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Re: If you had 1 [investing] book to recommend...

Thanks a lot guys! I'm going to research all the books in this thread and pick one from the list. :beer
by Woody999
Mon Mar 30, 2015 8:56 am
 
Forum: Investing - Help with Personal Investments
Topic: If you had 1 [investing] book to recommend...
Replies: 40
Views: 3123

Re: Apply For HELOC as Emergency Funds???

Thanks for all the replies! So if my wife and I have 1 yr in emergency funds then the HELOC would likely not be needed but if there are no fees to set one up then why not have the additional emergency fund possibility of a HELOC? If the bank does close it...ie. I lose my job then we would still have...
by Woody999
Sun Mar 29, 2015 6:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Apply For HELOC as Emergency Funds???
Replies: 21
Views: 1459

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

How do I determine how long of a term we should get for term life insurance?

Thanks!
by Woody999
Sun Mar 29, 2015 8:54 am
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance should my wife and i have???
Replies: 16
Views: 1253

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

Thanks for all the answers and helping me get this straight. Let's try again... 1. $__170k__Annual income (in dollars) that will be needed by the survivor(s) 2. $__134k__Annual income available (pension, Social Security, annuities, etc.) 3. $__36k__Annual income shortfall (#1 minus #2) 4. $__She is ...
by Woody999
Fri Mar 27, 2015 10:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance should my wife and i have???
Replies: 16
Views: 1253

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

My life ins: 1. $__160k__Annual income (in dollars) that will be needed by the survivor(s) 2. $__0__Annual income available (pension, Social Security, annuities, etc.) 3. $__160k__Annual income shortfall (#1 minus #2) 4. $__She is 33 so I would say 40 years*160k = 6.4M__Annual income shortfall multi...
by Woody999
Fri Mar 27, 2015 8:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance should my wife and i have???
Replies: 16
Views: 1253

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

I have $800k through my employer and my wife has $500k through her employer. In both cases the companies deduct the cost for our life insurance from our checks each pay period. I'm 40, she is 33 and we have a 1 year old. We owe $100k on a $450k house and have about $70k in other debt. We have about ...
by Woody999
Fri Mar 27, 2015 7:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance should my wife and i have???
Replies: 16
Views: 1253

If you had 1 [investing] book to recommend...

My wife and I aren't new to investing/retirement savings but we aren't experts either. I'm 40, she is 33 and we have a 1 year old. We owe $100k on a $450 house and have about $70k in other debt. We have about ~70k in emergency funds and about $400k in retirement savings. We have a combined salary of...
by Woody999
Fri Mar 27, 2015 7:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: If you had 1 [investing] book to recommend...
Replies: 40
Views: 3123

Apply For HELOC as Emergency Funds???

Is it a good idea to supplement emergency funds with a HELOC? Our house is worth $450k and owe $100k as of now. We have a year or more in emergency funds. Should we get a HELOC to supplement the emergency funds? If we do not plan to use it, it likely couldn't hurt, right? If so, how much should I ap...
by Woody999
Thu Mar 26, 2015 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Apply For HELOC as Emergency Funds???
Replies: 21
Views: 1459

Re: Where to put 20k for an emergency?

Thanks guys! Anyone else have any other great ideas? :beer
by Woody999
Thu Mar 26, 2015 11:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put 20k for an emergency?
Replies: 6
Views: 1015

Where to put 20k for an emergency?

So in this thread I give my portfolio... https://www.bogleheads.org/forum/viewtopic.php?f=1&t=161829 . Since 100% of my stated emergency fund was in backdoor Roth IRAs, it was advised to save somewhere in addition to lower the risk of using my IRA since I can't go back and get those again. So af...
by Woody999
Wed Mar 25, 2015 8:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put 20k for an emergency?
Replies: 6
Views: 1015

Re: Portfolio Help/Advice

Thanks for letting me know this! Do you think my asset allocation goal of 45% US stocks, 25% bonds, with 30% international is ok? If not, what changes should I make? Seems like 25% is high in bonds. In your opinion, am I in the correct funds we have to choose from? A 75/25 asset allocation with 40%...
by Woody999
Tue Mar 24, 2015 6:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help/Advice
Replies: 7
Views: 710

Re: Portfolio Help/Advice

I believe what Sawhorse is saying is that you need to focus on building an emergency fund outside of your Roth. Using your Roth IRA as an emergency fund only applies when you don't have the money to fully fund it and an EF at the same time. You can fund both and pay down loans. Just to be clear, yo...
by Woody999
Mon Mar 23, 2015 2:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help/Advice
Replies: 7
Views: 710

Re: Portfolio Help/Advice

How did you get a student loan forbearance for the last five years as you've been employed? The most striking thing is that you only have $40k in your "emergency fund" and all of it is in Roth IRAs! I personally am not opposed to using a Roth as an emergency fund when you already have a w...
by Woody999
Mon Mar 23, 2015 12:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help/Advice
Replies: 7
Views: 710

Portfolio Help/Advice

Combined Income ~$250K/yr Debt: We have a $450k house and owe $100k. We are in year 4 of a 15 year mortgage at 2.875%. We have a combined $70k in student loans ($20k at 3.125% and $50k at 4.25%). We have been in an interest only forbearance for 5 years. Let me explain this a little… My job isn't ver...
by Woody999
Mon Mar 23, 2015 7:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help/Advice
Replies: 7
Views: 710

Re: Saving to payoff the house...need suggestions

Hahahaha...I wish!

Any ideas on how to get around 2.5-3.0% with some but minimal risk?

Thanks for your help! :sharebeer
by Woody999
Sun Dec 29, 2013 2:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

I don't see the merit in paying off the mortgage. If the interest rate were far higher, yes, but at that rate (the net is presumably lower, after tax subsidies), I don't get it. If you were trying to shied liquid assets from college financial aid, it would make sense, but you don't mention that con...
by Woody999
Sun Dec 29, 2013 2:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

There's simply no way that a building savings account at .75% nearly breaks even with drastically reducing the principal on a 15 year loan at 2.875%. Even your effective interest rate is likely over double the .75% of the savings account. This is correct but I'm looking at a 21 month period not 180...
by Woody999
Sun Dec 29, 2013 2:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

It looks like you're simply looking at totals and not the compounding part of it. Your mortgage is compound interest for the mortgage company... although we've argued the simple vs. compound thing on a mortgage many times. :D But, by prepaying you are taking years of compounding away from the mortg...
by Woody999
Sun Dec 29, 2013 2:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

Note: My comparison examples use a 2 year schedule. The assignment could easily go longer if I choose to let it. Since I want to be with my family I'm going to cut it as short as possible. Therefore, I used 2 years to compare the numbers. After 2 years I plan to go home and pay off the remaining bal...
by Woody999
Sun Dec 29, 2013 1:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

I hope my math is off...in my favor of course :wink: The details get tricky but here goes... I'm currently 3 months into the assignment so I'm using 21 months to go. I also plan to fund a Roth IRA for both my wife and I for 2014 and 2015. -The initial balance is 304K -For paying off the mortgage as ...
by Woody999
Sun Dec 29, 2013 1:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

After really sharpening my pencil I have nailed down the difference in saving it in a money market at 0.75% interest and paying off the mortgage as we go. The difference is only about $4,200 and that doesn't include tax savings of not paying as we go. Saving it at 0.75% would yield ~$1600. I don't t...
by Woody999
Sun Dec 29, 2013 11:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

So if I were to save the money until I get the payoff amount in something liquid what are my choices besides...

Guaranteed not to lose options:
Savings Acct
Money Market Acct
CD

Are there any options that are not guaranteed but have little risk?

Thanks! 8-)
by Woody999
Sun Dec 29, 2013 10:04 am
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

If my calculation approximations are correct, paying it off as we go would yield a balance ~$8k lower than saving it and paying it off in the end. Saving it at 0.75% will gain about $1300 making the true difference something like $6700. :| Now I just need to decide it having it liquid along the way ...
by Woody999
Sat Dec 28, 2013 6:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

Throw it all at the mortgage as soon as possible and keep throwing money at it as it comes!! I don't see any point in "saving" to pay off debt. :confused I doubt anything "safe" out there right now beats your mortgage interest rate by enough to make it worthwhile to save up to p...
by Woody999
Sat Dec 28, 2013 2:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

Throw it all at the mortgage as soon as possible and keep throwing money at it as it comes!! I don't see any point in "saving" to pay off debt. :confused I doubt anything "safe" out there right now beats your mortgage interest rate by enough to make it worthwhile to save up to p...
by Woody999
Sat Dec 28, 2013 2:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

Paying off a house is a good idea. Having said that, I like the idea of "paying myself first" to maximize early savings to compound over time. This paying of self first entailed maximizing Roth IRA and 401Ks, then using extra to pay down highest interest rate debt first. We already max ou...
by Woody999
Sat Dec 28, 2013 1:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

From a strictly financial standpoint, paying of the mortgage as you go will likely trump saving it and paying it off as a lump sum later. I doubt you will be able to find a safe alternative with that kind of return but without the risk of a loss in principle. But personally I would be hesitant to p...
by Woody999
Sat Dec 28, 2013 1:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Saving to payoff the house...need suggestions

Throw it all at the mortgage as soon as possible and keep throwing money at it as it comes!! I don't see any point in "saving" to pay off debt. :confused I doubt anything "safe" out there right now beats your mortgage interest rate by enough to make it worthwhile to save up to p...
by Woody999
Sat Dec 28, 2013 1:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Saving to payoff the house...need suggestions

Hello everyone! :) Work has recently put me on a new out of town assignment and my salary has gone up significantly. I have $23k to start and plan to save another $5k per month until we have enough to pay our house off. We are also selling a condo worth ~100k. The amount owed on the house is ~$300k....
by Woody999
Sat Dec 28, 2013 12:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving to payoff the house...need suggestions
Replies: 38
Views: 1661

Re: Lots of trouble with turbo tax and backdoor Roth

Like Jerome99, I still don't get how to fix this issue in Turbotax. My wife and I both bought Traditional IRAs and converted then to Roth IRAs by back dooring. TurboTax still has me paying taxes on those contributions. Not sure where I'm going wrong. :(
by Woody999
Mon Feb 11, 2013 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lots of trouble with turbo tax and backdoor Roth
Replies: 18
Views: 2225

Re: Back Door Roth IRA/Distribution Code

livesoft wrote:Wasn't this discussed in this thread -> viewtopic.php?f=2&t=109062&p=1600850



Thanks...I'll take a look at that thread!
by Woody999
Sun Feb 10, 2013 7:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA/Distribution Code
Replies: 6
Views: 1513

Back Door Roth IRA/Distribution Code

In 2012 my wife and I both opened traditional IRAs with after tax money. We then back doored them into Roth IRAs due to our income levels being to high to take advantage of the traditional IRAs. The problem is I think Fidelity has the wrong distribution code on my form 1999-R. They have the code as ...
by Woody999
Sun Feb 10, 2013 6:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA/Distribution Code
Replies: 6
Views: 1513

Re: Help With Portfolio....

[OT comment removed by admin LadyGeek] I tried to follow the advice but making changes were tricky. I'm asking to make recomendations since I changed my 401K. I tried to follow Duckies advice but honeslty it got tricky so I'm not sure if I got the percentages correct. [Response to personal attack r...
by Woody999
Tue Feb 05, 2013 1:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Re: Help With Portfolio....

2. Any other recomendations? Thanks for your help!!! Ummm, your debts aren't going away. Your emergency fund is WOEFULLY underfunded (my opinion!) Between the two of you, you make plenty of $$$. With no kids, now is the time to maximize your retirement contributions (the ones that reduce your taxes...
by Woody999
Tue Feb 05, 2013 11:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Re: Help With Portfolio....

You have $400k in debt with an unstable job? If that is the case I strongly suggest you begin supplementing your emergency fund ASAP Yeah the best part is the $10k in the roths would fully cover us for 6 months. We would only have the house payment plus utilities, etc and my wife's slary would near...
by Woody999
Tue Feb 05, 2013 11:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Re: Help With Portfolio....

linuxuser wrote:A duplicate post by Woody from October 2012
viewtopic.php?f=1&t=104718&p=1519707


Our 401Ks have completely changed so I wanted another evaluation. Is this ok? If not, please delete this thread.
by Woody999
Tue Feb 05, 2013 11:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Re: Help With Portfolio....

We have been in forbearance for 3 years because we think it may not make sense to pay it off. I am not familiar with students loans. Are you saying you don't plan on repaying any of the loans? Are you able to do that? Sorry, I should have been more clear. We do plan to pay of the student loans but ...
by Woody999
Tue Feb 05, 2013 11:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Help With Portfolio....

Combined Income ~$250K/yr Debt: We have a $450k house and owe $320k. We are in year 2 of a 15 year mortgage at 2.875%. We have a combined $70k in student loans ($20k at 3.125% and $50k at 4.25%). We have been in forbearance for 3 years because we think it may not make sense to pay it off. We current...
by Woody999
Tue Feb 05, 2013 10:23 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Portfolio....
Replies: 14
Views: 649

Re: VTSMX or VTI with Fidelity?

Yes, just invest in VTI. Or you can invest in a different ETF since Fidelity has no-commission ETFs: https://www.fidelity.com/etfs/ishares such as IWV. Or you can move your Roth at Fidelity to another broker such as TDAmeritrade or Vanguard or WellsTrade that all have VTI for no-commission. Or wait...
by Woody999
Sat Nov 03, 2012 9:45 am
 
Forum: Investing - Help with Personal Investments
Topic: VTSMX or VTI with Fidelity?
Replies: 4
Views: 531

VTSMX or VTI with Fidelity?

I just opened a Fidelity Roth IRA and funded it with $5000. I was going to invest in VTSMX but there's a $75 transaction fee on top of the 0.14% Management Fee and 0.18% expense ratio. :annoyed Should I just invest in VTI instead? Or does Fidelity have a fund like VTSMX that I can invest in with onl...
by Woody999
Sat Nov 03, 2012 9:36 am
 
Forum: Investing - Help with Personal Investments
Topic: VTSMX or VTI with Fidelity?
Replies: 4
Views: 531

Re: Portfolio Help Please....

Duckie wrote:
His Roth IRA -- 2.5%
2.5% Vanguard Total Stock Market

Her Roth IRA -- 2.5%
2.5% Vanguard Total Stock Market


What is the symbol for the Vanguard Total Stock Market? Thanks!
by Woody999
Wed Oct 24, 2012 8:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Re: Portfolio Help Please....

Duckie, I just rolled in my rollover IRA to his 401k to allow me to contribute to a traditional IRA so I could backdoor it into a Roth IRA. Now the rolled in amount went into the Spartan Ext Market Index Fund and I didn't realize it had a short term trading fee. So the bottom line is what should I ...
by Woody999
Wed Oct 24, 2012 8:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Re: Portfolio Help Please....

If I went to 25% bonds what would change Duckie? Thanks for the advice!
by Woody999
Wed Oct 24, 2012 7:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Re: Portfolio Help Please....

pingo wrote:The missing link of information is what TFs Her 401k offers.


Sorry I don't know what TF's are...
by Woody999
Wed Oct 24, 2012 6:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Re: Portfolio Help Please....

Duckie, I just rolled in my rollover IRA to his 401k to allow me to contribute to a traditional IRA so I could backdoor it into a Roth IRA. Now the rolled in amount went into the Spartan Ext Market Index Fund and I didn't realize it had a short term trading fee. So the bottom line is what should I d...
by Woody999
Wed Oct 24, 2012 6:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Portfolio Help Please....

Combined Income ~$250K/yr Debt: We have a $450k house and owe $320k. We are in year 1 of a 15 year mortgage at 2.875%. We have a combined $70k in student loans ($20k at 3.125% and $50k at 4.25%). We have been in forbearance for 3 years because we think it may not make sense to pay it off. We current...
by Woody999
Wed Oct 24, 2012 3:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Help Please....
Replies: 13
Views: 787

Opening IRAs for my wife and I...which company?

My wife and I are opening IRAs for both of us ($5K each). Our 401Ks are both with Fidelity. I was thinking about opening the IRAs with Fidelity but wanted to ask you guys and gals about this first. Which is the best company to open IRAs with and why? We plan to invest in index funds. Thanks for your...
by Woody999
Wed Oct 17, 2012 8:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Opening IRAs for my wife and I...which company?
Replies: 13
Views: 983

Re: IRA (ETFs vs Index Funds)

Isn't ETF vs index fund the same thing? I'm not interest in a non index mutual fund.

Thanks!
by Woody999
Thu Oct 11, 2012 12:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA (ETFs vs Index Funds)
Replies: 10
Views: 670

Re: IRA (ETFs vs Index Funds)

It will be 5k for my wife and 5k for me.
by Woody999
Thu Oct 11, 2012 12:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA (ETFs vs Index Funds)
Replies: 10
Views: 670

Re: IRA (ETFs vs Index Funds)

Thanks! I was just using those as examples...I'm not going to do the nasdaq.

Anyone else?

Thanks guys...and gals :)
by Woody999
Thu Oct 11, 2012 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: IRA (ETFs vs Index Funds)
Replies: 10
Views: 670
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