Search found 172 matches

by Minty
Sun Dec 02, 2018 3:36 pm
Forum: Personal Consumer Issues
Topic: Do I need to pay for a clean title to sell my car privately?
Replies: 28
Views: 2066

Re: Do I need to pay for a clean title to sell my car privately?

Maybe there's a strip mall with both a DMV branch, where the buyer can get a new title in their name, and a bank, where the buyer can get a certified check. If so, do the deal there.
by Minty
Sat Dec 01, 2018 11:55 pm
Forum: Investing - Help with Personal Investments
Topic: My kid's retirement
Replies: 49
Views: 3381

Re: My kid's retirement

I established Roth IRAs at Fidelity for my kids as teens, and gave them contributions equivalent to their earnings as babysitters and later in their p/t W-2 jobs. Setting up the IRA is not hard, but the maximum contribution is limited to legitimate earned income.
by Minty
Sat Dec 01, 2018 6:39 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5753

Re: Saving for Retirement when one has a Pension

I don't know of any specific guidelines, but I would think the calculation would have to include the funding ratio of the pension system, and whether the pensioner will also receive social security.
by Minty
Fri Nov 30, 2018 10:00 am
Forum: Personal Consumer Issues
Topic: Are you glad you bought an Xfinity Telephony Modem?
Replies: 13
Views: 812

Re: Are you glad you bought an Xfinity Telephony Modem?

The break-even on these is relatively short, and they don't need to be replaced usually for a minimum of several years, so this is a good investment. I haven't paid a rental fee for like 15 years, and we've bought two modems. Make sure they actually stop charging you the rental fee, and that you get...
by Minty
Fri Nov 30, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Is Wells Fargo doing a bait and switch with mortgage rate?
Replies: 24
Views: 2160

Re: Is Wells Fargo doing a bait and switch with mortgage rate?

We used WF in the past with no problems. However, we used an online lender for our current refi and the rates were much better than what was available from brick and mortar lenders.
by Minty
Tue Nov 27, 2018 2:19 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads Greatest Hits
Replies: 27
Views: 3646

Re: Bogleheads Greatest Hits

Links. A thread like this would be much improved by links to the great threads people are remeniscing about.
by Minty
Mon Nov 26, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Getting sued from an already settled car accident... 2 years later! Is this legal?
Replies: 44
Views: 7388

Re: Getting sued from an already settled car accident... 2 years later! Is this legal?

What kind of insurance company pays a claim without getting an airtight release? I'd be shocked if there was no release.
by Minty
Sun Nov 18, 2018 12:06 am
Forum: Personal Consumer Issues
Topic: Home sale etiquette: wall repair
Replies: 53
Views: 3635

Re: Home sale etiquette: wall repair

I hated the amateur fixes the seller did to the house we live in now. If a seller is not skilled, the favor is to leave the house as is when moving out.
by Minty
Mon Nov 12, 2018 10:08 pm
Forum: Personal Consumer Issues
Topic: Granddaughter needs $ help for university
Replies: 111
Views: 9945

Re: Granddaughter needs $ help for university

Just today, I co-signed a tuition loan for my child. Her other parent and I are planning to pay it off; it is a 0% institutional loan so it makes no sense to pay cash. This is for a school that costs $74K and change per annum, which is a substantial sum for us. If we weren't planning to pay it off ...
by Minty
Mon Nov 12, 2018 9:52 pm
Forum: Personal Consumer Issues
Topic: Granddaughter needs $ help for university
Replies: 111
Views: 9945

Re: Granddaughter needs $ help for university

Just today, I co-signed a tuition loan for my child. Her other parent and I are planning to pay it off; it is a 0% institutional loan so it makes no sense to pay cash. This is for a school that costs $74K and change per annum, which is a substantial sum for us. If we weren't planning to pay it off o...
by Minty
Mon Nov 05, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Lock mortgage rate at 5%?
Replies: 34
Views: 3757

Re: Lock mortgage rate at 5%?

The advice I've always gotten is lock at one place, float at another, and keep shopping. It has generally worked for me.
by Minty
Tue Oct 23, 2018 6:36 am
Forum: Investing - Theory, News & General
Topic: Shouldn't Fridays be higher than average due to 401k contributions?
Replies: 44
Views: 3242

Re: Shouldn't Fridays be higher than average due to 401k contributions?

Because money is fungible, some 401k contributions are never actually invested, just like selling a mutual fund does not necessarily trigger sale of underlying securities. Sure, contributions are credited to your individual account when they get to the custodian, but those specific dollars might be ...
by Minty
Mon Oct 15, 2018 10:18 am
Forum: Personal Consumer Issues
Topic: Not convinced with insurance
Replies: 45
Views: 3706

Re: Not convinced with insurance

Sorry if I missed it, but I didn't notice anything specific about income or assets, other than the income is "generous" and the savings are "fine." It is funny; the more assets OP has, the stronger the case for umbrella insurance to protect them. The more income OP has, the stronger the case for lif...
by Minty
Wed Oct 10, 2018 10:02 pm
Forum: Personal Consumer Issues
Topic: Route-66 trip recommendations
Replies: 39
Views: 2301

Re: Route-66 trip recommendations

My family and I drove from Albuquerque to St. Louis on Route 66 12 years ago; it was fun. As others have said, Route 66 is not what it used to be, but I still think it is worth doing once. The Roadside America website is a good place to start planning.
by Minty
Sat Sep 29, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Pension plan choice of annuity or cash payout
Replies: 27
Views: 2878

Re: Pension plan choice of annuity or cash payout

You might take a look at this website: https://www.immediateannuities.com/ From what I could see, I don't think you could get $1700 per month, 10 years certain, with a survivor benefit, for $285K. I could not find an exact match for your offer, but it looks like a life benefit just for one with no g...
by Minty
Tue Sep 25, 2018 10:28 pm
Forum: Investing - Help with Personal Investments
Topic: Mother's Retirement Portfolio/Fidelity ESG Funds
Replies: 2
Views: 454

Re: Mother's Retirement Portfolio/Fidelity ESG Funds

Thanks. I think five years of expenses in CDs should give her room for something above 30% in equities, but I also want to be careful. Maybe I'll split the difference and suggest 35%.
by Minty
Sun Sep 23, 2018 6:27 pm
Forum: Investing - Help with Personal Investments
Topic: Mother's Retirement Portfolio/Fidelity ESG Funds
Replies: 2
Views: 454

Mother's Retirement Portfolio/Fidelity ESG Funds

My 78-year-old mother asked for help with her portfolio after I suggested that she ditch her AUM advisor who had her in relatively expensive funds. My mother has very little investment knowledge, but is adamant about owning only socially responsible funds, what Fidelity calls ESG for environmental, ...
by Minty
Thu Sep 20, 2018 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card spending $20000
Replies: 10
Views: 1902

Re: Credit card spending $20000

My vote is AmEx Platinum. 5 points per dollar on airline tickets. Points are worth about a penny apiece. First year, it is clearly worth it because the bonus points cover the $550 membership fee. It might be worth it after that (it is to me), based on the $200 airline fee reimbursement (can be used ...
by Minty
Tue Sep 18, 2018 9:05 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 293
Views: 25755

Re: What is your single most expensive mistake?

Worst mistake: Rejecting the home inspector recommended by a trustworthy expert, in favor of one who had a really interesting and persuasive website. Near Miss: Almost overfunding my individual 401(k). Withdrew the excess on the last possible day. I believe the penalty would have been double tax (th...
by Minty
Tue Sep 18, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Debt Repayment
Replies: 36
Views: 1991

Re: Student Loan Debt Repayment

My point is I want to pay them off sooner than the remaining time—not prolong the pain another 1-2 years. And I’ve done rough math. It’s most certainly not savings of thousands of dollars, especially if I plan to pay them off in the next 15 months. Of course. Pay the loans off ASAP. But with a refi...
by Minty
Tue Sep 18, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Debt Repayment
Replies: 36
Views: 1991

Re: Student Loan Debt Repayment

mortfree wrote:
Tue Sep 18, 2018 7:30 pm
I would throw the 2k extra towards loan #1 plus the 400 that you had been paying towards loan 6.
I agree with this. Why not pay the highest interest rate loans first? Can you refi to a lower rate?
by Minty
Sat Aug 25, 2018 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Investing in a Broadway show production
Replies: 28
Views: 2491

Re: Investing in a Broadway show production

Index Fan wrote:
Sat Aug 25, 2018 10:05 am
Assume that you could lose 100% of your investment. Good luck.
OP, I'd say assume that you WILL lose 100% of your investment. Go to Joe Allen's on 46th Street and have a drink while you think about it. (Their decor is a collection of posters from flops).
by Minty
Wed Aug 22, 2018 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance - does this seem reasonable? (Added another ? about company)
Replies: 19
Views: 942

Re: Life Insurance - does this seem reasonable? (Added another ? about company)

I'd recommend 15-20x your incomes for coverage. If one spouse dies, it's not easy to continue working high engagement jobs and take care of the kids. I agree with this--at least 10x. Inflation is low, but over the years it adds up, and as your income increases, a policy that seems fine in 2018 may ...
by Minty
Wed Aug 22, 2018 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Varying college costs across kids in the same family
Replies: 92
Views: 5288

Re: Varying college costs across kids in the same family

To me, the primary issue is not one of fairness but rather of incentives. If the cost of a good is $0, people will consume as much of it as they can. Who wouldn't want to go to a fancy private school if it cost them nothing? Now some kids may have a modicum of respect for their parents' money but m...
by Minty
Wed Aug 22, 2018 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Mold in house and insurance won't cover - options?
Replies: 29
Views: 3853

Re: Mold in house and insurance won't cover - options?

I lived in a state with mold issues, and the conventional wisdom seemed to be nothing good can come of dealing with homeowners insurance. They won't pay to repair, and may not renew your insurance or raise your rates. First thing to do is make the roof watertight and keep the humidity down. The mold...
by Minty
Tue Aug 21, 2018 11:38 pm
Forum: Personal Consumer Issues
Topic: Graduate Degree Mistakenly (?) Conferred - What to Do? [solved]
Replies: 76
Views: 7509

Re: Graduate Degree Mistakenly (?) Conferred - What to Do?

I also learned of a few new complications, because I will now be required to reapply to the program (my deployment is longer than I originally anticipated and extends past the normal limits on leaves of absence at the school) which I was assured should be a gimme but may (I'll have to confirm) jeop...
by Minty
Sat Aug 18, 2018 1:36 pm
Forum: Investing - Help with Personal Investments
Topic: Making money last through retirement
Replies: 26
Views: 4730

Re: Making money last through retirement

Hopefully you will not need it for decades, but if you have affordable life insurance through work, I would get it. Also, I second HereToLearn's observation about selective colleges, which are likely to offer a lot of need-based financial aid. They also tend to have higher retention and graduation r...
by Minty
Fri Aug 17, 2018 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Non-owner contributing to home renovations: what's fair?
Replies: 39
Views: 2580

Re: Non-owner contributing to home renovations: what's fair?

It's ten fricking thousand dollars. No need to get so complicated. Sounds like the poster is more concerned about his relationship, as he should be, than a financial transaction. Right. The "relationship" solution and the simple solution is for OP just to pay the money, and everyone keeps 100% of t...
by Minty
Fri Aug 17, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Non-owner contributing to home renovations: what's fair?
Replies: 39
Views: 2580

Re: Non-owner contributing to home renovations: what's fair?

Perhaps a simple equation might work best. If your house is now worth $500,000 (just an easy number to work with) and your partner pays for $10,000 in renovations, that $10,000 represents 2% of the value of your home. If you sell in five years and the sales price is $600,000, apply that same 2% to ...
by Minty
Fri Aug 17, 2018 5:10 pm
Forum: Personal Consumer Issues
Topic: Reckless driving ticket in VA-Help!
Replies: 124
Views: 7797

Re: Reckless driving ticket in VA-Help!

This is a lot like the question of whether you need homeowners insurance. Get a lawyer. See if the lawyer can get the charge reduced to improper driving.
by Minty
Fri Aug 17, 2018 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off personal loan at house closing?
Replies: 12
Views: 983

Re: Pay off personal loan at house closing?

I like it because you are sure to get the money.
by Minty
Fri Aug 17, 2018 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Pay for Deductible Education Expense with 529 Funds?
Replies: 7
Views: 599

Re: Pay for Deductible Education Expense with 529 Funds?

Based on the discussion at Page 64 of IRS Publication 970 , which is applicable to tax year 2017, but seems sensible, for a qualified tuition plan (aka a 529 plan) contributions used for qualifying expenses are deductible, but the tax-free returns are not deductible, as that would constitute double-...
by Minty
Thu Aug 16, 2018 7:38 pm
Forum: Investing - Help with Personal Investments
Topic: Moving within Fidelity
Replies: 12
Views: 1704

Re: Moving within Fidelity

I'm tempted, but I'm going to wait until there are results. These new proprietary indices may do great, but it is also possible that they will underperform existing Fidelity funds by more than the difference in ER. I also worry a tiny bit about the effectiveness of sampling methods in a smaller fund...
by Minty
Wed Aug 15, 2018 11:54 pm
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3558

Re: Help with inheritance choice

The inherited IRA will grow tax deferred for the next 40+ years. You'll only have to take out small distributions each year. In the long run the bank CD will NOT be worth more. You're getting some terrible advice on this forum. If he takes the 100% after tax CD and invests it in a total market inde...
by Minty
Wed Aug 15, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance choice
Replies: 38
Views: 3558

Re: Help with inheritance choice

$1 million (the bank account) is worth more than ~~$600,000 (the TIAA account after taxes). So if I had a choice I'd take the bank account since it is larger. If you prefer the TIAA investments (I assume that there are some stocks and bonds) you can put the cash into that, tax free.
by Minty
Wed Aug 15, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: College grant ( not loans ) eligibilty
Replies: 21
Views: 1008

Re: College grant ( not loans ) eligibilty

Lots of schools, including mine, provide need-based financial aid to multimillionaires, in theory, based on the way the FAFSA works. FAFSA excludes retirement accounts, primary residences, and family businesses with 100 or fewer full-time employees. So if you own outright, say, a prewar Park Avenue ...
by Minty
Wed Aug 15, 2018 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Credi card balance transfer offer
Replies: 10
Views: 1032

Re: Credit card balance transfer offer

App-o-rama (AKA credit card arbitrage) was a thing before the financial crisis. At my peak I had close to 300K in high yield savings accounts; the banks lent me a multiple of my annual income, unsecured, with no interest or fees. I still take the free money when offered--why not?--though the amount...
by Minty
Thu Aug 09, 2018 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 16238

Re: Will you pay for your kids' college/graduate education?

Why do kids of rich parents deserve something different? I agree in principle that children of rich and poor should be treated alike. But need-based financial aid is generally not available for children, themselves broke, whose parents are affluent, regardless of the parents' willingness to pay . S...
by Minty
Wed Aug 08, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone taken out an online mortgage?
Replies: 42
Views: 3930

Re: Has anyone taken out an online mortgage?

In Fall, 2016, we refied after shopping on Bankrate and Zillow. IIRC, the online form required inputting information, but I got nonbinding quotes with no credit pull, until I actually applied to a specific lender. We went with an outfit called AnnieMac in New Jersey, and all went smoothly. 3% fixed ...
by Minty
Sat Aug 04, 2018 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 16238

Re: Will you pay for your kids' college/graduate education?

We've been funding 529s for a long time, and plan to pay for our kids' college, with them taking reasonable loans. We'll help with graduate school to the extent that we can. All of this is conditional on them doing their part by working hard.
by Minty
Sat Aug 04, 2018 12:44 pm
Forum: Personal Consumer Issues
Topic: Vacation- home precautions?
Replies: 39
Views: 5359

Re: Vacation- home precautions?

I set the manual lock on the garage door, and turn the hot water heater to "pilot". How do you do this? Do you have a separate deadbolt or something on the garage door or is i a setting on your automatic door opener? Sorry, Texasdiver, I've been reading the forum without signing in for a while. In ...
by Minty
Sat Jun 30, 2018 12:22 am
Forum: Personal Consumer Issues
Topic: Vacation- home precautions?
Replies: 39
Views: 5359

Re: Vacation- home precautions?

I set the manual lock on the garage door, and turn the hot water heater to "pilot".
by Minty
Tue Jun 05, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 15449

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

As a long-time law professor, I'll add my two cents. 1. I agree that being a law professor is a great job and a great privilege, " a loophole on life " it has been called. But this is only true for people eager to work with students and publish research. It actually involves a lot of hours to do suc...
by Minty
Tue May 29, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: work one more year or attend law school
Replies: 67
Views: 5667

Re: work one more year or attend law school

I attended a top 5, and taught at another. My advice is that if you want to be a law professor, go to a top 5. But if the question is practicing law at a big firm or in-house, I'd say you have to think hard about turning down a free ride at a top 10, particularly if it is associated with a fellowshi...
by Minty
Fri May 25, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: work one more year or attend law school
Replies: 67
Views: 5667

Re: work one more year or attend law school

Have you tested the waters by actually applying?
by Minty
Sun Apr 29, 2018 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should I change careers?
Replies: 52
Views: 4475

Re: Should I change careers?

No offense, OP, but I am very hesitant. Lending to or taking positions in private companies is an entirely different thing than trading securities. For example, with securities, at least at the numbers you are talking, you cannot get your calls returned from executives (or get their personal guarant...
by Minty
Thu Apr 26, 2018 8:49 pm
Forum: Investing - Help with Personal Investments
Topic: Pension and Social Security
Replies: 11
Views: 1822

Re: Pension and Social Security

Doesn't it depend on whether the pension was earned while not paying in to Social Security? https://www.ssa.gov/planners/retire/wep.html My understanding is that if a person collects a pension based on work which is exempt from Social Security, SS benefits may be reduced.
by Minty
Sat Apr 07, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 15867

Re: Ivy school education. Is it worth it?

The people who run the world are disproportionately from elite schools. Whether it is causation or correlation hardly matters given the importance of signalling. If it is simply a question of income, perhaps school fanciness matters less; plenty of tradespeople earn more than the President, Senators...
by Minty
Fri Mar 30, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: When did you know your kids would go to college?
Replies: 91
Views: 5400

Re: When did you know your kids would go to college?

Statistically, it seems that a child's likelihood of college attendance and graduation can be predicted by determining parental income. Wealth Gap in College Graduation Rates Growing, Study Finds . In our family, we always assumed that the children would go to college. From a Boglehead perspective, ...
by Minty
Thu Mar 29, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 127
Views: 8761

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Appreciated securities could be donated to schools ... on condition that they be used for tuition. And this is clearly not allowed. Per IRS Publication 526: The contributions must be made to a qualified organization and not set aside for use by a specific person. I think it is allowed, so long as t...