Search found 532 matches

by IowaFarmBoy
Mon Aug 13, 2018 10:35 am
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1737

Re: Uninsured Motorist coverage

Uninsured can can cover bodily injury, property damage or both, depending on what you have purchased. If you have uninsured property damage coverage, it will cover property damage caused by an uninsured motorist regardless of whether you carry collision coverage.
by IowaFarmBoy
Sat Aug 11, 2018 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Insuring for sewer damage in a slab home
Replies: 14
Views: 1177

Re: Insuring for sewer damage in a slab home

If you have a home with a plumbing fixture in the basement, it is lower than all other fixtures on higher floors in your house and generally will be lower than most of the fixtures in your neighbors' houses. So if there is a clog in the line between your house and the street or in the city sewer mai...
by IowaFarmBoy
Thu Aug 09, 2018 7:55 pm
Forum: Personal Consumer Issues
Topic: Uninsured Motorist coverage
Replies: 30
Views: 1737

Re: Uninsured Motorist coverage

JBTX and Smackboy have done a good job of explaining how auto insurance works. Also be aware that coverages can vary greatly from state to state. Some states offer PIP, some offer med, some offer both, etc. Also, in a few states, a liability umbrella can include uninsured motorist coverage but that ...
by IowaFarmBoy
Thu Aug 02, 2018 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Co - signed a Mortage, Now wants out
Replies: 57
Views: 6029

Re: Co - signed a Mortage, Now wants out

Twenty years ago, (in Illinois if that matters) you could get a mortgage at reasonable terms two years after the bankruptcy was finalized if you had 20% down. So a refi could be possible but rates today are probably higher. They'd need to talk to the local lenders.
by IowaFarmBoy
Mon Jul 30, 2018 5:35 pm
Forum: Personal Consumer Issues
Topic: ACT test - got 34, try for 36?
Replies: 61
Views: 5236

Re: ACT test - got 34, try for 36?

As many have said, it may not matter that much but it could make a little difference in scholarship funding, etc. I think a lot depends on your kid and what they think they can do. If the goal is to see how high he or she can score for bragging rights, they probably want to go for it. If it is simpl...
by IowaFarmBoy
Mon Jul 30, 2018 5:57 am
Forum: Personal Consumer Issues
Topic: Kitchen sink (faucet)
Replies: 10
Views: 869

Re: Kitchen sink (faucet)

Disclaimer: I've never tried this. With that disclaimer, most of the aerators I look at have a disk with a hole in the center which reduces the water flow. I assume this design also makes the pretty "waterfall" aerated effect that comes out of most faucets. I think you could try removing that disk o...
by IowaFarmBoy
Fri Jul 27, 2018 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Needed appraisal of farm land?
Replies: 18
Views: 1096

Re: Needed appraisal of farm land?

Why a waste of money at this point? I may sell it at some point. Yes, that not for sure. I could die first or give it away. Do you think appraisals will be cheaper some day? What it's worth now and what it's worth when you go to sell it years from now could be two very different numbers. Why would ...
by IowaFarmBoy
Thu Jul 26, 2018 6:21 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 9260

Re: Toughest Purchase of my Life. Engagement Ring time

If it makes her happy, it is not a "complete waste of money." Just make sure it is what she wants and that you can afford it. DW was happy getting her grandmother's stone put into a new setting for $260 (including wedding band) back in 1979. She probably wouldn't have married me if I had spent more....
by IowaFarmBoy
Wed Jul 25, 2018 5:10 am
Forum: Investing - Help with Personal Investments
Topic: Investing with a Developer
Replies: 48
Views: 3545

Re: Investing with a Developer

Building spec houses is incredibly risky. I was a spec builder about 30 years ago in North Texas and things were going great until they weren't. Woke up one day (aftermath from the S&L crisis) and nothing was selling and what was selling had dropped 30% in price. I had 10 houses financed and ended u...
by IowaFarmBoy
Tue Jul 24, 2018 4:51 am
Forum: Personal Consumer Issues
Topic: [Options for installing a Radon mitigation system]
Replies: 11
Views: 889

Re: [Options for installing a Radon mitigation system]

I am thinking about DIYing this after looking at what's involved, but can't get my head around one aspect of it. How did you figure out where to punch the hole in the slab and how critical is the placement of said hole in relation to the rest of the slab/house? Does it need to be more central or ca...
by IowaFarmBoy
Sun Jul 22, 2018 8:32 pm
Forum: Personal Consumer Issues
Topic: [Options for installing a Radon mitigation system]
Replies: 11
Views: 889

Re: [Options for installing a Radon mitigation system]

So if I understand correctly, you will be pulling air/radon from 4' under the slab in the crawlspace? I think it is going to depend a lot on what your soil is like. I think the reason most sub slab depressurizaton (SSD) works is because there is commonly a layer of gravel or sand right below the bas...
by IowaFarmBoy
Fri Jul 20, 2018 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Is my umbrella policy over priced?
Replies: 20
Views: 1671

Re: Is my umbrella policy over priced?

inverter wrote:
Fri Jul 20, 2018 10:44 am
It's your 21 year old.
+1

When our daughter turned 16, our $1M policy went from about $170 to around $700.
by IowaFarmBoy
Fri Jul 20, 2018 11:31 am
Forum: Personal Consumer Issues
Topic: State Farm - safe driving discount ??
Replies: 21
Views: 921

Re: State Farm - safe driving discount ??

I would do this because of the low miles that you are driving. We have done this and have seen a pretty good discount on our 3000 miles per year car. Not so much on our 16k per year car. Once you get the app configured, you really don't have to do anything other than report the odometer reading twic...
by IowaFarmBoy
Fri Jul 20, 2018 5:05 am
Forum: Investing - Help with Personal Investments
Topic: $800,000 Windfall. Love the 3-Fund portfolio approach. Wealth Managers in contact
Replies: 33
Views: 4230

Re: $800,000 Windfall. Love the 3-Fund portfolio approach. Wealth Managers in contact

First, congrats on your success and welcome to Bogleheads! From reading your post, it seems like the major attraction of a manager for you is that you think they may be able to do something to protect you against a downturn. One of my favorite quotes on Bogleheads is "nobody knows nothing". I think ...
by IowaFarmBoy
Fri Jul 13, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2599

Re: Logging out 20 acre lot?

You should also look into whether the bank has a security interest in the timber, i.e., whether they will have first lien on the proceeds from selling the timber. You may need to turn the proceeds over to them. ( I did a quick google about this idea and it looks like this is commonly included in are...
by IowaFarmBoy
Wed Jul 11, 2018 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Dad asked for my help on pension decision that I do not understand
Replies: 43
Views: 3424

Re: Dad asked for my help on pension decision that I do not understand

Immediate Annuity Payment- -Elect to start monthly benefit payments effective September 2018 --Single Life Annuity - $331.32 month --50% Joint and Survivor Annuity - $296.93 month + $148.47 month to your survivor after death for rest of their life --75% Joint and Survivor Annuity - $282.27 month + ...
by IowaFarmBoy
Wed Jul 11, 2018 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Car totaled by uninsured driver
Replies: 37
Views: 3486

Re: Car totaled by uninsured driver

We've had a couple of cars totaled by uninsured drivers who didn't seem to have many resources. In both cases our uninsured/underinsured coverage (State Farm) paid us the value of the car minus our $250 deductible. After a few months, each time we received a check for our deductible. While I don't ...
by IowaFarmBoy
Tue Jul 10, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Grandmas Living Trust... Need Advice
Replies: 22
Views: 1443

Re: Grandmas Living Trust... Need Advice

Make sure you sit down with your grandmother & go over all assets, safe deposit boxes, saving bonds, etc. It is a lot easier when someone is alive, rather than going through files, tax returns, etc after they have passed. Create a spreadsheet to list things so you know what she has and where it is ...
by IowaFarmBoy
Tue Jul 10, 2018 5:23 am
Forum: Personal Finance (Not Investing)
Topic: Car totaled by uninsured driver
Replies: 37
Views: 3486

Re: Car totaled by uninsured driver

We've had a couple of cars totaled by uninsured drivers who didn't seem to have many resources. In both cases our uninsured/underinsured coverage (State Farm) paid us the value of the car minus our $250 deductible. After a few months, each time we received a check for our deductible. While I don't k...
by IowaFarmBoy
Sun Jul 08, 2018 6:58 am
Forum: Personal Consumer Issues
Topic: Quality/speed of Xfinity Mobile hotspots
Replies: 3
Views: 266

Quality/speed of Xfinity Mobile hotspots

I'm looking at changing phone plans and one I have under consideration is the Xfinity Mobile plan. We're existing Comcast customers so we have had access to the Comcast hotspots for years. My impression has been that while I can see a lot of them, it is frequently hard to get a strong signal so they...
by IowaFarmBoy
Fri Jul 06, 2018 5:00 am
Forum: Investing - Help with Personal Investments
Topic: Fractional equity shares
Replies: 5
Views: 713

Re: Fractional equity shares

Fractional shares are what you get when you invest an amount of money into a mutual fund that isn't an exact multiple of the price. This is very common since you don't know what the price will be when you place an order to buy the mutual fund since you get it at the closing price. For example, if yo...
by IowaFarmBoy
Fri Jul 06, 2018 4:48 am
Forum: Personal Consumer Issues
Topic: Every Other Friday Off
Replies: 52
Views: 5228

Re: Every Other Friday Off

I've been working a 9x80 for almost 20 years and have really liked it. I have mine set up so I only work 7.5 hours on the Fridays I do work so even that feels like a short day. I am generally able to move my off day around if I need to for activities. It has saved me a lot of vacation days over the ...
by IowaFarmBoy
Thu Jul 05, 2018 5:32 am
Forum: Investing - Help with Personal Investments
Topic: When is ok to change your IPS?
Replies: 21
Views: 1299

Re: When is ok to change your IPS?

OP here. Thanks everyone for the great discussion- I've learned a lot. This has been good insight into when to change along with some really good discussion about what an IPS is intended to do. Some of the good points being that it is a servant and not a master and the need for it to adapt over time...
by IowaFarmBoy
Wed Jul 04, 2018 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: When is ok to change your IPS?
Replies: 21
Views: 1299

When is ok to change your IPS?

I've been considering making some changes to my IPS (investment policy statement). Currently it is pretty simple, just allocation percentages along with a rebalancing plan. That has been enough for me so far but I don't have anything telling me when it is ok to change it. I've made small changes ove...
by IowaFarmBoy
Mon Jul 02, 2018 5:08 am
Forum: Personal Finance (Not Investing)
Topic: how often does high ACT score == scholarship?
Replies: 102
Views: 10007

Re: how often does high ACT score == scholarship?

Another data point for the original question. Our daughters scored 34 and 35, had high high school gpa's and were STEM focused. We are residents of Illinois and I think the University of Illinois offered one of them $500. We picked slightly lower rated public universities (one in-state public univer...
by IowaFarmBoy
Thu Jun 28, 2018 4:33 pm
Forum: Personal Consumer Issues
Topic: Used Hearing Aids
Replies: 8
Views: 625

Re: Used Hearing Aids

Most hearing aids are programmed to compensate for your specific hearing loss so you will need a way to get that done. You can find info about what that takes online in forums like hearing tracker that onthecusp mentioned.
by IowaFarmBoy
Wed Jun 27, 2018 4:51 am
Forum: Investing - Help with Personal Investments
Topic: Am I getting the run around?
Replies: 24
Views: 4233

Re: Am I getting the run around?

A 401k account usually comes with controls and tracking required by the IRS. It sounds like you want to set up a regular brokerage account with Schwab and have the company deposit money into it- basically like a taxable account that they deposit into. It seems like this would bypass the 401k "wrappe...
by IowaFarmBoy
Fri Jun 22, 2018 7:27 am
Forum: Personal Consumer Issues
Topic: Did you celebrate when you finally hit $1m?
Replies: 161
Views: 15160

Re: Did you celebrate when you finally hit $1m?

I don't recall doing much, probably told my spouse and maybe we went out to dinner at one of our usual places. One problem is that a million bucks isn't what it used to be. At a 4% withdrawal rate, it only generates $40k/year in income. It was a nice feeling and I do like the sound of being a millio...
by IowaFarmBoy
Thu Jun 21, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: Buy new truck before retiring?
Replies: 53
Views: 3019

Re: Buy new truck before retiring?

I think the op said the $9500 included his payoff of$6800 so the actual difference in cost is $2700. He didn't mention the odometer readings on each.
by IowaFarmBoy
Sun May 27, 2018 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Genworth LTC (Again)
Replies: 19
Views: 1863

Re: Genworth LTC (Again)

WeI've got a Genworth policy, too, and have the same frustrations. We've gone from about $1800/yr to $2600/yr in one increase over the 12 years we have had the policy. I really like your description of self-insuring- it's really not insuring, it's just saying you're willing to pay for your care out ...
by IowaFarmBoy
Sat May 26, 2018 4:43 am
Forum: Investing - Theory, News & General
Topic: The "4% withdrawal rate"- would it apply to someone "retiring" in their 70s?
Replies: 54
Views: 4688

Re: The "4% withdrawl rate" - would it apply to someone "retiring" in their 70s?

The 4% rate was developed with the goal of having a safe inflation adjusted income for 30 years and was based on a mixed portfolio with the expected returns at that time. If any of these factors are different, the safe rate could change. For example, many believe returns will be lower than what was ...
by IowaFarmBoy
Wed May 23, 2018 6:08 pm
Forum: Personal Consumer Issues
Topic: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick
Replies: 37
Views: 3052

Re: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick

I think it all comes down to how you will use the car and how important it is to you to have it not look rusted out. Financially the car probably isn't worth spending the money on but as someone pointed out, you will have a car for $1500 that should run a long time. If it was my primary driver and i...
by IowaFarmBoy
Mon May 21, 2018 6:17 am
Forum: Personal Consumer Issues
Topic: Detached Garage
Replies: 18
Views: 2368

Re: Detached Garage

Thanks for all the informative responses. It seems like the general consensus is that whichever option I go with to be sure that it’s dug below the frost line. Thanks again. The other basic thing is to follow the local codes and recommendations from your architect. They will be adapted to your cond...
by IowaFarmBoy
Sat May 19, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: Detached Garage
Replies: 18
Views: 2368

Re: Detached Garage

Either way, below frost line. +1 The monolithic slab is a good option but you do want it to go below the frost line. I used to build houses in Texas and pretty much everything was monolithic slab and they generally worked well. But you do need beams that are big enough and have enough rebar for rei...
by IowaFarmBoy
Thu May 17, 2018 4:53 am
Forum: Investing - Help with Personal Investments
Topic: Friend says "Stock market will crash, invest in silver" - thoughts?
Replies: 127
Views: 8918

Re: Friend says "Stock market will crash, invest in silver" - thoughts?

I'm reminded of the old joke- "He has successfully predicted 10 of the last 5 market crashes..."
by IowaFarmBoy
Wed May 16, 2018 8:56 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 36832

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

If you currently file using married brackets, at some point the survivor of you or your spouse will be filing using single brackets and your rate may be higher.
by IowaFarmBoy
Sun May 13, 2018 6:21 am
Forum: Investing - Theory, News & General
Topic: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing
Replies: 35
Views: 2232

Re: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing

As several have said, it is hard to know because we are trying to predict future incomes, tax rates, etc. We currently have income that, depending on itemization bunching, pre-tax 401k, etc., can put us into the 22% bracket or not depending on how aggressive we are. (I'm going to use current tax rat...
by IowaFarmBoy
Fri May 04, 2018 6:00 am
Forum: Investing - Help with Personal Investments
Topic: Bank loan
Replies: 6
Views: 568

Re: Bank loan

The bank is calculating what is called "add-on" interest. It is an alternate method for calculating interest that is better for them, worse for you. But it is a real "thing."

https://www.investopedia.com/terms/a/ad ... terest.asp
by IowaFarmBoy
Thu Apr 26, 2018 4:39 am
Forum: Personal Consumer Issues
Topic: Anyone had luck getting condo to install solar panels?
Replies: 6
Views: 733

Re: Anyone had luck getting condo to install solar panels?

One of the issues you will need to resolve is what to do with the electricity. My original thought was that this a cool idea in that you could get some economies of scale in terms of inverters and electrical hookups but then I realized that everyone probably has their own meter so you wouldn't gain ...
by IowaFarmBoy
Sat Apr 21, 2018 10:59 am
Forum: Personal Finance (Not Investing)
Topic: State and fed tax credits - buying a Bolt electric vehicle before it’s needed
Replies: 21
Views: 2109

Re: State and fed tax credits - buying a Bolt electric vehicle before it’s needed

Buying it four years early seems like a long time. I would expect EV technology to change a lot during that time. It wouldn't surprise me to see electric vehicles drop in price as the technology becomes more mainstream, thus offsetting some of your savings. Plus you would have the carrying costs lik...
by IowaFarmBoy
Sat Apr 21, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Renting out home with Swimming pool
Replies: 10
Views: 2353

Re: Renting out home with Swimming pool

+1 on the legal and insurance review One issue that comes to my mind is that you may be really good at dealing with the attractive nuisance issues when you are living there- keeping unauthorized people out, keeping gates locked, etc. A tenant may or may not be. Their negligence could leave you liabl...
by IowaFarmBoy
Sun Apr 15, 2018 8:40 pm
Forum: Personal Consumer Issues
Topic: Is it necessary to replace brake fluid on a car every 3 years?
Replies: 56
Views: 4578

Re: Is it necessary to replace brake fluid on a car every 3 years?

I try to do it every 3-4 years. Our older Volvos have it in the maintenance schedule for every 3 years or 30k miles if my memory is good. Our new Toyota is something like that also. In addition to safety concerns, I do it for protection of the system. Modern anti-lock systems have some expensive com...
by IowaFarmBoy
Wed Apr 11, 2018 5:20 am
Forum: Personal Consumer Issues
Topic: Should I prewire my home network myself?
Replies: 40
Views: 2573

Re: Should I prewire my home network myself?

If I were doing this, I would probably run ENT (electrical non-metallic tubing) to each location with the other end at a common spot, like in the basement or a utility closet. You can then pull whatever kind of cable you want through the tubing and replace it later if something new becomes the best ...
by IowaFarmBoy
Fri Apr 06, 2018 5:37 am
Forum: Personal Consumer Issues
Topic: What is the rationale for coinsurance?
Replies: 10
Views: 1223

Re: What is the rationale for coinsurance?

I think the key is that one of your premises is wrong- as several others have pointed out, it is not the "same risk". On the surface, it may look like the same risk since the insurance company is only on the hook for the policy limit (of say $50k). But the likelihood of paying that $50k will vary. I...
by IowaFarmBoy
Sat Mar 24, 2018 5:57 am
Forum: Personal Consumer Issues
Topic: What would you do with this car?
Replies: 37
Views: 3065

Re: What would you do with this car?

denovo wrote:
Sat Mar 24, 2018 4:38 am
How much did you sell it for?
And how did you sell it? Hope it was on craigslist! :?
by IowaFarmBoy
Tue Mar 20, 2018 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 33155

Re: Those with high savings rate: why?

Not sure what the future holds and there are significant risks out there at a time when we are vulnerable (no longer able to earn). Risks like inflation, medical costs, vulnerability of markets, pensions and social security. Most probably won't happen and we will end up being way over saved but we w...
by IowaFarmBoy
Tue Mar 20, 2018 5:15 am
Forum: Personal Consumer Issues
Topic: Amazon Prime Going Sideways/Weird Shipment Problems
Replies: 66
Views: 5939

Re: Amazon Prime Going Sideways/Weird Shipment Problems

I ordered two items on Sunday and selected two day shipping for Tuesday arrival on both. One shipped Sunday night and is on track to be here on Tuesday. The other didn't ship that night and during the day on Monday was projecting a Wed delivery. By the time it actually shipped, the delivery date had...
by IowaFarmBoy
Fri Mar 16, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: [Minimizing costs of a medical procedure (Colonoscopy)]
Replies: 87
Views: 7601

Re: [Minimizing costs of a medical procedure (Colonoscopy)]

I've had seven colonoscopies if I am counting correctly. I had my first at 37 due to family history. In that one, they found three polyps, none of which were cancerous. Since then- I'm almost 60 now, they found one anal polyp on my next last procedure. I went without sedation for the first 6. Genera...
by IowaFarmBoy
Thu Mar 15, 2018 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone using a bill paying service?
Replies: 27
Views: 2724

Re: Is anyone using a bill paying service?

I have most bills (student loans, phone bill, electricity, credit card) set up to automatically charge my credit card each month or take the money from my checking account each month for vendors like the student loan company that don't take credit cards. My credit cards are on autopay. There isn't ...
by IowaFarmBoy
Wed Mar 14, 2018 5:27 am
Forum: Personal Finance (Not Investing)
Topic: Selling business (website) considerations
Replies: 27
Views: 2543

Re: Selling business (website) considerations

If the expenses have been written off over the years, either as operating expenses or depreciation, I don't think they will count toward your basis for the purpose of capital gains.