Search found 168 matches

by momvesting
Sun Nov 22, 2020 6:30 pm
Forum: Investing - Theory, News & General
Topic: How to teach your kids about money/wealth
Replies: 23
Views: 1352

Re: How to teach your kids about money/wealth

This thread reminds me of when my daughter was in 5th grade. They sent home a permission slip for a financial education class they were starting. She was so excited, for some reason, she was fixated on insurance. She wanted to know how and when the insurance payments are saved and invested and how t...
by momvesting
Wed Nov 18, 2020 2:05 pm
Forum: Personal Consumer Issues
Topic: Patio, cover, outdoor kitchen ideas & lessons learned.
Replies: 18
Views: 1502

Re: Patio, cover, outdoor kitchen ideas & lessons learned.

I don't have this, but if I did, I'd make sure to add plenty of outlets to cover many possible uses. I'd also want a hose connection that can do hot and cold. This will make it easy to double as a project space for cleaning, gardening, etc.
by momvesting
Tue Nov 17, 2020 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Contribution and GiftTax Question
Replies: 7
Views: 488

Re: 529 Contribution and GiftTax Question

I might be wrong about this, but I don't believe it is a gift at all. You are the 529 account holder and your are transferring your money into your 529. The child is only the beneficiary. The parent owns the account.
by momvesting
Mon Nov 16, 2020 4:55 pm
Forum: Personal Investments
Topic: How to fund gap years in early retirement?
Replies: 15
Views: 1410

Re: How to fund gap years in early retirement?

We sort of have a situation like this, and we have decided to do spend our last few years dumping cash in savings and taxable to fund the gap. So, while the retirement savings are more long term, and honestly a bit more fuzzy since no one knows what kind of care they will need or how long they will ...
by momvesting
Mon Nov 16, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Looking For Advice - Current Financial Position
Replies: 14
Views: 1386

Re: Looking For Advice - Current Financial Position

Another random thought that hit me as I read your story: If you want to do something like real estate/property management, after the pandemic is over you may want to consider a part-time job as an apartment leasing consultant. You won't make much money, but you can get a lot of experience. You can r...
by momvesting
Sun Nov 15, 2020 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for a Funeral
Replies: 61
Views: 5061

Re: Paying for a Funeral

My condolences. My mother always says that funerals are for the living. Keeping that in mind, if what you bought and what you spent gives you peace and you are fine with it, then you succeeded.
by momvesting
Sat Nov 14, 2020 2:45 am
Forum: Personal Finance (Not Investing)
Topic: Over-Improving Your Personal Residence?
Replies: 106
Views: 8939

Re: Over-Improving Your Personal Residence?

It's hard to tell without being familiar with your area, but you absolutely must keep the upgrades in line with a buyer's expectations for a house in your area and price range. For example, in my area, a million dollar house must have at least granite countertops while quartz is an expensive upgrade...
by momvesting
Fri Nov 06, 2020 2:20 am
Forum: Personal Finance (Not Investing)
Topic: Helping someone with abysmal credit and finances
Replies: 44
Views: 2834

Re: Helping someone with abysmal credit and finances

I have helped several friends with varying degrees of success. The first thing I have done is set up a generic budget and debt spreadsheet for them to fill out. If they do not want to share it, that is fine. The first sheet is a simple monthly budget of all income and all expenses including minimum ...
by momvesting
Wed Nov 04, 2020 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Parent is working grueling job, considering retiring just a few years before pension. How else can I help her decide?
Replies: 91
Views: 7826

Re: Parent is working grueling job, considering retiring just a few years before pension. How else can I help her decide

Can she stretch it out with unpaid leave, FMLA, Families First Corona Response, and the like? In many places if you are employed but on leave you still accrue service credit. https://www.dol.gov/agencies/whd/pandemic/ffcra-employee-paid-leave These are pretty liberal as far as who is a family member...
by momvesting
Thu Oct 29, 2020 11:02 pm
Forum: Personal Investments
Topic: temporary rental income from a friend going through divorce
Replies: 10
Views: 1575

Re: temporary rental income from a friend going through divorce

Take the money, stick it in a savings account in your name, and don’t do anything else until the divorce is final. If you accept money from your friend and invest it in something that ties back to him (like a 529 for his kid) it could look like you are trying to help him hide assets.
by momvesting
Wed Oct 28, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Family finance courses or methods / convincing a spouse (long)
Replies: 84
Views: 5344

Re: Family finance courses or methods / convincing a spouse (long)

Overspending is a spectrum from buying Tide instead of generic to Imelda Marcos. Can you give us some examples that you are seeing? I'm just trying to figure out if she has a giant designer shoe collection or if you are overly critical every time she takes the kids out for ice cream.
by momvesting
Wed Oct 28, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Family finance courses or methods / convincing a spouse (long)
Replies: 84
Views: 5344

Re: Family finance courses or methods / convincing a spouse (long)

I'm going to play devil's advocate for a moment and take her side for just a bit. My first thought during a pandemic was, "Clothes? What clothes?" But that is just us because we are all home right now and my college kid isn't growing, so last year's clothes are fine. But if your kids are g...
by momvesting
Wed Oct 28, 2020 12:42 pm
Forum: Personal Investments
Topic: What’s “your number” for each kid’s 529?
Replies: 380
Views: 20371

Re: What’s “your number” for each kid’s 529?

We live in Utah and every year since our kid was 6 months old, we have put exactly the amount that earns us the state tax deduction. This will land us with about $120k. My numbers are a bit fuzzy though, as I started running the private high school tuition through the 529 and out again into a separa...
by momvesting
Mon Oct 12, 2020 8:36 pm
Forum: Personal Investments
Topic: Putting aside money for kids, not 529 / education
Replies: 36
Views: 3380

Re: Putting aside money for kids, not 529 / education

Be aware that if there is any chance of them getting financial aid, an UGMA or UTMA are the child’s assets and 20% of assets are considered available to pay tuition AND that goes into the tuition calculation each year. The 529 is a parent asset, which colleges consider 5.6% available. Also, even if...
by momvesting
Mon Oct 12, 2020 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tips for selling a home FSBO
Replies: 11
Views: 1258

Re: Tips for selling a home FSBO

A few more unique things that I did when I sold FSBO that I think had an impact: 1. Set up a Google phone number and a special email address specifically for the property. The email should be based on the property, NOT your name. So something like: TulipLaneHome@gmail.com, this way you can disconnec...
by momvesting
Mon Oct 12, 2020 12:07 am
Forum: Personal Investments
Topic: Putting aside money for kids, not 529 / education
Replies: 36
Views: 3380

Re: Putting aside money for kids, not 529 / education

Be aware that if there is any chance of them getting financial aid, an UGMA or UTMA are the child’s assets and 20% of assets are considered available to pay tuition AND that goes into the tuition calculation each year. The 529 is a parent asset, which colleges consider 5.6% available. Also, even if ...
by momvesting
Fri Oct 09, 2020 1:08 pm
Forum: Personal Consumer Issues
Topic: Noise in Rental Apartment
Replies: 49
Views: 3933

Re: Noise in Rental Apartment

This is the downside to apartments with hardwood floors instead of the old carpet. You could offer to buy your upstairs neighbor a nice, plush rug and rug mat, but otherwise I think you are stuck with this as your neighbor is not doing anything out of the ordinary or incredibly noisy.
by momvesting
Thu Oct 08, 2020 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Would you rather be the richest or poorest person in town?
Replies: 109
Views: 8829

Re: Would you rather be the richest or poorest person in town?

We did something similar a few years back but not to the extreme you are posting. We lived in "Town A" but sent our kid to a private school because the schools were very overcrowded and we liked the private school. We lived in an average home, actually, every time the median home price was...
by momvesting
Thu Oct 08, 2020 12:14 am
Forum: Personal Finance (Not Investing)
Topic: severance/buyout structure
Replies: 10
Views: 1318

Re: severance/buyout structure

Is there a plan in place for the death or disability of a shareholder?
by momvesting
Thu Oct 01, 2020 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Buying half a house
Replies: 78
Views: 7020

Re: Buying half a house

It sounds like you are making a lot of assumptions. First, any gains from selling your house do not count as income. No college will think you make $250k the year you sell the house. The money will count as assets though. The EFC considers 5.6% of assets available to pay tuition. Then you talk about...
by momvesting
Thu Sep 24, 2020 1:09 pm
Forum: Personal Investments
Topic: Pay more on 2.49% car loan or invest in taxable?
Replies: 33
Views: 2594

Re: Pay more on 2.49% car loan or invest in taxable?

Please also look at your insurance prices at various deductibles. I just have a small, two-year-old base model Subaru Crosstrek worth under $20k and the insurance difference for a $500 vs a $1,000 deductible is fairly dramatic IMO. It is a $72 difference annually. Yes, $72 isn't much but to pay $72 ...
by momvesting
Tue Sep 22, 2020 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Finance to put 20% down on House
Replies: 21
Views: 3330

Re: Bad Finance to put 20% down on House

But remember, you have to double count what the $70k is costing you. It isn't JUST $100/month, It is $100/month plus 2.75% interest (another ~$160/month to start, decreasing by amortization).
by momvesting
Sun Sep 20, 2020 6:05 pm
Forum: Personal Investments
Topic: Any (legal) “loophole” for unused 529 funds?
Replies: 14
Views: 1480

Re: Any (legal) “loophole” for unused 529 funds?

Hmm. Makes me think about using 529 for private high school to ensure these $ are used. Anyone started to do this? Prob deserves a seperate thread I did this to cycle some money through, get the tax break, then invest in in a CD ladder I have going to pay the $4k/yr and $10k in year 5 (since colleg...
by momvesting
Tue Sep 08, 2020 1:12 am
Forum: Personal Consumer Issues
Topic: Office space
Replies: 22
Views: 2210

Re: Office space

What about somewhere that isn’t set up as office space and is hurting financially due to Covid, like an event space, church hall, restaurant dining room, library meeting room, or something like that?
by momvesting
Sun Sep 06, 2020 6:47 pm
Forum: Personal Investments
Topic: How Are CD Ladders Used in Retirement
Replies: 14
Views: 1940

Re: How Are CD Ladders Used in Retirement

I have a few relatives who engage in a bit of market timing. For example, about 2 years ago when CD rates were in high 2s and low 3s and the market was doing well, they sold some stocks and created an IRA CD ladder to match annual RMDs. That way if the market did not do well, they were not required ...
by momvesting
Sat Sep 05, 2020 3:00 pm
Forum: Personal Consumer Issues
Topic: Durable Couch Recommendations
Replies: 13
Views: 1193

Re: Durable Couch Recommendations

We have a Radley sofa from Macy's. Although we don't have the chaise, they have several configurations. We have had it several years and it has held up well.
by momvesting
Sat Sep 05, 2020 3:11 am
Forum: Personal Consumer Issues
Topic: Buying guns not an option, what else
Replies: 56
Views: 5252

Re: Buying guns not an option, what else

I always thought if I built a secure home that I would like to have hidden speakers with realistic sounds like sirens approaching, a helicopter overhead, the sound of a magazine being loaded and a round being chambered, doors opening/closing, etc. that could be set up to start automatically to scare...
by momvesting
Fri Sep 04, 2020 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Where are you finding refinance rate of <2.5%?
Replies: 26
Views: 4651

Re: Where are you finding refinance rate of <2.5%?

Getting ready to buy another house in the next couple of months and think I'm going to go with box home loans. Just got off the phone with them and I can get a 1.9% on a 15 yr here in Texas. I have to pay some but its an incredible deal. Be careful, Box is swamped and continues to miss deadlines. I...
by momvesting
Fri Sep 04, 2020 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Options for sheltering assets(monies) college - Is life insurance only option?
Replies: 44
Views: 2584

Re: Options for sheltering assets(monies) college - Is life insurance only option?

I am new to this FAFSA. Do you mean paying November's mortgage in October when You are filling out FAFSA? We have 100k savings in our bank, which is for our mortgage as our salaries are not enough to cover it. We don't want to pay off a low rate mortgage. I have been thinking about spending in adva...
by momvesting
Fri Sep 04, 2020 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Options for sheltering assets(monies) college - Is life insurance only option?
Replies: 44
Views: 2584

Re: Options for sheltering assets(monies) college - Is life insurance only option?

Whole life didn’t even cross my path when researching this. We did as much as we could to spend down savings. For example, we did higher than normal 401k contributions, then lowered them after we did the FAFSA and CSS Profile. We also prepaid as many items as possible, paying off a low interest car ...
by momvesting
Thu Sep 03, 2020 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house and building house- opinions requested
Replies: 5
Views: 641

Re: Selling house and building house- opinions requested

We are looking to do something similar in a few years and were crunching numbers and found a solution we like, although it may not work for you. Places like Menards sell prefab garages with small living spaces above. Most are similar to a one- or two-bedroom apartment. We were planning on tossing on...
by momvesting
Wed Sep 02, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Underwriter asking about husband's old child support as if it is current
Replies: 21
Views: 2448

Re: Underwriter asking about husband's old child support as if it is current

Yep, today I was asked to provide proof that we do not have an HOA and do not pay HOA dues. How do you prove a debt you do not have? They already have closing docs from when we purchased the house. I wrote a letter stating we do not have an HOA and gave proof of a little facebook club that does volu...
by momvesting
Mon Aug 31, 2020 12:36 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 77
Views: 4648

Re: Shopping for college

First of all, I agree with DIY test prep, but the kid has to be motivated and needs some help from a somewhat knowledgeable adult. I did it with my kid, a few tests we did together, untimed, discussing answers as we went. We also did LOTS of timed tests and graded/discussed them. She went from a 26 ...
by momvesting
Sun Aug 30, 2020 5:49 pm
Forum: Personal Consumer Issues
Topic: So, I was playing Pickleball and Amazon sent me an offer
Replies: 87
Views: 7469

Re: So, I was playing Pickleball and Amazon sent me an offer

This reminds me of the time I left my phone in the bathroom at work. Someone found it and turned it in at reception and they emailed me. I was really busy and didn’t pick it up for a few hours. For the next couple weeks I was bombarded with ads for engagement rings. I have been married for 20+ years...
by momvesting
Fri Aug 28, 2020 5:05 pm
Forum: Personal Consumer Issues
Topic: What purchases are you planning now for the Fall/Winter to get ahead of demand?
Replies: 57
Views: 7008

Re: What purchases are you planning now for the Fall/Winter to get ahead of demand?

I've been working on increasing our supply of all personal products, paper products, cleaning products, canned goods, and shelf stable ingredients. I'm hoping there is not a large second wave but if there is, we want to be prepared. When we first went into this in March, we were able to avoid shoppi...
by momvesting
Wed Aug 26, 2020 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Go for the Honda 0.9% APR loan or pay cash? 35k minivan
Replies: 51
Views: 4127

Re: Go for the Honda 0.9% APR loan or pay cash? 35k minivan

I had a similar situation several years ago with my Honda Pilot. Call and get insurance quotes. My insurance was significantly cheaper with a $1000 deductible than it was with a $500 deductible, and the financing required a $500 deductible. When I asked my insurance carrier why the $1000 deductible ...
by momvesting
Tue Aug 18, 2020 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Discount vs. full-price realtor
Replies: 126
Views: 5846

Re: Discount vs. full-price realtor

Just FYI, the way I’m pushing you is what a good full price agent should do (in my opinion, a “good” agent is a bit rare, less than 5% of all agents) and I hope you see my comments as trying to be helpful, not critical, as my intent is hopefully to help you. I’m not advocating that you get a full pr...
by momvesting
Tue Aug 18, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Discount vs. full-price realtor
Replies: 126
Views: 5846

Re: Discount vs. full-price realtor

The overwhelming hesitancy to drop the finance contingency tells me that there is more to the story, like a bonus that will probably come through (but may not) or a home you have under contract as a seller or an unlikely but possible job loss. If I sense a potential issue, then a good seller's agent...
by momvesting
Tue Aug 18, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Discount vs. full-price realtor
Replies: 126
Views: 5846

Re: Discount vs. full-price realtor

Do you have a finance contingency in the offers you are making? If you are competing with cash offers, that is your problem. Finance contingencies give the buyer too many easy ways out. If you are absolutely sure you qualify, put down a large escrow deposit and forgo both the appraisal and the fina...
by momvesting
Tue Aug 18, 2020 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Discount vs. full-price realtor
Replies: 126
Views: 5846

Re: Discount vs. full-price realtor

Do you have a finance contingency in the offers you are making? If you are competing with cash offers, that is your problem. Finance contingencies give the buyer too many easy ways out. If you are absolutely sure you qualify, put down a large escrow deposit and forgo both the appraisal and the finan...
by momvesting
Tue Aug 04, 2020 3:44 pm
Forum: Personal Consumer Issues
Topic: tru tankless(electric) versus rheem hybrid(electric)
Replies: 15
Views: 1002

Re: tru tankless versus rheem hybrid

You probably need to add more info. Are you building or replacing an existing hot water heater? Does your home use natural gas? How many people are using it? Just my data point, for what it is worth: We did a replacement last year. There are only three of us and both the washing machine and the dish...
by momvesting
Sun Aug 02, 2020 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2.25% refi... low enough to not pay off?
Replies: 21
Views: 2858

Re: 2.25% refi... low enough to not pay off?

Do you mind if I ask which lender?
by momvesting
Sat Aug 01, 2020 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Unmotivated daughter and son in law.
Replies: 115
Views: 9788

Re: Unmotivated daughter and son in law.

Have a heart-to-heart with daughter, ALONE, at a place/time where she can open up. You have no idea what is really happening in that marriage. Maybe she underperforms intentionally because he feels he needs to be the one supporting the family. Maybe she hoards because he gets upset if anything goes ...
by momvesting
Sat Aug 01, 2020 12:24 am
Forum: Personal Consumer Issues
Topic: Home Equity Question
Replies: 23
Views: 1659

Re: Home Equity Question

If they are capable of paying it off in 12 months, would a 0% credit card be a better fit than paying interest plus closing costs? That way they could do it on their own as well.
by momvesting
Fri Jul 31, 2020 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: In Search of Part-Time Work While Still Working Full-Time
Replies: 23
Views: 1842

Re: In Search of Part-Time Work While Still Working Full-Time

I know a guy who is a flight attendant and also does substitute teaching. The nature of most substitute teaching is so last minute that either he is available or he isn't, he doesn't need to plan for it in advance. It doesn't hurt in either job that he is great with kids.
by momvesting
Wed Jul 29, 2020 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Are we crazy to buy a VHCOL house now?
Replies: 32
Views: 3129

Re: Are we crazy to buy a VHCOL house now?

I had a similar opportunity a few years back except it wasn’t during COVID but my husband’s job was remote for a while because they were building a new office building. I wanted to do something that may or may not be possible for you but I still regret not doing. What if you temporarily left your ar...
by momvesting
Tue Jul 14, 2020 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: What would you do (Student Loans vs 401k Contributions)
Replies: 16
Views: 664

Re: What would you do (Student Loans vs 401k Contributions)

Although it is not the same situation, I have a child entering college this year. We are not getting loans, but we still get all the offers in the mail. The rates you are quoting seem in line with the fixed rates I’m seeing. Many of the offers we are getting also include variable rates around 1.75%....
by momvesting
Sun Jul 12, 2020 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming teacher after reaching FIRE? Advice needed!
Replies: 86
Views: 7328

Re: Becoming teacher after reaching FIRE? Advice needed!

If you are truly ready to FIRE and it isn’t about the money, then take a look at private schools. I went from private (Catholic) to public and the difference is night and day. From your comments about wanting a good district, you don’t seem like the type that wants to save the world in a rough, low-...