Search found 826 matches

by bmelikia
Wed Mar 27, 2024 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Father Has Passed; Do we need an Appraisal?
Replies: 25
Views: 2696

Re: Father Has Passed; Do we need an Appraisal?

RetiredAL wrote: Tue Mar 26, 2024 8:15 am
Sandi_k wrote: Tue Mar 26, 2024 12:34 am
Given that - is there any reason to pay for an appraisal of the property? The only reason I can think of is if she needs to sell the property for long-term care, and needs to document the value now to determine her future hypothetical capital gains.

Any other reason why an appraisal would be needed?
Absolutely YES!

For getting the step-up valuation if she sells at a late date. In CA, that 100% step-up, other places maybe only 50%.

Seek council on re-titling.
Does getting the step up in basis require you to pay a higher property tax?
by bmelikia
Fri Mar 15, 2024 5:11 pm
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1300

Re: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

retiredjg wrote: Fri Mar 15, 2024 4:13 pm What else? See if your 401k plan offers the opportunity to use the "mega-backdoor Roth" which involves making after-tax contributions and converting to Roth. More plans are doing that these days.
Does my already having funds in a Vanguard Rollover IRA Brokerage Account from a former employer matter/impact the possibility of doing this?

Or could I do a mega-backdoor Roth option through my 401k if they offer the option regardless?
by bmelikia
Fri Mar 15, 2024 5:09 pm
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1300

Re: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

retiredjg wrote: Fri Mar 15, 2024 4:13 pm Your IRA does not affect your spouse though. She could use the backdoor Roth method (assuming she has no traditional IRAs)
Interesting. . .I guess I never thought of that was a possibility. . .so since my wife only has a Roth IRA account, we can do a backdoor Roth IRA into her Roth IRA without issue?
by bmelikia
Fri Mar 15, 2024 3:52 pm
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1300

Re: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

Quick Stats: Self (39) Wife (37) Filing Status: Married Filing Jointly 2023 Adjusted Gross Income: 230k (so we are just above the phase out limit for married filing jointly) Vanguard Rollover IRA Brokerage Account (former employer 401k traditional): 195k Anticipated 2024 Adjusted Gross Income: 335-350k Scenario: We were hoping we would be eligible to fund a 2023 Roth IRA, but looks like we are just outside of the 2023 Income Phase Out limit Other than taking advantage of an employer sponsored plan (Ex: 401k) - what would you advise? You only need to worry about the pro rata rule in the year you make a conversion, and only then on December 31st. If you have a current 401(k), contact them to see if they will accept your incoming rollover. Id...
by bmelikia
Fri Mar 15, 2024 10:28 am
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1300

Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

Quick Stats:
Self (39)
Wife (37)

Filing Status: Married Filing Jointly

2023 Adjusted Gross Income: 230k (so we are just above the phase out limit for married filing jointly)

Vanguard Rollover IRA Brokerage Account (former employer 401k traditional): 195k

Anticipated 2024 Adjusted Gross Income: 335-350k

Scenario:
We were hoping we would be eligible to fund a 2023 Roth IRA, but looks like we are just outside of the 2023 Income Phase Out limit

Other than taking advantage of an employer sponsored plan (Ex: 401k) - what would you advise?
by bmelikia
Mon Mar 11, 2024 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Cash Do You Keep In Your Home?
Replies: 207
Views: 15486

Re: How Much Cash Do You Keep In Your Home?

My wife is a hair stylist, and we converted one of our bedrooms into a salon room for her to be able to work from home. . .very common for her to receive cash from clients. . .probably 30-35% of clients pay cash, that's certainly the preferred form of payment. . .so used to having 3-5k of cash in our home safe Mom passed in December of this past year, she always said that if she were to pass that my brother and I would need to access the safe under the stairs. . .and that there was 25k in cash. . .sure enough, there it was. . .25k even My brother and I used some of those funds to pay for miscellaneous funeral expenses So that said, I used to have 3-5k of cash in my safe at home. . .now I have around 14-17k Probably going to burn through 8-1...
by bmelikia
Wed Feb 21, 2024 1:15 pm
Forum: Personal Investments
Topic: Was it a mistake to suggest allocating developing markets in roth ira?
Replies: 30
Views: 2000

Re: Was it a mistake to suggest allocating developing markets in roth ira?

Gradient Descent wrote: Wed Feb 21, 2024 11:41 am
omert wrote: Wed Feb 21, 2024 11:40 am
bmelikia wrote: Wed Feb 21, 2024 11:37 am Well. . .the question now, what matters for the next 15 years?
Maybe the underlying assumption that we can predict what's a high growth asset and put it in roth ira is wrong...
That is correct. :D
Bingo. . .we'll just have to wait 15 years and find out
by bmelikia
Wed Feb 21, 2024 11:37 am
Forum: Personal Investments
Topic: Was it a mistake to suggest allocating developing markets in roth ira?
Replies: 30
Views: 2000

Re: Was it a mistake to suggest allocating developing markets in roth ira?

Well. . .the question now, what matters for the next 15 years?
by bmelikia
Wed Jan 31, 2024 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

Stinky wrote: Wed Jan 31, 2024 1:44 pm It's going to cost you about $63 in interest, assuming you can make 5% on a money market fund, to hold a $66,000 check for 7 calendar days.
The $63 has much less of an impact on my financial picture than the chance that something could be off with the paperwork/documentation. . .although granted, highly unlikely
by bmelikia
Wed Jan 31, 2024 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

I am assuming I should wait to deposit the check I received for 66k until I get their official response in 3-5 business days. . .in the unlikely event that something comes up that shows the 200k death benefit should have still been honored?
by bmelikia
Wed Jan 31, 2024 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

Chardo wrote: Wed Jan 31, 2024 12:26 pm When someone lapses a whole life policy, there are typically two possible defaults. The policy is converted to paid-up policy for a reduced face amount, or the policy is converted to term insurance for some length of time. It's possible that this policy was converted to reduced paid up when it lapsed.
Like, when my mom missed or was late on the payment. . .the "new" term policy likely carried a reduced death benefit?
by bmelikia
Wed Jan 31, 2024 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

UPDATE So - I don't have official paperwork yet. . .but I reached out to MetLife this morning by phone, it sounds like the policy was originally a whole life policy, but possibly my mom was late on a payment in 1998 that required the whole life policy to get converted to a term policy and somehow that may have affected the death benefit? I'm not entirely sure though. . .my mom had mentioned something to me about the whole life to term policy transition, but she hadn't mentioned that having an impact on the death benefit She always kept referring to it as a 200k death benefit. . .so, could just be possible that she didn't understand the death benefit implications of the policy converting to a term policy and other potential policy penalties...
by bmelikia
Tue Jan 30, 2024 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

Stinky wrote: Tue Jan 30, 2024 9:49 am
humblecoder wrote: Tue Jan 30, 2024 9:45 am Dumb question for those championing the "three beneficiaries" theory.

If that were the case, why would the letter to the OP state that the "basic policy face amount" was $131,826? I would have thought it would be $200,000.
Dumb question back -

Why would Mom have said that she had a $200,000 policy when the “basic policy face amount” was $132k?

I think OP will need to get back to us with the results of some research. Boglehead Nation has given OP some issues to explore. That’s about all we can do.
Yes, appreciate all of the input - hoping I will hear back from MetLife in the next day or so
by bmelikia
Tue Jan 30, 2024 7:15 am
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

Re: MetLife - Life Insurance Paid Less than Face Value

Chardo wrote: Tue Jan 30, 2024 4:17 am With such an odd basic policy face amount, there may have been a term rider blended in to reach 200k. And that term rider may have ended based on age. How old was she?
She was 70 years old
by bmelikia
Mon Jan 29, 2024 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: MetLife - Life Insurance Paid Less than Face Value
Replies: 22
Views: 2496

MetLife - Life Insurance Paid Less than Face Value

I’ve made a few posts about my mom’s passing. . .she passed on 12/24/23 I called MetLife soon after my mom’s passing to inquire about the process of claiming the life insurance payout. My mom had told me it was a $200,000.00 policy, and when I called and spoke with the representative over the phone - they also confirmed that it was a $200,000.00 policy. . .and the rep also said the account was “in good standing”. My brother and I are 50/50 beneficiaries, we submitted our life insurance claim paperwork together, along with a copy of the death certificate a few weeks back. . .so assumed each of us would be getting a check for $100,000.00 This afternoon I received my check, but it was only for approximately $66,700.00 The “basic policy face am...
by bmelikia
Thu Jan 18, 2024 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Help Needed
Replies: 13
Views: 2043

Re: CA Estate - Mother Recently Passed - Help Needed

bd7 wrote: Mon Jan 15, 2024 4:15 pm Who exactly is the "family farming operation" that owes the $176k to your mother's estate?
I think it's the "LLC" or "LP" for the family farm
by bmelikia
Thu Jan 18, 2024 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Will Question
Replies: 14
Views: 975

Re: CA Estate - Mother Recently Passed - Will Question

Lee_WSP wrote: Thu Jan 18, 2024 12:11 pm
bmelikia wrote: Thu Jan 18, 2024 12:06 pm
Big Dog wrote: Thu Jan 18, 2024 11:35 am yes, supposed to be submitted to the county within 30 days.
Do you know what the "penalty" is for missing that 30 day window?
custodian of a will who fails to comply with the requirements of this section shall be liable for all damages sustained by any person injured by the failure."
I honestly don't even know how to process that statement - what would be an example of "damages sustained" as a result of filing the paperwork in 42 days versus adhering to the 30 day window?
by bmelikia
Thu Jan 18, 2024 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Will Question
Replies: 14
Views: 975

Re: CA Estate - Mother Recently Passed - Will Question

Big Dog wrote: Thu Jan 18, 2024 11:35 am yes, supposed to be submitted to the county within 30 days.
Do you know what the "penalty" is for missing that 30 day window?

My current appointment with the estate attorney is well in excess of the 30 days of my mom's passing. . .but that attorney supposedly doesn't have availability sooner than that

Trying to understand what the risk of not filing within that 30 day window is
by bmelikia
Thu Jan 18, 2024 11:10 am
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Will Question
Replies: 14
Views: 975

Re: CA Estate - Mother Recently Passed - Will Question

Lee_WSP wrote: Thu Jan 18, 2024 11:07 am While some states have statutes which require depositing of a will, these statutes are never actually enforced unless someone destroys or intentionally keeps the will.
And are those statutes what dictates the “30 day” window?
by bmelikia
Thu Jan 18, 2024 11:04 am
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Will Question
Replies: 14
Views: 975

CA Estate - Mother Recently Passed - Will Question

Mother passed away on 12/24/2023. . .

My meeting with the estate attorney is 1/30 (this is the earlies the attorney is able to meet)

My mom had a Living Trust and a "pour over will"

I read something online about the need to "present the will" within 30 days of someones passing. . .is this correct?

If true, my meeting on 1/30 will be in excess of this "less than 30 days" requirement

What would the ramifications be?

Is it important enough to meet this 30 day deadline that I should try to schedule a meeting with a different estate attorney for an earlier time that would fall within this 30 day deadline?

Please advise
by bmelikia
Mon Jan 15, 2024 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Help Needed
Replies: 13
Views: 2043

Re: CA Estate - Mother Recently Passed - Help Needed

Don't forget to search for unclaimed property. (I found ~$3k sitting there for years.). Inquire if the RMD was taken. As co-Trustees, you both may have to sign everything. Take your time, no rush. Did the folks have a pour-over will? If so, you might be able to argue that the Note belongs in the Trust, even if it was not so named. (The small estate limit increased to $184k in 2022.) https://www.sco.ca.gov/search_upd.html https://www.courts.ca.gov/10440.htm?rdeLocaleAttr=en Question - regarding the California Small Estate Affidavit (184k). . .based on the information that I provided, does it look like a California Small Estate Affidavit can be used? Would the life insurance that is going to be paid to my brother and I (since we were listed ...
by bmelikia
Fri Jan 12, 2024 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Help Needed
Replies: 13
Views: 2043

Re: CA Estate - Mother Recently Passed - Help Needed

RetiredAL wrote: Fri Jan 12, 2024 5:06 pm
bmelikia wrote: Fri Jan 12, 2024 3:50 pm
An EIN was acquired and all bank accounts / investment accounts opened or kept open were titled using this EIN. I was joint on his banking/saving accounts and several were just closed. A Trust EIN Checking account for paying bills was opened.
For the bank accounts that you opened with the new EIN for purposes of paying estate related expenses, how did you title those new accounts?
by bmelikia
Fri Jan 12, 2024 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: CA Estate - Mother Recently Passed - Help Needed
Replies: 13
Views: 2043

CA Estate - Mother Recently Passed - Help Needed

My mom passed away on Christmas Eve after dealing with cancer and other health complications (my dad passed away around 9 years ago). . .have been trying to wrap my head around the process ahead. . .have a phone call into the attorney who created my mom's living trust, he said he will get back to me over the weekend or early next week - but wanted to consult the message board to at least get the wheels spinning on possible good paths forward and general "what to do" thoughts. . . State of Residence: California My Age: 39 Brothers Age: 35 Mom created a living trust in 2014, with my brother and I listed as successor co-trustees (we are the only children) Assets titled in name of Living Trust at time of mom's passing (with approximat...
by bmelikia
Tue Jan 09, 2024 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct and revocable trusts at death
Replies: 8
Views: 909

Re: Treasury Direct and revocable trusts at death

Have you read this page? https://www.treasurydirect.gov/savings-bonds/cashing-a-bond/trusts/ Thanks. Much of what I see there seems to address disposition of paper bonds (I have none). My assumption is one creates a new acct in the name of the new trustee, and then can redeem as per trust rules. This implies trust to trust transfers, which someone on another thread asserted could not be done. If not then not sire what happens to the bonds. You can’t just redeem, some could be < 1 year old and not redeemable. Really? Because half-way down the page I linked: Distribute savings bonds from a trust In settling an estate, you may ask us to take bonds registered in trust form and distribute them to different people who are entitled to those bonds...
by bmelikia
Fri Dec 22, 2023 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance Financial/Moral Dilemma
Replies: 105
Views: 13303

Re: Inheritance Financial/Moral Dilemma

I have two children. Both are OK but one has more income than the other. Both save but one can save more. Strictly financially speaking I would split my inheritance 2/3 and 1/3. Morally I'd do 1/2 and 1/2. I don't want any trouble but I would like them both to have comfortable retirements. I don't want to bring it up with them. They are currently named as coexecutors. What would you do? First, coexecutors is rarely a good idea, it can cause all sorts of unexpected issues. Second, it’s your money and your call. If you decide on 2/3 and 1/3, I STRONGLY suggest you discuss your thinking and rationale ahead of time. This can easily fracture relationships if your kids don’t understand your thinking. WoodSpinner Yea, if you don't do even. . .my ...
by bmelikia
Fri Dec 22, 2023 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance Financial/Moral Dilemma
Replies: 105
Views: 13303

Re: Inheritance Financial/Moral Dilemma

dadjunk wrote: Fri Dec 22, 2023 7:09 am What would you do?
50/50. . .I can't imagine it going well any other way
by bmelikia
Thu Dec 21, 2023 10:49 am
Forum: Personal Investments
Topic: Seeking inheritance advice
Replies: 45
Views: 4758

Re: Seeking inheritance advice

mahgeetah01 wrote: Thu Dec 21, 2023 10:36 am
HMSVictory wrote: Thu Dec 21, 2023 10:35 am How much do you owe on your mortgage. I would probably make that go away in the process here at some point.
$600K at 2.125% for the next 8 years, then ARM.
I am a big "pay of the mortgage" guy. . .but at 2.125%, that's hard to pull the trigger on paying that off

I would say at the very least, hold 600k in treasuries, CDs or something else that gives you a better "guaranteed" return for the time being so that if/when you can't get a better return you can always just pay off the house

Just my quick 2 cents on that portion of the discussion
by bmelikia
Mon Dec 18, 2023 1:00 pm
Forum: Investing - Theory, News & General
Topic: Winning the game and Dry Powder
Replies: 157
Views: 26239

Re: Winning the game and Dry Powder

TheTimeLord wrote: Sat Dec 16, 2023 9:05 am Once you have "Won the game" does the concept of keeping some "Dry Powder" for opportunistic investing become relevant?
Philosophically, if you have already "won the game". . .the concept serves no purpose and isn't relevant. . .so I would think the answer would be "it doesn't matter"

And since you've already "won the game", you can do whatever you want with those additional dollars. . .choose to keep as "dry powder" or whatever else you want to do with those dollars
by bmelikia
Tue Nov 21, 2023 4:10 pm
Forum: Personal Consumer Issues
Topic: WSJ Cyber Week Sale is here, $2/month for 1 year of digital WSJ
Replies: 17
Views: 2929

Re: WSJ Cyber Week Sale is here, $2/month for 1 year of digital WSJ

life in slices wrote: Tue Nov 21, 2023 6:26 am
SteveinVanvcouverWA wrote: Mon Nov 20, 2023 11:23 pm If I already have a more expensive subscription, is it possible to take advantage of this bargain of $2/month? Any recommendations or tips?
I was able to go into my account, click the link for 'cancel subscription' which give options to keep subscription but at lower rate (I did go through the link that the OP posted - not sure if that makes a difference) - I was able to change my subscription to one of the lower cyber week rates.
Thanks for the tip - was able to renew my subscription at $4/month for the next 12 months - much appreciated!
by bmelikia
Sun Nov 19, 2023 11:02 pm
Forum: Personal Consumer Issues
Topic: Favorite Audio (Audible) Books?
Replies: 23
Views: 2204

Re: Favorite Audio (Audible) Books?

When Breath Becomes Air by Paul Kalanithi. . .not sure who the narrator was but really pulled me in
by bmelikia
Fri Nov 03, 2023 1:41 pm
Forum: Personal Investments
Topic: Farmland investment
Replies: 16
Views: 2168

Re: Farmland investment

Hi all - I'm considering going after a 140 acre farm as a long term investment. We wouldn't live there and would lease out the land to be farmed. Anyone have any experience with something like this? Farmland in this area has appreciated at a consistent 6-7% annual rate for the last couple of decades. I like the idea of a seemingly safe investment outside of the market for diversification purposes. It seems like a solid option for the next 10-15 years and if a development opportunity ever came up (fingers crossed) it could be nice windfall. I'm trying to get comfortable with the cash outlay to purchase the land and loss of liquidity associated with it. Would love to learn about any experience's others have had...good or bad. Thanks Boglehea...
by bmelikia
Wed Oct 18, 2023 2:44 pm
Forum: Investing - Theory, News & General
Topic: 3 Year Notes - Coupon Rate - When do they adjust?
Replies: 6
Views: 688

Re: 3 Year Notes - Coupon Rate - When do they adjust?

I think I worded that wrong I guess not that it changes - I guess I’m asking. . .when will new issue 3 year notes have a 5% coupon?
by bmelikia
Wed Oct 18, 2023 12:20 pm
Forum: Investing - Theory, News & General
Topic: 3 Year Notes - Coupon Rate - When do they adjust?
Replies: 6
Views: 688

3 Year Notes - Coupon Rate - When do they adjust?

3 Year Notes recently crossed the 5% yield mark, I believe coupon rates are currently 4.625%

Since the yield is over 5% (just barely) - does that mean that the coupon rate should adjust at some point to 5%?

Thought I could get some insight from others on the board about how/when coupon rates adjust

Edited comment: when will new issue 3 year notes have a 5% coupon?
by bmelikia
Tue Oct 17, 2023 12:41 pm
Forum: Investing - Theory, News & General
Topic: Treasuries Today - What duration are you buying?
Replies: 128
Views: 23167

Re: Treasuries Today - What duration are you buying?

Checking in again to see - for those of you purchasing treasuries today - what duration are you buying?
by bmelikia
Mon Oct 16, 2023 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage 6.825% vs savings
Replies: 29
Views: 4665

Re: Mortgage 6.825% vs savings

ranger3 wrote: Wed Oct 04, 2023 7:21 pm There is no benefit to applying funds to your mortgage until you’ve accumulated enough to pay off the entire loan. Paying extra doesn’t stop you from needing to make the monthly payment until the principal is fully gone. If you can trust yourself to not use the extra money for anything else except an eventually payoff, open an online savings account and put that $3,000 extra “payment” in there until you have enough to eliminate the note entirely. This way you preserve your liquidity in case you end up needing the funds and you still save the exact same amount in interest as if you had paid all along, while earning some interest income of your own.
You can pay down the loan and recast
by bmelikia
Thu Oct 12, 2023 2:20 pm
Forum: Personal Investments
Topic: Available Cash
Replies: 7
Views: 1154

Re: Available Cash

Emergency funds: 12+ months of expenses ~$500K in cash Debt: Mortgage 1: $650K on single-family worth ~$2M Mortgage 2: $2M on investment property worth ~$3.5M Both mortgages @ 2.375% No other debt. Tax Filing Status: Single Tax Rate: 37% Federal, 12.3% State State of Residence: CA Age: 40 Desired Asset allocation: 60% stocks / 40% bonds Current retirement assets Total Portfolio: ~$5.5M Taxable 60% short-term (T-Bills, VMFXX) 25% Vanguard Total World Stock Index Fund (VT) (.08) 3% Vanguard Intermediate-Term Tax-Exempt Fund (VWIUX) (.09) 3% Vanguard California Intermediate-Term Tax-Exempt Fund VCADX (.09) SEP-IRA 7% Vanguard Total Bond Market Index Fund (VGTLX) (.05) HSA 1% Vanguard Real Estate Index Fund (VGSLX) (.12) 1% Vanguard Small-Cap ...
by bmelikia
Sat Oct 07, 2023 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Borrow on Heloc at 1.99%?
Replies: 33
Views: 6865

Re: Borrow on Heloc at 1.99%?

unclescrooge wrote: Sat Oct 07, 2023 6:58 pm
Pokerfacekid wrote: Sat Oct 07, 2023 1:22 pm It was 1% Interest only , locked in May 2023 . Payment is 339 month on 400k. It was a special that ran for 1 month to celebrate their 100th year. Yes it was too good it be true. I keep kicking myself for not taking full amount.
This new one is 1.99% first year then prime -.50 if you have checking account with them.

Should I go for another 400k at this rate?
Can you please share who is lending money so cheaply? I would like to also benefit from this arbitrage opportunity.
Yes, please share
by bmelikia
Fri Sep 29, 2023 8:52 am
Forum: Personal Investments
Topic: [Safe Withdrawal Rate] Are you 3% and why/why not?
Replies: 223
Views: 25277

Re: Are you 3% and why/why not?

The SS actuarial tables show that only about 11% of men alive at age 79 will live until 94, for women it is a bit better, between 18 and 19%. This is of course an average, but the odds of needing the full 15 years is low, so restricting one's lifestyle unnecessarily is unwarranted. I get the sense wealthy Bogleheads with voluntarily low withdrawal rates are restricting their lifestyles much by doing so. At least, I've never heard one complain about it. I guess they're really worried about running out of money, or expect to live to 105, or want to leave a large legacy. Maybe they just don't find much utility in more spending. I believe that's the answer. Or the next step up in lifestyle would cost a lot more than going from 2% or 3% to 4%. ...
by bmelikia
Thu Sep 28, 2023 7:06 pm
Forum: Personal Investments
Topic: [Safe Withdrawal Rate] Are you 3% and why/why not?
Replies: 223
Views: 25277

Re: Are you 3% and why/why not?

Normchad wrote: Wed Sep 27, 2023 9:41 pm I’m a VPW guy.
Just for context. . .what is a VPW guy?
by bmelikia
Thu Sep 28, 2023 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance - When to purchase?
Replies: 34
Views: 4095

Long Term Care Insurance - When to purchase?

I read an article referencing purchasing Long Term Care Insurance when one is in their 40s and/or 50s. . .which made me think, when is an "optimal" time to consider purchasing Long Term Care Insurance?

Was curious to know the opinions of others. . .
by bmelikia
Tue Sep 05, 2023 10:50 am
Forum: Personal Finance (Not Investing)
Topic: If you have a high income ($500K+), how did you do it?
Replies: 190
Views: 24162

Re: If you have a high income ($500K+), how did you do it?

Wanderingwheelz wrote: Mon Sep 04, 2023 9:31 am I doubt there are too many workers out there who are earning $500+ Who don’t work a long week. Some business owners might be able to, but that’s because they’re earning less by paying others more.

It has nothing to do with a time commitment, but everything to do with the value created

Some people work LONG hours, but fail to bring value
by bmelikia
Wed Aug 30, 2023 11:14 pm
Forum: Personal Investments
Topic: How Best To Buy TIPS As A 40 Year Old
Replies: 46
Views: 4384

Re: How Best To Buy TIPS As A 40 Year Old

rebellovw wrote: Wed Aug 30, 2023 4:59 pm
carminered2019 wrote: Wed Aug 30, 2023 4:51 pm good job on saving but not too good on investing.
I don't see a problem - OP has 1.9 M - pretty much won the game at 40 - no point it going crazy with risk.
I’m 38 and my household has half of that net worth. . .I’d rather be in his position with a high savings rate and large amount in more conservative investments

I’d say just keep doing what you’re doing. . .it’s obviously working!
by bmelikia
Mon Aug 14, 2023 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Bloomberg Why the rich don’t feel rich.
Replies: 164
Views: 18872

Re: Bloomberg Why the rich don’t feel rich.

JoMoney wrote: Mon Aug 14, 2023 8:25 pm I'm always curious if people include their retirement accounts in their "net worth"... and if you do, does that mean someone with a pension can include the discounted value of that income stream? If someone is getting a $40k/yr inflation indexed military pension, are they effectively "a millionaire" ?
If net worth were a competition - then perhaps, but no - the 40k produced by your pension is not part of your net worth. . .

. . .if it was, then the same logic would apply to including social security in one’s net worth
by bmelikia
Tue Aug 01, 2023 10:39 am
Forum: Personal Consumer Issues
Topic: Spending Money on Travel
Replies: 65
Views: 8507

Re: Spending Money on Travel

LAS_Rick wrote: Tue Aug 01, 2023 7:59 am Travel is our #1 priority...just dropped $12K on our 30th anniversary to Maui and it's still 3 months away! I wouldn't go into debt for travel but I would definitely delay savings.
Wife and I will be in Maui in November celebrating our 10th! Cheers!
by bmelikia
Mon Jul 31, 2023 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Online Savings/Money Market Rate Increases
Replies: 745
Views: 125115

Re: Ally Online Savings/Money Market Rate Increases

Iorek wrote: Fri Jul 28, 2023 4:53 pm
dvvader wrote: Fri Jul 28, 2023 3:56 pm 9 month CD at 5%. Higher than the 11 month NP CD and the 12 month CD.
Very tempted by this
Why would you do the 9 month CD at 5% when 6 month treasuries are around 5.4% and 1 year treasuries are around 5.3%?

Asking because at the moment I've been putting my mom's money into the treasuries so wanted to get your perspective
by bmelikia
Fri Jul 28, 2023 3:02 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 521164

Re: Tales from this insane real estate market [Home sales]

unwitting_gulag wrote: Wed Jul 26, 2023 1:45 pm.
By sitting on land, doing nothing with it, waiting for it to appreciate, I'm a passive investor. But as a homeowner, I ceaselessly have to do work (or pay others to do it)... repairing, replacing, fixing. Tending to the house, is akin to active investing. Sitting on the land, is akin to... an index fund.
Well. . .the reality is that the end use (or purpose) of that land. . .and values assigned to that land. . .have to allow for the economic viability to build on that land after the purchase price (or current value) of that land

At least in my opinion. . .
by bmelikia
Wed Jul 26, 2023 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: KlangFools How Much House Formula
Replies: 145
Views: 13131

Re: KlangFools How Much House Formula

KlangFool wrote: Wed Jul 26, 2023 5:12 pm We will see a repeat of the same story in the coming recession.

Only those survive get to decide how much wealth could be lost. The rest are homeless.

KlangFool
Enjoy your input. . .

Are you anticipating a recession soon? One that will cause impactful decreases in the value of primary residences?
by bmelikia
Fri Jul 21, 2023 4:03 pm
Forum: Investing - Theory, News & General
Topic: Treasuries Today - What duration are you buying?
Replies: 128
Views: 23167

Re: Treasuries Today - What duration are you buying?

hudson wrote: Fri Jul 21, 2023 12:09 pm Long term...or overall?
Duration Matching
Average duration 10 years
What does that mean when you say "duration matching"?
by bmelikia
Mon Jul 17, 2023 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Are we buying too much house?
Replies: 216
Views: 17778

Re: Are we buying too much house?

Looking for advice from my fellow bogleheads, my wife wants me to get confirmation that we are buying appropriately priced house for our budget. Here’s our backstory. We are in our 30’s and she is a Mohs Surgeon who finished fellowship last year. She’s treating skin cancer in Arizona. I’m working as a parent provide making about $35k a year. Previously I was in data analytics making about $100k a year. We think she will make between 700 and $900,000 a year. Although, Last month she was at a $1M run rate. The purchase price of the house is 1.91 million and we have 10% and down, we have one kid and we plan to get one or two more through gestational carrier because of previous pregnancy complications. She wants the option to potentially scale...
by bmelikia
Mon Jul 17, 2023 5:04 pm
Forum: Investing - Theory, News & General
Topic: Treasuries Today - What duration are you buying?
Replies: 128
Views: 23167

Re: Treasuries Today - What duration are you buying?

Florida Orange wrote: Mon Jul 17, 2023 4:38 pm Here's the secret bond formula: money + time = more money. So I'm buying long duration in case I want some money later.
Because of the concern that shorter duration will = less money for you in the future?