Search found 741 matches

by Freetime76
Fri Nov 10, 2023 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Prepaying alimony
Replies: 32
Views: 3835

Re: Prepaying alimony

I’m sorry :? - divorce isn’t fun for anybody. Feel better : Illinois is an alimony For Life state - it could be much more aggravating. Imagine, you are 80, retired, and still sending that darn check every month for 25 years…to someone who now forgets to cash it. Yep, could be worse. From my own experience: 1. Get a different therapist who is “pro” the new you and new life. Not, let’s meet every week to talk about your childhood wounds for the next 4 years…very expensive!! I was lucky - I had 2 sessions, regarding a divorce- felt SURE afterwards. Life was MOVING. I know, every scenario is different. I hope you can get there! 2. Another vote from me for the auto draft. I would not prepay property tax, auto insurance or any other odious ongoin...
by Freetime76
Fri Nov 10, 2023 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Should I ask my in-laws to change their trust?
Replies: 83
Views: 10041

Re: Should I ask my in-laws to change their trust?

My grandmother passed away about a year ago. She had told my mother that there would be "substantial" assets. My mother had asked me to put together a plan and I asked "how substantial?" Of course no one knew and no one wanted to ask. In the end, my mother and her two siblings split about $60,000. That was "substantial" to my Depression era grandmother. Exactly!! Your story is sort of sad, sort of hilarious, and a good reminder not to ruminate too much on something we don't know the details of! Fair point. And the OPs MIL may have a point, as well. My MIL is said to have “plenty of money” by one of her sons…who is quite young compared to us boring and middle-aged people - and not pooh-poohing, he’s young in hi...
by Freetime76
Sat Oct 21, 2023 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Father leaving home and investments to me
Replies: 16
Views: 2181

Re: Father leaving home and investments to me

CouponJack: How kind of your father to be taking care of his business - it is a gift to you and his family if he makes his final wishes clear and has his affairs in order. My suggestions are: 1. Do a Last Will and Testament, financial durable Power of Attorney, and medical POA/living will (whatever pertains in his state of residence). 2. Set up investment accounts as POD/TOD. 3. Add Coupon’s name on the safety deposit box, if he has one so you’ll be allowed to access it. 4. Do not sign over or do any kind of adding a name to the deed of the house. Discuss with his attorney why. TOD if he wants. 5. Don’t forget the Medicaid look back- in case he ends up needing it to cover long term care. 6. If you help with bills, he can put you as an autho...
by Freetime76
Thu Oct 19, 2023 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: No motivation at work or how do you push back to your boss / superior?
Replies: 27
Views: 4931

Re: No motivation at work or how do you push back to your boss / superior?

At a similar age/point in career, I stumbled onto a little yellow book called: Your Money or Your Life, by Vicki Robbins and a colleague/friend https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766 OP, I highly suggest you read it ASAP. :D (for my part, I ignored the political activist part, because I am not interested in living in a yurt attempting to have no carbon footprint :wink: if you read it, you’ll see what I mean) There is a WIDE OPEN field between stay and be miserable… and …live on a dream that doesn’t pay. Some of the perspectives in that book completely changed my life, as my husband and I were able to realign our lifestyle with our values. Sounds fancy, but it was only putting one foot in front of the ...
by Freetime76
Tue Oct 10, 2023 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Changing my will?
Replies: 10
Views: 1877

Re: Changing my will?

The 2nd version should cost less, if that is your main concern - it’s a change not starting from scratch.

You’ll want the new Will to specify what you want to happen if one party dies before you (or before you update again… which one is not always able to do). For example, if one of your kids has predeceased you, does the share go to their kids? your spouse? your other kid?

Do make sure the prior will is shredded, to avoid confusion.
by Freetime76
Mon Sep 18, 2023 7:03 am
Forum: Personal Consumer Issues
Topic: Your favorite installed bathroom accessories?
Replies: 80
Views: 9268

Re: Your favorite installed bathroom accessories?

Bathroom exhaust fan switch with a timer. I never liked using the exhuast fan and having to remember to come back and flip it off. Toto Washlet. It seems "gross" to now not have this. No idea why it never took off in countries outside of Japan. Because Toto is expensive would be my guess. I just looked, because it sounds nice, and nope, not in the budget for us. Maybe for a % of the population, but not builder grade, that’s for sure :wink: . I am envious, though! For bathrooms, I like the motion activated light we put up. The bathroom only had a single pull chain light, so we put in LED stop lights by the mirror for temporary- about 3 years ago :D (you know how home rehab projects go…). The motion sensor picks up on movement outs...
by Freetime76
Thu Aug 31, 2023 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking advice for a confused premed student
Replies: 53
Views: 5529

Re: Seeking advice for a confused premed student

Not a doctor but I did steer my daughter away from being a doctor and to be a nurse anesthetist because it requires less schooling, high pay, less stress and less debt. 1. I was thinking explore anesthesiologist, too. High pay, critical to care, challenging. You “outrank” even the surgeon. 2. A college I recall (from teaching) had A “very high” % of students declare premed. :wink: Parents love it, Sounds great in a bar :D etc. Most change their minds, as it should be. (Frequently after ochem :shock: ) Best to decide before committing to medical school. 3. As others said, the only path to helping people, even with a medical flair, is not necessarily the MD, and also an MD need not directly work with patients. The work market is many faceted...
by Freetime76
Mon Aug 28, 2023 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Pay back student loan?
Replies: 8
Views: 5647

Re: Pay back student loan?

BennyF wrote: Sun Aug 27, 2023 12:18 pm I would pay off the loan. Why? You have enough capital to repay this coupled with a high income: you'll be able to reduce liabilities (while you still can) and focus 100% of your efforts thereafter towards investing. Debt is obligation while investing is a choice. I would get rid of anything that 'obligates' me first (just personal perspective)
Congratulations on the first 50K payoff! :sharebeer Well done!
I bet it felt good.

Yes. I’d pay it.
1. If/when/ as I have the money.
2. I took out the debt.

Be done with it.

Any supposed “spread” isn’t worth the brain space. It might sting, but really, the next 50K is the loan’s. At least, that’s how we live.
Pay it off, move on, be free :wink: Enjoy your life.
by Freetime76
Mon Aug 28, 2023 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Savings on Construction Projects
Replies: 16
Views: 1434

Re: Savings on Construction Projects

Ask your GC where he receives a contractor rate, such as for cabinetry etc. He may let you use his accounts.
by Freetime76
Sun Aug 27, 2023 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: homeowners/how to decide when to move
Replies: 17
Views: 3407

Re: homeowners/how to decide when to move

1. I’d rather be financially stretched by a house payment at a younger age - like a starter home - than at middle age. Youth has more energy to scrape out of a bind, usually more career upward potential, and longer to recover from a mistake or crummy situation. (Been there, done that.) That’s me, though! 2. Instead of a pros and cons matrix, I might play with our budget sheet. Gray out line items that are not needs (my mom always says that, “is this a want or a need?” :happy ). 2A. As a poster said, above: Live on the “new disposable income” amount, as if the higher house expenses were happening already. And don’t forget that all the other insurances, utilities etc might go up a %. While you get used to the idea, you’re saving up a bit extr...
by Freetime76
Thu Aug 24, 2023 6:28 pm
Forum: Personal Investments
Topic: Good rate for mid-long term CDs?
Replies: 31
Views: 4453

Re: Good rate for mid-long term CDs?

Do you have a brokerage account that lets you shop for CDs? Not sure what long term means to you - when I look at Schwab’s page, as of today, an 18 month CD is 5.60% and 10 year 5.45%. Also: not sure if you have opinions about which particular bank. I mention that because a CD my mom (she’s retired) had a CD set to rollover automatically went to the Bank of China (BOC), NY (Schwab shops the best rate for the selected term, only). FDIC insured etc. Schwab says it’s a good bank. My mom had me pull the money out and manually choose a different bank, since the BOC is supervised? associated with? not sure of the relationship… by the People’s Republic of China. She decided, no thank you, and went with a different bank. She wasn’t interested in Ba...
by Freetime76
Tue Aug 15, 2023 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Advice On Home Sale Dilemma
Replies: 49
Views: 5008

Re: Seeking Advice On Home Sale Dilemma

What would you do in my shoes? Stop cutting the price and just relax. Your agent is incentivized to make a sale quickly, not make a sale at the best price for you. Forget about what you spent on the place; it's not relevant with respect to what it is worth today. Focus on the comps that have closed, not the ones that have listed; if you're confident based on that information that $540k is the right price, then just let it sit there and wait. What are you going to do if the place does sell? Rates are much higher than in 2020... what is it really going to cost you to move to a "secure and comfortable" neighborhood? You have a lot of money into the home - expect a 10%-ish haircut off the price to do the move (commission,taxes, fees,...
by Freetime76
Tue Aug 15, 2023 7:11 pm
Forum: Personal Consumer Issues
Topic: crawl space under a house
Replies: 24
Views: 2832

Re: crawl space under a house

To me, it’s a preference and depends on what’s common in your area. A home on a slab or crawlspace is generally less expensive than one with a full basement. I’ll take a crawlspace over a slab (accessible Vs the plumbing is all in concrete) or a wet basement. Soooo many basements get wet, I can see scrapping the whole issue with o basement at all. And check how to get into the crawlspace- can Joe Schmoe fit in there or only a tiny person? Is it dirt or plasticed off or what? Is the underside of the home sealed/vapor barriered? How much clearance? Does it flood? Probably echoing others: Cons: 1. no basement storage. Does the house have an attic or garage instead? Are you more of a minimalist? 2. House living areas are rarely sealed off. Rode...
by Freetime76
Tue Aug 15, 2023 7:42 am
Forum: Personal Consumer Issues
Topic: Re-envisioning old house layout
Replies: 13
Views: 1642

Re: Re-envisioning old house layout

As my homebuilder friend says, there's nothing that can't be done, it just depends on how much you're willing to pay. I personally think it helps to go into these projects with a vision of what you want, otherwise you'll just end up with the contractor or architect's vision. So, I'm going to suggest talking with neighbors, going to open houses and just generally searching online for ideas. There's tons of Craftsman style houses out there that you can get ideas from. Good advice. We’ve redone homes a few times - a “slow flip”, if you will. My husband is the construction guy. Never hired an architect or designer, we figure it out because we are doing things ourselves. I only have 1 friend who’s hired an architect, and she wasn’t thrilled…but...
by Freetime76
Sat Aug 12, 2023 12:45 pm
Forum: Personal Consumer Issues
Topic: Gravel or concrete driveway, out in the country??
Replies: 45
Views: 3966

Re: Gravel or concrete driveway, out in the country??

Country home here, Asphalt. Easy to clear, no real maintenance in your anticipated ownership time. You’ll never want to go back.

YES the house is A LOT cleaner. No more weed spraying, no more mowing your driveway :oops:
We paved the last 2 houses - long driveway, mini farm - and I can’t wait to do this one,
by Freetime76
Sat Aug 12, 2023 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Asking again- please just help me with math about a rental
Replies: 49
Views: 4297

Re: Asking again- please just help me with math about a rental

P.S. I’d recommend to not do it - and it isn’t black and white math, even if it would be nice to have it that way, Appreciation is bumpy and unpredictable. Sure, homes “double about every 10 years”, as a rule of thumb (at least in my experience, so I’ve been told etc.). BUT, did the area just shoot up recently, so it’s going to ebb or even drop in the next few years? (Such as some areas on the west coast). Maybe someone else has seen linear real estate appreciation, not me. Again, if you want a rental, is this the one you would buy? If this amount of money is peanuts to you and your family, sure, sit on it…the math doesn’t matter that much anyway. Regarding taxes, you really need to either share all about your usual tax bill, anticipated ta...
by Freetime76
Sat Aug 12, 2023 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Asking again- please just help me with math about a rental
Replies: 49
Views: 4297

Re: Asking again- please just help me with math about a rental

Sho wrote: Sat Aug 12, 2023 10:55 am
Freetime76 wrote: Sat Aug 12, 2023 10:52 am Also, do you lose the capital gains tax exclusion for a personal residence when you convert it to a rental officially (meaning you start taking depreciation and reporting income)?
I think you have it as long as you live for 2/5 years? But then they recapture when you sell . Please someone correct me , I m not sure .
Conveniently, the IRS has answered the question of living in a property a few years, then renting it, then selling it. I’ll let you read, here:
https://www.irs.gov/faqs/capital-gains- ... home-etc-5

…rather than me try to interpret :wink: .
by Freetime76
Sat Aug 12, 2023 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Asking again- please just help me with math about a rental
Replies: 49
Views: 4297

Re: Asking again- please just help me with math about a rental

Also, do you lose the capital gains tax exclusion for a personal residence when you convert it to a rental officially (meaning you start taking depreciation and reporting income)?
by Freetime76
Sun Aug 06, 2023 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Death Binder: Personal Revelation - Reality and Simplicity
Replies: 23
Views: 4182

Re: Death Binder: Personal Revelation - Reality and Simplicity

Many years ago, when my dad died, I found he had a packet of papers in his safety deposit box (a family member had access to the box <—- word to the wise, choose this person Carefully). Dad had car titles, printed out pages of bank account statements, mortgage, pension fund, etc, complete with “call this #” and “press 5 for estate department” at the top in his handwriting. It was a Godsend, and he made it so easy. A huge gift, really. Absolutely nothing was online. Plus, his login credentials would not apply to me anyway. And I needed NOTHING from his person computer. Or his laptop. Or his cell. Or his other computer, or laptop in that rats nest of an office he kept. Bills, last year’s taxes, and daily life were in the file cabinet next to ...
by Freetime76
Sun Jul 30, 2023 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Advise on selling a house, strategy and what’s within the law
Replies: 19
Views: 2578

Re: Advise on selling a house, strategy and what’s within the law

Our realtor said it’s ok and they would even scratch off the clause that says something like we would owe their commission if we change our mind after getting what we asked for . Thanks! in advance for your guidance. You’re clearly on top of this, but wanted to emphasize one risk of pricing below what you would accept. The listing agreement typically has a clause stating the real estate commission is earned by agent procuring a ready, willing, and able Buyer. With that clause intact, you don’t necessarily have to accept the offer and go under contract for the agent to have earned the commission. Similar to what gotoparks said: Also, I wouldn’t price *below* what I could take, unless you’re going to move your bottom dollar amount (I.e. cave...
by Freetime76
Fri Jul 28, 2023 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about creating a will
Replies: 12
Views: 1187

Re: Questions about creating a will

P.S. To try to answer a few questions: A will may (should?) have a self proving affidavit, where your witnesses sign and notaries are involved…avoiding tracking down a witness to verify a signature years later. Expect to update your will through the course of life. Update with a change of state residency, states’ laws can differ. Not all areas have the option to deposit a will with the county clerk or court etc. Also, you need not tell anyone what your will says. I realize at this point, things are simple, so this probably sounds absurd :wink: . I was advised to not have old wills or make copies that are lying around, because it can cause issues, confusion and hurt feelings…a person with my Will knows it is the most recent version because n...
by Freetime76
Fri Jul 28, 2023 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about creating a will
Replies: 12
Views: 1187

Re: Questions about creating a will

1. You could try freewill.com (or org?). Check for a will in your state.
2. I would not give a copy to the executor.what if you change something? (Including the executor) Why put it on your executor to keep it? Or even have knowledge of what it says (if you have other beneficiaries)?
3. Even if you don’t “have much” under the will, still it’s considerate to let people know what you want done.

Keep a copy in a secure place, and make sure a trusted person knows where to retrieve it.

I second the comment about safety deposit boxes - if you leave it there, at least have a second name on the box (and that person may clean out the box along with the will…ask me how I know.)
by Freetime76
Sun Jul 23, 2023 4:39 am
Forum: Personal Finance (Not Investing)
Topic: Renting for life - a bad idea?
Replies: 735
Views: 88316

Re: Renting for life - a bad idea?

We came out way, way (way) ahead by buying. We had a nicer place to live, too. I think a lot of these threads are filled with people who don’t understand inflation risk. The bottom line is: do you have enough (money) or not over the course of time. If a person rents, then best to factor in a rate increase. I’d figure that if the rule of thumb is that a house doubles in value every 10 years, then I’d expect rent to at least double (not knowing for sure the vagaries of landlord insurance and property taxes and maintenance/repairs). So, if you rent and can pay 2x in about 10 years, no worries. If I was in the position of renting, as the OP asked, maybe because it is crazy expensive to buy, and I like the downtown life, and the job is too good...
by Freetime76
Tue Jul 11, 2023 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance Question - How long can payout be delayed?
Replies: 44
Views: 4195

Re: Inheritance Question - How long can payout be delayed?

I’ll add: The executor has a crummy job, including dealing with emotionally charged situations and people. The simplest will still might be hard to close out. You seem to be a … thorough…communicator and I can see you getting better results funneling through your lawyer. Which, you seem to be doing more of now - good. Why do I seem to remember being told that charities may do an automatic audit of an estate regarding their share? . Oh well. If so, it’s a delay. Also, until the estate makes it through the various checkpoints (state dependent, but may include inventory, accounting…and taxes for the deceased and potentially the estate), funds might not be completely disbursed. If the executor finds a sudden expense or mistake, s/he is left hol...
by Freetime76
Tue Jul 11, 2023 9:22 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime Day Price Observations
Replies: 49
Views: 7196

Re: Amazon Prime Day Price Observations

LaurenRose wrote: Tue Jul 11, 2023 7:47 pm I have been getting notices of items on sale for Prime Day. In many cases, I have purchased them before, so I have specific price history data.

I am noticing that the sales price is based on a comparison with an overinflated list price that has never even been charged on the website before for that item. So, in at least three instances, the Prime Day price is even higher than the price I paid a year or two years ago.

Just a heads up.
Thank you!
by Freetime76
Tue Jul 11, 2023 9:21 pm
Forum: Personal Consumer Issues
Topic: Gap between job end and start of ACA healthcare.gov plan
Replies: 8
Views: 629

Re: Gap between job end and start of ACA healthcare.gov plan

We’ve bought a catastrophic plan as a bridge in the past for a particular instance - it only would go up to 90 days and you had to declare the term upfront. It would not guarantee renewal. It was crap, :wink: , but it’s purpose was to stave off bankruptcy from a crazy medical incident and be a salve to my neurosis of jinxing ourselves.

I’d ride the “maybe use COBRA” and stock up on prescriptions in advance. You have 90 days. We’ve done it before - never needed to retroactively enroll. Very boring.

In truth, I’d expect better health after leaving the job - mine certainly improved … pretty much as I walked out the door! (Blood pressure, cholesterol, weight…all of it :sharebeer ).
by Freetime76
Tue Jul 11, 2023 9:13 pm
Forum: Personal Consumer Issues
Topic: What's the best way to deal with an inherited lake house?
Replies: 30
Views: 3627

Re: What's the best way to deal with an inherited lake house?

Don't complicate it with some prescribed equation portioning the financial responsibility when the time comes. Sell, split the proceeds, and let those who want a lake home purchase one where they want to spend time. If there's an overwhelming desire by one of the heirs to own the property, let them be the one to buy it, but please don't risk creating strained relationships trying to assign portions of expenses, improvements, and repairs based on a usage model. We had a family property to deal with (inherited by 2 siblings with a surviving parent holding life estate) and sold as soon as we could. We are very glad we did. A good answer. My limited experience is that the first generation inheritors *might* muddle through, but then it’s going ...
by Freetime76
Tue Jul 11, 2023 8:51 pm
Forum: Personal Consumer Issues
Topic: Termite prevention - Boracare, etc
Replies: 8
Views: 1229

Re: Termite prevention - Boracare, etc

A suggestion: buy professional grade products online. Boracare is good while the lumber is exposed - better if you can get all the sides, though. I’ve used it on the old construction stud/wood plank framing and then again when new framing goes over top. 1. It is sticky. For where we live, is use it because it’s cheap and relatively harmless. I didn’t bother with the Tyvec suggestion - it is a salt. If I remember correctly. But I also use Taurus, like Termidor but less expensive. It is a slow kill, meaning termites will take it back to the nest, and it wipes them out. I use it as a perimeter treatment, and I spray the access points (such as along the sill plate in the basement, where old damage is). You can get it from the internet, such as ...
by Freetime76
Tue Jun 20, 2023 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Hard conversation w/ Mom money
Replies: 93
Views: 11639

Re: Hard conversation w/ Mom money

Wow, I am 63 and never thought of 68 as being elderly…😂😂😂. This. I am 66….not elderly yet. My mom was elderly at 87. If you are eligible for Medicare due to your age, then you are elderly. [I’m telling my mom that. We had formerly agreed that elderly would apply when no one older than her was left. Currently, she is a senior, she wants her discount and that’s it :sharebeer :D ] OP: I’d leave it alone. She actually has some money beyond Social Security. She has decades left to go, potentially/hopefully. I’d not sell the house because she probably can’t beat that payment in rent prices (which go up, vs a mortgage that is a fixed payment…and if she’s resolve to do minimal upkeep on the home, then she’s not spending on it). Let it ride and get...
by Freetime76
Mon Jun 19, 2023 3:58 pm
Forum: Investing - Theory, News & General
Topic: SPIA: What Do You Think?
Replies: 91
Views: 9908

Re: SPIA: What Do You Think?

Hi Taylor! Hmm, depends on the individual? And how much income does this person want/need from her investments? I’ll dare an opinion (I’m not 65, but I’m a woman, and mom at about 80 years old and I talk finances often) :wink: : if the $1 million is all of her money -more or less - I wouldn’t do it with more than maybe half, if that. The reasons are: 1. Inflexibility of “all” (vast majority) of monies tied up in the immediate SPIA. My mother is independent-minded and prefers the idea of control of her investments herself. Women change their minds…it’s making a fixed income out of malleable assets. 2. Lifespan is unknown, and 65 is quite young. If her health changed, she might want a faster draw down over a shorter term, or to make gifts or ...
by Freetime76
Thu Jun 15, 2023 6:06 pm
Forum: Personal Investments
Topic: Thinking of moving to Edward Jones
Replies: 147
Views: 16157

Re: Thinking of moving to Edward Jones

OP: Once upon a time, we looked at EJ for my mother-in-law who was struggling keeping her finances straight. They were super sweet and kind…. thankfully we never went beyond talking on the phone. A few ideas for you: 1.About gains - those simple %up or down measures of a fund for a time span are VERY subject to the exact time frame you choose. A fund (or stock) might “look better” for a gain one day and completely change next week, when one tries to repeat the same analysis. Also, statements from a financial advisor can be “flavored” to obscure fees and front or back end loads within the share prices (Wells Fargo is unfortunately familiar to my family). 2. When the (index) investment is “looking poorly” is when people tend to sell it and bu...
by Freetime76
Mon Jun 12, 2023 10:15 pm
Forum: Personal Consumer Issues
Topic: Giving up the pickup truck?
Replies: 81
Views: 8728

Re: Giving up the pickup truck?

You can pry my 10th gen F150 from my cold dead hands. :D One of the best things I have ever done is keep my older truck. Clean, well maintained old trucks are like gold... some just don't know it. It has mechanical buttons, no beeping, no electronic fluff, easy to work on, it doesn't talk to me, it's off the grid, the backup camera doesn't ding dong and scream just b/c the ball is in the hitch and thinks you are running into something. :annoyed It is simple. All the new stuff to me is 100 steps forward, but so inconvenient. Things will break, you will have maintenance... keep up with maintenance and extended maintenance items: change hoses, brake fluid, belt, etc. If / when the transmission or engine dies, put a new one in. Still way bette...
by Freetime76
Mon Jun 12, 2023 9:48 pm
Forum: Personal Consumer Issues
Topic: Indoor CO2 levels above 1650 at night!
Replies: 51
Views: 7651

Re: Indoor CO2 levels above 1650 at night!

As suggested, run the HVAC fan. Put some plants in the room. There are studies that show a 10% reduction in CO2 for an air conditioned room to 25% reduction for a room without air conditioning. Another vote for run the house fan. And sleeping with the door at least cracked. My mom’s house was built very tight - it smelled like new wall paint many years after she moved in. (Our house is drafty, and I’m ok with that.) If you seal all the drafts, and nobody is going in and out nor windows open, then you might also need to do something to keep the indoor air quality - and I know, sometimes outside “fresh” air is worse). It’s well-documented that “improved” modern building methods concentrate the indoor air conditions. To clarify: Plants produc...
by Freetime76
Mon Jun 12, 2023 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Debt Spouses Name Only
Replies: 13
Views: 1281

Re: Credit Card Debt Spouses Name Only

I’m sorry for your and your mom’s loss. Hopefully one of the forum attorneys will reply. California as you said is a community property state, so she is liable whether she knew or not, but: Did he (and/or your mom) own anything? Any retirement accounts or savings? Any idea how much total he had(small estates may have a simpler transfer process)? Jointly held or his, alone? Do any have a TOD/POD (transfer or payment on death) named beneficiary? If mom doesn’t know or can’t answer, you’d have to search his papers/computer/etc. Is there a safe or safety deposit box at a bank? Do not pay the debts yet or negotiate. If you do help your mom navigate this, she may only need to sign things if it’s prepared for her (sorted out what to do, printed an...
by Freetime76
Sun Jun 11, 2023 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: High income earner marrying someone with negative net worth
Replies: 87
Views: 11527

Re: High income earner marrying someone with negative net worth

I would certainly get a prenup given the disparity in wealth. Over $300k, really? 300k per year? Yes a prenup. I’m not sure, myself. My spouse used to earn 1/3 of my pay (or zero, if laid off from construction). Now, we’re one income - his. In the OPs case, I’d see about his history as in range of incomes- did he ever get a “real income” (whatever that means to them), or was it only one startup poking along for 8 years of poverty? (And 15 odd jobs before that) A startup can mean a lot of things…I hear tech, or similar, (because a many fields of work don’t call starting a business a startup, you just start, and you’d better make money). Vs. Tech/patent-centered work can drag on until the Venture Capitalists lose interest. As for helping him...
by Freetime76
Sun Jun 11, 2023 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: High income earner marrying someone with negative net worth
Replies: 87
Views: 11527

Re: High income earner marrying someone with negative net worth

I second what Taylor and RM posted. Eyes wide open: My career track earned more than my husband; he had “less than nothing” financially and I had “something “. He added color to my life and fun; he learned the finances (conservative bent) and his debts were paid by “us”. We’re still married and better off together as a team. So. I’d be asking: What is the trajectory? Is the failure a one-off or the most recent in a series? Why now, after so many years? Is it 1000 grand ideas before 9 am and never execute? (My husband is maybe 10-15 ideas, he’s settled a bit :D ….we temper each other well. I say “no” a lot. He helps me dream… :wink: ) Does he have common sense? Grounded? Live independently? (If yes, marry immediately just kidding). Being a b...
by Freetime76
Fri Jun 02, 2023 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: How to plan for helping financially precarious parents in retirement?
Replies: 36
Views: 4289

Re: How to plan for helping financially precarious parents in retirement?

I really don’t think that *you* can plan per se. You can secure your own situation, and you may be able to ask questions out of curiosity about your parents’ situation, but I don’t think that you can plan “for” them. It’s not clear to me if they’re all that muddled, or if you are just kind of generally concerned. In my limited experience, many retirees seem to find their way decently through the Confusion of Medicare enrollment. It seems to be what all their friends talk about, and you don’t really know about it until you get there. A little bit I know is that healthcare costs is a big deal. It’s going to matter a lot if they have ongoing medical insurance from prior employers such as the government, or if they buy an additional plan privat...
by Freetime76
Thu Jun 01, 2023 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: How much money to keep at home
Replies: 120
Views: 9603

Re: How much money to keep at home

I would venture to say that most people on this forum keep more than $3K in “cash” (e.g., readily available liquid instruments such as high-yield savings, MM funds, checking, etc.), either to pay recurring bills and/or as part of an emergency fund. What does a power outage have to do with this? Are you concerned that you can’t access it unless it’s in greenbacks under your mattress? We are in this camp. Interest rate is not a concern, because in the scheme of life a little lost in interest is worth it (to us) for the convenience/risk mitigation. By the way, congratulations to the OP for actually HAVING some cash :wink: you’re ahead of a lot of people. Cash at home is for: A) convenience- we prefer to do a lot of transactions in cash. I am ...
by Freetime76
Thu May 25, 2023 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Looking for Direction (Burnout/Mid-Life Crisis?)
Replies: 46
Views: 8294

Re: Looking for Direction (Burnout/Mid-Life Crisis?)

Liz24: I am so sorry for your loss. I lost a parent suddenly and received an inheritance several years ago. It was a tumultuous time. I had recently relocated to a new state with my family. My job was terminated aka downsized a few months later, as well. We were in a fixer upper farmhouse… Lessons I learned (a few are iterations of what others said): 1. The money is not the sole legacy of your parent. The legacy is YOU and grandkid(s). 2. What seems like “a lot” of money may seem less so as you get into it. Before you all jumps me for saying that $2.5 M isn’t a lot - it is - …and some have mortgages and student loans that would suck that dry in two seconds. 3. Make sure the money goes to *something* worthwhile so that you can look back on “...
by Freetime76
Mon May 15, 2023 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get a loan to buy my ex-wife out of the house
Replies: 51
Views: 7249

Re: Where to get a loan to buy my ex-wife out of the house

OK I'm trying to understand the back and forth here and the relevance. The house is in CA with a loan in his name only. Assuming the existing loan was either purchase money or a simple refi it's a non-recourse loan. If he defaults the lender can only go after the property. The wife won't care if he defauts down the road after she's been paid off and title is no longer in her name. What am I missing? If the house is above water, she won't care. If it's below, they'll go after her as well. Even if she's not on the loan? Wouldn't they'd have to do a judicial foreclosure and prove fraud? That seems highly unlikely. https://selfhelp.courts.ca.gov/divorce/property-debts EXAMPLE: HOME MORTGAGE If you took out a mortgage to buy a house while marri...
by Freetime76
Mon May 15, 2023 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Loan to DD for home purchase
Replies: 32
Views: 2810

Re: Loan to DD for home purchase

Do they support this? I personally would loath having something my FIL/MIL could hold over my head. This is SO true. We borrowed $$$ for "bridge loans" from MIL a couple of times. We made every payment and paid the loan off early. We paid the loan off in nine months. Then she complained that she had a hard time finding somewhere that paid as well as our loan. :oops: Reminded us again on mother's day...nearly 30 years later. :oops: :oops: :oops: +1 Sandtrap’s #3 and #4. It’s a nice thought BUT, I’m going to suggest flat out, No. Do not hold their mortgage. [And…Do not press them to buy. Please do not expect their new house or rental to be a palace. :wink:] They’re going to be newlyweds. Let them figure it out. They have to sort ou...
by Freetime76
Mon May 15, 2023 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard attempting to hold my funds for 60 days?
Replies: 76
Views: 6254

Re: Vanguard attempting to hold my funds for 60 days?

I wonder who is liable if it turns out to be a fraudulent check. Seems like if the issuing bank has already sent the money, they would be liable. Perhaps Vanguard is holding the money as a professional curtesy until the bank can verify the check. If that’s the case, it shouldn’t take 60 days, since they are already on top of it. Unless whoever wrote the check is out of the country and can’t be reached, or has died. It was a settlement from a lawsuit, so the money was paid from a trust designed to hold the funds and disperse them to the claimants. Im supposed to get a call back... we'll see what they say and then I will try again to verify the check with the bank where the trust account was. OP: I’d you feel something is awry, file a compla...
by Freetime76
Mon May 15, 2023 7:16 pm
Forum: Personal Consumer Issues
Topic: Does Marriage in Pennsylvania Require an Officiant?
Replies: 4
Views: 889

Re: Does Marriage in Pennsylvania Require an Officiant?

This is called self-uniting marriage, it is a Quaker tradition that is legal in PA. It requires the presence of two witnesses. You can find a list of other states with self-uniting marriage on Wikipedia https://en.m.wikipedia.org/wiki/Self-uniting_marriage I wish I had known about this 20 years ago when we paid for our own "officiant for a day" license in CA. Note that most of the states require the couple to be a member of a religious organization or denomination without clergy (such as quakers or some Native American traditions), but that has not held up in court when challenged. On the third hand to challenge the refusal of a license or certificate you would have to be refused in the first place which is not a pleasant situati...
by Freetime76
Mon May 15, 2023 7:12 pm
Forum: Personal Consumer Issues
Topic: shower walls: panels (Swanstone, Onyx) vs. tile
Replies: 29
Views: 5887

Re: shower walls: panels (Swanstone, Onyx) vs. tile

FWIW, this just in from the WSJ latest article on bathroom renovations: OUT: Swaths of smooth tile and large porcelain tiles that simulate marble. IN: Moody Zellige Tile Demand is bubbling up for ceramics in rich, dramatic colors. Klarna, a buy-now-pay-later shopping app, reports that, year over year, online purchases of blue tiles rocketed by 5,195% and black tiles by 1,594%. Green tiles saw a more modest 40% increase the first quarter of this year. Particularly in favor: the rough and shiny texture, irregular shape and colors of zellige tile, original to Morocco. OUT: A shower with a pony wall. “It’s a half-wall that needs glass and that doesn’t create nice lines,” said designer Joëlle Kutner, partner at OME Dezin in Los Angeles. Not tha...
by Freetime76
Mon May 15, 2023 7:09 pm
Forum: Personal Consumer Issues
Topic: shower walls: panels (Swanstone, Onyx) vs. tile
Replies: 29
Views: 5887

Re: shower walls: panels (Swanstone, Onyx) vs. tile

Kohler makes a panel product. It comes in many colors and patterns. I LOVED it. Would do again.

Easy to maintain, easy to install other than the weight - heavy!
We used the Choreograph vein cut sandstone and aqua walls. I saw something similar in Dubai (ok, it was the entire suite and not fake :shock: ) and liked the look. Lowes sells it. Not sure about Home Depot.

The less crevices and caulk, the better (vs tile grout lines and caulk).
by Freetime76
Sun May 14, 2023 1:19 pm
Forum: Personal Investments
Topic: Personal Finance / Portfolio Review - mid 30s high earner
Replies: 45
Views: 7613

Re: Personal Finance / Portfolio Review - mid 30s high earner

Thanks for the feedback. I'll take the lack of constructive criticism to mean there is little more I should change to optimize our circumstance - but very open to more if there is any! In general yes. I would congratulate you on having your life in order and not trying to complicate investing, which some people, especially some of the "recently high earning" physicians on this board, seem to want to do. Three specific recommendations: 1. Do whatever you can to keep your wife happy. Support her in her career choices. Talk early and often about her happiness and where you might spend a little money to minimize pain points in her life. And just be nice. Divorce is a major financial risk and I would imagine also a major pain in the r...
by Freetime76
Sun May 14, 2023 12:58 pm
Forum: Personal Investments
Topic: Locked out for months and Support claims no human can override system [Vanguard]
Replies: 66
Views: 9122

Re: Locked out for months and Support claims no human can override system [Vanguard]

If there is nothing else going on I would have started transfering my account somewhere else after the first week. Some battles are not worth fighting. Yeah, but how can you transfer if you can't get access? Do you have the new brokerage just "pull" the assets? Will the old brokerage let go if there is a security issue? It depends on the issue. If they have standing instructions to not allow an account transfer from the owner, like Fidelity's "Transfer Lockdown" feature, that might prevent it, but under most circumstances Yes, you have the other brokerage "pull" the assets. It's left on the receiving brokerage requesting the transfer to verify the customer (as well as to be liable if it's fraudulent) and the b...
by Freetime76
Wed May 10, 2023 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: possible solar farm, pros and cons
Replies: 9
Views: 1504

Re: possible solar farm, pros and cons

You don't say what you've been offered. Let me give you the numbers I was offered. First, my property is under a state forest management program, where I have minimal requirements and as a benefit pay property tax on only 10% of the value of the land. The solar farm company proposed $4k per acre per year for 20 years. They would clear the land and put up the solar and interconnect to the electric grid. They would take care of pulling that portion out of the forest management program and pay everything required. They require a minimum of 1 acre and on the plot map they sent, it's actually the farthest part from my house. I decided to decline. We have offers in our area. 1. It was not clear who was going to be responsible if the solar compan...
by Freetime76
Sun May 07, 2023 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Simplifying my cash/expense/budget “envelope system”
Replies: 34
Views: 3092

Re: Simplifying my cash/expense/budget “envelope system”

OP: thank you for tldr :wink: The good things are that you ARE looking at your expense and you are NOT expecting to spend every dime you earn. :sharebeer I understand needing to plan for periodic expenses and future repairs/vacations etc. The impression I get is that you don’t trust your ability to budget, because you do know your spending (bills), right? Bills, food, toilet paper, soap, gas, gifts, entertainment - those are budget items. That is Budgets101 - and I’m not minimizing it, because most people have no idea what they’re spending :wink:. For big or “bumpy” expenses that show up where we can’t cash flow out of the month’s income we’ve used 2 ways: 1. Add all of it up (annual auto insurance, homeowners insurance, property tax, annua...
by Freetime76
Sun May 07, 2023 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: bad financial decision help (housing related)
Replies: 91
Views: 12785

Re: bad financial decision help (housing related)

Another FOMO observation: easy-come, easy-go. Because that equity windfall is not present anymore if I’m understanding correctly. If you get another such windfall, we’d direct it at the student loan (a certainty). Please know that one of the worst things that can happen is if something works like gangbusters the first time. True of my experiments in grad school, and true of easy wins/easy money at the casino, business ventures, etc. Luck is a fickle partner. If you can afford to live in that house, then save the rent, and table the sale for a bit. Wait it out. Learning to be content where you are will pay off - we’ve lived in awful places for temporary for a reason. It made us appreciate later improvements in our life, Note: an appraisal is...