Search found 2376 matches

by J295
Mon May 25, 2020 2:05 pm
Forum: Personal Investments
Topic: Any suggestions for the homestretch of my retirement plan?
Replies: 21
Views: 1588

Re: Any suggestions for the homestretch of my retirement plan?

Lots of good insights in the responses, and I can tell OP has a solid handle on things. So, I’ll try and add something new… 1. When I went away from full-time work at age 53 health insurance was a big unknown (and it still is a big unknown for us now at age nearly 61) ..... Nonetheless, we were read...
by J295
Mon May 25, 2020 10:43 am
Forum: Investing - Theory, News & General
Topic: My Road to Investment Success
Replies: 29
Views: 3740

Re: My Road to Investment Success

Taylor = Class Act
by J295
Mon May 25, 2020 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Last-minute lien on home found - sign (as seller) anyway?
Replies: 13
Views: 1527

Re: Last-minute lien on home found - sign (as seller) anyway?

Does the buyer's attorney expect to close tomorrow?? As a seller, you are required to convey good and marketable title. You run the risk that by closing tomorrow they use the proceeds that would otherwise be due to the estate/heirs to pay off the lien with Wells Fargo. The issue needs to be resolve...
by J295
Mon May 25, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Last-minute lien on home found - sign (as seller) anyway?
Replies: 13
Views: 1527

Re: Last-minute lien on home found - sign (as seller) anyway?

FoolStreet wrote:
Mon May 25, 2020 10:08 am
I would want a payoff notice from Wells Fargo, first.
Why?

If there is a legitimate debt secured by thelien, it will need to be paid off with sale proceeds. The estate cannot trump a legitimate lien. Apparently, Op is confident there is no debt secured by the lien.
by J295
Mon May 25, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Last-minute lien on home found - sign (as seller) anyway?
Replies: 13
Views: 1527

Re: Last-minute lien on home found - sign (as seller) anyway?

You state the balance was paid off. I understand that to mean that the balance due on the debt secured by the lien is $0 If those are the facts, and I am selling, I close. I don’t want to gum up for sale. Work with the title company to satisfy the requirements to have the closing time will occur. Fa...
by J295
Sat May 23, 2020 8:30 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime delayed shipping
Replies: 38
Views: 2517

Re: Amazon Prime delayed shipping

Fine waiting .... I am generally unsympathetic with those who complain about life’s minor inconveniences ....
by J295
Sat May 23, 2020 9:49 am
Forum: Personal Investments
Topic: Does larger portfolio make one more or less risk tolerant
Replies: 25
Views: 1948

Re: Does larger portfolio make one more or less risk tolerant

Personally less risk upon transition from full time work at 53.
Have enough.
by J295
Sat May 23, 2020 7:31 am
Forum: Personal Investments
Topic: Thinking of selling some SP 500 to buy more Wells Fargo
Replies: 73
Views: 4727

Re: Thinking of selling some SP 500 to buy more Wells Fargo

Here’s a different take on analysis of a Wells Fargo investment… I do not support the way they run their business, and it’s more than just the fiasco a couple of years ago with the fake accounts, so for that reason alone I would not make a investment in WFC .... by way of further example, I would no...
by J295
Mon May 18, 2020 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Discarding old tax returns
Replies: 62
Views: 5477

Re: Discarding old tax returns

Of course, these days the paper we have is minimal as most things are electronic. Having said that though, whatever paper we do have is shredded when it is seven years old. Indeed you can make a hypothetical about how having something older than seven years could someday be valuable and helpful… And...
by J295
Sun May 17, 2020 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: How did you set up your trust distributions?
Replies: 39
Views: 2488

Re: How did you set up your trust distributions?

When our children were young, we provided that if there was no surviving spouse assets would be placed in trust for the three children. A single trust with each child having a separate share. All income would be distributed annually, and principal could be a invaded per an ascertainable standard. Th...
by J295
Sat May 16, 2020 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 1893

Re: Cost of revocable trusts, wills, estate planning

As I understand it, first marriage and two children and a comfortable asset amount. In that situation we used “I love you” wills with testamentary trusts, along with general durable powers of attorney and powers of attorney for healthcare. Ultimately I think it comes down to your objectives and how ...
by J295
Sat May 16, 2020 1:59 pm
Forum: Personal Consumer Issues
Topic: How did you feel after giving notice to retire?
Replies: 52
Views: 4290

Re: How did you feel after giving notice to retire?

Always planned to exit before typical retirement age, and In fact transitioned from full-time at age 53. Did have a few different emotions (mostly a bit of uncertainty, even though I knew it was right for me/us) in the five years planning before then. I asked an early retiree about this uncertainty ...
by J295
Sat May 16, 2020 12:39 pm
Forum: Personal Consumer Issues
Topic: Roofing job -- what to know when paying final balance ?
Replies: 15
Views: 892

Re: Roofing job -- what to know when paying final balance ?

Did you discuss with your roofing contractor a lien waiver from both the contractor and materials supplier upon final payment? Thanks . Do you mean lien waver from the main contractor or the sub-contractor crew? Do you even have a subcontractor? Generally, a homeowner on a construction or renovatio...
by J295
Sat May 16, 2020 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Rent is increased by 6%, negotiation tips?
Replies: 60
Views: 5087

Re: Rent is increased by 6%, negotiation tips?

Just a data point. Daughter and son in law in bay area got notice about six months ago of a rent increase from $4000 up to I think it was about 4500. Daughter looked at new offerings online in the same building and saw that they were going for $4000 so she said she would move to one of those units, ...
by J295
Sat May 16, 2020 10:05 am
Forum: Personal Investments
Topic: Please tell me I'm not crazy [Best way to manage an EF?]
Replies: 171
Views: 10360

Re: Please tell me I'm not crazy

Six month decision… Excellent

Online savings account is a very reasonable choice
by J295
Thu May 14, 2020 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home - low ball negotiation
Replies: 145
Views: 12049

Re: Selling home - low ball negotiation

If you have a good agent, he/she should be able to help you. There are important details that just can’t be conveyed in a forum like this so any responses here will be of marginal use. For example, the local market for homes in your price range is a critical part of your evaluation, as is the reason...
by J295
Wed May 13, 2020 12:30 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 10764

Re: Dentist charges $10 for PPE

I would have no problem paying the extra $10 for a variety of reasons.

It seems that one option for you is to switch to another dentist if this is a game changer for you.
by J295
Mon May 11, 2020 12:11 pm
Forum: Personal Consumer Issues
Topic: Got divorced how to get most value for exes wedding ring
Replies: 42
Views: 5078

Re: Got divorced how to get most value for exes wedding ring

I have sold jewelry (diamond rings, bracelets, earrings) as a bankruptcy trustee back in my pre-retirement days. Best results were putting them on an auction (auctioneer places them on an estate sale of high end property). Local jewelers and and local retail customers show up and bid. My auctioneer ...
by J295
Mon May 11, 2020 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8891

Re: Should we create a testamentary trust for $6M estate?

No. I would not recommend mandating distribution at specified ages. I would strongly discourage it. A nationally prominent lawyer, now retired, said that if the client insisted on it, he would refuse to draft it, and tell the client to find another lawyer. Perhaps I'm not understanding this from Bs...
by J295
Fri May 08, 2020 10:08 pm
Forum: Personal Investments
Topic: MLPs in SEP IRA Transfer
Replies: 3
Views: 196

Re: MLPs in SEP IRA Transfer

Regardless of the transfer, you should get a handle on the proper required documentation and taxation (if any) created by having the MLPs in a tax-deferred account(our solution was never to hold MLPs in a tax deferred account).
by J295
Fri May 08, 2020 10:01 pm
Forum: Personal Investments
Topic: Question on re-balancing due to current economic climate?
Replies: 12
Views: 806

Re: Question on re-balancing due to current economic climate?

You state ..... Because the overwhelming odds, point to use entering a financial crisis after this. I would rather bet on that, then things just going back to an upward trajectory right away..... Just curious how you determined there are “ .... overwhelming odds to us entering a financial crisis aft...
by J295
Fri May 08, 2020 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Is my CPA overcharging me?
Replies: 24
Views: 3145

Re: Is my CPA overcharging me?

When I was a practicing lawyer I would not bill for this type of request. It must have happened sometime during my 30 year career, but honestly I can’t remember any material fee issues. To my way of thinking billing you for the time to respond is a clear message… The CPA would like you to move on to...
by J295
Fri May 08, 2020 6:26 pm
Forum: Personal Investments
Topic: Why Make Portfolio Safer (More Bonds) as I age?
Replies: 35
Views: 3047

Re: Why Make Portfolio Safer (More Bonds) as I age?

Only if you are a golfer .... If the statistics for your handicap indicate that if you go for a certain per five in two your stroke average will be 4.5, but if you lay up and go for it and three your stroke average will be 4.8. However, if you go for it in two you’ll have more birdies, but also more...
by J295
Wed May 06, 2020 8:04 pm
Forum: Personal Investments
Topic: $2M Real Estate Sale - how to handle
Replies: 33
Views: 3878

Re: $2M Real Estate Sale - how to handle

Do you have an opinion from a qualified tax attorney or accountant that the transactions will qualify for 1031 ? Your description, as I understand it, references a family real estate asset and depending upon precise facts can be tricky and problematic.
by J295
Tue May 05, 2020 6:56 pm
Forum: Investing - Theory, News & General
Topic: Bonds Beat Stocks Over the Last 20 Years
Replies: 42
Views: 4065

Re: Bonds Beat Stocks Over the Last 20 Years

Call_Me_Op wrote:
Tue May 05, 2020 5:04 pm
Cherry-picking time periods can yield all sorts of results.
Yep
by J295
Mon May 04, 2020 8:28 pm
Forum: Personal Consumer Issues
Topic: HVAC Experts
Replies: 13
Views: 1756

Re: HVAC Experts

Really great of all of you to take the time to give thoughtful responses. Your information along with that of my friend who spent his career with the local natural gas company has me going in the right direction
by J295
Mon May 04, 2020 10:58 am
Forum: Personal Consumer Issues
Topic: Considering getting an espresso maker - thoughts?
Replies: 52
Views: 2834

Re: Considering getting an espresso maker - thoughts?

We like our Racillio. I think it cost about $1000. We buy whole beans and grind fresh to use each day.
by J295
Fri May 01, 2020 4:58 pm
Forum: Personal Consumer Issues
Topic: HVAC Experts
Replies: 13
Views: 1756

HVAC Experts

Going to put a new HVAC system in our 2800 square foot townhome in Nebraska (think below zero in winter, and over 100° in summer with high humidity). Two floors. No basement. Gas heat.

Can you provide any guidance on the unit we should be searching for ?
by J295
Thu Apr 30, 2020 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Proof of ownership and paper statements
Replies: 25
Views: 1748

Re: Proof of ownership and paper statements

Electronic is fine. A number of ways to prove ownership and manage this that are not in the least bit complicated.

If paper makes someone feel materially more secure, and then have at it. Not necessary for me to sleep well.
by J295
Tue Apr 28, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: how to set up self employed business?
Replies: 25
Views: 901

Re: how to set up self employed business?

The LLC limits your personal liability. Only the company is liable. From NOLO: "There is one extremely significant exception to the limited liability provided by LLCs. This exception exists in all states. If you form an LLC, you will remain personally liable for any wrongdoing you commit during the...
by J295
Sun Apr 26, 2020 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: FDIC Insurance and Fintech/Sweep accounts
Replies: 2
Views: 214

Re: FDIC Insurance and Fintech/Sweep accounts

I can’t answer the technical aspects of your question, but you may want to google the CDARS program through the FDIC. For example, with our local bank, one can participate in this program and make a CD deposit of $X million dollars and it’s all fully FDIC insured. The customer receives one statement...
by J295
Wed Apr 22, 2020 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: Surprised that there is no esponsibility to track down beneficiaries on death

Actionable response .... 1. Tell your designated beneficiaries about your accounts. 2. If you don’t want to do number one write the information down and place it where it can be located upon your death. Seriously, this is not complicated. If someone is old enough and intelligent enough to make a ben...
by J295
Mon Apr 20, 2020 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney to sell Real Estate in MA during Pandemic
Replies: 11
Views: 643

Re: Durable Power of Attorney to sell Real Estate in MA during Pandemic

As is usually the case, BSteiner is quite helpful. You reference the buyer’s lender. Personally, I wouldn’t be very interested one way or the other in the opinion of the buyer’s lender. Instead, I’d be highly interested in a commitment from the title insurance company that they will provide standard...
by J295
Mon Apr 20, 2020 7:57 pm
Forum: Investing - Theory, News & General
Topic: Did any Bogleheads blink?
Replies: 42
Views: 3952

Re: Did any Bogleheads blink?

Triple digit golfer wrote:
Tue Apr 14, 2020 4:09 pm

This is one instance where "tuning out the noise" and only checking once per year could cost the investor a couple bucks.
Maybe, or maybe not… The final chapter hasn’t been written yet.
by J295
Mon Apr 20, 2020 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: How concerned should I be about being over the FDIC Insurance Limit
Replies: 11
Views: 1182

Re: How concerned should I be about being over the FDIC Insurance Limit

How concerned should you be? Statistically, the likelihood of any single randomly designated bank failing is currently quite low. It’s impossible to estimate the likelihood failure of your (unknown to us) financial institution. The impact of a failure on you would likely be considered rather signifi...
by J295
Sun Apr 19, 2020 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Estate questions
Replies: 17
Views: 1793

Re: Estate questions

Do a Google search of small estate affidavit for your particular state
by J295
Tue Apr 14, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13464

Re: How many paid for kids' college?

My parents were not college-educated. I was the first one to attend, and they paid for it. One of my wife’s parents did have a college education, and they paid for her to attend college. We paid for one of our three to go to a private school. The other two had full scholarships, one athletic one aca...
by J295
Tue Apr 14, 2020 1:16 pm
Forum: Personal Consumer Issues
Topic: Florida HOA complaining of Weeds in Lawn
Replies: 101
Views: 8738

Re: Florida HOA complaining of Weeds in Lawn

OP. You state you get multiple notices then you call the lawn guy… It might be prudent to consider whether or not this is on you and not on the board… hiring a capable person to take care of the lawn is not a difficult proposition. (in another post you stated you like to spray the whole yard with ro...
by J295
Mon Apr 13, 2020 6:47 pm
Forum: Personal Consumer Issues
Topic: Is my hair dresser getting paid?
Replies: 13
Views: 1662

Re: Is my hair dresser getting paid?

Generally speaking, an independent contractor can make it an application under the payroll protection provisions. However, their life is still disrupted. If you believe you can afford it, sending him/her funds to pay for the haircut you’re not getting but would’ve gotten would not only help financia...
by J295
Mon Apr 13, 2020 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: When Does a Trust Become Worth It?
Replies: 71
Views: 6035

Re: When Does a Trust Become Worth It?

At 500k, 1MM, 2MM, 5MM? In case I died, I already have beneficiaries in my accounts but as I age, maybe it'd be best structured differently. It would mostly be to keep wealth in the family, give family annual distributions of 3% of account value at year end, only goes to blood descendants and mostl...
by J295
Sun Apr 12, 2020 8:53 pm
Forum: Personal Investments
Topic: FOMO Help - $1M to invest after avoiding all of the downturn
Replies: 57
Views: 5367

Re: FOMO Help - $1M to invest after avoiding all of the downturn

Respectfully, “FOMO” is simply an emotion and not a rational motivation for an investment decision.

Many find a well designed investment policy statement to be helpful.
by J295
Sun Apr 12, 2020 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Holding Restaurant - Gift Cards From Bankrupt Co - Logan's Roadhouse
Replies: 23
Views: 2092

Re: Advice on Holding Restaurant - Gift Cards From Bankrupt Co - Logan's Roadhouse

If you do want to see if you can get some recovery, check on the status of the bankruptcy every couple of months. Past bankruptcy cases have, in certain instances, given gift card holders priority treatment pursuant to section 507 of the bankruptcy code. The term priority is a bankruptcy term of art...
by J295
Sun Apr 12, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

You get better care if your relatives visit you often. But your post title is about wealth preservation, not quality of life. For whom are you preserving your wealth, and why? Quality-of-life is absolutely important also. For whom: Would like to preserve wealth for the non-institutional spouse and ...
by J295
Sat Apr 11, 2020 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

Appreciate the sharing… Especially those posts with some thoughts on the quality of care and the financial planning considerations.

FWIW, our family, like many others, has had experience with long-term care facilities (five years memory care).
by J295
Fri Apr 10, 2020 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

All ... thank you for responding… You have given me some good things to follow up on…
by J295
Fri Apr 10, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

Medicaid is the federal/state program that covers long-term care for those who have spent down their assets. Your first step should be to check out the Medicaid regulations in your state to see what benefits you might be eligible for at what income/asset levels. Means tested Medicaid not an option....
by J295
Fri Apr 10, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Re: Wealth Preservation With Decades of Institutional Care

Medicaid is the federal/state program that covers long-term care for those who have spent down their assets. Your first step should be to check out the Medicaid regulations in your state to see what benefits you might be eligible for at what income/asset levels. Means tested Medicaid not an option.
by J295
Fri Apr 10, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Preservation With Decades of Institutional Care
Replies: 69
Views: 3546

Wealth Preservation With Decades of Institutional Care

Age 60, married, and retired. Assets exceed 35X annual expenses. No long term care insurance. Could comfortably handle $100 - $150k annually of institutional care expenses for extended duration. If one of us has a stroke, dementia, or other condition that puts us in institutional care for decades [e...
by J295
Thu Apr 09, 2020 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff - Am I crazy?
Replies: 81
Views: 5444

Re: Mortgage payoff - Am I crazy?

Pay off the mortgage in equal installments starting in April through the end of the year, and if a speedbump comes along during that time you can readjust if necessary