Search found 528 matches

by betterfinances
Wed Mar 16, 2016 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: At fault fender bender, paying out of pocket
Replies: 29
Views: 6406

Re: At fault fender bender, paying out of pocket

Pay out of pocket is what I would do in this case. Your insurance premiums would just go up for a period of time to cover the 920 dollar repair. The sky is falling others have brought up the other car owner coming back in six months with a claim of whiplash. Jeezz, you can pretty much sneeze on a c...
by betterfinances
Wed Mar 16, 2016 10:15 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

Thanks all.

As you can see, there is a lot of controversy surrounding this subject. I'll give it careful consideration in preparation for next year.
by betterfinances
Wed Mar 16, 2016 10:13 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

Downside is that schools use peer pressure to try to increase sales. For example, if everbody in the class sells at least 5 chocolate easter bunnies, then the whole class gets an ice cream party. If my kid is the only one not to sell 5 chocolate easter bunnies, then the whole class suffers, even if...
by betterfinances
Tue Mar 15, 2016 10:03 pm
Forum: Personal Consumer Issues
Topic: Well...Identity theft...
Replies: 29
Views: 4538

Re: Well...Identity theft...

That's scary. There is part of the portal that shows your lifetime earnings, broken down by year. Someone can make a reasonable attempt to guess your net worth which could have very bad consequences.
by betterfinances
Tue Mar 15, 2016 10:00 pm
Forum: Personal Consumer Issues
Topic: How is my personal info leaking?
Replies: 28
Views: 6324

Re: How is my personal info leaking?

Can you post the link?

Seriously, this could be very bad.
by betterfinances
Tue Mar 15, 2016 9:27 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

Definitely do not let them participate. I once was asked to sell popcorn and raffle tickets as a cub scout and I am still trying to recover 30 years later. One guy even said "no thanks" when I knocked on the door. I strongly suggest you avoid letting your kids participate in any school ac...
by betterfinances
Tue Mar 15, 2016 7:41 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

Not being able to make home improvements, or having to respond to nuisance complaints because my neighbors are ticked seems like a financial consequence. Remember, I'm not asking if I should buy stuff from their kid. I'm asking if I should insist my kid knock on their door trying to sell to them! I...
by betterfinances
Tue Mar 15, 2016 6:50 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

These fundraisers are a part of the school experience and childhood these days. It's just the way things are. The best approach is to have your kid participate in the same manner as the other kids. Your kid would probably resent you if you try to buy a "pass" on the activity for him/her. ...
by betterfinances
Tue Mar 15, 2016 5:40 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Re: Should I have my kids participate in school fundraisers?

Due to work schedules, I'm the primary parent for my children while they are in public school. It's my decision to make, hence is why I'm looking into it.
by betterfinances
Tue Mar 15, 2016 5:30 pm
Forum: Personal Consumer Issues
Topic: Should I have my kids participate in school fundraisers?
Replies: 78
Views: 8207

Should I have my kids participate in school fundraisers?

I'm placing this in "personal consumer" because it impacts how we spend our money. As some of you know, I am financially well off. I am proud to support my families financial needs and do not require the support of others for my children to engage in activities. One of my kids will be in p...
by betterfinances
Tue Mar 15, 2016 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: At fault fender bender, paying out of pocket
Replies: 29
Views: 6406

Re: At fault fender bender, paying out of pocket

But what about a diminished value claim? The other party might decide to ask for a diminished value claim in addition to the $920. He has 3 years to ask for this, unless a notarized release is obtained. Once a car has been in an accident and the accident shows up on CARFAX, it's worth less. People p...
by betterfinances
Tue Mar 15, 2016 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: At fault fender bender, paying out of pocket
Replies: 29
Views: 6406

Re: At fault fender bender, paying out of pocket

Insurance would have been a more cost effective choice. One accident will not raise your rates much.The other guy may also claim diminished value which will be an additional expense
by betterfinances
Mon Mar 14, 2016 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

Is my understanding correct? They can afford an $800k mortgage but don't have a dime to put down? If that's the case, couldn't they just save for a few years and start out with their own money as a down payment? Rents are also astronomical here. It's very difficult to save up $200k for a down-payme...
by betterfinances
Mon Mar 14, 2016 8:47 am
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

BTW, Our Only, 25% marginal, wasn't funding his 401k and IRA, inorder to achieve the elusive 20%. He also had a headstart in this in that we purposely left a remainder in his UGMA. My point exactly. I am still puzzled by folks who think Joe and Jane can max out their retirement accounts (which is p...
by betterfinances
Mon Mar 14, 2016 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Are you saving for your children's wedding(s)?
Replies: 45
Views: 4407

Are you saving for your children's wedding(s)?

Are you saving for your children's wedding? Boys, girls, or both? How much? I am not saving for my children's weddings. If they want to throw a big party and blow a bunch of money for a one night event, they're certainly welcome to do so on their own dime. I'll probably toss a cursory amount ($1,000...
by betterfinances
Sun Mar 13, 2016 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on groceries?
Replies: 134
Views: 16875

Re: How much do you spend on groceries?

I have no idea.

For years, wife has shopped at variety stores (Wal-Mart, Fred Meyer, Costco, etc) and it is too time consuming to study each receipt and keep track of how much she spends on groceries versus other items.
by betterfinances
Sun Mar 13, 2016 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

Betterfinances, it's a cash-flow issue. As I noted, and as most Bogleheads would agree, prudence dictates saving in tax-deferred vehicles (401K, IRA, and the like). In addition, many "techies" are compensated with a modest salary, combined with generous stock options. After-tax savings ar...
by betterfinances
Sun Mar 13, 2016 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

Is my understanding correct? They can afford an $800k mortgage but don't have a dime to put down? If that's the case, couldn't they just save for a few years and start out with their own money as a down payment? Were it that simple. As I noted above, many (prudent) two-income families direct saving...
by betterfinances
Sun Mar 13, 2016 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

When our son got married, we gave him and his new wife money for the down payment on a house but we made both of them sign an agreement that states that if they would stay married and remain in the house for five years, the money would be theirs, otherwise each of them would owe us 1/2 of the amoun...
by betterfinances
Sun Mar 13, 2016 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

I can't speak to the problems of a divorce, the grandchild, etc. I would try to avoid the situation where the daughter-in-law gets half of the money in the event of a divorce, assuming this can be done without causing a problem now within the family. If you're giving money to a married couple, it b...
by betterfinances
Sun Mar 13, 2016 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: How can I help my little kids earn a little money?
Replies: 11
Views: 1799

How can I help my little kids earn a little money?

I'd like to help my kids learn a little about money, and would like to help them make a little money. My kids bank accounts pay about 5% interest (up to mid-three figure account balance) and I'd like to help them increase the balance. What are some ways that I can help my kids with this? Obviously, ...
by betterfinances
Sun Mar 13, 2016 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

But given that there is a grandchild involved, I'd try very hard to think of it benefiting the child rather than the parent. However, that is only a calculation that you can make. I just want to say that this concept (benefit the grandchild rather than the child) can be very annoying to the child. ...
by betterfinances
Sun Mar 13, 2016 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

I can't speak to the problems of a divorce, the grandchild, etc. I would try to avoid the situation where the daughter-in-law gets half of the money in the event of a divorce, assuming this can be done without causing a problem now within the family. If you're giving money to a married couple, it b...
by betterfinances
Sun Mar 13, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: For Parents Who Have Given a Child Money For Home Down Payment
Replies: 158
Views: 18309

Re: For Parents Who Have Given a Child Money For Home Down Payment

But given that there is a grandchild involved, I'd try very hard to think of it benefiting the child rather than the parent. However, that is only a calculation that you can make. I just want to say that this concept (benefit the grandchild rather than the child) can be very annoying to the child. ...
by betterfinances
Sun Mar 13, 2016 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How variable is your total income (5 year history)?
Replies: 30
Views: 4022

How variable is your total income (5 year history)?

How variable is your total income, according to your IRS filings? Mine is quite variable. I work in sales and depending on whether I have a good year or not makes a big difference in my paycheck. I also do consulting work and of course capital gains and dividends also play into this. If we set 2011 ...
by betterfinances
Sun Mar 13, 2016 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax - started with Premier but don't know I needed it?
Replies: 11
Views: 2347

Re: TurboTax - started with Premier but don't know I needed it?

I've only used the software application online, I've never purchased the box. Anyways I guess I'll just go with Premier this year. I found I can click the "clear data and start over" and that will allow me to use Deluxe, but it does not appear that Deluxe will auto import my investment act...
by betterfinances
Sun Mar 13, 2016 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax - started with Premier but don't know I needed it?
Replies: 11
Views: 2347

TurboTax - started with Premier but don't know I needed it?

OK Bogleheads, This is one of my first years that I have actually had to pay for tax software and want to minimize the cost of doing my taxes. I used TurboTax and started with TurboTax Premier, since that was used last year. However, my tax situation is more simple this year and I do not know that I...
by betterfinances
Sun Mar 13, 2016 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Standard Sales Tax Deduction is Miserly -- here's my way
Replies: 27
Views: 4763

Re: Standard Sales Tax Deduction is Miserly -- here's my way

I wonder how your method would be treated by a tax auditor if one were to get audited?
by betterfinances
Sun Mar 13, 2016 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: small car accident - when is it ok to not file a police report?
Replies: 27
Views: 3876

Re: small car accident - when is it ok to not file a police report?

I've been in a number of accidents, all but 1 not my fault. If there is damage, I call the police. I'm not good at estimating whether the damage is above or below $300. Recently I was rear ended at a stoplight. No damage to bumper. We exchanged insurance information but I did not file a claim as the...
by betterfinances
Sat Mar 12, 2016 8:50 pm
Forum: Personal Investments
Topic: Should I sell my Altria (tobacco) shares?
Replies: 21
Views: 4084

Should I sell my Altria (tobacco) shares?

I bought Altria in October 2013. Two and a half years later, my shares have about doubled in value. I'm tempted to sell it and keep the gains rather than wait for it to go back down. What do you think? I'm also not sure how keen I am on holding tobacco stocks in the first place. For diversity, I als...
by betterfinances
Sat Mar 12, 2016 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Use 529 funds for school now or later?
Replies: 11
Views: 1241

Re: Use 529 funds for school now or later?

I would pull out as much as possible freshman year since non-qualified withdrawals are subject to tax and penalty. If she drops out, gets scholarship, or transfers to cheaper school, you might be end up with non qualified withdrawald.
by betterfinances
Sat Mar 12, 2016 12:09 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 funds for school now or later?
Replies: 11
Views: 1241

Re: Use 529 funds for school now or later?

I don't think 529 money can be used for elementary or secondary school.
by betterfinances
Sat Mar 12, 2016 12:08 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 funds for school now or later?
Replies: 11
Views: 1241

Re: Use 529 funds for school now or later?

If the best place to invest is in your 401(k) (because you aren't maxing it out now but expect to max it out in the future), then it's better to pay from the 529, as you effectively move money from the 529 to the 401(k). This is classic Boglehead advice - save (potentially oversave) for your own re...
by betterfinances
Fri Mar 11, 2016 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for person with false "Alcoholic" diagnosis
Replies: 100
Views: 13572

Re: Life Insurance for person with false "Alcoholic" diagnosis

I strongly suggest people read their medical records. They will find a lot of errors. In Frank's case, if there is an error, it just made him uninsurable. You can't say that an error in Frank's file made him uninsurance. For example, if the mistake was "alcoholic" and should have been &qu...
by betterfinances
Fri Mar 11, 2016 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Convert Rollover IRA to Roth IRA?
Replies: 9
Views: 1117

Re: Convert Rollover IRA to Roth IRA?

I've been told by people that are much more senior that me (i.e., retired folks) and who have saved well, that the Roth IRA would have been a good option. I don't know their asset levels, how much income tax they pay, or other details, but just know they nod their head when I mention Roth IRA. Maybe...
by betterfinances
Fri Mar 11, 2016 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for person with false "Alcoholic" diagnosis
Replies: 100
Views: 13572

Re: Life Insurance for person with false "Alcoholic" diagnosis

I really don't care much for threads when the OP isn't writing about themselves but about some third party. You don't know how much of the OP's story is accurate, nor how much the person that is being written about has withheld from the OP. Oftentimes in Bogleheads good "friends" seem to k...
by betterfinances
Fri Mar 11, 2016 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Convert Rollover IRA to Roth IRA?
Replies: 9
Views: 1117

Re: Convert Rollover IRA to Roth IRA?

Yes, I currently live in a state with no income tax but will eventually move to a state with an income tax, so there is a benefit there to converting today. We're not supposed to speculate about future Congressional acts on here, but I don't think it is reasonable for me to say that tax rates will s...
by betterfinances
Fri Mar 11, 2016 10:46 am
Forum: Personal Consumer Issues
Topic: Liability of hiring guys standing front of home improvement stores
Replies: 32
Views: 12743

Liability of hiring guys standing front of home improvement stores

I am interested in hiring home depot or similar workers (not store employees but the guys that stand around outside the store looking to get hired for day labor) to stain my fence. It's a big project and not one that I feel I can accomplish on my own. What kind of financial liability would I assume ...
by betterfinances
Fri Mar 11, 2016 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Convert Rollover IRA to Roth IRA?
Replies: 9
Views: 1117

Re: Convert Rollover IRA to Roth IRA?

Plusses - never pay tax again (unless tax laws change), eliminate the Rollover IRA account (I have a lot of retirement accounts and simplification is nice). It might help us if you could list what all those retirement accounts are? JW Investment Retirement Accounts Me: 401k Roth IRA Spouse: Old 401...
by betterfinances
Fri Mar 11, 2016 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Bankruptcy of Assisted Living Co
Replies: 3
Views: 974

Re: Bankruptcy of Assisted Living Co

How did you pay the $7k? If paid with credit card, you might be able to have them reverse the charges.
by betterfinances
Thu Mar 10, 2016 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Convert Rollover IRA to Roth IRA?
Replies: 9
Views: 1117

Convert Rollover IRA to Roth IRA?

I just "discovered" about $50,000 in a Rollover IRA...how it got there is not a concern to this thread, let's just say that it arrived legally and does not involve conflict diamonds. Anyways, I'm debating whether to do a conversion and convert the Rollover IRA into a Roth IRA. I'm in the 2...
by betterfinances
Thu Mar 10, 2016 10:56 am
Forum: Personal Consumer Issues
Topic: Issue with cutting an agent out of a real estate deal?
Replies: 35
Views: 6563

Re: Issue with cutting an agent out of a real estate deal?

Legalities aside, it's hard to close on a house (with both parties getting the best price) without a realtor involved. I don't think I'd try it. I'm sure there are folks on here who have and will talk about it being a great experience, but it's really hard. I'm personally not convinced that each par...
by betterfinances
Wed Mar 09, 2016 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Mom needs long term care - assets into trust?
Replies: 22
Views: 3752

Re: Mom needs long term care - assets into trust?

To critics of Medicaid planning: Should one be drained of lifetime of savings merely for BAD LUCK? LTC is not an option and is very expensive. It's not a Florida vacation at the taxpayer's expense. We save for retirement to provide for our needs in retirement so we are not dependent on society to t...
by betterfinances
Wed Mar 09, 2016 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Mom needs long term care - assets into trust?
Replies: 22
Views: 3752

Re: Mom needs long term care - assets into trust?

I would suggest that using her assets to pay for her care is the right and appropriate thing to do.
by betterfinances
Tue Mar 08, 2016 11:22 pm
Forum: Investing - Theory, News & General
Topic: Pay and investment for 5 yo child
Replies: 39
Views: 4402

Re: Pay and investment for 5 yo child

Thread is done, but I'll just say that you don't have a clue what you're talking about. MN Finance, father of 4 children who occasionally get paid to model How much do your kids get paid to model, on either a per job or per hour rate? And how many jobs/hours do they put in each year? And what ages?...
by betterfinances
Tue Mar 08, 2016 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do you find retirement forecasting confusing?
Replies: 51
Views: 6281

Re: Do you find retirement forecasting confusing?

Would y'all consider paying (extra) toward your mortgage as "savings"? I'm contemplating our financial picture, and trying to figure out what "savings" means. This is off-topic, but I'll bite anyway. It is savings in the sense that your net worth is increasing with every payment...
by betterfinances
Tue Mar 08, 2016 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Do you find retirement forecasting confusing?
Replies: 51
Views: 6281

Re: Do you find retirement forecasting confusing?

Save 1/3 If this seems impossible to younger people... Do it this way... Save 10%, then save 1/2 of your raises from then on. The 1/3 rule is classic KlangFool advice. Not what he did or does, but a simple rule for everone e Spending only 1/3 is virtually impossible for a younger 2-income family wi...
by betterfinances
Tue Mar 08, 2016 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for person with false "Alcoholic" diagnosis
Replies: 100
Views: 13572

Re: Life Insurance for person with false "Alcoholic" diagnosis

I personally don't see how someone who only rarely drinks (once or twice per year) accidently drinks too much and ends up in the hospital the next day for treatment of alcohol poisioning. That's not a case of simple overservice at the concert, that's a concerted effort to drink a ton of alcohol. My ...
by betterfinances
Mon Mar 07, 2016 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Graduate School - Use IRA to pay for it?
Replies: 17
Views: 3111

Re: Graduate School - Use IRA to pay for it?

If I am unemployed for a few years I am pretty sure compounding interest will be the least of my worries. Employment reports are strong at my school I wonder what school gives poor employment reports to prospective students? When I was a new graduate from my undergraduate school, I was underemploye...
by betterfinances
Mon Mar 07, 2016 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA-CREF makes 403b rollovers difficult
Replies: 14
Views: 5947

Re: TIAA-CREF makes 403b rollovers difficult

livesoft wrote:Only 8 pages? You got off light. Vanguard requires 11 pages to transfer … from Vanguard to Vanguard!!!! :) :) And a few Medallion Signature Guarantees, too! :twisted:
The Medallion Signature Guarantees are a pain.