Search found 4141 matches

by michaeljc70
Tue Jan 22, 2019 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Rent vs Own Assumptions
Replies: 39
Views: 1904

Re: Rent vs Own Assumptions

When you cut out the middleman (landlord in this case), things tend to be less expensive.

You said you assume to be there 15 years. Not many people rent the same place for 15 years. Things change. Landlords sell or die or jack up rents.
by michaeljc70
Mon Jan 21, 2019 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Own Assumptions
Replies: 39
Views: 1904

Re: Rent vs Own Assumptions

michaeljc70, 1) There are folks that are "accidental landlords". 2) They bought the house at substantially below market price. KlangFool Sure. But if they bought at below market, do you think they want to pass that on to tenants? If they are "accidental" that probably means they did an analysis and...
by michaeljc70
Mon Jan 21, 2019 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Own Assumptions
Replies: 39
Views: 1904

Re: Rent vs Own Assumptions

You could argue they are stupid, but I don't think most people investing in real estate are. michaeljc70, 1) There are folks that are "accidental landlords". 2) They bought the house at substantially below market price. KlangFool Sure. But if they bought at below market, do you think they want to p...
by michaeljc70
Mon Jan 21, 2019 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Own Assumptions
Replies: 39
Views: 1904

Re: Rent vs Own Assumptions

You could argue they are stupid, but I don't think most people investing in real estate are. michaeljc70, 1) There are folks that are "accidental landlords". 2) They bought the house at substantially below market price. KlangFool Sure. But if they bought at below market, do you think they want to p...
by michaeljc70
Mon Jan 21, 2019 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Own Assumptions
Replies: 39
Views: 1904

Re: Rent vs Own Assumptions

The closing costs on both ends seem high. 9% to sell? 3% to buy? The maintenance also seems high. 9k a year? Did your landlord spend 9k in the last year on the place? I suppose if it is old and in bad shape that might be accurate. I've never spent that in a year and I replaced 2 windows, a patio doo...
by michaeljc70
Mon Jan 21, 2019 5:45 pm
Forum: Personal Consumer Issues
Topic: Please help me understand my Data Plan
Replies: 6
Views: 743

Re: Please help me understand my Data Plan

I have an iphone and have been on a legacy plan with TMobile for text and phone only. I use WiFi for everything else and when not at home I use what is available at coffee shops, malls, library etc and it has worked out mostly fine so far. We use a GPS device for the car. Except now we are beginnin...
by michaeljc70
Sun Jan 20, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

I suppose it depends on how much your agent has done for you in the past. We were in a similar situation, finding our dream house on our own, but only after our agent had helped us look for six months. We liked her and there was no way we would have double-crossed her. In fact, lucky her, she later...
by michaeljc70
Sun Jan 20, 2019 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce w/child. Spouse wants to move.
Replies: 128
Views: 8125

Re: Divorce w/child. Spouse wants to move.

As a few posts have suggested, is the divorce avoidable? If it is mainly over where you live and working too much won't moving solve those (as there won't be a side gig)?
by michaeljc70
Sun Jan 20, 2019 12:02 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

... I've always thought title insurance here is a rip off. I mean, they do all these title searches so the chances of something being missed is quite small. I wonder what the actual pay out rate is. ... Much of what you're paying is for the search. They have to search the chain of title, and for an...
by michaeljc70
Sat Jan 19, 2019 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce w/child. Spouse wants to move.
Replies: 128
Views: 8125

Re: Divorce w/child. Spouse wants to move.

Because the OP should agree to relocate his/her family just because their ex-spouse wants to live somewhere else? I know I would be very hesitant to relocate my family and leave my 2 jobs because my ex spouse WANTED to. Why should the family move in the first place? Definately not for better paying...
by michaeljc70
Sat Jan 19, 2019 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce w/child. Spouse wants to move.
Replies: 128
Views: 8125

Re: Divorce w/child. Spouse wants to move.

I read it more like "How much should I get paid to allow my spouse and child to move". Big difference IMO. Mmm, not really. Both ways are the OP asking, what's in it for me? The OP doesn't want them to move, they said that in this one. The difference is only in wording beyond that. Because the OP s...
by michaeljc70
Sat Jan 19, 2019 9:35 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

... I've always thought title insurance here is a rip off. I mean, they do all these title searches so the chances of something being missed is quite small. I wonder what the actual pay out rate is. ... Much of what you're paying is for the search. They have to search the chain of title, and for an...
by michaeljc70
Sat Jan 19, 2019 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce w/child. Spouse wants to move.
Replies: 128
Views: 8125

Re: Divorce w/child. Spouse wants to move.

The court is not going to guess what your future raises would be or what you and your spouses potential future salaries in another city would be. As others said, I would talk to an attorney as spouse wanting to move changes the dynamic a lot.
by michaeljc70
Sat Jan 19, 2019 7:14 pm
Forum: Personal Consumer Issues
Topic: How do you keep a calendar?
Replies: 63
Views: 2974

Re: How do you keep a calendar?

What do people mean by layers and multiple color codes? In Google Calendar at least, you can create different calendars for different kinds of appointments and set different colors for them, share them with different people, set different access levels, etc. For example, we have separate calendars ...
by michaeljc70
Sat Jan 19, 2019 7:09 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

Real estate agents are useless. They always tell you to put in a higher offer to ensure the deal goes through. I've heard you should use a lawyer to look over the contract if you are buying without one though. It might cost a lot. I had to laugh a little bit when I read this. I got fired by a clien...
by michaeljc70
Sat Jan 19, 2019 5:18 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

I bought a house without using an agent last year. The seller did not use an agent either, and it helped me negotiate a better deal. I hired a real estate attorney for 3k and he took care of the contract, recommending a title company that he works with, and recommending an inspector. Looking back I...
by michaeljc70
Sat Jan 19, 2019 4:06 pm
Forum: Personal Consumer Issues
Topic: Buy house without agent
Replies: 55
Views: 4336

Re: Buy house without agent

Thinking you are going to get the commission may not work. You found it through an open house. Was this hosted by an agent? If so, they will feel they are entitled to the whole commission. A lot of new homes are sold without agents, so not having an agent is not unusual and will not necessarily resu...
by michaeljc70
Sat Jan 19, 2019 1:56 pm
Forum: Personal Consumer Issues
Topic: Airbnb - cleaning fee, service fee, occupancy fee....???
Replies: 108
Views: 9464

Re: Airbnb - cleaning fee, service fee, occupancy fee....???

I like airbnb but its ridiculous now. Im looking for places next weekend. Room cost is 95, total cost for one night is 181?! Cleaning fee of $65?? Might as well make a mess on purpose to be honest. I thought is obvious for everybody but Airbnb is not as competitive for short stays (1-2 nights). Hot...
by michaeljc70
Fri Jan 18, 2019 10:41 am
Forum: Personal Consumer Issues
Topic: Infiniti QX30 - MB platform
Replies: 8
Views: 672

Re: Infiniti QX30 - MB platform

This story says the QX30 has been something of a disappointment to Infiniti. https://www.carscoops.com/2019/01/infiniti-qx30-date-death-infiniti-replacement-works/ Thanks for the link. Maybe that's why there are good deals on them. Supply and demand. A lot of people on here say buy a Toyota or Hond...
by michaeljc70
Thu Jan 17, 2019 9:36 pm
Forum: Personal Consumer Issues
Topic: New dishwasher recommendations?
Replies: 14
Views: 884

Re: New dishwasher recommendations?

This has been covered in several other threads, but I've been very happy with Bosch. I had one for 11 years in my last place with zero issues. I've had one for 5 years in my current place with zero issues (though there was a "recall" on the power cord and they came out and replaced it for free). The...
by michaeljc70
Thu Jan 17, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 236
Views: 40414

Re: What to do when a parent's money runs out?

Too many posts to read them all. I can tell you, my Grandmother is 92 and cannot survive on her income. She "owes" my Mother around $18k. My Mother will get 1/2 the house when her Mother passes. A cousin will get the other 1/2. My mother complains, but at least she will come out in the black at the ...
by michaeljc70
Thu Jan 17, 2019 8:20 pm
Forum: Personal Consumer Issues
Topic: Infiniti QX30 - MB platform
Replies: 8
Views: 672

Re: Infiniti QX30 - MB platform

I would expect Mercedes-like repair and maintenance costs. It is essentially a GLA. If you want Infiniti, you might consider a CPO QX50. Is there something wrong with the CX-5, though? In a top level trim, that can be fairly luxurious itself. The QX50 seems like a good deal used....I'm not crazy ab...
by michaeljc70
Thu Jan 17, 2019 2:24 pm
Forum: Personal Consumer Issues
Topic: Infiniti QX30 - MB platform
Replies: 8
Views: 672

Infiniti QX30 - MB platform

I am probably in the market for a new/used car (2002 Xterra hitting 180k miles and on last legs). I am looking mostly in the compact SUV/crossover area. Given the high resale values (and initial prices) of Acura/Lexus, I am avoiding those. I have a Mazda CX-5, so I was hoping for something a little ...
by michaeljc70
Thu Jan 17, 2019 1:52 pm
Forum: Investing - Theory, News & General
Topic: How to avoid temptation to buy hot stocks or bitcoin?
Replies: 63
Views: 4250

Re: How to avoid temptation to buy hot stocks or bitcoin?

I think you need to look at the purpose of gambling vs investing. Gambling has the intent that it is entertainment for most people. Most (realistic) people gambling don't expect to win over the long haul. Most people don't invest for entertainment purposes. Speculating to me is risky investing.
by michaeljc70
Thu Jan 17, 2019 11:14 am
Forum: Investing - Theory, News & General
Topic: How to avoid temptation to buy hot stocks or bitcoin?
Replies: 63
Views: 4250

Re: How to avoid temptation to buy hot stocks or bitcoin?

investing and gambling are synonymous. I [invested / gambled] on this house I [invested / gambled] on this index fund I [invested / gambled] on buying a business when people here say "gamble" , it is uniformly part of a rationalization. So you truly think there is no way to discern risk? Then I ass...
by michaeljc70
Thu Jan 17, 2019 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Accountant or do it myself?
Replies: 8
Views: 1132

Re: Accountant or do it myself?

What about the accounting for the business? To be honest, I have a background in accounting and I would probably do it myself, but it seems like a lot to take on for someone if they haven't done all (or at least some) of this before. You've got personal and business tax returns, the accounting for ...
by michaeljc70
Wed Jan 16, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant or do it myself?
Replies: 8
Views: 1132

Re: Accountant or do it myself?

What about the accounting for the business? To be honest, I have a background in accounting and I would probably do it myself, but it seems like a lot to take on for someone if they haven't done all (or at least some) of this before. You've got personal and business tax returns, the accounting for t...
by michaeljc70
Wed Jan 16, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Tax prep software with direct input to forms rather than hand holding?
Replies: 12
Views: 969

Re: Tax prep software with direct input to forms rather than hand holding?

I have to efile my state taxes this year due to a credit I claim . Anyway I usually use frefilefillable forms for my federal taxes as I much prefer to directly input into the forms rather than the usual interview hand holding style tax prep software. But freefilefillable forms won't do for efile as...
by michaeljc70
Tue Jan 15, 2019 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: A co-worker makes more than me
Replies: 77
Views: 6588

Re: A co-worker makes more than me

I would say there are many reasons they might make more. Degree? Better School? Maybe they made more at last company and were offered more to join this company. Maybe they do better work even though it is the same job. Maybe they like them more. Maybe they are closer to the boss/mgmt. Maybe they thr...
by michaeljc70
Tue Jan 15, 2019 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Change my mind - Lease > Buy New Car
Replies: 23
Views: 1959

Re: Change my mind - Lease > Buy New Car

greg24 wrote:
Tue Jan 15, 2019 11:06 am
They aren't giving you a better discount off MSRP because they think they can get you to lease
+1

Maybe try using Costco buying or some other buying service and see what price they give you. They will be on the higher side, but it gives you an idea on discounts when buying and a starting point.
by michaeljc70
Tue Jan 15, 2019 10:17 pm
Forum: Personal Consumer Issues
Topic: Website/Tool for HOA
Replies: 16
Views: 1166

Re: Website/Tool for HOA

We have a management company that handles all that. We are only 35 units. We pay them $15k a year, but no one has to do the accounting, collect the money, deal directly with issues, getting quotes for fixing things, etc. At around $35/mo/unit I think it is worth it. We have to beg people to serve on...
by michaeljc70
Tue Jan 15, 2019 6:35 pm
Forum: Investing - Theory, News & General
Topic: How to avoid temptation to buy hot stocks or bitcoin?
Replies: 63
Views: 4250

Re: How to avoid temptation to buy hot stocks or bitcoin?

I am not so sure about the strategy of being burned working. Most people buy a bunch of hot stocks (or whatever) and some win and some lose. The winners can keep you going for a long time and you can downplay the losers (common phrase- you cannot win them all). If everyone you buy is a big loser, I ...
by michaeljc70
Tue Jan 15, 2019 4:15 pm
Forum: Personal Consumer Issues
Topic: Any good reason to get a smartwatch?
Replies: 93
Views: 3911

Re: Any good reason to get a smartwatch?

Everyone I know with one of these is constantly walking around with a useless paperweight on their wrist because they forgot to charge it. I hope these friends aren't also responsible for feeding small children and pets on a scheduled basis. :) Seriously - I've never had my Apple Watch run out of b...
by michaeljc70
Tue Jan 15, 2019 4:07 pm
Forum: Personal Consumer Issues
Topic: Any good reason to get a smartwatch?
Replies: 93
Views: 3911

Re: Any good reason to get a smartwatch?

I like mine (Asus Zenwatch-refurb on Amazon for $75). To be honest, I don't use/need a lot of the functionality. I like being able to change the face and use the app to make my own watch faces. I have a few nicer watches (Tag) and now wear the smart watch almost all the time. The big negative is it ...
by michaeljc70
Tue Jan 15, 2019 12:55 pm
Forum: Investing - Theory, News & General
Topic: How to avoid temptation to buy hot stocks or bitcoin?
Replies: 63
Views: 4250

Re: How to avoid temptation to buy hot stocks or bitcoin?

Go to a simple (3 or 4 fund) index portfolio and don't buy anything else. That is what I did. It works. It isn't that hard. I've bought all kinds of things over the years: stocks, options, individual distressed bonds, leveraged ETFs, etc. I did very well on some, horrible on other things. The 3 fund...
by michaeljc70
Tue Jan 15, 2019 12:34 pm
Forum: Personal Consumer Issues
Topic: Duffel Bag vs Wheeled Stand Up traveling
Replies: 78
Views: 3739

Re: Duffel Bag vs Wheeled Stand Up traveling

Are we comparing apples to apples on fitting a duffel in an overhead bin? It seems to me if you have a carry on size duffle stuffed full, it isn't that much more malleable than a wheeled carry on. Sure, if it is smaller it is easier to fit. If it is not full it has give which a wheeled carry-on does...
by michaeljc70
Tue Jan 15, 2019 11:49 am
Forum: Personal Consumer Issues
Topic: Gas station prices and quality
Replies: 108
Views: 9708

Re: Gas station prices and quality

I typically buy at Costco. Even if there is a "better" gas is the difference really substantial? I doubt it for a normal car. In Chicago there are big differences in price. I bought gas last week for $2.01 and saw it a couple miles away for $3.29. It is location based more than brand based I would s...
by michaeljc70
Tue Jan 15, 2019 11:39 am
Forum: Personal Finance (Not Investing)
Topic: What's your experience upgrading to Quicken 2018 or 2019?
Replies: 41
Views: 2162

Re: What's your experience upgrading to Quicken 2018 or 2019?

That, and in other threads, folks talk about creating and maintaining complex Excel files to avoid using, and paying for, Quicken's electronic functionality. False economy. Do I get a dollar a day in value from Quicken? Yes. And I literally download daily, with a couple of keystrokes. Everyone's si...
by michaeljc70
Mon Jan 14, 2019 5:52 pm
Forum: Personal Consumer Issues
Topic: Credit score dropped dramatically, while credit has been frozen
Replies: 36
Views: 2621

Re: Credit score dropped dramatically, while credit has been frozen

Couple keypoints: - There are three credit bureaus -- Experian, Equifax, and Transunion. FICO has numerous versions of its scoring model. Unless you are comparing apples to apples (same bureau + same version), then it's impossible to know if your score really has dropped "dramatically" - Someone re...
by michaeljc70
Mon Jan 14, 2019 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Took on too much mortgage, seeking advice on where to put money going forward
Replies: 46
Views: 5233

Re: Took on too much mortgage, seeking advice on where to put money going forward

I think you are just fine as is. You did overbuy, but that is the past. If it is a rapidly appreciating area, that can help you get rid of PMI (this might vary by mortgage holder). I agree with the comment on buying for 3 or 5 years. Sunken costs make this not practical generally. That is something ...
by michaeljc70
Mon Jan 14, 2019 5:14 pm
Forum: Personal Consumer Issues
Topic: Credit score dropped dramatically, while credit has been frozen
Replies: 36
Views: 2621

Re: Credit score dropped dramatically, while credit has been frozen

As others indicated, if there has not been adverse credit information added, it is probably due to a different scoring model or different bureau. My scores range from 813 to 846 based on the free scores I have access to. There could also be minor credit differences with things dropping off your cred...
by michaeljc70
Mon Jan 14, 2019 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: What's your experience upgrading to Quicken 2018 or 2019?
Replies: 41
Views: 2162

Re: What's your experience upgrading to Quicken 2018 or 2019?

The idea that I need to subscribe in order to get a stable version of Quicken after buying Quicken for decades is pretty sad. I have 2017 and will reevaluate what to do when it stops downloading in 15 months. Frankly, I haven't seen useful (to me), substantial new feature for probably a decade or mo...
by michaeljc70
Mon Jan 14, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 162
Views: 8670

Re: Getting a Mortgage when You can Pay Cash for a House

I paid cash for my place and then took a 3.3% 15 year mortgage. Mostly I needed some money for remodeling and some for EF and some in case of a cash flow issue. I took around 60% of the value of the home. I invested some of the mortgage money. If rates were a lot higher, I probably wouldn't have tak...
by michaeljc70
Mon Jan 14, 2019 12:13 pm
Forum: Personal Consumer Issues
Topic: Duffel Bag vs Wheeled Stand Up traveling
Replies: 78
Views: 3739

Re: Duffel Bag vs Wheeled Stand Up traveling

2018: 100,000 miles, 80 flights, 20 cities. If it doesn't roll - or attach to something that does - it stays home. Exactly. How many of the people who are carrying a bunch of stuff on their shoulders are over 40? Or women? Or fly more than 100k? I suspect very few. I'm a woman. Not quite 40 but ass...
by michaeljc70
Sun Jan 13, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1263

Re: Estimated tax penalty exceptions

I haven't been hit with any underpayment penalty or interest, but I have been in a similar situation as you with regard to a large cap gains distribution at the end of the year erasing the ACA premium subsidy I got during the year. As I mentioned in a recent thread, Form 2210 doesn't help me make m...
by michaeljc70
Sun Jan 13, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1263

Re: Estimated tax penalty exceptions

I just realized that IRS hit me with a nice penalty for not paying enough estimated taxes during 2017. I didn't think I had to pay the penalty, because on 27th of December I received a large Capital Gains Distribution from a mutual fund. This additional income disqualified me from keeping Obamacare...
by michaeljc70
Sun Jan 13, 2019 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Estimated tax penalty exceptions [ACA premium underpayment penalty]
Replies: 24
Views: 1263

Re: Estimated tax penalty exceptions

I just realized that IRS hit me with a nice penalty for not paying enough estimated taxes during 2017. I didn't think I had to pay the penalty, because on 27th of December I received a large Capital Gains Distribution from a mutual fund. This additional income disqualified me from keeping Obamacare...
by michaeljc70
Sun Jan 13, 2019 11:43 am
Forum: Personal Consumer Issues
Topic: 15 full days in Costa Rica
Replies: 25
Views: 1840

Re: 15 full days in Costa Rica

Though I drove around in Costa Rica and would do so again, the roads are not the best like the comment above indicated. When I see 60 miles in the US, I think it will take 60 or 90 minutes. In Costa Rica, it can be 6 hours. Some of the roads get washed out frequently. Going around the mountains was ...
by michaeljc70
Sat Jan 12, 2019 10:11 pm
Forum: Personal Consumer Issues
Topic: ROI calc on grocery expenses
Replies: 29
Views: 1880

Re: ROI calc on grocery expenses

I read it is already sold out, so no need to calculate ROI unless you've bought already. Since people rave about their return policy, I am wondering if in 20 years you haven't needed it if you can return it. Though I've never tried any of it, I have to imagine all that emergency food that last for a...