Search found 187 matches

by Bobby206
Mon Jan 27, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: 15yr vs 30yr mortgage
Replies: 33
Views: 2799

Re: 15yr vs 30yr mortgage

I'd take the 15. Force yourself to pay it off sooner.
by Bobby206
Sun Jan 26, 2020 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Tax implications & large cash gift for down payment?
Replies: 111
Views: 2694

Re: Tax implications & large cash gift for down payment?

...He is just well off and enjoys sharing that with his daughters and their families Sometimes fathers are concerned/jealous about losing their position about being "first" with their daughters and will do anything to maintain their position. and sometimes they are just generous. The glass is half ...
by Bobby206
Thu Jan 23, 2020 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8152

Re: $2 million at a young age

.... Do not talk about the money with anyone. If you do, people will look at you as a money tree ready to be picked. Don’t lend money. Don’t play the big shot. You want to be liked for yourself not your money. .... THIS ! You will want to but do not! Just keep your mouth shut and smile when the top...
by Bobby206
Thu Jan 23, 2020 12:20 pm
Forum: Personal Investments
Topic: Getting $2 Million in Cash! What do I do with it?
Replies: 75
Views: 5983

Re: Getting $2 Million in Cash! What do I do with it?

Hello! I'm so very excited to have finally found a forum on investing! I am in my upper 30's and am coordinating my parents estate. The estate value is in the mid-seven figures and is 85% liquid. The unique situation is that 66% of the total estate has just been given to my parents for the sale of ...
by Bobby206
Thu Jan 23, 2020 10:54 am
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8152

Re: $2 million at a young age

This will be counter to most of the experts here I am sure but I would hire a financial planner (fee only or whatever) to actually monitor your money. I say this because young people and people not used to wealth are more apt to invest aggressively and spend recklessly. The best thing you can do is ...
by Bobby206
Tue Jan 21, 2020 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: to pre-nup or not?
Replies: 133
Views: 11156

Re: to pre-nup or not?

Not sure of all the questions but get a pre nup. It's extremely common with marriages later in life. Should be easy and without much push back... but it will be hard to ask her. Do it though! Also don't co-mingle assets. As to the pre-nup don't shop on price. Find an attorney who is highly experienc...
by Bobby206
Tue Jan 21, 2020 11:38 am
Forum: Personal Consumer Issues
Topic: Car Accident - What Are My Next Steps?
Replies: 18
Views: 898

Re: Car Accident - What Are My Next Steps?

My friend's 911 was recently in mild rear-ender. I didn't get all the details but basically if not taken to a Porsche authorized body shop it would run afoul of some Porsche warranty stuff. As OP made it sound like higher end car just thought I would mention this as I hadn't heard of this type of re...
by Bobby206
Fri Jan 17, 2020 11:49 am
Forum: Personal Finance (Not Investing)
Topic: How to reduce spending -- suggestions?
Replies: 73
Views: 6226

Re: How to reduce spending -- suggestions?

Get to the mailbox first and throw out all those catalogs of "junk" that you don't need. Make sure all e-mails to your spouse's and your e-mail accounts block all the e-mails from such vendors, too. Who knew that you needed a set of artistic drink glasses? Or more Christmas decorations? Or a new ou...
by Bobby206
Sun Jan 12, 2020 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Offer for a house
Replies: 34
Views: 2038

Re: Offer for a house

My agent is a Redfin agent and they don’t ask you to sign any agreement. Even then I informed my agent about the house and offer but the seller’s agent wants to just communicate with me. And yes this seller’s agent appears a bit shady. This house is in the market for the past 6 months and now they ...
by Bobby206
Sun Jan 12, 2020 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire?
Replies: 120
Views: 10546

Re: Can we retire?

Yes but keep an eye on the spending. Don't let lifestyle creep happen because it's easy to do.
by Bobby206
Sun Jan 12, 2020 2:55 pm
Forum: Personal Consumer Issues
Topic: College Reunion Destination
Replies: 49
Views: 3132

Re: College Reunion Destination

I know it's old and played out to some but VEGAS never disappoints for guy's trips. Las Vegas Knight's hockey is the best live sporting event I have ever been to. Or in summer they have NBA summer league which is fun. If you go spring-summer-fall (basically any time but dead of winter) you have the ...
by Bobby206
Fri Jan 10, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Donating $1M
Replies: 66
Views: 8748

Re: Donating $1M

I would probably do like my parents always said to do with a big purchase. I'd sit on the idea for a year and see if I still thought it was a good idea. You can always give it, and more, away to charity when you die so update your will or better yet IRA beneficiary now. However, if you make a mistak...
by Bobby206
Fri Jan 10, 2020 1:13 pm
Forum: Investing - Theory, News & General
Topic: Net Worth ??
Replies: 129
Views: 11658

Re: Net Worth ??

I don't include the tax consequences in my net worth calculations since it's really just so I feel good.

However, in my retirement income forecast I do factor in anticipated tax.
by Bobby206
Wed Jan 08, 2020 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: [Estate planning] Simplicity: Inherit outright vs trusts for kids?
Replies: 28
Views: 2973

Re: [Estate planning] Simplicity: Inherit outright vs trusts for kids?

A continuing trust provides protections, when set up right, that can not be had in any other way. Continuing trust 100% except for small trusts (defined differently by different people). I would always want my kids to have creditor and divorce protection. The hassle is minimal, to non-existent, if t...
by Bobby206
Wed Jan 08, 2020 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Moving Costs
Replies: 24
Views: 961

Re: Moving Costs

$30k ish. Consider selling virtually everything. Move as little as possible yourself. Buy new stuff that you actually need in the new home. This is no joke. I have moved several times and its alot easier to just sell all your stuff , get the most you can and take the difference of the cost of the m...
by Bobby206
Mon Jan 06, 2020 4:06 pm
Forum: Personal Investments
Topic: Whats the best way to fire my adviser and move to Vanguard?
Replies: 21
Views: 1537

Re: Whats the best way to fire my adviser and move to Vanguard?

I think it's polite to tell your advisor. They are human after all. Just drop them an email if you don't want to deal with phone call.
by Bobby206
Sun Jan 05, 2020 11:41 am
Forum: Personal Investments
Topic: Fees for Estate Trustee - California
Replies: 8
Views: 356

Re: Fees for Estate Trustee - California

Important to distinguish between executor and trustee. Someone above mentions the statutory executory fee. That applies in a probate situation and is generally inapplicable to a trustee. In my experience 1/2 to 1% of the gross assets per year is common in a trustee situation. Another way of looking ...
by Bobby206
Fri Jan 03, 2020 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Medical school at 34 - Is this financial suicide?
Replies: 116
Views: 9677

Re: Medical school at 34 - Is this financial suicide?

I'd go for it. First of all not all decisions in life should be monetary based. Sure you should weigh the expected differences but it's just one factor. Second, who knows what the future holds. Your current job may get better or get worse. Being a doc may be great and may suck. We don't know. Third,...
by Bobby206
Fri Jan 03, 2020 8:19 pm
Forum: Personal Investments
Topic: Sister wants advice since I disagreed with her financial advisers.
Replies: 141
Views: 13122

Re: Sister wants advice since I disagreed with her financial advisers.

I would argue the counter that they should keep everything at Ed Jones. The accounts are so small that the 1.25% is nothing in real dollars and she likes the advice and comfort her advisor gives her. Not everybody is a DIYer. Some people like having their own advisor to reach out to. We on BH tend ...
by Bobby206
Wed Jan 01, 2020 8:10 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 445
Views: 111259

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

A lot of this discussion sounds very sad to me. Imagine the heads exploding when after all these sacrifices, you end up no better off than if you had occasionaly stopped to smell the roses. So many threads here about the super savers who cannot bear to spend money in retirement. Not what I ever wan...
by Bobby206
Wed Jan 01, 2020 7:05 pm
Forum: Personal Investments
Topic: Sister wants advice since I disagreed with her financial advisers.
Replies: 141
Views: 13122

Re: Sister wants advice since I disagreed with her financial advisers.

I would argue the counter that they should keep everything at Ed Jones. The accounts are so small that the 1.25% is nothing in real dollars and she likes the advice and comfort her advisor gives her. Not everybody is a DIYer. Some people like having their own advisor to reach out to. We on BH tend t...
by Bobby206
Wed Jan 01, 2020 1:06 pm
Forum: Personal Investments
Topic: Can I retire part time? Age 36
Replies: 28
Views: 4425

Re: Can I retire part time? Age 36

I would keep working full time. You are young and a lot can change after 36. Let life unfold.
by Bobby206
Thu Dec 26, 2019 12:04 pm
Forum: Investing - Theory, News & General
Topic: experiences with passive income/real estate?
Replies: 10
Views: 931

Re: experiences with passive income/real estate?

Been doing it for 7 years. 11% annual return....and none of my rentals are leveraged. It could be better if I used leverage. Annual appreciation in my area is 4%....But I have had flyers...bought a $89K condo that’s worth $135K...in 2 years. YMMV depending on geolocation. How passive has your real ...
by Bobby206
Wed Dec 25, 2019 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Goodbye USAA
Replies: 72
Views: 8763

Re: Goodbye USAA

stan1 wrote:
Wed Dec 25, 2019 8:28 pm
....

Only USAA (top tier) members get an annual dividend. That's another way to tell.
I am a CIC member and I get the dividend. Been member for about 35 years.

Going to check Geico because of this thread though. :)
by Bobby206
Wed Dec 25, 2019 9:28 pm
Forum: Investing - Theory, News & General
Topic: experiences with passive income/real estate?
Replies: 10
Views: 931

Re: experiences with passive income/real estate?

Been doing it for 7 years. 11% annual return....and none of my rentals are leveraged. It could be better if I used leverage. Annual appreciation in my area is 4%....But I have had flyers...bought a $89K condo that’s worth $135K...in 2 years. YMMV depending on geolocation. How passive has your real ...
by Bobby206
Mon Dec 23, 2019 7:38 pm
Forum: Non-US Investing
Topic: Favorite country to live in after FIRE?
Replies: 191
Views: 17652

Re: Favorite country to live in after FIRE?

As someone above posts a bit of a fantasy perhaps. Probably will stay in the US but maybe leave California for Hawaii, Nevada, Texas or Tennessee. Ready for a change of pace after a life here. At least those are all places we have considered. On the other hand, [OT comment removed -- mod oldcomputer...
by Bobby206
Wed Dec 18, 2019 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Is any one uncomfortable with their wealth?
Replies: 152
Views: 11592

Re: Is any one uncomfortable with their wealth?

I’ve been to a bunch of Christmas parties recently where people are discussing their incredible stock market gains with statements like, “I won’t be able to spend all my money in my lifetime’, ‘I’m $1.5 million richer’. .... How many times has this actually happened to you? It seems pretty odd to h...
by Bobby206
Wed Dec 18, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: estate distribution confusion
Replies: 79
Views: 4005

Re: estate distribution confusion

I hope someone can tell me if I am correct or confused. My father passed away and had a condo, this is to be split evenly between myself and my sister. The estate is being handled by a fiduciary who thinks the below result is typical. The value of the condo is $1.1M. My sister wants to keep the con...
by Bobby206
Mon Dec 16, 2019 6:42 pm
Forum: Personal Investments
Topic: Give Land Back [Bought land from friend, he wants to buy it back]
Replies: 83
Views: 4915

Re: Give Land Back

I feel like there might be an old adage about doing business with friends... i.e. DON'T DO IT! Too late now of course. As someone above said split the difference. That's fair for all I would say.
by Bobby206
Sun Dec 15, 2019 2:11 pm
Forum: Personal Consumer Issues
Topic: "Safer" places for Spanish immersion experience?
Replies: 84
Views: 7049

Re: "Safer" places for Spanish immersion experience?

I would do Spain or Costa Rica. Even San Jose CR is pretty safe as far as big cities go.
by Bobby206
Sat Dec 14, 2019 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: How to deposit a gift check made out to a child?
Replies: 24
Views: 1883

Re: How to deposit a gift check made out to a child?

I suspect the IRS would have no problem characterizing money that was "given" to a grandchild but deposited into the child's parent's account actually a gift to the child's parent (ie, don't count on them being sentimental). I wouldn't even use a joint account, since that implies the child and pare...
by Bobby206
Sat Dec 14, 2019 9:37 am
Forum: Personal Investments
Topic: Helping Widowed Aunt
Replies: 34
Views: 3484

Re: Helping Widowed Aunt

Sounds like she is living beyond her means and also perhaps a little bit of a risk taker (i.e. canibis stock). I would tell her not to give $15k to her kids because she can not afford it. She is not a wealthy woman as she seems to think she is.
by Bobby206
Sat Dec 14, 2019 9:34 am
Forum: Personal Consumer Issues
Topic: Car financing denied after 2 weeks
Replies: 131
Views: 7141

Re: Car financing denied after 2 weeks

I'd return the car and get something much cheaper because if he can't qualify then he can't afford it. Sucks for your son but it's just one of those things that happen in real life.
by Bobby206
Mon Dec 09, 2019 2:56 pm
Forum: Personal Consumer Issues
Topic: Do you subscribe to Consumer Reports?
Replies: 57
Views: 3871

Re: Do you subscribe to Consumer Reports?

I have only been subscribing for about 40 years now. To answer your questions: What categories in the magazine do you find particularly useful? There is rarely something I don't find useful. Does the magazine have a vested interest in any particular category which may sway their opinion? I don't thi...
by Bobby206
Sun Dec 08, 2019 9:36 pm
Forum: Personal Consumer Issues
Topic: Estate sales, not for just dead people?
Replies: 21
Views: 2398

Re: Estate sales, not for just dead people?

An "estate sale" is just a fancy garage sale or yard sale. #facts
by Bobby206
Sun Dec 08, 2019 2:48 pm
Forum: Personal Investments
Topic: How much can I spend on a house?
Replies: 13
Views: 1405

Re: How much can I spend on a house?

I'd wait. You are young. Leave yourself more flexible to move. Also, you don't want to be house poor and you would be for a $300k house in my opinion.
by Bobby206
Fri Dec 06, 2019 10:00 am
Forum: Personal Consumer Issues
Topic: Downsizing CDs, Tapes Etc.
Replies: 50
Views: 3896

Re: Downsizing CDs, Tapes Etc.

My wife loves to listen to music, particularly classical. She has a large collection of music CDs and cassettes. Also, all day long, she listens to our local FM classical music station on a boom box that is located in the kitchen. In general, she has a hard time letting anything go and we have a se...
by Bobby206
Tue Dec 03, 2019 7:49 pm
Forum: Investing - Theory, News & General
Topic: How Far Will Dow Fall During Next Retraction
Replies: 60
Views: 4330

Re: How Far Will Dow Fall During Next Retraction

mptfan wrote:
Tue Dec 03, 2019 6:26 pm
Bobby206 wrote:
Tue Dec 03, 2019 6:15 pm
I say somewhere between 0% and 100% depending on a lot of factors.
If the Dow drops to zero, your asset allocation will be the least of your worries.
Yup. That's for sure.
by Bobby206
Tue Dec 03, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: How to best sell a home?
Replies: 30
Views: 2111

Re: How to best sell a home?

If so sell it, go rent for a while (or rent back from buyer if they will allow), and then you can make non-contingent offer on next house. Renting. Some big items in storage. And paying a company to help us move to the rental. Those would all be extra costs over a sale/buy with contingencies. Is it...
by Bobby206
Tue Dec 03, 2019 6:15 pm
Forum: Investing - Theory, News & General
Topic: How Far Will Dow Fall During Next Retraction
Replies: 60
Views: 4330

Re: How Far Will Dow Fall During Next Retraction

I say somewhere between 0% and 100% depending on a lot of factors.
by Bobby206
Tue Dec 03, 2019 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: How to best sell a home?
Replies: 30
Views: 2111

Re: How to best sell a home?

I would work to clean your house out, get rid of the crap, make it streamline. Ask an experienced Realtor what work you should do or not do - i.e. paint, carpet, etc..... I would try next spring to sell it and see if any great buyers come around. If so sell it, go rent for a while (or rent back from...
by Bobby206
Tue Dec 03, 2019 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: High income and college costs question
Replies: 317
Views: 14208

Re: High income and college costs question

My impression is very few people, regardless of income, pay retail at a good private school. There is almost always some excuse to reduce that cost and most of the good private schools have large endowments to help defray the cost. At the lower tier private schools I think people do pay because they...
by Bobby206
Tue Dec 03, 2019 10:59 am
Forum: Personal Consumer Issues
Topic: Christmas Vacation Idea with 2 yo Toddler?
Replies: 38
Views: 2243

Re: Christmas Vacation Idea with 2 yo Toddler?

Maybe your child is still too young but eastern TN is super fun for kids - Gatlinburg, Piegeon Forge, etc....
by Bobby206
Mon Dec 02, 2019 4:08 pm
Forum: Investing - Theory, News & General
Topic: How to define enough?
Replies: 73
Views: 10063

Re: How to define enough?

Enough is far less than what people have convinced themselves it is. Cheers Says you. Another person can't say what my "needs" are or how much is needed for me to feel "safe." You can only speak for yourself I should think. Says you??? You seem to have taken this personally. There was no need for t...
by Bobby206
Mon Dec 02, 2019 4:07 pm
Forum: Personal Consumer Issues
Topic: Airline overhead bins...do you think they're assigned?
Replies: 135
Views: 6478

Re: Airline overhead bins...do you think they're assigned?

It's first come first serve except perhaps in higher level cabins. Having said that I do get tired of people that carry on a ton of bags. Just check them. It's really so much easier. Mostly unrelated I have had several recent encounters, on Southwest (first come first serve seating), where people ar...
by Bobby206
Sun Dec 01, 2019 5:20 pm
Forum: Investing - Theory, News & General
Topic: How to define enough?
Replies: 73
Views: 10063

Re: How to define enough?

Silk McCue wrote:
Fri Nov 29, 2019 9:50 pm
Enough is far less than what people have convinced themselves it is.

Cheers
Says you. Another person can't say what my "needs" are or how much is needed for me to feel "safe." You can only speak for yourself I should think.
by Bobby206
Sat Nov 30, 2019 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Buying a used car from a dealer without a title - sketchy?
Replies: 11
Views: 1729

Re: Buying a used car from a dealer without a title - sketchy?

I would investigate the dealership to make sure they seem legit. Length of time in business, online reviews, etc....
by Bobby206
Sat Nov 30, 2019 10:45 am
Forum: Personal Consumer Issues
Topic: Spin Cycle or Upright Bike?
Replies: 56
Views: 3021

Re: Spin Cycle or Upright Bike?

I'd get a Peloton. They are awesome! 30 minutes and you get a great workout!
by Bobby206
Sun Nov 24, 2019 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Lease vs Buy Car...what am I missing?
Replies: 50
Views: 4886

Re: Lease vs Buy Car...what am I missing?

Your post is up for most confusing of the year.

In summation, the way I see it, leases are great if:
- You want a new car every 2-4 years;
- You don't want to have to sell a used car;
- You get one of the smoking lease deals (see leasehakr.com)
by Bobby206
Sun Nov 24, 2019 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Am I Obligated To Pay Attorney Bill?
Replies: 85
Views: 6763

Re: Am I Obligated To Pay Attorney Bill?

It's an implied contract. It's like walking into the barber shop, sitting down in the chair, and letting the guy your hair. You know it's not free. Yes, some attorneys do freebies on nickle and dime stuff like you describe but not all. You should most definitely pay the bill. 100%!