Search found 547 matches

by plannerman
Sun Jul 24, 2016 4:47 am
Forum: Personal Finance (Not Investing)
Topic: HELOC Deal.. Is it good?
Replies: 3
Views: 485

Re: HELOC Deal.. Is it good?

Just be aware of the "fine print" in the contract. It's not unusual to find that if you don't use it you may have to repay some of the closing costs.

plannerman
by plannerman
Sat Jul 23, 2016 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Daring to figure it out for myself -- To Roth or Not to Roth and defusing the RMD tax bomb
Replies: 27
Views: 3078

Re: Daring to figure it out for myself -- To Roth or Not to Roth and defusing the RMD tax bomb

Also need to keep eye on projected AGI for the year to avoid getting just over threshold into next Medicare IRMAA bracket... +1 When deciding how much to convert to a Roth IRA prior to starting RMDs, be mindful of all the implications of a higher AGI including, in addition to the IRMAA. items such ...
by plannerman
Thu Jul 21, 2016 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Help With Picking Job Title at Startup
Replies: 33
Views: 2113

Re: Help With Picking Job Title at Startup

How about "Managing Director"
by plannerman
Mon Jul 11, 2016 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Real career path for a 23 yr old with no college degree
Replies: 50
Views: 5071

Re: Real career path for a 23 yr old with no college degree

Sounds a lot like our son. He struggled at school, but managed to graduate HS. He went on to a two-year vocational school and worked in construction for while. He didn't have good fine-motor skills and couldn't read blueprints very well, so he ended up as the crew gofer and site clean up person. But...
by plannerman
Wed Jul 06, 2016 7:33 am
Forum: Personal Consumer Issues
Topic: Experience with AT&T U-verse?
Replies: 19
Views: 1517

Re: Experience with AT&T U-verse?

We recently switched from AT&T POTS plus DSL to ATT U-verse VOIP plus Internet. Because we are about 1-mile from the fiber termination, the highest speed I could get was 3 mbs--the same as we had with DSL. The biggest difference is the price is about half of what we were paying before. I can't t...
by plannerman
Mon Jul 04, 2016 5:43 pm
Forum: Personal Consumer Issues
Topic: Your Favorite Factory Tours?
Replies: 70
Views: 4407

Re: Your Favorite Factory Tours?

Sierra Nevada brewery in Asheville NC
BMW assembly plant in Greer SC
The NY Stock Exchange--back in the day when it was relevant.
by plannerman
Sun Jun 19, 2016 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their owners title insurance?
Replies: 13
Views: 1648

Re: Who has needed to use their owners title insurance?

I recently applied for a home equity line of credit. When the bank did a title search, they found an unsatisfied lean against the previous owner of the property. Because I had owner's title insurance, the HELOC bank was willing to grant the line of credit notwithstanding the unsatisfied lean. Who w...
by plannerman
Sun Jun 19, 2016 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their owners title insurance?
Replies: 13
Views: 1648

Re: Who has needed to use their owners title insurance?

OK, I am going to be a little pedantic here, in the interests of general education: the legal term concerning a possession of property obligation is spelled "lien", not "lean". Especially since I made the same error over 30 years ago when first learning about title insurance. Th...
by plannerman
Sat Jun 18, 2016 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their owners title insurance?
Replies: 13
Views: 1648

Re: Who has needed to use their owners title insurance?

I recently applied for a home equity line of credit. When the bank did a title search, they found an unsatisfied lean against the previous owner of the property. Because I had owner's title insurance, the HELOC bank was willing to grant the line of credit notwithstanding the unsatisfied lean. Who wo...
by plannerman
Sat Jun 18, 2016 8:04 am
Forum: Personal Consumer Issues
Topic: Good place to buy new washer dryer
Replies: 26
Views: 1889

Re: Good place to buy new washer dryer

An appliance store. Which is a better option Sears, Lowes, Home depot? Possibly your local mom and pop appliance store may be a better choice from the service aspect. Their prices will probably be higher than the big box stores, but they may be more willing to go the extra mile for your business. T...
by plannerman
Sat Jun 18, 2016 7:01 am
Forum: Personal Consumer Issues
Topic: Aetna Home Medical Assessment
Replies: 9
Views: 699

Re: Aetna Home Medical Assessment

It's my understanding that health insurance companies must spend something like 89% of their premium revenues on actual health care expenses or refund (through lower premiums) the excess amount. They would rather spend this excess on services than refund it. Thus this kind of offer. I had a similar ...
by plannerman
Mon Jun 13, 2016 3:07 pm
Forum: Personal Consumer Issues
Topic: The Most and Least Expensive Cars to Maintain
Replies: 40
Views: 4242

Re: The Most and Least Expensive Cars to Maintain

The brand that surprised me the most was Subaru--particularly given the cult following here. I would have expected it to be much better than average.

plannerman
by plannerman
Fri Jun 10, 2016 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Moving to Less Expensive House, Should We Use a Bridge Loan?
Replies: 5
Views: 860

Re: Moving to Less Expensive House, Should We Use a Bridge Loan?

You should consider a "Home Equity Line of Credit". You generally need to apply for these before you put your house on the market. You can get a line of credit from most any bank bank for up to 90% of the equity in your house. Then when you buy the second house, you can draw on the line of...
by plannerman
Mon Jun 06, 2016 7:47 am
Forum: Investing - Theory, News & General
Topic: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]
Replies: 263
Views: 28201

Re: Prime Harvesting anyone?

The first question you need to ask yourself is if maximizing portfolio withdrawals in retirement the right strategy for you. It seems to me that this strategy is most appropriate for those who are just on the edge having "enough" financial assets to retire on. Those that have more than &qu...
by plannerman
Sun Jun 05, 2016 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Looking for good home insurance
Replies: 16
Views: 1445

Re: Looking for good home insurance

Beware of the "replacement cost" scam. I have been insured with Amica for 16 years and never had a homeowners insurance claim. My rates have more than doubled recently. Amica, and I presume most other insurance companies, have some secret algorithm to calculate replacement cost. The repla...
by plannerman
Sat Jun 04, 2016 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Looking for good home insurance
Replies: 16
Views: 1445

Re: Looking for good home insurance

Beware of the "replacement cost" scam. I have been insured with Amica for 16 years and never had a homeowners insurance claim. My rates have more than doubled recently. Amica, and I presume most other insurance companies, have some secret algorithm to calculate replacement cost. The replac...
by plannerman
Fri Jun 03, 2016 7:01 pm
Forum: Investing - Theory, News & General
Topic: Recession hitting within next twelve months...
Replies: 31
Views: 4555

Re: Recession hitting within next twelve months...

If I have counted correctly, there have been 12 recessions since the end of the great depression in 1933. That's 1 on average about every 7 years. So I would say Vanguard's forecast of a 10% chance is reasonably optimistic.

plannerman
by plannerman
Mon May 23, 2016 11:15 am
Forum: Personal Consumer Issues
Topic: Painting House Interior - How easy to do it yourself?
Replies: 101
Views: 6053

Re: Painting House Interior - How easy to do it yourself?

There are only a couple of things that haven't been mentioned. One. learn the correct way to hold a paint brush. You do not hold it like you are shaking hands, you hold the wide part just above the bristles between your thumb and fingers. This http://www.truevalue.com//catalog/product.jsp?productId=...
by plannerman
Fri May 20, 2016 8:24 am
Forum: Personal Consumer Issues
Topic: series/ movies filmed in your home town?
Replies: 87
Views: 3226

Re: series/ movies filmed in your home town?

- have you noticed your town or city being used for filming? Which shows? - is it honestly attributed or do you stand in for somewhere else? - is the industry significant to your home town's economy, and to you personally? - any investment thesis one could create out of that? -Dirty Dancing, Last o...
by plannerman
Thu Apr 28, 2016 5:53 am
Forum: Personal Finance (Not Investing)
Topic: End of life situation and handling IRA
Replies: 24
Views: 2312

Re: End of life situation and handling IRA

I most states, your mother is entitled to an "Elective Share" of the estate regardless of what the will says...see here https://en.wikipedia.org/wiki/Elective_share

plannerman
by plannerman
Mon Apr 25, 2016 5:13 am
Forum: Investing - Theory, News & General
Topic: If I think the market floor is much lower than the ceiling is high...
Replies: 16
Views: 1652

Re: If I think the market floor is much lower than the ceiling is high...

If you are that confident, just sell your equity positions short.

plannerman
by plannerman
Sun Apr 24, 2016 5:47 am
Forum: Personal Finance (Not Investing)
Topic: Social Security question
Replies: 9
Views: 987

Re: Social Security question

I believe there is an exception to the "one-year duration of marriage" rule that applies in this case. Here's the applicable rule from the SS Program Operations Manual System (POMS) RS 00202.001 Spouse "... In addition to meeting the relationship requirements above, a claimant must ei...
by plannerman
Tue Apr 19, 2016 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Framework for thinking about auto loan?
Replies: 14
Views: 981

Re: Framework for thinking about auto loan?

OP, In my case, the car dealer paid me $750 to take a 3 years 10K car loan @ 1.9%. I could pay off the car loan after 6 months if I want to. Why would I want to pay cash? KlangFool My dealer told me the same thing, but I read the contract and there was no such prepayment restriction. I paid it off ...
by plannerman
Mon Apr 11, 2016 7:18 am
Forum: Personal Consumer Issues
Topic: Looking to buy a decent Windows laptop ...
Replies: 17
Views: 1988

Re: Looking to buy a decent Windows laptop ...

This outfit https://www.discountelectronics.com/ sells off-lease computers at very reasonable prices. I have bought 2 desktop CPUs and had no issues. You might want to take a look, particularly if you would rather have the Windows 7 OS.

plannerman
by plannerman
Thu Apr 07, 2016 6:55 am
Forum: Investing - Theory, News & General
Topic: Has the inflation risk premium fallen? Is it now negative?
Replies: 22
Views: 2490

Re: Has the inflation risk premium fallen? Is it now negative?

Well apparently insurance companies don't think so. I got a SPIA quote last week and they are still charging substantially more (smaller payout) for an inflation adjusted payout. Moreover. they are charging even more for CPI adjusted income stream than one that is adjusted at 3% per year.

plannerman
by plannerman
Tue Apr 05, 2016 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Business for an Irrevocable Trust?
Replies: 2
Views: 230

Re: Turbo Tax Business for an Irrevocable Trust?

I have used both TurboTax Business and H&R Block Business to do Form 1041s. I have found TurboTax a little easier to use, but H&R Block Business has been about half the cost. I used to find doing trust taxes enormously frustrating because, to me, they seem to be stuck back in the 1950s, when...
by plannerman
Mon Apr 04, 2016 5:59 pm
Forum: Personal Consumer Issues
Topic: Office Phone Cord always bunched up
Replies: 13
Views: 1075

Re: Office Phone Cord always bunched up

If you pick it up with one hand, and then change hands, you are winding it up.

plannerman
by plannerman
Mon Apr 04, 2016 7:46 am
Forum: Personal Finance (Not Investing)
Topic: 50/ can I cross the finish line?
Replies: 51
Views: 7151

Re: 50/ can I cross the finish line?

We have a mortgage at 4.75 with $150k remaining on it.no other debt. Have you considered refinancing your mortgage? I just refinanced to a 15-year at 2.875%, but I noticed the 30 year rates still hovering around 3.5 - 3.625%. Using a mortgage company promoted by Costco, my closing costs were only a...
by plannerman
Mon Mar 28, 2016 8:46 am
Forum: Investing - Theory, News & General
Topic: TIPS Anyone?
Replies: 92
Views: 7830

Re: TIPS Anyone?

I'm retired and drawing from my portfolio. I have 75% of my fixed income allocation in laddered TIPs. At this stage of my life, I care a lot more about "real guaranteed" cash flow than I than I care about return. If I were in the accumulation stage, I doubt I would own any TIPs--either ind...
by plannerman
Sun Mar 27, 2016 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: EIN needed for revocable trust?
Replies: 6
Views: 609

Re: EIN needed for revocable trust?

This sounds a little strange. If the intent is to fund the trust when the second spouse dies, the trust will be an irrevocable trust--which does require a separate EIN. But if that is the case, there is no need to open a trust account now. If the intent is to put your current assets into a trust, wi...
by plannerman
Sat Mar 26, 2016 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: sellers want us to waive financing contingency
Replies: 80
Views: 6816

Re: sellers want us to waive financing contingency

So here's the question. If the new buyer does not agree to the waiver and consequently the deal does not go to contract, will you then agree to it?

plannerman
by plannerman
Fri Mar 25, 2016 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: sellers want us to waive financing contingency
Replies: 80
Views: 6816

Re: sellers want us to waive financing contingency

Counterpoint, as a seller, if a buyer refused to agree to this, I would move on in a heartbeat. My assumption would be that the buyer was so unsure they could obtain financing, they were unwilling to put their money where their mouth is. And if I accepted that contract condition, the house would be...
by plannerman
Fri Mar 25, 2016 10:13 am
Forum: Personal Finance (Not Investing)
Topic: sellers want us to waive financing contingency
Replies: 80
Views: 6816

Re: sellers want us to waive financing contingency

Counterpoint, as a seller, if a buyer refused to agree to this, I would move on in a heartbeat. My assumption would be that the buyer was so unsure they could obtain financing, they were unwilling to put their money where their mouth is. And if I accepted that contract condition, the house would be ...
by plannerman
Mon Mar 21, 2016 9:05 am
Forum: Personal Consumer Issues
Topic: Removing mildew from vinyl siding
Replies: 25
Views: 2215

Re: Removing mildew from vinyl siding

You also might want to try Spray 9. I had previously tried most of the other products listed in this thread to try and clean the black stripes off my white aluminum gutters--with no success. I had purchased a small spray bottle of the Spray 9 to clean the mildew off some soft vinyl chair covers and ...
by plannerman
Sun Mar 20, 2016 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirees - What triggered you to retire?
Replies: 96
Views: 10882

Re: Early Retirees - What triggered you to retire?

Chest pains from working 60-70 hours a week in a high-stress job, working for a boss who couldn't find her xxx with both hands, in a company in a death spiral...I could go on, but you get the idea. As I've said on this forum before, retirement has been the best period of our lives. Retired at age 55...
by plannerman
Mon Mar 14, 2016 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Problem with H&R Block 1041 Trust Return
Replies: 3
Views: 411

Re: Problem with H&R Block 1041 Trust Return

You select RIC from the drop down menu for box 7A on the 1099 D.

plannerman
by plannerman
Fri Mar 11, 2016 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Convert Rollover IRA to Roth IRA?
Replies: 9
Views: 819

Re: Convert Rollover IRA to Roth IRA?

Unfortunately, it is a little more complicated than simply looking at your current vs expected future federal marginal rate. Maybe you currently live in a high tax state like CA and you subsequently move to a no income tax state like FL or TX. That might be a good reason to delay conversion. Then th...
by plannerman
Thu Mar 03, 2016 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Title company fees on real estate transactions
Replies: 6
Views: 399

Re: Title company fees on real estate transactions

Title insurance rates in NC are regulated. When you call for a quote they tell you the rates are set by the insurance commission and they all quote the same rate. I think, however, it's the maximum rate that is set and they choose not to deviate.

plannerman
by plannerman
Thu Mar 03, 2016 10:12 am
Forum: Personal Finance (Not Investing)
Topic: where to find HELOC for "bridge" loan?
Replies: 10
Views: 906

Re: where to find HELOC for "bridge" loan?

We just did a HELOC for the same reason. Our large regional bank limits HELOCs to a maximum of $500,000. To get our line of credit, we had to pay for an appraisal. You need to get the HELOC before putting the house on the market, and I suggest you don't wait until the last minute. The bank found an ...
by plannerman
Sun Feb 28, 2016 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Buy a house at age 75?
Replies: 59
Views: 4381

Re: Buy a house at age 75?

A few years back, my Mom was in a nursing facility. I had the opportunity to chat with more than a few folks in the assisted living wing. Their main gripe was that everything had a dollar sign attached to it. One elderly gent noted that any time he pushed the "help" button in his room, it...
by plannerman
Sat Feb 27, 2016 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Buy a house at age 75?
Replies: 59
Views: 4381

Re: Buy a house at age 75?

I would suggest this is a good time to think through your plans for what you intend to do should either one of you become disabled or die. We are about your age and are in the process of moving into a "cottage" in a Continuing Care Retirement Community. Our move after that will be from the...
by plannerman
Sat Feb 20, 2016 8:59 am
Forum: Personal Consumer Issues
Topic: State Farm Water Damage Claim
Replies: 15
Views: 1828

Re: State Farm Water Damage Claim

A copper pipe sprung a pin hole leak. A plumber temporarily sealed the leak so we still have hot water. A restoration crew is coming out to dry out the drywall. I do not know the total cost estimate at this time. My insurance deductible at State Farm is $1,000. At what point should I consider filin...
by plannerman
Sat Feb 20, 2016 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Selling house - when to give appraisal to RE agent?
Replies: 4
Views: 779

Re: Selling house - when to give appraisal to RE agent?

I just went through this. The one difference is our appraisal was for a HELOC. My realtor told me he didn't want to know the appraisal number upfront because it might influence his analysis. He did ask what the appraisal was after he gave us his suggested listing and selling price. The realtor's sug...
by plannerman
Mon Feb 15, 2016 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Low Income W2 (10K) - Are my assumptions right?
Replies: 8
Views: 640

Re: Low Income W2 (10K) - Are my assumptions right?

Well he could certainly file as "Married filing separately".

There are some refundable credits that could increase his refund. Check out the Earned Income Credit and the American Opportunity Credit for example.

plannerman
by plannerman
Thu Feb 11, 2016 8:02 am
Forum: Personal Consumer Issues
Topic: New Washer - Frontload or HE Top Load
Replies: 48
Views: 4750

Re: New Washer - Frontload or HE Top Load

When we switched from a top loader to a front loader a few years ago, our gas bill dropped by $25 month. I was astounded. I can't speak to the new energy efficient top loaders.

plannerman
by plannerman
Fri Feb 05, 2016 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: What percentage of your expenses are covered by SS and/or pensions
Replies: 84
Views: 6337

Re: Retirees: What percentage of your expenses are covered by SS and/or pensions

When we retired in 1999 our pension (no cola) covered about 50% of our then current expenses. About 20% was covered by part-time self-employment income. Now, 17 years later, our pension and SS combined still cover about half of our expenses. The remainder is from our portfolio.

plannerman
by plannerman
Sun Jan 31, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Help with whole life policy choices
Replies: 13
Views: 1141

Re: Help with whole life policy choices

Raiddinn wrote:I wish my parents would have gotten me such a policy.

Keep it and they will really have something to be thankful for.


I'm sure my kids will be even more grateful that instead of buying whole life insurance, I chose to invest in a well diversified portfolio of low cost mutual funds.

plannerman

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