Search found 37 matches

by colddeadfish
Sun Feb 11, 2018 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to move to a lower paying career?
Replies: 53
Views: 5101

Re: Can I afford to move to a lower paying career?

I grew up in Mn and I can tell you that you will never meet nicer, more helpful and generous people. Yes, the weather sucks at times but the extremes in weather seem to be less every year. What are your hobbies? Do you like fishing, canoeing, generally being outdoors? MN has one of the best park and...
by colddeadfish
Sun Feb 11, 2018 10:15 pm
Forum: Personal Consumer Issues
Topic: Home buying: how to send postcards to neighborhood we want to live in?
Replies: 38
Views: 4146

Re: Home buying: how to send postcards to neighborhood we want to live in?

I’d like to prospect our target neighborhood with a nice photo postcard of our family that introduces us and politely asks if they’re thinking of selling. We occasionally get letters like that and I just assume that they are from a flipper looking to lowball people. Our large subdivision has a bull...
by colddeadfish
Wed Dec 20, 2017 12:41 am
Forum: Investing - Theory, News & General
Topic: Is it worth investing with 15% LTCG tax rate!?
Replies: 25
Views: 2950

Re: Is it worth investing with 15% LTCG tax rate!?

I am not new to investing in index funds and all but kinda newbie to figure out this below. Our household income gross falls within 28% for 2017. We max out 401k. No roth but 529. Age approx 41. We have some discretionary amount around 100k to invest, ofcourse in index funds. One thing Iam trying t...
by colddeadfish
Sun Dec 17, 2017 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Confused about memory care and assisted living
Replies: 14
Views: 1465

Re: Confused about memory care and assisted living

It is a very difficult situation. Having been through it a couple of times (no veteran benefits) I agree with RM that calling and visiting multiple facilities is key. I know that in the state of MN medicare will defer reimbursement for extended assisted living until your parents property is sold. S...
by colddeadfish
Sat Dec 16, 2017 11:48 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about memory care and assisted living
Replies: 14
Views: 1465

Re: Confused about memory care and assisted living

It is a very difficult situation. Having been through it a couple of times (no veteran benefits) I agree with RM that calling and visiting multiple facilities is key. I know that in the state of MN medicare will defer reimbursement for extended assisted living until your parents property is sold. So...
by colddeadfish
Sat Dec 16, 2017 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate sale- opinions requested
Replies: 8
Views: 691

Re: Real Estate sale- opinions requested

A good alternative is to contact them and tell them that you are the type of person that does everything up front and by the book. You will have a Real Estate agent list the property and will consider their offer along with others. Therefore you have fulfilled your "moral obligation" that you feel ...
by colddeadfish
Sat Dec 16, 2017 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate sale- opinions requested
Replies: 8
Views: 691

Re: Real Estate sale- opinions requested

You could have a professional appraisal done to have a price determined and then offer it to the parents at that price. If they don't promptly follow through simply offer it to the market via a real estate broker. You have to decide if the cost of the appraisal is worth it to you to have a potentia...
by colddeadfish
Sat Dec 16, 2017 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate sale- opinions requested
Replies: 8
Views: 691

Re: Real Estate sale- opinions requested

I had a similar situation once. A friend was getting married and wanted to buy out my share of the vacation condo we owned. I told him I would split the piece of pie and he could choose. I set the price, and it was up to him whether I paid that price to him, or he paid to me. Ended up with a fair p...
by colddeadfish
Sat Dec 16, 2017 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate sale- opinions requested
Replies: 8
Views: 691

Re: Real Estate sale- opinions requested

If you decide to sell to The Parent you should probably have an attorney draft the agreement of sale and coordinate any seller details relating to closing. I once had a neighbor interested in buying a property I was looking to sell. His strategy seemed to be to lowball me somewhat while continuousl...
by colddeadfish
Sat Dec 16, 2017 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate sale- opinions requested
Replies: 8
Views: 691

Real Estate sale- opinions requested

Hello, I am planning to sell my half duplex in the next year and have an unusual circumstance. The parent of my duplex-mate has reached out to me and offered to buy my side. Initially this seems like a no brainer, but I have a contentious relationship with the child (the owner of the other half). I ...
by colddeadfish
Fri Dec 08, 2017 1:08 am
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 6727

Re: What do Bogleheads say when they don't want to spend money?

My dad talks about how much harder it was to say "no" to us as kids and teens once "we can't afford that" wasn't accurate. Meg77, I do not have that problem. My response tends to be if you want it, you can pay for it. My kids have the money to pay for those things. KlangFool Good to know that your ...
by colddeadfish
Fri Dec 08, 2017 1:03 am
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 6727

Re: What do Bogleheads say when they don't want to spend money?

To somebody I really like: "because I don't want to" To people I don't like: "mind your own business" To everybody else: "because I'll be lucky to keep my house" I want most people to think I'm about to lose my house (and that is really easy, because that is usually what they want to believe). 8-) ...
by colddeadfish
Fri Dec 08, 2017 12:50 am
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads say when they don't want to spend money?
Replies: 103
Views: 6727

Re: What do Bogleheads say when they don't want to spend money?

Question for you... When most people don't want to spend money on something, they often say they can't afford it. This is probably an accurate statement for most people to make. However, Bogleheads are not average, and it's definitely not accurate for many of us. We certainly can afford a lot of th...
by colddeadfish
Tue Dec 05, 2017 6:56 pm
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 4058

Re: Philanthropy and related issues

Hi Everyone, Op here. Thank you for your responses. Lessons learned from this post: 1. The search engine is your friend. I will use it first from now on 2. Tone is easily/frequently misinterpreted in chat format 3. It would have been better to ask a specific question about donating and volunteering ...
by colddeadfish
Sun Dec 03, 2017 4:35 am
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 4058

Re: Philanthropy and related issues

HIinvestor wrote:
Sun Dec 03, 2017 4:30 am
I give a lot of time and financial support to the local nonprofit I founded and related national nonprofits as well as some to public health organizations.
Thanks!!! I think I am not doing the quote thing right.

I want hear more....please :D
by colddeadfish
Sun Dec 03, 2017 4:25 am
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 4058

Re: Philanthropy and related issues

Yes, it's kind of appalling sometimes to meet really wealthy people and realize how little they give. But charity is a very personal thing and I don't want people giving because they feel guilty or shamed or heaven forbid legally compelled like with taxes. This year we're giving to international and...
by colddeadfish
Sun Dec 03, 2017 12:54 am
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 4058

Philanthropy and related issues

Hi All, I am very new to the forum and I certainly don't want to alienate anyone ( or break the rules). I genuinely appreciate the advice I have received. I have yet to see any posts by the financially fortunate people here about donating some of their wealth to charity or other non-profit causes. I...
by colddeadfish
Sat Nov 25, 2017 1:06 am
Forum: Personal Consumer Issues
Topic: Making collegebound Kid Financially Savvy Questions..
Replies: 54
Views: 4256

Re: Making collegebound Kid Financially Savvy Questions..

Hi Bamboo, I read through most of the comments. I think the most important thing my father taught me as I was heading off to college and beyond was never spend more than you have. Have a credit card = yes but always pay it off in full every month. I recently found out that most of my family consider...
by colddeadfish
Mon Nov 06, 2017 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

Thanks everyone,

FYI

Just confirmed with Schwab that I personally need to request that they step up the investments at the time of my father death to get the actual cost basis amount.

Seems strange that they wouldn't automatically do this at the time of transfer.

Live and Learn :sharebeer
by colddeadfish
Mon Nov 06, 2017 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

You have a 100% new basis. The fact your father added you as a joint tenant has no effect. It was all included in your estate and thus takes on a new basis. You have no loss to realize. It's unfortunate the sale wasn't made during his lifetime when the loss possibly could have been used. Gill Inter...
by colddeadfish
Mon Nov 06, 2017 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

You have a 100% new basis. The fact your father added you as a joint tenant has no effect. It was all included in your estate and thus takes on a new basis. You have no loss to realize. It's unfortunate the sale wasn't made during his lifetime when the loss possibly could have been used. Gill Thank...
by colddeadfish
Mon Nov 06, 2017 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

celia wrote:
Mon Nov 06, 2017 2:14 pm
??? Were you listed as a beneficiary on the account or a co-owner? If you were a co-owner, did you pay your half of taxes on the gains the account realized (from sales) each year and your half of the distributions?
I never took any gains or losses from his account while he was alive.
by colddeadfish
Mon Nov 06, 2017 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

delamer wrote:
Mon Nov 06, 2017 2:14 pm
Check this thread: viewtopic.php?t=201223
Thanks for the link. Does this mean that the new basis just hasn't been accounted for yet. My father passed away in July.
by colddeadfish
Mon Nov 06, 2017 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

Edit: I just saw your new post which makes your basis different if you have been an owner for more than these two years. How much was it worth when you were put down as a co-owner (ie, when half of the account was gifted to you)? [/quote] We have had joint account since the inception ~1996. My fathe...
by colddeadfish
Mon Nov 06, 2017 2:09 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

celia wrote:
Mon Nov 06, 2017 2:07 pm
When did the person die? This stock has been valued at around $1/share for the last two years, so if they died during the last two years, your basis is around $3,000. Not much gain or loss since then.
Thanks,
So even if it shows this loss in my brokerage account it isn't really there?
by colddeadfish
Mon Nov 06, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Re: Inherited big loss long term equity

Jack FFR1846 wrote:
Mon Nov 06, 2017 2:02 pm
I'm confused. If you inherited these equities, why isn't the value set to that on the date of death? Or have they dropped this much since the date of death?
I was already a joint tenant on the brokerage account so it was just transferred to my individual account when my father passed.
by colddeadfish
Mon Nov 06, 2017 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited big loss long term equity
Replies: 21
Views: 1408

Inherited big loss long term equity

Hello, I inherited ~3000 shares of a stock (CPST) this year ( with ~$60,000 in losses :oops: ). I was planning to sell off ~$3000/year until I can clear it out of the account (around 20 years at this point). I'm currently in the 15% tax bracket so I will pay no tax in capital gains at least for the ...
by colddeadfish
Tue Sep 26, 2017 8:26 pm
Forum: Investing - Theory, News & General
Topic: Real estate, the 2008 crash and sub prime loans (sucess story)
Replies: 4
Views: 832

Re: Real estate, the 2008 crash and sub prime loans (sucess story)

I don't disagree. Maybe my point was unclear:

If people could benefit from a risky loan but bought within their means it might be a different story.
by colddeadfish
Tue Sep 26, 2017 7:45 pm
Forum: Investing - Theory, News & General
Topic: Real estate, the 2008 crash and sub prime loans (sucess story)
Replies: 4
Views: 832

Real estate, the 2008 crash and sub prime loans (sucess story)

Hello, I am new to the forum and this may have been covered before but I'm a lazy searcher so here it goes: In 1998 I bought my first home with (gasp) friends . None of us made very much money but all of us qualified for a non-income verified loan ( I don't think this exists any more :( In three yea...
by colddeadfish
Tue Sep 26, 2017 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Re: Financial advice pay off mortgage now or keep cash for closing

Without having all the details as to the term of your current loan and how far into it you are, I can't build the amoritization schedule to figure out exactly how much interest you will pay over the next 15 months since I assume you are paying some principal every month. However, and ignoring tax d...
by colddeadfish
Mon Sep 25, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Re: Financial advice pay off mortgage now or keep cash for closing

Hi, The building is under construction and they cannot do closings until the building has a CO or is substantially completed. Since there are potentially 300+ people moving in the developers want to spread closings/moving in out over 4 months. Very interesting. Good to know to know that in all-cash...
by colddeadfish
Mon Sep 25, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Re: Financial advice pay off mortgage now or keep cash for closing

The closing for the condo is approx. 15 months away. Just curious. Why is the closing so far away? I feel like I had to push to get my lender to allow a 60 day closing without paying extra for a rate lock extension. Hi, The building is under construction and they cannot do closings until the buildi...
by colddeadfish
Mon Sep 25, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Re: Financial advice pay off mortgage now or keep cash for closing

Good point, I probably won't pay it off completely.

I am also in Colorado. In the "hot" LOHI area of Denver with a property value of under $500,000. At this point in time is seems like I could sell it 'as is' with any contingency I want, but things can certainly change in a year.

Cheers!
by colddeadfish
Mon Sep 25, 2017 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Re: Financial advice pay off mortgage now or keep cash for closing

Many thanks to all who responded! I am making plans to pay off the mortgage as quickly as possible. I will need to sell my existing property to pay cash for the new condo but am planning to include a contingency that allows me to rent from the new owners until I can move into the condo. I have no ex...
by colddeadfish
Sun Sep 17, 2017 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Financial advice pay off mortgage now or keep cash for closing
Replies: 13
Views: 1475

Financial advice pay off mortgage now or keep cash for closing

I recently put earnest $ down on a new build condo. The closing for the condo is approx. 15 months away. I have +/- $90,000.00 left on my current mortgage. I have the cash to pay off my current mortgage at any time. I was going to hold this cash at (1.2% apr) to use at closing and then also use my c...
by colddeadfish
Sun Apr 23, 2017 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Help with father's investments - fixed income
Replies: 4
Views: 808

Help with father's investments - fixed income

Hello, I had to move my father into assisted living late last year and sell his house after a broken hip and some cognitive problems. He loved his penny stocks and made many high risk investments hoping to strike it rich. He didn’t do all bad but his gambling days are over. This money needs to last ...