Search found 83 matches

by Matt Y.
Tue Jul 30, 2019 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: loan settlement at home sale closing question
Replies: 6
Views: 717

Re: loan settlement at home sale closing question

Thank you all for the relevant perspectives,this information was very helpful!
Bravo Bogleheads!
Matt Y.
by Matt Y.
Mon Jul 29, 2019 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: loan settlement at home sale closing question
Replies: 6
Views: 717

Re: loan settlement at home sale closing question

Carefree: Yes, I lent the money to my parents. I am not a co-signer. Thanks for the heads up on the mortgage satisfaction/cancellation agreement. I am most interested to know what specifically I will need to provide to substantiate to the closing agent/ attorney the amount due me. Do I need to hire ...
by Matt Y.
Mon Jul 29, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: loan settlement at home sale closing question
Replies: 6
Views: 717

loan settlement at home sale closing question

Several years ago I entered into a HELOC mortgage agreement and executed a promissory note with my parents on their home in FL. Both of these documents were created by a competent real estate attorney. The mortgage was properly recorded in the county tax office. Over the past 8-years, their loan wit...
by Matt Y.
Thu Apr 04, 2019 10:39 pm
Forum: Personal Investments
Topic: Defined Benefit Plans after leaving job - how to decide whether to leave in or withdraw?
Replies: 11
Views: 703

Re: Defined Benefit Plans after leaving job - how to decide whether to leave in or withdraw?

15-years ago, my wife left her state employment, did not plan to return so withdrew her 3 years of defined benefit contributions. At that time, the rules allowed her to buy back those years of service by repaying with interest what she had withdrawn, so we concluded there was very little risk to her...
by Matt Y.
Sat Jan 26, 2019 12:58 pm
Forum: Personal Investments
Topic: TD Ameritrade Money Market Options
Replies: 99
Views: 20821

Re: TD Ameritrade Money Market Options

I was faced with this same issue a few months ago and concluded the following: The closest exposure to VMFXX (Vanguard Federal Money Market Fund) at TD Ameritrade NTF is BIL (SPDR® Bloomberg Barclays 1-3 Month T-Bill ETF Ultrashort Bond) The closest to VGSH (Vanguard Short-Term Treasury ETF) is SPTS...
by Matt Y.
Fri Dec 14, 2018 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Gift Tax/ Form 709 Question
Replies: 3
Views: 303

Re: Gift Tax/ Form 709 Question

Thanks Steve: That's helpful perspective. If anyone else can also share their first-hand experience or knowldge here, particularly if they requested an income tax return transcript the year after filing Form 709 and can verify one way or the other if their gift/ Form 709 was part of the transcript o...
by Matt Y.
Thu Dec 13, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Tax/ Form 709 Question
Replies: 3
Views: 303

Gift Tax/ Form 709 Question

For those who have filed IRS Form 709 for amounts gifted above the annual exclusion limit, does the filing of 709 require any additional follow up reporting when I file taxes the next tax year? (Assuming no additional gifts are made) Also, if I file Form 709 for gifts made in 2018, will my 2019 tax ...
by Matt Y.
Wed Sep 19, 2018 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2122

Re: retroactive change to State Retirement plan illegal?

.....still in the appeal process and for sharing the link from the law firm representing the plaintiffs in this case - I will contact them if I do not receive a satisfactory answer to my request from the State Treasurer’s Office. I agree, the law firm should no doubt have much deeper insight into t...
by Matt Y.
Tue Sep 18, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2122

Re: retroactive change to State Retirement plan illegal?

Yes and no. The state appealed and is awaiting a decision whether the NC Supreme Court will hear the appeal directly (bypassing the NC Court of Appeals) This was supposed to have happened in the spring of this year, so apparently there has been a delay. Here is the most up to date info from the law...
by Matt Y.
Mon Sep 17, 2018 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2122

Re: retroactive change to State Retirement plan illegal?

SoAnyway: It appears you and the highly relevant article are spot-on as this additional article indicates NC State lost the case: https://www.newsobserver.com/opinion/editorials/article152731404.html The state lost, and now is looking at $100 million in damages. The judge ruled that retirees had a c...
by Matt Y.
Mon Sep 17, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2122

Re: retroactive change to State Retirement plan illegal?

Are you in a bargaining unit/position that is represented by a union? There is strength in numbers. If you are represented by a union I would raise the issue through them since others could be impacted as well. When a union is involved it's called "bargaining" because both sides have skin in the ga...
by Matt Y.
Mon Sep 17, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: retroactive change to State Retirement plan illegal?
Replies: 17
Views: 2122

retroactive change to State Retirement plan illegal?

I am trying to learn if a recent retroactive change in benefit eligibility at the NC State Retirement system is legal. During May 2014, I had enough years of State employment where I was eligible for the state to pay all of the cost for my individual coverage under the State Health Plan 70/30 or Med...
by Matt Y.
Mon May 14, 2018 9:48 pm
Forum: Personal Consumer Issues
Topic: Must See in South Dakota
Replies: 59
Views: 6357

Re: Must See in South Dakota

In De Smet SD we enjoyed the Laura Ingalls wilder homestead and in-town museum which would be more interesting if one read her biography as we had.
by Matt Y.
Wed Apr 04, 2018 10:45 pm
Forum: Personal Consumer Issues
Topic: 2018 Forester vs CRV vs RAV4
Replies: 143
Views: 21351

Re: 2018 Forester vs CRV vs RAV4

After just a few years with children it is really hard to beat a minivan - in our experience either an Odyssey or Sienna. Just send some time observing the pick-up lines at your local elementary, middle and high school and it will all become clear.
by Matt Y.
Wed Apr 04, 2018 10:22 pm
Forum: Personal Consumer Issues
Topic: Builder wants $800 to vent a gas cooktop
Replies: 53
Views: 5439

Re: Builder wants $800 to vent a gas cooktop

If I am cooking with gas I would 100% vent the combustion fumes outside.

I would also vent to the outside if cooking with electric, rather than recirculate.
by Matt Y.
Tue Mar 13, 2018 8:23 pm
Forum: Investing - Theory, News & General
Topic: Is HSA Bank + TD Ameritrade still the best HSA choice?
Replies: 83
Views: 26430

Re: Is HSA Bank + TD Ameritrade still the best HSA choice?

I don't have any major complaints about our HSA Bank + linked Ameritrade brokerage. We keep the minimum at HSA Bank - something like $5,000 - to avoid fees and all the rest is in the linked Ameritrade account in equities. January each year we make our annual contribution. A week later move it to Amr...
by Matt Y.
Mon Mar 05, 2018 12:19 am
Forum: Personal Consumer Issues
Topic: Road trip to National Parks in Pacific/Mountain States.
Replies: 15
Views: 2437

Re: Road trip to National Parks in Pacific/Mountain States.

We have visited many of the Ntl Parks - most all the main ones and lots of the smaller ones. We like to spend at least a week to 10-days minimum in any one park and that is just doing the main high points. If you plan to get into the back county, you could spend a lot more time than that before you ...
by Matt Y.
Sat Mar 03, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: New vehicle research
Replies: 48
Views: 4601

Re: New vehicle research

We have had great outcomes with Toyota. Have owned 6 over many year. In 2008 tried a Honda (Odyssey) and have liked it, but after 150,000 miles it has required more maintenance cost and had a few more flaws than have experienced with the many Toyotas we have owned. Two years ago we replaced my wife'...
by Matt Y.
Thu Mar 01, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Those premiums are dirt cheap! You should thankful that you have such cheap coverage. In all seriousness, Amica is probably one of the cheapest insurers in SE Texas right now in my area. Our homeowners with Liberty Mutual is $1,600 per year for a home valued at $400k. (I don't have the exact breakd...
by Matt Y.
Thu Mar 01, 2018 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

I want to report back on the steps we made with our HOI with Amica. Through an agent, we priced an equal set of bundled home, auto, umbrella policies with Erie and several carriers. We priced the same through Amica direct. We also priced the policies as stand-alone. We did not get the best overall ...
by Matt Y.
Thu Mar 01, 2018 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

I want to report back on the steps we made with our HOI with Amica. Through an agent, we priced an equal set of bundled home, auto, umbrella policies with Erie and several carriers. We priced the same through Amica direct. We also priced the policies as stand-alone. We did not get the best overall r...
by Matt Y.
Mon Feb 26, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

personal property replacement limit......40% of dwelling value...................55% of dwelling value..................75% of dwelling value ........................................................$162,800....................................$223,850.....................................$305,250 Ded...
by Matt Y.
Sun Feb 25, 2018 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

The 2nd year is explainable especially if you hit a different rate structure and if you have a flat $2500 deductible not one that is a percentage of coverage. The first year isn't unless it was a location wide increase. Do you factor in any rebates if you don't file any claims? I have never filed a...
by Matt Y.
Sun Feb 25, 2018 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

In case this might be of benefit to others, as an update Amica has provided the following quotes that would reduce my home owners premium from the proposed $916 for 2018. The left column below lists various deductible levels (from $2500 to $7500) and the top row lists several personal property repla...
by Matt Y.
Sat Feb 17, 2018 6:45 pm
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 68
Views: 11402

Re: How many of you use the "4% rule" during retirement?

I assist an octogenarian with her finances and we have used 4% guidance number for years as confirmation her spending draw-down is sustainable. Over the past 16-years her highest draw-down year was 6.15%, the lowest 2.63% with a 16-year average of 3.41%. For us it has served as helpful guidance and ...
by Matt Y.
Sat Feb 17, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Do you think that the fires and mudslides out West are a factor? How about all the hurricanes in the south and east coast? Even if you made no claims, many other people did and you have to pay for them. This is a common misconception about homeowners insurance. Homeowners insurers set their rates s...
by Matt Y.
Sat Feb 17, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Do you think that the fires and mudslides out West are a factor? How about all the hurricanes in the south and east coast? Even if you made no claims, many other people did and you have to pay for them. This is a common misconception about homeowners insurance. Homeowners insurers set their rates s...
by Matt Y.
Sat Feb 17, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Long time Amica fan and supporter here. I agree with others and recommend you shop around but keep in mind the satisfaction of customers before you make your final decision. There are lots of Amica supporters on here if you want to message some directly. I hate paying, but my experience has been th...
by Matt Y.
Sat Feb 17, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Wow, your replacement cost is 800k and you only pay $900??? My Amica policy is about that much on <400k replacement cost. Granted it has not gone up anywhere near as fast as your has.... $834,350 is the total Limit of Liability of all Section I coverages that have increased $73,800 or 9.7% over the...
by Matt Y.
Fri Feb 16, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Re: Amica reocurring double digit increases in homeowners insurance

Only way to know if you're getting a good deal or if Amica is ripping you off is to shop around. Thanks denovo. I do plan to shop the policy around after I get a refreshed quote with a higher deductible - currently at $2,500. The Amica reps' response for the premium increases strike me as a bunch o...
by Matt Y.
Fri Feb 16, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 6417

Amica reocurring double digit increases in homeowners insurance

I am trying to get a handle on my homeowners policy (w/ Amica) which for the past 2-years has seen a recurring double digit increases in homeowners insurance premiums - an increase of 32% in 2-years. I sent the following correspondence to Amica to try to get some perspective, but am still having a h...
by Matt Y.
Sat Feb 03, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.
Replies: 76
Views: 15063

Re: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.

Thanks for that confirmation in thinking FiveK. I understand some plan and do retire 7-years or so prior to taking full SS, where income and tax liability during this period would be low enough - even w/o children/ dependents - that much can be converted to roth in these non-working years prior to t...
by Matt Y.
Sat Feb 03, 2018 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.
Replies: 76
Views: 15063

Re: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.

OK, so I ran several scenarios through CashFlow.xls under the OP situation, but added an additional $18,000 457(b) deferral and 5.75 state tax to replicate my own situation, which resulted in an effective $3,208 check from the IRS (after subtracting 5.75 in state tax). I then ran three additional sc...
by Matt Y.
Sat Feb 03, 2018 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.
Replies: 76
Views: 15063

Re: Make $90k, pay no Federal Income Tax in 2018? Check / critique this scenario.

Since the CTC will be refundable at $1,400/ child, if as in the OP situation with 2 children >17 years old, if one had additional deductions available such as 457 (b), would it then not be better to take all deductions to receive the refundable credit rather than go with roth? This would also reduce...
by Matt Y.
Fri Dec 22, 2017 12:07 pm
Forum: Personal Consumer Issues
Topic: Electric Energy Usage
Replies: 86
Views: 6703

Re: Electric Energy Usage

Heat pumps in PA climate - even the newer more efficient units - are a poor efficiency match.

Propane fireplace insert with blowers are very inefficient - would suggest a pellet stove for that kind of initial investment for much more heat/ cost.
by Matt Y.
Tue Dec 12, 2017 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 10995

Re: Quit jobs to gain lower EFC

The vast majority of schools have need blind admissions. This is incorrect. While there are about 100 colleges that claim to have a need-blind admissions policy, in reality only 30 - 40 with large endowments -think Harvard and Yale - actually are. Even if a school meets 100% of your “demonstrated f...
by Matt Y.
Sun Dec 10, 2017 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 10995

Re: Quit jobs to gain lower EFC

The vast majority of schools have need blind admissions. While there are about 100 colleges that claim to have a need-blind admissions policy, in reality only 30 - 40 with large endowments -think Harvard and Yale - actually are. Even if a school meets 100% of your “demonstrated financial need,” thi...
by Matt Y.
Sun Dec 10, 2017 1:26 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 10995

Re: Quit jobs to gain lower EFC

Ability to pay is taken into consideration for admissions at all but a hand-full of top tier institutions, for all but the most attractive applicants. After putting two kids through the system, I did NOT get that feeling. On the contrary, I recall reading statements on the college application websi...
by Matt Y.
Sat Dec 09, 2017 1:19 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 10995

Re: Quit jobs to gain lower EFC

I would echo all of what Wild Bill said so well above and add that unless your children are all in the top 15 - 20% as compared to those admitted to the schools of their choice, that by significantly reducing your EFC in the way you consider, you may actually limit the schools that would accept your...
by Matt Y.
Wed Dec 06, 2017 12:09 am
Forum: Personal Consumer Issues
Topic: 2018 Subaru Outback
Replies: 65
Views: 14898

Re: 2018 Subaru Outback

We strongly considered buying a new 2016 Subaru Outback, two years ago. We also looked at the CRV and the RAV4. We really liked the 2016 Subaru Outback and on an emotional level - we wanted to buy one, but after reading and learning of so many who have had mechanical issues with engines burning oil ...
by Matt Y.
Tue Nov 28, 2017 10:42 pm
Forum: Investing - Theory, News & General
Topic: Is there any reason to invest in real estate?
Replies: 100
Views: 13419

Re: Is there any reason to invest in real estate?

I own 15 rental properties. They are a pain, but I've managed to get an 18% return on average over the past 23 years. It's very different from investing in listed securities, and not for everyone. Hi Stormbringer: Is that an 18% annualized ROI (compounded/ averaged) for all 15 properties over the 2...
by Matt Y.
Sat Nov 25, 2017 12:04 am
Forum: Investing - Theory, News & General
Topic: Vanguard Equivalents in new TDA commission free list
Replies: 11
Views: 2365

Re: Vanguard Equivalents in new TDA commission free list

DLS is an option I use for international small cap. The ER not great, but since purchasing shortly after issuance, I have been satisfied with overall.
by Matt Y.
Thu Sep 07, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: Do you have to paint stucco?
Replies: 31
Views: 4388

Re: Do you have to paint stucco?

Fluctuations in temperature and humidity - in addition to settling - result in houses expanding and contracting. A wall that is in direct sun for several hours will expand and then when the sun is not longer out the wall will contract. Hard coat stucco is best applied to masonry structures that expa...
by Matt Y.
Thu Sep 07, 2017 10:12 am
Forum: Personal Consumer Issues
Topic: Do you have to paint stucco?
Replies: 31
Views: 4388

Re: Do you have to paint stucco?

The texcote product is an elastomeric product just under a different name. One cannot effectively apply hardcoat over an elastomeric product - the elastomeric would need to be sandblasted off first - a royal PITA. You are likely on the right track thinking there may be cracked stucco under the elast...
by Matt Y.
Thu Aug 24, 2017 9:48 pm
Forum: Personal Consumer Issues
Topic: Do you have to paint stucco?
Replies: 31
Views: 4388

Re: Do you have to paint stucco?

I was a stucco contractor for 15-years and have worked with many different types of "stucco" over the years. I would not recommend EFIS - it is prone to many problems, most mentioned above. In my experience, tinted "hard-coat" stucco is the way to go - if quality pigment is used correctly the color ...
by Matt Y.
Tue Apr 19, 2016 2:51 pm
Forum: Personal Investments
Topic: fee only financial planner recomendation
Replies: 10
Views: 1573

Re: fee only financial planner recomendation

Hi Dave;
Thanks for taking the time to share this. It is very helpful.

Matt Y.
by Matt Y.
Tue Apr 19, 2016 1:00 pm
Forum: Personal Investments
Topic: fee only financial planner recomendation
Replies: 10
Views: 1573

Re: fee only financial planner recomendation

Hi Dave; Their account makes them eligible for the free service at Vanguard and they will likely follow-up with that as a starting point. If it is insufficient, they can go to an hourly or fee only after that. They just received a rough estimate of 10 hours at $225/ hour or $2,250 from an hourly CFP...
by Matt Y.
Tue Apr 19, 2016 8:36 am
Forum: Personal Investments
Topic: fee only financial planner recomendation
Replies: 10
Views: 1573

Re: fee only financial planner recomendation

Hi Neilpilot: The couple I am helping was quoted $2,000 by a fee only CFP to produce a retirement plan for them. They are both state employees with finances and situation pretty straight forward and common. I considered the $2,000 to be of questionable value so am suggesting they get in touch with V...
by Matt Y.
Tue Apr 19, 2016 7:57 am
Forum: Personal Investments
Topic: fee only financial planner recomendation
Replies: 10
Views: 1573

Re: fee only financial planner recomendation

Thank you Paul and "Bogle feet". We have reached out to an advisor found through Garrett and plan to contact Vanguard's advisor service to compare options.

Best,

Matt Y.
by Matt Y.
Mon Apr 18, 2016 5:58 pm
Forum: Personal Investments
Topic: fee only financial planner recomendation
Replies: 10
Views: 1573

fee only financial planner recomendation

We are looking for a recommendation for a fee only financial planner - preferably hourly - in the southern New Hampshire area to create a retirement and college funding plan for a 50 y/o, dual state employed couple with children a few years from college. These folks are looking for a plan and someon...