Search found 267 matches

by Freetime76
Sun Sep 27, 2020 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Gazillionth mortgage pay off question
Replies: 43
Views: 3189

Re: Gazillionth mortgage pay off question

OP: In our house, this is not a math question. If it was a math question, you could do umpteen spreadsheets and get an answer. Don’t forget to account for risk in your calculations. I liked your bullet pints for clarity. So, our suggestion is to: 1. Sit down with your wife. 2. Hold hands and imagine...
by Freetime76
Sun Sep 27, 2020 1:58 pm
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 41
Views: 3016

Re: DIY life style. Typical Boglehead?

I would be interested to know what a stereotypical Boglehead is, for those who knew Mr. Bogle personally, or were some of the original tribe... :sharebeer

...something to aspire to :happy
by Freetime76
Sun Sep 27, 2020 1:53 pm
Forum: Investing - Theory, News & General
Topic: Gold is again on my head
Replies: 34
Views: 2328

Re: Gold is again on my head

I have never invested in gold. Always agreed with Buffett on his negative position. And suddenly I read the he has bought into a gold producer. Wow! Either he forgot what he has been saying for many years, or lost his marbles, or I do not get it. Here from “A wealth of common sense“ a podcast to th...
by Freetime76
Thu Sep 24, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 78
Views: 4974

Re: Should I go for online Will making software?

We used an online will, POA, living wills for both DH and I, previously. We are going to do so again (this time, through free will.com) - we moved to a new state. Simple, no kids, most accounts are POD/TOD. What pushed us to do our wills many years ago was a) getting married and b) a certain amount ...
by Freetime76
Sat Sep 19, 2020 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 33
Views: 2642

Re: Estate considerations with sibling living in home owned by parent

No trust, will says all assets divided equally among siblings. Without details in a trust or will addressing these types of things, existing conditions create a precedent, a tacit approval. It can be argued by a good estate litigator that the parents created and maintained a situation, and expected...
by Freetime76
Sat Sep 19, 2020 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Elder abuse? Elderly woman sold home for far less than market value
Replies: 50
Views: 4802

Re: Elder abuse? Elderly woman sold home for far less than market value

I am also surprised at the number of responses that suggest this is a valid transaction. I have some experience of this in my family - an elderly relative took up with a younger woman in his old age, left her the house, and - so I heard - she gave the house to her daughters who sold it for money fo...
by Freetime76
Fri Sep 18, 2020 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Estate considerations with sibling living in home owned by parent
Replies: 33
Views: 2642

Re: Estate considerations with sibling living in home owned by parent

1) Can sibling stay in home during settlement of estate? I'm assuming that it would be fine to reduce sibling's disbursement by the amount of equity in the home and transfer the deed to them, but would that work? 2) Can mortgage payments be made from estate until it's settled? 3) Is there a differe...
by Freetime76
Fri Sep 18, 2020 6:39 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 68
Views: 4205

Re: ethics concern with trust

Perhaps $25K seems petty to many. As you point out, it can disappear quickly when paying out professional fees, but for many families it is still a great deal of money. Its not petty, but if you pursue this, the only winners are the lawyers litigating this frivolous lawsuit and all the beneficiarie...
by Freetime76
Thu Sep 17, 2020 7:17 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

Just to close the loop on this: unfortunately for me, the company still is twitching (website still up, a press release about nothing, a low trade volume of 100 or 1000 shares every so often). There is a friendly warning on the OTC pink sheets website: “Warning! This company may not be making materi...
by Freetime76
Wed Sep 16, 2020 9:21 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

What is your inherited cost basis, and more importantly, what documentation do you have to support that? How much was the stock worth on the OTC around the date of passing? If I understand the situation correctly, you inherited a capital investment worth $xyz on [inherited date] that the original o...
by Freetime76
Wed Sep 16, 2020 9:03 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

Maybe consult with a CPA, but I believe you can abandon your interest in the stock : If you own securities, including stocks, and they become totally worthless, you have a capital loss but not a deduction for bad debt. Worthless securities also include securities that you abandon. To abandon a secu...
by Freetime76
Wed Sep 16, 2020 9:01 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

Vanguard has refused to buy my long-dead stocks (inherited from MIL) for $1 or anything else. Even for Voyager imperialists. We need to find a different solution. Call Schwab or Fidelity. I didn’t have any luck with Schwab either, though it was maybe 8 years ago. They wouldn’t consider listing the ...
by Freetime76
Wed Sep 16, 2020 8:58 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

Ordinarily you can sell your stake for $1 to your broker, or lawyer (someone at arms-length, not a family member), but I also agree if it was worthless at the time you inherited it, and it's worthless now, then you have no loss. (Edit: Sorry for your loss of your loss.) Ha ha, very funny! I get hiv...
by Freetime76
Wed Sep 16, 2020 8:55 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

Re: When is a startup dead so we can claim the loss on shares?

You may not even have a loss. Your basis would normally be the value at the date of death. If that was zero and it currently is zero you would have no opportunity to claim a loss. When was the date of death? Gill DOD was 2010. At the time, the estate value as $4 per share. Penny stock, no trade vol...
by Freetime76
Tue Sep 15, 2020 5:49 am
Forum: Personal Investments
Topic: When is a startup dead so we can claim the loss on shares?
Replies: 23
Views: 2024

When is a startup dead so we can claim the loss on shares?

I inherited shares in a startup company that hasn’t done diddly squat for years. I am interested in closing that chapter by claiming the loss as soon as I can in the eyes of the IRS. - The last SEC filing was Form 10Q 3/31/2019. - Something like 3K cash on hand (unaudited) - this 10Q says about 500K...
by Freetime76
Tue Sep 15, 2020 4:57 am
Forum: Personal Investments
Topic: Ally Bank Not Reliable
Replies: 50
Views: 4983

Re: Ally Bank Not Reliable

I am sorry for your struggle, but it seems they accommodated you per your request once you called. Are you sure you want to give up on them so quickly? I really didn't want to, however being locked out for days seems almost unreal. It also raises a number of other questions, for example, were this ...
by Freetime76
Mon Sep 14, 2020 4:45 pm
Forum: Personal Investments
Topic: Anyone successfully living off dividends & interest?
Replies: 204
Views: 19706

Re: Anyone successfully living off dividends & interest?

Anyone successfully living off dividends and interest? Obviously yes, it’s possible if you have enough invested And/or in combo with your other income sources. Another data point: My mom draws only dividends, never selling the shares to get money. She likes the simplicity of keeping the same # of sh...
by Freetime76
Sun Sep 13, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?
Replies: 71
Views: 5956

Re: Financial Elder Abuse/Neglect/Inheritance Theft - lawsuit or mediation?

Without sounding loony-toons: I can offer to you that karma is real. There is a type of justice that has nothing to do with the courts or lawyers. I’ve seen it. Ill-gotten money of any sort isn’t going to do any good for them in the long run. Karma, plus he doesn’t have the financial chops to succee...
by Freetime76
Fri Sep 11, 2020 7:59 am
Forum: Personal Finance (Not Investing)
Topic: How to stop judging how other people spend/invest
Replies: 76
Views: 4790

Re: How to stop judging how other people spend/invest

TropikThunder wrote: Fri Sep 11, 2020 2:05 am
diydocwifejd wrote: Thu Sep 10, 2020 4:09 pm But I'm starting to realize I have this nasty habit of imposing my world view on others.
You’ll fit in just fine here.
:sharebeer
Good one.
ETA: despite what I said above ;-)
by Freetime76
Fri Sep 11, 2020 7:50 am
Forum: Personal Finance (Not Investing)
Topic: How to stop judging how other people spend/invest
Replies: 76
Views: 4790

Re: How to stop judging how other people spend/invest

I don't know the OP's age, but maybe the OP is not old enough to see that the world is composed of all kinds of people and they are not like me nor you. Sorry, I just judged you. :twisted: Ha I'm 33 :D But I'm starting to realize I have this nasty habit of imposing my world view on others. Just try...
by Freetime76
Thu Sep 10, 2020 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: selling house advice
Replies: 27
Views: 3038

Re: selling house advice

My standard advice: 1. Read the listing contracts, preferably before you sign. :D 2. Get your own idea of pricing and home conditions by looking at sold listings online. 3. Clean as if the Pope is visiting. 4. Do as little updating or fixing as possible. Now is not the time to buy a new HVAC or kitc...
by Freetime76
Thu Sep 10, 2020 8:43 am
Forum: Personal Investments
Topic: Immediate Annuity Satisfaction or Regrets?
Replies: 66
Views: 4442

Re: Immediate Annuity Satisfaction or Regrets?

I prefer to make my own annuity by purchasing SPYD on the open market which currently yields over 6 percent. I don't even have to know the math to intuit that there is a great likelihood that $100,000 invested in SPYD today will put more monthly income in my pocket with a greater "cash out value" a...
by Freetime76
Thu Sep 10, 2020 8:28 am
Forum: Personal Investments
Topic: Immediate Annuity Satisfaction or Regrets?
Replies: 66
Views: 4442

Re: Immediate Annuity Satisfaction or Regrets?

I feel all annuity investing is a mistake. A SPIA is the exception to that rule since it is in essence like buying a pension. Sorry, i do not agree. Only person a SPIA or any Annuity is good for is the insurance company that holds it and the salesman that sold it to you. Terrible investment. How do...
by Freetime76
Wed Sep 09, 2020 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8606

Re: House sale quandary - got offer from neighbor before agent listed house

Things we like: - quick, easy, cash offer - flexibility on the date we have to leave - only one showing in Covid times. We are home-schooling two elementary school kids. Having to keep the house presentable is a HUGE cost. - getting more than I expected (even if I can't know it's the most I could g...
by Freetime76
Wed Sep 09, 2020 6:16 am
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8606

Re: House sale quandary - got offer from neighbor before agent listed house

OP: So...? Any neighborly agreement yet ? (Is that the gardener thread, oh dear...OP should read that saga). To expand/echo on the advice of others: 1. I am getting rid of that agent. It’s already a “no” as soon as I read that your agent is ‘a close family acquaintance’. Oh no. Not available for day...
by Freetime76
Mon Sep 07, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Daughter almost ready to launch into professional life
Replies: 45
Views: 4204

Re: Daughter almost ready to launch into professional life

What an exciting time! As a woman, professional, my 2 cents for your daughter at this stage of her career (I.e. starting off) is: 1. Say “yes” to approximately everything- new projects, new teams, travel, new task, new training. Take it all in. Be a sponge. Use this time to enthusiastically learn bo...
by Freetime76
Sun Sep 06, 2020 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Rice & Beans [limiting food expenses]
Replies: 96
Views: 13917

Re: Rice & Beans [limiting food expenses]

Set a budget for yourself - before you start spending for the month - it is the biggest way to decide and control what you’re doing. That means subtract out savings/payments and live on the rest (creativity before capital, i was reminded recently of this saying). Food: 1. Become a smart shopper. For...
by Freetime76
Tue Sep 01, 2020 6:00 am
Forum: Personal Finance (Not Investing)
Topic: Seeking Advice on Buying New Home before Selling
Replies: 6
Views: 911

Re: Seeking Advice on Buying New Home before Selling

Hooray for your pending move! ( we aren’t sophisticated in our investments and not as high an income, hopefully someone else will chime in) - Definitely advantages of being out of the first house when selling it. (We did this recently.) It can be kept pristine, and you don’t have to haul the whole f...
by Freetime76
Mon Aug 31, 2020 7:02 pm
Forum: Personal Consumer Issues
Topic: Oddly Difficult to Find Items During the Pandemic
Replies: 278
Views: 24283

Re: Oddly Difficult to Find Items During the Pandemic

What I've seen is consistent with the hypothesis that our normal smoothly-flowing manufacturing, distribution, and stocking flow has gotten more turbulent. There's no particular pattern to it. Sample size n=3, different states “all stores” because aunt and mom check several. I only have Walmart. It...
by Freetime76
Mon Aug 31, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Suggestions for reducing estate issues?
Replies: 22
Views: 1477

Re: Suggestions for reducing estate issues?

I've been handling my Mom's finances (at her request) since the death of my Dad a number of years ago. After the recent death of a close friend, my Mom starting asking questions about wills and estates. To be honest, that is my weakest area in personal finance. My sister and I are currently estrang...
by Freetime76
Thu Aug 27, 2020 4:27 am
Forum: Personal Consumer Issues
Topic: Who is your favorite fiction author and what is your favorite book of theirs?
Replies: 161
Views: 9597

Re: Who is your favorite fiction author and what is your favorite book of theirs?

Used to be David Brin’s Earth, for decades. :shock: :shock: Until I read Seveneves (Neal Stephenson) this summer. Wow. The first half of the book, especially. Blown away, and I don’t like short books or cookie cutter fiction. Both share a theme of the earth being renewed by near extinction of the hu...
by Freetime76
Wed Aug 26, 2020 8:28 pm
Forum: Personal Consumer Issues
Topic: Thoughts on Tennessee
Replies: 116
Views: 13389

Re: Thoughts on Tennessee

My mom retired to Sevier County TN - about 45 min south of Knoxville- from MD nearly 15 years ago. Her favorite things that she will happily tell anyone who asks: 1. Dollywood and Dolly Parton tied with the Smokey Mountains. 2. Cheap living (high sales tax doesn’t affect her because she’s not buying...
by Freetime76
Wed Aug 26, 2020 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 22348

Re: Quit corporate job @ age 34 with $1.3M?

I'm really envious of all these hard working underfunded guys retiring early while their wives work on... LOL - my first thought was, no way in my household am I working to ensure security while DH isn’t bustling his butt at a job. Wife-FIRE isn’t gonna happen over here... 8-) My second thought was...
by Freetime76
Fri Aug 21, 2020 5:55 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 39318

Re: The axe falls and I am prepared. What's next?

Folks, Just for educational purposes, additional dramas continue 1) The end date postponed by a week. 2) My existing project/customer is trying to see whether they have a job for me and I can transfer to their department. I could not take the previous job because it involves relocation. 3) The old ...
by Freetime76
Tue Aug 18, 2020 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: What happens to mortgage when parent passes away?
Replies: 4
Views: 1671

Re: What happens to mortgage when parent passes away?

You have the reference, above (for the US). You kids can assume the mortgage, meaning keep paying and the lending bank can’t call a mortgage loan due or make you qualify or refinance. The only thing that would trump this protection is if your mom’s debts require the sale of the house as an asset or ...
by Freetime76
Mon Aug 10, 2020 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Starting divorce process - how to succeed financially?
Replies: 79
Views: 10293

Re: Starting divorce process - how to succeed financially?

Given the nature of this person, as you characterized him, I would strongly suggest: 1. Complete your divorce first. As in, the decree is signed, all finances are split, you know where you stand money-wise. 2. Learn to live by yourself (again, as the grown up you :happy). Meaning home life, budget, ...
by Freetime76
Thu Aug 06, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Family member making poor choices
Replies: 18
Views: 2934

Re: Family member making poor choices

So, not sure you can have any say. Any thoughts on why they’re buying the house this way? I have a sweetie friend. Her name was on the mortgage and ex-husband was on the deed with her (his credit was crummy, sketchy work history). Unfortunately, her name was on the loan long after a nasty divorce, a...
by Freetime76
Sat Aug 01, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Unmotivated daughter and son in law.
Replies: 115
Views: 9659

Re: Unmotivated daughter and son in law.

I feel it is unfair to reward an unmotivated kid, while doing nothing for your other kids that have made good decisions. Have you thought of how your other kids feel about this? Yes, I have. I have a lifelong policy of equal financial treatment of my kids, even to the ridiculousness of giving equal...
by Freetime76
Sat Aug 01, 2020 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Dealing with deceased BIL estate?
Replies: 22
Views: 2106

Re: Dealing with deceased BIL estate?

I am sorry for your loss. It depends on how much of a hard line your spouse wants to take. This is very new, not months old, and unexpected. None of the individuals must pay the debts or the property tax. The estate owes this money now, and the property tax is just one of the many expenses the estat...
by Freetime76
Sat Aug 01, 2020 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Helping my mother financially (CCs and housing)
Replies: 21
Views: 2084

Re: Helping my mother financially (CCs and housing)

A question: How long have you had your 300K income? I am thinking there is a nice possibility for you to be a safety net for your mom (behind the scenes) without stepping in to “fix” everything. As in, keep some cash and shore up your own finances - which is why I’m asking how long you’ve had your f...
by Freetime76
Wed Jul 29, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: [First time home buyer - listing agent "made a mistake"]
Replies: 11
Views: 1086

Re: [First time home buyer - listing agent "made a mistake"]

So, what’s the verdict? Did you retract your offer or let it ride and still are waiting? The first offer/first buy was really stressful for me. I was super-anxious...will they accept? Will they counter? What did others offer, if anybody else even makes an offer :happy ...after a while I got jaded, a...
by Freetime76
Mon Jul 27, 2020 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Talking to my widowed Mom about money
Replies: 34
Views: 2990

Re: Talking to my widowed Mom about money

Thanks for the financial advice. I agree and I am steering her that way. She has been doing Roth conversions up to the top of the 24%/28% bracket for years. Her pension and SS cover all her expenses. She and my Father have been all in with Tech stock funds since the 1980s 0% bonds. Her accounts jus...
by Freetime76
Mon Jul 27, 2020 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Talking to my widowed Mom about money
Replies: 34
Views: 2990

Re: Talking to my widowed Mom about money

Hi OP: I am very sorry for your loss. ...sometimes you get what you need, not what you want. I think there’s a song about that, actually. :D This forum is really helpful that way, though it can be hard to hear. So, let’s run this out a bit further: You could alert her to the 10 year rule, as an FYI,...
by Freetime76
Fri Jul 24, 2020 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and cons of buying a big house
Replies: 60
Views: 5209

Re: Pros and cons of buying a big house

We just downsized to about half the size of house, so perhaps it is a reverse experiment? We are not retirement age. We have family visit several times per year for a week or weekend, potentially. We entertain informally only, with family or close friends and they’ll expect fun, good food, drinks, a...
by Freetime76
Tue Jul 21, 2020 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Crisis: Advice needed
Replies: 90
Views: 8076

Re: Financial Crisis: Advice needed

Hi OP: Are they asking for advice? Or financial help? If I understood correctly, it sounds like they’ve *been* paying down debt, which implies living below their means to throw money at the debts. So. Are you coming in late to the party seeing that debt G and debt H are large and present...but misse...
by Freetime76
Sun Jul 19, 2020 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Selling and downsizing/renting vs aging in place
Replies: 18
Views: 1797

Re: Selling and downsizing/renting vs aging in place

Hi OP: both of them choosing to move is much better than one having to do it by oneself at an older age. So, two positives there. It doesn’t have to be “ today”, yet does deserve considering. 1. If their home is the only real asset, ask them to plan ahead for the equity (if/when they do sell). Right...
by Freetime76
Sun Jul 19, 2020 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Tired Lawyer, Need career and life advice
Replies: 106
Views: 13905

Re: Tired Lawyer, Need career and life advice

I am not a lawyer but I am curious to know what is so stressful about a 40 hour a week job as a corporate lawyer compared to some other corporate job like a senior accountant. It seems like with either type of job there would be responsibility and deadlines but a lot the posts seemed to be sympathe...
by Freetime76
Sun Jul 19, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Tired Lawyer, Need career and life advice
Replies: 106
Views: 13905

Re: Tired Lawyer, Need career and life advice

Is the question whether you have enough to quit working? If so, the answer is yes. With a $3.5MM net worth, this isn’t a “maybe” situation. It’s easy - do whatever you want. Money is not a concern. I agree. I think the really interesting question is why the OP doesn't retire even though he clearly ...
by Freetime76
Sat Jul 18, 2020 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Mom Has $2K Net Worth at 62 - Want to Help
Replies: 120
Views: 11300

Re: Mom Has $2K Net Worth at 62 - Want to Help

Did your mom ask you to take over her finances? Unless she did, you are way out of line telling her what to do with her house or her money. I've heard this before and understand the sentiment, but the OP is likely to be on the hook financially if the mother's finances go off the rails. So saying th...