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Re: Hit your #, Still want to work, does your savings % chan

I would save at least enough to get any matching funds. Why turn down free money? :) I would save even more if your number was the minimum amount to retire. That being said, as suggested by others here I would start living life more. Take a vacation, donate more to charities you find worthy, work fe...
by Whit
Mon Apr 21, 2014 6:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hit your #, Still want to work, does your savings % change?
Replies: 47
Views: 5285

Re: Need Help with Investments

I expect with a $60,000 down payment you could beat 6% but I'm going to use it for the following computations. A 15 year mortgage ($80k) at 6% is a monthly payment of $675. You would not need mortgage insurance due to immediate equity > 20%. Add $100/mo for homeowner's insurance (probably high unle...
by Whit
Sat Apr 19, 2014 1:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help with Investments
Replies: 12
Views: 912

Re: POLL: why carry cash?

There are a few retailers in my area who charge extra to use a credit card. The retailer tacks on the usage fee separately. I get a small discount for using cash.
by Whit
Sat Apr 19, 2014 8:35 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 243
Views: 13658

Re: Need Help with Investments

One more thing... If you can really save that much per month, given what you have saved already, you could skip the mortgage and pay cash for a house in 3-4 years. A few more if you keep maxing out the Roth (this is a good idea).

Just a thought...
by Whit
Fri Apr 18, 2014 6:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help with Investments
Replies: 12
Views: 912

Re: Need Help with Investments

I could sell the jeep and save on insurance, but it sure is nice to have the option of driving instead of biking 8 miles in the rain. I too bike to work when the weather is nice. I completely understand having another option when the weather is not cooperating. In winter snow is the problem for me ...
by Whit
Fri Apr 18, 2014 6:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help with Investments
Replies: 12
Views: 912

Re: Need Help with Investments

A few quick thoughts... a. Congrats on the baby... but with baby on the way health insurance is important. b. "Debt: 4k Credit card debt at 0% APR for 6 months" --> I would have 4k ready to pay this off in 5 months. c. "I have been putting extra cash into the Balanced Index Fund as a ...
by Whit
Fri Apr 18, 2014 5:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Help with Investments
Replies: 12
Views: 912

Re: *poor* Bogleheads

However, I have come to the conclusion that perhaps there should be another main forum category for those of us that do not have a yearly income of 6 or more figures (which seems to be the norm around here). I think there are more of us here with smaller incomes and moderate means than you think. I...
by Whit
Fri Apr 18, 2014 3:36 pm
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 13211

Re: Property Taxes

It is assessed where I live.
by Whit
Thu Apr 17, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property Taxes
Replies: 6
Views: 595

Re: What is your 2013 Federal Effective Tax Rate?

I don't fit in any of the ranges.
by Whit
Wed Mar 12, 2014 10:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is your 2013 Federal Effective Tax Rate?
Replies: 72
Views: 5056

Re: Best Resources for Budgeting and Debt Reduction?

While many question his investing advice, Dave Ramseys' "Total Money Makeover" has great advice for debt reduction.
by Whit
Mon Mar 03, 2014 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Best Resources for Budgeting and Debt Reduction?
Replies: 3
Views: 163

Re: Buy different car or fix current one?

I would fix it. My response would be different if you implied that that current car was unsafe to drive in any way or would likely need major repair soon. However you seemed to think that the current car was in good running order. If you look solely at the cost for a year of usage with the two optio...
by Whit
Sat Feb 08, 2014 12:09 pm
 
Forum: Personal Consumer Issues
Topic: Buy different car or fix current one?
Replies: 7
Views: 558

Re: How much financial support should you give your kids?

Only someone who knows your children can say if a 100k gift would be a stepping stone or a stumbling block. Even if you think they would use it as a stepping stone, I personally would want to avoid gift tax. How about offering to match some/all of their long term savings (retirement/house down payme...
by Whit
Sun Feb 02, 2014 6:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much financial support should you give your kids?
Replies: 53
Views: 3357

Re: Low Income Budget

Thank you for sharing this. It is inspiring. Juniper gave you some excellent thing to think about. 1.) Do you have an emergency fund? 2.) Before you file your tax return look into the "Savers Credit". If I am reading your income correctly you could get 20% or 50% of the first $2000 you put...
by Whit
Wed Jan 29, 2014 11:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low Income Budget
Replies: 70
Views: 4706

Re: Comfort food

Ice cream when it warm outside, hot apple cider when the weather turns cold.
by Whit
Sun Dec 08, 2013 1:44 pm
 
Forum: Personal Consumer Issues
Topic: Comfort food
Replies: 68
Views: 3991

Re: Drying clothes in the sun - worth the hassle?

We line dry whenever possible, even on a sunny day in winter we will venture into the snow. :wink: Having never done it, I'm curious about 2 things: 1) Are line-dried clothes crisper/stiffer than dryer-dried clothes Not really, give them one firm shake and they are fine. Except in winter when they c...
by Whit
Wed Aug 21, 2013 7:55 pm
 
Forum: Personal Consumer Issues
Topic: Drying clothes in the sun - worth the hassle?
Replies: 86
Views: 6529

Re: Home mortgage - tax deduction

Simple test. Lets say you had your home paid off. Would you take out a loan against your house and put the money where you have it now? If no, and you have the money, pay it off.
by Whit
Thu Jul 25, 2013 9:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Home mortgage - tax deduction
Replies: 10
Views: 1135

Re: Really hard to avoid "Keeping up with the Joneses"!

Adding to this is my wife's side of the family, there are some obnoxious spenders there as well. One relative just purchased a luxury car and will not shut up about it. Did they buy that luxury car, or lease it? Having stuff is easy, just leverage yourself until your trapped. Some may find satisfac...
by Whit
Thu Jul 25, 2013 8:14 pm
 
Forum: Personal Consumer Issues
Topic: Really hard to avoid "Keeping up with the Joneses"!
Replies: 93
Views: 10154

Re: Poll: Should I pay off my student loans?

Too small to be material, pay them off and simplify your life. Invest the improved cash flow. +1 +2 +3 +(previous_count + 1) I agree. If you are not saving for retirement or had a tiny emergency fund, those should come first. But between maybe earning a few extra % in a taxable account and some mor...
by Whit
Thu Jul 25, 2013 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Should I pay off my student loans?
Replies: 14
Views: 1220

Re: What did Bogleheads do when the stock market crashed?

I had not found the Bogleheads site yet, but I was rebalancing with new contributions. I am still accumulating for a distant retirement so I was pretty confident that it would pass long before I retired. I like to think I would have done the same thing if I was much closer to retirement, and I am wi...
by Whit
Wed Jul 24, 2013 9:19 am
 
Forum: Investing - Theory, News & General
Topic: What did Bogleheads do when the stock market crashed?
Replies: 127
Views: 79982

Re: What do you wish you had learned sooner?

Thanks all! I really enjoyed reading your responses. I have learned a lot, and have even more to think about. One take away... I am going to have my students interview a variety of people in their lives from different generations, and ask this same type of question.
by Whit
Tue Jul 23, 2013 5:25 pm
 
Forum: Investing - Theory, News & General
Topic: What do you wish you had learned sooner?
Replies: 104
Views: 12710

Re: first time home buyer- warning bells?

2sls wrote:
Please help me, I want to like it, but my job is all about detecting bs and my gut feels it.



By saying "I want to like it", you are telling us you currently don't like it. If you don't like the house, look elsewhere.
by Whit
Tue Jul 23, 2013 4:23 pm
 
Forum: Personal Consumer Issues
Topic: first time home buyer- warning bells?
Replies: 23
Views: 2070

Re: What Do You Use to Track Your Credit Scores???

I don't track my credit score, I check my credit report. If my credit report has no errors, I do not care what my "score" is.
by Whit
Mon Jul 22, 2013 9:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Do You Use to Track Your Credit Scores???
Replies: 20
Views: 1277

Re: Retirement portfolio help

Need to generate $100,000 per yr in retirement which I plan to take next year at 62. With my wife's and my S.S., pension and post retirement part time work (approx $6000 yr)we will generate $60,000 per year leaving $40,000 needed from investments. Emergency fund - yes too much have 80,000 in bank S...
by Whit
Tue Jul 02, 2013 10:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement portfolio help
Replies: 5
Views: 1133

Re: [Poll] What's Your Current Mode of Camping?

I voted for tent from a car. I use to backpack, then I had kids. Maybe when they are older.
by Whit
Tue Jul 02, 2013 8:27 pm
 
Forum: Personal Consumer Issues
Topic: [Poll] What's Your Current Mode of Camping?
Replies: 93
Views: 6799

Re: What to do with small cash gift for baby

Congrats! Hope you are cherishing every milestone. Your parents gave their grandchild a $100 gift.... However, if she had an I bond or a savings account, you could easily point out that the $100 came from her grandparents who thought of her in a special way at her birth. I agree with the idea of hav...
by Whit
Sun Jun 30, 2013 8:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to do with small cash gift for baby
Replies: 14
Views: 1332

Re: What do you wish you had learned sooner?

Will your students learn how to fill out their own income tax returns? I know many teenagers whose parents do it for them. I started doing my own tax returns with my first W-2 job at age 16. For the most part yes, we will do basic 1040 returns and include schedules that students will likely use in ...
by Whit
Sat Jun 29, 2013 2:22 pm
 
Forum: Investing - Theory, News & General
Topic: What do you wish you had learned sooner?
Replies: 104
Views: 12710

What do you wish you had learned sooner?

Hello all, I'm a long time reader but i finally decided to register and ask a question. This fall I will be in a position to teach a personal finance class. As I was reading through the curriculum I started wondering if a boglehead would look back on their financial history what big idea's/concepts ...
by Whit
Sat Jun 29, 2013 11:05 am
 
Forum: Investing - Theory, News & General
Topic: What do you wish you had learned sooner?
Replies: 104
Views: 12710

Re: Wait and save more, or nab lower interest rate?

Don't try timing the market, even the housing market. Home prices could go down, or up. Anyone pretending to have a crystal ball is taking an educated guess at best. If you want to be a homeowner and can put 20% down on a house you love and the house can be bought at a good price that fits easily in...
by Whit
Thu Jun 27, 2013 11:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wait and save more, or nab lower interest rate?
Replies: 21
Views: 2100

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