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Re: Funding a big home remodel

I haven't spoken to a lender yet but several list 90% LTV. If your house is $200k and you have $50k cash, why not a $150k home equity loan, or a cash out $150k mortgage? You don't need 90% LTV, just 75% (150/200). I think a local bank would understand what you are doing and help you find the right ...
by Anon1234
Sat Feb 28, 2015 12:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Funding a big home remodel
Replies: 7
Views: 591

Re: Can I afford my dream house?

It is a dilemma in the close in MD/VA suburbs. If you want some encouragement, many of your neighbors in the 1.5-2MM houses are in worse shape than you. You expect to make 500k per year and are, outside of savings and housing, spending 60k per year? That's great-you're neighbors are spending more. ...
by Anon1234
Fri Feb 27, 2015 11:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

If the $30k /month income is secure, I say go for it. 28% of that would be $8,400 / month that you could spend on mortgage or PITI. Sure 28% is a lot for Boglehead standards, probably not a lot for national HCOL standards. Another possibility would be to spend $1.3M and get a great location with th...
by Anon1234
Fri Feb 27, 2015 11:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: I survived my initial performance improvement mtg. Now w

To sum it up, my action plan is that I need to spend more time with employees in the field. Like a lot more time. During this time, I need to get each employees buy-in and their 100% to-the-edge-of-the-earth and back commitment to the company. I need to do this by being a super-awesome employee-foc...
by Anon1234
Fri Feb 27, 2015 8:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: I survived my initial performance improvement mtg. Now what?
Replies: 30
Views: 3222

Re: Can I afford my dream house?

I'm still trying to figure out how someone can spend $5000 on food, gas and utilities every month... :confused It's not hard. last month: $1100 shopping and short term (vacation) savings. $1000 kid afterschool activities, piano lessons. $900 groceries, $840 for water+gas+eletric+phone+internet+tras...
by Anon1234
Fri Feb 27, 2015 6:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

Based on your feedback, I reduced my maximum home price to 1.575M. I created this new Home Buying Policy Statement.
Image

Refer to the UPDATED original post to see how I calculated this.
by Anon1234
Fri Feb 27, 2015 5:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

I can't view the income and asset charts you posted, but from the discussion it sounds like you can afford this purchase - particularly if we assume you'll downsize in 10-15 years and replenish your portfolio with the home equity. Obviously you *could* get by with much less, but that isn't your que...
by Anon1234
Fri Feb 27, 2015 5:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: College funding

Welcome to the forum. 529 accounts are pretty popular. They are a tax free account for Education savings. I use one. But, if you don't use the money for college (or trade school, etc), then you pay regular income tax plus a 10% penalty on the earnings at the time you withdrawal the money. These are ...
by Anon1234
Fri Feb 27, 2015 1:50 am
 
Forum: Investing - Help with Personal Investments
Topic: College funding
Replies: 11
Views: 794

Re: Can I afford my dream house?

OP-Seems like you've already made up your mind. I definitely put thought into the number before I wrote this post. I still want the gut check to see if the wisdom here exposes anything I overlooked. I find it helpful to have this community put a critical eye on my plans. I can't really talk about t...
by Anon1234
Fri Feb 27, 2015 1:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

So I'm thinking your plan really counts on the "likely" or "possible" scenarios. Only you can say how likely or possible those scenarios are. If you really bring home $50k per month, and feel confident you will for the duration, sure - you can afford a 7 figure mortgage. General...
by Anon1234
Fri Feb 27, 2015 12:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

Gotta love this forum! I'm sorry but with your net worth you can pretty much move to any location on the planet and retire right now. Make breakfast and walk your kids to school, learn to surf, write that novel you always thought about, ect. You must really love your job! :) Walking kids to school ...
by Anon1234
Fri Feb 27, 2015 12:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

I use traditional, conservative rules for determining housing affordability. It often doesn't work in expensive areas of the country. 1) Can you make a 20% down payment without raiding your retirement/kid's college accounts? 2) Will the mortgage payment be under 28 - 32% of your gross income? 3) Wi...
by Anon1234
Fri Feb 27, 2015 12:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

Hmm.... apparently my dream house is now a Chevy Van down by the river .. :oops: In this school district in this city, if you can park by the river you have a $1M lot. Local economy is good and everyone with kids wants to be in the best school district. What zip code is this in? I hesitate to say. ...
by Anon1234
Thu Feb 26, 2015 11:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

1. Very confusing presentation. Please clean it up. Points of confusion: - "dream house" vs "old plan". If you are going to do this comparison, may as well just call it $800K house and $1700K house. Make the lower priced house more specific rather a very large range, - presentat...
by Anon1234
Thu Feb 26, 2015 11:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

Gary Guss wrote:Hmm.... apparently my dream house is now a Chevy Van down by the river .. :oops:

In this school district in this city, if you can park by the river you have a $1M lot. Local economy is good and everyone with kids wants to be in the best school district.
by Anon1234
Thu Feb 26, 2015 11:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

I understand the sentiment. I feel like I need to draw a line in the sand somewhere and then stick to it (like a home buying IPS). Where would you draw the line for me 1.5, 1.3, 1.0? Well $30,000/mo income gross is really awesome! :beer So 32% of your monthly gross gives us $9600/mo for the mortgag...
by Anon1234
Thu Feb 26, 2015 10:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

Let me explain. My IPS is my plan for retiring at age 55. It says I should have $1.15M in retirement savings on Dec 31, 2014. I actually had $1.39M. I had 240k more than plan. Do you consider it "raiding my retirement" to use that extra 240k for a house? The 240k extra is a result of over...
by Anon1234
Thu Feb 26, 2015 10:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

I was in a very similar situation when we bought our house. We were lucky that prices had softened when we bought. Rather than buy the most house we could afford, we bought an adequate house in the best school district and had provisioned a 2 year cash emergency fund set aside in case of job loss o...
by Anon1234
Thu Feb 26, 2015 10:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

I would suggest to ask yourself this question: what if I lose my job or something happens to me tomorrow, will my family be alright financially? If I die, there is life insurance. If I get disabled, there is disability insurance (may need to add some) If I lose my job the day after I sign the mortg...
by Anon1234
Thu Feb 26, 2015 10:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: Can I afford my dream house?

if you are having to take almost $400K out of your retirement accounts then I don't see how you can afford it. If you need to pull $350K out of retirement accounts to get a down payment the answer might be no 1) Can you make a 20% down payment without raiding your retirement/kid's college accounts?...
by Anon1234
Thu Feb 26, 2015 7:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Can I afford my dream house?

Bogleheads, I'd like your input. We have been renters for a long time. Our family of four recently changed jobs and moved, in order to build a more family focused lifestyle. Now we want to buy a house in the best public school district and stay here at least through high school. Our youngest is 7, s...
by Anon1234
Thu Feb 26, 2015 5:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford my dream house?
Replies: 49
Views: 3892

Re: What are Costco's best deals?

It's a good point. After the recent news about supplements not containing the ingredients they claim to contain I am planning to move all my purchases of supplements to Costco. Victoria Why? If the old stuff was working who cares what it actually is. EDIT: Maybe the placebo effect is diminished onc...
by Anon1234
Thu Feb 26, 2015 4:33 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 130
Views: 9634

Re: IRS Called and Asked for Personal Information

Wait for something in writing. If you want to beat your head against a wall you can call the IRS at a number listed at IRS.gov. I wouldn't do that. Here's a recent IRS scam warning from clark howard. Sounds like you shut them down before they rolled out their whole scam. He says they try to get mone...
by Anon1234
Thu Feb 26, 2015 2:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Called and Asked for Personal Information
Replies: 16
Views: 1631

Re: What are Costco's best deals?

I think Costco is skewed toward the higher cost / higher quality items. It's a good point. After the recent news about supplements not containing the ingredients they claim to contain I am planning to move all my purchases of supplements to Costco. Victoria Why? If the old stuff was working who car...
by Anon1234
Thu Feb 26, 2015 2:05 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 130
Views: 9634

Re: What are Costco's best deals?

I think Costco is skewed toward the higher cost / higher quality items. It's a good point. After the recent news about supplements not containing the ingredients they claim to contain I am planning to move all my purchases of supplements to Costco. Victoria Why? If the old stuff was working who car...
by Anon1234
Thu Feb 26, 2015 1:52 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 130
Views: 9634

Re: What are Costco's best deals?

Anything that you don't mind buying a ton of. And the winner is Easy Rhino. :D On a per unit basis, Costco has the best deal on everything. The only things that I choose not to buy at Costco are things that I don't want in bulk OR I don't like the supplier they use. For the longest time, most lapto...
by Anon1234
Thu Feb 26, 2015 1:42 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 130
Views: 9634

Re: What are Costco's best deals?

I will prefer to purchase a HDTV from Costco due to their consumer friendly return policy. I've even returned lobster tail before! Their return policy is amazing ... Costco's return policy is amazing. It has no time limit. You can even return your membership AFTER using it. But, it's like Vanguard ...
by Anon1234
Thu Feb 26, 2015 1:29 pm
 
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 130
Views: 9634

Re: Safety of Vanguard online access

My wife has always been uneasy about online access to our Vanguard account so we have continued to have paper statements delivered via the mail and to perform any transactions on the phone. With the new two factor authentication, this would seem like a good time to migrate to online use. Any wise t...
by Anon1234
Wed Feb 25, 2015 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safety of Vanguard online access
Replies: 28
Views: 1680

Re: Safety of Vanguard online access

The Wizard wrote:If we assume that space characters are valid, then we could argue that all passwords are maximal length...


good point. It just means that the first 1/88th of brute force guesses would be seeded with space characters to reach proper length. I don't think that changes my conclusion.
by Anon1234
Wed Feb 25, 2015 4:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safety of Vanguard online access
Replies: 28
Views: 1680

Re: Safety of Vanguard online access

As an aside, I used to wonder : is it better to pick the maximum password length allowed by eg Vanguard, or is it better to pick something less obvious, like maybe 1 or 2 characters shorter? Considering a brute force attack and my 88 character password set. a 19 character password has 88^19 = 8.8*10...
by Anon1234
Wed Feb 25, 2015 4:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safety of Vanguard online access
Replies: 28
Views: 1680

Re: Safety of Vanguard online access

Also add that your passwords should be minimum 19 characters long include lower, upper case letters, at least 3 numbers and 2 symbols (#,@). That sounds arduous and it is which is why programs like 1Pass exist which let you create passwords, save them and generate new ones. The computers we have no...
by Anon1234
Wed Feb 25, 2015 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safety of Vanguard online access
Replies: 28
Views: 1680

Re: Portfolio help - Windfall 1.5M to 5M

I found the CD at http://www.depositaccounts.com There are a handful paying more than 2% now with 2.75% the highest I see for 6+ year CDs. With 30X spending a mine/heirs bucket approach may not be right for you. Before I give up, let me ask another way. Instead of portfolio/spending ratio, what is t...
by Anon1234
Wed Feb 25, 2015 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help - Windfall 1.5M to 5M
Replies: 8
Views: 1896

Re: Private Placement Life Insurance/ TIAA-CREF

The last 30 years have been a bull run for long term bonds. Making a portfolio with 40% long term bond strikes me as crazy. Tons of volatility and not enough upside potential. Bond prices go inversely to rates. I don't think rates can go below zero, so I don't see how there is much return left for L...
by Anon1234
Wed Feb 25, 2015 1:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Private Placement Life Insurance/ TIAA-CREF
Replies: 8
Views: 668

Re: Portfolio help - Windfall 1.5M to 5M

Congratulations on the sale and and your success. You must have built quite an impressive business. At $5M, how many times your annual spending do you have? I'm having a hard time understanding this Desired Asset Allocation: 60% Stocks / 40% Bonds? Desired International: 35% And this Current Plan Do...
by Anon1234
Wed Feb 25, 2015 1:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help - Windfall 1.5M to 5M
Replies: 8
Views: 1896

Re: Investment/Portfolio advice

>I am interested to know if you buy a house and move out will you continue to pay your dads mortgage? How long will you continue to support your mother? This is a valid question and this is something I'm also concerned about. But I'm going to support them as long as I can even if I move to a differ...
by Anon1234
Tue Feb 24, 2015 11:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment/Portfolio advice
Replies: 3
Views: 262

Re: choosing mutual funds

Lafder wrote:How about
Vanguard Total Stock Market Index Fund

or

Vanguard Life Strategy Growth Fund

or

Vanguard Target Date Retirement Fund

If I had to pick just one fund I would likely pick one of these.
Lafder


You would pick one of these for a 3-5 year time horizon investment?
by Anon1234
Tue Feb 24, 2015 11:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: choosing mutual funds
Replies: 9
Views: 438

Re: YMCA 403b

can you login?
You could call.
You could defer $50 and see what happens.

you may find out your wife's Y is not a participating Y.

Here's the contact info:
Image
by Anon1234
Tue Feb 24, 2015 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: YMCA 403b
Replies: 7
Views: 511

Re: Beginner Roth IRA asset allocation question

Welcome to Bogleheads. It's not redundant, it's simpler, and Vanguard takes care of the asset allocation and rebalancing for a cost of free. All you have to do is send them the money. I use a target retirement fund. If you have a 401k or 403b make sure you contribute enough to get the employer match...
by Anon1234
Tue Feb 24, 2015 10:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beginner Roth IRA asset allocation question
Replies: 4
Views: 467

Re: REITs

I saved these from my first year of having my boglehead portfolio (2011). I learned REITs can move a lot. I was glad to have bonds.
August 9th, 2011-----------------------------August 11th, 2011
Image Image
by Anon1234
Tue Feb 24, 2015 10:16 pm
 
Forum: Investing - Theory, News & General
Topic: REITs [Why did Vanguard's REIT lose 2% today?]
Replies: 33
Views: 3283

Re: choosing mutual funds

Hi, I'm just trying to understand in general what are something of the things I should keep in mind when looking at a mutual fund and I figured having an example stock helps. The best predictor of a fund's future performance is its cost (expense ratio). This may sound simple but it is actually prof...
by Anon1234
Tue Feb 24, 2015 9:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: choosing mutual funds
Replies: 9
Views: 438

Re: choosing mutual funds

Hi, I'm not asking people here to tell me to buy or avoid the stock. I'm just trying to understand in general what are something of the things I should keep in mind when looking at a mutual fund and I figured having an example stock helps. Maybe I can ask in a different way, pretend i didn't mentio...
by Anon1234
Tue Feb 24, 2015 9:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: choosing mutual funds
Replies: 9
Views: 438

Re: 29 and looking for Portfolio Advice and Investment Plan

Besides the 11% cash in the taxable account that's earmarked for house DP, everything else I consider long-term investments. Call the rest my financial independence fund, early retirement account, or whatever else. I wanted to provide a full picture, that's why I included all investable assets (exc...
by Anon1234
Tue Feb 24, 2015 8:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: 29 and looking for Portfolio Advice and Investment Plan
Replies: 3
Views: 398

Re: choosing mutual funds

I don't think any boglehead will help you market time in a high cost sector fund. That's just not what we do.

If you may need this money in 3 years I think you should put it in a bank CD. Check out http://www.depositaccounts.com to find a good rate.
by Anon1234
Tue Feb 24, 2015 7:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: choosing mutual funds
Replies: 9
Views: 438

Re: Changing 401(k) Plans, Need Help!!

That is definitely a worse 401k. Given that you don't really know what the options will be, why don't you post again when you actually know the situation.
by Anon1234
Tue Feb 24, 2015 7:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Changing 401(k) Plans, Need Help!!
Replies: 10
Views: 425

Re: Why move my 401(k) to Vanguard?

usually you cannot roll your 401k while you're still employed. Does your 401k allow in service transfers? Edit: gosh I think I misunderstood. You are talking about a rollover after you retire. If your 401k has low cost funds that match their benchmark you can certainly keep the money there, or whate...
by Anon1234
Tue Feb 24, 2015 7:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why move my 401(k) to Vanguard?
Replies: 5
Views: 448

Re: Retirement Asssitance

Hi Merry Monk, Welcome to Bogleheads. It seems like you have good instincts regarding the too good to be true annuity sales pitches. I hope the boglehead community can help you find a plan that works for you and doesn't have the lockup and fees of those annuity products. Before we get into investmen...
by Anon1234
Tue Feb 24, 2015 7:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement Asssitance
Replies: 1
Views: 223

Re: 29 and looking for Portfolio Advice and Investment Plan

Jimmo - You've got the cart before the horse. You have not defined what assets comprise your long term portfolio for retirement, and you have no desired asset allocation. But you are fully invested. In my opinion you are on course for disaster; how can you stay the course if you have no course? When...
by Anon1234
Tue Feb 24, 2015 7:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: 29 and looking for Portfolio Advice and Investment Plan
Replies: 3
Views: 398

Re: Investment/Portfolio advice

CT - Welcome to Bogleheads. First things first, You and your wife are doing great. You earn a lot, and you save a lot. And you are supporting your parents. I don't think you have made any "folly." It sounds like you have a lot of ideas about all the ways you can use your money; from invest...
by Anon1234
Tue Feb 24, 2015 5:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment/Portfolio advice
Replies: 3
Views: 262

Re: International stocks and social costs

Imagine now a shareholder of a company that acts in a foreign country without a political or legal system that adequately represents the interests of the affected native people. Is that shareholder getting a free or cheap lunch? (because someone else down there is absorbing the costs of such pollut...
by Anon1234
Tue Feb 24, 2015 12:57 pm
 
Forum: Investing - Theory, News & General
Topic: International stocks and social costs
Replies: 8
Views: 752

Re: International stocks and social costs

Competition in the developing country would likely push the market price of the product down in the developing country. The consumer in the developing country would get the "free lunch" (to the extent that the market is free and open to competition). However, that same consumer would pay t...
by Anon1234
Tue Feb 24, 2015 12:35 pm
 
Forum: Investing - Theory, News & General
Topic: International stocks and social costs
Replies: 8
Views: 752
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