[UCGal]

So wait… You’re in charge of FLU, and he’s in charge of you….

I hope you return soon. Enjoy your break.

[UCGal]

[quote=earlyretirement]
I’m not so sure however that all the Boomers are in as good of a situation as you and your friends.[/quote]

I agree with this. There are a lot of boomers with mortgages, not a lot of retirement savings, and who cosigned for their kids college loans. Retirement is not so sure for them.

[quote=paramount]Most of you have been brainwashed by Wall Street and Madison Avenue propaganda.

1st of all, most people shouldn’t retire – stay active and work.

2nd, savings is paying 0% anyway (or close to zero).

Live while you’re young, screw saving money – most of it is harvested by wall street crooks anyway.

And then when wall street gives you what little is left, the Jerry Brown’s will take the rest for his cronies (govt workers, baby mommas, etc…).[/quote]

There are ways to “save” without it being interest free savings account. Diversification across asset classes is used to help mitigate the risks. So equities, bonds, real estate, gold & precious metals, pig futures… whatever fits your comfort level and risk level. The key is to divert some of your earnings to your future needs. This requires spending less than you bring in… living below your means. Planning for the future.

With modern medicine, etc the key is to have enough assets to cover your expenses after you can no longer work. Saying you’ll work till you die sounds great – but in reality – do you really expect to be still drawing a salary after you reach the state of early dementia, limited mobility, etc… At some point you have to have assets to support yourself.

I agree with living while you’re young. But pay your bills and save first – it’s the responsible thing to do. Live within or below your means. No one is *entitled* to live larger than their means.

I like to travel… so I bring brown bag lunches to work and drive older, paid for cars. That’s my personal choice for trade off. If I were a car person – I’d have a smaller travel budget or make cuts elsewhere. It’s all about finding balance within your budget to fit your needs and wants… but also recognizing that most budgets require some tradeoffs. (unless you’re Bill Gates’ or Warren Buffet’s kid.)

[UCGal]

Is this here in San Diego… or elsewhere.
A friend who lives in San Bernadino cty was watching a “friend”s home get foreclosed on. It was at the convention center, not courthouse steps.

But it was still an all cash deal.

[UCGal]

Can’t speak for others, but I’ll miss your posts, dude.

[UCGal]

I could be wrong on this (probably am) but I thought the courthouse steps one was to serve the “one and done” rules. So foreclosures where the foreclosed owner has not done a deed in lieue… It is an opportunity for anyone with cash (all cash) to bid on a foreclosed property. If the reserve isn’t met, it goes back to the bank and becomes an REO.

SD Realtor used to buy at these.

Perhaps the other auctions (private/hotel) are a way for the bank to get rid of their REOs. Get that shadow inventory off their books and not have to pay realtors fees. (I’m assuming an auction is cheaper than the realtor fees… again – I could be wrong… probably am.)

[UCGal]

[quote=no_such_reality]Well, the right answer is $100.

Yes, that’s right. $100.

If you had a savings account paying 2% over the last five years, you’re exactly breakeven with the official and artificially low inflation rate.[/quote]
But you are ahead of most passbook savings accounts.

[UCGal]

[quote=AN][quote=UCGal]
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )[/quote]
I see also new windows (not cheap), paint, bathrooms (assuming, since there’s no pix of bathroom from the before), probably patio sliding doors, interior doors, new light switches and outlets. My guess, they probably put in $30k? So that would be a pretty nice profit if they get their asking price.[/quote]
You may be right about the windows. I also notice it’s got new garage doors. (the new ones have lights in them.)

I think the flipper will get his price – my friend is the 2nd offer…

[UCGal]

Not only do people not understand compound interest… they don’t leave money in a savings account (or investment account)… they spend it.

For a large part of the population, the answer would be zero to the question… because they’d have withdrawn that $100 and spent it at the first opportunity.

[UCGal]

[quote=no_such_reality]Number eight should be:

8. You’re overweight and you have bad habits. Nothing destroys and prevents wealth like excess weight. Smoking, drinking, and gambling run a solid second. The correlation between weight and bad eating habits that are ironically, quite expensive is fairly strong. Excess weight also damages your earning power, promotions and eventually, leads to catastrophic illnesses that will cripple your earnings, destroy your life and drain your wealth.[/quote]
This fatty disagrees. 🙂
I’m on track for early retirement and a paid off house. And I’m fat.

[UCGal]

http://piggington.com/interesting_short_sales_in_del_mar

Yep… It’s an interesting story to follow.
I’m cooking up a batch of popcorn to watch it unfold.

[UCGal]

pulling together your tax documents isn’t hard.

On Jan 1st of each year start a folder labeled taxes (with the year.)

Everything that might be needed for taxes gets tossed in there. Receipts for charitable donations, stock transaction statements (especially if they’re RSUs and the reporting at the end of the year sucks – like my employers case.) etc.

In our case we have continuing education and licensing fees for my husband – toss the receipts for those in there. If there is charitable mileage – we toss records of that in the folder as they accrue.

When you pay your car registration – make note of the deductable amount (it’s not the full amount)… toss that in the folder.

Then, later, as the year wraps up – toss the transaction summer/year end reports from your brokerage accounts. As the 1099’s and W2s come in – toss those in as well.

It seems obvious – but I didn’t start doing this till about 10 years ago. Now I don’t have any issue with gathering the info. I just grab that folder.

[UCGal]

[quote=AN]That house is a flip. There plenty around here like that lately. Here’s another one: http://www.sdlookup.com/MLS-130008108-8559_Hebrides_Dr_San_Diego_CA_92126%5B/quote%5D
AN is correct.

Flu’s original link
http://www.sdlookup.com/MLS-130007958-8761_Menkar_Rd_San_Diego_CA_92126

And the “listing” from the previous short sale.
http://www.sdlookup.com/Pictures-120053704
(which was just a street view picture.)

Between the short sale picture (which may not have been current) and current listing they’ve landscaped and painted the house. Can’t tell if it’s new roof – probably not.
The interior pictures show lots of cosmetic niceties… that seem unlikely from the dead yard street view from the previous listing… but you never know.

From AN’s listing – they did some cosmetic work and landscaping… Might not have a huge amount of profit.
Here’s the previous listing.
http://www.sdlookup.com/MLS-120011013-8559_Hebrides_Dr_San_Diego_CA_92126

Flipping is definitely back in force. A friend is interested in a house in Bay Park. He was disappointed to see that it had short-sold in December for $160k less than current ask.

And what I initially thought was flip added value (nice kitchen) turned out to have been in the old listing.
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )

[UCGal]

I’ve used turbo tax for more than a decade.

You have multiple modes you can enter the information.

There’s the interview mode – that one takes you through every possible scenario – asking you if it applies to you, then drilling down to get more information if it does.

Or the form mode. You can enter the data directly on the worksheets or forms. This is useful if your taxes don’t change much from year to year – and it’s just a matter of adjusting the numbers for the current year.

(This goes with what ER suggested about comparing the output of Turbo Tax to the previous years forms.)

The Employee Stock Purchase Plan section is useful if your employer has ESPP. As is the section on RSUs, Options, etc… That’s the trickiest part of my taxes – and turbo tax makes it tolerable.

(I think you need the Premiere version to the RSU/ESPP features.)

I spent a few hours this weekend doing taxes. It was relatively pain free – except that I owe. Doh!!!!

[UCGal]

[quote=flu]Wow.. this went fast….

http://www.sdlookup.com/MLS-130006968-5293_Vista_Del_Dios_San_Diego_CA_92130
….

So did this…

http://www.sdlookup.com/MLS-120026366-5427_Foxhound_Way_San_Diego_CA_92130

Mira Mesa brutal? CarmelV even more brutal..[/quote]
At the risk of hijacking back to the original topic…. I notice both listings are contingent…. yet are listed for much higher than the sold price…. looks like the owners did some cash extraction…. also, makes me wonder how open/fsir the bidding was.

[UCGal]

[quote=The-Shoveler]How come when you say it no one wants to tear you a new one?

When I said this back in 2010/11 everyone wanted to tear me a new one,

not fair.[/quote]
My good looks and charm?

Seems like there are several folks here who are convinced that there is net migration out of California. It will be interesting to see what the U-Haul data shows… But the United VL data shows ingress, not egress.

This is good news for those folks who want to leave and want to sell their house. This will help their resale value.

[Author]

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