Search found 229 matches

by amindu
Wed Feb 14, 2024 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Is my CPA nickel and diming me?
Replies: 18
Views: 2935

Re: Is my CPA nickel and diming me?

I own two small businesses and admit that taxes can be tricky. We got a new CPA last year because our last one of years retired. We just received an invoice for bookkeeping services for last year. It is higher than I was expecting but I’m a little perplexed by these two billings on the invoice; “Reviewing and sending question to client” “Meeting with other staff member to go over questions to discuss with client” Are these typical charges one would expect to see when receiving an invoice from a CPA? Not something I would send a bill for, that should be part of the compliance fee, assuming he gave you a quote for your work up front. If he’s filing late who is going to cover any penalties and interest if assessed by the IRS? I would find som...
by amindu
Tue Jan 23, 2024 10:22 am
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 41938

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

Happy Birthday, Taylor! Best Wishes
by amindu
Wed Jan 03, 2024 12:54 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

If the real estate is negatively cash flowing, it is not an investment . It is a speculation that its value will increase over time. When you invest in an index fund, your are investing in many companies future positive cash flows (or anticipated cash flows), which is reflected in their stock prices and the index. No - you are being what we call "wise". I know this is an antiquated term and the get rich quickly crowd may not like it but "hoping" for capital appreciation on a home (which has historically been the rate of inflation) is foolish in my mind. The fact that these people are financing the houses tells me they are very unaware of the amount of risk they are actually taking on for the "hope" of making m...
by amindu
Wed Jan 03, 2024 11:39 am
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

I wouldn't expect most real estate to be cash flow positive on PITI, just on ITI, the principal parts of the payment are not really costs (but are large opportunity costs). Also fixed rate US mortgages front load the interest payments so you might be negative on them at first as well, even if it's a reasonable real estate investment. Still, it's probably a big concentration into one asset in your portfolio, and I tend to think most single family homes are relatively crummy assets even in the best of times. They tend to loose out to the s&p on both diversification and return. You'll probably make less than the big REITs (who's financials are public), and they don't over perform the s&p. It's quite possible to loose money as well. Pe...
by amindu
Tue Jan 02, 2024 8:14 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

the_wiki wrote: Tue Jan 02, 2024 1:55 pm in 2024, I can say it was definitely an incredible idea to invest in Real Estate back in 2016.

I'll get back to you in 2032 on whether it was a good idea in 2024.
Lol
by amindu
Tue Jan 02, 2024 1:45 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

Couple additional facts to share not sure if that would change the response however Lockheed Martin is the major employer in the area, and the subdivision is getting their own high school and has land committed for elementary and middle school. That means a lot will be riding on how big DoD budgets are over the next several years AND what percentage of those budgets Lockheed wins contractor bids for. (unless something has changed about Lockheed's business which I am unaware of). Good point, never thought about this risk given Lockheed being a Fortune 500 company. Good lord your friends are not the smartest. The appreciation rate would have to be 2-5x of normal stock market returns to make the risk even borderline worthwhile. Property Taxes...
by amindu
Tue Jan 02, 2024 12:45 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

Couple additional facts to share not sure if that would change the response however Lockheed Martin is the major employer in the area, and the subdivision is getting their own high school and has land committed for elementary and middle school.
by amindu
Tue Jan 02, 2024 10:32 am
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

Thank you all for sharing your thoughts and confirming my thought process as well on the opportunity. Appreciate the insight from those with more experience.
by amindu
Mon Jan 01, 2024 5:28 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

onourway wrote: Mon Jan 01, 2024 3:30 pm Appreciation should not be assumed when investing in RE. There are many (most?) places where RE tracks pretty close to inflation. So while the numbers get bigger, prices are just treading water.

That said, most people I speak to about their RE investments make assumptions regarding expected appreciation. Outside of this forum I keep pretty quiet when discussing financial matters. To them I smile and change the subject. Here I'll strongly argue that RE is a business, not an investment, and those are two very different things.
Interesting perspective on business vs investment, thanks for sharing
by amindu
Mon Jan 01, 2024 3:07 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Re: Am I missing the big picture

Thanks all for your thoughts.

@Klangfool - not sure exactly what rate but I imagine you have to clear around 6-8% appreciation a year and have an overall rate of return of around 10-12% to make it worth while. What I don’t know is if that rate is cash on cash return or whole purchase that you factor in.

One thing I noticed is no one commented on the possible appreciation so is that not something that should be taken into account for the upside to investing in RE?
by amindu
Mon Jan 01, 2024 12:05 pm
Forum: Personal Investments
Topic: Am I missing the big picture
Replies: 32
Views: 5936

Am I missing the big picture

Looking to get some advice as I am struggling with understanding if I am failing to look at the big picture and overall being too conservative with investing in RE. I realize this is BH but we have a lot of folks that hold multiple asset classes. A few friends went in and each bought new construction SFH ($350k plus 20% down) in the DFW area specifically West Forth Worth (providing this info for anyone that knows the area) with the hope to make money of appreciation as the properties are negative cash flow if only considering PITI, and prop management, this does not include vacancy or anything else. Given new construction maintenance should be minimal as there is a warranty for the first year. The property will be cash flow negative estimat...
by amindu
Sat Dec 30, 2023 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Rate of return on primary residence
Replies: 56
Views: 6795

Re: Rate of return on primary residence

Jack FFR1846 wrote: Sat Dec 30, 2023 9:56 am My first house was easy. We bought it in 1995 for $125k. We sold it in 1992 for $125k. Don't even need a slide rule for that one.
What? Do you mean you bought in 1992 and sold in 1995?
by amindu
Tue Oct 24, 2023 9:50 pm
Forum: Personal Consumer Issues
Topic: Roomiest 3rd row SUV
Replies: 41
Views: 5446

Re: Roomiest 3rd row SUV

I've looked at the Highlander Hybrid (best mpg) but the 3rd row looks cramped. Toyota is going to debut the new 2024 Grand Highlander in about two weeks on February 8, 2023 at the Chicago Auto Show. No pictures (aside from a blurry teaser image) or specfications yet but it will be a larger version of the current Highlander and will have a hybrid powertrain. No one is sure which hybrid powertrain though. Guesses are either the one in the current Highlander Hybrid and/or the more powerful one that is in the Toyota Crown sedan. No on sale date or pricing announced yet but will probably be on sale sometime later this year. https://www.caranddriver.com/toyota/grand-highlander https://pressroom.toyota.com/all-new-toyota-grand-highlander-to-make-...
by amindu
Mon Oct 23, 2023 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Planning to do IVF - Cost and Tips
Replies: 66
Views: 9285

Re: Planning to do IVF - Cost and Tips

Thank you. Anyone had luck/did so shopping around ie getting competing IVF quotes (within same city) to negotiate a lower price at a preferred clinic? I would want to see if it is normal in IVF space. I think you should be more focused on results, a clinic that is just starting up may cut pricing but one that is established with a good track record will not. Personally we went to the best clinic in town with the best ARTS department. Paying for it once, vs getting a discounted rate and possibly having to do it more than once negates any savings. Those that are experienced will know exactly how to tweak things to be successful. This is just my opinion. Plus IVF is mental torture, last thing you want is to try to approach this financially to...
by amindu
Thu Oct 19, 2023 11:21 pm
Forum: Personal Consumer Issues
Topic: Should I trade in my BMW X5 for Toyota Grand Highlander Hybrid Limited?
Replies: 48
Views: 5316

Re: Should I trade in my BMW X5 for Toyota Grand Highlander Hybrid Limited?

I am debating whether or not I should trade in my 2020 BMW X5 for a 2024 Toyota Grand Highlander Hybrid Limited. My BMW has 45k miles and I’ve had not issues - love the vehicle. I own the vehicle outright and it’s completely paid off. However, I’d like a little more room for the wife/kids/dog/cargo for road trips. I also feel like my BMW X5 “sticks out” and I just don’t want my neighbors etc to assume that I have money and drive a “flashy” car (I think BMW is much less flashier than most). But mostly, I’m concerned that the maintenance costs on the BMW will be high after my extended warranty expires (in 2024) and that it would make sense to get more value from the vehicle now in a trade-in. Toyotas are reliable, great cars and I would plan...
by amindu
Sun Oct 08, 2023 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Planning to do IVF - Cost and Tips
Replies: 66
Views: 9285

Re: Planning to do IVF - Cost and Tips

Hi Fam - After 2 years of trying, my wife (35 yo) and I (34 yo) decided to do IVF. We are in Texas. Looking for advice from those who went through the process: 1) My company's group insurance plan may or may not provide IVF coverage for 2024: so far (before the official announcement), HR told me there should be lifetime coverage of $25k. I know that I need to talk to the group insurance provider to get the details (if coverage will be there - I will know in late Oct-2023), but any knowledge from your experience on how you minimized out-of-pocket expenses and got more "bang out for your buck"? 2) If it plays out that there will be no IVF coverage, and it was the case for you - how did you minimize procedure expenses i.e. had no in...
by amindu
Thu Aug 17, 2023 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Advice On Home Sale Dilemma
Replies: 49
Views: 4978

Re: Seeking Advice On Home Sale Dilemma

Hello Bogleheads community, I hope this message finds you all well. I am writing to seek some valuable advice and insights regarding a predicament I find myself in regarding the sale of my current home. Back in 2020, I purchased a home in an up-and-coming area of DFW with the intention of living comfortably while also investing in a neighborhood that was undergoing positive changes. The initial purchase price of this home was $457K. I put down a substantial amount of $257k (inheritance money) and additionally invested $60k through a HELOC to update both the backyard and interior of the house, with the optimistic hope of selling the home at a profit, or at least a breakeven of my initial investment. However, three years have passed since th...
by amindu
Tue Aug 15, 2023 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Advice On Home Sale Dilemma
Replies: 49
Views: 4978

Re: Seeking Advice On Home Sale Dilemma

Hello Bogleheads community, I hope this message finds you all well. I am writing to seek some valuable advice and insights regarding a predicament I find myself in regarding the sale of my current home. Back in 2020, I purchased a home in an up-and-coming area of DFW with the intention of living comfortably while also investing in a neighborhood that was undergoing positive changes. The initial purchase price of this home was $457K. I put down a substantial amount of $257k (inheritance money) and additionally invested $60k through a HELOC to update both the backyard and interior of the house, with the optimistic hope of selling the home at a profit, or at least a breakeven of my initial investment. However, three years have passed since th...
by amindu
Thu Sep 01, 2022 2:22 pm
Forum: Personal Consumer Issues
Topic: Cruise Line Preferences and Comparisons
Replies: 41
Views: 5108

Re: Cruise Line Preferences and Comparisons

Disney, then Royal.
by amindu
Mon Aug 29, 2022 10:09 pm
Forum: Personal Consumer Issues
Topic: What is the BEST adventure vacation you’ve taken?
Replies: 90
Views: 10066

Re: What is the BEST adventure vacation you’ve taken?

Mediterranean Cruise from Venice to Barcelona, going through ports in Italy, Greece, Turkey, France, Spain. Was an amazing trip with very full days.
by amindu
Wed Aug 10, 2022 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Put down 20% or entire gain?
Replies: 10
Views: 1381

Re: Put down 20% or entire gain?

Thanks everyone for the responses, some things to consider for me. Hi All - I am struggling with trying to make a decision as to which is the better route to take. My current home is up for sale and we have enough equity to put down more than the 20% required. We could possibly put down 35%. For numbers sake and to keep it simple, lets say the purchase price is $1M, $200K down, but the sale from my current home would yield $350K. So the question is do I put the min 20% down and put the rest $150K in VTSAX or do I just roll the entire gain into the new home? Retirement horizon is 20 years. The interest rate i am looking at on the new home is a 5/5 ARM at 3.75%, the plan would be to recast this in the next couple years to a fixed product hope...
by amindu
Wed Aug 10, 2022 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Put down 20% or entire gain?
Replies: 10
Views: 1381

Put down 20% or entire gain?

Hi All - I am struggling with trying to make a decision as to which is the better route to take. My current home is up for sale and we have enough equity to put down more than the 20% required. We could possibly put down 35%. For numbers sake and to keep it simple, lets say the purchase price is $1M, $200K down, but the sale from my current home would yield $350K. So the question is do I put the min 20% down and put the rest $150K in VTSAX or do I just roll the entire gain into the new home? Retirement horizon is 20 years. The interest rate i am looking at on the new home is a 5/5 ARM at 3.75%, the plan would be to recast this in the next couple years to a fixed product hopefully around the 3% mark. My CU offers a way to pay $1,500 and chan...
by amindu
Sun Oct 24, 2021 11:32 am
Forum: Personal Consumer Issues
Topic: EDIT w/offer: Current car buying market & Lexus 450h
Replies: 21
Views: 2219

Re: EDIT w/offer: Current car buying market & Lexus 450h

Hey Bogleheads - We're in the market for a family SUV that will last and be durable to two kids. We're looking at the Lexus 450h and would plan to pay cash for the vehicle we end up buying. I'm just struggling mentally with car prices right now/the car buying market in general and don't want to end up regretting the purchase in a few years. How are others dealing with the current buying market? Should we wait it out 1-2 years? This seems like a great long-term reliable car, but we'll undoubtedly pay a premium for it in the current market...how would you handle?' EDIT: Dealer is offering $1,000 off MSRP...thoughts? Many thanks! Shop a lot of dealers including out of state. In nov 2020 I got 12% off a new 2021 RX 350. They barely had any veh...
by amindu
Sat Oct 23, 2021 12:09 am
Forum: Personal Consumer Issues
Topic: Wanting to switch from Verizon cell service and would like your experiences.
Replies: 18
Views: 1694

Re: Wanting to switch from Verizon cell service and would like your experiences.

Horologium wrote: Fri Oct 22, 2021 11:28 pm I've been with a couple of different providers and a couple of MVNOs to try and save money. I ended up going back to Verizon because no other provider can match the quality of their network.
This !!

We were with Verizon for over a decade left 10 months ago to ATT because of their IPhone 12 deals and Verizon wasn’t doing anything for existing customers, we came back 3 weeks ago to Verizon. Could not get any service phone or data through ATT and we live where ATT is headquartered.
by amindu
Sat Oct 02, 2021 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Economics / Accounting track at a non-Ivy / "non-prestige" school outcomes
Replies: 86
Views: 6995

Re: Economics / Accounting track at a non-Ivy / "non-prestige" school outcomes

Looking for advice for high schoolers here. At last look, Economics appears to be an "impacted major" at almost all UC schools. Accounting is not offered as a track in many schools. Kids in question do NOT want to go the CS / MD route. They are interested in and would probably do really well in Business / Finance. They are bright but - unfortunately - not academically studious. But they have potential and want to study Economics or Accounting. One career path that I've seen giving excellent returns is getting into an Ivy, graduating in Economics / Business Management, landing an internship at one of the Big 3 consulting companies in undergraduate junior year, graduating and then - hopefully - getting a job offer to work at same c...
by amindu
Fri Sep 17, 2021 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

celia wrote: Thu Sep 16, 2021 10:14 pm
baconavocado wrote: Thu Sep 16, 2021 5:14 pm We hired a buyer's agent when buying a new house and they were completely worthless, essentially ended up representing the builder's interests. She discouraged us from doing a pre-sale inspection which turned up several significant defects.
This is what I would expect. The builder pays the realtor 3%, who in turn gives you 1% to squash your requests/ complaints. The builder then says to talk to your realtor, instead.
Thanks I see your point.
by amindu
Thu Sep 16, 2021 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

Is she charging you? If you are tempted, I would do 90 day increments. It will keep her hungry. No nothing comes out of my pocket the Buider pays her the 3% commission and she gives me 1% back at closing, and keeps 2%. Follow the money. The builder pays her, and you think she is going to be looking out for your interests during the build? You are one transaction, the builder probably does dozens of these types of deals every year. If there is some issue, you think the realtor is going to risk cutting off thay gravy train? I am skeptical. True however I would still have final say either way, and if I don’t like the advice she’s giving I can ignore it. I guess it would be no different if I didn’t have a realtor either way I would be making a...
by amindu
Thu Sep 16, 2021 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

We are getting 1% back from her with new construction (builder pays her commission) and if problems arise she can jump in to take care of it especially given now with labor, supply shortages, to do what’s in our best interest. To be clear, you are buying a real estate agent 2% for a new home build? I don’t feel like you are going to get your money’s worth. For that kind of money you could probably hire someone who actually knows construction (say a GC) to come inspect the build several times and provide feedback. I am not paying her anything if I don’t bring a realtor the builder pays nothing if I bring a realtor the builder pays 3%. Either way with or without a realtor there’s nothing out of my pocket. Gotcha. Now I get it. It does beg th...
by amindu
Thu Sep 16, 2021 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

ScubaHogg wrote: Thu Sep 16, 2021 5:27 pm
amindu wrote: Thu Sep 16, 2021 4:48 pm We are getting 1% back from her with new construction (builder pays her commission) and if problems arise she can jump in to take care of it especially given now with labor, supply shortages, to do what’s in our best interest.
To be clear, you are buying a real estate agent 2% for a new home build? I don’t feel like you are going to get your money’s worth. For that kind of money you could probably hire someone who actually knows construction (say a GC) to come inspect the build several times and provide feedback.
I am not paying her anything if I don’t bring a realtor the builder pays nothing if I bring a realtor the builder pays 3%. Either way with or without a realtor there’s nothing out of my pocket.
by amindu
Thu Sep 16, 2021 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

PoppyA wrote: Thu Sep 16, 2021 5:26 pm Is she charging you?

If you are tempted, I would do 90 day increments. It will keep her hungry.
No nothing comes out of my pocket the Buider pays her the 3% commission and she gives me 1% back at closing, and keeps 2%.
by amindu
Thu Sep 16, 2021 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

baconavocado wrote: Thu Sep 16, 2021 5:14 pm We hired a buyer's agent when buying a new house and they were completely worthless, essentially ended up representing the builder's interests. She discouraged us from doing a pre-sale inspection which turned up several significant defects.
We did phase inspections on our first home when it was being constructed and plan to do the same. She encouraged this as well.
by amindu
Thu Sep 16, 2021 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

We are getting 1% back from her with new construction (builder pays her commission) and if problems arise she can jump in to take care of it especially given now with labor, supply shortages, to do what’s in our best interest. I’ve heard of a builder-paid realtor for spec homes in a development I.e. the home is being built whether I buy it or not...but if I buy I get to choose the carpet, trim package etc. 1. Why on earth would I want a middleman between me and the builder (if I want to politely “yell at” the builder for an issue? 2. Having a go-between does not protect you.* The language of the contract *with the builder* protects you - look for something about cost overruns for labor, how your design changes are handled, increased materi...
by amindu
Thu Sep 16, 2021 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

hotscot wrote: Thu Sep 16, 2021 4:55 pm
amindu wrote: Thu Sep 16, 2021 4:48 pm and if problems arise she can jump in to take care of it
She's has a contractors license?
Sorry, I've built before but I've never heard of this arrangement.
No, however due to supply shortages builders are cutting corners by substituting products that aren’t apples to apples so that is where she could possibly come in if we are not happy with the substitution. She is also driving around to other communities to check out the other builder we are interested in. Being in the industry she may have more information than what we would be able to gather especially when trying to negotiate design credits and what not which a lot of builders are not doing anymore.
by amindu
Thu Sep 16, 2021 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Re: Buyer Rep Letter - New House

We are getting 1% back from her with new construction (builder pays her commission) and if problems arise she can jump in to take care of it especially given now with labor, supply shortages, to do what’s in our best interest.
by amindu
Thu Sep 16, 2021 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer Rep Letter - New House
Replies: 24
Views: 2209

Buyer Rep Letter - New House

Hello - we have a realtor who is asking to sign a buyer rep letter for a period of 1 year is this normal standard of practice when buying a home? We will be building and right now it takes about 1 year to build so not sure if she is doing it for a year to cover that entire period for representation, or if we should ask for a 3-6 month period instead? Thanks.
by amindu
Tue Sep 14, 2021 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: should daughter negotiate first job offer?
Replies: 109
Views: 8849

Re: should daughter negotiate first job offer?

You can always see if they are willing to do a signing bonus, that's how I negotiated my very first offer out of college, and was a win-win for both parties.
by amindu
Tue Sep 14, 2021 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: 20% down and invest the rest from House Sale
Replies: 0
Views: 503

20% down and invest the rest from House Sale

Hello All - we are in the process of selling our home and purchasing a new one. Given that we have equity in the house beyond the 20% required down on the new house should we just put all of it in the new place or invest the difference in the market? Have 20 years before we get to retirement age. All tax advantaged are maxed out, backdoor Roth is maxed out. Additional proceeds would go into the taxable account.

Thanks.
by amindu
Tue Sep 14, 2021 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Is there such a refinancing rule in Texas?
Replies: 7
Views: 1113

Re: Is there such a refinancing rule in Texas?

you also cannot refinance for another 12 months.
by amindu
Wed Jul 21, 2021 3:46 pm
Forum: Personal Consumer Issues
Topic: Carseats for Baby
Replies: 52
Views: 3600

Re: Carseats for Baby

Check out the Clek Liing. We wanted something built in North America, and they are built at their factory in Canada.

https://clekinc.com/products/infant-seat/liing/
by amindu
Tue Jul 20, 2021 1:38 am
Forum: Personal Finance (Not Investing)
Topic: Texas Cash Out refi
Replies: 1
Views: 359

Re: Texas Cash Out refi

You have to wait a year from Nov/Dec 2020 whenever closing was before you can refi, it’s a dumb Texas rule. You can confirm that by calling up any title company and they will tell you. I was in the same boat.
by amindu
Thu Jul 15, 2021 8:54 pm
Forum: Personal Consumer Issues
Topic: New Toyota Sequoia?
Replies: 42
Views: 5445

Re: New Toyota Sequoia?

Family of 5 here. Kids 10, 8 and 2. Currently driving a 2007 Toyota Camry 163k miles and a 2011 Toyota Highlander 149k miles. Both running fine and well maintained. I am considering purchasing a new Seqioia next year sometime and trading in or selling the Camry. I have enough to pay cash for a new base level Sequoia ..about 65k with tax. I realize they’re not the best car for creature comforts etc but it’s that Toyota reliability that draws us back. Reasoning for a Sequoia over a minivan is the hauling capacity (we have a boat) and we just like it more. Is this reasonable or should we just keep grinding out the miles in these Toyota’s we have that never seem to quit? 41 y.o. 1.3 million in investments 250-275k income Saving 75k year retire...
by amindu
Thu Jul 15, 2021 4:47 pm
Forum: Personal Consumer Issues
Topic: Should We Return to Cruising?
Replies: 58
Views: 6017

Re: Should We Return to Cruising?

we have a disney cruise booked in September 2022 and a RCL one booked in December 2022. We figure by then they will have all this worked out.
by amindu
Thu Jul 15, 2021 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card
Replies: 104
Views: 43949

Re: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card

Chalk me up as a tax attorney who disagrees with the two tax attorneys you spoke to. First, the IRS has not (yet) conceded that credit card rewards are per se nontaxable. Second, I couldn't care less whether Morgan Stanley or any other bank thinks certain items are taxable. This is a benefit provided for maintaining an account. It is not a sign-up bonus or something of that nature. Further, in order to maintain this particular type of credit card, you are required to maintain an account with Morgan Stanley which links the Amex card to the bank account. And you have to have the Amex card in order to get this payment. Some other similar types of benefits to consider in evaluating whether this reimbursement should be treated as interest incom...
by amindu
Wed Jun 30, 2021 11:54 pm
Forum: Personal Consumer Issues
Topic: Which 7 seater SUV?
Replies: 89
Views: 13780

Re: Which 7 seater SUV?

If you are looking for one where the third row is actually useable by adults and/or just more cargo space then something like a Tahoe, Armada would do the job.
by amindu
Tue Jun 15, 2021 10:59 am
Forum: Personal Investments
Topic: PRIMECAP vs S&P500?
Replies: 42
Views: 7628

Re: PRIMECAP vs S&P500?

Thanks. Oh well. :mrgreen: :o Seems it will be quite a while before I hit this status :D There is a backway into POAGX (PRIMECAP Odyssey Aggressive Growth Fund) which is a closed fund, and you don't have to be flagship to purchase, and there is no max limit. Once you buy a couple shares in the 529 plan you can have vanguard buy more shares into a brokerage account and/or a tax preferred, I suggest Roth. https://www.bogleheads.org/forum/viewtopic.php?f=10&t=257204 Thanks. Why do I need to buy this in a 529 plan? I do not have a 529 plan, I have a taxable account as well as a roth account though. Click on the link I sent it will walk you through it. You have to open an account with TN 529 buy a couple shares in there then you are conside...
by amindu
Tue Jun 08, 2021 12:28 am
Forum: Personal Investments
Topic: PRIMECAP vs S&P500?
Replies: 42
Views: 7628

Re: PRIMECAP vs S&P500?

Can you please let me know what a flagship customer is? My interest is peaked as well. This is very interesting and I have never heard about this before. See link: https://investor.vanguard.com/investing/benefits/flagship Regards, Thanks. Oh well. :mrgreen: :o Seems it will be quite a while before I hit this status :D There is a backway into POAGX (PRIMECAP Odyssey Aggressive Growth Fund) which is a closed fund, and you don't have to be flagship to purchase, and there is no max limit. Once you buy a couple shares in the 529 plan you can have vanguard buy more shares into a brokerage account and/or a tax preferred, I suggest Roth. https://www.bogleheads.org/forum/viewtopic.php?f=10&t=257204 Thanks. Why do I need to buy this in a 529 pla...
by amindu
Mon Jun 07, 2021 11:32 pm
Forum: Personal Investments
Topic: PRIMECAP vs S&P500?
Replies: 42
Views: 7628

Re: PRIMECAP vs S&P500?

investmax wrote: Mon Jun 07, 2021 11:20 pm
retired@50 wrote: Mon Jun 07, 2021 11:14 pm
investmax wrote: Mon Jun 07, 2021 11:12 pm Can you please let me know what a flagship customer is? My interest is peaked as well. This is very interesting and I have never heard about this before.
See link: https://investor.vanguard.com/investing ... s/flagship

Regards,
Thanks. Oh well. :mrgreen: :o
Seems it will be quite a while before I hit this status :D
There is a backway into POAGX (PRIMECAP Odyssey Aggressive Growth Fund) which is a closed fund, and you don't have to be flagship to purchase, and there is no max limit. Once you buy a couple shares in the 529 plan you can have vanguard buy more shares into a brokerage account and/or a tax preferred, I suggest Roth.

viewtopic.php?f=10&t=257204
by amindu
Sun Jun 06, 2021 5:11 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on a hotel per night on a family vacation?
Replies: 171
Views: 23328

Re: How much do you spend on a hotel per night on a family vacation?

Just booked one in the Bahamas for $1400 for four nights. $350/night. So there’s your answer. I didn’t think twice about it. I used to not care about cheap hotels until my wife enlightened me with upscale travel. We stayed at the Hyatt Baha Mar highly recommend their concierge lounge is amazing and a great property. We also stayed at the Cove in Atlantis don’t recommend that at all. It’s the Hyatt Baha Mar so I’m glad you give it high marks. My understanding is Baha Mar is the new Atlantis. Plus the water park opens in July so it should be great for the kids. My only problem is the airfare to get there. I just booked the hotel and I’m hoping prices come down as more routes come back. Getting there right now feels like financial assault. Th...
by amindu
Sun Jun 06, 2021 11:19 am
Forum: Personal Consumer Issues
Topic: Credit card for traveling
Replies: 20
Views: 2155

Re: Credit card for traveling

You can get the Morgan Stanley Platinum Amex for free if you follow the couple steps needed. Once setup it’s all automated and you get the fee refunded for the Amex. The platinum gives you great benefits including access to their centurion lounges, priority pass, airline credit, Saks credit, Uber etc etc.
by amindu
Sun Jun 06, 2021 10:24 am
Forum: Personal Consumer Issues
Topic: How much do you spend on a hotel per night on a family vacation?
Replies: 171
Views: 23328

Re: How much do you spend on a hotel per night on a family vacation?

Just booked one in the Bahamas for $1400 for four nights. $350/night. So there’s your answer. I didn’t think twice about it. I used to not care about cheap hotels until my wife enlightened me with upscale travel. We stayed at the Hyatt Baha Mar highly recommend their concierge lounge is amazing and a great property. We also stayed at the Cove in Atlantis don’t recommend that at all. It’s the Hyatt Baha Mar so I’m glad you give it high marks. My understanding is Baha Mar is the new Atlantis. Plus the water park opens in July so it should be great for the kids. My only problem is the airfare to get there. I just booked the hotel and I’m hoping prices come down as more routes come back. Getting there right now feels like financial assault. Th...