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Re: Best place (with warm weather) to raise children

Chattanooga TN hits all your criteria.
by Meg77
Mon Oct 20, 2014 5:22 pm
 
Forum: Personal Consumer Issues
Topic: Best place (with warm weather) to raise children
Replies: 63
Views: 3560

Re: Advice needed for next 10 years: Save, spend borrow?

One other option: 6) Stop saving so much. Perhaps not fund my ROTH IRAs or 401K over the next few years. The first part of this is your answer, unless there is a lot of fat in your spending budget. You need to stop saving, but why cut retirement? It seems obvious to me that you need to stop funding...
by Meg77
Mon Oct 20, 2014 5:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice needed for next 10 years: Save, spend borrow?
Replies: 15
Views: 1977

Re: Sell bonds to buy real estate?

I don't know much about real estate development, but that isn't your question anyway! If you have to sell investments now (to raise cash for ANY purpose), then I would personally recommend selling bonds rather than stocks, even if that results in a temporary change to your target AA. Not only have s...
by Meg77
Mon Oct 20, 2014 4:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Sell bonds to buy real estate?
Replies: 7
Views: 633

Re: Concern/Question About Financial Planner Compensation/Sa

I wouldn't worry about this based on his possessions and assets alone. If his attitude and comments make you uncomfortable that may be another matter, but he could be mortgaged up to the hilt and have credit card debt to boot. Or he could have followed his own advice and invested steadily over the l...
by Meg77
Thu Oct 09, 2014 3:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Concern/Question About Financial Planner Compensation/Salar
Replies: 8
Views: 862

Re: Dollar cost averaging

Studies have shown that statistically, if you have a large amount to invest, a lump sum investment option is "better" than dollar cost averaging slowly into the market. By 'better' I mean that you will be more likely to end up with more money by investing the lump sum, particularly if the ...
by Meg77
Thu Oct 09, 2014 3:30 pm
 
Forum: Investing - Theory, News & General
Topic: Dollar cost averaging
Replies: 21
Views: 1269

Re: Wife Expecting, Down to One Income Source

Meg, When you have a child you will be influenced by conflicting pressures that you may not be able to appreciate yet. Your post-childbirth hormones will be screaming to you to spend all your time with the baby. This happens even to non-maternal women, to their surprise. If you are sleep deprived, ...
by Meg77
Thu Oct 09, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife Expecting, Down to One Income Source
Replies: 116
Views: 8008

Re: Wife Expecting, Down to One Income Source

This is a really interesting and valuable conversation for me, so I'd like to thank everybody for expanding on their views and for keeping the tone fairly neutral. As a 30 year old female newlywed professional, this topic weighs on me and I think about it frequently. Assuming we have children, I hav...
by Meg77
Thu Oct 09, 2014 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife Expecting, Down to One Income Source
Replies: 116
Views: 8008

Re: Real life windfall experiences?

"rather than a drug habit I was using the money to fund a Roth IRA" Your parents and grandparents should be proud, nice job!! :beer Ha, thank you both! I only say that to point out that with a little bit of bad luck or influence, my Safety Net could have fueled bad habits instead of good ...
by Meg77
Thu Oct 09, 2014 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Real life windfall experiences?
Replies: 23
Views: 4272

Re: Pizzasteve and others: my real estate question

I'll also just state the question underlying this real estate pondering: I'm trying to evaluate our investment options once we sell the house and have a larger pot of money to manage than we have ever had before. So far I see it as: 1) invest in stocks/bonds/??? mix 2) buy a rental property 3) comb...
by Meg77
Mon Oct 06, 2014 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to look at real estate ROI
Replies: 21
Views: 2186

Re: Mega backdoor Roth vs. taxable account

I think the Roth is the way to go, assuming you don't need the extra funds for any purchases over the short term. You can always take your contributions back out of the roth before retirement, as you point out. But if you have access to that strategy I'd say jump on it!
:beer
by Meg77
Mon Oct 06, 2014 3:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mega backdoor Roth vs. taxable account
Replies: 1
Views: 354

Re: Real life windfall experiences?

I had a windfall early in life. My grandparents funded a trust for college education from the time I was young. Due to their investment choices and the bull market I ended up with mid $200K leftover even after graduating from a private college debt free. That amount fits your description of not enou...
by Meg77
Mon Oct 06, 2014 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real life windfall experiences?
Replies: 23
Views: 4272

Re: Am I on Track?

I am about your age as well, and I share your frustration about the impossibility of knowing whether you are "on track" for retirement. The truth of the matter is that unless you are 10 years or fewer away from retirement, "making a plan" is pretty much pointless. All those comme...
by Meg77
Mon Oct 06, 2014 2:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I on Track?
Replies: 16
Views: 1563

Re: Drop My $1m Life Insurance?

I just did some math using the Social Security actuarial tables. A sixty year old woman has a 90.3% probability of living to age 70. Assuming you are in reasonable health, paying $8,400 for that policy is a huge bargain. Actuarially, you should be paying a lot more than that. It seems like somebody...
by Meg77
Sun Oct 05, 2014 9:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drop My $1m Life Insurance?
Replies: 13
Views: 1737

Re: Advisable to buy a home for short term?

My husband and I just married in June and are in a similar situation. We don't plan to start a family for at least a year (and we recognize that we could face delays even then due to infertility or other factors), so we hesitated to buy a family home in a suburban area with good schools. School dist...
by Meg77
Sun Oct 05, 2014 9:13 pm
 
Forum: Personal Consumer Issues
Topic: Advisable to buy a home for short term?
Replies: 10
Views: 934

Re: Just need to vent

That is frustrating, particularly with regard to the annuities. I just wanted to point out that my dad worked for Edward Jones briefly and my mom still invests with them (they are divorced), and this investment scheme seems way out of the ordinary for them. They promote investing in individual stock...
by Meg77
Sun Oct 05, 2014 8:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Just need to vent
Replies: 16
Views: 3473

Re: Paying off a 6.5% mortgage

Pay it off! I usually tell people to invest instead when these questions come up, but because you are paying such a high rate and can't even deduct the interest, this one is a no brainer. As a banker I agree it's not worth the fees and re-amortization to refinance when a big lump sum is due if you c...
by Meg77
Sat Oct 04, 2014 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 3513

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

I had an epiphany this morning. It only took 6 analogies of not flushing toilets in your mansion to save money, and ordering diet drinks with your extra size big mac meal. :D Plus some nice folks playing both psychology counselor and financial counselor. I pinch pennies because it makes me feel lik...
by Meg77
Thu Oct 02, 2014 1:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my husband a spendthrift? Or I a tightwad?
Replies: 198
Views: 15718

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

Thank you for the replies. I've read them all, most three or four times, and I'll be printing out the thread to keep with me. I also now have a few books to add to my reading list. There's no point being negative-- that certainly won't do anything to make my life better. I sat down last night and c...
by Meg77
Tue Sep 30, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: How can I stop feeling depressed about my finances?
Replies: 130
Views: 13887

Re: What is your best estimate of the SWR (Safe Withdrawal R

In the Trinity study the worst 30-year historical sequences examined survived at an initial 4% adjusted each later year for CPI. In nearly all cases the assets could have survived a higher level. The difficulty is we can't know in advance what the sequence will be, and that includes knowing the his...
by Meg77
Fri Sep 26, 2014 5:10 pm
 
Forum: Investing - Theory, News & General
Topic: What is your best estimate of the SWR (Safe Withdrawal Rate)
Replies: 77
Views: 3994

Re: Lump Sum Package With Details

You'd only have to earn 2.6% per year on the lump sum to get the same $533 per month. How are you calculating to get that %? I have no idea! Just tried to recalculate it and now keep getting 5.3% ($533x12)/$121,400 Thanks for catching that it does indeed change things. I'll edit my earlier post. :o...
by Meg77
Fri Sep 26, 2014 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Package With Details
Replies: 29
Views: 1990

Re: New 2% cash back Mastercard from Citi

Thanks for the heads up on this great offer! I have a citi dividend card I never use anymore because I also have the CapOne quicksilver and the Amex Preferred Everyday card, but I keep it because it's my oldest. I just called and converted it this morning! For the record the rep said my account numb...
by Meg77
Fri Sep 26, 2014 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 232
Views: 26936

Re: Lump Sum Package With Details

Yes, there is a third option. I can do nothing, stay with the existing plan and either receive $533/month starting next year OR receive $1,515.00/month at age 65. The pension is PBGC guaranteed. BFG ps - maybe furwut, you are older than me, so you don't have as long to wait for 65 to arrive? In thi...
by Meg77
Fri Sep 26, 2014 4:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Package With Details
Replies: 29
Views: 1990

Re: Home affordability

Based on the information you provided, I would buy the $420K home now. It sounds like you can afford, particularly because you have no other debt. If you are planning to move at some point anyway and you have the 20% down payment along with a fully funded EF and a 20% DTI, you have to ask yourself w...
by Meg77
Fri Sep 26, 2014 4:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 2761

Re: Lump Sum Package With Details

I would take the lump sum. Annuities are offering low payouts right now because they are linked to interest rates, which are still near historical lows. Plus as you say, inflation would erode the value of that monthly benefit in a big way. You'd only have to earn 2.6% per year on the lump sum to get...
by Meg77
Fri Sep 26, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Package With Details
Replies: 29
Views: 1990

Re: Would you pay for these upgrades in a new construction h

If it would cost you about the same to upgrade them yourself, why wouldn't you just pay the $2500 and let them do the labor? That might be the last charge on the contractor's budget I'd second guess. Fixtures can add a LOT to the appearance and feel of your home and are one of the simplest, cheapest...
by Meg77
Fri Sep 26, 2014 4:10 pm
 
Forum: Personal Consumer Issues
Topic: Would you pay for these upgrades in a new construction house
Replies: 17
Views: 1344

Re: Rental Property - Still a Good Investment?

I have a different perspective. In fact, I'm in a very similar situation. I own a $160K condo with a $104K mortgage that was my "first home," and I converted it to a rental property earlier this year when I got married and moved. It won't cash flow; if all goes according to plan I'll lose ...
by Meg77
Fri Sep 26, 2014 3:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Still a Good Investment?
Replies: 31
Views: 3619

Re: Trying to understand Uber and similar "ride sharing" ser

My understanding is that their argument is basically "we aren't a taxi service; we are a technology company that helps you locate people who will give you rides with our app." I'm with you; it doesn't really add up. Arguably taxis and all transportation providers should be held to the same...
by Meg77
Thu Sep 25, 2014 4:55 pm
 
Forum: Personal Consumer Issues
Topic: Trying to understand Uber and similar "ride sharing" service
Replies: 54
Views: 3701

Re: Employer finding out you have a financial cushion?

Most managers do not have access to your 401k balance unless you work at a very small company; sure HR does and various other employees in 401k administration perhaps, but they are probably not sitting around looking up balance for fun. I highly doubt any boss who even had that info though would use...
by Meg77
Thu Sep 25, 2014 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 72
Views: 8318

Re: POLL: Would you rather work half as long or half as ofte

If you could actually work half time your entire life - especially 6 months on and 6 months off - that would be hugely advantageous. I'm not sure why you'd ever want or need to retire if that was the setup. Many folks approaching retirement age want to either keep working or work part time anyway; m...
by Meg77
Thu Sep 25, 2014 12:18 pm
 
Forum: Personal Consumer Issues
Topic: POLL: Would you rather work half as long or half as often?
Replies: 68
Views: 4114

Re: Why don't you do Financial Planning?

Lots of financial planners (and other financial professionals) do visit this site and enjoy posting in their "down time." Even if you are a full time financial planner who is passionate about personal finance, not very much of each work week is spent actually giving advice. You're doing sa...
by Meg77
Thu Sep 25, 2014 12:03 pm
 
Forum: Personal Consumer Issues
Topic: Why don't you do Financial Planning?
Replies: 41
Views: 3327

Re: How to achieve a balance between "saving" and "living"?!

If maxing out your 401k is a 25% savings rate AND you're getting a match AND you're maxing a Roth IRA at only 24 years of age, then I think it's safe to say you are saving enough and can relax the reigns a bit and enjoy life some more. It's all about priorities. Retirement vs cash reserves vs travel...
by Meg77
Wed Sep 24, 2014 4:55 pm
 
Forum: Personal Consumer Issues
Topic: How to achieve a balance between "saving" and "living"?!
Replies: 64
Views: 6662

Re: What Is the Best Way to Shop Mortgage Rates

As a banker who specializes in real estate lending, I can tell you the website comparisons aren't very helpful - especially for comparing atypical loan products like a 7/1 interest only ARM. Lenders adjust their stated rates based on multiple factors including city/state, credit score, LTV, whether ...
by Meg77
Wed Sep 24, 2014 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Is the Best Way to Shop Mortgage Rates
Replies: 7
Views: 729

Re: Stubbornly Non-Boglehead Husband. What To Do?

I haven't read all the responses, but it appears that your husband's aggressive risk tolerance and speculative tendencies have served him well in his career, if not in his personal investments. So in other words, you're justifiably annoyed about how he's managing the money, but you wouldn't have mos...
by Meg77
Wed Sep 24, 2014 4:24 pm
 
Forum: Investing - Theory, News & General
Topic: Stubbornly Non-Boglehead Husband. What To Do?
Replies: 122
Views: 7800

Re: We have a grocery problem... [Household budget]

I just want to comment because I seem to be in the minority, along with you, when it comes to overspending in this budget category. In the interest of making you feel better, my husband and I (no kids) spend more than you do. In the last 5 months (the amount of time we've been married), we have aver...
by Meg77
Wed Sep 24, 2014 4:16 pm
 
Forum: Personal Consumer Issues
Topic: We have a grocery problem... [Household budget]
Replies: 158
Views: 10843

Re: Can anyone help w/ Debt & Credit Score?

If you applied for a mortgage and they declined you then they should give you a copy of your complete credit report, which should have company names and maybe even addresses and phone numbers for the collections agencies /lenders that currently list you as in default. If the phone number isn't there...
by Meg77
Tue Sep 23, 2014 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can anyone help w/ Debt & Credit Score?
Replies: 19
Views: 1074

Re: Need help protecting assets (marriage)

I just got married in Texas and thought and read a lot about this since I was coming in with a lot more in assets than he was. It sounds like what you want is exactly what Texas community property laws dictate anyway: anything you had before marriage stays yours, and anything you accumulate after ma...
by Meg77
Mon Sep 22, 2014 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help protecting assets (marriage)
Replies: 46
Views: 4591

Re: Help with a property sale decision

I am a banker in Texas, and I've also done some seller-financed property loans like the one you are talking about so I have a little bit of experience with these types of arrangements. They are not uncommon and can actually be a really great deal for the buyer and seller alike. Usually the buyer of ...
by Meg77
Mon Sep 22, 2014 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with a property sale decision
Replies: 7
Views: 702

Re: How to improve my credit score?

Do not do option a) from deikel. There is no reason to pay interest to increase your credit score. It is already good/great. You can pay me money for this advice if you want, it'll do just as much good. Sorry , but of you try to take out a mortgage on a house than the bank is not just looking at yo...
by Meg77
Mon Sep 22, 2014 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to improve my credit score?
Replies: 10
Views: 574

Re: How to improve my credit score?

Hi Bogleheads, I have been reading this forum for a couple of years. but this is the first time I have posted a question. I have only been living the US for a few years so I do not have much of a credit history. I am therefore trying to take steps to establish and maintain a good one, in case I wis...
by Meg77
Mon Sep 22, 2014 4:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to improve my credit score?
Replies: 10
Views: 574

Re: Student Loan vs 401k dilemma

I would pay off the loan tomorrow with funds from your emergency fund. (12 months seems excessive when you have debt and 2 stable jobs). I would max out both 401(k)s. I would max out both Roths. I would throw any extra back into the efund until it's back up to 12 months, if that's where you're comf...
by Meg77
Mon Sep 22, 2014 4:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Student Loan vs 401k dilemma
Replies: 21
Views: 1483

Re: Real Estate Question

This seems like more of a psychological decision than a financial one. If you're ready to be free of the hassles of hard assets and want to sell your properties and dump the proceeds in an index fund so you can travel, then that sounds like a good plan. If you want to raise rents a bit and re-lease ...
by Meg77
Wed Sep 17, 2014 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Question
Replies: 21
Views: 1689

Re: Rental property with in-laws: please help!

OK having read all the posts, the facts appear to be as follows: At the encouragement of her real estate investor parents, your wife purchased a rental property in 2006 with 100% financing: an 80% first mortgage and a 20% HELOC. The first mortgage is an interest only 10 year ARM and the second mortg...
by Meg77
Wed Sep 17, 2014 3:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7955

Re: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14

So, one isn't misleading a lender unless one gets caught? PJW I still don't think we were misleading the lender. My husband called and explained our situation honestly after getting the request for the sales contract. He told them we'd gotten an additional loan which would show up on the sales and ...
by Meg77
Fri Sep 12, 2014 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14
Replies: 49
Views: 6084

Re: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14

Please read the update to my original post. You may be asked to provide verification that the loan was used for your stated purpose several weeks after you get the funds! I sort of think this is backhanded in a way, since many people like us might have fully intended to use the loan as stated on the...
by Meg77
Wed Sep 10, 2014 4:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14
Replies: 49
Views: 6084

Re: If you had an extra $100,000

Hmm, it would be tempting to pay off debt, but our debt is at such low rates that I'm not sure it would be the best use of our cash. Still, we'd probably use $100K to do some combination of the following: 1. Pay off the remaining $67K on my husband's 2.75% (floating rate) student loan balance. 2. Pa...
by Meg77
Mon Sep 08, 2014 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you had an extra $100,000
Replies: 68
Views: 7412

Re: When to jump ship?

I wish I had some advice to offer, but I'm more interested in other responses. I have a similar recurring dream, except in mine I keep looking for the option to rest on a moderately comfortable island for awhile in the middle of the journey. My expectation would be that I could then find another shi...
by Meg77
Mon Sep 08, 2014 2:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: When to jump ship?
Replies: 42
Views: 4923

Re: Why does the stock market "always go up"? Will this pers

I think about this sometimes, particularly within the context of certain business segments or even individual businesses. For instance, take the car industry. How can it always keep growing? What if people collectively wise up and stop buying a new car every 2-4 years? Or just decide that spending s...
by Meg77
Mon Sep 08, 2014 2:32 pm
 
Forum: Investing - Theory, News & General
Topic: Why does the stock market "always go up"? Will this persist?
Replies: 42
Views: 3870

Re: Six-Figure Incomes—and Facing Financial Ruin [WSJ articl

As a banker who deals with high net worth clients, I'm not really surprised by any of this. It's absolutely true that most people live paycheck to paycheck - even those folks with really big paychecks. The thing is that many of these people are highly intelligent and apparently fully-functioning mem...
by Meg77
Sat Sep 06, 2014 5:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Six-Figure Incomes—and Facing Financial Ruin [WSJ article]
Replies: 59
Views: 9475

Re: Suggestions for 10 days on Hawaiian Islands

I just had a honeymoon in Hawaii. We spent 4 days on Lanai, 4 days on Maui and 4 days on the north shore of Kauai. Lanai was awesome for relaxation and light activity (good hiking, swimming) but may be boring for your teens after 36 hours. Maui might be good as far as a mix of sights and restaurants...
by Meg77
Sat Sep 06, 2014 5:20 pm
 
Forum: Personal Consumer Issues
Topic: Suggestions for 10 days on Hawaiian Islands
Replies: 24
Views: 1450

Re: 1.99% Unsecured "AnythingLoan"

So why not borrow from a 401(k) to do the same thing? Any interest paid on the 401(k) loan goes into your own pocket. There is usually a setup fee and small quarterly fee that goes to servicing the loan, but it is cheaper that what you did for something that is a sure thing. There are no loan origi...
by Meg77
Fri Sep 05, 2014 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14
Replies: 49
Views: 6084
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