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Re: Girlfriend with a LOT of Student debt.

We are not seeing the big picture here, so I think it's a little harsh to be making sweeping judgements about this girl's viability as a partner or about what the OP should do. We don't know how much either of you make, where you live, what your family backgrounds are financially, or even what the g...
by Meg77
Mon Nov 24, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Girlfriend with a LOT of Student debt.
Replies: 139
Views: 9135

Re: What were your biggest financial emergencies?

As far as your question is concerned, there are only a few "emergencies" I can think of that require access to actual cash in a short amount of time: bailing somebody out of jail and getting a car out of an impound lot. You have to have cash in the bank (or in a safe) in order to access qu...
by Meg77
Fri Nov 21, 2014 12:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: What were your biggest financial emergencies?
Replies: 39
Views: 3782

Re: What doyou splurge on?

I splurge too often, but here are some of the things I like to splurge on: Occasional massages, also regular (every 4-6 weeks) deluxe pedicures which I do primarily for the leg and foot massages Occasional very overpriced dinners (and drinks) out A housekeeper to come twice a month (even though I ha...
by Meg77
Fri Nov 21, 2014 12:22 pm
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 145
Views: 8162

Re: What financial tools/software do you use?

I use SigFig.com (I use the app) which is the best investment aggregation tool I've found. All my husband's and my investment accounts are automatically pulled from and updated daily - like Mint except that more accounts are found there, like his HSA. It has slick charts and graphs showing everythin...
by Meg77
Wed Nov 19, 2014 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: What financial tools/software do you use?
Replies: 35
Views: 2219

Re: Advice for a new 25 year old investor

You're doing great! Those two funds you chose are great. I like the VG funds too, but the expense ratios are a bit higher so why not keep it cheaper. I would not add bonds at your age, particularly as bond values are likely to dip as rates rise over the next few years. Wait until you are 30 or 35 (a...
by Meg77
Wed Nov 19, 2014 12:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a new 25 year old investor
Replies: 12
Views: 1490

Re: I may not make my retirement goals! What to do?

27% does seem like a very low stock allocation for somebody in their mid 60's who could live another 30 years. I agree that you should probably ratchet that up to more like 35% - and I also agree that while the markets are hitting all time highs doesn't seem like the best time to do so. You can alwa...
by Meg77
Wed Nov 19, 2014 11:53 am
 
Forum: Investing - Help with Personal Investments
Topic: I may not make my retirement goals! What to do?
Replies: 49
Views: 3354

Re: Poll: How much $ for childcare?

I don't have kids, so I didn't respond to the poll, although I think you'd be better off to find out what the local daycare or a nearby nanny charges and use that as a starting point. Childcare costs vary dramatically even within one city or state depending on all kinds of factors. I do agree that i...
by Meg77
Wed Nov 19, 2014 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much $ for childcare?
Replies: 20
Views: 1842

Re: Poll: Net cost of your checking account annually?

Account One (Joint, Primary): My local bank cut interest from 2% to 1.25% this year (up to $25K), so I earn about $250 a year with an average balance around $20K. I still get free ATMs and haven't had any OD fees; no monthly fees wither so my costs are nil. Account Two (Joint, Secondary): I have to ...
by Meg77
Wed Nov 19, 2014 10:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Net cost of your checking account annually?
Replies: 44
Views: 2244

Re: Advice for Another Mother

This may be unrelated to your concerns, but if your mother is still working, why is she living off any portion of her retirement portfolio? Ideally she would still be contributing to retirement accounts while she's working and before she retires. Second best would be not touching the account and let...
by Meg77
Mon Nov 17, 2014 2:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for Another Mother
Replies: 14
Views: 2175

Re: When do your account returns dwarf your contributions?

I've been thinking about this as well! I thought I was getting close to the tipping point, but then I got married and was able to increase contributions (while not increasing the portfolio by as much), so even though I'm able to save more now, I'm further away from that tipping point goal. :P It's a...
by Meg77
Mon Nov 17, 2014 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: When do your account returns dwarf your contributions?
Replies: 51
Views: 5728

Re: Could you rent out your house?

For $1000 bucks a night I'd probably be all over it. If they want to stay a week that's fine by me! Although the hotels in your area will also be overpriced and/or full, so you'd probably have to play to stay with family or out of town to make it worth it (maybe schedule your usual annual vacation t...
by Meg77
Mon Nov 17, 2014 12:29 pm
 
Forum: Personal Consumer Issues
Topic: [Should I] rent out [my] house [for a 3-day event]?
Replies: 68
Views: 4047

Re: Extreme Generosity / Limiting Net Worth

This is very interesting for me, and I thank you for bringing up a topic very much associated with wealth (the primary focus of this forum), but much less often discussed than building it and spending it. I have had several instances in my life where I felt compelled to give away large chunks of my ...
by Meg77
Mon Nov 17, 2014 12:21 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 9849

Re: How often do you go out to dinner?

Most of my dining out consists of lunches (including brunch on the weekend) and happy hour (which I don't count as "dinner out" even if I have an appetizer). There are many weeks where I don't eat dinner out at all, but other times it might reach 3-4 times if we have a lot going on (someti...
by Meg77
Mon Nov 17, 2014 10:57 am
 
Forum: Personal Consumer Issues
Topic: How often do you go out to dinner?
Replies: 60
Views: 4557

Re: 20K Inheritance, now what?

You sound like you are doing great! If it were me I would max out the Roth IRA as quickly as possible with the windfall, rather than a little at a time out of your income. Then contribute to the taxable account little by little from your regular income. The reason is that the sooner you put money in...
by Meg77
Fri Nov 14, 2014 3:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 50
Views: 3553

Re: 36 y.o. New at investing, am I in too much debt?

Welcome to the forum! All things considered you are doing FINE. You have lots of room for improvement by Boglehead standards, but the good news is that you are way ahead of most Americans. You have a great, high income, and you own a nice house, and you have 2 cars paid off, and you are prioritizing...
by Meg77
Fri Nov 14, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 36 y.o. New at investing, am I in too much debt?
Replies: 63
Views: 4886

Re: If your networth is over $3 million, how did you do it?

My parents are both there - largely from inheritances. Both sets of my grandparents started out poor and built family businesses over several decades. Both sets hit or got very close to $10MM in net worth as a result. I'm not there yet but am well on my way due to a lot of luck, some hard work, and ...
by Meg77
Fri Nov 14, 2014 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: If your networth is over $3 million, how did you do it?
Replies: 246
Views: 23420

Re: Isn't everybody here market timing, by definition?

It's not market timing to save a percentage of your income during every month that you have income and then to sell a certain percentage of your assets every month that you are in retirement. Sure, we are all stuck in whatever time frame we happen to be born, but that doesn't make us market "ti...
by Meg77
Fri Nov 14, 2014 2:14 pm
 
Forum: Investing - Theory, News & General
Topic: Isn't everybody here market timing, by definition?
Replies: 32
Views: 1902

Re: Real estate as my "million dollar idea"

To everyone trying to show the benefits of using leverage: I just simply can't see the benefits outweighing the risks. 1- You lose out on the ability to close on deals fast, on the spot, and cheaper by offering cash on the spot. The age old saying of "MAKE YOUR MONEY ON THE BUY" is all I ...
by Meg77
Fri Nov 14, 2014 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 6560

Re: Real estate as my "million dollar idea"

You sound like the ideal candidate to do real estate investing: * You have experience with construction work, concrete, HVAC, plumbing, etc. * Your father-in-law has a ton of experience managing real estate investment properties and can give you invaluable advice and contacts * The area you live in...
by Meg77
Wed Nov 12, 2014 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 6560

Re: Double Cash Credit Card from CITI

I have the Citi card now too and it's my primary card. Use the Amex Preferred for 6% on groceries and 3% on gas though.
by Meg77
Wed Nov 12, 2014 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Double Cash Credit Card from CITI
Replies: 13
Views: 1501

Re: mortgage rates

There isn't enough information here to figure out what kind of rate you could get. Mortgage rates and terms will vary depending on whether the home can be classified as your primary residence, as a second home, or as a rental property. I'm not sure about Florida's rules. In general 30 year fixed loa...
by Meg77
Wed Nov 12, 2014 12:37 pm
 
Forum: Personal Consumer Issues
Topic: mortgage rates
Replies: 1
Views: 314

Re: Save now.... Or later?

The usual advice is to drain your taxable investments before moving on to tax-advantaged accounts. The reason is that you want the funds in tax-sheltered accounts to compound tax-free for as long as possible. You have an additional incentive - getting a subsidy on your health insurance premiums. I'm...
by Meg77
Wed Nov 12, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Save now.... Or later?
Replies: 11
Views: 1847

Re: Food Frugality: Where do you draw the line?

I was just now thinking about this very topic after visiting the break room for free filtered water and noticing a fresh German chocolate cake - the fancy bakery kind, not the grocery store sheet stuff - sitting there calling for me. As I enjoyed a small slice, I found myself trying to rationalize t...
by Meg77
Wed Nov 12, 2014 12:19 pm
 
Forum: Personal Consumer Issues
Topic: Food Frugality: Where do you draw the line?
Replies: 94
Views: 6527

Re: 25 y.o. -- Is it "rebalancing" if I've never "balanced"?

You're doing great! 1. Definitely put 100% of your 401k contributions (and current balances) in the S&P 500 index. It's often the option with the lowest fees, plus it's a great foundation for the majority of your portfolio. (FWIW Warren Buffet has his will set up to dictate that his estate be in...
by Meg77
Sun Nov 09, 2014 11:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: 25 y.o. -- Is it "rebalancing" if I've never "balanced"?
Replies: 9
Views: 1827

Re: Should we refinance?

I'm a banker and I'm a bit confused. How can you avoid PMI if you are going to have an LTV of 90%? Usually mortgage rates from major lenders are very close on 30 yr fixed and 15 yr fixed options. There's a reason Wells Fargo is offering you such significantly higher rate. My hunch is that they know ...
by Meg77
Fri Nov 07, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should we refinance?
Replies: 30
Views: 1733

Re: What To Do With $85K Inheritance?

My husband and I had a long talk last night about setting up an IPS, and we established a few things. 1 - He's firmly against using these funds or any others to pay down his student loan or the car loans at least in the short term. 2 - Liquidity is paramount for us both and is the #1 priority. He wo...
by Meg77
Thu Nov 06, 2014 3:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: ESPP vs. Mega Back Door Roth

The ESPP is clearly a winner in my view. A 15% match/bonus is hard to beat, especially if the mandatory holding period is less than one year. The first 6 months is hardest, but then you roll the money in and out without it impacting cash flow at all. As the other poster pointed out, you can then do ...
by Meg77
Wed Nov 05, 2014 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: ESPP vs. Mega Back Door Roth
Replies: 2
Views: 226

Re: What To Do With $85K Inheritance?

Emergency funds: 6 months ($105K - covers rentals and personal) Debt: All rates are fixed except for the student loan Credit Card 1 $14K 0.00% (to be paid w bonus income before maturity) Credit Card 2 $14K 0.00% (to be paid w bonus income before maturity) With $105,000 laying around why do you have...
by Meg77
Wed Nov 05, 2014 5:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: What To Do With $85K Inheritance?

Personally, since you're married I would look at all assets and debts as one. Since your assets and debts are complicated I would start out by asking yourself this question. Where do you want to be in 5 years financially? Then maybe you can back into some of these decisions. Here's what I would do....
by Meg77
Wed Nov 05, 2014 5:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: Should I consider moving closer to work?

Commutes are terrible; they eat up a lot of the time and energy that could be spent doing all the things that boost people's happiness the most - things like socializing, exercising, cooking. The only thing I feel like doing after a commute is drinking and plopping in front of the TV - not the best ...
by Meg77
Wed Nov 05, 2014 4:13 pm
 
Forum: Personal Consumer Issues
Topic: Should I consider moving closer to work?
Replies: 37
Views: 2561

Re: What To Do With $85K Inheritance?

Meg I really like a lot of your posts on these forums as you come across as very knowledgeable and you offer up some sound advice. Personally, I think you over-utilize credit and are carrying too many notes on different items. If I was in your shoes I would eliminate the Credit Cards and Car Paymen...
by Meg77
Wed Nov 05, 2014 3:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: What To Do With $85K Inheritance?

Meg I really like a lot of your posts on these forums as you come across as very knowledgeable and you offer up some sound advice. Personally, I think you over-utilize credit and are carrying too many notes on different items. If I was in your shoes I would eliminate the Credit Cards and Car Paymen...
by Meg77
Wed Nov 05, 2014 3:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: New Boglehead seeking advice

I'd put 100% of my 401a contribution into PLFMX (their version of an S&P 500 index) and then use your IRA for cheaper international, bond, and small cap options. Usually the best course of action is to invest enough to get the employer match (if any), then focus on maxing out a Roth IRA. Traditi...
by Meg77
Wed Nov 05, 2014 3:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Boglehead seeking advice
Replies: 5
Views: 287

Re: What To Do With $85K Inheritance?

Do you have an investment policy statement ? You have a complex set of investments. You're bound to have an influx of cash (e.g., sale of an investment property) several times over the next few years. Rather than deal with each one ad hoc, it makes sense to sit back and develop an IPS than can serv...
by Meg77
Wed Nov 05, 2014 3:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

What To Do With $85K Inheritance?

Emergency funds: 6 months ($105K - covers rentals and personal) Debt: All rates are fixed except for the student loan Home $405K 4.25% (29/30 yrs remaining) Auto 1 $9K 2.74% (1/5 yr remaining) Auto 2 $35K 2.15% (5/5 yrs remaining) EDU $67K 2.73% (14/15 yrs remaining) Credit Card 1 $14K 0.00% (to be...
by Meg77
Wed Nov 05, 2014 3:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2806

Re: Cash - Throw it on the table!

My relationship with cash is complicated and divvied up into multiple "buckets" both physically and psychologically. Personal I have always prioritized retirement savings over having a "fully funded" cash reserve. I tend to spend more when my personal cash balances get too high, ...
by Meg77
Wed Nov 05, 2014 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 51
Views: 3746

Re: 27 yr old reaches $1m net worth

I really enjoyed that article, as I have tried to follow a similar path. This guy is much more determined and has achieved much better/quicker results than I've had though. I also started maxing out a Roth IRA at 18 and was determined to become a millionaire by age 30 from a very young age after stu...
by Meg77
Wed Nov 05, 2014 12:10 pm
 
Forum: Investing - Theory, News & General
Topic: 27 yr old reaches $1m net worth [Update: With lies.]
Replies: 56
Views: 10769

Re: First House Question

Hi there! Congrats on a truly great financial foundation for your new family. :sharebeer The good news is that you have a lot of options. The bad news is...that means there are lots of tradeoffs and decisions to make! I work in banking and do a lot of mortgages, and I definitely understand your conf...
by Meg77
Tue Nov 04, 2014 5:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: First House Question
Replies: 23
Views: 2087

Re: What to do with a million

So if I understand correctly, you have 1.6MM of investments in total. You are retired with a small pension and haven't taken social security yet. I will assume your wife is retired as well. I don't know why you consider the $1M as a separate "bucket" from the other $600K. I assume it's bec...
by Meg77
Tue Nov 04, 2014 4:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with a million
Replies: 26
Views: 3857

Re: Company stock

That's quite a long vesting period by ESPP standards, but still, 33% is quite the match. By comparison, my husband's ESPP gives him 15% in shares as a bonus once he has held his purchased shares one quarter. In effect you are getting the bonus up front so you can benefit from growth (and dividends?)...
by Meg77
Tue Nov 04, 2014 3:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company stock
Replies: 9
Views: 941

Re: Should I stop tracking past performance?

Good idea on stopping performance tracking. Once you've gotten over that, the next thing to quit is tracking miles per gallon in your vehicles continually. And finally, the big enchilada, you get to quit categorizing and tracking all expenditures in mint or YNAB... Yeah, when I read the OP's initia...
by Meg77
Tue Nov 04, 2014 2:49 pm
 
Forum: Investing - Theory, News & General
Topic: Should I stop tracking past performance?
Replies: 36
Views: 2183

Re: Should I pay off student loans with part of emergency fu

Are you doing any other investing besides putting 6% into your 401k? That's not an awesome savings rate considering you're single and earn 6 figures. If I were you I'd only pay extra on that loan after you're at least also maxing out a Roth IRA (or backdoor Roth IRA, depending on your AGI). Arguably...
by Meg77
Tue Nov 04, 2014 2:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I pay off student loans with part of emergency fund?
Replies: 19
Views: 1044

Re: That stress-relieving thing you do at work

jasper wrote:2) google "23 1/2 hours" - video out of Duke - good medical reasons to further support exercise mentioned above. we all know this but pretty powerful stuff


Cool video, thanks!

I zone out and spend half an hour on Bogleheads when I get bored or annoyed at work.
by Meg77
Fri Oct 31, 2014 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: That stress-relieving thing you do at work
Replies: 45
Views: 2871

Re: Possible Relocation to San Francisco - Advice?

Have you really looked at how much housing is over there? Call around and see what you get for your money, it is truly expensive...Have you lived in a city before? It's much different than suburban life like Dallas (which I visit often due to family being there, Plano/Coppell area). We've done a fa...
by Meg77
Wed Oct 29, 2014 4:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Possible Relocation to San Francisco - Advice?
Replies: 23
Views: 1655

Possible Relocation to San Francisco - Advice?

My husband is being recruited by another manager with his current employer for a position in San Francisco. The move would be essentially lateral, although it would come with a pay grade increase (probably a 5-10% bump) plus a cost of living adjustment (TBD), along with the *promise* of a promotion ...
by Meg77
Wed Oct 29, 2014 2:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Possible Relocation to San Francisco - Advice?
Replies: 23
Views: 1655

Re: maximize investment priority - 401k, ira, hsa, lpfsa

The new prioritization would look like this: 1. Max out Roth 401k fully (per fed limits) + company match 2. Max out Backdoor Roth IRA 3. Max out MEGA Backdoor Roth IRA (assuming plan permits appropriately) 4. Max out HSA (spaced out across the year; you control the allocation) 5. Taxable as monies ...
by Meg77
Wed Oct 29, 2014 1:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: maximize investment priority - 401k, ira, hsa, lpfsa
Replies: 23
Views: 1666

Re: maximize investment priority - 401k, ira, hsa, lpfsa

If you can get the match regardless then I agree it makes sense to invest as soon in the year as possible. However you may be missing some tax advantaged space. Here's the general order of priorities, which can vary based on tax bracket, matches, and other details. 1. Max out 401k. Contributing the ...
by Meg77
Tue Oct 28, 2014 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: maximize investment priority - 401k, ira, hsa, lpfsa
Replies: 23
Views: 1666

Re: Gross Yearly Income needed in Retirement (Speculation)

I think a gross income of around $150K would be ideal/sufficient for me to live the type of lifestyle you describe (which fits my plans/goals). $10K a month net would allow me to cover the basics, eat well, live in a comfortable home in a cool neighborhood, travel frequently, and give as freely as I...
by Meg77
Tue Oct 28, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gross Yearly Income needed in Retirement (Speculation)
Replies: 159
Views: 12898

Re: Would You Sell Or Continue Renting Out My Condo?

Why are you considering selling? What would you do with the proceeds from the sale? If you don't need the cash and you have positive cash flow, then just keep it. Every year your equity increases and hopefully so does your cash flow. Once the mortgage is paid off this will be an even nicer source o...
by Meg77
Tue Oct 28, 2014 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would You Sell Or Continue Renting Out My Condo?
Replies: 27
Views: 3334

Re: Closing a house on Thursday but...

None of this sounds like any reason to back out of buying the house. It sounds like you are just getting cold feet and that you don't really understand the process or the roles of those involved. 1. Houses get broken into all the time in all types of neighborhoods. Knowing a robbery had occurred the...
by Meg77
Mon Oct 27, 2014 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Closing a house on Thursday but...
Replies: 21
Views: 2180
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