Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Maybe part of the mental freeze is that you are trying to make too many four figure decisions at the same time. Also may be too many choices for each one of them. Are there really that many options for each decision that will make much difference? Probably not. If you have a longer term financial plan, spread the decisions out more over time. Maybe the problem is prioritizing, not spending. Force yourself to go back and renew sight of the big picture. Does everything really need to be done at some particular point in time? Intersperse some smaller easier decisions between the bigger ones.
^^This is what I was thinking but you expressed it much better than I would have.
Sounds like you've made up your mind already, but:
At least One financial pundit strongly suggests one put inheritance money in the bank, perhaps in 1 yr CD s, ( or fewer months) and take a year off from decisions to clear the head ( this is usually after the death of the bestower of the inheritance. )
Perhaps you should do the same. Wait a,year, then make decisions, meanwhile the funds are safe.
And, if it helps you any, I agonize ( often too much) over any decision involving $1k or more. I ALWAYS "sleep on it", even if it IS the car I want, for example. I leave the dealership and go on home, and dint tell them I'll buy til at least the next day. ( often results in a better deal for me anyway).
If it's any thing else over 1k, I still think about it, but do not obsess over it. Sounds a bit lije you are obsessing.
Then there's the "one thing at a time approach". Just concentrate in one thing, do it and do it well/right/ at the right price, and dont think of anything else.
Good luck flying.
You always seem in your posts to be a reasonable, responsible and sensible person. So why, oh why, should a little extra money change that now?
Landlord here, just a thought you might not want to own a rental directly across from where you live. Personally I don't want to drive past my rental unless I am actually going there. It's the little things like hey why didn't they mow the lawn this week or take in the trash cans that don't really matter in the long run. Just a thought.
Sounds like you've made up your mind already, but:
At least One financial pundit strongly suggests one put inheritance money in the bank, perhaps in 1 yr CD s, ( or fewer months) and take a year off from decisions to clear the head ( this is usually after the death of the bestower of the inheritance. )
Perhaps you should do the same. Wait a,year, then make decisions, meanwhile the funds are safe.
And, if it helps you any, I agonize ( often too much) over any decision involving $1k or more. I ALWAYS "sleep on it", even if it IS the car I want, for example. I leave the dealership and go on home, and dint tell them I'll buy til at least the next day. ( often results in a better deal for me anyway).
If it's any thing else over 1k, I still think about it, but do not obsess over it. Sounds a bit lije you are obsessing.
Then there's the "one thing at a time approach". Just concentrate in one thing, do it and do it well/right/ at the right price, and dont think of anything else.
Good luck flying.
You always seem in your posts to be a reasonable, responsible and sensible person. So why, oh why, should a little extra money change that now?
Best to You!
You're right. I need to wait.
I'm going to move forward with the updates, but I'm going to leave the real estate part alone. Let me explain why:
I sent an email of a listing to my mom earlier.. we saw a beautiful town home that's towards the top of our affordability but includes an occupied downstairs apartment (so cool.. it's like two for the price of one!). I commented that the unit has a mother-in-law suite and included a wink-wink emoji and her response was pretty direct.. she's not opposed to a shared living arrangement provided we work out the details.
Wow!
Mom is turning 65 and not getting younger. She lives in the same city as my sister and has a lot of friends, but she's sick of the climate (upper midwest) and isn't particularly close to my sister. She's been talking a lot about RV living, but she hasn't moved forward with any plan... I don't think she knows what she really wants... I think if either my sister or I became more assertive about it and I think as time passes and she just gets older she's going to be more agreeable, if not simply more dependent, on our suggestions.
Mom only has my sister and I.. which one will it be?
So we could move forward with our plan of buying a 2 bed + den and she could go off on her RV living adventure if she so chooses. Then, down the road, say in 7-10 years, we buy our third property -our empty nest home- that includes a ground floor apartment for my aging mother... which could eventually turn into our ground floor apartment as we age...
Oh and there is one more factor.. my father-in-law wants to get his green card. We need to talk to an immigration lawyer and see if we can sponsor him from Florida (where he wants to move to). If not, and he REALLY wants a green card then he'd come live with us too.
All of this is crazy.
I need to stop thinking for awhile.
Here is my plan, my only plan: We're going to get some updates to our condo.
Your comment that time is on your side because you're not currently renters made me think, well, that depends on the situation haha. There are times (right now) where I really wish I was a renter. Don't get me wrong, I love owning my house obviously, but what I mean is it would be ideal if I found someone who wanted my house so badly for some bizarre reason that they would cash me out and let me live in the house for as long as I wanted to buy my next house. Since the next house very well might be a new construction luxury home that takes 8-9 months to build, the need for cash becomes an annoyance. Half of my potential downpayment (or maybe a bit more) is tied up in home equity that I can't really tap that easily. Everyone loves spitting out, "Oh that's so easy, HELOC!" That's really useless, and doesn't solve anything at all. That's a mortgage, basically, and at most would allow access to, what, 80% of the home's value? I have 100% of the value as cash, I need all of the cash, not some of it, and it's hard (or harder) to get a $450,000 mortgage when you already have a $500,000 HELOC, too, now you have to qualify for almost a million dollars in debt. So sometimes, I dream of being a renter, where I have all of the cash in the bank and not in my house, where it's useless basically.
Good luck on your decisions, it sounds like you're getting a handle on things at least I'm amazed someone could go without a dishwasher, though, that's a bare necessity in my world lol
Your comment that time is on your side because you're not currently renters made me think, well, that depends on the situation haha. There are times (right now) where I really wish I was a renter. Don't get me wrong, I love owning my house obviously, but what I mean is it would be ideal if I found someone who wanted my house so badly for some bizarre reason that they would cash me out and let me live in the house for as long as I wanted to buy my next house. Since the next house very well might be a new construction luxury home that takes 8-9 months to build, the need for cash becomes an annoyance. Half of my potential downpayment (or maybe a bit more) is tied up in home equity that I can't really tap that easily. Everyone loves spitting out, "Oh that's so easy, HELOC!" That's really useless, and doesn't solve anything at all. That's a mortgage, basically, and at most would allow access to, what, 80% of the home's value? I have 100% of the value as cash, I need all of the cash, not some of it, and it's hard (or harder) to get a $450,000 mortgage when you already have a $500,000 HELOC, too, now you have to qualify for almost a million dollars in debt. So sometimes, I dream of being a renter, where I have all of the cash in the bank and not in my house, where it's useless basically.
Good luck on your decisions, it sounds like you're getting a handle on things at least I'm amazed someone could go without a dishwasher, though, that's a bare necessity in my world lol
About 9 months after we paid off our mortgage we were sitting down with our CPA, who also worked as a wealth manager, and we asked her about what to do with our sudden influx of cash (from being mortgage free) and her suggestion was to buy more real estate. I was like, "with what money????" and she said to use a HELOC. I was like, "but that just takes down the pay of mega debt all over again.... nooooooooo!"
Yes, I'm so glad to not be in your position anymore!
The thing is that was just under two years ago and yet here we are nearly ready to move forward with our next purchase.
I can't imagine you'd not be able to get your down payment pretty quickly too.
Also, not sure why the dishwasher is the necessity of the world when you don't cook (remember that frugal living forum comment about cooking at home.. and your helpful commentary was that you simply don't? That made me chuckle.. very helpful advice there LOL..).
There is no "we". Your husband can sponsor his father's Green Card. Pretty cut and dry on uscis.gov. Is the wife your husband's mother?
As far as the government is concerned that's true. But there most certainly is an "us" if my father-in-law desires to live with my husband while undergoing the immigration process.
The wife is my husband's late mother's first cousin. He cannot sponsor her.
As far as the government is concerned that's true. But there most certainly is an "us" if my father-in-law desires to live with my husband while undergoing the immigration process.
The wife is my husband's late mother's first cousin. He cannot sponsor her.
He stays in Mexico until he activates his Green Card. Adjustment of Status while in the US has turned very iffy. Again - read up on it on uscis.gov. Travel.state.gov is a bit easier to work through and also an official site.
Under current law the Green Card holder can sponsor the spouse as soon as he activated his Green Card. Visa Bulletin on travel.state.gov gives current and historic processing times.
He stays in Mexico until he activates his Green Card. Adjustment of Status while in the US has turned very iffy. Again - read up on it on uscis.gov. Travel.state.gov is a bit easier to work through and also an official site.
Under current law the Green Card holder can sponsor the spouse as soon as he activated his Green Card. Visa Bulletin on travel.state.gov gives current and historic processing times.
Okay. The only part I'm confused on is the "available visa". He has a travel visa for the US.
Seems according to this website that those who need an available visa can end up waiting years:
"If the immigrant is a preference relative who must wait for an available visa, the file will remain with the NVC for a number of years, waiting until the Priority Date becomes current. Both the petitioner and the immigrant should advise the NVC of any changes of address during this time."
[url=http://www.alllaw.com/articles/nolo/us-immigration/how-long-does-i-130-petition-process-family.html]How Long Does The I-130 Petition Process Take? Family Based Immigration - AllLaw.com[/url]
I'm trying to figure out which visa they are referring to or if they are referring to visas in general.
Thanks for directing my attention the US Gov. Honestly, it's not my dad so I wasn't going to put any effort towards the process (less cooks in the kitchen...), but my husband should look at it himself in addition to hiring an immigration lawyer on my father-in-law's behalf.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm amazed someone could go without a dishwasher, though, that's a bare necessity in my world lol
