Search found 160 matches

by London
Tue Nov 24, 2020 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in NJ, how much to spend?
Replies: 75
Views: 4973

Re: Buying a house in NJ, how much to spend?

The towns can pay for those things if they want them. The problem is that towns are forced to subsidize Newark’s schools on top of their own. That’s a costly proposition. My town gets zero state aid and keeps their budget flat if you normalize out the ever increasing burden of the Abbott districts....
by London
Tue Nov 24, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in NJ, how much to spend?
Replies: 75
Views: 4973

Re: Buying a house in NJ, how much to spend?

You can go north west NJ which will be a long commute to most jobs but going towards PA you can get cheap houses and taxes. Houses are cheaper, but the tax rates are higher. You pay more per assessed $ of home in Hunterdon County than anywhere in the USA. NJ's entire problem is taxes. High income t...
by London
Thu Nov 19, 2020 7:02 am
Forum: Personal Consumer Issues
Topic: Surface Pro 7 or Lenovo Flex 5?
Replies: 12
Views: 965

Re: Surface Pro 7 or Lenovo Flex 5?

I prefer a laptop because I actually like to use it in my lap. Trying to balance a Surface Pro 7 feels unnatural to me (but they are cool looking). Also I like a bigger screen. I love the Surface but this comment is spot on. If you are using the keyboard on your lap, it’s a balancing act. Otherwise...
by London
Thu Nov 19, 2020 6:58 am
Forum: Personal Consumer Issues
Topic: Holiday Gifts for Daycare Teachers?
Replies: 19
Views: 868

Re: Holiday Gifts for Daycare Teachers?

Cash is the right gift. The amount depends on how much you like the teacher and/or how difficult your kid can be.
by London
Wed Nov 18, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: What % of your Net Worth is Home Equity? What % is total value of RE relative to net worth?
Replies: 124
Views: 6801

Re: What % of your Net Worth is Home Equity? What % is total value of RE relative to net worth?

We dont factor our home in our net worth. Never have, never will. Just curious as to why you don't calculate it in your net worth? I know that you're not the only one to do that, but even though a house may be more illiquid than a retirement account or a taxable account, if you and a renter had the...
by London
Tue Nov 17, 2020 8:17 am
Forum: Personal Finance (Not Investing)
Topic: What % of your Net Worth is Home Equity? What % is total value of RE relative to net worth?
Replies: 124
Views: 6801

Re: What % of your Net Worth is Home Equity? What % is total value of RE relative to net worth?

We dont factor our home in our net worth. Never have, never will. Just curious as to why you don't calculate it in your net worth? I know that you're not the only one to do that, but even though a house may be more illiquid than a retirement account or a taxable account, if you and a renter had the...
by London
Fri Nov 13, 2020 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Aging parents - who pays for expenses related to medical care
Replies: 109
Views: 5544

Re: Aging parents - who pays for expenses related to medical care

Not sure why you’re asking a message board. If you feel comfortable asking your parents for reimbursement, go ahead. I would never do that but to each their own. It's always nice to have a proposal and know a request is reasonable before a conversation is had. The vast majority of the responses her...
by London
Fri Nov 13, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Aging parents - who pays for expenses related to medical care
Replies: 109
Views: 5544

Re: Aging parents - who pays for expenses related to medical care

Not sure why you’re asking a message board. If you feel comfortable asking your parents for reimbursement, go ahead. I would never do that but to each their own.
by London
Tue Nov 03, 2020 10:00 pm
Forum: Personal Consumer Issues
Topic: House cleaner insurance needed?
Replies: 9
Views: 1449

Re: House cleaner insurance needed?

I’m in NJ and have a house cleaner. Never once thought or cared about the insurance aspect. I use a “cash only” service where I’m certain they don’t have insurance on their side. I’m also fairly certain I’ll never have an issue. If you’re worried, call your agent. I’m sure they’ll be happy to sell y...
by London
Sun Oct 25, 2020 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Spending excess income
Replies: 44
Views: 3325

Re: Spending excess income

No one truly knows if they have enough. All you can do is formulate a plan and save accordingly. After that, why not spend it on things you enjoy? Isn’t that the point of money?
by London
Sat Oct 24, 2020 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase with a Single Agent
Replies: 19
Views: 1373

Re: House Purchase with a Single Agent

I’ve used the sellers agent as a buyer and it definitely worked out great for me. Sometimes, an agency will have another person represent you in the negotiation but that’s rare. In general, the agent will have great incentive to have the seller accept your offer.
by London
Mon Oct 12, 2020 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to document this sale to a private party
Replies: 3
Views: 481

Re: Do I need to document this sale to a private party

I’ve actually bought two pitching machines as I have a batting cage. I definitely didn’t expect a bill of sale. Price for the last one was around $1,400 used. If the seller wanted me to sign something I would have thought it was weird and would have walked.
by London
Thu Oct 08, 2020 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Would you rather be the richest or poorest person in town?
Replies: 109
Views: 8837

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

People seem to base their opinions on movies/books. Anything of lower income is “salt of the earth” and good. Anything of higher income is stuffy and unwelcoming. In reality, your experience will vary with the town. I currently live in a very expensive community and it’s been great. Property values ...
by London
Tue Jul 21, 2020 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance calculator that accounts for front loaded interest and resetting the clock
Replies: 6
Views: 363

Re: Refinance calculator that accounts for front loaded interest and resetting the clock

I’ve never understood when people say interest is front loaded. You have a higher balance in the beginning and as a result pay more interest. If you took out a new loan for the remaining duration with a lower amount, interest would still be calculated the same. Not quite. You must have missed my co...
by London
Tue Jul 21, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Refinance calculator that accounts for front loaded interest and resetting the clock
Replies: 6
Views: 363

Re: Refinance calculator that accounts for front loaded interest and resetting the clock

I’ve never understood when people say interest is front loaded. You have a higher balance in the beginning and as a result pay more interest. If you took out a new loan for the remaining duration with a lower amount, interest would still be calculated the same.
by London
Fri Jul 17, 2020 6:18 am
Forum: Personal Finance (Not Investing)
Topic: I'm debating buying a big house, and wondering what the retirement implications are? Is it a bad idea?
Replies: 58
Views: 4626

Re: I'm debating buying a big house, and wondering what the retirement implications are? Is it a bad idea?

I was in your situation and I bought the big house. A few things happened over the next few years; my investments grew more than expected and my earnings went way up. My point is, no one knows about the future. Most advice on this board will tell you that the market will tank and you’ll be laid off ...
by London
Thu Jun 18, 2020 6:50 am
Forum: Personal Consumer Issues
Topic: Really hard to avoid "Keeping up with the Joneses"!
Replies: 313
Views: 32671

Re: Really hard to avoid "Keeping up with the Joneses"!

I think a better question for this thread might be what constitutes the joneses? Are you a Jones if you spend more than you make? Only save 10% of income? Own too much house? Where is the cutoff which puts you into Jones territory? That is a good question. I think in the original meaning it assumed...
by London
Wed Jun 10, 2020 6:02 am
Forum: Personal Consumer Issues
Topic: Exotic Car Rental Pitfalls?
Replies: 9
Views: 1216

Re: Exotic Car Rental Pitfalls?

I don’t think insurance will be an issue as the poster above me has laid out but I do think most high end rentals have mileage caps. When renting a high end car, I’ve found that they allow 75-100 miles a day and then charge by the mile over that. The cost per additional mile is high. Depending on th...
by London
Mon Jun 08, 2020 8:31 am
Forum: Personal Consumer Issues
Topic: Looking at buying house with in-ground pool. What questions should we ask?
Replies: 62
Views: 3943

Re: Looking at buying house with in-ground pool. What questions should we ask?

The good news is that you’re in the right season. I’d much rather buy a house with a pool during the summer so it can be checked more easily. If the seller uses a pool service, maybe you can talk to them about any issues. Otherwise, you can bring someone in, but they won’t find issues like leaks in...
by London
Mon Jun 08, 2020 7:59 am
Forum: Personal Consumer Issues
Topic: Looking at buying house with in-ground pool. What questions should we ask?
Replies: 62
Views: 3943

Re: Looking at buying house with in-ground pool. What questions should we ask?

The good news is that you’re in the right season. I’d much rather buy a house with a pool during the summer so it can be checked more easily. If the seller uses a pool service, maybe you can talk to them about any issues. Otherwise, you can bring someone in, but they won’t find issues like leaks in ...
by London
Thu Jun 04, 2020 10:48 am
Forum: Personal Consumer Issues
Topic: Are small houses cheaper to insure? If so how much have you seen the price drop by moving to a small house?
Replies: 14
Views: 1145

Re: Are small houses cheaper to insure? If so how much have you seen the price drop by moving to a small house?

One thing I’ve found is that when the estimated replacement value of the structure exceeds $1m, many brokers can’t write the policy, which hinders competition. So going the opposite way should open up more competition and lower costs further. Sort of. Dwelling values of $1MM+ open up access to high...
by London
Thu Jun 04, 2020 10:39 am
Forum: Personal Consumer Issues
Topic: Are small houses cheaper to insure? If so how much have you seen the price drop by moving to a small house?
Replies: 14
Views: 1145

Re: Are small houses cheaper to insure? If so how much have you seen the price drop by moving to a small house?

I’ve gone the other direction so I can confirm small houses are cheaper to insure, both in absolute terms and on a relative basis. Went from 2,350 sq ft to 8,000 sq ft and insurance went from $1,200 to $5,000. Even after extensive shopping around, I can’t get this number lower. One thing I’ve found ...
by London
Wed Jun 03, 2020 6:25 am
Forum: Personal Consumer Issues
Topic: Ads for "Immediate FICO Boost"
Replies: 12
Views: 946

Re: Ads for "Immediate FICO Boost"

I had a friend that did this and from what I recall the biggest “hack” was adding yourself as a user or co-account holder on someone’s credit card (presumably with better credit and longer history). Apparently the card then shows up on your credit with their card start date. That increases your cred...
by London
Thu May 28, 2020 7:44 am
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 174
Views: 14182

Re: If Jeep has such poor reliability, how come they are everywhere?

I gave a counterexample, to demonstrate why generalization is often wrong. The only information you gave relevant to why people buy Jeeps (which has zero relationship with people buying too much car, the average length of car loans, etc), is this "From JD Power, 10% of drivers "completely...
by London
Wed May 27, 2020 7:39 am
Forum: Personal Consumer Issues
Topic: NJ property taxes too high. What are my alternative states?
Replies: 97
Views: 8050

Re: NJ property taxes too high. What are my alternative states?

I have never understood why New Jersey, with all the tourist attractions, an entire coastline, casino's, and neighbored to New York has any budget issues. 1) State pensions and retirement healthcare. 2) A ridiculous amount of townships with their own police, fire, EMT, and school systems. 3) Poor c...
by London
Wed May 27, 2020 6:16 am
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 174
Views: 14182

Re: If Jeep has such poor reliability, how come they are everywhere?

I’ve seen a few comments about the low resale on the grand Cherokee but it’s worth stating that the resale value of the Wrangler is amazing. For whatever reason, they hold their value very well.
by London
Mon May 25, 2020 6:45 am
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 174
Views: 14182

Re: If Jeep has such poor reliability, how come they are everywhere?

I have a wrangler JL and I love it. I wanted it for the convertible top, the four wheel drive, and to be able to throw all the kids sports crap in the back. There was no other vehicle that checked all those boxes. We’ve had way more fun in it than I would have in a Honda/Toyota. As a bonus, I’ve had...
by London
Sun May 24, 2020 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Refinance appraisal issue
Replies: 16
Views: 1380

Re: Refinance appraisal issue

Appraisals aren’t a science. I have a very expensive home and at one point had three appraisals done in quick succession. The highest and lowest were $500k apart. At that time I was hunting for a low appraisal to challenge property tax so I went with the lowest. Recently I refinanced. Obviously, I w...
by London
Sat May 23, 2020 8:24 pm
Forum: Personal Consumer Issues
Topic: NJ property taxes too high. What are my alternative states?
Replies: 97
Views: 8050

Re: NJ property taxes too high. What are my alternative states?

I have never understood why New Jersey, with all the tourist attractions, an entire coastline, casino's, and neighbored to New York has any budget issues. 1) State pensions and retirement healthcare. 2) A ridiculous amount of townships with their own police, fire, EMT, and school systems. 3) Poor c...
by London
Sat May 23, 2020 6:48 am
Forum: Personal Consumer Issues
Topic: Subaru Outback vs deer
Replies: 21
Views: 1992

Re: Subaru Outback vs deer

I could be mistaken but I would think that this would be covered under their comprehensive insurance and not the collision insurance. If so they may have a lower deductible and it might not raise their rates by much if any. They should look into that. I also agree that once they open up the car the...
by London
Sat May 23, 2020 6:43 am
Forum: Personal Consumer Issues
Topic: NJ property taxes too high. What are my alternative states?
Replies: 97
Views: 8050

Re: NJ property taxes too high. What are my alternative states?

While the posts in this chain about the inheritance tax are factually correct, they leave out a major point: your spouse and children are exempt. (https://www.nj.com/business/2018/11/the_dreaded_inheritance_tax_how_it_works_how_to_av.html) I’m not saying it’s a tax I’m dying to pay (pun intended). B...
by London
Fri May 22, 2020 3:39 pm
Forum: Personal Consumer Issues
Topic: Should I pay $1,600 for this lawn care fix?
Replies: 56
Views: 5690

Re: Should I pay $1,600 for this lawn care fix?

I’d probably get one more quote to see if the first was an outlier in either direction. After that, I’d pull the trigger. I also enjoy yard work and having a nice looking yard. Sometimes you need outside help to achieve an outcome. No shame in that.
by London
Fri May 22, 2020 7:18 am
Forum: Personal Consumer Issues
Topic: Shed Foundation: Flat Concrete Blocks or Deck Piers?
Replies: 18
Views: 1449

Re: Shed Foundation: Flat Concrete Blocks or Deck Piers?

Sometimes the answer to this comes down to permit /property tax considerations. In my area, it’s not considered to be a permanent structure if it’s on piers. That means no tax or permits required. If you sink concrete into the ground, it’s then considered permanent. Of course none of that has to do ...
by London
Sat May 16, 2020 6:51 pm
Forum: Personal Consumer Issues
Topic: Alternatives to Craftsman Tools
Replies: 98
Views: 6854

Re: Alternatives to Craftsman Tools

Completely serious question; what makes Snap On tools worth the premium? I do a reasonable amount of small engine work with Home Depot tools and have never had an issue but perhaps I don’t know what I’m missing with a more high end brand? My view is that Snap-On and other pro grade tools generally ...
by London
Sat May 16, 2020 1:01 pm
Forum: Personal Consumer Issues
Topic: Alternatives to Craftsman Tools
Replies: 98
Views: 6854

Re: Alternatives to Craftsman Tools

Completely serious question; what makes Snap On tools worth the premium? I do a reasonable amount of small engine work with Home Depot tools and have never had an issue but perhaps I don’t know what I’m missing with a more high end brand?
by London
Sat May 09, 2020 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: $2 million dollar house pre requisites
Replies: 109
Views: 10233

Re: $2 million dollar house pre requisites

You are probably confusing bogleheads with MMF. True bogleheads plan for 2 million house too while making sure retirement, 529 and everything else are fully funded too. Amen. The purpose of this board to the talk about a shared view of low cost investing. For some reason, people take that to mean t...
by London
Wed May 06, 2020 9:56 am
Forum: Personal Consumer Issues
Topic: Neighbor’s contractor wants to access our property
Replies: 158
Views: 17445

Re: Neighbor’s contractor wants to access our property

Many of the potential requests for the contractor listed in this thread will certainly not be done. Why waste time? Just say no and make them figure out a way to complete the project that doesn’t rely on using your land. Doesn’t sound like the OP has that close of a relationship with the neighbor an...
by London
Tue May 05, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: [thinking about buying a house in LA, wait for RE crash?]
Replies: 72
Views: 6031

Re: do you expect there to be a housing market crash? If so, when?

Obviously location is the number one factor. After that, price point will matter. Starter homes, affordable by those with the least amount of financial security will be impacted. However, those homes are most likely to be scooped up by landlords if they fall, so that may backstop the price a bit. Mi...
by London
Mon May 04, 2020 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Buying Home - How Near Parents?
Replies: 30
Views: 3069

Re: Buying Home - How Near Parents?

We bought our first house 10 mins away from my wife’s a parents after having the same debate. It would have been cheaper to live further away but we get along with them well and valued the proximity. You’ll be able to hire a babysitter wherever you live but you won’t get the day to day interaction f...
by London
Thu Apr 30, 2020 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Quitting a job after two weeks: relocation expenses
Replies: 196
Views: 18150

Re: Quitting a job after two weeks: relocation expenses

That’s showbiz. No one is paying you 300% of your previous comp for you to gradually get up to speed and manage expectations. I think you’re right in that you did make a mistake (or maybe both sides did in the hiring process). Not the end of the world. Look for jobs or wait for them to fire you and ...
by London
Wed Apr 22, 2020 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Career question - Business Broker
Replies: 1
Views: 171

Re: Career question - Business Broker

It’s really a poor mans M&A Advisory role. You’re going to have to have an understanding of an industry and a ton of contacts in that industry. You’ll have to leverage both of those and build a reputation to attract clients. Like any “eat what you kill” job, it’s very much feast or famine. It’s ...
by London
Mon Apr 20, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: $1M home purchase - can we afford it?
Replies: 74
Views: 7098

Re: $1M home purchase - can we afford it?

1300 is TINY. No, a tiny house is tiny. 1300 is small/cozy. It till had enough room for 3 bedrooms (each large enough to fit a queen size bed + furniture), a living room, a den, a home office, a kitchen and a dining room. Its roughly the amount of space that most American families lived in prior to...
by London
Fri Apr 17, 2020 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8068
Views: 562865

Re: Refinance Mega Thread

I closed this week with LoanDepot. 3%, 30 Year, about $1.2k in fees. High balance conventional with a LTV of about 45%. I was going from 3.5% before so not a huge save. The process was pretty smooth. My initial contact was great. The closing/funding was a little slow but the whole thing took less th...
by London
Wed Apr 15, 2020 7:29 pm
Forum: Personal Consumer Issues
Topic: Please share some lifestyle creep you regret.
Replies: 226
Views: 27932

Re: Please share some lifestyle creep you regret.

squirm wrote: Wed Apr 15, 2020 6:25 pm A family member is a little over 50 and is trying to relive his youth. Sorta funny to watch. Buys all the speed boats, fast cars and other toys, tries to convince me I should be impressed. I asked him why? we're not in our 20's anymore.
People have fun in different ways.
by London
Wed Apr 08, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Do we have any recourse? Mortgage investor backed out of all jumbos
Replies: 40
Views: 4374

Re: Do we have any recourse? Mortgage investor backed out of all jumbos

Definitely pursue it. I’m sure Morgan Stanley’s legal team would love to laugh at a letter from your lawyer right now. It will help keep things light as they work from home.
by London
Wed Mar 25, 2020 6:23 am
Forum: Personal Consumer Issues
Topic: Traffic Ticket - Offer to reduce points for Increase Fine
Replies: 25
Views: 1812

Re: Traffic Ticket - Offer to reduce points for Increase Fine

I found out first hand in NJ that paying the higher amount is a waste of money. I paid the $250 surcharge to change the ticket to a no points violation and Geico still raised my rates. I called Geico and was told that a moving violation will increase rates, points or not. Obviously your experience w...
by London
Sat Mar 21, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Buying house process: mortgage payment question
Replies: 6
Views: 536

Re: Buying house process: mortgage payment question

Don’t waste people’s time. Use a mortgage calculator and plug in your likely price, rate, term. Then look up the current taxes and divide by 12. Then get a homeowners quote. After that assume taxes will go up over time. If you can’t stomach the number don’t buy the house.
by London
Tue Mar 17, 2020 3:00 pm
Forum: Personal Consumer Issues
Topic: Help with Router & WiFi Extender Setup for large area: Help Please.
Replies: 43
Views: 1604

Re: Help with Router & WiFi Extender Setup for large area: Help Please.

I just installed Orbi. Used four of them in an 8,000+ sq ft house and it works great.
by London
Fri Mar 13, 2020 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Payoff 401k loan with HELOC?
Replies: 15
Views: 707

Re: Payoff 401k loan with HELOC?

Hi, First post. 40 y.o. Back in September 2019 I took a 401k loan worth $50,000 Reason I want to pay it off: Low market prices. Just to chime in again, I think some of you are missing the point of the post. He has an opportunity to lock in a large market gain by paying off the loan using heloc now....
by London
Thu Mar 12, 2020 7:24 pm
Forum: Personal Consumer Issues
Topic: Fly or Drive to FL?
Replies: 52
Views: 3627

Re: Fly or Drive to FL?

I would go and I would fly. Your probability of infection is low despite news reports. Your probability of dying if you get it is lower still. I’m not risk averse though. I also hate long car rides.

It’s a personal decision for you and your family.