Search found 1218 matches

by spectec
Wed Nov 14, 2018 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Wait, do I need a prenup?
Replies: 63
Views: 6257

Re: Wait, do I need a prenup?

I suppose everybody's different. For the past 48 years, my wife and I have viewed marriage as a 100% partnership. Two partners, each giving 100%.
by spectec
Mon Nov 05, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5894

Re: Deal fell through and didn't get escrow money.....

Legally I don't think the amount is important. The only issue is that "consideration" be present in order to make it an enforceable contract, so a check for $1.00 would be sufficient to satisfy that element. But people get hung up on what constitutes a "reasonable" deposit in order to show good fait...
by spectec
Sun Nov 04, 2018 6:59 pm
Forum: Personal Consumer Issues
Topic: Neighbor wants to buy house out of blue but wants us to come up with offer
Replies: 31
Views: 5280

Re: Neighbor wants to buy house out of blue but wants us to come up with offer

Next person to speak loses.
He approached you - he needs to put forth a number, with terms and conditions.
Anything you say other than "Make me an offer" tips your hand.
by spectec
Sun Nov 04, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5894

Re: Deal fell through and didn't get escrow money.....

Well then, the percentage is 100% - in your case.
I'm sticking with an estimate of less than 20% overall.
by spectec
Sun Nov 04, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5894

Re: Deal fell through and didn't get escrow money.....

I'd venture to guess that the earnest money is forfeited in less than 20% of the cases when a deal falls through. Even that figure may be a little high. Earnest money helps honest people act ethically, and is just a speed bump for unethical people.
by spectec
Sat Nov 03, 2018 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5894

Re: Deal fell through and didn't get escrow money.....

From a practical standpoint, a contract contingent on the sale of the buyer's house is only half a contract anyhow.
by spectec
Sat Nov 03, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5894

Re: Deal fell through and didn't get escrow money.....

Seems to me the deposit should go back to the buyer in this situation. Absent some provision to the contrary in the contract, the known contingency was simply not fulfilled, so the buyer did not act in bad faith. If the seller wanted all or part of the deposit to become nonrefundable at some point, ...
by spectec
Sat Nov 03, 2018 11:06 am
Forum: Personal Consumer Issues
Topic: Buy or Lease New Car (Small Business Tax Question)
Replies: 5
Views: 442

Re: Buy or Lease New Car (Small Business Tax Question)

How much will the car be legitimately driven for business purposes? I would drive it to work daily. In addition, it would be used to transport employees and business related material approximately once per week to different marketing events. Also, the occasional conference would be the only long di...
by spectec
Fri Nov 02, 2018 8:19 pm
Forum: Personal Consumer Issues
Topic: Buy or Lease New Car (Small Business Tax Question)
Replies: 5
Views: 442

Re: Buy or Lease New Car (Small Business Tax Question)

How much will the car be legitimately driven for business purposes?
by spectec
Wed Oct 31, 2018 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Travelers Checks
Replies: 36
Views: 2323

Re: Travelers Checks

I'd never travel anywhere without cash on hand, generally $200 - $300 domestically and $500 - $800 internationally. Have rarely needed to hit the emergency stash, but it was certainly valuable on those rare occasions when necessary. It's also wise to have some of the local currency on hand before de...
by spectec
Sun Oct 28, 2018 8:27 am
Forum: Investing - Help with Personal Investments
Topic: Double taxation
Replies: 6
Views: 1328

Re: Double taxation

+++1 - very through response, and right on target on all points.
by spectec
Fri Oct 19, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 4089

Re: Approach to rescinding a job acceptance

I say make the phone call and move on. If the prospective employer is so petty as to black list you in this situation, then you're probably better off not working for them anyhow. Do what's in your best interests - you can be sure they would. If circumstances called for rescinding the offer after yo...
by spectec
Fri Oct 19, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: SCHEDULE B: Forgot attaching banks list
Replies: 4
Views: 612

Re: SCHEDULE B: Forgot attaching banks list

I filed my 2017 tax (before extension deadline and filed paper forms) but in SCHEDULE B (Interest and Ordinary Dividends), where I correctly reported the total interest from all other banks, I forgot to attach the list although the total amount was reported correctly. The reason I forgot was that t...
by spectec
Thu Oct 18, 2018 4:03 pm
Forum: Investing - Theory, News & General
Topic: Sears, a 125 year old company is now a penny stock.
Replies: 123
Views: 14765

Re: Sears, a 125 year old company is now a penny stock.

They're declaring bankruptcy, yet I'm still getting emails from them asking me to purchase appliance service contracts. :oops:
by spectec
Tue Oct 09, 2018 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: New Corp Questions
Replies: 9
Views: 708

Re: New Corp Questions

Well, at least we've given it a couple of bumps.
Maybe someone from NYC will jump in yet.
by spectec
Tue Oct 09, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: New Corp Questions
Replies: 9
Views: 708

Re: New Corp Questions

I wondered about it too.
Maybe "Corporation to Corporation", similar to B2B being "Business to Business ?
by spectec
Tue Oct 09, 2018 7:25 am
Forum: Personal Finance (Not Investing)
Topic: New Corp Questions
Replies: 9
Views: 708

Re: New Corp Questions

Based on your own comments, seems like #4 is the best place for you to start. It isn't going to be cheap, but if your projections are correct you may find professional guidance to be a wise investment.
by spectec
Mon Oct 08, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: New Car: No Collision/Comprehensive?
Replies: 52
Views: 4375

Re: New Car: No Collision/Comprehensive?

Seems like the same reasoning could be used for not insuring one's home if you can afford losing it. In either situation, the premiums are roughly proportional to the risk of loss and value of the asset.
by spectec
Sat Oct 06, 2018 1:59 pm
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12910

Re: What purchase saved you the most money?

Long term. Buying good used cars, taking good care of them mechanically, and driving them for many years & miles. We are both in our 70's and I think we have each owned about 5 or 6 cars over the past 48 years of marriage. Recently, a $50 Costco membership. It enabled me to buy a set of top-quality ...
by spectec
Sat Oct 06, 2018 12:22 pm
Forum: Investing - Theory, News & General
Topic: Age in Bonds - Still Recommended?
Replies: 152
Views: 11889

Re: Age in Bonds - Still Recommended?

I'm OK with age in bonds, but I will let mine drift upward about 5%, so I guess I'm really "age+5 in bonds". Also, I don't draw much of a distinction between bonds and fixed-income accounts in the current environment.
by spectec
Sat Oct 06, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11957

Re: Sold Home - 2 days after buyer claims they found an issue with A/C

Home owner warranties can be problematic, but not useless. You must use their "authorized" service reps, and the companies generally make you jump through lots of hoops before they actually pay anything significant. It's important to get throughly familiar with their procedures BEFORE filing a claim...
by spectec
Sat Oct 06, 2018 11:56 am
Forum: Personal Finance (Not Investing)
Topic: A strategy to pay off home at retirement?
Replies: 57
Views: 4294

Re: A strategy to pay off home at retirement?

We are both in our early 70's and we're with the "keep the mortgage" crowd for now. We could pay off our $135K mortgage, but at the price of reduced liquidity. So the net difference between our mortgage interest and our investment earnings is the price we pay for that convenience. I estimate that pr...
by spectec
Wed Oct 03, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11957

Re: Sold Home - 2 days after buyer claims they found an issue with A/C

In the past couple of years we sold our home and purchased another one. In our listing for the home we sold, we stated that we would pay for a 1-year warranty. I have no idea of the buyers had any problems, but if they did they were covered. And if they paid for a repair without jumping through the ...
by spectec
Mon Oct 01, 2018 10:00 am
Forum: Personal Consumer Issues
Topic: Airline shortened layover
Replies: 17
Views: 1381

Re: Airline shortened layover

I would go to "Flight Aware" (https://flightaware.com/ ) and check the actual arrival times of the inbound flight to Reykjavik. This is only historical data, and we all know on this forum, past performance is no guarantee of future results. However, it may provide you with some level of comfort (or ...
by spectec
Sat Sep 29, 2018 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7935

Re: Someone stole my check from the mail, changed the amount, and deposited it

Yes, you can download a receipt for each transaction, and also a summary of previous transactions for any period of time you choose. The receipts & summaries are very detailed, providing date, time, transaction number, etc. You can schedule transactions ahead of time, and can make multiple estimated...
by spectec
Fri Sep 28, 2018 9:44 am
Forum: Personal Consumer Issues
Topic: When do you need a hearing aid
Replies: 50
Views: 3439

Re: When do you need a hearing aid

A big challenge, it seems to me is that as we age, our need for more sophisticated hearing aids increases - all while our ability to use/program these things goes down. That's exactly why it's important to get good quality HA's as soon as they are needed and learn to care for them properly. Their b...
by spectec
Fri Sep 28, 2018 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7935

Re: Someone stole my check from the mail, changed the amount, and deposited it

I'm not familiar with the new Direct Pay system since it is so new. But based on what little I've read about it, my impression is that it is a little more cumbersome. If I understand it correctly, you're required to validate yourself with each sign-on. With EFTPS once you go through the initial vali...
by spectec
Thu Sep 27, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7935

Re: Someone stole my check from the mail, changed the amount, and deposited it

Sign up for EFTPS to pay your estimated tax payments - you'll be glad you did. It eliminates the middle man because your proof of payment is IRS's own records.
by spectec
Thu Sep 27, 2018 7:34 am
Forum: Personal Consumer Issues
Topic: When do you need a hearing aid
Replies: 50
Views: 3439

Re: When do you need a hearing aid

Great points in the previous posts. No matter how good the device, one must always remember they are getting a hearing aid, not a new ear. A couple of things to mention about crowded spaces. My new HA's from Costco have a directional selection, initiated through the iPhone app. It is normally 360 de...
by spectec
Tue Sep 25, 2018 10:35 pm
Forum: Personal Consumer Issues
Topic: When do you need a hearing aid
Replies: 50
Views: 3439

Re: When do you need a hearing aid

Some of these are extremely high tech. One friend has two (both ears) and a remote that looks like one for a TV. Another friend has ones that (somehow) are electronically connected to her cell phone. She "hears" the cell phone when there is no audible ringing sound. Its truly amazing what's availab...
by spectec
Tue Sep 25, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7935

Re: Someone stole my check from the mail, changed the amount, and deposited it

dm200 wrote:
Tue Sep 25, 2018 3:55 pm
I/we still write a lot of checks to pay bills and have never had a problem. Hope it continues.
Nobody ever has a problem with anything... until they have a problem. :)
by spectec
Tue Sep 25, 2018 7:31 am
Forum: Investing - Theory, News & General
Topic: Don't Fear the Reaper (RMDs) - White Coat Investor blog post
Replies: 65
Views: 7641

Re: Don't Fear the Reaper (RMDs) - White Coat Investor blog post

RMD's are simply a part of the agreement when people put money into tax deferred plans. However, many people don't pay any attention to the whole agreement - they just focus on the tax reduction at the time the money was put into the plan. I think what upsets most people is being told by the governm...
by spectec
Tue Sep 25, 2018 7:16 am
Forum: Personal Consumer Issues
Topic: One ear weak, one good: Get hearing aid? 91-year old
Replies: 8
Views: 687

Re: One ear weak, one good: Get hearing aid? 91-year old

She should probably get a medical evaluation first, but not buy the Hearing Aids from the audiologist affiliated with the doctor's office (assuming HA's will be of benefit). After the medical evaluation, she should go to Costco for a follow-up test and recommendation on HA's. Costco has the best pri...
by spectec
Tue Sep 25, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7935

Re: Someone stole my check from the mail, changed the amount, and deposited it

That is interesting. Was the check mailed to a street address or a PO Box/Lockbox address? If to a street address, then the check could have been removed from the recipient's street-side mail mail box. But if it went into a US Post office drop box and destined to a secure box, this could be a much m...
by spectec
Mon Sep 24, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Best way to get $100k cash
Replies: 86
Views: 7737

Re: Best way to get $100k cash

This sounds like a financial gimmick not in keeping with the Boglehead spirit. I am sorry, but why is saving thousands of dollars in interest not in keeping with the bogleheads spirit As greg24 just pointed out, you'll save $1,800 at most. You're unlikely to find a credit card, or a combination of ...
by spectec
Mon Sep 24, 2018 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Best way to get $100k cash
Replies: 86
Views: 7737

Re: Best way to get $100k cash

If you pay off a $100K mortgage with money borrowed from another lender, you still technically have a mortgage - it's just debt under a different name. Your net worth hasn't changed one bit after the transaction is complete.
by spectec
Sat Sep 22, 2018 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 55
Views: 3992

Re: Reverse Mortgages - Pros, Cons

Personally, I have always thought of a reverse mortgage as the final desperate step, to be implemented only after everything else in a financial plan has irretrievably failed. I think this is the common view, which may be one reason they aren't as popular in the U.S. as they probably should be. The...
by spectec
Sat Sep 22, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 33
Views: 3757

Re: General 2018 Tax Question

I think HELOC/2nd Mortgage interest is going to become low-hanging fruit for auditors in the future (when returns for 2018 & forward begin to age into the audit process).
by spectec
Sat Sep 22, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 33
Views: 3757

Re: General 2018 Tax Question

The tax rates themselves will be lower, so that must be changed in home-grown spreadsheet tax programs (unless the user just stops at taxable income and the tax is manually entered). For those who can still itemize, the deduction for interest paid on a HELOC/2nd mortgage is out the window unless th...
by spectec
Sat Sep 22, 2018 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 55
Views: 3992

Re: Reverse Mortgages - Pros, Cons

If the FA is really reliable and knowledgeable, perhaps he is floating the idea of a reverse mortgage as a roundabout way to get you to rethink your expectations in retirement. Perhaps he expects you to reject the idea of lowering your expectations if he just comes right out and says it, so he is pr...
by spectec
Thu Sep 20, 2018 9:06 pm
Forum: Personal Consumer Issues
Topic: Where do you buy CPAP replacement parts?
Replies: 50
Views: 3547

Re: Where do you buy CPAP replacement parts?

I'm on regular Medicare with a Plan G supplement. I pay a deductible (about $200 I think) at the beginning of the year, then nothing the rest of the year. My DME supplier calls me every 3 months to ask what supplies I need - hose, headgear, humidifier chamber, filters, etc. Some supplies are on a 3-...
by spectec
Thu Sep 20, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: General 2018 Tax Question
Replies: 33
Views: 3757

Re: General 2018 Tax Question

The tax rates themselves will be lower, so that must be changed in home-grown spreadsheet tax programs (unless the user just stops at taxable income and the tax is manually entered). For those who can still itemize, the deduction for interest paid on a HELOC/2nd mortgage is out the window unless the...
by spectec
Wed Sep 19, 2018 10:47 pm
Forum: Personal Consumer Issues
Topic: Do Postal Regulations Allow Me to Learn the Identity of the Holder of a POB?
Replies: 6
Views: 1087

Re: Do Postal Regulations Allow Me to Learn the Identity of the Holder of a POB?

You might try various search engines as well. Sometimes one yields results that another doesn't.
by spectec
Wed Sep 19, 2018 10:40 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 183
Views: 24272

Re: Vanguard - You'll need to sign up for security codes soon

^^^ Check the paperwork, as I'm very sure you'll find a signed form that says "I assign authority to (husband) to act on my behalf". That's a limited POA for the closing. (I'm not a lawyer, but this is done all the time.) Or, perhaps a copy of the Durable POA was used for the closing. You should ha...
by spectec
Wed Sep 19, 2018 10:09 pm
Forum: Personal Consumer Issues
Topic: Where do you buy CPAP replacement parts?
Replies: 50
Views: 3547

Re: Where do you buy CPAP replacement parts?

When I got my first CPAP machine 18 years ago, I got both a mask and nasal pillows. (Insurance paid for only one, so I had them buy the more expensive mask and I paid for the nasal pillows out of pocket). That enabled me to make choices and maintain some control. Sometimes one would begin bothering ...
by spectec
Tue Sep 18, 2018 9:32 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 183
Views: 24272

Re: Vanguard - You'll need to sign up for security codes soon

I just received an email from Vanguard Flagship Services addressed to my wife with the message "You'll soon be required to sign up for security codes". My wife won't touch a computer or a smartphone. I use my email address for both of our accounts. Will I get in trouble with Vanguard for using my p...
by spectec
Tue Sep 18, 2018 8:59 pm
Forum: Personal Consumer Issues
Topic: Spectrum Cable TV Charges
Replies: 19
Views: 1782

Re: Spectrum Cable TV Charges

I couldn’t get lower cable TV price a year ago and finally carried out my threat to leave. Now I get amazing price offers to come back, but I wouldn’t think of it. Sling and Netflix are perfectly adequate and the price seems reasonable and does not inch up over time. I'm with you. We cut the cord a...
by spectec
Tue Sep 18, 2018 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: I see now why Rollovers can take FOREVER ....
Replies: 74
Views: 7942

Re: I see now why Rollovers can take FOREVER ....

The transaction times are notoriously long when two institutions are involved. My credit union can't have commercial accounts, so I have to keep my SEP at the BIG BANK and then periodically initiate a transfer to sweep all bur a residual amount to the credit union. It's all manually done. I go into...
by spectec
Tue Sep 18, 2018 6:58 am
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3565

Re: Equity in house / Do you use it?

Keep in mind that under the new tax law the interest on a HELOC is no longer tax deductible, except for any proceeds used to improve the residence.
by spectec
Tue Sep 18, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2800

Re: Bank of America credit card “feature” (be careful with autopay)

Personally, I use auto pay very sparingly, and only for recurring exact amounts ( such as home mortgage, insurance premiums, etc). No auto pay for credit cards, utilities, etc for me - just too many ways for the process to get tripped up. Such as when I got an erroneous $2,000 water bill a couple o...