Search found 746 matches

by 8foot7
Fri Oct 19, 2018 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 95
Views: 3952

Re: Depositing Cash if it was gifted?

I sold a car for $12,000 and the seller literally brought cash. To avoid the possibility of it being counterfeit, I asked for him to bring the money to my credit union, and we deposited it there. I was asked a great deal of information, including for my driver license, where the cash was coming from...
by 8foot7
Fri Oct 19, 2018 6:05 am
Forum: Personal Finance (Not Investing)
Topic: Kids inherited $8,000 each - 529 or regular brokerage?
Replies: 34
Views: 2149

Re: Kids inherited $8,000 each - 529 or regular brokerage?

I realize I may be in a minority here, but I do think there is an ethical issue with a parent deciding that this money that doesn't belong to the parent will be used for college, and I do think a 12 year old is old enough to have a discussion about where that money might go -- a first car, a summer ...
by 8foot7
Thu Oct 18, 2018 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 49
Views: 3428

Re: Approach to rescinding a job acceptance

I suspect if the place you're declining is a place that would consider this a bridge-burner, then it is a bridge-burner whether you call, e-mail, or do it face to face. All you can do is make the best decision for you with the information you have. Good luck. :sharebeer
by 8foot7
Thu Oct 18, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Kids inherited $8,000 each - 529 or regular brokerage?
Replies: 34
Views: 2149

Re: Kids inherited $8,000 each - 529 or regular brokerage?

Ultimately as guardian you should be putting the money in a relatively risk free place that keeps options open for your children unless they have specifically consented to using it for college. And I don’t think an eight year old is capable of that consent Not true at all. A guardian is a guardian ...
by 8foot7
Thu Oct 18, 2018 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Kids inherited $8,000 each - 529 or regular brokerage?
Replies: 34
Views: 2149

Re: Kids inherited $8,000 each - 529 or regular brokerage?

In particular have you asked your 12 year old what he or she would like to do with the money? I think other posters (including me) are getting a whiff that you’re just treating this money as your own because you are talking about how to invest it, and in particular in a vehicle that essentially lock...
by 8foot7
Wed Oct 17, 2018 5:21 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1709

Re: Buyers commission on a condo purchase

Talk about a fee I for one will never ever pay. The industry is moving toward rebates to buyers. I suppose it differs around the country. At least around these parts, it takes a special kind of cojones to not only *not* rebate but actually ask the buyer to pay the agent. Seems as backwards as you ca...
by 8foot7
Wed Oct 17, 2018 11:29 am
Forum: Personal Consumer Issues
Topic: Car servicing
Replies: 39
Views: 2152

Re: Car servicing

Stop taking the car to the dealer after the warranty is up. Find a local mechanic.
by 8foot7
Wed Oct 17, 2018 9:38 am
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 49
Views: 4192

Re: Best way to complain about Hertz bait-and-switch?

I would write a letter of complaint to the president of the board of directors of the airport demanding the the airport cancel the airport space lease for Hertz (and its affiliated companies) due to its failure to meet its commitments to customers. I would also request that the airport bar Hertz (a...
by 8foot7
Wed Oct 17, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: What would you do with unexpected tax refund?
Replies: 25
Views: 1262

Re: What would you do with unexpected tax refund?

Once you sort out what to do with the money I would still go back and re-look at the process and the capability of your tax practitioner. In most cases there should be no reason for a surprise refund at this late date. First, the fourth quarter payment isn't due until January 15 and for many (most?...
by 8foot7
Wed Oct 17, 2018 7:12 am
Forum: Personal Finance (Not Investing)
Topic: What would you do with unexpected tax refund?
Replies: 25
Views: 1262

Re: What would you do with unexpected tax refund?

That is a heck of a large refund to not expect. Even if you can't figure out if it's not an error, it might be. That's a really big number to not know is coming. If it were me with my aversion to the IRS, I think I'd sit on the money for a year or so and make sure they didn't come looking for it aga...
by 8foot7
Wed Oct 17, 2018 7:10 am
Forum: Personal Consumer Issues
Topic: Help: Potential car lease fraud?
Replies: 6
Views: 1150

Re: Help: Potential car lease fraud?

You might send a thank you card to whomever has been paying a lease in your name for adding another positive tradeline to your credit file. Also, check your credit more than once every {insert typical lease term here}.
by 8foot7
Tue Oct 16, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer – bonus details provided after acceptance
Replies: 26
Views: 1775

Re: Job Offer – bonus details provided after acceptance

Sounds like they manipulate the bonuses based on how much money they have to spend on people in the position you would take. So if one guy hits it out of the park and warrants all of the available bonus money, the boss' boss makes up numbers, shuffles accounts before the end of the bonus earning pe...
by 8foot7
Tue Oct 16, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer – bonus details provided after acceptance
Replies: 26
Views: 1775

Re: Job Offer – bonus details provided after acceptance

There are only three legit ways to play this: 1) demand a guaranteed year-one payout at 50%. It's understandable they might be rejiggering their comp system and you're willing to subject yourself to the whims of their system in year 2 but in year one you want the guaranteed bonus and you're willing ...
by 8foot7
Mon Oct 15, 2018 10:42 am
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1709

Re: Buyers commission on a condo purchase

What will these people think of next. I wouldn’t even attempt to negotiate it away, I’d just move on to another realtor who wasn’t so brazen, or better yet, if you’re in the 40 states that allow it, get a rebating buyers agent that will pay you.
by 8foot7
Sun Oct 14, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buy car cash or take low rate loan
Replies: 33
Views: 1816

Re: Buy car cash or take low rate loan

Also consider any additional cost of insurance that would be higher than what you’d normally carry due to the demand of the lien holder. In my case a $500 vs $1000 deductible on collision would easily eat up $300/year. Also is there a cash rebate you are foregoing to get the 1.9? Toyota is famous fo...
by 8foot7
Sun Oct 14, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Buy car cash or take low rate loan
Replies: 33
Views: 1816

Re: Buy car cash or take low rate loan

1.9 isn’t particularly attractive to me. Your net margin at a 3% CD is 1.1% and then you have to account for tax so you’re under a percentage point in advantage. Too much hassle for me. You’re talking about a gain of $300 or less a year.
by 8foot7
Sun Oct 14, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor discussing finances with me
Replies: 64
Views: 5901

Re: Neighbor discussing finances with me

AZAttorney11 wrote:
Sat Oct 13, 2018 3:28 pm
Let him do his thing. Invite him over, share a few beers, enjoy the grill, and talk about the kids or spouses or careers or something else. A good neighbor is hard to find. Don’t do anything that would potentially cause issues.
Wise advice
by 8foot7
Sat Oct 13, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6404

Re: Just Divorced -- Need Help

As my divorce attorney said, divorce settlements are supposed to be equitable, but not necessarily equal. I doubt very much most divorces are split exactly down the middle, and assets can come in all forms, liquid, illiquid, taxable, pre-tax. A divorce is a hugely negative event, and much of the ti...
by 8foot7
Sat Oct 13, 2018 12:07 pm
Forum: Personal Consumer Issues
Topic: Don't pay full price for SiriusXM radio
Replies: 51
Views: 9884

Re: Don't pay full price for SiriusXM radio

To me there is little point in paying any more than the 6 for $30 if you just care about music. They hardly ever go cheaper than that. At that price it is worth it to me—pretty much blends in with the background noise of any given month. At a higher price it is not. One time they called my bluff and...
by 8foot7
Fri Oct 12, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6404

Re: Just Divorced -- Need Help

the 0% credit card is just delay of debt, it won't solve your debt problem. Actually 0% will worsen peoople's debt situation. The only way is to out of debt quickly by cutting spending or even get a 2nd job. This. The 0% card alone won't solve your problem unless you can 1) transfer every bit of yo...
by 8foot7
Fri Oct 12, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase - Sellers Request Help with Repairs
Replies: 69
Views: 3048

Re: Home Purchase - Sellers Request Help with Repairs

Upon further review, it looks like the right call is to get a couple of quotes yourself that satisfy you, demand that the sales price be adjusted down by whatever the best quote is, and then hire the work done yourself after closing. It should make no difference to the sellers, who either have to co...
by 8foot7
Fri Oct 12, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Should we rent a car or take our low mileage 2006 Volvo on a family trip?
Replies: 49
Views: 3132

Re: Should we rent a car or take our low mileage 2006 Volvo on a family trip?

I agree with this line of thinking: what's the point of having a (reliable) car if you're not going to drive it?
by 8foot7
Fri Oct 12, 2018 6:55 am
Forum: Personal Consumer Issues
Topic: Can a Person Under 21 Rent a Hotel Room?
Replies: 15
Views: 1507

Re: Can a Person Under 21 Rent a Hotel Room?

If the CC is a problem, most hotels have a form you can fill out and fax back in advance to have his stay billed to your card.
by 8foot7
Fri Oct 12, 2018 6:29 am
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6404

Re: Just Divorced -- Need Help

As my divorce attorney said, divorce settlements are supposed to be equitable, but not necessarily equal. I doubt very much most divorces are split exactly down the middle, and assets can come in all forms, liquid, illiquid, taxable, pre-tax. A divorce is a hugely negative event, and much of the tim...
by 8foot7
Thu Oct 11, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Unknown financial gift from relative
Replies: 8
Views: 1100

Re: Unknown financial gift from relative

I would not be super enthusiastic if people were opening Ccounts in my childrens’ names using their social security numbers without my knowledge or consent, and I would probably ask that the practice stop at the existing gift. However, I don’t think you have much of a leg to stand in unless and unti...
by 8foot7
Thu Oct 11, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase - Sellers Request Help with Repairs
Replies: 69
Views: 3048

Re: Home Purchase - Sellers Request Help with Repairs

Look at it this way. If you don’t buy the house, the sellers will have to make the repairs anyway in order to stay on the market and there’s no way a future buyer would be asked to pay for the septic repair. They’re only asking because you’re kind of in the transaction now. Feel free to say no, or i...
by 8foot7
Thu Oct 11, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 4967

Re: Pls help us design our family life!!!

Since you have a $700,000 mortgage, you need approximately $233,000/year gross to service that debt and still be able to live life. Supposedly you should still be able to save a reasonable amount at that level. You're at, what, 240 now? So barely over the ideal, and now you want to reduce that by $5...
by 8foot7
Thu Oct 11, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 4967

Re: Pls help us design our family life!!!

If you’re not saving anything for retirement outside of what must be a minimal pension given what you’ve described, then you can’t afford your lifestyle *now.*
by 8foot7
Thu Oct 11, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Consultant Advice: Commission - What to watch out for
Replies: 11
Views: 909

Re: Consultant Advice: Commission - What to watch out for

Just tell the broker no, you broke the contract, you left us in a lurch, you pulled out, have a nice life. That’ll probably be the end of it. If I understand correctly you have no agreement with the broker and never had one. The contract was with your client and the broker. Is that correct? If so yo...
by 8foot7
Wed Oct 10, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Salary Negotiations: Guaranteed Money or Potential
Replies: 8
Views: 964

Re: Salary Negotiations: Guaranteed Money or Potential

I'm not a sales person but have supported sales (technical) forever and see what happens when a sales guy's income gets too high. All of a sudden, your client package changes and your commissions drop because maybe your biggest client gets assigned to one of the principals of the company or simply ...
by 8foot7
Tue Oct 09, 2018 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Delay between ESPP purchase and when shares are received
Replies: 2
Views: 224

Re: Delay between ESPP purchase and when shares are received

Is your stock price volatile? 15% is a decent enough discount but if you’re up and down that much in a daily or weekly basis that would make me think twice.
by 8foot7
Tue Oct 09, 2018 12:17 pm
Forum: Personal Consumer Issues
Topic: Neighbors tree branch growing too close to my house
Replies: 48
Views: 3816

Re: Neighbors tree branch growing too close to my house

My technique (in a land of small yards and large trees): I tell my neighbor that I will need to hack off some branches that are extending onto my property. If they are concerned about the health of "look" of the tree, I give them time to hire someone to do the job professionally. (An arborist told ...
by 8foot7
Tue Oct 09, 2018 9:12 am
Forum: Personal Consumer Issues
Topic: What are your strategies when shopping for a house?
Replies: 38
Views: 3342

Re: What are your strategies when shopping for a house?

We had someone try this third and fourth (and even a fifth) showing business. I get looking at a house two times, and I can even buy into the third showing if you come ready to leave an offer on the kitchen table. But never again will we allow more than 3 showings. Our experience: we indulged a four...
by 8foot7
Tue Oct 09, 2018 9:00 am
Forum: Investing - Help with Personal Investments
Topic: Evaluate net worth - FIRE really that close?
Replies: 56
Views: 7635

Re: Evaluate net worth - FIRE really that close?

OP, I think you need to decide whether you're interested in FIRE or just FI.
You need to have a portfolio that lasts 40+ years if you're pulling some trigger at 40, and there's quite a gap from 40 to 62 before SS kicks in -- plenty of time for SS to change up, too.
by 8foot7
Tue Oct 09, 2018 7:51 am
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12639

Re: What purchase saved you the most money?

bberris wrote:
Tue Oct 09, 2018 7:19 am
No one volunteering "Prenup?"
Probably because the divorce that caused them to want a prenup was so expensive
by 8foot7
Mon Oct 08, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Talk me out of buying a Tesla Model 3
Replies: 191
Views: 10882

Re: Talk me out of buying a Tesla Model 3

Cycle wrote:
Mon Oct 08, 2018 1:04 pm
Seems like a lot of money to be spending on a personal vehicle. I'd divert that money to retirement savings. Self driving fleets are coming very soon.
Op is 45 with no debt, paid off home, and a million bucks outside of car purchase. Buy the car.
by 8foot7
Mon Oct 08, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Postponing the bonus to next year. Is it a good idea?
Replies: 30
Views: 1933

Re: Postponing the bonus to next year. Is it a good idea?

Thanks everyone! I will just ask the employer to cancel the bonus this year all together. You are going to ask your wife’s employer to cancel her bonus? How does your wife feel about that? I would think OP and wife have had a discussion about this, but feelings may not really matter objectively. Th...
by 8foot7
Mon Oct 08, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: UPS mailbox experiences?
Replies: 14
Views: 730

Re: UPS mailbox experiences?

Had one for several years. Worked well. I appreciated I could call in and they would tell me what was in the mailbox so I could know if there was a check there or just other stuff.
by 8foot7
Sat Oct 06, 2018 11:02 am
Forum: Personal Finance (Not Investing)
Topic: getting paid as a contractor
Replies: 33
Views: 2208

Re: getting paid as a contractor

I’ve spent 20 years either as a part time or full time contractor and it took me 18 years to figure out the way not to have receivables was to get paid in advance, and then it took another two years to transition into that being a reality. The truth is that some clients balked and I let them walk. I...
by 8foot7
Fri Oct 05, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: How much effort to close an estate and is it worth it?
Replies: 13
Views: 1424

Re: How much effort to close an estate and is it worth it?

My understanding is that if no one steps forward to be the executor, his creditors may apply to do the job in order to have the legal right to liquidate assets within the estate to recover what they are owed. If they do it would likely not be done with the care that a family member would exercise. H...
by 8foot7
Fri Oct 05, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Regarding refund of rental deposit
Replies: 4
Views: 458

Re: Regarding refund of rental deposit

You'll never win if you left a lease 4 weeks early and the landlord wants to use the deposit as missed rent. Just let it go.
by 8foot7
Fri Oct 05, 2018 6:09 am
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11742

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

When I bought a home a few years ago, one thing my agent required as part of the contract was that the sellers provide a one year home warranty (seller had to buy me a policy). It wasn't that expensive $400-$500 dollars. My agent also made the seller pay for a professional home cleaning. I guess my...
by 8foot7
Thu Oct 04, 2018 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11742

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

buyer has threatened to take us to civil court Threats are easy. Taking you to court is hard. If you receive a summons, respond to it. Until then, ignore. * IANAL, but I did read https://www.reddit.com/r/legaladvice/ last night. To sue you, they will have to pay an attorney a retainer probably half...
by 8foot7
Thu Oct 04, 2018 5:41 pm
Forum: Personal Consumer Issues
Topic: Landlord wants to raise rent, but is asking if he can?
Replies: 54
Views: 5466

Re: Landlord wants to raise rent, but is asking if he can?

This forum seems to be full of people who will go to the ends of the earth to optimize their portfolio to a hundredth of a point but when some landlord comes around asking essentially voluntarily for 2.5% more every month, they're like, "oh, sure, give it to him, preserve the relationship." :oops:
by 8foot7
Thu Oct 04, 2018 7:09 am
Forum: Personal Consumer Issues
Topic: Dentist bill came 4-5 months later, is this unreasonable?
Replies: 28
Views: 2207

Re: Dentist bill came 4-5 months later, is this unreasonable?

I consider any medical bill received within six months of service to be timely considering how many parties have their hands in or out of the tills. I would pay it.

(These bills you can at times get a year or more after service are a different story.)
by 8foot7
Wed Oct 03, 2018 4:22 pm
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1447

Re: Accepting a Contingency Offer

You can accept but you just keep showing the house as if you don't have the first offer. Then if you get a second offer you give the first offer 24 hours to remove the contingency if they can. Sometimes people can qualify without selling their home, they just don't want to. The problem is that the ...
by 8foot7
Wed Oct 03, 2018 4:20 pm
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1447

Re: Accepting a Contingency Offer

What you have is an extremely weak offer that is only slightly better than nothing. Strongly advise you to not accept and not counter. Have your agent explain you aren’t considering contingent offers. Buyers can come back to you when their house is sold with a non-contingent offer.
by 8foot7
Wed Oct 03, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - 2 days after buyer claims they found an issue with A/C
Replies: 119
Views: 11742

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

Not every demand requires a response. In this case I probably wouldn’t even bother responding. You owe them nothing. But if I did, it would be one word—no.
by 8foot7
Wed Oct 03, 2018 6:16 am
Forum: Personal Consumer Issues
Topic: Water Leak During New Home Construction
Replies: 40
Views: 2413

Re: Water Leak During New Home Construction

If he's engaged a remediation company you will be fine. But I understand this is a stressful time; been there done that.

If your builder wrote into a contract a clause for compensating you for construction delays, I would be worried that he had never built a house before.