Search found 978 matches

by smackboy1
Fri Aug 10, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Investment Policy Statement
Replies: 47
Views: 2252

Re: Trust Investment Policy Statement

Bogleheads believe in low cost index funds and ETFs. Have you inserted an Investment Policy Statement in any estate planning trusts to reflect your desire to maintain a low cost, passive portfolio and give guidance to successor trustees? Can a trust protector enforce your wishes if the trustee stra...
by smackboy1
Fri Aug 10, 2018 8:49 am
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1693

Re: Uninsured Motorist coverage

If youre worried about permanent disability, wouldnt disability insurance be better, since it would cover injury from any cause and you wouldnt have to risk a trial against the uninsured driver? Your own insurance co might argue in defense of the uninsured driver. https://bancorpinsurance.com/why-d...
by smackboy1
Fri Aug 10, 2018 8:24 am
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1693

Re: Uninsured Motorist coverage

There are 2 types of people that do not need to buy UM/UIM: 1) Income too low and cannot afford it ABSOLUTELY NOT! If you drive a car, you MUST have UM/UIM - or you risk a real financial and medical disaster. If a person's income is so low the choice is between food, shelter or medicine vs. UM/UIM ...
by smackboy1
Thu Aug 09, 2018 7:15 pm
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1693

Re: Uninsured Motorist coverage

A bit perplexing. Uninsured motorist hits your car and injures you and a passenger. Medical and liability coverage should kick in regardless. In what scenario would one need to use this beyond simply selecting state minimums? Especially if one has Personal Injury Protection , as well as Uninsured M...
by smackboy1
Thu Aug 09, 2018 5:59 pm
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1693

Re: Uninsured Motorist coverage

A bit perplexing. Uninsured motorist hits your car and injures you and a passenger. Medical and liability coverage should kick in regardless. In what scenario would one need to use this beyond simply selecting state minimums? Especially if one has Personal Injury Protection , as well as Uninsured M...
by smackboy1
Wed Aug 01, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 29
Views: 1935

Re: Choosing a trustee

My wife and I met with an estate attorney to setup our will. We have 2 young children, 2 & 4 yo, and 3 million in life insurance and a couple hundred thousand in investment/retirement accounts that will hopefully grow considerably by the time they are no longer minors. If something was to happen to...
by smackboy1
Wed Jun 27, 2018 10:15 am
Forum: Personal Consumer Issues
Topic: Home AC filters - does MPR matter ? [Microparticle Performance Rating]
Replies: 16
Views: 1535

Re: Home AC filters - does MPR matter ?

I need to buy filters for my home AC. I was getting some with high MPR ratings but some are telling me it’s a waste of money. I don’t have allergies or other sensitivities so I’m wondering if I should just get the cheap ones. For example Filtrete MPR 300 is much cheaper Is there anything I’m missin...
by smackboy1
Wed May 23, 2018 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Home Loan from Parents
Replies: 24
Views: 2422

Re: Home Loan from Parents

I appreciate the cautions regarding the risk vs reward ratio of this proposition. The intra-family issues aside, make sure to understand the full legal consequences. Make sure everything is in writing and properly recorded just like a commercial mortgage and note. - To avoid running afoul of IRS ru...
by smackboy1
Wed May 16, 2018 8:47 am
Forum: Personal Consumer Issues
Topic: Neighbor wants to use our land temporarily - let them or not?
Replies: 48
Views: 6482

Re: Neighbor wants to use our land temporarily - let them or not?

Would you give permission? Liability concerns? If it were me I would give permission - in writing with terms and conditions shifting liability to them. Liability is a real concern and should not be dismissed just because it's unlikely. If there is an injury or there is an environmental problem and ...
by smackboy1
Fri May 04, 2018 7:32 am
Forum: Personal Consumer Issues
Topic: Need advice on $5M property sale
Replies: 39
Views: 4270

Re: Need advice on $5M property sale

But the realtor commission really bothers me. $300k! Ouch! Don't fixate on a few % of a potential multi million $ deal. The commission is negotiable but it's only part of the decision making process. This is a commercial transaction so think of it like a business. Request proposals from at least 3 ...
by smackboy1
Tue May 01, 2018 11:05 am
Forum: Personal Consumer Issues
Topic: Learning to drive a stick [car with manual transmission]
Replies: 126
Views: 6763

Re: Learning to drive stick

Out of curiosity, what is the problem with coasting? Coasting: meaning the engine is disconnected from the drive wheels, either by holding the clutch pedal down for extended period, or leaving the transmission in neutral while the car is moving. It's bad because the driver has no ability to immedia...
by smackboy1
Tue May 01, 2018 10:33 am
Forum: Personal Finance (Not Investing)
Topic: How to price condo for private sale?
Replies: 14
Views: 1086

Re: How to price condo for private sale?

Zillow and realtor valuation is worth about as much as you pay for it i.e. not much. The only true valuation is what an arms length buyer would be willing to pay for it in the fair market. Anything else is just a guess. Appraisal is not science, it's an educated guess and subject to manipulation as ...
by smackboy1
Fri Apr 27, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting 60k to someone
Replies: 18
Views: 2376

Re: Gifting 60k to someone

Have a question related to gifting. I know that you can give 15k/yr to an individual without any penalty. But can you give a 60k gift to someone without penalty in one year? I seem to recall something that allows you to make a certain amount of gifts during your lifetime and wonder if you are allow...
by smackboy1
Fri Apr 27, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Do you need a physical for a Term Life policy?
Replies: 18
Views: 1728

Re: Do you need a physical for a Term Life policy?

I'm shopping around for a Term Life insurance policy. What happens after I pick one? Do you need a physical with your doctor? I just did one and my cholesterol is slightly elevated. Is that going to be a factor? Usually the physical exam is done by a nurse hired by the insurer. A long health survey...
by smackboy1
Fri Apr 27, 2018 8:09 am
Forum: Personal Consumer Issues
Topic: Learning to drive a stick [car with manual transmission]
Replies: 126
Views: 6763

Re: Learning to drive stick

I live in Chicago, which is very flat, so practicing for hills is going to be difficult to do. . . But I did a search on Kayak and didn't see any manuals for rent in Chicago? Any incline will work for practice. Find steep driveway or a parking garage with ramps. The nuance of using a clutch is from...
by smackboy1
Thu Apr 26, 2018 4:44 pm
Forum: Personal Consumer Issues
Topic: Learning to drive a stick [car with manual transmission]
Replies: 126
Views: 6763

Re: Learning to drive stick

There is a driving school near me that offers a 2 hour lesson for $180. They provide the car. Reviews suggest that at the end of the 2 hours, people feel comfortable enough that they could drive stick now, albeit not perfectly. Would this be a reasonable plan of action? I suppose I could also try t...
by smackboy1
Tue Apr 24, 2018 12:26 pm
Forum: Personal Consumer Issues
Topic: Newborn- essential financial steps
Replies: 20
Views: 2166

Re: Newborn- essential financial steps

We have a 1 month old daughter now. Beyond 529 account, are there any other financial steps that would be useful at this time? For both you and your spouse: Wills - naming guardian for your children. Name multiple successors. Life and Disability Insurance - In case one/both of you become disabled o...
by smackboy1
Sat Apr 14, 2018 9:32 pm
Forum: Personal Consumer Issues
Topic: Is it necessary to replace brake fluid on a car every 3 years?
Replies: 56
Views: 4578

Re: Is it necessary to replace brake fluid on a car every 3 years?

Is it necessary to replace brake fluid on a car every 3 years or not? Why does the car manual advise me to do this? The braking system is hydraulic, meaning it relies on incompressible fluid pressure to actuate the pads. Brake fluid is hygroscopic, meaning it absorbs water from it's surroundings. W...
by smackboy1
Fri Apr 13, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Family shared real estate purchase - how to best structure?
Replies: 20
Views: 1821

Re: Family shared real estate purchase - how to best structure?

Questions: What is the optimal manner from a tax perspective to structure the purchasing of a house in a scenario when having multiple parties willing to invest on a purchase of single family home? Beyond "be wary of investing with family" what other advice would you offer for this family to be con...
by smackboy1
Wed Apr 11, 2018 5:05 pm
Forum: Personal Consumer Issues
Topic: [What UN-frugal thing do you do? What do you splurge on?]
Replies: 567
Views: 40079

Re: Name something you bought that wasn't cheap and glad you did

Sleep Number mattress, goose down pillows, goose down duvet, and high thread count bedding. I spend 25-33% of my life in bed.
by smackboy1
Wed Apr 11, 2018 4:59 pm
Forum: Personal Consumer Issues
Topic: Anyone tried a sunrise alarm clock?
Replies: 42
Views: 3576

Re: Anyone tried a sunrise alarm clock?

I wake up to the $120 Philips HF3520 and my kids have the $50 Philips HF3500. The 3520 was a X'mas gift and I liked it so much I got the cheaper ones for my kids. We all love them, especially for waking up early before dawn when it's still dark outside. The light definitely works better than being w...
by smackboy1
Wed Apr 11, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Tax Question?
Replies: 22
Views: 1271

Re: Gift Tax Question?

For logistical reasons, you might want to transport this money in stages. Drug dealers do this all the time to avoid detection. It's called "smurfing" and can raise red flags. As others have pointed out the act of breaking up a large monetary transaction to get around IRS rules is a crime called "s...
by smackboy1
Wed Apr 11, 2018 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Please Evaluate My Portfolio and Make Recommendations
Replies: 30
Views: 1041

Re: What to do about Wife's Term Life Insurance Policy Nearing End?

So the question is, if you have no debt and we are retired and have sufficient assets to live on, do we really need life insurance anymore? I have a friend who has life insurance in that scenario, and he's thinking of it as a hedge for potential bad health down the road which might require Long Ter...
by smackboy1
Wed Apr 04, 2018 9:24 am
Forum: Personal Consumer Issues
Topic: Convert attached carport to Living Space
Replies: 16
Views: 1402

Re: Convert attached carport to Living Space

We would only do it if we think that the improvement adds more value to our home than it costs because we are going to be moving into a larger house in 3 years. The house is just small for my family of 5 right now so it would be nice to have the extra living space for the next 3 years, especially i...
by smackboy1
Tue Apr 03, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance, why long terms?
Replies: 27
Views: 2701

Re: Life Insurance, why long terms?

I wanted to highlight this is not really about affordability, just where the risk vs. reward makes sense. Why not buy a 40 yr policy? 50 yr? After all, I could get disabled, lose disability insurance on some technicality, kids could get in trouble, and not reach FI, and die 1 year after policy expi...
by smackboy1
Thu Mar 15, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance
Replies: 16
Views: 1966

Re: Umbrella Insurance

Umbrella insurance is excess liability coverage which is secondary to the primary auto and HO insurance. Umbrella only pays out if the primary insurance is exhausted first. Think of the primary insurance payout limits as the "deductible" before the umbrella kicks in. This makes umbrella relatively i...
by smackboy1
Thu Mar 15, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax
Replies: 18
Views: 1206

Re: Gift tax

Just for clarification. What if I gave my daughter a gift, say $11,000 and my wife give my daughter's husband a gift, also for $11,000; would that preclude the requirement for the completing the 709? And would it be legal? Yes. 2018 annual gift tax exclusion per recipient per giver is $15K. So lega...
by smackboy1
Sat Mar 10, 2018 1:34 pm
Forum: Personal Consumer Issues
Topic: Tires: Where to Get? Warranty? And Questions?
Replies: 74
Views: 6536

Re: Tires: Where to Get? Warranty? And Questions?

Tirerack.com is your best friend. Many of their tires come with a complimentary 2 year road hazard protection. They also administer some tire manufacturer's own road hazard programs e.g. Pirelli. I've used it a bunch of times and it's as easy as a phone call to Tirerack customer service. Selection a...
by smackboy1
Sat Mar 10, 2018 1:27 pm
Forum: Personal Consumer Issues
Topic: Plastic free coffee maker?
Replies: 22
Views: 2639

Re: Plastic free coffee maker?

kayanco wrote:
Fri Mar 09, 2018 9:16 pm
I wonder if anyone else has a similar concern? Have you looked into any coffee makers which are plastic free?
Pour over is what you seek. The resulting cup is brighter and less muddy than French press. Try a Chemex

https://www.youtube.com/watch?v=7Yrzjkh1GvA&t=32s
by smackboy1
Fri Mar 09, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 5476

Re: What are your auto insurance limits?

Has anybody actually heard of any cases where a jury awarded more than 500k? Yes. I know people that work in personal injury and I live in an area of the country where juries routinely award large judgments against defendants. Of course large jury verdicts are less common than smaller ones, but unl...
by smackboy1
Thu Mar 08, 2018 1:42 pm
Forum: Personal Consumer Issues
Topic: Best Colorado Skiing
Replies: 26
Views: 1991

Re: Best Colorado Skiing

What is your favorite skiing area in Colorado? I've heard good things about Breckenridge, Copper, and Keystone. That's a "it depends" question. What time of year: early season, mid, or late? What type of skiing: groomers, powder, trees, steeps, cruisers, bumps? Is off mountain resort amenities impo...
by smackboy1
Wed Mar 07, 2018 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Should I "get divorced" for tax purposes (PSLF)
Replies: 57
Views: 4147

Re: Should I "get divorced" for tax purposes (PSLF)

Legally and financially OP's unmarried vs married status can affect a lot more than just taxes. Examples: health, HO, auto insurance, government and employer benefits, mortgage, estate planning, children etc.. For tax purposes the marital status for the entire year is determined by the couple's stat...
by smackboy1
Tue Mar 06, 2018 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Trust advice for HNW couple with special needs child
Replies: 7
Views: 1154

Re: Trust advice for HNW couple with special needs child

- Our net worth is high enough that when my wife and I pass on, our estate will likely be larger than the exemption. . . - At my company, I have access to Hyatt Legal Services, which is a prepaid legal services plan. Does my situation sound like one which would be handled well by this plan, or does...
by smackboy1
Sun Mar 04, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 5476

Re: What are your auto insurance limits?

While what you're saying is true, the mechanics are a little difficult. The other party knows neither your insurance limits nor your available assets. They have to make a decision whether to accept a settlement from your insurance carrier, which would prevent them from going after your assets, or t...
by smackboy1
Fri Mar 02, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 5476

Re: What are your auto insurance limits?

So if I have less than a million I wouldn't get an umbrella but would just raise my auto coverage amounts to the amount of my assets? Me personally I would not get any less than $2MM umbrella even if my net worth is <$1MM. Obviously it's your choice, but for example if my base policy max was $500K ...
by smackboy1
Thu Mar 01, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 5476

Re: What are your auto insurance limits?

Is the rule of thumb that you need to cover your net worth? So if a person had 500k in assets they should have coverage of 500K for each of the major categories? Umbrella is typically sold in $1MM increments.The conventional wisdom is that for people with <$1MM net worth, minimum umbrella coverage ...
by smackboy1
Thu Feb 22, 2018 10:24 pm
Forum: Personal Consumer Issues
Topic: Replacing Tires on BMW X3
Replies: 21
Views: 3224

Re: Replacing Tires on BMW X3

These are runflat tires and have about 29000 miles on them. I was surprised that the tires needed to be changed so early (the treads look ok to me). Also the dealer price for the 4 tire change and wheel alignment is $1440.00 which seems really high. Does anyone have similar experience of needing to...
by smackboy1
Mon Feb 19, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard as trustee
Replies: 37
Views: 6533

Re: Vanguard as trustee

We are drafting a will, and I would like the personal representative to setup a trust to keep our saving until our daughter is ready. I am thinking to put a binding instruction for my personal representative to setup the trust at Vanguard. I am reviewing this page: https://personal.vanguard.com/us/...
by smackboy1
Mon Feb 19, 2018 12:05 pm
Forum: Personal Consumer Issues
Topic: Do you have a Japanese bath in your house?
Replies: 27
Views: 4349

Re: Do you have a Japanese bath in your house?

Do you have a Japanese bath in your house? Do you use it? Can you please offer your thoughts and comments on the experience? I've enjoyed them on my trips to Japan. I've been thinking about installing one in my basement. I have a stainless steel contemporary style ofuro in our master bathroom. It i...
by smackboy1
Fri Feb 16, 2018 11:07 pm
Forum: Personal Consumer Issues
Topic: Should I be paying $1300/yr. for under/uninsured motorist protection?
Replies: 99
Views: 7935

Re: Should I be paying $1300/yr. for under/uninsured motorist protection?

I don't have to pay anything. Let's assume you have zero liability. Who are passengers in your vehicle likely to be? Relatives? Friends? Children? Grandchildren? They could be catastrophically injured and left permanently disabled by an uninsured motorist Or parents of minor children are killed. No...
by smackboy1
Fri Feb 16, 2018 1:19 pm
Forum: Personal Consumer Issues
Topic: Should I be paying $1300/yr. for under/uninsured motorist protection?
Replies: 99
Views: 7935

Re: Should I be paying $1300/yr. for under/uninsured motorist protection?

Among other things I learned that I am paying $1300/yr. for UM/UIM (uninsured motorist/underinsured motorist) coverage for three people/three vehicles. The agent said this was for medical care if we had an accident with someone who was under/uninsured. I pointed out that health insurance would pay ...
by smackboy1
Thu Feb 15, 2018 10:10 pm
Forum: Personal Consumer Issues
Topic: Bonavita 1500 vs 1800/1900? (coffee)
Replies: 16
Views: 1513

Re: Bonavita 1500 vs 1800/1900? (coffee)

I also got the 1900 today, so I now have both 1500 (cone filter) and 1900 (flat-bottom) I tried comparing the temp difference between the two, but I couldn't tell definitely if there was a meaningful difference. Then I had a better idea: Rather than measure temperate or research between cone vs fla...
by smackboy1
Mon Feb 12, 2018 5:46 pm
Forum: Personal Consumer Issues
Topic: Suggest coffee maker please
Replies: 113
Views: 7646

Re: Suggest coffee maker please

Thanks for this post. Can you please explain what you mean by "preheating" and how to do it? It's the first tip at 22 secs in the video https://www.youtube.com/watch?v=1f7M5x_-EmM&t=0m22s You pour boiling hot water into the empty paper filter, holder and carafe to warm everything up and to minimize...
by smackboy1
Mon Feb 12, 2018 11:46 am
Forum: Personal Consumer Issues
Topic: Suggest coffee maker please
Replies: 113
Views: 7646

Re: Suggest coffee maker please

I did another experiment today. I thought that maybe on my 1500 it took a while for the water to reach the max temp. So I filled it up fully and let 3/4th pour put, then I quickly removed the carafe (without switching off the machine) and placed a mug underneath, and put in a digital thermometer, a...
by smackboy1
Tue Feb 06, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: How to receive large payment for a boat, PayPal vs Wire
Replies: 31
Views: 2462

Re: How to receive large payment for a boat, PayPal vs Wire

Safe ways for a selling an asset like a car or boat or house that protects both buyer and seller: 1) Bank check where both parties are at the buyer's bank and witness the buyer obtaining the actual bank check from the teller. Lots of cameras and zero chance the check is fake. Documents are signed an...
by smackboy1
Fri Feb 02, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Per Stirpes
Replies: 21
Views: 3312

Re: Per Stirpes

A beneficiary designation or pay/transfer on death for taxable accounts is an extremely powerful, but very blunt tool. It can override other estate planning and inadvertently create undesired outcomes. It may be appropriate for people where there is no risk of an unintended outcome, for example, no ...
by smackboy1
Thu Feb 01, 2018 10:25 pm
Forum: Personal Consumer Issues
Topic: "I Volunteered for the Hospital Board and was Sued for Millions."
Replies: 44
Views: 11095

Re: "I Volunteered for the Hospital Board and was Sued for Millions."

Is there a good titling strategy resource? It's mentioned a few times in the article and comments, but few specifics are offered. In brief: Some states recognize tenants-by-the-entirety. This only helps married couples and protects against creditors of only 1 spouse. It's easy to do, free and offer...
by smackboy1
Thu Feb 01, 2018 12:40 pm
Forum: Personal Consumer Issues
Topic: Buy a new car or not?
Replies: 34
Views: 3025

Re: Buy a new car or not?

emoore wrote:
Wed Jan 31, 2018 11:33 am
How does the OP sounds like a perfect fit for a Toyota or Honda? Obviously the OP likes to drive and therefore bought a Golf R.
Honda Civic Type R

https://automobiles.honda.com/civic-type-r

Toyota 86 GT

https://www.toyota.com/86/

:sharebeer
by smackboy1
Thu Feb 01, 2018 11:41 am
Forum: Personal Consumer Issues
Topic: SUV vs Minivan: which is safer?
Replies: 24
Views: 2660

Re: SUV vs Minivan: which is safer?

For someone looking for a larger car that can accommodate 2 car-seats + 3 adults or maybe even 4, safety-wise , would you go with an SUV or a Minivan? When I look at safety ratings online, they only look at same-weight class vehicles. I did not find comparisons across weight classes. Any suggestion...
by smackboy1
Mon Jan 29, 2018 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Wills - Should guardian also be the executor of the estate?
Replies: 15
Views: 1194

Re: Wills - Should guardian also be the executor of the estate?

You should use an experienced attorney to help draft the documents and to help discuss pros and cons of each approach. Sometimes well-intentioned plans can have unintended consequences. Here are some things to consider: - In the unlikely event both parents perish it will be very traumatic for all th...