Bogleheads.org

Yes, you have to watch them, they screw up more often than they get it right and they have the strangest accounting I have ever seen. For example, my "free upgrade" included a dollar amount of monthly credits and a one-time trade in credit from my old device. Then they used my one-time credit to pay off another phone on my account, then stop the monthly credit on that line. Then somehow this negated my free AppleTV, so I got charged for that. This fall I ended up calling them every single month after my incorrect bill would post. They are the worst.

I would have 2 but if unequal amounts. The bigger one can be in oldest kid’s name. If that account has a balance after Kid 1 graduates you can change the beneficiary to Kid 2. The smaller account should be in Kid 2’s name so that you can draw from it when both Kid 1 and 2 are in college at the same time.

We had an 07 Pilot, so the technology may not be the same, but we were able to get a new one at Batteries Plus. They programmed it for us. I honestly do not remember the cost other than it does not stick out in my mind as being expensive.

I felt like this about our Subaru Crosstrek. We got it new in 2018 for $22k. For that price the base model has Apple Carplay, cruise, electric windows, rubber floormats, cargo liner, electric mirrors, rear wiper, and several other nice features. Nothing like the base model Honda Civic I got in college that didn't even have a radio or AC.

I would keep some in HYSA for those things that 529 will not cover. For us, flights to and from school and Ubers have been a big one. I also cash flow items that I’d just prefer not to argue with the IRS over if I were to ever be audited. For example, my kid has a STEM major but a few of her electives are just fun classes but require art supplies or sports equipment. Also, the furnishings for their first off campus apartment are not usually allowable under 529 rules.

Have you maxed IRA space? If not, you can throw some money in an IRA to get that tax bill under $1k and avoid penalties.

While I wholeheartedly agree with the consensus that Capella is a bad choice, perhaps in the spirit of compromise and to show flexibility, you can approach this from a different angle. Instead of eliminating Capella, can you approach your wife with the idea to delay the degree path and just get a few of her generals out of the way at a much reduced cost?? I think your wife may be surprised by how much is available through normal community colleges and universities. In order to stay current there are many classes with flexible schedules offered 100% online. Look at your local, regional, and state schools and see what you can find. Sure, Capella is the most responsive, you are going to hand them a pile of cash! You may have to do a bit more w...

We did this in outer last house and it looked great for 10+ years until we moved with one exception. The house faced south and the interior concrete floor continued outside the door about 4 inches to where the garage floor meets the driveway. That few inches got really bleached out by the sun. Our house was very new (less than 2 years old) when we moved in, so we were able to prep the floors with TSP and a lot of scrubbing and didn’t need to sand them. Also, we did not do the top clear coat layer because my uncle did it in his house and it was very slick when it got wet (probably not a huge problem in Arizona, but he lived in Colorado).

We do a couple of things. First, we have found our best CD rates at a local credit union. I don't worry about ACH limits because I can walk in to a branch. Last month I funded a little over $20k in CDs with personal checks, no ACH needed. I can cash the CDs at the end of the term by dumping them in my shares (like liquid savings) account and getting a cashier's check when the CDs expire. I did need to open a shares account and keep $10 in it to have this option. Second, check with the bank that the $3000 limit is not negotiable. My same credit union had a $1500 ACH limit and I have had CDs with them for a while. When I mentioned it, they immediately raised it to $5k, they said the $1500 was just required for new customers. Third, if you do ...

My kid needed a very expensive computer for her major, but to minimize these problems and for quick note taking, looking things up, etc. we also bought her the very cheapest ipad on a Black Friday sale and bought her an Apple pen. She picked out a durable case and she uses the ipad quite often to study, answer email, read PDF textbooks, etc. and it saves some wear and tear on the laptop. Its been well worth the $279 + $99 (pen) we spent. Just a thought that may help your kid take better care of the laptop.

I don’t know anything about the tax credit, but can you just buy the car and title it to you and your son and just leave it that way??

My suggestion, if you aren’t willing to commit to putting it in retirement funds, shop around and find a high interest CD. Put all $35k in and have it set up not to reinvest the interest. You will earn $125-$150/month in interest. Spend this freely and feel better because you have the full $35k untouched.

My suggestion, if you aren’t willing to commit to putting it in retirement funds, shop around and find a high interest CD. Put all $35k in and have it set up not to reinvest the interest. You will earn $125-$150/month in interest. Spend this freely and feel better because you have the full $35k untouched.

Is this the only issue?? If so, I'd install a cute white picket or iron 3ft fence around the yard. Then install some decorative boulders at the corners and maybe a few scattered across the front. This will cost much less than moving and getting a mortgage at double the interest rate.

In my area, prices have dropped in this time frame. If it was me, I would walk. See if the builder chases you. If he does, then you can negotiate down. If not, go find a more fairly priced house.

I think we can all agree that impulse spending just is not in our blood, so we need to spend the same way we save: with a plan. Through the years, we (or maybe just me!) run through these “what if” scenarios, like “what if we both lose our jobs” and then we set up a mock budget for this doomsday scenario. We need to do similar thought exercises for spending, like, “If I had to spend $100 today, what would I buy?” or, “If I had to spend $1k this week, what would I buy?” Then think through how reasonable the spending may be. Just now in composing this reply, I did the $100 today question and decided that I want a new warm bathroom rug for our master bath. It won’t cost much but I think it will bring us a little bit of enjoyment and comfort on...

I occasionally use green tea pills. They are pretty mild and don’t make me jittery, but they also don’t have that rush that something like 5 hour energy drinks will give you.

If you are not getting any financial aid, this opens up the door to receiving private merit aid without hurting your nonexistent financial aid package. If your kid is good enough to get in to an ivy, they are good enough to earn merit aid, you just need to sit down with the kid and spend an afternoon looking for scholarships. I recommend that you start out with local service organizations like Elks, Rotary Club, Masons, Knights of Columbus, etc. None of the scholarships they offer are very large, they typically range from $500-5000, but put a few of those together and you could have a decent dent. Then look for other local businesses near you. For example, in my area there is a local construction company that gives away a $2000 scholarship ...

First and foremost, this depends on your ability to pay and what you are willing and able to pay for without meeting your other savings/spending goals. I feel very fortunate. We have one kid and she is highly driven. She did well in high school and got herself into one of the elite schools. We also are fortunate enough to have that income level that is "just right", so we qualify for a generous aid package and the AOTC/LLC tax credits. We started saving in a 529 when our child was less than a year old and our state has a tax credit. We are currently paying 100% and our kid is in the third year of a five year degree. We have been clear since she was little that the money is not automatically hers, she has to work hard and continual...

Just FYI, if you used informed delivery from the post office, it does not scan local mail, such as holiday cards from your neighbors. I posted this here in the past and someone had a reasonable explanation about local mail being sorted differently. Anyway, one strange effect of this for me is that I happen to live very close to some major bank and other business centers that end up being local to me. The one I’ve noticed the most is Discover. All the statements aren’t local so they get scanned but a few notification letters have arrived without ever being scanned. Anyway, if you have a local bank or happen to live very close to certain businesses, their mailings may not get scanned. In the situation you are describing, if they use a local b...

When I sold my home nine years ago, my listing price was $250k (and ended up selling at this price). I got one of those cash offers and it was for $175k. It didn’t require inspections, so I guess if I owned a home that was sliding down a hill or in a frequent flood zone or something else terrible like that, I would have considered it. I got the feeling they were sniffing for desperation. The guy kept calling me and asking what I was going to do if it didn’t sell. “Live in it,” was my response, we were just looking to upgrade in the same city, so we were far from desperate.

Do you have any 401k/IRA savings?? We are looking at a similar situation to yours with a pension and SS, but no WEP. We also do 401k and IRA savings that will not be needed for our normal retirement spending. We have nicknamed it "the lump" because it's the only thing that won't be distributed monthly. We plan to live without using the lump except for to take RMDs when required and reinvest them in a CD or other taxable vehicle. The lump is our safety net for long term care or will become inheritance. Do you have a lump???

Do you get a state tax deduction? I used that as my guide and contribute annually to get the deduction.

Like others have said, this greatly depends on your goals. I have a kid who got into an elite private mentioned here and her stats are actually on the low end for her particular university, but there are things that I think gave us an edge. By far, the biggest thing that helped her was finding a way to stand out. We hunted down a very well regarded summer program in her major that she participated in during the summer after her sophomore and junior years of high school. This helped her be focused on her exact area of interest. By having a VERY specific focus, she was able to pick schools that matched her focus and helped her to write knowledgable, specific essays based on her focus. We think that the combo of the summer program experience a...

Is the $140k gross or net? If it is net then that is a 7.7% cap rate. What are cap rates currently in your area for similar class buildings?

New user, first post, over the top situation. Hmmmmmm.

Is it the actual FAFSA or is it FACTS? They are very different. Also, is this a larger school? Is there a chance that they will experience a decline in enrollment that will have them rethink the increase? I know this sounds unlikely, but we had a similar situation at our child’s Catholic School a few years ago. In response to a large tuition increase, they had a huge increase of families at the school requesting financial aid. They ended up caving a bit and offering a sort of mini aid package. You filled out a simple form verifying family income below a certain amount and agreed to a fixed tuition amount (not sliding scale) that was above the previous year but below the new amount. This worked for us and we ended up not needing to go throug...

From the thread title, I thought this was going to be about having a basement full of Beanie Babies, Pokemon cards, and whatever else you want to speculate will be valuable in the future!!

This depends on so many things. Some kids would respond well to online school, some would struggle with the format, and some would miss the human interactions that are part of the learning process. My kid did one year of online college during Covid. It was fantastic for her to get some generals finished up. Without the social interactions of college, she had plenty of time and got great grades. But she is the type that will seek answers if she doesn't understand something. I can remember walking in to her room one day and she was watching a Kahn Academy video on some physics topic because her professor did a poor job of explaining it and her only option to communicate with the professor was email. She also put off taking a required lab clas...

I don’t understand how historical data is useful. If I have, for example, $100k to invest right now, last year’s rates are irrelevant. I can choose one online bank that pays the most, then if another bank is outperforming my account by a meaningful amount, I will move my money.

As a teacher, I have noticed a sharp decline in good parenting. Going to the parents is no longer the solution that it once was. The kids will continue this behavior because there are little to no consequences. You need a different approach. I recommend a combination of parent contact, cameras and proof, law enforcement, and small claims court to force restitution. The parents will care more if they take a hit in the wallet for kids’ bad behavior.

I have a Jansport that I bought about 5 years ago at Kohls for $20 or $25. While some Jansport backpacks look like the bright colors you described, mine is just a solid tan color. It has a laptop sleeve in the back and a few more pockets. It’s pretty basic and nondescript but it has been quite durable so far.

I would have an attorney review the documents you signed and suggest loopholes. For example, it’s possible that you can purchase investment properties that you own but your children collect the cash flow. That’s just one random example, but an attorney can help you further with ideas that would be allowed per the contract.

financiallycurious wrote: ↑Tue Sep 27, 2022 9:51 am Catch a show at Tuacahn Amphitheater.

Thriller!!! You will be glad you did!

thedaybeforetoday wrote: ↑Tue Sep 27, 2022 5:39 pm Outswing doors have hinges exposed to the exterior and thus can be removed by you (or anyone else) from the outside.
Think safety.
If that doesn't matter, then it seems, given dry climate with no snow, do as you wish.

Yep, there is no reason to pick your lock. A thin screwdriver can pop out the pins and the doors come right off the hinges. It’s unbelievably easy to break in to an out swing door.

windaar wrote: ↑Sun Sep 25, 2022 10:21 am

Sandtrap wrote: ↑Sat Sep 24, 2022 9:53 pm Target Clearance.
17 dollars.

Could you give any more guidance? I can't find this anywhere on the Target site.

He was referring to me saying that I got mine about six years ago for $17 on clearance at Target. That may have been when they stopped making them, which would explain the clearance.

Sandtrap wrote: ↑Sat Sep 24, 2022 1:57 pm Used for decades:
Sunbeam Hot Shot
amazon:
https://www.amazon.com/gp/product/B000C ... UTF8&psc=1

But they are getting hard to find and are hugely overpriced from what they used to be.

I don't know what the alternatives are that work as well.????

j

I came to this thread to recommend the Hot Shot, I love mine! It also heats the water much more evenly than the microwave. I bought it on Target clearance for $17, about six years ago, but then it was about $35 regular price. I cannot believe they are $100 now!!

If they are at least 15, a Blue Cash or Blue Cash Preferred AMEX with them as an authorized user is an excellent option. You can set a credit limit for their specific card, but unlike prepaid, you can shut it down and not lose money if the card is lost or stolen. When my kid was in high school, we had it set at $150-200. Now she is in college and I set it at $600. It is very easy for me to raise/lower her limit as needed. Plus, her spending qualifies for rewards and cash back.

I guess I’m very biased, but one went up on my suburban street. Their very first booking was a Snapchat party where one person rents it, gets a music setup, alcohol, and who knows what else, puts the party info on Snapchat, and charges a cover at the door. Two hours later there is a fight in the street, a shooting, and two deaths. One died at the hospital but the other died on the scene so the body laid in the middle of the road for over 8 hours during the investigation. Not something I want any part of, especially since one of the investigators told me that these Snapchat parties at Airbnbs are becoming a regular thing.

Almost 5 years ago, my husband and I discovered a CD product at our local credit union that allowed you to continue to add to the CDs when you wanted. They had a $500 minimum so we figured we’d open some every few months and continue to “feed” the ones with the highest rates. We opened a few with 24, 36, 48, and 60 month maturities. We kept “feeding” the highest rate at each interval. It also allows a one-time withdrawal of up to 25% of the balance with no penalty. So we have ridden through the last 5 years of dismal interest rates with a bunch of CDs from 2.7-3.5%, just rolling money into the next interval as they expired. The last one expires in January 2023, just in time to hopefully catch rates on the rise again.

Where do you actually live? Do you have rent or a mortgage there?

My local bank offers a "youth savings" that ties to the parents' account. We set one up for our daughter when she was about 10. When she was younger, it paid $$ for good grades and had a few other kid perks. I can see her balance, transfer money in and out, etc. Her online login only gives her access to her own account. The account also has an optional debit card. When she graduated from high school, we gave her the option to open a different account, so she later opened an account at the credit union on her college campus, but she preferred to leave the youth account open and it has come in handy many times, I like that I can instantly transfer money to/from her account to ours and have set this up as her payment account for her ...

https://www.homedepot.com/p/Weber-22-in ... /100012014

The original Weber Grill. We had one of these for about 8 years and it was still plenty usable when we gave it away and got a gas grill.

I have not had good luck with generic canned items. It’s possible the food is the same, but the canning process seems to be subpar. When I buy a good named brand of canned tuna, beans, veggies, tomatoes, or fruit, I can drain the liquid and be left with whole pieces. The times I’ve tried generic, the food inside is smashed or in small pieces and the liquid is more like sludge and hard to drain.

I know this is a self-selected group, but I really wish more people understood how hard it is out there for lower-income people and first time homebuyers. The low end of the market has been absolutely crushed around me and rents are up substantially. Lots of people paying a high % to housing aren't making bad choices, they're just trying to keep a roof over their head or buy the cheapest house on the market while prices go up by double digit percentages every year. -signed, median family income ~$70k, median home price $570k, absolutely nothing for sale below $350k within 60 miles of town. I agree, and I really think that's why many people are posting that a percentage is a useless metric. I know when we purchased our current home, we work...

Another thing to keep in mind is that every year that you work is a year that you did not earn pension income while not working (huh?, I know). What I mean is, let’s just say for the sake of easy calculations that you make $100k. If you work until 51 instead of 50, you will make $32,250 starting that year but missed out on collecting $28,500 the year prior. So while you will get an extra $3750 a year, it takes you close to 8 years to break even. This is on pension alone, I know you can say that you earned $100k working that year, but that was employment income, not pension. Just another way of thinking about why delaying isn’t always the best option. Then there is the question of what you will do with your retirement time. Spending it with ...

Buy a national park pass since the daily entrance fees will add up. Would someone here comment on the current turnaround time for that purchase? On my 62nd birthday, I bought the retiree lifetime pass so my knowledge is dated. Mine was purchased at the gate to a national park, back in the old days. Bring a weather resistant sun hat, as you can get sunburned in November in those areas. Just a few weeks ago, we bought our national park pass at REI. If you do it that way, you walk out with it in your hand. Edit to add, if you happen to have a 4th grader, they get a free pass. Wait until after Labor Day to do it, the current passes expire this month, but it will reset to expire next August after Labor Day, or at least it has in past years. htt...

If you are using a 529 and qualify for AOTC, be sure to have that $4k liquid and ready to go.

Set up the payment portal in case you need to verify accounts.

My DD’s private school has the ability for the kids to approve and send an invite to a parent so parents can see transcripts, grades, payment portal, etc. it has been very helpful.

I joined the Reddit subgroup for my daughter’s school and was able to find a lot of valuable info there. For example, some kid took apart the meal plans and broke them down to cost per meal for each semester compared to paying by the meal. It was very informative and helped us decide which plan to choose.

You have time now, fill every remaining nook and cranny of the freezer with plastic bottles of water to freeze. The bigger the bottle the better. Just reuse milk jugs, pop and juice bottles, etc. that you can toss once this is over. About 24 hours before the shutoff, transfer some to the fridge and freeze a few more. The more stuffed to the brim the freezer is and the more frozen stuff you can put in the fridge ahead of time, the better. Also, for the freezer, make a "test bottle", I have one of these for any time we go out of town. Fill a wide-mouthed bottle (like a Gatorade bottle) half full of water and freeze it. Then drop in a few coins, screws, washers, or something similar. Fill it to the top and put it back in, so the item...

One big factor in how much money you will need is your housing situation. If you are in a LCOL or MCOL area of the country, you may consider purchasing something to live in to insulate yourself against increasing housing costs. I'm not saying this is what you SHOULD do, as it is very location-dependent, but it is a question when you are looking at making this money last 50+ years.

The second question is health insurance. At 22, it may very well be on your parents' plan but that will age out soon, or are you getting your health insurance somewhere else? You do not have to respond to these questions, and I know they are outside the scope of your original question, but they are factors for you to think about. Best of luck.