Search found 2944 matches

by rascott
Thu Feb 08, 2024 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Costs Of Kids From BH Parents?
Replies: 59
Views: 5124

Re: Costs Of Kids From BH Parents?

We funded 529s early and the growth now has us thinking that additional contributions will possibly lead to over-funding. Don't think we are quite there yet, but we now only fund the maximum for state tax exemption each year. When you say you funded 529 plans early how much did you put in early and then continue to do if any after that? Should have said we started funding early. $6000 per year starting in year of birth for each (above our exemption limit at the time), now at $5000 per year for each. Invested in the "aggressive" options. Nearly at $35k/year for 4 years for each child now, with several more years before college starts. Likely not what many would consider over-funding, but our initial goal was to be able to pay for ...
by rascott
Thu Feb 08, 2024 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Costs Of Kids From BH Parents?
Replies: 59
Views: 5124

Re: Costs Of Kids From BH Parents?

We had a great nanny that worked for us for about 7 years. Started with our first child at 4 months old and continued until our second was age 3 and we put her in a full day preschool. Nanny worked 4 days / wk from 8a-330p. We both worked flexible enough schedules where I wouldn't leave work until 8a and spouse was home by 330p. Grandparents took 1 day a week. This helped keep costs at about $2k/month. We're in a MCOL area so obviously many would be higher for some, particularly if they need a lot more hours and days. They are both now in school, but private (Catholic) school which 'only' runs about $11k/yr total for both. We have a summer nanny who is a college student... Same one for the last 3 summers. We pay her $18/hr. They also do som...
by rascott
Wed Jan 10, 2024 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Potentially selling a great house
Replies: 101
Views: 11740

Re: Potentially selling a great house

Wow, these replies are really interesting. Thank you all so much. I'm in my 30's and to be honest, I'm not aware of how kids play or make friends these days as mine are so young (even though the oldest in kindergarten has now made plenty of friends in school). To answer the broad question around my motivation for the move...I grew up several hours from where I currently live, but I grew up in a large neighborhood. I ran around outside with my friends almost everyday. We would bike for hours. My entire neighborhood had sidewalks. We played street hockey relentlessly in cul de sacs, etc. You get the point. We didn't have to drive to play dates. We just ran to our friends houses. I came back home for dinner, then ran back out. My kids won't h...
by rascott
Thu Aug 24, 2023 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a Home: Mortgage or Cash?
Replies: 17
Views: 2034

Re: Buying a Home: Mortgage or Cash?

Pay cash.

If you hate having a paid off house, you can always go get a cash out mortgage. Doubt that will ever happen, though
by rascott
Thu Aug 24, 2023 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Considering buying an 18 unit rental property
Replies: 32
Views: 3563

Re: Considering buying an 18 unit rental property

This could all work out and end up a very profitable venture, long- term. Or it could blow up in your face and be a financial albatross on your life.

The one thing that concerns me is rural area and dependent upon military installation. What happens if the base closes... which can and does occur? Particularly over the long term. What does this look like then?

Exit opportunities are likely to be challenging.

I also don't know why the seller would want to give you 6% money over 40 years. That's kind of crazy in today's interest rate environment.
by rascott
Wed Aug 23, 2023 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employees, Any Advice?
Replies: 80
Views: 7409

Re: Federal Employees, Any Advice?

Hard to believe this is a serious question. Most Fed Govt agencies offer tuition reimbursement for a certain number of hours per year. If I were you I would take advantage of that and get a free masters degree. I did that when I was your age, an online MBA fully paid for by the Feds. It was not difficult and did not really suck that much time. You are only 30, setting a goal of a GS13 is a pretty low bar. Most likely you'll want to continue to get promoted to at least GS14 during your career, and having a masters will help with the HR gatekeepers that are rampant in the Federal workforce. If you really just need the 24 hour mark, you sign up with one of the thousand distance learning programs and take a couple online courses. I took one th...
by rascott
Wed Aug 23, 2023 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Employees, Any Advice?
Replies: 80
Views: 7409

Re: Federal Employees, Any Advice?

Hard to believe this is a serious question. Most Fed Govt agencies offer tuition reimbursement for a certain number of hours per year. If I were you I would take advantage of that and get a free masters degree. I did that when I was your age, an online MBA fully paid for by the Feds. It was not difficult and did not really suck that much time. You are only 30, setting a goal of a GS13 is a pretty low bar. Most likely you'll want to continue to get promoted to at least GS14 during your career, and having a masters will help with the HR gatekeepers that are rampant in the Federal workforce. If you really just need the 24 hour mark, you sign up with one of the thousand distance learning programs and take a couple online courses. I took one thr...
by rascott
Fri Jun 16, 2023 9:39 am
Forum: Personal Finance (Not Investing)
Topic: $200k+ Special Assessment
Replies: 64
Views: 8295

Re: $200k+ Special Assessment

$5m for roof and stucco work on a 20 unit building. Wow. I need to get into that business.
by rascott
Tue May 16, 2023 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Lifestyle inflation or just-in-time income growth?
Replies: 26
Views: 1751

Re: Lifestyle inflation or just-in-time income growth?

You're saving 60% of after tax income?

I wouldn't be concerned.
by rascott
Thu Apr 27, 2023 8:38 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239041

Re: If your net worth is over $3 million, how did you do it?

Leesbro63 wrote: Wed Apr 26, 2023 1:48 pm
rascott wrote: Wed Apr 26, 2023 10:43 am Considering this post is approaching a decade old.... maybe the title should be updated to like $5m :D
This point was made not too far back. The current equivalent is just under $4M.
The broader point is we are all chasing a number that continues to get larger as we go. Like a greyhound at the race track trying to catch the lure
by rascott
Thu Apr 27, 2023 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed on Missed Opportunity Obsession
Replies: 35
Views: 4372

Re: Advice Needed on Missed Opportunity Obsession

If I went back a decade.... I've left literally millions of dollars on the table. Rental homes I should have/ would have purchased that I looked at (bought some, not near enough) ...Bitcoin that I didn't buy (bought some, not near enough) ...personal home that felt like too much of a stretch at the time, but would have been easy today.

I would have been retired today if I followed my gut. Instead I'll be slugging along for another 20 years. Financial decisions are very easy in the rear view mirror.


Life is too short for regret. Learn and move on.
by rascott
Wed Apr 26, 2023 10:44 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239041

Re: If your net worth is over $3 million, how did you do it?

sc9182 wrote: Wed Apr 26, 2023 8:48 am Guessing luck does play some role (besides hard work, intelligence, risk-taking/investing).

If Rich folks gets there by a “well designed plan” — how come some folks stops getting rich only up-to $3-$5 million asset level with their “not so great plan” - instead why haven’t they “planned” to get rich to $1 Billion wealth-level !?
Because they run out of time and retire at about that point.
by rascott
Wed Apr 26, 2023 10:43 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239041

Re: If your net worth is over $3 million, how did you do it?

Considering this post is approaching a decade old.... maybe the title should be updated to like $5m :D
by rascott
Wed Mar 22, 2023 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house for 615k if you were us? UPDATE: under contract
Replies: 99
Views: 10921

Re: Would you buy a house for 615k if you were us?

Buy it. Biggest regret I have with housing is being too conservative, at roughly your ages. I'm not advocating maxing out..... but you are not near that. If this is the house and neighborhood you love, you won't regret it. Just make sure it's in good condition and not a future money-pit.
by rascott
Tue Jan 31, 2023 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Does anybody here lease cars?
Replies: 83
Views: 7968

Re: Does anybody here lease cars?

Two young kids? Buy a minivan and ditch the mini-SUV.

Warning, most people that buy a minivan end up having one for rest of their lives, once they find out how useful they are compared to SUVs. The new Sienna drives very much like a car.
by rascott
Tue Dec 27, 2022 9:53 am
Forum: Personal Finance (Not Investing)
Topic: 2022 Estimated Taxes to avoid Penalty
Replies: 43
Views: 4631

Re: 2022 Estimated Taxes to avoid Penalty

Does the IRS know (or, in practice care) when the income was received? I've read on other posts that as long as the safe harbor threshold was met during the year, it doesn't seem to matter.

How on a return would you even indicate when exactly the income was earned? Say a lump sum in June vs December?
by rascott
Sat Dec 17, 2022 4:38 pm
Forum: Personal Consumer Issues
Topic: Any way to buy a decent refrigerator these days?
Replies: 137
Views: 23358

Re: Any way to buy a decent refrigerator these days?

wfrobinette wrote: Sat Dec 17, 2022 12:54 pm
catchinup wrote: Sun Oct 16, 2022 10:24 am
AllMostThere wrote: Sun Oct 16, 2022 3:35 am Only way to avoid this is to purchase a US made frig that has spare parts availability when needed and/or pray for something that lasts 10 yrs.
According to my research, practically none of the refrigerators are made in US anymore. Some of the top freezer apartment-style models, yes. But that's about it.
Not true. Electrolux makes theirs in sc and tn.
Does that include Frigidaire?
by rascott
Sat Dec 17, 2022 4:35 pm
Forum: Personal Consumer Issues
Topic: Any way to buy a decent refrigerator these days?
Replies: 137
Views: 23358

Re: Any way to buy a decent refrigerator these days?

As someone who is staring at a dead (compressor) 6 year old Whirlpoool $2k fridge.... no, there is no way to buy a decent fridge today. Per the 35 year experienced repair man.... they are all now junk and don't expect any of them to last long. He used to recommend Whirlpool, but now they are really no better. Only exception would be a SubZero, but you could probably just buy a new "normal" fridge every 5 years for a long while before you break even on that. So roll the dice and pick which ever one you like. And just plan to replace in 5-7 years. The Samsung and LG are probably still the worst, just because of the issue getting parts are repair help. A lot of talk about Costco and extended warranties.... but you'll read plenty of ...
by rascott
Fri Dec 16, 2022 3:10 pm
Forum: Personal Consumer Issues
Topic: Any way to buy a decent refrigerator these days?
Replies: 137
Views: 23358

Re: Any way to buy a decent refrigerator these days?

As someone who is staring at a dead (compressor) 6 year old Whirlpoool $2k fridge.... no, there is no way to buy a decent fridge today. Per the 35 year experienced repair man.... they are all now junk and don't expect any of them to last long. He used to recommend Whirlpool, but now they are really no better. Only exception would be a SubZero, but you could probably just buy a new "normal" fridge every 5 years for a long while before you break even on that. So roll the dice and pick which ever one you like. And just plan to replace in 5-7 years. The Samsung and LG are probably still the worst, just because of the issue getting parts are repair help. A lot of talk about Costco and extended warranties.... but you'll read plenty of p...
by rascott
Wed Nov 23, 2022 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Investment Property sale question
Replies: 5
Views: 735

Re: Investment Property sale question

FunOnABudget wrote: Wed Nov 23, 2022 2:28 pm If I may ask, isn't the value of the land vs structure when you buy the property much more important than when you sell? Wouldn't the only reason for this to be of interest to the IRS be for depreciation recapture ? What am I missing?
I agree.... you do this when you buy the property to determine how much of the total property value you depreciate. No depreciation on the land, but required on the building.

If you are waiting to sell to figure this out, you've been doing something wrong.
by rascott
Tue Nov 22, 2022 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: What I wish I knew before getting a new homeowners insurance policy is...
Replies: 10
Views: 2130

Re: What I wish I knew before getting a new homeowners insurance policy is...

I had a nightmare with this as well about a year ago. Switched for savings, a month later new company wants some very vague roof repairs ....and ended up dropping me. Was in a mad dash to get back to my old insurance and ended up going "naked" for a few days. Didn't sleep well
by rascott
Fri Nov 18, 2022 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Burned out - looking for better childcare
Replies: 123
Views: 10140

Re: Burned out - looking for better childcare

It's a rough and tough period of life, but it doesn't last long. You'll be past it before you know. Even at 7 and 4 here now... life is closer to "normal" now rather than controlled chaos you are currently experiencing.
by rascott
Fri Nov 18, 2022 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: I'm 70 Years Old and I Can't Spend My Savings
Replies: 418
Views: 68049

Re: Still cheap, what to do?

tennisplyr wrote: Fri Nov 18, 2022 4:23 pm
bob60014 wrote: Fri Nov 18, 2022 8:18 am
sycamore wrote: Fri Nov 18, 2022 7:43 am
Jack FFR1846 wrote: Fri Nov 18, 2022 7:14 am Maybe we need a support group. We could hold it in my garage because why waste money on a meeting hall?
Awesome! Who's bringing the Two Buck Chuck? :D
Can't afford it. Two buck Chuck is now up to $4!

I buy Walmart's Oak Leaf @ $2.96 bottle...see what I mean 🙄
Life's way too short to drink cheap wine.

Got to go with the $10-12 bottles... 😆
by rascott
Fri Nov 18, 2022 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: 15 or 20 year term life insurance?
Replies: 53
Views: 4042

Re: 15 or 20 year term life insurance?

I’m debating going up to $1 million, 20 year plan which would cost $55/month vs my current option through work ($600K coverage) which is about $30/month and would expire when I leave. I’m just wondering if 20 years is too long since we will hit our big financial goals in 15 years. That seems like a no brainer. Term is so cheap its worth erring on the side of longer and more. The savings are negligible, but the consequences of under insurance is very high if it turns out you needed it. What's the difference between the 15 and 20 year monthly premium? It’s $13/month difference. I know that sounds ridiculous but DH’s policy will potentially cost $100/month so I’m thinking of how/where to minimize costs. Because of pre-existing health issues, ...
by rascott
Fri Nov 18, 2022 4:50 pm
Forum: Investing - Theory, News & General
Topic: What "IF" there is a recession?
Replies: 78
Views: 7440

Re: What "IF" there is a recession?

FoundingFather wrote: Fri Nov 18, 2022 12:21 pm
Bjtsven wrote: Fri Nov 18, 2022 7:08 am In General, what would happen to our investments if there is a recession next year as the economists predict?
I would accelerate my investing if a recession occurred and resulted in a drop in the markets, since I love a good deal. That's what would happen to my investments, at least. 😉

Founding Father

I don't understand "accelerate".... this implies you are market timing. I invest at 100% of my available cash flow each month. Acceleration isn't possible.
by rascott
Mon Nov 07, 2022 10:22 am
Forum: Personal Finance (Not Investing)
Topic: 15 or 20 year term life insurance?
Replies: 53
Views: 4042

Re: 15 or 20 year term life insurance?

I’m debating going up to $1 million, 20 year plan which would cost $55/month vs my current option through work ($600K coverage) which is about $30/month and would expire when I leave. I’m just wondering if 20 years is too long since we will hit our big financial goals in 15 years. That seems like a no brainer. Term is so cheap its worth erring on the side of longer and more. The savings are negligible, but the consequences of under insurance is very high if it turns out you needed it. What's the difference between the 15 and 20 year monthly premium? It’s $13/month difference. I know that sounds ridiculous but DH’s policy will potentially cost $100/month so I’m thinking of how/where to minimize costs. Because of pre-existing health issues, ...
by rascott
Sun Nov 06, 2022 10:35 am
Forum: Investing - Theory, News & General
Topic: I know you can't time the market, But
Replies: 90
Views: 11367

Re: I know you can't time the market, But

So my 300k per year income goes…. 80k to taxes 40k to spending 120k to investing 60k to saving :shock: Does that $40k/year spending include housing? As a dad with two kids and in a HCOL area I just can’t even imagine annual spending that low unless a mortgage is paid off? I honestly think I have a problem. I think I need to talk to someone about my spending. It’s more like $35-38k per year so I rounded it up, even though I feel like I’m constantly buying things. The numbers are accurate. Yes it includes housing. I can PM you the details if you wish. I don’t want to derail the thread. Basically I used to spend more but I really focused on reducing spending over the years and then a few things occurred including Covid that reduced it even mo...
by rascott
Sun Nov 06, 2022 10:33 am
Forum: Investing - Theory, News & General
Topic: Should I maintain my AA until I feel like capitulating?
Replies: 88
Views: 9257

Re: Should I maintain my AA until I feel like capitulating?

At age 25.... you should be hoping and praying for stocks to go much lower (assuming you remain employed).
by rascott
Sun Nov 06, 2022 12:51 am
Forum: Investing - Theory, News & General
Topic: Preferred stock ideas
Replies: 14
Views: 2507

Re: Preferred stock ideas

Preferred stocks are not that liquid and may not have enough of a market capitalization to be worthwhile for large institutional investors, but for those reasons I think they are not a very efficient market. This year, with interest rates having spiked, some of them may have fallen too much. PSB-PZ is a preferred stock I have bought (about $100K) that last traded at 12.20, with a par value of 25, callable on 11/04/2024 , and coupon of 4.875%, for a yield of 25*4.875%/12.20 = 9.99%. The yield is high, but preferred stocks rank below bonds in the capital structure and in general have credit risk. In this case, the parent PS Business Parks was acquired by Blackstone Real Estate (BRE) in July , and under the terms "PSB’s three outstanding...
by rascott
Sun Nov 06, 2022 12:41 am
Forum: Investing - Theory, News & General
Topic: I know you can't time the market, But
Replies: 90
Views: 11367

Re: I know you can't time the market, But

PoorHomieQuan wrote: Sat Nov 05, 2022 8:28 pm We're in a strong downtrend with a Fed that has exchanged its put for a call. As long as there is a hard ceiling on equities, I don't see much upside but there is a lot of downside. From a risk-reward standpoint I wouldn't drop it all in right now. DCA is almost certainly a better choice even if some misleading statistics about DCA say otherwise.
I agree....I just cannot fathom a scenario where equties have bottomed out for this cycle. The Fed is intentionally putting the screws to the economy and have told us they they will continue to until they break some stuff (namely the labor market).

Don't fight the Fed.
by rascott
Thu Oct 27, 2022 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth pursuing a JD/MBA at 38?
Replies: 76
Views: 8032

Re: Is it worth pursuing a JD/MBA at 38?

Horrible idea is my opinion. You don't like managing people but want to get a MBA? You'll more than likely never earn what you are currently earning.
by rascott
Wed Oct 12, 2022 10:28 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1849
Views: 213988

Re: My LenderFi refinance is going well

Lenderfi is officially shut down and out of the mortgage business. I'm sure Ryan and his crew made out very well over the last few years, hopefully enjoying retirement... he was the best mortgage officer I've ever dealt with.

RIP Lenderfi
by rascott
Wed Oct 05, 2022 1:57 pm
Forum: Personal Investments
Topic: Should I change my investment strategy? Looking for advice/tips.
Replies: 20
Views: 1565

Re: Should I change my investment strategy? Looking for advice/tips.

From the looks of your charts, you only had about $100k in your accounts up until 2019.... is that accurate?

Markets may go through years (decades) of paltry or even negative returns. If you just expect to make 8, 10, 12% per year, you are going to be massively disappointed. Those are averages over decades and account for all the bull, bear and flat/ going nowhere markets.
by rascott
Tue Oct 04, 2022 8:38 am
Forum: Personal Investments
Topic: Dalio on cash: no longer trash
Replies: 19
Views: 3029

Re: Cash is no longer trash according to Ray Dalio - Increasing our cash positions

Cash- like holdings? I would probably put it in 3 month T- Bills and setup an auto-roll.
by rascott
Sat Sep 24, 2022 10:52 am
Forum: Investing - Theory, News & General
Topic: "4 Ways to Uncomplicate Your Retirement Portfolio"
Replies: 16
Views: 2951

Re: "4 Ways to Uncomplicate Your Retirement Portfolio"

matti wrote: Thu Sep 22, 2022 1:39 pm Thanks for the reminder. I am fairly knowledgeable about the basics, but admit that I probably don't understand half of the investing terms used on this forum (even though I have learned a lot!). I also know I want a simple approach that is as hands-off as possible, which is why I have every single retirement dollar invested in a Vanguard TDF. I am hopeful that this will pay off when it comes time to retire!
TDFs are great and are as hands-off as you can get.
by rascott
Sat Sep 24, 2022 10:12 am
Forum: Investing - Theory, News & General
Topic: Foreign stocks are cheaper
Replies: 94
Views: 11134

Re: Foreign stocks are cheaper

I've been anti-intl stocks for a long, long time.... but they are getting so cheap at this point starting to get interesting. I haven't looked closely, but would seem we would be approaching 10 PE ratios and close to 4% dividend yield. That's DEEP value territory.
by rascott
Fri Sep 23, 2022 10:00 am
Forum: Personal Finance (Not Investing)
Topic: PenFed Offering Reset Deals?
Replies: 5
Views: 1083

Re: PenFed Offering Reset Deals?

Not even sure they are offering this product anymore. Sorry you were sitting still when you had probably 18 months when you could have easily gotten a fixed rate at or even well below the 3.125%. I dropped this product in fall of 2020 for a 2.625% fixed.
by rascott
Thu Sep 22, 2022 11:53 am
Forum: Investing - Theory, News & General
Topic: Why not 100% PSLDX? [PIMCO StocksPLUS Long Duration Fund]
Replies: 2106
Views: 391622

Re: Why not 100% PSLDX? [PIMCO StocksPLUS Long Duration Fund]

bgf wrote: Thu Sep 22, 2022 11:41 am The catch? We’re living through it. When bonds and stocks drop you get the double whammy.
What's this beast down YTD?
by rascott
Wed Sep 21, 2022 3:51 pm
Forum: Investing - Theory, News & General
Topic: Guessing CD and Treasury rates going forward
Replies: 20
Views: 3132

Re: Guessing CD and Treasury rates going forward

hoops777 wrote: Wed Sep 21, 2022 1:20 pm After the fed meeting today I am wondering what you all think CD rates and treasuries will be at in the next 12 months.

I understand nobody knows but I also know there are a lot of smart people here who can make an educated guess.

I have a lot of CD’s and treasuries maturing in the next 4 to 10 months that I would like to make longer term so am hoping for some good rates.
Well the Fed just told you they now expect the terminal Fed Funds rate to be 4.6% sometime next year. Make your best educated guess based off of that educated guess.
by rascott
Mon Sep 19, 2022 10:54 am
Forum: Investing - Theory, News & General
Topic: HEDGEFUNDIE's excellent adventure Part II: The next journey
Replies: 14343
Views: 1970894

Re: HEDGEFUNDIE's excellent adventure Part II: The next journey

I've been out of this portfolio for almost 2 years now..... so not really paying attention to it.... but what kind of bloodbath has it been YTD? Down 50%?
by rascott
Wed Sep 07, 2022 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2905
Views: 515333

Re: Tales from this insane real estate market [Home sales]

Slacker wrote: Wed Sep 07, 2022 3:03 pm The crazy market was great for us as sellers. Sold our rental property that we purchased with a zero down VA loan back in 2015. The price we sold it for was effectively double the original purchase price.
I sold a rental I bought in 2016 for 3x about 2 months ago. Plus received 5 years of rental income. Good stuff.
by rascott
Wed Sep 07, 2022 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2905
Views: 515333

Re: Tales from this insane real estate market [Home sales]

There isnt much pressure for owners to sell. Most guys bought it before price increase pre covid with rate around 3 percent. No reason to upgrade if primary and even for secondary, you can rent out and have positive cash flow. Honestly, even sold, there isnt much cash left on the table after mortgage is paid. Not worh it. Yep.... ideally we'd like to move, but within the same general locale. Our current home is fine, and we are just fine staying here another 20+ years...... but in an ideal world we'd like something a bit different. But trading in a 2.5% rate for a 5.5-6% rate is completely un-appealing.... considering we'd be moving up a decent bit in home/ price point, as well. So we will be staying put, even though we'd like move up a no...
by rascott
Thu Sep 01, 2022 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Tough Situation - Advice Requested
Replies: 40
Views: 7332

Re: Tough Situation - Advice Requested

You are in a precarious position if the economy and real estate market take even a minor nose- dive. I would look at selling the house immediately.
by rascott
Wed Aug 10, 2022 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Is the best time to upgrade house during a down market?
Replies: 23
Views: 2579

Re: Is the best time to upgrade house during a down market?

Typically yes.... only because market for higher end homes usually becomes softer in economic downturns than mass- middle market ones. Assuming you have a desirable, moderately priced home.... it will still sell quickly.
by rascott
Mon Jul 11, 2022 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Severe Case of Seller's Remorse
Replies: 84
Views: 16330

Re: Severe Case of Seller's Remorse

Sounds like you dodged a bullet. If you had purchased a new construction in this beach town you don't like at elevated prices, you'd be either stuck or facing even more financial strain.

I'd take a deep breath, and figure out where in this big world you want to live. Then get out of where you are and get there.

A lot of people would be envious of your complete freedom.
by rascott
Fri Jul 08, 2022 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Management Fee is 45% for Condo Rental
Replies: 41
Views: 5603

Re: Management Fee is 45% for Condo Rental

For resort type rental condos, mgnt fees I have seen run anywhere from 25-50%.

The ones at the higher end, are typically higher- end resorts and the guests get a lot of amenities and such included. In addition, this covers housekeeping and check-in services, similar to checking into a hotel. These places typically handle have higher level marketing, as well.

The cheaper ones are more traditional property managers, where the guests likely don't even interact with anyone, outside of a problem issue. They are given instructions on how to access the property upon their check in/ check out, etc....
by rascott
Thu Jul 07, 2022 10:42 pm
Forum: Investing - Theory, News & General
Topic: Riding HEDGEFUNDIE’s excellent adventure
Replies: 367
Views: 98193

Re: Riding HEDGEFUNDIE’s excellent adventure

I was in this for a while when it first started
Dumped out in the Covid era when bond yields defied logic.

[Political comment removed by moderator oldcomputerguy] Bonds appear to be getting back closer to a normal world, I may start dipping back in.
by rascott
Thu Jul 07, 2022 10:38 pm
Forum: Investing - Theory, News & General
Topic: [Allan Roth -- Why stay at Vanguard?]
Replies: 116
Views: 11755

Re: Why stay at Vanguard?

I'm slowly consolidating everything to Fidelity.

If there are complaints about them, I've missed them. In my view they seem the best run firm in the space. Schwab maybe right there with them.
by rascott
Tue Jun 21, 2022 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I be able to afford real estate?
Replies: 45
Views: 4461

Re: Should I be able to afford real estate?

No I don't think you can afford a $350k house at your income and with a household of 5. You are sure there is nothing under $350k? What area of the country? I did a 30 minute radius on Zillow, which encompasses everything from the border of our major city out to the "boonies." The cheapest 3 bedroom is $275,000 right now. There are some 2 bedroom houses for $220k. To move into the city border directly would at least triple our car insurance and I'd be paying city income tax. Those houses are in the $150k range and are plentiful for sale for a reason. It's extremely poor in terms of schools and quality of living. Urban food desert situation, everyone has to drive out to the suburbs to shop. You couldn't give those houses away a fe...
by rascott
Tue Jun 21, 2022 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I be able to afford real estate?
Replies: 45
Views: 4461

Re: Should I be able to afford real estate?

No I don't think you can afford a $350k house at your income and with a household of 5.

You are sure there is nothing under $350k? What area of the country?