Search found 22331 matches

by Watty
Sun May 16, 2021 5:53 pm
Forum: Personal Consumer Issues
Topic: Honda CRV or Suburu Forrester or other SUV
Replies: 79
Views: 5701

Re: Honda CRV or Suburu Forrester or other SUV

Do you have comments on electric cars ? We are a two car couple and likely always will be as long as both of us are still driving. I suspect that when we need another car it will be electric. For now the best combination for us is likely to have one gas car an one electric car so that we can take t...
by Watty
Sun May 16, 2021 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Worth fighting a will in Virginia?
Replies: 54
Views: 4189

Re: Worth fighting a will in Virginia?

I don't know what all the legal issues are but it would be good to talk to a lawyer that knows the laws in that state and then decide what to do once all the facts are known.

If nothing else that might help you let it go if that is what the lawyer says to do.
by Watty
Sun May 16, 2021 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Give Up My Earnest Money
Replies: 44
Views: 3114

Re: Should I Give Up My Earnest Money

One thing that has not been mentioned is that it might be possible to find someone who would be willing to take over the contract and buy the house and that could allow you to get your $50K back. With only 10 days that might be a longshot but in a crazy housing market it is not impossible. As others...
by Watty
Sun May 16, 2021 11:19 am
Forum: Personal Consumer Issues
Topic: Should we buy this 2007 Camry SE as a beater car?
Replies: 15
Views: 1324

Re: Should we buy this 2007 Camry SE as a beater car?

Some good things: .... - The original parts have not been replaced That is actually a bad thing. Replacing these will vary by car model but some parts like a starter, water pump, fuel pump, alternator, fan belts, brake master cylinder, power steering pump, etc are more or less a normal maintenance ...
by Watty
Sun May 16, 2021 10:45 am
Forum: Personal Consumer Issues
Topic: Life events spent more than earned
Replies: 38
Views: 3741

Re: Life events spent more than earned

Financially, We used to live on 20-30 percent of gross, now closer to 80-90 for the first month of newborn with all the stuff we have had to buy (diapers toys hospital bills clothing). Is this normal or are we spending to much on baby stuff? I would consider hospital and medical bills separately. Y...
by Watty
Sun May 16, 2021 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Family loan as a form of wealth transfer?
Replies: 14
Views: 1925

Re: Family loan as a form of wealth transfer?

....this $1M could turn into $5M. Or it could turn into $100K but he would still have a million dollars in debt. I really doubt that putting your kid into debt like that is allowed. As others have said you really need expert estate tax planning. To me a bigger problem though is that there is a risk...
by Watty
Sun May 16, 2021 9:26 am
Forum: Personal Investments
Topic: First time Hard money lending to a local business questions.
Replies: 32
Views: 2298

Re: First time Hard money lending to a local business questions.

They want 25k....... ..... I’ve been told second hand that the owner has zero debt and the business has zero debt. If that is the case then they could likely just get the $25K by getting a car loan on a paid off car or truck or by getting a home equity loan and either of these would be at around 3%...
by Watty
Sun May 16, 2021 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Making offer well-over asking price?
Replies: 24
Views: 3339

Re: Making offer well-over asking price?

(home was listed underpriced compared to comps). ...... Is this a dumb move, to get our perfect home? The low listing price was just a marketing strategy to get bids so it really means very little. The big question is what the house would be priced at based on the comparable sales. If you will be m...
by Watty
Sat May 15, 2021 7:41 pm
Forum: Personal Investments
Topic: High-level early retirement plan - What do y'all think?
Replies: 48
Views: 5069

Re: High-level early retirement plan - What do y'all think?

My wife is confident that this plan will be more than enough to cover us financially into the future. I tend to be more conservative and gravitate to 'buffering-the-buffer' for the unknown. My situation was much different when I was deciding to retire but when I was playing around with retirement c...
by Watty
Sat May 15, 2021 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Decision to make- Should I take up the new gig?
Replies: 22
Views: 1292

Re: Decision to make- Should I take up the new gig?

......they may not hire me for perm role as they agreed. If you do not get hired then how hard would it be for you to find another job like the one you have today? My year increments are between 1-2% (ridiculous!). Before I retired I worked as a software developer in Corporate IT for all of my care...
by Watty
Sat May 15, 2021 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Gift House to DD/SIL - best way to set price and report gift ?
Replies: 10
Views: 1486

Re: Gift House to DD/SIL - best way to set price and report gift ?

It would be good to check with a tax pro to make sure that your understanding of how the capital gains tax works is right. It seem odd to expect that for a $400K house you could give them $250K in home equity and get out of any capital gains tax obligation, especially since you expect to take $50K o...
by Watty
Sat May 15, 2021 11:35 am
Forum: Personal Consumer Issues
Topic: Honda CRV or Suburu Forrester or other SUV
Replies: 79
Views: 5701

Re: Honda CRV or Suburu Forrester or other SUV

My current vehicle still uses a key. Do any new cars have keys or are they all pushbutton? Another friend got a new vehicle since it was getting difficult to turn the key...who would have thought about these issues for a senior. For the Forester I think it depends on the trim level with the higher ...
by Watty
Sat May 15, 2021 10:28 am
Forum: Personal Finance (Not Investing)
Topic: How many professional advisors required ?
Replies: 20
Views: 1855

Re: How many professional advisors required ?

If you have some special situation like you own a business, lots of investment property, or have a very high net worth that makes your investments inherently complex so that you really need a lot of help it would be good to mention that. Likewise if you do not have anyone like responsible kids that ...
by Watty
Sat May 15, 2021 9:30 am
Forum: Personal Consumer Issues
Topic: $24500 good price for 2021 corolla hybrid?
Replies: 29
Views: 2288

Re: $24500 good price for 2021 corolla hybrid?

Car prices are sky high right now. New car prices vary a lot by model and location. Some new cars still have a good supply so the prices are not too bad. I was able to get a new Forester for just about the invoice price(not MSRP) including junk fees but not taxes and license. I consider that to be ...
by Watty
Fri May 14, 2021 10:35 pm
Forum: Personal Consumer Issues
Topic: Honda CRV or Suburu Forrester or other SUV
Replies: 79
Views: 5701

Re: Honda CRV or Suburu Forrester or other SUV

Comfort is key. That means smooth driving car with good power. I like quiet cars. The best thing you could do would be to figure out a way to take each of them for an extended test drive or rent one for a few days. The are both fine cars so there is really not a bad choice. If one feels better to y...
by Watty
Fri May 14, 2021 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Gift House to DD/SIL - best way to set price and report gift ?
Replies: 10
Views: 1486

Re: Gift House to DD/SIL - best way to set price and report gift ?

CAsage wrote: Fri May 14, 2021 6:16 pm There are multiple posts about gifting your children stock to save on capital gains; same idea, not particularly complicated.
The big question is if they can really afford the house or even if they can get a mortgage.
by Watty
Fri May 14, 2021 5:06 pm
Forum: Personal Consumer Issues
Topic: $24500 good price for 2021 corolla hybrid?
Replies: 29
Views: 2288

Re: $24500 good price for 2021 corolla hybrid?

For $10 you can join Consumer Reports for a month and they give pricing information. I just bought a new car and it was worth the money. I also did some pricing on KBB but I do not know how reliable it is. https://www.kbb.com/toyota/corolla-hybrid/ My gut reaction is that buy a Corolla Hybrid is sor...
by Watty
Fri May 14, 2021 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Gift House to DD/SIL - best way to set price and report gift ?
Replies: 10
Views: 1486

Re: Gift House to DD/SIL - best way to set price and report gift ?

Assume our cost basis is $200K, current FMV is $400K, current mortgage is $100k. We want $50K cash back. So you would be in effect giving them $250K and they would need to finance $150K Unclear whether they would qualify for a mortgage with the current car loan (fancy SUV). Even with a large SUV lo...
by Watty
Fri May 14, 2021 8:08 am
Forum: Personal Consumer Issues
Topic: Best time to buy tires
Replies: 36
Views: 2435

Re: Best time to buy tires

Best time to buy tires ..... I don't need to urgently change my tires....... The best time to buy new tires is long before there is an urgent need to replace them. If you would replace them today if you could save an extra 10% then it is probably a good idea to go on and replace then even if you ca...
by Watty
Thu May 13, 2021 9:41 pm
Forum: Personal Consumer Issues
Topic: How to buy a beater car in the Boston area?
Replies: 3
Views: 452

Re: How to buy a beater car in the Boston area?

With the pandemic the used car market has gone crazy so it is a rough time to buy a good used car at any price level. A couple of weeks ago I got quotes for a three year old Corolla from CarMax, Carvana, etc and got high offers. CarMax actually offered me more than I paid for it three years ago when...
by Watty
Thu May 13, 2021 7:42 pm
Forum: Personal Consumer Issues
Topic: how much is integrity worth?
Replies: 25
Views: 2317

Re: how much is integrity worth?

SavinMaven wrote: Thu May 13, 2021 6:21 pm 10,300 instead of the 13,200 I owed
There is an old quote,

"Everyone has their price."
Sir Robert Walpole, 1734

Yours is apparently more than $2,900.
by Watty
Thu May 13, 2021 7:28 pm
Forum: Investing - Theory, News & General
Topic: Too Good To Be True Portfolio
Replies: 35
Views: 3709

Re: Too Good To Be True Portfolio

Bentonkb wrote: Thu May 13, 2021 6:46 pm What is it he fatal flaw here?
Google "data mining".

When you backtest performance just you can find some combination of investments that trounced an index fund.
by Watty
Thu May 13, 2021 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: [Looking for a reason to retire]
Replies: 15
Views: 1356

Re: [Looking for a reason to retire]

As to the HECM Mortgage, the loan is a 3.25% mortgage. My investments have averaged slightly over 9.7% over the past 15 years. A couple of things. 1) There are lots of threads about considering a mortgage as a negative bond in your asset allocation that you can look up. If you subtract your loan ba...
by Watty
Thu May 13, 2021 11:04 am
Forum: Personal Consumer Issues
Topic: School districts and reassignments
Replies: 41
Views: 2744

Re: School districts and reassignments

I'm looking for advice on how to proceed. I don't know how it would work in a pandemic but in normal times I would call up school A that you want and make an appointment to go in and talk to the school principal. When I went in I would try to keep it friendly and stress that not having the bus serv...
by Watty
Thu May 13, 2021 10:25 am
Forum: Investing - Theory, News & General
Topic: Is inflation bad...
Replies: 88
Views: 7217

Re: Is inflation bad...

As for bonds, locking into a 4% corporate bond if interest rates and inflation rise should be self explanatory. That is not at all true. The details are fuzzy since I was right out of college and did not have money to invest but I can remember a time when people would have thought you were insane t...
by Watty
Thu May 13, 2021 10:17 am
Forum: Investing - Theory, News & General
Topic: Is inflation bad...
Replies: 88
Views: 7217

Re: Is inflation bad...

So my question is: does this sound right or am I missing something here? Back in the late 1970s and early 1980s double digit inflation years they called it "stagflation" because wages were stagnant but prices were going up. That was really bad since it basically translated into a lower st...
by Watty
Thu May 13, 2021 9:43 am
Forum: Personal Consumer Issues
Topic: Cost to screen-in an existing deck?
Replies: 7
Views: 1144

Re: Cost to screen-in an existing deck?

We briefly looked into this and it was not really possible because the deck was not designed for it so the old deck would need to be removed then it would have been basically the same cost as building it from scratch. The age of the deck can also be an issue. Depending on the house extending the roo...
by Watty
Thu May 13, 2021 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Moving without job
Replies: 23
Views: 1870

Re: Moving without job

Since you are looking for only remote jobs then start looking for your next jobs soon. Since it will be a remote job you can start working at before you move in mid July after you get your bonus. It takes time to get through the job search and interviews and not being able to start working in your n...
by Watty
Thu May 13, 2021 8:35 am
Forum: Personal Investments
Topic: Company sold new 401k sucks PSA's?
Replies: 16
Views: 1425

Re: Company sold new 401k sucks PSA's?

Separate accounts like that are common and normal. One thing you can look at is that in the literature there is probably a 10 year return for the fund compared to the 10 year return on the index. If there are no hidden fees this should only differ by about the stated expense ratio and just a sliver ...
by Watty
Thu May 13, 2021 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Bank error in my favor
Replies: 32
Views: 3129

Re: Bank error in my favor

One additional complication is that you would owe taxes on the money even if you did somehow get to keep it. That could lead to all sorts of interesting situations like if you paid the taxes on it then they wanted their money back. You could also have things happen before it is resolved like you die...
by Watty
Wed May 12, 2021 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Mother is looking to refinance and asking me to co-sign
Replies: 125
Views: 6929

Re: Mother is looking to refinance and asking me to co-sign

One thing to be aware of if you cosign a for her mortgage then if you ever need to get a mortgage of your own then your lender will look at the cosigned loan as being part of your debt and you may not be able to qualify for a mortgage. This can prevent you from being able to refinance to get a bette...
by Watty
Wed May 12, 2021 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Car Loan Refinance - What can I do to get a better offer?
Replies: 16
Views: 1159

Re: Car Loan Refinance - What can I do to get a better offer?

HappyPeaceful wrote: Tue May 11, 2021 4:42 am I am trying to sneak in a car loan refinance in parallel to a mortgage refinance.
I would put the car refinance on the back burner until you get the mortgage refinance done. You don't want to cause problems with that.
by Watty
Wed May 12, 2021 10:16 pm
Forum: Personal Consumer Issues
Topic: Does it make financial sense to buy a "beater" for a long distance commute?
Replies: 90
Views: 5110

Re: Does it make financial sense to buy a "beater" for a long distance commute?

Driving a beater for a drive like that is a non-starter. I would just drive your current car for a few months to make sure that the new job is working out and to see how the commute really is. You can then decide what to do. Just for brainstorming one other option I would look at is renting a car wh...
by Watty
Wed May 12, 2021 9:16 pm
Forum: Personal Consumer Issues
Topic: Hearing Aids
Replies: 10
Views: 884

Re: Hearing Aids

There are lots of threads on hearing aids that you can find by using the search box in the top right corner of most screens. A few things to point out; 1) Someone had found that that some Costco hearing aid locations were better than others so if you are near more than one Costco check the reviews o...
by Watty
Wed May 12, 2021 8:42 pm
Forum: Personal Investments
Topic: $5M Construction Project :confused
Replies: 62
Views: 5912

Re: $5M Construction Project :confused

4. If the project goes bad, I am looking at loosing all of my downpayment right Of course you are. :oops: Not only that but in some situations it is conceivable that creditors could come after you for more money and not only would you be at risk for that but you could be involved in lawsuits and pa...
by Watty
Wed May 12, 2021 7:50 pm
Forum: Investing - Theory, News & General
Topic: When would you buy cryptocurrency?
Replies: 199
Views: 10679

Re: When would you buy cryptocurrency?

When would you buy cryptocurrency?
Not until the question of WHY is clear to me.

If you take away the speculation that one cryptocurrency or another will go up in price and make you rich I just don't see any reason why I should buy any.
by Watty
Wed May 12, 2021 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Cheaper house and private school or more expensive house and public school?
Replies: 35
Views: 2506

Re: Cheaper house and private school or more expensive house and public school?

One thing that has not been mentioned is the choice between private and public also depends on the individual kids. I know someone who had two kids and one went to a public high school and the other went to a private high school just because that is what worked best for each of the kids. The kids we...
by Watty
Tue May 11, 2021 11:47 pm
Forum: Personal Investments
Topic: Windfall - Immediate Steps
Replies: 16
Views: 2641

Re: Windfall - Immediate Steps

A couple of other non investing things to do. Be very cautious and selective about who you tell about the windfall. People have posted about how it became awkward with some people when they found out that they had some money. Keep in mind that if you tell someone about your windfall they may tell ot...
by Watty
Tue May 11, 2021 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: I See no Path Forward Financially
Replies: 101
Views: 11773

Re: I See no Path Forward Financially

Hi PlasmatronSeven Welcome to the forum. It sounds like you have made it through what hopefully has been the worst of the pandemic and for someone that has been struggling with alcohol abuse that is a HUGE accomplishment. I have not been following it closely but from what I have heard is that it has...
by Watty
Tue May 11, 2021 5:22 pm
Forum: Personal Investments
Topic: Advice on Funding Assisted Living
Replies: 28
Views: 1391

Re: Advice on Funding Assisted Living

As a previous poster suggested one of the LifeStrategy Income, is there a big difference between that and the target retirement account? I can look up the differences. ...... I am the only child, so no chance at fighting over money/assets, but she has some close relatives that have already started ...
by Watty
Tue May 11, 2021 1:29 pm
Forum: Personal Investments
Topic: Advice on Funding Assisted Living
Replies: 28
Views: 1391

Re: Advice on Funding Assisted Living

Thoughts? You are making this too complex and she is likely in a lot better financial shape than you realize. With the home sale, IRA and checking account it sounds like she will have about $355K and will need about $1,000 a month to bridge the gap between her current income and what she needs to s...
by Watty
Tue May 11, 2021 12:18 pm
Forum: Personal Consumer Issues
Topic: how to get rid of junk mail for my mother
Replies: 42
Views: 2524

Re: how to get rid of junk mail for my mother

She is moving and does not want any of these mailings forwarded. Basic USPS mail forwarding services only forwards first class mail and periodicals. Most junk mail I get is bulk rate mail and doesn't get forwarded... This! Then the forwarding expires so the first class stuff stops coming through. M...
by Watty
Tue May 11, 2021 11:11 am
Forum: Personal Investments
Topic: Should I continue buying company stock?
Replies: 16
Views: 1369

Re: Should I continue buying company stock?

One thing to keep in mind is that your index funds likely also own that stock so you may have even more exposure to it. However, the co is a two hundred year old consumer products company, the kind that has benefitted greatly from the Covid19 situation. That is already priced into the stock. Hopeful...
by Watty
Tue May 11, 2021 10:57 am
Forum: Personal Investments
Topic: Should I continue to save beyond the match?
Replies: 7
Views: 1161

Re: Should I continue to save beyond the match?

Should I continue to save beyond the match? What are you going to do with the money if you do not save it? About five years before I actually retired I was at the point where I would have been OK financially if I was forced to retire early even though I would have needed to reduce my retirement lif...
by Watty
Tue May 11, 2021 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Wants vs needs in a hot housing market
Replies: 8
Views: 578

Re: Wants vs needs in a hot housing market

It would be good to wait to buy any property until you are married and have lived together for a while. If have seen a lot of couples break up not long after moving in together since that is a lot different than dating. Since you seem to have significant assets and she seems to have a negative net w...
by Watty
Tue May 11, 2021 10:02 am
Forum: Personal Finance (Not Investing)
Topic: [Looking for a reason to retire]
Replies: 15
Views: 1356

Re: [Looking for a reason to retire]

Looking for a reason to retire In that other thread a common response was something like "I did not enjoy the work as much as I used to and I knew that it was time to retire." You obviously are not there yet and you have plenty of free time to do other things like travel so I don't think ...
by Watty
Tue May 11, 2021 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Options for wealth inheritance (difficulties expected)
Replies: 26
Views: 3631

Re: Options for wealth inheritance (difficulties expected)

One thing that may not have been mentioned yet is that with the strief that is going on you also need to consider how your funds will be handled while you are still alive if you are not able to manage them yourself. For example if one of you lives to be 95 and is in a nursing home then often a child...
by Watty
Mon May 10, 2021 8:10 pm
Forum: Personal Consumer Issues
Topic: sony a7c full frame camera
Replies: 51
Views: 2308

Re: sony a7c full frame camera

Reasons for buying it: ..... 2. My 2nd son who will leave for college for two years wants to learn photography. I thought this will be a good chance to do father-son bonding and for him to learn something interesting. this will become priceless. I assume that you are not planning on sharing the cam...
by Watty
Mon May 10, 2021 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: What prompted you to pull the plug and retire?
Replies: 126
Views: 12734

Re: What prompted you to pull the plug and retire?

I had a year in my early 50s when I when I went to three funerals of people that were more or less my age. I was not real close to any of them but that does get you thinking. My wife and I also had some health scares at about that time that we recovered from. I retired about five years later as soon...
by Watty
Mon May 10, 2021 8:07 am
Forum: Personal Consumer Issues
Topic: How do you pay for a car?
Replies: 32
Views: 2483

Re: How do you pay for a car?

Thanks for the tip on insurance. Won't the insurer want to know what kind of car I have before writing a policy? Anyway, I have an insurance guy. You can get insurance quotes from different companies for the type of car you are looking at to make sure that you have a general feel as to what it will...