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Re: Is "sheltering" my GF financially hurting our future?

She needs to establish credit ASAP. My sister ran into this problem when she and her husband went to buy a house. She had never had any credit or debt (never needed it and was really young), and so her lack of a credit score affected their ability to put her on the mortgage. Luckily her new husband ...
by Meg77
Sun Apr 13, 2014 7:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is "sheltering" my GF financially hurting our future?
Replies: 22
Views: 3911

Re: Just maxing out 401k/Roth IRA, how well off will you be

If you contributed $23,000 per year to retirement accounts for 40 years, you'd have just over $3.5MM at the end assuming annual returns of 6%. With annual returns of 7% that number jumps to $4.5MM. So rate of return (and rate of inflation) would make a huge difference over that long of a stretch. I ...
by Meg77
Thu Apr 10, 2014 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Just maxing out 401k/Roth IRA, how well off will you be ?
Replies: 6
Views: 1099

Re: Any Bogleheads here into real estate investing?(renting

There are a lot of different ways to invest in real estate, but buying and holding for the long term is a relatively safer, more Boglehead-y way to go about it (compared to trying to flip properties for example). Much like individual stocks, if you hold long enough and have a bit of luck it's "...
by Meg77
Thu Apr 10, 2014 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: Any Bogleheads here into real estate investing?(renting out)
Replies: 53
Views: 3833

Re: Any Bogleheads here into real estate investing?(renting

There are a lot of different ways to invest in real estate, but buying and holding for the long term is a relatively safer, more Boglehead-y way to go about it (compared to trying to flip properties for example). Much like individual stocks, if you hold long enough and have a bit of luck it's "...
by Meg77
Thu Apr 03, 2014 5:36 pm
 
Forum: Investing - Theory, News & General
Topic: Any Bogleheads here into real estate investing?(renting out)
Replies: 53
Views: 3833

Re: Can I Backdoor Roth BEFORE rolling TIRA to 401k?

SO all the discussion about whether 12/31/13 IRA balances matter is what is at issue I think. Since it's a 2013 IRA contribution we want to make - which has already been reported on his 2013 tax return, which has already been filed. It sounds like maybe we have missed the boat for doing a tax-free ...
by Meg77
Mon Mar 31, 2014 11:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Can I Backdoor Roth BEFORE rolling TIRA to 401k?
Replies: 24
Views: 1175

Re: Can I Backdoor Roth BEFORE rolling TIRA to 401k?

OK I think I am following this. To clarify, we want to make non-deductible TIRA contributions for BOTH 2013 and 2014. But due to cash flow issues we are only focused on the 2013 contribution right now since the deadline is looming. After the contribution is made, we would like to convert it to a Ro...
by Meg77
Mon Mar 31, 2014 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: Can I Backdoor Roth BEFORE rolling TIRA to 401k?
Replies: 24
Views: 1175

Re: Is The US Stock Market Rigged? ~ 60 Minutes March 30, 20

Not sure why everyone is using the past tense here. The front-running has been uncovered but has certainly not been stopped. As the guy being interviewed admitted, this is all legal currently. My impression from the show is that the only people NOT being skimmed currently are the participants in thi...
by Meg77
Mon Mar 31, 2014 10:35 am
 
Forum: Investing - Theory, News & General
Topic: 60 Minutes 3-30-14: Michael Lewis book "Flash Boys"
Replies: 70
Views: 2538

Re: Can I Backdoor Roth BEFORE rolling TIRA to 401k?

OK I think I am following this. To clarify, we want to make non-deductible TIRA contributions for BOTH 2013 and 2014. But due to cash flow issues we are only focused on the 2013 contribution right now since the deadline is looming. After the contribution is made, we would like to convert it to a Rot...
by Meg77
Fri Mar 28, 2014 11:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can I Backdoor Roth BEFORE rolling TIRA to 401k?
Replies: 24
Views: 1175

Re: Joint but still "separate accounts"

I'm getting married next month and I can't wait to close all our superfluous accounts. Here is what we have now: Joint Joint checking (for household bills - we each contribute a fixed amount monthly) American express credit card (for joint expenses like furniture, travel, groceries, etc; paid from j...
by Meg77
Wed Mar 26, 2014 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Joint but still "separate accounts"
Replies: 13
Views: 1180

Re: 35 year old need help with financial life

Ok you are doing great, and I do think it would be wise to look into some self-employed retirement plan options (SEP IRA, solo 401k, etc). I know very little about those - sorry! - but I do know that anybody with earned income can contribute to a Roth IRA (if you make too much to contribute to a Rot...
by Meg77
Wed Mar 26, 2014 3:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: 35 year old need help with financial life
Replies: 23
Views: 2240

Re: "Spinning Off" my 20 Year Old Son

I think making your son more independent is a great goal, and an appropriate one given his life stage. I don't think doing so will lower your own liability in any way. When I went off to college I had a college fund that had been set up that was enough to fund my education and personal expenses - an...
by Meg77
Wed Mar 26, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Can I Backdoor Roth BEFORE rolling TIRA to 401k?

If the employer has definitely agreed that rolling the existing IRA to the 401k is allowed by the plan, then you can perform steps as you suggested. No tax due on the rollover to a 401k plan and no tax on a nondeductible IRA converted to a Roth. The Wiki explains the Backdoor Roth Mechanics. The Wi...
by Meg77
Wed Mar 26, 2014 3:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can I Backdoor Roth BEFORE rolling TIRA to 401k?
Replies: 24
Views: 1175

Re: Renal Property Math - Make Sense?

Yes your math makes sense. I'm renting out my previous residence now because of similar math. I have it on a 15 year fixed mortgage so it doesn't generate positive cash flow, but the principal is ticking down at a nice clip - more than the negative cash flow each month. So why sell? Somebody else is...
by Meg77
Wed Mar 26, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renal Property Math - Make Sense?
Replies: 21
Views: 1823

Can I Backdoor Roth BEFORE rolling TIRA to 401k?

My fiance would like to do a backdoor Roth IRA for 2013. Obviously he needs to make a nondeductible IRA contribution prior to April 14th and then proceed with the Roth conversion. His problem is that he's got a sizable Traditional IRA with Vanguard that he has been trying to get moved to his company...
by Meg77
Tue Mar 25, 2014 5:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can I Backdoor Roth BEFORE rolling TIRA to 401k?
Replies: 24
Views: 1175

Re: Saving a % of income vs saving a $ amount?

I've thought about this a bit as my income rose in the last few years. It used to be that maxing out retirement accounts was a huge percentage of my income, but now it's more like a reasonable percentage of my income. The amount I've been saving for retirement has remained fixed ($17.5K in my 401k a...
by Meg77
Tue Mar 25, 2014 4:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving a % of income vs saving a $ amount?
Replies: 23
Views: 3031

Re: Credit cards during and after college.

You need to apply for a Secured Credit Card. Bank of America has a really good one. Once you get started with that for about 6 months, it'll allow you to get better cards. Please, please, please don't ever get a credit card from Capital One. They are worthless. I love my capital one card. Great cas...
by Meg77
Mon Mar 24, 2014 5:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit cards during and after college.
Replies: 19
Views: 628

Re: Have extra cash: Should I pay off the HOUSE or INVEST it

From an investment perspective, using funds to off a long term fixed rate 3.375% tax deductible loan is a terrible use of funds. First of all, understand that you've already bought the home - you own that investment, it will appreciate or depreciate regardless of how/when you pay off the mortgage. (...
by Meg77
Sat Mar 22, 2014 4:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have extra cash: Should I pay off the HOUSE or INVEST it?
Replies: 31
Views: 2776

Re: POLL: Do you have a financial advisor?

There are a lot of different types of financial advisers, and some can be very useful in certain situations. I've had friends really benefit from a few hours with a fee only (i.e. by the hour) planner who helped them set goals and pick investments and some basics. You can read a lot on the internet,...
by Meg77
Fri Mar 21, 2014 3:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Do you have a financial advisor?
Replies: 37
Views: 1997

Re: House flipping investing - Am I wrong or what? Please ad

I've done some hard money lending, but this proposal is much riskier than that. Here are some terms I'm familiar with in my area. Hard Money Loans (these days, as distinct from 5+ years ago) Charge 10-14%, payments are interest only monthly 3 months to 12 months loan term Lender has 1st lien on the ...
by Meg77
Fri Mar 14, 2014 12:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: House flipping investing - Am I wrong or what? Please advice
Replies: 21
Views: 2346

Re: Will we be ok?

Short answer - yes of course you will be OK! You are over 20 years away from retirement age, you make a 6 figure income, you have a nice sized nest egg, and you are maxing out retirement accounts. You have plenty of time - and money - to create whatever kind of vision of retirement you decide that y...
by Meg77
Fri Mar 14, 2014 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Will we be ok?
Replies: 45
Views: 4229

Re: Opinions on our situation? Very Long Post!

I think you are doing great as well. Given your whole situation (lowest earning years, new baby, living with MIL, new marriage), I would lower my retirement savings a bit. You are contributing about 20% to retirement funds, which is a lot considering your age and your other competing short term inte...
by Meg77
Fri Mar 14, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Opinions on our situation? Very Long Post!
Replies: 21
Views: 2404

Re: Joint or Separate Accounts? - Married Couples

I'm engaged and have been thinking a lot about this topic as well. For what it's worth, if you do plan to split accounts, a much better (i.e. more fair) way to go about it is for each of you to simply put X% of your pay into a joint account each month - rather than a fixed dollar amount. That percen...
by Meg77
Wed Mar 12, 2014 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Joint or Separate Accounts? - Married Couples
Replies: 82
Views: 3370

Re: 2 Comma Club

HomerJ wrote:
Grt2bOutdoors wrote:Next stop - 8 digits. :sharebeer


Heh, next stop retirement. 8 digits is a failure in my book... That means I didn't start spending soon enough. :)


Haha! I support this sentiment. Congratulations!
by Meg77
Fri Mar 07, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: 2 Comma Club
Replies: 24
Views: 2821

Re: What's the Appropriate Net Worth by % for a 27 year old?

Hi Meg77, I'm hoping to build up a portfolio that's heavy on real estate as well. May I ask how you managed to accumulate so much capital? Was it through a high income job or inheritances? My real estate ventures were made possible by my grandparents, who set aside money for my education every year...
by Meg77
Thu Mar 06, 2014 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8748

Re: New 401k Plan - Terrible Funds, Great Match

I'd say that all of those stock market funds will outperform that stable value fund over the next 20-30 years. So there's no way I'd put my retirement money in the stable value fund just to save on fees. Not a chance. That's a really good point. Don't want to let fees dictate my elections entirely....
by Meg77
Thu Mar 06, 2014 4:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401k Plan - Terrible Funds, Great Match
Replies: 21
Views: 1366

Re: New 401k Plan - Terrible Funds, Great Match

placeholder wrote:
freddie wrote:I could live with the ER. It is the 5%+ load that is really bad.

Most plans waive loads on those sorts of funds but Meg should of course check on that.


The rep said all their funds are no load funds, but I'm not sure I believe him.
by Meg77
Thu Mar 06, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401k Plan - Terrible Funds, Great Match
Replies: 21
Views: 1366

Re: New 401k Plan - Terrible Funds, Great Match

Thanks for all the suggestions. I didn't think about the stable value fund being a stand in for my fixed income allocation. I really like the idea of taking advantage of that fund. It would enable me to actually have some "fixed income" without taking on the risk of bonds right now - plus ...
by Meg77
Thu Mar 06, 2014 12:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401k Plan - Terrible Funds, Great Match
Replies: 21
Views: 1366

Re: My 401k match

The most typical 401k plan is set up to match $0.50 for every $1.00 you contribute, up to 6% of your salary. So in other words most people get a 3% match. Your plan is good based on that, but matching isn't the only thing to look at. What is your vesting schedule? Most companies vest on a 5-6 year s...
by Meg77
Thu Mar 06, 2014 12:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: My 401k match
Replies: 24
Views: 1411

New 401k Plan - Terrible Funds, Great Match

My company is being acquired, and our 401k plan is being merged into the plan of the new company. I was hoping our plan would just be terminated - meaning I'd get to rollover my current balance into my IRA - but unfortunately I don't have that option, and my whole balance will convert over to Allian...
by Meg77
Wed Mar 05, 2014 7:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: New 401k Plan - Terrible Funds, Great Match
Replies: 21
Views: 1366

Re: What's the Appropriate Net Worth by % for a 27 year old?

I don't think net worth percentages matter at all. The majority of Americans hold a huge portion of their net worth in real estate equity, particularly when they are younger and haven't accumulated much in retirement or investments yet. At the other end of the spectrum, many of the most wealthy/suc...
by Meg77
Wed Mar 05, 2014 6:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8748

Re: Student Loan Refinancing

Just wanted to follow up and see if anyone has actually ended refinancing through DRB and what their experience is. My fiance got his application processed and loan paid off in just over 30 days with Drb in Dec 2013. The rep was not very responsive to emails or phone calls, apparently due to very l...
by Meg77
Wed Mar 05, 2014 5:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Student Loan Refinancing
Replies: 17
Views: 2072

Re: Should I become sole provider for fiance?

I think it's very generous that you are supporting your fiance while she gets her degree by living together (i.e. lowering her rent), paying for household items and groceries, covering entertainment and other basic needs, and - presumably - providing emotional support as well. I do not think you sho...
by Meg77
Thu Feb 20, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I become sole provider for fiance?
Replies: 97
Views: 6021

Re: What's the Appropriate Net Worth by % for a 27 year old?

I don't think net worth percentages matter at all. The majority of Americans hold a huge portion of their net worth in real estate equity, particularly when they are younger and haven't accumulated much in retirement or investments yet. At the other end of the spectrum, many of the most wealthy/succ...
by Meg77
Thu Feb 20, 2014 6:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8748

Re: Getting Married - Checklist? And Questions

Just a few random thoughts: 1. Because you earn good money (apparently), your fiance may want to check with his divorce attorney to see how/whether remarrying might impact his alimony payments to his ex (if applicable). This varies by state I'm sure, but I've heard horror stories where suddenly the ...
by Meg77
Thu Feb 20, 2014 5:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting Married - Checklist? And Questions
Replies: 21
Views: 1638

Re: Mint Vs Ibank Vs Quicken for mac

I'm also curious about other options. As I stated several posts above, I've been satisfied using Yodlee 9.x for many years, but worry they may drop it at some point and offer just the newer version. (Which I do not enjoy using.) A lot of folks here are recommending You Need a Budget. Just for clari...
by Meg77
Thu Feb 20, 2014 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mint Vs Ibank Vs Quicken for mac
Replies: 40
Views: 5397

Re: Mint Vs Ibank Vs Quicken for mac

I've been a Mint user forever but only for spending; I never even look at the investments tab. I discovered SigFig recently and have really been loving it though. It was recommended by Money Magazine (or somewhere) as the best new investment app/website so I registered. It's super easy and streamlin...
by Meg77
Wed Feb 19, 2014 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mint Vs Ibank Vs Quicken for mac
Replies: 40
Views: 5397

Re: taxes done and…why is my spouse working?

One thing I just want to point out is that it's important to consider lifetime earnings (including future social security benefits) when making decisions about work. Most people tend to look at the payoff of a lower-earning spouse working vs not working by looking only at the present financial situa...
by Meg77
Tue Feb 18, 2014 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 8928

Re: Wanting to know if this financial situation is feasible

Assuming you actually do end up splitting half of your husband's stock options and actually do have $2.5MM leftover after taxes, I do not think you have enough to live off unless you are prepared to live extraordinarily modestly - particularly for that region. To answer your question, $2MM is enough...
by Meg77
Tue Feb 18, 2014 11:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Wanting to know if this financial situation is feasible
Replies: 73
Views: 4972

Re: interesting article on rebalancing using vanguard data

Interesting. I wonder how the results may have been different though if US stocks had represented more than 20% of the portfolio though. Having 66% of stocks weighted to international holdings seems like a huge variance compared to the average portfolio, and the volatility of that asset class surely...
by Meg77
Tue Feb 18, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: interesting article on rebalancing using vanguard data
Replies: 6
Views: 586

Re: How do I chose an accountant?

I'm debating this as well. I've been doing my own taxes on turbotax for years (despite multiple rental properties and taxable stocks), but I'm getting married and think it's time to graduate to professional assistance when we file together next year. My thing is - I can figure out the schedules. Tax...
by Meg77
Thu Feb 06, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do I choose an accountant?
Replies: 4
Views: 460

Re: Best Credit Card Promos 2014

Glad to know these are the best deals around. One of my old cards got bought by Capital one and I got converted to the Quicksilver card a few months ago; I have been enjoying the 1.5% cash back on everything. My only gripe is that my credit limit is fairly low ($5500 carried over from my old provide...
by Meg77
Thu Feb 06, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Credit Card Promos 2014
Replies: 24
Views: 3496

Re: Pay off student loans or contribute to roth ira?

You are definitely on the right track! I agree with others that in your situation it's kind of a coin toss as to whether you should focus on the Roth or the debt pay down. I do think you can and should do both, particularly by using a Roth as your emergency fund (even if it means having cash in the ...
by Meg77
Thu Feb 06, 2014 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay off student loans or contribute to roth ira?
Replies: 18
Views: 2241

Re: Buy House to Pay Student Loans?

I'm not sure what rate your student loans are at, but check out drbank.com for some great refinance options, assuming you have a graduate degree (which based on your income and debt load I bet you might).
by Meg77
Thu Feb 06, 2014 2:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy House to Pay Student Loans?
Replies: 11
Views: 837

Re: Should I refinance ? Does my logic make sense ?

IF you decide to refinance, don't pay extra to buy the loan down to 3.00%. The difference in your payment between 3.125% and 3.00% is only $25, and the difference in closing costs is $3,017. That means it will take you over 120 months just to break even (meaning the point at which your closing costs...
by Meg77
Thu Feb 06, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I refinance ? Does my logic make sense ?
Replies: 39
Views: 1576

Re: Buying the most expensive house you can afford

For the record, I have never heard the axiom "buy the biggest/best house you can afford" before. It does seem to be what many people do though. I think this is partly because many people don't KNOW what they can actually afford, or don't bother calculating it.
by Meg77
Mon Feb 03, 2014 6:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying the most expensive house you can afford
Replies: 101
Views: 7595

Re: Help with 401k options. Please and Thank you.

Based on your tax bracket and investment options, here is what I think: Priority Number One: Max out Roth IRAs for you and for your wife -It's fine to split IRAs between Traditional and Roth like you're doing now, but in my opinion you don't need the deduction at your income level and would benefit ...
by Meg77
Wed Jan 29, 2014 4:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with 401k options. Please and Thank you.
Replies: 12
Views: 577

Re: Secondary career in academia?

If you're willing to teach high school or younger then it takes much less education and my understanding is that in many areas at least schools are desperate for math and science teachers. Many teachers want to teach history and English, but math is another story. My mom was a stay at home mom my wh...
by Meg77
Wed Jan 29, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Secondary career in academia?
Replies: 40
Views: 1759

Re: Term life - for how long?

Regardless of how much coverage you choose, go with the 20 year term. The point of life insurance is to ensure your household cash flow will continue to be sufficient in the event of your premature death. Dying past age 65 is not premature by insurance standards. By then you can/should be retired an...
by Meg77
Wed Jan 29, 2014 12:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term life - for how long?
Replies: 36
Views: 2335

Re: Marriage, New Budget: Are We Saving Enough?

My fiance and I are getting married in April. We have been tinkering with a joint budget and investment plan, and I figured I'd open it up for advice and insight from the group. We each make pretty good money, especially for young-ish individuals, and now that we are teaming up we are dealing with ...
by Meg77
Wed Jan 29, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Marriage, New Budget: Are We Saving Enough?
Replies: 11
Views: 1970

Re: help with company 401k options

You have some great options here! STICK WITH THE INDEX FUNDS. This is the Bogleheads forum and that is the primary tenant of investing per Jack Bogle: don't overpay for funds that are just going to lag a passive index over time. Which is what actively managed funds do. Looking at the last 1-10 years...
by Meg77
Tue Jan 28, 2014 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: help with company 401k options
Replies: 4
Views: 276
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