Search found 1068 matches

by JGoneRiding
Thu Jul 19, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 144
Views: 12621

Re: Early retirement

We seem to have this disagreement about what "retired" means pretty regularly. It is generally a subjective thing to many people. I don't personally care what people want to call themselves. But, for the purposes of conversations, it does help to have common meaning for words. Perhaps we could bene...
by JGoneRiding
Tue Jul 17, 2018 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Buy a vacation home while renting
Replies: 61
Views: 3390

Re: Buy a vacation home while renting

I not understanding why you are even considering this.? Are you just thinking you need to build equity or something? 350 k buys a lot of weekends away where you don't have to worry about upkeep or wear and tear of others.

I have several rentals but rent my vacations
by JGoneRiding
Mon Jul 16, 2018 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7762

Re: Who are heirs? No will.

I thought of another wrinkle. Are there grand neices/nephews of brother 2 that do NOT have a living parent that is a neice/nephew? Essentially every child of brother 1 and 2 is due a share. And every grandchild of the brothers that doesn't have a living parent is due a share which depends on how man...
by JGoneRiding
Mon Jul 16, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7762

Re: Who are heirs? No will.

Ianal (do you understand this appriviation) I did however quote from your link what appears to be the correct section of code. It appears the estate would be essentially split in two. All the children of brother 1 would evenly split that share. All the grand children of brother 2 would split that sh...
by JGoneRiding
Mon Jul 16, 2018 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1284

Re: Social Security Questions for my Parents

I understand your frustration my parents are much the same except a good notch lower in income/value of house/expenses . There is nothing to do but nod and smile. Eventually they will realize they can t afford the house and will either sell or reverse mortgage it. But some how in the next 2 years th...
by JGoneRiding
Mon Jul 16, 2018 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7762

Re: Who are heirs? No will.

(4) If there is no surviving parent or brother or sister of the intestate, then to the issue of brothers and sisters. If the distributees described in this subdivision are all in the same degree of kinship to the intestate, they shall take equally or, if of unequal degree, then those of more remote ...
by JGoneRiding
Mon Jul 16, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Who are heirs? No will.
Replies: 56
Views: 7762

Re: Who are heirs? No will.

Why have you not consulted a lawyer in Indiana and or the probate court by now? I think only they can fully answer this question. Ianal . I think the section you are looking at deals with cousins. Some states never get to cousins. But most likely the other says the same. You add up the total number ...
by JGoneRiding
Mon Jul 16, 2018 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: College funds spendown...
Replies: 6
Views: 679

Re: College funds spendown...

In 1.5 years you will most likely have a better idea if your daughter is going. If she doesn't go to college are you going to pay for other things for her? Like trade training? A wedding?
by JGoneRiding
Mon Jul 16, 2018 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property
Replies: 13
Views: 919

Re: Unclaimed property

Interesting.
None for me.
by JGoneRiding
Mon Jul 16, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited retirement account
Replies: 12
Views: 1502

Re: Inherited retirement account

Thanks to all who have commented thus far. The information is very helpful. I'll re-read the comments several times over the next few days to ensure I understand all the considerations. My father just passed away a week ago so my thinking is a bit muddled. Initially I thought my mother had only 30 ...
by JGoneRiding
Mon Jul 02, 2018 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 16479

Re: IRS publishes draft 2018 1040 - Huge changes made

Does anyone know when they intend to release the draft instructions? I think I am one of the few that fall into the "luddite" category. I am intimately familiar with instructions from the past, and I have had numerous instances across the years where I have to reread many times to ensure compliance...
by JGoneRiding
Mon Jul 02, 2018 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Why visa
Replies: 55
Views: 5445

Re: Why visa

You don't need to use credit cards to get the Visa protection, just run your debit card as credit. That causes the transaction to go through the credit network and you get all the Visa fraud protections (which you do NOT get on debit card transactions). If someone steals your debit number and runs ...
by JGoneRiding
Mon Jul 02, 2018 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Why visa
Replies: 55
Views: 5445

Re: Why visa

As others have said, I'm not at all against using Visa Credit cards. I actually have five of them (there is a reason, but it's a long explanation). I don't use cash unless it is something small, and the only checks we write any more are mostly the ones my wife writes to nieces and nephews for birth...
by JGoneRiding
Sat Jun 30, 2018 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should I have an umbrella policy? Odd situation + other advice.
Replies: 5
Views: 837

Re: Should I have an umbrella policy? Odd situation + other advice.

You have about 600k in easily gone after assets. I would definitely have an umbrella policy. Assume you will make no money just barely enough going fwd to cover a basic lifestyle. I would try to channel as much as I could into protected assets every year. I would treat the 325 k as an income stream ...
by JGoneRiding
Fri Jun 29, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 1.75%]
Replies: 210
Views: 32188

Re: ALLY BANK savings account RATE increase 1.75%

Oh good! I just stuck 50k proceeds from selling house in there. Will appreciate the extra boost
by JGoneRiding
Fri Jun 29, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage deductibility on HELOC
Replies: 9
Views: 521

Re: Mortgage deductibility on HELOC

The new interest rules apply to itemized deductions which is personal property. A property used exclusively for business is an investment property. But isn't OP considering taking out a HELOC on his residence in order to buy an investment property? How does that change things? So I did something si...
by JGoneRiding
Thu Jun 28, 2018 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at 55, what's the magic number
Replies: 169
Views: 22205

Re: Retire at 55, what's the magic number

I alway hear 25-30 times expenses for retirement. What if one has a pension. Then what is the % of investments needed? Don't make it complicated. If expenses are z you subtract the y is the pension from them leaving you with x expenses not covered by pension/as and you need 25x that number. If y pl...
by JGoneRiding
Thu Jun 28, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Why visa
Replies: 55
Views: 5445

Why visa

So I know people sometimes get going on the evils of visa cards. But today is why I a) use them in the first place b) use the same card for all online purchased I had placed on order with a company that as recently as Friday was soliciting orders for later delivery. Monday they shut their doors and ...
by JGoneRiding
Thu Jun 28, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: What is your debt interest rate threshold?
Replies: 57
Views: 3395

Re: What is your debt interest rate threshold?

For me anything over 5 I would pay aggressively, anything under 3 I would definitely not worry about and in the middle it depends on a host of factors. Those are admittidly arbitrary numbers. I agree. Though when my mortgage was 5.875% ideas still investing some. I knew I needed time in the market....
by JGoneRiding
Wed Jun 20, 2018 9:30 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3452

Re: How to calculate "fun money" per year?

I put it into the mos budget and safe for it separately then see if I can cash flow it anyway. Do say put away 100 to 200 a mos then put charges on the CC as they happen and are if at the end of the vacation if i need yo take the money out of its dedicated acct to pay the CC or not. I have found buc...
by JGoneRiding
Tue Jun 19, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 169
Views: 14737

Re: How much (green) cash at home for emergency ?

I asked a similar question after harvey/Maria

It was a good thread if you want to look for it

General consensus was some where between none and 1-2k

No need for 10s of thousands.
by JGoneRiding
Wed Jun 13, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 121
Views: 10553

Re: Why do we work?

I cut back on work when I had a child last year (totally best decision) and then in then last 2 months I have had to increase work again-mostly due to demands from boss. But I also got back some of the money I had given up and think I hit the sweet spot in terms of time and rewards. Life is a balanc...
by JGoneRiding
Thu Jun 07, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Down Payment Help
Replies: 16
Views: 1571

Re: Mortgage Down Payment Help

I th I k it's fine to.buy not married. Being married is no guarantee things will work. The advantage of marriage is there is an established court system for dealing with asset division. You won't have that advantage therefore what you should have is a clear way of titling property and a written out ...
by JGoneRiding
Tue Jun 05, 2018 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: How gameable is the FAFSA for the early retiree?
Replies: 24
Views: 2702

Re: How gameable is the FAFSA for the early retiree?

I have debated something like this . I had my no yet 1 yr son as an "older" mom. I might retire early as he is starting college. I have definitely thought about issues yo get some funding. One problem is they now look at your income 2 years prior. I don't plan to retire that early so may be issue as...
by JGoneRiding
Tue Jun 05, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Helping MIL with Reverse Mortgage/LTC Insurance
Replies: 10
Views: 1050

Re: Helping MIL with Reverse Mortgage/LTC Insurance

My parents have an rm honestly If She has one that allows monthly draws. (Might not might need regular lumps) I would go ahead and max it out to supplement income and just assume the house is done for and that the fees and interest will eat up the rest of the equity so you might as well.get as much ...
by JGoneRiding
Tue Jun 05, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Submitting an offer on a home
Replies: 24
Views: 2687

Re: Submitting an offer on a home

Be prepared to move fast. We listed and had excellent offers within 24 hours our house was realistically only on the market longer than that out of my own sense of fairness and getting best and final offers. Be flexible we barely showed it in the eve at all. The realtors harnessing me for alternativ...
by JGoneRiding
Mon Jun 04, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Roommate in a house?
Replies: 32
Views: 2980

Re: Roommate in a house?

So i read pub 527 (and i have read it before) i would argue heavily that it fails to address the OP real question. The closest it gets is the examples where family is staying for either free or below market rent then that is personal use. And in fact can NOT be counted as rental income. Since the OP...
by JGoneRiding
Mon Jun 04, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Roommate in a house?
Replies: 32
Views: 2980

Re: Roommate in a house?

She still gets all deductions - the interest deduction, and the property tax deduction. You get no deductions. She *should* claim any cash you pay her as rent on her tax forms for the year. We went through this ourselves - when we first had a house, DH and I rented out a room to his cousin. Since w...
by JGoneRiding
Thu May 31, 2018 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Roommate in a house?
Replies: 32
Views: 2980

Re: Roommate in a house?

Yes. Pay the bills directly.the irs doesn't really care about two single people living together and splitting bills. Amd umless you tell them they wont know. They have more important things. They do care about people with multiple roommates doing boarding houses. Technically she could claim rent and...
by JGoneRiding
Thu May 24, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 2679

Re: Need help with debt strategy

So I will be checking out Dave Ramsey so that I can tighten up my budget and attack CCs first then attack the loans. I get differing opinions on whether or not I should continue contributing to my ROTH. Also, should I move my ROTH to Vanguard or schwab into a target 2055 fund? I really appreciate a...
by JGoneRiding
Sun May 20, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes
Replies: 27
Views: 3564

Re: Life Changes

We have talked about doing something like this. Just caution this will either be the best thing ever for the family or very destructive. Wife needs to be 100% on board and excited about it. She is going to be stuck in a small cabin with 2 toddlers for a while and a drive to take them anywhere. Think...
by JGoneRiding
Sun May 20, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!
Replies: 22
Views: 2006

Re: New perspective on cash-flowing ever increasing College tuition costs, without 529 plan that is!

Biggest issue is the FAFSA does not actually care what your tax situation is. If your kid isn't married or in the military your income counts till 26
by JGoneRiding
Sat Apr 28, 2018 11:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 424
Views: 41161

Re: Paid Off Mortgage Today

Logged in just to say congrats! That is such an awesome achievement way to go!

:sharebeer. :mrgreen:
by JGoneRiding
Mon Apr 23, 2018 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: estate planning with animals
Replies: 28
Views: 2449

Re: estate planning with animals

If your state allows it, you might consider a pet trust. We have one in Illinois. You can set up a trust to fund your animals' care with the residual going wherever you want. That way you know the money will not be spent on anything else. You still need some trusted person to administer the trust. ...
by JGoneRiding
Sun Apr 22, 2018 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 158
Views: 17611

Re: Can I retire at age 40?

You can. You just need to spend a lot less.
With no mortgage 120k is a ton of money yo need to spend every year
by JGoneRiding
Tue Feb 20, 2018 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: condo rental and emotional support animals issues
Replies: 24
Views: 3375

Re: condo rental and emotional support animals issues

Be prepared for people to say the animal is an ESA when it's simply a pet they didn't want to pay extra for. And be prepared for animals other than cats and dogs - apparently things like snakes, turkeys, chickens and hamsters provide emotional support. Also, I'm not sure that ESAs fall under the AD...
by JGoneRiding
Tue Feb 20, 2018 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: condo rental and emotional support animals issues
Replies: 24
Views: 3375

Re: condo rental and emotional support animals issues

This thread made me wonder what Airbnb's policy is. Seems that with Airbnb... 1. Hosts MUST accept assistance animals, including ESAs. 2. Guests are NOT required to disclose the presence of assistance animals prior to booking. 3. Hosts are NOT allowed to charge additional fees for assistance animal...
by JGoneRiding
Tue Feb 20, 2018 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: condo rental and emotional support animals issues
Replies: 24
Views: 3375

Re: condo rental and emotional support animals issues

I believe for an esa the law only requires "reasonable " accommodation. You can still charge a pet damage deposit and flea control fee. I saw a very extensive form from a local suppsidised housing authority and it most assuredly did NOT give eta dogs cart Blanche. It was about 6 pages long of requir...
by JGoneRiding
Tue Feb 20, 2018 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Married Filing Separately - Roth IRA oops
Replies: 13
Views: 927

Re: Married Filing Separately - Roth IRA oops

Given the tax implications there is no way i would file separately for 20 years. So you might as well bite the bullet and lower the it rate and either set it for a 10 year plan or try to get it done asap
by JGoneRiding
Mon Feb 19, 2018 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Looking for some help and fast (buying vs renting, net worth)
Replies: 52
Views: 3895

Re: Looking for some help and fast (buying vs renting, net worth)

What is a doing with the extra and what is the real or presumed roi.? Without that who knows it's all a guessing game. If a decides to rent for ever at that rate adjusted for inflation and invests the difference in the stock market at some "real rate of return" most likely on the numbers a will win....
by JGoneRiding
Sat Feb 17, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Timber
Replies: 37
Views: 3041

Re: Selling Timber

I am absolutely fascinated by this thread (and I suppose I shouldn't be surprised that there are experts on this forum who know the answers). I would love to get some insight from others who have done this before. It has always been a fantasy of mine to buy a large remote plot of land, with a small...
by JGoneRiding
Sat Feb 17, 2018 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: help me figure out best way to deduct
Replies: 1
Views: 297

help me figure out best way to deduct

So I am having a hard time with new vs old tax law deciding when it is personally best to take deductions. Normally our combined income is about 145k but last year with the birth of our first I took unpaid maternity and also no on call combined that was about a 35k pay cut for me. We also have 4 ren...
by JGoneRiding
Fri Feb 16, 2018 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

Ok so it was mostly a primary home that was converted to a rental.

At the time of conversion was the property worth less than purchase and did you document that?
by JGoneRiding
Fri Feb 16, 2018 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Hopefully SImple Question on Real Estate Taxation
Replies: 12
Views: 587

Re: Hopefully SImple Question on Real Estate Taxation

So for 18 years the property just sat empty?
by JGoneRiding
Fri Feb 16, 2018 12:35 am
Forum: Personal Finance (Not Investing)
Topic: Tax filing status for international family
Replies: 3
Views: 390

Re: Tax filing status for international family

Not an agent but I would at refilling as hoh for other years would be a red flag. If you meet the qualifications listed in the irs pub you should be able to claim children. I have no idea if they would ever be able to tell that you are both claiming the kids In different countries but i am fairly ce...
by JGoneRiding
Fri Feb 16, 2018 12:18 am
Forum: Personal Finance (Not Investing)
Topic: My Over $300K Vanguard Balance Disappeared?
Replies: 62
Views: 10795

Re: My Over $300K Vanguard Balance Disappeared?

You all have made me very glad I use Schwab. 24/7 service! I can (and have) call them at .midnight pst and get a chipper person to solve my problem (usually an account lock out)
by JGoneRiding
Fri Feb 16, 2018 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Rant about relocation mortgage assistance, and a question
Replies: 54
Views: 3443

Re: Rant about relocation mortgage assistance, and a question

I agree with "hand" get a margin loan. Perfect situation for one and the rates are suppose to be very reasonable. I actually find the 3 paycheck thing odd. I have only ever needed 1 months worth (for what it is worth I have done 3 loans on the last 3.5yrs) and even when My husband was relocating and...
by JGoneRiding
Thu Feb 15, 2018 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Interest-only mortgage/HELOC as a refi? (retired and low income)
Replies: 12
Views: 887

Re: Interest-only mortgage/HELOC as a refi? (retired and low income)

I am trying to figure out what the rest of you think would be more affordable. Most likely he is paying less than 500/mos for housing plus insurance and taxes in probably mcol area (200k home). I live in mcol area I can tell you what you can rent for 600/mos is very very limited. I don't see how he ...
by JGoneRiding
Thu Feb 15, 2018 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: When will I get my 1099-S (sale of personal residence)
Replies: 1
Views: 264

Re: When will I get my 1099-S (sale of personal residence)

It is unlikely you will since it is a personal residence but the answer is most likely e) it depends on your local
by JGoneRiding
Thu Feb 15, 2018 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Friend with extremely high interest credit card debt
Replies: 20
Views: 1791

Re: Friend with extremely high interest credit card debt

At that debt to income level she is going to struggle to find good cards with enough credit to do the transfer to lower cards thing. My husband had similar income but half the debt and a house with equity and I could still only get a card for 3500 with no fee balance transfer (chase has the best off...