Search found 48 matches

by just_cruisin
Sun Jan 10, 2021 2:07 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 25360

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Mow lawn, trim hedges, dig and set posts, etc.

But I’m only at 1.5, do I count?
by just_cruisin
Sun Jan 10, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Pull Money (Equity) Out of Rental Properties?
Replies: 39
Views: 2912

Re: Should I Pull Money (Equity) Out of Rental Properties?

I just paid off my rentals.

We should meet up in 20 years and compare notes.
by just_cruisin
Sun Jan 10, 2021 1:25 pm
Forum: Personal Investments
Topic: S Corp Salary vs Distribution?
Replies: 3
Views: 434

Re: S Corp Salary vs Distribution?

Anyone have recommendations for a beginner to learn about S Corps?

Books, blogs, etc?

Thanks
by just_cruisin
Sun Jan 10, 2021 11:56 am
Forum: Personal Investments
Topic: Please advise doc who wants to retire early
Replies: 103
Views: 8623

Re: Please advise doc who wants to retire early

If you haven't already, I recommend visiting The White Coat Investor site. The owner of that site posts here too. He is well regarded here. When I used to supervise medical students, I gave them copies of his book. Here's the link to the site: https://www.whitecoatinvestor.com/ I logged on to the s...
by just_cruisin
Sun Jan 10, 2021 11:46 am
Forum: Personal Investments
Topic: How much do you allocate to international equity?
Replies: 133
Views: 9091

Re: How much do you allocate to international equity?

Stef wrote: Tue Oct 20, 2020 5:54 am Do you know that there are more threads about this topic on Bogleheads than the total amount of international stocks that you can invest in?
I thought I was clicking “like” on your post but I think I inadvertently reported it.

Sorry, I thought it was really clever.
by just_cruisin
Sun Jan 10, 2021 11:39 am
Forum: Personal Consumer Issues
Topic: Rent recently mortgaged house
Replies: 10
Views: 983

Re: Rent recently mortgaged house

Thanks all for your responses and warm welcome! You were honest when you signed the closing documents. Afterwards, your situation changed. I would consult an attorney. Where should I start, in looking for an attorney? Since every state has different laws you would need to consult a real estate focu...
by just_cruisin
Sat Dec 26, 2020 1:57 pm
Forum: Personal Consumer Issues
Topic: Rent recently mortgaged house
Replies: 10
Views: 983

Re: Rent recently mortgaged house

You were honest when you signed the closing documents. Afterwards, your situation changed.

I would consult an attorney.
by just_cruisin
Sat Dec 26, 2020 9:41 am
Forum: Investing - Theory, News & General
Topic: Asset Location - Deep Dive
Replies: 63
Views: 4231

Re: Asset Location - Deep Dive

geerhardusvos wrote: Thu Dec 24, 2020 6:23 pm Wait y’all still have bonds? 😉😁
Ha! I was wondering the same thing.
by just_cruisin
Fri Dec 25, 2020 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

things to consider in regard to paying off mortgage - if you are not going to invest the money that you plan to use to pay off the mortgage, then yes it's financially prudent to pay off the mortgage - but if your mortgage rate is low and the money that you plan to use to pay off the mortgage can be...
by just_cruisin
Fri Dec 25, 2020 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

things to consider in regard to paying off mortgage - if you are not going to invest the money that you plan to use to pay off the mortgage, then yes it's financially prudent to pay off the mortgage - but if your mortgage rate is low and the money that you plan to use to pay off the mortgage can be...
by just_cruisin
Fri Dec 25, 2020 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Pay Off Our Mortgage or Invest Heavily?
Replies: 51
Views: 5479

Re: Pay Off Our Mortgage or Invest Heavily?

Paying the 150k against the 510k debt will just deplete your cash reserves and not lower your payments. You will end up paying off the mortgage a few years sooner, but that is many years down the road in both scenarios. I just paid off a mortgage myself and it feels great, but it’s simpler to do it ...
by just_cruisin
Fri Dec 25, 2020 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

Finished paying off the mortgage and calculated my savings from NOT paying any more interest ~ $65,000.

Your mortgage balance is larger so you will probably save more, I would guess it will be around $100,000 if you pull the trigger.

Good luck and happy holidays!
by just_cruisin
Thu Dec 24, 2020 11:28 pm
Forum: Personal Consumer Issues
Topic: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?
Replies: 167
Views: 15693

Re: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?

We left our adult dogs at home for years while working an hour away. Mid-day bathroom breaks would have been impossible. Wife left the house an hour or so after I did, and I got home between 8-12 hours later. Unless someone was sick, we didn't have problems. This was 4 days a week. Have you tried l...
by just_cruisin
Thu Dec 24, 2020 10:43 pm
Forum: Personal Consumer Issues
Topic: 6 years to college degree?????
Replies: 139
Views: 8234

Re: 6 years to college degree?????

If one is taking more than four years, one just is not motivated enough, or one is attending a school beyond their financial means. My wife and I both finished out top-tier state schools in four years, with both of us working our way through. I didn't see my peers staying more than four years as un...
by just_cruisin
Thu Dec 24, 2020 10:13 pm
Forum: Personal Consumer Issues
Topic: Free powerwall worth it?
Replies: 46
Views: 6605

Re: Free powerwall worth it?

How would this work if there were no “free” hardware, or installation, etc?

How much would it cost? Would you pay the money yourself?
by just_cruisin
Thu Dec 24, 2020 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: new mortgage on fully paid off house
Replies: 8
Views: 1127

Re: new mortgage on fully paid off house

If you're able to fully pay off the house with cash, I'd suggest a HELOC for greater flexibility and potentially even more favorable rates if you can use a credit union or somewhere that has Prime minus a margin (I have prime minus 1.00%). I usually think refinances are not as favorable rate-wise, ...
by just_cruisin
Thu Dec 24, 2020 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage using 401K money(early withdrawal)
Replies: 8
Views: 741

Re: Paying off mortgage using 401K money(early withdrawal)

Just did this, but didn’t have to pay the 10% penalty because it was a Covid distribution.

Great feeling not to have to pay that mortgage (especially the interest) for the 20 something years that were left on it.
by just_cruisin
Thu Dec 24, 2020 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Purchased 2nd home but could not rent due to Covid19
Replies: 6
Views: 1300

Re: Purchased 2nd home but could not rent due to Covid19

When did you first list or advertise the home as available for rent?
by just_cruisin
Thu Dec 24, 2020 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Hunting Land
Replies: 102
Views: 8189

Re: Purchasing Hunting Land

Property taxes are only $296/year. It is also only 40mins away - which would be super convenient to go hunt a morning or night whenever we wanted on a whim... Go for it! You have already avoided the biggest mistake which is purchasing land with high taxes or worse yet, not knowing what the taxes are.
by just_cruisin
Thu Dec 24, 2020 2:09 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin, Ethereum and Crypto: Educational Thread
Replies: 216
Views: 15690

Re: Bitcoin, Ethereum and Crypto: Educational Thread

So if I’m interested in a speculative purchase of say $1,000 of Bitcoin what are my options?

If I trust exchanges it would be Coinbase or PayPal or what?

If I absolutely must have a hardware wallet it would Ledger Nano or what?

Thanks
by just_cruisin
Thu Dec 24, 2020 10:36 am
Forum: Personal Investments
Topic: Intelligent, Powerful, and Stress-Relieving Ways to Save for Child's College?
Replies: 27
Views: 1655

Re: Intelligent, Powerful, and Stress-Relieving Ways to Save for Child's College?

Congratulations!

Not to derail the thread, but can anyone advise on using a Roth IRA for a child to fund educational expenses instead of a 529?
by just_cruisin
Tue Nov 24, 2020 9:57 pm
Forum: Investing - Theory, News & General
Topic: What are some good boglehead principles around real estate?
Replies: 52
Views: 5645

Re: What are some good boglehead principles around real estate?

Summary of what I have seen most frequently mentioned 1. Do not buy real estate, unless you like fixing toilet on Christmas night at 2 AM 2. Read 1 again and do not buy real estate 1. I’ve owned real estate rentals for two decades and never fixed a toilet. 2. For two decades, renters have been payi...
by just_cruisin
Tue Nov 24, 2020 5:21 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 661
Views: 94132

Re: Flaunt Your High-Mileage Car

1997 Jeep Cheorkee 200k
2004 Chevy Suburban 227k
2004 Chevy Silverado 249k
by just_cruisin
Mon Nov 23, 2020 6:40 pm
Forum: Personal Consumer Issues
Topic: Who bought an iPhone 12 Mini, and what do you think?
Replies: 47
Views: 5542

Re: Who bought an iPhone 12 Mini, and what do you think?

Yes, people like me who just want a device, and most people in the world whom ATT/Verizon/Tmobile dont subsidize. Trade-in values for device X is the same whether traded in for an iPhone mini or a pro, so MSRP is still the best basis for price comparison. The difference between models is $300. And ...
by just_cruisin
Mon Nov 23, 2020 6:37 pm
Forum: Personal Investments
Topic: Continue Maxing Retirement or Buy a House? (Military)
Replies: 23
Views: 1671

Re: Continue Maxing Retirement or Buy a House? (Military)

My questions are: 1. Do I cut back on retirement contributions? I contribute about 30% of my take home pay. 2. If I do cut back, which account? The TSP matches 5% so I need to put at least $3,500 to get the full match. Is there any benefit to continuing to contribute to the Roth IRA since its both ...
by just_cruisin
Mon Nov 23, 2020 1:11 pm
Forum: Investing - Theory, News & General
Topic: Question About AA and Diversification
Replies: 14
Views: 694

Re: Question About AA and Diversification

Hi everyone, Something's not quite clicking with me and I'm hoping people can help clarify: For the sake of true diversification, why not include REITS, gold, commodities, currencies, etc. in a portfolio? A lot of the arguments I've heard against including these have to do with historical performan...
by just_cruisin
Sun Nov 22, 2020 9:41 pm
Forum: Personal Investments
Topic: Continue Maxing Retirement or Buy a House? (Military)
Replies: 23
Views: 1671

Re: Continue Maxing Retirement or Buy a House? (Military)

My questions are: 1. Do I cut back on retirement contributions? I contribute about 30% of my take home pay. 2. If I do cut back, which account? The TSP matches 5% so I need to put at least $3,500 to get the full match. Is there any benefit to continuing to contribute to the Roth IRA since its both ...
by just_cruisin
Sun Nov 22, 2020 5:19 pm
Forum: Personal Consumer Issues
Topic: Who bought an iPhone 12 Mini, and what do you think?
Replies: 47
Views: 5542

Re: Who bought an iPhone 12 Mini, and what do you think?

Not sure why you are quoting retail price, is anyone actually paying that? I got a SE2 for half off. I know there are trade in deals for the 12 mini which come out to $0. Yes, people like me who just want a device, and most people in the world whom ATT/Verizon/Tmobile dont subsidize. Trade-in value...
by just_cruisin
Sun Nov 22, 2020 4:30 pm
Forum: Personal Consumer Issues
Topic: Who bought an iPhone 12 Mini, and what do you think?
Replies: 47
Views: 5542

Re: Who bought an iPhone 12 Mini, and what do you think?

Not sure why you are quoting retail price, is anyone actually paying that? I got a SE2 for half off. I know there are trade in deals for the 12 mini which come out to $0. Yes, people like me who just want a device, and most people in the world whom ATT/Verizon/Tmobile dont subsidize. Trade-in value...
by just_cruisin
Sat Nov 21, 2020 7:45 am
Forum: Personal Consumer Issues
Topic: Who bought an iPhone 12 Mini, and what do you think?
Replies: 47
Views: 5542

Re: Who bought an iPhone 12 Mini, and what do you think?

You say only advatange is cost (and touch id) but that is a big advantage. You can pick up an SE for $150-250 or so if you know where to look or shell out $750 for the mini. There are some advantages but not $500 worth. And some people will like the home button and old school design. The upgrades a...
by just_cruisin
Fri Nov 20, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

Some people are just transmit only I guess....... For the rest of you out there, the “sweet spot” varies by bank but is mostly mortgage balances from $250,000 to $510,400 (upper limit of conforming loans). If you are in the sweet spot you will be offered the best rates. If your mortgage is “too sma...
by just_cruisin
Fri Nov 20, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

A lot of the people bragging about refi’s at low rates have BIG balances on their homes. The mortgage companies view them as cash cows to bleed over the next 30 years and discount their rates to lock them in. The total interest cost over the lifetime if the loan is into the 6 figures. Source: I hav...
by just_cruisin
Fri Nov 20, 2020 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

That's incorrect. The rates are generally available to everyone, but the amount of the lender credit will depend on the outstanding balance as to how much its worth to the lender to "buy" your business for the next 15 or 30 years. Obviously, the lender is going to pay less to buy a $100,0...
by just_cruisin
Fri Nov 20, 2020 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

A lot of the people bragging about refi’s at low rates have BIG balances on their homes. The mortgage companies view them as cash cows to bleed over the next 30 years and discount their rates to lock them in. The total interest cost over the lifetime if the loan is into the 6 figures. Source: I hav...
by just_cruisin
Sun Nov 15, 2020 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or not
Replies: 70
Views: 7047

Re: Pay off mortgage or not

Caution: A lot of the people bragging about refi’s at low rates have BIG balances on their homes. The mortgage companies view them as cash cows to bleed over the next 30 years and discount their rates to lock them in. The total interest cost over the lifetime if the loan is into the 6 figures. Sourc...
by just_cruisin
Thu Nov 12, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Cash Out Refi Help???
Replies: 5
Views: 431

Re: Cash Out Refi Help???

Pretty sure if you use even just a little bit of the money on the house, you will qualify.
by just_cruisin
Thu Nov 12, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay tax on Roth conversion
Replies: 40
Views: 3574

Re: How to pay tax on Roth conversion

You can pay the IRS online.

I paid them a big tax bill online when we converted a chunk of a traditional IRA to a Roth.
by just_cruisin
Wed Nov 11, 2020 10:51 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

So I called the IRS toll free number and had an eye opening experience. Call 1: spent 20 minutes on the phone with someone apparently working from home. They eventually said their computer wasn’t working and the call ended. Call 2: spent maybe 5 minutes with another person definitely working from ho...
by just_cruisin
Mon Nov 02, 2020 12:48 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

rkhusky wrote: Mon Nov 02, 2020 9:52 am Perhaps opening a new account at Schwab might get them to be more willing to help.
Good idea, but I already have some other accounts with Schwab and that didn’t help unfortunately.
by just_cruisin
Mon Nov 02, 2020 12:48 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

OP, Have you called your current custodians and asked for your "Roth basis" yet? You may be pleasantly surprised (like I was). Thanks for the tip, unfortunately Vanguard never received the Roth Basis from Schwab back when the transfer occurred. So I guess it’s back to trying to pry the in...
by just_cruisin
Mon Nov 02, 2020 9:13 am
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

OP, Have you called your current custodians and asked for your "Roth basis" yet? You may be pleasantly surprised (like I was). Thanks for the tip, unfortunately Vanguard never received the Roth Basis from Schwab back when the transfer occurred. So I guess it’s back to trying to pry the in...
by just_cruisin
Sun Nov 01, 2020 11:44 am
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

OP, Have you called your current custodians and asked for your "Roth basis" yet? You may be pleasantly surprised (like I was). I went through a similar exercise recently in order to get up to speed NOW and keep better records going forward, so that I didn't end up in a similar situation. ...
by just_cruisin
Sat Oct 31, 2020 10:04 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

Those records don’t exist anymore, otherwise I wouldn’t be going to all this trouble to reconstruct them! If you don't have the records, then you will have to just use the contribution amount that you do have records for. That is nonsensical. My personal records covering that timeframe no longer ex...
by just_cruisin
Sat Oct 31, 2020 7:39 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

Thanks for the welcome! Been lurking for a long time. I was with a different brokerage before I learned about low fees and Vanguard. I already tried the old firm and they said “how much you contributed is between you and the IRS”. You aren't getting any help from them because you are a former, not ...
by just_cruisin
Fri Oct 30, 2020 9:28 pm
Forum: Personal Consumer Issues
Topic: Economically viable to buy an airplane?
Replies: 39
Views: 4830

Re: Economically viable to buy an airplane?

Yes you are on the right track with the right idea. Problem is you are asking in the wrong forum.

Try

https://www.airlinepilotforums.com/flig ... -training/
by just_cruisin
Fri Oct 30, 2020 7:40 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Re: Withdraw Roth Contributions from Vanguard & IRS transcript questions

Thanks for the welcome! Been lurking for a long time.

I was with a different brokerage before I learned about low fees and Vanguard. I already tried the old firm and they said “how much you contributed is between you and the IRS”.
by just_cruisin
Fri Oct 30, 2020 12:07 pm
Forum: Personal Investments
Topic: Withdraw Roth Contributions from Vanguard & IRS transcript questions
Replies: 16
Views: 1121

Withdraw Roth Contributions from Vanguard & IRS transcript questions

Hello, I have some questions that I couldn’t find answered with a search: 1) Has anyone withdrawn Roth contributions from Vanguard recently.... any tips? 2) How far back does the IRS keep transcripts? My account on the IRS website only goes back to 2010 but I’ve been paying taxes since 1994. Just tr...