Search found 329 matches

by Minty
Sat Aug 08, 2020 5:25 pm
Forum: Personal Investments
Topic: Student Loan Repayment Strategy/Investment
Replies: 8
Views: 406

Re: Student Loan Repayment Strategy/Investment

Do you need to have a dedicated sinking fund? It seems to me like if you've got a large enough cash flow and a large enough emergency fund or portfolio, you can just cover everything out of that. Thanks again. We likely could cash flow the funds, but my thinking is that if I get hit by a bus, I don...
by Minty
Sat Aug 08, 2020 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Seller Finance Sale of Inherited House
Replies: 4
Views: 256

Re: Seller Finance Sale of Inherited House

I might do it if the buyer passed a credit check, but I would want an attorney's fees provision in the mortgage in case you have to foreclose.
by Minty
Sat Aug 08, 2020 3:24 pm
Forum: Personal Investments
Topic: Student Loan Repayment Strategy/Investment
Replies: 8
Views: 406

Re: Student Loan Repayment Strategy/Investment

DD graduated from college in June, and spouse and I agreed from the beginning to repay her $27K in federal student loans. In addition to the federal loans, DD has $10K in institutional loans at 0% which, because I am a co-signer, I plan to repay myself, over time, out of her 529. DD's job qualifies...
by Minty
Sat Aug 08, 2020 1:44 pm
Forum: Personal Investments
Topic: Student Loan Repayment Strategy/Investment
Replies: 8
Views: 406

Student Loan Repayment Strategy/Investment

DD graduated from college in June, and spouse and I agreed from the beginning to repay her $27K in federal student loans. In addition to the federal loans, DD has $10K in institutional loans at 0% which, because I am a co-signer, I plan to repay myself, over time, out of her 529. DD's job qualifies ...
by Minty
Fri Aug 07, 2020 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth the House Upgrade
Replies: 39
Views: 2574

Re: Is it worth the House Upgrade

What do the girls think? Are they asking for separate rooms or would that make them sad? I think you have plenty of house, unless there is friction now. Ours is 2500 square feet or so, and with the kids mostly gone now, it is too big.
by Minty
Thu Aug 06, 2020 12:01 pm
Forum: Personal Investments
Topic: Help my Aunt decide on Edward Jones or somewhere else
Replies: 55
Views: 3043

Re: Help my Aunt decide on Edward Jones or somewhere else

The problem is that if she pays them a 1% annual fee and they put her in mutual funds that charge a fee that is 1% too high then that adds up to 2%. She would not see them take the money but that 2% needs to come out of her 4% so she would be paying them half of her spendable money each year. :shoc...
by Minty
Tue Aug 04, 2020 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Some people on this thread and elsewhere talk about being on their second, third, or fourth recent refi. I went from 4% (original purchase loan) to 3.5% to 3.25% to 2.875% to 2.5% now. Each time I felt it won't go lower... I still feel the same at 2.5% 😁😁 That really should be your signature line! ...
by Minty
Tue Aug 04, 2020 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Sorry if this has been covered but can y’all help me work through the no-cost vs lower rate approach. I have an offer for 2.125 on a 15-year fixed and $4k in closing costs. I could pay $0 in closing costs and pay 2.375 which ends up being about $60 more per month. What would y’all do? My vote is th...
by Minty
Tue Aug 04, 2020 6:32 pm
Forum: Investing - Theory, News & General
Topic: What happens if you run out of money in retirement?
Replies: 125
Views: 10969

Re: What happens if you run out of money in retirement?

livesoft wrote:
Tue Aug 04, 2020 11:58 am
HueyLD wrote:
Tue Aug 04, 2020 11:56 am
livesoft wrote:
Tue Aug 04, 2020 11:25 am
I'd move in with my one of my girlfriends.
Well, the girlfriends may not want the burden of an old broke man. :wink:
I have other assets.
A lively sense of humor?
by Minty
Tue Aug 04, 2020 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: College tuitions and how to help our daughter pay them
Replies: 85
Views: 4656

Re: College tuitions and how to help our daughter pays them

Congratulations on having a child finish high school and get admitted to college. I assume you already have some sense of whether she is a good student based on her high school performance. Either way, 20 hours of work a week is a lot for a full-time student planning to enter a highly competitive fi...
by Minty
Tue Aug 04, 2020 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Better.com says I cannot have the title issued in my living trusts name. Has anyone dealt with this before - my previous refi with BofA did not have this problem since they were able to get the title issued in name of my living trust after closing. Does any one know how difficult or expensive it wo...
by Minty
Tue Aug 04, 2020 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

I'd love some advice. Just found this forum. I plan to stay in my house 5-10 years; am 74. Am getting an unexpected $50,000 and want to use it for whatever makes the most financial sense--invest, refi, pay off loan with some invested funds, or recast. No other debts; enough money for life. Here's w...
by Minty
Mon Aug 03, 2020 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Any thoughts on timing of a re-refi? I closed on my first refi, as I have mentioned, at the end of June, and the rates have since dropped. Is there any strategy on when to do round 2? BTW, Better.com declined to match my LE in the last refi, and I asked for the then-$1000 guarantee. I sent in all of...
by Minty
Mon Aug 03, 2020 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Helping my mother financially (CCs and housing)
Replies: 21
Views: 2036

Re: Helping my mother financially (CCs and housing)

If it were my mother, and I were inclined to help, I would pay off the CCs as an outright gift, and help her with the process of refinancing the house to reduce the monthly outlay. That would keep her head above water and avoid bankruptcy, which sounds like it would be catastrophic in this case. Th...
by Minty
Sun Aug 02, 2020 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Helping my mother financially (CCs and housing)
Replies: 21
Views: 2036

Re: Helping my mother financially (CCs and housing)

If it were my mother, and I were inclined to help, I would pay off the CCs as an outright gift, and help her with the process of refinancing the house to reduce the monthly outlay. That would keep her head above water and avoid bankruptcy, which sounds like it would be catastrophic in this case. The...
by Minty
Sun Aug 02, 2020 2:31 am
Forum: Personal Investments
Topic: Paying 7y/o son as household worker
Replies: 82
Views: 5316

Re: Paying 7y/o son as household worker

When hiring your own children, you can pay them to do work for your business, but you cannot pay them to do personal household chores. What is the difference? A U.S. Tax Court case (T.C. Summary Opinion 2006-127) has shed light on this question. Michael D. and Christine R. Alexander v. Commissioner...
by Minty
Sat Aug 01, 2020 8:28 pm
Forum: Personal Investments
Topic: Re-balancing to three-fund portfolio
Replies: 15
Views: 1156

Re: Re-balancing to three-fund portfolio

Yes, refi the house, to a 15 year mortgage or to a 30 if you are concerned about cash flow. If you don't want to extend the term to 30 years, get a 30 anyway and pay extra so you are finished in 22 years. Look at the Refinance Mega Thread . The deals are unbelievable on no-cost refis. It is a no-bra...
by Minty
Sat Aug 01, 2020 7:10 pm
Forum: Personal Consumer Issues
Topic: Amex and Rakuten wine deal
Replies: 7
Views: 812

Re: Amex and Rakuten wine deal

Thanks for this great deal. I almost wish there were a dedicated BH deal thread. I really benefited from the Kidde fire extinguisher recall threat, the Refinance Mega Thread, this thread, and many others. A free-after-rebate half-case of wine every now and then does not hurt!
by Minty
Sat Aug 01, 2020 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: I was looking at getting the 1% cash back discover card. How many of you use debit cards all the time?
Replies: 79
Views: 3797

Re: Thinking about getting a debit card. Has anyone here be a victim with a debit card and what did you have to do abo

Once we lost $5K and another time nearly a grand, IIRC. In both cases, we had the cards in our possession, and were reimbursed. I now prefer ATM only, and disable debit cards or set charge limits to 0. Plus I like the points, extended warranties, car rental insurance, etc. from credit cards.
by Minty
Sat Aug 01, 2020 2:40 pm
Forum: Personal Investments
Topic: Selling gold via family member - tax implications?
Replies: 10
Views: 734

Re: Selling gold to family member - tax implications?

I am not a tax lawyer, but based on what I have learned on Bogleheads: I believe that there is no tax implication of the gift, except that if you (or you and your spouse) give more than the annual limit (15K each), you will have to file a gift tax return. (So pay tuition directly to the school when ...
by Minty
Sat Aug 01, 2020 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Unmotivated daughter and son in law.
Replies: 115
Views: 9512

Re: Unmotivated daughter and son in law.

Financially, this does not make sense. I am not sure whether the apartment at issue would be 400K or 800K: but either way, it would be (1) very hard to evict your child and grandchild if payments stop, and (2) much more expensive than subsidizing rent, in most places, if you are inclined to do that....
by Minty
Sat Aug 01, 2020 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Does anyone happen to know if Owning.com has a clawback if you refi again quickly? I closed a 15 at the end of June at 2.375%, but I see LoanCabin has that loan at 2%.
by Minty
Sat Aug 01, 2020 1:48 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1553
Views: 205321

Re: Post your Financial Milestone Announcements Here

When I checked Mint this morning, I saw that we (mid-early 50s couple) reached a milestone I saw mentioned years ago on Bogleheads but now cannot find. It was something like: "two commas, with the first number not being a 1 or a 2." This $3 million counts Zillow's calculation of home equity, Mint's ...
by Minty
Thu Jul 30, 2020 10:44 pm
Forum: Personal Investments
Topic: Secured Income Group - 12M 7.15% Fixed Rate Return
Replies: 9
Views: 2205

Re: Secured Income Group - 12M 7.15% Fixed Rate Return

They may be great company for all I know. But I myself would never, ever, consider it, because: (1) It is a tiny little operation with, according to their unaudited financials , under $6M in revenues in FY 2019. (2) The securities are restricted, i.e., not only not publicly traded, but nontransferra...
by Minty
Wed Jul 22, 2020 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance in CA with Owning.com
Replies: 15
Views: 1952

Re: Refinance in CA with Owning.com

Closed in late June 2020. No tricks, closed as promised in original loan estimate. 2.375 on a 15, around $350k, no cost.
by Minty
Wed Jul 22, 2020 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Has anyone actually collected the Better Price Guarantee, either at the $1,000 or $100 level? Better.com did not come close to my loan estimate, and, oddly enough, they have not contacted me in the several weeks since I filed a claim. Better has already beaten 2 competing LE's by $100 each for me. ...
by Minty
Tue Jul 21, 2020 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Has anyone actually collected the Better Price Guarantee, either at the $1,000 or $100 level? Better.com did not come close to my loan estimate, and, oddly enough, they have not contacted me in the several weeks since I filed a claim.
by Minty
Sun Jul 12, 2020 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Amex platinum annual fee
Replies: 20
Views: 2313

Re: Amex platinum annual fee

Yes. When I called to ask, they offered points or a $300 rebate for spending I think 3K. (I forgot to ask "Is that the best you can do" so I took the first offer.) And they went through some of the alternative benefits they have recently added which I had not noticed. But I used to be a 50K air mile...
by Minty
Wed Jul 01, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4608
Views: 316061

Re: Refinance Mega Thread

Just closed a 2.375 %, 15 year, no-cost refi in the neighborhood of $375K with Owning.com. LTV < 50%. Replaced a 3.0 % 20 year loan. Better.com declined to match or beat; they were minimally responsive and initially claimed I had not sent the LE in time--they will be strict about the one business da...
by Minty
Tue Jun 30, 2020 2:11 pm
Forum: Personal Consumer Issues
Topic: Your best Charity suggestion Please!
Replies: 22
Views: 735

Re: Your best Charity suggestion Please!

Helen Keller International seems to specialize in cost-effective blindness prevention. Highly rated on Charity Navigator and on GiveWell. I heard about them based on this philosophical experiment.
by Minty
Sun Jun 28, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Where should my nephew go to college?
Replies: 55
Views: 3420

Re: Where should my nephew go to college?

Look at things like persistence and graduation rates, and expenditures and endowment per student. It is nice to go to a school with good outcomes, and lots of resources. These characteristics are often not perfectly correlated with cost. It is true that one can get a good education at most schools, ...
by Minty
Sat Jun 20, 2020 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do [we] need life insurance?
Replies: 28
Views: 2239

Re: Do Bogleheads even need life insurance?

There are possible situations where your family might need it. Term insurance is inexpensive and you can easily afford it. Buy more than you think you need and be happy when it does not need to be used. Unless you are certain to be free of bad luck, litigation, or job loss, the above is my advice. ...
by Minty
Sat Jun 13, 2020 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup? What Should It Say?
Replies: 232
Views: 11556

Re: Prenup? What Should It Say?

No offense, but the time to get a prenup is before having a child. If I were representing your girlfriend in the negotiation of a prenup, and you had your own lawyer, between the two of us a nice chunk of that million would turn into legal fees. At this point, you may well have to choose between bei...
by Minty
Sat Jun 13, 2020 1:57 pm
Forum: Personal Investments
Topic: How much has Bogleheads saved you?
Replies: 38
Views: 3203

Re: How much has Bogleheads saved you?

I found here about owning.com and I refinanced from 3.75 to 3 for 30 years. Saved some thousands a year. Thanks, Starfish (and Bogleheads in general). Somehow I missed the earlier discussion of owning.com, but I called them this morning (Pacific Time), we've been exchanging documents, and we seem w...
by Minty
Sun Jun 07, 2020 12:48 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my $1 million life insurance policy after age 65?
Replies: 65
Views: 5044

Re: Should I keep my $1 million life insurance policy after age 65?

I have no idea if you would qualify, but I would look into selling the policy to one of those viatical settlement places.
by Minty
Wed Jun 03, 2020 11:37 pm
Forum: Personal Investments
Topic: Lump sum or traditional option..
Replies: 18
Views: 1192

Re: Lump sum or traditional option..

They would not offer a lump sum unless it was advantageous for them. That does not mean it might not be better in any particular case for the retiree, but it is something to consider.
by Minty
Wed Jun 03, 2020 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Pros/cons of utilizing mortgage deferral
Replies: 56
Views: 2608

Re: Pros/cons of utilizing mortgage deferral

If a sophisticated market participant like the government or a big business offers free money, it is safe to assume they have their reasons. My vote is to take the money.
by Minty
Thu Feb 20, 2020 11:09 am
Forum: Personal Consumer Issues
Topic: HS Latin or Spanish/ASL?
Replies: 63
Views: 2568

Re: HS Latin or Spanish/ASL?

I took three years of Latin, and in retrospect it was useless. On the other hand, some of my relatives and students are getting jobs based on speaking Spanish. If the decision is unrelated to tangible benefits, or the child really, really hates Spanish, let the child do whatever. But if it is based ...
by Minty
Tue Feb 18, 2020 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Had a baby and received generous check from her great grandparents. Now what?
Replies: 157
Views: 11664

Re: Had a baby and received generous check from her great grandparents. Now what?

All these responses about depositing a check under one’s name, when the check is made out to the kid, not the parent, are pretty discouraging. Yes, I understand that every single poster here has nothing but the best intentions, but the fact is, this is not YOUR money. It’s your kid’s, and regardles...
by Minty
Tue Feb 18, 2020 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Had a baby and received generous check from her great grandparents. Now what?
Replies: 157
Views: 11664

Re: Had a baby and received generous check from her great grandparents. Now what?

My two cents: To be sure, the best practice is to deposit a gift to a child in an account owned by the child. But in many cases, the risk is low and the transaction costs not worth it. If grandma gives my 3 year old a $50 for treats on next year's trip to Disney, I am going to put the bill in my wal...
by Minty
Sun Feb 16, 2020 3:15 am
Forum: Investing - Theory, News & General
Topic: How much should I offer for this brick and mortar business?
Replies: 75
Views: 5683

Re: How much should I offer for this brick and mortar business?

I do small business consulting and actually own two banquet facilities (real estate and fixtures). My ironclad rule of business is I simply refuse to assist clients or engage in commerce with those who knowingly and willingly commit tax fraud. That makes them a dishonest - period. I routinely run i...
by Minty
Sat Feb 08, 2020 8:50 pm
Forum: Personal Consumer Issues
Topic: Lifetime Warranty Strategy
Replies: 19
Views: 2145

Lifetime Warranty Strategy

After buying, for example, generic Apple iPad and iPhone charging cables that failed after a few months, I am considering a strategy which would involve searching out products with lifetime warranties, and being diligent about keeping paperwork and making claims. I don't like to return a product to ...
by Minty
Mon Jan 27, 2020 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: 15yr vs 30yr mortgage
Replies: 33
Views: 2959

Re: 15yr vs 30yr mortgage

At this price differential, I'd take the 30 year. I say this as someone who paid a premium for a good rate on a 20.
by Minty
Tue Jan 14, 2020 12:28 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1477
Views: 173176

Re: What frugal thing did you do today?

I did not tip the Uber drivers today (two trips). Uber Black. Saved some money to be frugal. I did give each driver a rating of 5 stars. They did a good job. That is the ultimate of cheap. Bet a wooden nickel that Trader Joe is joking with us. My frugality budgets for tipping every hotel housekeepe...
by Minty
Sun Jan 12, 2020 3:37 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1477
Views: 173176

Re: What frugal thing did you do today?

My bar of soap in the shower was getting very thin - so I unwrapped a new bar and wet the new and old, thin bar - and put them together - so no soap is wasted. My grandmother used to "marry" soaps. I save the soap from my 30 or so annual nights in hotels for use at home, and squish them together wh...
by Minty
Sun Jan 12, 2020 3:24 pm
Forum: Personal Consumer Issues
Topic: College Reunion Destination
Replies: 49
Views: 3490

Re: College Reunion Destination

I vote for New Orleans even if there will be a repeat. Alternatively, Charleston, Pittsburgh, or Las Vegas
by Minty
Sun Jan 05, 2020 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Name on Deed to home question
Replies: 17
Views: 1514

Re: Name on Deed to home question

The fact that bankruptcy seems to be in your son's future is a strong reason not to put your assets in his name. In any event, giving him a house will likely exceed gift tax limits and require a return. Even if you are going to give him the house eventually, you might as well do it by will and give ...
by Minty
Thu Jan 02, 2020 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Parents vs. Kids Paying for College
Replies: 171
Views: 6993

Re: Parents vs. Kids Paying for College

If someone told me what they wanted for a gift, when I asked them what they wanted for a gift, I would in no way be offended, but apparently that's just me. I for one think your handling of it is perfectly reasonable. There's a reason for wedding registries, gift receipts and returns, etc. Of cours...
by Minty
Wed Jan 01, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: To what do you owe your ability to forego spending now and save for your future?
Replies: 116
Views: 5180

Re: To what do you owe your ability to forego spending now and save for your future?

tigermilk wrote:
Wed Jan 01, 2020 9:09 am
An understanding of mathematics.
I think I am thinking along the same lines as you. I would say reason and free will (or the illusion of those things).