Search found 422 matches

by TN_INVEST
Mon Jun 03, 2019 1:33 pm
Forum: Personal Investments
Topic: Should I rollover my 401k from old megacorp to new megacorp?
Replies: 36
Views: 2925

Re: Should I rollover my 401k from old megacorp to new megacorp?

lakpr wrote: Thu May 23, 2019 1:42 pm
TN_INVEST wrote: Thu May 23, 2019 11:57 am I'm not familiar with the Roth contribution limitations due to size of rollover IRA, so I'd be most interested in learning about that.
https://www.bogleheads.org/wiki/Backdoor_Roth
Still not seeing where your contributions to a Roth are affected by size of rollover.

Is the restriction on contributions based on income? (I'm not asking about Roth conversions)
by TN_INVEST
Fri May 24, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Question on Plug-in Hybrid tax credit
Replies: 12
Views: 1596

Re: Question on Plug-in Hybrid tax credit

Some states have begun trying to hit electric car owners with special taxes because they use roads that are funded by gasoline taxes that they don't pay.
by TN_INVEST
Fri May 24, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 3638

Re: Do you think we can stop funding our 529 plan?

Some of you guys would make terrible financial advisors.... mainly because you aren't listening (skin in game, college isn't only way to succeed, etc).

It's as if you bare letting your opinion and best interest dictate the advice you are giving :-/
by TN_INVEST
Thu May 23, 2019 11:57 am
Forum: Personal Investments
Topic: Should I rollover my 401k from old megacorp to new megacorp?
Replies: 36
Views: 2925

Re: Should I rollover my 401k from old megacorp to new megacorp?

lakpr wrote: Thu May 23, 2019 11:33 am
TN_INVEST wrote: Thu May 23, 2019 11:27 am Nope.
I can't think of one reason to choose a 401k over a rollover IRA.

Main reason being that I don't trust the new company HR benefit department won't monkey around and change things up.
I can think of two reasons easily.

Asset protection in 401k plans is much stronger than in individual IRAs.

If your income is in the 24% federal tax bracket, you are also likely bumping up against limits to contribute to Roth IRA directly; in that case having a large traditional Rollover IRA will also shut you out of being able to contribute to Roth.
Not worried about the asset protection differences.

I'm not familiar with the Roth contribution limitations due to size of rollover IRA, so I'd be most interested in learning about that.
by TN_INVEST
Thu May 23, 2019 11:27 am
Forum: Personal Investments
Topic: Should I rollover my 401k from old megacorp to new megacorp?
Replies: 36
Views: 2925

Re: Should I rollover my 401k from old megacorp to new megacorp?

Nope.
I can't think of one reason to choose a 401k over a rollover IRA.

Main reason being that I don't trust the new company HR benefit department won't monkey around and change things up.
by TN_INVEST
Thu May 23, 2019 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 3638

Re: Do you think we can stop funding our 529 plan?

I would slow down the contributions to the 529s (drop it to $100-$200)...and put the difference ($400-$300) into a separate investment account.

If you don't trade much, you wont owe many taxes, and the added flexibility of that account will be nice.
by TN_INVEST
Mon May 20, 2019 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Another Inherited IRA question
Replies: 11
Views: 1183

Re: Another Inherited IRA question

btenny wrote: Sun May 19, 2019 11:26 am Go read government publication 590 on IRA. I think you need to start ira rmds this year and use Table 1 for your age. So I think you need to take a rmd of 1/48.5 or slightly more than 2%. Read carefully. Pay attention to see when first year rmd is required vs date of death.

Sorry for your loss.
This.

You'll need to take just over 2% for your first RMD (you can take more)
by TN_INVEST
Mon May 20, 2019 2:25 pm
Forum: Personal Consumer Issues
Topic: Car repairs: what to do next time
Replies: 49
Views: 4662

Re: Car repairs: what to do next time

This group is a pretty resourceful group. Id encourage everyone to learn some basic car maintenance skills. Some things are not very difficult at all (cabin filter, air filter, flush radiator, etc).

And if you don't mind getting a little dirt under your nails, you can save a ton of money.
by TN_INVEST
Thu May 17, 2018 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Protecting assets against frivolous litigations
Replies: 24
Views: 5542

Re: Protecting assets against frivolous litigations

I was told by an attorney that one good idea is to separate assets between spouses. Especially vehicles. Put your vehicle in just your name and your spouses vehicle in just their name. I think the idea is that if you have an accident, your spouse's name is not tied to the vehicle (vice versa). And of course, get an umbrella policy and un-insured and underinsured insurance. That doesn't work in a community property state like Washington (aside from a full blown post-nuptial agreement), but even if it did, it can be viewed as trying to defraud creditors if the problem in the home that causes the suit is a hidden one. It can be done (and works), but should only be done with careful consideration for both financial factors and the stability of...
by TN_INVEST
Wed Jun 24, 2015 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Protecting assets against frivolous litigations
Replies: 24
Views: 5542

Re: Protecting assets against frivolous litigations

I was told by an attorney that one good idea is to separate assets between spouses. Especially vehicles. Put your vehicle in just your name and your spouses vehicle in just their name. I think the idea is that if you have an accident, your spouse's name is not tied to the vehicle (vice versa).

And of course, get an umbrella policy and un-insured and underinsured insurance.
by TN_INVEST
Tue Sep 23, 2014 9:47 am
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 13106

Re: You may want to rethink the odds of ever needing LTCi

Index Fan wrote:I'd be very interested in seeing how often LTCi actually pays when it is needed. I've seen quite a few (admittedly anecdotal) stories about people who paid for LTCi for years and then when it was needed all sorts of roadblocks and denial of claims came from the insurance company. If someone who is incapacitated doesn't have a strong advocate to fight for claims when they need it, the results may be even worse.

Admission: I used to have LTCi but stopped the policy due to such concerns.
I ran across this Forbes article and learned a few things (mainly that there is a lot of red tape and potential pitfalls to filing a claim)

http://www.forbes.com/sites/nextavenue/ ... -benefits/
by TN_INVEST
Wed Sep 17, 2014 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Friend needs guidance or financial planner?
Replies: 3
Views: 730

Re: Friend needs guidance or financial planner?

What sort of relationship is she looking for?

I don't want or appreciate full-service. Some folks do.
by TN_INVEST
Wed Sep 17, 2014 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 13106

Re: You may want to rethink the odds of ever needing LTCi

pshonore wrote:My Genworth agent told me that 70% of their LTC claim $ get spent on other than nursing homes. (assisted living, in home care, etc.)
And there is the moral hazard that insurance companies face (disability, dental, LTC & health especially). Folks that have the policy are more likely to show up as recipients of care because they have the insurance. Folks that don't have insurance may never show up as receiving care...therefore they may skew the numbers even more.

I'd be very leery of the studies that say the average stay in a nursing home is X-# of days. Usually the need for long term care is considerably longer.
by TN_INVEST
Tue Sep 16, 2014 9:10 am
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 13106

Re: You may want to rethink the odds of ever needing LTCi

Very odd the article left out any analysis of home care. Home care is by far the preference, not nursing homes, so this analysis is pretty skewed. And unfortunately those living needs riders typically only cover nursing home and scantily at that. That's the first thing that I thought about. IN-HOME CARE is what's most appealing And you can bet that families fight tooth and nail to stay out of nursing homes (even if they have insurance). Yet, I'd be willing to bet that most folks that enter a nursing home have already spent a ton more time dealing with long term care stuff at home . Looking at just nursing home care and ignoring the time that leads up to entering the nursing home is sorta like saying Usain Bolt works for <10 seconds.
by TN_INVEST
Fri Sep 12, 2014 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Student Loan Assistance
Replies: 3
Views: 612

Re: Taxes on Student Loan Assistance

Taxes will be paid in the year the benefit is received.

I suspect they will prepare the proper compensation forms for you (1099, w2, etc.).
by TN_INVEST
Thu Sep 11, 2014 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 8316

Re: Colleague being fleeced by insurance agent / Ponzi Schem

P.S. I know enough about indexed annuities, whole life, and structured products to know that these are products that are meant to be sold and not to be bought. Now explain to OP what a Ponzi scheme is, and how described stuff in OP is not a Ponzi scheme. Not relevant to my response. He wanted to know if the colleague is being fleeced. Surely, that's the case, despite your comments otherwise. Perhaps you should explain to the OP why his friend isn't being ripped off since you know so much about these products? I'm going with my original post about treading lightly rather than being known as Mr. Smartypants. As to your assurance about the fleecing...How do you know, given very little is really known? We are talking hearsay and guesses from a...
by TN_INVEST
Wed Sep 10, 2014 10:34 am
Forum: Personal Finance (Not Investing)
Topic: contingent beneficiary for life insurance
Replies: 9
Views: 1400

Re: contingent beneficiary for life insurance

[quote="dm200" "Trust Under My Will" be the secondary or contingent beneficiary.[/quote]

That's what I've always heard, too.
by TN_INVEST
Wed Sep 10, 2014 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 8316

Re: Colleague being fleeced by insurance agent / Ponzi Schem

denovo wrote:
P.S. I know enough about indexed annuities, whole life, and structured products to know that these are products that are meant to be sold and not to be bought.
Now explain to OP what a Ponzi scheme is, and how described stuff in OP is not a Ponzi scheme.
by TN_INVEST
Tue Sep 09, 2014 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 8316

Re: Colleague being fleeced by insurance agent / Ponzi Schem

denovo wrote:
TN_INVEST wrote:
LAlearning wrote:Sounds great for them. I would move along.

Yup

Is this sarcasm? How is this great for them?
You/he/we don't know enough (and we certainly don't know enough) to be giving them advice.

He said he doesn't want to press hard and seem accusatory, and yet he scurried over here to see if there is some info that he can use to save them. I would just leave them alone.

If your curiosity really is getting to you, I'd research:
indexed annuities, whole life, and structured products

I'd even start to compare and contrast the similarities and differences between insured and guaranteed.
by TN_INVEST
Fri Sep 05, 2014 3:39 pm
Forum: Personal Consumer Issues
Topic: cell phone for kids
Replies: 25
Views: 2814

Re: cell phone for kids

bloom2708 wrote:Buy a Sprint iPhone 4 (~$70 for a nice used one). Put it on Ting.com. Disable data. Have her use Wi-Fi for data needs.

The bill should be around $10/month ($6 + usage). Their pay as you go plan should allow your plan to "grow" with your daughter.
Sound advice for most folks of any age. Especially if you aren't a heavy cell-tower data user (non-wifi, that is).

Buy your phones as you would your cars...buy em used and save a ton (lots of places sell phones with warranties, so you limit your risk).

Another option is Tracfone and/or iWireless. You can get a $10 dumb phone and pay about $10-15 a month provided she isn't going to use the phone very much.
by TN_INVEST
Wed Sep 03, 2014 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance do I need?
Replies: 22
Views: 3047

Re: How much life insurance do I need?

You just had a kid. Buy more.

10x income is a decent rule of thumb for life insurance until you become really wealthy and/or your kids are out of that paid for house.

At your age, you can probably find enough money in your couch cushions to pay for it. Don't sweat the small things.

You don't really "extend" an existing life ins policy. You buy a new one to supplement your old one, or to replace your old one.
by TN_INVEST
Tue Sep 02, 2014 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Once your house appreciates +$250k, sell it?
Replies: 42
Views: 6752

Re: Once your house appreciates +$250k, sell it?

dickenjb wrote:Reminds me of Mark Twain's advice on stocks:

Buy a stock and sell it when it goes up.

If it doesn't go up, don't buy it.

Rule # 1 of investing....never lose money :D
by TN_INVEST
Tue Sep 02, 2014 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity - Timing of Surrender Charges
Replies: 10
Views: 1306

Re: Variable Annuity - Timing of Surrender Charges

Balanthalus wrote: Are surrender charges different for contributions made at different times? I have been unable to find an answer to this question by searching the forum or elsewhere on the Web.
I'd be shocked if they weren't.

Have them call and ask.

Get them to see if they have other options (some plans do have other product provider options).
by TN_INVEST
Tue Sep 02, 2014 9:01 am
Forum: Personal Finance (Not Investing)
Topic: sell a 7 year old car or keep it?
Replies: 16
Views: 3426

Re: sell a 7 year old car or keep it?

Car parts are cheaper than car payments

That's not to say that you plan on picking up payments, but most of the time it is much cheaper to maintain a used car than it is to buy a car. My preference with vehicles is to buy em used and use em up (cars don't do it for me, and I'm so frugal that the thought of paying for a new(er) car drives me up the wall).
by TN_INVEST
Tue Sep 02, 2014 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Physician Long term Disability- Premium pre or post tax
Replies: 31
Views: 4855

Re: Physician Long term Disability- Premium pre or post tax

EmergDoc wrote:If I was offered pre-tax premiums, I'd take them. There's a 6/7 chance you won't ever get benefits, but the pre-tax premiums are guaranteed. Plus, those benefits will be much less taxed than your current income, since it'll be a lot less income. A bit of arbitrage there really. This assumes you can get enough coverage of course. If you can't you may have to take the after-tax option.
I don't have the answer, but here's something to think about: there is a fair chance that if/when you do get disabled, you may have lots of deductible medical bills that could drive your effective tax rate even lower.
by TN_INVEST
Tue Sep 02, 2014 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 8316

Re: Colleague being fleeced by insurance agent / Ponzi Schem

Sounds great for them. I would move along. Yup Might be an indexed annuity or some structured product. Regardless, when the 10 year treasury is yielding 2.4%, anything that is earning more than that requires "some" level of risk. The devil is in the details, and unless you want to be know as Mr Smartypants, I'd tread lightly. Some folks get turned off by Mr Smartypants with finance and some detest the health/fitness nuts that want to know how is your diet going. (I've got a great workout program for you...and the diet is unbelievable. 4 workouts a week (mixture of cardio, cross-fit & boot camp). The meal plan is gluten free and low carbs. The stuff you are doing is poisonous and terrible. You can do better, let me show you......
by TN_INVEST
Tue Aug 26, 2014 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Fee-Only Advisor Cost?
Replies: 26
Views: 3062

Re: Fee-Only Advisor Cost?

jcman01 wrote:
Would a fee-only advisor be worth the money, and what is the fee structure? Interesting in hearing opinions and experiences.
Cost is only an issue when value is in question.

Lots of folks find value in this sort of thing, while lots do not same with many other services out there (I mow my own grass, but won't cut my own hair, FWIW).

I'd say a professional (not a journeyman) will only be comfortable with a long term client relationship.
by TN_INVEST
Tue Aug 26, 2014 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 5241

Re: Life insurance with Long term care rider

celia wrote:
TN_INVEST wrote: if it helps folks get over the mental block of buying health insurance,
I assume you mean Long Term Care Insurance.

OK

Long term care insurance is a type of health insurance. Kinda like the rectangle/square stuff. I simply don't care to get all caught up in labels.
by TN_INVEST
Tue Aug 26, 2014 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Cash in Safe Deposit Box..??
Replies: 60
Views: 7132

Re: Cash in Safe Deposit Box..??

Cautious Optimist wrote:He dismissed me.
I'd tread lightly as to not over-step the boundaries of your friendship.

Same goes for the healthy diet & exercise folks.
by TN_INVEST
Fri Aug 22, 2014 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 5241

Re: Life insurance with Long term care rider

This type of insurance policy allows the death benefit to be paid before you die (to cover long term care expenses).

There are a couple other companies that have similar policies (Pacific Life, Genworth, Lincoln, etc.).

i kinda like em, and think it's a pretty "neat" concept. It's not perfect, but I think if it helps folks get over the mental block of buying health insurance, then that's a pretty good thing for most folks.
by TN_INVEST
Thu Aug 21, 2014 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 3953

Re: Do the mega wealthy need life insurance?

[quote="danieljquirk" Obviously, the need to provide for your family is not a reason. Maybe, if your assets aren't liquid (i.e. it is mostly land)? But lets assume most of your assets are liquid. Are there tax or estate-planning reasons to do it? Some folks like to give/pledge their assets to charity to avoid paying capital gains taxes while they are alive and "replace" that pledged asset with tax free life insurance death benefit. Stocks get a step up basis at death.[/quote] Yes, but they can't use the stocks while they are alive unless they sell em (and pay taxes). If they "pledge" em, they will get a tax write-off to offset gains they might have on other investments. Also, "pledging" the asset to ...
by TN_INVEST
Wed Aug 20, 2014 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 3953

Re: Do the mega wealthy need life insurance?

[quote="danieljquirk"
Obviously, the need to provide for your family is not a reason. Maybe, if your assets aren't liquid (i.e. it is mostly land)? But lets assume most of your assets are liquid. Are there tax or estate-planning reasons to do it? [/quote]


Some folks like to give/pledge their assets to charity to avoid paying capital gains taxes while they are alive and "replace" that pledged asset with tax free life insurance death benefit.
by TN_INVEST
Tue Aug 19, 2014 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Longer Term Investment Goals Progress Tracking
Replies: 20
Views: 2005

Re: Longer Term Investment Goals Progress Tracking

I think it's normal to treat folks that take things 4 places past the decimal point like Martians.
by TN_INVEST
Thu Aug 14, 2014 7:37 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2414

Re: How much life insurance? 29 year olds

YttriumNitrate wrote:How boglehead-ish are you with your savings rate? I was thinking about going with the 30 year term instead of the 20 year term until I realized that if I make it another 20 years the amount I'm getting insured for will likely be chump change.
As will the premiums and I bet the "value" of said life insurance will "increase" 20 years for now (most folks value their insurance a lil more once they get a few gray hairs). I just don't see a lot of 50 year old folks anxious to cancel a life insurance policy that was costing virtually nothing (the good news is that with a 30 year term, the policy owner has the option to keep or cancel).
by TN_INVEST
Wed Aug 13, 2014 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2414

Re: How much life insurance? 29 year olds

Elks22 wrote:All, I really appreciate these replies. Sounds like we have some thinking to do and it's not black and white in terms of choosing an amount/term. I do wish we had shopped around better for our current $250k term but oh well, we've learned. Thanks again.
Very few things are black and white (especially finances).
by TN_INVEST
Mon Aug 11, 2014 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2414

Re: How much life insurance? 29 year olds

I'd keep/get enough to pay off your mortgage.
by TN_INVEST
Mon Aug 11, 2014 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help me figure out how to sell investment advice legally
Replies: 12
Views: 2846

Re: Help me figure out how to sell investment advice legally

nobsinvestor wrote: Does this mean that as long as I take the Series 65 and register in my state and with the SEC, I can offer fee-only advice to any number of clients anywhere in the US?
Thanks guys!!
I'm pretty sure you will need to take the 65 & register with any state that you have clients as a Registered Investment Advisor before you can charge folks for advice. Most states don't require you to pay registration fee until you get a few clients in that state (not always the case with all 50 states).
by TN_INVEST
Thu Aug 07, 2014 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor's Tree
Replies: 44
Views: 6127

Re: Neighbor's Tree

I'm pretty sure that you can trim said limbs back to the property line.

I'm sure you can work something out with the neighbor (he might have no idea how you feel). He might even pay some (or all) of the costs of pruning...or at the very least he might allow you on his property to trim the tree.
by TN_INVEST
Fri Aug 01, 2014 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment on mortgage for a not-forever home?
Replies: 33
Views: 3427

Re: Prepayment on mortgage for a not-forever home?

MarieL wrote:Hi folks - My husband and I just purchased our first condo and we're trying to understand the pros and cons of making early payments on our mortgage.

For folks that stink at handling their money (most Americans...maybe/maybe not you), the best reason to prepay the mortgage is that it keeps folks from doing something stupid with their money.
by TN_INVEST
Fri Aug 01, 2014 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I become a CFP?
Replies: 27
Views: 8889

Re: Should I become a CFP?

My non-expert opinion is that certifications don't matter for someone in your position. All that matters is being willing to convince all your friends/relatives, and of course perfect strangers, to hand over their life savings to you. One percent of them will know or care what a CFP is. When it comes to 3 letters, BMW will probably get you more sales than CFP. You need to get credibility (initially) by affiliating with a huge, well-know financial firm - not just for the name, but for the glass, marble, and hardwood that goes with it. The notion that you're going to take a couple of classes, hang up a sign outside your house, and have people write you checks for millions of dollars, is just not going to happen, all good intentions aside. Ha...
by TN_INVEST
Fri Aug 01, 2014 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Medicaid look-back
Replies: 9
Views: 1645

Re: Medicaid look-back

richard wrote:Does the Medicaid five-year look back on asset transfers apply only to nursing home eligibility or does it apply generally, including to home care eligibility?
They will look back before paying for anything.
by TN_INVEST
Fri Aug 01, 2014 1:21 pm
Forum: Investing - Theory, News & General
Topic: ESA vs. 529 College Savings Plan
Replies: 2
Views: 734

Re: ESA vs. 529 College Savings Plan

js2012 wrote:I
My understanding of the ESA is that the money is in her name and she gets it at 18. If she doesn't go to school, it seems like she would still get the money.

I thought the ESA was for beneficiaries under the age 30 and that it could benefit another member of the family by changing the beneficiary.
by TN_INVEST
Mon Jun 16, 2014 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Advice re: Fixed Annuity Contract
Replies: 7
Views: 801

Re: Advice re: Fixed Annuity Contract

Another option might be to look at a low cost variable annuity & transfer the money.

Vanguard has an annuity with very low fees.
by TN_INVEST
Tue Jun 03, 2014 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Need advice on how to advise
Replies: 9
Views: 938

Re: Need advice on how to advise

Try not to be a Mr. Know-it-all. Money talks have a way of making folks uncomfortable. She may not want you to change from being her brother to being her financial advisor.
by TN_INVEST
Tue Jun 03, 2014 10:26 am
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 5052

Re: City Driver Hit My New Car. Diminished Value Advice?

I didn't know "diminished value" was an option, although I suffered a loss that should have applied. In the year 2000 my new truck was hit while parked by a drunk driver and the entire driver's side had to be replaced. I complained to the other driver's insurance and my own, as well as the court that the truck would never be worth as much. I was told by all concerned that there was no possibility of getting a judgement for diminished value. It was mentioned that depending on when I sold the truck the amount of reduced value was unknowable. I still have the truck BTW, and part of my decision not to sell it was the knowledge that it would be worth much less by having had such a significant repair. I live in California. I don't know...
by TN_INVEST
Mon Jun 02, 2014 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 5052

Re: City Driver Hit My New Car. Diminished Value Advice?

With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs. JT Perhaps. Given a choice between 2 vehicles (non sideswiped & sideswiped), most all folks would choose the non sideswiped vehicle. Some might even avoid buying a sideswiped vehicle altogether. My point, exactly. The OP asked if there was any diminished value. I think so. With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs. JT Perhaps. Given a choice between 2 vehicles (non sideswiped & sideswiped), most all folks would choose the non sideswiped vehicle. Some might even avoid buying a sideswiped ve...
by TN_INVEST
Mon Jun 02, 2014 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Timing of paying off extra mortgage principal
Replies: 9
Views: 3561

Re: Timing of paying off extra mortgage principal

guitarguy wrote:Good enough, thanks for the advice all.

I won't bother taking time to make the extra payment mid-month, especially since I'll have to write and mail a check to do it. Not worth my time and the cost of a stamp for such a small amount of savings.
Why not use online bill pay? Seems like every bank offers that service. I save lots on stamps and check refills by using my bank's online service.
by TN_INVEST
Wed May 28, 2014 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Cash in Safe Deposit Box..??
Replies: 60
Views: 7132

Re: Cash in Safe Deposit Box..??

Austintatious wrote:Since we've had mention of the utility of gold in cases of societal breakdown, can anyone explain how that gold would be converted into usable increments? Let's say, I've set aside some 1 ounce bars or some gold coins, buried in the backyard and certainly NOT stashed in that safe deposit box, that I intend to use in the coming catastrophe. How do I convert them into a unit of value with which I can buy something edible for my beleaguered loved ones, or a few pieces of firewood to cook it with? I've always had trouble understanding how that would work. Thanks!
A scale?

Or, they will probably just accept your entire bar or coin (no change provided).

Boot?
by TN_INVEST
Tue May 20, 2014 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 5052

Re: City Driver Hit My New Car. Diminished Value Advice?

bottlecap wrote:With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs.
JT
Perhaps.

Given a choice between 2 vehicles (non sideswiped & sideswiped), most all folks would choose the non sideswiped vehicle. Some might even avoid buying a sideswiped vehicle altogether.
by TN_INVEST
Wed May 14, 2014 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep some money in a local bank?
Replies: 47
Views: 4914

Re: Should I keep some money in a local bank?

schoolboyguy wrote:
Thoughts?
My thought: There is virtually no downside to keeping $1,000 in your local bank. Now, carry on. :happy