Search found 312 matches

by miamivice
Wed May 24, 2017 2:11 pm
Forum: Personal Consumer Issues
Topic: Is it worth it spending money to keep your house looking sharp?
Replies: 37
Views: 3358

Re: Is it worth it spending money to keep your house looking sharp?

Thanks all. After thinking about it yesterday, I've decided that it is worth it to me to have a sharp looking house. I will keep my costs down where possible, but spending on the house to have a nice looking house is worthwhile.
by miamivice
Wed May 24, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Arrived at milestone - what should be my next step?
Replies: 12
Views: 838

Re: Arrived at milestone - what should be my next step?

My comments are: Financially, you will do better to hang on to the house debt as long as possible, as a 3.87% rate on a loan (partially tax deductible) is less than the 8% historical average of the stock market. So, I think that taking a long time to pay off your house while putting the savings into...
by miamivice
Tue May 23, 2017 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: Very Close to FI / RE - Allocation Suggestions?
Replies: 23
Views: 1792

Re: Very Close to FI / RE - Allocation Suggestions?

You might find FIRECalc.com to be an interesting website. Based on your numbers, with a $915,000 portfolio and $48,000 per year in expenses, you would make it 40 years 50% of the time. The other 50% of the time you would run out of money. Of course that doesn't include social security. I don't consi...
by miamivice
Tue May 23, 2017 10:45 am
Forum: Investing - Help with Personal Investments
Topic: Starting a 529 with no children on the horizon?
Replies: 15
Views: 919

Re: Starting a 529 with no children on the horizon?

You can. The mechanics of it is that you open the 529 in your name / your social security and then transfer to your kids later. I did that for my kids before they were born but I waited until my wife was pregnant. I did a lot of math calculations to estimate how much I'd need to set aside in Year 0 ...
by miamivice
Tue May 23, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8287

Re: Net worth is overrated

Assets that will never be disposed of are still assets. However, they're not useful assets.

So, I figure them as part of my net worth but not part of my usable net worth.
by miamivice
Tue May 23, 2017 10:21 am
Forum: Investing - Help with Personal Investments
Topic: Very Close to FI / RE - Allocation Suggestions?
Replies: 23
Views: 1792

Re: Very Close to FI / RE - Allocation Suggestions?

The purpose of holding a $1 million portfolio is to pay for nursing home care should that be needed. To me this seems like the wrong strategy. Medicaid also pays for nursing home care, and the OP could always pay for any care with the assets that are transferred now. I'm not very familiar with Medi...
by miamivice
Tue May 23, 2017 9:20 am
Forum: Personal Consumer Issues
Topic: Is it worth it spending money to keep your house looking sharp?
Replies: 37
Views: 3358

Re: Is it worth it spending money to keep your house looking sharp?

I remember when we had our previous house. It was new construction and there were a lot of finishing touches that became the owners responsibility (landscaping, etc). I didn't do them while living there due to budget but did them before we put it on the market so it would sell better. I remember spe...
by miamivice
Tue May 23, 2017 9:02 am
Forum: Personal Consumer Issues
Topic: Is it worth it spending money to keep your house looking sharp?
Replies: 37
Views: 3358

Re: Is it worth it spending money to keep your house looking sharp?

Why do you care what others think? If you care about it, that is all that really matters. I am looking for some other perspectives as to the thought process other folks use in deciding how to spend their money. It really doesn't matter to me what strangers on the internet think, but understanding t...
by miamivice
Tue May 23, 2017 8:50 am
Forum: Personal Consumer Issues
Topic: Is it worth it spending money to keep your house looking sharp?
Replies: 37
Views: 3358

Is it worth it spending money to keep your house looking sharp?

I've just paid for a few big ticket items around the house, and the bills are sitting in front of me. I'm a little bummed at the thought of having to pay for them. I'm just pondering...do you think the money spent to keep a house looking sharp is money well spent? I mean, it seems like there is a wi...
by miamivice
Mon May 22, 2017 5:56 pm
Forum: Investing - Help with Personal Investments
Topic: Very Close to FI / RE - Allocation Suggestions?
Replies: 23
Views: 1792

Re: Very Close to FI / RE - Allocation Suggestions?

My comments are that at a 4% SWR, it doesn't seem like you are quite there. A 4% SWR will provide about $36,000 in income annually which is less than your desired goal of $48,000 a year. And I'm not sure that $36,000 in pretax dollars will be enough to cover your expenses, including big non-recurrin...
by miamivice
Mon May 22, 2017 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: Very Close to FI / RE - Allocation Suggestions?
Replies: 23
Views: 1792

Re: Very Close to FI / RE - Allocation Suggestions?

To answer some of the questions: - Future Inheritance: I'm sole living heir and only beneficiary of my parent, who is nearing 90 yrs old. I'm trustee of the trust. Condo, all possessions, all financial accounts (everything) pass to me upon the death of my parent. Parent's investments are worth just...
by miamivice
Mon May 22, 2017 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Advice: grandparents estate planning issues
Replies: 9
Views: 1231

Re: Advice: grandparents estate planning issues

I'm surprised nobody suggested the most obvious answer. If the family doesn't want the grandparents to lose their house, they can pay for the grandparents care at the assisted living facility, or they can let the grandparents move in with them and provide care at home. I surely understand that nobod...
by miamivice
Sun May 21, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 21
Views: 1251

Re: Auto Insurance Question

I don't think that a good / excellent / decent driving record results in much less risk. I'm personally a terrible driver. I have a hard time remembering to make head checks so I occasionally cut people off and they blare their horn at me. Sometimes I don't see pedestrians crossing the street and ha...
by miamivice
Sun May 21, 2017 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Do you keep extra money available for investing
Replies: 35
Views: 2689

Re: Do you keep extra money available for investing

That's called market timing, which is something Jack Bogle (and hence Bogleheads) do not agree with.

Jack Bogle's advice is to buy a little each month over time (dollar cost averaging) whether the market goes up or down, and in the long run one should come out ahead.
by miamivice
Sun May 21, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Job change--crazy financial move?
Replies: 9
Views: 1232

Re: Job change--crazy financial move?

I think you should choose a life that makes you happy (or mostly happy) but the pay differential is a big deal. Most of the COL (my opinion) difference between two places is housing costs. If you purchase, a HCOL area often has high housing appreciation while LCOL areas often have low housing apprec...
by miamivice
Sun May 21, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Watching elderly family members burn money
Replies: 17
Views: 2468

Re: Watching elderly family members burn money

... and it's often free to sell equipment/household goods directly. I'm curious what free sales channel you would suggest an elderly lady to sell a tractor mower worth ~$22,000? To start with, the seller has to specify a price, and that either costs something or takes a lot of research. Hard work i...
by miamivice
Sun May 21, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Watching elderly family members burn money
Replies: 17
Views: 2468

Re: Watching elderly family members burn money

... and it's often free to sell equipment/household goods directly. I'm curious what free sales channel you would suggest an elderly lady to sell a tractor mower worth ~$22,000? To start with, the seller has to specify a price, and that either costs something or takes a lot of research. Hard work i...
by miamivice
Sun May 21, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Watching elderly family members burn money
Replies: 17
Views: 2468

Re: Watching elderly family members burn money

I don't see how this is actionable.

It's her money and her life. It's her choice on how to sell her possessions, and it's also her choice on what to give to family.

She's completely correct that if you want anything you can come to the auction to buy it.
by miamivice
Sun May 21, 2017 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for paying off a loan
Replies: 13
Views: 946

Re: Suggestions for paying off a loan

One thing that I'll say is the Bogleheads popular notion and I don't align when it comes to maxing out our retirement accounts. From my calculations, I'm not a believer is contributing our maximum ($36,000) to 401ks, as that would result in nearly $50,000 a year accrual in a 401k after company match...
by miamivice
Sat May 20, 2017 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 21
Views: 1251

Re: Auto Insurance Question

Honestly, the mechanics of why an insurance quote is a particular amount is not really an issue. All that matters is how many quotes you get, who is the lowest, and your comfort factor with those who provided quotes.
by miamivice
Sat May 20, 2017 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for paying off a loan
Replies: 13
Views: 946

Re: Suggestions for paying off a loan

You don’t give any details, but you are correct that paying as much extra on the loan as early as possible will save the most interest and time in debt. Just don’t make the mistake of reducing, postponing, or neglecting to contribute up to the max allowed for any available tax-deferred and tax-adva...
by miamivice
Fri May 19, 2017 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for paying off a loan
Replies: 13
Views: 946

Re: Suggestions for paying off a loan

If you bought a boat or an RV and decided that it was not a good decision then you could sell it. Making the purchase is a good decision. I have no regrets about that. I just don't like the loan. I'm trying to cash flow paying off the loan but finding having a 15 year loan to be a bit overwhelming....
by miamivice
Fri May 19, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for paying off a loan
Replies: 13
Views: 946

Suggestions for paying off a loan

Recently, I made a big purchase and took out a loan for the first time ever, except for a primary residence. Now I'm not very thrilled about having a $140,000 debt to my name. I am wondering if anyone here that has experienced debt has suggestions on how to pay it off the fastest. Yes, I understand ...
by miamivice
Thu May 18, 2017 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: Life's big ticket items to save for
Replies: 37
Views: 2788

Re: Life's big ticket items to save for

Opinions are all over the place on this forum regarding paying for kids' college educations. I've argued a lot with people on this forum about college education. What I've found is that most everyone on here pays for their children's college but the disagreement lies in whether to save up for it, c...
by miamivice
Thu May 18, 2017 3:08 pm
Forum: Investing - Help with Personal Investments
Topic: Life's big ticket items to save for
Replies: 37
Views: 2788

Re: Life's big ticket items to save for

I'm 30 and getting married this year, planning to have kids in the next few years, and maybe buy a home if we move out of the SFBA. What are some of the big ticket items I should save for? Wedding expenses we've got figured out. How much do kids cost from delivery to when they're out on their own? ...
by miamivice
Thu May 18, 2017 10:34 am
Forum: Personal Consumer Issues
Topic: Death in family a week before cruise
Replies: 30
Views: 3412

Re: Death in family a week before cruise

Sorry for your impending loss. I would expect a cruise line to be accommodating for the death of an immediate family member (mother, father, daughter, son) but would not expect them to be accommodating for the death of extended family (grandmother in this case, but cousin, aunt, uncle). You can alwa...
by miamivice
Thu May 18, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Funny Letter [Canceling Escrow Account]
Replies: 34
Views: 3948

Re: Funny Letter [Canceling Escrow Account]

Do you guys really care about the difference between 1% and 2% on maybe a $5000 revolving balance? That might be what...oh $25 a year? While I like to maximize my money, I'm really not concerned about $25 or $50 a year in interest. If the spread was more like $500 I would be concerned...but not for ...
by miamivice
Thu May 18, 2017 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Child's Debt Consolidation
Replies: 14
Views: 2011

Re: Child's Debt Consolidation

I just want to point out that the daughter is an adult, and can use credit cards and manage money according to her desires. That's part of the freedom we have in this country. And the daughter isn't asking for advice on here. Some advice like "you don't use a credit card for anything you can't ...
by miamivice
Mon May 15, 2017 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Who really needs an umbrella insurance?
Replies: 38
Views: 4873

Re: Who really needs an umbrella insurance?

No, I stand behind what wrote. Except in unusual cases, auto accidents won't result in garnishing future wages. If the at-fault party can't pay for the damages and wages are garnished, then he/she can simply file for bankruptcy and discharge the debt. You generally can't become indebted for life bec...
by miamivice
Mon May 15, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 11
Views: 744

Re: Auto Insurance Question

There are a few reasons to by uninsured/underinsured insurance: 1) Your own health insurance coverage is not 100%. It has deductibles, co-pays, etc. In addition, it will not pay for certain costs that you may incur in your recovery, i.e., medical travel, home remodeling, lost wages, lost earning cap...
by miamivice
Mon May 15, 2017 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else dial down retirement savings?
Replies: 32
Views: 5046

Re: Anyone else dial down retirement savings?

Yes, I recently cooled my retirement savings rate. My retirement income estimates are showing about 3x what I project our spending to be and I don't see it is purposeful to deny myself things that I would like today just so I can have a larger portfolio in the future.
by miamivice
Mon May 15, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else dial down retirement savings?
Replies: 32
Views: 5046

Re: Anyone else dial down retirement savings?

1. Remember, you can always borrow while you are working - no one will loan you money when you retire so if I were going to "over do it" in one category (current needs v. retirement) I would overdo the savings for retirement. No, this is not true. Retirees can get loans (and often do) jus...
by miamivice
Mon May 15, 2017 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

I guess the advantage with the OPs method is that you can walk away at little cost if you choose to renege on the purchase, depending on what is stated in the contract. We live in a large new-home development. We initially signed a contract contingent on the sale of our home and our ability to obta...
by miamivice
Mon May 15, 2017 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Who really needs an umbrella insurance?
Replies: 38
Views: 4873

Re: Who really needs an umbrella insurance?

For someone who has net worth less than 80K (including retirement accounts), do I really still need umbrella insurance? P.S: I am renting an apartment in a building, so not responsible for any injuries happens anywhere outside my home. Auto liability is already $500K How much human capital do you h...
by miamivice
Mon May 15, 2017 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

I would think you will plenty busy figuring out flooring, cabinets, hardware, fixtures, lighting, paint, etc. Or has all of this already been decided? I'm not sure there are that many legal and financial things to think about at this point. Those are done - and final price has been signed off on. W...
by miamivice
Mon May 15, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Funny Letter [Canceling Escrow Account]
Replies: 34
Views: 3948

Re: Funny Letter [Canceling Escrow Account]

I have chosen not to pursue cancelling escrow, because escrow is convenient and rates are low. They pay my taxes and insurance on my behalf each year and I don't have to worry about paying them. Insurance is simple enough because a guy can do autopay. But taxes are a pain, and if you miss them you o...
by miamivice
Mon May 15, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

The OP isn't doing a construction loan. The builder builds the home using the builder's credit line (or cash, or whatever), and then sells the home to the buyer once it gets finished. Oh, I see. I am new to this process too. Thanks for pointing that out. What is the benefit of using the builder's c...
by miamivice
Mon May 15, 2017 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Contemplating potential real estate purchase
Replies: 4
Views: 349

Re: Contemplating potential real estate purchase

No I'm not going into the property development business. I'm looking to build a house on one of the vacant lots and the other vacant lots are beneficial to provide privacy and allow me to create a more of an "estate" feel to our home.
by miamivice
Mon May 15, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

I am building a home also. We are using a regional bank for our construction loan. We can lock in a rate as soon as we have signed plans and pricing from builder. If the rate goes down before we close, we get the lower rate. Maybe you should shop around and compare options for your loan. The OP isn...
by miamivice
Mon May 15, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

With structural and design center options - the final price is ~ $520K. We cannot lock in rates until 30 days prior to closing which will be sometime in Dec 2017 or Jan 2018. Today's 30 year mortage rate is 4.375% and I believe it maybe around 4.5% - 4.75% when we close. Nobody has any clue what in...
by miamivice
Mon May 15, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Signed contract to build new home - now what?
Replies: 17
Views: 944

Re: Signed contract to build new home - now what?

Your next step is to pick out who your lender will be, and to confirm with the builder when you need to tell them who the lender is, if you are not going through the builders. My past experienced (from 10+ years ago) was that the builder lenders cost more (interest rate and/or fees) but you get a ki...
by miamivice
Mon May 15, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 82
Views: 11934

Re: Regret early retirement/downsizing

I'm not sure if the topic has drifted or not, but to answer the OP: I do know one person who retired from a good job in federal law enforcement. He got bored apparently because the next time I saw him he was working at Target as the security guy who stands at the front of the store to make sure peop...
by miamivice
Mon May 15, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Contemplating potential real estate purchase
Replies: 4
Views: 349

Contemplating potential real estate purchase

I'm contemplating making a real estate purchase. Wanted to feel out what the Boglehead comments might be. Basically, own a couple of adjoining vacant lots that I recent purchased. I'm contemplating purchasing a third empty and adjacent lot for $225k. Right now, my assets include: [redacted for priva...
by miamivice
Thu Mar 23, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 2178

Re: Pretirement

By pretirment, I am a referring to a person partially exiting the workforce but not fully. They might pursue a lower paying job that brings more personal satisfaction, work fewer hours, or live in a locale that is more desirable but offers less wages. In other words, earn less money in the pursuit o...
by miamivice
Thu Mar 23, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 2178

Pretirement

Has anyone done a pretirement prior to retirement? I am considering pretiring in maybe 5 years or so, but would like to hear others experiences.
by miamivice
Sun Mar 12, 2017 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Are you concerned that your bankers do not use 2 factor authenication?
Replies: 6
Views: 720

Are you concerned that your bankers do not use 2 factor authenication?

I recently popped in a bank branch here in Miami to do some transactions. Normally I do everything online but this item I had to do in person. While I was sitting at the bankers desk, he made a comment that he needed to change his password, and clicked away at his computer. I then realized that thei...
by miamivice
Thu Mar 02, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: What are my options for reducing risk?
Replies: 7
Views: 495

Re: What are my options for reducing risk?

I just took a look and see 5 year CDs are 2.17%. I'm not close enough to my goal that I can do the project if I only get 2.17% ROI over the next 5 years. I really need about 6% or higher ROI.

I guess I'm in a predicament and have some thinking to do.
by miamivice
Thu Mar 02, 2017 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: What are my options for reducing risk?
Replies: 7
Views: 495

What are my options for reducing risk?

What are my options for reducing risk while still maintaining reasonable ROI?
by miamivice
Thu Feb 16, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need an agent to buy a home?
Replies: 18
Views: 1379

Re: Do we need an agent to buy a home?

I believe that if you are buying a MLS-listed house, you need someone to fill the role of the buyer's agent. If you do not have one of your own, the seller's agent will become a dual agent and keep all of the commission.

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