Search found 1126 matches

by JGoneRiding
Sun Sep 03, 2017 10:02 am
Forum: Personal Consumer Issues
Topic: Things to buy/repair before (early) retirement
Replies: 32
Views: 4564

Re: Things to buy/repair before (early) retirement

Besides the roof which is the second thing I thought of after car. I would think any appliances in the house that are getting close to going out or significantly aged would be good. Though really if you have done your retirement budget to include replacement costs it shouldn't matter.
by JGoneRiding
Sun Sep 03, 2017 9:57 am
Forum: Personal Finance (Not Investing)
Topic: 2 or 3 W-$ allowances for MFJ, no kids, 1 spouse w/taxable earned income?
Replies: 16
Views: 1781

Re: 2 or 3 W-$ allowances for MFJ, no kids, 1 spouse w/taxable earned income?

Technically you can claim whatever you want, did you see the other thread where guy was claiming 10 and now wants to claim 15? The real question is "what should you claim in order to not have a penalty" for most people in the situation you describe that will be 2 to get some refund. If you want to h...
by JGoneRiding
Sat Sep 02, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance - value to insure?
Replies: 23
Views: 3059

Re: Homeowners Insurance - value to insure?

State farm has a fairly vigorous costv to replace model. maybe they need to recalculate, but it is NOT a cost to buy model. Also I believe they generally write it such that as long as you don't reject their pricing structure if it is a total loss they will still pay full replacement cost.
by JGoneRiding
Fri Sep 01, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Stop income tax withholding
Replies: 15
Views: 1943

Re: Stop income tax withholding

NOt a CPA. But I believe there is a limit on the exemptions. I don't think more than 10 will change how much is withheld at all. The exempt line would be effective. I don't think the IRS is going to have an issue as long as they get the money they should. I imagine the fine would be significant if y...
by JGoneRiding
Fri Sep 01, 2017 10:03 am
Forum: Personal Finance (Not Investing)
Topic: 2 comma club (my way)!!
Replies: 60
Views: 13180

Re: 2 comma club (my way)!!

randomizer wrote:
Thu Aug 31, 2017 8:57 pm
Mrxyz wrote:
Thu Aug 31, 2017 7:46 pm
Update:

Made it to 2M
That sure was fast. Good times in the markets, certainly helps.
That was really fast! Can you share how much you think is market returns and how much is new money??? They aren't kidding apparently when they say the second is easier!
by JGoneRiding
Thu Aug 31, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Earthquake insurance - worth it?
Replies: 2
Views: 464

Re: Earthquake insurance - worth it?

There are several other threads on this exact issue for same area. I suggest you search and read them
by JGoneRiding
Thu Aug 31, 2017 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Help me help my grandmother (nursing home negotiation and best way to clear out a home for sale)
Replies: 29
Views: 2836

Re: Help me help my grandmother (nursing home negotiation and best way to clear out a home for sale)

My grandma is in a similar type of home. the tiered living, care levels have been hugely beneficial as the years passed. On paying, she paid a larger deposit to guarantee no increases but still monthly rent dependent on level of care needed. Her nursing home guaranteed permanent acceptance no matter...
by JGoneRiding
Wed Aug 30, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Administration Question
Replies: 65
Views: 5565

Re: Estate Administration Question

Sell the car....pay bills with proceeds....then sell the house....pay the rest....distribute. Joe just discovered that there is an outstanding loan of $9000 on the car which has a low book value of $11,000. Looks like he can try to sell the car and pay $2000 to his lawyer to get things started. Now...
by JGoneRiding
Wed Aug 30, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 9194

Re: How much sooner could you retire with NO property taxes?

Didn't you say you had no state income tax. Marginal state tax for me is 7.85%. We also have a sales tax of about 7%. So total taxes may not be so different. I also bought a very low cost condo which is valued around 160k. So am not living in luxury here. What state is this? (I want to make sure I ...
by JGoneRiding
Wed Aug 30, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 9194

Re: How much sooner could you retire with NO property taxes?

I pay about 0.8% of property value, also have no income tax but pay 8% sales tax on all none food items. (I have no idea what that adds to cause its a little hard to keep track of). If you stay out of the "city" area of the state (keep in mind half the state lives inside the greater Seattle/Bellevue...
by JGoneRiding
Tue Aug 29, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Quitclaim deed for land
Replies: 13
Views: 1366

Re: Quitclaim deed for land

I would add that if they are going to do it I would pay the money and run it properly through title company. Rather then a quit claim. Technically you can file the quit claim yourself with the county but it runs the risk of issues in the future. I agree with everyone that said the most that should b...
by JGoneRiding
Tue Aug 29, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Administration Question
Replies: 65
Views: 5565

Re: Estate Administration Question

Technically those TOD accts are actually part of the estate, they just don't require probate. They are however free game for debt and can and should be used to settle debts and keep the estate running. Are they "free game" for Joe? I don't think he has any access to them and will only be able to us...
by JGoneRiding
Tue Aug 29, 2017 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Administration Question
Replies: 65
Views: 5565

Re: Estate Administration Question

Most Executors are also beneficiaries, so in most cases... the TOD simplifies or eliminates probate and is still a very good thing. There are assets here, the plan proposed (sell car, then pay bills) is sound - no rush on paying the bills! I really don't see a need for a lawyer here. And, don't for...
by JGoneRiding
Tue Aug 29, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 8071

Re: Bad Idea to Have Zero Credit Cards?

Absolutely the only thing I ever use our debit card for is getting cash out of the ATM. I explicitly asked for and got an ATM card that wasn't a debit card :) Perhaps a bit harder to clean my bank account out in the wrong hands, though still possible. As an extra security measure, you could set a f...
by JGoneRiding
Tue Aug 29, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 8071

Re: Bad Idea to Have Zero Credit Cards?

I thought of another advantage!! If you travel to Canada or Mexico, I received the best exchange rates with NO FEES by simply using my Capital one card. In Canada on the "street" they wanted a 1:1 exchange which was ridiculous and banks charged fees to change cash. In mexico they wanted 1:10 rate wh...
by JGoneRiding
Tue Aug 29, 2017 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 8071

Re: Bad Idea to Have Zero Credit Cards?

Absolutely the only thing I ever use our debit card for is getting cash out of the ATM. I explicitly asked for and got an ATM card that wasn't a debit card :) Perhaps a bit harder to clean my bank account out in the wrong hands, though still possible. As an extra security measure, you could set a f...
by JGoneRiding
Tue Aug 29, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 8071

Re: Bad Idea to Have Zero Credit Cards?

On-line purchases are more difficult. Cannot use credit card to auto-pay bills. Cash back of 2-5% on purchases. Provides some recourse if having trouble with sellers. Travel can be difficult. Credit rating could drop which could affect insurance rates and possibly employment opportunitites. I see l...
by JGoneRiding
Mon Aug 28, 2017 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should we let MIL pay off our mortgage?
Replies: 69
Views: 10446

Re: Should we let MIL pay off our mortgage?

As a LL I can tell you if a house worth >410k was only going to rent for 2k/mos that is NOT an investment I would want mortgage free or not. Also if it has been your primary residence there are tax incentives to sell now vs waiting and while I like real estate, own 5 properties and have close to a m...
by JGoneRiding
Mon Aug 28, 2017 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Check serial number caused an issue
Replies: 26
Views: 2744

Re: Check serial number caused an issue

I was buying a rental car from Hertz last week (will share the whole experience in another post soon), paying with cash using Schwab check book. The check book starts with the serial 001. Since I hadn't used any of the checks by that time, so literally the check I was pulled to Hertz had the serial...
by JGoneRiding
Sun Aug 27, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Last Will & Testament web app
Replies: 3
Views: 638

Re: Last Will & Testament web app

I don't think "theres an app for that" in the traditional new aspect. I used rocket lawyer, it costs $20 more if you want a lawyer to personally review what you put in. Its plug and play with reasonable questions. Unlike others I had tried it covered all the issues I thought I basic will should cove...
by JGoneRiding
Sun Aug 27, 2017 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11337

Re: Living Expenses - what's "reasonable"?

We live in a HCOL area, and we're targeting a goal of $120k per year. If and when we move to a state with no state income tax, that can be reduced to more like $110k per year. We *could* reduce those expenses, quite clearly. But for us, that will be a very comfortable and very nice lifestyle. Most ...
by JGoneRiding
Sun Aug 27, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to accelerate paying off mortgage now that I am 57 yrs old?
Replies: 44
Views: 5264

Re: Does it make sense to accelerate paying off mortgage now that I am 57 yrs old?

The fair comparison is to bond rates, because that involves taking the same amount of risk. You can invest in stock instead of paying down the mortgage, but you can also take the same stock risk while paying down the mortgage, selling bonds to buy more stock. See Paying down loans versus investing ...
by JGoneRiding
Sun Aug 27, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 7891

Re: Sigh...I'm ready for criticism...how am I doing?

I couldn't find where he said his loss would be that great. But regardless, it he does decide to become a landlord, that would be another reason he needs a huge umbrella policy, if he does not already have one. A tenant may just latch on to an opportunity to sue a wealthy doctor, unfortunately. I w...
by JGoneRiding
Sun Aug 27, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Special-needs trusts for both children
Replies: 7
Views: 1059

Re: Special-needs trusts for both children

The point of SN trusts is to help provide for a disabled person while still receiving government aid. It doesn't sound like your daughter actually needs that. She most likely should have a standard trust with a lot of restrictions and not be her own trustee
by JGoneRiding
Sat Aug 26, 2017 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11337

Re: Living Expenses - what's "reasonable"?

For the guy that misses buying berries in Spain... I don't think that was a guy. Just sayin. I don't think that was a guy either. Victoria Y'all are reading too much into this - this just tells me that the OP is a guy (people tend to think of others on the internet as same gender and age as themsel...
by JGoneRiding
Sat Aug 26, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 7891

Re: Sigh...I'm ready for criticism...how am I doing?

The house does need some repairs and we had a buyer but he lost financing. All our equity is essentially gone since the market has depreciated and about $20k in repairs are needed. If we rent it, we will use property management. Nice thread title! I agree with others that you are doing well. As som...
by JGoneRiding
Sat Aug 26, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 218
Views: 34024

Re: What to do when a parent's money runs out?

Not sure what to say of value except to sympathize/empathize. My mom's situation is similar but not so extreme. I also have a sister who just doesn't care, so the burden falls on me. One thing I will say is that I look at it that $1200/mo SS plus $1000 from you on top -- that is what I estimate as ...
by JGoneRiding
Sat Aug 26, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 218
Views: 34024

Re: What to do when a parent's money runs out?

Originally it was indicated that this was a hard house to sell. It will be even harder with a $15K repair bill due for the furnace, not to mention the retaining wall and whatever else is broken - if the moldy plaster is actually mold, that could be very expensive. It seems that your mother has litt...
by JGoneRiding
Fri Aug 25, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Special Needs Trust - Do we need it??
Replies: 23
Views: 2269

Re: Special Needs Trust - Do we need it??

above the SSI she collects from my father who has passed What does this mean? I don't think "SSI" relates at all to a parent? Might it be something else? Consulting an attorney can also help/confirm all the relevant details to help make a decision. Some aspects of the assistance she can and cannot ...
by JGoneRiding
Fri Aug 25, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

I consider my net cash flow from rentals as income. I consider my living expenses as expenses. I don't consider any money I save by reducing my expenses as extra income earned. When I "cut the cord" and saved $70/mo from eliminating cable, I don't go around saying Sling increased my cash flow $50/m...
by JGoneRiding
Fri Aug 25, 2017 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

At the end of that period, your rent will increase or you'll be booted out. Those aren’t the only two options. If the market doesn’t allow for a landlord to raise the rental rate (because he doesn’t set the market rate), he may elect to liquidate his position (sell) if his costs don't allow him to ...
by JGoneRiding
Fri Aug 25, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Capital One Credit Cards - Disaster
Replies: 42
Views: 6452

Re: Capital One Credit Cards - Disaster

FWIW, payments still continue to post onto closed accounts. There would have been no "massive hit" to your credit score. (Edit: typo) True, but the OP raises an important point: if online access to my account has been closed, then how do I determine my final balance so I can send in a check? I'm as...
by JGoneRiding
Thu Aug 24, 2017 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Major House Remodel Worth It?
Replies: 21
Views: 3003

Re: Is a Major House Remodel Worth It?

moving structural walls and relocating stair cases is rarely ever a good economical idea. I would only do it if both a and b apply
a) I planned to stay "forever"
b) I could reasonable expect a 50% return on cost--that sounds unlikely

c) (optional) I couldn't sell and rebuy else where for less
by JGoneRiding
Thu Aug 24, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 11337

Re: Living Expenses - what's "reasonable"?

I have previously gone through my current budget and once I remove all "debt repayment" and "retirement savings/general savings" lines my budget is between 24-35k a year, excluding taxes. BUT that doesn't include large one off items like roof replacement and car replacement (though it does include e...
by JGoneRiding
Thu Aug 24, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Buying property in France
Replies: 27
Views: 3243

Re: Buying property in France

Dear Bogleheads, My wife and I are thinking about buying a 25% stake in a vacation home in France. My wife's three brothers will each have 25% shares. Do any Bogleheads have experience with the French Société Civile Immobilière, or "real estate company"? The other options for joint ownership seem w...
by JGoneRiding
Thu Aug 24, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: I did it and feel great about it (paid off mortgage)
Replies: 66
Views: 11331

Re: I did it and feel great about it (paid off mortgage)

In order to get the mortgage paid off sooner and not pay more money each month speak to a bank representative about paying 1/2 the mortgage payment every 2 weeks. It lessens the time period to pay and it also lessens the total interest paid. There`s no extra charge for this. You have to fill out so...
by JGoneRiding
Thu Aug 24, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

I'll repeat, the phrase 'renting is throwing away money' is outright wrong and only confuses rational decision making. You shouldn't concern yourself with the landlords cost base and how you cover that - all you should concern yourself with is what it costs you and what it would cost you (not the l...
by JGoneRiding
Wed Aug 23, 2017 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

One caveat, if you are living in a country or region with property taxes, you are basically still renting. Just at a discounted rate. For example, let's say you are paying $2000 to rent a place that costs $500,000 to buy. If you buy the place outright, with cash, you still need to pay your local pr...
by JGoneRiding
Wed Aug 23, 2017 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

Your logic is sound. However, I wouldn't even include principal in your equation because that's just a transfer of money from your bank account to your home (it's not an expense). I would only include expenses in your calculation, and I always use the interest associated with a 100% mortgage for ca...
by JGoneRiding
Wed Aug 23, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Overextended in Bay Area housing?
Replies: 37
Views: 4649

Re: Overextended in Bay Area housing?

We pay everything with credit card when we can. Is a monthly expense of $3000 not typical? Mortgage, insurance, property tax are about 3800 per month. 3,000 for monthly expenses. 1,000 for childcare. 1,000 for student loans. Take home after taxes is 11,700. So 11,700-8,800 is 2,900 left over each m...
by JGoneRiding
Wed Aug 23, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Sharing information with insurance agents.
Replies: 18
Views: 1770

Re: Sharing information with insurance agents.

Thanks. This was for auto+home+umbrella and the claim is that the umbrella limits needs to be justified. Are they asking for "proof" or clarification? For umbrella I have just had to give the numbers but my amt is only 1 mil. If you wanted more than 1 mil I could see them needing to justify the nee...
by JGoneRiding
Wed Aug 23, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: WA Unemployment and Earning Income for an LLC
Replies: 1
Views: 350

Re: WA Unemployment and Earning Income for an LLC

interesting question, i mostly am bumping you, I think the key here is "earned" income are LLC's considered earned I thought they were like dividends???
by JGoneRiding
Wed Aug 23, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Retirement plan for someone with no 401k
Replies: 8
Views: 1646

Re: Retirement plan for someone with no 401k

assuming combined income isn't sky high, the partner without a 401k can contribute to a regular IRA (its what we do). If one person is sky high than you are [(removed) --admin LadyGeek] the government just offers minimal ways to do it and unless they start their own business they aren't eligible for...
by JGoneRiding
Wed Aug 23, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: How much house w/ large nestegg and uncertain business
Replies: 5
Views: 1103

Re: How much house w/ large nestegg and uncertain business

There is no rule that says you must buy as much house as you can possible afford! So figure out what makes sense to you and buy accordingly, it is helpful not to look at houses more than you can afford. In your case I would think 150k x3 would be appropriate. If you JUSt HAVE to have more house than...
by JGoneRiding
Wed Aug 23, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Personal Loan to Repay 401k loan upon separation?
Replies: 7
Views: 835

Re: Personal Loan to Repay 401k loan upon separation?

That rate looks about right for personal loans but see if you an get a better rate if you take it for only 5 years
by JGoneRiding
Tue Aug 22, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Spend down plan for mom and dad - help needed
Replies: 8
Views: 2070

Re: Spend down plan for mom and dad - help needed

On the stocks of they are held in a taxable acct. You can sale up to 75900 for total income (pension, taxed ss portion, and capital gains) and pay no capital gains tax. After that you pay 15%. It does require knowing cosy basis. Or a good guestment
by JGoneRiding
Tue Aug 22, 2017 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: School Redistricting - What should we do?
Replies: 96
Views: 9431

Re: School Redistricting - What should we do?

In 5 years hs could change (get better as better kids go in) or redistrict again so I guess i just wouldn't get that excited. Sit tight wait and save like crazy
by JGoneRiding
Tue Aug 22, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should my grandfather liquidate?
Replies: 22
Views: 2231

Re: Should my grandfather liquidate?

So, on the IRA point, his wife recently passed away (my grandmother). He is being asked to assume or inherit her IRA. Given that he doesn't need any IRA funds now and does not have much taxable income each year to speak of (roughly $12,000), which should he do? Thanks again! There are special rules...
by JGoneRiding
Tue Aug 22, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Why do we consider cash flow from rentals but not our own homes?
Replies: 89
Views: 7450

Re: Why do we consider cash flow from rentals but not our own homes?

It comes up sometimes as "imputed rent" of the home. I don't think you can call it "cashflow" but maybe savings. I completely agree when you can say look if I rented this EXACT same house this is what it would cost you can count that in improved finances of owning. Its what most people forget when t...