Search found 7630 matches

by michaeljc70
Sat Apr 17, 2021 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy cliff now going away! Yay!
Replies: 160
Views: 17843

Re: ACA subsidy cliff now going away! Yay!

Since I have little idea what our income will be this year (spouse unemployed, my income can be controlled via investments/withdrawals) I thought I would jump start the increase in premium tax credit (due to being unemployed in 2021) by updating our income. The federal poverty level is ~$17k for two...
by michaeljc70
Fri Apr 16, 2021 8:57 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 206
Views: 134878

Re: Banned from Home Depot Returns

I don't think that is true anymore. Last time I made a return (purchased with a gift card with a receipt) and got a store credit they wrote my name on the card in permanent marker and I was required to show an ID to use it the next time. I was somewhat peeved as I had a receipt when I made the retu...
by michaeljc70
Wed Apr 14, 2021 10:24 am
Forum: Personal Consumer Issues
Topic: mortgage application for my widowed mother
Replies: 6
Views: 449

Re: mortgage application for my widowed mother

I'd pick the lender based on the rate and terms (fees). I've found big banks are usually not competitive unless you are getting some kind of relationship discount. Some lenders really nickel and dime you on fees. I'd start with a site like Bankrate where you can see a lot of rates at one time and co...
by michaeljc70
Wed Apr 14, 2021 8:18 am
Forum: Personal Finance (Not Investing)
Topic: HSA advice Jane Quinn How to Make Your Money Last
Replies: 62
Views: 5697

Re: HSA advice Jane Quinn How to Make Your Money Last

Also, if this author Jane Quinn is this far off from understanding all of the "perks" of an HSA, is the rest of her book worth reading? I will stand up for Jane Bryant Quinn and “How to make your money last”: 1. This is just an update, not a new book. It is clear that she did not update t...
by michaeljc70
Tue Apr 13, 2021 6:28 pm
Forum: Personal Consumer Issues
Topic: Did you move for better weather? Did you regret it?
Replies: 172
Views: 17327

Re: Did you move for better weather? Did you regret it?

I have considered moving due to weather but haven't. Though I hate the very cold, long winters here I think I would regret leaving friends, family and an otherwise great city behind. That may change later or result in some kind of hybrid (snowbird) arrangement. I did exactly what you are proposing ...
by michaeljc70
Sun Apr 11, 2021 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

I've been on both sides of things like this, and in both cases the bill went to the person who owned the house at the time the cost was incurred, rather than the person who owned at the time the HOA voted on the assessment. - I moved into a place in spring, and in summer they had a special assessme...
by michaeljc70
Sun Apr 11, 2021 9:21 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

That’s what I am assuming. When you buy you have a realtor, a closing attorney, and title insurance. All with their hands out. SOMEONE messed up here. Unless OPs parents were told to expect an HOA assessment in the ballpark of $8000 in which case it’s on them, and it doesn’t sound like they were. T...
by michaeljc70
Sun Apr 11, 2021 9:21 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

That’s what I am assuming. When you buy you have a realtor, a closing attorney, and title insurance. All with their hands out. SOMEONE messed up here. Unless OPs parents were told to expect an HOA assessment in the ballpark of $8000 in which case it’s on them, and it doesn’t sound like they were. T...
by michaeljc70
Sat Apr 10, 2021 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Seems to me like you have to figure out how to prove if the sellers knew the $8000 special assessment was lurking out there. Seems like they disclosed the lawsuit and may have not known what was coming. In laws did not do their DD. Hard to imagine title insurance doing anything about this as it doe...
by michaeljc70
Sat Apr 10, 2021 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Seems to me like you have to figure out how to prove if the sellers knew the $8000 special assessment was lurking out there. Seems like they disclosed the lawsuit and may have not known what was coming. In laws did not do their DD. Hard to imagine title insurance doing anything about this as it doe...
by michaeljc70
Sat Apr 10, 2021 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Sorry to have taken the thread OT. FWIW, I made my choice about where to live. I'd avoid an HOA as much as possible, but if you live in a very urban environment there may be no SFHs. Also, some municipalities have nothing but homes in HOAs. It seems every new subdivision has something (fountain, li...
by michaeljc70
Sat Apr 10, 2021 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Even someone diligent about reading the HOA meeting minutes probably wouldn't have gone back to 2013 (or earlier) when it seems this started. However, that phrase in the listing about "litigation has been settled" should have raised a red flag for further exploration. There is a lot of tal...
by michaeljc70
Sat Apr 10, 2021 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

HOA is such a nonsense. Its a free country people! Why would you get Involved with HOA in the first place. Freedom is an illusion. There are countless laws and regulations that effect every moment of our lives. There are even rules that govern my response to you here. It appears the OP's in-laws mi...
by michaeljc70
Sat Apr 10, 2021 10:27 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Assuming this wasn’t disclosed, if title insurance isn’t good for this, I’m not sure what it’s good for. All of us have wasted hundreds of dollars or more on title insurance whenever we buy a house. It’s time someone filed an actual claim for the rest of us. Title insurance is a huge ripoff and thi...
by michaeljc70
Sat Apr 10, 2021 10:12 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

Assuming this wasn’t disclosed, if title insurance isn’t good for this, I’m not sure what it’s good for. All of us have wasted hundreds of dollars or more on title insurance whenever we buy a house. It’s time someone filed an actual claim for the rest of us. It's good for defects in the title which...
by michaeljc70
Sat Apr 10, 2021 10:09 am
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10534

Re: In-Laws' HOA demanding $8000 lumpsum payment

I would absolutely take this to the real estate agents. The buyer's agent was paid to protect the buyer's fiduciary interests, right?, Right? And the sellers agent should have overseen the disclosure, right? Condo settlements are pretty bread and butter, so both of those agents should have known to...
by michaeljc70
Sat Apr 10, 2021 9:55 am
Forum: Personal Finance (Not Investing)
Topic: HOA rules - limit number of rentals?
Replies: 39
Views: 3144

Re: HOA rules - limit number of rentals?

Out of 34 townhomes we allow 4 to be rented at a time for a period no less than 1 year. Too many rentals is not good for property values in general. No flexibility in renting it out if you need to is also bad. I am not sure how it works if you want to rent your unit and the 4 are already rented.
by michaeljc70
Fri Apr 09, 2021 4:01 pm
Forum: Personal Consumer Issues
Topic: Bathroom remodel with no GC?
Replies: 15
Views: 2006

Re: Bathroom remodel with no GC?

My actual question is what you all think about not having a contractor manage the job. In my experience, not having a general contractor when it sounds like you are going to sub out much of the work if not all of it, means the project will probably take five times as long (if not longer) than it wo...
by michaeljc70
Wed Apr 07, 2021 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: CARES Act IRA Distribution/repayment - Tax Software
Replies: 13
Views: 810

Re: CARES Act IRA Distribution/repayment - Tax Software

I got the latest update from H&R today. However, it still doesn't work correctly. The issue is on the 8606 line 15b it says to put the amount attributable to disaster relief. The software is not doing that resulting in double taxation. It has 0 on that line. According to the 8606 directions for...
by michaeljc70
Wed Apr 07, 2021 2:37 pm
Forum: Personal Consumer Issues
Topic: The best $10,000 to $15,000 vehicle.
Replies: 42
Views: 3300

Re: The best $10,000 to $15,000 vehicle.

BRAND NEW PRIUS PRIME!!! I don’t drive expensive vehicles. I purchase used vehicles with low mileage and then drive them for at least 10 years. What are some good options for reliability and great gas mileage that you like? If you're in the right area for $5k Toyota rebates/cash on a Prius Prime, y...
by michaeljc70
Wed Apr 07, 2021 11:33 am
Forum: Personal Finance (Not Investing)
Topic: CARES Act IRA Distribution/repayment - Tax Software
Replies: 13
Views: 810

Re: CARES Act IRA Distribution/repayment - Tax Software

I got the latest update from H&R today. However, it still doesn't work correctly. The issue is on the 8606 line 15b it says to put the amount attributable to disaster relief. The software is not doing that resulting in double taxation. It has 0 on that line. According to the 8606 directions for ...
by michaeljc70
Wed Apr 07, 2021 10:50 am
Forum: Personal Consumer Issues
Topic: Thoughts on HOA Board Membership?
Replies: 31
Views: 2698

Re: Thoughts on HOA Board Membership?

Our HOA is considering doing an expensive project that will result in a special assessment. I don't think the project is necessary (mostly cosmetic and not needed on many units). I thought about joining the board to influence this decision. In the end, I decided I didn't want the hassle. Our board o...
by michaeljc70
Wed Apr 07, 2021 10:25 am
Forum: Personal Consumer Issues
Topic: Thoughts on HOA Board Membership?
Replies: 31
Views: 2698

Re: Thoughts on HOA Board Membership?

runner3081 wrote: Tue Apr 06, 2021 1:52 pm It is a miserable, thankless job, but I always stay involved because I don't trust other people, haha. Have been on HOA boards for 10+ years now.

We have insurance coverage for board members, I wouldn't do it otherwise.
Good summary.
by michaeljc70
Wed Apr 07, 2021 10:24 am
Forum: Personal Consumer Issues
Topic: The best $10,000 to $15,000 vehicle.
Replies: 42
Views: 3300

Re: The best $10,000 to $15,000 vehicle.

My brother bought a new Toyota Corolla about a year ago and it was under $20k. I just looked on Truecar and you can get a new one for $18k with no negotiation. I know this doesn't meet the OPs criteria. I am just pointing out that buying a couple year old Honda or Toyota may not save very much or be...
by michaeljc70
Wed Apr 07, 2021 9:04 am
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan Act & ACA APTC for 2020 1040
Replies: 35
Views: 3399

Re: American Rescue Plan Act & ACA APTC for 2020 1040

I am wondering where they (HRB) are getting that information from. I would think it would be public if it came from the IRS since not everyone uses TT/HRB. The only thing I can find on irs.gov pertaining to this is: We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed i...
by michaeljc70
Tue Apr 06, 2021 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan Act & ACA APTC for 2020 1040
Replies: 35
Views: 3399

Re: American Rescue Plan Act & ACA APTC for 2020 1040

On the IRS website it says you don't need to file an amended return if you paid back ACA PTC. Fine. What if you haven't filed yet? Do I have to send a check for ~$5k only to wait to get it back later? I will owe an underpayment penalty so I'd rather not wait until May 17th to file. HRB updated thei...
by michaeljc70
Tue Apr 06, 2021 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan Act & ACA APTC for 2020 1040
Replies: 35
Views: 3399

Re: American Rescue Plan Act & ACA APTC for 2020 1040

On the IRS website it says you don't need to file an amended return if you paid back ACA PTC. Fine. What if you haven't filed yet? Do I have to send a check for ~$5k only to wait to get it back later? I will owe an underpayment penalty so I'd rather not wait until May 17th to file.
by michaeljc70
Tue Apr 06, 2021 10:02 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy cliff now going away! Yay!
Replies: 160
Views: 17843

Re: Is anyone signing up for ACA plan due to changes from ARPA?

Yes, we have a new plan as of 4/1. Unfortunately, some of the ACA changes in the ARPA aren't implemented yet. If you are unemployed (or were in 2021) you are eligible for cost sharing reductions (on certain plans) and potentially a much bigger subsidy. So, while we switched plans (allowing switching...
by michaeljc70
Sun Apr 04, 2021 11:03 am
Forum: Personal Consumer Issues
Topic: Oil change interval for low-mileage vehicles
Replies: 172
Views: 22757

Re: Oil change interval for low-mileage vehicles

For those that say follow the manual 1) some manuals give differing advice depending on climate, your driving is city/highway (which many people have both), if you live in a dusty area, etc. and 2) dealers obviously make money off services so I treat that with a grain of salt. I drive around 5k mile...
by michaeljc70
Sat Apr 03, 2021 10:20 pm
Forum: Investing - Theory, News & General
Topic: In what condition, will international significantly overperform US?
Replies: 170
Views: 12530

Re: In what condition, will international significantly overperform US?

Funny how no one seems to ask why should I have bonds since US stocks significantly outperform bonds. Certainly bonds have under performed international stocks but you don't hear about people getting rid of them due to under performance very much. Of course, I understand the correlation between US s...
by michaeljc70
Fri Apr 02, 2021 7:36 pm
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29685

Re: 4% rule disputed (Again??!!)

Seems there's a cult-like subculture on Bogleheads insisting 4% SWR is too high. Seems to reflect the inherent conservatism of Bogleheads rather than any empirical studies. What empirical studies have been done to demonstrate that 4% has a statistically significant success rate with starting intere...
by michaeljc70
Fri Apr 02, 2021 7:06 pm
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29685

Re: 4% rule disputed (Again??!!)

Seems there's a cult-like subculture on Bogleheads insisting 4% SWR is too high. Seems to reflect the inherent conservatism of Bogleheads rather than any empirical studies. What empirical studies have been done to demonstrate that 4% has a statistically significant success rate with starting intere...
by michaeljc70
Fri Apr 02, 2021 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9197

Re: Do you trust the current value of your portfolio?

Don’t retire until your assets are sufficient with a conservative asset allocation. If your retirement is “feasible” only under some generous growth assumptions and and aggressive AA, then it’s not really feasible in a trustworthy manner. I decided for me that a 40/60 portfolio AT RETIREMENT will d...
by michaeljc70
Fri Apr 02, 2021 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9197

Re: Do you trust the current value of your portfolio?

Don’t retire until your assets are sufficient with a conservative asset allocation. If your retirement is “feasible” only under some generous growth assumptions and and aggressive AA, then it’s not really feasible in a trustworthy manner. I decided for me that a 40/60 portfolio AT RETIREMENT will d...
by michaeljc70
Fri Apr 02, 2021 8:44 am
Forum: Personal Consumer Issues
Topic: Non ACA individual medical insurance?
Replies: 8
Views: 745

Re: Non ACA individual medical insurance?

In the big city I live in, there are virtually no plans different than the ACA plans except short-term/catastrophic plans. You can buy the plans off the exchange, but they are the same price and same plan. I believe the reason is the exchange plans qualify a lot of people for subsidies so why put pl...
by michaeljc70
Fri Apr 02, 2021 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9197

Re: Do you trust the current value of your portfolio?

My perspective: 1) I am choosing to use a 3% WR for planning purposes at a 60/40 allocation. 2) I want 3 years of expenses in cash at the time of retirement. 3) My retirement plans do not contemplate or rely on receiving SS. This is unnecessarily conservative, so I don't feel the need to also hairc...
by michaeljc70
Fri Apr 02, 2021 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9197

Re: Do you trust the current value of your portfolio?

Don’t retire until your assets are sufficient with a conservative asset allocation. If your retirement is “feasible” only under some generous growth assumptions and and aggressive AA, then it’s not really feasible in a trustworthy manner. I decided for me that a 40/60 portfolio AT RETIREMENT will d...
by michaeljc70
Fri Apr 02, 2021 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9197

Re: Do you trust the current value of your portfolio?

Not really. You should be able to withstand a big decline in retirement regardless of if you think the market is "high" or "low". If you could really accurately determine if the market was "high" or "low" you'd probably have so much money you wouldn't have to ...
by michaeljc70
Thu Apr 01, 2021 6:54 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy cliff now going away! Yay!
Replies: 160
Views: 17843

Re: ACA subsidy cliff now going away! Yay!

But maybe only if you bought thru the marketplace originally? Many buy directly from a provider if they don't qualify for subsidies anyway. However, if they open enrollment now, they could immediately switch over... Premium tax credits can be calculated monthly, but only apply to policies bought th...
by michaeljc70
Wed Mar 31, 2021 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone sold a home to Zillow?
Replies: 32
Views: 6294

Re: Has anyone sold a home to Zillow?

I just wanted to bump this thread to see if anyone has had more recent experiences with Zillow offers. I just requested an offer from Zillow. The process is: 1) You give them information about your home, 5-10mins perhaps 2) They create an initial offer, which will then be reduced by repairs/work ne...
by michaeljc70
Tue Mar 30, 2021 3:56 pm
Forum: Investing - Theory, News & General
Topic: Include ACA Income Limit in i-ORP or Not?
Replies: 47
Views: 2604

Re: Include ACA Income Limit in i-ORP or Not?

Can you explain how tax rates during accumulation has any impact in whether Roth Conversion is beneficial? My understanding is that only the marginal rate during conversion vs. marginal rate at withdrawal make a difference. The rate paid during accumulation is water under the bridge, and has no bea...
by michaeljc70
Tue Mar 30, 2021 1:05 pm
Forum: Investing - Theory, News & General
Topic: Include ACA Income Limit in i-ORP or Not?
Replies: 47
Views: 2604

Re: Include ACA Income Limit in i-ORP or Not?

" Really few benefit that much from Roth conversions. " Who benefits the most and who benefits the least? And for those who do benefit, what's the most efficient way, and when, to do the conversions? "Who benefits the most?" Generally these items will cause Roth conversions to b...
by michaeljc70
Tue Mar 30, 2021 11:59 am
Forum: Investing - Theory, News & General
Topic: Include ACA Income Limit in i-ORP or Not?
Replies: 47
Views: 2604

Re: Include ACA Income Limit in i-ORP or Not?

" Really few benefit that much from Roth conversions. " Who benefits the most and who benefits the least? And for those who do benefit, what's the most efficient way, and when, to do the conversions? "Who benefits the most?" Generally these items will cause Roth conversions to b...
by michaeljc70
Tue Mar 30, 2021 11:55 am
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 255
Views: 25203

Re: High spenders what do you spend on?

Bigger/better/more houses, vacations, help, cars, food, liquor, hobbies, etc. It doesn't take much looking to see the difference in a coach ticket, business class ticket and flying private. Same for a Toyota Corolla and a Bentley. Just at Costco I can see wines from $4/750 ml to $200/750ml. On all t...
by michaeljc70
Tue Mar 30, 2021 10:16 am
Forum: Personal Consumer Issues
Topic: Cost for COVID test for travel
Replies: 19
Views: 1638

Re: Cost for COVID test for travel

Could be free in some states / locales. Free drive-up testing where I live. Results in less than 24 hours if my spouse's experience is any indication. Agree, but it depends how it is coded for the insurance. In our case, for travel does not equal medical necessity apparently. Will look into the hom...
by michaeljc70
Mon Mar 29, 2021 7:36 pm
Forum: Personal Consumer Issues
Topic: Tesla for people that keep cars a long time
Replies: 147
Views: 11235

Re: Tesla for people that keep cars a long time

there could be quite the demand to purchase this asset that generates $30k+/year profit I don't think completely automated driving (like a taxi) in all places/conditions is coming in the next 10 years. Totally agree there will be some situations that will make general robotaxis more difficult, e.g....
by michaeljc70
Mon Mar 29, 2021 5:24 pm
Forum: Personal Consumer Issues
Topic: Tesla for people that keep cars a long time
Replies: 147
Views: 11235

Re: Tesla for people that keep cars a long time

On the other hand, most cars after 10-12 years aren't worth very much period so maybe this shouldn't even be a concern. If Tesla is able to get robotaxis working with the car you could buy today through a software update, there could be quite the demand to purchase this asset that generates $30k+/y...
by michaeljc70
Mon Mar 29, 2021 3:12 pm
Forum: Investing - Theory, News & General
Topic: Include ACA Income Limit in i-ORP or Not?
Replies: 47
Views: 2604

Re: Include ACA Income Limit in i-ORP or Not?

I'm 50 and retired, spouse still works part time. We get an ACA subsidy. I haven't found i-ORP (regular or extended) that useful for my situation. I've experienced what you said where it aggressively uses tax deferred accounts. Also, with 1 spouse working, limits on withdrawals (tIRA/Roth) it doesn'...
by michaeljc70
Mon Mar 29, 2021 2:44 pm
Forum: Personal Consumer Issues
Topic: People with Covid-19 vaccination record cards: where are you keeping them?
Replies: 163
Views: 13969

Re: People with Covid-19 vaccination record cards: where are you keeping them?

If Krispy Kreme accepts my vaccine card I cannot imagine why a foreign country wouldn't :shock:. Do you think the US would accept a flimsy hand-written piece of paper as proof of anything from foreigners? 1) What I said was in jest. Sorry, my jest sensor has been malfunctioning in recent days. I wi...
by michaeljc70
Mon Mar 29, 2021 2:35 pm
Forum: Personal Consumer Issues
Topic: People with Covid-19 vaccination record cards: where are you keeping them?
Replies: 163
Views: 13969

Re: People with Covid-19 vaccination record cards: where are you keeping them?

This initiative for a digital verifiable vaccination record looks promising: I wouldn't wait for it. Where are we with the contract tracing app? I'm hoping or expecting that by the time these technologies come online, it will be a moot. Hawaii is probably the furthest along using testing and record...