Search found 266 matches

by Minty
Sun Nov 10, 2019 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: WSJ: Underwater Car Loans
Replies: 38
Views: 2214

Re: WSJ: Underwater Car Loans

People are dumb and should be protected from themselves. If they still decide to make bad choices after encountering a guardrail, so be it. But there should be a guardrail. I agree with this. After some years of reading this forum, it seems there is wide agreement that the core business model of ma...
by Minty
Tue Nov 05, 2019 10:01 am
Forum: Personal Consumer Issues
Topic: Neighbor Wants to Build ATV Trail Through Our Property - How to say no while preserving the peace.
Replies: 29
Views: 1887

Re: Neighbor Wants to Build ATV Trail Through Our Property - How to say no while preserving the peace.

I wouldn't want that either. I might accompany the "no, sorry" with a bottle of wine or a cake or something.
by Minty
Thu Oct 31, 2019 10:43 pm
Forum: Personal Consumer Issues
Topic: cousin inherited older house - how to get solid overview of all repairs needed?
Replies: 21
Views: 1728

Re: cousin inherited older house - how to get solid overview of all repairs needed?

I might start by getting some recommendations for roofers to come take a look. We get our roof looked at every few years for cracked tiles, loose flashing, degraded seals on vents, etc., and they usually don't charge for the inspection, just for the work.
by Minty
Thu Oct 31, 2019 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Better.com for New Home Mortgage? Reliable?
Replies: 13
Views: 1032

Re: Better.com for New Home Mortgage? Reliable?

As one tiny data point, our last refi was through an online lender and they were great. All promises, including timing, kept.
by Minty
Thu Oct 31, 2019 10:05 am
Forum: Personal Investments
Topic: Mortgage or Bonds at 50 !
Replies: 36
Views: 2668

Re: Mortgage or Bonds at 50 !

I guess I would say you should have an asset allocation plan which includes both taxable and non-taxable accounts. Without knowing the nature of your total portfolio, it is hard to give advice on what you should do with an additional $10k to be invested each year. But based on what you have posted, ...
by Minty
Tue Oct 29, 2019 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Help Dad do estate planning math and make adjustments
Replies: 45
Views: 2588

Re: Help Dad do estate planning math and make adjustments

MrBobcat wrote:
Mon Oct 28, 2019 10:39 pm
Dad should keep his money and daughter #1 should take a mortgage = to 2/3 of the value of the real estate when gifted and give her sisters their 1/3 cut, then they can split any inheritance equally when the time comes.
+1
by Minty
Fri Oct 25, 2019 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: AFLAC Supplemental Insurance--Any New arguments in favor?
Replies: 3
Views: 327

AFLAC Supplemental Insurance--Any New arguments in favor?

The University of California campus where I work is now offering AFLAC Accident, Critical Illness, and Hospital insurance as a benefit one can sign up for. That duck is as persuasive as the GEICO gecko and the Liberty Mutual emu, but a previous thread is also convincing in that it is generally not n...
by Minty
Sun Oct 20, 2019 3:00 am
Forum: Personal Consumer Issues
Topic: SAT/ACT prep courses worth the money?
Replies: 47
Views: 3104

Re: SAT/ACT prep courses worth the money?

We spent $1,000 on Revolution online for one of our kids and she went up about 10 percentiles. Our other kid refused to take a prep course, took the test 5 times, and went up 10 percentiles. I'd say a prep course is worth it. But everyone is different.
by Minty
Mon Oct 14, 2019 10:07 pm
Forum: Personal Consumer Issues
Topic: Old bourbon whisky
Replies: 26
Views: 4079

Re: Old bourbon whisky

There is a restaurant near me that sells cocktails made with vintage spirits (e.g., "Mad Manhattan, made with 1959-1962 Old Grand Dad. $23.00") But asked and learned that the spirits are purchased through some sort of alcohol-licensed auction or dealer. In many or most states, individuals cannot sel...
by Minty
Wed Oct 09, 2019 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1197
Views: 145672

Re: Fidelity as a one stop shop

Long-time Fidelity customer (as well as Vanguard) and just consolidated paycheck direct deposit, billpay, checking, etc. at Fidelity so I could make some interest. I've never actually used the ATM/Debit card, only electronic transactions. Today someone withdrew about $500 from an ATM 300 miles away...
by Minty
Fri Sep 20, 2019 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1197
Views: 145672

Re: Fidelity as a one stop shop

Long-time Fidelity customer (as well as Vanguard) and just consolidated paycheck direct deposit, billpay, checking, etc. at Fidelity so I could make some interest. I've never actually used the ATM/Debit card, only electronic transactions. Today someone withdrew about $500 from an ATM 300 miles away...
by Minty
Thu Sep 19, 2019 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1197
Views: 145672

Re: Fidelity as a one stop shop

Long-time Fidelity customer (as well as Vanguard) and just consolidated paycheck direct deposit, billpay, checking, etc. at Fidelity so I could make some interest. I've never actually used the ATM/Debit card, only electronic transactions. Today someone withdrew about $500 from an ATM 300 miles away....
by Minty
Thu Sep 05, 2019 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need (term) life insurance?
Replies: 16
Views: 1183

Re: Do I need (term) life insurance?

One additional bit of information would be helpful: How is your retirement savings? If it is low, some insurance might be appropriate.
by Minty
Fri Aug 30, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: While there is a high school question - my daughter wants to graduate early
Replies: 76
Views: 3830

Re: While there is a high school question - my daughter wants to graduate early

I skipped my senior year of high school because it was not challenging, and started college. Not a mistake, exactly, but I wish I had spent that year doing something else to develop personally or intellectually--say, an internship somewhere (not a minimum wage job--I'd had enough of those!), or goin...
by Minty
Mon Aug 26, 2019 3:10 pm
Forum: Personal Consumer Issues
Topic: Faxing From Computer - Any Free, Reliable Services?
Replies: 13
Views: 1420

Re: Faxing From Computer - Any Free, Reliable Services?

As I read the privacy policy, they collect and retain the contexts of faxes, and reserve the right to disclose them for their own purposes. I'd stay away.
by Minty
Mon Aug 26, 2019 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning - Attorney vs DIY
Replies: 27
Views: 2071

Re: Estate planning - Attorney vs DIY

If the kids weren't in the picture, your assets are not necessarily so large or complex that an estate plan is immediately necessary. With the kids' guardianship at issue, and their not being able to control their assets, I don't see how a professionally drafted plan can be avoided.
by Minty
Thu Aug 22, 2019 6:22 pm
Forum: Personal Consumer Issues
Topic: Dealer asking to re-sign
Replies: 45
Views: 4466

Re: Dealer asking to re-sign

There is something called the "re-sign documents scam." Did you finance through the seller?
by Minty
Thu Aug 22, 2019 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19376

Re: Merits of a Selective School

b) 4.0 GPA 1500 SATS parental income of 250k. Gets 0 dollars to go to Harvard, gets full ride to state school A goes to Harvard. B goes to state school. Are you measuring the effects of going to Harvard versus State school or are you measuring the fact effects of being raised in an upper middle cla...
by Minty
Wed Aug 21, 2019 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19376

Re: Merits of a Selective School

I’ve heard of families with annual income of > $200k and multiple kids in college at the same time getting some FA. That's us. We have two kids simultaneously in different high cost colleges, reported gross income over $300K in HCOL area. Our FA, grants covering roughly 14% of total cost, is need-b...
by Minty
Wed Aug 21, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19376

Re: Selective Colleges

The remark above about a 4.0 and 1500 SAT attracting significant merit aid is unfortunately incorrect. There are many students in this range, and not that much merit money available. Wild Bill, I am going to quibble here. A student with a 1500 SAT and comparable HS grades ranks in the 99th percenti...
by Minty
Wed Aug 21, 2019 10:05 am
Forum: Personal Investments
Topic: 7 years till child attends college...
Replies: 32
Views: 2071

Re: 7 years till child attends college...

I'll be a contrarian here, and vote that if you are confident that your child will attend college, then save some money in a 529. As to the investment, Vanguard has age-adjusted portfolios that trend equities down as college approaches. I am in the drawdown phase now for two students, and am happy t...
by Minty
Sat Aug 17, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 19376

Re: Selective Colleges

Great thread. I will have two kids in expensive privates this year, and am happy to have the opportunity to pay six figures in tuition for high quality educational opportunities. DS and I have put our hard-earned income in 529s rather than take fancy vacations or drive cars made in this millennium, ...
by Minty
Thu Aug 08, 2019 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Do you pay for kids college if a non-STEM major?
Replies: 62
Views: 3001

Re: Do you pay for kids college if a non-STEM major?

First kid had STEM and non-STEM double major and we are paying for both. Second kid is starting college this month, almost certainly will not have a STEM major, and we are paying. I myself did not twist my kids' arms about majors--my lightbulb moment came after talking with professional students who...
by Minty
Sun Aug 04, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Needed?
Replies: 15
Views: 828

Re: Life Insurance Needed?

A little more information would still be useful. The fact that you are asking the question suggests that you have some use for the pension income--charitable giving, legacy for descendants, lifestyle improvements, unexpected expenses, inflation protection, or something. If a 100% pension as opposed ...
by Minty
Fri Jul 26, 2019 7:33 pm
Forum: Personal Investments
Topic: How much life insurance should I get? (baby on the way)
Replies: 44
Views: 2656

Re: How much life insurance should I get? (baby on the way)

I would recommend a 5 or 10 year renewable term rather than 20 or 30 years. I bought annual renewable term, and wish I had bought 25 or 30 year level term, just as White Coat Investor recommends . Given inflation, and increased income and commitments over time, which with any luck at all will outpa...
by Minty
Tue Jul 23, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Family Fraud
Replies: 45
Views: 5078

Re: Family Fraud

Earlier in my legal career, I was associated with a financial elder abuse unit in a state prosecutor's office. My sympathies to the OP; unfortunately, this happens all too often. Some people can rationalize anything; "gee whiz, someone with Alzheimer's won't even notice if their money is gone, and t...
by Minty
Sun Jul 14, 2019 10:47 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2708

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

A Maple Leaf or other coin will lose its original finish and otherwise wear if handled. Capsules are available for a buck or so each or less that will leave the coin visible, but prevent wear.
by Minty
Wed Jul 03, 2019 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 22072

Re: Do you share your net worth with family members?

My one concern is my children and the FAFSA application. I don't want them to know how much I have but the FAFSA application wants everything spelled out, down to the amount you have in your 401k. To me that's a big problem because they are the last ones I want to know what my net worth is and unfo...
by Minty
Sat Jun 22, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Frugal or cheap?
Replies: 106
Views: 9531

Re: Frugal or cheap?

Do you need the addition? Will you use it? Kids?
by Minty
Sat Jun 22, 2019 2:51 pm
Forum: Personal Consumer Issues
Topic: Do you Casino? What do you play? Have you won?
Replies: 82
Views: 5510

Re: Do you Casino? What do you play? Have you won?

The Boglehead in me buys the American Casino Guide and uses the coupons to make positive expectancy bets (match play, etc.) in Las Vegas. The sucker in me sometimes plays craps with no coupon. Last year, I lost a dime (total) on a trip to Reno and another to Vegas, so I am in the middle of a one or ...
by Minty
Sat Jun 15, 2019 8:08 pm
Forum: Personal Consumer Issues
Topic: Best way to teach my 4 year old to be fluent in Spanish?
Replies: 53
Views: 3723

Re: Best way to teach my 4 year old to be fluent in Spanish?

We gave our kids Spanish-language videos and books in elementary school and before, and sought out Spanish electives in school. (I wish we had done a Spanish immersion school.) One child took to it (eight years of Spanish in high school and college, plus a service trip to the Dominican Republic in h...
by Minty
Fri Jun 14, 2019 12:30 pm
Forum: Personal Investments
Topic: Investments for Children - equity percentage
Replies: 11
Views: 475

Re: Investments for Children - equity percentage

The money I put in my 18- and 20-year-old kids' Roth IRAs is 100% equities (index). A decade or so of that seems a reasonable risk.
by Minty
Thu Jun 13, 2019 12:29 am
Forum: Personal Investments
Topic: Vanguard 529 calculator - what to plug in?
Replies: 4
Views: 422

Re: Vanguard 529 calculator - what to plug in?

If you find that you've over-saved when the kids are little, you can throttle back in middle school or high school years.
by Minty
Sun Jun 02, 2019 10:35 am
Forum: Personal Investments
Topic: Do you regret taking a pay cut for quality of life?
Replies: 68
Views: 8240

Re: Do you regret taking a pay cut for quality of life?

I took a 70% pay cut at one point from a miserable job to an interesting one. It was a great move.
by Minty
Mon May 27, 2019 1:39 am
Forum: Personal Investments
Topic: Too many eggs in one basket?
Replies: 43
Views: 5077

Re: Too many eggs in one basket?

This strikes me as a case where it might be that a significant part of OP's compensation is in the form of the opportunity to buy shares in the employer. Under those circumstances, it may be that taking on the nondiversified risk is the right choice. I guess I would recommend hedging as much as poss...
by Minty
Sat May 18, 2019 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Debt: Student loan or cabin
Replies: 36
Views: 3042

Re: Debt: Student loan or cabin

student loan. It has higher rate. Agreed. And it is not dischargeable in bankruptcy. That does not appear to be a major consideration here, but all other things being equal, student loans are undesirable debt. And the fact that the overall interest on the cabin his higher given the higher balance i...
by Minty
Sat May 18, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 19490

Re: High net worth, elite private or “good” public

The 2 oldest are doing well. I have no problem spending money on education, but there is an argument for "if it ain't broke, don't fix it." The option to transfer to another school will always be there. Of course, if the public school does not offer the opportunity for AP classes, placement in appr...
by Minty
Sat May 18, 2019 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Term4Sale callbacks trying to upsell?
Replies: 25
Views: 1953

Re: Term4Sale callbacks trying to upsell?

By the way, a couple of posters mentioned that I will need more coverage as I age. Or that they wished they had bought more coverage in their earlier years. I thought the consensus was we should need less coverage as we age, since our net worth and ability to combat a financial crisis goes up? One ...
by Minty
Tue May 14, 2019 10:59 am
Forum: Personal Consumer Issues
Topic: PSA: Do you have working carbon monoxide detectors?
Replies: 44
Views: 2573

Re: PSA: Do you have working carbon monoxide detectors?

How do you make sure they are working? I have a CO detector inside my downstairs hallway right next to the garage door. Just 7 feet away through that door into the garage is my house heater. Last year I found a giant hole in the exhaust pipe from that heater. So I suspect when the heater ran it spe...
by Minty
Sat May 11, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Term4Sale callbacks trying to upsell?
Replies: 25
Views: 1953

Re: Term4Sale callbacks trying to upsell?

By the way, a couple of posters mentioned that I will need more coverage as I age. Or that they wished they had bought more coverage in their earlier years. I thought the consensus was we should need less coverage as we age, since our net worth and ability to combat a financial crisis goes up? One ...
by Minty
Fri May 03, 2019 1:28 am
Forum: Personal Investments
Topic: Company IPO'd. What's Next?
Replies: 37
Views: 4287

Re: Company IPO'd. What's Next?

I have to imagine these banks do make people money despite their fees, otherwise, why would people use them? Although the bankers who charge a percentage of assets under management have no special insight into the market (if they did, they would manage their own funds and make billions) they are wi...
by Minty
Thu May 02, 2019 8:48 pm
Forum: Personal Investments
Topic: Using 0% credit card balance transfers for additional investment capital
Replies: 15
Views: 1514

Re: Using 0% credit card balance transfers for additional investment capital

As one data point, back in the 2000s, I made $20K or $25K doing 0%, no-fee, cash advances and investing the proceeds in the highest high-yield savings accounts. At my peak, I had $280K in credit card debt, matched by $280K (plus interest) in bank deposits. When a good offer comes along , I do it aga...
by Minty
Wed May 01, 2019 11:47 pm
Forum: Personal Investments
Topic: Too late to start over with nothing?
Replies: 40
Views: 6567

Re: Too late to start over with nothing?

If you are not flush, consider keeping your savings at a bank other than the one which holds your mortgage. If they feel you owe them money, your contract may well allow them simply to take the money out of your account (set off). It is a risk.
by Minty
Wed May 01, 2019 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance?
Replies: 8
Views: 1093

Re: How much life insurance?

I like White Coat Investor's advice on this issue . Bear in mind that the 10x income amount rapidly becomes outdated (i.e., the good news and the bad news is that with inflation and career progression, 10x your income today may well be 8x or 6x in 10 years). So I agree with Stinky that rounding up t...
by Minty
Mon Apr 29, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Earned income for 9 year old
Replies: 52
Views: 3574

Re: Earned income for 9 year old

I learned from another thread that "Payments for the services of a child under age 18 who works for his or her parent in a trade or business are not subject to social security and Medicare taxes if the trade or business is a sole proprietorship or a partnership in which each partner is a parent of t...
by Minty
Mon Apr 29, 2019 12:18 am
Forum: Personal Investments
Topic: Investing in Business as a partner
Replies: 18
Views: 1020

Re: Investing in Business as a partner

In a span of less than 1 year, he has made a considerable reputation. Yelp & Google review is very positive. A lot of red flags on this deal, and, under the circumstances, this is one. It is not surprising that some customers enjoy a product made available at less than cost. Another issue: Why do t...
by Minty
Sun Apr 28, 2019 11:25 pm
Forum: Personal Investments
Topic: Investing in Business as a partner
Replies: 18
Views: 1020

Re: Investing in Business as a partner

Really not sure why you would consider putting money into a negative cash flow situation that involves a $4m loan. It seems too likely to be a losing proposition.
by Minty
Sat Apr 27, 2019 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to define wealth
Replies: 51
Views: 5160

Re: How to define wealth

I would define "wealthy" exclusively in financial terms. Health, friends, and family are sometimes said to be relevant to wealth, but to me, it distorts the meaning of the word to describe a miserable, lonely billionaire as something other than wealthy. "Wealthy" is not necessarily a synonym for hav...
by Minty
Sat Apr 27, 2019 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's First Job
Replies: 45
Views: 3925

Re: Daughter's First Job

If she asked me what I would do if I were her, I'd say move out of the parents' house no matter which job she took! I tend to agree that she should move out either way, especially if she did not go away to college and spend summers away. Let her choose based on which job is best for her career, rat...
by Minty
Thu Apr 25, 2019 11:12 am
Forum: Personal Consumer Issues
Topic: How much House should I Buy?
Replies: 51
Views: 4996

Re: How much House should I Buy?

Are you planning on having more kids? What does the rent v. buy calculation suggest? In any event, if it were me, I'd buy a townhouse in a great school district, at least if no more kids were on the horizon, to keep up a solid savings rate.