Search found 118 matches

by RetiredCSProf
Mon Jun 18, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 977

Re: Seller Financing on Land Sale

Seems like their moves to de-risk would increase your risk. Perhaps you could get them to offer something that doesn’t increase your risk. If they are capital hungry, then perhaps a triple net lease structure would help them but also protect you. (just spit balling) How would a triple net lease str...
by RetiredCSProf
Sun Jun 17, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 977

Re: Seller Financing on Land Sale

Thanks for the responses. I'm the OP and you have all given me a lot to consider, not only with respect to the interest rate. The property has been on the market for a couple years, and I may be over eager to get it on contract. The offer is nearly 20% below asking, lower than I would like. We have ...
by RetiredCSProf
Fri Jun 15, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Financing on Land Sale
Replies: 10
Views: 977

Seller Financing on Land Sale

I have vacant land on the market. I had told my listing agent, at the start, that I do not want to hold any paper on the sale. He has presented an offer from a potential buyer with 37% of the purchase price to be financed by the seller, at 4% annual interest. Out of curiosity, what is a reasonable i...
by RetiredCSProf
Mon Jun 11, 2018 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: death certificates...hospice and 911
Replies: 32
Views: 2885

Re: death certificates...hospice and 911

My Mom was in hospice care at assisted living when she passed away at age 99. She had been in hospice care for only a few days, but had their caretakers round the clock. The hospice staff left soon after my Mom's passing and had nothing to do with making arrangements with the mortuary or funeral hom...
by RetiredCSProf
Tue Jun 05, 2018 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: FSCSX [Fidelity Select Software and IT Services Portfolio]
Replies: 8
Views: 443

Re: FSCSX [Fidelity Select Software and IT Services Portfolio]

The Fidelity Select funds carry more risk because they are concentrated in a single sector. The amount you invest in sector funds depends on your risk tolerance. I am currently invested in FSCSX and Fidelity Select Medical Equipment (FSMEX), both of which have performed well in the past year. Also, ...
by RetiredCSProf
Mon Jun 04, 2018 11:08 am
Forum: Investing - Help with Personal Investments
Topic: [what to sell for] RMD
Replies: 21
Views: 1382

Re: [what to sell for] RMD

The first withdrawals from your TIRA account are deemed to be RMDs. To minimize taxes, you want the QCDs to be part of that. I thought I understood QCDs, but the above statement confuses me. I am turning 70-1/2 in a few months. I was told that I can take QCDs any time after my half-birthday this ca...
by RetiredCSProf
Sun Jun 03, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Overlap between domestic and international funds
Replies: 3
Views: 168

Overlap between domestic and international funds

My asset allocation goal is to keep about 30% of my equities in international. I am finding this difficult to track in my TRowe tIRA account, as many of their US funds, such as TRP Blue Chip (TRBCX), invest a portion in international companies. I am wondering whether to reduce my goal to account for...
by RetiredCSProf
Thu May 31, 2018 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 17350

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

Hello, Assumptions 1. my kids grow up to be average " students. 2. We are an upper middle class family when my kids apply for college (i.e. a few million dollar net worth). 3. Have some 529 balances. Say $75k each kid Do kids like these typically get any "free" money from colleges or any other orga...
by RetiredCSProf
Tue May 29, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Please help. Private school contract woes.
Replies: 21
Views: 3279

Re: Please help. Private school contract woes.

I have no experience with private school contracts, but I am in a legal dispute that is going to arbitration in California. There's a filing fee for arbitration as well as a retainer fee for the arbitrator (usually a retired judge). My initial fees for arbitration are $3700 -- these are the formal f...
by RetiredCSProf
Mon May 21, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: child turning 18 - stop filing as dependent?
Replies: 23
Views: 2065

Re: child turning 18 - stop filing as dependent?

The IRS is very specific about claiming dependents and provides an interactive tool to determine status: https://www.irs.gov/faqs/filing-requirements-status-dependents-exemptions/dependents-exemptions/dependents-exemptions-2 Some factors to consider are: - age of child - marital status of your child...
by RetiredCSProf
Sat May 19, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!
Replies: 22
Views: 1981

Re: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!

A few random comments: 1) What qualifies as an "expensive college"? Here' the estimated cost of attendance for the 2018-2019 academic year for some of the schools my son applied to as a transfer student (he's finishing an AA degree at a California Community College). Note that estimated cost include...
by RetiredCSProf
Sat May 05, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Private Client Services?
Replies: 6
Views: 1507

Re: Chase Private Client Services?

I considered Chase Private Client Services this year when I was applying for a HELOC. It would have required my moving funds from a self-managed, traditional IRA to a managed account at Chase. I prefer to manage my own accounts. While Chase offered that they would be able to set up a self-managed ac...
by RetiredCSProf
Thu May 03, 2018 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: When would you replace a car?
Replies: 34
Views: 3056

Re: When would you replace a car?

I replaced my 8-year old car three months after my son was born. I had a 2-door hatchback; getting my infant son into the rear-facing car seat in the back was nearly impossible for me. I gave the hatchback to my nephew and purchased a new Lexus sedan, which I drove for 20 years. My criteria for the ...
by RetiredCSProf
Thu May 03, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Budget for kid's sport?
Replies: 49
Views: 2333

Re: Budget for kid's sport?

I spent a small fortune on my kid's sports and on music lessons. My motivation for sports was that, as a female engineer, I was often told by management that I lacked the team-building experience that my male counterparts derived from playing on sports teams (I guess marching band didn't count as a ...
by RetiredCSProf
Mon Apr 23, 2018 8:27 pm
Forum: Personal Consumer Issues
Topic: Your own General Contractor
Replies: 33
Views: 3032

Re: Your own General Contractor

I hired a licensed GC to remodel two bathrooms in my 30-year old spec home. He falsely claimed that features of my home did not meet the residential code and he enlarged the scope of the project to ten times my original intent. During the remodel, he flagrantly ignored state construction laws, e.g.,...
by RetiredCSProf
Mon Apr 23, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2241

Re: How to pay for 6th year of college?

Some random thoughts: 1. I like the idea of him paying for the 6th year, but it sounds like OP and some of the other posters do not. I understand that, and I may change my tune if any of my three kids get to that point. 2. If you're paying for his college, then *you* can take advantage of the educa...
by RetiredCSProf
Fri Apr 20, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2241

Re: How to pay for 6th year of college?

I think you are right that tuition paid directly to the school doesn't count toward the 15K, but are you really concerned that room and board is going to be above 15K? Absolutely! The school to which I am referring for the game design degree is in the University of California system. R&B for the 20...
by RetiredCSProf
Fri Apr 20, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2241

Re: How to pay for 6th year of college?

Thanks for the responses: >UpperNwGuy -- If I borrow money to pay for a 6th year of undergraduate school, I would still risk exceeding the annual $15K gift >rob65 -- Yes, filing Form 709 would allow me to exceed the annual $15K limit >JPH -- I agree, paying your own way is motivating. >GCD -- My son...
by RetiredCSProf
Wed Apr 18, 2018 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating Future College Costs
Replies: 18
Views: 1443

Re: Estimating Future College Costs

Depending where your children go to college, you may find that housing costs can exceed the cost of tuition. I'm in California, where all the UC's are in HCOL areas. Paying $800 or more per month to share a small room with 2 or 3 other students is typical.
by RetiredCSProf
Sun Apr 15, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for 6th year of college?
Replies: 13
Views: 2241

How to pay for 6th year of college?

My son is finishing his 3rd year of community college and has several options for transferring to a "four-year" school and completing an undergraduate degree in two additional years; however, one option would require three more years of undergraduate school, thus, completing a BA in six years. If he...
by RetiredCSProf
Mon Apr 09, 2018 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Undecided students and STEM majors
Replies: 51
Views: 4336

Re: Undecided students and STEM majors

One option in California is to go to a community college (CC) for 2 or 3 years before transferring to a UC or Cal State. STEM students at CC's are encouraged to focus on math, science, and computer science classes instead of trying to fulfill the general education requirements (e.g., instead of soci...
by RetiredCSProf
Fri Apr 06, 2018 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Family Farm
Replies: 14
Views: 1582

Re: Gifting Family Farm

Your FIL may have intentionally placed the property in his name only, with the assumption that he would pre-decease your MIL, and that she would then get the full stepped-up basis on the property when he passes. Also, you said that there are four separate parcels of land. My parents had the same sit...
by RetiredCSProf
Fri Apr 06, 2018 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Family Farm
Replies: 14
Views: 1582

Re: Gifting Family Farm

The unified credit enables you to give away $5 million (plus the annual inflation adjustments) during your lifetime without having to pay gift tax. By using the unified credit during your life, you'll reduce the amount available to offset the estate tax upon your death. Your FIL can simply gift the...
by RetiredCSProf
Thu Apr 05, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tips to switch from Software Eng. to software Teaching/Training
Replies: 10
Views: 989

Re: Tips to switch from Software Eng. to software Teaching/Training

What style of teaching interests you? Teaching college students? Training working professionals to use new products and apply new processes? Tutoring students one-on-one? College students today expect their professors to be entertaining and engaging -- not just lecture to them. Preparation and gradi...
by RetiredCSProf
Thu Apr 05, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: EE Bonds to 529
Replies: 4
Views: 384

Re: EE Bonds to 529

To avoid paying taxes on the interest earned on the savings bonds, you will need to qualify for the education tax exclusion for savings bonds. Check IRS Publication 970 for the exclusion limitation: Education savings bond program. For 2017, the amount of your education savings bond interest exclusio...
by RetiredCSProf
Wed Apr 04, 2018 12:27 am
Forum: Personal Finance (Not Investing)
Topic: taxes: e-file vs. paper
Replies: 51
Views: 3691

Re: taxes: e-file vs. paper

A few years ago, my sister was required to file by paper rather than e-file due to an identity-theft issue. I don't know the details.
by RetiredCSProf
Mon Apr 02, 2018 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: AA for 529s that will be used for college and grad school
Replies: 24
Views: 2646

Re: AA for 529s that will be used for college and grad school

How does the CO SV plan compare with the TIAA CREF Scholar Share Guaranteed Investment option? fees? return? I'm not seeing any guaranteed options in the Vanguard Nevada plan. At Vanguard, I can switch to a low-cost age-based moderate or conservative fund, which is divided among MM, TIPs, and bonds....
by RetiredCSProf
Mon Apr 02, 2018 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: AA for 529s that will be used for college and grad school
Replies: 24
Views: 2646

Re: AA for 529s that will be used for college and grad school

I have the same (similar) question. I have one child, age 21, with a 529 Vanguard Nevada college fund. I currently have $104K in the aggressive age-based plan. A year ago, Vanguard adjusted their age-based plans, so that my son's current plan adjusted from 100% bonds to 90/10 bonds / equities. In th...
by RetiredCSProf
Fri Mar 30, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: When did you know your kids would go to college?
Replies: 91
Views: 4399

Re: When did you know your kids would go to college?

... My oldest, age 9, has ADHD and wants to write comic books. If he does indeed choose that path, I’m not sure college is worthwhile... But for him to major in English or art in college, doing ceramics and studying Shakespeare ultimately to illustrate or write comic books seems like a waste of tim...
by RetiredCSProf
Fri Mar 30, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: When did you know your kids would go to college?
Replies: 91
Views: 4399

Re: When did you know your kids would go to college?

When my son was 8 months old, he turned his toys upside-down to see how they worked. The parenting guide I was reading predicted that, based on this behavior, I should save money to send my son to M.I.T. (my brother graduated from MIT). At 4.5 years old, my son was assessed as academically gifted. W...
by RetiredCSProf
Fri Mar 30, 2018 6:38 pm
Forum: Investing - Help with Personal Investments
Topic: Co-worker told me 401k/403b is a bad idea.
Replies: 52
Views: 6014

Re: Co-worker told me 401k/403b is a bad idea.

I understand and, in part, agree with your co-worker. I am 70 and retired; I contributed to a 403B tax-deferred plan for thirty years. A few years before I retired, my company started offering a Roth plan and I wish that I had taken that option. When I started contributing to the 403B plan, I assume...
by RetiredCSProf
Thu Mar 29, 2018 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Los Angeles Condo Purchase Advice
Replies: 53
Views: 3827

Re: Los Angeles Condo Purchase Advice

I live in the LA area also and understand your concern about the rising costs in rent and housing. In my area, the average purchase price of a 2000 sq ft, three-bedroom condo has risen by 33% in the past three years, that is, from $700K to $930K. Most years home prices go up, but not always. If you ...
by RetiredCSProf
Tue Mar 20, 2018 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of College vs Starting Income
Replies: 94
Views: 4503

Re: Cost of College vs Starting Income

More students are continuing on to college than 50 years ago. At public schools, government funding has not kept pace with the increasing enrollment -- that is, even if public funding were increased each year per student at the rate of inflation, it would still fall short because there are more stud...
by RetiredCSProf
Tue Mar 20, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 13189

Re: Need advice re: Liberal Arts Colleges...

Thought of getting some advice here, in case Bogleheads have kids who have degrees from Liberal Arts Colleges (LACs) in Social Sciences - Political Science/Public Policy/History/Economics. ... - Most LACs are out in the Boonies. I have a hard time believing companies would go on-campus to the middl...
by RetiredCSProf
Sat Mar 17, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 13189

Re: Need advice re: Liberal Arts Colleges...

It takes certain kind of people to be a STEM person. If your daughter is not one of those, you should not push her toward that major. I take offense at this generalization of a "STEM person." After 40 years of experience in working in the STEM industry, I have to say that it takes all kinds of peop...
by RetiredCSProf
Fri Mar 16, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: New job transition and pregnant - when to inform employer?
Replies: 30
Views: 2622

Re: New job transition and pregnant - when to inform employer?

We've had a lot of good news this week. This time we celebrated with some chocolate, since pregnant women should abstain from alcohol. Congratulations on all the exciting news! Caffeine is not good for pregnancy, either. Check on your medical insurance coverage. Years ago, I had a colleague who cha...
by RetiredCSProf
Thu Mar 15, 2018 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out inherited IRA or just take RMD's?
Replies: 19
Views: 1514

Re: Cash out inherited IRA or just take RMD's?

There is no "age limit" for non-spouses withdrawing from inherited RMDs; however, the annual RMD is calculated based on the beneficiary's life expectancy (80ish). The annual RMD for the original IRA owner is calculated based on the possibility of living to 115. Theoretically, I can withdraw RMDs ann...
by RetiredCSProf
Thu Mar 15, 2018 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 13189

Re: Need advice re: Liberal Arts Colleges...

I recommend two years at a community college before transferring to a four-year school. That was my son's choice after realizing that he had no idea what subject he wanted to major in. He's now waiting to hear back on his transfer applications to UC's and LACs. By the way, it's easier to transfer in...
by RetiredCSProf
Thu Mar 15, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Letter of Intent vs Purchase Agreement for Vacant Land
Replies: 1
Views: 226

Letter of Intent vs Purchase Agreement for Vacant Land

My siblings and I jointly own a large tract of vacant land that we want to sell. We have an offer from a developer. The offer is contingent on their getting town approvals for development -- may take 1-2 years to close. We reached an agreement on price and basic terms. I asked our listing agent to d...
by RetiredCSProf
Wed Mar 14, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 140
Views: 13779

Re: New Car: Ever make sense to lease?

1) I wasn't planning to purchase a car yet: I leased a car in July - 1st time I have ever done this. My previous car was a 20-year old Lexus, which my son (new driver) totaled when he hit a cylinder in the parking garage at community college. Car was drivable but not worth fixing. 2) We needed to ma...
by RetiredCSProf
Sat Mar 10, 2018 7:53 pm
Forum: Investing - Help with Personal Investments
Topic: Need help in comparing HELOC Rates
Replies: 4
Views: 580

Re: Need help in comparing HELOC Rates

Update on my HELOC -- approved. I've been thinking about the question I was asked about what problems I had with my home improvement contract. In summary, I was given an initial estimate for gutting and remodeling two bathrooms, and ended up with a bill that was nine times the original estimate. The...
by RetiredCSProf
Fri Mar 02, 2018 3:18 am
Forum: Personal Consumer Issues
Topic: New construction woes
Replies: 30
Views: 3060

Re: New construction woes

I feel your pain. I am in the midst of a legal dispute over a major renovation of my home in California. Laws vary by state. Here are a few suggestions: 1) Do not pay the contractor another penny until or unless you are completely satisfied. 2) Find the website for your state's Contractors State Lic...
by RetiredCSProf
Tue Feb 27, 2018 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: paying for child's college tuition - does it count towards the limit for gift tax?
Replies: 40
Views: 3063

Re: paying for child's college tuition - does it count towards the limit for gift tax?

I see that this question has come up previously, but I am not seeing a clear, agreed-on answer in the responses
Gift tax and gifts to children
by RetiredCSProf
Tue Feb 27, 2018 1:28 am
Forum: Personal Finance (Not Investing)
Topic: paying for child's college tuition - does it count towards the limit for gift tax?
Replies: 40
Views: 3063

Re: paying for child's college tuition - does it count towards the limit for gift tax?

My understanding is that the Gift Tax does not apply to dependents. So, answer depends partly on your child's age and whether she is a full-time student
by RetiredCSProf
Tue Feb 27, 2018 1:23 am
Forum: Investing - Help with Personal Investments
Topic: Please help me save my parents' retirement
Replies: 33
Views: 4205

Re: Please help me save my parents' retirement

My biggest expense when I retired was medical insurance -- until I was old enough to start Medicare. Before retiring, I was paying about $200 per month in medical insurance premiums to cover myself and my teenage son. After retiring, the premiums increased to $1200 per month until I turned 65. Also,...
by RetiredCSProf
Sun Feb 25, 2018 12:17 am
Forum: Investing - Help with Personal Investments
Topic: Low-cost Financial Advisor options for parents
Replies: 18
Views: 1167

Re: Low-cost Financial Advisor options for parents

Hi, I am looking for a low-cost financial advisor for my parents. They have about $1.4M, they are ages 71 and 73, and they only need to take their required minimum distributions (RMD) each year. Pension+Social Security income totals about $150K/year, in a low cost-of-living city, where they own the...
by RetiredCSProf
Fri Feb 23, 2018 10:40 pm
Forum: Personal Consumer Issues
Topic: I week in California, Road Trip Planning
Replies: 64
Views: 3778

Re: I week in California, Road Trip Planning

Way too many cities for 7 days, you'll spend most your time driving. Delete Sacramento and San Diego. Split your days between LA and SF. Then check the threads on LA and SF. Really nothing interesting to see in Sac. Most Californians just drive past Sac on the way to Tahoe. Totally agree with this....
by RetiredCSProf
Wed Feb 21, 2018 12:48 am
Forum: Investing - Theory, News & General
Topic: Statistic:Percent of people in LTC with a surviving spouse?
Replies: 8
Views: 1179

Re: Statistic:Percent of people in LTC with a surviving spouse?

Why does the statistic matter? If you are planning, then consider all possibilities. Examples: 1) My Mom out-lived my Dad by over 12 years; she moved into assisted living at age 98 and had more than enough money to pay for her six-month stay in assisted living, at a cost of $20K per month for round-...
by RetiredCSProf
Tue Feb 20, 2018 12:26 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 149
Views: 7899

Re: Long term care insurance

I have an asset-based LTC policy with Lincoln Financial. I paid extra for an inflation rider. I purchased the policy with a single, lump sum premium so that I do not need to worry about annual increases in the premium.
by RetiredCSProf
Wed Feb 14, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage qualifying when retired
Replies: 6
Views: 862

Re: Mortgage qualifying when retired

Lenders look for guaranteed income, a good credit score, and equity in the home. I am 70 and have been retired for several years. I recently applied for a HELOC. The lender asked for the following: - credit score - evidence of social security monthly payments - evidence of monthly pension - access t...