Search found 206 matches

by SC Hoosier
Fri Mar 27, 2015 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Mom seeking financial help - what to do?
Replies: 62
Views: 5481

Re: Mom seeking financial help - what to do?

I would offer to write a check to the IRS for her if, and when, she meets the following demands: Move in with her father, without your brother and his entourage. Begin attending Financial Peace University Show you a written budget and show evidence of following it. Cut the financial cord with your b...
by SC Hoosier
Tue Mar 24, 2015 8:43 pm
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 67
Views: 6505

Re: Excess Cash - Play Monopoly or Repay Debt?

Thank you! Yes I do think about my total asset allocation, though it's hard to determine a future target. Currently I'm 15% cash, 61% stocks/bonds, and 24% rental equity. Over the next two years if we keep doing what we are doing that will change only slightly to 12% cash, 64% stocks/bonds, and 24%...
by SC Hoosier
Thu Mar 19, 2015 11:29 am
Forum: Personal Finance (Not Investing)
Topic: [Poll] Do you have an auto loan?
Replies: 72
Views: 5262

[Poll] Do you have an auto loan?

I did a quick search of the site and couldn't find a poll on this. We were wondering in another thread and I'm curious.

Thanks for voting.

Hoosier
by SC Hoosier
Thu Mar 19, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 2252

Re: 74% of car loans are subprime.

Subprime tends to refer to a class of people in an algorithmic risk category. Typically, this means people with a high debt-to-income ratio that are not in very stable industries, or who have poor/low credit scores. This is further complicated by the dramatic rise in pricing of newer cars, and how ...
by SC Hoosier
Thu Mar 19, 2015 11:23 am
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 2252

Re: 74% of car loans are subprime.

jfn111 wrote:
Also how many people on this board take out a loan for a car?

You see car loans mentioned with quite a few posters listing their debts.
It seems a lot of Bogleheads don't mind a cheap loan from the car companies. :moneybag


I would agree. It seems to me that it's pretty common here.
by SC Hoosier
Thu Mar 19, 2015 11:21 am
Forum: Investing - Theory, News & General
Topic: Phil Town: "Rule #1 Investing"
Replies: 11
Views: 1349

Re: Phil Town: "Rule #1 Investing"

Toons wrote:
find great companies, know their worth and acquire them at 50 percent off.


Now THAT is a tall order!!! :shock:
by SC Hoosier
Thu Mar 19, 2015 11:16 am
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 2252

Re: 74% of car loans are subprime.

I also just heard on the radio that the average amount borrowed on a new car is up to $26,000. :shock: :oops:
by SC Hoosier
Thu Mar 19, 2015 11:00 am
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 2252

Re: 74% of car loans are subprime.

I didn't hear the radio show so I don't know, but it sounds like "subprime" was being discussed as if it meant underwater... or the loan balance being more than the car is worth. Doesn't subprime have to do with the interest rate on the loan, as in it's higher than the prime rate if subpr...
by SC Hoosier
Thu Mar 19, 2015 10:34 am
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 2252

74% of car loans are subprime.

Just heard today that Americans owe $783 billion on their cars, 74% of which is in subprime loans. So, that means that at least 74% of those with a car payment should have bought a cheaper car. Wow. This is sad people. Anyone agree? Hoosier PS. My source was a radio show, don't know where they got it.
by SC Hoosier
Thu Mar 19, 2015 10:27 am
Forum: Investing - Theory, News & General
Topic: John Bogle's Don't Peek Challenge
Replies: 149
Views: 14358

Re: John Bogle's Don't Peek Challenge

As most diligent savers and investors, I look at my investments way too often. Who would like to take the "Don't Peek Challenge with me.'' His extreme version is not to look at it until you are ready for retirement and be ready to have a cardiologist nearby because you may need one when you se...
by SC Hoosier
Thu Mar 05, 2015 3:34 pm
Forum: Investing - Help with Personal Investments
Topic: What is your credit score?
Replies: 63
Views: 8121

Re: What is your credit score?

Mine is zero. I'll pay slightly higher car insurance premiums (which I don't understand because I prepay) in order to not fool with debt.

Y'all have really good "I love debt" scores. I'm impressed.
by SC Hoosier
Tue Mar 03, 2015 10:30 am
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 174
Views: 13412

Re: What is your favorite consumer product?

sharpjm wrote:Condoms.


I am so glad I don't have to wear those anymore!!!
by SC Hoosier
Mon Mar 02, 2015 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Tom Stanley-Millionaire Next Door Author Killed in Auto Acci
Replies: 76
Views: 13130

Re: Tom Stanley-Millionaire Next Door Author Killed in Auto

Found "The Millionaire Next Door" in my early 20s and couldn't put it down. What my father had been saying for years was really true.

Thank You for doing the hard homework on the reality of American finances, Dr. Stanley.

God bless you and yours in this time of loss.

Hoosier
by SC Hoosier
Fri Feb 27, 2015 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 173
Views: 15544

Re: How much did you have saved up for retirement at age 30?

Envy is the sideways glance, looking at what someone else has, instead of looking at what you have with gratitude. Why is it that we always compare ourselves with people that have more instead of those who have less?
by SC Hoosier
Thu Feb 26, 2015 10:49 am
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 173
Views: 15544

Re: How much did you have saved up for retirement at age 30?

1) In 3 years I will be 30 and I am projecting to have ~1.25mil in combined accounts* (this was done soley by high savings rates/low expenses- no windfalls, inheritances, business sales, etc). I also found bogleheads when I was 16 or 17 so that helped a lot. 2) This amount is just enough for my ear...
by SC Hoosier
Wed Feb 25, 2015 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 58
Views: 10223

Re: Is the first 100k really the hardest?

I've often heard people say that the first 100k is the hardest...it only gets easier from here...now the magic of compounding begins, etc. I was wondering if anyone had any statistical support for this or if it's more of a cerebral victory. $100k: It took us 5 long years after graduation from May 2...
by SC Hoosier
Sat Feb 21, 2015 11:15 pm
Forum: Personal Consumer Issues
Topic: electric toothbrush
Replies: 38
Views: 2699

Re: electric toothbrush

Excellent,,,Thanks for posting :happy No problem. After all the great financial advice I have gotten on this site, it is nice to contribute to a topic I know well. I'll say it again. Floss daily and brush 2x a day. Add fluoride toothpaste and fluoride rinse and you can save lots of money on dental ...
by SC Hoosier
Sat Feb 21, 2015 8:51 pm
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 174
Views: 13412

Re: What is your favorite consumer product?

Cutco can opener. It's hard to find one that doesn't fall apart these days and Cutco's is worth the money. Buy one and enjoy it for life.

Edit: Also Lucas Fuel Treatment and Oil Stabilizer. Great stuff. Makes my baby purr.
by SC Hoosier
Thu Feb 19, 2015 10:24 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 11144

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? What makes you think that Bogle didn't do that? I'l...
by SC Hoosier
Thu Feb 19, 2015 10:16 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 11144

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Rediculous. ... Dave Ramsey has done as much for people's finances as Jack Bogle has. No that statement is ridiculous. Bogle has not taken anyone from poverty to prosperity, which Dave does daily. How can you argue against that? PS. Thanks for the correct spelling of ridiculous. ...
by SC Hoosier
Wed Feb 18, 2015 9:51 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 11144

Re: Dave Ramsey Lashes Out at His Financial Critics

Haters gotta hate. Ridiculous. We are on a forum celebrating a man that saved us 1-2% in fees every year. That is fine and Jack is great. How much do you think Dave is saving people when he motivates them to wake up from their financial stupor and get out of debt? Car payments that they cannot affor...
by SC Hoosier
Wed Feb 18, 2015 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Rookie, looking to assess my investments and my plan..thanks
Replies: 9
Views: 735

Re: Rookie, looking to assess my investments and my plan..th

If you contribute to a Roth IRA, after your house purchase, that would enable you to get money out before 59.5 without paying penalty. You can withdraw contributions at any time, tax free, because you have already paid taxes on that money. That could help you if you need it.

FYI,

Hoosier
by SC Hoosier
Wed Feb 18, 2015 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Ironic Downside to Retirement Planning
Replies: 17
Views: 3090

Re: Ironic Downside to Retirement Planning

During most of my working career, I've kept a rough estimate in my mind of when I hoped to retire. The approximate date only changed twice - first, after the 2000 tech market decline and second, after my divorce. Once the dust had settled on the divorce papers and the house was sold, I sat down to ...
by SC Hoosier
Tue Feb 10, 2015 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: How to make this fair: gifting to kids with different means
Replies: 108
Views: 9950

Re: How to make this fair: gifting to kids with different me

Lets say you want to start gifting to your kids before your death. You're a little hesitant to give too much away, though, as you're still healthy and active. If you need all your money then this all comes off the table and you spend your money! Your kids a quite different - one went in a "tra...
by SC Hoosier
Tue Feb 10, 2015 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1285

Re: [4 year update - would like another review]

Also, after contributing 6% to 401k, my next priority would be the Roths and HSA because of better investment options. Thus, I would reduce 401k contributions to 6% and focus on: 1. ESPP 2. Car 3. Roths 4. HSA 5. Some extra on the mortgage 6. 401k above 6% SC Hoosier - Just to clarify, I have the f...
by SC Hoosier
Tue Feb 10, 2015 10:11 am
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1285

Re: Guidance on Prioritization

I think I might feel a little better if I begin funding a 529 for each child with a portion of the proceeds from the ESPP cash out. Opinions on that thought are welcome. Sometimes, in an attempt to be wise, I try to do too much at once. You don't have to do it all now. Your most pressing need is a ...
by SC Hoosier
Tue Feb 10, 2015 10:04 am
Forum: Investing - Help with Personal Investments
Topic: [4 year update - would like another review]
Replies: 10
Views: 1285

Re: [4 year update - would like another review]

I would maximize the ESPP and use that money to fund an upgrade in vehicle. I disagree with many on this forum on cars. Monthly cash flow is precious. Don't fill your budget with commitments. Save up $10-15k and buy the best used vehicle you can. Cost of ownership goes way down if you do this. When ...
by SC Hoosier
Wed Jan 07, 2015 11:15 am
Forum: Personal Consumer Issues
Topic: What is the best product to clean golf clubs?
Replies: 14
Views: 1146

Re: What is the best product to clean golf clubs?

I know that a lot of people live by the club cleaner that Frogger makes (http://www.froggergolf.com/brushpro-seo/). I personally use a brush like this during rounds, and use wet towel with dish soap to clean both the heads and grips after every other round or so. Cleaning the grips definitely keeps...
by SC Hoosier
Wed Jan 07, 2015 11:08 am
Forum: Personal Consumer Issues
Topic: Transcendental meditation
Replies: 38
Views: 2612

Re: Transcendental meditation

My faith beliefs are very different from Chopra, but this is an exercise of his that I use for stress relief. https://www.youtube.com/watch?v=kWe501bBel8

It really helps with headaches. I try to do it daily. Only 15 minutes.

Hoosier
by SC Hoosier
Wed Dec 03, 2014 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding lifestyle creep
Replies: 30
Views: 5789

Re: Avoiding lifestyle creep

Thank you, everyone, for your input. We may actually allow a bit of lifestyle creep with this raise... not much, but a little. We are going to spend small amounts on things like extracurriculars for our kids (circus arts classes, drawing classes), maybe some skiing locally, more experiences now tha...
by SC Hoosier
Wed Dec 03, 2014 11:42 am
Forum: Personal Finance (Not Investing)
Topic: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fine?
Replies: 18
Views: 1569

Re: 1st Moving Violation Traffic Ticket: Lawyer Up or Pay Fi

It's different in every state. In my state, I would be more than happy to p y $400 for any chance for reductions. My son was in an accident last winter that resulted in 4 points. It's costing me $495 a year in surcharges for 6 years. Make him pay the extra. Natural consequences are the backbone of ...
by SC Hoosier
Mon Nov 24, 2014 10:28 am
Forum: Personal Consumer Issues
Topic: My grown up Christmas wish-A Warm House
Replies: 27
Views: 3762

Re: My grown up Christmas wish-A Warm House

This is why I would never buy an older house. Plumbing and efficiency issues. I don't care how good it looks or how good a deal it is. Building codes have come a long way in 100 years. Even cheaply built newer homes (mine is 2005, purchased in 2009 for $80k, 1200 sf) are built so much better than mo...
by SC Hoosier
Mon Oct 27, 2014 6:47 pm
Forum: Investing - Theory, News & General
Topic: If holding cash, do you want a Great Depression?
Replies: 50
Views: 4673

Re: If holding cash, do you want a Great Depression?

I agree with what those above are saying about global suffering, but I have had the same thought as the OP. The following is what convinced me to scrap that thought: What if the depression doesn't come in your lifetime or working years? Say you set aside $100,000 just in case the Big One hits. Inste...
by SC Hoosier
Fri Oct 17, 2014 10:04 pm
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 24408

Re: Why not 100% Stocks?

I can agree with the last three posts. I am 0% bonds and my retirement accounts are 100% equities.
by SC Hoosier
Fri Oct 17, 2014 9:18 pm
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 24408

Re: Why not 100% Stocks?

I am 100% equities. My reasons are as follows: My wife and I are under 40 with tolerance for market ups and downs. I get excited when I see red. We have no debt including our home. So our net worth is 45% home equity. Thus, in this situation, I'm not looking to temper risk. I'm looking for more risk...
by SC Hoosier
Fri Oct 17, 2014 8:37 pm
Forum: Personal Consumer Issues
Topic: Best solution for clouded auto headlight lens?
Replies: 31
Views: 3573

Re: Best solution for clouded auto headlight lens?

I just restored my headlights with this: http://smile.amazon.com/Sylvania-38771-Headlight-Restoration-Kit/dp/B00429NKWK/ref=sr_1_3?s=automotive&ie=UTF8&qid=1413058737&sr=1-3&keywords=headlamp+cleaner It worked great. The video was really helpful. It instilled some confidence. The fin...
by SC Hoosier
Mon Oct 13, 2014 10:40 pm
Forum: Personal Consumer Issues
Topic: Cleaning Up Leaves
Replies: 40
Views: 3868

Re: Cleaning Up Leaves

A little upgrade on the mulching idea. My family owned a golf course as I grew up. We mulched our leaves by taking our mowers over them often, sometimes daily. My dad made a cover for the discharge outlet on the riding mowers. This keeps the leaves under the deck longer, where the turning blades wil...
by SC Hoosier
Thu Oct 09, 2014 9:41 am
Forum: Personal Consumer Issues
Topic: Small Moneysavers Which Add Up
Replies: 74
Views: 8210

Re: Small Moneysavers Which Add Up

I buy sunglasses from the Dollar Store. This came to mind because I misplaced a pair just today. Hopefully it will turn up. If not, then I guess I'm out of a buck. I buy sunglasses by the lot on ebay. I go through a lot of them so this works best. Usually works out to $2/pair. They aren't always wh...
by SC Hoosier
Tue Sep 30, 2014 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 3079

Re: Home affordability

It doesn't seem that financial advice is what the OP is looking for here. Because I can't pay cash? That was more or less your suggestion right? No. That was not my suggestion. You could get this mortgage to be a LOT smaller if you'd focus on it for a while. 4% interest on $350k is &14,000 per ...
by SC Hoosier
Mon Sep 29, 2014 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 3079

Re: Home affordability

It doesn't seem that financial advice is what the OP is looking for here.
by SC Hoosier
Sat Sep 27, 2014 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Home affordability
Replies: 25
Views: 3079

Re: Home affordability

1) Tough it out where we are until...when? While we love the area and our house served us well until now, I can honestly say it is not the house I (nor my wife) want to live in for another 10 years. I'm almost 40 and if we are to have any hope of having our home paid for by retirement we need to ge...
by SC Hoosier
Fri Aug 22, 2014 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: convince me not to use traditional IRA for house downpayment
Replies: 23
Views: 2708

Re: convince me not to use traditional IRA for house downpay

This may draw some ire from my brethren, but the OP could stop contributing to the retirement accounts until his emergency fund is built back up again. Hopefully, even after resuming retirement contributions there will be significant margin in the budget with the new housepayment and associated cost...
by SC Hoosier
Fri Jul 04, 2014 1:46 pm
Forum: Personal Consumer Issues
Topic: Adult child @ home
Replies: 23
Views: 2306

Re: Adult child @ home

It seems to me you and your wife have very different views on parenting. There are deeper issues than merely how best to deal with your daughter. It seems fundamentally your wife is focused on setting your daughter up to succeed by removing any financial burdens and barriers, while you are more int...
by SC Hoosier
Tue Jun 24, 2014 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 665

Re: Does rental income make one eligible for Roth IRA?

bnes,

This is a question for down the road when neither of them are working. Thank you for the thought.

Hoosier
by SC Hoosier
Tue Jun 24, 2014 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 665

Re: Does rental income make one eligible for Roth IRA?

Thank you for the quick answers. I really appreciate your help. So glad to be a member of this community.

Hoosier
by SC Hoosier
Tue Jun 24, 2014 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Does rental income make one eligible for Roth IRA?
Replies: 8
Views: 665

Does rental income make one eligible for Roth IRA?

I doubt it does, but I thought I ask my very intelligent friends here at Jack's Place.

My father has farm land rental income. Can he call this self employment income on his farm and contribute to a Roth IRA?

Hoosier
by SC Hoosier
Sun Jun 08, 2014 9:51 am
Forum: Personal Finance (Not Investing)
Topic: does frugality result in lower career ambition?
Replies: 113
Views: 10181

Re: does frugality result in lower career ambition?

For me, being able to live on less has taken away some of the pressure to earn more, because I make enough to do everything I really want to do. Sure more would be nice, but I like my work and wouldn't change that to earn more. Good question.
by SC Hoosier
Wed May 28, 2014 7:48 pm
Forum: Investing - Theory, News & General
Topic: POLL: QB Aaron Rodgers disproves the EMH
Replies: 39
Views: 3833

Re: POLL: QB Aaron Rodgers disproves the EMH

I think the OP makes a good point. I disagree with in_reality. Rodgers played a position that not many teams needed that year, so his services were not as highly valued. I think another interesting point is if Rodgers had been drafted by a team other than the Green Bay Packers he may not have had th...
by SC Hoosier
Thu May 08, 2014 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Should I be worried about my girlfriend's debt?
Replies: 57
Views: 5087

Re: Should I be worried about my girlfriend's debt?

The fact that you are so concerned about this and that it definitely doesn't deter you from wanting to marry her says to me they you should definitely marry her very soon. Until then you have no right to say "we" about anything. Tie the knot, work together to scrape by until you are both w...
by SC Hoosier
Thu May 08, 2014 8:24 am
Forum: Personal Finance (Not Investing)
Topic: I like the investment strategy , not really the lifestyle
Replies: 67
Views: 6934

Re: I like the investment strategy , not really the lifestyl

Dave Ramsey suggests putting 15% of your income into retirement accounts. If you can't live content on 85% of your income, then you've got contentment issues. I focused on paying off mortgage early in life instead of investing. So now I put about 50% of my income into retirement accounts. We still h...

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