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Bought a house, now time to think about retirement (help)

My spouse and I are 35. One child, one on the way. HHI: $230,000. He makes $100,000; I make $130,000; $100,000 of this comes from my own business (so this total fluctuates, but I've been at roughly 100k past three years) and $30,000 from a part-time job. He saves ten percent of his salary in a 401k....
by Paddington79
Sun Oct 12, 2014 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bought a house, now time to think about retirement (help)
Replies: 27
Views: 1892

Re: Gov-backed vs non-govt-backed jumbo

Sorry - so I mean a jumbo or a government conforming loan. Which is better?
by Paddington79
Fri Apr 25, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Gov-backed vs non-govt-backed jumbo
Replies: 4
Views: 310

Re: Gov-backed vs non-govt-backed jumbo

anyone anyone
by Paddington79
Fri Apr 25, 2014 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Gov-backed vs non-govt-backed jumbo
Replies: 4
Views: 310

Gov-backed vs non-govt-backed jumbo

Anyone, anyone -- could someone please explain the difference to me? Rates are better for the non-govt-backed right now.
by Paddington79
Thu Apr 24, 2014 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gov-backed vs non-govt-backed jumbo
Replies: 4
Views: 310

Is it a bad move to buy a home now?

Ugh. Well, just showed my parents the house we plan to buy (HCOL near major city). They are appalled that we're paying nearly $600,000 and have to do some legwork ourselves (refinishing floors, painting walls, etc). They were shocked at what a sellers' market it is and think the sellers should be pa...
by Paddington79
Wed Apr 23, 2014 4:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is it a bad move to buy a home now?
Replies: 34
Views: 7416

Re: Government-backed vs non-govt-backed jumbo

More detail would be great thanks.
by Paddington79
Wed Apr 23, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Government-backed vs non-govt-backed jumbo
Replies: 2
Views: 195

Government-backed vs non-govt-backed jumbo

Is "non-government-backed" riskier? Rates are a tad higher for government backed.
by Paddington79
Wed Apr 23, 2014 8:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Government-backed vs non-govt-backed jumbo
Replies: 2
Views: 195

Re: About to close on house, but permitting not done

Thanks for the advice; we're bringing an electrician in to look at it today.
by Paddington79
Wed Apr 23, 2014 8:45 am
 
Forum: Personal Finance (Not Investing)
Topic: About to close on house, but permitting not done
Replies: 6
Views: 765

About to close on house, but permitting not done

Oy: About to close on our dream house except we discovered that permits were not pulled for a new(ish) roof and newer electrical work. We beat out 14 other people for this home and I'm sure they could easily find another buyer. I'm wondering what sort of problem a lack of permitting could pose legal...
by Paddington79
Tue Apr 22, 2014 3:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: About to close on house, but permitting not done
Replies: 6
Views: 765

Let's play mortgage roulette!

Our broker is providing three options for us. I confess that the term "jumbo" loan scares me. I fear it is irresponsible or that we're somehow being taken. Please note we're in a HCOL, so our mortgage of $460,000 conforms (in our area, it must be under $470,000 to conform). Here are our th...
by Paddington79
Fri Apr 18, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's play mortgage roulette!
Replies: 2
Views: 984

Lock now or hope rates inch downward?

Hey Psychics!
We're trying to decide if we should lock a current mortgage rate *or* hope rates continue the slight downward trend over the next few weeks.
(Need to close on a home by May 24 or so).
Any sense of what rates might do?
by Paddington79
Fri Apr 18, 2014 9:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Lock now or hope rates inch downward?
Replies: 5
Views: 791

Re: Property Taxes

We are buying outside of Boston.
by Paddington79
Thu Apr 17, 2014 7:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property Taxes
Replies: 6
Views: 607

Property Taxes

Are annual property taxes based on what the house is assessed at by the city, or is the amount based on what you actually paid for the house?
by Paddington79
Thu Apr 17, 2014 6:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property Taxes
Replies: 6
Views: 607

Just had offer accepted on a house! (Advice pls!)

Hello All! We just had an offer accepted on a home. We feel fortunate that we found a well-maintained, decently sized place within our price range (under $600,000) in a HCOL area. We're now starting to line up everything we need to do, financially and otherwise. Looking for advice for those of you w...
by Paddington79
Wed Apr 16, 2014 7:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just had offer accepted on a house! (Advice pls!)
Replies: 29
Views: 2535

Re: Advice on negotiating price of home?

Hello - how would I know if it's legal? I can't find permits filed.
by Paddington79
Mon Apr 07, 2014 12:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on negotiating price of home?
Replies: 14
Views: 1239

Help, please.

[Thread merged into here, see below. --admin LadyGeek] Hi. I am so sorry to start a new thread but this might be easier. Oy. So the house we want to buy is assessed by our town at 1,000. The actual living area is 1,400. This is because former owners (not current ones from whom we'd buy) finished th...
by Paddington79
Mon Apr 07, 2014 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home improvement plans not filed with town?
Replies: 21
Views: 1007

Re: Home improvement plans not filed with town?

I am hoping that an assessor would discover it - my issue is that I don't want to buy a property that has been undervalued by the town. Is there a way to get a more up to date assessment before purchase, do you know? Thanks... - Paddington
by Paddington79
Mon Apr 07, 2014 9:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Home improvement plans not filed with town?
Replies: 21
Views: 1007

Home improvement plans not filed with town?

Hi Again - slightly different topic re home improvement technicality: The house we are looking at to buy is registered in the town assessors' database at 1000 square feet. Yet current owners made significant additions and upgrades (finished the basement, added a bathroom) upping the square footage a...
by Paddington79
Mon Apr 07, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Home improvement plans not filed with town?
Replies: 21
Views: 1007

Re: Advice on negotiating price of home?

Sadly, yes, I did....
by Paddington79
Mon Apr 07, 2014 9:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Advice on negotiating price of home?
Replies: 14
Views: 1239

Re: What age did you reach 100K networth?

29, thanks to not having any student loans and being lucky enough to find cheap rentals, thus saving. Will soon buy a house and god knows.
by Paddington79
Mon Apr 07, 2014 9:05 am
 
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 264
Views: 35124

Advice on negotiating price of home?

Hi Bogleheads, I've come here in the past for great advice, and here I am again. We have been house-hunting in a HCOL area for the past six months--the Boston area, which is notoriously pricy and lacking in inventory. We have been confronted with multiple bid situations that we've lost, people who h...
by Paddington79
Mon Apr 07, 2014 8:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Advice on negotiating price of home?
Replies: 14
Views: 1239

How will the stimulus scaleback affect mortgages?

The Paddington Family is on the hunt for a house. Have yet to find one we like.
However, I'm now feeling the heat. What is your prediction for what mortgages will do given yesterday's news from the Fed? How soon will we see mortgage rates go up? Kicking myself for not buying sooner.
by Paddington79
Thu Dec 19, 2013 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: How will the stimulus scaleback affect mortgages?
Replies: 4
Views: 554

Is sales for a start-up a "blue-collar" job?

Without going into too many details--leave it be someone asked me this today--I'm wondering if you Bogleheads consider inside sales a white- or blue-collar job? I'm not talking about door-to-door sales or car sales, but sales inside a start up or a large corporation.
by Paddington79
Fri Dec 13, 2013 3:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is sales for a start-up a "blue-collar" job?
Replies: 14
Views: 1240

Good book to read for new Boglehead investor

Hi All, I'm an avid follower of this site but when it comes to investing, I'm pretty clueless. Essentially, my spouse and I save 15-20 percent of our total HH income in our companies' 401k plans, and we also fund a Fidelity college fund for our son. I'd like to take a more active role in our investi...
by Paddington79
Mon Dec 02, 2013 9:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Good book to read for new Boglehead investor
Replies: 8
Views: 521

When budgeting, do you take a yearly or monthly view?

We're house-hunting and projecting our budget to reflect what our new mortgage payments would be. A sizable portion of our income comes from our own side business. Overall, with the "new" mortgage budget, we would be up 20k by the end of the year, based upon years of previous performance h...
by Paddington79
Sat Sep 21, 2013 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: When budgeting, do you take a yearly or monthly view?
Replies: 16
Views: 1394

Preapproval letter versus actual loan for mortgage

Hello! I've done some sleuthing on this and remain a bit perplexed. When applying for a mortgage, do you have to use the same company who issues your pre-approval letter? Or can you get your letter from one lender, then go with another for the actual loan application? I am told it's the latter but I...
by Paddington79
Tue Sep 10, 2013 8:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Preapproval letter versus actual loan for mortgage
Replies: 5
Views: 697

Re: How much should remain in liquid savings after buying a

The $30k would be earmarked as emergency fund. We have separate funds for retirement/college savings/etc.
by Paddington79
Sun Sep 01, 2013 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: How much should remain in liquid savings after buying a home
Replies: 23
Views: 2430

Re: Get an MBA or Invest?

As someone who got an MBA recently (half paid for by employer, half funded by me via loans/scholarship/etc) - I would really look hard at what you hope to gain from it. The MBA has helped my earning potential, but as yet I have not reaped the investment and I'm not sure that it gave me the edge I wa...
by Paddington79
Sun Sep 01, 2013 10:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Get an MBA or Invest?
Replies: 50
Views: 3606

How much should remain in liquid savings after buying a home

The Paddingtons are ready to pounce on the housing market. We live in a HCOL and prices are creeping ever higher. About us: early thirties, one kid (another in the offing), renting for a very good price right now, HHI $175k less a graduate school loan of 50k which we're trying to chip away at heavil...
by Paddington79
Sun Sep 01, 2013 10:12 am
 
Forum: Personal Finance (Not Investing)
Topic: How much should remain in liquid savings after buying a home
Replies: 23
Views: 2430

Any educated guesses about how interest rates will go?

I am kicking myself for not buying last year!! But we weren't ready. Now we are, although I wouldn't mind saving even more for a larger DP.
However, with rates rising, I'm also afraid to wait too long.
Any psychics out there? :o :oops:
by Paddington79
Thu Aug 29, 2013 6:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any educated guesses about how interest rates will go?
Replies: 11
Views: 1611

Re: Home Affordability - Your Rules of Thumb May Help Us

Sorry, I am confused. Is your down payment in liquid savings or contingent on selling your current home?
by Paddington79
Tue Aug 27, 2013 9:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability - Your Rules of Thumb May Help Us
Replies: 34
Views: 3004

Re: Calm me down -- I just signed up with Lending Tree

Thanks - sorry. I am mainly upset because I fear that lenders will continually pull my SSN indefinitely, thus dinging my credit.
Is there a finite limit on when they can stop pulling my info? (I have called Lending Tree and asked that they cancel my request.)
by Paddington79
Tue Aug 27, 2013 9:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Calm me down -- I just signed up with Lending Tree
Replies: 10
Views: 1789

Re: Calm me down -- I just signed up with Lending Tree

[OT comment removed by admin LadyGeek]
by Paddington79
Tue Aug 27, 2013 8:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Calm me down -- I just signed up with Lending Tree
Replies: 10
Views: 1789

Calm me down -- I just signed up with Lending Tree

Was this dumb?? I'm shopping for a mortgage, saw it recommended on another thread, and now my phone is ringing off the hook... They asked for my SS for a soft credit pull. Now I'm afraid that lenders are also running my credit, and it's being dinged. Freaking that they have my SS. I was just trying ...
by Paddington79
Tue Aug 27, 2013 8:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Calm me down -- I just signed up with Lending Tree
Replies: 10
Views: 1789

Income with a sizable bonus component

How does one manage money with a sizable (yet reliable) bonus component? Can anybody recommend strategies, good websites, etc?
by Paddington79
Tue Aug 27, 2013 7:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Income with a sizable bonus component
Replies: 5
Views: 810

Re: How to go about mortgage preapproval?

How do you discover who has the best deal and what the costs are? I guess that's what I mean. No idea how to determine whose rates are the best - does a broker do that, or do I?
by Paddington79
Tue Aug 27, 2013 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to go about mortgage preapproval?
Replies: 8
Views: 588

How to go about mortgage preapproval?

Hello! We are first-time homebuyers and we're ready to start looking seriously. I'm clueless. Do we go directly to a bank? Contact a trusted broker? I fear going directly to one bank (missing out on a better rate elsewhere, don't know enough about mortgages to "do it ourselves"") - bu...
by Paddington79
Tue Aug 27, 2013 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to go about mortgage preapproval?
Replies: 8
Views: 588

Used car recommendations?

Hello All, We're in the market for a certified pre-owned vehicle. Here are our requirements: MUSTS: Looking for something with mileage under 40,000 Looking for something 2009 or newer Would like to pay $18,000 or less Well-rated/ranked NICE: Good gas mileage SUV or wagon-SUV hybrid Ample trunk space...
by Paddington79
Mon Aug 19, 2013 2:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Used car recommendations?
Replies: 15
Views: 925

To what degree is $ negotiation part of the hiring process

Curious for the Boglehead stance here. Let's say you're ready to hire a terrific candidate, but you had a budget of say $80,000 for a position. Candidate wants more and is making that at old job - would you be willing to fudge the salary, and by how much, to accommodate your first choice? Would you ...
by Paddington79
Thu Jul 18, 2013 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: To what degree is $ negotiation part of the hiring process
Replies: 13
Views: 1334

Re: Negotiating for a higher salary in a biz development job

Thank you!
How much of a percentage in base increase do you think is reasonable?
by Paddington79
Tue Jul 16, 2013 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Negotiating for a higher salary in a biz development job
Replies: 6
Views: 816

Negotiating for a higher salary in a biz development job

Hello All! Mr. Paddington79 is thisclose to being offered a new job. He's been itching to move forward after being in a stall for a while. He works in business development. He's looking for a bigger challenge that suits his credentials -- which this job is -- and frankly, he wants higher base pay gi...
by Paddington79
Tue Jul 16, 2013 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Negotiating for a higher salary in a biz development job
Replies: 6
Views: 816

Re: How to get over finance envy

This has been a really eye-opening thread. I think my renting a home has gotten the better of me because it feels somehow "immature." Thanks for all of your replies!
by Paddington79
Tue Jul 09, 2013 10:09 am
 
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 167
Views: 17721

How to get over finance envy

My husband and I are cautious people. We try to save faithfully, no credit card debt, no car debt, nothing. We save 22 percent per year in a 401k and contribute faithfully to our kids' college fund. Meanwhile we are faithfully waiting til we have 20 percent down on a house plus extra savings of 30k....
by Paddington79
Mon Jul 08, 2013 8:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 167
Views: 17721

Pay down mortgage rate?

A realtor friend told me that it is possible to pay more up front to secure or pay for/pay down a lower mortgage rate.
Is this true? This was at a party and I felt weird pressing her for more information on it! :moneybag
by Paddington79
Sun Jul 07, 2013 7:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay down mortgage rate?
Replies: 4
Views: 597

Wait and save more, or nab lower interest rate?

Hi All, I posted about a week ago about trying to decide when to buy a home. Right now my primary concern is that interest rates will edge up by the end of 2013, and we'll be hindered enough to rent forever. This is a nerve-wracking thought. However, renting longer would allow us to save an even lar...
by Paddington79
Thu Jun 27, 2013 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wait and save more, or nab lower interest rate?
Replies: 21
Views: 2116

Home buying/interest rates/nervous

Hello All, New to the board and hoping to get good insights here! My husband and I are 34 and looking for our first home, in the Northeast. We are in a rather pricy area with low inventory right now. As for us: We have saved $120,000 in a liquid account. We are looking at homes in the $450,000 range...
by Paddington79
Sun Jun 23, 2013 1:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home buying/interest rates/nervous
Replies: 4
Views: 841

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