Search found 146 matches

by bironology
Thu Nov 19, 2020 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

I would only say you should check out what the price of the car is with financing. Sometimes they have incentives for you to finance. In that case, I'd take the incentive and then pay off the loan once I have online access to the account. I did that. the delta is $500. For me at this stage of my li...
by bironology
Thu Nov 19, 2020 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

I've driven new cars off the lot without paying with a check until a few days later. Bottom line: Don't ask us. Ask the seller all about this. You can try to negotiate anything you want. For sure. I like to have a premeditated assertion of what I want when I talk to them, so this thread has help me...
by bironology
Thu Nov 19, 2020 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

Did they want to run a credit check in order to accept a personal check? I paid with a person check recently and they called a third party service (with me sitting there) who verified there was sufficient funds in the account. They did not even ask to check my credit, but did request several times ...
by bironology
Thu Nov 19, 2020 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

My dealerships have always been fine with a personal check. I believe they just figure if it bounces they will track me down. Call them and ask. I always put down the max downpayment on my credit card for points (I think some allow $2000 and another $4000). I wouldn't do the final paperwork (just d...
by bironology
Thu Nov 19, 2020 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

By the way, no one shall run a credit check on me when I’m not financing. They can pound sand if that’s a requirement.

If that’s a requirement to pay with a personal check, then cashier’s check it shall be.
by bironology
Thu Nov 19, 2020 6:15 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Re: Logistics of buying new car with cash

When I ordered a new Audi, it took about 3 months for it to be built and shipped to the dealer. The dealer only asked for a small amount of cash upfront, 5% of the cost. When I picked it up, I just wrote them a personal check. They did want to run my credit, which was annoying because I keep it fro...
by bironology
Thu Nov 19, 2020 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3680

Logistics of buying new car with cash

Hi folks, need logistics advice for buying a new car without financing. I’ve purchased used cars with cash in the past, and the process was straightforward. Walked into local bank branch and got a cashier’s check for the negotiated drive-off amount, straight to dealership to sign P&S, hand check...
by bironology
Thu Jun 18, 2020 2:13 pm
Forum: Personal Consumer Issues
Topic: Old Cars & the expenses that go with them
Replies: 69
Views: 5260

Re: Old Cars & the expenses that go with them

The basic principle is you don't spend $4K on a new transmission for a $2K car. But you'd put new tires on it. Or a new battery. Or replace the radiator. etc. With cars, homes, and many other things, market value <> personal utility. If a $2k market value car is my means of transportation, I'd spen...
by bironology
Thu Jun 18, 2020 11:55 am
Forum: Personal Consumer Issues
Topic: Old Cars & the expenses that go with them
Replies: 69
Views: 5260

Re: Old Cars & the expenses that go with them

An alternative perspective: An old car might also be a future classic. In fact, within 20 years any ICE automobile may be a classic novelty. They've made millions upon millions of ICE cars. We are probably closer to 100 years before an ICE automobile is a novelty gien that well over 95% of car sale...
by bironology
Thu Jun 18, 2020 7:26 am
Forum: Personal Consumer Issues
Topic: Old Cars & the expenses that go with them
Replies: 69
Views: 5260

Re: Old Cars & the expenses that go with them

Too many factors to list out. But this rule of thumb always served me well: multiply the repair cost by 10. If I figured I could get at least that many miles out of the repair ($.10 per mile) that was the green light for the repair. I made some repairs many people wouldn’t, including spending $1,40...
by bironology
Thu Jun 18, 2020 7:09 am
Forum: Personal Consumer Issues
Topic: Old Cars & the expenses that go with them
Replies: 69
Views: 5260

Re: Old Cars & the expenses that go with them

I got rid of a car with 182k miles, 20 yrs old after it had a transmission failure. I was not spending 2000 bucks on a transmission for that old car. Then again I had another car just sitting there. I would think any time a repair is over 1000 dollars it is time. It depends on your overall situatio...
by bironology
Thu Jun 18, 2020 5:13 am
Forum: Personal Consumer Issues
Topic: Old Cars & the expenses that go with them
Replies: 69
Views: 5260

Re: Old Cars & the expenses that go with them

An alternative perspective: An old car might also be a future classic. In fact, within 20 years any ICE automobile may be a classic novelty. If the old car in question is in decent shape, perhaps just older in years but not beat up, and it’s a manufacturer or model that is novel for some reason, con...
by bironology
Tue Jun 16, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Borrow from family or sell equities for cash
Replies: 43
Views: 3772

Re: Borrow from family or sell equities for cash

As others noted, it’s a personal philosophy question, but consider that your $300k of equities afford you great flexibility in your life. Now seems to be a good time to capitalize on that flexibility.
by bironology
Tue Jun 16, 2020 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Locked out of Equifax
Replies: 30
Views: 5744

Re: Locked out of Equifax

Same issue for me 2 weeks ago when I visited to initiate a freeze. I just printed the paper form and mailed it in and moved on with my life. Got a confirmation in the mail just the other day. Pain in the neck, but less painful than hanging on the phone with lackeys for hours to try to get online acc...
by bironology
Sun Jun 14, 2020 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Off Home Early
Replies: 25
Views: 2893

Re: Paying Off Home Early

If you pay off the mortgage and your mortgage payment was $500 a month, $6K a year, then your could reduce your emergency fund by $6K since less money would be needed for 12 months expenses. You know, I'd already decided to pay off my mortgage and have been paying off aggressively since last year, ...
by bironology
Sat Jun 13, 2020 6:01 am
Forum: Personal Consumer Issues
Topic: What Size Home For A Family?
Replies: 87
Views: 5617

Re: What Size Home For A Family?

And yes not counting stuff is a tradition a tradition among minimalists:) A 1300 sq ft garage is crazy (i.e. we are talking like RV parking and a normal 3 car garage) but if it fits your life style, great. I know I would love one if the space was usable. A garage to me is more than space for cars. ...
by bironology
Sat Jun 13, 2020 5:57 am
Forum: Personal Consumer Issues
Topic: What Size Home For A Family?
Replies: 87
Views: 5617

Re: What Size Home For A Family?

I grew up in a tiny house, <900sqft, then lived in a tiny apartment for a few years, then a decent sized 2,000 sqft house where my wife and I started our family. Here was my experience in that 2,000 sqft house: We loved it, for a while. As a contract software engineer I worked from a home office qui...
by bironology
Sat Jun 13, 2020 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Paying Off Home Early
Replies: 25
Views: 2893

Re: Paying Off Home Early

If you pay off the mortgage and your mortgage payment was $500 a month, $6K a year, then your could reduce your emergency fund by $6K since less money would be needed for 12 months expenses. You know, I'd already decided to pay off my mortgage and have been paying off aggressively since last year, ...
by bironology
Fri Dec 27, 2019 5:51 am
Forum: Personal Investments
Topic: Paying off a mortgage: Incentivized by new tax law?
Replies: 20
Views: 2748

Re: Paying off a mortgage: Incentivized by new tax law?

Reviewing a bunch of these threads with a fresh perspective. For me, I had been in the “split the difference “ camp with a 15 year mortgage that I toss half of my annual bonus at each bonus season. Starting this year, I’ll be taking the standard deduction from here on since my interest dropped below...
by bironology
Fri Dec 21, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to pay off this mortgage?
Replies: 41
Views: 4919

Re: Does it make sense to pay off this mortgage?

I'll also add that living in a frothy real estate market makes a difference, which manifests in that % net worth metric I referenced. In Boston or NYC or San Francisco areas, paying off your house will pretty much totally consume your financial picture even if you are in the top 10% of earners. In o...
by bironology
Fri Dec 21, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to pay off this mortgage?
Replies: 41
Views: 4919

Re: Does it make sense to pay off this mortgage?

This is an area where I am a fan of the Ramsey approach, being Debt free, emergency fund in place, 15%+ towards your retirement, kids college fund on track and then you pay down the mortgage. So when completed you have an emergency fund, retirement is on track, you kids will get through school with...
by bironology
Fri Dec 21, 2018 7:33 am
Forum: Investing - Theory, News & General
Topic: Who's buying today? where's all the "dry powder" folks at? :)
Replies: 514
Views: 50992

Re: Whose buying today? where's all the "dry powder" folks at? :)

We are! I have been buying 2k each time when the market drops 2%. Both DH and I have very stable job (well, never say never...I know), for the time being, I am raiding our emergency fund (~1yr reserve) to buy total market fund at a discount. Totally loving this! :greedy :D I logged in to specifical...
by bironology
Fri Dec 21, 2018 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to pay off this mortgage?
Replies: 41
Views: 4919

Re: Does it make sense to pay off this mortgage?

I also think a paid-off home is over-rated for most folks. Especially if the equity of the home would be more than 25% of your net worth. Once it *is* paid off, great! But a concerted effort to pay off quickly at the expense of other balancing acts with your personal finance is an emotional activity...
by bironology
Fri Dec 21, 2018 6:15 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to pay off this mortgage?
Replies: 41
Views: 4919

Re: Does it make sense to pay off this mortgage?

I am nearing retirement at age 58 and haven't had a mortgage in about 15 years. If I had to do over again, I would NOT have paid off my mortgage and instead, I would have maximized the borrowing on my home at very low interest rates like the one you have now. I would have cordoned off an account wi...
by bironology
Fri Dec 21, 2018 6:06 am
Forum: Investing - Theory, News & General
Topic: Who's buying today? where's all the "dry powder" folks at? :)
Replies: 514
Views: 50992

Re: Whose buying today? where's all the "dry powder" folks at? :)

For many working folks, this is bonus season. What a wonderful gift that the market is also on sale! Double-win! :sharebeer :moneybag Not exactly "dry powder" but I normally hang on to my annual bonus until after the Santa Claus Rally. Not this year, I'm buying on the way down and loving i...
by bironology
Fri Dec 07, 2018 6:06 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

Getting more excited about the solo 401k option. E*TRADE actually has a Roth option for their Individual 401k plan, and they accept incoming rollovers! If I'm thinking about this correctly, she would then be able to contribute $19,000 (2019+) after-tax into such a plan. She could also roll her curre...
by bironology
Fri Dec 07, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

Thinking about the solo 401k... DW is a nurse. Currently she is a part-time W2 employee. She gets no benefits, literally just a paycheck. Since that's the case, if she asked her employer to pay her via 1099, then boom - she just became a sole proprietor with real business income and qualifies for a ...
by bironology
Fri Dec 07, 2018 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

D) Find a way, anyway for your wife to generate a few hundred dollars in self-employment income. You are reasonably intelligent people. Put your heads together. Surely, you can find a way. Then she can adopt a one-participant 401k that accepts IRA rollovers (not Vanguard) and rollover the pre-tax I...
by bironology
Fri Dec 07, 2018 5:36 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

Once the rollover of the pre-tax amounts (from the deductible IRA) are rolled over, then we have only the non-deductible IRA with a clear idea of the basis and the current balance, so that account can be converted into Roth IRA. Ideally the conversion step is done in the year after the rollover is ...
by bironology
Thu Dec 06, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

clydewolf wrote: Thu Dec 06, 2018 2:59 pm
or
C) don't bother with IRA for her at all.
This would be my choice.
Agreed. other options don't seem worth the trouble.
Thanks everyone.
by bironology
Thu Dec 06, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Re: Roth conversion for backdoor: wait?

Given the length of time to retirement I think I would just use the taxable account. I would definitely not convert at peak tax rates. But do you see any chance that your wife will change jobs and get the opportunity to roll into a 401k? There is a chance she could eventually gain employment and a ...
by bironology
Thu Dec 06, 2018 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1609

Roth conversion for backdoor: wait?

My wife's traditional IRA balance is about $40k. We cannot contrib pre-tax [Roth] due to income limits. We are mid-40s, quite a ways to retirement. She has no 403b or 401k opportunity through an employer (part time). I have successfully rolled my own tIRA into my 401k, so I can and have been executi...
by bironology
Thu Dec 06, 2018 6:13 am
Forum: Personal Investments
Topic: Help me simplify my portfolio for my taxable brokerage account
Replies: 4
Views: 1174

Re: Help me simplify my portfolio for my taxable brokerage account

Thanks t.i,

very helpful. Got it. It's the capital gains distributions that are different.
by bironology
Mon Dec 03, 2018 5:48 pm
Forum: Personal Investments
Topic: Help me simplify my portfolio for my taxable brokerage account
Replies: 4
Views: 1174

Re: Help me simplify my portfolio for my taxable brokerage account

Thanks typical.investor. Personally, I’d keep SCHE as it’s holdings are entirely different than SCHF. Noted. I’d also move SCHV and SCHM to SWTSX. You could then slightly reduce SCHA if desired. This is as I think it’s better to hold more Total market as small stocks moving up or bigger stocks movin...
by bironology
Sat Dec 01, 2018 6:49 am
Forum: Personal Investments
Topic: Help me simplify my portfolio for my taxable brokerage account
Replies: 4
Views: 1174

Help me simplify my portfolio for my taxable brokerage account

Help me simplify my portfolio for my taxable brokerage account. The AA I desire for *this particular account* is US Large: 55% US Small/Mid: 30% International: 15% My current holdings are: CASH 10% AAPL Apple, Inc. 3% MSFT Microsoft 4% SCHE Schwab Emerging Markets Equity ETF 6% SCHF Schwab Internati...
by bironology
Sun Nov 25, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

You may want to do more research on the impact on caregivers when someone has dementia, Alzheimer's, needs toileting help, etc. before you take that step. For sure. There's a threshold. Luckily, my wife is a nurse and worked with Alzheimer's patients for many years, so the threshold it pretty well ...
by bironology
Sun Nov 25, 2018 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Wow the predators are certainly aggressive. My mom, however, is more likely to tell them to **** off. :) That's no joke, she really would, but even so I will keep a vigilant watch. She has no credit cards as there's no need whatsoever for them, but freezing credit is a good idea since scammers could...
by bironology
Fri Nov 23, 2018 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Thanks all for the excellent comments and advice. Dad's finances are now separate, and all accounts in Mom's name only. Schwab has some Vanguard ETFs available at $4.95 trades, but not the MM fund. Frankly I won't lose sleep over the ~0.2% different between VG's and Schwab's MM funds. Depending upo...
by bironology
Fri Nov 23, 2018 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Thanks all for the excellent comments and advice. Dad's finances are now separate, and all accounts in Mom's name only.

Schwab has some Vanguard ETFs available at $4.95 trades, but not the MM fund. Frankly I won't lose sleep over the ~0.2% different between VG's and Schwab's MM funds.
by bironology
Fri Nov 23, 2018 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Rick, duly noted, thanks for that advice. I agree autopay and account alerts are the way to go. Also noted on the predator risk. Not happening on my watch! I also will have PoA for my mom, in advance of when it's required. What's "Poo"? Every 4 weeks, she analyzes her bowel movements, and...
by bironology
Fri Nov 23, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Rick, duly noted, thanks for that advice. I agree autopay and account alerts are the way to go.

Also noted on the predator risk. Not happening on my watch!

I also will have PoA for my mom, in advance of when it's required.

What's "Poo"?
by bironology
Fri Nov 23, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Having established POAs at Vanguard for my in-laws, mother, and even for my wife and I (setting up agent authorization), I'll politely disagree with ResearchMed on that point. However, besides the low cost fund, I know of no significant Vanguard advantage over Schwab, and if you are comfortable the...
by bironology
Fri Nov 23, 2018 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

You might want to speak with an Elder Care Attorney. IF Dad lives longer (who knows, these days!?), then will Mom really be okay if he blows through a bundle? There are ways to deal with this, but there's usually a 5 year look-back. Bt "just in case", you might want to get a freebie first...
by bironology
Fri Nov 23, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Re: Helping elderly Mom with finances

Your parents seem fortunate to have your assistance! First thought: What are the costs of Dad's nursing home, and how sustainable is that cost without risking Mom's financial security? (What is Dad's health prognosis, and how likely is it?) For Mom, what is her health? Oh, yes, what are their ages?...
by bironology
Fri Nov 23, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly Mom with finances
Replies: 45
Views: 3839

Helping elderly Mom with finances

Hi Bogleheads, I need some advice. Backstory: Dad entered nursing home a few months ago. Estate plan was not in place, I got that covered with an excellent attorney specializing in such matters. Dad's medication(s) cause him to be fairly "out of it" most days, so Power of Attorney is being...
by bironology
Fri Oct 26, 2018 6:24 pm
Forum: Personal Investments
Topic: Best tool/way to manage the a portfolio of multiple accounts
Replies: 25
Views: 2234

Re: Best tool/way to manage the a portfolio of multiple accounts

Thanks bironology for sharing this! Look like this sheet is very useful for tracing AA and see a summary of all accounts in one place. How do you use it for tracking the yearly performance of your investments? Excel is a hard tool for that kind of job, which is what I meant when I said "a prop...
by bironology
Sat Sep 15, 2018 5:46 am
Forum: Personal Consumer Issues
Topic: How often do you guys get alignment done on your cars?
Replies: 60
Views: 4656

Re: How often do you guys get alignment done on your cars?

Many potholes in New England due to frost cycles and general apathy to repair the road surfaces. As a result, alignment is something I think about often. I have a check done at least once per year when my vehicles are being serviced for whatever other reason. I inspect the check results myself and d...
by bironology
Sat Sep 15, 2018 5:32 am
Forum: Personal Consumer Issues
Topic: Humidity in basement
Replies: 65
Views: 4816

Re: Humidity in basement

It has its own separate 1.5 ton HVAC system. Since it's semi-subterranian, the temperature rarely goes above 78, even when it's 115 degrees outside. ... However, downstairs the humidity hovers around 65%. It barely gets used, do the AC doesn't kick in very often. I sometimes sleep downstairs and I ...
by bironology
Sat Sep 15, 2018 5:06 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 12678

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

Is the goal of life to be spending your days in liesure activities? Have a hobby - cool. Go fishing. OK. But what kind of impact do you want to make on the world? Establishing a leadership role in a company is not purely about climbing the ladder to make more money. Making more money is a fringe ben...
by bironology
Fri Sep 14, 2018 5:12 am
Forum: Personal Investments
Topic: Best tool/way to manage the a portfolio of multiple accounts
Replies: 25
Views: 2234

Re: Best tool/way to manage the a portfolio of multiple accounts

I do not give any 3rd party access to all my finances. I use a simple homemade spreadsheet and update the entries myself monthly. Takes me about 20 minutes to update and proof. The spreadsheet breaks down asset allocation X asset location and performs several other assessments of interest to me. I’...