Search found 52 matches

by jcoll1
Mon Jun 01, 2020 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal
Replies: 80
Views: 8407

Re: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal

Yes I'm worried about taxes, insurance and HOA all going up up up and who knows about value if we buy high, which it is booming now. Your finances are rock solid! 100k guaranteed income. $2M (2.3?M) net worth above and beyond those significant pension assets. You live frugally. You'll buy making go...
by jcoll1
Mon Jun 01, 2020 10:38 am
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 174
Views: 14432

Re: If Jeep has such poor reliability, how come they are everywhere?

I would look at the Toyota 4Runner. I second that. I will admit I favor Toyota products. It's something I learned from working on vehicles for over 20 years. Out of 22 Midsize SUV's, the Toyota 4Runner is ranked 21... https://www.caranddriver.com/features/g8525152/best-midsize-suv/?slide=3 This bod...
by jcoll1
Mon Jun 01, 2020 10:26 am
Forum: Personal Consumer Issues
Topic: Selling a house - should it be staged or left empty?
Replies: 48
Views: 4300

Re: Selling a house - should it be staged or left empty?

I think the best tactic for most is declutter and "stage" with the furniture you already have. That being said, when we sold our house, feedback and interest seemed to improve quite a bit AFTER we moved out and left the house empty while number of showings stayed consistent. I did briefly...
by jcoll1
Tue May 26, 2020 9:44 am
Forum: Personal Consumer Issues
Topic: If Jeep has such poor reliability, how come they are everywhere?
Replies: 174
Views: 14432

Re: If Jeep has such poor reliability, how come they are everywhere?

tvubpwcisla wrote: Sun May 24, 2020 8:10 am I would look at the Toyota 4Runner.
I second that. I will admit I favor Toyota products. It's something I learned from working on vehicles for over 20 years.
by jcoll1
Thu May 21, 2020 7:39 pm
Forum: Personal Investments
Topic: Portfolio review: Thinking about early retirement?
Replies: 18
Views: 1688

Re: Portfolio review: Thinking about early retirement?

"of which around $40K is non-discretionary." This seems to be the key. If this is your required base then financially it is quite possible. If you're willing to adjust lifestyle as needed to fit within what your funds provide then it's not just a dream. However that decision is not to be ...
by jcoll1
Mon Mar 23, 2020 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Housing Market Response in this environment?
Replies: 57
Views: 7662

Re: Housing Market Response in this environment?

I don’t think it’s been priced in. I read and heard from real estate agent friends in LA and Boston that it’s really busy in that lots of people are looking (pre-approved, low interest rates, and tight inventories) but also nervous (not lots of offers being made and some showings cancelled with the...
by jcoll1
Thu Mar 19, 2020 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: How accurate are bank appraisals?
Replies: 17
Views: 1308

Re: How accurate are bank appraisals?

My history of bank appraisals has been that they have always been low. Perhaps that is because my houses have usually had some unusual (call that "expensive") upgrades or design features. Banks are happiest appraising a house that looks and behaves like all its neighbors. This has been my...
by jcoll1
Thu Mar 19, 2020 3:02 pm
Forum: Personal Investments
Topic: Time to sell Equities and Buy CD's?
Replies: 12
Views: 1195

Re: Time to sell Equities and Buy CD's?

Very good outlook on the situation. I too look at the shares owned more than the current price per share. Price per share is obviously important but my belief is things will turn around. Most believe the market was overvalued and we finally are in correction. No one can predict accurately how far t...
by jcoll1
Thu Mar 19, 2020 3:00 pm
Forum: Personal Investments
Topic: Time to sell Equities and Buy CD's?
Replies: 12
Views: 1195

Re: Time to sell Equities and Buy CD's?

Very good outlook on the situation. I too look at the shares owned more than the current price per share. Price per share is obviously important but my belief is things will turn around. Most believe the market was overvalued and we finally are in correction. No one can predict accurately how far th...
by jcoll1
Tue Mar 17, 2020 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Question
Replies: 24
Views: 3667

Re: Retirement Question

At your age I would continue working the 3 years. When you retire you'll be in better shape than you currently are, which is quite good. 3 years will go by fairly quickly and at the end of that time you'll have more income to use for whatever you want to. If you have plans for your years in retireme...
by jcoll1
Sun Mar 15, 2020 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Recent Early Retirees How are You Coping?
Replies: 29
Views: 4067

Re: Recent Early Retirees How are You Coping?

We retired Jan 2 2020 both at aprox 65yr old. Had a asset allocation set to be able to live off the bond yields, letting the stocks do what they may. Plan was approx 60/40 stocks. Allocation is doing exactly what it was suppose to do. Now I'll just stick with the plan (like we really have a choice?...
by jcoll1
Thu Mar 12, 2020 8:41 pm
Forum: Personal Consumer Issues
Topic: Battery powered lawn mower recommendation
Replies: 71
Views: 2631

Re: Battery powered lawn mower recommendation

I'm still skeptical of the cost benefit of battery lawnmowers My sense is they are likely to be underpowered especially for wet grass, or thick grass if you don't get to mowing when you need to, or if you wanted to mulch leaves etc. And even if they do have enough power I question the cost benefit ...
by jcoll1
Thu Mar 12, 2020 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: How much maintenence expense to ditch an older car?
Replies: 22
Views: 1250

Re: How much maintenence expense to ditch an older car?

At what point do I give up on the car? I estimate that the car is probably worth just a few thousand dollars. But it runs very well., For me, it has nothing to do with car value. It has everything to do with what the repair costs and the expectation of how many years you will get out of the vehicle...
by jcoll1
Thu Mar 12, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: How much maintenence expense to ditch an older car?
Replies: 22
Views: 1250

Re: How much maintenence expense to ditch an older car?

My "rule of thumb" for my 19 year old vehicle is that if the repair expenses are more than one year of car payments, I will get a new vehicle. Over the years, my expenses have not met that criteria, some years there are no expenses other than an oil change, one year I needed a new AC comp...
by jcoll1
Thu Mar 12, 2020 11:22 am
Forum: Personal Investments
Topic: Who is staying course and how are you dealing with net worth going down?
Replies: 359
Views: 27172

Re: Who is staying course and how are you dealing with net worth going down?

atdharris wrote: Thu Mar 12, 2020 10:29 am My biggest concern will be my job, not my stock portfolio. I am in an industry that, hopefully, is not affected by the virus. My investments will come back.
I think l'd be concerned if the jobless rate started going up rapidly but as of now I'm in the buying mood.
by jcoll1
Thu Mar 12, 2020 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Anyone thinking there will be a run on the banks?
Replies: 23
Views: 1731

Re: Anyone thinking there will be a run on the banks?

watchnerd wrote: Thu Mar 12, 2020 10:36 am No.

This is silly.
Agreed
by jcoll1
Thu Mar 12, 2020 11:08 am
Forum: Personal Consumer Issues
Topic: Battery powered lawn mower recommendation
Replies: 71
Views: 2631

Re: Battery powered lawn mower recommendation

I'm still skeptical of the cost benefit of battery lawnmowers My sense is they are likely to be underpowered especially for wet grass, or thick grass if you don't get to mowing when you need to, or if you wanted to mulch leaves etc. And even if they do have enough power I question the cost benefit ...
by jcoll1
Wed Mar 11, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Staying under 400% FPL for FIRE
Replies: 47
Views: 3313

Re: Staying under 400% FPL for FIRE

You want to stay below 400% for ACA premium subsidy, correct? Contributing to Roth will not help with that, because it does not reduce your MAGI. You would need to contribute to a pre-tax 401k, traditional IRA, or HSA. Don't forget to consider taxable interest and dividends from your emergency fund...
by jcoll1
Wed Mar 11, 2020 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Parent has ALS; Need Financial & General Advice
Replies: 68
Views: 2964

Re: Parent has ALS; Need Financial & General Advice

This is a rough scenario. I’m sorry to hear this. It sounds similar to what I have experienced with my mom over the last two years. I vote to protect assets such that as little as possible goes to the “medical industrial complex” and stays in the family. Discuss with mom her estate plan and meet a ...
by jcoll1
Wed Mar 11, 2020 4:51 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance: Whole, Term, None?
Replies: 27
Views: 1272

Re: Life Insurance: Whole, Term, None?

I agree with everything written by others in this thread, however, the biggest danger (IMO) is the lack of enough disability insurance. The cost of caring for you or your wife if you become (essentially) helpless is astronomical. That's the insurance you should be attempting to maximize. Statistica...
by jcoll1
Wed Mar 11, 2020 4:17 am
Forum: Investing - Theory, News & General
Topic: Who here is buying stocks today and how much?
Replies: 311
Views: 29143

Re: Who here is buying stocks today and how much?

runner3081 wrote: Mon Mar 09, 2020 2:22 pm Had some cash sitting in a rollover IRA, invested 40% of that money today. 5-figures worth.
I'm in the same position. I'm going to wait but not much longer.
by jcoll1
Sat Mar 07, 2020 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

I guess I'm missing something... You have a hoard of cash that is called an "emergency fund" for which IRA contributions for 2019 (that could have been made anytime over the past 14+ months) is an appropriate use, but repairing a failed septic drain field that was just discovered and coul...
by jcoll1
Sat Mar 07, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

If you're a credit union member, they typically have "personal loans" that do not require collateral. Interest rates are probably higher than car loan rates, but if you're re-paying from sale proceeds in a couple of months, it might be worth it in terms of minimal paperwork and just a sma...
by jcoll1
Sat Mar 07, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

I don't understand why the project is"open ended." I had a new septic system installed a year or two ago and the only thing that could have been a problem was if they' found a giant boulder, the removal of which would have added extra expense and a week or so of extra time. I would get 2-...
by jcoll1
Sat Mar 07, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Installing solar - worth it?
Replies: 70
Views: 4319

Re: Installing solar - worth it?

Yes. There's no end to nor low end of triviality that neighbors and those in a community will find to grumble or litigate about. Like kittens that can't help getting into a ball of tangled yarn. j :happy I understand your point but honestly that glare was unbearable. The homeowners of the house tha...
by jcoll1
Sat Mar 07, 2020 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Installing solar - worth it?
Replies: 70
Views: 4319

Re: Installing solar - worth it?

Here's another consideration. Depending on where you live and the nature of the neighbors, solar panel system locations can be a problem, sometimes ending up in lawsuits between neighbors. 1. Location of panels reflects sunlight, sunset, etc, brightly into a neighbor's home. This is so hard to pred...
by jcoll1
Sat Mar 07, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

chevca wrote: Sat Mar 07, 2020 12:26 pm Don't know why, but this thread makes me think of the beer commercials... 'I don't always hold an emergency fund, but when I do.... it's not really for emergencies'. :happy
Now that's just funny! :mrgreen:
by jcoll1
Sat Mar 07, 2020 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue

No way would I cash in an emergency fund. :shock: That is asking for trouble. Home sales can and do fall through, and then where will you be? Moving is a time where having a wad of cash squirreled away is smart. This is exactly my thinking. I don't consider this a real emergency and I have options....
by jcoll1
Sat Mar 07, 2020 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

Unless I am completely missing something here, the answer is easy: 0% CC. With your credit score, you can apply today and have the card in your possession in 1-2 weeks. Many come with signing bonus and cash back. You actually make money on the deal and leave EF untouched. HELOC would be my second c...
by jcoll1
Sat Mar 07, 2020 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

You need something fixed quickly that you weren't prepared for, or didn't save for... I don't know what your definition of an emergency is, but.... Your EF will be built right back up after the house sells. You would just pay the loan off after the house sells. Why take a loan? Seem like you're try...
by jcoll1
Sat Mar 07, 2020 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

I am reading the thread that mortfree posted for me. It's a long one. I'm getting plenty of information from it about the situation. I don't want to deplete my emergency/cash funds because I've already earmarked 25% or that money to maximize my IRA contributions for 2019 with the intent of replenish...
by jcoll1
Sat Mar 07, 2020 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Should I sell my rental property?
Replies: 8
Views: 638

Re: Should I sell my rental property?

I have a very similar situation as yours. One rental property worth about 20% of my net worth with similar expenses and income and slightly lower home value. I have no plans of selling. I have the rental as an income source other than the stock market. I see it as a way to diversify where income is ...
by jcoll1
Sat Mar 07, 2020 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

For those that asked, I am working with the realtor on this. The process has just begun and we haven't received the buyers inspection contingency yet so we can't really make any decisions. My question had to do with possible loan options for me to make the repairs should that be the route taken. I d...
by jcoll1
Fri Mar 06, 2020 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Re: Finance options - selling house and have inspection issue.

Mortfree, I'm just getting started and seeking best options at this point assuming I'll be fixing it. Inspection contingency is due back from buyer on Wednesday at which time more options may be considered. Due to the fact that this project is somewhat open ended and an accurate estimate is near imp...
by jcoll1
Fri Mar 06, 2020 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Installing solar - worth it?
Replies: 70
Views: 4319

Re: Installing solar - worth it?

I live in S.E. Pennsylvania and installed roof mounted panels in 2011. At that time there were federal and state assistance funds to incentivize the project. Cost was $41,900 and out of pocket was $16,730. The original ROI spreadsheet had pay back at 4.5 years. All was going as planned after the sys...
by jcoll1
Fri Mar 06, 2020 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Finance options - selling house and have inspection issue.
Replies: 34
Views: 1940

Finance options - selling house and have inspection issue.

We're selling our primary residence and have a buyer and an agreement of sale. Currently the inspection process is being done. The property has failed the on-site sewer inspection. The drain field is saturated. Obviously it must be fixed. I would prefer to finance this for a short term and pay it of...
by jcoll1
Wed Mar 04, 2020 9:37 am
Forum: Personal Investments
Topic: Rate cut - so whats next for cash
Replies: 28
Views: 4672

Re: Rate cut - so whats next for cash

Not planning on doing anything with emergency fund cash based on rate cut. Other cash I currently have I'm sitting on and watching market as best as I possibly can. Not trying to "market time" but this cash is in an IRA based account and I'm a bit hesitant to make more purchases due to the...
by jcoll1
Sun Mar 24, 2019 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Do you treat inheritance as a singular or shared asset?
Replies: 113
Views: 6645

Re: Do you treat inheritance as a singular or shared asset?

This is definently not a one size fits all situation. Every couple will do it as they see fit. Since we've been married our finances have always been joint. The only things that we have separate are some IRAs. All other assets and liabilities are joint. A fairly decent inheritance did come and there...
by jcoll1
Thu Mar 21, 2019 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

According to the information from the Health Insurance marketplace for Pennsylvania I have a tax credit for $2431.00 per month and the premium for the plan is $2271.36 per month. The tax credit is higher than the premium? Something seems wrong! The subsidy is based on the second lowest cost silver ...
by jcoll1
Thu Mar 21, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

According to the information from the Health Insurance marketplace for Pennsylvania I have a tax credit for $2431.00 per month and the premium for the plan is $2271.36 per month. The tax credit is higher than the premium? Something seems wrong! The subsidy is based on the second lowest cost silver ...
by jcoll1
Thu Mar 21, 2019 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

According to the information from the Health Insurance marketplace for Pennsylvania I have a tax credit for $2431.00 per month and the premium for the plan is $2271.36 per month. The tax credit is higher than the premium? Something seems wrong! I agree but, that's what my account with the Marketpla...
by jcoll1
Thu Mar 21, 2019 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

Re: APTC (i.e., subsidy) versus Refund at Tax Time There’s nothing “wrong” with paying the full premium upfront and getting a portion of it back as a premium tax credit on your income taxes if doing so doesn’t leave you cash strapped. Just pay the premium with a cash-back credit card and the intere...
by jcoll1
Thu Mar 21, 2019 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

According to the information from the Health Insurance marketplace for Pennsylvania I have a tax credit for $2431.00 per month and the premium for the plan is $2271.36 per month. Are these numbers correct? For just you and your wife it's approximately $27,000/year? I don't have any experience in th...
by jcoll1
Thu Mar 21, 2019 11:27 am
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

The way I understand the process is if I keep my income (AGI) below 400% of the Federal Poverty Level the subsidies will lower my premium but I`ll be paying a partial amount based on my projected AGI. I also understand that it's my responsibility to report my income projection as it changes. I beli...
by jcoll1
Thu Mar 21, 2019 7:32 am
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

The way I understand the process is if I keep my income (AGI) below 400% of the Federal Poverty Level the subsidies will lower my premium but I`ll be paying a partial amount based on my projected AGI. I also understand that it's my responsibility to report my income projection as it changes. I beli...
by jcoll1
Tue Mar 19, 2019 4:58 am
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

I am not sure why reconciling this on your tax return is a problem. If you get the credit and owe, there is no penalty. Obviously, don't take the premium credit and go to a casino and have no money to repay the premium at the end. As long as your projection was accurate originally, I would just lea...
by jcoll1
Mon Mar 18, 2019 5:11 am
Forum: Personal Finance (Not Investing)
Topic: First Time Homebuyer | Recently Engaged
Replies: 72
Views: 5457

Re: First Time Homebuyer | Recently Engaged

FWIW we bought 2 years after we got married. We ended up being able to put down 30% in the middle of the range you’re looking at, do about $15k worth of work to the home, pretty much fully furnish—all but 1 room which will hopefully be a nursery, pay for all closing costs without a “buyers assist”,...
by jcoll1
Mon Mar 18, 2019 4:50 am
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

You can reduce your ACA-MAGI (which is what the subsidy is based on) through contributions to your employer sponsored retirement plan (401k, SIMPLE IRA, etc), tIRA contributions and HSA contributions (which are only allowed if you have qualified HSA insurance plan). You will want to do all that you...
by jcoll1
Mon Mar 18, 2019 4:43 am
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

Since submitting the application I am now employed and will need to change the income projection to the marketplace. OP ... does this current employment have health insurance available? (Presumably not since you are asking about coverage under the Affordable Care Act; but just want to be sure). No,...
by jcoll1
Sun Mar 17, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: 1st time on ACA
Replies: 35
Views: 3621

Re: 1st time on ACA

J295 wrote: Sun Mar 17, 2019 5:24 pm Does your employer provide you with an option to be part of an employer plan?

No. Just the required COBRA.