Search found 113 matches

by boomer
Fri Jan 22, 2021 1:12 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 26143

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

[/quote] Some multi millionaires even do their own taxes, change their own oil, cut their own hair, and wash their own clothes. I do those things. I’m also willing and able to gut-renovate kitchens and bathrooms, although I haven’t done it in a while. After a while, sitting around counting your mill...
by boomer
Tue Jun 16, 2020 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Parents in a tough situation for retirement
Replies: 117
Views: 13741

Re: Parents in a tough situation for retirement

The real estate business idea is not a good one for your parents. Your brother can give it a go if he wants to, but your parents, especially your mom, should stay with the business she knows and is successful at. I would express that to your brother. I fear your Dad is getting too old to be getting ...
by boomer
Mon May 18, 2020 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Discarding old tax returns
Replies: 62
Views: 5804

Re: Discarding old tax returns

Aren’t most middle class house sales tax free? You can exempt $250K (single) or $500K (married) of profit on the sale of your home. So if you only live in it a few years before selling, then the exemptions probably do make most home sales tax free. But it's easy to exceed the exemption if you bough...
by boomer
Mon May 18, 2020 11:20 am
Forum: Personal Finance (Not Investing)
Topic: $5k - $7k to replace engine, or get something else? (loan on car)
Replies: 109
Views: 7299

Re: $5k - $7k to replace engine, or get something else? (loan on car)

I didn't read all the responses, but here are a couple ideas. If you haven't been able to get Acura to cover the repair, you could try posting your story and a request for action on their Twitter feed. I haven't tried this, but have heard of others doing this. Companies don't like bad publicity, so ...
by boomer
Wed May 13, 2020 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: how much to charge for two large dogs at rental
Replies: 41
Views: 2685

Re: how much to charge for two large dogs at rental

I'm curious, do the two large dogs pose an increased liability to the landlord? Say one of the dogs bites a visitor of the renters, any liability to landlord? Broken Man 1999 Yes, possibly. He should check with his insurance company. My insurance company will not insure certain breeds of dogs, and ...
by boomer
Wed May 13, 2020 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: how much to charge for two large dogs at rental
Replies: 41
Views: 2685

Re: how much to charge for two large dogs at rental

As landlords, we have charged a pet deposit but have never charged a monthly pet rent. Maybe we should get on board with that. I think as far as a pet deposit, you should probably charge what is customary for the area. In addition to the pet deposit, we charge a cleaning/security deposit. Pets can d...
by boomer
Mon Apr 20, 2020 12:53 am
Forum: Personal Consumer Issues
Topic: Convince me - for or against bigger home
Replies: 106
Views: 7863

Re: Convince me - for or against bigger home

Another way to look at this - I can retire one year later - and that one years earnings will more than pay for the delta in home prices... Looks like you've retooled your space, OP, so you've taken care of things for now. Going forward, however, I'd second the posters above who suggested working wi...
by boomer
Tue Mar 24, 2020 5:36 pm
Forum: Personal Consumer Issues
Topic: Costco Senior hour Tue and Thur
Replies: 70
Views: 5993

Re: Costco Senior hour Tue and Thur

Went this morning to Walmart senior hour at 6 a.m. Too many people! Had a lot of shopping to do and noticed by 7 that very few people were in the store. Just go at seven. Were there security guards checking IDs to ensure that only seniors were allowed in? They had someone at the door greeting peopl...
by boomer
Tue Mar 24, 2020 10:42 am
Forum: Personal Consumer Issues
Topic: Costco Senior hour Tue and Thur
Replies: 70
Views: 5993

Re: Costco Senior hour Tue and Thur

Went this morning to Walmart senior hour at 6 a.m. Too many people! Had a lot of shopping to do and noticed by 7 that very few people were in the store. Just go at seven.
by boomer
Mon Mar 02, 2020 7:59 pm
Forum: Personal Consumer Issues
Topic: Postponed travel due to Corona Virus. Am I am overreacting ?
Replies: 232
Views: 24557

Re: Postponed travel due to Corona Virus. Am I am overreacting ?

We have a four-person trip to Washington state with my two 70-year old parents and DW April 4-10. I'm curious to see what happens with airline and any other news. I seem to be the only one even thinking this is an issue so it would be awkward to even keep addressing it without more definitive news....
by boomer
Thu Feb 13, 2020 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to consider quitting my job?
Replies: 128
Views: 14476

Re: Am I crazy to consider quitting my job?

My perspective: There is NOTHING more important than loving parents raising their children and teaching the family values that are important to the parents. That means if you can spend time with them showing you care, you value their activities by being there, you are there for the bumps and bruise...
by boomer
Sat Jan 18, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property--Do numbers make sense to keep??
Replies: 55
Views: 4166

Re: Rental Property--Do numbers make sense to keep??

My vote is to definitely sell. You said you aren't particularly interested in being a landlord and it isn't making much money. Sell it before it gets damaged by a renter or something happens to the property that causes costly repairs.
by boomer
Fri Sep 27, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 21707

Re: financially clueless senior MIL who thinks she’s rich

Lots of great advice here. I like the advice to first, help her downsize and sell her home, and then, purchase an annuity that will provide income for the assisted living. And, if at some point she has to go on Medicaid, so what? By then she will be very elderly and not able to do much anymore. Your...
by boomer
Fri Sep 27, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 275
Views: 52585

Re: Cash - Throw it all on the table!!!

I like to have 60K in the online savings account.
by boomer
Fri Sep 27, 2019 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?
Replies: 24
Views: 5211

Re: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?

I'm not a lawyer either, just have done some reading on this in the past. The husband may be bankruptcy proof if all he has is social security, retirement accounts, and his mobile home. I believe that they cannot take his social security or retirement accounts, or his home.
by boomer
Thu Apr 18, 2019 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Weigh in on our Marital Argument =)-- HCOL edition
Replies: 110
Views: 14270

Re: Weigh in on our Marital Argument =)-- HCOL edition

We are in a very similar situation. Similar housing costs, same number of children, similar ages in a VHCOL area. Our place is a little smaller at 900 sq ft. When the spouse's parents come to visit it is normally for 1-2 months as they have to travel half way around the world. They stay with us (li...
by boomer
Wed Apr 17, 2019 4:01 pm
Forum: Personal Consumer Issues
Topic: microwave that doesnt beep forever?
Replies: 24
Views: 1867

Re: microwave that doesnt beep forever?

My husband stopped ours from beeping altogether. I think he went into the controls and disabled the speaker? Not sure. Maybe you could Google it. :)
by boomer
Mon Feb 11, 2019 6:05 pm
Forum: Personal Investments
Topic: Rent or sell house
Replies: 9
Views: 1207

Re: Rent or sell house

Another thing to consider is that you are losing your tax-free capital gain if you don't sell it as your primary home. Will there be a sizable capital gain? I am guessing that you have enough down payment to purchase another home without the funds from this home? If it is sold later as a rental, the...
by boomer
Mon Jan 07, 2019 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae Bank
Replies: 2
Views: 332

Re: Sallie Mae Bank

I've had a Sallie Mae money market account for several years. It is where I keep short-term savings/emergency funds. They are competitive with their interest rates. A feature that I enjoy is that you can write up to six checks a month. This has been helpful when I've needed to transfer some money to...
by boomer
Tue Nov 13, 2018 9:55 pm
Forum: Personal Consumer Issues
Topic: New phone suggestions? My LG V20 phone is kicking the bucket.
Replies: 22
Views: 1524

Re: New phone suggestions? My LG V20 phone is kicking the bucket.

I bought a new LG10 that kicked the bucket early, so I wouldn't get another LG. I have been using a second-hand Nexus P for a few months that seems pretty solid and has nice features.
by boomer
Thu Aug 23, 2018 4:12 pm
Forum: Personal Consumer Issues
Topic: Short Term Health Insurance regulation changes - good for age 62 retirement?
Replies: 82
Views: 5136

Re: Short Term Health Insurance regulation changes - good for age 62 retirement?

Three points: 1. One year plans are coming, per a conversation with Priority Health today. They expect to have them available by the end of the year (before my retirement date). The revised HHS rule allows for 2 renewals (3 years total). That was the original point of my post. 2. In Michigan they h...
by boomer
Thu Aug 23, 2018 2:50 pm
Forum: Personal Consumer Issues
Topic: Short Term Health Insurance regulation changes - good for age 62 retirement?
Replies: 82
Views: 5136

Re: Short Term Health Insurance regulation changes - good for age 62 retirement?

David Jay, I am also looking at a policy like this. I have already retired and have been on my spouse's policy. However, he will be retiring soon and I will need two year's coverage. I can't meet the income requirement for a discount on ACA insurance. I just need worse case scenario coverage as I fe...
by boomer
Fri Aug 10, 2018 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Landlord advice needed with section 8
Replies: 38
Views: 4167

Re: Landlord advice needed with section 8

Well...you could always sell the place and do a 1031 exchange and buy a differentr property in an area of town that doesn't have a rent moratorium. It sounds like the local laws are discouraging small-time landlords from being in business. I guess you have to decide whether it is worth it to you to ...
by boomer
Fri Jul 13, 2018 1:48 am
Forum: Personal Consumer Issues
Topic: Concierge medicine Worth It????
Replies: 317
Views: 40606

Re: Concierge medicine Worth It????

My husband's doctor is going to this business model. I think she is charging $1500 per year. He was wondering if he should do it. Decided against it though because he has had some issues that honestly she has been no help with! So I can see how, if you have a good doctor, you may feel it is worth it...
by boomer
Mon Jun 04, 2018 7:05 pm
Forum: Personal Consumer Issues
Topic: Would like to bounce some ideas regarding renting a home or condo
Replies: 16
Views: 1581

Re: Would like to bounce some ideas regarding renting a home or condo

As a landlord, in our area it is extremely unlikely for the landlord to provide the washer and dryer. Usually tenants need to own their own, even if they are renting an apartment that has hookups. Usually if you are renting an apartment the fridge will be there. If it is a house though, it may or ma...
by boomer
Mon Apr 30, 2018 12:10 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 374
Views: 59876

Re: MoviePass-Too good to be true, but it's legit.

No theatres in my area. :( Town is around 50,000. Too small I guess.
by boomer
Thu Apr 26, 2018 11:18 pm
Forum: Personal Consumer Issues
Topic: Nomadic lifestyle in their 50s
Replies: 101
Views: 16129

Re: Nomadic lifestyle in their 50s

emotionally, if we are not going to settle long term in Seattle, my SO does not want the hassle of keeping and renting out the condo. I will probably go along with this - and figure out where we want to rent a small apt as our home base. We went through and cataloged our 'stuff' a couple of weeks a...
by boomer
Fri Apr 06, 2018 2:39 am
Forum: Personal Consumer Issues
Topic: Cleaning up new house before move in—getting rid of “cat smell”
Replies: 59
Views: 22804

Re: Cleaning up new house before move in—getting rid of “cat smell”

As a landlord that has cleaned up houses after a cat, the worst problem we have had is with carpets when a cat has actually peed on them. In that case, we had to pull the carpet and pad, paint the wood subfloor or concrete to seal it, and then lay the new flooring or carpet. And that has worked fine...
by boomer
Sat Feb 17, 2018 2:57 pm
Forum: Personal Investments
Topic: Really need an advice: sell the house or rent it out
Replies: 40
Views: 3310

Re: Really need an advice: sell the house or rent it out

Definitely sell. Keeping the house will add a level of stress to your life that you do not need, and it sounds like being a landlord is not something you are choosing to do as business. Having a rental property that is a long distance away may turn into a nightmare. There are five year CDs now yield...
by boomer
Mon Jan 01, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone have or used United Healthcare temporary insurance?
Replies: 0
Views: 234

Does anyone have or used United Healthcare temporary insurance?

I am wondering if anyone on this forum has purchased or used this type of short-term insurance. I am thinking about the possibility of using it as a stopgap between workplace health insurance coverage and Medicare. The website says it can be renewed until age 65. Yes, I realize it is not Major Medic...
by boomer
Mon Jan 01, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Restricted Application
Replies: 28
Views: 5771

Re: Social Security Restricted Application

This thread has been very helpful. We applied last week for restricted spousal benefits for my spouse. I started social security at 62; my husband is turning full retirement age, 66, in February and will collect spousal on my record until he switches to his own benefit at age 70. We applied online a...
by boomer
Mon Nov 20, 2017 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: DELETE
Replies: 10
Views: 995

Re: Another "To Rent or Sell" Question

If you sell, you will not pay capital gains tax, as it is your primary home. If you rent it for a couple of years and then want to sell, you will have capital gains tax in addition to 25% recapture tax on the depreciation. I would not do it, and I am a landlord. I would sell. Then figure out if you ...
by boomer
Sun Nov 05, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: College student... Financial mess... Need advice...
Replies: 58
Views: 7464

Re: College student... Financial mess... Need advice...

Cash for keys. She obviously has financial issues. Offer her $1500 or $2000 cash if she leaves and turns in her keys. Then coordinate with landlord to immediately change locks. Also try to negotiate a lump sum payment to landlord to end lease early. Yes, it will feel financially painful to do this,...
by boomer
Sun Nov 05, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: College student... Financial mess... Need advice...
Replies: 58
Views: 7464

Re: College student... Financial mess... Need advice...

Another landlord here. I think the best and hopefully effective approach would be: 1. Figure out a way to get the girlfriend to move. Pay her, help her to move, etc. Unless this can be accomplished, the OP will probably need to pay at least half the rent for the rest of the term. He should tell the ...
by boomer
Sun Nov 05, 2017 1:53 am
Forum: Personal Finance (Not Investing)
Topic: Does Retirement Make You Lazier?
Replies: 87
Views: 10048

Re: Does Retirement Make You Lazier?

It sounds to me like you are just tired of taking care of the yard and cleaning the house. These might be interesting for some but maybe since you have done them for so many years they are mundane now. I don't think it's "lazy" to outsource these if you have the budget. Sounds like you are...
by boomer
Wed Nov 01, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 21769

Re: 2018 ACA rates now live....

This thread has been very disheartening. For someone who plans on early retirement it is downright frightening to do so. As a new retiree I can state the scares are no worse than those provided via market volatility. If you can manage your income to stay under 400% of the federal poverty level, for...
by boomer
Mon Oct 30, 2017 9:58 am
Forum: Personal Consumer Issues
Topic: Buying a Home in a 500 year Flood Plain
Replies: 32
Views: 4592

Re: Buying a Home in a 500 year Flood Plain

I would be concerned about reselling the home and resale value when it is time to sell again.
by boomer
Thu Oct 26, 2017 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: My fear about buying a house justified?
Replies: 72
Views: 8095

Re: My fear about buying a house justified?

I would say keep renting your one bedroom. Buy a nice high queen-size air mattress with a built-in pump, or get a sofa with a good quality pull-out mattress for when people stay over. Or you can buy them a hotel room nearby, or contribute to the cost of a hotel room, however you see fit. Either way ...
by boomer
Wed Oct 25, 2017 6:01 pm
Forum: Personal Investments
Topic: Should I sell rental property before I would have to pay taxes on capital gains?
Replies: 18
Views: 1950

Re: Should I sell rental property before I would have to pay taxes on capital gains?

I would sell and get the capital gains exclusion. You can always purchase another rental property, if you truly want one. The capital gains exclusion is not easy to come by.
by boomer
Sun Oct 22, 2017 2:48 am
Forum: Personal Consumer Issues
Topic: Tub Cleaning Issue - Soap Scum
Replies: 32
Views: 8933

Re: Tub Cleaning Issue - Soap Scum

I have had good results using commercial "soap scum" spray cleaners. Use patience though. Spray down the tub with it. Wait several minutes to let the chemicals work. Scrub with a nylon scrubber or scrub brush. Rinse with hot water. Repeat this as many times as it takes to get all of the sc...
by boomer
Sun Oct 22, 2017 2:35 am
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 2604

Re: On selling home to a child

I have done some reading as far as taxes go regarding this, because there is a chance we may do something similar. So you might want to read up on the tax law, or consult a CPA. From what I understand, it may be better to sell the house to your child at full price, to avoid an issue with the IRS. Yo...
by boomer
Thu Oct 19, 2017 11:27 am
Forum: Personal Finance (Not Investing)
Topic: how long did it take to get used to retirement
Replies: 105
Views: 16020

Re: how long did it take to get used to retirement

I retired from my chosen career in 2008 and am now in my "second career." As I started my second career I was 46 and decided to set various goals for my final - final retirement which I decided would be in 10 years at 56. The key decision for me was to buy a small horse farm as a retireme...
by boomer
Tue Oct 17, 2017 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: how long did it take to get used to retirement
Replies: 105
Views: 16020

Re: how long did it take to get used to retirement

I retired from my job 3 months ago at age 59. Although I gave it a lot of thought before I actually pulled the trigger and had 3 trips planned immediately so that I was retiring TO something I am now home and experiencing let down. I guess I was just delaying the inevitable by keeping myself so bus...
by boomer
Sat Sep 23, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 12529

Re: Age you retiredi

I retired at 61 1/2 due to downsizing last year I had planned on working two more years but that's the way goes I think a lot of people end up leaving before they plan to for various reasons It took me six months for the shell shock to wear off off I'm doing well and and looking forward to Medicare...
by boomer
Tue Sep 19, 2017 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Rental Property Decision
Replies: 30
Views: 2656

Re: Help With Rental Property Decision

Thank you for the responses Yes I am aware that I will have to pay tax on recaptured depreciation. Another reason to sell sooner rather than later For many reasons its not an option for me to move there. I appreciate all the various perspectives on reasons to sell and to wait. I would love some mor...
by boomer
Tue Sep 19, 2017 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Getting over emotional attachment to house
Replies: 70
Views: 9028

Re: Getting over emotional attachment to house

Petrocelli, I am not a homeowner but think I understand this - here goes: your new house has absolutely no impact on the calculation. Neither does your mortgage balance. What matters is your cost basis in the house you are selling, and the sale price (not your proceeds after paying down the mortgag...
by boomer
Tue Sep 19, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Rental Property Decision
Replies: 30
Views: 2656

Re: Help With Rental Property Decision

Just wondering if you have talked to your tax professional regarding what your tax liability will be when you sell? Not trying to stress you out, but you will want to know what to expect. Even if you don't have a profit on the condo when you sell, I believe that there will be 25% recapture tax on th...