Search found 53 matches

by mc510
Mon Aug 31, 2020 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Does refi on current house impede getting new-purchase mortgage soon after?
Replies: 6
Views: 408

Re: Does refi on current house impede getting new-purchase mortgage soon after?

I sure hope not. I'm in the exact same boat as you. Have you ever heard anything that suggests a possible issue? There was something that a previous mortgage broker told me that I don't fully remember -- something about a mortgage needing to "age" before something else can happen -- and it's got me...
by mc510
Mon Aug 31, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Does refi on current house impede getting new-purchase mortgage soon after?
Replies: 6
Views: 408

Does refi on current house impede getting new-purchase mortgage soon after?

I'm in closing process to refinance the mortgage on our current home. Life is uncertain at the moment and there's some chance that we might want to move to a new house in the next year. The refi is basically zero cost, so there's no loss from cutting out early, but I'm just now wondering if having r...
by mc510
Sat Aug 01, 2020 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6848
Views: 454639

Re: Refinance Mega Thread

I've got a satisfactory Loan Estimate from Watermark (15 fixed @ 2.25%, no points, A+B+C = $2,564, lender credit $2,669, estimated cash to close from borrower $1,222) but now that I'm going through the disclosures I see that the Uniform Residential Loan Application form lists totally different (and...
by mc510
Sat Aug 01, 2020 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 6848
Views: 454639

Re: Refinance Mega Thread

I've got a satisfactory Loan Estimate from Watermark (15 fixed @ 2.25%, no points, A+B+C = $2,564, lender credit $2,669, estimated cash to close from borrower $1,222) but now that I'm going through the disclosures I see that the Uniform Residential Loan Application form lists totally different (and ...
by mc510
Sat Aug 01, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a standard escrow authorization for mortgage refi?
Replies: 0
Views: 185

Is this a standard escrow authorization for mortgage refi?

Got a stack of forms to sign from Watermark for a refi, and I'm wondering about the one authorizing escrow actions. It's probably standard and exactly what is needed for escrow to proceed, but I don't really know what it means so just want to get confirmation: AN ESCROW HAS BEEN OPENED BY FIDELITY N...
by mc510
Mon Jun 29, 2020 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Forgot to start quarterly income tax payments this year, is it too late?
Replies: 8
Views: 1119

Forgot to start quarterly income tax payments this year, is it too late?

Last year we got dinged with an underwithholding penalty, which I think was the result of employment changes and substantial increases in mutual fund distributions. I meant to start quarterly estimated payments, but didn't get around to it :oops: . Is it too late to start up and avoid a penalty for ...
by mc510
Fri May 08, 2020 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: First time home sale, Qs about using Realtor [SF Bay Area]
Replies: 8
Views: 532

Re: First time home sale, Qs about using Realtor [SF Bay Area]

Sandi_k wrote: Fri May 08, 2020 2:40 pm You're in California. FSBO is freighted with issues regarding required disclosures by law.
Totally agree. I am not considering FSBO; will use a licensed agent.
by mc510
Fri May 08, 2020 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: First time home sale, Qs about using Realtor [SF Bay Area]
Replies: 8
Views: 532

Re: First time home sale, Qs about using Realtor [SF Bay Area]

bloom2708 wrote: Fri May 08, 2020 11:46 amThis might be an interesting time to try to sell. Do you want open houses and people traipsing through your house right now? Hard questions.
We will be out of the house before it is put on the market (standard in the local market), so no worries about the other people in the house
by mc510
Fri May 08, 2020 11:04 am
Forum: Personal Finance (Not Investing)
Topic: First time home sale, Qs about using Realtor [SF Bay Area]
Replies: 8
Views: 532

First time home sale, Qs about using Realtor [SF Bay Area]

I'm approaching selling a home for the first time in a part of the SF Bay Area where a small single family home is typically at least a million dollars and where inventory is typically extremely tight. I suppose customary practices probably vary by region, but if it's possible to generalize -- or if...
by mc510
Wed Apr 01, 2020 11:19 am
Forum: Investing - Theory, News & General
Topic: [Why aren't forum members following the "Stay the course" approach?]
Replies: 372
Views: 26139

Re: [Why aren't forum members following the "Stay the course" approach?]

And not to forget, you would have a huge "realized" tax liability while betting on that in mid-February, for a few months of stagnant market (at the time, stagnant market was one of the options without the hindsight of today). This is especially true since you stated you've held those investments s...
by mc510
Wed Apr 01, 2020 10:46 am
Forum: Investing - Theory, News & General
Topic: [Why aren't forum members following the "Stay the course" approach?]
Replies: 372
Views: 26139

Re: [Why aren't forum members following the "Stay the course" approach?]

To OP, it's because most investors tend to overestimate their risk tolerance. It's very common. This might be the same thing said a different way, but I underestimated the range of possible risks. I had pretty much discounted that there would be a bear market/recession of the Great Depression magni...
by mc510
Tue Mar 10, 2020 11:22 am
Forum: Personal Investments
Topic: What special assistance/advice does VG Flagship provide gratis?
Replies: 3
Views: 414

Re: What special assistance/advice does VG Flagship provide gratis?

As you can see on VG's View benefits at a glance page not much of the extras are free, rather fee-based. Access to a financial advisor used to be free for a specific question, but not sure of meaning of this recent change to Contact a Vanguard specialist. Ah, thanks; that page is more informative t...
by mc510
Mon Mar 09, 2020 3:56 pm
Forum: Personal Investments
Topic: What special assistance/advice does VG Flagship provide gratis?
Replies: 3
Views: 414

What special assistance/advice does VG Flagship provide gratis?

I've never used any services through my Vanguard Flagship account, but family finances are starting to get a bit more complex and I anticipate requiring advice and assistance. Vanguard says that specialists are available to Flagshippers "in areas like estate planning, trust services, financial plann...
by mc510
Sun Mar 08, 2020 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to spread cap gains from investment prop over several years?
Replies: 4
Views: 302

Re: Possible to spread cap gains from investment prop over several years?

Making it a 1031 exchange into a cheaper property and only pay taxes on the leftover, or into several properties and then sell those over multiple years? Not a real estate guy, the only way I could think of to do it. That's actually pretty clever and does indeed accomplish the goal! Kind of a PITA,...
by mc510
Sun Mar 08, 2020 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Possible to spread cap gains from investment prop over several years?
Replies: 4
Views: 302

Possible to spread cap gains from investment prop over several years?

I suspect the answer is "no," but can't hurt to ask. Is there a way to spread a large capital gain from sale of an investment property over several years to avoid being pushed into 3.8% surcharge or the 20% rate for the total amount in one year (not counting 1031 exchange)?
by mc510
Wed Feb 12, 2020 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to bridge-finance a home purchase?
Replies: 10
Views: 687

Re: How to bridge-finance a home purchase?

Unless you're planning to move back to this house in the future, I can't see how it would make sense to rent it. Sell it, take the cap gains while you can exclude them, and move on. If you want to avoid a selling contingency on your new house offer, pull a HELOC on old house to finance new house do...
by mc510
Wed Feb 12, 2020 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: How to bridge-finance a home purchase?
Replies: 10
Views: 687

Re: How to bridge-finance a home purchase?

@GT99 - Thanks, good to know. Equity in current home would cover only about 1/2 of the purchase cost of the new home, so that's why my thinking went to borrowing against the much larger investment portfolio. @Millenial - my understanding is that we wouldn't be able to qualify for a mortgage to buy t...
by mc510
Wed Feb 12, 2020 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to bridge-finance a home purchase?
Replies: 10
Views: 687

How to bridge-finance a home purchase?

My family is ready to relocate from our current home, which is still on mortgage but if rented would easily be cash-flow positive. We've also got substantial investments such that we could purchase a new house with cash by selling about 1/3 of our taxable portfolio investments, but we'd rather not t...
by mc510
Thu Sep 26, 2019 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Comparison shopping method for home/auto/umbrella insurance?
Replies: 13
Views: 1047

Comparison shopping method for home/auto/umbrella insurance?

My spouse has always handled this, but now it's on me to do some fresh comparison shopping for our home/auto/umbrella insurance. What's the best method, balancing effectiveness with effort? Is it to have an independent agent run comparisons from their insurers, and then directly contact some other c...
by mc510
Tue Mar 26, 2019 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 37097

Re: [2018 tax return - How does it compare to previous years?]

I live in a high SALT state, so loss of these deductions was not favorable to us. We ended up taking the standard deduction. What we didn't realize until we met with our accountant was that we were also losing personal exemptions to the tune of an additional $8100 in deductions. Bottom line, we pai...
by mc510
Tue Mar 26, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 37097

Re: [2018 tax return - How does it compare to previous years?]

A little hard to precisely parse out the effect of tax law changes, as we had a bump in income due to (temporary) two earners, but overall this feels bad: AGI increased 45% from 2017 to 2018 (from just barely into the 25% bracket, to just barely into the new 24% bracket) Taxable income increased 102...
by mc510
Wed Mar 20, 2019 12:15 pm
Forum: Personal Investments
Topic: Confused about reporting excess Roth IRA contribution
Replies: 0
Views: 382

Confused about reporting excess Roth IRA contribution

First time I've run into this, I didn't even know it was a thing until TurboTax alerted me :oops: The details: Made my 2018 Roth IRA contribution in early 2019; put it into Prime Money Market for the time being. Same day I realize mistake, call Vanguard, they can't cancel it so I tell them to withdr...
by mc510
Sat Mar 16, 2019 1:30 pm
Forum: Personal Investments
Topic: Spending (not reinvesting) fund distributions -- does this make sense?
Replies: 9
Views: 548

Re: Spending (not reinvesting) fund distributions -- does this make sense?

This is certainly more optimal and I’d do the same. Better question is why do you have taxable funds generating significant cap gains? Active funds? Most of the distributions are coming from VTSAX. I suppose it's debatable how "significant" the amounts are, but relative to wage income they feel sig...
by mc510
Sat Mar 16, 2019 12:31 pm
Forum: Personal Investments
Topic: Spending (not reinvesting) fund distributions -- does this make sense?
Replies: 9
Views: 548

Spending (not reinvesting) fund distributions -- does this make sense?

Spouse and I are currently on one income which is just about sufficient for us if we stop making any 401k contributions. We felt okay doing this because the job includes a defined benefit pension, and we already have quite comfortable retirement savings. At the same time, however, we've been getting...
by mc510
Fri Sep 14, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly tax payments for self-employment income?
Replies: 5
Views: 370

Re: Quarterly tax payments for self-employment income?

Thanks; that's what I thought but good to have it confirmed.

Thanks also for the reminder about my wife's possibly lower withholding due to tax cut, I forgot about that and will have to check it out!
by mc510
Fri Sep 14, 2018 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Quarterly tax payments for self-employment income?
Replies: 5
Views: 370

Quarterly tax payments for self-employment income?

Hi all, I hope this is a simple enough question that it can be easily answered. My wife works, I do not, we file as Married Filing Jointly, we do not pre-pay quarterly (which has worked fine for us so far). I have a little bit of self-employment income this year; it's more than $400 so I do need to ...
by mc510
Fri Apr 13, 2018 10:56 am
Forum: Personal Consumer Issues
Topic: Farewell gift for office when quitting job?
Replies: 19
Views: 2971

Re: Farewell gift for office when quitting job?

Thanks all for the thoughts and experiences. I can add some additional details that relate. The office will be doing a farewell event for me, probably with a gift, if tradition is followed. These event are, as some noted, awkward, though here at least they are heartfelt. We're a small (30ish) tight-...
by mc510
Thu Apr 12, 2018 6:37 pm
Forum: Personal Consumer Issues
Topic: Farewell gift for office when quitting job?
Replies: 19
Views: 2971

Farewell gift for office when quitting job?

I'm leaving a job that I've had for a long time, fairly small tight-knit organization and I'd like to give "the office" a nice farewell gift. I'm imagining something that would stay at the office (i.e., not a bottle of wine for each colleague). Maybe between $100 and $200. Break room already has two...
by mc510
Tue Feb 07, 2017 4:04 pm
Forum: Investing - Theory, News & General
Topic: [Seth Klarman NY Times Article]
Replies: 19
Views: 2498

Re: Seth Klarman on problem with index funds

Okay, turns out I didn't have to look very far down the message list to find a discussion on exactly this question .... so, sorry about the redundant post! Was going to go back and delete it, but y'all are too quick with the replies :wink:
by mc510
Tue Feb 07, 2017 3:52 pm
Forum: Investing - Theory, News & General
Topic: [Seth Klarman NY Times Article]
Replies: 19
Views: 2498

Seth Klarman on problem with index funds

[Thread merged into here, see below. --admin LadyGeek] From yesterday's NYT Dealbook article : “One of the perverse effects of increased indexing and E.T.F. activity is that it will tend to ‘lock in’ today’s relative valuations between securities,” Mr. Klarman wrote. “When money flows into an index...
by mc510
Sun Apr 24, 2016 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Service to simplify brokerage statements for mom?
Replies: 12
Views: 1418

Re: Service to simplify brokerage statements for mom?

I've done this for my 90-year old mother. I converted all her accounts to e-Statements only, and every month I login to her accounts, check over everything, and send her a (simplified) monthly summary. I also changed her contact email to an account I manage for her and she cannot see. She was going...
by mc510
Thu Apr 21, 2016 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Service to simplify brokerage statements for mom?
Replies: 12
Views: 1418

Re: Service to simplify brokerage statements for mom?

In any case, why don't you opt out, set up an online account that will allow you to print out the statements, and then see if you can use a marker to highlight the important numbers for her. Yeah, this is my fallback if I can't find a way to easily generate very simple statements. What about someth...
by mc510
Thu Apr 21, 2016 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Service to simplify brokerage statements for mom?
Replies: 12
Views: 1418

Service to simplify brokerage statements for mom?

My elderly mother's investments are managed by a Royal Alliance broker. My mom suffers from moderate cognitive impairment and she finds the Royal Alliance monthly statements to be very confusing; because she can't understand the statements, she becomes worried and suspicious about her investments. F...
by mc510
Sun Jan 03, 2016 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 7023

Re: What to do for elderly parent, if they reject help?

Hey, OP here. Thanks all for the advice and well wishes. In reference to a few points that have come up several times: I've visited with her recently and have observed her behavior first hand over a period of days. I don't think it's appropriate for me to go into it in detail here, but it's worrying...
by mc510
Sun Jan 03, 2016 9:28 am
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 7023

Re: What to do for elderly parent, if they reject help?

As delamer said and said well, there is probably a county agency where she lives that deals with and assesses the elderly. We have one where I work and they will go right to the persons house to meet with them when a referral is made. I've actually not been able to connect with such an agency in he...
by mc510
Sun Jan 03, 2016 1:08 am
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 7023

Re: What to do for elderly parent, if they reject help?

Then, one day I took her for a dr. Appointment. She acted perfectly normal during the visit, and I know he thought she was fine (she was, physically). After the visit, I wrote him a letter giving examples of her behavior. When I took her back two weeks later, he very skillfully asked her some very ...
by mc510
Sat Jan 02, 2016 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 7023

Re: What to do for elderly parent, if they reject help?

Thanks all, good to know about alz.org; I'll check out the forums there. And I guess I need to get in contact with an attorney. Having never consulted an attorney in my life, this is a step that I've been putting off. @EagerToLearnMore, you are right on the money about my mom reacting poorly to thin...
by mc510
Sat Jan 02, 2016 10:41 am
Forum: Personal Finance (Not Investing)
Topic: What to do for elderly parent, if they reject help?
Replies: 54
Views: 7023

What to do for elderly parent, if they reject help?

My mom is 85, lives six hours from me (both in California), and has quite good physical health. She lives alone in her fully paid-off house, gets social security, a small pension, and has very good savings. Problem is she has greatly diminished mental capacity, and things are worsening. She is very ...
by mc510
Wed Jul 08, 2015 11:49 am
Forum: Personal Consumer Issues
Topic: Affordable sheets, 100% guarantee?
Replies: 17
Views: 6180

Re: Affordable sheets, 100% guarantee?

Thanks folks; lots of great ideas. For me, a 100% satisfaction guarantee is essential. We've been getting the sort of sheets that lots of folks here mentioned--100% cotton, 400+ thread count, on sale for $40 to $60--and they are fine for Mrs. mc510 but pill like crazy on my side. So I take nothing f...
by mc510
Mon Jul 06, 2015 10:35 pm
Forum: Personal Consumer Issues
Topic: Affordable sheets, 100% guarantee?
Replies: 17
Views: 6180

Affordable sheets, 100% guarantee?

Every set of sheets that I've been through in the past 10 years has rapidly pilled up. Admittedly, we've been buying fairly low priced sheets; I'm willing (and ready) to spend a bit more, but I want to have a full-satisfaction guarantee in case they pill up on me. Any suggestions for reasonably pric...
by mc510
Mon Feb 23, 2015 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Spending trajectory for families with kids?
Replies: 45
Views: 9246

Re: Spending trajectory for families with kids?

Perfect; thanks livesoft!
by mc510
Mon Feb 23, 2015 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Spending trajectory for families with kids?
Replies: 45
Views: 9246

Spending trajectory for families with kids?

I've got two kids (4 and 6) and I'm wondering, for purposes of financial/work/retirement planning, how my family's expenditures are likely to evolve over time as the kids age. We currently spend something like $20K to $25K a year on everything other than housing, savings, taxes. As the kids grow, we...
by mc510
Thu Jan 01, 2015 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Checklist of info to have on elderly parent?
Replies: 20
Views: 3729

Re: Checklist of info to have on elderly parent?

Thought I'd add here that I've found that AARP offers a free and very comprehensive form; just Google "AARP Confidential Organizer". It's going to meet my needs quite nicely.
by mc510
Mon Sep 08, 2014 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Checklist of info to have on elderly parent?
Replies: 20
Views: 3729

Re: Checklist of info to have on elderly parent?

Thanks everyone, this is really very helpful. There's nothing that's going to make this easy or pleasant, and my mom is going to make it as difficult as possible (not maliciously or intentionally), but these are helpful tips and things to think about.
by mc510
Tue Sep 02, 2014 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Checklist of info to have on elderly parent?
Replies: 20
Views: 3729

Checklist of info to have on elderly parent?

My 80-something year old mother is very resistant to preparing for the inevitable decline in health and mental capacity. Responsibility will fall to me, so I figure that the best that I can do at the moment is to collect the information that I will need to act on her behalf. Is there a good checklis...
by mc510
Sat Jul 07, 2012 9:09 pm
Forum: Personal Investments
Topic: Diversifying away from Vanguard?
Replies: 35
Views: 4360

Re: Diversifying away from Vanguard?

Ah, sorry; I didn't anticipate that this was a regularly discussed question! Thanks for your patience and your responses; I'm pretty well reassured. Plus about 25% of my portfolio is, for the foreseeable future, locked into a Fidelity 401(k), so I've got that minimum amount of non-Vanguard diversity.
by mc510
Sat Jul 07, 2012 4:09 pm
Forum: Personal Investments
Topic: Diversifying away from Vanguard?
Replies: 35
Views: 4360

Diversifying away from Vanguard?

Thanks to this group and the Boglehead books, I'm on a mission to convert my current hodge-podge of many random funds and accounts into a rational portfolio of a small number of low fee Vanguard index funds. My wife, who has her own hodge-podge, asked: isn't it safer that we have some funds that are...
by mc510
Sun Jun 10, 2012 11:39 pm
Forum: Personal Investments
Topic: TRP x-ray still available to non-customers?
Replies: 6
Views: 925

Re: TRP x-ray still available to non-customers?

Thanks tomd37, as you suggested I googled for "Troweprice Portfolio X-ray" and the second hit gave me a page where I could create a new non-customer account that allows x-ray access. Impossible to find this page by clicking around on troweprice.com; give the google a try gkaplan.