Search found 3319 matches

by michaeljc70
Sat Sep 22, 2018 12:33 pm
Forum: Personal Consumer Issues
Topic: State Farm nickel-and-diming me
Replies: 60
Views: 4681

Re: State Farm nickel-and-diming me

Reminds me of something. I spent considerable time negotiating on my last car purchase. In the end I saved another $500. The next week a hailstorm caused thousands of dollars of damage to the car. I paid the $500 deductible. So my time was essentially wasted. I don't get it. If you didn't negotiate...
by michaeljc70
Sat Sep 22, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 42
Views: 2652

Re: Reverse Mortgages - Pros, Cons

Is there any cost to draw out money? Isn't some insurance required? What is the interest rate? You've only listed one fee that is low if you don't use it. When money is drawn out, the home owner is charged interest that will be paid when the home is sold in addition to the amount borrowed. Like any...
by michaeljc70
Sat Sep 22, 2018 9:20 am
Forum: Personal Consumer Issues
Topic: State Farm nickel-and-diming me
Replies: 60
Views: 4681

Re: State Farm nickel-and-diming me

This surprises me. I have had several relatives have hail damage to their home's siding. It was not to the entire home. The insurance company doesn't say they are going to replace just 2/3's of the siding and you are going to have mismatched siding on your home. Who would accept that? In my opinion,...
by michaeljc70
Sat Sep 22, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 42
Views: 2652

Re: Reverse Mortgages - Pros, Cons

We opted for a reverse mortgage (aka HECM) in August 2016. The total upfront cost was $125. The initial line of credit was $369,670. Today the LOC has appreciated to $410,496. Since that time the rules have changed and the intial LOC would be less. Under today's rules my initial LOC would be $291,1...
by michaeljc70
Sat Sep 22, 2018 8:55 am
Forum: Personal Consumer Issues
Topic: My Very First Smartphone — Please Critique This Plan
Replies: 63
Views: 2360

Re: My Very First Smartphone — Please Critique This Plan

The most persuasive argument is the durability/longevity issue touched on by Saving$ and Momus. If I can get 4 or 5 years out of a phone, then I'm not overly worried about the cost. This flagship price point has been roughly the same for many years now, and I've considered this move intermittently ...
by michaeljc70
Fri Sep 21, 2018 10:49 pm
Forum: Personal Consumer Issues
Topic: My Very First Smartphone — Please Critique This Plan
Replies: 63
Views: 2360

Re: My Very First Smartphone — Please Critique This Plan

A great Boglehead approach would be to get Google Fi phone service with a Moto X4 Android One phone ($250 from the Fi website). This is what I have, and it is a great phone with an excellent camera. I especially like the ability to get phone service over WiFi when I'm deep inside a building. If I w...
by michaeljc70
Fri Sep 21, 2018 10:45 pm
Forum: Personal Consumer Issues
Topic: My Very First Smartphone — Please Critique This Plan
Replies: 63
Views: 2360

Re: My Very First Smartphone — Please Critique This Plan

Well, I didn't read all the responses. My Father (age 70) recently did the same- moving from a flip phone to a smartphone. You don't need an $800 or $900 phone. A $250 phone will be completely sufficient. There are many that fit the bill, but I would stick with major brands (I got my Father a Motoro...
by michaeljc70
Fri Sep 21, 2018 10:14 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1051
Views: 81954

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Adapting a well known quote....."Every time I engage in behavior known to result in good fortune seems to bring good fortune."

Repeating what I said earlier....if you expect diverse investments to always return the same returns over the short run, you don't understand diversification.
by michaeljc70
Fri Sep 21, 2018 7:40 pm
Forum: Personal Consumer Issues
Topic: BlackFriday Shopping - what do you usually buy? (other than Christmas gifts)
Replies: 32
Views: 1741

Re: BlackFriday Shopping - what do you usually buy? (other than Christmas gifts)

Nothing. I was in Europe last black Friday and will be in Europe this black Friday (coincidence). Most of the items that are truly good deals are very limited in quantity and require a lot of work ( like camping out overnight). There are constant deals....check out the deal websites (I have two favo...
by michaeljc70
Fri Sep 21, 2018 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 42
Views: 2652

Re: Reverse Mortgages - Pros, Cons

The fees are substantial. I think, and I know a lot of people don't want to do this when they are too old, moving when you are younger (like 65) to a smaller/cheaper place or rental is a better idea if you think you are cutting it close and have substantial equity. There are people living in the sam...
by michaeljc70
Thu Sep 20, 2018 12:23 pm
Forum: Personal Consumer Issues
Topic: Android podcast app that remembers where you are in podcast?
Replies: 15
Views: 555

Re: Android podcast app that remembers where you are in podcast?

Google Play Music (which is standard on just about every Android phone/device) remembers your location and syncs among all devices. If I go to the web interface on my laptop, it picks up where I left off in a podcast I started on my phone. I find almost all my podcasts are on there, but not all of t...
by michaeljc70
Thu Sep 20, 2018 10:22 am
Forum: Investing - Theory, News & General
Topic: Age in Bonds - Still Recommended?
Replies: 142
Views: 10042

Re: Age in Bonds - Still Recommended?

I guess I'm the only one on this forum who doesn't care about AA. I keep 10 years worth of annual expenses in bonds, CDs, money market, and savings, and the rest is in stock regardless of the %. TravelforFun You are just expressing it in a different way. If using the 4% rule, roughly you'd have 25 ...
by michaeljc70
Thu Sep 20, 2018 9:37 am
Forum: Personal Consumer Issues
Topic: auto/home insurance rates
Replies: 12
Views: 1002

Re: auto/home insurance rates

Some insurance companies give you a new customer discount (labelled different ways) to make their rates appear cheaper than other companies and get you to switch to them. Eventually, the discount drops off and your rate is higher. Of course, there are regular rate increases too. Then the multi-polic...
by michaeljc70
Thu Sep 20, 2018 9:29 am
Forum: Personal Consumer Issues
Topic: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help
Replies: 81
Views: 3091

Re: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help

I'm not sure why buying a car for thousands over the market value is even an option.
by michaeljc70
Thu Sep 20, 2018 9:23 am
Forum: Personal Consumer Issues
Topic: Don't trust Tripadvisor reviews
Replies: 55
Views: 5003

Re: Don't trust Tripadvisor reviews

Not sure when people will realize this but most reviews online are fake. It’s a huge business, especially on Amazon. Go look at a site like Trustpilot, businesses pay them to contact their “customers” to solicit positive reviews. Companies end up competing in ranking wars just like SEO wars. Whatev...
by michaeljc70
Thu Sep 20, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

Is it possible to export to CSV and then import into QB? That would get around it although obviously with a little extra work. Yes. At least on my account. I see 4 different Quicken/Quickbook formats to choose from. You have to log into the website, but since the OP is doing it 2x a week this might...
by michaeljc70
Wed Sep 19, 2018 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

I manually enter my CC transactions into my own XLS log. I don't trust QuickBooks or any other software to keep track of my expenses. As for Chase, my Chase credit card bonuses have already paid for several trips to Europe and will pay for many more. If Chase Bank is the Devil, I am a Devil Worship...
by michaeljc70
Wed Sep 19, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

I manually enter my CC transactions into my own XLS log. I don't trust QuickBooks or any other software to keep track of my expenses. As for Chase, my Chase credit card bonuses have already paid for several trips to Europe and will pay for many more. If Chase Bank is the Devil, I am a Devil Worship...
by michaeljc70
Wed Sep 19, 2018 5:48 pm
Forum: Personal Consumer Issues
Topic: Long term stays/vacations
Replies: 11
Views: 1461

Re: Long term stays/vacations

I have considered it. However, unless you need a huge amount of luggage that needs storing, it seems like you are just paying for a place you won't be at all the time. I guess what could tilt it in your favor is if the longer you rent it for the bigger the discount you get (which is often the case)....
by michaeljc70
Wed Sep 19, 2018 5:45 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 205
Views: 13311

Re: What is your single most expensive mistake?

For all of you who are I assume in index funds now saying selling AAPL, NFLX, or whatever other individual stock that took off, is that really a mistake? By that logic, couldn't not-buying yesterday's winning lottery ticket be considered a mistake? Edward Jones, for me Well, a lost opportunity to m...
by michaeljc70
Wed Sep 19, 2018 5:35 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8024

Re: Can Sneakers go with Business Casual?

BH is a fine place for clothing advice. It is the worst place for fashion advice! Can you say why please? Thanks. I didn't make the comment, but frugality and fashion don't always go hand and hand. I also remember a thread about travel and packing and was surprised how many people bring those trave...
by michaeljc70
Wed Sep 19, 2018 9:53 am
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 205
Views: 13311

Re: What is your single most expensive mistake?

It has to be one of those stocks/ETFs that I was sure was going to go up. When it went down that was an opportunity to buy more at a great price. Multiple times. I lost over $40k around 2010-2015 because I was sure interest rates were going up. But there were many other episodes with individual stoc...
by michaeljc70
Tue Sep 18, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

I didn't quote any response to get in the middle, but I would venture to say that among non-Bogleheads, most people entering leases couldn't identify the interest rate or many other key figures in their lease. They know what they have to put down, the payment, and the number of months. The three mo...
by michaeljc70
Tue Sep 18, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

I didn't quote any response to get in the middle, but I would venture to say that among non-Bogleheads, most people entering leases couldn't identify the interest rate or many other key figures in their lease. They know what they have to put down, the payment, and the number of months.
by michaeljc70
Tue Sep 18, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

Why would a lender approve a loan for an unemployed retiree? Because said retiree has non-wage income, such as from 401k's, IRA's, social security, and rental properties. Yes, but if they are trying to limit withdrawals due to taxes, they may not have the reported income to support the loan. It was...
by michaeljc70
Tue Sep 18, 2018 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

I manually enter my CC transactions into my own XLS log. I don't trust QuickBooks or any other software to keep track of my expenses. As for Chase, my Chase credit card bonuses have already paid for several trips to Europe and will pay for many more. If Chase Bank is the Devil, I am a Devil Worship...
by michaeljc70
Tue Sep 18, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

I had a very poor and unfair experience with Chase 20 years ago. I made sure I quit them loudly and distinctly at a local branch, promising to never do business with them again in any capacity. I kept my word and have since advised many people in the ensuing 20 years, not to do business with them e...
by michaeljc70
Tue Sep 18, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

When it comes to the "big" banks, you could find thousands of people that would say "Can you believe big bank did X to me? I would never bank at big bank again." Thinking there is a perfect bank (or any big company really for that matter) is probably a fool's errand. Sometimes we dump companies beca...
by michaeljc70
Tue Sep 18, 2018 4:07 pm
Forum: Personal Consumer Issues
Topic: Consumer Issue - Storage Unit Rental
Replies: 14
Views: 1103

Re: Consumer Issue - Storage Unit Rental

Raising rents on storage units is a very common way for them to make a lot of money. Typically, they offer a very low rate for x months. They know you don't want to find/rent a truck and get people to help you move stuff and take advantage of that. As to your particular situation, I would just drop ...
by michaeljc70
Tue Sep 18, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Bank used to be more customer focused
Replies: 46
Views: 5727

Re: Chase Bank is the Devil

Interesting. Quicken has been giving me errors for weeks on my Chase Ink Business card and I didn't know why. I don't need the card (got it mainly for the bonus) and will just close it.

On top of that, I find it very annoying that I cannot link it to my Chase ID I use for personal accounts.
by michaeljc70
Tue Sep 18, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

I recently bought a boat by "triggering a taxable event." In my case I had funds specifically earmarked for a purchase such as this (car, truck, boat, etc.) So I'd have to ask you - if you're not willing to spend the money on a car, then what else are you using that money for? Put it this way - lea...
by michaeljc70
Tue Sep 18, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

Op here.....keywords are IN RETIREMENT. All purchases in our case would trigger a large taxable event, looking at how leasing might offset that or not...... Are you selling stocks? How long do you plan to keep your cars? How many miles do you drive a year? Isn't leasing just delaying the taxes? Is ...
by michaeljc70
Tue Sep 18, 2018 12:25 pm
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3281

Re: Equity in house / Do you use it?

greg24 wrote:
Tue Sep 18, 2018 12:20 pm
Do you do anything with the equity you've built up in mutual funds? Do you take a margin loan?
You just withdraw the money from a fund to spend it. Not as easy to do with a home. Not the same thing IMO.
by michaeljc70
Tue Sep 18, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 9934

Re: Massive Student Loan Debt - Fiancee

It seems to me that you're quick to penalize her for taking out student loans, for which she likely had no choice,... Um, no. She had a choice, we all have choices. I'm not saying she made a bad choice or a good choice, but she did make a choice, and choices have consequences. Yes. Of course you ha...
by michaeljc70
Tue Sep 18, 2018 11:41 am
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3281

Re: Equity in house / Do you use it?

Getting a HELOC while retired may not be as easy as people think. You would have to show sufficient income to pay back the loan. If you haven't been taking RMDs, money out of tax deferred accounts that counts as income and/or get sufficient pension/social security you may not qualify. Those are inco...
by michaeljc70
Tue Sep 18, 2018 11:05 am
Forum: Personal Consumer Issues
Topic: Tesla Refund
Replies: 19
Views: 2288

Re: Tesla Refund

eye.surgeon wrote:
Tue Sep 18, 2018 10:34 am
Sounds like as much a Paypal problem as a Tesla problem.
It took 6 months to figure out an alternate payment method or figure out the problem? :shock:
by michaeljc70
Tue Sep 18, 2018 10:48 am
Forum: Personal Consumer Issues
Topic: Inexpensive source for greeting cards?
Replies: 27
Views: 1478

Re: Inexpensive source for greeting cards?

Aldi's (new item), Trader Joes, Party City, Dollar Tree. Costco has a box of Hallmark cards once in a while for a variety of events that are really nice and cheap (but they don't have writing (sayings) inside). The cards have nice embellishments (for lack of a better word) and look expensive. They h...
by michaeljc70
Tue Sep 18, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Need help in solving Tenant landlord issue
Replies: 26
Views: 2289

Re: Need help in solving Tenant landlord issue

I think paying a lawyer a few hundred bucks to send a letter (disputing all these charges and threatening legal action) might give you the most bang for your buck. Court is time consuming and can be costly and can quickly turn into a he said she said situation.
by michaeljc70
Tue Sep 18, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 82
Views: 5928

Re: Leasing Cars in Retirement

Isn't leasing just delaying the taxes? You still have to have the money down (I know sometimes you can get none down, but payments are higher). You still have to make the payments. If you buy and sell after 3 years (or trade in), the residual value is money you don't have to take out of savings. I r...
by michaeljc70
Tue Sep 18, 2018 9:35 am
Forum: Investing - Theory, News & General
Topic: Is there such thing as saving TOO much?
Replies: 78
Views: 6675

Re: Is there such thing as saving TOO much?

I am in a situation where my bills are relatively low. (Single, no kids). I live a pretty basic, simple, and frugal lifestyle. (10 year old reliable car, prepaid cell phone, cut my own hair etc). I am saving roughly 50%+ of my salary, Investing mostly in VTSAX and some liquid savings accounts for a...
by michaeljc70
Tue Sep 18, 2018 9:32 am
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3281

Re: Equity in house / Do you use it?

I would use it if there was a temporary cash flow issue I needed to overcome. If I needed the money longer term I would sell and downsize. If I was older and really needed the money and didn't want to move, I'd consider a reverse mortgage as a last resort.
by michaeljc70
Tue Sep 18, 2018 9:27 am
Forum: Personal Consumer Issues
Topic: HOA Donation in Remembrance of Deceased Owner
Replies: 38
Views: 2503

Re: HOA Donation in Remembrance of Deceased Owner

I agree that this is not appropriate and I doubt many by-laws would legally allow this. Of course, boards often do what they want as no one is going to sue to stop you from spending $100. In most associations this is such a small amount that I wouldn't lose sleep over it. If the HOA wanted to do suc...
by michaeljc70
Tue Sep 18, 2018 9:15 am
Forum: Personal Consumer Issues
Topic: How to determine quality of a finished new construction home
Replies: 45
Views: 2892

Re: How to determine quality of a finished new construction home

Lots of good commentary here.. Like any home, best thing is to educate yourself, hire a good inspector and ask a lot of questions. First, look at the architecture... Is it a well designed, well proportioned house ? (look at http://www.mcmansionhell.com to see what I mean - lots of contemporary hous...
by michaeljc70
Mon Sep 17, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 93
Views: 4446

Re: Dilemma: Add room to current house or buy new house?

One issue could be that we have this 2000sqft unfinished basement that is simply never used so it feels like we only have 4000sqft in reality. My wife does not want to climb down and up from the basement so finishing it may be throwing money down the drain. Stairs. She doesnt want to walk up and do...
by michaeljc70
Mon Sep 17, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 9934

Re: Massive Student Loan Debt - Fiancee

Though the debt can be overcome, imagine what the NFV is of $150k when you are in your early 20s! I am not going to do the math and have people pick apart the numbers I use, but it is a lot of money at age 60 or 65. I would guess if I had an extra $150k when in my early 20s I probably wouldn't ever ...
by michaeljc70
Mon Sep 17, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 93
Views: 4446

Re: Dilemma: Add room to current house or buy new house?

Another way of looking at this is adding a 320 sq ft room will add a little more than 5% square footage to the home for about 20% of the market value of the house. Since the land has some value, the actual % of home value is actually probably much higher.
by michaeljc70
Mon Sep 17, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 93
Views: 4446

Re: Dilemma: Add room to current house or buy new house?

GoldStar wrote:
Mon Sep 17, 2018 2:25 pm
You lost me at 6000 sq feet being too small.
It's only 1200 sq ft a person!
by michaeljc70
Mon Sep 17, 2018 2:27 pm
Forum: Personal Consumer Issues
Topic: Selling your home with Opendoor
Replies: 3
Views: 389

Re: Selling your home with Opendoor

Wonder if ppl have experience with Opendoor service. Seems like cost is about the same as real estate agent, with less hassle. I'm curious to hear real experiences from BH's I found out about it here . Thanks. H When you say "cost" it doesn't sound like you are taking into account any difference in...
by michaeljc70
Mon Sep 17, 2018 2:15 pm
Forum: Personal Consumer Issues
Topic: ACA - Silver plan cost sharing worth it?
Replies: 29
Views: 2179

Re: ACA - Silver plan cost sharing worth it?

So, I did the ACA application and put in my info. The eligibility document says "Choose a plan by October 30, 2018." "Until October 30, 2018, you're eligible to buy a 2018 Marketplace plan". So I think I am good if I get a plan for 11/1 and pay before that. One thing I will add is to think carefull...