[UCGal]

[quote=Allan from Fallbrook]BG: Well, c’mon, anyone who is anyone lives in Fallbrook![/quote]
BG is right. LOL. It’s development services he’ll be dealing with if he’s in the boundaries of the City of San Diego.

Advise for hiring a contractor.

– Check their license status on the CSLB website.
https://www2.cslb.ca.gov/OnlineServices/CheckLicenseII/checklicense.aspx

While you’re on there – click on the bond history. If you see a change in bond companies, in the middle of a n annual period – this is a potential red flag. It indicates their old bond company might have paid out and cancelled them. Ask direct questions and verify the answer they give you.

Also while you’re on there – look to see if they are paying workers comp. If they claim they have no employees – but they are telling you to talk to their staff… that means they are skirting the rules… if they are fast/loose with these rules, it’s a red flag that they might ignore other rules/laws.

Now check to see if they’re being sued, or have recently been sued.
http://www.sdcourt.ca.gov/portal/page?_pageid=55,1&_dad=portal&_schema=PORTAL
Click on the find a case link – check their corporate name, their individual name, etc. If they are involved in any lawsuits – this is a possible red flag – ask pointed questions and verify their answers (by talking to opposing party if necessary).
(We would have saved a LOT of money if I’d followed this advice….)

Now – check their lien history. You’re looking for judgements against them (from suppliers, subs, etc). You’re also looking to see if they file a lot of mechanics liens. Both are red flags. Check both the individual name and the corporate name.
http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

Finally – make sure the contract does not call for arbitration. If the opposing party doesn’t pay their portion of the arbitration fees – you’re out of luck. Insist on having any contractual dispute resolution be handled in court.

(I learned all of the above the hard way. It was a very expensive lesson.)

As far as estate attorneys… I recommend Christina White (nee Krywucki) of Ruyle and Brewer law firm.
Christina K. White
(619)-291-5958 ext #4
[email protected]
http://www.rr-lawyers.com/attorneys_Christina.htm

Our family has used her to set up trusts, probate estates, etc.. She’s excellent about advising on tax issues with estates.

[UCGal]

[quote=HLS][quote=matt] I am thinking about paying this off to #1 assure my family a roof over our heads should we ever need it, #2 call me conservative but a guranteed 4.75% for me is a decent return. [/quote]

Nothing wrong with being conservative. Don’t ever let anybody talk you into taking risks that you aren’t comfortable with.

Due to your circumstances, just realize that equity in your home is trapped if you cannot qualify to refi.
Weigh giving up cash vs. having a huge cash cushion. Paying off debt comes at a cost.

Many seniors are house rich but cash poor.
Even with a $1 million dollar home owned outright they may not qualify for a $200K loan. The system is broken.
They may have the option of a reverse mortgage to be able to get some cash, but I am not a huge fan of this loan. It’s another govt creation.

*I may be able to help you with a refi if you’d like to contact me privately. Your situation is unusual and I need more details.[/quote]

Many lenders will lend if you can show an income stream from your investments. If the senior has investments in IRAs – and sets up systematic (monthly, annually, some automatic period) withdrawals – that can be used to qualify.

There is a lot of talk about this on the website http://www.early-retirement.org/forums/

For younger folks – consider if you want to continue to pay a mortgage after you retire. I’m not in the younger age category – but not retired (yet). I know my projected retirement budget works a LOT better without the mortgage P&I in it. So we’ll be paying off the mortgage in the near term. I don’t understand how people expect to pay large mortgages on limited retirement income streams. But folks seem to be doing that. I’ve done my retirement projections both ways – and I can retire younger if I don’t have a mortgage (with a smaller nest egg).

[UCGal]

Congratulations – now to get the deal completed and renters in there.

[UCGal]

Paramount…. just wanted to offer empathy and commiseration. Me employer will get my 4th corporate entity in just a few years, this week due to split ups, and acquisitions…. each transaction has involved significant RIFs. Our latest buyer is leveraging so much that significant layoffs are inevitable in the near term.

You’re smart to be preparing…. if it happens you’ll be more ready… if you survive you’ll be in a good place financially.

Good luck to you in surviving the inevitable rifs.

[UCGal]

On the topic of hedge funds and bad real estate deals… Look at Stuyvesant Town in NYC and the big boys who bought it – then backed out of the deal, leaving CalPers, among others, holding the bag.

http://www.npr.org/2013/04/03/175511949/the-botched-ny-real-estate-deal-that-lost-other-people-billions

Not local… but it could happen on a smaller scale here.

[UCGal]

Isn’t this about 3 years too late?

Compared to a few years ago – the number of homes going to auction is declining. And the demand for inventory exceeds the inventory.

[UCGal]

[quote=paramount][quote=UCGal]Interesting stereotype.

We have a truck, but it’s garaged. Does that make us less redneck? Do small trucks only get a partial redneck – but the king cab, full size, duel wheel style ones give you a percentage more than 1 of redneck-ness?

Does the age of the truck matter? Is newer more redneck, or less?

Does having a redneck matter? Or just the vehicle?

What if the other family car is a hybrid – does that cancel the redneck factor?[/quote]

In my original post I admit it’s not a perfect system, but I don’t think it’s far off either.

I would add +1 or +2 for a lifted truck or a dually.

As far as your situation is concerned, I’d say you’re redneck based on the defensive nature of your post – not b/c of your truck. And if I’m not mistaken don’t you live in Clairmont?

Small nissan or toyota type “pickups” are not real trucks – I wouldn’t count them in the ratio.[/quote]
Don’t live in Clairemont… but I am Clairemont adjacent. (UC in my name is a BIG hint.)

Didn’t think I was being defensive. I thought I was being inquisitive. I’m a redhead… didn’t know I was a redneck also. I learned something new today.

[UCGal]

Interesting stereotype.

We have a truck, but it’s garaged. Does that make us less redneck? Do small trucks only get a partial redneck – but the king cab, full size, duel wheel style ones give you a percentage more than 1 of redneck-ness?

Does the age of the truck matter? Is newer more redneck, or less?

Does having a redneck matter? Or just the vehicle?

What if the other family car is a hybrid – does that cancel the redneck factor?

[UCGal]

[quote=no_such_reality]This item is back in the news today with a new study showing that care for the elderly with dementia is far more costly than caring for cancer or heart disease. Dementia tops costs

As the next generation retires we’re going to have a real crises as the broken families leave only the industrialized care system to provide the necessary care.[/quote]
dementia is a big issue. It’s harder for families to take care of their elderly relatives at home because dementia sometimes comes with anger, violence, security issues, etc.

Our neighbor cared for his wife for more than a decade before finally having to put her in a home. She would “sundown” and sometimes became violent. She could not be left alone at any time. (So if he had a doctors appt he’d need to get someone to stay with her.) I admire him for hanging in as long as he did. Not many people would.

We’re dealing with milder issues in our family… trying to come up with a plan that doesn’t include a nursing home – but coming to the realization that a dementia lock-down facility may be in the near future. It’s tough.

Dementia doesn’t necessarily result in near term death… so it can get quite expensive if nursing home or assisted living facilities are needed.

[UCGal]

[quote=spdrun]Tile. Fiberglass just feels cheap and oogy.

Here’s an idea, though. If you’re re-doing the bathroom, build a sealed pan with a slight lip at the entry door, and a slight drop towards the shower, and the drain at the lowest point. Tile over the sealed pan. No need for a shower stall at all, though you can keep glass walls for effect.

Shower stalls are an outdated idea in my book.[/quote]
What you’re describing is a “wet room”… or accessible shower.
(We put that in for our ADA compliant granny flat since my father in law is in a wheelchair…)
Good shower curtain (or frameless glass) is necessary to keep the toilet paper dry. 🙂

[UCGal]

[quote=The-Shoveler]Beck’s and heineken were the beers of choice back then
(in the 70’s).

No one would be caught dead with a bud in their hand at the disco.

but yea a Corona would set you back 4 bucks even back then at the bar, beck’s maybe 5 or 6.[/quote]

Definitely Becks and Heineken in the 70’s. Corona’s you had to go to Hussongs. It was the house beer of Hussongs, and you couldn’t buy it stateside. I remember in 1979 being with friends who were hauling several cases back after a weekend spent drinking at Hussongs and camping on the beach. (You only had to be 18 to drink in Baja – so I could drink legally… down there.)

[UCGal]

[quote=paramount][quote=UCGal]

They all drive newer cars, eat lunch out every day, and haven’t pinched a penny in their life. [/quote]

So it sounds like they’re enjoying life and don’t have a lust/love for money under the cover story of I’m saving for retirement.

There’s nothing normal or natural (or even healthy) about retirement – this is a wall street propaganda article.

Wall Street banksters and the feds are robbing us blind.

You’ve been programed and brainwashed and don’t even know it.[/quote]

Sorry I didn’t get back to this thread sooner. I was off living life on a long weekend in NOLA (despite being a saver/investor.)

It’s possible to be a saver, and still live within or below your means…

I guess if looking forward to free time in retirement is a brainwashed idea… I’m brainwashed.

paramount – I’m not sure what you have against me. Can we just agree to disagree? You’re harshin’ my buzz, dude.

[UCGal]

That is awesome.

Westboro Baptist is such an extreme group – they’ve chosen to focus on hate, rather than love and compassion.

[UCGal]

[quote=earlyretirement]
The sad thing is I don’t think people are getting this “wake up call”. Everyone keeping hitting the “snooze” button and wants to sleep in. It’s not going to be pretty.[/quote]

I agree – I talk to coworkers who are in their 40’s/50’s who feel good because they invest “just enough” to get the company match. It will be hard to retire if you only save 6% of your income.

All have the same answer – “I don’t plan to retire… I’ll just keep working”.

Apparently they are also oblivious to the trend of laying off older workers in favor of hiring fresh grads, contractors, and H1B types…. assuming the job/department isn’t offshored.

They all drive newer cars, eat lunch out every day, and haven’t pinched a penny in their life. If their plans work out – they’ll be working in their late 60’s or early 70’s. I save like crazy, pinch pennies, brown bag, drive older paid for cars… And hope to retire in less than 5 years. Sooner if the market continues on a tear like it has this year. (Not counting on that.)

I hope it works out for them.

[UCGal]

[quote=poorgradstudent]I don’t agree with him on many issues, but I respect him for actually talking during his old-timey filibuster. Clever move to draw attention to his political position.[/quote]
I agree. Rand Paul and I don’t see eye to eye on much of anything. But this is an important issue, and the fact that he’s respecting the Senate by having gone old school with a talking fillibuster ups my respect for him.

[Author]

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