Search found 1137 matches

by LarryAllen
Tue May 14, 2019 5:11 pm
Forum: Personal Investments
Topic: refusing inheritance
Replies: 45
Views: 5000

Re: refusing inheritance

He could "disclaim" it within 9 months of death. Most likely his kids would have to disclaim too. This should be done with attorney oversight to make sure all consequences are considered.
by LarryAllen
Tue Mar 26, 2019 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Q: Family Responsibility for Deceased Brother Auto Accident Prior to Death
Replies: 57
Views: 4467

Re: Q: Family Responsibility for Deceased Brother Auto Accident Prior to Death

I would take a guess (but just a guess) that the family is only liable up to the extent they received assets from your brother. So if sis took the $4k I would think she could be liable for up to $4k. I can think of no reason why family would be liable for more than $4k. You were not your brother's k...
by LarryAllen
Wed Mar 06, 2019 12:10 pm
Forum: Investing - Theory, News & General
Topic: PGERS v. Wal-Mart Class Action
Replies: 6
Views: 481

Re: PGERS v. Wal-Mart Class Action

Every shareholder class action I have ever seen it's not worth the time to fill out the paperwork.
by LarryAllen
Tue Mar 05, 2019 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Inhereted Whole Life policy - what to do?
Replies: 22
Views: 1712

Re: Inhereted Whole Life policy - what to do?

I look at it a different way. If a $20k asset is a small'ish investment to you then cash it and put the cash with your other assets. That's what I would do. I don't like having my money spread out in small increments with different companies. On the other hand if you are uninsurable then maybe you s...
by LarryAllen
Tue Mar 05, 2019 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Inhereted Whole Life policy - what to do?
Replies: 22
Views: 1712

Re: Inhereted Whole Life policy - what to do?

I look at it a different way. If a $20k asset is a small'ish investment to you then cash it and put the cash with your other assets. That's what I would do. I don't like having my money spread out in small increments with different companies. On the other hand if you are uninsurable then maybe you s...
by LarryAllen
Mon Mar 04, 2019 10:29 pm
Forum: Investing - Theory, News & General
Topic: CD Laddering vs. Vanguard Prime Money Market Fund (VMMXX) ???
Replies: 18
Views: 3209

Re: CD Laddering vs. Vanguard Prime Money Market Fund (VMMXX) ???

I like CD ladder to get the FDIC insurance. What's insurance on the VMMXX?
by LarryAllen
Mon Mar 04, 2019 6:27 pm
Forum: Personal Consumer Issues
Topic: How do long haul moving company charge you?
Replies: 21
Views: 1441

Re: How do long haul moving company charge you?

I've told this story about a friend before. He was moving from Massachusetts to Texas. He sold everything he owned, including his goat and packed his volvo wagon and a small trailer with what he really had to keep. Once in Texas, he bought all new stuff (except for a goat). He had been given a movi...
by LarryAllen
Tue Feb 26, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?
Replies: 196
Views: 14760

Re: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?

Travel is a big one for us. We spent $65k last year on travel. That includes our kids. We plan to travel more in a few years when retired and kids are off at college. I could see spending $100k a year on travel for a while. Our total expected spend is between $350k-400k in retirement.
by LarryAllen
Tue Feb 19, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Extended Warranties
Replies: 48
Views: 2239

Re: Auto Extended Warranties

As others have pointed out for as little as you drive I would not bother with the warranty if it were me... unless you are one that would sleep better with the safety net. In the net it's $3,500 so it's not going to make or break you (I assume). So if you will not sleep soundly then just get it. The...
by LarryAllen
Tue Feb 19, 2019 1:42 pm
Forum: Personal Consumer Issues
Topic: Best PAID music streaming service?
Replies: 69
Views: 4232

Re: Best PAID music streaming service?

I had over 1,000 and sold about 500 (non-essential ones) to local used CD/vinyl shop. I don't remember but got a buck or two each on average. The last 500 will be harder even though I rarely play the actual CDs. It felt really good to get those drawers back... though only to quickly fill up with oth...
by LarryAllen
Thu Jan 10, 2019 7:08 pm
Forum: Personal Consumer Issues
Topic: Paying "cash" for auto - possibly w regular credit card?
Replies: 57
Views: 4588

Re: Paying "cash" for auto - possibly w regular credit card?

Many/most dealers won't accept credit cards. Some won't even accept personal checks and require a cashier's check. So you need to ask the dealer you're working with what they will accept. In California I have never had a dealer tell me no. In recent years they typically try to cap it at $3,500 but ...
by LarryAllen
Mon Dec 03, 2018 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Power of attorney for Mom?
Replies: 12
Views: 1022

Re: Power of attorney for Mom?

In many states a trust is better than a POA so do check that with an experienced estate attorney in mom's state of residence.
by LarryAllen
Sat Dec 01, 2018 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plan Worth It?
Replies: 16
Views: 1287

Re: 529 Plan Worth It?

I am expecting my kids to get full scholarships, if they end up trying, because many states offer it for SAT scores / GPA / community service hours that aren't that hard to achieve. The room and board is unlikely though...we just got it because of high scores / affirmative action. Are you LaVar Bal...
by LarryAllen
Thu Nov 29, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee of inherited business
Replies: 62
Views: 2789

Re: Trustee of inherited business

Met with the original lawyer today. Bottom line is he wants to follow through with his original recommendations from the summer iof 2017. Divide the shares of the company and put the property in an LLC. The reason he said he hadn't moved quickly is because he hadn't settled on what the buy/sell sho...
by LarryAllen
Thu Nov 29, 2018 1:28 pm
Forum: Personal Consumer Issues
Topic: Guy's Western US Ski Trip - suggestions?
Replies: 44
Views: 2580

Re: Guy's Western US Ski Trip - suggestions?

I love Tahoe. South Lake Tahoe is about an hour from the Reno airport or two hours from Sac airport. Casinos, nightlife, decent restaurants, etc.... We did the pub crawl one night. Met a ton of people. Fun times! Tons of lodging right at bottom of gondola so easy to get in and out.
by LarryAllen
Wed Nov 28, 2018 1:22 pm
Forum: Personal Consumer Issues
Topic: Electricity bill should be 7% per month of home sq footage.
Replies: 66
Views: 4106

Re: Electricity bill should be 7% per month of home sq footage.

I have never heard of the 7% but I would say that's a rule of thumb. In our area, for example, the two electric providers charge significantly different rates so people on the other side of the tracks pay much more. We are at about 11% between gas and electric.
by LarryAllen
Wed Nov 28, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Divorce [financial implications]
Replies: 109
Views: 14554

Re: Divorce [financial implications]

As to pre-nups I believe you can agree to almost anything in them. That is you clearly state what assets each party has before marriage and, presumably, that those assets and the growth remain the separate property of each. You could probably negotiate away spousal support if there was a divorce. I ...
by LarryAllen
Wed Nov 28, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Divorce [financial implications]
Replies: 109
Views: 14554

Re: Divorce [financial implications]

I have a slightly different take, in that I was on the receiving end of a hostile divorce, and lawyers were a must. The collaborative/single lawyer/mediation approach was suggested at one point, but there was nothing about my wife's approach that was oriented toward mediation or working anything ou...
by LarryAllen
Tue Nov 27, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: 25k Bonus - Tax Consequences?
Replies: 20
Views: 2428

Re: 25k Bonus - Tax Consequences?

Plan on getting to keep $10k. That way whatever you get to keep above that is gravy!
by LarryAllen
Tue Nov 13, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: When to follow up after job interview
Replies: 18
Views: 1081

Re: When to follow up after job interview

I think it depends on the type of job. I have hired for sales type jobs and the person is not getting hired if they don't follow up a couple times and preferably more than just an email. Note I said "sales type" job with emphasis on type. Anything where you might deal with the public or at least tan...
by LarryAllen
Tue Nov 13, 2018 9:42 am
Forum: Personal Consumer Issues
Topic: Return on CC that I actually did not return??
Replies: 6
Views: 680

Re: Return on CC that I actually did not return??

I am confused. Our Sam's Club membership ended 10 days ago so I bought about $35 of food nothing exciting. Today it said the entire amount was returned onto my American Express...but I didn't return any of the food and I am no longer a member. Any idea why? Thanks. The only thing I can guess is it ...
by LarryAllen
Mon Nov 12, 2018 9:27 pm
Forum: Personal Consumer Issues
Topic: Granddaughter needs $ help for university
Replies: 111
Views: 10196

Re: Granddaughter needs $ help for university

It's nice of you to help. Good luck to your Granddaughter!
by LarryAllen
Mon Nov 12, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Would you invest CC cashback into market??
Replies: 32
Views: 1633

Re: Would you invest CC cashback into market??

I'd take the 20% discount.
by LarryAllen
Sat Nov 10, 2018 2:40 pm
Forum: Personal Consumer Issues
Topic: tipping for grocery delivery
Replies: 53
Views: 4188

Re: tipping for grocery delivery

Tipping is out of control in this country +1, not only out of control it is now assumed to be at a ridiculous percentage AND for just poor to average service. It used to be 10% gratuity for GOOD service, now they assume 18-20% for poor to average service. And everywhere you go there is that little ...
by LarryAllen
Sat Nov 10, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Chase points - what's the point of buying gift cards
Replies: 30
Views: 2699

Re: Chase points - what's the point of buying gift cards

Or maybe spend $800 for the Iphone Xr. It's the newest one. Longer battery life and water proof. I moved from a 7 to the Xr and really like it so far. It's $250 cheaper than the first X model (whatever it's called).
by LarryAllen
Fri Nov 09, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1522

Re: Career/Life Advice Needed - When to start a business?

I missed their age. I would definitely work the corporate gig longer. Life is long and full of twists and turns. Keep stock piling that cash while you can.
by LarryAllen
Fri Nov 09, 2018 9:11 am
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1522

Re: Career/Life Advice Needed - When to start a business?

Why do you only have $1.5m net worth with $500k income? Seems low. I would stick it out a few more years. I would also drill down carefully on the expenses to be sure they are accurate to include health care for example. Good luck.
by LarryAllen
Thu Nov 08, 2018 1:04 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7772

Re: Do people calculate savings rate on gross income?

Too much thinking for me. I save a lot but not as much as I wish I did. Net, gross, whatever.
by LarryAllen
Tue Nov 06, 2018 10:14 pm
Forum: Investing - Theory, News & General
Topic: USAA getting out of mutual fund biz
Replies: 46
Views: 7518

Re: USAA getting out of mutual fund biz

That's surprising but I trust USAA so it shows to me that they realized they couldn't reinvent the wheel. Never heard of Victory.
by LarryAllen
Tue Nov 06, 2018 10:12 pm
Forum: Personal Consumer Issues
Topic: Paper or Paperless? How and what financial records do you keep?
Replies: 51
Views: 3988

Re: Paper or Paperless? How and what financial records do you keep?

I save very little paper. Original deeds, estate documents, and some misc. items that don't scan well.
by LarryAllen
Tue Nov 06, 2018 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 15477

Re: How much money are you leaving your kids after you die?

I would hope to leave each kid at least $1m. Really though what's $1m 50 years from now!?
by LarryAllen
Tue Nov 06, 2018 9:15 pm
Forum: Personal Consumer Issues
Topic: Need ideas for unusual gifts for preteen boy
Replies: 27
Views: 1797

Re: Need ideas for unusual gifts for preteen boy

A share of stock like Disney or something of interest to them.

Or computer/video game anything.
by LarryAllen
Tue Nov 06, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Never thought of living in Bay Area but just got a call from Tesla
Replies: 72
Views: 7739

Re: Never thought of living in Bay Area but just got a call from Tesla

I'm just a random person on the internet, but I would not recommend to a close friend/family member to go work for Tesla. I find the entire business model of Telsa extremely shaky. If there is a recession anytime soon, Telsa will likely have trouble selling vehicles, driving cash flow declines. Thi...
by LarryAllen
Sun Nov 04, 2018 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 8218

Re: Teaching kids there is an ample amount of money

We live in a high income area so we truthfully tell them they have friends at school whose parents have more money and friends with less. We don't tell them that there are very few with more. We live in a very nice but not the guard gated neighborhood down the street and I never tell them we could a...
by LarryAllen
Thu Nov 01, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Starting a small wholesale/resale biz at local collective market -- should it be an LLC?
Replies: 7
Views: 725

Re: Starting a small wholesale/resale biz at local collective market -- should it be an LLC?

I wouldn't bother setting up an LLC as it sounds like a pretty low risk endeavor at this point. If you start selling a ton of stuff then flip it into an LLC.
by LarryAllen
Thu Nov 01, 2018 8:44 am
Forum: Personal Consumer Issues
Topic: Re-doing a trust, contingent beneficiary question
Replies: 12
Views: 1075

Re: Re-doing a trust, contingent beneficiary question

After sitting on it for two weeks, we decided to leave the contingent beneficiary list stand as is. As we allow term life policies to lapse, we will revisit the situation again in due time. Does anyone know if we can modify the list ourselves at some future date or do we need to incur more legal ex...
by LarryAllen
Wed Oct 31, 2018 8:28 pm
Forum: Personal Investments
Topic: Where should I be financially at 39?
Replies: 42
Views: 6039

Re: Where should I be financially at 39?

I would more look at how frugally you can live, if you can pick up some side hustles, and how much you can save going forward. SAVE SAVE SAVE! I would be obsessive about it for the next 10 years and then see where you are at. You are ahead of many because you are at least aware that you need to be s...
by LarryAllen
Wed Oct 31, 2018 10:53 am
Forum: Personal Investments
Topic: How much for retirement ?
Replies: 21
Views: 2371

Re: How much for retirement ?

Save as much as you can while you are young because those dollars are worth a ton with compounding. keep up the good work!

P.S. However, don't forget to live life too. :)
by LarryAllen
Tue Oct 30, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9666

Re: Girlfriend's Student Loans

Pretty funny everybody judging a young lady for being so "irresponsible" for taking out $100k debt to become a teacher. I presume she was about 22 when she did that. Most of us are not rocket scientists at 22. I hate to think she is tattooed with a scarlet letter just because of a not great choice ...
by LarryAllen
Mon Oct 29, 2018 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Sell land at a loss or keep?
Replies: 38
Views: 2979

Re: Sell land at a loss or keep?

List it for sale while you think about it. Just start high. $75k to start. Good luck! I don't think that strategy in real estate generally works? You discourage all the casual buyers, or those with a particular shopping list and a price. If they see a price that is not a bargain, that may be well o...
by LarryAllen
Mon Oct 29, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Sell land at a loss or keep?
Replies: 38
Views: 2979

Re: Sell land at a loss or keep?

List it for sale while you think about it. Just start high. $75k to start. Good luck!
by LarryAllen
Sun Oct 28, 2018 6:41 pm
Forum: Personal Investments
Topic: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?
Replies: 13
Views: 1504

Re: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?

I believe y'all are talking about gift tax limits. However, if you have less than $11m it's really academic. You can give what you want to a 529 and, at most, file a 709 gift tax return. Actually, the number to be concerned about isn't $11M but half of that. Because under current tax law, the Feder...
by LarryAllen
Sun Oct 28, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 162
Views: 13158

Re: Am I doing well financially?

Mortgage jumped out at me as high. My income is about triple your combined income and we have the same mortgage. So that caught my eye.

You are doing fine overall.

Hopefully you keep doing better. Lots of good advice on this website.
by LarryAllen
Thu Oct 25, 2018 9:20 pm
Forum: Personal Investments
Topic: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?
Replies: 13
Views: 1504

Re: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?

I believe y'all are talking about gift tax limits. However, if you have less than $11m it's really academic. You can give what you want to a 529 and, at most, file a 709 gift tax return.
by LarryAllen
Thu Oct 25, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Exotic Car Financing
Replies: 37
Views: 1740

Re: Exotic Car Financing

HardHitter wrote:
Thu Oct 25, 2018 7:47 am
Does the logic below make sense?
There is little "sense" in this type of purchase. It can work out but it's more "luck" than "sense" in my opinion.
by LarryAllen
Mon Oct 22, 2018 5:37 pm
Forum: Personal Investments
Topic: My Edward Jones IRA is out performing my Vanguard 401K
Replies: 76
Views: 10664

Re: My Edward Jones IRA is out performing my Vanguard 401K

New member here. After reading all the threads on the internet about how Edward Jones has really high fees, I have been considering moving my Edward Jones IRAs to Vanguard or Fidelity based on everyone's recommendations. However, my current Vanguard 401K (2045 target fund portfolio) has a YTD retur...
by LarryAllen
Mon Oct 22, 2018 1:09 pm
Forum: Personal Consumer Issues
Topic: Quitting w/o notice
Replies: 132
Views: 8987

Re: Quitting w/o notice

OP, 2 weeks (or whatever time period) notices are total B.S., if you're on at-will employment agreement. Recommendations needn't be only from your past employer, they can be from your co-workers or your past to past employers/co-workers etc. Also, don't confuse this with "employment verification" ....
by LarryAllen
Mon Oct 22, 2018 9:38 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 248
Views: 26520

Re: PSA: Don't buy a big house

What stick? https://www.homedepot.com/p/Commercial-Electric-11-ft-Pole-Light-Bulb-Changer-Kit-with-Attachments-CE-600SDLB12/100354521?cm_mmc=SEM%7CG%7CBase-NE%7CD27L%7C27-1_LIGHT_BULBS%7CNA%7CNA%7CDSA%7CAll+l_DE1+ef66%7c71700000038816640%7c58700004243074627%7c39700035245912516%7c1263867506-55953433...
by LarryAllen
Mon Oct 22, 2018 9:05 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 248
Views: 26520

Re: PSA: Don't buy a big house

We changed all smoke detectors to the kind with the 10 year battery. They work great as far as I know. We have a long stick thing to change the light bulbs. It was about $5 or $10 at Home Depot. That plus a regular ladder should get you to the high ceiling light bulbs. Get super long life bulbs that...