Search found 127 matches

by CMD1
Sun Jul 05, 2020 4:56 pm
Forum: Personal Consumer Issues
Topic: Best $10k car for me?
Replies: 32
Views: 2254

Re: Best $10k car for me?

It may be more your needs for the $10k than being able to get a decent car for $10k. We are a family of four and have never spent more than $9k (we only do cash deals). Our latest car is a 2009 Camry we bought 4 years ago for just under $9k with 66k miles from a retired couple. After 4 years it look...
by CMD1
Fri Jul 03, 2020 12:42 am
Forum: Personal Consumer Issues
Topic: Thought about buying a small motor home, but the market is crazy
Replies: 90
Views: 7205

Re: Thought about buying a small motor home, but the market is crazy

I saw a few responses from folks who are tent campers but looking for a little more luxury. I wouldn't put some of their products in the same class as RV's but really am interested in the Taxa trailer products - especially the Cricket and the Tiger Moth. They seem to attract tent campers moving up t...
by CMD1
Fri Jun 26, 2020 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: [thinking about buying a house in LA, wait for RE crash?]
Replies: 72
Views: 5820

Re: [thinking about buying a house in LA, wait for RE crash?]

Most of the comments are from early May. It's still way too early to really know with any degree of certainty. The most recent data we have for used home sales is May which meant those deals went pending in late March and April mostly. It will likely be August before Appraisers have comps that suppo...
by CMD1
Sat Jun 13, 2020 1:18 pm
Forum: Personal Investments
Topic: Rent or Sell Townhouse in Seattle
Replies: 42
Views: 2921

Re: Rent or Sell Townhouse in Seattle

If your on the fence there is always the Amazon meter - how many open corporate roles do they have in Seattle (in your neighborhood) - 8,139 right now. Over 3,000 tech jobs, these numbers are hard to wrap your mind around they are so large for openings....during a pandemic no less.
by CMD1
Sat Jun 13, 2020 12:44 am
Forum: Personal Consumer Issues
Topic: What Size Home For A Family?
Replies: 87
Views: 5551

Re: What Size Home For A Family?

Great topic. We are a family of 4 with a 6 and 8 year old and for a variety of reasons including what we could afford have lived in smaller places - currently 840ft 2 bed + unfinished basement. It's worked but we're ready for something bigger, especially the kitchen and an additional bedroom (1 boy,...
by CMD1
Wed Jun 03, 2020 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Sold long term Rental - Do I need to file Quarterly Return
Replies: 1
Views: 178

Sold long term Rental - Do I need to file Quarterly Return

I recently sold a long term rental and will have a meaningful amount in taxes due for 2020 - recapture + long term capital gains. Can anyone provide an guidance as to whether I need to file a quarterly return to pay now. From what I have researched, as long as my 2020 prepayments/withholdings from m...
by CMD1
Fri Apr 24, 2020 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Chase PPP Failure--Part Deux
Replies: 24
Views: 1959

Re: Chase PPP Failure--Part Deux

Likely because the big banks schemed with big corporations to dole out the money there rather than small biz.

https://www.cnn.com/2020/04/21/business ... index.html
by CMD1
Thu Apr 23, 2020 4:15 pm
Forum: Personal Consumer Issues
Topic: Apple Released a New Low-cost Iphone
Replies: 172
Views: 14732

Re: Apple Released a New Low-cost Iphone

Looking at reviews and getting it for $200 does seem like a good deal for this phone. And I'm outspokenly not an apple fan. The proprietary cables really piss me off, but I'd be willing to try it for $200. The battery also seems very small. How easy is an iPhone to integrate for an Android user? I ...
by CMD1
Mon Apr 13, 2020 12:04 pm
Forum: Personal Investments
Topic: Where to park a house fund?
Replies: 21
Views: 1984

Re: Where to park a house fund?

In your same shoes and just opened a 1.5% savings account with Capital One as we already had the Capital One 360 accounts. We are in Seattle, and I think it's a toss up or better that prices go down but it will take 6 months plus with housing. Right now the good ones are still selling. You might rec...
by CMD1
Wed Apr 08, 2020 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: [Auto insurance companies issuing refunds due to coronavirus]
Replies: 103
Views: 7364

Re: [Auto insurance companies issuing refunds due to coronavirus]

It's the least they can do as they try to fend off the insurance commissioners from forcing them to give their customers back a much larger share of premiums (see the Airline industry and ticket refunds with Congress forcing the issue). The number I've seen reported is that accidents are down ~87% s...
by CMD1
Fri Apr 03, 2020 5:32 pm
Forum: Personal Consumer Issues
Topic: How to get Toilet Paper ? seriously.
Replies: 684
Views: 57219

Re: How to get Toilet Paper ? seriously.

MikeWillRetire wrote: Mon Mar 16, 2020 8:05 pm Go visit an open house.
No open houses allowed in this area. I can't imagine why any MLS would be allowing them at this point.
by CMD1
Tue Mar 31, 2020 11:33 pm
Forum: Personal Consumer Issues
Topic: Did you move for better weather? Did you regret it?
Replies: 108
Views: 8975

Re: Did you move for better weather? Did you regret it?

Anybody move to the drier part of Washington like Yakima or Spokane? What do you think of the weather? We lived in Spokane for years. Since moved on to Atlanta and now Seattle. The weather is great if your into 4 seasons, snowy winters and it's drier, until you consider the amount of snow they get....
by CMD1
Wed Mar 25, 2020 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: How are you going to use your stimulus money?
Replies: 222
Views: 13114

Re: Stimulus Payments

It is for individuals under $75k, couples double that. Plus each child gets $500. Phase outs up to 90k/180k couples. These are likely AGI, not gross income.
by CMD1
Fri Mar 13, 2020 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: How Will Corona Virus affect the Real Estate Market ?
Replies: 53
Views: 5913

Re: How Will Corona Virus affect the Real Estate Market ?

We are under contract to sell currently. It likely will depend on one of two things - do we see wide spread layoffs and do banks stop doing loans like we saw for a while during the great recession.
by CMD1
Mon Mar 02, 2020 7:29 pm
Forum: Personal Investments
Topic: Taxes on Sell of Rental Property
Replies: 7
Views: 751

Re: Taxes on Sell of Rental Property

Besides the 15% capital gains, you will also need to recapture all of the depreciation you took over the 8 years @ 25% - assuming your basis was $200k you likely depreciated around $58k which would mean $14k in taxes. I am in the same boat and this is by far the largest portion of my tax bill for se...
by CMD1
Mon Mar 02, 2020 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Where can I find a financial planner?
Replies: 7
Views: 707

Re: Where can I find a financial planner?

Garrett Planning network is a good source for fee only planners.
by CMD1
Mon Mar 02, 2020 3:20 pm
Forum: Personal Consumer Issues
Topic: Need a cheaper cell phone plan
Replies: 56
Views: 4645

Re: Need a cheaper cell phone plan

Another Cricket customer here - 3 lines for $90. Been years since I've had a big carrier brand. Why pay for it when they all offers off brand prepay plans at much less. For some high data users this could be different.
by CMD1
Thu Feb 20, 2020 4:12 pm
Forum: Personal Investments
Topic: Have 100% Retirement Accounts, Should I invest in NonRetirement Now or Later?
Replies: 18
Views: 1639

Re: Have 100% Retirement Accounts, Should I invest in NonRetirement Now or Later?

There are ways you can possibly withdraw retirement funds prior to 59.5yrs of age without penalty - look into Series of Substantially Equal Payments (SEPP).
by CMD1
Wed Feb 19, 2020 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Invest in career change to Accounting for 37 yr old? Would it be foolish?
Replies: 169
Views: 12937

Re: Invest in career change to Accounting for 37 yr old? Would it be foolish?

I'll add another perspective as a CPA. If you go into corp accounting, in many cases you can branch out into finance areas as well and in the right role your accounting experience will benefit you greatly. Its a good option if you feel stuck by the by the book rules of accounting vs. finance that is...
by CMD1
Tue Feb 18, 2020 3:45 pm
Forum: Personal Consumer Issues
Topic: How big of a car do you need for a kid and his/her stuff?
Replies: 66
Views: 3625

Re: How big of a car do you need for a kid and his/her stuff?

We have one car, a Camry with 2 kids. We've used it for camping trips with a carrier on the roof and other things. No problems, sure a bigger car would be nice but not worth the expense or hassle of daily driving in our urban neighborhood.
by CMD1
Mon Feb 17, 2020 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding Tax Implication of Rental Property sale
Replies: 7
Views: 687

Re: Understanding Tax Implication of Rental Property sale

Your not considering depreciation recapture in your comments. The depreciation recapture can really be impactful when you've owned a rental for a while. Regardless of what tax bracket you are/were in you have to pay 25% of your depreciated amount. So if you assumed the rental less the land at purcha...
by CMD1
Mon Feb 17, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Properties - Keep or Sell?
Replies: 27
Views: 1426

Re: Rental Properties - Keep or Sell?

Any investor looking to purchase your properties is going to look at CAP rates based on your selling price. From your perspective, it isn't really $550k. After selling costs your probably in the ballpark of ~$500k, less whatever mortgage balances you have less ~$60-70k taxes (guess based on capital ...
by CMD1
Mon Feb 17, 2020 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Properties - Keep or Sell?
Replies: 27
Views: 1426

Re: Rental Properties - Keep or Sell?

I think you need to consider the factors you already have laid out + the tax impacts. How long have you owned the properties? Remember, you have to recapture all depreciation at 25% so your tax bill could factor in your final decision if you've owned for a long time, unless you do an exchange. Also ...
by CMD1
Fri Feb 14, 2020 1:10 pm
Forum: Investing - Theory, News & General
Topic: How To Calculate Returns On a Rental Property
Replies: 22
Views: 1234

Re: How To Calculate Returns On a Rental Property

The most common metric is CAP, which is what investors will be looking at if you decide to sell. CAP doesn't take into account whether you have a mortgage or not. It's simply your net operating income (Rent less expenses) / Price. Of course there are other metrics you may find valuable too but this ...
by CMD1
Wed Feb 05, 2020 2:59 pm
Forum: Personal Consumer Issues
Topic: Savannah, GA
Replies: 15
Views: 1530

Re: Savannah, GA

This goes back a while but Ms. Wilkes is a must.

https://mrswilkes.com/
by CMD1
Tue Feb 04, 2020 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 12236

Re: Couples w/ kids: What is/was the most expensive time period of your life?

We are in the K-8 grade range with 2 kids. Our costs didn't change dramatically when the second went to K as we still pay aftercare each week + break camps + summer camps + sports and other activities. I am sure things will increase as they get older although cars are probably not on the agenda in t...
by CMD1
Thu Jan 30, 2020 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase: When does it make sense?
Replies: 34
Views: 2004

Re: Home Purchase: When does it make sense?

Didn't want to be a market timer, but yes this has basically been in the back of my mind ... recently went on a walk and pointed out all the homes being remodeled to my significant other and said "Look at all these people trying to cash in before the next big drop". Lipstick on a pig, if you will. ...
by CMD1
Thu Jan 30, 2020 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: I want to downshift, then retire
Replies: 19
Views: 2699

Re: I want to downshift, then retire

You have $1.6M in cash/investments + $400k in home equity. Congrats! My guess is your estimate for SS is VERY low, look into it. If your getting $40k/yr in SS down the road that may positively impact your assessment.
by CMD1
Thu Jan 30, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase: When does it make sense?
Replies: 34
Views: 2004

Re: Home Purchase: When does it make sense?

Maybe look at how the medium price has changed to get a sense, hard to base on one or two homes. That said, you would know if your in a market that historically goes wild. If your not, then the payment variance is more critical (ie would you buy this as an investment for cash flow). I'd imagine ther...
by CMD1
Thu Jan 30, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase: When does it make sense?
Replies: 34
Views: 2004

Re: Home Purchase: When does it make sense?

We are in a VHCOL area and trying to figure out the home purchase thing too. Wish I could find a fixer for $300k. Sounds like the math is the most important to you, so how will the mortgage payment compare to your current rent? Do rents historically go up a lot in your area? How about home price app...
by CMD1
Wed Jan 29, 2020 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9746

Re: Daughter's Boston Job Offer

I'd rather a new grad be in a HCOL big city than a smaller market. Starting wage will be much less relevant in a few years than it would be in a smaller market, career growth and opportunities will far outpace smaller markets. I wish I had taken this route.
by CMD1
Tue Jan 28, 2020 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 66016

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I've started to rethink this myself. We have been pretty modest earners but recently went back to a 2 person income and live in a VHCOL area and finally bumped out of the 12% bracket, well into the 22% and switched away from ROTH. The case for ROTH seems to be strongest when you consider tax rates ...
by CMD1
Tue Jan 28, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 66016

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I've started to rethink this myself. We have been pretty modest earners but recently went back to a 2 person income and live in a VHCOL area and finally bumped out of the 12% bracket, well into the 22% and switched away from ROTH. The case for ROTH seems to be strongest when you consider tax rates w...
by CMD1
Thu Jan 23, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 41
Views: 2976

Re: How much house can we afford?

Around here $700k is barely above a starter home these days.
by CMD1
Tue Jan 14, 2020 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 433
Views: 94461

Re: What age did you reach 100K networth?

I doubt that. Not many, but I've seen posts from people who never made six figures. At 41 (a year ago) our retirement accounts were nearly the same as yours. Things look brighter now, despite moving to a HCOL area, higher pay allows us to save more and still get by, but there were some lean years wi...
by CMD1
Wed Jan 08, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 20836

Re: Living in a HCOL and making a middle class salary is a struggle

We make ~25% less than the OP and live in a HCOL west coast market. Not sure if they are an option where the OP lives, but we are considering houses with an ADU/rental unit. The numbers pencil much better on a much nicer place this way if you don't mind being a landlord and having someone else live ...
by CMD1
Mon Dec 30, 2019 2:00 pm
Forum: Personal Consumer Issues
Topic: Has anyone done Whole 30? [Diet]
Replies: 141
Views: 5926

Re: Has anyone done Whole 30? [Diet]

Anyone listen to Dr. Joe Esposito, he is a chiropractor and nutrition expert out of Atlanta with a radio show with online podcast. Interesting and good info. Also has a line of vegan supplements, but he goes into the details behind specific symptoms, not just diet. As always do your own research and...
by CMD1
Fri Dec 27, 2019 12:06 am
Forum: Personal Investments
Topic: Former Employer 401k @ Fidelity - options?
Replies: 6
Views: 411

Re: Former Employer 401k @ Fidelity - options?

I have 2 Fidelity 401k's from prior jobs, have kept as is. Partly for protection and secondly because the plans are excellent with low fees. May reconsider at some point.
by CMD1
Mon Dec 23, 2019 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone start saving late and still retire early?
Replies: 61
Views: 5840

Re: Anyone start saving late and still retire early?

Completely realistic. Of course it comes down in large part to your expenses as others have mentioned. I've saved since my early 20's but now in my early 40's its clear I made such little money through my 20's and most of my 30's that it wasn't significant compared to my current salary (still not hi...
by CMD1
Thu Dec 19, 2019 1:17 pm
Forum: Personal Investments
Topic: Change from Regular 401K To Roth 401K question
Replies: 13
Views: 494

Re: Change from Regular 401K To Roth 401K question

I don't think it is what you intend, but if you switch completely away from 401k to Roth 401k, you would no longer receive an employer match. Matching only happens on pre-tax accounts. This has not been true in any 401k plan I have had - the match still applies but your employer matches with tradit...
by CMD1
Fri Dec 13, 2019 4:28 pm
Forum: Investing - Theory, News & General
Topic: Too poor to invest - living in the 12% bracket
Replies: 114
Views: 12133

Re: Too poor to invest - living in the 12% bracket

YES!! Spouse was home with the kids and pretty much we were that bracket until the last two years. Always tried to save 10%-15% and pick up the 401k match, even when making $23k in my twenties. Was in the $50k's for a while with two kids at home and still managed to save 15%+match. There wasn't much...
by CMD1
Mon Dec 02, 2019 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: How not to feel poor...
Replies: 78
Views: 13094

Re: How not to feel poor...

Congrats, looks like your going to be fine. With wife working you have the income you need and can reinvest $40k a year in dividends. At some point sounds like SS will replace her income AND whatever you do and earn will be a bonus to get further ahead and take those trips. Go on a least one trip as...
by CMD1
Thu Nov 28, 2019 2:58 am
Forum: Personal Investments
Topic: Good books for rental properties?
Replies: 16
Views: 967

Re: Good books for rental properties?

Landlording by Leigh Robinson. A really good book on actually running your landlord business, how to do everything. I think the advice to just jump in is dangerous, having the right advice and doing it right will save you lots of headaches and dollars. Also Mrlandlord.com has a good forum if your se...
by CMD1
Wed Nov 27, 2019 3:26 pm
Forum: Personal Consumer Issues
Topic: I wish I could ignore it...but I can't (ZILLOW!)
Replies: 68
Views: 9905

Re: I wish I could ignore it...but I can't (ZILLOW!)

What do you think caused the change - I know you mentioned a change at Zillow. But was there any new listings in the area, I notice often when someone lists, the estimate changes to nearly match the list price. Do you live in an area with a number of sales and listings or very few? What do recent co...
by CMD1
Wed Nov 20, 2019 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: How much Mortgage can I afford?
Replies: 42
Views: 4595

Re: How much Mortgage can I afford?

Around here $4,000 a month will get you a bit more than $550k mortgage, more in the range of $650-700k...and $550k will barely get you a 2 bedroom starter, but you don't mention what state you are in and therefore how much of that 4,000 would be property taxes (can vary widely).
by CMD1
Mon Nov 18, 2019 2:49 pm
Forum: Personal Consumer Issues
Topic: Exposure to Cigarette Smoke in Portugal Restaurants/Bars
Replies: 9
Views: 1996

Re: Exposure to Cigarette Smoke in Portugal Restaurants/Bars

We were in Portugal this summer and can't remember any smoking inside restaurants. Like much of Europe there is a bit more smoking in general, but nothing like we experienced in Paris. BTW, Portugal is amazing and those restaurant bills will be very friendly on the wallet. Cheapest restaurant bottle...
by CMD1
Tue Nov 12, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1989

Re: Should I do a cash out refinance?

I'm not a fan of taking on additional years via refinance, but my goal with our 1 rental is to pay it off, not maximize leverage. Perhaps yours is different. That said, if you need funds to maintain your property then either refi or a Heloc. Can you do the repairs over a couple years and mostly fund...
by CMD1
Mon Nov 11, 2019 3:58 pm
Forum: Personal Consumer Issues
Topic: My married son's employer health insurance - HDHP
Replies: 8
Views: 773

Re: My married son's employer health insurance - HDHP

I don't know that any health plans exclude pregnancy. In fact, I'd bet it's not allowed to exclude it. So then, you'd just be liable for the plan deductible/co insurance. Are you suggesting you want him to switch to a non high ded plan?
by CMD1
Fri Nov 01, 2019 12:11 pm
Forum: Personal Consumer Issues
Topic: Costa Rica
Replies: 14
Views: 1953

Re: Costa Rica

In Guanacaste I really like Playa Grande, although it's been a few years. Can see the enormous leatherback turtles there too. Can't go wrong with most of that pacific northwest coast. As mentioned you can also go to the volcano Arenal either as a day trip or for a couple days, easy drive. Lake Arena...