Bogleheads.org

Mrxyz

FAFSA form has a section for NW which your child can see! So the older kids know! Not necessarily! My FAFSA always showed $0 NW. All of our assets are in retirement accounts and home equity. Both kids thought we were poor when applying to colleges, which I was OK with. Made them work really hard fo...

Mrxyz

FAFSA form has a section for NW which your child can see! So the older kids know!

Mrxyz

Didn't read the thread so forgive me if this was already mentioned. The Queens Gambit inspired my kids to play chess again. My kids said that chess.com has an A.I. where you can play any game against Beth Harmon at any age. They were able to beat her until high school. My son thinks she was ranked ...

Mrxyz

https://www.youtube.com/channel/UCL5YbN ... LIegT5QAbA

https://en.wikipedia.org/wiki/Antonio_Radi%C4%87

Check him out, his short video clips are very easy to follow and teaches you some background history also!

Mrxyz

Perhaps look at this way? Is the best NP better than the best MD? very likely No Is the worst MD better than the average NP? no idea because what is average? Is the average MD better than the average NP? likely yes but again, tough to define average as compared to best/worst. Is the average MD bette...

Mrxyz

Hector wrote: ↑Sat Jan 09, 2021 1:43 pm What is FOMO?

Fear Of Missing Out

Mrxyz

Yes, yes, yes, it is possible to do so but to what end? Meaning how much do you want to profit before selling and 'making' that profit? And then what to do with the money again....... I believe I have FI made. I had TSLA at around $240, sold it at around $280 in 2020 and made some profit....quite ex...

Mrxyz

Picasso wrote: ↑Wed Jan 06, 2021 12:03 pm Part of my day job involves working with and reviewing clinical quality and outcome data across all clinicians in my state. I choose the MD at an academic medical center every time. If I have to travel to get there, I travel to get there.

+ 10000000!

Mrxyz

NPs spend more time with patients because they can and not necessarily because they want to - a not so subtle difference. There are lots of physician who are able and can spend enough time with their patients. Plenty of things missed by NPs - boils down to less education equals less foresight etc. S...

Mrxyz

I increased my bond % when I realized that I could not properly "digest" the amount "lost" when the stocks plunged.
IOW - I/we did not have the willingness (and also the need) to take that risk.

Mrxyz

I increased my bond % when I realized that I could not properly "digest" the amount "lost" when the stocks plunged.
IOW - I/we did not have the willingness (and also the need) to take that risk.

Mrxyz

If you cannot/do not retire with these figures..........then I am in trouble and I cannot retire...............for a very long time!!

Mrxyz

Apartment.com has 'taken over' cozy and they have free online payments - which uses Plaid in background.

Mrxyz

I am not keen on anything finance related on my phone, the less I look, the less eager I feel about (unnecessarily) changing my finances, AA, and what not........Keep it simple, unchanged for most parts except once a year AA reallocation! I visit Bogleheads enough already!!

Mrxyz

Yes.
I was you many moons ago, and now its boringly simple and easy and stress free.................
Just do it.......and stop fiddling with asset allocations...........keep it simple .....

Mrxyz

I already answered this. First, are you sure the rental Schedule E entries will "show" a profit after depreciation if he pays rent. It doesn't matter if you actually have a positive cash flow. What matters is do you have a taxable "profit" after all revenue, expenses and depreci...

Mrxyz

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but a...

Mrxyz

So no responses to the home insurance costs?

Update -
I am buying the house for $214k cash. Will be charging $450 per month to tenants who will pay for utilities. House inspection was fine - needs around $1400 repairs which can be done without much problem before everyone moves in.
Thanks

Mrxyz

Home insurance quote is; Coverage Limit Premium Dwelling 215,000 1011 extra dwelling 43,000 10 Personal property 10,750 Business liability(each occurrence) 5M 81 Business liability(annual aggregate) 10M Loss of rents 1000 Plan rating 99 Total $1181 Any thoughts?

Mrxyz

My parents did this, it all went fine for the 4 yrs of schooling. The one thing I think you missed: Then the market crashed, house value went way down (decades ago). No quick cash like they must have hoped. On the positive, they held onto it long long term, and it is now doing great on appreciation...

Mrxyz

I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility. Yes, he will be the property manager. I plan to have 'surprise'...

Mrxyz

Be certain to put language in your lease regarding pets. If you allow pets stipulate type and size and breed(s). I would also have a large deposit and extra monthly fee if allowed. Stipulate a total number of pets allowed in the dwelling as well. Pets in the hands of college students are often dest...

Mrxyz

I suggest seeing an attorney. Why? First, you don't want to be faced with a discrimination suit if one of the kids leaves school but wants to remain. Or if they have a child and want to have the child there. In some states, evictions are easy, in others difficult. If a friend of your child wants to...

Mrxyz

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but a...

Mrxyz

I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility. Yes, he will be the property manager. I plan to have 'surprise'...

Mrxyz

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but af...

Mrxyz

phxjcc wrote: ↑Fri Oct 30, 2020 11:32 pm
denovo wrote: ↑Fri Oct 30, 2020 7:32 am
phxjcc wrote: ↑Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]
This is not a short-term rental.
Sigh.
It is a multi line agency.

Thanks I will contact them on Monday.

Mrxyz

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's ...

Mrxyz

Utilities will be paid by the 3 tenants (the 4th is my kid who does not pay). There are 5 bedrooms but we at present, are not sure of the last tenant. I think the utilities should be divided by the total number of roomates (including your child). It also would be a good idea for your child to pay t...

Mrxyz

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's ...

Mrxyz

phxjcc wrote: ↑Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]

I will.
So I have never heard of this company.
Do I buy home owner's insurance and umbrella insurance from them OR is it only for business insurance OR am I confused?
Thanks

Mrxyz

Question -
Does anyone know how much umbrella insurance is needed ?
Thanks

Mrxyz

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's i...

Mrxyz

you are under contract, right? does this mean the kids would move in next month? is your kid is leaving the dorms mid-year and if so, are you sure you can get out of the dorm contract or will you be stuck paying double? if the latter, are you sure that all the planned roommates will move in right a...

Mrxyz

UPDATE- Hi all, So I am going ahead with this plan. Home is an older home built in 1950s, Cost $215K, 5 bedroom 2800 sq.ft. The house has no issues I can identify except one garage window which is loose but I can fix it in 15 minutes. Inspection - is pending and that can uncover more stuff. I am get...

Mrxyz

Wow, excellent response guys and gals! So, where do I start? No, I do not wish to save a lot of money or make a lot of money off this deal. The dorm is NOT comfortable or fun to stay. Small, crowded etc. Esp. with COVID not getting better x months, a house with more space, ventilation, same group of...

Mrxyz

OP here. Thanks for all your feedback. Here are some clarifications. Yes, one of the 4 kids is mine. 3 years because - he is currently in college as freshman. I am NOT using this process a way to make money. I am fine if I am even or slightly lower. The money involved is <5% NW. BTW, one kid pays ar...

Mrxyz

Hi I am planning to buy a small house for 4 Univ. students for the next 3 years or so. I want to run some numbers by you and want some recommendations and suggestions; 200k house, I plan to buy it cash. The property tax is around 2k/year. The 4 kids are to pay $400/month plus utilities which will be...

Mrxyz

Change mortgage to 15 year if it is 30 year at present.
You are getting 3% return by paying off mortgage which is pretty good.

Mrxyz

I have always had an interest in financial gambling (i.e. gambling using the financial markets, instead of casinos or racetracks). I day trade futures, holding positions for at most 20 seconds. I treat it as exciting entertainment. Is there a general guideline on the maximum percentage of my dispos...

Mrxyz

I am no expert in investing in commercial real estate but wonder if I can suggest you looking at the "need" and "ability" to take the risk.......even if you do not invest this money in real estate, you and your family are well set........Just a suggestion.
Thanks

Mrxyz

Congratulations!

Thanks for sharing your story..........it is very inspiring with lot of wise words/advice!!

Mrxyz

I love it when all of smart people like you discuss, argue and dissect stuff like this topic (no offense .. just admiration!). I can even understand some of it! So, what is the conclusion? I have around 23% International in my current AA and its probably okay. However, I am 5-10 years from retiremen...

Mrxyz

I have a 5% cashback for gas purchase using their CC.

Mrxyz

Same here. Unable to load account once I sign on.

Mrxyz

Hi I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anythin...

Mrxyz

Bond tent, perhaps. https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/ There are reasons for doing this, but when we were actually ready to start building a bond/CD ladder/tent, we turned to increasing our bond funds, instead. For us, it was the simpli...

Mrxyz

Bond tent, perhaps. https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/ Very fascinating read! What is interesting is that I have read this many moons ago and did not make much sense! But NOW when it is relevant to my situation it makes a lot of sense! ...

Mrxyz

arcticpineapplecorp. wrote: ↑Mon Aug 24, 2020 1:58 pm sounds right. estate planning and/or long term care concerns (insurance?)

Thanks for the reply!

Estate planning has NOT been done yet (gulp!, yes, I/we know, we need to get it done!)
Long term care - Do not have insurance -- very confused with options presented to us. Any good resources?

Mrxyz

Hi I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anything...

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