[Coronita]

[quote=Blogstar]I am not ready to blame arsonists and am sure Horn shouldn’t have stirred up that pot on television at this time. Could be of course, but there are lots of ways for these things to start. Poor preparedness by the county and utilities could be something not to deflect away from so soon.

Easy for a string of impulsive unrelated copy cats to get a fire bug thing going though. The terrorist have dropped the ball by not jumping on the opportunity…not that I want them too….but they couldn’t screw us more easily. I would think there are better areas to start fires that have a chance of becoming massively destructive , so that kind of rules organized terrorism out .[/quote]

I don’t know. But given the magnitude of the fires and the number of them yesterday, I thing the county did a pretty good job dealing with them versus what happened years ago…

It’s really unfortunate some people lost their homes. But I think the numbers were still much lower than before….(I know, we’re still in the fire season)…

[Coronita]

I could make a political joke right now, but I’ll refrain… 🙂

I think the argument for this is that well, illegal immigrants are going to be here anyway, and they are going to be here anyway driving unlicensed and uninsured… So they might as well be documented and insured anyway.I’m not suggesting that I agree with that or disagree. But that seems to be one of the arguments supporting this…It’s really no different than allowing undocumented folks to attend public schools (and get reduced state-residence tuition), go to the hospital, or other public resources here as well. It’s all the same imho…. And if voters and our politicians feel that that should be allowed, well it’s the will of the people then…

[Coronita]

I thought the fed already said this wasn’t going to be legal.

Only in Cali!

[Coronita]

Well, the second video wasn’t san diego specific..

The first one however is exactly why I have a 4800 lb CUV when transporting someone other than me….And when it’s me, I drive fast enough so people can’t catch me.

[Coronita]

[quote=UCGal]As far as I know you can’t do 529-Roth. For us – future contributions are going to Roth. The salary limitations have gone up and my husband retired so we’re *well* under the limit. (That’s good and bad… I guess.)

Have you looked at doing a backdoor Roth?
http://online.wsj.com/news/articles/SB10001424052702304104504579375432214126664

You could also do Roth conversions on your T-IRA.

The nice thing about Roth is you can withdraw penalty free for qualified education expenses… just like a 529… but it’s not limited to education like a 529 since you can also use it for anything you want once you reach 59.5. So any unused education $ can be used for retirement.[/quote]

Thanks for the info…Yes, I looked into doing a backdoor Roth.. Unfortunately, since I had multiple employers, and since I rolled my old 401k into a Rollover IRA, I won’t be able to do a backdoor IRA, because IRS would include my Rollover IRA into their calculation. I suppose I could rollover everything in my Rollover IRA into my existing employer’s 401k , and that would eliminate that problem. But that’s putting a lot of faith into my company’s 401k…. I don’t like my employer’s 401k as much as I like my Rollover IRA…

[Coronita]

[quote=The-Shoveler]I have not seen the crazy “no nothing” NINA loans yet.

without those you really are not going to get the hyper bubble IMO.[/quote]

You just wait…

[Coronita]

Seems to be burning toward RSF/FBR/SL… That’s just blows….

[Coronita]

[quote=UCGal][quote=flu]

I’ve been pretty happy with my kids 529 plan @ vanguard…. Passive indexes slow and steady.. I use the Nevada plan, since I don’t like the CA one that isn’t done by vanguard, and there is no state tax benefit with a 529 in CA
[/quote]
This – all of it.

That said – we’re switching our investment, this year, to ROTH IRA so we have more flexibility.

If they do Jr. College or don’t go to college, that can be used for our retirement.

We used to be income restricted, but that has changed and we qualify for Roth contributions again.[/quote]

I’m jealous….

I’m still a salary slave. Can’t do a Roth IRA….

To clarify, you mean that future contributions are to a Roth IRA… (You’re not rolling over funds from a 529 plan to a Roth IRA). I just want to make sure, because I want to make sure that 529->Roth IRA isn’t something you can do, right? If it is, I want to know about it:)

[Coronita]

The stock market these days is more like a casino.

Not that there’s anything wrong with it… But personally, I’ve seen the light and understand why one wouldn’t want to put everything in there….Especially as one gets older.

[Coronita]

I guess my purchase of FNMA worked out well 🙂

[Coronita]

[quote=rcfe]actually not. we have heard different theories of 529. main disadvantage is limited portfolio choice, poor performance and decreased chance of getting financial aid. We are not qualified for any aid anyway based on family income.[/quote]

I’ve been pretty happy with my kids 529 plan @ vanguard…. Passive indexes slow and steady.. I use the Nevada plan, since I don’t like the CA one that isn’t done by vanguard, and there is no state tax benefit with a 529 in CA

But like you, we wouldn’t qualify for financial aid anyway…So that negative is a non-issue.

I think the only drawback is if you have one kid and your kid doesn’t go to college……In my case, I would be screwed…

I would plan on property funding your retirement when you’re not working, no so much as funding your kid(s)’ education which is probably more of a nearer term….

I started put more emphasis on property simply because I had too much counting on the equity markets, so it was my way of diversifying. It’s not without risks too…So it’s not exactly “easy money”….

[Coronita]

[quote=rcfe]we have some cash to invest and I don’t need income from rental now. 10 years later, maybe. We have higher family income so tax break from rental is nice if possible. in 10 years, my kids will start college. It will be nice to help them with some rental income. Condo or SFR, not sure which has more advantages in our situation.[/quote]

I’m assuming you’re contributing to a 529 plan already then….

[Coronita]

[quote=Blogstar]If I were one of the lucky young people who bought a “starter home” at the bottom with a good down and good prices and maybe refinanced to an excellent rate…I would probably be considering renting that out and buying another house to live in.[/quote]

+1

[Coronita]

Come on now. It’s not Yellen’s/Bernanke’s fault..

You know who’s fault it is?

Facebook. That’s right. Ever since facebook spent $19billion for a shitty chat app in the 21st century…It proves the USD is worthless.

The value of $1billion means nothing to nobody anymore…

$1billion.. Pfff… That’s pocket change for companies like Facebook….

My house is probably worth $10 million using that valuation…

Oh wait. My house doesn’t include a shitty chat app… It’s only worth $10million if I it includes a shitty social media app.

(Yes, I’m jealous… Thank you very much)

[Coronita]

Where? In Mira Mesa? no…

Some friendly advice.. This sort of business isn’t something a person wakes up one day and says “hey , I want to buy a rental property and make money right away…”

It’s really a slow moving process, wait and see process….Especially right now….You won’t get rich overnight.. Look at it like you would look at a CD, with slightly higher returns…But also more risk (though people tend to underestimate that)….

You should spend your time getting familiar with the current prices of possible rentals in possible areas, and what people are paying for rent…..

[Author]

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