Search found 697 matches

by FoolMeOnce
Sun Nov 10, 2019 10:19 am
Forum: Personal Consumer Issues
Topic: House for Sale--How Much to Tell Potential Buyer
Replies: 35
Views: 2825

Re: House for Sale--How Much to Tell Potential Buyer

If one of these particular houses are for sale, what do you all think of initiating a conversation with people after they exit the open house, praising the neighborhood, but letting them know of the daily leaf blower noise? Why is it any of your business? It's not my direct business, since I am not...
by FoolMeOnce
Sat Nov 09, 2019 8:03 pm
Forum: Personal Consumer Issues
Topic: House for Sale--How Much to Tell Potential Buyer
Replies: 35
Views: 2825

Re: House for Sale--How Much to Tell Potential Buyer

There's a chance you incur some legal liability if you interfere with someone else's business transaction (or attempted transaction) in the way you propose. If you really are that concerned about it, can you find a way to include a warning in the association documents that potential buyers would see...
by FoolMeOnce
Mon Nov 04, 2019 5:00 pm
Forum: Personal Consumer Issues
Topic: Paying a contractor in cash
Replies: 48
Views: 1601

Re: Paying a contractor in cash

So here's the specific payment schedule: ------- $1,000 deposit due to hold schedule $9,800 due on day 1 of construction start up (demo) $9,800 due on day 5,10,15,20,25,30 $7,632.23 due on day 35 $5,142.82 due upon day 40/completion/city sign off/owner walk ------- I'm thinking the payment schedule...
by FoolMeOnce
Mon Nov 04, 2019 4:58 pm
Forum: Personal Consumer Issues
Topic: Paying a contractor in cash
Replies: 48
Views: 1601

Re: Paying a contractor in cash

For the worry about <10k withdrawals, that is easily fixable: withdraw more than $10k. The contact does not obligate $9,800 withdrawals.

Still seems like a large project for physical cash payments.
by FoolMeOnce
Sun Nov 03, 2019 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Refi advice
Replies: 9
Views: 570

Re: Refi advice

As the above post suggests, if you have 15 years left now and refi into a 15 year term at a lower rate, you shouldn't be paying more interest.
by FoolMeOnce
Sat Nov 02, 2019 7:57 pm
Forum: Personal Consumer Issues
Topic: Wallets [Do you carry a wallet?]
Replies: 102
Views: 8208

Re: Wallets

I never really considered going completely wallet free. However, I did reduce quite a bit via the Bellroy Slim Sleeve a couple of years ago. 3 credit cards Driver's license Health insurance card Few 20s or a fifty in cash My phone is an iphone SE...also can't imagine any larger. +1 for Bellroy. I d...
by FoolMeOnce
Fri Nov 01, 2019 3:47 pm
Forum: Personal Investments
Topic: Best way to sell off invididual stock investment portfolio?
Replies: 14
Views: 1295

Re: Best way to sell off invididual stock investment portfolio?

Also kinda glad I didn't make any moves, the portfolio is up another 1% today. :) VTI is also up 1% today, so it would be a wash. Which brings up another point. If you plan to sell at Schwab, transfer cash to vanguard, and then buy at vanguard, you will be out of the bathroom for a few days. You do...
by FoolMeOnce
Wed Oct 30, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4115

Re: Do I Have a Crummy Local Government Pension?

It sounds like your salary now is around $100k. You say you expect raises that might slightly outpace inflation. Using 3% annual raises, at age 60 in 21 years, your final average salary over the last 5 years will be around $170,000. You will get 37.5% of that, or $63,750, for life. An equivalent 4% ...
by FoolMeOnce
Tue Oct 29, 2019 11:04 pm
Forum: Personal Investments
Topic: Am I doing this right? Using a money manager...
Replies: 24
Views: 2322

Re: Am I doing this right? Using a money manager...

If your advisor has you in low-cost funds and is not churning through funds for commissions, and if you are well diversified, and because your non-investment income matches your expenses and soon will double your expenses, I see no problem paying 0.6% to not have to deal with any of this if you don'...
by FoolMeOnce
Sat Oct 26, 2019 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed on interesting PSLF situation - should we change course?
Replies: 25
Views: 1327

Re: Advice needed on interesting PSLF situation - should we change course?

With that income, you shouldn't even miss 80k. Seems worth it just to not have to think about this stuff any more.
by FoolMeOnce
Sat Oct 26, 2019 10:10 am
Forum: Personal Investments
Topic: Early 60s with a few questions
Replies: 6
Views: 1157

Re: Early 60s with a few questions

It is often best for one spouse to claim SS early and the other at 70. Play around with some SS calculators.
by FoolMeOnce
Fri Oct 25, 2019 3:28 pm
Forum: Personal Investments
Topic: TD Ameritrade Money Market Mutual fund
Replies: 7
Views: 490

Re: TD Ameritrade Money Market Mutual fund

I think you'll need to call to get a good cash sweep option.

Read here for more: viewtopic.php?f=1&t=269305&hilit=Sweep
by FoolMeOnce
Mon Oct 21, 2019 1:12 pm
Forum: Personal Investments
Topic: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes
Replies: 27
Views: 3010

Re: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes

Illinois does an actuarial adjustment every 3-5 yrs (?) which has lowered my expected future pension significantly over the years. I am tier 1 and have not payed into the system for years. My main issue is whether it would be worthwhile to get a job with Illinois again so that I could get more pens...
by FoolMeOnce
Mon Oct 21, 2019 1:10 pm
Forum: Personal Investments
Topic: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes
Replies: 27
Views: 3010

Re: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes

My best guess is if the pension enters insolvency or the state files for bankruptcy (both likely options in the next market downturn), a judge will implement measures similar to Detroit’s bankruptcy. You may see a cap on the amount a pension can pay out in one year and the cola guarantee increase b...
by FoolMeOnce
Mon Oct 21, 2019 11:15 am
Forum: Personal Investments
Topic: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes
Replies: 27
Views: 3010

Re: Odds of Illinois Teacher Pension Solvency to use for Planning Purposes

I look at the current funding level of any future defined benefits to estimate for my planning purposes. For example, if the planned future source is funded at 75%, then I multiply that rate by the "expected" benefit and plan based upon that lower amount. I update that ratio as new information beco...
by FoolMeOnce
Mon Oct 21, 2019 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Can you claim financial independence with kids still in school
Replies: 80
Views: 6063

Re: Can you claim financial independence with kids still in school

Wealth does not pass 3 generations. The mistake repeats itself all the time. It is nature's way to get rid of rich family and legacies. It works very well. Wealth does not pass 3 generations. The system works to ensure fairness and equality. It certain can pass 3 or more generations. It just isn't ...
by FoolMeOnce
Mon Oct 21, 2019 9:44 am
Forum: Investing - Theory, News & General
Topic: Pensions - Why Isn't Time In the Market a Part of the Formula?
Replies: 30
Views: 3748

Re: Pensions - Why Isn't Time In the Market a Part of the Formula?

OP- You’ve highlighted what I consider to be one of the fundamental problems with traditional defined benefit pensions. It was a feature. If you are an employer, why would you give money away to somebody who’s not working? They’re not crazy. It is crazy. Consider the OP's example. Employee A - Hire...
by FoolMeOnce
Mon Oct 21, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Can you claim financial independence with kids still in school
Replies: 80
Views: 6063

Re: Can you claim financial independence with kids still in school

Wealth does not pass 3 generations. The mistake repeats itself all the time. It is nature's way to get rid of rich family and legacies. It works very well. Wealth does not pass 3 generations. The system works to ensure fairness and equality. It certain can pass 3 or more generations. It just isn't ...
by FoolMeOnce
Sat Oct 19, 2019 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Can you claim financial independence with kids still in school
Replies: 80
Views: 6063

Re: Can you claim financial independence with kids still in school

This is an important point. You can't get that time back, so if you can cut back while still enabling yourselves to help your kids launch if necessary, find that balance. FoolMeOnce, A bigger picture question is Is that "help" good or bad for the kids' growth? It may be counter-productive. KlangFoo...
by FoolMeOnce
Sat Oct 19, 2019 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Can you claim financial independence with kids still in school
Replies: 80
Views: 6063

Re: Can you claim financial independence with kids still in school

...she feels it is our responsibility till the end to make sure they are settled in life... On a serious note, I have read of a number here on BH who have retired while their kids are still at home. Not many Dads get to go to afternoon athletic events and visit their kids’ classrooms. And all summe...
by FoolMeOnce
Fri Oct 18, 2019 10:35 am
Forum: Personal Finance (Not Investing)
Topic: I bought a STOLEN vehicle!!!
Replies: 106
Views: 15201

Re: I bought a STOLEN vehicle!!!

Are you sure the car wasn't stolen from you??? Are you proposing that someone impersonated CHP officials to steal a used Altima worth $13k? That's funny or possibly sad. Cheers Yes, why not? It's more profitable and less violent than stealing the cash from someone's wallet. The story sounded odd.
by FoolMeOnce
Fri Oct 18, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: I bought a STOLEN vehicle!!!
Replies: 106
Views: 15201

Re: I bought a STOLEN vehicle!!!

Are you sure the car wasn't stolen from you???
by FoolMeOnce
Thu Oct 17, 2019 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: What percent of net worth should a persons house be?
Replies: 141
Views: 10324

Re: What percent of net worth should a persons house be?

I always love the "can I afford this $1M house?" In my mind, I'm thinking, who in their right mind would want a $1M house? I don't necessarily want a million dollar house, but I'd love to have a $300,000 house on $700,000 of land. Haha....good. I'm with you there. $700K of land with the house right...
by FoolMeOnce
Tue Oct 15, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Home appraisal 8% less sq ft than listing
Replies: 42
Views: 2613

Re: Home appraisal square ft less than Seller Listing

In addition to the above, the appraisal didn't make the house smaller. You've seen it, you liked it, you thought it was worth $X. You are still buying that same house that is the same size that you saw and walked through. I wouldn't worry about the sqft determined by the appraisal.
by FoolMeOnce
Fri Oct 11, 2019 9:22 am
Forum: Investing - Theory, News & General
Topic: Is home bias really biased?
Replies: 12
Views: 1017

Re: Is home bias really biased?

There is a lot of confusion on this, some say yes, some say no. Some say, many big US companies are operating globally therefore you don't need international stocks in your portfolio. https://www.bogleheads.org/forum/viewtopic.php?t=276206 Question: Do I really need to have International equities i...
by FoolMeOnce
Wed Oct 09, 2019 8:25 pm
Forum: Personal Consumer Issues
Topic: Should I download Android 10?
Replies: 12
Views: 791

Re: Should I download Android 10?

Pixel 3 here. Had some glitches with Nova Launcher after update that went away today, even though Nova did not update. Not sure how that sorted out. If you use a third party launcher, you might want to wait for them to update to work out any new quirks, though Nova is running fine for me now.
by FoolMeOnce
Wed Oct 09, 2019 8:07 pm
Forum: Personal Consumer Issues
Topic: Do you carry your passport with you during international travel?
Replies: 110
Views: 9536

Re: Do you carry your passport with you during international travel?

I recently renewed and also got a passport card. I plan to keep my passport card with me while leaving the passport in my lodgings. While I think the card only works for border crossings with Mexico and Canada, it has all the pertinent info on it and I hope would satisfy whatever authority is asking...
by FoolMeOnce
Tue Oct 08, 2019 10:39 pm
Forum: Personal Investments
Topic: Investment help- do we sell to pay down a mortage?
Replies: 12
Views: 1284

Re: Investment help- do we sell to pay down a mortage?

Are you sure you rental is cash-flow positive? You don't list maintenance or vacancies in your expenses. And do you pay a property manager? It sounds like you moved away.
by FoolMeOnce
Tue Oct 01, 2019 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

I agree the spending behavior needs to change. Though if she takes out another personal loan, or continually refinances her home, and then carries the debt to her grave, I guess that solves that. Unless debt is an issue for qualifying for Medicaid skilled nursing facility, it ever comes to that (tho...
by FoolMeOnce
Tue Oct 01, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

The plan is to sell the house, pay off the $135k personal loan. Leaves about $60k. $30k down on a $150k home, keep home payments under $650/mo. $30k e-fund (maybe 25k after moving costs). Property taxes will drop about $5.5k Use recently started $15k/yr divorced spousal SS to pay down medical and ot...
by FoolMeOnce
Tue Oct 01, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Home repair - paying cash (dollar bills)
Replies: 60
Views: 5106

Re: Home repair - paying cash (dollar bills)

I would use cash before ever using Zelle. You have zero protection with Zelle and Clark Howard rails against using Zelle in everything but for really close friends. What recourse is available for cash that is not for Zelle? With Zelle at least I can prove I paid. FYI I'm paying 30% down, 70% upon s...
by FoolMeOnce
Tue Oct 01, 2019 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Calculating expected SS benefits if already collecting spousal benefits
Replies: 16
Views: 1082

Re: Calculating expected SS benefits if already collecting spousal benefits

Thanks. That said, I am not sure I have saved any of my previous earnings data reports. Perhaps the easiest route would be just to wait until I turn 70 (laughing). Unfortunately I have less than 3 years to wait and I expect they will pass quickly. I am surprised that such simple info is not availab...
by FoolMeOnce
Mon Sep 30, 2019 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating expected SS benefits if already collecting spousal benefits
Replies: 16
Views: 1082

Re: Calculating expected SS benefits if already collecting spousal benefits

You can download the SSA's Detailed Calculator. It is awkward to use and you need to manually input your earnings data. It will give you your PIA. Then you can calculate delayed retirement credits to get your number at your planned age.

https://www.ssa.gov/oact/anypia/anypia.html
by FoolMeOnce
Mon Sep 30, 2019 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Home repair - paying cash (dollar bills)
Replies: 60
Views: 5106

Re: Home repair - paying cash (dollar bills)

6Pack wrote:
Mon Sep 30, 2019 4:59 pm
When negotiating with contractors I always ask for the cash rate. I’ve only had one person say credit cards and cash are the same price.
I'm accustomed to a cash discount versus credit card. But Zelle/QuickPay/Venmo/etc is usually treated as cash, since it is an instant movement between accounts.
by FoolMeOnce
Mon Sep 30, 2019 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Home repair - paying cash (dollar bills)
Replies: 60
Views: 5106

Re: Home repair - paying cash (dollar bills)

What kind of work is it? How good are you at inspecting this kind of work and how likely is it that it could appear good but then fail prematurely? If it was say framing a finished basement or installing carpet then I might be comfortable with cash. A tile shower? Not comfortable with cash. But if ...
by FoolMeOnce
Mon Sep 30, 2019 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Home repair - paying cash (dollar bills)
Replies: 60
Views: 5106

Home repair - paying cash (dollar bills)

I have contracted with someone to do some work on my house for $6000. I found the company through Yelp, plenty of reviews, but it appears they then sub out to non-employers. So I am paying the worker directly. He offers a 5% discount for paying cash. Physical bills, not just other forms of instant p...
by FoolMeOnce
Sun Sep 29, 2019 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

I'm stuck on the car. Because it what universe does a $440 per month car payment (and whatever the attendant insurance? 300 per month?) make any sense to her? Is she intellectually limited in some way, or developing some cognitive issues? Has she always spent more than she earns or is this recent? ...
by FoolMeOnce
Sun Sep 29, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

UPDATE: She easily realized she has to keep working at least until max SS at 70. She has about $200k in home equity and a remaining $110k mortgage at 5%, $135k personal loan debt at 5%, $28k car loan, $12k medical debt acting no interest for a year. Only set besides the home (and car, I suppose) is...
by FoolMeOnce
Sun Sep 29, 2019 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

UPDATE: She easily realized she has to keep working at least until max SS at 70. She has about $200k in home equity and a remaining $110k mortgage at 5%, $135k personal loan debt at 5%, $28k car loan, $12k medical debt acting no interest for a year. Only set besides the home (and car, I suppose) is...
by FoolMeOnce
Sun Sep 29, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

BarbBrooklyn wrote:
Sun Sep 29, 2019 2:18 pm
28K car loan? What kind of car does she have?

A Honda Fit costs about 20k, fully loaded. She is way, WAY overspending. How is that going to stop?
I know, it's crazy. RAV4.
by FoolMeOnce
Sun Sep 29, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Help me prepare to help mother-in-law
Replies: 53
Views: 4758

Re: Help me prepare to help mother-in-law

UPDATE: She easily realized she has to keep working at least until max SS at 70. She has about $200k in home equity and a remaining $110k mortgage at 5%, $135k personal loan debt at 5%, $28k car loan, $12k medical debt accruing no interest for a year. Only debt besides the home (and car, I suppose) ...
by FoolMeOnce
Sun Sep 29, 2019 10:53 am
Forum: Personal Investments
Topic: Stepped up basis in inherited taxable account
Replies: 7
Views: 762

Re: Stepped up basis in inherited taxable account

You might be able to manually adjust it online with your broker and then get your 1099 showing the stepped up basis, rather than doing it at tax time. I think TD Ameritrade lets users do that.
by FoolMeOnce
Thu Sep 26, 2019 11:11 am
Forum: Personal Investments
Topic: 401k Contribution - help me think this through
Replies: 14
Views: 1009

Re: 401k Contribution - help me think this through

How long do you intend to work? You will not be paying the 401k fees forever. Consider whether you should contribute to a Roth 401k (after first filling your Roth IRA, of course) and then roll it over into a Roth IRA when you leave this employer. A few years of 46bp might be worth the tax-free gains...
by FoolMeOnce
Wed Sep 25, 2019 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 109
Views: 18468

Re: Success stories of NOT buying more/too much house

We live in Southern California and recently upgraded from a 2,300 sqft ($1.25M) to a 5,700 sqft home ($1.975M). The reasons we did it? I wanted a much bigger lot with entertaining backyard (I watch college football the entire fall), a casita for my sister who lives with us during the week and takes...
by FoolMeOnce
Tue Sep 24, 2019 12:09 pm
Forum: Personal Consumer Issues
Topic: Deleted
Replies: 262
Views: 21571

Re: A 'really good book' you did NOT enjoy

I'm finding my 'to read' list getting inexorably longer. With work, family, personal obligations, there's not enough time, even to optimistically plan on doing in a far away retirement. Need a way to winnow down a bit. Tell me about a book that you was reputed to be excellent, that you did not enjo...
by FoolMeOnce
Tue Sep 24, 2019 11:53 am
Forum: Personal Consumer Issues
Topic: Physical activity suggestions for a non athletic youth
Replies: 189
Views: 9563

Re: Physical activity suggestions for a non athletic youth

One fun activity is if there are "ninja" gyms in your location. Some have opened near me, based on the things you see in American Ninja Warrior - basically fitness related obstacle courses. A fun way to exercise, build endurance, strength, and balance. Ones near me have classes for kids even younge...
by FoolMeOnce
Mon Sep 23, 2019 3:11 pm
Forum: Personal Consumer Issues
Topic: Physical activity suggestions for a non athletic youth
Replies: 189
Views: 9563

Re: Physical activity suggestions for a non athletic youth

One fun activity is if there are "ninja" gyms in your location. Some have opened near me, based on the things you see in American Ninja Warrior - basically fitness related obstacle courses. A fun way to exercise, build endurance, strength, and balance. Ones near me have classes for kids even younger...