Search found 953 matches

by miamivice
Fri Mar 16, 2018 1:57 pm
Forum: Personal Consumer Issues
Topic: Should I join Mensa?
Replies: 39
Views: 2736

Re: Should I join Mensa?

Based on how this thread is going, clearly Mensa is a group I should avoid, for fear of real life folks responding in a similar fashion!
by miamivice
Fri Mar 16, 2018 1:29 pm
Forum: Personal Consumer Issues
Topic: Should I join Mensa?
Replies: 39
Views: 2736

Re: Should I join Mensa?

Seems like a humble braggish thread. OP admits there is really zero benefit to it yet starts the thread anyway. Yeah, that's my real life concern. I'm not sure I could mention in passing that I have a Mensa related event to go to without sounding like I'm bragging. (Hey, thanks for inviting me for ...
by miamivice
Fri Mar 16, 2018 12:50 pm
Forum: Personal Consumer Issues
Topic: Should I join Mensa?
Replies: 39
Views: 2736

Should I join Mensa?

There is an organization out there for really smart people, called Mensa. It's intended for the top 2% of people out there. In order to join, you have to take a special test, they grade it, and then depending on results may admit you. I've toyed around with joining but am hesitant for a couple reaso...
by miamivice
Fri Mar 16, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: How does everyone here earn so much?
Replies: 131
Views: 8620

Re: How does everyone here earn so much?

Keep in mind, one can write whatever they want for their salary. I'm reasonably convinced that there is a certain amount of fibbing that goes on in these forums. While I'm sure that some folks have high salaries, I'm also sure that some folks have regular salaries but are embarrassed to post that so...
by miamivice
Thu Mar 15, 2018 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: How do restaurants in expensive cities make money?
Replies: 8
Views: 1040

Re: How do restaurants in expensive cities make money?

I live in a HCOL area, and have asked the exact opposite question. How do restaurants in rural areas (LCOL) make money? The difference is that in the HCOL area, restaurants tend to be very busy and have a lot of volume. In LCOL areas, especially rural areas, they don't have the same volume. For exam...
by miamivice
Wed Mar 14, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: 529 vs Taxable
Replies: 15
Views: 2193

Re: 529 vs Taxable

1. To plan on cash flowing college, you have to have cash flow at the time your kids are in college. If you find yourself without sufficient cash flow when your kids want to go to college, your up a creek! You might be between jobs, for example. I think saving for college, at least in part, is a wi...
by miamivice
Wed Mar 14, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

Something to keep in mind: The person who is deciding where to go to college is not a Boglehead. While most of us are focused on earning money, saving for retirement, and getting ahead financially, other people may have different goals in life. They may prioritize helping others; having a career wit...
by miamivice
Wed Mar 14, 2018 12:03 pm
Forum: Investing - Help with Personal Investments
Topic: Is my math wrong? - How much should I save monthly?
Replies: 26
Views: 2834

Re: Is my math wrong? - How much should I save monthly?

$1220 per month gets you to $600,841 in 16 years =FV(0.07/12,16*12,-1220,-56000) or http://dinkytown.com/java/InvestmentVariables.html But, as has been said by others, 7% is optimistic. Try running the numbers at 3-4% also so you have an idea of the lower end of the spectrum. 7% is fine for a 16 ye...
by miamivice
Wed Mar 14, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: 529 vs Taxable
Replies: 15
Views: 2193

Re: 529 vs Taxable

I'm trying to decide between contributing to a 529 or a taxable account. I would say there's a 50-50 chance I would deplete the taxable account to buy a more expensive house (possibly with cash) before my kids go off to college. I don't get a state tax break for a 529 account. I'm pretty sure my ki...
by miamivice
Wed Mar 14, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

OP: It sounds like you really don’t want D to go to a LAC because it’s not for you. You’ve also discouraged her from an expressed desire to go into law based on opinions held by you. I know you are well-meaning, but your opinions aren’t very helpful to D. She is not you. In fact, you are likely to ...
by miamivice
Wed Mar 14, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

The parent shouldn't pay for their children's college education until their retirement/FI is fully funded. Sorry, KlangFool, this statement is completely opposite to what my parents did and what I am doing and planning to do. Shikoku, 1) Will the children fund their parent's retirement? 2) The kids...
by miamivice
Wed Mar 14, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

My daughter wants to major in Arts. I say go right ahead. In fact, I told her that I will support her in whatever major that she chooses. Meanwhile, my son wants to major in Physic. I told him that I am not paying for that. Either he doubles major in Engineering and Physic or he has to find some wa...
by miamivice
Tue Mar 13, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

My suggestion is to support her with whatever she finds interesting. As a parent, I think it's our role to help our children explore various career paths. Taking her to the library, helping with personality and career choice tests, helping her meet people in various careers are all things that we ca...
by miamivice
Tue Mar 13, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

It's my opinion that parents should pay for any degree that their child is interested in (within reason), regardless of fond of the degree the parents are or whether they think the child will be successful with that degree. To do anything else, especially if there are siblings, has the issue of eith...
by miamivice
Tue Mar 13, 2018 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

KlangFool wrote:
Tue Mar 13, 2018 12:41 pm

3) IMHO, if my children have no idea how they are going to use their degree to earn a living, I am not paying for it.

KlangFool
Keep in mind that KlangFool thinks other parents shouldn't pay for their children's education; but magically, he paid for both of his own children's education.
by miamivice
Tue Mar 13, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice re: Liberal Arts Colleges...
Replies: 235
Views: 15140

Re: Need advice re: Liberal Arts Colleges...

deleted for privacy
by miamivice
Tue Mar 13, 2018 9:23 am
Forum: Personal Consumer Issues
Topic: Redfin implicit hidden costs.
Replies: 23
Views: 3781

Re: Redfin implicit hidden costs.

I'm thinking that Redfin may have hidden costs implicitly since it always involves 2 agents. . . . They seem to be an unnecessary middleman. As others have said, this is completely wrong. Redfin does not add any middlemen or agents over a standard transaction, as standard real estate transactions i...
by miamivice
Mon Mar 12, 2018 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: College costs not covered by 529
Replies: 30
Views: 2780

Re: College costs not covered by 529

Here are a few items that come to mind: - season tickets to football games for student - approx $230 - fitness center fee - $120 - fraternity / sorority fee - I have seen this as high as $500 per semester and as low as $50 per semester - cost of attending a football game for the parents and 2 sibli...
by miamivice
Mon Mar 12, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Calling home elevator owners
Replies: 15
Views: 2238

Re: Calling home elevator owners

The only issue we have is convincing the grandkids that it is not an amusement park ride. But once the novelty wears off, they are pretty good about it. I'm curious why having the grandkids use it as if it is an amusement ride would be a bad thing? 1. Wear and tear on the mechanisms. Residential el...
by miamivice
Mon Mar 12, 2018 10:32 am
Forum: Personal Consumer Issues
Topic: Calling home elevator owners
Replies: 15
Views: 2238

Re: Calling home elevator owners

CurlyDave wrote:
Mon Mar 12, 2018 5:51 am
The only issue we have is convincing the grandkids that it is not an amusement park ride. But once the novelty wears off, they are pretty good about it.
I'm curious why having the grandkids use it as if it is an amusement ride would be a bad thing?
by miamivice
Mon Mar 12, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: College costs not covered by 529
Replies: 30
Views: 2780

Re: College costs not covered by 529

I would think that having a student responsible for his/her own cell phone bill after high school graduation would be a good start on the march toward financial independence from parents. Offhand I'm not seeing exactly why a parent would need to fund a college student's cell phone bill....
by miamivice
Sun Mar 11, 2018 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Managing own 529 account
Replies: 4
Views: 572

Re: Managing own 529 account

529 money can be used for any purpose. There are taxes and penalties involved on the earnings if used for non-qualified purposes, but that doesn't restrict what they can be used for. Unlike a Roth IRA, you cannot select whether you withdraw contributions or earnings. You withdraw both proportionally...
by miamivice
Sat Mar 10, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

If you are younger and/or have a longer term income stream - you may want coverage well in excess of assets. No, they can't seize future income due to auto accidents. One can declare bankruptcy and the debt will be erased, and future income not touched. Where do you practice bankruptcy? Ever hear o...
by miamivice
Fri Mar 09, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

Is the rule of thumb that you need to cover your net worth? So if a person had 500k in assets they should have coverage of 500K for each of the major categories? If you are younger and/or have a longer term income stream - you may want coverage well in excess of assets. No, they can't seize future ...
by miamivice
Fri Mar 09, 2018 3:45 pm
Forum: Personal Consumer Issues
Topic: Furnace main control board fails after main blower replacement?
Replies: 8
Views: 793

Re: Furnace main control board fails after main blower replacement?

Sounds like there were two unrelated issues that happened about at the same time.

As long as it continues to work, I wouldn't worry about it.
by miamivice
Fri Mar 09, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Need help setting car insurance liability limits
Replies: 9
Views: 710

Re: Need help setting car insurance liability limits

Hi, first post. Thank you to all in advance for your insights, I have greatly benefited from this site. I want to sanity check my understanding of how to properly set car insurance liability limits. When I purchased car insurance some time ago, I didn't give much thought as to how much insurance to...
by miamivice
Fri Mar 09, 2018 12:10 pm
Forum: Personal Consumer Issues
Topic: No hot air or hot water, what are my options with the landlord?
Replies: 20
Views: 1090

Re: No hot air or hot water, what are my options with the landlord?

Actionable: I'd look up the official sounding government entity that might be interested in hearing you complain. (In my case, it's the The Florida Division of Consumer Services). Figure out what action you'd like the landlord to do (replace entire heater; pay for hotel; etc). Send them an e-mail th...
by miamivice
Fri Mar 09, 2018 12:03 pm
Forum: Personal Consumer Issues
Topic: No hot air or hot water, what are my options with the landlord?
Replies: 20
Views: 1090

Re: No hot air or hot water, what are my options with the landlord?

The sad thing is, renters generally don't have a lot of rights. While some cities may have good policies that protect renters, most do not.
by miamivice
Fri Mar 09, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Need help setting car insurance liability limits
Replies: 9
Views: 710

Re: Need help setting car insurance liability limits

Hi, first post. Thank you to all in advance for your insights, I have greatly benefited from this site. I want to sanity check my understanding of how to properly set car insurance liability limits. When I purchased car insurance some time ago, I didn't give much thought as to how much insurance to...
by miamivice
Thu Mar 08, 2018 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Are you ready for Amazon checking?
Replies: 42
Views: 6458

Re: Are you ready for Amazon checking?

Amazon is clearly on a monopoly path. I'll bet within 5 years they get investigated as a monopoly and either they dramatically change practices or they get split up. They are involved in too much of our life, from video doorbells to retail sales to grocery stores to banking to video rentals to web s...
by miamivice
Thu Mar 08, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Does it ever make sense to withdraw Roth IRA contributions to reduce credit card debt?
Replies: 18
Views: 1289

Re: Does it ever make sense to withdraw Roth IRA contributions to reduce credit card debt?

While I'm not going to create a spreadsheet and do the calculations, at standard credit card interest rates (often 14 - 18% interest), it's a slam dunk to withdraw contributions from a Roth IRA to pay it off. You free up cash flow that might be earning 5 - 8% ROI to pay off debt that is costing ~15%...
by miamivice
Tue Mar 06, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need umbrella insurance?
Replies: 21
Views: 1798

Re: Do I really need umbrella insurance?

The risk of getting sued for a claim that results in umbrella insurance paying out is very low. That's why it's cheap.

However, if you are sued and they win, the consequences would not be fun.
by miamivice
Tue Mar 06, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Donations to your enrolled public school
Replies: 106
Views: 6855

Re: Donations to your enrolled public school

Keep in mind something. You may run into a lot of people who proudly announce that they donate to the school. You may get the impression that everyone (or if not everyone, a lot of folks) donate to the school. But unless you are the treasurer who accepts the checks, you really have no idea how much ...
by miamivice
Mon Mar 05, 2018 10:06 pm
Forum: Personal Consumer Issues
Topic: Cheapest way to get spare car keys
Replies: 32
Views: 5259

Re: Cheapest way to get spare car keys

I'm not familiar with the 2014 Honda. With my 2004 era keys, you could program a third key if you had 2 keys. If you only had 1 key, you could buy a key off eBay, cut it at a hardware store, and then have the dealer program it. With my newest car, there is no alternative except for the dealer. Howev...
by miamivice
Mon Mar 05, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

While what you're saying is true, the mechanics are a little difficult. The other party knows neither your insurance limits nor your available assets. They have to make a decision whether to accept a settlement from your insurance carrier, which would prevent them from going after your assets, or t...
by miamivice
Mon Mar 05, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Should I agree to have my driving monitored in exchange for lower rates?
Replies: 65
Views: 5951

Should I agree to have my driving monitored in exchange for lower rates?

My insurance company (and many other carriers as well) are offering a program where I sign up to have my driving monitored, and in exchange, they lower my rates. They monitor driving performance by having me install an app on my phone that sends driving data back to the insurance company. A variety ...
by miamivice
Sun Mar 04, 2018 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: dad insists on gifting me all his money- help!
Replies: 23
Views: 4665

Re: dad insists on gifting me all his money- help!

Well, if he is of sound mind and wants to give you money, so be it. He can do what he wants with his money. However, if he is simply trying to transfer assets to get Medicaid to pay for LTC it gets a lot more complicated. For one, a medicaid paid facility and room can be subpar to one that you can p...
by miamivice
Fri Mar 02, 2018 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plans and financial aid
Replies: 28
Views: 1863

Re: 529 plans and financial aid

While the "need based" policies are noble in purpose, in practice, it seems to me that they are punitive to savers. If I or my son's grandparents frugally save and have a sizable bank account account and my neighbor buys a wake boat and a couple big international vacations, why should I pay more fo...
by miamivice
Fri Mar 02, 2018 12:57 pm
Forum: Investing - Theory, News & General
Topic: Goodbye Emergency Fund (sorta)
Replies: 34
Views: 4806

Re: Goodbye Emergency Fund (sorta)

The problem is if the economy gets bad, you can lose your job and the stock market goes down at the same time. If it is a bad market, your brokerage account (all stocks) could drop about 50%. You might then be forced to sell stocks when the prices are down. An emergency fund, or a bond fund would l...
by miamivice
Fri Mar 02, 2018 12:31 pm
Forum: Investing - Theory, News & General
Topic: Goodbye Emergency Fund (sorta)
Replies: 34
Views: 4806

Re: Goodbye Emergency Fund (sorta)

That's generally what we do. I don't have an emergency fund per se, but try to keep a couple months expenses as float. We draw this down for vacations, hobbies, big ticket items, etc. If for some reason we have a true emergency (which is usually job loss) we have plenty of brokerage funds that can b...
by miamivice
Fri Mar 02, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

So if I have less than a million I wouldn't get an umbrella but would just raise my auto coverage amounts to the amount of my assets? Me personally I would not get any less than $2MM umbrella even if my net worth is <$1MM. Obviously it's your choice, but for example if my base policy max was $500K ...
by miamivice
Fri Mar 02, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

However the plaintiff would be looking at your personal assets for a possible total $1MM pay day in court in weighing their options. Where it gets debatable is if my net worth is say $100K, is that worth going after by a plaintiff? IDK. Something to keep in mind is that your assets are private info...
by miamivice
Thu Mar 01, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Defining "House Poor"
Replies: 299
Views: 19961

Re: Defining "House Poor"

To be honest, while I think KlangFool is sincere, the manner in which he writes and how he makes disagreements personal, it really falls under the category of trolling. People keep responding to him the same way that folks engage trolls, even though we all know better. It's just too difficult to res...
by miamivice
Thu Mar 01, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

Is the rule of thumb that you need to cover your net worth? So if a person had 500k in assets they should have coverage of 500K for each of the major categories? If you are younger and/or have a longer term income stream - you may want coverage well in excess of assets. No, they can't seize future ...
by miamivice
Thu Mar 01, 2018 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

Is the rule of thumb that you need to cover your net worth? So if a person had 500k in assets they should have coverage of 500K for each of the major categories? Yeah, but most high net worth folks do that through umbrella insurance. I.e., have limits of auto insurance specified as required by umbr...
by miamivice
Thu Mar 01, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Defining "House Poor"
Replies: 299
Views: 19961

Re: Defining "House Poor"

If a mortgage payment, which is used to purchase an appreciating asset, limits the amount of spending one can do on travel and eating out, I don't think that is a bad thing from a financial standpoint. This is a point of contention. The Case-Shiller index finds that homes on average appreciate 0% t...
by miamivice
Thu Mar 01, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Financing Spouse's Education
Replies: 7
Views: 599

Re: Financing Spouse's Education

There are a lot of threads on this site about MBAs. You might want to search for them and share with your wife. I believe your wife should carefully consider whether a part time MBA program will really help with her future career prospects especially if it means dropping to less than full time empl...
by miamivice
Thu Mar 01, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Defining "House Poor"
Replies: 299
Views: 19961

Re: Defining "House Poor"

what is the rationale behind whole bunch of you trying to convince KlangFool to change his thinking? <beating_dead_horse_icon> Frankly, this topic should have been locked 250 replies ago. I would challenge any of you to tell me otherwise. No challenge here, I very much agree. Not my place to say ho...
by miamivice
Thu Mar 01, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: What are your auto insurance limits?
Replies: 59
Views: 6130

Re: What are your auto insurance limits?

I think I have this well optimized but wanted to see what others are doing. We have the following auto insurance limits: - Bodily injury: 250k individual / 500k incident - Property damage: 100k - Uninsured / underinsured: same as bodily injury & property damage above - Collision - $1000 deductible ...