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Re: Refi vs Child Tax Credit

I have the option to take out a 50k 401k loan if needed but it seems like the consensus is against these types of loans.
by Cappy361
Thu Jan 10, 2013 11:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Refi vs Child Tax Credit
Replies: 11
Views: 710

Re: Refi vs Child Tax Credit

I'm leaning towards mortgage refi but who knows. I'll probably make the final decision once we have our little one.
by Cappy361
Thu Jan 10, 2013 10:16 am
 
Forum: Investing - Help with Personal Investments
Topic: Refi vs Child Tax Credit
Replies: 11
Views: 710

Re: Refi vs Child Tax Credit

Thanks for all the help. I was really tempted to put the money into the market but the thought of paying the 5% is just appalling to me.
by Cappy361
Wed Jan 09, 2013 10:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Refi vs Child Tax Credit
Replies: 11
Views: 710

Refi vs Child Tax Credit

My current mortgage rate is at 5% on 150k note for 30 years and I qualify to refi at 2.75% to a 15 year. The bank is requiring that I bring 40k to closing which I have. I also have a new baby coming in 2013 and at my current income level I need to max out both my 401k and IRA to qualify for the chil...
by Cappy361
Sun Jan 06, 2013 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Refi vs Child Tax Credit
Replies: 11
Views: 710

Penfed Auto Loan

How hard is it to get a loan from them?

Is there any specific requirements? ie high credit score and income
by Cappy361
Sun Jul 15, 2012 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Penfed Auto Loan
Replies: 22
Views: 4227

Re: New bed?

Yes, we can afford the mattress but I'm just cheap but both I and my wife work hard so I'm willing to splurge on this. We have tried the Temperpedic and we liked it but I know it will be too hot for me. We want to try a latex mattress but not one store in our area carries one. I am thinking about go...
by Cappy361
Thu Apr 12, 2012 9:14 pm
 
Forum: Personal Consumer Issues
Topic: New bed?
Replies: 22
Views: 1350

Re: New bed?

thanks
by Cappy361
Wed Apr 11, 2012 6:45 pm
 
Forum: Personal Consumer Issues
Topic: New bed?
Replies: 22
Views: 1350

New bed?

What kind of bed are you sleeping on? My wife wants to purchase a new bed (Temperpedic $3300) which seems steep to me but she is complaining her back hurts. Any suggestions?
by Cappy361
Wed Apr 11, 2012 6:24 pm
 
Forum: Personal Consumer Issues
Topic: New bed?
Replies: 22
Views: 1350

Auto Loan Rate?

Where can you find the best auto loan rate with excellent credit?
by Cappy361
Tue Apr 10, 2012 9:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Auto Loan Rate?
Replies: 2
Views: 246

Re: IRA Problem Please Help

Thanks for all the tips. I went ahead and filed the amended returns for all the years. I also sent in the extra tax owed.
by Cappy361
Tue Apr 10, 2012 8:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: IRA Problem Please Help

I think my 2008 return was done correctly but I will do amendment for all the incorrect years.
by Cappy361
Mon Apr 09, 2012 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: IRA Problem Please Help

Alan, I don't understand what you mean by the 2008 comment. This is really stressing me out and I don't want to go through the hassle of being audited because of this. Please advice...
by Cappy361
Mon Apr 09, 2012 8:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: IRA Problem Please Help

Is there any way to reclassify the Roth to traditional ira to avoid the hassle of paying taxes?
by Cappy361
Thu Apr 05, 2012 11:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: IRA Problem Please Help

My luck i get one of the incompetent CPA's. The kicker is he told me I should wait till they catch it and then file amendment. I'm going to wait till he pays the penalty, amend my returns, and then i'll look for a new CPA.
by Cappy361
Thu Apr 05, 2012 10:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: IRA Problem Please Help

He said he would but he wants me to file an amendment. Any other way around it? This sucks had a nice weekend planned with my family now I got this hanging over my head.
by Cappy361
Thu Apr 05, 2012 10:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

IRA Problem Please Help

Long story short. My CPA have been treating me IRA contributions as a deductible traditional contribution. Although, I have told him before that it was Roth contributions and provided him with the forms. Now three years later I finally catch the mistake and have contributed 15k since. What are my op...
by Cappy361
Thu Apr 05, 2012 9:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Problem Please Help
Replies: 15
Views: 975

Re: Another mortgage vs 401k question

How I would approach the question: how much is your house worth? 200k home much of your total net worth is in home equity? I say about 110k not including equity in my home. how old are you? 32 what is your current stock/bond split? 85/15 what percentage of your net worth is in stocks? really list ou...
by Cappy361
Thu Jan 26, 2012 6:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another mortgage vs 401k question
Replies: 8
Views: 489

Re: Another mortgage vs 401k question

if you max out your 401k contribution. would you still get a tax deduction if you max out your traditional ira?
by Cappy361
Thu Jan 26, 2012 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another mortgage vs 401k question
Replies: 8
Views: 489

Another mortgage vs 401k question

I know it's probably been asked a million times but I wanted help for my situation. I'm been able to save about an extra 1400 a month after I traded in my luxury car for a more modest vehicle with no payment. I'm trying to figure out what to do with the extra money. I'm in the 25% federal tax bracke...
by Cappy361
Thu Jan 26, 2012 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another mortgage vs 401k question
Replies: 8
Views: 489

Re: Credit card not reporting credit limit?

thanks for all the info and the learning experience
by Cappy361
Tue Jan 24, 2012 6:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Re: Credit card not reporting credit limit?

lol my wife. I don't know why I listened to her but she said we weren't using the card so cancel it. At the time, I wasn't thinking about credit score. lesson learned and I won't cancel the card I'll keep it and open a new one.
by Cappy361
Tue Jan 24, 2012 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Re: Credit card not reporting credit limit?

You are right and I don't know what is dinging my score for sure but the only thing that has really changed in my credit history is the new card. I have three total cards before with with a total of 90k limit but since I got this new one and canceled one of the old cards. my total revolving credit o...
by Cappy361
Tue Jan 24, 2012 3:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Re: Credit card not reporting credit limit?

I see you're probably right but it's a 50 point drop without anything really changing in my credit history besides the new credit card. Either way, I'll probably apply for another card or two but not use them.
by Cappy361
Tue Jan 24, 2012 2:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Re: Credit card not reporting credit limit?

Yes, my score was 772 average but since I been using this credit card which I normally racked up about 15k a month. I pay it off every month but since the credit limit is 0. The 15k is counted against my available credit for my other two cards which is 30k. I cancel the ones I didn't use.
by Cappy361
Tue Jan 24, 2012 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Credit card not reporting credit limit?

I recently check out my credit score because I was planning on making a big purchase. I realized it was significantly lower than before. I am using Fidelity Visa rewards card and found out they don't report credit limit which completely screwed up credit utilization ratio since I use only this card ...
by Cappy361
Tue Jan 24, 2012 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 669

Re: Reinvesting mony back into 401k?

$10,000 is about %10 of my portfolio. I'm 32 and currently at 90/10. would this be a good time to add the $10,000 to VBTIX or FINPX so that I can get closer to 20% bonds.
by Cappy361
Wed Dec 14, 2011 9:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting mony back into 401k?
Replies: 11
Views: 561

Re: Reinvesting mony back into 401k?

You nailed it Choy. Sorry, I have poor communications skill.
by Cappy361
Sat Dec 10, 2011 1:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting mony back into 401k?
Replies: 11
Views: 561

Re: Reinvesting mony back into 401k?

Let me clarify, I am putting it all back in but I dont know if I should put it all back into my aa or slowly redistribute the funds.
by Cappy361
Sat Dec 10, 2011 1:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting mony back into 401k?
Replies: 11
Views: 561

Reinvesting mony back into 401k?

I was repaid $10,000 that was loaned to a friend that was in financial trouble. I took a loan against my 401k at the time. now the question is do I put it all back at once towards my asset allocation. Or put it back into a money market or bond fund and slowly redistribute and at what rate? Any help ...
by Cappy361
Sat Dec 10, 2011 1:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting mony back into 401k?
Replies: 11
Views: 561

I have the Fidelity Visa and the rewards is at 1.5% but it does go to 2% after you spend 15k.
by Cappy361
Tue Aug 30, 2011 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Schwab Bank will no longer sponsor credit cards
Replies: 138
Views: 23238

I'm sorry but I probably used the wrong term "options". It's more like offering a chance for ownership in the company.
by Cappy361
Tue Jul 19, 2011 4:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Loan for stock options
Replies: 19
Views: 1282

It's a privately held company and it's probably more like being offered shares into ownership. They don't even call it stocks but instead interests. Sorry typing from my phone. I'm torn because the greed in me says BUY. This will be my second offer due to increased responsibilities and the previous ...
by Cappy361
Tue Jul 19, 2011 4:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Loan for stock options
Replies: 19
Views: 1282

What if it's a privately held company with a long history?
by Cappy361
Mon Jul 18, 2011 3:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Loan for stock options
Replies: 19
Views: 1282

Loan for stock options

Would you buy company stock options with a loan that charges 1.75 percent apr?

Or dip into cash emergency fund?
by Cappy361
Mon Jul 18, 2011 3:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Loan for stock options
Replies: 19
Views: 1282

I'm cranking up the savings already. I just had no idea and never expected to even be offered shares. They keep everything about becoming a shareholder very secretive.
by Cappy361
Thu May 12, 2011 1:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

any further advice?
by Cappy361
Wed May 11, 2011 10:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

The stock options can be sold at any time. There are always someone within the company willing to buy if someone sells. The more responsibity you have within the company the more shares are offered to you.
by Cappy361
Wed May 11, 2011 10:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

I think it will be easier for me to put the money into her 401k. She got one index fund option that charges .05% expense ratio. Only bad thing is the fund does not have a ticker symbol and has an usually high 7% holding in Citi.
by Cappy361
Wed May 11, 2011 12:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

I'm expecting a bonus of 10k this month. Will that affect the amount of deduction I'll be able to take. I was trying to figure it out through the IRS website but that just confused me more.
by Cappy361
Wed May 11, 2011 10:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

The valuation of the stock is done annually based on a formula value calculation. formula value is modified book value calculation The Formula value calculation for current year and based on prior year audit financial statements which is then reduce by dividends. I would probably be the odd man out ...
by Cappy361
Tue May 10, 2011 9:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

New plan His - 40k Annual Pay Company 401K Traditional - Max allowable contribution of 20 percent about 8k (plenty of low cost options) Additional 8% Match - total 11,200 Roth IRA - Max Annual Contribution 5k @ Vanguard Hers - 60k Annual Pay Company Traditional 401K - 4k Annual Contribution (Low exp...
by Cappy361
Tue May 10, 2011 9:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

I'm probaby stating it wrong but what I meant to say is that they offer you to become a shareholder. It's something everyone that works for the company look forward to. Once you have worked for the company for 5 years a member of upper management nominates to become a shareholder. Then it goes to th...
by Cappy361
Tue May 10, 2011 9:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

No taxable accounts. I looked into the her 401k rules and it allows contributions up to 16,500 so we are still able about 5,500 left. I'm thinking about scrapping one of our roth IRA and making extra contributions to her 401k.
by Cappy361
Tue May 10, 2011 8:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

I think I am eligible. Due to my company policy on allowing max contributions of 20% of your pay. I am unable to contribute the max contributions of 16,500. I currently contribute about 10k per year with company match.
by Cappy361
Tue May 10, 2011 7:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

You have to buy all they offer you. If not I will have to wait till next year.
by Cappy361
Tue May 10, 2011 7:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

I'm sorry but I phrased the question wrong. I wanted to know if it be a good idea for me to contribute everything into traditional 401k and IRA.
by Cappy361
Tue May 10, 2011 6:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

It will probably take me about 6 months to replenish the funds. I dont know if there will be consequences for not investing but I enjoy working their and they are moving me up. I have had 3 promotions in 5 years and positive feedback from upper management. I do not have any taxable holdings. All of ...
by Cappy361
Tue May 10, 2011 6:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

Emergency Fund Question! Stock Options

I have about 15k in my emergency fund. I been recently offered stock options that would cost me about 13k to buy into. It's a big deal at our company to be offered stock but i'm a little worried. My company is private and has been average 25% annual rate of return and 4.5% dividend . I know that doe...
by Cappy361
Tue May 10, 2011 5:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Question! Stock Options
Replies: 19
Views: 1697

Question about Roth VS Traditional

I need some help on what to do. I thought I was satisfied with my current setup but the more I read the more questions I have(The Finance Buff - Traditional vs Roth). We are both in our early stages of our careers and hopefully to continue to make more money and be in a higher tax bracket in a few y...
by Cappy361
Tue May 10, 2011 5:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question about Roth VS Traditional
Replies: 15
Views: 1273

Need help rebalancing portfolio

Desired AA 90/10 Stocks/Bonds 31 years old portfolio $65k Yearly contribution 24k Current Percentages/Fund Name/Ticker Symbol/Expense Ratio 35.10% American Funds EuroP Foreign Large Blend RERFX .56 20.6 Dreyfus/The Boston C Small Blend STSVX .96 16.30 Vanguard Institution Large Blend VINIX .05 11.00...
by Cappy361
Sun Feb 27, 2011 3:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help rebalancing portfolio
Replies: 2
Views: 411
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