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Re: Is my husband a spendthrift? Or I a tightwad?

OP, if you haven't already read this, I recommend you read The Millionaire Next Door - although the book was released nearly 20 years ago, much of what is in that book holds true today. Media portrays the rich as having attained their wealth though stock options, IPO's, lottery winners. The real tru...
by Grt2bOutdoors
Thu Oct 02, 2014 9:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 116
Views: 6886

Re: Leaving a legacy

Get your hands on a copy of Beyond The Grave, you can control it from there if you are worried about spendthrift behaviors. If what you say is true, which I don't believe - case in point: The Greatest Generation earned it, the Boomers have spent it, leaving Generation X, Y and Millenials holding the...
by Grt2bOutdoors
Thu Oct 02, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Leaving a legacy
Replies: 19
Views: 557

Re: Need advice; Significant Student Loan Burden

Thanks guys. Hardest part is getting started. Lots of money coming in at different times and lots bills and payments going out at different times. Trying to figure out a low maintenance cash flow plan where we are FORCED to live off less and we can consistently max our extra payments to the right l...
by Grt2bOutdoors
Wed Oct 01, 2014 8:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice; Significant Student Loan Burden
Replies: 23
Views: 1687

Re: Fairholme Fund (FAIRX) down 9.6% today

Fannie and Freddie are down 30%+ on a bad court ruling (bad for their shareholders anyway, good for the taxpayer). http://blogs.wsj.com/moneybeat/2014/10/01/fannie-freddie-take-a-beating-in-four-charts/?mod=yahoo_hs Among the biggest losers stand to be prominent hedge fund managers, such as Richard...
by Grt2bOutdoors
Wed Oct 01, 2014 8:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fairholme Fund (FAIRX) down 9.6% today
Replies: 5
Views: 679

Re: Help with 401k max out

Ask your employer if they provide a "true-up" in match contributions for employees who max out before the end of year?
Some employers do and some do not (like my spouses :oops: ).
by Grt2bOutdoors
Wed Oct 01, 2014 4:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with 401k max out
Replies: 6
Views: 413

Re: Is my husband a spendthrift? Or I a tightwad?

There should be joint money (Groceries, bills, mortgage, going out as a couple or a family), and his and her money. Makes it much easier when money is "tight". My wife and I did this for many years until our income grew to where it was no longer necessary. They are at that income level no...
by Grt2bOutdoors
Wed Oct 01, 2014 2:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 116
Views: 6886

Re: Is my husband a spendthrift? Or I a tightwad?

I drew up a simple budget whereby I held back the money we needed for bills and divvied up the rest into a weekly allowance. He got $600, I got $250. His covered weekly groceries (plus gas, fun money, etc), mine covered all other household/kid expenses outside of groceries (plus gas, fun money etc)...
by Grt2bOutdoors
Wed Oct 01, 2014 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 116
Views: 6886

Re: I want to pay off my mortgage.

Pay it off!!!
by Grt2bOutdoors
Wed Oct 01, 2014 2:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: I want to pay off my mortgage.
Replies: 34
Views: 2076

Re: Saving for children's College education

Local state college in my geographic region costs $33K per year. Your $40K estimate may be a tad low given you are trying to project out twenty years from now. Prices don't decline, and it may be difficult for them to remain stagnant as well - one can always hope, right?
by Grt2bOutdoors
Wed Oct 01, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Saving for children's College education
Replies: 2
Views: 363

Re: Finding Equivalent Vanguard Muni Fund

Thanks, Linenforte. I see it's 28% Puerto Rican bonds. Also, total assets adds up to 114%. I assume that means it's leveraged. Again, I claim no expertise, but it is sounding high risk and volatile. Spend $2 and pick up a copy of today's WSJ - page C4 headline top of page "Puerto Rico Bond Pla...
by Grt2bOutdoors
Wed Oct 01, 2014 1:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Finding Equivalent Vanguard Muni Fund
Replies: 5
Views: 377

Re: I want to pay off my mortgage.

Get rid of it........if your employment is secure. If your employment is unsecure, then keep it but move the money to something more stable like an FDIC insured savings account. Stability is important to a family as is your peace of mind. If you're unemployed, work in an industry where it takes 5 ye...
by Grt2bOutdoors
Wed Oct 01, 2014 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: I want to pay off my mortgage.
Replies: 34
Views: 2076

Re: Just looking for a nudge

Are you retiring in 20 years? Or are you departing for the afterlife in 20 years? It's a big difference. If it is the former, place 60%-70% of your money in equities, place the remainder in an intermediate bond index fund and let it ride. Don't play with it other than to periodically rebalance back ...
by Grt2bOutdoors
Wed Oct 01, 2014 11:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Just looking for a nudge
Replies: 11
Views: 820

Re: Should I buy this house

You are getting excellent advice from seasoned investors. And it is straightforward advice posters with money to burn; many people in this forum could stroke a check and buy the house you are contemplating for cash -- and these people are telling you to slow down. I tell you this to impress upon yo...
by Grt2bOutdoors
Wed Oct 01, 2014 10:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house
Replies: 32
Views: 1722

Re: Should I buy this house

You're not in a financial position to buy a house in this price range in spite of your income. You will be left with essentially no savings in relation to your income and a huge mortgage obligation. Also, you're setting yourselves up for all the other expense that goes with a $1.5 million house. Wa...
by Grt2bOutdoors
Wed Oct 01, 2014 10:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house
Replies: 32
Views: 1722

Re: Is my husband a spendthrift? Or I a tightwad?

You're making $250K gross, likely coming home with close to $150K net a year, of that $36K goes to childcare. How much is going towards the mortgage, food bill, electric and gas bill, car insurance, health insurance, life insurance, 529 plan (if any) and taxable savings? Those should be the biggest ...
by Grt2bOutdoors
Wed Oct 01, 2014 9:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 116
Views: 6886

Re: 401 K Question

As long as the money in the account is fully vested, your former employer can't touch it. It's yours. As someone else said, put the money where ever the better investments are. If that happens to be where it already is, you're done! It is perfectly fine to roll the money over to your new 401k assum...
by Grt2bOutdoors
Wed Oct 01, 2014 8:58 am
 
Forum: Investing - Help with Personal Investments
Topic: 401 K Question
Replies: 11
Views: 469

Re: How Long Should I Keep My Car?

As long as it runs.......
but expect to replace on a regular basis - the oil.
Radiator fluid
Battery
Brakes - depending on if you have a "lead" foot.
Transmission fluid
Air filter
Tires
Maybe a light bulb every now and then
The belts - fan, a/c, alternator
by Grt2bOutdoors
Tue Sep 30, 2014 8:23 pm
 
Forum: Personal Consumer Issues
Topic: How Long Should I Keep My Car?
Replies: 43
Views: 2990

Re: Vanguard: "Don't let debt delay or derail your retiremen

+1 to both of you. This year my already low grocery bill is up close to 20% (to those at the Fed who says there is no inflation, my bill indicates otherwise), my property taxes are up, health insurance is up by double digits, clothing is up, public transportation is up by double digits, doctors bil...
by Grt2bOutdoors
Tue Sep 30, 2014 2:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Don't let debt delay or derail your retirement"
Replies: 33
Views: 2153

Re: When should someone "not stay the course"?

Did you include dividends in your calculations? Total return is the combination of dividends and capital appreciation. Over 40% of total return comes from dividends, strip that away and most of your compounding gains are erased. BTW, you may want to consider value averaging.....aim to accumulate sha...
by Grt2bOutdoors
Tue Sep 30, 2014 2:47 pm
 
Forum: Investing - Theory, News & General
Topic: When should someone "not stay the course"?
Replies: 43
Views: 2447

Re: What to Do next? Life Events + What To Invest?

Most would not recommend a 529 until you are completely maxing 401k and IRA. The details are complicated, but I was convinced after about a week of reading about it. There is no shortage of threads on the topic if you just search on Google: bogleheads 529 IRA Careful, some states provide valuable t...
by Grt2bOutdoors
Tue Sep 30, 2014 1:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to Do next? Life Events + What To Invest?
Replies: 8
Views: 841

Re: Vanguard: "Don't let debt delay or derail your retiremen

Whoa! Slow down there killer. No one is personally attacking you for your choices or your life situation. I'm sorry to hear about your husband losing his battle with cancer. We're currently dealing with this with my mother-in-law. Cancer sucks. However, this article, as was mentioned previously, ba...
by Grt2bOutdoors
Tue Sep 30, 2014 1:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Don't let debt delay or derail your retirement"
Replies: 33
Views: 2153

Re: Vanguard: "Don't let debt delay or derail your retiremen

the only problem I have Gordon is that these stories make all Americans sound like irresponsible spend thrifts. and I totally admit that I resent that. I know a lot of people that live way beyond their means. I know a few that do nothing to improve their situation. I try to help everyone by casuall...
by Grt2bOutdoors
Tue Sep 30, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Don't let debt delay or derail your retirement"
Replies: 33
Views: 2153

Re: Vanguard: "Don't let debt delay or derail your retiremen

Me thinks Vanguard is letting those trillions in management go to it's head. Quoting experts that say you need to replace 70 to 80% of your pre-retirement income? :oops: Come-on Vanguard.....get with the program - 20 to 25x expenses less other income sources, not income!!! Quoting "hello walle...
by Grt2bOutdoors
Tue Sep 30, 2014 12:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Don't let debt delay or derail your retirement"
Replies: 33
Views: 2153

Re: Vanguard: "Don't let debt delay or derail your retiremen

Me thinks Vanguard is letting those trillions in management go to it's head. Quoting experts that say you need to replace 70 to 80% of your pre-retirement income? :oops: Come-on Vanguard.....get with the program - 20 to 25x expenses less other income sources, not income!!! Quoting "hello wallet...
by Grt2bOutdoors
Tue Sep 30, 2014 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Don't let debt delay or derail your retirement"
Replies: 33
Views: 2153

Re: need for a backup credit card?

I have 4, two I use regularly, one I stopped using on account of being hacked twice - once in Target and once in Home Depot ( :annoyed ). The one I stopped using is due to my own "fraud monitoring service" - no activity on my part, the second I see activity on it, will be the end of my rel...
by Grt2bOutdoors
Tue Sep 30, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: need for a backup credit card?
Replies: 37
Views: 1531

Re: Assistance with Medicare costs for lowish income seniors

How about the Medicare Advantage programs with prescription coverage? That's like an all in one network group plan.
by Grt2bOutdoors
Tue Sep 30, 2014 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Assistance with Medicare costs for lowish income seniors
Replies: 11
Views: 797

Re: Should I pay off my sisters student loans?

Pay it off if you want, but remember....this may be the start of a precedence.....loans today, tomorrow it will be for her wedding, then her house....etc. I vote for paying for half up front - an $80K loan balance is not nearly as dire as a $168K loan balance. Personal responsibility, remember? We ...
by Grt2bOutdoors
Tue Sep 30, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my sisters student loans?
Replies: 49
Views: 3389

Re: Should I pay off my sisters student loans?

Interesting thing about statistics - they can be manipulated to portray what you want to express. Of the 15 to 20% who are non-paying, how much of the debt is related to private educational diploma mills offering technical job studies? Of the 15 to 20% how many are law graduates? What's really unten...
by Grt2bOutdoors
Tue Sep 30, 2014 8:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my sisters student loans?
Replies: 49
Views: 3389

Re: High yield muni bonds

If you want to take some risk, you could consider the barbell approach - majority of fixed income investments in high quality bonds, a sliver in high yield. The key is to be cognizant that you are taking disproportionate risk with that sliver and you could lose a decent chunk of it. By investing a m...
by Grt2bOutdoors
Tue Sep 30, 2014 8:21 am
 
Forum: Investing - Help with Personal Investments
Topic: High yield muni bonds
Replies: 16
Views: 1057

Re: Help me divorce my Stocks

How long have you had SJM? I ask because it has not under-performed the market, but past performance is no guarantee of future performance.
by Grt2bOutdoors
Mon Sep 29, 2014 8:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help me divorce my Stocks
Replies: 16
Views: 1525

Re: High yield muni bonds

I am considering various ways to generate income from my portfolio. Has anyone used high yield muni bonds in their strategy? Thanks in advance for any insights. Define "high yield" munis - are they distressed bonds or are the simply longer term municipal bonds? I mean, you could have boug...
by Grt2bOutdoors
Mon Sep 29, 2014 8:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: High yield muni bonds
Replies: 16
Views: 1057

Re: Aspiring Personal Finance Advisor

Thanks Rick. :)
by Grt2bOutdoors
Mon Sep 29, 2014 8:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Aspiring Personal Finance Advisor
Replies: 6
Views: 947

Re: How can I stop feeling depressed about my finances?

Your fundamental mistake was choosing to pursue an English degree. Try pursuing another field more aligned with the compensation you desire. Really? :oops: What degree do you suggest instead? :?: There's plenty you can do with an English degree and it doesn't involve being a petroleum transfer tech...
by Grt2bOutdoors
Mon Sep 29, 2014 5:31 pm
 
Forum: Personal Consumer Issues
Topic: How can I stop feeling depressed about my finances?
Replies: 94
Views: 6204

Re: Aspiring Personal Finance Advisor

Do you wish to keep your CPA license? If so, you might want to read the regs from the AICPA on advising external parties on investing and possible repercussion if it goes south and they report you for some reason or another. Will you be accepting payment for providing advice? Then at minimum you sho...
by Grt2bOutdoors
Mon Sep 29, 2014 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Aspiring Personal Finance Advisor
Replies: 6
Views: 947

Re: Need advice on investment with loaned money

Assume the rate is 3.25% for securities investment and 3% for mortgage, any advice on my investment questions? Forget borrowing money at 3.25% for investing. Does earning 1-2% on money after-taxes sound like a home run to you? You could get a good job and earn at least 2x that figure, if not more.
by Grt2bOutdoors
Mon Sep 29, 2014 5:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need advice on investment with loaned money
Replies: 12
Views: 840

Re: Can I open an immediate annuity with IRA money?

Best to use SPIA's later in life to capture the mortality credits, likely best returns received in your 70's (actually your 80's) but if you don't want to roll the dice, 70's is as good a time as any.
by Grt2bOutdoors
Mon Sep 29, 2014 5:02 pm
 
Forum: Investing - Theory, News & General
Topic: Can I open an immediate annuity with IRA money?
Replies: 4
Views: 495

Re: Owning Your Company's Bonds?

I'd love to own bonds in our corp. They pay out at 6.5%, but the spread to buy them from trad'l brokerages is way to high for me. PG£E, Enron, MCI-Worldcom, adelphia, Tyco, US Air, Conseco, Trump Entertainment, Delta Airlines, Northwest Airlines, Delphi, Rwfco, Indymac, WAMU, Lehman Bros, Tribune G...
by Grt2bOutdoors
Mon Sep 29, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Owning Your Company's Bonds?
Replies: 6
Views: 330

Money Makeovers - Are these legitimate stories?

Okay folks, once more Living Beneath Your Means is the only way to stay out of debt and the only way you can enjoy your life without added stress. I question whether stories published in national newspapers are being truthful. Hard to believe someone making close to $4K net in retirement can't swing...
by Grt2bOutdoors
Mon Sep 29, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money Makeovers - Are these legitimate stories?
Replies: 8
Views: 1317

Re: Owning Your Company's Bonds?

The yield is supremely superior to other options, the bonds are AAA rated, the bonds are senior and secured to all other outstanding obligations of the company - the chances of all 3 criteria being present are "nil", therefore the answer is no. If you want corporate exposure purchase a cor...
by Grt2bOutdoors
Mon Sep 29, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Owning Your Company's Bonds?
Replies: 6
Views: 330

Re: List of current takeover targets?

Can anyone suggest sites that list stocks/symbols that are current takeover targets? (for the purpose of avoidance) Thank you. Brooks How do you look in orange? How about pin stripes? Can you swing a sledgehammer? How handy are you with a broom? :twisted: Can you be that serious as to even post suc...
by Grt2bOutdoors
Mon Sep 29, 2014 8:56 am
 
Forum: Investing - Help with Personal Investments
Topic: List of current takeover targets?
Replies: 4
Views: 456

Re: Financial advice

Can you upgrade your current home instead of selling and buying again? The thought here is to eliminate the high transaction costs associated with purchase and sales, instead you keep that money and either refinance/use some of your current taxable account to upgrade the home the way you like, but b...
by Grt2bOutdoors
Mon Sep 29, 2014 8:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Financial advice
Replies: 6
Views: 961

Re: Need advice on investment with loaned money

trueblueky wrote:What is the interest rate on the loan?


+1
by Grt2bOutdoors
Mon Sep 29, 2014 8:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Need advice on investment with loaned money
Replies: 12
Views: 840

Re: POLL: When I gift/will shares to my relatives, I expect

should there be anything left, I expect them to sell it all and use it as they see fit. Money is meant to be used to better one's self, not to be hoarded - for that they can keep my gold and silver coins. :moneybag :greedy :moneybag
by Grt2bOutdoors
Mon Sep 29, 2014 8:36 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: When I gift/will shares to my relatives, I expect ...
Replies: 24
Views: 1550

Re: Paid off mortgage today

Congrats! :sharebeer
by Grt2bOutdoors
Sun Sep 28, 2014 8:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage today
Replies: 26
Views: 3008

Re: Those under 35 with a child 5 or under: Costs of child?

What does one's age have to do with the costs of a child 5 and under? Do you really believe costs go up or down as an adult ages? :oops: No one gets a break on costs regardless of their age. Now onto the real meat and potatoes, how much it costs: It costs 24 hours, 60 minutes and 60 seconds of your ...
by Grt2bOutdoors
Sun Sep 28, 2014 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Those under 35 with a child 5 or under: Costs of child?
Replies: 53
Views: 3489

Re: Starting a railroad career

My uncle was a railroad engineer (fancy way of saying that he drove the locomotives). It is a hard job. Very erratic hours, and he was away from home a lot. Quite frankly, the job made it pretty much impossible for him to have a family. Vacation planning was near impossible. I suspect that he made ...
by Grt2bOutdoors
Sun Sep 28, 2014 8:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Starting a railroad career
Replies: 11
Views: 1590

Re: Need advice; Significant Student Loan Burden

Thanks guys. Certainly don't feel rich. Take home combined around 23k BEFORE any deduction. Don't see the 3 year payoff option while still investing. $23K in monthly net income minus $8K in monthly necessities = $15K discretionary income ($180K). Take $2.5K for yourselves (that's $30K in discretion...
by Grt2bOutdoors
Sun Sep 28, 2014 7:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice; Significant Student Loan Burden
Replies: 23
Views: 1687

Re: Need advice; Significant Student Loan Burden

Thanks everyone for the sound advice. I don't believe my 401k allows more than the 17,500. I don't think hers does either. As I have been exploring the forums for the last week or so, I had also been advised by some of my ex-partners in the medical field of an Advisor that all of them apparently ar...
by Grt2bOutdoors
Sun Sep 28, 2014 7:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice; Significant Student Loan Burden
Replies: 23
Views: 1687

Re: Unexpected Emergency

In my next life, I'm going to come back as an oral surgeon or dentist....... :moneybag :dollar :moneybag
by Grt2bOutdoors
Fri Sep 26, 2014 8:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Unexpected Emergency
Replies: 33
Views: 3221
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