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Re: Thoughts on getting out [of job]

I agree that your mental and physical health depends on you making a drastic change. Whether that is a leave of absence or early retirement or new job or change in role at work - I will leave it to you to decide. Here are my thoughts: 1. One big factor that you haven't mentioned is how your wife fee...
by Meg77
Fri Oct 24, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thoughts on getting out [of job]
Replies: 37
Views: 4974

Re: Our plan to pay off our mortgage by Age 40

I think you should refinance to a 15 year loan and the invest the difference rather than make extra payments up front. Life can throw you curve balls, and if you decide in a few years that you want to start a business or fund a non-profit or move or have a child after all or whatever - then having a...
by Meg77
Fri Oct 24, 2014 2:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Our plan to pay off our mortgage by Age 40
Replies: 10
Views: 1263

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

Why are you considering selling? What would you do with the proceeds from the sale? If you don't need the cash and you have positive cash flow, then just keep it. Every year your equity increases and hopefully so does your cash flow. Once the mortgage is paid off this will be an even nicer source of...
by Meg77
Fri Oct 24, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would You Sell Or Continue Renting Out My Condo?
Replies: 13
Views: 1208

Re: Feeling rich to feeling poor overnight

Don't move 30 minutes further from your job/life/friends. Commuting takes a huge toll on people's life and job satisfaction and also their relationships. It's impressive that you've been able to max out all tax advantaged space due to having a below-market rental for a little while. But now you don'...
by Meg77
Fri Oct 24, 2014 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 56
Views: 5798

Re: "Jack Bogle on Warren Buffett, Bill Gross and How to Inv

Wow, what a great read. Wish I could have been there!
by Meg77
Fri Oct 24, 2014 1:49 pm
 
Forum: Investing - Theory, News & General
Topic: "Jack Bogle on Warren Buffett, Bill Gross and How to Invest"
Replies: 14
Views: 1850

Re: How did you buy your largest home?

My current plan is to keep every home I ever own and convert them to rentals when I move so this question doesn't entirely apply to me. However, I'd probably just put down 20% (or whatever it took to get the lowest rate mortgage - some jumbos require 30% down) and use the rest to invest or pay down ...
by Meg77
Fri Oct 24, 2014 11:57 am
 
Forum: Personal Finance (Not Investing)
Topic: How did you buy your largest home?
Replies: 25
Views: 2392

Re: Should I Sue?

I wouldn't even consider suing. If you do anything you could appeal with your renters insurance. Or get an estimate for the recovering and take it back to the management company. But if they don't budge, I'd just consider it one of those accidents that we have to deal with in life. Life isn't always...
by Meg77
Fri Oct 24, 2014 11:46 am
 
Forum: Personal Consumer Issues
Topic: Should I Sue? [couch damaged in garage of rental]
Replies: 39
Views: 2918

Re: Buying home, have student loans

Those calculators aren't really super useful in my experience. They usually fail to take into account actual tax and insurance costs of a property (which vary widely from state to state), plus they will tell you the MAX you can afford or get approved for - which is not necessarily what you should be...
by Meg77
Fri Oct 24, 2014 11:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying home, have student loans
Replies: 4
Views: 408

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

Chattanooga TN hits all your criteria. I've never been there, but would be interested in checking it out. Probably not a lot of suburban sprawl which would be nice :) I went to summer camp on Lookout Mountain just 30 mins from there every summer, and I went to boarding school in Chattanooga for 2 y...
by Meg77
Fri Oct 24, 2014 11:18 am
 
Forum: Personal Consumer Issues
Topic: Best place (with warm weather) to raise children
Replies: 73
Views: 4984

Re: Do you regret buying your home?

I bought a condo right out of college in the neighborhood where I would have been renting, and I never regretted it. The costs were literally almost the exact same as if I'd been renting (verified by the fact that I moved and rented it out earlier this year) and the lifestyle was pretty much the sam...
by Meg77
Thu Oct 23, 2014 3:57 pm
 
Forum: Personal Consumer Issues
Topic: Do you regret buying your home?
Replies: 71
Views: 4955

Re: Which lots do you sell when redeeming shares?

Yes, in your case you should sell the $100/share lot. It cost you the least in taxes, plus it also has the added benefit of being precisely the amount you want to redeem.
by Meg77
Wed Oct 22, 2014 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: Which lots do you sell when redeeming shares?
Replies: 14
Views: 891

Re: Portfolio Advice Wanted - Recently Married Couple

Looks like you're on a great track! One thing I wanted to throw in was to opt for Roth IRAs versus Traditional. With Roth accounts you can access the funds any time so they can operate as a de facto emergency fund if need be. Besides at your age and income level (especially once your wife quits work...
by Meg77
Wed Oct 22, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice Wanted - Recently Married Couple
Replies: 6
Views: 966

Re: Help Change Direction - Invest or Fix Personal Finance

Questions: 1. My primary concern is that I would like to eliminate my credit card debt and start new. All the readings seem to say to not even bother investing until this is addressed. What is your perspective on me closing / cashing out the Previous Employer 401k account to pay off credit card deb...
by Meg77
Wed Oct 22, 2014 2:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help Change Direction - Invest or Fix Personal Finance
Replies: 16
Views: 1136

Re: ESPP) Employee Stock Purchase Plan

I agree this can be a great tool - not for long term investments but for getting a 15% return on your money. My husband and I are striving to max his out this year even though doing so has hit our cash flow (we're basically drawing down savings a bit each month while he gets very little net pay). We...
by Meg77
Wed Oct 22, 2014 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: ESPP) Employee Stock Purchase Plan
Replies: 7
Views: 507

Re: I feel I did the Right thing , but NOW WHAT?

dolphinsaremammals wrote:
Jack FFR1846 wrote:Dump cable
Dump cell phones
Fix windshield
Trade mustang for a 3 year old accord and take a check to the bank


You forgot dump husband.


I agree with all of the above. And laundry service is a great idea! Good luck...
by Meg77
Tue Oct 21, 2014 5:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: I feel I did the Right thing , but NOW WHAT?
Replies: 36
Views: 5209

Re: "I've had it" at work - how often

I think your manager, company culture, and team dynamics can have a much bigger impact that actual occupation or even hours worked. Also I've seen studies that indicate commute has a large impact on work satisfaction - more than even pay to some degree. I've never really had that "I've had it&q...
by Meg77
Tue Oct 21, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: "I've had it" at work - how often
Replies: 151
Views: 12356

Re: Can I stop saving for a retirement 30 years in the futur

I'm in a similar situation and have thought about this myself. My husband and I saved aggressively (relative to many anyway) in our 20s and early 30s and have nearly $400K in retirement accounts currently. I would love to get to the point where we can feel like we don't ever have to contribute anoth...
by Meg77
Tue Oct 21, 2014 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I stop saving for a retirement 30 years in the future?
Replies: 11
Views: 2554

Re: What Are We Doing To Our Young Investors?

I read this article yesterday and it does make some sense. I'm in my 30s and have had several friends cash out 401ks or take out big loans in order to make a home purchase, pay off debt or pay bills after a job loss. Sure it's not what you're "supposed" to do with 401k funds, but like it o...
by Meg77
Tue Oct 21, 2014 3:19 pm
 
Forum: Investing - Theory, News & General
Topic: What Are We Doing To Our Young Investors?
Replies: 29
Views: 4113

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: 73
Views: 4984

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: 26
Views: 3215

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: 11
Views: 1012

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: 875

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: 1296

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: 8200

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: 8200

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: 4314

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: 2203

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: 356

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: 4314

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: 1566

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: 1740

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: 3479

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: 3554

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: 15765

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: 14006

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: 4010

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: 1999

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: 27097

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: 1999

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: 2769

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: 1999

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: 1350

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: 3630

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: 3723

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: 8345

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: 4142

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: 3333

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: 6678

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: 731
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