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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: 15
Views: 935

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: 118
Views: 6058

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: 48
Views: 4824

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: 48
Views: 4824

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: 7182

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: 4812

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: 3814

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: 9213

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: 1427

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: 48
Views: 4824

Re: Help with my parent's finances

Well the good news is that it sounds like they are doing pretty well and won't have to ride out retirement in your guest room! 1. Agree with all the others about selling the company stock. I also don't think there are tax implications to do so within a 401k, but I'm not a CPA. Either way it's still ...
by Meg77
Fri Sep 05, 2014 3:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with my parent's finances
Replies: 21
Views: 1902

Re: 32 YO married - Question on Backdoor IRA

Here's how it works for me (I use Vanguard for the record). 1. Open a traditional IRA at Vanguard.com (or wherever). They don't know and won't ask whether you can deduct your contribution or not - it's just a Traditional IRA from their standpoint. 2. "Buy" $5,500 of some investment within ...
by Meg77
Fri Sep 05, 2014 2:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: 32 YO married - Question on Backdoor IRA
Replies: 5
Views: 520

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

My husband recently bought a new car, and in searching for financing options online he came upon Lightstream, which is a division of Suntrust Bank. https://www.lightstream.com/ They advertise a 5 year fixed 1.99% loan for auto financing, but upon further review it turns out that their loans are actu...
by Meg77
Thu Sep 04, 2014 12:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1.99% Unsecured "AnythingLoan" READ UPDATE 9-10-14
Replies: 48
Views: 4824

Re: Did you reveal to your kids...your savings and salary

I'm in my 30s and have always talked to my parents openly about money. But I've never known anything about how much my mom and dad earned, or about how much they spent for that matter. I couldn't even ballpark it since my dad was mostly self employed and always had income from various sources/projec...
by Meg77
Wed Sep 03, 2014 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you reveal to your kids...your savings and salary
Replies: 75
Views: 6798

Re: Poll: How many own zero/few stocks?

I'm in no index funds. Got 2 target date funds Interesting that you make that distinction... I'd consider you 100% in index funds. index funds are tied to some kind of index. although i can look at the components of my main fund trrbx-it holds underlying funds that are managed and not managed- this...
by Meg77
Fri Aug 29, 2014 1:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: [Sell off individual stocks?] How many own zero/few stocks?
Replies: 68
Views: 2740

Re: Poll: How many own zero/few stocks?

I have a brokerage account where I own 7 stocks. My husband also has a brokerage account he came into marriage with where he owns 6 stocks. The total value comes to right at 7% of our total investments. The other 93% is primarily in index funds with the exception of a few small sector funds in our I...
by Meg77
Fri Aug 29, 2014 1:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: [Sell off individual stocks?] How many own zero/few stocks?
Replies: 68
Views: 2740

Re: My husband's " WILL", $ left for me to live on....

I agree with everything that is posted above, including the probability that there are probably cultural issues at play here which apparently trump the very unusual situation of a wealthy spouse who expects you to live at the poverty line - even while supporting his own child! - after he dies. If yo...
by Meg77
Thu Aug 28, 2014 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: My husband's " WILL", $ left for me to live on....
Replies: 258
Views: 17333

Re: AA suggestions for short period of high earnings

Your income shooting up shouldn't really impact your target AA at all. Whether you're making $50K a year or $1MM a year the decision of where to invest should be driven by what you're investing for (mainly, how long before you need the money). I think your aggressive Target AA is appropriate given y...
by Meg77
Wed Aug 27, 2014 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA suggestions for short period of high earnings
Replies: 4
Views: 459

Re: Mortgages and financial freedom

I haven't read all the responses, but I am on the other end of the typical Boglehead extreme and am probably a bit too comfortable with debt. I think of leverage - particularly long term fixed rate tax deductible leverage - as a powerful tool. It has enabled me to accumulate a very large asset base...
by Meg77
Wed Aug 27, 2014 4:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgages and financial freedom
Replies: 111
Views: 6826

Re: Request Additional Investment Advice

I agree with the above posters. If you want some real estate exposure I think that's fine to add - also the TIPS bond fund is a good one too. But in general it's fine to hold the same funds. It'll all be in one pot one day when you roll over the 401k to an IRA anyway!
by Meg77
Wed Aug 27, 2014 4:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Request Additional Investment Advice
Replies: 5
Views: 299

Re: Young, Ambitious and Relatively Clueless

To answer your later question, the downside of investing in a taxable account is that you will have to pay taxes every year based on the capital gains distributions and dividends/interest thrown off by that fund. When you rebalance or trade funds/stocks, you'll also owe capital gains on those transa...
by Meg77
Wed Aug 27, 2014 4:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Young, Ambitious and Relatively Clueless
Replies: 13
Views: 1396

Re: Hit a financial milestone at an age milestone

Awesome job! And just imagine where you'll be in another 10 years!! :sharebeer
by Meg77
Wed Aug 27, 2014 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hit a financial milestone at an age milestone
Replies: 50
Views: 4987

Re: Savers vs. Spenders: Default Mode

If you think about it, pretty much ALL money earned or accumulated is earmarked for spending. "Savers" may be wired to plan for or worry about the future more than "spenders" who prefer to enjoy today to the fullest or who don't look ahead. But even savers generally plan to ultim...
by Meg77
Wed Aug 27, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savers vs. Spenders: Default Mode
Replies: 34
Views: 2234

Re: Portfolio Asset Allocation advice

There are several questions at play here: 1. What is a good target Asset Allocation? The fact that you're in retirement and withdrawing versus contributing is a factor, but age is still a factor as well. You don't want to go too conservative since you may live another 30-40 years - or longer if you ...
by Meg77
Wed Aug 27, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Asset Allocation advice
Replies: 6
Views: 479

Re: Can a Boglehead put down 10% on a house?

I haven't read all the responses, but I would absolutely go ahead and buy a home in that range with 10% down. The fact that you are currently in a 1 br apt and not simply trying to upgrade a house you don't really need to move from is one reason for my opinion, along with the prospect of interest ra...
by Meg77
Tue Aug 26, 2014 3:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a Boglehead put down 10% on a house?
Replies: 30
Views: 2461

Re: Changing AA from 90/10 to 80/20

I agree that 80/20 is a very reasonable long term AA (though I am 30 and still maintain my original 90/10 AA). I just wanted to say that one method of adjusting your AA is to do so gradually via new contributions rather than picking a date to sell a bunch of stocks and buy bonds. Until very recently...
by Meg77
Tue Aug 26, 2014 3:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Changing AA from 90/10 to 80/20
Replies: 6
Views: 986

Re: SP500 and recency bias

I for one have the opposite problem. The higher the S&P goes, the more I want to sell some things and/or shift my AA to favor bonds. But then it ticks up even higher...I have to remind myself you can't time the market, but it sure is tempting to take some gains off the table and wait for an inev...
by Meg77
Tue Aug 26, 2014 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2149

Re: Mortgages and financial freedom

I haven't read all the responses, but I am on the other end of the typical Boglehead extreme and am probably a bit too comfortable with debt. I think of leverage - particularly long term fixed rate tax deductible leverage - as a powerful tool. It has enabled me to accumulate a very large asset base ...
by Meg77
Tue Aug 26, 2014 12:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgages and financial freedom
Replies: 111
Views: 6826

Re: Total International Bond Index Fund

I've been thinking about whether I should add this fund as well, to replace a small portion of my bond holdings. I haven't gone too deeply into the studies or historical performance (which, of course, doesn't guarantee future results anyway, as we all know). However on its face it seems like any add...
by Meg77
Tue Aug 26, 2014 11:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Total International Bond Index Fund
Replies: 36
Views: 2708

Re: To be truly rich, take stock of your life before investi

This reminds me of the values exercises I have seen in some financial planning materials which make a distinction between goals and values. Linking your financial goals to your values helps you stay motivated to reach them. It can also encourage you to spend in line with things that really matter to...
by Meg77
Wed Aug 20, 2014 11:23 am
 
Forum: Investing - Theory, News & General
Topic: To be truly rich, take stock of your life before investing
Replies: 30
Views: 4530

Re: Savings Percentage [rules of thumb]

Short answer: I always look at gross income figures because it's the simplest way to calculate it and gauge progress. Net pay is misleading since taxes fluctuate and your withholding could include investments (401k, ESPP, and HSA) and expenses (insurance premiums). Plus your tax withholding is unlik...
by Meg77
Tue Aug 19, 2014 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 5495

Re: Stop Passing Up This Great Deal - In Money Magazine

You aren't forced to take out RMDs each year (which could enable you to avoid selling at a market low in down years) This is an oft repeated but completely incorrect point about RMDs. An RMD in no way forces you to realize a loss on any security, it just forces you to remove that security from your...
by Meg77
Thu Aug 14, 2014 4:20 pm
 
Forum: Investing - Theory, News & General
Topic: Stop Passing Up This Great Deal - In Money Magazine
Replies: 80
Views: 11238

Re: Is the goal in sight? Should I relax?

Obviously you are doing better than the majority of people out there, but it's impossible to tell you if the goal is in sight or if you should "relax" without knowing key variables such as your age, income, and desired income in retirement. $1.6MM is a lot in savings; if you are used to li...
by Meg77
Thu Aug 14, 2014 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is the goal in sight? Should I relax?
Replies: 19
Views: 2337

Re: Where do you buy clothes?

Well since I seem to be in the minority, I'll post. I buy most of my clothes at Nordstrom. Work clothes are the likes of Hugo Boss; dresses are often Diane von Furstenburg, and shoes are Prada or Jimmy Choo or Dolce & Gabbana. These brands are very expensive, but I don't own many clothes and the...
by Meg77
Thu Aug 14, 2014 12:19 pm
 
Forum: Personal Consumer Issues
Topic: Where do you buy clothes?
Replies: 105
Views: 9226

Re: Stop Passing Up This Great Deal - In Money Magazine

[...] That's a HUGE "error". How in the world could someone be "qualified" to write for a real financial publication and get this so, so wrong? Problem is, all too many people will read that (well, whoever does make it through any such article rather than "intending to read...
by Meg77
Thu Aug 14, 2014 11:56 am
 
Forum: Investing - Theory, News & General
Topic: Stop Passing Up This Great Deal - In Money Magazine
Replies: 80
Views: 11238

Re: Stop Passing Up This Great Deal - In Money Magazine

All things considered I thought it was a good article, and it made me rethink the fact that my husband and I are maxing out Traditional 401ks even though he has a Roth 401k option. For one thing, we aren't necessarily investing the tax savings from our Traditional contribution deduction; we max all ...
by Meg77
Thu Aug 14, 2014 11:42 am
 
Forum: Investing - Theory, News & General
Topic: Stop Passing Up This Great Deal - In Money Magazine
Replies: 80
Views: 11238

Re: I...I don't even know where to begin.

Welcome! It sounds like you're not reading the right books. Most personal finance books all say the same things more or less when it comes to outlines for financial planning (pay off high interest rate debt, get your 401k match, save 3-6 months of emergency funds, get basic insurance needs covered, ...
by Meg77
Tue Aug 12, 2014 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: I...I don't even know where to begin.
Replies: 19
Views: 3066

Re: How important is my insurance agent?

State Farm runs by having agents act as an entrepreneurs/business owners. You essentially buy a "franchise" and are responsbile for building your business. I was recruited by them on LinkedIn once since an agency in my area was going up for sale and they thought I might be interested in th...
by Meg77
Tue Aug 12, 2014 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: How important is my insurance agent?
Replies: 37
Views: 2117

Re: Affording a 1.3 million home?

You can certainly afford it, especially as you easily have a 20% down payment and even more especially because you have no other debt whatsoever. I'd even go so far as to say that buying a bigger home might improve your financial situation, as an investment in real estate is arguably a lot safer (an...
by Meg77
Fri Aug 08, 2014 6:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affording a 1.3 million home?
Replies: 105
Views: 11208

Re: Can I get a Mortgage anywhere?

I'm a banker who does some residential mortgage lending, and I can tell you that the reason they ask for your city and state is indeed because which types of products are available and what interest rates are charged varies from area to area. Some banks only lend in their region and will inform you ...
by Meg77
Fri Aug 08, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I get a Mortgage anywhere?
Replies: 18
Views: 1773

Re: The Worst Investment You Can Make: Buying a Home

Oh great another incomplete and oversimplified article on why buying a home is a terrible idea which conveniently leaves out the variables that make it look better (if not great) as an investment - namely tax deductions and leverage. This article doesn't even mention home appreciation! Usually they ...
by Meg77
Fri Aug 08, 2014 4:35 pm
 
Forum: Investing - Theory, News & General
Topic: The Worst Investment You Can Make: Buying a Home
Replies: 135
Views: 16050

Re: average American eats out 203 times per year

I'm sure my husband and I are way over. I cook most of our dinners at home along with lunches and breakfast on weekends. But he eats lunch out every single work day, and I eat out (or pick up) lunch around twice a week - and I also grab a Starbucks egg white feta wrap on the way to work at least onc...
by Meg77
Fri Aug 08, 2014 12:12 pm
 
Forum: Personal Consumer Issues
Topic: average American eats out 203 times per year
Replies: 105
Views: 6488

Re: Marriage: Is it tax-friendly?

I expected a large marriage tax penalty when I got married this year because both me and my husband earn in the low 6 figures. However my projections were only taking into account our single life deductions - my small condo had low interest and tax deductions, he rented; I maxed out a Roth 401k, he ...
by Meg77
Wed Aug 06, 2014 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Marriage: Is it tax-friendly?
Replies: 50
Views: 2486

Re: Recently Engaged

I just got married in April, and what my now husband and I did was to open a joint account soon after engagement to start using for joint expenses (travel, wedding stuff, even some dining out). We each put in a lump sum and then added $500 a month each. When bigger expenses came up (down payment on ...
by Meg77
Wed Aug 06, 2014 3:39 pm
 
Forum: Personal Consumer Issues
Topic: Recently Engaged
Replies: 10
Views: 937

Re: Savings Account

Meg77, Thanks for your advise. Thanks for the advise on the emergency fund. You recommend to look at the savings account as one portfolio in conjunction with the retirement strategy? So it will be, savings + retirement strategy as one, not as separate strategies? Generally yes, your overall strateg...
by Meg77
Mon Aug 04, 2014 5:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Savings Account
Replies: 10
Views: 1098

Re: Why would anyone buy a deferred income annuity?

2. Allow you to spend more money during the deferred period earlier in retirement since there will be more income in later retirement. Many want to maximize withdrawals during their more energetic and healthy early retirement years without putting later years in an income shortage. This is one of t...
by Meg77
Mon Aug 04, 2014 4:21 pm
 
Forum: Investing - Theory, News & General
Topic: Why would anyone buy a deferred income annuity?
Replies: 59
Views: 4787

Re: Do I need a small cap index if I already have total mark

First of all, you should make sure you're investing in the Admiral versions of whatever funds you choose, assuming you have the money (most require a $10K initial investment to qualify). VTSAX is the total stock index admiral shares VTIAX is the total international fund admiral, VSMAX is the small c...
by Meg77
Mon Aug 04, 2014 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: Do I need a small cap index if I already have total market ?
Replies: 58
Views: 5459

Re: Vanguard's Facebook presence

Actually I remember reading recently that people over 50 or 55 (I can't remember which) is the fastest growing segment of FB users. So it makes sense that financial companies and other non-traditional social media participants who mostly target the older demographics are also raising their awareness...
by Meg77
Mon Aug 04, 2014 3:47 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard's Facebook presence
Replies: 26
Views: 2418

Re: Savings Account

It's important to look at all your investments as one portfolio, even if some are in taxable accounts while others are in retirement accounts. The advice as to which funds to invest in is the same (see The Three Fund Portfolio). However in taxable accounts it makes sense to keep funds with lower tur...
by Meg77
Mon Aug 04, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Savings Account
Replies: 10
Views: 1098

Re: Exchanging 401k Company Stock Match Every Paycheck?

There shouldn't be any trading or transaction fees associated with making transfers between investments within your 401k. If there are such fees they would be disclosed anyway, and would likely show up in your activity when you check the account history online or on your statements. I think you're i...
by Meg77
Mon Aug 04, 2014 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Exchanging 401k Company Stock Match Every Paycheck?
Replies: 5
Views: 464
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