Search found 174 matches

by Freetime76
Tue Feb 18, 2020 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on selling real estate (Family Property)
Replies: 30
Views: 2326

Re: Advice on selling real estate (Family Property)

OP: it sounds like it’s working out for the best. Your mom is off the hook, so to speak. The other value point to you and your wife would be: - You won’t be listing the house and waiting for it to sell (you mentioned rural, so if it’s a slow selling area, that would affect your grandparents, too). -...
by Freetime76
Thu Feb 13, 2020 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Benefits of paying cash for a house
Replies: 50
Views: 4675

Re: Benefits of paying cash for a house

Personal decision, but my opinion is that unless circumstances say otherwise the benefit of paying cash is primarily psychological. If being debt free is comforting in this low interest environment, that is one approach. Financially, having at least a small loan gives you more to invest and some fl...
by Freetime76
Tue Feb 11, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on selling real estate (Family Property)
Replies: 30
Views: 2326

Re: Advice on selling real estate (Family Property)

I think this is what was initially stated as your concern: selling to family can get messy, fast. Family always wants a “family discount”, so who is helping whom? Not knowing your mom, is she A) likely not understanding how the house was built, and her appraiser is misinformed? So therefore she is m...
by Freetime76
Wed Jan 29, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9240

Re: Daughter's Boston Job Offer

I have two daughters. They are accountants not engineers. We encouraged our daughters to counter their first job offer. Both did and their counters were accepted. Most women generally make less than their male peers. A counter of 4-6% is generally accepted. The important task learned in this whole ...
by Freetime76
Wed Jan 29, 2020 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house without realtor - cash offer
Replies: 30
Views: 3296

Re: Selling house without realtor - cash offer

I am replying because this always irks me: As long as you didn’t sign anything, you owe the realtor exactly 0. At least for myself, that's why I said "Ask the agent". If they say "No, you don't owe me anything", you are 100% set, everyone is in agreement. But if they say something else, then my que...
by Freetime76
Wed Jan 29, 2020 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Selling house without realtor - cash offer
Replies: 30
Views: 3296

Re: Selling house without realtor - cash offer

I am replying because this always irks me: As long as you didn’t sign anything, you owe the realtor exactly 0. (Neither owe contractually nor “owe” morally.) Before listing a house, I would be interviewing multiple agents for their comps and opinions on list and selling price...so a mere conversatio...
by Freetime76
Sat Jan 25, 2020 3:49 pm
Forum: Personal Investments
Topic: Investment Planning
Replies: 9
Views: 818

Re: Investment Planning

Hi Everyone, I really appreciate the responses. I think I should of been a little more detailed when I wrote my original post. 1. We are paying $3,500 a month towards my wife student loans. She has just graduated 6 months ago. I am not paying down quicker, in the slim chance that a democrat gets el...
by Freetime76
Sat Jan 25, 2020 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Home
Replies: 11
Views: 788

Re: Purchasing Home

Hmm. Wife wants... So, to that end: are house values down already due to new roads? Or is this an upcoming thing that’s not depressed values much yet? That would be key for me, trying to get out before all that makes my life a huge inconvenience. My mom sold her house to retire. Mere months after se...
by Freetime76
Sat Jan 25, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for in-law retirement/elder-care
Replies: 19
Views: 1409

Re: Planning for in-law retirement/elder-care

Unless there is some kind of pending medical emergency (out of bounds for this forum), they’re young in my mind! Time to enjoy retirement and have some fun :happy Pivoting; the biggest, worst specific issue we’ve run into is...Secrecy. Someone in my family is this way, it’s cultural, and it’s worse ...
by Freetime76
Sat Jan 25, 2020 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Torn Between Aggressive Home Payoff or Investing
Replies: 67
Views: 6341

Re: Torn Between Aggressive Home Payoff or Investing

Lessons I’ve learned: 1. Do not ignore your gut feeling. If you’re uncomfortable, do something to alleviate the stress. [That “Something” should not be trying to rationalize it away.] 2. A paid off house is priceless... :D We will never ever go back to crawling to the bank for anything- even if they...
by Freetime76
Fri Jan 24, 2020 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Career change at 47
Replies: 109
Views: 9717

Re: Career change at 47

OP, Take 2 weeks' vacation. Go to the mountain and/or beach. Cut off the noise. Spend some time listening to yourself. Find out what you want out of your life. KlangFool Believe me I've tried. Been thinking of this for a while now. Just trying to get others perspectives, which is helpful. No other ...
by Freetime76
Thu Jan 23, 2020 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8628

Re: $2 million at a young age

:sharebeer Good on the OP for reading. Thanks you for replying also.

This thread to me reads like something I wish I knew at 20... or 30 for that matter - haha :wink:
by Freetime76
Thu Jan 23, 2020 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: What did you do cool with your money today?
Replies: 104
Views: 8097

Re: What did you do cool with your money today?

I doubled my money... I folded it in half and put it back in my pocket. :D Like this (matches the phase we are in): a hundred dollar bill and some change have been sitting on our table all week from a debit return. Nobody spent it, and nobody broke the 100 yet. Including DH, who quit smoking the en...
by Freetime76
Thu Jan 23, 2020 11:11 am
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8628

Re: $2 million at a young age

... 3 The tendency is to think that we have a lot of time to do things, to think, to wait and cruise, especially at younger ages. Especially youth mixed with wealth. This is a myth. So. Strive for wisdom. Strive for a "different path" than your peers (friends and everyone you know perhaps). 4 Two m...
by Freetime76
Thu Jan 23, 2020 8:47 am
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8628

Re: $2 million at a young age

My family received a huge settlement after a loss in the family and a month from now I will be getting $2,100,000. […] It's all a little overwhelming but I've had a couple months to let it sink in. I don't plan on using any of it for a while, I know that when most people get a large sum of money th...
by Freetime76
Sun Jan 19, 2020 9:15 pm
Forum: Personal Consumer Issues
Topic: Roofing contractor keeps giving me the runaround
Replies: 15
Views: 1386

Re: Roofing contractor keeps giving me the runaround

Yes, time to contact the owner. Keep it very polite. If you don't get satisfaction within a promised time, call the owner back and ask him directly, "Who receives 'service of process' for your company?" That should get his attention. Whatever that means, sounds like a good idea. In writing also hel...
by Freetime76
Sun Jan 19, 2020 8:19 pm
Forum: Personal Consumer Issues
Topic: Best Way to Resolve Property Line/Fence Issue with Heirs
Replies: 53
Views: 3870

Re: Best Way to Resolve Property Line/Fence Issue with Heirs

Briefly: the fence on one side of our property is considerably off the property line, to our detriment. We notified the owner when we found out several years ago and granted them 'use and enjoyment' for them only. The elderly woman who owned the house has died and the children are prepping the hous...
by Freetime76
Sat Jan 18, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Realized we made a major mistake and feeling really sick.
Replies: 162
Views: 14011

Re: Realized we made a major mistake and feeling really sick.

A wife here: my suggestion is lose the battle to win the war. Pony up a small % of your net worth to go to single stocks. Let your wife choose the stocks and you follow her instructions (if you handle the account and she doesn’t want to). Check back in 6 months to a year, etc. I bet she pulls it and...
by Freetime76
Thu Jan 16, 2020 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: How to reduce spending -- suggestions?
Replies: 73
Views: 6469

Re: How to reduce spending -- suggestions?

If you just retired, sometimes it takes a while for the dust to settle (buying/doing all the things you couldn’t or didn’t when you were working). In our household, we it helps to start with the big picture, before pouncing on my husband’s lunch at McyD’s or my Panera runs. Suggestion: Does your spo...
by Freetime76
Thu Jan 16, 2020 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Anyway, my mom refers to state programs like Medicaid if sister really can’t support herself. Even Medicaid expects you to work unless you're mentally or physically disabled. So why doesn't one/both of you ask her why she doesn't work? Ask her what's she's going to do for income when she is mom's a...
by Freetime76
Tue Jan 14, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

I don’t really understand all the hand-holding for a 37 year old who might well be in her 50s by the time all this gets settled. Mental illness. Substance abuse. Physical disability. Unless you have a close family member with one or more of these conditions, it’s hard to understand these situations...
by Freetime76
Tue Jan 14, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

FYI - my mother was able to pull up this thread to read on her senior phone (as she calls her jitterbug), so she said to write thank you to all for the help.
by Freetime76
Tue Jan 14, 2020 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

- I’m not on any of mom’s accounts right now. DH and I have enough to cover any short term expenses for my mom, before the estate is established (or whatever the term is). I would be careful with this, especially since you anticipate possible difficulty with sibling. (btw, since sibling created pro...
by Freetime76
Tue Jan 14, 2020 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Relying on Bogleheads and not seeking advice of an attorney would be a gotcha. Yes, although there are some BH posters (for example, bsteiner) who are as knowledgeable as any attorney can be, you still need an attorney that you’ve retained. Tremendously knowledgeable, but advice still should come f...
by Freetime76
Tue Jan 14, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Will mom be going over her options with a lawyer? The lawyer will ask several question that your mom may not have considered, such as: 1. How does she want her assets split if the house is worth more than half the estate or the only thing left in the estate? 2. What does she want for sibling if you...
by Freetime76
Sun Jan 12, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Relying on Bogleheads and not seeking advice of an attorney would be a gotcha. Yes, although there are some BH posters (for example, bsteiner) who are as knowledgeable as any attorney can be, you still need an attorney that you’ve retained. :wink: Got it. She’s doing that. Her attorney works with f...
by Freetime76
Sun Jan 12, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

So to redirect slightly: is it correct that there is no real difference in leaving investment account stock and mutual funds to be probated (through the will) vs direct to a named beneficiary as transfer on death? Other than maybe a small gain or loss while part of the estate, which has to be report...
by Freetime76
Sun Jan 12, 2020 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Something else to consider is how much your mom's end of life care is going to cost and if Medicaid will become involved. NH care where I live costs 10-12K per month. Unless mom has a high 6 figure portfolio aside from the house, that is going to get drained and if Medicaid comes into play, there w...
by Freetime76
Sun Jan 12, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Sounds like you and I are in a similar situation. I am the financially responsible and more financially secure sibling. My parents initially were going to set up a will and trust that would ensure the money for my sibling get handed out over time and doesn't get blown. Then my parents decided rathe...
by Freetime76
Sun Jan 12, 2020 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Your mom should consider whether leaving the house to your sister (either outright or in trust) makes sense. If large/older/expensive to upkeep), consider whether the house should be sold by the estate and a smaller/newer/cheaper home purchased for sister. She might be able to pay the maintenance/u...
by Freetime76
Sun Jan 12, 2020 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

Sounds like you and I are in a similar situation. I am the financially responsible and more financially secure sibling. My parents initially were going to set up a will and trust that would ensure the money for my sibling get handed out over time and doesn't get blown. Then my parents decided rathe...
by Freetime76
Sun Jan 12, 2020 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Re: Mom is updating her will - any “gotchas”?

OP here: thank you for taking your time to reply! Thank your for mentioning the living trust option. Maybe she should discuss with her attorney (never fully understood the pros and cons). I really don’t want to be the go to person for money from a trust for sibling, but mom could use a bank or other...
by Freetime76
Sat Jan 11, 2020 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4255

Mom is updating her will - any “gotchas”?

Thank you in advance for any perspectives or advice. My mom and I talk openly about her finances, including estate plans. We’ve read The Good Will. I’m her executor...(mostly) glad except I know what it means. Dad’s estate was rough to do (sibling issues to the nth degree), and I’m asking for commen...
by Freetime76
Sat Jan 11, 2020 1:49 pm
Forum: Personal Consumer Issues
Topic: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?
Replies: 75
Views: 6033

Re: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?

P.S. great advice above. Definitely get quotes or other opinions. One old house we had needed the line snaked every few years. Using the largest possible diameter blades - learned that the hard way over agonizing over a perpetually flooded basement when doing laundry...and the line was JUST rotoroot...
by Freetime76
Sat Jan 11, 2020 1:43 pm
Forum: Personal Consumer Issues
Topic: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?
Replies: 75
Views: 6033

Re: New Sewer Line 2 weeks after Home Purchase. Any Legal Recourse?

How much legal recourse do we have for trying to get the sellers to pay at least part of this damage? I don't think you have any. This type of thing is one of the costs of owning a home. I agree it's the cost of owning a home. Legal recourse is lying on a seller's disclosure list. Not to mention th...
by Freetime76
Sat Jan 11, 2020 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone sold a home to Zillow?
Replies: 26
Views: 5028

Re: Has anyone sold a home to Zillow?

If you want a quick deal look for advertising from people who buy "ugly houses". That advertising comes and goes in a lot of areas. I'm sure they've got quick cash deals available and you won't have to spend a lot of time figuring out how to invest the proceeds of the sale because there likely won'...
by Freetime76
Wed Jan 08, 2020 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: How do you mentally process stupid ways of losing money?
Replies: 84
Views: 7161

Re: How do you mentally process stupid ways of losing money?

Since were having confession :beer - - I paid an hvac guy about $130 to tell me our furnace was perfectly fine. Hey, I smelled propane! - Bought a car for 30K and sold back to dealer a relatively few years later for about $12K. After buying new snow tires. Hey, we were in a pinch. Stef, that’s about...
by Freetime76
Wed Jan 08, 2020 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: How do you mentally process stupid ways of losing money?
Replies: 84
Views: 7161

Re: How do you mentally process stupid ways of losing money?

OP: This was once said with love to me, and I pass it to you: :D , who are you to think you will not ever make a mistake or can be careful enough to prevent a failure? It is hubris to think you will not screw up ever. :wink: C’mon...any issue that starts with “My iPhone...” - I just can’t feel sorry...
by Freetime76
Wed Jan 08, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Our 'cure' for emergency expenses
Replies: 147
Views: 21396

Re: Our 'cure' for emergency expenses

Sigh. I commented on this thread in it's original time frame, and although I'm off course happy that the concept is working out well for the OP it still sticks in my craw that someone took something that a rational person does anyway (saves money for non monthly and irregular expenses), slaps a sil...
by Freetime76
Wed Jan 08, 2020 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Our 'cure' for emergency expenses
Replies: 147
Views: 21396

Re: Our 'cure' for emergency expenses

...My point was that once irregular expenses have been properly budgeted for, expenses that used to be "emergencies" suddenly are not so any longer. For instance, I hear people talk about using their emergency fund to get their car fixed. IMHO, a car repair should not be an emergency; repairs of th...
by Freetime76
Wed Jan 08, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Moving Costs
Replies: 24
Views: 990

Re: Moving Costs

We're on the smaller house/lower cost end of the spectrum - we live like grad students :D . We pack our own boxes and needed help for heavy things, meaning no pack/unpack. It was $100-200/hr just for labor. We hired a local company (owned/operated by firemen, loved it - very low level of BS). We onl...
by Freetime76
Tue Jan 07, 2020 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Millennial Looking for Creative Alternatives for Loan/Mortgage
Replies: 77
Views: 5259

Re: Millennial Looking for Creative Alternatives for Loan/Mortgage

How to world actually works and how you want the world to work, do not always align. Getting "creative" with money/loans is usually a risky thing. OP - find the best/lowest rate you can, from a Credit Union if that makes you feel better. Donate the "savings" vs a higher priced loan to some charity,...
by Freetime76
Tue Jan 07, 2020 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Opportunity cost of helping out relatives
Replies: 54
Views: 4870

Re: Opportunity cost of helping out relatives

Whatever you decide, you have no moral obligation (I.e. you are not a bad person if you hold off on the 7K). Actually, you sound like a very generous person who wants to do the most good and thinks about family legacy. In the long term, you might consider setting aside some amount in a fund to suppo...
by Freetime76
Tue Jan 07, 2020 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Adding Mother-in-law to joint account?
Replies: 23
Views: 1861

Re: Adding Mother-in-law to joint account?

I agree that the best answer might be to avoid this whole mess and wait until she sells her house. If this is really important to you, I might consider talking to an attorney about having her sell you her home or a share of the home. Make sure you would consider any tax consequences. That’s an idea...
by Freetime76
Mon Jan 06, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Renting without income
Replies: 21
Views: 1896

Re: Renting without income

OP: We just did this exact thing - relocate without jobs, not retired. I visited in person and said straight up what our situation was, asking if it would be an issue. Two out of two places said no problem, they review each applicant individually. Yes, I applied online to one, but only after seeing ...
by Freetime76
Mon Jan 06, 2020 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Adding Mother-in-law to joint account?
Replies: 23
Views: 1861

Re: Adding Mother-in-law to joint account?

I like option 3. She waits until she sells her current home, and chooses a new condo she can afford. What's the rush? And option 2 is so fraught with legal peril.... you would effectively be making her a legal gift of 1/2 that account, so you would have to report that and offset it from your estate...
by Freetime76
Sat Jan 04, 2020 10:25 pm
Forum: Personal Investments
Topic: Inheritance in wife’s name or both spouses?
Replies: 78
Views: 6246

Re: Inheritance in wife’s name or both spouses?

If my inheritance had been $25,000, I doubt that I would have kept it in an individual account. But it was substantial enough that I wanted to be certain that I was honoring my parents by making sure that it ultimately stays with their descendants or goes to charity. I don't quite understand this >...
by Freetime76
Sat Jan 04, 2020 10:07 pm
Forum: Personal Investments
Topic: Inheritance in wife’s name or both spouses?
Replies: 78
Views: 6246

Re: Inheritance in wife’s name or both spouses?

I’ve been surprised by some of the responses in this thread since my wife and I have always jointly held our assets when possible, including her inheritance and, eventually, mine. I think it would bother the other if one of us began insisting on separate assets. It isn’t because our marriage has an...
by Freetime76
Sat Jan 04, 2020 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Getting married, spouse low/no-income. What to do?
Replies: 15
Views: 3108

Re: Getting married, spouse low/no-income. What to do?

What are your plans for health insurance? What would happen if you lost your job? Would it be beneficial if your spouse worked part-time? Do you have an "exit plan" to turn "low income" into "more income" if you go into debt or hardship? Note: be careful of cutting your numbers close. Thingz can ha...
by Freetime76
Mon Dec 30, 2019 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Home selling advice: Agent vs. FSBO vs. redfin
Replies: 94
Views: 4489

Re: Home selling advice: Agent vs. FSBO vs. redfin

I'm in the process of selling a house, and I share the OP's frugality, desire to maximize returns, and general dis-like of middlemen. It's also a lot of money, so (as he pointed out) a 1% swing is much more significant than on a tank of gas. So, I feel like I can relate to where he's coming from. T...