Search found 2575 matches

by Carefreeap
Tue Oct 15, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 50
Views: 5302

Re: Should I invest in a ski in / ski out condo?

To paraphrase Point #6 of Dilbert's One-Page Guide to Everything Financial, buy a ski-in / ski-out condo if you want to own one and you can afford it. Leave the word "invest" out of it. "Investment" is just a word salespeople use to counter sales resistance for expensive purchases. Agree. Also, don...
by Carefreeap
Sat Oct 12, 2019 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 50
Views: 5302

Re: Should I invest in a ski in / ski out condo?

miamivice wrote:
Sat Oct 12, 2019 2:06 pm
Every year around this time, I start thinking about ski season. One thing that I always have been interested in is buying a ski in / ski out condo.
Could you define further what are you calling "Ski in, Ski Out"?

Is there road access? Walking distance to other amenities?
by Carefreeap
Tue Oct 08, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3346

Re: relocating across country

We may sell a car (we have a AWD SUV which I don't think we need in San Diego) but again want to make sure we don't go crazy, it is paid for, 5 years old and in great shape. Isabelle we are in a similar boat my husband is looking at houses a lot bigger than what we have now which is a discussion ri...
by Carefreeap
Mon Oct 07, 2019 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3346

Re: relocating across country

We may sell a car (we have a AWD SUV which I don't think we need in San Diego) but again want to make sure we don't go crazy, it is paid for, 5 years old and in great shape. Isabelle we are in a similar boat my husband is looking at houses a lot bigger than what we have now which is a discussion ri...
by Carefreeap
Sat Oct 05, 2019 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3346

Re: relocating across country

I don't know if 4700 square foot house is realistic in San Diego though. There are no shortage of 4700+ sq ft. homes in San Diego (my aunt lives in one, <1 mile from Moonlight Beach), but you're looking at $2M+...but with a $220k relocation bonus, who knows? Made me look! Plenty of homes in the $1....
by Carefreeap
Sat Oct 05, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3346

Re: relocating across country

Hi all wise Bogleheads. I am anticipating a relocation from New England to San Diego. Any words of wisdom on making a relocation as easy as possible for a family. Fortunately the finances seem to be well placed and the relocation budget I've been given is 220k which seems very generous. Thank you! ...
by Carefreeap
Sat Oct 05, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gains on real estate sale
Replies: 1
Views: 399

Re: Capital gains on real estate sale

I would hire a CPA for this year because of the real estate sale. Did you have a real estate agent sell the property? If so s/he probably knows good CPAs who are experienced in real estate sales. The actual capital gains part is probably not that hard but IIRC farms have some special provisions depe...
by Carefreeap
Thu Oct 03, 2019 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3346

Re: relocating across country

Have you made a few visits? It will be a bit of a culture shock. I grew up in San Diego but my parents were from New York City. One of my greatest gifts as I got older was translating between the two coasts. ;) Wonderful, year round weather which is great if you love sports and are active. Culturall...
by Carefreeap
Sun Sep 29, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Cashing out RE appreciation or keeping the rental cash flow?
Replies: 28
Views: 2099

Re: Cashing out RE appreciation or keeping the rental cash flow?

Take your stack of money, pay your cap gains taxes and enjoy your profit! :beer Your situation does sound similar. As for cap gains, I've claimed a homestead exemption on this particular property and lived in one of its units since purchase so my understanding is that I'm exempt from the first 500k...
by Carefreeap
Fri Sep 27, 2019 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Cashing out RE appreciation or keeping the rental cash flow?
Replies: 28
Views: 2099

Re: Cashing out RE appreciation or keeping the rental cash flow?

We sold two of our rentals in So. CA for a lot of the same reasons you listed. No Historical District but an HOA for one of the units. I loved the location and originally thought it would become my "Little Old Lady" home if anything happened to my husband but the tenant hassles, the neighbors and th...
by Carefreeap
Wed Sep 25, 2019 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC or reverse mortgage?
Replies: 22
Views: 1324

Re: HELOC or reverse mortgage?

Ah, so HELOC you have to make monthly payments; Reverse mortgage you don't. So then apples to apples, if you need exactly $300,000 for some specific purpose and if you go with a HELOC, then you better borrow more than $300,000 to cover the first N months of payments. A HELOC borrower has to provide...
by Carefreeap
Tue Sep 24, 2019 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC or reverse mortgage?
Replies: 22
Views: 1324

Re: HELOC or reverse mortgage?

I guess I don't fully understand reverse mortgages, but the few times I have researched them out of intellectual curiosity it was my impression that it was almost never a good idea. Unless maybe someone has a huge amount of equity in a house and almost no liquid assets. Just from the way they push ...
by Carefreeap
Tue Sep 24, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC or reverse mortgage?
Replies: 22
Views: 1324

Re: HELOC or reverse mortgage?

We're retired in our late sixties and own our home...no mortgage...and no other debt. Been thinking about tapping into our home equity in the event of emergencies or big purchases. Without getting into heavy number crunching (which I tend not to do), what do you think? There's no way to make the de...
by Carefreeap
Tue Sep 24, 2019 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Re: Another Lump Sum vs Monthly Annuity Question

Below is the pure math look for the $752.22/mo option. You can overlay that with your personal expectations for the two axes. See rows 97-117 in the 'Misc. calcs' tab of the personal finance toolbox spreadsheet if you'd like to check other options. https://i.postimg.cc/HWBnsqWb/screenshot-519.png T...
by Carefreeap
Mon Sep 23, 2019 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Re: Another Lump Sum vs Monthly Annuity Question

Bumping for the weekday crowd. And FWIW spouse is leaning toward the status quo; waiting to take pension at 65 for the higher amount with no spousal benefit. I’m fine with an age 65 pension monthly benefit. I’m less comfortable with no spousal benefit. If the actuarial tables hold out, you will die...
by Carefreeap
Mon Sep 23, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Re: Another Lump Sum vs Monthly Annuity Question

Bumping for the weekday crowd.

And FWIW spouse is leaning toward the status quo; waiting to take pension at 65 for the higher amount with no spousal benefit.
by Carefreeap
Sat Sep 21, 2019 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Re: Another Lump Sum vs Monthly Annuity Question

How much do you have invested in fixed income currently? Given that the pension pays out better than an annuity bought on the open market and given that both provide better yields than bonds (due to mortality credits), it's probably more optimal to keep the pension and take that into account when y...
by Carefreeap
Sat Sep 21, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Re: Another Lump Sum vs Monthly Annuity Question

Hi All, My husband received a letter from his former employer offering a lump sum for his pension or a series of monthly payment options. Financially we are in good shape and don't need this money but of course we'd like to optimize his options. We are FIRE. He turns 61 in November I just turned 58...
by Carefreeap
Sat Sep 21, 2019 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Another Lump Sum vs Monthly Annuity Question
Replies: 14
Views: 1059

Another Lump Sum vs Monthly Annuity Question

Hi All, My husband received a letter from his former employer offering a lump sum for his pension or a series of monthly payment options. Financially we are in good shape and don't need this money but of course we'd like to optimize his options. We are FIRE. He turns 61 in November I just turned 58....
by Carefreeap
Mon Aug 26, 2019 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent my primary house
Replies: 13
Views: 766

Re: Sell or Rent my primary house

I would only keep it if I planned on moving back. We rented out our primary for 9 years while we made two relocations. I'm glad we did mainly because I don't think we would have been able to afford a similar house (ocean view, great lot and immediate neighborhood) during retirement. Prop 13 has espe...
by Carefreeap
Sun Aug 25, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%
Replies: 25
Views: 2103

Re: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%

I think your property maintenance/capital improvement numbers are too low. Since retiring back to the SF Bay Area in 2012, we've had one remodeling project after another. Houses get old and stuff breaks and wears out. Since you're home more often stuff that isn't right will bug you more. Since movin...
by Carefreeap
Sun Aug 25, 2019 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Help in estimating capital gains tax on residence
Replies: 9
Views: 730

Re: Help in estimating capital gains tax on residence

I'd be looking for more improvements you did to add to purchase. Make sure you read IRS Pub 523 Key phrase is: These add to the value of your home, prolong its useful life, or adapt it to new uses. You add the cost of additions and other improvements to the basis of your property. So, a new roof, r...
by Carefreeap
Tue Aug 20, 2019 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Are there advantages to being married to a teacher?
Replies: 111
Views: 7400

Re: Are there advantages to being married to a teacher?

the only true negative i have found is that it makes it very difficult to move regionally. as in, it makes it more difficult for the non-teaching spouse to career climb and sort of narrows the job search radius. I think that's true with almost any trailing spouse. The ability to find work however w...
by Carefreeap
Mon Aug 19, 2019 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay points?
Replies: 14
Views: 1062

Re: Would you pay points?

Generally, points rarely pay off for the borrower. Average lifespan for a residential mortgage is 7 years... People intend to keep the mortgage long enough for the break even with the points to work, but rates go down further, refi for cash out, sell home due to changing circumstances, etc, etc. Go...
by Carefreeap
Tue Aug 13, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: help understanding pension
Replies: 19
Views: 1338

Re: help understanding pension

Always cash out of pensions when given the chance. Why wouldn’t you? I chose to leave mine on account as the stream of payments will exceed the lump sum in about 7 years. Since I'm 58 with an expected lifespan of 87 I think the math will work in my favor. No guarantees. I doubt I would be a better ...
by Carefreeap
Mon Aug 05, 2019 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Process to appeal appraisal related to seizure of property?
Replies: 11
Views: 727

Re: Process to appeal appraisal related to seizure of property?

Just FYI, in my particular case the state was taking just a portion of my property. Our arguments centered around the impact this would have on how the remaining property could be utilized in the future. From a financial standpoint it made a substantial difference. It wasn't as simple as what the p...
by Carefreeap
Mon Aug 05, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Process to appeal appraisal related to seizure of property?
Replies: 11
Views: 727

Re: Process to appeal appraisal related to seizure of property?

Your offer is probably the best "net" price you are going to get without a whole lot of extra time, hassle and money. By law if there are Federal funds involved (and if it's a hwy project it's likely through Federal Hwys) the agency must pay the highest PROBABLE price under the Uniform Federal Reloc...
by Carefreeap
Thu Aug 01, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, buying FSBO from landlord without agent-where to start?
Replies: 11
Views: 1005

Re: First time home buyer, buying FSBO from landlord without agent-where to start?

What I'd recommend is finding a real estate attorney who is also a licensed realtor. I'd stop talking to the landlord about it until you do so. Attorneys do not have to be licensed to sell property in CA. What I have done in the past is to hire whomever represents the local Board of Realtors or get...
by Carefreeap
Tue Jul 30, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4360

Re: Early retirees - what's your spending like?

I'm curious for early retirees, how many X expenses did you have when you decided to call it quits? And what's your annual spending like (how many X) and how much does it fluctuate? We didn't look at it in terms of X expenses but 7 years ago we had roughly 28.5 in investable funds. We were very, ve...
by Carefreeap
Tue Jul 30, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: loan settlement at home sale closing question
Replies: 6
Views: 697

Re: loan settlement at home sale closing question

When I have sold houses and closed out conventional loans, a payoff statement gets requested from the lender which is sent to the closing attorney/escrow company. The payoff statement states: * The payoff amount * The date the payoff amount is good through * A per-diem interest amount to be added e...
by Carefreeap
Mon Jul 29, 2019 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: loan settlement at home sale closing question
Replies: 6
Views: 697

Re: loan settlement at home sale closing question

To clarify, you lent the money to your parents vs you being a co-signer? I just finished up a private loan to some friends. Make sure the lawyer/title company executes a mortgage satisfaction/cancellation agreement which gets recorded with the county recorder. I was a little taken aback at the cost ...
by Carefreeap
Mon Jul 29, 2019 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficence
Replies: 37
Views: 2830

Re: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficen

The biggest risk in these kind of situations is a divorce, from either your current spouse or a future spouse. If it's a loan there's some chance of holding onto the some of the funds if the property is sold in divorce proceedings. If the money is just a gift to you and likely gets converted to com...
by Carefreeap
Mon Jul 29, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficence
Replies: 37
Views: 2830

Re: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficen

OP, Welcome to the forum! You are right to hit "pause" for a couple of reasons. Stating that a loan from your father is a gift is fraud. It can backfire in a number of ways. Can you afford the payment of both loans? Can your father afford to make the loan? In other words unless he's a very high net ...
by Carefreeap
Mon Jul 29, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficence
Replies: 37
Views: 2830

Re: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficen

If the funds from "father" are truly a gift. Then let it be that. Include that in your down payment. Get your mortgage. You don't have to inform the bank of your family arrangement (none of thier business) (nothing to do with a mortgage loan). Done. Keep it simple. j :D The bank is going to verify ...
by Carefreeap
Tue Jul 23, 2019 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Share your moving from HCOL to LCOL stories
Replies: 36
Views: 3808

Re: Share your moving from HCOL to LCOL stories

We went from the SF Bay Area to the greater Phoenix area for six years mainly to follow my husband's job in 2003 and because we needed a change. The company had new owners and thought CA was too expensive. Part of the company moved to Scottsdale and the other to outside Ft. Lauderdale. I think it wa...
by Carefreeap
Mon Jul 15, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Tenant turned off all utilities advice please!!
Replies: 85
Views: 8363

Re: Tenant turned off all utilities advice please!!

After the mess is cleaned up and the rental is restored, take pictures of everything before the new tenant moves in. And take pictures every time before a new tenant moves in, with dates/timestamp etc. Good ideas. This sounds like a "tenant from hell." Just wondering if there might have been some k...
by Carefreeap
Mon Jul 15, 2019 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Tenant turned off all utilities advice please!!
Replies: 85
Views: 8363

Re: Tenant turned off all utilities advice please!!

My brother needs advice. He rented his prior house out to a woman for a 1 year lease. He used to live in the house and it was totally remodeled and nice. The woman moved in and complained about everything and he always fixed everything. He even had the house professionally cleaned THREE times after...
by Carefreeap
Sat Jul 13, 2019 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 8448

Re: Has anyone inherited a obligation/burden/responsibility?

I have had a series of burdens passed on to me as a result of family deaths in the past 11 years. My kid brother was killed in a traffic accident in south Florida 11 years ago. At the time, my parents were still living, but were too old/poor to deal with any of the arrangements. I was not close wit...
by Carefreeap
Sat Jul 13, 2019 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Receive/Handle Money at Real Estate Closing
Replies: 5
Views: 545

Re: Best Way to Receive/Handle Money at Real Estate Closing

Why don't you have it wired directly into your Vanguard account? He would have had to sign up for wire transfers with VG first, also, some banks don't offer wire anymore, (or charge a fee for it) only EFT service to move money around. Personally, I never signed up for direct wire with any instituti...
by Carefreeap
Sat Jul 13, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 8448

Re: Has anyone inherited a obligation/burden/responsibility?

I have to admit a smile reading this - talk about dying while spending your last nickel! Kudos to your mom for outdoing even that! As someone stuck cleaning up the mess I was horrified and embarrassed. It was months and months of dealing with her lender and collection agencies. Other family members...
by Carefreeap
Sat Jul 13, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Receive/Handle Money at Real Estate Closing
Replies: 5
Views: 545

Re: Best Way to Receive/Handle Money at Real Estate Closing

I bought a house with cash four years ago and I am selling it to a cash buyer next week. I will be receiving a lot of cash, probably first wired to my lawyer. What is the best way to handle the money after the closing? My goal is to put it in my Vanguard money market account. I planned to deposit i...
by Carefreeap
Sat Jul 13, 2019 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 8448

Re: Has anyone inherited a obligation/burden/responsibility?

My mother died in 2008 nearly $400k in debt; about $300k upside down on her home, $60k in cc debt $40k in unpaid Federal taxes. It took a while but I was able to clean it up, working with her home lender, told the ccs they wouldn't get paid and the Fed debt was so old that it actually expired while...
by Carefreeap
Sat Jul 13, 2019 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Implications of paying for brothers assisted living?
Replies: 10
Views: 997

Re: Implications of paying for brothers assisted living?

As was said by CASage, your friend needs to speak to an eldercare specialist. There are state specific rules regarding Medicaid eligibility and most states have a 5 year look-back on assets. Your friend should also tour private pay and facilities which accept Medicaid. Here was my experience in rese...
by Carefreeap
Sat Jul 13, 2019 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 8448

Re: Has anyone inherited a obligation/burden/responsibility?

My mother died in 2008 nearly $400k in debt; about $300k upside down on her home, $60k in cc debt $40k in unpaid Federal taxes. It took a while but I was able to clean it up, working with her home lender, told the ccs they wouldn't get paid and the Fed debt was so old that it actually expired while...
by Carefreeap
Fri Jul 12, 2019 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Buying a court-ordered divorce house
Replies: 10
Views: 1393

Re: Buying a court-ordered divorce house

Seems pretty clear. Have the place inspected. If major things need to be done, subtract the cost of those things from your offer. +1 Also be prepared to be patient and the sale may take longer due to getting court approval of the sale terms. In my experience a court ordered sale means someone doesn...
by Carefreeap
Thu Jul 11, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 8448

Re: Has anyone inherited a obligation/burden/responsibility?

My mother died in 2008 nearly $400k in debt; about $300k upside down on her home, $60k in cc debt $40k in unpaid Federal taxes. It took a while but I was able to clean it up, working with her home lender, told the ccs they wouldn't get paid and the Fed debt was so old that it actually expired while ...
by Carefreeap
Thu Jul 11, 2019 9:49 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws are estate/Medicaid planning - need help
Replies: 24
Views: 2465

Re: In Laws are estate/Medicaid planning - need help

Question... if my FIL's main goal is to ensure the farm is passed down within the family (assuming a family member did indeed want the property), is he correct in thinking ahead to shelter it from a Medicaid spend-down in the event they need long-term care down the road? As been said before your in...
by Carefreeap
Tue Jul 09, 2019 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Tax deductions for someone elses's health care
Replies: 4
Views: 391

Re: Tax deductions for someone elses's health care

When I spoke to my CPA about father's situation she said I needed to provide at least 50% of his expenses to have him as my dependent.

Hopefully a good CPA will join the thread and provide a link from the IRS with the guidelines.
by Carefreeap
Mon Jul 08, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Potential opportunity in Germany - Needs relocation from US
Replies: 6
Views: 984

Re: Potential opportunity in Germany - Needs relocation from US

Lots of good advice here. We relocated from Arizona to Bonn, Germany mid 2009 through mid 2012. There are American/International schools in larger German towns. If you are only planning on staying a few years it's probably best to integrate your kids to school that way so they are prepared to return...