Search found 1976 matches

by Abe
Sat Oct 19, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Homebuyer wants me to do a 1031 exchange. Um, what?
Replies: 56
Views: 4442

Re: Homebuyer wants me to do a 1031 exchange. Um, what?

fredflinstone: A 1031 exchange is a way for investors to sell a property and buy another property (in this case, your house) and they can carry over their basis in the property they are selling to the property they are buying. It is perfectly legal and investors use this all the time. As long as eve...
by Abe
Thu Oct 17, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Closing a CD with Huntington Bank.
Replies: 10
Views: 828

Re: Closing a CD with Huntington Bank.

When a CD matures at a local bank, my experience has been that I can call them on the phone with instructions to renew the CD at a new negotiated rate or close the CD and I will either pick up the check or they will mail it to me. If I don't do anything after the 10 day grace period, the bank will a...
by Abe
Wed Oct 09, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know anything about California Bank and Trust?
Replies: 17
Views: 1069

Re: Anyone know anything about California Bank and Trust?

Gosh, this whole episode is very scary. Abe, did you find the fake site thru googling? Yes, I was researching CD rates on Google and found this one: California Bank and Trust. Their rates were much higher than the ones I found on Bankrate.com. I just opened a 1 year CD at Ally Bank at 2.25% with 60...
by Abe
Tue Oct 08, 2019 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone know anything about California Bank and Trust?
Replies: 17
Views: 1069

Re: Anyone know anything about California Bank and Trust?

Okay, thanks everyone for the information.
by Abe
Tue Oct 08, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know anything about California Bank and Trust?
Replies: 17
Views: 1069

Re: Anyone know anything about California Bank and Trust?

I'm interested in their 12 month Super Jumbo, No Penalty, No Fees, $1,000,000 CD paying 3.35% APR, 3.40 APY. Does anyone know if we can get FDIC Insurance covering that amount? It's just the wife and me.
by Abe
Tue Oct 08, 2019 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Anyone know anything about California Bank and Trust?
Replies: 17
Views: 1069

Anyone know anything about California Bank and Trust?

I was Googling CD rates and found California Bank and Trust, but I don't know anything about them. Their CD rates are above average and they say are FDIC insured. Here is a link to their CD rates. https://www.californiabandt.com.scam/ rates as of October 8, 2019 This is their current 12 Months CD ra...
by Abe
Thu Oct 03, 2019 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone had difficulty switching from Medicare Advantage to Original Medicare?
Replies: 3
Views: 599

Re: Has anyone had difficulty switching from Medicare Advantage to Original Medicare?

I switched from Medicare Advantage to regular Medicare and I got a supplemental plan from Blue Cross Blue Shield. When my wife tried to switch, Blue cross would not insure her with a supplemental plan. Later Blue Cross discontinued the Advantage plan and she was able to get the supplemental plan at ...
by Abe
Tue Sep 24, 2019 10:04 am
Forum: Personal Consumer Issues
Topic: A 'really good book' you did NOT enjoy
Replies: 262
Views: 21206

Re: A 'really good book' you did NOT enjoy

JonnyDVM wrote:
Sat Sep 06, 2014 11:31 am
A story I have NEVER enjoyed in any capacity is The Great Gatsby
I second that...
by Abe
Mon Sep 23, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Quiz: How Well Do You Know Social Security
Replies: 37
Views: 3340

Re: Quiz: How Well Do You Know Social Security

I didn't take the test. If I need answers I can google it or ask on the Bogleheads. :happy
by Abe
Tue Sep 17, 2019 10:04 am
Forum: Investing - Theory, News & General
Topic: Don't confuse strategy with outcome:
Replies: 94
Views: 5677

Re: Don't confuse strategy with outcome:

Strategy Vs. Outcome

By: Frank Armstrong, CFP, AIF

I think this essay explains it very well...

https://investorsolutions.com/2012/09/1 ... outcome-2/
by Abe
Thu Sep 12, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: How many years for each $250k of net worth?
Replies: 36
Views: 6110

Re: How many years for each $250k of net worth?

This is something that can't be predicted with any degree of accuracy. Too many variables.
by Abe
Fri Sep 06, 2019 12:55 pm
Forum: Personal Consumer Issues
Topic: Did I commit a tipping faux pas?
Replies: 99
Views: 11045

Re: Did I commit a tipping faux pas?

Why are you concerned about a tip? Doesn't the moving company pay its workers?
by Abe
Fri Sep 06, 2019 11:28 am
Forum: Personal Consumer Issues
Topic: Mensa membership
Replies: 90
Views: 7107

Re: Mensa membership

I know my IQ is not high enough to pass the test, so I don't have any experience. Having said that, it seems to me that it would be like telling someone who lives paycheck to paycheck that you have a few million in the bank. They are not going to like it very much. Most people are not going to like ...
by Abe
Wed Sep 04, 2019 1:45 pm
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 3859

Re: Pre-paid Funeral Expenses

You can go to the link below and read the brochure "Should You Prepay Your Funeral" at the Funeral Consumers Alliance website. In addition to prepaying for a funeral, they also have a lot more information regarding funerals. They do not recommend prepaying for a funeral. https://funerals.org/?consum...
by Abe
Tue Aug 27, 2019 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off 0% car loan early
Replies: 52
Views: 2585

Re: Paying off 0% car loan early

I’m in the same situation. Next time I get a car, I’ll probably take the cash back deal instead. I.e., when I got the loan, I had a choice of getting an extra $1000 (might have been $1500) off the car or to get the 0% loan. Next time I’ll take the cash Yes, the OP probably had a similar offer. If s...
by Abe
Tue Aug 27, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off 0% car loan early
Replies: 52
Views: 2585

Re: Paying off 0% car loan early

I would avoid paying back zero percent money as long as possible.
by Abe
Wed Aug 21, 2019 10:22 am
Forum: Investing - Theory, News & General
Topic: 60/40 VS 30/70 "Center Of Gravity"@@ Allocation for Retirees ??? Bernstein VS Ferri ?? -- What Would You Do?
Replies: 189
Views: 19406

Re: 60/40 VS 30/70 "Center Of Gravity"@@ Allocation for Retirees ??? Bernstein VS Ferri ?? -- What Would You Do?

Here is a link to Vanguard portfolio allocation models which may be helpful. It shows historical risk/returns at various asset allocations. I didn't read all the post, so not sure if someone may have already posted a link to this. https://personal.vanguard.com/us/insights/saving-investing/model-port...
by Abe
Mon Aug 12, 2019 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: I really do not like using credit cards. Do any of you have a good credit score with no credit cards?
Replies: 247
Views: 6438

Re: Does anyone here have no credit cards? How is that working out for you? Do you have any trouble without them?

There have been lots of gas station skimmers found in my area. One woman on TV claims to have had her bank account completely drained and claims the bank did not believe her when she claimed fraud. After several weeks she straightened it out and got her money back. Had she used a credit card at the...
by Abe
Sat Aug 10, 2019 10:00 am
Forum: Investing - Theory, News & General
Topic: Why do dividends still exist?
Replies: 204
Views: 12014

Re: Why do dividends still exist?

My question is: What would happen if dividends did not exist?
by Abe
Fri Aug 09, 2019 11:27 am
Forum: Personal Investments
Topic: 1031 exchange question
Replies: 3
Views: 365

Re: 1031 exchange question

I think you can sell a single family rental home and buy farmland using a 1031 exchange.

https://ttlc.intuit.com/community/inves ... /00/498058
by Abe
Tue Aug 06, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: high yield savings vs. no penalty CDs
Replies: 28
Views: 2611

Re: high yield savings vs. no penalty CDs

With a no penalty CD, you get to lock in the rate for the term of the CD which is good if interest rates go down, but you can close it at any time without penalty if rates go up and invest at the higher rate. With the high yield savings account, you don't get the benefit of locking in the rate if in...
by Abe
Tue Aug 06, 2019 11:46 am
Forum: Personal Consumer Issues
Topic: Pocket protector recommendations
Replies: 21
Views: 2345

Re: Pocket protector recommendations

I used to get em free with advertising on em. :happy
by Abe
Sat Aug 03, 2019 5:27 pm
Forum: Personal Consumer Issues
Topic: Ink Pens
Replies: 77
Views: 4836

Re: Ink Pens

You can get a Pilot Metropolitan fountain pen on eBay for 15 or 20 bucks. It's not bad for a cheap pen.

https://www.ebay.com/sch/i.html?_from=R ... n&_sacat=0
by Abe
Sat Aug 03, 2019 12:39 pm
Forum: Investing - Theory, News & General
Topic: Financial Calculator
Replies: 12
Views: 1233

Re: Financial Calculator

I'm a financial planner and use an HP10bII+. I think it's great and easy to use (I use it daily). That said, I don't think it matters so much which financial calculator you use as long as you get enough experience with using it to know how to do so quickly and accurately. Yes, I agree. I started ou...
by Abe
Sat Aug 03, 2019 11:46 am
Forum: Investing - Theory, News & General
Topic: Financial Calculator
Replies: 12
Views: 1233

Re: Financial Calculator

I like the Texas Instrument BAll Plus financial calculator.

https://www.amazon.com/s?k=texas+instru ... nb_sb_noss

I understand the HP 10bII+ Financial Calculator is also good.

https://www.amazon.com/HP-10bII-Financi ... B0002ABA8E
by Abe
Thu Aug 01, 2019 4:22 pm
Forum: Personal Investments
Topic: How do I extend a first mortgage?
Replies: 8
Views: 688

Re: How do I extend a first mortgage?

I don't think your mortgage expires. If you don't release it, it remains on the record. I don't think your note expires either unless it is paid in full. Most notes say something like this: Borrower agrees to pay X dollars per period (month/year) at X% interest rate until principal amount is paid i...
by Abe
Thu Aug 01, 2019 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Two Mortgages or One?
Replies: 7
Views: 829

Re: Two Mortgages or One?

Sounds good to me. I've always tried to get as many houses free and clear as possible.
by Abe
Thu Aug 01, 2019 1:43 pm
Forum: Personal Consumer Issues
Topic: Tree trimming success story with neighbor
Replies: 3
Views: 972

Re: Tree trimming success story with neighbor

I think you got a good deal. :happy
by Abe
Wed Jul 31, 2019 5:16 pm
Forum: Personal Investments
Topic: How do I extend a first mortgage?
Replies: 8
Views: 688

Re: How do I extend a first mortgage?

I don't think your mortgage expires. If you don't release it, it remains on the record. I don't think your note expires either unless it is paid in full. Most notes say something like this: Borrower agrees to pay X dollars per period (month/year) at X% interest rate until principal amount is paid in...
by Abe
Wed Jul 31, 2019 4:41 pm
Forum: Personal Investments
Topic: How do I extend a first mortgage?
Replies: 8
Views: 688

Re: How do I extend a first mortgage?

I don't think you need to do anything. If your mortgage is a first mortgage, it will remain in that first mortgage position on the record. If any mortgages are recorded later than yours, they will be inferior to yours, in other words they will be 2nd or 3rd position mortgages, etc.
by Abe
Wed Jul 31, 2019 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: What should I do about my father's stock market speculation/gambling problem?
Replies: 22
Views: 2589

Re: What should I do about my father's stock market speculation/gambling problem?

I like the idea of some sort of annuity. Let him keep some token amount that he can gamble away (maybe $10k to $25k) and put the rest in a annuity. Tell him if he finds a new fool proof gambling/speculation scheme that $10k-$25k is more than enough to take advantage of his newfound knowledge. An an...
by Abe
Tue Jul 23, 2019 10:06 am
Forum: Non-US Investing
Topic: Is it at all possible to time the Market? [UK]
Replies: 19
Views: 997

Re: Is it at all possible to time the Market? [UK]

It is generally accepted here that no one can successfully time the market, so the answer to your question is that you shouldn't try. Just keep on doing what you are doing, investing in the S&P 500 with no withdrawals.
by Abe
Mon Jul 22, 2019 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: When family members fight over the check when out to eat
Replies: 103
Views: 8356

Re: When family members fight over the check when out to eat

Broken Man 1999 wrote:
Mon Jul 22, 2019 1:46 pm
ETA: Nice explanation for "alligator arms" on youtube!

https://www.youtube.com/watch?v=R8Olyg6Pg3g
I've been out with people like the alligator. Just before the waiter brings the check, they get up and go to the bathroom and stay long enough for someone else to pay the bill.
by Abe
Mon Jul 22, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: When family members fight over the check when out to eat
Replies: 103
Views: 8356

Re: When family members fight over the check when out to eat

When eating out, our family always each paid their own individual bill. I remember one time we were eating at a cafeteria and my single female cousin was right behind me at the check out. I told the checker to put my cousins bill on with mine. My cousin thanked me but she said she would rather pay f...
by Abe
Sun Jul 21, 2019 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Explaining the magic of compound interest to teenagers
Replies: 107
Views: 6121

Re: Explaining the magic of compound interest to teenagers

I can think of no simpler, more effective lesson to the power of compound interest than the 'would you rather have a million dollars today or a penny doubled every day for a month? question. Stole the words out of my mouth. Pretty telling. With some good visuals it would be highly effective to a cl...
by Abe
Sat Jul 20, 2019 1:29 pm
Forum: Personal Investments
Topic: Just sat through a wealth-management sales pitch.
Replies: 96
Views: 10245

Re: Just sat through a wealth-management sales pitch.

WOW.. while I understand that members of this board generally don't see value in the financial services industry, the level of disdain is somewhat surprising. I am sure you could make similar claims to almost any group of professionals. Petroleum engineers -- those people are helping destroy the Ea...
by Abe
Thu Jul 18, 2019 2:42 pm
Forum: Personal Investments
Topic: Just sat through a wealth-management sales pitch.
Replies: 96
Views: 10245

Re: Just sat through a wealth-management sales pitch.

+1 I was asked for a friends teenager's summer job to come over so he could "practice" his sales pitch of over priced knives. I reluctantly agreed after it was stressed repeatedly that I wasn't going to be asked to buy... "Not really". The exercise was to express misgivings so he could "practice". ...
by Abe
Thu Jul 18, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Why Personal Finance is not taught in Schools in the US
Replies: 59
Views: 3018

Re: Why Personal Finance is not taught in Schools in the US

Why they choose to teach students Algebra and Geometry over Personal Finance is a huge question mark. 100% of students MUST be knowledgeable in personal finance, while an extremely small % will ever be forced to know Algebra or Geometry in their daily lives!! Algebra is needed to understand concept...
by Abe
Thu Jul 18, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Why Personal Finance is not taught in Schools in the US
Replies: 59
Views: 3018

Re: Why Personal Finance is not taught in Schools in the US

In school you get the lesson first and then you get the test. In life you get the test first and then you get the lesson. In many cases I think this applies to personal finance lessons taught in school. It doesn't really sink in in school, but when you get out in the real world and end up deeply in ...
by Abe
Thu Jul 18, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Explaining the magic of compound interest to teenagers
Replies: 107
Views: 6121

Re: Explaining the magic of compound interest to teenagers

When I first started saving and investing, I would occasionally calculate my net worth. I remember there was a point where I became aware that my net worth was higher than I though it should be. I finally realized that it was because of the compounding. At the time I understood the concept of compou...
by Abe
Thu Jul 11, 2019 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: anyone here use BillPay?
Replies: 22
Views: 1320

Re: anyone here use BillPay?

I always paid my bills by check and it worked good for me even with 10 rental properties. I recently started using Billpay to pay my bills. That was a big mistake. One of the bills I paid with Billpay was a phone bill to ATT; however, Att said they they didn't get it. It took me about 3 months to g...
by Abe
Thu Jul 11, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: anyone here use BillPay?
Replies: 22
Views: 1320

Re: anyone here use BillPay?

I always paid my bills by check and it worked good for me even with 10 rental properties. I recently started using Billpay to pay my bills. That was a big mistake. One of the bills I paid with Billpay was a phone bill to ATT; however, Att said they they didn't get it. It took me about 3 months to ge...
by Abe
Wed Jul 10, 2019 12:59 pm
Forum: Personal Consumer Issues
Topic: Who cuts your hair? And for how much?
Replies: 153
Views: 9542

Re: Who cuts your hair? And for how much?

I go to a 2 man old fashioned barber shop. I pay $12 for a haircut, no tip. When I was growing up in a small town in the south, I don't remember people tipping barbers. If they did, I didn't know it.
by Abe
Wed Jul 03, 2019 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Lengthy notices from all our credit cards?
Replies: 16
Views: 1891

Re: Lengthy notices from all our credit cards?

I recently received something like that from Citi double cash card. Something about a new "flex plan". I think it was for people who carry over a balance and it allowed you to pay out over several months. I think it said they give you 23 days before interest is charged. I was thinking we used to get...
by Abe
Wed Jul 03, 2019 11:19 am
Forum: Investing - Theory, News & General
Topic: Hitting Critical Mass and then dealing with those feelings of Surreal
Replies: 51
Views: 6724

Re: Hitting Critical Mass and then dealing with those feelings of Surreal

To the OP. When you spend you entire life scrimping and saving, it's hard to break that habit. I know because I've got the same problem. When I was young, I remember seeing people who had more than I ever dreamed of having, yet they lived a frugal lifestyle. I remember thinking, "if I had that much ...
by Abe
Fri Jun 28, 2019 1:33 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 941
Views: 126588

Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

Congratulations. I remember my first $100k. It seems like a long time ago in a galaxy far, far away.
by Abe
Wed Jun 26, 2019 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 619
Views: 60269

Re: Why are you NOT buying rental properties?

There seems to be a perception by some people here that owning rental properties is equivalent to having a second job. I own and self manage several rental properties (single family houses) and that has not been my experience. Yes, it does take more time to manage these properties than managing a po...
by Abe
Mon Jun 24, 2019 12:58 pm
Forum: Investing - Theory, News & General
Topic: Dollar General
Replies: 26
Views: 2588

Re: Dollar General

Don't know much about their stock, but we shop there some. Their prices are competive and we like there $5 off on $25 purchases on Saturdays.
by Abe
Sat Jun 22, 2019 1:00 pm
Forum: Personal Consumer Issues
Topic: Do you Casino? What do you play? Have you won?
Replies: 82
Views: 5380

Re: Do you Casino? What do you play? Have you won?

I know a lady who I never thought would set foot in a casino, a real strait-laced church going lady. One day she told me she was down in the dumps, so she decided to go the the casino thinking it might pep her up. She said she took $100 dollars and planned to be there about half a day. The casino ha...