Search found 2181 matches

by 8foot7
Fri Sep 18, 2020 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Should I help my mother pay off debt?
Replies: 31
Views: 1801

Re: Should I help my mother pay off debt?

If it was your inheritance I'd write a check today for the amount of debt she incurred on your behalf and simply explain to your wife you felt like it was something you needed to do. If the inheritance was from your wife's side, I'd work it out with her if you feel strongly about contributing. Your ...
by 8foot7
Thu Sep 17, 2020 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Do my circumstances warrant asking for a >50% increase in salary?
Replies: 18
Views: 1505

Re: Do my circumstances warrant asking for a >50% increase in salary?

I think you have some standing to refresh your equity, but otherwise I think you are going to need to connect the dots between >50% increase in your productivity/impact on the company and your request for >50% salary increase.
by 8foot7
Thu Sep 17, 2020 10:44 am
Forum: Personal Consumer Issues
Topic: Is this guy trying to scam me on a car I'm selling?
Replies: 171
Views: 12386

Re: Is this guy trying to scam me on a car I'm selling?

For this kind of money you're talking here, it is easy enough for a would-be buyer to open an account at a national bank with a branch nearby you, deposit the money for purchase, and withdraw it on site with you. I suggested this approach years ago when someone moving from Las Vegas to my town on th...
by 8foot7
Thu Sep 17, 2020 10:28 am
Forum: Personal Finance (Not Investing)
Topic: ethics concern with trust
Replies: 68
Views: 4069

Re: ethics concern with trust

It would be helpful to understand the amount of money that is truly at stake here.
If it is 25k, or worse, a share of 25k, then I can only recommend you find a way to move on.
If it is more, I would suggest looking at ways of pinging the professional insurance of the attorneys that made the error.
by 8foot7
Thu Sep 17, 2020 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer
Replies: 27
Views: 2025

Re: Job Offer

This sucks. I’m so torn. I think you're right to look elsewhere but if you asked for a one-time match to 34k because you're leaving money on the table by joining them and they argued with you over 4k even though your total package is less, is that a good sign? Sorry you're going through this but th...
by 8foot7
Thu Sep 17, 2020 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer
Replies: 27
Views: 2025

Re: Job Offer

This sounds unfortunately like a pay cut both on an ongoing basis and on a one-time basis (since they won't match your options). I think I would search for other opportunities.
by 8foot7
Sat Sep 12, 2020 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: is it time to pay off my 2.375% mortgage?
Replies: 39
Views: 3516

Re: is it time to pay off my 2.375% mortgage?

What was the logic that resulted in the choice of a the CD ladder, the option guaranteed from the start to deliver less than your mortgage interest rate, when you could have paid the mortgage down for a guaranteed return of that rate or invested it for at least a chance at a higher return? Exploring...
by 8foot7
Sat Sep 12, 2020 8:36 am
Forum: Investing - Theory, News & General
Topic: HELOC for Investing During Major Market Downturns. Bad Idea?
Replies: 30
Views: 1939

Re: HELOC for Investing During Major Market Downturns. Bad Idea?

In not paying off a mortgage you are betting you can do better than the mortgage rate over the term of the mortgage. In your heloc plan you are betting you know when the bottom is, so that you know when to borrow the money to invest. Market timing is picking a bottom, not assuming that over a period...
by 8foot7
Sat Sep 12, 2020 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Would you fire your financial advisor for this error?
Replies: 45
Views: 4647

Re: Would you fire your financial advisor for this error?

Of course he shouldn’t be fired. He fixed his mistake and there was no loss. I suspect your mother didn’t ask specifically about tax lots which means he was aware enough to think about it and then double check. ThTs precisely the kind of thing people not like our members need to pay 50 basis points ...
by 8foot7
Fri Sep 11, 2020 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11443

Re: Should we buy a $3M+ house with parental help?

fyre4ce wrote: Fri Sep 11, 2020 12:14 pm With children and work-from-home,
If WFH is a factor for buying a $3MM home then it needs to also be a factor for leaving the Bay Area entirely.
by 8foot7
Thu Sep 10, 2020 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11443

Re: Should we buy a $3M+ house with parental help?

Consider the impact of having received a $1 million gift from your parents, or perhaps worse, your in-laws. How will that affect relations in the future? What if they have “advice” for you? I also tire of the constant narrative that real estate rules don’t apply to Bay Area where a house that would...
by 8foot7
Thu Sep 10, 2020 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy a $3M+ house with parental help?
Replies: 167
Views: 11443

Re: Should we buy a $3M+ house with parental help?

Consider the impact of having received a $1 million gift from your parents, or perhaps worse, your in-laws. How will that affect relations in the future? What if they have “advice” for you? I also tire of the constant narrative that real estate rules don’t apply to Bay Area where a house that would ...
by 8foot7
Thu Sep 10, 2020 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Homeowner daughter refinance and new spouse home equity rules going forward
Replies: 15
Views: 1308

Re: Homeowner daughter refinance and new spouse home equity rules going forward

Daughter here. I was able to purchase this house on my own due to family members passing away and leaving me inheritance. Since I purchased this house with those funds, they are no longer available to help with a refinance. I bought this house before we were married and failed to file a prenup firs...
by 8foot7
Wed Sep 09, 2020 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner daughter refinance and new spouse home equity rules going forward
Replies: 15
Views: 1308

Re: Homeowner daughter refinance and new spouse home equity rules going forward

Also, if I may, that’s a 270k mortgage on a 35k income? How is that working out?
by 8foot7
Wed Sep 09, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner daughter refinance and new spouse home equity rules going forward
Replies: 15
Views: 1308

Re: Homeowner daughter refinance and new spouse home equity rules going forward

The mortgage company will almost certainly insist on his being on the title. Otherwise he would be an unsecured borrower. It’s also the right thing to do if he is paying part of the loan and his income is being used to qualify. If your daughter doesn’t want his name on the title, then she shouldn’t ...
by 8foot7
Tue Sep 08, 2020 11:51 am
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 66
Views: 8555

Re: House sale quandary - got offer from neighbor before agent listed house

Under no circumstances should you pay the realtor anything if you sell to your neighbor. But you got nothin' till you got a (written) offer from your neighbor and I'd be inclined to list it to play the market unless you are not in a hot area. And as for your neighbor, I'd attempt to split the differ...
by 8foot7
Mon Sep 07, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Note from Chase on Credit Report -- but these are frozen?
Replies: 10
Views: 885

Re: Note from Chase on Credit Report -- but these are frozen?

A freeze does not prevent activity from being reported on your credit report, either from new or existing parties. It only protects against parties accessing your credit files as a new inquiry, such as if you were attempting to borrow money.
by 8foot7
Fri Sep 04, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage balance at 4.375 interest...next steps?
Replies: 7
Views: 802

Re: Mortgage balance at 4.375 interest...next steps?

$2,400 is your current interest cost - it's not going to go to zero in a refinance, so you are only going to save a small fraction of that amount by lowering your rate. You'll probably end up saving about $800-1,000 a year going to a 3% mortgage if you can get it. No telling what closing costs there...
by 8foot7
Thu Sep 03, 2020 4:39 pm
Forum: Personal Investments
Topic: Family member has one million in one stock , doesn't want to cash out
Replies: 261
Views: 27504

Re: My dad has 1 million in Tesla, I told him to cash out, he doesn't want too

In case anybody is wondering ... Dad held and plans to sell if it hits 400. He's lost 185k over a 3 day span. But is still up like 215k on the stock. We shall see what happens.... He really didn’t loose 185k because he didn’t sell. And he really didn’t gain. I lost 31k of yesterday VGT value but I ...
by 8foot7
Wed Sep 02, 2020 7:00 pm
Forum: Personal Investments
Topic: Any long-term issues with starting my teen out with Fidelity?
Replies: 31
Views: 1203

Re: Any long-term issues with starting my teen out with Fidelity?

I can understand not switching from Vanguard to Fidelity if one is already well-entrenched, but given Vanguard's well-documented customer service challenges and limited services at this point, I can't imagine starting from zero that Fidelity or Schwab does not provide a better overall value. The thi...
by 8foot7
Sat Aug 29, 2020 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Can a landlord charge for stain removal on 14 year-old carpet?
Replies: 36
Views: 3375

Re: Can a landlord charge for stain removal on 14 year-old carpet?

If this were more money at stake, I would say start fighting but for $85 I am just not sure it is worth the effort. Charging for stains in already stained 14 year old carpet that were not from negligence (for example, not from running a wood-staining shop in the living room and having Minwax spilled...
by 8foot7
Fri Aug 28, 2020 11:48 am
Forum: Personal Consumer Issues
Topic: Does Canada's RBC operate in the US?
Replies: 4
Views: 304

Re: Does Canada's RBC operate in the US?

Yes, RBC bought Centura Bank and operated as RBC Bank in the US for a while, but sold all US assets to PNC. There is no longer any US presence for RBC.
by 8foot7
Sun Aug 23, 2020 12:16 pm
Forum: Personal Consumer Issues
Topic: move from Microsoft Office to Libre Office - any advantages or disadvantages for those that have done so?
Replies: 45
Views: 3218

Re: move from Microsoft Office to Libre Office - any advantages or disadvantages for those that have done so?

I very much dislike paying monthly for things I used to be able to buy once and get years of value out of, but the 5 terabytes of cloud storage and document sync is very, very useful. The $80/year deal is fairly frequent and I certainly get more value than the under-$7/mo said subscription costs. If...
by 8foot7
Wed Aug 19, 2020 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: What if my renter DOESN’T call me at 3am about the toilet?
Replies: 37
Views: 5402

Re: What if my renter DOESN’T call me at 3am about the toilet?

You should walk the property inside and out at lease renewal (at least once a year), not because you distrust your tenant, but because you may spot things in need of maintenance that never occur to your renter. I would set up a time with your renter sometime in the next month to six weeks just to ma...
by 8foot7
Wed Aug 19, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Lease Renewal - Landlord Refuses Buy-out Clause Terms
Replies: 23
Views: 2345

Re: Lease Renewal - Landlord Refuses Buy-out Clause Terms

Sounds like you don't have any recourse and need to find a temporary spot that will let you go M2M. Or potentially eat the cost of the new lease even if you aren't living there.
by 8foot7
Wed Aug 19, 2020 11:51 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate risk of prospective tenants?
Replies: 38
Views: 2317

Re: How to evaluate risk of prospective tenants?

The landlord usually says they just want to see that we have at least $15-20k in savings as a backup. If as a landlord you are demanding this much liquidity of your prospective tenants, you are eliminating essentially 99.9% of your potential clientele. Recall most Americans can't cover a $600 emerg...
by 8foot7
Wed Aug 19, 2020 8:06 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate risk of prospective tenants?
Replies: 38
Views: 2317

Re: How to evaluate risk of prospective tenants?

I don’t see how evaluating net worth tells you anything about a tenant that you need to know. The questions you need to ask are 1. Has this tenant paid his or her bills on time historically 2. Does this person make enough on average to pay my rent and have enough left for reasonable living (3x rent ...
by 8foot7
Tue Aug 18, 2020 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Discount vs. full-price realtor
Replies: 126
Views: 5667

Re: Discount vs. full-price realtor

Your wife is almost entirely in the wrong. Only reason #6 has a kernel of truth to it and it is not a persuasive argument; the rest of the reasons are either misguided or entirely wrong. May I also add that using an acquaintance as a realtor (a mistake I personally have made) is less than optimal be...
by 8foot7
Sun Aug 16, 2020 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursed Mileage IRS / Issue
Replies: 21
Views: 747

Re: Reimbursed Mileage IRS / Issue

I think the argument is you took the job in the original location and the place that requires you to be there in person to drop off documents is across the street from that place, so it is no different than your commute was before — and now COvid is letting you save on that commute x number of times...
by 8foot7
Sun Aug 16, 2020 1:15 pm
Forum: Personal Investments
Topic: Terrible experience with Ally bank- buyer beware
Replies: 144
Views: 9164

Re: Terrible experience with Ally bank- buyer beware

The closing costs needed to be wired from my bank, which was Ally. The closing was set at 10 am. The wire request that was sent the previous day was not received. We kept calling and they said we have a huge backlog in the wire department and that they would 'expedite it'. Throughout the day, we we...
by 8foot7
Sat Aug 15, 2020 10:42 am
Forum: Personal Investments
Topic: Terrible experience with Ally bank- buyer beware
Replies: 144
Views: 9164

Re: Terrible experience with Ally bank- buyer beware

This really makes me appreciate USAA. Yeah, no kidding. Did two six figure wires this year, both received at other institution within a couple hours. Took ten minutes on the phone with USAA. It’s not a question of whether it goes through quickly or not, but for something so time-sensitive you shoul...
by 8foot7
Sat Aug 15, 2020 10:38 am
Forum: Personal Investments
Topic: Terrible experience with Ally bank- buyer beware
Replies: 144
Views: 9164

Re: Terrible experience with Ally bank- buyer beware

It actually seems fairly well-known from several posts on this forum that wiring from Ally is, to put it charitably, a sub-par experience. Best not to rely on it and make alternate arrangements.
by 8foot7
Thu Aug 13, 2020 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: My kid scratched my neighbor's new car
Replies: 115
Views: 7254

Re: My kid scratched my neighbor's new car

You should just pay it. If I were your neighbor, and you started in however politely on a “i need two different written estimates” path or a “I need you to waste your own time getting a second opinion from an independent shop” on damage your ilk caused on my one-day-old new car, I’d just smile, say,...
by 8foot7
Wed Aug 12, 2020 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tree section fell on my neighbor's property...who is liable
Replies: 56
Views: 5852

Re: Tree section fell on my neighbor's property...who is liable

If I get along with my neighbor I’m helping to clean up regardless of if it’s my problem. It’s the right thing to do. If I don’t like my neighbor I am not doing anything I don’t have to do.
by 8foot7
Wed Aug 12, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Rec'd Unsolicited Offer for Land
Replies: 27
Views: 2161

Re: Rec'd Unsolicited Offer for Land

I'm not sure why allowing the study period, as long as continued access as before for the farmers on your land is maintained, is a bad idea.
by 8foot7
Mon Aug 10, 2020 6:01 pm
Forum: Personal Investments
Topic: Fidelity just got me all steamed up!
Replies: 9
Views: 1542

Re: Fidelity just got me all steamed up!

With respect, how would you propose the rep help you without your identifying which account among Fidelity’s millions had the purported issue?
by 8foot7
Mon Aug 10, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Pursue a Job Offer I am not ready for? Apply more pressure for my Raise? Wait?
Replies: 56
Views: 4551

Re: Pursue a Job Offer I am not ready for? Apply more pressure for my Raise? Wait?

Congratulations on an 11% raise in an environment of pay cuts. But I understand this is disappointing, that you had to fight for a little more than half of what you were promised, and if you still have that 35% raise opportunity elsewhere, at this time I would probably take it. At the end of the day...
by 8foot7
Mon Aug 10, 2020 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Starting divorce process - how to succeed financially?
Replies: 79
Views: 10262

Re: Starting divorce process - how to succeed financially?

We don't know the details but I'm not quite going with "skilled" yet - we don't know about the sustainability of his current financial situation. Earning 350-650k a year over time doing anything isn't easy so I think we have to believe he has a proven ability to generate an income. If he had nothin...
by 8foot7
Sun Aug 09, 2020 12:18 pm
Forum: Personal Consumer Issues
Topic: Remodeling GC changed drawings w/o our knowledge to his benefit!
Replies: 10
Views: 949

Re: Remodeling GC changed drawings w/o our knowledge to his benefit!

I’d pay the $390 to figure out if I could do anything about being screwed. Take it from there.
by 8foot7
Sat Aug 08, 2020 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Starting divorce process - how to succeed financially?
Replies: 79
Views: 10262

Re: Starting divorce process - how to succeed financially?

humbledinvestor wrote: Sat Aug 08, 2020 3:00 pm With these large amount of assets, lawyers will be salivating and circling like vultures.
+1. Both attorneys see potential six-figure accounts here with $3MM+ at stake. The more it drags on, the more they all make, and the smaller the pie gets.
by 8foot7
Sat Aug 08, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Starting divorce process - how to succeed financially?
Replies: 79
Views: 10262

Re: Starting divorce process - how to succeed financially?

I would just echo the not counting your chickens before they hatch. Emerging from an 8 year childless marriage you entered into at 21 with $1.75 million and expecting $60,000/year in alimony for 4 years is...well, not impossible, but seems like a very rosy financial outcome. Your lawyer may be telli...
by 8foot7
Wed Aug 05, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Building a new home (non-custom) Any advice from your experience?
Replies: 18
Views: 1190

Re: Building a new home (non-custom) Any advice from your experience?

Would a builder really NOT paint the ceilings? Here many builders spray the ceilings and the walls the same beigey color, which is OK for a bit but as soon as you want to change a wall color you have to paint the ceiling a different color to avoid a nasty clash. If you want the ceiling white and no...
by 8foot7
Wed Aug 05, 2020 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a rental and hiring a property management company
Replies: 29
Views: 2577

Re: Thoughts on buying a rental and hiring a property management company

Whatever you ultimately choose to do, build your model and make your buy decisions based on having the overhead of a management company. Don't buy a marginal property assuming you'll manage it yourself and then let it turn unprofitable if you have it managed. Just bake it in from the beginning, alon...
by 8foot7
Mon Aug 03, 2020 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: IRS amended my return - how do I get a copy?
Replies: 29
Views: 2352

Re: IRS amended my return - how do I get a copy?

I would cash the check and spend not one more moment worrying about it. You did your part and they decided you were wrong. Who are you to argue?
by 8foot7
Sat Aug 01, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is a refinance likely to be worth it for us? Sub 200k loan, 10 years remaining, already at 3.125%
Replies: 7
Views: 787

Re: Is a refinance likely to be worth it for us? Sub 200k loan, 10 years remaining, already at 3.125%

Look at an ARM — but pay the same payment you are paying now. You can probably get well under 3% and since you only have ten years left the risk of a rate shock in year 5 or 7 is noise
by 8foot7
Sat Aug 01, 2020 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Buy this house, or stay put?
Replies: 11
Views: 1151

Re: Buy this house, or stay put?

I see the issue here. Your wife is nesting. The new house is a fine idea. But right now is a terrible idea. Moving, selling, fixing, adapting — these are things you and your wife will not have the time and energy for with two newborns on the way. Not to put too fine a point in it, but your wife has ...
by 8foot7
Fri Jul 31, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances during COVID
Replies: 26
Views: 3101

Re: Wedding Finances during COVID

I would pay no more than 25%-33% down as a deposit for an indoor wedding in Florida in eight months. I would agree pay the remainder 10-14 days in advance of the event. The venue incurs little actual costs until then (ordering food, booking staff, etc.). I would provide proof of funds if asked. Payi...
by 8foot7
Fri Jul 31, 2020 9:03 am
Forum: Personal Investments
Topic: Is 25 too young for paid off house?!
Replies: 72
Views: 5218

Re: Is 25 too young for paid off house?!

There are about 7 gazillion 25 year olds who would trade places with you. Nice work.
by 8foot7
Wed Jul 29, 2020 2:28 pm
Forum: Personal Investments
Topic: High net worth, volatility phobic investor seeking help
Replies: 84
Views: 5826

Re: High net worth, volatility phobic investor seeking help

If this is even a real thing, there's always some bank out there offering a 1% savings account or CD. If she is truly looking for risk free, then throwing 9.5MM into a series 1% CD will take care of it. I might not put 9.5MM into a small town bank CD but Ally, American Express Bank, something like t...
by 8foot7
Tue Jul 28, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbor's Land
Replies: 139
Views: 4557

Re: Land Border Issues & Aggressive Neighbor - Help Wanted Please

KyleAAA wrote: Tue Jul 28, 2020 10:37 am ... whether or not OP has a claim under adverse possession laws is irrelevant...
Of course it's relevant; it's in fact the entire crux of the matter. I'm done engaging here; not interested in arguing.