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Re: How much life insurance should my wife and i have???

It would be good to get some quotes on term insurance since it might not only be less expensive, but you could keep it if you change jobs. The annual income that you would be missing out on if one of you died would be based on how long until you will likely be working before you plan on being able t...
by Watty
Fri Mar 27, 2015 8:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance should my wife and i have???
Replies: 9
Views: 229

Re: Mortgage Debt in Retirement?

Other people may be in different situations but for me the deciding factors on wanting a paid off house are; 1) I will likely be in an income range where each extra dollar of taxable income will cause more of my social security to be taxed. Without a mortgage I will be able to structure my taxable i...
by Watty
Fri Mar 27, 2015 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Debt in Retirement?
Replies: 42
Views: 1897

Re: Can I Afford This House?

On your list of monthly expenses you need to add; income taxes, FICA taxes, and medical expenses including any insurance costs you pay, and saving up money to buy your next cars. We're both early 30s. She owns a business that currently makes very little (but doesn't lose anything significant either)...
by Watty
Thu Mar 26, 2015 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I Afford This House?
Replies: 13
Views: 1133

Re: Building a new house. Any recommendations?

Make sure that the house is OK for a wheelchair even if it is not ideal. Even if you don't plan on being there when you are older I have known people that were younger and had limited mobility for the better part of year after a car accident.
by Watty
Wed Mar 25, 2015 9:32 pm
 
Forum: Personal Consumer Issues
Topic: Building a new house. Any recommendations?
Replies: 40
Views: 2889

Re: Should I accept this Job Offer ?

I am not vesting in company pension or participating , 1 year of service is required and I am only at 10 months. ..... on the other hand I feel that a promotion at my current company would be slow to materialize due to bureaucratic policies. I would think that since you were already interviewing af...
by Watty
Wed Mar 25, 2015 9:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I accept this Job Offer ?
Replies: 20
Views: 1550

Re: Painting Cabinets and Trim

I don't know about all the trim but to me painted kitchen cabinets often looks someone did a cheap remodel(like house flippers) and would not pay to redo the kitchen right. It would be good to ask a real estate agent what painting the kitchen cabinets would do to the value of your house, it could be...
by Watty
Wed Mar 25, 2015 8:53 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 25
Views: 1688

Re: Employer offering first 401k--lemonade out of lemons?

These three funds are sufficient for a three-fund portfolio: http://www.bogleheads.org/wiki/Three-fund_portfolio +1 Some people would really like to have those choices. If you look at the history column compared to the benchmark the line below it the difference in the numbers is just about the same...
by Watty
Tue Mar 24, 2015 8:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Employer offering first 401k--lemonade out of lemons?
Replies: 21
Views: 1817

Re: repair or replace old car?

repair or replace old car? Both is an option. With 200K miles on the car it is getting near the end of its useful life unless you can do most of the work on the car yourself and you enjoy working on cars. An advantage of getting it fixed is that you can take your time on finding a replacement car t...
by Watty
Tue Mar 24, 2015 7:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: repair or replace old car?
Replies: 22
Views: 1955

Re: Bad 401(k) - advice

by Grogs » Tue Mar 24, 2015 7:06 pm rbaldini wrote: My current plan is to inform her to open an IRA (prob Roth), and maximize contributions to that, and only put remaining retirement contributions into the 401(k). Is that reasonable? Sounds reasonable to me. Without a match, the only attractiveness...
by Watty
Tue Mar 24, 2015 7:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bad 401(k) - advice
Replies: 12
Views: 1081

Re: What do you think of storage sheds as an investment?

I saw an ad in the real estate guide where someone is looking to sell their storage sheds (25 of them, 10x12) for about 75K. This is the price of a small house in town. Since it is an existing business you should be able to review their books for at least the last several years to get a detailed lo...
by Watty
Tue Mar 24, 2015 7:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: What do you think of storage sheds as an investment?
Replies: 33
Views: 2739

Re: Sell farmland or keep?

If you inherited cash I doubt that you would even consider buying the land. If you sold it you could pay off your mortgage and student loan and then save the mortgage and loan payment each month and likely get a lot more than the income from the land, especially since you would pay taxes on the inco...
by Watty
Mon Mar 23, 2015 8:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sell farmland or keep?
Replies: 16
Views: 1382

Re: 15 vs 30 yr mortgage

What am I missing? Are the assumed rates of return unreasonable? Please help me make a CONFIDENT decision. One thing I have not seen mentioned is that you should be able to put your numbers into Firecalc on one the other online simulators. These are most often used for retirement planning but you c...
by Watty
Mon Mar 23, 2015 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 vs 30 yr mortgage
Replies: 80
Views: 5751

Re: 15 vs 30 yr mortgage

Goble, Run your numbers throught mortgage amortization table,,look at the amount of Interest you will be paying over 30yrs compared to 15 :happy http://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx 97k vs 208k in total interest paid for 15 vs 30 yr term respectively. That over...
by Watty
Sun Mar 22, 2015 9:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 vs 30 yr mortgage
Replies: 80
Views: 5751

Re: Refinance Now? PenFed ARM?

We are greater than 80% LTV, ..... My current mortgage is 20 yr fixed at 5.75%, been in the house for a little over 1.5 years. You current mortgage rate is pretty high for having gotten it a 1.5 years ago. If you have issues with your credit score you may find that your refinancing options are limi...
by Watty
Sun Mar 22, 2015 8:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Refinance Now? PenFed ARM?
Replies: 9
Views: 1043

Re: 15 vs 30 yr mortgage

Please let me know what other relevant information is needed to help answer these questions. Your age would help since there is a lot to be said for having a paid off by the time you retire. If you would be able to max out your(and any spouses) retirement accounts while making the larger 15 year mo...
by Watty
Sun Mar 22, 2015 7:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 vs 30 yr mortgage
Replies: 80
Views: 5751

Re: Who should be concerned?

The target date funds probably should not be expected to have a static strategy that can be charted out for decades in the future so periodic changes from time to time are reasonable as their assessment of the situation changes. While some of them only invest in index funds there is still an element...
by Watty
Sun Mar 22, 2015 6:09 pm
 
Forum: Investing - Theory, News & General
Topic: International increase in Target Retirement & LifeStrategy
Replies: 219
Views: 17191

Re: Should I invest my emergency fund?

How to invest the emergency fund is really just a detail, the important things are; 1) That you have an emergency fund. 2) That you distinguish between an emergency and an unpredictable expense. Something like an expensive car repair, doctor bill, or having a tree removed after a storm is not an eme...
by Watty
Sun Mar 22, 2015 5:50 pm
 
Forum: Investing - Theory, News & General
Topic: Should I invest my emergency fund?
Replies: 71
Views: 5930

Re: Urgent Care Centers - When should they be used?

Around here if you go to the emergency room with something that does not seem very serious then you can end up waiting hours to see someone. Being stuck in the ER waiting room with a lot of other sick people is a a good way to catch whatever they have, especially during the flu season. I have seen U...
by Watty
Sun Mar 22, 2015 12:34 pm
 
Forum: Personal Consumer Issues
Topic: Urgent Care Centers - When should they be used?
Replies: 45
Views: 3594

Re: Percent of gross income on hobbies

but ones worthy of being passed down to future generations. The odds of any future generation being interested in your hobby is pretty small, and even if they are some grand-kid that like the collection might need to sell in order to raise money for some valid expense like a down payment on a house...
by Watty
Sun Mar 22, 2015 12:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Percent of gross income on hobbies
Replies: 26
Views: 2612

Re: External Hard Drive?

If your drive is already flaky make a backup NOW even if that means buying an external drive locally for a few bucks more instead of ordering it on line. You are already on borrowed time. Thanks for the great responses everyone! I'm leaning toward a 1 TB WD Elements or 1 TB Seagate Backup Plus Slim,...
by Watty
Sun Mar 22, 2015 11:38 am
 
Forum: Personal Consumer Issues
Topic: External Hard Drive?
Replies: 44
Views: 2294

Re: refinance or pay down mortgage?

Be sure to also check out the numbers on the PenFed 5/5 ARM. The loan costs on that may be lower but they often change their promotions. That is what I am using to get my mortgage paid off in less than about seven years. If the rate goes up at the end of five years that will not make much difference...
by Watty
Sat Mar 21, 2015 4:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: refinance or pay down mortgage?
Replies: 14
Views: 1461

Re: should convert from normal to roth now?

If you are in a very low tax bracket, say 15%, Roth is a pretty good bet because you are not likely to ever be in a lower bracket than 15%. It would be good to look your actual numbers. If you look at tax caster for a couple that is over 65 that has $35K in social security and $30K in taxable incom...
by Watty
Sat Mar 21, 2015 3:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: should convert from normal to roth now?
Replies: 9
Views: 636

Re: should convert from normal to roth now?

Am I right? but what are other considerations? It varies with your situation but my big considerations are; 1) How my social security is taxed may put me in a higher effective marginal tax bracket. 2) Once I have my house paid off(no mortgage payment), no FICA taxes, no child rearing and college co...
by Watty
Sat Mar 21, 2015 3:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: should convert from normal to roth now?
Replies: 9
Views: 636

Re: Hearse as daily driver?

My father in law had a surplus Cadillac ambulance back in the 1980's that he used as his fishing and camping car instead of an RV. It was not as curved as the Ghostbusters one so it did not look as neat but it worked well for him for many years. As I understand it back then the hearses and ambulance...
by Watty
Fri Mar 20, 2015 5:57 pm
 
Forum: Personal Consumer Issues
Topic: Hearse as daily driver?
Replies: 58
Views: 3595

Re: Any situations car leasing makes sense?

I don't know enough about accounting to know the details but it is my understanding that for a business(or a self employed person) there can be a tax advantages to leasing compared to buying. For someone that had a temporary longer term need for a car, like someone from overseas working in the US fo...
by Watty
Fri Mar 20, 2015 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any situations car leasing makes sense?
Replies: 63
Views: 4946

Re: Can we afford a condo?

both 56, ..... Social Security - I will defer till age 70, spouse will likely collect spousal benefits @ my FRA - total est combined approx $50K/year ( not sure of % taxed but, could be heavily taxed!) yearly expenses (not counting health insurance/daughter's college expenses) - $84,000 proposed pu...
by Watty
Fri Mar 20, 2015 3:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can we afford a condo?
Replies: 16
Views: 1930

Re: Children's Swingset

One option to keep in mind is that if you build a kids clubhouse as part of the setup is that if you select/design it right it can eventually be used as a garden shed when the kids outgrow it.
by Watty
Fri Mar 20, 2015 12:05 pm
 
Forum: Personal Consumer Issues
Topic: Children's Swingset
Replies: 43
Views: 2554

Re: New vs used cars

You also aren't accounting for the additional maintenance on the used car. Buy a new car and keep it for 10 years versus a used for 10 years - a lot more maintenance $$ spent on the used. If the used car is two years old and you keep it for eight years, until it is 10 years old, then the expected m...
by Watty
Fri Mar 20, 2015 11:51 am
 
Forum: Personal Consumer Issues
Topic: New vs used cars
Replies: 39
Views: 2610

Re: New vs used cars

I think you missed a couple of things. 1) With the new car you would have next to zero non-routine maintenance costs so you should subtract that out from the total costs. A two or thee year old cars is likely just about due for new tires too. 2) The different model years may not be identical since t...
by Watty
Fri Mar 20, 2015 11:48 am
 
Forum: Personal Consumer Issues
Topic: New vs used cars
Replies: 39
Views: 2610

Re: master bath remodel: return on investment?

edge wrote:I wouldn't do it if it was 10% of the house value unless there was something seriously wrong with the existing bath.


+1

Since the current bathroom sounds functional that would likely be over improving the house for the neighborhood even at half the price.
by Watty
Fri Mar 20, 2015 11:20 am
 
Forum: Personal Finance (Not Investing)
Topic: master bath remodel: return on investment?
Replies: 42
Views: 2806

Re: helping adult children with house downpayment

I'm not a tax pro but it would be good to look into giving him appreciated stock instead of cash if he is in a lot lower tax bracket than you.
by Watty
Thu Mar 19, 2015 6:49 pm
 
Forum: Investing - Theory, News & General
Topic: helping adult children with house downpayment
Replies: 30
Views: 2648

Re: master bath remodel: return on investment?

One thing I have not seen mentioned is the remodeling cost relative to the price of the house. Putting $35K into a million dollar house is a lot different than putting that much into a $350K house.
by Watty
Thu Mar 19, 2015 6:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: master bath remodel: return on investment?
Replies: 42
Views: 2806

Re: Cooking: Refreezing Turkey Stock?

The advice of seasoned cooks would be appreciated. Next time freeze it in smaller containers so you can just thaw out what you need. There is very little upside to taking any risks with food. Not only could it make you, and your family and friends, sick if something goes wrong, but even if you don'...
by Watty
Thu Mar 19, 2015 3:40 pm
 
Forum: Personal Consumer Issues
Topic: Cooking: Refreezing Turkey Stock?
Replies: 8
Views: 492

Re: how much mortgage would you be comfortable with?

Meanwhile, in this high COL area, housing prices are essentially always rising. Thus our "ability" to buy decreases every year we wait. Most places with expensive houses have also gone through periodic declines too. If your careers stay on track then you will always have the ability to bu...
by Watty
Wed Mar 18, 2015 10:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: how much mortgage would you be comfortable with?
Replies: 43
Views: 4146

Re: Ed Jones Dilema

If these are in a taxable account then the capital gains taxes also need to be considered. If moving them to a more ideal investment would cost a lot of taxes then it very will could be best to just leave the money invested in the funds. It will take some research to find out just want the tax impli...
by Watty
Wed Mar 18, 2015 10:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Ed Jones Dilemma
Replies: 2
Views: 619

Re: master bath remodel: return on investment?

In valuing the improvement it would be good to take out the appraisal that you had done when you bought the house and then look at it closely to see if the appraiser took off anything in the appraisal for having an undesirable bathroom. If not then you may not improve the value of the house very muc...
by Watty
Wed Mar 18, 2015 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: master bath remodel: return on investment?
Replies: 42
Views: 2806

Re: Previous Home- Now a Rental Property

I will rake in profits tax free approx 300K as per tax laws, That is a lot. If you have a burning desire to be a landlord you could sell that house then buy a different property. A.I get 500K i can reduce mortgage on my current primary home which is jumbo - so it will become conforming and may be i...
by Watty
Wed Mar 18, 2015 9:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Previous Home- Now a Rental Property
Replies: 13
Views: 1332

Re: Costco optical

I have a vision insurance plan through my employer and Costco does said they do not work with insurances. I think I can submit a claim, but it would only be partially covered. I found out that even though all of this is the case, they are generally going to be cheaper than most places. Mike They we...
by Watty
Wed Mar 18, 2015 8:46 pm
 
Forum: Personal Consumer Issues
Topic: Costco optical
Replies: 30
Views: 3157

Re: Negotiate daycare rate?

Asking for a discount could result in the spot suddenly not being available so there would be some risk in that.

jimday1982 wrote: I have the feeling that they're in a bit of a tight spot since they can't fill the opening from their waiting list .....


Why can't they fill the spot from their waiting list?
by Watty
Tue Mar 17, 2015 7:09 pm
 
Forum: Personal Consumer Issues
Topic: Negotiate daycare rate?
Replies: 24
Views: 2124

Re: House Foundation Cracks, No big deal or RUN!

Then it came time to sell and the foundation issue would always come up with prospective buyers. It would scare some of them off despite having all the reports stating that the foundation was fixed. +1 In many areas the housing market for sellers is very strong right now so being able to sell a hou...
by Watty
Tue Mar 17, 2015 6:00 pm
 
Forum: Personal Consumer Issues
Topic: House Foundation Cracks, No big deal or RUN!
Replies: 24
Views: 2763

Re: Is a larger home downpayment worth it?

I would also look at how much of your net worth would be in home equity. I don't know where I would draw the line but having more than 50% of my new worth in home equity with a 20% downpayment would make be cautious about making a higher downpayment. If there is a 90% chance of selling at ~12-15 yea...
by Watty
Tue Mar 17, 2015 5:49 pm
 
Forum: Personal Consumer Issues
Topic: Is a larger home downpayment worth it?
Replies: 18
Views: 2330

Re: Is There a Next Jack Bogle

There might not be a need for another Jack Bogle. Part of his success with the once radical idea of low cost index funds, is that it has now pretty much become part of conventional wisdom.
by Watty
Mon Mar 16, 2015 10:34 pm
 
Forum: Investing - Theory, News & General
Topic: Is There a Next Jack Bogle
Replies: 37
Views: 3806

Re: Best investment in a deflationary scenario

A well diversified portfolio would likely be best since there is no way of knowing in advance how the deflation will play out , or if it will even happen.
by Watty
Mon Mar 16, 2015 10:23 pm
 
Forum: Investing - Theory, News & General
Topic: Best investment in a deflationary scenario
Replies: 11
Views: 1295

Re: Advice on guiding an hour discussion with military

Engineer wrote:Give them all free memberships to the Bogleheads Forum!

Encourage them to join and send their questions.

Engineer


If you have a budget for it or want to donate a copy then you might give a copy of the Bogleheads Guide to Investing as a door prize.
by Watty
Mon Mar 16, 2015 10:17 pm
 
Forum: Investing - Theory, News & General
Topic: Advice on guiding an hour discussion with military
Replies: 35
Views: 1923

Re: One Level or Two Level House

Perhaps there are issues I have not thought about. Heating and cooling a two story house can be challenging since heat rises. You might be able to close off a few rooms but most likely you would need to keep the upstairs heated or cooled just to keep the rest of the house comfortable. You may need ...
by Watty
Mon Mar 16, 2015 10:03 pm
 
Forum: Personal Consumer Issues
Topic: One Level or Two Level House
Replies: 68
Views: 5560

Re: Portland transportation

if I can get without the car rental for a few days in the city. Can and should are two different questions. Outside of the downtown area parking is usually free or very inexpensive and you can cut your travel time a lot to make the most of your limited time there. There is also a lot to see, like t...
by Watty
Mon Mar 16, 2015 5:00 pm
 
Forum: Personal Consumer Issues
Topic: Portland transportation
Replies: 19
Views: 1633

Re: Cleaning my back yard?

Forget the pressure washer or bleach! Try "Wet & Forget" -- I love this stuff and it's so easy to apply. Just spray it on and no scrubbing. :beer You can get it at Costco. http://wetandforget.com/product_wet_and_forget_outdoor.html +1 Read the directions and it can take a a couple of ...
by Watty
Sun Mar 15, 2015 7:58 pm
 
Forum: Personal Consumer Issues
Topic: Cleaning my back yard?
Replies: 35
Views: 3772

Re: Cruise.Com Bait and Switch Tactics

I've booked a cruise on Vacations To Go and there were no unexpected charges or attempts for get us to upgrade. You might check them out.
by Watty
Sun Mar 15, 2015 7:28 pm
 
Forum: Personal Consumer Issues
Topic: Cruise.Com Bait and Switch Tactics
Replies: 28
Views: 2935

Re: 401K leaving employer

Why then, besides creditor protection, would one not roll to an IRA? Two things not mentioned, I have had employers change 401k providers for the worse so rolling it out would help avoid that. If it is an old 401k that pre-dates a marriage then rolling the money out to an IRA could mix it with post...
by Watty
Sun Mar 15, 2015 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401K leaving employer
Replies: 25
Views: 1854

Re: Buying Semi-new House Near New Street with New Construct

Hi, Are there any thoughts (in terms of purchase price and eventual resale value) on buying a fairly new house (5-10 years old) that is located next to a brand new street full of partially completed new houses? Thanks! It is probably better now than a couple of years ago when the land was undevelop...
by Watty
Sun Mar 15, 2015 5:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying Semi-new House Near New Street with New Constructions
Replies: 3
Views: 344
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