Search found 1203 matches

by orca91
Wed Mar 29, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Any tax deductions from vacant second home?
Replies: 24
Views: 2083

Re: Any tax deductions from vacant second home?

Just sell the place for what you can get for it. You are going to lose money. Live and learn.
by orca91
Wed Mar 29, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Any tax deductions from vacant second home?
Replies: 24
Views: 2083

Re: Any tax deductions from vacant second home?

And, before you get in too much trouble with the forum here, quit asking about way to work around the law. Pretty sure that's against the rules.
by orca91
Wed Mar 29, 2017 1:03 pm
Forum: Investing - Theory, News & General
Topic: anyone factor in future inheritance?
Replies: 78
Views: 6781

Re: anyone factor in future inheritance?

Don't count it 'til you got it....
by orca91
Wed Mar 29, 2017 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Credit score dropped 30 points because I paid off my auto loan?
Replies: 49
Views: 10676

Re: Credit score dropped 30 points because I paid off my auto loan?

Do the lenders only look at cc score or do they also like to see various kinds of credit/loans before they provide mortgage ? I am not sure about that. I guess , if they are only looking at credit score (and not the type of loans) it won't matter much for getting a mortgage. But the fact that payin...
by orca91
Wed Mar 29, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Credit score dropped 30 points because I paid off my auto loan?
Replies: 49
Views: 10676

Re: Credit score dropped 30 points because I paid off my auto loan?

No recourse and no need to worry about it. The black magic of the credit score is quite confusing to us mere mortals. In credit score world, it was slightly better that you had the auto loan and I assume a low balance. In the real world, it's better you paid it off... and without the monthly payment...
by orca91
Wed Mar 29, 2017 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Withdraw Roth Contributions for Taxable
Replies: 12
Views: 1278

Re: Withdraw Roth Contributions for Taxable

Thanks for the comments everyone. In a separate thread I outlined a goal scenario of working part time at $50k, so with deductions/exemptions, i'd be left with ~$50k of head room for Roth conversions to top out 15% tax bracket- which most agreed was a good idea. What I'm struggling with is how to p...
by orca91
Wed Mar 29, 2017 10:54 am
Forum: Investing - Help with Personal Investments
Topic: Withdraw Roth Contributions for Taxable
Replies: 12
Views: 1278

Re: Withdraw Roth Contributions for Taxable

Op, I'm not sure what you're after with this thought though. If one is in early retirement and using the Roth contributions to live off of, why would they be reinvested? Just withdraw what you need and use that then. Also, you don't need to clear room in the Roth to make room for the conversion. I m...
by orca91
Wed Mar 29, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Max Out 0% Promo Credit Card
Replies: 39
Views: 3274

Re: Max Out 0% Promo Credit Card

I'm amazed at the amount of effort some folks put into finding and working these deals. It's also impressive in a way, and good for y'all. But, even though it's probably not all that much "work" it isn't worth my time. I tip my cap to you. :beer
by orca91
Tue Mar 28, 2017 12:04 pm
Forum: Personal Consumer Issues
Topic: What's your personal criteria for deciding whether or not to rent a car?
Replies: 105
Views: 7114

Re: What's your personal criteria for deciding whether or not to rent a car?

rashad3000 wrote:Basically, I prefer to rent cars every time I go out of town. What is your philosophy on this?
My philosophy is, I would never do that. Why own a car, if not to drive it?

If I fly somewhere and need a car while there, sure.... But, if I'm driving, my own vehicle works fine.
by orca91
Tue Mar 28, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?
Replies: 33
Views: 3985

Re: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?

I'm wondering if the rental house is the only option here?

OP, if you were to ask this money be put into index funds of your choosing, do you get the $300k?
by orca91
Tue Mar 28, 2017 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?
Replies: 33
Views: 3985

Re: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?

Sounds like a much simpler plan would just be to let your parents pay the rent for whichever apartment you live in over there. Why "invest" the rent money? I think they are trying to give their child a lesson not just a check. Teach a person to fish.... A lesson?? We will buy you a house in a diffe...
by orca91
Tue Mar 28, 2017 9:44 am
Forum: Investing - Help with Personal Investments
Topic: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?
Replies: 33
Views: 3985

Re: Parents offering to invest $300,000 in my name as graduation gift; initial thought is to invest in a house?

Sounds like a much simpler plan would just be to let your parents pay the rent for whichever apartment you live in over there.

Why "invest" the rent money?
by orca91
Mon Mar 27, 2017 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Single Fund Portfolio in Roth IRA
Replies: 16
Views: 2398

Re: Single Fund Portfolio in Roth IRA

No worries. It can be tough to decide. The good thing about the Roth is you can make changes about any time (certain funds have holding periods) without triggering taxable events or anything. If you pick the lifestrategy fund now and want the balanced fund next month, no problem. I think it's fairly...
by orca91
Mon Mar 27, 2017 10:51 am
Forum: Investing - Help with Personal Investments
Topic: Weathering sell-off days like today
Replies: 107
Views: 8916

Re: Weathering sell-off days like today

myInvestments wrote:I appreciate the positive comments. After sitting on cash for so long, I think all the hype started to make me worry that I made a mistake after making a lump sum investment.
You did... but, the mistake was sitting on cash for so long. :happy
by orca91
Mon Mar 27, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Any tax deductions from vacant second home?
Replies: 24
Views: 2083

Re: Any tax deductions from vacant second home?

but there is no credit for expenses higher than the rental income. Just and FYI on this part... Yes, there is. I was an accidental landlord and for a few years I was actually negative, or expenses well over rental income. I got to deduct it all. One year I had a $10k loss on it after all was added ...
by orca91
Mon Mar 27, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Any tax deductions from vacant second home?
Replies: 24
Views: 2083

Re: Any tax deductions from vacant second home?

You're spinning your wheels here, OP. Property taxes and mortgage interest are about all you have for deductions on the vacant home. It has never been a rental property, so there's no loss to look at when it's sold. There's no capital gain to worry about, as it doesn't sound as if you can even sell ...
by orca91
Mon Mar 27, 2017 10:31 am
Forum: Investing - Help with Personal Investments
Topic: Single Fund Portfolio in Roth IRA
Replies: 16
Views: 2398

Re: Single Fund Portfolio in Roth IRA

The balanced index fund holds US stocks and bonds and is 60/40. The lifestrategy fund holds US and international stocks and bonds and is 80/20. Both hold index funds. "Better"? That's an individual decision. Which do you like better?
by orca91
Mon Mar 27, 2017 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Weathering sell-off days like today
Replies: 107
Views: 8916

Re: Weathering sell-off days like today

huh? Unless I'm missing something the S&P is down by half a point? You are missing something. :) The OP is writing about from a couple weeks ago. By end of today, the OP's newly purchased fund should be down about 2%. Well, the OP mentioned "TODAY" in the thread title and in the first post. So, I d...
by orca91
Mon Mar 27, 2017 8:50 am
Forum: Investing - Theory, News & General
Topic: Why are international and US stocks down today?
Replies: 53
Views: 4749

Re: Why are international and US stocks down today?

understandingJH wrote:I understand how volatile the market is both in the short and long term so I fully accept that this could happen (or worse) after investing a chunk into the market. Still, I find this behavior odd and irrational.
You understand, yet find it odd?? I find that an odd statement. :happy
by orca91
Mon Mar 27, 2017 6:08 am
Forum: Investing - Help with Personal Investments
Topic: Reallocating retirement investment: wait or makes no difference?
Replies: 11
Views: 1200

Re: Reallocating retirement investment: wait or makes no difference?

The rest of my equity investments are relatively conservative (S&P 500 Index). I desire to "push the gas pedal" a little more, and 100% on the retirement fund seems the best one for potential major gains since they are not taxed yet. Why do you feel the desire to push the gas pedal now? You're sing...
by orca91
Mon Mar 27, 2017 5:59 am
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA transfer question
Replies: 11
Views: 1337

Re: Inherited IRA transfer question

Nope, no accounts there for me. I would have to dig out some papers to check... and don't really feel the need to do so. Maybe they slipped one by me...
by orca91
Mon Mar 27, 2017 5:54 am
Forum: Personal Consumer Issues
Topic: Where to borrow a moving cart from
Replies: 11
Views: 1863

Re: Where to borrow a moving cart from

I'm helping a friend move some two doors down. A cart like this, perhaps larger and sturdier might simplify the process. Not wanting to purchase one for a single time use, any ideas on where I can borrow one from? I'm sure most office buildings and such have one, but is there a person to ask and wa...
by orca91
Sun Mar 26, 2017 10:58 am
Forum: Investing - Theory, News & General
Topic: Bond Fund for Emergency Expenses: ETF versus bond Mutual Fund
Replies: 16
Views: 1421

Re: Bond Fund for Emergency Expenses: ETF versus bond Mutual Fund

With $10k?? I think you have spent too much brain energy on this already. Anything beyond a savings account for this amount isn't worth the effort, IMO. Worry about the rest of your portfolio and let this $10k sit somewhere doing nothing.
by orca91
Sun Mar 26, 2017 10:32 am
Forum: Investing - Theory, News & General
Topic: Bond Fund for Emergency Expenses: ETF versus bond Mutual Fund
Replies: 16
Views: 1421

Re: Bond Fund for Emergency Expenses: ETF versus bond Mutual Fund

How much is your emergency fund? If $25k or some smallish amount, how much extra does this bond fund plan earn you in a year? And, do you plan to "trade" with your EF... what do you care about buying when up or down... and, follow a bond fund for a bit to see how much they move or don't move day to ...
by orca91
Sun Mar 26, 2017 10:13 am
Forum: Investing - Help with Personal Investments
Topic: 100% stocks w/pension?
Replies: 40
Views: 5882

Re: 100% stocks w/pension?

You may look at the pension/SS income and say, "I don't need to take any more risk in my retirement accounts.. Lets be more conservative", while I may say, "I don't really see a need for ever needing to withdraw from these retirement accounts... Lets hop on the 100% roller coaster ride and not even...
by orca91
Sun Mar 26, 2017 9:57 am
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA transfer question
Replies: 11
Views: 1337

Re: Inherited IRA transfer question

I cashed mine out (under $15k) and Sis transferred hers to Wells Fargo (Why, I don't know...). You are faulting her for her choice of provider, when you abandoned the tax advantaged opportunity completely. lol Touche... Cashing out and paying the taxes was more useful to me at the time than the min...
by orca91
Sat Mar 25, 2017 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: Debt vs. Investing
Replies: 15
Views: 1864

Re: Debt vs. Investing

Yikes, that is a lot of non-mortgage debt with most of it at interest rates of 5% or higher. Investing should not be your worry right now. Paying down those high interest debts is a much better choice. Contribute enough to get any matches in the 401k and such. Then throw whatever you can at the debt...
by orca91
Sat Mar 25, 2017 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA transfer question
Replies: 11
Views: 1337

Re: Inherited IRA transfer question

Yes, that is correct. It has to go from the father to the beneficiaries first. Then they can transfer it out. When my mom passed a couple years ago, Sis and I had to do similar with Edward Jones. They had to set up inherited IRA for Sis and I, then we could do as we pleased with it. I cashed mine ou...
by orca91
Sat Mar 25, 2017 11:54 am
Forum: Personal Consumer Issues
Topic: Advice for Used Car Buying
Replies: 29
Views: 4562

Re: Advice for Used Car Buying

You're in a good spot not needing the car soon and not being too attached to any single vehicle. Leave your name and contact info with the dealers having the cars you are interested in, let them know what you want to pay, and sit and wait for a phone call. It's pretty likely you would get a call fro...
by orca91
Sat Mar 25, 2017 11:50 am
Forum: Personal Consumer Issues
Topic: The Sweet Spot for Yearly Car Costs
Replies: 54
Views: 6313

Re: The Sweet Spot for Yearly Car Costs

I think the sweet spot is...... who cares?! I'm a car guy, own four vehicles, and two are just for fun. My sweet spot is, if I like the vehicle, I own it. :happy Shoot, I would own more if it were reasonable for me to do so. There is no "sweet spot", IMO. OP, your sweet spot sounds perfect.... for y...
by orca91
Sat Mar 25, 2017 10:35 am
Forum: Personal Finance (Not Investing)
Topic: How to minimize increases for apartment rent?
Replies: 18
Views: 2024

Re: How to minimize increases for apartment rent?

Hello all. Today I spoke to my landlord about changes in my monthly rent should I decide to renew my lease in July. The higher-end estimate she gave me was an increase of $45 per month. I've been living in this apartment for the last 5.5 years and prior increases have been about $20 per month. For ...
by orca91
Fri Mar 24, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

Meg, What's your advice for a new build construction, where there might be 5-6 months between looking for a mortgage and the closing taking place. When I bought new last year, the builder needed proof of financing within 3 or 5 days (don't recall exactly). But, it was soon after and I felt sort of l...
by orca91
Thu Mar 23, 2017 9:00 pm
Forum: Investing - Theory, News & General
Topic: The $1,124,176 Car.
Replies: 99
Views: 12100

Re: The $1,124,176 Car.

Ha... well done, folks. :sharebeer

I bet we all have our things we spend money on that others would not. Life would really be bland without our likes and hobbies, right?
by orca91
Thu Mar 23, 2017 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

JuztVZ wrote:For reference, I've talked further with the bank and the 4.9% APR was for a 5% down payment, it goes down to 4.7% with a 10%, and to 4.4% with a 20%. The main thing driving down the APR is of course the mortgage insurance.
Ahh, that makes more sense.
by orca91
Thu Mar 23, 2017 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

Do you have a Roth IRA you could withdraw from, or a 401k to take a loan from? This may be a case where doing one of those to avoid PMI could make sense. I don't think this is good advice, Dave Ramsey would certainly agree. Better to pay a little PMI and pay down the loan quickly than risk tapping ...
by orca91
Wed Mar 22, 2017 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

Do you have a Roth IRA you could withdraw from, or a 401k to take a loan from? This may be a case where doing one of those to avoid PMI could make sense.
by orca91
Wed Mar 22, 2017 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

Stable... has the housing market ever been stable? :happy I bought in 2005 because I thought housing prices would just go up forever. I got into a horrible interest only 1st and 2nd mortgage deal. I couldn't afford the mortgage when it reset and luckily got to refinance to a fixed mortgage I could a...
by orca91
Wed Mar 22, 2017 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

It seems high to me. But, I am able to use the VA loan and more recently was able to put more than 20% down. So, I avoided PMI on both of those. I did have PMI on an older home, but that was in the mid-2000's and I think the PMI rules changed since then. I don't even remember the terms or APR of tha...
by orca91
Wed Mar 22, 2017 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

If the different pulls are done within 30 days, I think it counts as one. I could be wrong, but I believe it works that way. Specifically for shopping for mortgages or car loan, they accept many credit checks in roughly the same month as one pull.
by orca91
Wed Mar 22, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 5351

Re: Mortgage APR 4.96% - too high?

Seem like quite a spread between the interest rate and the APR. Most are less than 0.5% spread nowadays. Of course, I have checked into a PMI mortgage for a while so maybe that's why it seems high to me. Are either of you Veterans... the VA loan an option? Check with the preferred lender. They might...
by orca91
Wed Mar 22, 2017 7:48 pm
Forum: Investing - Theory, News & General
Topic: The $1,124,176 Car.
Replies: 99
Views: 12100

Re: The $1,124.176 Car.

I will think about it...... and, then keep and enjoy my fun and expensive cars. :happy

Life is short, cars give me joy, they're there in front of me to drive and work on, and totally worth it to me to splurge in that area. To each their own.
by orca91
Wed Mar 22, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: High CoL Area (W/ Mortgage) VS. Low CoL Area (W/ Paid Off House)
Replies: 9
Views: 1183

Re: High CoL Area (W/ Mortgage) VS. Low CoL Area (W/ Paid Off House)

I would agree, this seems very much like a lifestyle choice... and up to you, OP. Have you always lived in the Bay Area, or a big city area? Have you lived in a LCOL area? Would it drive you crazy to be away from everything a big city offers? I'd take the LCOL area and pay cash, but that's just me.
by orca91
Wed Mar 22, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 102
Views: 10354

Re: Vehicles as a percentage of net worth

I'm sure there are "rules" concerning this. I recall seeing the some percent of a year's pay rule before this.

I don't see these rules as useful though. Buy something you like that is reasonably priced. Keep it simple.

Truth be told, I'm a car guy and don't practice what I preach. :happy
by orca91
Wed Mar 22, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: child support question
Replies: 38
Views: 2471

Re: child support question

Some more good points brought up by others. OP, does the ex pay anything beyond the $400/month to you? As I said, my child support has remained the same. My state doesn't do this automatic COL change. But, I have given more to my ex for things like sports and cheerleading, and/or just paid for some ...
by orca91
Wed Mar 22, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Any downside in buying a brand new house ?
Replies: 71
Views: 6981

Re: Any downside in buying a brand new house ?

Yes, but I'll take my modern home over what the folks on the Alaska wilderness reality TV shows build and live in, thanks. :happy
by orca91
Wed Mar 22, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: child support question
Replies: 38
Views: 2471

Re: child support question

This is one of those things that varies from state to state, so it's tough to give solid advice over the computer. As a child support payer though I will give my thoughts. It' highly unlikely his payment would go down from the $400. He's been paying that for ten years, and from my reading it doesn't...
by orca91
Tue Mar 21, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: "Millionaire Next Door" Net Worth Formula
Replies: 178
Views: 27700

Re: "Millionaire Next Door" Net Worth Formula

Ultra rich? :happy Seems some are arguing appearances and some are arguing numbers. I guess my point is a known $2-3 million in savings/investments is very or uber rich to most people... the real most people. What they can live on is secondary. Again, the real most people have no thoughts of living ...
by orca91
Tue Mar 21, 2017 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: What building year I should seek when shopping for a house?
Replies: 33
Views: 3351

Re: What building year I should seek when shopping for a house?

avalpert wrote:2002 was a great year for Sonoma Chardonnay - 1996 is a classic for Napa Merlot.
That does help when looking for a home. :happy
by orca91
Tue Mar 21, 2017 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: What building year I should seek when shopping for a house?
Replies: 33
Views: 3351

Re: What building year I should seek when shopping for a house?

Don't worry about "what year". You will drive yourself crazy. The thread about new homes didn't ask what are the pluses of a new home. So, you heard mostly negatives. Other than the days when people built their own houses, or when a buy goes custom and picks each and every thing in the home, they're...