Search found 1114 matches

by Meg77
Fri Aug 28, 2015 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: I have a Confession...Dave Ramsey...Help!
Replies: 20
Views: 2104

Re: I have a Confession...Dave Ramsey...Help!

Meg, After you (fairly recently) got married and posted about combining your assets, it was obvious to me that you were more interested in building a real estate portfolio with all your rentals than building a mutual fund portfolio. Do you have an IPS and what does it say in this regards to the deb...
by Meg77
Fri Aug 28, 2015 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: I have a Confession...Dave Ramsey...Help!
Replies: 20
Views: 2104

Re: I have a Confession...Dave Ramsey...Help!

Basically his advice seems to be to: 2. Then live on a conservative budget until you get rid of all non-mortgage debt (this may include selling non-retirement investments including rental properties, especially if this step would take more than a couple of years otherwise) He actually advises renta...
by Meg77
Fri Aug 28, 2015 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: I have a Confession...Dave Ramsey...Help!
Replies: 20
Views: 2104

Re: I have a Confession...Dave Ramsey...Help!

Time for a vacation, Meg - seriously. Nothing wrong with listening to Dave, in fact, I use to watch him on cable with callers screaming they were out of debt, but your talking about car debt that is essentially free after inflation - no way would I pay that off, and I absolutely hate debt. The same...
by Meg77
Fri Aug 28, 2015 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: I have a Confession...Dave Ramsey...Help!
Replies: 20
Views: 2104

I have a Confession...Dave Ramsey...Help!

Hi, my name is Meg, and I've been listening to Dave Ramsey. I know, I know. But hear me out. I honestly have no idea what made me start listening to his podcasts last week. I was searching for new ones to download, and it must have been recommended. I've noticed a bunch of threads on him on this sit...
by Meg77
Fri Aug 28, 2015 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Joint finances and cash management
Replies: 33
Views: 1846

Re: Joint finances and cash management

I haven't read all the replies, but my husband and I have been married for about 16 months now so I'll chime in. We eliminated the duplicate checking accounts and are now down to two. We would have just one, but my employer (a bank) requires my paycheck to go into a company account; our other accoun...
by Meg77
Tue Aug 25, 2015 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Parents, windfall, and sale of home
Replies: 12
Views: 1339

Re: Parents, windfall, and sale of home

The million dollar home makes a terrible investment property. $50,000 income sounds like a lot, but that's only 5% of the value of the property - not a great return as far as rentals go - even rentals with mortgages on them. If they want to get into the rental business they would do a lot better to ...
by Meg77
Mon Aug 24, 2015 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Loan Options vs. Selling Stock - Help needed
Replies: 9
Views: 549

Re: Loan Options vs. Selling Stock - Help needed

I am currently looking to access some cash to refinance some higher interest credit card debt and make a few small home improvements. Currently I have a few options and was looking for some advice: Option 1: Sell Stock I currently participate at an ESPP at work, every 6 months we are able to purcha...
by Meg77
Mon Aug 24, 2015 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage questions
Replies: 2
Views: 371

Re: Mortgage questions

I would not pay PMI up front unless you're only paying for 2 years worth of premiums or less (just compare the monthly amount you'd pay for PMI versus the total up front payment). Within 2 years you should have 20% equity and be able to get PMI removed. It's actually not very hard at all; in fact I ...
by Meg77
Thu Aug 20, 2015 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead seeking advice!
Replies: 20
Views: 1448

Re: New Boglehead seeking advice!

1. How should I word having him liquidating and closing the account and transferring it to a different account? 2. Which account should I place my money in? I recently opened up a Merrill Edge account and under BofA Preferred Rewards program, I'm eligible for up to 100 stock and ETF trades a month,...
by Meg77
Thu Aug 20, 2015 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for a down payment? Does this method make sense?
Replies: 3
Views: 514

Re: Saving for a down payment? Does this method make sense?

This is not a good idea. First of all, if you receive any employer matching then check with HR before front loading your 401k contribution. Some companies "true up" their matching at the end of each calendar year and give you the additional match you would have earned if you contributed ev...
by Meg77
Thu Aug 20, 2015 2:59 pm
Forum: Investing - Help with Personal Investments
Topic: Input on portfolio and asset allocation for 30 year old
Replies: 7
Views: 573

Re: Input on portfolio and asset allocation for 30 year old

Stocks ? I'd sell the stocks at a gain that I could. Keep stocks you cannot sell at a gain for 1 more year then sell. Hate to just dump things, and hate to sell anything at a loss. :D Actually selling at a loss will allow you to take a tax write-off, otherwise known as "tax loss harvesting.&qu...
by Meg77
Thu Aug 20, 2015 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Loan repayment vs. Investing
Replies: 6
Views: 722

Re: Loan repayment vs. Investing

Congrats on completing residency and getting that job! Short answer - you want to do both. Invest and repay the debt. An extra few years of compound interest will make a huge difference to your portfolio down the line. At a minimum, go ahead and start maxing out all tax advantaged accounts you have ...
by Meg77
Tue Aug 18, 2015 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: Input on portfolio and asset allocation for 30 year old
Replies: 7
Views: 573

Re: Input on portfolio and asset allocation for 30 year old

I plugged in your investments to Morningstar's X-Ray feature, and your actual asset allocation is as follows: 3.37% cash 82.43% US stocks 8.76% International stocks (9.6% of stocks are international) 5.08% bonds 0.36% other This doesn't include the $5500 HSA cash or the $40K in checking because I co...
by Meg77
Fri Aug 14, 2015 3:57 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead Looking for Advice
Replies: 1
Views: 170

Re: New Boglehead Looking for Advice

Hi Ted! Congrats on a solid financial footing. Before I answer your questions, I have a couple of my own. 1. Why not contribute to your 401k? Are the funds really awful? Even if they are the tax break would be valuable. If you're just maxing a Roth you're only saving 6% of your income toward retirem...
by Meg77
Fri Aug 14, 2015 12:03 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead - Looking For a Little Help
Replies: 56
Views: 3341

Re: New Boglehead - Looking For a Little Help

Hi! I have only read about half the responses in detail, but I just wanted to throw in my two cents. Hi, and thank you. 1. Contribute just 2% to your 401k - enough to get the company match. You don't need the tax break very much as you're in only the 15% bracket. Plus your fund choices are pretty t...
by Meg77
Thu Aug 13, 2015 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead - Looking For a Little Help
Replies: 56
Views: 3341

Re: New Boglehead - Looking For a Little Help

Hi! I have only read about half the responses in detail, but I just wanted to throw in my two cents. 1. Contribute just 2% to your 401k - enough to get the company match. You don't need the tax break very much as you're in only the 15% bracket. Plus your fund choices are pretty terrible - and you ma...
by Meg77
Thu Aug 13, 2015 3:08 pm
Forum: Personal Consumer Issues
Topic: "If your bank knew you did this they'd freak!"
Replies: 22
Views: 5673

Re: "If your bank knew you did this they'd freak!"

OK I couldn't resist. I clicked. I've wondered about that darn ad too, especially since I work at a bank. There's a box at the top of the article with the Amerivalue "tool" under a picture of the Capitol building which says: "When homeowners visit The Amerivalue Site™ official website...
by Meg77
Wed Aug 12, 2015 2:48 pm
Forum: Personal Consumer Issues
Topic: What's Your Monthly Food/Groceries Spending? My is through the roof?
Replies: 201
Views: 13545

Re: What's Your Monthly Food/Groceries Spending? My is through the roof?

Ugh, I hate to admit this...but my husband and I spend around $2000 a month. We eat out regularly, we drink too much, and we travel a lot which encourages both vices. Our tastes and standards have certainly risen though over the years too - organic meats, cheese and produce when possible; higher end...
by Meg77
Wed Aug 12, 2015 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: How much is too much?
Replies: 42
Views: 5323

Re: How much is too much?

Thank you everyone for your suggestions. The reason why we are in this place in the first place is because both the wife and I had to make ends meet at 36k a year since she was still going through school. We actually lived quite comfortably, we actually were able to take a few short vacations a yea...
by Meg77
Wed Aug 12, 2015 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: How are we doing? Advice?
Replies: 21
Views: 1808

Re: How are we doing? Advice?

By the way I think you meant your total assets are around $750K, not your net worth. Based on your stated figures you have $762K in assets and $285K in debt for a net worth of $477K. All in all that is not a bad figure, especially if you didn't inherit any money and havne't been making $250K for ver...
by Meg77
Wed Aug 12, 2015 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: How are we doing? Advice?
Replies: 21
Views: 1808

Re: How are we doing? Advice?

Should I pay off the car with our EF, to eliminate the monthly payment? Should I focus on paying off the mortgage next? How much should I plan having when I retire? 1.5 million? 2 million? Can I get to that amount? No, do not pay off the car loan with your EF. With kids that age a fully funded EF i...
by Meg77
Wed Aug 12, 2015 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 82
Views: 7868

Re: Excess Cash - Play Monopoly or Repay Debt?

The home mortgage you have is not bad. You may have checked on other mortgages and are probably fine with the one you have. Anyway I looked at PenFed and this is what I found: 15 yr fixed: Rate Points APR 3.000% 0.000 3.228% 2.875% 0.500 3.175% 2.750% 1.250 3.159% For home purchase or refinancing L...
by Meg77
Tue Aug 11, 2015 3:33 pm
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 82
Views: 7868

Re: Excess Cash - Play Monopoly or Repay Debt?

Thanks for the update! This is a fun thread. I'd hit this loan next: $95K 30 yr fixed at 5.0% 5% risk-free ROI is very respectable and, being one of the lowest balance loans, will further improve cash-flow soon (not that you need it with $6-7k/mo excess). You should be able to knock it out in 1.5 y...
by Meg77
Tue Aug 11, 2015 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Apply for mortgage to several lenders?
Replies: 9
Views: 568

Re: Apply for mortgage to several lenders?

Congrats on your first home purchase! As a mortgage lender myself I often tell clients to do exactly what you did. Survey a handful of lenders to get their rates/fees (preferably within the same day or at least the same week since rates change daily) without formally applying and letting them pull y...
by Meg77
Tue Aug 11, 2015 12:55 pm
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 82
Views: 7868

Re: Excess Cash - Play Monopoly or Repay Debt?

UPDATE - After taking everyone's (much appreciated) advice, we have made some real progress toward repaying consumer debt in the last five months. I've added our updates in red in the original post. I mainly wanted to give everyone an update who took the time to reply, but we are also revisiting the...
by Meg77
Sun Aug 02, 2015 9:11 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with a lump sum of money?
Replies: 9
Views: 988

Re: What to do with a lump sum of money?

I agree given your age and situation that paying off the mortgage may be ideal. That will free up a lot of cash flow to help with kids' college tuition from regular income if necessary (hopefully they qualify for grants and cheap loans though). Because this bull market is already 2 years past the av...
by Meg77
Sun Aug 02, 2015 1:06 pm
Forum: Investing - Theory, News & General
Topic: Your opinion on the future of the financial services industry.
Replies: 10
Views: 771

Re: Your opinion on the future of the financial services industry.

My husband made me listen to what ended up being a very interesting podcast on this topic yesterday, based on Goldman Sachs research. I believe it was part one of a three part series. I googled it and this came up. I'm settling in to read it now. http://www.parksquare.com/uploads/insights/TheFutureo...
by Meg77
Sun Aug 02, 2015 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing Help Requested! Cash to Invest + New 401k
Replies: 10
Views: 706

Re: Rebalancing Help Requested! Cash to Invest + New 401k

I like your new plan! It simplifies things a LOT. You guys have so many accounts (totally valid though!) that keeping things simple is a huge blessing. I know it helps me a lot. Taxable - Restricted employer stock - no new contributions 12% $82K mid cap US financial (60% will vest in 2017, 40% in 2...
by Meg77
Fri Jul 31, 2015 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Rebalancing Help Requested! Cash to Invest + New 401k
Replies: 10
Views: 706

Re: Rebalancing Help Requested! Cash to Invest + New 401k

After thinking about the first few responses and talking it over with my husband, we are considering the following: 1. Liquidate Fidelity brokerage and use the funds, in addition to his signing bonus, to pay off his student loan (instead of rolling to Vanguard). Since we are putting $85K of cash int...
by Meg77
Fri Jul 31, 2015 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Frustrated with low raise
Replies: 71
Views: 5321

Re: Frustrated with low raise

It sounds like your expectations may be out of line. What industry are you in? In banking/finance, a 3% annual bump is considered great. Most raises are 1-2% among my peer group. I don't know any industry where people get more than 3% every year just for doing the same job (even if they are doing a ...
by Meg77
Thu Jul 30, 2015 1:20 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing Help Requested! Cash to Invest + New 401k
Replies: 10
Views: 706

Re: Rebalancing Help Requested! Cash to Invest + New 401k

Why are you holding two equity income funds in your 401k? Personally, at your age, I'd choose the Growth Fund of America over the income funds. Those income funds are really more like quasi-balanced funds, they hold equity, fixed income and cash - makes it complicated in terms of keeping allocation...
by Meg77
Thu Jul 30, 2015 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Rebalancing Help Requested! Cash to Invest + New 401k
Replies: 10
Views: 706

Re: Rebalancing Help Requested! Cash to Invest + New 401k

Hi Meg77- There's a lot her to consider! I'll throw out a few observations: -Your desired AA is light on bonds (15%), but you acknowledge you're aggressive so you're aware of the downside possibility. -All the small stock positions in your taxable and His ROTH seem complicated--ditto your ROTH fund...
by Meg77
Thu Jul 30, 2015 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Newlywed and new career--advice for starting out?
Replies: 7
Views: 806

Re: Newlywed and new career--advice for starting out?

Thanks for all of your replies and advice! I really appreciate it. LAlearning and srj, why do you recommend avoiding international investments right now? And at what point (asset level? time?) would it make sense to add them in? celia, thanks for your thoughts! We are very blessed to come from fami...
by Meg77
Thu Jul 30, 2015 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Rental House - Passive Loss
Replies: 6
Views: 521

Re: Rental House - Passive Loss

1. The IRS definition of "Active Participation" is: "You actively participated in a rental real estate activity if you (and your spouse) owned at least 10% of the rental property and you made management decisions or arranged for others to provide services (such as repairs) in a signif...
by Meg77
Wed Jul 29, 2015 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing Help Requested! Cash to Invest + New 401k
Replies: 10
Views: 706

Rebalancing Help Requested! Cash to Invest + New 401k

Hi Bogleheads! It's finally that time. My husband and I are ready to streamline our investments, consolidate our accounts, and fine tune our asset allocation. We've been rebalancing in a haphazard way by directing new contributions into different funds, but the number of accounts we have combined wi...
by Meg77
Wed Jul 29, 2015 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing mortgage to a 5/1 or 7/1 ARM
Replies: 9
Views: 461

Re: Refinancing mortgage to a 5/1 or 7/1 ARM

You have a great rate on a good mortgage, particularly given that you plan to be in the house long term. There is no reason to take interest rate risk if you are planning to stay in the house long term. A back of the envelope calculation shows that the payments will be $140 to $160 less per month, ...
by Meg77
Wed Jul 29, 2015 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing mortgage to a 5/1 or 7/1 ARM
Replies: 9
Views: 461

Re: Refinancing mortgage to a 5/1 or 7/1 ARM

Normally you want to try to match the fixed rate term of the loan to the amount of time you plan to be in the house. If you refinance to a 5/1 ARM, then you will enjoy the 2.875% (or whatever rate you actually get) for 5 years, but then in that 6th year the rate will rise based on whatever the curre...
by Meg77
Wed Jul 29, 2015 1:27 pm
Forum: Personal Consumer Issues
Topic: Would you look down on a co-worker for driving a beater?
Replies: 196
Views: 13430

Re: Would you look down on a co-worker for driving a beater?

Yes, it can and probably will impact your colleagues' perceptions of you if they see you pull up in a "beater" that is the "worst car in the lot." Some may assume that you don't have your finances in order, even if you drive your car for the exact opposite reason (you must not b...
by Meg77
Wed Jul 29, 2015 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Who are you able to share good financial news with?
Replies: 103
Views: 8445

Re: Who are you able to share good financial news with?

Congrats on your raise! This is one of the things internet forums are good for. People get to discuss all kinds of things that may be embarrassing or uncomfortable on taboo, from money issues to health concerns. I can still boast to my parents about a nice bonus or raise, but other than that it's ma...
by Meg77
Mon Jul 27, 2015 11:44 am
Forum: Personal Consumer Issues
Topic: Would you look down on a co-worker for driving a beater?
Replies: 196
Views: 13430

Re: Would you look down on a co-worker for driving a beater?

Yes, it can and probably will impact your colleagues' perceptions of you if they see you pull up in a "beater" that is the "worst car in the lot." Some may assume that you don't have your finances in order, even if you drive your car for the exact opposite reason (you must not be...
by Meg77
Tue Jul 21, 2015 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: One child: get a mortgage or rent the house?
Replies: 17
Views: 1095

Re: One child: get a mortgage or rent the house?

I borrowed money from my mother to finance several properties. I haven't read all these responses, but I don't think YOU should buy a house at all. You should let your son and his wife buy the house and simply use you as their lender. This is much simpler for everyone and will avoid you having to de...
by Meg77
Tue Jul 21, 2015 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: Finally getting finances & investments in order... need help!
Replies: 24
Views: 1304

Re: Finally getting finances & investments in order... need help!

Does it matter if my Roth 401k is > $5500? No. A rollover has nothing to do with the $5,500 limit. You can roll as much as you like. Remember that you could find many good investments cheaper than inside your 401k. So be sure you really want to do the Roth IRA thing before you send that money to 40...
by Meg77
Tue Jul 21, 2015 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: Finally getting finances & investments in order... need help!
Replies: 24
Views: 1304

Re: Finally getting finances & investments in order... need help!

I haven't read all the posts but here are my initial thoughts: 1. Max out both 401ks. You need the tax break anyway. 2. Do backdoor Roth IRA contributions for each of you. Early retirement is a big goal that's only 18 years away so you need to save all you can for that. 3. Max out an HSA (Health Sav...
by Meg77
Tue Jul 21, 2015 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: Redoing All Finances - Advice Would Be Awesome!
Replies: 24
Views: 2181

Re: Redoing All Finances - Advice Would Be Awesome!

Step one is to take a step back. You need to assess your values and create long term and short term goals WITH YOUR SPOUSE. Your wife doesn't trust you to manage her affairs, and honestly I don't blame her at this point. You both need to be empowered to control your financial futures. Apologize for...
by Meg77
Tue Jul 21, 2015 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: How do people afford children with a SAHS?
Replies: 183
Views: 10847

Re: How do people afford children with a SAHS?

I don't know why everyone is picking on you for the house. In my view it's a reasonable size relative to your income, particularly given that a) your family income should increase over time given your educations and specialties and the booming job market in your area, and b) the house is providing ...
by Meg77
Tue Jul 21, 2015 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Hard Money Loans
Replies: 26
Views: 2993

Re: Hard Money Loans

It pays 14% interest per month plus 2 points up front. 14%/month, this screams scam. Legitimate hard money notes do not charge interest per month. In this interest rate environment, even hard money loans are not usurious. 14% per month is obviously a typo. 14% per annum paid monthly is probably wha...
by Meg77
Tue Jul 21, 2015 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Redoing All Finances - Advice Would Be Awesome!
Replies: 24
Views: 2181

Re: Redoing All Finances - Advice Would Be Awesome!

I am about to start the process of switching my investments over to Vanguard. I wish I had been educated earlier on the harm that adviser fees can do to a portfolio, but I am now determined to put that in the past. My wife however, is not so excited about the prospect. She thinks that we should kee...
by Meg77
Tue Jul 21, 2015 10:54 am
Forum: Personal Finance (Not Investing)
Topic: How do people afford children with a SAHS?
Replies: 183
Views: 10847

Re: How do people afford children with a SAHS?

I don't know why everyone is picking on you for the house. In my view it's a reasonable size relative to your income, particularly given that a) your family income should increase over time given your educations and specialties and the booming job market in your area, and b) the house is providing y...
by Meg77
Thu Jul 16, 2015 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should we go without Health Insurance for 5 Days?
Replies: 32
Views: 1512

Re: Should we go without Health Insurance for 5 Days?

Ugh so annoying. COBRA is unnecessary though - I would look into alternate much cheaper coverage, assuming it exists. If anybody has any ideas on providers let me know! Why not do the 45 day loophole that I linked to above? Somehow I missed your post but thank you so much for pointing it out!!! Loo...
by Meg77
Thu Jul 16, 2015 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Should we go without Health Insurance for 5 Days?
Replies: 32
Views: 1512

Re: Should we go without Health Insurance for 5 Days?

Hi Meg, How certain are you the health insurance from his new job will start on his first day? Probably it does, but at some employers not. It's worth checking, and it may change the COBRA calculus. How certain are you the new employer won't reschedule his first day? An old employer of mine did tha...

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