Search found 442 matches

by Daryl
Tue Oct 23, 2018 4:44 am
Forum: Personal Finance (Not Investing)
Topic: Should I own my home through an LLC?
Replies: 19
Views: 2305

Re: Should I own my home through an LLC?

FIREchief wrote:
Tue Oct 23, 2018 4:19 am
Does umbrella liability coverage really pay out if a person rents their house out?
Most personal lines insurance policies exclude commercial activities. I'd recommend everyone read their policy and speak with a qualified agent / broker before assuming coverage exists.
by Daryl
Sun Oct 21, 2018 6:25 am
Forum: Personal Consumer Issues
Topic: Selling to CarMax if maintenance light is on?
Replies: 33
Views: 2851

Re: Selling to CarMax if maintenance lights on?

Rotate tires, and check tire pressure and condition. Replace air cleaner element, check drive belt, and replace dust and pollen filter. Replace oil, oil filter and check "various systems and components" Just as a point of reference, most of these items can be completed in your driveway for less tha...
by Daryl
Sun Oct 21, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Kitces link: The Spectrum of Financial Dependence and Independence
Replies: 23
Views: 2293

Re: Kitces link: The Spectrum of Financial Dependence and Independence

Level 7: Retirement savings, education savings, and avoidance of consumer and auto debt. You still rely on bosses and customers, but you can foresee a time when your current savings will open up a new level of independence for you and your family. This is the most realistic goal for most people. Th...
by Daryl
Sun Oct 21, 2018 5:45 am
Forum: Investing - Help with Personal Investments
Topic: Best Investments for an HSA account using TD Ameritrade
Replies: 6
Views: 751

Re: Best Investments for an HSA account using TD Ameritrade

I am in my late-20s, and am hoping to hold this investment for the next forty or so years. At the same time, you never know when a health emergency will come up so I am not looking to take on too much risk. Before choosing any investments, the first step really is determining what would cause you t...
by Daryl
Fri Oct 19, 2018 8:24 pm
Forum: Investing - Theory, News & General
Topic: Avoiding Wash Sale: FSTVX -> ITOT
Replies: 7
Views: 926

Re: Avoiding Wash Sale: FSTVX -> ITOT

What would it look like if you decided to plot the total return of these two funds on a chart? Are they "substantially identical"? By asking this question it would seem that you already feel that these are very similar, and you are concerned that you make be about to do something wrong. The IRS has ...
by Daryl
Fri Oct 19, 2018 5:37 pm
Forum: Personal Consumer Issues
Topic: Selling to CarMax if maintenance light is on?
Replies: 33
Views: 2851

Re: Selling to CarMax if maintenance lights on?

I recently sold a car to CarMax. They asked me some general questions about my car and then took it back for their inspection. I was able to watch part of the process from their waiting room. Their inspection seemed reasonable. When they shared their offer with me, they noted some of the recent repa...
by Daryl
Fri Oct 19, 2018 5:51 am
Forum: Investing - Help with Personal Investments
Topic: What if your risk tolerance is lower than what's best for your portfolio?
Replies: 51
Views: 3721

Re: What if your risk tolerance is lower than what's best for your portfolio?

I just hate losing money, even if it's only paper losses, especially now that I'm semi-retired. (I've lived through bears and recessions and don't panic sell. But my mood goes south.) I wish we spoke more about the emotional aspect of investing because it is almost impossible to understate it's imp...
by Daryl
Thu Oct 18, 2018 3:52 am
Forum: Personal Consumer Issues
Topic: When to change tires; and what brand
Replies: 103
Views: 4744

Re: When to change tires; and what brand

2/32nds. At that point the car fails to pass my annual state safety inspection. The brand varies based on the estimated useful life of the car. I'm always looking for a good value, which means that I'm willing to pay a couple extra dollars for a better product, but I typically avoid the top echelon....
by Daryl
Mon Oct 15, 2018 5:52 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 368
Views: 33112

Re: free dinner investing seminar

Scrapr wrote:
Sat Oct 13, 2018 11:55 pm
I am not declaring this on my 1040 :moneybag :sharebeer
Why not? You seem to understand that this is "income".
by Daryl
Sun Oct 14, 2018 7:05 pm
Forum: Investing - Help with Personal Investments
Topic: Non-profit investing
Replies: 5
Views: 313

Re: Non-profit investing

What do your donors think of the idea? I'm on the Board of a smaller non-profit (about 60 members); however, our operations are very capital intensive. Our major donor was very interested in seeing our organization investing in "high dividend yield" equities, especially with lower market capitalizat...
by Daryl
Tue Oct 09, 2018 5:11 am
Forum: Investing - Help with Personal Investments
Topic: When to buy some form of US bonds?
Replies: 6
Views: 996

Re: When to buy some form of US bonds?

My investing strategy is simple. I assume that I'm the dumbest person in the room. Everything I know is based on "fake news" and other lies. The odds are that if I pick an asset allocation, and stick with it, I'll be just fine in the end.
by Daryl
Tue Oct 09, 2018 4:50 am
Forum: Personal Finance (Not Investing)
Topic: How do you calculate/state your income?
Replies: 13
Views: 1208

Re: How do you calculate/state your income?

Depends if I'm on a date or talking to the IRS!

Since I work for Megacorp, I think of income in terms of Social Security / Medicare wages from my W-2. This is before the deduction for 401K contributions.
by Daryl
Mon Oct 08, 2018 6:15 am
Forum: Investing - Help with Personal Investments
Topic: vix option how to buy costs and returns [CBOE Volatility Index]
Replies: 4
Views: 317

Re: vix option how to buy costs and returns [CBOE Volatility Index]

Im 59 semiretired 300k cash/realestate/401k total assets and nodebt, and empty nester Is your total net worth $300k? If so, I really would like to understand your retirement / legacy goals. While you have much, much more than a lot of people, your current nest egg would not fund the type of retirem...
by Daryl
Sat Oct 06, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Level of Auto Insurance to carry
Replies: 35
Views: 1845

Re: Level of Auto Insurance to carry

Not my experience over lat 40 years. Saved a lot with high deductible collision and comprehensive. Insurance is very local, but in my area, increasing / decreasing comp/collision deductibles really didn't have a meaningful impact on annual premiums. I live in Lake Wobegon, where all the drivers are...
by Daryl
Thu Oct 04, 2018 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: Quick Micro Question for a Micro Amount of Money
Replies: 10
Views: 730

Re: Quick Micro Question for a Micro Amount of Money

Hello, I just opened a Roth at Fidelity that I plan to start funding with anywhere from $100-$1000 a month, which I kicked off with my first $400. I planned to put this into a single index fund like a Large Blend 500, but I see I need $2500 minimum to start FUSEX. Is there another index you might r...
by Daryl
Wed Oct 03, 2018 5:27 am
Forum: Personal Consumer Issues
Topic: Landlord wants to raise rent, but is asking if he can?
Replies: 54
Views: 5517

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

Every good, experienced landlord knows that there is nothing more expensive in real estate investing than vacancy. Better to have a unit that is slightly below "market rents" and a great tenant than an empty unit earning nothing. The best time to increase rents is with the natural turn-over of the u...
by Daryl
Wed Oct 03, 2018 4:49 am
Forum: Investing - Help with Personal Investments
Topic: Buying Treasury Bills: Treasury Direct or Vanguard / Fidelity
Replies: 78
Views: 14831

Re: Buying Treasury Bills: Treasury Direct or Vanguard / Fidelity

I have a CD maturing on 10/15/2018 at Fidelity. Is it possible to buy 1-year T-bills (auction on 10/9/2018, settlement on 10/11/2018) with the proceed of the CD? I've enabled margin trading on my Fidelity account so I don't think this would be an issue. Trying this in a cash account could be proble...
by Daryl
Thu Sep 27, 2018 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA - Private mortgage on investment property
Replies: 8
Views: 594

Re: FAFSA - Private mortgage on investment property

I'd avoid this whole situation as I don't have any interest in mixing extended family relationships and finances! Let's assume you borrow the funds from an unrelated third party and that the arrangement includes reasonable terms. Without reading any of the instructions, I'd probably be OK reporting ...
by Daryl
Wed Sep 26, 2018 5:41 am
Forum: Investing - Theory, News & General
Topic: Exactly how do index funds work?
Replies: 15
Views: 1825

Re: Exactly how do index funds work?

"The Wizard"'s post is spot on. Most of us realize that index funds employ a sampling technique to match (as closely as possible) the return of the underlying index. This creates tracking error, which may result in over/under performance with respect to the underlying index. In some cases, tracking ...
by Daryl
Sat Sep 22, 2018 6:44 pm
Forum: Personal Consumer Issues
Topic: When is it OK to not go through car insurance after you've been hit?
Replies: 17
Views: 1901

Re: When is it OK to not go through car insurance after you've been hit?

I'd recommend reporting it. It is likely that the insurance companies can help expedite the repair process, and they may have negotiated rates with the body shop / rental car place (if needed). I was recently rear-ended. It didn't look too bad, but the body shop was able to see structural damage onc...
by Daryl
Thu Sep 20, 2018 5:24 pm
Forum: Investing - Theory, News & General
Topic: Bad Investments Within Foundation
Replies: 6
Views: 521

Re: Bad Investments Within Foundation

I served on a volunteer investment committee such as you described! Our major donor wanted to us to consider individual stocks (highly concentrated positions). I simply asked for an investment policy statement with clearly defined entry/exit points and benchmarks. He thought I was a PITA. Other memb...
by Daryl
Tue Sep 18, 2018 4:07 am
Forum: Investing - Theory, News & General
Topic: 401k: Why not only after-tax?
Replies: 37
Views: 4207

Re: 401k: Why not only after-tax?

The current year tax deferral is at my marginal tax rate. In three decades, when I take RMDs, I'll be "filling in" the lowest tax brackets first and my effective tax rate in retirement will be significantly less than my current marginal tax rate. When that happens, "tax deferral" essentially turns i...
by Daryl
Fri Sep 14, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else not save for cars?
Replies: 113
Views: 10277

Re: Anyone else not save for cars?

The manufacturer was providing a low rate loan so I went with it. Financed 100% of the car's price. Signed a couple of forms and they handed me a set of keys. Buying a car with $0 money down (and a super low rate) was surreal. I've worked hard to stay on top of my personal finances, and my credit sc...
by Daryl
Sun Sep 09, 2018 6:35 am
Forum: Investing - Theory, News & General
Topic: Mutual Fund Fee Wars Will Encourage Bad Behavior
Replies: 26
Views: 2656

Re: Mutual Fund Fee Wars Will Encourage Bad Behavior

What is missing from some of these arguments is any understanding of "tracking error". When I buy a passively managed investment, I want it to track the underlying index. A mutual fund/ETF that fails to adequately track the underlying is useless, even if it has a low fee! Note: Tracking error can be...
by Daryl
Sun Sep 09, 2018 6:20 am
Forum: Personal Consumer Issues
Topic: Getting Top Dollar for Selling our Condo
Replies: 16
Views: 1295

Re: Getting Top Dollar for Selling our Condo

One house flipper listed his project before any work had been completed with a note that price would increase throughout the project. He received a satisfactory offer in a week or two (before "appliances matched"). I'm sure he would have slapped a new coat of paint on the unit if he thought it would...
by Daryl
Sun Sep 09, 2018 6:03 am
Forum: Investing - Help with Personal Investments
Topic: home and vehicle insurance quotes
Replies: 3
Views: 394

Re: home and vehicle insurance quotes

I've been with the same carrier for about a decade. Every once in a while I'll shop around, send a couple competitive quotes (from other carriers) to my current agent and we'll compare them together. As in most things, I'm always looking for value when it comes to my insurance premium dollars. Part ...
by Daryl
Sat Sep 08, 2018 8:14 am
Forum: Personal Consumer Issues
Topic: Buy a house that needs full renovation?
Replies: 40
Views: 1742

Re: Buy a house that needs full renovation?

alil wrote:
Sat Sep 08, 2018 7:39 am
I do expect to bring the price down significantly - hopefully 210K.
If I was the seller and you did that to me, I'd terminate the house sale process and seek financial damages. It isn't reasonable to offer >$250K, then get cold feet and demand a 20% price concession!
by Daryl
Sat Sep 08, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Healthcare sharing programs
Replies: 19
Views: 1122

Re: Healthcare sharing programs

I'm confident that this community can a great discussion on this topic. The most important thing to consider with these plans is that they are not "insurance" in the traditional sense. There is no risk transfer. The patient is responsible for 100% of the medical costs incurred. They may seek reimbur...
by Daryl
Thu Sep 06, 2018 5:59 am
Forum: Personal Finance (Not Investing)
Topic: Rent Increase or Not?
Replies: 25
Views: 2609

Re: Rent Increase or Not?

<-- Another renter. It is my understanding that good rentals are much easier to find than good tenants. I highly recommend that you price your rental at the highest price the market will bear and then work to find the right tenant. After that, do everything that you can to keep them happy (and those...
by Daryl
Mon Sep 03, 2018 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Under insured motorist insurance
Replies: 19
Views: 1048

Re: Under insured motorist insurance

Another factor is that I think I am a safer driver than average and the rates are set for the average driver. So on a statistical basis I am money ahead particularly since the insurance company has to pay their expenses and make a profit on their premiums. All insurance is local, so perhaps things ...
by Daryl
Thu Aug 30, 2018 5:21 am
Forum: Personal Finance (Not Investing)
Topic: Which formula to use to calculate personal Savings Rate?
Replies: 9
Views: 987

Re: Which formula to use to calculate personal Savings Rate?

Adjusted Livesoft Income

Just kidding! I don't go through that much effort. I save what I can based on my basic living expenses and a couple hobbies. I'm striving to have "enough" for today and tomorrow. Learning what contentment means for each of us is an incredibly liberating experience!
by Daryl
Tue Aug 28, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: 28/F - First time home buyer needs advice on saving more
Replies: 39
Views: 3889

Re: 28/F - First time home buyer needs advice on saving more

5-6% and seller pays half so you are really only looking at 2-3%. 10% seems way off base to me. In my experience, the seller pays all of it. It comes out of the negotiated price. The buyer doesn't spend more to compensate their agent. This is one of my pet peeves. When comparing "rent vs buy", I AL...
by Daryl
Mon Aug 20, 2018 7:38 pm
Forum: Investing - Theory, News & General
Topic: Are millennials botching their asset allocations?
Replies: 68
Views: 7697

Re: Are millennials botching their asset allocations?

0% Equity and 100% equity accounts don't tell the whole story. I'm in this demographic and have a little bit of each. To one broker, I'm a 100% fixed income investor. To another, I'm 100% equities. Neither sees the whole picture.
by Daryl
Fri Aug 17, 2018 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Cheapest Home Insurance ?
Replies: 34
Views: 3029

Re: Cheapest Home Insurance ?

You may want to reconsider your approach to insurance and instead focus on value. When I pay premiums, I'm doing so based on the expectation that the company will be solvent (able to pay for the damages I cause), provide outstanding claims service, and answer any premium / coverage related questions...
by Daryl
Wed Jul 25, 2018 6:10 am
Forum: Personal Consumer Issues
Topic: How much car can I buy?
Replies: 46
Views: 2269

Re: How much car can I buy?

Honda Civic! Wait.... Two small children? Perhaps an Accord is in your future!
by Daryl
Mon Jul 23, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone sell their car to Carmax or webuyanycar.com?
Replies: 34
Views: 3803

Re: Anyone sell their car to Carmax or webuyanycar.com?

Sold a 10 year old Toyota Rav4 to Carmax. Received a fair offer. Accepted it. Deposited the check in my bank, and it bounced! Called Carmax the very next day. Entire staff was very apologetic, and offered to bring a replacement check to my office that same day. I explained that wasn't necessary. The...
by Daryl
Wed Jul 11, 2018 3:42 pm
Forum: Personal Consumer Issues
Topic: Living above means until March 1st
Replies: 16
Views: 2223

Re: Living above means until March 1st

As someone who "front-loads" my 401k contributions, I'm typically cash-flow negative for the first part of each year (until I hit the IRS limit)
by Daryl
Tue Jul 10, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much should i expect to pay for car insurance?
Replies: 22
Views: 1474

Re: How much should i expect to pay for car insurance?

I'm on the opposite side of the Delaware River (Philly suburbs). I could easily pay anywhere from $750 - $2,000 annually for premiums, with the same company! It depends on which coverages I selected, and associated limits.
by Daryl
Tue Jul 10, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Car totaled by uninsured driver
Replies: 37
Views: 3628

Re: Car totaled by uninsured driver

Out of curiosity, what state do any of you live in where this loss would be covered under underinsured/uninsured motorist? Typically these would cover bodily injury only (and have $0 deductible). The property damage, is probably a collision claim which is why we've seen so many mentions of deductibl...
by Daryl
Sat Jul 07, 2018 7:00 am
Forum: Personal Consumer Issues
Topic: Which advanced tech is necessary in cars?
Replies: 86
Views: 4975

Re: Which advanced tech is necessary in cars?

Ultimately, "necessary advanced tech" can only be determined after an accident that would have been otherwise prevented :oops: My 2017 Honda Civic has almost all of the safety features mentioned below (missing blind spot monitoring). Did I buy this car just to get that tech? No! Rather, I consider i...
by Daryl
Tue Jun 26, 2018 5:23 am
Forum: Personal Finance (Not Investing)
Topic: Excess Liability
Replies: 10
Views: 871

Re: Excess Liability

I'm assuming that most insurance agents within the United States use the terms "excess liability" and "umbrella" interchangeably. Please understand that auto liability / excess liability insurance policies are primarily for the benefit for third parties! Most of my personal assets already enjoy sign...
by Daryl
Mon Jun 18, 2018 5:36 pm
Forum: Personal Consumer Issues
Topic: How much car to buy reasonably?
Replies: 86
Views: 5781

Re: How much car to buy reasonably?

Honda Civic.

I could afford to drive a "status symbol", but why? The new Civics are a lot of fun!
by Daryl
Mon May 28, 2018 6:55 pm
Forum: Investing - Theory, News & General
Topic: Can anyone recommend Any Social Responsible fund/s?
Replies: 17
Views: 1526

Re: Can anyone recommend Any Social Responsible fund/s?

Of course universal agreement on a definition of "socially responsible" is an elusive goal, hard to imagine any low cost socially responsible fund that can keep all investors who call themselves socially responsible completely satisfied. +1 - "Socially Responsible Investing" is so hard to define, e...
by Daryl
Sun May 27, 2018 9:24 am
Forum: Personal Consumer Issues
Topic: How to dispose of car towed to mechanic?
Replies: 10
Views: 1384

Re: How to dispose of car towed to mechanic?

I've donated a vehicle to my local public radio station. The whole process took less than a week.
by Daryl
Mon May 21, 2018 5:31 pm
Forum: Personal Consumer Issues
Topic: What big item (>20k) are you saving up for?
Replies: 159
Views: 15610

Re: What big item (>20k) are you saving up for?

You might find out that your neighbor is saving up to build an RV-7 - that doesn't really help you if your not a licensed private pilot. Buying the same bass boat as your other neighbor would be a waste if you hate fish. A couple doors down they are building a RV-10 (EAA Chapter 240). Personally, I...
by Daryl
Tue May 15, 2018 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Bicycle insurance? when you're in the roadway like a car
Replies: 38
Views: 3581

Re: Bicycle insurance? when you're in the roadway like a car

If I'm injured while riding my bicycle, I'll visit the hospital and provide them with all my insurance policies (health / auto / renters) and let the insurance companies fight it out. Likely, they'll try collecting from the driver who hit me. I actually think that renters / homeowners might provide ...
by Daryl
Tue May 15, 2018 8:39 pm
Forum: Personal Consumer Issues
Topic: New motorcycle rider
Replies: 106
Views: 5616

Re: New motorcycle rider

I rode for a couple years, then one day I saw a website with pictures of "used" helmets (accidents). I sold my bike. Rarely is the motorcyclist "at fault" for an accident, but at the end of the day, it doesn't matter unless you can go home to your family at the end of the day. I had a lot of fun and...
by Daryl
Tue May 15, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Car insurance questions
Replies: 4
Views: 689

Re: Car insurance questions

Car insurance isn't to protect your assets. It is to restore third parties to "pre-accident" condition to the extent that money can make things better. Think about the potential injuries you could cause with your car. Your insurance coverage provides the first level of coverage (auto + any excess li...
by Daryl
Mon May 14, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Do you know your marginal tax rate?
Replies: 27
Views: 3229

Re: Do you know your marginal tax rate?

Yes - 22% (For W-2 Sources), a little less for 1099 (INT/DIV)

Effective Rates are a little harder to calculate. What is the denominator? Adjusted Livesoft Income?
by Daryl
Sat May 12, 2018 6:12 am
Forum: Investing - Help with Personal Investments
Topic: How close do you cut your monthly surplus?
Replies: 22
Views: 3284

Re: How close do you cut your monthly surplus?

For the past couple of months, my expenses have been more than my take home pay. Like many members of this forum, it would be easy to increase my take home pay for large, anticipated expenses (I'd reduce my 401K deferral percentage). Unanticipated expenses could be covered by margin / sale of taxabl...