We have two seasons in Colorado... Cold and Hot... We get a week of spring and a week of fall...
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- Tue Jan 30, 2024 11:27 am
- Forum: Personal Consumer Issues
- Topic: Thinking of moving to Denver
- Replies: 59
- Views: 6763
Re: Thinking of moving to Denver
- Mon Jan 22, 2024 1:22 pm
- Forum: Personal Consumer Issues
- Topic: Plumbing question for the plumbers in the group.
- Replies: 7
- Views: 1072
Re: Plumbing question for the plumbers in the group.
Always the best route to go since it could come up as an issue when you goto sell your house down the road.fortfun wrote: ↑Mon Jan 22, 2024 10:43 amJust looked it up. I think I'll install one just to be safe! Thanks,SimonJester wrote: ↑Mon Jan 22, 2024 10:04 am How / where is the ice maker connected to the drain? That matters, do you have a photo?
Edit, the best way to connect this and required by code in most places is via an air gap into the sink drain before its P trap.
- Mon Jan 22, 2024 10:04 am
- Forum: Personal Consumer Issues
- Topic: Plumbing question for the plumbers in the group.
- Replies: 7
- Views: 1072
Re: Plumbing question for the plumbers in the group.
How / where is the ice maker connected to the drain? That matters, do you have a photo?
Edit, the best way to connect this and required by code in most places is via an air gap into the sink drain before its P trap.
Edit, the best way to connect this and required by code in most places is via an air gap into the sink drain before its P trap.
- Fri Jan 05, 2024 3:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: 529 withdrawal questions
- Replies: 7
- Views: 753
Re: 529 withdrawal questions
I agree with others...
What I did for my son living off campus; he sent me a screen shot of his rent payments (they were all made online). I saved those with my paperwork for college expenses. For food I sent my kid a set $ amount each month, I noted it in my spreadsheet. The combined rent + food did not exceed COA for his school. We did not bother with receipts for his mac n cheese. Sometimes we would also load up a Sams club run for him as well. I think I might have saved these receipts but not 100% sure.
Because he was in a high COL area for rent, food was not a large dollar amount of the 529 withdraw.
What I did for my son living off campus; he sent me a screen shot of his rent payments (they were all made online). I saved those with my paperwork for college expenses. For food I sent my kid a set $ amount each month, I noted it in my spreadsheet. The combined rent + food did not exceed COA for his school. We did not bother with receipts for his mac n cheese. Sometimes we would also load up a Sams club run for him as well. I think I might have saved these receipts but not 100% sure.
Because he was in a high COL area for rent, food was not a large dollar amount of the 529 withdraw.
- Thu Jan 04, 2024 10:13 am
- Forum: Personal Investments
- Topic: Rolling I bonds into a 529
- Replies: 8
- Views: 1793
Re: Rolling I bonds into a 529
The interest exclusion phases out for 2023 income (MAGI) between $91,850 and $106,850 for single filers and between $137,800 and $167,800 for taxpayers who file as married filing jointly.
If your MAGI is above 167,800 MFJ then you cannot exclude any interest.
- Mon Jan 01, 2024 9:13 pm
- Forum: Personal Investments
- Topic: Rolling I bonds into a 529
- Replies: 8
- Views: 1793
Re: Rolling I bonds into a 529
This is correct, I have done this many times, you are spending the I-Bond on Qualified education expenses. The instructions on form 8815 explain how to code the expense for 529 aka "QTP" qualified tuition program .toddthebod wrote: ↑Mon Jan 01, 2024 5:53 pmNo. There's no such thing. It has to be the same calendar year.
- Thu Dec 28, 2023 9:34 am
- Forum: Personal Finance (Not Investing)
- Topic: 15 year old son getting learner's driving permit considerations
- Replies: 19
- Views: 1594
Re: 15 year old son getting learner's driving permit considerations
This might not be the case if the parent is paying the insurance, if the vehicle in registered in the parents name, if the parent is providing all living expenses for the child...popoki wrote: ↑Wed Dec 27, 2023 3:20 pmI think the point of waiting until 18 is that the parental assets are no longer at risk in lawsuit. The parents could still have the option of paying for the son's insurance at 18 or beyond.SimonJester wrote: ↑Wed Dec 27, 2023 2:44 pm In my state 16 vs 18 does not matter as the first 3 years drivers are considered a higher risk and have a higher premium. So each insurance agent I spoke with said it would not matter for their pricing.
- Thu Dec 28, 2023 9:33 am
- Forum: Personal Finance (Not Investing)
- Topic: Wife's 401k plan termination, company not sending check
- Replies: 11
- Views: 1492
Re: Wife's 401k plan termination, company not sending check
As a Final update, we received the 401K check in the mail on the 26th. We mobile deposited it into Fido and the funds were put into her current 401k as of the 28th as a rollover. One annoying issue her previous 401k provider said the check would come with the final statement / distribution report, It did not. Online her old 401k account also shows no distribution reports even though the account activity shows a distribution. We shall see what shoes up for the end of year statement. Even more annoying after taking a large last quarter admin fee from her account (she was paying really high admin fees with the old provider) they also charged a $75 distribution / check fee. These smaller 401k providers / administrators are really charging a lot...
- Wed Dec 27, 2023 2:44 pm
- Forum: Personal Finance (Not Investing)
- Topic: 15 year old son getting learner's driving permit considerations
- Replies: 19
- Views: 1594
Re: 15 year old son getting learner's driving permit considerations
Consider waiting until later to get his license (not at age 16) as the cost associated with the additional insurance premiums would cover many uber / lyft rides. [/quote] In my state 16 vs 18 does not matter as the first 3 years drivers are considered a higher risk and have a higher premium. So each insurance agent I spoke with said it would not matter for their pricing. Something else to consider is the type of vehicle you son is going to drive. You might speak to your insurance company to get an idea of kind and years of vehicles are cheaper to insure a young new driver. Our insurance doubled once I added my oldest son, then doubled again when the youngest son started driving. They are both out of the house now and on their own policies s...
- Fri Dec 22, 2023 2:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: Wife's 401k plan termination, company not sending check
- Replies: 11
- Views: 1492
Re: Wife's 401k plan termination, company not sending check
BogleTaxPro wrote: ↑Fri Dec 22, 2023 10:45 am ...and make sure you tell Fido it's a rollover, not a contribution.
Its going into her current 401k and the check is being make out to Fidelity FBO My wife's name, per Fidos instructions. We started the Rollover online and stopped at the part where it instructs you about the check while we awaited the arrival of a check...
- Fri Dec 22, 2023 10:35 am
- Forum: Personal Finance (Not Investing)
- Topic: Wife's 401k plan termination, company not sending check
- Replies: 11
- Views: 1492
Re: Wife's 401k plan termination, company not sending check
As a follow up; my wife was told today the plan now has closed and checks will be mailed in a "few days" due to the holiday. She is now able to get into her account and see that actually did the distribution on 11/30. So they have sat on her money for 22 days now. I estimate the loss in her investments between 11/30 and today is ~4,000. A little disappointing but I guess there is not much we can do. Of course the market could have gone the other way and I would be celebrating. Best to put all of that our of my head as she has years to make up this move. Time in the market beats timing the market... We plan on following up after the holiday to see if the check has indeed been cut. Hopefully it will arrive and we can electronically ...
- Thu Dec 21, 2023 9:48 am
- Forum: Personal Finance (Not Investing)
- Topic: Wife's 401k plan termination, company not sending check
- Replies: 11
- Views: 1492
Wife's 401k plan termination, company not sending check
In October 2023 my wife's company was purchased, all employees were made to re apply for their job. They were basically all terminated from the old company and hired new with the purchasing company. Her status in the old 401k plan, held by Ascensus, was marked terminated. She was mailed paperwork about transferring her 401k. However the plan administrator at her work told everyone not to fill out that paper work that that a new paper would be filled out due to the entire plan being shut down. So she waited and when they received the new paper work she filled it out and it was submitted early November. The plan went into black out on November 22nd and she lost access to her online account. The blackout period has no end date, it just said th...
- Thu Dec 07, 2023 11:37 am
- Forum: Personal Consumer Issues
- Topic: TPMS with new tires
- Replies: 12
- Views: 1351
Re: TPMS with new tires
Yah those all seem to be similar kits for TPMS senors. I would ask the shop why they need three different kits that all appear to be the same.
- Sun Nov 26, 2023 10:40 am
- Forum: Personal Consumer Issues
- Topic: Reduced Caffeine or Decaffeinated/Half Caffeinated?
- Replies: 34
- Views: 3817
Re: Reduced Caffeine or Decaffeinated/Half Caffeinated?
This! Due to a health issue I had to quit caffeine cold turkey several years ago. I since have gone through several brands and found Seattle's best decaf to be the one I go back to most often.
Going cold turkey was not fun for the first week or two but I had no choice, now I do not miss the caffeine...
- Mon Nov 20, 2023 10:21 am
- Forum: Personal Finance (Not Investing)
- Topic: Quicken on Two Computers
- Replies: 14
- Views: 1645
Re: Quicken on Two Computers
FYI, I store my quicken file with 14 years of data 120Mb file size on a home LAN based Linux server. I share it between my wife's PC and mine, you can only have one quicken open at a time. There is a noticeable slow down in opening the quicken file and performing transactions on it on the LAN based (1 Gig connections) server vs when the file is on my local SDD. So I would think opening the file from google drive would be painful.
- Mon Nov 20, 2023 10:12 am
- Forum: Personal Investments
- Topic: 529 to Roth conversion rules
- Replies: 7
- Views: 902
Re: 529 to Roth conversion rules
My state has already said they will claw back for this...shess wrote: ↑Mon Nov 20, 2023 12:21 amNote that this is a FEDERAL regulation. Your state may attempt to clawback the deductions when you convert to Roth. There is precedent for this, some states clawback deductions if you rollover to a different state's plan:
https://thecollegeinvestor.com/35111/52 ... 9D%20Taxes
Also, your state may simply decide not to mirror the federal regulations WRT state taxes:
https://www.forbes.com/sites/robertfarr ... to-an-ira/
- Fri Nov 17, 2023 8:38 am
- Forum: Personal Investments
- Topic: 401k Rollover check lost in the mail
- Replies: 38
- Views: 6968
Re: 401k Rollover check lost in the mail
I agree with calling or visiting your local post office and letting them know about the missing mail.
I had several pieces of mail and packages go missing over a period of a few months one year and I complained to the local post master. Mail delivery got slightly better for a while, and I know the carrier was talked to because he said something to me about it. Unfortunately it was the sorting machines / folks that were dropping the ball for my mail...
So while it might not do a lot of good its still might shed some light on an ongoing issue...
As far as the check let us know how this plays out. My wife is in the process of moving her old 401K and they are mailing out a check soon as well...
I had several pieces of mail and packages go missing over a period of a few months one year and I complained to the local post master. Mail delivery got slightly better for a while, and I know the carrier was talked to because he said something to me about it. Unfortunately it was the sorting machines / folks that were dropping the ball for my mail...
So while it might not do a lot of good its still might shed some light on an ongoing issue...
As far as the check let us know how this plays out. My wife is in the process of moving her old 401K and they are mailing out a check soon as well...
- Mon Oct 30, 2023 2:18 pm
- Forum: Personal Investments
- Topic: Laddering emergency fund
- Replies: 8
- Views: 1967
Re: Laddering emergency fund
Hi, I am laddering my emergency fund and I am curious if anyone has a laddered emergency fund currently, what type of ladder? I know emergency fund is not to "make extra money" but I do want to protect it against inflation too. Right now, I have a 50K 6 months emergency fund: -30K in MMF will be bouncing back in between my MMF and HYSA whichever has the highest rate at my unfrequent random check -10K in CDs. Rates are currently good over 5%. -10K will be in upcoming I bonds In case of an emergency: I use the 30 K first then the CD money and at last the I bond. In case the emergency money I bond is not used long term, it will be part of my fixed allocation This is exactly how I am setup for my emergency fund. However I do not both...
- Fri Oct 27, 2023 11:53 am
- Forum: Personal Finance (Not Investing)
- Topic: severance package negotiating
- Replies: 46
- Views: 6754
Re: severance packaging negotiating
People get severance when they quit/retire? if you play your hand correctly, yes. Very situation specific. Interesting. I assume "situation specific" when it's resign/retire in lieu of termination. What does a company expect to gain from offering rewards to those walking out the door on their own? To open a flood gate of resignation? Have they worked for free? I have seen many long time employees leaving without anything from their employers. The only exception was a company with a policy of accelerated vesting of equity compensation for those over a certain advanced age. I am looking at RSU worth a few years of my t-comp. I have worked at Mega Mega corp for 26 years now and I have seen a few VRIFs ( voluntary reduction in force)...
- Fri Oct 27, 2023 11:32 am
- Forum: Personal Finance (Not Investing)
- Topic: Funding College
- Replies: 9
- Views: 1469
Re: Funding College
As someone who just completed sending two kids through college paying for it with ESAs/ 529s here is my advice... Lean towards under funding the 529 not over funding it. You have 17+ years to go but in today's world if you qualify for the AOTC you want 16K per child outside the 529 to take advantage. Kids plans change, not every kids goes to a 4 year school or even to college at all...
Make sure you are maxing out your 401k and Roth IRA before the 529s!
Make sure you are maxing out your 401k and Roth IRA before the 529s!
- Thu Oct 26, 2023 10:33 am
- Forum: Personal Consumer Issues
- Topic: How much to pay for these electrical installs ?
- Replies: 44
- Views: 4026
Re: How much to pay for these electrical installs ?
I wanted to install a 220V 50 amp welding circuit last year as well as a 120v 20 amp circuit. These would have been directly below my panel with short wire runs. However my panel is full so I need a new panel. Due to multiple new code requirements; new panel, new breakers, additional grounding rod, new riser mast, outside disconnect, upgraded to 200 amp service. All quotes from multiple providers were running between 7K and 10K. We decided to postpone the install. If your panel is full they make double (half size?) breakers that turn a single slot into 2. They also exist in various combinations so you can squeeze a 220v circuit in between 2 120v breakers. They are just as safe and an easy option if you dont risk tripping the main breaker. ...
- Wed Oct 25, 2023 10:54 am
- Forum: Personal Consumer Issues
- Topic: How much to pay for these electrical installs ?
- Replies: 44
- Views: 4026
Re: How much to pay for these electrical installs ?
I wanted to install a 220V 50 amp welding circuit last year as well as a 120v 20 amp circuit. These would have been directly below my panel with short wire runs.
However my panel is full so I need a new panel. Due to multiple new code requirements; new panel, new breakers, additional grounding rod, new riser mast, outside disconnect, upgraded to 200 amp service. All quotes from multiple providers were running between 7K and 10K. We decided to postpone the install.
However my panel is full so I need a new panel. Due to multiple new code requirements; new panel, new breakers, additional grounding rod, new riser mast, outside disconnect, upgraded to 200 amp service. All quotes from multiple providers were running between 7K and 10K. We decided to postpone the install.
- Thu Oct 12, 2023 9:41 am
- Forum: Personal Consumer Issues
- Topic: Free in-home Covid test Kits
- Replies: 360
- Views: 42306
Re: Free in-home Covid test Kits
Received mine as well with a 7/7/23 expiration date... extended out in 02/24. The cynical part of me thinks they are extended the expiration dates because Uncle Sam purchased so many of these are didn't want to throw them all away...
- Thu Oct 12, 2023 9:31 am
- Forum: Personal Finance (Not Investing)
- Topic: Mortgage paid off, questions on documents I need to keep
- Replies: 14
- Views: 2636
Re: Mortgage paid off, questions on documents I need to keep
When I paid my mortgage off years ago it was during a time period when there was a lot of mortgage fraud going on.
I received the letter from my mortgage company stating the loan has been paid off, I kept that. The mortgage company filed a release of lien with my county which officially clears their lien.
I then to be extra paranoid and just to see if it would work sent a written request to my mortgage company requesting they return the original wet ink mortgage note marked paid in full. Much to my surprise after a few weeks they sent it... Ive kept that more as a novelty and a just in case...
I received the letter from my mortgage company stating the loan has been paid off, I kept that. The mortgage company filed a release of lien with my county which officially clears their lien.
I then to be extra paranoid and just to see if it would work sent a written request to my mortgage company requesting they return the original wet ink mortgage note marked paid in full. Much to my surprise after a few weeks they sent it... Ive kept that more as a novelty and a just in case...
- Wed Oct 11, 2023 11:29 am
- Forum: Personal Consumer Issues
- Topic: Planning a 14-day honeymoon trip to Italy: Any tips/suggestions?
- Replies: 27
- Views: 2905
Re: Planning a 14-day honeymoon trip to Italy: Any tips/suggestions?
In Rome I highly recommend booking the Borghese gallery. It was a highlight of our recent trip.
We also did a day trip to Naples and Pompeii from Rome, that was really fun.
In Florence you might want to book Uffizi Gallery and Accademia Gallery.
Food in Florence we had the Bistecca alla fiorentina which is a really nice steak...
In Venice we did the Cicchetti Pub crawl.
https://www.ricksteves.com/watch-read-l ... etti-crawl
We also did a day trip to Naples and Pompeii from Rome, that was really fun.
In Florence you might want to book Uffizi Gallery and Accademia Gallery.
Food in Florence we had the Bistecca alla fiorentina which is a really nice steak...
In Venice we did the Cicchetti Pub crawl.
https://www.ricksteves.com/watch-read-l ... etti-crawl
- Tue Oct 10, 2023 2:07 pm
- Forum: Personal Investments
- Topic: Educational 529 plan OR Treasury bills
- Replies: 9
- Views: 1420
Re: Educational 529 plan OR Treasury bills
Without a state tax deduction I see very little reason to use the 529. Will you qualify for the AOTC? If so you want to pay 4K per year (max 4 years) outside a 529 either pay.
I second the previous opinion for treasuries.
- Tue Oct 10, 2023 1:44 pm
- Forum: Personal Finance (Not Investing)
- Topic: 19 yr old son, not living at home, do I really need to put him on my Auto Insurance?
- Replies: 19
- Views: 5386
Re: 19 yr old son, not living at home, do I really need to put him on my Auto Insurance?
Dont be shocked if your rated do not drop that much... i just removed my oldest from our auto policies as has has moved out of the house
My total yearly savings for dropping him $28
When I added him to the policy the rated doubled, then doubled again when I added my second child...
The youngest is now also talking about moving out, so we will be selling the "kids" vehicle to him and having him setup his own insurance policy... Crossing my fingers the rate does drop a little once he is off.... Otherwise its time to shop insurance again...
My total yearly savings for dropping him $28
When I added him to the policy the rated doubled, then doubled again when I added my second child...
The youngest is now also talking about moving out, so we will be selling the "kids" vehicle to him and having him setup his own insurance policy... Crossing my fingers the rate does drop a little once he is off.... Otherwise its time to shop insurance again...
- Wed Sep 27, 2023 11:07 am
- Forum: Personal Investments
- Topic: Is a tax lien certificate a good investment?
- Replies: 8
- Views: 1560
Re: Is a tax lien certificate a good investment?
I had a boss that was inverting in this in my area... They were ok 30 years ago but not anymore. You would bid at auction to purchase the tax lien / back taxes. You then paid the bid amount plus the back taxes. The owner then had 3 years to pay you back the taxes owed plus a set interest rate. If they failed you could file for a tax deed on the property. Best case scenario you only paid a small amount to purchase the back taxes and the owner paid you back in a year or so, then you made a profit. Worse case scenario you bid too much on a property that was un-buildable land that was also land locked in by other properties with no easements. You now have a worthless lot. Then about 25 years ago or so people started thinking this was a great wa...
- Thu Sep 21, 2023 9:30 am
- Forum: Personal Finance (Not Investing)
- Topic: Credit Card Debt at the Time of Death
- Replies: 75
- Views: 10803
Re: Credit Card Debt at the Time of Death
Just be aware that USAA may issue a 1099-C in your late MIL SSN. We had this happen with my FIL two years after he passed. We had already filed his last tax return and had closed probate. His estate was insolvent so we did nothing with the form....
- Wed Aug 30, 2023 10:59 am
- Forum: Personal Investments
- Topic: How to adjust a 529 for delayed entry to college
- Replies: 17
- Views: 1685
Re: How to adjust a 529 for delayed entry to college
I went 85% cash when my kids hit their junior / senior of High school.
- Mon Aug 28, 2023 12:05 pm
- Forum: Personal Consumer Issues
- Topic: Curious Amazon Fraud?
- Replies: 26
- Views: 4241
Re: Curious Amazon Fraud?
Dispute the charges with your credit / debit card. Last week I also receive a fraudulent amazon charge on my amazon prime card for Kindle Service. Amazon has no record of the transaction on my account. I disputed the charge and it was taken off and a new card sent to me
- Thu Aug 10, 2023 8:32 pm
- Forum: Personal Consumer Issues
- Topic: Home/Auto Insurance Deductible Advice
- Replies: 14
- Views: 1340
Re: Home/Auto Insurance Deductible Advice
Divide the increase of deductible by the yearly savings... This is how long you need to go without a claim to break even. At 10K for home that is 12.4 years, 5K would be 9.4 years. That's a pretty big gamble for home, but I live in an area that gets yearly hail storms that wipe out your roof... 2K Auto would be 2 years. So that might be a better gamble. Edit: Corrected numbers for current deductible I am now in my 44th year of owning my house. Never came close to ever making a house insurance claim for any reason. That's a good record, again where I live they say our roofs average age is about 5-6 years due to how may large hail storms we get each year. We have had 4 or 5 major hail storms this year with golf ball + size hail. I am quite a...
- Thu Aug 10, 2023 1:44 pm
- Forum: Personal Consumer Issues
- Topic: Home/Auto Insurance Deductible Advice
- Replies: 14
- Views: 1340
Re: Home/Auto Insurance Deductible Advice
Divide the increase of deductible by the yearly savings... This is how long you need to go without a claim to break even. At 10K for home that is 12.4 years, 5K would be 9.4 years. That's a pretty big gamble for home, but I live in an area that gets yearly hail storms that wipe out your roof...
2K Auto would be 2 years. So that might be a better gamble.
Edit: Corrected numbers for current deductible
2K Auto would be 2 years. So that might be a better gamble.
Edit: Corrected numbers for current deductible
- Thu Aug 10, 2023 1:24 pm
- Forum: Personal Finance (Not Investing)
- Topic: No 529 - Best pot/source of money to pull from for kid's college expenses
- Replies: 10
- Views: 1289
Re: No 529 - Best pot/source of money to pull from for kid's college expenses
My vote #4, then #1 or #3 but only if you qualify to exclude the interest. Also see if you qualify for the AOTC.
- Thu Aug 10, 2023 1:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: Car insurance with teens through the roof!
- Replies: 65
- Views: 9050
Re: Car insurance with teens through the roof!
I'm guessing that total car accident is probably the teens fault? And if so that is likely causing your premiums to sky rocket.
All you can do at this point is shop around.
All you can do at this point is shop around.
- Wed Aug 02, 2023 8:53 pm
- Forum: Personal Consumer Issues
- Topic: If you could wake up anywhere tomorrow morning, where would it be?
- Replies: 140
- Views: 16303
Re: If you could wake up anywhere tomorrow morning, where would it be?
Tuscany Italy, absolutely amazing...
- Wed Jul 26, 2023 4:31 pm
- Forum: Personal Finance (Not Investing)
- Topic: Equipment breakdown coverage from home insurance - too good to be true?
- Replies: 7
- Views: 978
Re: Equipment breakdown coverage from home insurance - too good to be true?
I would go pull a CLUE report for yourself and your home and see if that previous claim is reported. If so you know for sure it can count against you... It is already in CLUE. I am wondering about this: Will the insurance company treat this as any other claim? Or be a bit more flexible? Two things: 1-Equipment breakdown has lower deductible ($500 for almost all insurance companies I saw). So it is definitely being treated differently by the insurance company itself (vs. several thousand deductible for all other things). 2-Unlike fire damage, hail storm damage, pipe bursting and flooding you home, which may or may not happen even once during your lifetime, equipment breaks a lot. My two ACs alone broke down 10+ times in the last 18 years si...
- Wed Jul 26, 2023 10:53 am
- Forum: Personal Finance (Not Investing)
- Topic: Equipment breakdown coverage from home insurance - too good to be true?
- Replies: 7
- Views: 978
Re: Equipment breakdown coverage from home insurance - too good to be true?
I would go pull a CLUE report for yourself and your home and see if that previous claim is reported. If so you know for sure it can count against you...
- Thu Jul 20, 2023 11:20 am
- Forum: Personal Finance (Not Investing)
- Topic: Selling home to son, we be the "bank" for mortgage
- Replies: 83
- Views: 7007
Re: Selling home to son, we be the "bank" for mortgage
3. The plan is to structure so the house is entirely son's - without going into too many details there are so many divorces/remarriages/multiple marriages etc. in DIL family that they talk about who hasn't gotten divorced yet and how much longer before they do. Way over the 50% chance in that family. But yes, we would always take care of our grandchildren and if that meant helping (ex) DIL we would do that. Ouch, if I was your DIL this would cause a LOT of resentment. I would tell my husband hard pass on this deal, what is in it for her? She puts her money into a house that is not hers? What happens if your son passes away? She no longer has a home? This has disaster written all over it.. Any $ put in by her she would receive. They need to...
- Thu Jul 20, 2023 9:44 am
- Forum: Personal Finance (Not Investing)
- Topic: Selling home to son, we be the "bank" for mortgage
- Replies: 83
- Views: 7007
Re: Selling home to son, we be the "bank" for mortgage
Ouch, if I was your DIL this would cause a LOT of resentment. I would tell my husband hard pass on this deal, what is in it for her?557880yvi wrote: ↑Tue Jul 18, 2023 8:49 pm 3. The plan is to structure so the house is entirely son's - without going into too many details there are so many divorces/remarriages/multiple marriages etc. in DIL family that they talk about who hasn't gotten divorced yet and how much longer before they do. Way over the 50% chance in that family. But yes, we would always take care of our grandchildren and if that meant helping (ex) DIL we would do that.
She puts her money into a house that is not hers? What happens if your son passes away? She no longer has a home?
This has disaster written all over it..
- Tue Jul 18, 2023 10:09 am
- Forum: Personal Finance (Not Investing)
- Topic: Selling home to son, we be the "bank" for mortgage
- Replies: 83
- Views: 7007
Re: Selling home to son, we be the "bank" for mortgage
My advice would be not to become your child's mortgage lender... If everything goes right it works out. But if anything goes wrong it will change the relationship you have with your child. They can get a loan from a bank and you can sell them the house at a reasonable price...
- Mon Jul 17, 2023 10:40 am
- Forum: Personal Consumer Issues
- Topic: Resolved 7.19.23 Plumbing mystery - Toilet
- Replies: 52
- Views: 6302
Re: (Update 7.16.23) Plumbing mystery - Toilet
The problem with this approach is that if the toilet flapper valve leak was small enough there might have been enough water in the house pipes to continue to feed the toilet. This is why folks suggest just turning off the toilet valve itself. Much smaller volume of water to refill the toilet with...PoppyA wrote: ↑Sun Jul 16, 2023 11:17 am 7.16.23 Toilet continues to run in short bursts as outlined above. We left town yesterday & turned the water to the house off. Upon returning home we discovered The water level in the tank remained constant. The problem doesn’t appear to be coming from a leak from that area.
- Mon Jul 17, 2023 9:58 am
- Forum: Personal Finance (Not Investing)
- Topic: Overfunded 529 solutions
- Replies: 17
- Views: 2258
Re: Overfunded 529 solutions
Just keep in mind you can only pay certain expenses for International programs. You cannot pay for transportation costs, lodging, meals, and other daily expenses. Basically only the cost of the tuition . My youngest is currently away in such a class... Do you have a source for the lodging and meals not being covered, only tuition? A quick search that I did says otherwise. For example: https://www.investopedia.com/articles/personal-finance/070815/using-your-529-savings-study-abroad.asp KEY TAKEAWAYS 529 savings plans can be used to pay for study abroad programs but not to cover day-to-day expenses or travel costs , which can be substantial. The host school must be approved by the U.S. Department of Education to be eligible for 529 funds. Th...
- Thu Jul 13, 2023 9:48 am
- Forum: Personal Finance (Not Investing)
- Topic: Overfunded 529 solutions
- Replies: 17
- Views: 2258
Re: Overfunded 529 solutions
Just keep in mind you can only pay certain expenses for International programs. You cannot pay for transportation costs, lodging, meals, and other daily expenses. Basically only the cost of the tuition. My youngest is currently away in such a class...kgw wrote: ↑Wed Jul 12, 2023 9:04 pm I recall Ric Edelman on his podcast mentioning a college program that had developed some sort-of course in Europe that would qualify for use of 529 plan funds. In his example, some retirees were taking international classes in art history, culture, architecture … or something like that.
- Mon Jul 10, 2023 10:44 am
- Forum: Personal Investments
- Topic: Need Help on 529
- Replies: 1
- Views: 373
Re: Need Help on 529
Depending on your income you might qualify for the American Opportunity Tax credit. If so you will need 16K (4k per school year) per child outside of the 529. We put this money in I-bonds as a safe place while my kids were in middle school / high school. For my own kids 529 I used the aged based options which got more conservative as they got older. However starting in High school I began moving towards the cash / stable value option in their 529. While this strategy probably sacrificed some gain it was what I could sleep best with at night. Just keep in mind things change and while you can plan on you kids attending a 4 year college they might have other plans. You need to be ok with all of that money being tied up in a 529 and your kids n...
- Thu Jul 06, 2023 10:23 am
- Forum: Personal Consumer Issues
- Topic: How Can I Self-educated on Airline Points/Miles
- Replies: 166
- Views: 13562
Re: How Can I Self-educated on Airline Points/Miles
With the recent devaluation of points with my main hub carrier (United) I am considering ditching the points game and going back to a 2% card. In the past it was pretty easy to score some really good deals using points, however the game is up. Every one their brother is now trying the point game and massive bonuses from a few credit cards, plus hundreds of bloggers and social media influencers hocking points really ruined the game.
- Thu Jun 29, 2023 11:58 am
- Forum: Personal Consumer Issues
- Topic: International Long Haul Flight - Premium Economy?
- Replies: 61
- Views: 6423
Re: International Long Haul Flight - Premium Economy?
The current flight I am looking at to Europe in May of 20204; Economy is $1484, Premium Economy is $4386 Almost $3,000 more. And business class $7571, more then $6,000 then economy. We flew Business class last August to Europe with miles so we got spoiled but I just cannot justify the PE or Business class tickets. Prices are insane right now...
- Fri Jun 16, 2023 2:59 pm
- Forum: Personal Consumer Issues
- Topic: Stuck bolt on oil pan?
- Replies: 137
- Views: 9161
Re: Stuck bolt on oil pan?
Common sense says its the last person who changed the oil. Since the plug appears to be epoxied onto the oil pan... Its not like they can claim it was like that when the vehicle entered the shop. And yes it would be upto the judge to determine if they are at fault but that is a gambol I would be willing to make...
- Thu Jun 15, 2023 8:55 am
- Forum: Personal Consumer Issues
- Topic: Stuck bolt on oil pan?
- Replies: 137
- Views: 9161
Re: Stuck bolt on oil pan?
I would continue to try and find an honest mechanic that can replace the oil pan without removing the engine. Have them document with multiple photos the current condition of the oil drain plug and write up in their estimate what happened. If the plug was really cross threaded and epoxied back on (as it appears to be the case). I would have the shop replace the oil pan, then go back to the previous shop that performed your last oil change and demand to be reimbursed for the oil pan replacement. If they refuse I would sue them in small claims court. By the way their previous mistake of not putting back in the oil filter media on your other vehicle could very likely shortened the life of that engine. That should have been a major warning to s...
- Fri Jun 09, 2023 9:39 am
- Forum: Personal Investments
- Topic: How has 60/40 worked out in retirement ?
- Replies: 84
- Views: 13767
Re: How has 60/40 worked out in retirement ?
OP, you might want to take a look at Early Retirement Now's exhaustive series on safe withdrawal rates at different AAs: https://earlyretirementnow.com/safe-withdrawal-rate-series/ There's a lot to get through, and of course you don't have to read every post, but I found it helped solidify my thinking about my own AA. Wow what is the cliff notes version for that? I'm 10 years from early retirement and working to get to a 70/30, currently 75/25... I think I want to start out at 70/30 and see how it goes. I will have a pension providing ~50% of my needed income in retirement before social security and a projected SWR of 2%. Ive been investing for the past 26 years and I am now starting to see there is a light at the end tunnel so to speak...