[joec]

I didn’t read most of this thread so if this was mentioned, I apologize. Sorry to hear about your situation, but agree with tg that selling and moving on is probably the best long term outcome for the reasons described.

I wanted to also mention that instead of doing a 401(k) withdraw, see if you can take a 401k loan instead. I’ve done it before myself.

The loan is easy and most places let you fill out the form online. You pay interest to yourself, there are some minor fees, but it will buy you some time (up to 5 years I think). In most cases, you can tap up to 50k or up to half your 401(k) balance.

Major major risk is if you leave your job, you may have to pay the loan back immediately or you face penalties and taxes.

However, that’s nothing new if if you were planning to withdraw it anyways for your situation.

I agree with the other posters, you should probably just cut out your ex-in laws and learn that with money received, there are usually strings attached so closing out that note will close that problem and not have to deal with them anymore.

Lastly, on the “pay taxes with after tax money” when using a 401k loan, that is not true. I used to think the same thing, but here’s a more detailed description of it here:

Better Example Against Double-Taxation Of 401(k) Loans

Best of luck!

[joec]

I didn’t read most of this thread so if this was mentioned, I apologize. Sorry to hear about your situation, but agree with tg that selling and moving on is probably the best long term outcome for the reasons described.

I wanted to also mention that instead of doing a 401(k) withdraw, see if you can take a 401k loan instead. I’ve done it before myself.

The loan is easy and most places let you fill out the form online. You pay interest to yourself, there are some minor fees, but it will buy you some time (up to 5 years I think). In most cases, you can tap up to 50k or up to half your 401(k) balance.

Major major risk is if you leave your job, you may have to pay the loan back immediately or you face penalties and taxes.

However, that’s nothing new if if you were planning to withdraw it anyways for your situation.

I agree with the other posters, you should probably just cut out your ex-in laws and learn that with money received, there are usually strings attached so closing out that note will close that problem and not have to deal with them anymore.

Lastly, on the “pay taxes with after tax money” when using a 401k loan, that is not true. I used to think the same thing, but here’s a more detailed description of it here:

Better Example Against Double-Taxation Of 401(k) Loans

Best of luck!

[joec]

I didn’t read most of this thread so if this was mentioned, I apologize. Sorry to hear about your situation, but agree with tg that selling and moving on is probably the best long term outcome for the reasons described.

I wanted to also mention that instead of doing a 401(k) withdraw, see if you can take a 401k loan instead. I’ve done it before myself.

The loan is easy and most places let you fill out the form online. You pay interest to yourself, there are some minor fees, but it will buy you some time (up to 5 years I think). In most cases, you can tap up to 50k or up to half your 401(k) balance.

Major major risk is if you leave your job, you may have to pay the loan back immediately or you face penalties and taxes.

However, that’s nothing new if if you were planning to withdraw it anyways for your situation.

I agree with the other posters, you should probably just cut out your ex-in laws and learn that with money received, there are usually strings attached so closing out that note will close that problem and not have to deal with them anymore.

Lastly, on the “pay taxes with after tax money” when using a 401k loan, that is not true. I used to think the same thing, but here’s a more detailed description of it here:

Better Example Against Double-Taxation Of 401(k) Loans

Best of luck!

[joec]

One thing with the securities industry specifically is that if you’re barred/banned, there is a record for pretty much the rest of your life I think. I can look up folks who I worked with (used to be in that industry) and see that they filed for bankruptcy, tried to engage in some illegal co-investing, got arrested for a felony and the result of it, etc…

It’s still a ton better than what’s out there for the real estate industry.

Lastly, like all industries, there are bad apples everywhere…even in our own families

[joec]

One thing with the securities industry specifically is that if you’re barred/banned, there is a record for pretty much the rest of your life I think. I can look up folks who I worked with (used to be in that industry) and see that they filed for bankruptcy, tried to engage in some illegal co-investing, got arrested for a felony and the result of it, etc…

It’s still a ton better than what’s out there for the real estate industry.

Lastly, like all industries, there are bad apples everywhere…even in our own families

[joec]

One thing with the securities industry specifically is that if you’re barred/banned, there is a record for pretty much the rest of your life I think. I can look up folks who I worked with (used to be in that industry) and see that they filed for bankruptcy, tried to engage in some illegal co-investing, got arrested for a felony and the result of it, etc…

It’s still a ton better than what’s out there for the real estate industry.

Lastly, like all industries, there are bad apples everywhere…even in our own families

[joec]

One thing with the securities industry specifically is that if you’re barred/banned, there is a record for pretty much the rest of your life I think. I can look up folks who I worked with (used to be in that industry) and see that they filed for bankruptcy, tried to engage in some illegal co-investing, got arrested for a felony and the result of it, etc…

It’s still a ton better than what’s out there for the real estate industry.

Lastly, like all industries, there are bad apples everywhere…even in our own families

[joec]

One thing with the securities industry specifically is that if you’re barred/banned, there is a record for pretty much the rest of your life I think. I can look up folks who I worked with (used to be in that industry) and see that they filed for bankruptcy, tried to engage in some illegal co-investing, got arrested for a felony and the result of it, etc…

It’s still a ton better than what’s out there for the real estate industry.

Lastly, like all industries, there are bad apples everywhere…even in our own families

[joec]

An old topic, but I’ve been away from the forums for a long time (real busy now). I was wondering about being ahead academically like this for elementary/middle/high school and whether it helps in life/college overall?

Reason is because if your kid already knows the stuff, will his/her brain not try to learn as much and they develop a sense of over confidence?

…Or, did they already go through that process learning it the first time so nothing is really loss?

Reason is because once you get to probably late high school and college, it’s pretty much impossible now to be ahead of the class (at least in math/science).

When I was young, I took spanish, did advanced math before any of the school stuff and did well and all that and went off to UC engineering and graduated (not great GPA, but that was probably me goofing off), but does the above formula actually hurt you in trying to “think” or “learn” as much since you already know what they are teaching?

I guess the main question is does it help more to have a limited amount of time to learn something and keep reinforcing that yearly rather than try to be ahead and just not learn in school…

Hope this makes sense. 🙂

[joec]

An old topic, but I’ve been away from the forums for a long time (real busy now). I was wondering about being ahead academically like this for elementary/middle/high school and whether it helps in life/college overall?

Reason is because if your kid already knows the stuff, will his/her brain not try to learn as much and they develop a sense of over confidence?

…Or, did they already go through that process learning it the first time so nothing is really loss?

Reason is because once you get to probably late high school and college, it’s pretty much impossible now to be ahead of the class (at least in math/science).

When I was young, I took spanish, did advanced math before any of the school stuff and did well and all that and went off to UC engineering and graduated (not great GPA, but that was probably me goofing off), but does the above formula actually hurt you in trying to “think” or “learn” as much since you already know what they are teaching?

I guess the main question is does it help more to have a limited amount of time to learn something and keep reinforcing that yearly rather than try to be ahead and just not learn in school…

Hope this makes sense. 🙂

[joec]

An old topic, but I’ve been away from the forums for a long time (real busy now). I was wondering about being ahead academically like this for elementary/middle/high school and whether it helps in life/college overall?

Reason is because if your kid already knows the stuff, will his/her brain not try to learn as much and they develop a sense of over confidence?

…Or, did they already go through that process learning it the first time so nothing is really loss?

Reason is because once you get to probably late high school and college, it’s pretty much impossible now to be ahead of the class (at least in math/science).

When I was young, I took spanish, did advanced math before any of the school stuff and did well and all that and went off to UC engineering and graduated (not great GPA, but that was probably me goofing off), but does the above formula actually hurt you in trying to “think” or “learn” as much since you already know what they are teaching?

I guess the main question is does it help more to have a limited amount of time to learn something and keep reinforcing that yearly rather than try to be ahead and just not learn in school…

Hope this makes sense. 🙂

[joec]

An old topic, but I’ve been away from the forums for a long time (real busy now). I was wondering about being ahead academically like this for elementary/middle/high school and whether it helps in life/college overall?

Reason is because if your kid already knows the stuff, will his/her brain not try to learn as much and they develop a sense of over confidence?

…Or, did they already go through that process learning it the first time so nothing is really loss?

Reason is because once you get to probably late high school and college, it’s pretty much impossible now to be ahead of the class (at least in math/science).

When I was young, I took spanish, did advanced math before any of the school stuff and did well and all that and went off to UC engineering and graduated (not great GPA, but that was probably me goofing off), but does the above formula actually hurt you in trying to “think” or “learn” as much since you already know what they are teaching?

I guess the main question is does it help more to have a limited amount of time to learn something and keep reinforcing that yearly rather than try to be ahead and just not learn in school…

Hope this makes sense. 🙂

[joec]

An old topic, but I’ve been away from the forums for a long time (real busy now). I was wondering about being ahead academically like this for elementary/middle/high school and whether it helps in life/college overall?

Reason is because if your kid already knows the stuff, will his/her brain not try to learn as much and they develop a sense of over confidence?

…Or, did they already go through that process learning it the first time so nothing is really loss?

Reason is because once you get to probably late high school and college, it’s pretty much impossible now to be ahead of the class (at least in math/science).

When I was young, I took spanish, did advanced math before any of the school stuff and did well and all that and went off to UC engineering and graduated (not great GPA, but that was probably me goofing off), but does the above formula actually hurt you in trying to “think” or “learn” as much since you already know what they are teaching?

I guess the main question is does it help more to have a limited amount of time to learn something and keep reinforcing that yearly rather than try to be ahead and just not learn in school…

Hope this makes sense. 🙂

[joec]

[quote=Scarlett]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.[/quote]

Over the years, I’ve looked at plenty of houses in the bay area and here and finding a place you actually want to live in is incredibly hard.

I’ll just add that this issue will probably be the biggest problem so if you are lucky enough to find that place, I’d jump on it since there are plenty of “regret” messages here already for those who missed their dream home.

In regards to when the bottom is, again no one knows, but enough piggies have bought already to make me feel it’s close enough and I’m sure plenty of the folks here are smarter than me.

I’m sure after looking at a ton of homes, you sorta know within 1-3 minutes of walking into a place if you can even consider a place home so if you’re ready, start looking now and just find a place you really like for the long term.

Good luck.

[joec]

[quote=Scarlett]

Not that it matters, but yes we have a lease until late spring, after which we’ll go month to month. Right now we are going when we have time – a couple days a month – to advertised open houses or to explore different neighborhoods. We’ll start looking more actively very soon though and if we find something that we like and it’s a good deal, we may break the lease a couple months early, no more. As a matter of fact I am still wondering if we should continue to rent for another year or two- and save more (if we put now 20% down we won’t have any cash reserves) and have a sweet commute in the mean time – and let the house market dust settle. I believe that the housing market will be lower in a couple years, even if rates will be higher. I am not trying to argue this or connvince anybody, just my gut feeling. I am wondering if I should be waiting for a true bottom, not necessarily for the lowest rates, which I believe we’ve seen already. Not that I want to time the bottom, I’d rather have the housing bottom behind us rather than possibly ahead, that’s all. On the other hand, we got to get on with our lives, settle in a nice house with yard and good schools, risks and stretching be damned. And who know with all this government intervention if the true bottom will even be reached in a couple years, if it’s not there already. It could be a slow decline over 10 yers.

But, to your point, in a few months we will be ready to pounce on a good deal that we LIKE as well. So far we haven’t seen something that we both loved as a deal as well as a home. Quite a few ok, but they weren’t calling our names.[/quote]

Over the years, I’ve looked at plenty of houses in the bay area and here and finding a place you actually want to live in is incredibly hard.

I’ll just add that this issue will probably be the biggest problem so if you are lucky enough to find that place, I’d jump on it since there are plenty of “regret” messages here already for those who missed their dream home.

In regards to when the bottom is, again no one knows, but enough piggies have bought already to make me feel it’s close enough and I’m sure plenty of the folks here are smarter than me.

I’m sure after looking at a ton of homes, you sorta know within 1-3 minutes of walking into a place if you can even consider a place home so if you’re ready, start looking now and just find a place you really like for the long term.

Good luck.

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