Search found 852 matches

by N1CKV
Mon Jan 25, 2021 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance settlement on car
Replies: 18
Views: 1297

Re: Insurance settlement on car

Federal mileage reimbursement rate is $0.56/ mile @ 21,000 miles that is $11,760.00 85,000 - 11,760 = 73,240.00 It honestly doesn't sound like a terrible offer for the property damage portion of the claim. Do not get in a hurry to settle the personal injury portion. I am not saying to sue for no re...
by N1CKV
Mon Jan 25, 2021 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance settlement on car
Replies: 18
Views: 1297

Re: Insurance settlement on car

Federal mileage reimbursement rate is $0.56/ mile @ 21,000 miles that is $11,760.00 85,000 - 11,760 = 73,240.00 It honestly doesn't sound like a terrible offer for the property damage portion of the claim. Do not get in a hurry to settle the personal injury portion. I am not saying to sue for no rea...
by N1CKV
Mon Jan 25, 2021 9:11 am
Forum: Personal Finance (Not Investing)
Topic: House mortgage process, seeing and offering when not pre-approved and other questions
Replies: 16
Views: 886

Re: House mortgage process, seeing and offering when not pre-approved and other questions

Thanks everyone. We saw inspection report and didn't like what we saw; few fixes are necessary and there is some uncertainty. We passed on it A lot of the questions you are asking are going to be relative to your situation/location. Answering these questions is what a BUYER'S agent is for. I would ...
by N1CKV
Fri Jan 22, 2021 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Wedding
Replies: 78
Views: 4778

Re: Wedding

You need to define "the wedding of her dreams" before we/ you can really get serious about suggestions. We kept my wedding under $5,000 (2015). It was a rented reception hall that was a bit older. We used their services for catered finger foods, beer/wine/soda provided, hard liquor cash (w...
by N1CKV
Fri Jan 15, 2021 9:09 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Affordability Feedback (round 2)
Replies: 15
Views: 777

Re: First Time Home Buyer Affordability Feedback (round 2)

While you have most things are lined up with a fair assessment, I would take a step back and revisit this next year. I think you should focus on: getting the 20% down + adequate liquid emergency fund + eliminate auto loan Do the above while you are getting a taste of childcare costs, while your spou...
by N1CKV
Tue Jan 12, 2021 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Zelle app does not require password?
Replies: 15
Views: 1061

Re: Zelle app does not require password?

Interesting. What phone? I purchased a Pixel 5 on release last October and I noticed something similar in the Walmart App. I use Walmart Pay at the register (scan a QR code to pay with saved credit card) and it used to require a fingerprint, you could turn it on and off, now it doesn't seem to matte...
by N1CKV
Tue Jan 12, 2021 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Zelle app does not require password?
Replies: 15
Views: 1061

Re: Zelle app does not require password?

Maybe try turning off your fingerprint/passcode/draw pattern security and see if that "breaks" the Zelle app? It may be just going with as long as the phone is secure, anyone with access to the unlocked phone can use it?
by N1CKV
Tue Jan 12, 2021 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Advice for daughter w/a new job & almost doubling salary
Replies: 17
Views: 1980

Re: Advice for daughter w/a new job & almost doubling salary

My opinion: 1. For now keep living on the same budget she's been on. Once lifestyle creep starts it's very difficult to rein in. 2. Contact car insurance and notify that the vehicle is no longer being used for commuting. The rates should drop. 3. Fund her 2020 IRA contribution, there is a limited wi...
by N1CKV
Fri Jan 08, 2021 4:29 pm
Forum: Personal Investments
Topic: Time To Rebalance?
Replies: 22
Views: 2563

Re: Time To Rebalance?

I rebalanced my IRA with my annual contribution. My taxable is all in Total Stock Market so there's nothing to balance. It moves as it will until I decide to pull it, there is not defined purpose for it. My 457b automatically rebalances every quarter, I stay out of that and let it go. Less stressful...
by N1CKV
Thu Jan 07, 2021 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Quit Claim Deed? - Adding Fiancee/Wife to House
Replies: 21
Views: 1485

Re: Quit Claim Deed? - Adding Fiancee/Wife to House

Write a will and execute it today.

Without a will even if you were married your bloodline heirs could claim the home as a pre-marital asset and cause grief (as unlikely as you may think it will happen, it can). A will can assign the house to be hers in the event something happens to you.
by N1CKV
Tue Jan 05, 2021 10:23 am
Forum: Personal Investments
Topic: Why max 401k before 529?
Replies: 181
Views: 10707

Re: Why max 401k before 529?

My opinion isn't popular and some consider it harsh, but why is your children's college education your responsibility? I have no children, so my opinion may be skewed, but: One of the best things my parents did was make me work and pay for my own college education. I took no loans. It did take me 5 ...
by N1CKV
Mon Jan 04, 2021 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have a side hustle?
Replies: 29
Views: 2876

Re: Do you have a side hustle?

I had one in college. I worked fulltime in a warehouse while attending school fulltime. My weekend time was suddenly available when I became single and not interested in dating so I took a job on Saturday and Sunday changing oil and tires. The shop loved it because all of the fulltime technicians wa...
by N1CKV
Wed Dec 16, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Flood insurance?
Replies: 10
Views: 628

Re: Flood insurance?

My home is in "Flood Zone X". The "Flood Factor Rating" is a 1/10. This is the standard to not require flood insurance from a lender. My home is 2 feet above the previous flood of record (1983). In August of 2016 an unnamed tropical system sat right above my house for several day...
by N1CKV
Wed Dec 16, 2020 10:53 am
Forum: Personal Finance (Not Investing)
Topic: for people expecting to be paid on Friday 1/1/2021 - slightly odd note from employer HR
Replies: 100
Views: 11191

Re: for people expecting to be paid on Friday 1/1/2021 - slightly odd note from employer HR

The only difference you are seeing is that the 27 pay period year will be 2020 instead of 2021 (I just sat and looked at the 2021 calendar and if you were paid 1/1 it would be 27). The only benefit is that in a 3 check month you typically do not pay the "extra" deductions like insurance pr...
by N1CKV
Thu Dec 03, 2020 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Kill the Mortgage or no?
Replies: 42
Views: 2650

Re: Kill the Mortgage or no?

I had a similar balance on a house worth a tiny fraction of yours, retirement balances quite a bit lower, etc. and when I hit ~$60K balance I started throwing $10k payments at it every month for a few months, then I was bored with that and just paid the entire thing off.... To fund it I broke CDs an...
by N1CKV
Thu Nov 12, 2020 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Purchase My Neighbor's Home?
Replies: 106
Views: 10570

Re: Should I Purchase My Neighbor's Home?

I do not feel these two statements are consistent: Her home is very old and it is highly likely that the next purchaser will tear it down and rebuild. If torn down, or even renovated, the hassle in our lives will dramatically increase: There will be construction noise and dust literally a few yards ...
by N1CKV
Tue Nov 03, 2020 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering std of living ?
Replies: 16
Views: 1869

Re: Lowering std of living ?

I live in a 1300 sqft home with 3BR/2BA that I purchased as a single guy 15 years ago. Now I'm married and it's still just "fine". I want more land, but I am in a dense neighborhood. The main thing keeping me here is the super low property taxes and easy maintenance. I fight internally wit...
by N1CKV
Thu Oct 22, 2020 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Housing market and the economy
Replies: 21
Views: 2175

Re: Housing market and the economy

I agree with what you are seeing. I would stay put in that situation. I own my home mortgage free. I want to upgrade, but I am in no hurry when I look around at available inventory. Meanwhile I am accumulating funds to possibly just pay cash when I am ready to make my move. Buy when everyone is sell...
by N1CKV
Thu Oct 22, 2020 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff rental mortgages?
Replies: 46
Views: 2574

Re: Payoff rental mortgages?

You are renting out those houses way too cheap. I agree with the others, a big increase in rent or sell and invest that money elsewhere. The only way you could seriously justify that low of a return on over a half million in assets is if you are getting personal satisfaction from subsidizing your te...
by N1CKV
Tue Oct 20, 2020 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Tenant modified property and subletting on AirBnB
Replies: 96
Views: 10912

Re: Tenant modified property and subletting on AirBnB

Start eviction immediately. Contact AirBNB and identify yourself as the property owner, inform them that the person listing the property is not permitted to do so and demand that they de-list the property. If they baulk then have an attorney send a cease and desist demand. Notify the local governmen...
by N1CKV
Mon Oct 05, 2020 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Thanks to Bogleheads [got a good deal on auto insurance]
Replies: 7
Views: 996

Re: Thanks to Bogleheads [got a good deal on auto insurance]

I've shopped around and found dramatic savings, not quite that much, but cut my bill in half. Unfortunately my most recent bill came in kind of high, but my wife introduced her vehicle to a big yellow pole about 2.5 yrs ago so until that hits at least 3 yrs I'm somewhat stuck. :annoyed As for the un...
by N1CKV
Wed Sep 02, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Underwriter asking about husband's old child support as if it is current
Replies: 21
Views: 2474

Re: Underwriter asking about husband's old child support as if it is current

Elsebet wrote: Wed Sep 02, 2020 7:23 am In fact it explicitly states "4. Neither party is awarded any maintenance to be paid by the other party".
That could be interpreted as a reference to spousal maintenance, i.e. alimony.
by N1CKV
Mon Aug 31, 2020 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Is insuring my wife’s wedding ring worth it?
Replies: 49
Views: 5058

Re: Is insuring my wife’s wedding ring worth it?

I wouldn't insure it. It is a sunk cost. Be sure to understand the difference between: 1 Appraised Value 2 Retail Value 3 Wholesale Value The bottom line comes down to the insurance company will pay a fraction of the "appraised value" for a replacement that never will have the sentimental ...
by N1CKV
Wed Aug 19, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate risk of prospective tenants?
Replies: 38
Views: 2409

Re: How to evaluate risk of prospective tenants?

I would think past rental history, decent credit score and appropriate cash flow are the main criteria. The only category in the person's expenses that should be of real interest is current rent being paid. If this person is currently living with someone else/ not paying rent, then their cash flow a...
by N1CKV
Thu Jul 30, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Setting up a Universal Basic Income(UBI)
Replies: 42
Views: 3610

Re: Setting up a Universal Basic Income(UBI)

You can accomplish this via a trust fund with a third-party trustee, such as Vanguard trust services. The trust document determines how much is paid out, to whom, and under what circumstances. Many states now allow "dynasty trusts," which can go on forever and provide your "UBI"...
by N1CKV
Mon Jul 20, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Electrical upgrades for a new build home
Replies: 60
Views: 4691

Re: Electrical upgrades for a new build home

I am electrically handy so most of that I could do myself easily later for much cheaper, but the items that would be worth it are: - Pre-wire for ceiling fans. Unfortunately that's kinda high, but it's not the easiest job to do after walls are closed and the electrician is not going to allow you do ...
by N1CKV
Wed Jul 08, 2020 9:12 am
Forum: Personal Investments
Topic: Am I oversaving?
Replies: 39
Views: 4449

Re: Am I oversaving?

For now I think you are doing well. I would maintain your current savings rate in the near term and reevaluate in about 5 years or so. The reasons I say this: Social Security is certainly a dicey proposition. Job loss happens, having a bit of a "head start" on savings won't hurt. Compound ...
by N1CKV
Tue Jun 16, 2020 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Amended return hasn't been processed in ~2 months.
Replies: 33
Views: 2718

Re: Amended return hasn't been processed in ~2 months.

I filed an amended return back in 2017 that resulted in a rather large refund. You can bet the IRS took every last day of that 16 weeks to process it.
by N1CKV
Tue Jun 16, 2020 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Choosing an executor?
Replies: 25
Views: 1770

Re: Choosing an executor?

Whomever you choose, make sure that they can and are willing to take on the responsibility. My parents named each other as primary executor and durable POA. I am the youngest of 3 children, all married. I have no children of my own and no plans for any ever, my siblings each have children. My siblin...
by N1CKV
Thu Jun 04, 2020 12:47 pm
Forum: Personal Investments
Topic: Roth IRA maxed out for 2020
Replies: 3
Views: 490

Re: Roth IRA maxed out for 2020

Awesome. Now start saving so that you can have the funds for 2021 in January.
by N1CKV
Wed Jun 03, 2020 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's expectations of subsidizing her friends' lives
Replies: 82
Views: 4643

Re: Wife's expectations of subsidizing her friends' lives

Here is a compromise: She goes to work. Everything she earns she can spend however she sees fit. You continue to take care of household expenses (since you don't seem opposed to that). Absent that I would start figuring out what alimony is going to cost and start gearing up for that while getting yo...
by N1CKV
Wed Jun 03, 2020 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding the Line Items of a Refinance No Closing Costs Loan
Replies: 43
Views: 2828

Re: Understanding the Line Items of a Refinance No Closing Costs Loan

It's crystal clear to me.... The new lender want's $6,000 in pre-paids to go to escrow. How much your current lender has or requires has not bearing on what the new lender is requiring. If you feel they miscalculated for whatever reason go ahead and ask. The actual cost of the loan is covered by len...
by N1CKV
Wed May 27, 2020 2:34 pm
Forum: Personal Investments
Topic: I have no risk tolerance: where am I supposed to keep my money?
Replies: 73
Views: 6984

Re: I have no risk tolerance: where am I supposed to keep my money?

I am just curious how the OP came up with the idea to be at 90/10 in the first place.
Re-visiting that decision might provide some insight.
Was it someone giving general "advice"?
Was it greed?
Was it.......?
by N1CKV
Wed Apr 29, 2020 8:15 am
Forum: Personal Finance (Not Investing)
Topic: PPP Loan ethics
Replies: 56
Views: 4115

Re: PPP Loan ethics

As a matter of ethics, if you don't need it then don't take it. There is a lot of small businesses completely unable to operate at all, under any circumstance, that absolutely need these funds. Think about the personal care businesses (hair, nail, spa), bars and small gyms that are honest businesses...
by N1CKV
Thu Apr 23, 2020 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Accounting Principles Meets Personal Finance Logic....
Replies: 11
Views: 1292

Re: Accounting Principles Meets Personal Finance Logic....

This is a Finance Theory that very few people seem to understand and is never actually taught in grade school. When you "take a loan to buy"... lets say a car. You purchase the item with real dollars that you are borrowing from a bank. Your personal "balance sheet" would have an ...
by N1CKV
Mon Apr 13, 2020 9:00 am
Forum: Personal Finance (Not Investing)
Topic: What opportunities are there to take advantage of the coronavirus situation?
Replies: 26
Views: 3932

Re: What opportunities are there to take advantage of the coronavirus situation?

I have been working from home. I work in government as an "essential employee", so fairly secure. For my personal health: I have been taking advantage most days of the zero commute time and adding mileage to my morning runs. My wife is also working from home, so on our lunch breaks we take...
by N1CKV
Tue Mar 17, 2020 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Who is still going into work and why?
Replies: 41
Views: 2679

Re: Who is still going into work and why?

I am working because my employer has not cancelled normal operations.
by N1CKV
Thu Mar 12, 2020 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Staying under 400% FPL for FIRE
Replies: 47
Views: 3317

Re: Staying under 400% FPL for FIRE

HomeStretch wrote: Wed Mar 11, 2020 6:00 pm +1.

You need compensation to contribute to an IRA. Does your income from your rental properties qualify?
This has not been addressed. You need earned income to contribute to an IRA (of any type).
Passive income does not count. There is specific rules concerning this.
by N1CKV
Wed Mar 11, 2020 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Unmarried home ownership, joining his preexisting purchase
Replies: 72
Views: 3838

Re: Unmarried home ownership, joining his preexisting purchase

I would continue just paying rent. This makes it less complicated in case things go south. If he puts pressure on you to purchase equity in his home, these two statements come to my mind. 1. "poop or get off of the pot" 2. "better put a ring on it". I agree 100% I am a guy that ...
by N1CKV
Wed Mar 04, 2020 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Making public vs. private high school decision
Replies: 59
Views: 3577

Re: Making public vs. private high school decision

From my experience, I would say public school. I grew up in an area without a great school system. I went to the best elementary school in the system. I went to a Magnet program middle school. I went to a Magnet program high school... and promptly was kicked out my freshman year because of grades (I...
by N1CKV
Mon Feb 17, 2020 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: My parents wants the house in my name - Advice?
Replies: 26
Views: 2972

Re: My parents wants the house in my name - Advice?

Do you reside or have any investment of your own assets in these 2 houses?
If not then stay away. Are you a party to the mortgage of property B?
by N1CKV
Tue Feb 11, 2020 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Getting audited: advice requested
Replies: 16
Views: 3199

Re: Getting audited: advice requested

As an Accountant that deals with annual audits I will say the above answers of being cooperative are correct. The Auditor just wants to accomplish his job. He's not "out for you", it's nothing personal. If you have trouble producing the documents requested then express that and suggest alt...
by N1CKV
Fri Feb 07, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Downside to using Cash Back credit cards
Replies: 40
Views: 5224

Re: Downside to using Cash Back credit cards

It's really not an issue. Next month or two your score will rebound. Credit scores are all about the long game. Example: I maxed out 2 of my cards at the same time once.* My score quickly rebounded and increases were even offered. *This was a one time thing, my house had flooded with no flood insura...
by N1CKV
Thu Feb 06, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: FreeTaxUSA first-time user
Replies: 33
Views: 3501

Re: FreeTaxUSA first-time user

I have used FreeTaxUSA for several years, completely free.
I can electronically file my State for free on the State Dept. of Revenue's website, so I skip the paid option but make a mental note of the state refund due for cross checking.
by N1CKV
Thu Jan 09, 2020 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Customer service representative request for last name
Replies: 23
Views: 1820

Re: Customer service representative request for last name

I have a friend that worked at a sub-company of The Home Depot in a customer service center, he was "assigned a "name". It was not his real name and it was unique to the company's customer service staff. If they will not provide you with a last name you can inquire if their name is un...
by N1CKV
Fri Jan 03, 2020 9:45 am
Forum: Personal Finance (Not Investing)
Topic: HSA effective date in the middle of hospital stay
Replies: 5
Views: 437

Re: HSA effective date in the middle of hospital stay

You are confusing HSA with HDHP:
HSA = Health Savings Account
HDHP = High Deductible Health Plan

Contributions to a HSA can only be made while participating in a HDHP.
Any balance in a HSA can be used for deductibles, copays, etc. regardless of the health plan.
by N1CKV
Tue Oct 29, 2019 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: How much deferred maintenance would make you walk away from a home deal?
Replies: 30
Views: 2676

Re: How much deferred maintenance would make you walk away from a home deal?

The items listed are not deferred maintenance, some of it would just be needless spending. My house was built in 2002: -I have never touched the water heater. I likely will not. It is not an item that needs to be replaced until it exhibits problems. -I replaced my original HVAC less than a year ago....
by N1CKV
Thu Oct 17, 2019 12:25 pm
Forum: Personal Consumer Issues
Topic: Are Really Large Battery Brands Fungible?
Replies: 29
Views: 3757

Re: Are Really Large Battery Brands Fungible?

That is am AGM Group 34 battery. Autozone has some Duralast for under $200: https://www.autozone.com/batteries-starting-and-charging/battery/duralast-platinum-battery-34-agm-group-size-34-740-cca/319463_929734_25697 I am not endorsing one brand over another, but Amazon has some deals: https://www.am...