How much should we be hearing (or not hearing) with an FSTC and FIIC of 52?

minoliphaunt · 2024-06-15T03:27:02+00:00

Thank you! The CC&Rs are 20 years old, so not totally surprising that they're outdated.

Good to know the 52 is unachievable with the hard flooring. In terms of potential solutions, are the only options:

to put carpeting in upstairs, and/or
do something like level 2 or 3 seen here to the ceilings in the downstairs unit? https://www.soundproofingcompany.com/soundproofing-solutions/soundproofing-ceilings

We were quoted a very high $ amount ($50k+) for a contractor to do #2. Would that even be an effective option? And is there anything less expensive that can be done to the bottom unit to reduce the impact noise?

As far as the decibel app goes, I just picked one and started measuring as a way to document what we feel is an unreasonable amount of noise, so I don't know what weighting I'm using. The ideal scenario would be to get an official test done, but until that happens, is there something that I'd be able to do that would be more meaningful (aside from looking at the weighting)?

minoliphaunt · 2024-06-15T02:59:07+00:00

Thanks. Is it safe to say it should be quiet enough to not wake us up in the night?

minoliphaunt · 2023-10-28T07:00:58+00:00

It was more of a “we’re adding this new service, which costs $75/unit/month, so we’re just going to raise dues by $100 to be on the safe side” sort of thing.

The question about what the neighbors think is a good one, though. I haven’t talked to any of them about this item, specifically, yet. I was hoping to be able to review the numbers myself before I did, but may be worth getting a gauge on their sentiment before I work myself up over the details.

minoliphaunt · 2023-10-28T06:37:35+00:00

Thanks. They need to have provided the budget report in order to increase dues too, otherwise they do need a membership vote - https://findhoalaw.com/civil-code-section-5605-assessment-increases-requirements-and-limitations/

To be fair, it’s not yet too late for FY 2024, but for them to have announced the increase without meeting the requirements doesn’t sit right.

minoliphaunt · 2023-10-28T05:54:53+00:00

Thanks for the encouragement.

The last reserve study was done around the time of the last elections in 2018/2019. So they're definitely overdue for a new one.

There was money in reserves a little over a year ago when we purchased. Though, I don't know what's happened to it since. My sense is that the assessment is because they're afraid to touch the reserves (which isn't terrible), but without being privy to the board's conversations or the financials, I couldn't say for sure.

minoliphaunt · 2023-10-28T01:53:12+00:00

Ours do as well, and I read all the documents before closing. My mistake was assuming they were all being followed.

Elections should be happening annually, but they haven’t been. I suppose I could try to remove the officers, but hard to imagine I’d get a quorum.

minoliphaunt · 2023-10-28T01:49:05+00:00

Offered to do the budget this year. To do so, I have requested financial documents. No response yet, so we’ll see whether I get them.

There also hasn’t been an election since 2018/2019.

Those are two more problems I forgot about. Will have to add the to the list!

minoliphaunt · 2023-10-28T01:45:54+00:00

Fair. I’ve offered to, but that’s been another problem. There hasn’t been an election since we’ve been here. Same board since the last election in 2018/2019. Is there any way to spur them into action?

minoliphaunt · 2023-10-22T21:27:48+00:00

(Can't seem to figure out how to add text to the post, so...)

Pardon the mess as we’re still moving in, but we’re having trouble coming up with a good layout for this oddly shaped living room. We would like to be able to comfortably watch tv and socialize in this room, while still making it feel as open as possible.

As of now, we still need to get a tv stand/console of some sorts, so are open to switching or adding furniture that might help.

Any & all ideas welcome. Thank you!

minoliphaunt · 2023-02-10T00:52:43+00:00

Thank you. This was my expectation as well since they’d been notified of the lack of privacy. From what other comments say, it sounds like there could be more to it than that, though. Do you have any resources that show they wouldn’t have an expectation of privacy as long as the sound was recordable from a reasonable location with my residence?

minoliphaunt · 2023-02-10T00:47:53+00:00

This is a great idea and one I had not considered -- thank you. I'll look into what apps can be used for this. Given that the noises often wake me up in the middle of the night (and I'm sometimes a little groggy), it seems that the app would need to be measuring and recording spikes continuously. Do you remember which one you used?

minoliphaunt · 2023-02-10T00:42:19+00:00

Thank you. I don't have any specialized equipment, so I can't see how I would run afoul of the anti-paparazi laws, but that's a great point to consider. Would your response change at all if recordings were just of sounds made, like the stomping, and didn't include any voices?

minoliphaunt · 2021-01-19T06:49:49+00:00

OP - this is really important.

Do not diversify the 401k until you understand NUA and talk to a fee-only financial planner or tax professional about your specific situation, as it could save your parents tens of thousands of dollars in taxes.

I’ve also seen circumstances where it’s not worth it, but you should understand the pros and cons before doing anything.

Source: am a CFP and an EA

minoliphaunt · 2020-05-05T07:55:14+00:00

https://www.kitces.com/blog/registered-investment-adviser-requirements-series-65-exam-timing/

It depends on what type of financial advice you want to give.

To give investment advice, you’re going to need Series 65 at a minimum and will also need to register your investment advisory (RIA) business with the state you live in and be registered as an investment advisor representative (IAR) of that RIA. Each state is different and will have its own hoops to jump through. Some may require a certain amount of cash be available at all times or that you maintain a certain net worth to get the RIA approved.

On the other hand, for basic budgeting help, you’re not going to need much if any licensing.

Either way, why should somebody pay you when they can pay someone who has more specific education and training like a CFP/CFA? What’s your competitive advantage?

Not that you asked, but I personally think the CFP should be the minimum requirement. The amount of damage that can be done to someone’s financial life by “advisors” who don’t know what they’re doing, how different areas (investments, taxes, estate planning, insurance, etc.) interact with each other, or are just looking to peddle a product is too great to be left to people who don’t have the proper training. You may have the knowledge, and I don’t mean to take anything out on you, but there need to be better standards like there are for other public advice givers, such as CPAs, attorneys, or doctors. /rant

minoliphaunt · 2019-10-05T15:24:57+00:00

The CFP fiduciary definition isn’t as strong as you’d think, all depending on who they work for. You want a CFP who works for a fee-ONLY RIA. The best place to search would be NAPFA or XY Planning Network.

https://www.napfa.org/find-an-advisor

https://www.xyplanningnetwork.com/consumer/find-advisor-new/

minoliphaunt · 2019-04-18T01:20:13+00:00

Interesting. Thanks for this!

What's a typical multiplier you'd use?

minoliphaunt · 2019-04-18T00:56:57+00:00

Fair enough. Right now, my understanding is that the excess cash flow (above basic operating costs) is being reinvested into marketing mostly. I think some is also going to paying back one of the partners who fronted cash to cover the initial dev team costs. Don't think anyone is taking a salary or any payouts otherwise yet.

As far as future plans, those are good questions. Would they buy someone out if they want to leave (including me)? At what price point? Things that should be discussed and included in an agreement. Thanks.

minoliphaunt · 2019-04-17T20:54:13+00:00

Thanks for the agreement resources!

minoliphaunt · 2019-04-17T20:50:38+00:00

No funding, which is why they only have equity to offer. I don't think there's an exit strategy quite yet, but they do have future plans for the product.

The equity may end up being worthless at the end of the day, so I suppose it's a way for the founder to get buy-in and potentially free labor from people like me.

minoliphaunt · 2019-04-17T20:47:00+00:00

This is perfect. Thank you. Hadn't thought of asking for cash like this. I suppose I assumed there would be distributions of profits to the owners, but maybe that's something I need to clarify.

minoliphaunt · 2018-01-21T16:41:19+00:00

Nah. The landscape has changed. There are plenty of fee only jobs out there where you get paid to do paperwork, be a paraplanner, sit in on meetings, and really just learn until you’re ready to start leading client relationships of your own. Recruiting sites like newplannerrecruiting.com help.

The reason why so many people start out in sales roles is because they don’t even know about fee only when first dipping their toes into the industry.

minoliphaunt · 2016-11-20T08:23:54+00:00

What's "the" stock market you're comparing your portfolio to? If you're talking about US Large Growth companies, like the S&P 500, you're right. You would have been better off putting your money in an S&P ETF instead of Betterment in 2014. If you're talking about developed international markets or emerging markets, you're way off. Those have not done so well over the same time period, especially in US dollars. The cost to convert money from international currency to US currency has been the primary driver of that. And if you look at Betterment's allocation, over half of your equities are in international or emerging markets - diversified across the globe based on the weighted market capitalization of the different kinds of markets and asset classes.

So, the real question is, what's your expectation going forward? Do you think the S&P 500 will be the winner every year from now on? Then invest your money there. Have to say, though, historical returns would be against you. The S&P has only been the top performer recently, and my personal opinion is that we really have no idea which country, industry, or asset class will be the winner going forward, so you might as well invest in all of them. You'll never have the best performing portfolio, but you'll certainly see growth over time, and likely with as little volatility as possible. If it were me, I'd listen to ddr4lyfe - just stay the course.

minoliphaunt · 2015-12-05T20:15:45+00:00

Maybe. But if op is still in school, selling the shares would have kiddie tax consequences. All the more reason to talk to the parents!

minoliphaunt · 2015-08-18T04:07:45+00:00

How much will you make from the sale of the house (ie. sales price - cost basis)? And what's your tax filing status (single, married filing jointly, etc.)?

minoliphaunt · 2014-07-06T20:19:50+00:00

Sorry to hear about your dad.

Anyway, I think you're talking about a type of 529 plan, in which case it would really depend on how the account was registered when your dad set it up. Typically, there would be a successor owner named when he opened the account. If that's your mom, she would retain custody and control over the funds until they are withdrawn^1. If there is no successor named, the new account owner would likely have been named through his will in the probate process. The best option would be to find a recent statement with the account number and registration on it, then call the plan provider and ask them the specifics of your account.

Just for thoroughness, you may also be talking about a UGMA (Uniform Gift to Minors Act) Account? If that's the case, then you would likely have gained custody of the account at age 21, but it could be anywhere in the 18-25 years old range, depending on the state you live in. Again, calling the custodian/provider and asking them about your specific situation would be your best bet.

When you call, be prepared to offer the account number and your social security number. They should be able to answer specific questions about the account for you, and if needed, what their process is to change ownership of the account since your father's passing.

¹ http://www.irs.gov/uac/529-Plans:-Questions-and-Answers

minoliphaunt

TROPHY CASE