by LarryAllen
Thu Jul 13, 2017 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Personal loan to a family member
Replies: 114
Views: 6855

Re: Personal loan to a family member

Don't do it now what's the question? Seriously though been there and done that. Did an interest free loan for a family member. She paid when she wanted (not as we agreed), skipped some months, was not thankful, and in the end I felt like the bad guy for occasionally asking if we were getting paid th...