Search found 2326 matches

by Carefreeap
Thu Jul 19, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Liability with assets in irrevocable trust, bsteiner
Replies: 1
Views: 256

Re: Liability with assets in irrevocable trust, bsteiner

Doesn't the house have insurance, including liability insurance? If there are substantial assets then perhaps an umbrella policy is needed? If you're really worried about lawsuits against the property than holding it in an LLC might be warranted. But that leads to a whole 'nother set of hassles. The...
by Carefreeap
Thu Jul 19, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 57
Views: 7651

Re: New book based on Millionaire Next Door

...Some 46% of the educators attribute their wealth to inheritance... I find it difficult to believe that a greater percentage of educators would inherit significant resources than either doctors or lawyers. I could easily be convinced by the right data, but a priori there is no reason to assume th...
by Carefreeap
Thu Jul 19, 2018 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Can churning negatively affect getting a good mortgage rate?
Replies: 14
Views: 628

Re: Can churning negatively affect getting a good mortgage rate?

By "churning" it sounds like you are opening and closing credit cards? If so you might want to edit your post. Churning can mean a lot of different things. Are you closing the cards as well as opening new ones and doing transfer balances? If so that kind of activity can affect your score because you...
by Carefreeap
Wed Jul 18, 2018 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Buy a vacation home while renting
Replies: 61
Views: 3468

Re: Buy a vacation home while renting

A friend of mine has exactly this kind of house. 2 and a half hours away from the main home. Great place in the woods with plenty of hiking trails, close to mountains, close to lakes. He goes every weekend. Every Monday, he'd come in and tell me what a great time he had: "I wired in the cable so we...
by Carefreeap
Wed Jul 18, 2018 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 57
Views: 7651

Re: New book based on Millionaire Next Door

My parents were convinced that if you were a doctor you wouldn't have any money problems and that's just not true. :thumbsup Absolutely. It comes from the mindset that income equals wealth, but that's just plain wrong on several levels. And that pretty much sums up my parents. They had a very good ...
by Carefreeap
Wed Jul 18, 2018 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 57
Views: 7651

Re: New book based on Millionaire Next Door

My parents were convinced that if you were a doctor you wouldn't have any money problems and that's just not true. :thumbsup Absolutely. It comes from the mindset that income equals wealth, but that's just plain wrong on several levels. And that pretty much sums up my parents. They had a very good ...
by Carefreeap
Wed Jul 18, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Unusual asset protection strategies
Replies: 11
Views: 1339

Re: Unusual asset protection strategies

You'll also notice that most of the companies pushing these unusual steps are on the receiving end of a lot of money from the fear they create. Doesn't mean they are right or wrong, but I believe it calls for a dash of skepticism. +1 And right up there with various tax schemes to prevent the govern...
by Carefreeap
Wed Jul 18, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 57
Views: 7651

Re: New book based on Millionaire Next Door

The assumption that doctors, lawyers et cetera are wealthy because of their professions and often aren't because of student debt, the delay into the workforce and the image they often feel they need to project was excellent. I knew this to be true at about age 19. I was putting myself through colle...
by Carefreeap
Tue Jul 17, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 57
Views: 7651

Re: New book based on Millionaire Next Door

I read the first book and learned from it. However, it all comes down to this: If you spend all your money, you won't have any. Lol, you're right but what I thought it did a really good job at was pointing out that people who look like they are doing well very well not be. The assumption that docto...
by Carefreeap
Mon Jul 16, 2018 6:10 pm
Forum: Personal Consumer Issues
Topic: How much did your braces/invisalign braces cost?
Replies: 32
Views: 2515

Re: How much did your braces/invisalign braces cost?

5K (less 10% cash discount) to a dentist who teaches other dentists how to use Invisalign. Scottsdale AZ beginning of 2008.

While I was very happy with my ortho I do think that there's a zip code premium.
by Carefreeap
Sun Jul 15, 2018 3:33 pm
Forum: Personal Consumer Issues
Topic: Kitchen Remodel
Replies: 23
Views: 1717

Re: Kitchen Remodel

7. Cabinetry with rolling shelves and other features to save the "back" is worth a million ice packs. 8. The corners of a range hood or cooktop hood should never ever be below the tallest person in the house. :shock: 7. What is a rolling shelf? It's a flat drawer behind a door. Just get drawers in ...
by Carefreeap
Sun Jul 15, 2018 10:37 am
Forum: Personal Consumer Issues
Topic: Kitchen Remodel
Replies: 23
Views: 1717

Re: Kitchen Remodel

7. Cabinetry with rolling shelves and other features to save the "back" is worth a million ice packs. 8. The corners of a range hood or cooktop hood should never ever be below the tallest person in the house. :shock: 7. What is a rolling shelf? It's a flat drawer behind a door. Just get drawers in ...
by Carefreeap
Sun Jul 15, 2018 10:32 am
Forum: Personal Consumer Issues
Topic: Kitchen Remodel
Replies: 23
Views: 1717

Re: Kitchen Remodel

Thoughts. 1 Buy a range hood that is powerful, but "quiet". 2. Upsize the range hood duct to exterior wall. 3. Heat generating appliances with the digital control board near the heat need more repairs. 4. Buy appliances per a history of long term reliability and function vs "name" and cosmetics. 5....
by Carefreeap
Fri Jul 13, 2018 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

So many unrealistic expectations. A real lesson to those who think they are going inherit a fortune! Yes, but that story would make a great novel and television miniseries and might be worth more than the house would have been. Unrealistic Expectations might be an appropriate title for it. LOL, I'd...
by Carefreeap
Fri Jul 13, 2018 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

... I'm trying to wrap my head around a scenario whereby a life estate tenant would/could put up their interest as collateral. ... Have you actually seen something like this in real life? Life estates are awkward, so we try to avoid them. What happens when the property needs major repairs? If the r...
by Carefreeap
Thu Jul 12, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone experienced landlords here? Caught some of my tenants renting out rooms. Anything I should do?
Replies: 33
Views: 5803

Re: Anyone experienced landlords here? Caught some of my tenants renting out rooms. Anything I should do?

We have a property management company but I'll you why I would specify no sublets in the lease. As mentioned, you haven't screened the other 2 occupants. There will be additional wear and tear on your rental. These other 2 will have cars and likely overnight guests. If you want to tick off all your...
by Carefreeap
Thu Jul 12, 2018 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

That sounds way more complicated than it needed to be. Yikes. Lol, they usually are! I'm sure B. Steiner has examples of where they worked out. But I don't think that most do. Often people stay in houses longer than they really should and the house falls into ruin because they don't have the abilit...
by Carefreeap
Thu Jul 12, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

Ultimately the one my FIL created for his third wife failed. She couldn't afford to make the payments on the existing mortgage which was financed via a family trust. Although it destroyed the relationship between DH and her I figure we dodged a bullet. She's still alive 17 years later. I cannot ima...
by Carefreeap
Thu Jul 12, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

It's similar to buying a building where there's a tenant with a lease at a rent that's less than what the rent would be for a new tenant, except in this case you don't know how long she'll live. So there's the risk that she could live longer than average (and the possibility that she could die soon...
by Carefreeap
Thu Jul 12, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone experienced landlords here? Caught some of my tenants renting out rooms. Anything I should do?
Replies: 33
Views: 5803

Re: Anyone experienced landlords here? Caught some of my tenants renting out rooms. Anything I should do?

I am a new real estate investor and just bought a rental property in the Houston Texas area. One of my tenants rented the 2 bedroom townhouse themselves and I found is now sleeping in the living room and renting out the other 2 rooms to other people and did not inform me about this. The main tenant...
by Carefreeap
Thu Jul 12, 2018 1:49 pm
Forum: Personal Consumer Issues
Topic: kayaking!
Replies: 17
Views: 1423

Re: kayaking!

My recommendation would be to take a class at some nearby kayaking school. They often have many types of kayaks you can try out to see which one best fits you and you get some basic instruction. Another option would be to rent several different ones and try them on for size before investing in one....
by Carefreeap
Thu Jul 12, 2018 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Deciding how much to spend on home remodeling
Replies: 22
Views: 1883

Re: !

Remodeling is hugely stressful, messy, complicated, disruptive and did I say stressful? For that reason if you have the means, I advise doing everything you want/can afford to do as one major project rather than tackling something now, something in a few years etc. Agree with others' advice to try ...
by Carefreeap
Wed Jul 11, 2018 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?
Replies: 23
Views: 1065

Re: Life Estate Deed/Life Tenancy deal at steep discount--too good to be true?

These are pretty common in France but not that common for strangers here in the U.S. They are usually used here to keep a remaining (second) spouse in place. The biggest problem is it sounds like your friend is speculating that the property will continue to appreciate. It might not. Anything can be ...
by Carefreeap
Wed Jul 11, 2018 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding how much to spend on home remodeling
Replies: 22
Views: 1883

Re: Deciding how much to spend on home remodeling

I generally shoot for mid-range. I like durable materials (Silestone, good cabinets) but will go for a mid-range appliances, inexpensive field tile with a little accent for flooring and so on. One problem with higher end materials is that they often require higher maintenance and aren't as durable. ...
by Carefreeap
Tue Jul 10, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Grandmas Living Trust... Need Advice
Replies: 22
Views: 1379

Re: Grandmas Living Trust... Need Advice

Thank you all again for the input. So right now I’m leaning towards: Taking the “liquid” accounts and moving them to a bank account (or two for FDIC) and leaving her IRA alone but moving it out of NYL and into a different firm to help it grow a bit and make it easier to pay out to the beneficiaries...
by Carefreeap
Fri Jul 06, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: How do normal people afford the Bay Area?
Replies: 48
Views: 5028

Re: How do normal people afford the Bay Area?

As someone said, you make trade-offs. And if you read most threads here on BH the Bay Area is not Boglehead approved. :annoyed We bought in 1990, a 3/2 dump for about $240k in a SF Peninsula City about 10 miles from SF City Hall. My husband's salary was 50k. Therefore we were at nearly 5x his salary...
by Carefreeap
Wed Jul 04, 2018 4:01 pm
Forum: Personal Consumer Issues
Topic: Rodents ate my car!
Replies: 61
Views: 5389

Re: Rodents ate my car!

Ha, well at about $5k in 2004 I can problem out cost the lot of you. :oops: I was on a cycle trip to Western Ireland with my mother and had to park my car outside because we were in the process of doing a kitchen remodel and the new cabinets were worth more than my then 12 year old Jeep Grand Cherok...
by Carefreeap
Wed Jul 04, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Destination - are you happy with your choice?
Replies: 127
Views: 15173

Re: Retirement Destination - are you happy with your choice?

I love our house with it's great outdoor spaces and fantastic ocean view. Unfortunately it does have stairs so I'm resigned to the fact that it's not a forever house. I've told DH that we're going to have a decision to make in 10 years when he turns 70. For a place that wonderful that you already o...
by Carefreeap
Wed Jul 04, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Destination - are you happy with your choice?
Replies: 127
Views: 15173

Re: Retirement Destination - are you happy with your choice?

We're an anomaly in that unlike most people who move to a LCOLA area we moved back to our old house in VHCOLA SF Bay Area. We moved away for nine years; six years in AZ and 3 in Bonn Germany. I didn't want to sell the house when we first to AZ because if it didn't work out I didn't think we could af...
by Carefreeap
Fri Jun 29, 2018 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1320

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

I've searched and searched with google to find the answer to the original question about who has the authority to sign a release to remove the Deed of Trust on a property if the grantor is deceased. No luck. Was hoping someone would know. Probably have to talk to an attorney. B. Steiner (4th post) ...
by Carefreeap
Fri Jun 29, 2018 7:02 pm
Forum: Personal Consumer Issues
Topic: Determining "Fair Market Value" for a home
Replies: 14
Views: 1061

Re: Determining "Fair Market Value" for a home

An appraisal from a licensed appraiser would not be a bad idea. +1. This is the best way. The appraiser gives you a FMV based upon his assessment of the property and comparable sales in the area. I'd like to believe a single appraisal will give you fair market value. But I don't. My experience with...
by Carefreeap
Fri Jun 29, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1320

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

In this case the stream of payments from the condo sale will only last for two years. She has no other resources now, and the value of her condo makes up about two years worth of assisted living costs. Past that point, she will be eligible for Medicaid based on having no remaining assets. Our inten...
by Carefreeap
Fri Jun 29, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Investment Property With Father
Replies: 12
Views: 1114

Re: Investment Property With Father

I would pass. As someone pointed out he's been at this for 20 years and he can't retire at age 61. You would not enter into a deal like this on your own. Dealing with a family member will make it worse. My father and brother have just started speaking again after 10 years due to a real estate deal g...
by Carefreeap
Fri Jun 29, 2018 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1320

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Is there a reason why you don't just get a mortgage to buy the property? Basically didn't consider this because we were figuring to buy on payments via the carry back loan, and this would be a cheaper and less complicated approach. You mean less complicated for you, rather than her. Not being judgm...
by Carefreeap
Fri Jun 29, 2018 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1320

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Sure. The executor/Trustee issues a quitclaim deed or Release of Lien. The title company can help you with the documents to get the wording correct. You can also use a lawyer to prepare the deed but it's not that difficult of a task. Looking at the wording of a Deed of Release, it looks like it has...
by Carefreeap
Fri Jun 29, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Deed of Trust on Condo, how can borrower get a release if lender dies?
Replies: 26
Views: 1320

Re: Deed of Trust on Condo, how can borrower get a release if lender dies?

Sure. The executor/Trustee issues a quitclaim deed or Release of Lien. The title company can help you with the documents to get the wording correct. You can also use a lawyer to prepare the deed but it's not that difficult of a task.
by Carefreeap
Wed Jun 20, 2018 12:16 pm
Forum: Personal Consumer Issues
Topic: Drive from Phoenix to San Diego
Replies: 42
Views: 2698

Re: Drive from Phoenix to San Diego

Update: Going to Sequoia and Kings Canyon for 2 nights, Yosemite 2 nights. Was luckily able to find lodging within the parks last minute. We plan to exit Yosemite from the East Side and drive down 395 after checking out Toulumne Meadows, and Mono Lake. Are we better of spending the night in Mammoth...
by Carefreeap
Wed Jun 20, 2018 12:12 pm
Forum: Personal Consumer Issues
Topic: Home Sellers - do you read Buyer inspection reports?
Replies: 25
Views: 2217

Re: Home Sellers - do you read Buyer inspection reports?

I have gotten my own inspection reports prior to selling, using a highly respected local person. Then I fix most of the issues on the report and disclose it to prospective buyers. They of course are free to get their own inspection, but I feel my downside risk is known. By disclosing this before of...
by Carefreeap
Sat Jun 16, 2018 10:18 am
Forum: Personal Consumer Issues
Topic: Drive from Phoenix to San Diego
Replies: 42
Views: 2698

Re: Drive from Phoenix to San Diego

;-) the reason I suggested Mammoth is that there's plenty of cheap/nice lodging there this time of year (vs trying to get a place "in" Yosemite). You should be able to find a nice ski condo for $150 a night or less. Plus it would require you to drive out of Yosemite on the backside, which is frankl...
by Carefreeap
Sat Jun 16, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Top Shelf Liquor Overrated?
Replies: 191
Views: 16801

Re: Top Shelf Liquor Overrated?

...As far as beer goes, I only drink Bud Light. All these new craft beers are just too bitter and heavy for me. *sigh* (from a committed IPA consumer...) But you'll ruin your palate! This from my local wine dealer (who also sells craft beer). And she was right. My husband kept going for hoppier and...
by Carefreeap
Fri Jun 15, 2018 9:16 pm
Forum: Personal Consumer Issues
Topic: Top Shelf Liquor Overrated?
Replies: 191
Views: 16801

Re: Top Shelf Liquor Overrated?

...As far as beer goes, I only drink Bud Light. All these new craft beers are just too bitter and heavy for me. *sigh* (from a committed IPA consumer...) But you'll ruin your palate! This from my local wine dealer (who also sells craft beer). And she was right. My husband kept going for hoppier and...
by Carefreeap
Fri Jun 15, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: House that was in trust is actually in estate
Replies: 22
Views: 2300

Re: House that was in trust is actually in estate

Such a common problem. Everybody that has a trust should double check their assets while they are alive and especially if they did a re-fi as banks used to always take houses out of trusts and often the title company didn't put it back in. In California there is a law called a "Heggstad petition" f...
by Carefreeap
Fri Jun 15, 2018 5:23 pm
Forum: Personal Consumer Issues
Topic: Home Sellers - do you read Buyer inspection reports?
Replies: 25
Views: 2217

Re: Home Sellers - do you read Buyer inspection reports?

I have gotten my own inspection reports prior to selling, using a highly respected local person. Then I fix most of the issues on the report and disclose it to prospective buyers. They of course are free to get their own inspection, but I feel my downside risk is known. By disclosing this before of...
by Carefreeap
Fri Jun 15, 2018 5:13 pm
Forum: Personal Consumer Issues
Topic: Drive from Phoenix to San Diego
Replies: 42
Views: 2698

Re: Drive from Phoenix to San Diego

If Yosemite is indeed an option, it is far, far better to go there than Sequoia. Still a huge drive back down to San Diego. In the West, distances are vast and, worse of all, the scenery between the good parts is boring at 60-80 mph. And as mentioned a couple of times above, very hot in Summer. I'd...
by Carefreeap
Tue Jun 12, 2018 5:47 pm
Forum: Personal Consumer Issues
Topic: Top Shelf Liquor Overrated?
Replies: 191
Views: 16801

Re: Top Shelf Liquor Overrated?

Thought this article about Aldi's $17.50 whisky was appropriate:
http://www.msn.com/en-us/foodanddrink/b ... li=BBnb7Kz
by Carefreeap
Mon Jun 11, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Pre 65 Retirees - Healthcare
Replies: 21
Views: 2103

Re: Pre 65 Retirees - Healthcare

2k is probably about right. We're less than that right now but fortunately other than a couple of generic meds (and what seems like an annual PT session!) we don't have much out of pocket besides the premiums. I think we're at about $725 for him (59) and about $675 for me (56). I expect those premiu...
by Carefreeap
Sat Jun 09, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill edge closing expat accounts
Replies: 10
Views: 1104

Re: Merrill edge closing expat accounts

There are 100s of threads on this topics. Expats have their accounts locked. Pretty much no US broker allows you to reside overseas and maintain an active account. Check your sources. The only way to get around this is to us a VPN and lie by using a relatives address in the US. USAA took our accoun...
by Carefreeap
Sat Jun 09, 2018 6:33 pm
Forum: Personal Consumer Issues
Topic: Found an FSBO home for sale. How to avoid Realtor?
Replies: 42
Views: 3535

Re: Found an FSBO home for sale. How to avoid Realtor?

You might want to talk to a local RE agent to find out what the local/state laws require when a house is sold. In California, for example, the seller is required to tell you how close you are to an earthquake fault, nearby environment factors, and noises (some of which you will not hear on a weeken...
by Carefreeap
Thu Jun 07, 2018 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Guidance About New Spouse's IRS Issues
Replies: 61
Views: 5546

Re: Guidance About New Spouse's IRS Issues

He was a contractor for a few years just before and just after the divorce (this stopped the same year we got married). There were a number of factors: He had just gotten rid of his CPA because they increased fees (this cost us soooo much more than the little fees!!!) He was a 1099 and wasn't payin...
by Carefreeap
Wed May 30, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property To Future House?
Replies: 18
Views: 1440

Re: Rental Property To Future House?

I tend to agree with this scenario. My friend's family home just went on the market in Carmichael, listed for $649kish. Nice home, great area near the river. But it's a move-up and they generally don't make the best rental. FWIW they had it rented until Mom passed and even though Sac isn't that far...