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joec
ParticipantBeing someone who used to sell and trained to sell it (not very successfully unfortunately however), I think most people who lives to an older age will probably use this type of insurance eventually…
Downside is what was already mentioned by flyer and cost. Since it’s an insurance that many people will probably use, a lot of Insurance companies have been getting out of the market and there are very few options for people. The premiums are also insanely expensive and since it’s so far away, most people just hope they die quickly or depend on the state (Medi-Cal). Please note also that in-home care (I don’t think) is covered by Medi-Cal so if you need help, you’d have to pay up.
Note that cost per month for staying at a decent LTC facility can run several thousands a month and I’ve had family who were in nicer ones for over 8k per month or more…
The pistol plan sounds like a good one and one I’d like as well.
ParticipantAs I’ve posted in other threads, if you’re starting a business without the funding you read about with angel investors and silicon valley venture capitalists (which is probably most non-tech businesses and probably 99% most businesses in America), it’s extremely hard to come up with hundreds upon hundreds of thousands in cash to start anything. This is usually my reason that if you have low low debt, maybe it’s better to keep it than to pay it off since hardly anyone is going to give you an easy loan to start a business.
Whether that’s a small franchise business or a taco shop or a dry cleaning operation… anything, once you’ve started a business, you’ll realize that cash flow and capital is king.
Since you need funding and most are major hassles, slow, etc…tapping home equity and 401ks are a no brainer. Not to mention the interest rate is tons lower. A lot of people also tap credit cards and balance transfers which I believe the google execs did as well. Here’s an article and quote…
http://www.entrepreneur.com/article/197848”
Reluctant to leave their studies, the duo ran the operation out of their dorm rooms. But by mid-1998, Google was getting 10,000 searches a day; so, finally convinced, they maxed out $15,000 worth of credit cards to purchase a terabyte of disk space and drafted a business plan.
”Having done the 401(k) loan route before as well as credit cards, it’s definitely an EASY way to get fast funding.
Obviously, if someone is nice enough (or stupid) enough to invest 50-500k, most of us would go that route since it’s much better to use other people’s money than your own to get rich (the GoPro founder loss like 4 million of other people’s money during the Internet crash). I think I read it was 4 mil…
http://en.wikipedia.org/wiki/Nick_Woodman
“After school he founded a marketing company called funBug but after it did not succeed, in 2002 at the age of 26, he decided to travel around the world surfing.”
On GoPro, he had rich parents help him
http://blogs.wsj.com/venturecapital/2013/06/20/how-family-ties-helped-nick-woodman-make-gopro-click/“Woodman and his future wife Jill financed the business by selling shell necklaces they bought in Bali (for $1.90) from their car along the California coast (for $60)[8] combined with $35,000 borrowed from his mother[7][8] and $200,000 borrowed from his father.”
Nick’s father is wealthy living in Atherton I believe and he had the option to take time off to just “Surf”…
Anyways, most of us don’t have a daddy who can give us a loan for 200k+ to start a business.
One of the “problems” and inequality in America…where if you aren’t well connected, good luck trying to succeed in making it big.
As a worker bee who used to max his 401k and believed the whole never touch retirement assets, home equity, etc…sometimes, you just don’t have the choice if you want to start a business.
Once you do, you’d understand that there are worst things than raiding the retirement account I suppose…
ParticipantHmm, we’re looking to just to just see what our kids are good at and go from there…Probably lean towards baseball, basketball depending on their likes since you really need the kid to really want to play it or practice it vs. forcing them since they’ll give up against someone who likes it more.
Actually, what I would really want some info on is cart racing for young kids? Anyone have links or info on that?
I’m hoping we can try to be like the Jeremy Lin parents and just force them to do well enough in school to get to a great college, but still play ball throughout and be good enough to have more fun/options in life…
Heard Lin may end up being a Laker now?
ParticipantI would have to echo SD R as well and as recommended to the bay area person moving, you really can’t substitute renting for a year first to get a very good idea of what’s important to you and what areas are here.
Ultimately, you’d have to make concessions somewhere so being able to visit areas for lunch each weekend and just hang out and read the news, live life, etc…would give you a much better impression of what actually is important to you.
I have no knowledge of a ton of areas mentioned so others can share more, but since you may purchase and stick around the area for the next 15 years or possibly retire here due to the weather/comfort/more space possibly than NY, it’s worth it to rent and after you are here, get more detailed info of specific places you see/visit.
Sucks to move again of course…but still, leave most things in boxes and hire help and it’s pretty fast actually.
Participant[quote=Happs]This article is from yesterdays San Jose Mercury News. Developers are struggling to keep up with new home demand in the Bay Area. Not everyone wants an old house, and there are plenty of them in the Silicon Valley. I say ease restrictions to lessen the new housing shortage.
As someone who likes new houses as well with their better insulation, cat5e/cable jacks and wiring everywhere, higher ceilings, double pane windows, etc etc etc…I think this is true for a lot of dual income professionals who don’t want to and don’t have or want to use their time to “fix up” a starter home…
Even with income in the 300k range, I think very nice/comfortable/big Bay Area housing is going to be out of reach for many. Especially compared with most anywhere else in the country.
They just aren’t building anymore land in the bay area and looking at these articles and having looked for homes in the past there, there’s practically NOTHING new really…Other than the old racetrack they mention in San Mateo, I don’t think any location mentioned would be considered bay area to most snobby bay area folks.
Paying insane amounts for small plots of land also sound very risky if there will ever be a downturn.
ParticipantWelcome bay area person to this forum…I think it’s the most helpful housing forum if you’re looking to move to SD.
I’d recommend you actually rent a place first and just live with “throwing money in the toilet” for at least a year to see how the job turns out to be and how you like/dislike the area…
I think quite a few people here have lived/worked in the bay area as well to give you possibly a more objective comparison.
No idea on Clairemont from me.
ParticipantI have a generic mesh type chair from Staples…Wish I could afford an Aeron considering how much I sit and work all day, but can’t justify spending that much just yet…
The mesh chairs seem more “cool” to me since air can escape from the bottom.
They aren’t as soft to the touch though. In this hot weather, I’d prefer them though.
Participant[quote=The-Shoveler]Sprawl happens, get used to it.
It is even happening is San Jose area like it or not just look to the north, east, and south, new tract homes going up all over.We just need to do a much better Job at mass-transit.
And I am not talking about that stupid high speed rail project. I am talking metro lines.[/quote]I don’t know, having lived in the bay area pretty much my whole life, I never actually ever considered “San Jose” as Silicon Valley. They maybe building homes 1.5 hours out in Gilroy or further out, but I’d guess most people who work and play in SF, Palo Alto, Peninsula really don’t even consider San Jose as tech anything…
To me, it’s mostly just from SF down to Santa Clara…Having also shopped for homes in the past there, most new places I saw were very small, triple levels, etc…
Participant[quote=spdrun]I can understand the environmental aspect, but you’re speaking as if SF home prices are a good thing for anyone other than entrenched baby boomers and specuvestors.[/quote]
Yeah, certain areas have been and always will be insanely expensive…SF especially. I want it to stay high or keep going up since my parents have places. It probably won’t end up helping me and I’ll just be pissed after, but who knows, maybe they will decide to throw me a bone after they have left this world…
Certain parts of Santa Clara County wasn’t expensive before the tech boom and those people made tons if they had multiple rental properties. Place like Cupertino is amazingly expensive to me since it’s not near water, pretty hot, and nothing special to me…Course, Apple is there…
We need an Apple in SD to drive property values insane over the next 15 – 20 years when I sell.
ParticipantHaving Tahoe so close is awesome as well…You can take ski buses which leave early in the morning, drive you to the slopes at first open, you ski and play all day, come back early/late afternoon and get home and can still have a nice dinner out after a shower…
I’m generally not a fan of San Francisco city itself, but the bay area, I feel generally has better weather (not as hot) than LA or SD (IMO) and as most people say, just a lot more amenities that people seem to value.
SD might get there if we had more companies coming here since we’re a lower cost alternative to the bay area as quite a few people here used to live there…We do have all the nice theme parks here, just need another QCOM or something here really.
Participant[quote=patb]It’s a bubble here in DC.
I just think that when prices are hitting in the millions it will start
choking SFO>Lets say you are some mid sized company do you want to find yourself in
the arms race with google and Apple?people who are retired, it may be time to bail.
If i owned a shitbox near the zoo and could sell it for $2 Million it may
be easier to bail and buy something in Denver.[/quote]The problem with this way of thinking is that for people to bail, they would need to want and need to bail. People who bought years ago aren’t stressed that prices are high.
I have tons of family and friends in the bay area and no one is moving because all their family and friends are there too. If you bought already, you are, again in NO RUSH to sell. If prices go up higher and is more crazy, you feel great! If prices crash and go down, you’re still doing perfectly fine since you were able to afford your mortgage 10 years ago, you can still afford it now and it’s unlikely to CRASH (> 30-50% declines). Rents are just way too high for that to happen and as mentioned in here and numerous news outlets, rents are more expensive than buying in some markets…Maybe not SF in the city, but that place has probably rarely penciled out due to rent control, etc….
The people who should leave are young, poorer people who can’t get ahead due to housing costs. After you have a place to live, most other services in the bay area isn’t that much more than any other place in America…
In the end, the wish for a housing crash is just that, wishful thinking…on most of our parts…or not…
As for moving, some people just don’t want to leave their friends/family/job, etc…money is clearly not everything for the people with it.
ParticipantYea, being from the bay area and growing up there, I really wouldn’t be worried with the housing prices or rush to sell. I think anyone who held on in San Francisco is sitting on massive profits and San Francisco, on the West Coast at least is probably considered the premier/BEST property market in the west. It obviously tops Seattle, San Diego, most parts of LA other than extreme coastal I believe due to what they offer.
I know my dad has sold places in the past which have now gentrified in SF and is probably selling for double now or even more. Everything he has purchased is way up I believe.
There really is little/no building other than small lot places if any is built and good luck with prices. You have 2 bedrooms apt even in Santa Clara / San Mateo counties going for insane prices for month. There’s also just way too much money there with every tech company having to be there (or most at least).
If I had property and I bought years ago, I’d just sit and I will be very comfortably just renting it all out…
I’m sure SF proper is far more resilient than near every place in the US (probably more than NY too due to low number of wall street types)….
Edit: Just for fun, I looked for the 1 bedroom apt I rented on the Peninsula area and the rent is now over 2k/month for 1 bed 1 bath. It’s DOUBLE than what I paid and this used to be a pretty bad area (relatively)…
Heck, it’s probably near 3k for 2 bed and that’s already more than my mortgage already now.
This is also why housing prices can’t go down since I’d assume for some people, if you aren’t making the IPO bucks, you might get old and tired and want a larger place for more comfortable lifestyle.
ParticipantI’m up maybe 1-2% over index from my last check…Sold a lot of stuff the last week since I needed some cash and things still go up.
Plan to just sit and wait it out and think it goes higher maybe for up to a year or 2. I don’t claim to know. Still invested in some dividend payers though (things I bought just for income/dividend) and things which I feel are less likely for me to panic sell (like utilities/cellphone company (verizon)).
With no place else to put their money, this market doesn’t or won’t be going down I don’t think until something unexpected changes.
One thought I’ve heard recently is maybe the “bubble” is thinking the fed (Yellen) Put will work.
If her put option is really no option and doesn’t work, then everyone who thought they were protected from the Fed will panic and sell.
ParticipantI actually thought Brian said that not everyone was the same so some people may have to do other things as well…
I suppose, and again, maybe you aren’t saying this, but it just sounds like to me that you’re saying some people are just hopelessly fat and will never ever no matter what they do will lose the weight.
Diet, exercise, nothing no matter what will work since these people have tried that and I’ve seen it with my own eyes and they are just genetically fat and can’t do a thing.
I’d say that if you took this person and moved them, say OUT of America, put them on some Rice farm in Asia, I can bet my left leg that after some time living like these villagers, he or she WILL lose weight.
No meats, all veggies and fish, work in the fields…after 1 year, you are guaranteed to see improvement…Maybe think of it as slave labor to lose the weight, but I find it hard to believe that anyone can be overweight in that type of food/work environment.
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