Search found 181 matches

by Regattamom
Wed Jun 05, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Yet Another Housing Thread (Gut Check)
Replies: 28
Views: 2108

Re: Yet Another Housing Thread (Gut Check)

I completely agree. I've never seen a situation where this works out. It's kind of a bad deal for the girlfriend/boyfriend too. They are contributing to the household, but not really getting anything out of it. My husband and I bought our first house together before we were married (20 + years ago)...
by Regattamom
Wed Jun 05, 2019 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Yet Another Housing Thread (Gut Check)
Replies: 28
Views: 2108

Re: Yet Another Housing Thread (Gut Check)

Don't buy a house together (meaning both on the mortgage) with a girlfriend- no exception. If you want to buy a house on your income, you sign the mortgage and then have a girlfriend roommate? Ok, but if you break up you own a house. I completely agree. I've never seen a situation where this works ...
by Regattamom
Wed Jun 05, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Yet Another Housing Thread (Gut Check)
Replies: 28
Views: 2108

Re: Yet Another Housing Thread (Gut Check)

Don't buy a house together (meaning both on the mortgage) with a girlfriend- no exception. If you want to buy a house on your income, you sign the mortgage and then have a girlfriend roommate? Ok, but if you break up you own a house. I completely agree. I've never seen a situation where this works ...
by Regattamom
Sun Jun 02, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 350
Views: 33577

Re: For those who earn $500k+ per year. How'd you do that?

I’m a Physician sub-specialist making 800K. My wife makes 900k as a generalist who owns multiple practices and employs doctors. Masonstone, In March when you were asking about buying a home with parents, you had this to say about your income: "1.3 million/year with potential growth to 1.5 million/y...
by Regattamom
Wed May 29, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14546

Re: Can we afford to pay for our kid's college (at all)?

Right now not putting $s in taxable. Want to have the Heloc paid off by end of the year. Mortgage is a refi. Hope to maybe downsize once kids are out of house. Would be good to get out from under our dream house, but would have to move to nearby town with worse schools. Job situation is real good w...
by Regattamom
Wed May 29, 2019 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14546

Re: Can we afford to pay for our kid's college (at all)?

Let me be clear, I think my parents are insane for these choices and I'm fully prepared to give them my last dollar if they need it at some point in their lives. I don't necessarily think parents are obligated to make sacrifices to that extreme. But you don't get to drive a Porsche and live in a ma...
by Regattamom
Wed May 29, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14546

Re: Can we afford to pay for our kid's college (at all)?

So many things wrong. You justify international travel by using CC rewards. I also use CC rewards, airline miles, etc. But an international trip for family is still going to be very expensive. Son didn't good grades in high school but you are encouraged that he wants to be an astrophysicist? You too...
by Regattamom
Tue May 28, 2019 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14546

Re: Can we afford to pay for our kid's college (at all)?

For some reason, this post has really affected me. I totally understand that many people can't afford or don't want to pay for their kids college. And I believe that parents must make sure their retirement is on track before shelling out big bucks for their kid's college. And I recognize that many a...
by Regattamom
Tue May 28, 2019 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14546

Re: Can we afford to pay for our kid's college (at all)?

Lots of good advice from the BH community. What I hope for your son (and your daughter) is that you have made him aware of your lack of college savings before now. It seems from your posts that you live in a nice neighborhood, "dream house" with good schools and you travel for leisure. There may be ...
by Regattamom
Sat May 25, 2019 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Life happens, now what?
Replies: 19
Views: 4456

Re: Life happens, now what?

Hello. It's hard to give you advice when your future plans are so vague. You plan to travel for 2-5 years and then maybe settle down? What are your expenses while traveling? Will your pension cover those expenses? When does pension kick in? Do you want to save for college for the three kids? More de...
by Regattamom
Thu May 23, 2019 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 17904

Re: Very High Net Worth, elite private or “good” public

Public or private is a decision all parents need to make is best for their kid, but in either choice the quoted above is how a kid becomes successful. No school in the U.S.(except few) will do all the teaching the kids need to fulfill the potential. Challenging the child beyond what is expected at ...
by Regattamom
Thu May 23, 2019 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3450

Re: Payable On Death Account as Will Substitute

If he owns a home he needs a will. Typically a deed has no beneficiary/POD option beyond a home purchased in husband and wife's name automatically going to surviving spouse, protected from probate (in some states, forget the legal term). Many states allow Transfer on Death Deeds for real estate. ht...
by Regattamom
Thu May 23, 2019 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 88
Views: 17628

Re: Anyone want to share their monthly budget? Here's ours

Primary Mortgage $2,752 Primary Property Tax $640 Primary Hazard Insurance $115 Primary Electricity and Gas $151 Primary Water, Sewage and Trash $157 Primary HOA $22 Car Payment $1,140 Auto Insurance $111 Auto Registration $34 Auto Repair $149 Auto Gas $272 Grocery $759 Eating Out - Restaurants and...
by Regattamom
Tue May 21, 2019 3:24 pm
Forum: Personal Consumer Issues
Topic: Relocate to Charleston SC?
Replies: 57
Views: 5768

Re: Relocate to Charleston SC?

Why move across country? I would stay on the west coast. You can find cheaper places to live than SoCal in many small cities and towns on the west coast. I live in the PNW in a smallish city that's on the water. We have sailing, hiking, kayaking, rowing all right here. And snow skiing is 1.5 hours a...
by Regattamom
Thu May 16, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where do I stand
Replies: 7
Views: 1160

Re: Where do I stand?

I find it so hard to judge where I stand relative to my peers (other bogleheads who are passionate about personal finance) in terms of general wealth accumulation. Ukfan41094: I think it is a big mistake to compare yourself with others. I had a good friend who taught Silva Mind Control. He told me ...
by Regattamom
Thu May 16, 2019 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 77
Views: 3421

Re: Logistics of splitting tuition costs with child

My advice is to forget about college costs for now. Instead: 1. Max retirement savings 2. Live below your means 3. Invest extra money 4. Teach children the value of a dollar 5. Teach children how to budget 6. Don't make promises regarding fancy colleges or how much you will spend 7. Stay employed By...
by Regattamom
Thu May 16, 2019 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Beneficiary is a Minor - Question
Replies: 2
Views: 179

Re: Life Insurance Beneficiary is a Minor - Question

You could. H could have his estate as the contingent beneficiary, and leave his estate (if W doesn't survive him) to his children in trusts having the desired provisions. Or, better yet (to protect against H's potential creditors since life insurance passing to a beneficiary, even a trust under the...
by Regattamom
Thu May 16, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Beneficiary is a Minor - Question
Replies: 2
Views: 179

Life Insurance Beneficiary is a Minor - Question

About us: Husband & wife 2 children - one is a minor and one is an adult Husband has large life insurance policy with wife as beneficiary and children split equally as secondary beneficiaries Oldest child has graduated college, has a job and has shown they can manage money. Younger child is a teenag...
by Regattamom
Wed May 15, 2019 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help decide: 403b loan or withdraw for duplex downpayment
Replies: 7
Views: 305

Re: Help decide: 403b loan or withdraw for duplex downpayment

Are you confident you can afford this opportunity? Your savings are low. What happens if you have an unexpected repair? Or tenant doesn't pay for months?
by Regattamom
Wed May 15, 2019 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: STATE TAXES: Predictor of Wealth Accumulation?
Replies: 21
Views: 2210

Re: STATE TAXES: Predictor of Wealth Accumulation?

Yes, I think that makes sense. I just wanted to know if geographic arbitrage (to a lower tax, lower cost of living state) is a smart wealth accumulation strategy when you are younger (30s/40s) rather than later. The fact that no prediction exists make sense. My take home is basically, as you said, ...
by Regattamom
Wed May 15, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Adult kids auto insurance
Replies: 9
Views: 994

Re: Adult kids auto insurance

When my oldest landed first job out of college a few years ago, we had a timeline of about six months to hand over everything to them. They signed up for healthcare with employer. Put cell phone in their name. Put car in their name. Had them get their own auto insurance. And finally...Got them off o...
by Regattamom
Sun May 12, 2019 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 7345

Re: When did you realize it wasn't enough?

We are on target, but if something happens (which is always a possibility) we would:

1. Not panic
2. Work Longer
3. Cutback
4. seems the same as number 3 to me
5. I would go back to work
6. not start a business
by Regattamom
Sun May 12, 2019 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can we really afford $1.25M house?
Replies: 44
Views: 5710

Re: Can we really afford $1.25M house?

We have 3 and we feed them natural food and they get walked by a dog walker once a week lol. Toys, bones, vets. Not that hard when you add it all up. We love them though, they are well worth it. No, it actually would be hard for most people. That's more than most people spend on their kids' food, t...
by Regattamom
Sun May 12, 2019 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Can we really afford $1.25M house?
Replies: 44
Views: 5710

Re: Can we really afford $1.25M house?

What does your monthly budget look like now based on your annual salary of $250k? How much is left over at the end of the month? And are you maxing your retirement savings?
by Regattamom
Sun May 12, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Can we really afford $1.25M house?
Replies: 44
Views: 5710

Re: Can we really afford $1.25M house?

I wouldn't do it, yet. You are counting on your bonus to be there every year and it may not be. I would use your bonuses to save up for a much larger down payment and possibly pay off the car loan (depending on interest rate) and definitely pay off student loans first. My husband also receives large...
by Regattamom
Wed May 08, 2019 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: College Expenses
Replies: 232
Views: 11543

Re: College Expenses

I believe this thread is being discussed mainly by men (Tomato, Klang, Vulcan, Stoptothink) and I am curious if your partners agree with you on which college your children should attend and on the amount of acceptable expenses incurred.
by Regattamom
Tue May 07, 2019 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: House selling - modern norms
Replies: 36
Views: 5259

Re: House selling - modern norms

Declutter! There is nothing worse than not seeing the house because of all the clutter. Box up all personal items and things that are not needed. Clean! and clean again. Make sure it doesn't have an odor! Especially fried food, cigarettes or pet odor. And don't try to hide odors with air fresheners....
by Regattamom
Thu May 02, 2019 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Recast - How to calculate and when is it worth it?
Replies: 9
Views: 993

Re: Recast - How to calculate and when is it worth it?

I was JUST running an amortization schedule trying to figure out the same thing. Here's the calculator I use: http://mortgage-x.com/calculators/extra_payment_calculator.asp I like it because it lets you play around with extra one-time payments and also monthly additional payments. $500 seems high fo...
by Regattamom
Sun Apr 28, 2019 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 8388

Re: What are the cons of always being a one parent working household?

But if people with jobs and commutes and no help can do pretty much the same things, isn't it a little exaggerated to spend 6h/day every day on it? I am a firm believer in the concept that work expands to the time allotted to it. That's a very good way to put it Why does anyone care what a stay at ...
by Regattamom
Sun Apr 28, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 8388

Re: What are the cons of always being a one parent working household?

You asked the question of what a SAHP does while the kids are at school and I was responding to that question. Nothing more. But if people with jobs and commutes and no help can do pretty much the same things, isn't it a little exaggerated to spend 6h/day every day on it? I am a firm believer in th...
by Regattamom
Sun Apr 28, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 8388

Re: What are the cons of always being a one parent working household?

A stay at home parent goes grocery shopping, does laundry, cleans the house, repairs the house, cleans cars, review calendars and schedules, and the like while the kids are at school. And a working parent does all that plus earns a living :wink: The stay at home parent does these things so that the...
by Regattamom
Sun Apr 28, 2019 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 8388

Re: What are the cons of always being a one parent working household?

I see that people are confused about what stay at home parents do all day. I am the mom that takes other parent's kids to after school activities because their parents aren't able to get off work to take them. I am the mom that helps at school during the day with other parent's kids reading and math...
by Regattamom
Sun Apr 28, 2019 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: The wisdom of prepaying notes (car, home, etc.)
Replies: 38
Views: 2734

Re: The wisdom of prepaying notes (car, home, etc.)

And I can get more than 3.5% and 5.5% in the market , so even if I ultimately pay more in interest, I would have made that and then some had I invested the surplus. Am I missing something here? I'm drawn to the idea of having a paid off car, but is that gut desire blinding me to a more financially ...
by Regattamom
Sun Apr 28, 2019 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Staying the course with our plan
Replies: 19
Views: 2371

Re: Staying the course with our plan

Well done! Congratulations! And thanks for the update. I love seeing these types of posts.
by Regattamom
Thu Apr 25, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle courses
Replies: 33
Views: 2934

Re: Side Hustle courses

Why not just find a new job?
by Regattamom
Mon Apr 22, 2019 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: First time buyer
Replies: 7
Views: 670

Re: First time buyer

My oldest is planning to purchase a home soon, too. My advice regarding a realtor is to narrow down the neighborhood/area where they plan to purchase and see who is listing the most homes for sale in that area. I would ask that person to be my agent because they know the area well and may also have ...
by Regattamom
Mon Apr 22, 2019 10:58 pm
Forum: Personal Consumer Issues
Topic: Negotiating new boat price
Replies: 13
Views: 1460

Re: Negotiating new boat price

What did you end up doing? The last boat we bought was also one where there was only one available at a nearby dealer. I asked the dealer for his best price and he immediately came down some off his sticker price. I could have asked for more, but I thought it was a decent deal especially when consid...
by Regattamom
Mon Apr 22, 2019 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: At a crossroads on how much to put down towards new home
Replies: 32
Views: 2308

Re: At a crossroads on how much to put down towards new home

I might wait on this whole thing. Does your wife really want to do a big move in the 3rd trimester of pregnancy? Babies don't take up a lot of space. I mean, their stuff does but you can fit in a 2/2 for a while. I beg to differ. Now is the time to move. Pack, rest and pack again. With twins/newbor...
by Regattamom
Mon Apr 22, 2019 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house without a realtor
Replies: 49
Views: 4554

Re: Buying a house without a realtor

I don't know about other states, but where I live the listing agent is the one who has negotiated the commission with the seller which is usually 5 - 6 percent. And then the listing agent splits the commission with a buyer's agent. The listing agent does not have to reduce the commission if you do n...
by Regattamom
Mon Apr 22, 2019 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: How to Get Customers for New, Small Catering Business
Replies: 10
Views: 608

Re: How to Get Customers for New, Small Catering Business

Good luck to your friend. I did some catering and chocolatiering about 10 years and never again. It started by word of mouth with people asking me to cater events after they had tried my food and chocolates. What I discovered is that most people generally don't want to pay what it's worth. Catering ...
by Regattamom
Mon Apr 22, 2019 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Housing: "Super Savers" vs. the "Rest"...
Replies: 85
Views: 9553

Re: Housing: "Super Savers" vs. the "Rest"...

Thank you for posting this. We aren't empty nesters yet, but almost. We think about downsizing sometimes (although we don't live in a Mcmansion) but if we sold our house and bought a smaller home in the same area, the price per square foot would be much higher than what we bought in at 15 years ago....
by Regattamom
Mon Apr 22, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Delayed gratification.
Replies: 55
Views: 6114

Re: Delayed gratification.

Delay - If you still feel like you really want to purchase X after several months, then maybe you can move forward. Compromise - Instead of buying the newest/top of the line version of X, look at used models and lower end versions. Research - This is the part I really enjoy. We set a budget and I s...
by Regattamom
Mon Apr 22, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Affordability Question
Replies: 19
Views: 1525

Re: First Time Home Buyer Affordability Question

Yes, you can afford it. You may want to build up your emergency fund a little more though before purchasing. Edit to add: FWIW, if you are planning to go thru with this in the next couple months it is the worst time to be househunting (trying to negotiate a good price) Spring is the time when all th...
by Regattamom
Tue Apr 16, 2019 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Household budget, savings, retirement, and Home Equity question
Replies: 23
Views: 2314

Re: Household budget, savings, retirement, and Home Equity question

1. Refinancing - I am leaning towards a 20 year loan ... Is this a good idea? In my opinion, no. You should lean towards a 30 year loan. Rates aren't significantly different and you need the cash now. Nothing prevents you from paying it at a 15 (or even 10) year rate when more cash is available, bu...
by Regattamom
Tue Apr 16, 2019 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Job Offer Evaluation - FANG
Replies: 101
Views: 10395

Re: Job Offer Evaluation - FANG

Most people seem to be excited about the money and I get that it's a lot more. But you get 30 days PTO a year with your current job! That's huge! Along with the maternity leave (especially if you are thinking about having kids) and a pension. It sounds like your current employer is attempting to he...
by Regattamom
Tue Apr 16, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Job Offer Evaluation - FANG
Replies: 101
Views: 10395

Re: Job Offer Evaluation - FANG

Most people seem to be excited about the money and I get that it's a lot more. But you get 30 days PTO a year with your current job! That's huge! Along with the maternity leave (especially if you are thinking about having kids) and a pension. It sounds like your current employer is attempting to hel...
by Regattamom
Mon Apr 15, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Determining Cost of Living
Replies: 21
Views: 785

Re: Determining Cost of Living

The calculators above allow you to compare one city to another, which is helpful. But I found this list of cities ranked by their cost of living index, which I really like. https://www.numbeo.com/cost-of-living/region_rankings.jsp?title=2018®ion=021 This would put me in a HCOL. But like any city,...
by Regattamom
Mon Apr 15, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Determining Cost of Living
Replies: 21
Views: 785

Re: Determining Cost of Living

Hi there, I see a lot of posts with references to VHCOL, HCOL, LCOL, etc. Is there a reference that most people are using to determine the cost of living? Or is this mostly self determined? The reason I ask is because it seems that a lot of people say they are in a VHCOL or HCOL. And I wonder if it...
by Regattamom
Mon Apr 15, 2019 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Determining Cost of Living
Replies: 21
Views: 785

Re: Determining Cost of Living

RollTide31457 wrote:
Mon Apr 15, 2019 12:06 pm
Usually target non-urban areas with real estate in the $100 per sq ft or so range. These also are usually high quality of life areas in terms of family values.
Family values are subjective.
by Regattamom
Mon Apr 15, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Determining Cost of Living
Replies: 21
Views: 785

Re: Determining Cost of Living

OP, I live in a $200 per square feet housing area. Folks can use this number to decide where it falls in term VHCOL, HCOL, and so on. I think that is a better and more accurate description of COL than anything else. KlangFool But could you choose to live a less expensive per square foot home in the...