Search found 164 matches

by Minty
Fri Jun 30, 2017 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this
Replies: 10
Views: 1591

Re: Leaving big law for public interest- how to save/allocate 1 year of salary the best way to prep for this

I made that move some years ago. My advice would be to reduce fixed expenses. Paying off debt with a bonus seems smart. On top of that, I would start living now on the salary you expect in 1.5 years. I agree with the suggestion to halt 529 payments. Your marginal tax rate will be low so the tax-free...
by Minty
Sun Jun 18, 2017 2:14 am
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 27676

Re: Siblings in disagreement over mom's house.

Just a thought: Could the siblings agree to rent it, as a way of paying for maintenance and insurance, and once it is cash-flowing, funds for a mortgage or division might become available.
by Minty
Wed Jun 14, 2017 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Buying cost vs renting (specifically for me)... can anyone fact check this?
Replies: 36
Views: 3280

Re: Buying cost vs renting (specifically for me)... can anyone fact check this?

The assumed 5% appreciation is a red flag. Owning a home with a mortgage is a leveraged commitment. "Your equity is at the top and you own it all the way to the bottom." On preview, I agree with SoonerD.
by Minty
Wed Jun 14, 2017 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 6395

Re: Would you take a 25% pay cut for more professional satisfaction?

In my 20s, took a 70% pay cut for a more desirable job. The new path proved to be sufficiently lucrative. I would not have done it if I couldn't make it on the reduced salary.
by Minty
Sat May 13, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: recent widow needs help with life insurance payout options
Replies: 44
Views: 4217

Re: recent widow needs help with life insurance payout options

If you are thinking about Option 2, the creditworthiness of the insurance company becomes very important because you are essentially making them an unsecured loan. It might be reasonable if they are very sound. [Edit: Actually, apparently some of these retained assets accounts are covered by state i...
by Minty
Sat May 13, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: recent widow needs help with life insurance payout options
Replies: 44
Views: 4217

Re: recent widow needs help with life insurance payout options

I am sorry for your loss. Option 3 is the insurance company offering to sell you an annuity in exchange for your insurance proceeds. The question is how you want your portfolio to be invested and, if an annuity fits into your plan, whether this particular insurance company is offering the best rate-...
by Minty
Fri May 05, 2017 8:46 am
Forum: Investing - Help with Personal Investments
Topic: Pension vs 401k
Replies: 33
Views: 3851

Re: Pension vs 401k

One thing to consider is that if you have a vested DBP, it is possible to double-dip by collecting a full salary from new uni and a full retirement from the old place, as a number of my colleagues have done. I've faced the OP's dilemma three times. The first two I elected the DCP and waived the trad...
by Minty
Sun Apr 30, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Lowest hassle, highest return way to buy real estate in a far-away location for use as a hedge?
Replies: 16
Views: 2542

Re: Lowest hassle, highest return way to buy real estate in a far-away location for use as a hedge?

There's a saying in real estate: "Your equity is on the top, and you own it all the way to the bottom." If you predict real estate will outperform, buy REITs on margin. If you want to be leveraged, you can do that in securities. However, notwithstanding the temptation (which I share) I would not rec...
by Minty
Sun Apr 30, 2017 12:19 pm
Forum: Investing - Theory, News & General
Topic: So what's the theory behind this active vs Passive report
Replies: 15
Views: 1822

Re: So what's the theory behind this active vs Passive report

Before fees, active and passive for the general publically available stock market must give the same result, on average. This is just plain arithmetic. Don't get me wrong, my investments are completely indexed, but does this claim take into account such things as securities lending, leverage, curre...
by Minty
Sun Apr 30, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: What to ask when refinancing mortgage
Replies: 8
Views: 1012

Re: What to ask when refinancing mortgage

I refinanced last Fall. The original lender gave us a quote for recasting, but they were not competitive with the on-line rates. If you are interested in simply paying the smallest amount of money, check out on-line lenders as well.
by Minty
Sat Apr 15, 2017 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: New home expenses versus a high (overly-high?) savings & investment rate
Replies: 20
Views: 3279

Re: New home expenses versus a high (overly-high?) savings & investment rate

I would be concerned if the soil next to the foundation was continuously wet. That is a problem I would solve before saving for retirement.
by Minty
Sun Apr 09, 2017 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Require Access to School Records?
Replies: 113
Views: 8358

Re: Require Access to School Records?

I am reassured that my child has not flunked out because I keep getting tuition bills, and Ms. Minty and I try to keep in the loop on planned majors etc. We are always available for advice. But the reality is that college kids are adults. They should be responsible for themselves. I think it is bene...
by Minty
Sat Apr 08, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: How to get out of ACA limbo situation?
Replies: 12
Views: 1686

Re: How to get out of ACA limbo situation?

I'd call my state senator or representative's office. It helped with a different sort of bureaucratic delay.
by Minty
Tue Apr 04, 2017 11:51 pm
Forum: Personal Consumer Issues
Topic: Buying House with Odor (not cigarette)
Replies: 36
Views: 3614

Re: Buying House with Odor (not cigarette)

Mold. Run.
by Minty
Mon Feb 06, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement offer
Replies: 9
Views: 2618

Re: Early retirement offer

I'd consider negotiating for (at least asking about) Emerita status, continued office space, library access, paid part-time teaching if she wants it. Some uni's prohibit rehire or recall within a certain period.
by Minty
Fri Jan 20, 2017 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Should we pay off our student loan?
Replies: 44
Views: 4547

Re: Should we pay off our student loan?

Are you putting enough in the 401(k) to get the full match?
by Minty
Tue Jan 17, 2017 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Just sold my home and looking to invest proceeds
Replies: 17
Views: 1795

Re: Just sold my home and looking to invest proceeds

The interest rate on the ARM is so low that putting $300K in a three fund portfolio would not be crazy--it might well work out fine. But as others have said, you would in effect be borrowing to invest. If it were me though, given the seven year fuse on the mortgage, I would just pay it down.
by Minty
Tue Jan 17, 2017 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Just sold my home and looking to invest proceeds
Replies: 17
Views: 1795

Re: Just sold my home and looking to invest proceeds

OP, how much equity do you have in the home and what is your income? That would make a difference to me.
by Minty
Mon Jan 16, 2017 5:39 pm
Forum: Investing - Theory, News & General
Topic: Selling Old Coins?
Replies: 20
Views: 2427

Re: Selling Old Coins?

The market for collectible coins is driven by rarity and condition. I would look at a price guide (e.g. http://www.pcgs.com/prices/ ) to determine which (if any) of the individual coins might be valuable. If a coin is valuable, it might be worth it to get it graded (the three big services are ANACS,...
by Minty
Sun Jan 08, 2017 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: Lump Sum Investing
Replies: 13
Views: 1557

Re: Lump Sum Investing

I have transferred approximately $90K into Vanguard's money market account (Roth) from another broker and am now going to buy "Admiral" index fund shares. I would like to do this before I file taxes so it doesn't count towards 2017 annual Roth max. If the money is already in a Roth, then exchanges ...
by Minty
Sun Jan 08, 2017 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: FL prepaid plan(4-Year Florida University Plan)
Replies: 22
Views: 4370

Re: FL prepaid plan(4-Year Florida University Plan)

I might do this if there were more than one child in the family who could be a potential beneficiary. But if there is only one kid involved, the chances of not using the benefit for some reason would strike me as too high to make it worthwhile.
by Minty
Sun Jan 08, 2017 1:50 pm
Forum: Personal Consumer Issues
Topic: Best Ways to Buy Time
Replies: 68
Views: 9033

Re: Best Ways to Buy Time

FWIW, there is a Fatwallet thread on this. https://www.fatwallet.com/forums/finance/890849
by Minty
Sat Jan 07, 2017 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: College application time coming soon. Can you recommend an SAT/ACT prep course? Or have other ideas?
Replies: 36
Views: 2524

Re: College application time coming soon. Can you recommend an SAT/ACT prep course? Or have other ideas?

Our daughter, a good student and test-taker, used Revolution Prep, and her scores moved up substantially (ten percentile points). I also found College Confidential very helpful. Finally, to really look under the hood of a college or university, you can read online the Common Data Set for that instit...
by Minty
Mon Jan 02, 2017 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: The DIY-529 - seeking feedback
Replies: 18
Views: 1682

Re: The DIY-529 - seeking feedback

CHILD’S AGE: 10-15 (Tapering stage) SAVINGS VEHICLE: Supplement the above techniques by purchasing Treasury Notes or T-Bills in the child’s name and have them pay annual taxes on the interest. (Sure, this is now money in the child’s name, but it is all going towards college anyway, right?). TAX MIT...
by Minty
Mon Jan 02, 2017 2:13 am
Forum: Personal Finance (Not Investing)
Topic: Thinking of upgrading primary residence, do you recommend?
Replies: 29
Views: 2746

Re: Thinking of upgrading primary residence, do you recommend?

I've heard a saying about real estate: "your equity is at the top, and you own it all the way to the bottom." This could work out fine, or it could take up a healthy share of your net worth. I would not do it, but the question is whether you want to take on more risk, and shift from savings to consu...
by Minty
Mon Jan 02, 2017 2:04 am
Forum: Investing - Theory, News & General
Topic: 2017 hedge fund contest
Replies: 247
Views: 40584

Re: 2017 hedge fund contest

Name: Uno Simian

Long: SCOR, CMTL, CAG

Short: MXL, MXWL, MBFI
by Minty
Thu Dec 29, 2016 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: How much for TLI with major unknown expenses?
Replies: 5
Views: 789

Re: How much for TLI with major unknown expenses?

Minty, do you mean taking out two policies at the same time? Maybe one for 20 and another for 30? How would you recommend splitting up the total sum of the insurance? Do you have any guidance on the margin of error? It seems that 1 M is a number most people go with for the main bread winner. An add...
by Minty
Wed Dec 28, 2016 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: How much for TLI with major unknown expenses?
Replies: 5
Views: 789

Re: How much for TLI with major unknown expenses?

My suggestion is to factor in increases in income and expenses. You need a little margin of error, and it is not always easy to increase coverage down the road if health issues come up. I might do two policies, one until your kid is 21 or 25, and one that goes until you are 65 or so. And you need in...
by Minty
Sat Dec 24, 2016 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Bought a house for 560k in 2007
Replies: 73
Views: 10973

Re: Bought a house for 560k in 2007

bubbadog wrote:Sell the house, take your loss, and move on.
+1.
by Minty
Thu Dec 22, 2016 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Got an unexpected tax collections notice...
Replies: 24
Views: 4599

Re: Got an unexpected tax collections notice...

That's ridiculous. There are probably lots of others in your situation. I'd call my state legislator, also maybe a paper or local TV station if they have one of those "consumer protection" features. A lawsuit might not get their attention, but negative publicity might.
by Minty
Tue Dec 20, 2016 6:08 pm
Forum: Investing - Help with Personal Investments
Topic: Borrow money to invest?
Replies: 33
Views: 3224

Re: Borrow money to invest?

It is not either or. You can pay down mortgage and invest. True, but a person can't use the same dollar to do both. So is it correct that if you have a mortgage, yet invest before or after tax, you are effectively borrowing to invest? And IIRC, investment interest is deductible, so OP's net cost wi...
by Minty
Tue Dec 20, 2016 5:46 pm
Forum: Investing - Help with Personal Investments
Topic: Borrow money to invest?
Replies: 33
Views: 3224

Re: Borrow money to invest?

But isn't this economically similar to the question of whether one should pay down a mortgage or invest in the market? I and many others make after-tax investments rather than reduce a 4%+- mortgage. I am essentially borrowing to invest, right? OP has access to very, very cheap money. OTOH, there ha...
by Minty
Wed Dec 14, 2016 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: [55% of households have Zero Credit Card Debt]
Replies: 30
Views: 3660

Re: US households (indebted) average $16k credit card debt!!!

I took advantage of the 12-month 0% cash advance offers from CC companies repeatedly in the early 80s to invest and that helped me build wealth. My accumulated balance was as high as $100-$150K but I always paid off each CC balance at the end of the term so never got stuck with high interest penalt...
by Minty
Tue Dec 06, 2016 3:10 pm
Forum: Personal Consumer Issues
Topic: Physical security solution for basement door?
Replies: 19
Views: 3359

Re: Physical security solution for basement door?

I think it depends on the nature of the existing door, lock, and doorframe. Maybe it is good enough as it is, but if not, the solution it depends on the particular vulnerabilities. OTOH, the security door would likely work.
by Minty
Mon Nov 28, 2016 11:01 am
Forum: Personal Consumer Issues
Topic: what to do with a giant popcorn container
Replies: 19
Views: 1870

Re: what to do with a giant popcorn container

Umbrella stand in the garage?
by Minty
Mon Oct 03, 2016 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Should I refinance our mortgage and a few other questions ...
Replies: 13
Views: 1393

Re: Should I refinance our mortgage and a few other questions ...

I refinanced $417K last month for 3.00 on a 20 year, paying $1500 for an appraisal and title search/insurance and no other fees. I recommend shopping around, including looking online.
by Minty
Tue Sep 27, 2016 10:52 pm
Forum: Personal Consumer Issues
Topic: What kind of car do Bogleheads like to drive?
Replies: 168
Views: 17139

Re: What kind of car do Bogleheads like to drive?

Me: 1995 Honda Accord.
Spouse: 2014 Honda CRV, replacing a 2003 CRV that passed before its time.
by Minty
Mon Sep 19, 2016 10:34 am
Forum: Personal Consumer Issues
Topic: Popping Gas Water Heater
Replies: 17
Views: 2266

Re: Popping Gas Water Heater

Got a new hot water heater recently. The installer suggested draining the whole thing every year, but the instruction manual itself says to bleed off a bucket every month. Anybody do the latter?
by Minty
Sat Sep 17, 2016 1:54 am
Forum: Personal Finance (Not Investing)
Topic: Lending money to son
Replies: 21
Views: 2762

Re: Lending money to son

I'd have the conversation now, but follow through on any commitments I'd already made.
by Minty
Fri Sep 16, 2016 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 5564

Re: Questions for Insurance Salesman on Whole Life Policy

$400 a year in a 529 for the children is likely to improve their lives. Life insurance for children who do not need it is, at best, a waste. At worst, if they keep the policies as adults, it will teach them to do the wrong things in the future.
by Minty
Thu Sep 08, 2016 9:43 pm
Forum: Investing - Help with Personal Investments
Topic: Is my financial adviser expensive? Can I improve my portfolio?
Replies: 37
Views: 5136

Re: Is my financial adviser expensive? Can I improve my portfolio?

If advisers knew anything that was not common knowledge, it might be worth paying them. There is absolutely no evidence that they have more information than is in this website.
by Minty
Wed Sep 07, 2016 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Too much life insurance?
Replies: 99
Views: 6895

Re: Too much life insurance?

If I had it to do over again, I'd buy level term. Also, I'd have bought more. With two young kids and a six figure income, 2M on one parent does not seem excessive at all.
by Minty
Tue Sep 06, 2016 12:47 am
Forum: Personal Finance (Not Investing)
Topic: Additional Sources of Income
Replies: 12
Views: 2752

Re: Additional Sources of Income

If I had that feeling, and weekends off, I'd learn the real estate business, by getting a sales license and/or working for a property manager.
by Minty
Sun Sep 04, 2016 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Help with potential lawsuit
Replies: 32
Views: 3927

Re: Help with potential lawsuit

One way to take the temperature of this situation is to figure out if the other driver merely filed a claim or has actually retained a lawyer to pursue a lawsuit. The latter is more serious, of course. I like anonyvestor's advice, but it is costly.
by Minty
Sat Sep 03, 2016 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to decide among refi providers and offers?
Replies: 12
Views: 1210

Re: How to decide among refi providers and offers?

I shopped on Zillow and Lending Tree (at the cost of ceaseless phone calls and emails, which are still coming.) But the rates quoted were much less than the brick-and-mortar options (and a friend from our house of worship who is a mortgage broker, looked at the deal, said it looked legit, but he cou...
by Minty
Tue Aug 30, 2016 1:11 pm
Forum: Personal Consumer Issues
Topic: Thank you gift for someone with everything
Replies: 29
Views: 3450

Re: Thank you gift for someone with everything

In the movie Six Degrees of Separation, Trent said "When rich people do something nice for you, you give 'em a pot of jam." That always seemed wise to me.
by Minty
Sun Aug 21, 2016 12:45 am
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 8924

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

You worry about "how much I'd be losing out by not going all in." We all lose a lot every day by not buying the right puts and calls, using margin and selling short tomorrow's biggest movers. But I do not consider risky foregone investments as losses, they are choices, and I choose to invest in inde...
by Minty
Sat Aug 20, 2016 11:05 pm
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 8924

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

I've prosecuted and defended a number of criminal cases (and one or two civil ones) along these lines; it seems people claim to have access to equipment leases, auctioned cars, secured notes, investment properties and other items that can't lose. Although this investor could be legitimate, I wouldn'...