Search found 92 matches

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: 4139

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: 4139

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: 3745

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: 303
Views: 32043

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: 1297

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: 362
Views: 46900

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: 11771

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: 42
Views: 4664

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: Investing - Help with Personal Investments
Topic: Really need an advice: sell the house or rent it out
Replies: 40
Views: 2702

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: 176

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: 5060

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: Another "To Rent or Sell" Question
Replies: 10
Views: 844

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: 6865

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: 6865

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: 9194

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 enjoying ...
by boomer
Wed Nov 01, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 18853

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: 2378

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: 7341

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: Investing - Help with Personal Investments
Topic: Should I sell rental property before I would have to pay taxes on capital gains?
Replies: 18
Views: 1667

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: 5554

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 scum/dirt/ha...
by boomer
Sun Oct 22, 2017 2:35 am
Forum: Personal Finance (Not Investing)
Topic: On selling home to a child
Replies: 25
Views: 2258

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: 12781

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 retirement home. I...
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: 12781

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: 10857

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: 2441

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: 7394

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: 2441

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...
by boomer
Tue Sep 19, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Getting over emotional attachment to house
Replies: 70
Views: 7394

Re: Getting over emotional attachment to house

... That being said, I can offer one piece of advice: if you do decide to sell and move, don't ever, ever go back. I used to take what I referred to as "sentimental journeys" back to the area where I grew up as a small boy. It's nothing like I remember; rather than indulging in fond reminiscence, I...
by boomer
Mon Sep 18, 2017 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Getting over emotional attachment to house
Replies: 70
Views: 7394

Re: Getting over emotional attachment to house

No offense, but you ask about emotional attachment, but your analysis basically comes down to tangibles such a extra 100k in income, living in more senior friendly place, and HCOL at current. So is the question about emotional attachment or the best financial move? Either way, why make it so diffic...
by boomer
Mon Sep 18, 2017 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: My in-laws' nest egg of $50k
Replies: 34
Views: 4924

Re: My in-laws' nest egg of $50k

Just to clarify, a reverse mortgage does not require monthly payments. It provides monthly income. It is repaid when the borrower moves or dies. It might be something to look at if one passes away and they lose that portion of the social security benefit. Here is a link to an article from bankrate.c...
by boomer
Sun Sep 17, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Psychological effects of Early Retirement in peak earning years.
Replies: 63
Views: 8238

Re: Physiological effects of Early Retirement in peak earning years.

I was in the same situation at age 57. I had a high paying job that I loved going to work every day. I had enough retirement savings to live the lifestyle I wanted in retirement. I chose to retire and it was the smartest decision I ever made. For the past 9 years I have lived life on my terms with ...
by boomer
Sun Sep 10, 2017 3:36 pm
Forum: Personal Consumer Issues
Topic: Name something you had to have and now you regret purchasing it?
Replies: 387
Views: 46151

Re: Name something you had to have and now you regret purchasing it?

House with a pool. Since I stink at maintaining it and turned the water green we hire out for $170/month ($2040/yr) plus incidentals ranging from $50-$200/yr. In the last 5 years we had to re-line the pool and replaced the motor costing about $10k plus the extra electricity I figure in these 5 year...
by boomer
Tue Aug 29, 2017 3:10 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell my rental to pay off my primary residence?
Replies: 11
Views: 2041

Re: Should I sell my rental to pay off my primary residence?

I agree with the posters above that said the main question to ask yourself is if you want to be a landlord. If not, then sell. I would consult a tax professional ahead of time-maybe you already have-to make certain thatIf you know what your tax bill will be, so that you can plan for it. If you decid...
by boomer
Thu Aug 24, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement anxiety- emotionally and financially
Replies: 55
Views: 8073

Re: Retirement anxiety- emotionally and financially

Pardon in advance the ramble. Long time lurker and my increased job dissatisfaction makes me ponder retirement earlier than previously thought. I am frankly looking for financial objective advice (can we do it) and career advice (is this feeling normal?) Spouse and I are in our early 50's. 53(me), ...
by boomer
Tue Aug 22, 2017 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: School Redistricting - What should we do?
Replies: 96
Views: 9431

Re: School Redistricting - What should we do?

Here's an idea: If it is feasible, sell your current rental home and do a 1031 exchange into a rental property in the good school district area. In a few years when it is time for your child to go to high school, if it is still terrible, you could move into the rental property and sell your current ...
by boomer
Mon Aug 14, 2017 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: When to report 1031 exchange?
Replies: 11
Views: 931

Re: When to report 1031 exchange?

Did you use a qualified intermediary? If so, I believe that you will just wait til tax time to report the exchange. If you didn't use a qualified intermediary, the sale won't count as a 1031 exchange.
by boomer
Wed Aug 09, 2017 12:56 am
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 21781

Re: Life at crossroads. What would you do ?

It seems like maybe let spouse keep her job and you find a job that pays less. Yes I realize that means you may make less from now on. I guess maybe you would need to decide if you are okay with that. It seems like the other alternative is the long commute. Maybe do that for now before taking a lowe...
by boomer
Mon Aug 07, 2017 10:50 pm
Forum: Personal Consumer Issues
Topic: Advise on house selling
Replies: 29
Views: 2998

Re: Advise on house selling

I have sold a house twice using just the buyer's agent, which cut the commission down to 3%. Technically, the buyer's agent doesn't represent you, he/she represents the buyer; however, in this case, he/she acts as the go-between to handle the paperwork and definitely wants to make the sale happen, i...
by boomer
Mon Jul 31, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 20
Views: 1671

Re: 1031 Exchange

One more thought: Unfortunately all CPAs aren't created equally. If you think that you want to sell an as investment property a few years from now, I think you would need to find one that is experienced with exchanges. They would need to be willing to plug in some numbers and look at some scenarios ...
by boomer
Mon Jul 31, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 20
Views: 1671

Re: 1031 Exchange

I went to my H and R Block program and plugged in numbers for the property I need to sell. I have been renting it since 1987. If I live there two years there is an exclusion on some of the gain. Of course this is because I have owned it and rented it for so long. Also it is a single family home so t...
by boomer
Sat Jul 29, 2017 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 20
Views: 1671

Re: 1031 Exchange

Just as an FYI, and not regarding the 1031 exchange... from my understanding the 2 yr and 5 yr rules are based on 2 OF the 5 years prior to sale, not separate. Example 1, buy house as homestead; live there for 24 months; rent it for next 35 months; sell it just prior to month 60... you get the capi...
by boomer
Sat Jul 29, 2017 6:36 am
Forum: Personal Consumer Issues
Topic: Wooden flooring in kitchen
Replies: 51
Views: 5693

Re: Wooden flooring in kitchen

My house was built in 1998 so the wood floors are 19 years old. They are warm and beautiful and easy care. However in the kitchen area they are badly in need of refinishing. So there's that. It's not cheap. I'll be selling my home within the next couple of years though, so it will have to be done.
by boomer
Wed Jul 26, 2017 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Short term lease to home buyer
Replies: 32
Views: 1584

Re: Short term lease to home buyer

Well....how bad do you need this sale? Of course the realtor wants the sale to go through; he or she wants to get paid. Are you in a hot market? Maybe you could sell to another ready, willing and able buyer. Seems like this buyer isn't quite ready to perform. I don't know how these things go in a sa...
by boomer
Mon Jul 24, 2017 3:14 pm
Forum: Personal Consumer Issues
Topic: Anyone else extremely frugal?
Replies: 100
Views: 10736

Re: Anyone else extremely frugal?

forgot about this show...until now. Sharing The Bathtub | Extreme Cheapskates https://www.youtube.com/watch?v=saXtX7veXm0&index=9&list=RDisNkt6g4JgI I won't even point out the 1:25 point in the video.... :wink: Haha okay I didn't watch the whole video but did you see how dirty the water looked at t...
by boomer
Mon Jul 24, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Rental Property By Ourselves
Replies: 15
Views: 1287

Re: Selling Rental Property By Ourselves

I have sold 2 pieces of property with owner financing. One was an office condo and the other a rental property/duplex. One thing you will also need to look at is the loan servicing. Make sure to ask your accountant what you need to supply the buyer for the loan. Will you need to send monthly invoic...
by boomer
Mon Jul 24, 2017 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Rental Property By Ourselves
Replies: 15
Views: 1287

Re: Selling Rental Property By Ourselves

My wife and I want to sell a rental property we've owned for 30 years. In the past it was an old rural Mom and Pop store, we've rented it to a variety of small businesses over the years. It is zoned commercial and has 2 apartments. It needed work when we bought it, we've done a lot of work to it. I...
by boomer
Mon Jul 24, 2017 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 143
Views: 16953

Re: Another bay area housing thread..

Actually these responses are more positive than I thought I would hear from the boglehead community. Our hearts are set on buying a place, but the financial decision is daunting. At ~$1.7m, if one of us lost our job, we wouldn't be able to afford the home. Simple as that. If RSUs decreased by 50%, ...
by boomer
Sun Jul 16, 2017 1:01 am
Forum: Personal Finance (Not Investing)
Topic: Rent in safer neighborhood or buy in less safe one?
Replies: 67
Views: 6002

Re: Rent in safer neighborhood or buy in less safe one?

If you buy in the dangeous neighborhood, who will your kids be hangout with? Kids learn from their peers. If you cannot afford a 250k house, how do you afford to send your kids to private school? This is what I would be concerned about. Your children are young now, but in a few years will be playin...