Search found 205 matches

by muddlehead
Fri Nov 30, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand "Payout Rate" for an Annuity
Replies: 58
Views: 3237

Re: Help me understand "Payout Rate" for an Annuity

Boy, am I missing something here? You're giving them 500k. There paying you 43k a year on this money. At the end of 15 years, they will have paid you (or your heirs) 645k. You're making 145k on 500k over 15 years. That's $9600 per year. That's, to be kind, not a good deal for you.
by muddlehead
Wed Nov 28, 2018 7:43 pm
Forum: Personal Consumer Issues
Topic: Electricity bill should be 7% per month of home sq footage.
Replies: 66
Views: 3887

Re: Electricity bill should be 7% per month of home sq footage.

Northern California checking in. 3000 sq ft one story. Woo hoo. Less than 7% last year. PGE bill was $151 p/m.
by muddlehead
Fri Sep 28, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: auto insurance - ??
Replies: 11
Views: 1059

Re: auto insurance - ??

Shell, had to go through your posts to see where you live. San Diego. Good on you. Thought it might be where we are, Norcal, since you mentioned fires … Our AAA auto insurance went up so much this year that after 30 years with them, switching to Geico which is 50% less than AAA. We'll see how it goes.
by muddlehead
Wed Sep 05, 2018 12:04 pm
Forum: Personal Consumer Issues
Topic: Neighbor Fencing question
Replies: 50
Views: 4097

Re: Neighbor Fencing question

Wow. Can't believe some of the responses. Of course, without a doubt, you split 50/50 the cost of a property line fence. Of course, without a doubt, if your neighbor's tree is causing a problem with the fence that needs to be fixed, take that into consideration when sharing costs. This ain't hard pe...
by muddlehead
Sun Aug 05, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: What prevents residential real estate buyers from colluding to bring down prices?
Replies: 32
Views: 2734

Re: What prevents residential real estate buyers from colluding to bring down prices?

*** What stops potential buyers from finding each other and agreeing not to bid against each other, with the designated buyer paying the other potential buyers a small fee for waiting? ***

You're kidding, right?
by muddlehead
Sun Jul 08, 2018 11:41 pm
Forum: Investing - Theory, News & General
Topic: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"
Replies: 58
Views: 7195

Re: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"

Gosh. If we've learned one thing from being on the planet and paying a modicum of attention the past 40 years or so, it is this. These types of articles are fun to read and talk about. Period. Don't base huge life decisions on the conclusions within.
by muddlehead
Sun Jul 08, 2018 11:03 pm
Forum: Personal Consumer Issues
Topic: New ladies bike: recommendations
Replies: 17
Views: 1213

Re: New ladies bike: recommendations

6ft 3in 210 lbs male. Once a week 10 miles rider. Know zero about bikes. Paid $350 or so for a Schwinn Voyageur 2 XL. Looks, feels, and rides like the hefty machine I want. It's a hybrid, they tell me because it can go on roads and medium type trails. Perfect. 100% recommend it for you.
by muddlehead
Thu Jun 28, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Purchase disabled sister's house
Replies: 18
Views: 1182

Re: Purchase disabled sister's house

Why don't you have your parents give her the money to buy the house. Stays in her name. No more mortgage. Early inheritance gift. Easy Peasy.
by muddlehead
Thu May 31, 2018 8:21 pm
Forum: Personal Consumer Issues
Topic: Book Recommendation Wanted
Replies: 15
Views: 1424

Re: Book Recommendation Wanted

I'm in the back off camp. Even if they asked for assistance, what really is there to say? Reminded of another "pauper" leaving millions behind at death. It was about a month ago. 96 yr old New York woman lived as frugally as possible. Employed as a secretary, IIRC. All her money went into the stock ...
by muddlehead
Mon Apr 23, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Payoff Questions
Replies: 11
Views: 1951

Re: Mortgage Payoff Questions

Why take a chance on the process? If I were you, I'd get a human on the phone, not even an e/m in this case, tell 'em what you want to do, and go from there. I'm thinking this a rather important payment you're going to make ...
by muddlehead
Sat Apr 21, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: How much can mom spend on a house?
Replies: 11
Views: 2102

Re: How much can mom spend on a house?

Interesting question / scenario. Agree that as healthy as she appears now at 77, can change in an instant. I'd have no trouble paying the 400k. She'd still have about 100k taxable, 74k roth, 146k ira, 65k 403b = 385k in financial assets. (35/65 a little aggressive for me. But, worked awfully well pa...
by muddlehead
Thu Dec 14, 2017 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Wow. Just Wow.
Replies: 29
Views: 5526

Re: Wow. Just Wow.

** Was it based on readers voting? **
Good question.
"Our readers nominate and vote for their favorite businesses, venues ..."
by muddlehead
Thu Dec 14, 2017 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Wow. Just Wow.
Replies: 29
Views: 5526

Wow. Just Wow.

I don't want to get too specific. I live in a city of 175,000 people. Our county has almost 500,000. Not super podunky. The main city/county newspaper recently published its "Best of County" awards in many categories. Best burger, best garden store ... I'm sure your paper has something very similar....
by muddlehead
Sun Dec 10, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Can This be Part of an Estate Planning?
Replies: 7
Views: 1157

Re: Can This be Part of an Estate Planning?

" " What are the flaws in it? " "
Flaws? How's about someone here give me 1 benefit of this "plan".
by muddlehead
Fri Dec 01, 2017 11:36 am
Forum: Personal Consumer Issues
Topic: Safes
Replies: 31
Views: 2588

Re: Safes

I live in Santa Rosa CA. You might have heard about the fires. This video was made by a friend of a friend. I am in no way endorsing the product. 100% neutral. But, pertinent to the topic.
https://www.youtube.com/watch?v=djMbt7gr8rA
by muddlehead
Tue Nov 28, 2017 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning question (should we add beneficiaries to savings account?)
Replies: 33
Views: 2448

Re: Estate planning question (should we add beneficiaries to savings account?)

Didn't read every word of the answers. These things can get sidetracked... Yes to OP. Add beneficiaries to savings account ASAP.
by muddlehead
Tue Nov 07, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity Alternative
Replies: 54
Views: 3263

Re: Annuity Alternative

You're kidding, right?
by muddlehead
Fri Sep 08, 2017 7:04 pm
Forum: Personal Consumer Issues
Topic: Places to see in Chicago
Replies: 45
Views: 4255

Re: Places to see in Chicago

If you're the urban walking type like me -A few years ago, had a wonderful, memorable walk along the waterfront from CBOE Lasalle St area to Wrigley.
by muddlehead
Sat Jul 29, 2017 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Advisor/Retirement Planning - Conventional Wisdom?
Replies: 16
Views: 2085

Re: Financial Advisor/Retirement Planning - Conventional Wisdom?

Why would you think a **recommended financial advisor** would know anything close to what the collective wisdom on this here board can impart?
by muddlehead
Sun Jun 18, 2017 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Investments for Mother, windfall
Replies: 9
Views: 1877

Re: Investments for Mother, windfall

Had a single Mom in very similar circumstances and age 30 years ago. Easy peasy resolution. Your Mom has 600k cash, $5500 p/m pension, her own job, 20k in taxable acct, 200k in IRA. She owes 180k mortgage. If it were me, I'd pay off the mortgage reducing cash to 420k. Find out how many years more sh...
by muddlehead
Wed May 24, 2017 9:35 am
Forum: Investing - Theory, News & General
Topic: Bernie Madoff Revisited 8 Years Later
Replies: 1
Views: 680

Bernie Madoff Revisited 8 Years Later

No, I haven't seen either of the 2 recent movies. One with De Niro and the other with Dreyfuss. Not a discussion of those. Since collectively, we are the smartest financial-stuff group on the web, here are my 2 questions. We think Bernie took in 20 billion dollars. Almost 10 billion was recovered / ...
by muddlehead
Fri May 19, 2017 3:54 pm
Forum: Personal Consumer Issues
Topic: Neighbor draining onto / flooding my patio and yard daily - what can I do?
Replies: 59
Views: 7632

Re: Neighbor draining onto / flooding my patio and yard daily - what can I do?

Interesting situation. Pics are useful. Short of cutting into the concrete / french drain / etc ... How's about something like slender long sand bags / tubes. Thinking of the shape of front door draft stoppers I've seen advertised. Or swimming pool noodles.
by muddlehead
Mon May 08, 2017 7:13 pm
Forum: Investing - Help with Personal Investments
Topic: Retire Early?? Need a sense check
Replies: 42
Views: 9964

Re: Retire Early?? Need a sense check

******* Post by Watty » Mon muddlehead wrote: If you put the entire amount in a bag in your closet you could spend 93k per year and it would last 30 years till you're 85... Read this post again.******* Thank you Watty. At least some one listens to me. Re: Social Security. For my planning, I think of...
by muddlehead
Sun May 07, 2017 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: Retire Early?? Need a sense check
Replies: 42
Views: 9964

Re: Retire Early?? Need a sense check

You have 2.8 mill. Wife and I retired at a little younger than you with 3.1 mill. at Schwab a few years ago. And, we're leaving 2 mill for 2 sons at death we hope. House will be at least a mill. ! mill in cash. You have the whole 2.8 mill to work with. You have no worries. If you put the entire amou...
by muddlehead
Wed May 03, 2017 7:11 pm
Forum: Personal Consumer Issues
Topic: Buying a "share" of a house
Replies: 47
Views: 4270

Re: Buying a "share" of a house

3 comments. 1) Don't know if you were stating a hypothetical when you said "let's say house is worth 125k". What is the house worth? Can't be 125k. 2)Won't the house be inherited equally by you three siblings when your parents pass? 3) In short, what you're proposing doesn't seem right ...
by muddlehead
Fri Mar 24, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Capital Gains on real estate?
Replies: 9
Views: 989

Re: Capital Gains on real estate?

Do the best you can estimating improvements since 1971. Should be no problem coming up with 200k worth of improvements in 46 years - as long as the improvements are logical and reasonable. Remodeling the bathrooms, remodeling / updating the kitchen, remodeling the master bedroom, updating wiring and...
by muddlehead
Sat Mar 04, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Poor Aging couple financing
Replies: 19
Views: 2942

Re: Poor Aging couple financing

A lot of unhelpful responses so far. Cutting to the chase. IRA's are appropriate if you have money left over after meeting your living expenses. You and your husband are not in that situation. It would be as if friends recommended you and your husband buy a timeshare or save for expensive vacation. ...
by muddlehead
Fri Feb 17, 2017 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to set up small account for incidentals after Mom passes away?
Replies: 19
Views: 2155

Re: Best way to set up small account for incidentals after Mom passes away?

Way too much overthinking here. Take 15k from Mom's savings account. Put it into new checking joint account with you and your sister. Mom dies. Money from there pays for incidentals. Leftovers divided by 5. If government comes after the 15k via clawback etc... , so be it.
by muddlehead
Wed Feb 08, 2017 11:58 pm
Forum: Personal Consumer Issues
Topic: Napa/Sonoma Recommendations
Replies: 46
Views: 4151

Re: Napa/Sonoma Recommendations

30 year Santa Rosa resident. Bump this question in the summer of 2019. See you then. Heck, California might be its own country by then ...
by muddlehead
Thu Feb 02, 2017 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Small Company SIMPLE IRA Plan
Replies: 9
Views: 1103

Re: Small Company SIMPLE IRA Plan

Great. Thanks all. Schwab is the broker. Seems like this could work.
by muddlehead
Thu Feb 02, 2017 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Small Company SIMPLE IRA Plan
Replies: 9
Views: 1103

Small Company SIMPLE IRA Plan

Do any of you own a small company and with a SIMPLE IRA plan for you and the employees? My son co-owns a moving and storage company with 10 employees, and growing. He wants to start a retirement plan - for himself and the employees, if they want to partake. I went with him to meet my broker.It was d...
by muddlehead
Mon Jan 16, 2017 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: How best to proceed with IRA with estate as beneficiary
Replies: 14
Views: 1265

Re: How best to proceed with IRA with estate as beneficiary

This one's easy. 500k divided by 4 is 125k apiece for the 4 of you. Of course, I'm assuming equal shares. You want to open an inherited IRA account into which your portion, 125k will be transferred. When you take money out of this inherited IRA account it is taxed as ordinary income to be added to y...
by muddlehead
Thu Dec 29, 2016 8:13 pm
Forum: Personal Consumer Issues
Topic: Music : Help me with songs for this CD
Replies: 1
Views: 429

Music : Help me with songs for this CD

You'll see the theme / trend. Spirit in the Sky, Something in the Air, Ride Captain Ride, American Woman, Crimson & Clover. Your turn...
by muddlehead
Sun Dec 25, 2016 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Gift money form to help child buy a house.
Replies: 9
Views: 1286

Re: Gift money form to help child buy a house.

I gifted my son and daughter-in-law a sizable down payment for their first home 8 months ago. The letter you are referring to is the bank's assurance from you that the money is a 100% gift. From their standpoint, if the money had to be repaid, it would be like a second mortgage - negatively impactin...
by muddlehead
Fri Nov 11, 2016 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Pay On Death and Beneficiary Questions
Replies: 11
Views: 2129

Re: Pay On Death and Beneficiary Questions

I would contact the bank by voice telephone or make a person to person visit if possible to double check filling out beneficiary forms on-line is 100% OK.
by muddlehead
Thu Oct 27, 2016 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Probate Frustrations: Father's Penny Stock
Replies: 14
Views: 2427

Re: Probate Frustrations: Father's Penny Stock

Interesting situation. Estate is worth $650k. The fact the penny stock was "supposedly worth" $1.7 mill at one point is meaningless. I doubt very, very much it could ever have been liquidated at anything near that amount. However, it is not difficult for a brokerage firm to look back 2 years and see...
by muddlehead
Sat Oct 22, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to co-own and co-occupy home with in laws
Replies: 34
Views: 4096

Re: How to co-own and co-occupy home with in laws

****Affordability is not an issue. Assuming they can pay for the entire remodel. What do you suggest the arrangement is? They pay for the remodel and what do they get in return?***** They get to live next to relatives who I presume they like. They have medical issues. They get to live next to relati...
by muddlehead
Sat Oct 22, 2016 12:07 pm
Forum: Investing - Theory, News & General
Topic: Complete this sentence
Replies: 17
Views: 1864

Re: Complete this sentence

are sleeping like a log.
by muddlehead
Sat Oct 22, 2016 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to co-own and co-occupy home with in laws
Replies: 34
Views: 4096

Re: How to co-own and co-occupy home with in laws

Can't believe the long answers. Overthinking. This one's a no brainer. If your in-laws can afford to pay for the remodel. Done. If not, you pay for it. If your in-laws can afford to pay rent. Done. If not, ... Am I missing something?
by muddlehead
Wed Oct 19, 2016 6:10 pm
Forum: Personal Consumer Issues
Topic: Interstate movers
Replies: 17
Views: 1668

Re: Inter state movers

Wow. Cool praise for Arpin. Usually no one has ever heard of them. My son owns a moving company in Marin/Sonoma Counties - Northern California. They are affiliated with Arpin.
by muddlehead
Sun Sep 18, 2016 10:12 pm
Forum: Personal Consumer Issues
Topic: Best Time to Trade Older Mini for New One
Replies: 1
Views: 388

Best Time to Trade Older Mini for New One

We have a 3 1/4 yr old Mini Clubman 3 door 30,000 miles. Trading it in for a new same model 4 door. Would like to do the deal any time before the new year. Any suggestions on best day/time to do this?
by muddlehead
Thu Aug 18, 2016 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: California AB 319 Revocable Transfer on Death Deed
Replies: 1
Views: 301

California AB 319 Revocable Transfer on Death Deed

Thanks to a fellow BH'er, just found out we Californians can put a TOD / POD to heirs on our house, just like our brokerage and bank accounts. No need for trust anymore. The law took effect Jan 1, 2016. Has anyone done this? Do I have to wait till mortgage paid off?
by muddlehead
Mon Aug 15, 2016 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Trust vs TOD on estate
Replies: 10
Views: 1523

Re: Revocable Trust vs TOD on estate

We have pod/tod for financial assets. Under all fed estate limits. 2 sons. 50-50 split. Easy peasy. Am I right in thinking I'll need a trust, because pod/tod won't work, to pass house to them? State of California.
by muddlehead
Tue Jul 26, 2016 6:42 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for 60+ year old
Replies: 12
Views: 2108

Re: Advice for 60+ year old

Lets say she nets 150k from home sale. She then will have 300k savings. 30k per year pension. 61 years old. Not a lot of wiggle room in this scenario. You don't say where/how she will be living. That could eat up a large chunk of the annual 30k. Hopefully housing is free, or, close to it.
by muddlehead
Thu Jul 07, 2016 7:00 pm
Forum: Personal Consumer Issues
Topic: One day in Seattle. Where to stay?
Replies: 19
Views: 2079

Re: One day in Seattle. Where to stay?

Our last trip to Seattle, we stayed at the Loyal Inn 8th Ave and Denny Way. Walking distance to everything in downtown area. Will stay there again next time in Seattle.
by muddlehead
Thu Jun 30, 2016 11:15 am
Forum: Investing - Theory, News & General
Topic: Is options trading ever a good idea for retirees?
Replies: 16
Views: 1752

Re: Is options trading ever a good idea for retirees?

Misconception clarification. No risk in selling covered calls on stocks you are going to hold anyway. Only a limitation on upside share price gain.
by muddlehead
Wed Jun 29, 2016 8:02 pm
Forum: Investing - Theory, News & General
Topic: Is options trading ever a good idea for retirees?
Replies: 16
Views: 1752

Re: Is options trading ever a good idea for retirees?

Well, let's start with this. The only way to generate income with options is to sell calls or puts - most likely in this case on individual stocks. (could generate income with credit spreads, but, that ain't happening in this retiree situation) Selling naked puts to acquire stocks at a lower price i...
by muddlehead
Sat Jun 04, 2016 6:28 pm
Forum: Investing - Help with Personal Investments
Topic: need help with Mothers portfolio
Replies: 5
Views: 752

Re: need help with Mothers portfolio

If it was my 89 year old mom, I'd have it all (100%) in risk free, but ridiculously low paying - about 1% for a 3-2-1 yr ladder - in CD's at a brokerage firm. However, your mom might not go for that. And, it is her choice.
by muddlehead
Thu May 19, 2016 7:59 pm
Forum: Personal Consumer Issues
Topic: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans? (Update, Pg 3)
Replies: 123
Views: 16176

Re: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans?

To onion / OP. What you're doing is what you should be doing. Your Mom needs a home. Welcome her into yours. No other option. She brings income of $1500 per month so she shouldn't be a financial burden. If the house needs an addition because it's too small for another adult, take her $15k and have y...
by muddlehead
Mon May 09, 2016 9:39 am
Forum: Personal Consumer Issues
Topic: Buying a house for an adult child (child adult?)
Replies: 94
Views: 10849

Re: Buying a house for an adult child (child adult?)

I'd say go for it. Worst case. House needs to be sold because they can't afford rent, or property taxes, or home insurance, or upkeep etc ... Wasn't your 20% down payment anyway. You might lose a little money in the whole scenario. That's what parents are for. Good luck to your son and d-i-l.