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Re: Mortgage Prepayment Question

[...]jimb That was very verbose, but I am still not sure who is saying what. I know what my bank does, and it was not what I thought it did. To reiterate: Let's say my balance on 6/15 is $100k. If I make a payment against the principal on 6/29 that lowers my principal to $90k, the interest that is ...
by an_asker
Fri Jul 25, 2014 1:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 41
Views: 2611

Re: Riding the Rails--my Amtrak trip

It's Friday, July 25. 5:07 am, and we're departing Cincinnati about 90 minutes late. In the end, it did not make much difference whether the train left on time (3:27am) or not--it's still the middle of the night and one still has to get to the station at at a crazy hour. The taxi cost me $41 includ...
by an_asker
Fri Jul 25, 2014 11:17 am
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 51
Views: 5225

Re: Mortgage Prepayment Question

Your payment was probably received near the end of the statement period. For most of the month, interest accrued based on the higher balance. Next month, I think you'll see a much smaller allocation to interest. The portion in bold is not correct. As Twins Fan corrected me on a different thread, ev...
by an_asker
Fri Jul 25, 2014 10:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 41
Views: 2611

Re: Here's another "where should I retire" thread

Last year, at a reunion, I ran into one of my classmates who retired a couple of years back after selling a couple of companies. When we talked, his family had been living in Guatemala for a couple of years; they were planning to move to France in the next couple of months for (yes) a couple of year...
by an_asker
Thu Jul 24, 2014 2:18 pm
 
Forum: Personal Consumer Issues
Topic: Here's another "where should I retire" thread
Replies: 104
Views: 6165

Re: Best High-Yield Savings Acct?

My credit union pays 1.25%, no strings. I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account. I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join. :wink: Care t...
by an_asker
Thu Jul 24, 2014 9:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Best High-Yield Savings Acct?
Replies: 16
Views: 1535

Re: Dumb 3rd grade math question about beach house rental

Slightly off-topic, because it doesn't address the original question of unequal-length stays, but the idea of figuring out a fair price for unequal rooms is interestingly a solved problem. See http://www.washingtonpost.com/blogs/wonkblog/wp/2013/08/24/dear-dylan-handling-group-house-drama/ . You ap...
by an_asker
Wed Jul 23, 2014 4:31 pm
 
Forum: Personal Consumer Issues
Topic: Dumb 3rd grade math question about beach house rental
Replies: 60
Views: 4499

Re: Best High-Yield Savings Acct?

Why don't you go with Uncle Sam? The I-bond currently yields 1.94% and you don't pay taxes until you redeem them. I may be wrong, but from your post it does not look like you might hit the annual purchase limit (and if you will, you could still buy up to that limit!).
by an_asker
Wed Jul 23, 2014 2:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best High-Yield Savings Acct?
Replies: 16
Views: 1535

Re: A case against Index Funds in India

The CNX 500 is India’s first broad based benchmark of the Indian capital market. The CNX 500 Index represents about 97.00% of the free float market capitalization of the stocks listed on NSE as on March 31, 2014. That's how I'd lean. Not saying that fund -- maybe too high an ER, but something like ...
by an_asker
Wed Jul 23, 2014 2:10 pm
 
Forum: Investing - Theory, News & General
Topic: A case against Index Funds in India
Replies: 32
Views: 1704

Re: Defining what an expense ratio means for individuals

Vanguard has super-low expense ratios on their index funds because they are a not-for-profit company --the only not-for-profit mutual fund company.[...] Paul I agree with everything else you say but disagree with the above. I could create my own not-for-profit mutual fund company and pay each of my...
by an_asker
Wed Jul 23, 2014 1:03 pm
 
Forum: Investing - Theory, News & General
Topic: Defining what an expense ratio means for individuals
Replies: 26
Views: 1434

Re: Defining what an expense ratio means for individuals

Would it be considered a rip off if they just took 1% of the principal every time you bought funds and does any company use this kind of model? Forty years ago an investment in TIAA Traditional was subject to a 3.5% charge (to cover expenses and contingencies during the lifetime of the contract) an...
by an_asker
Wed Jul 23, 2014 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: Defining what an expense ratio means for individuals
Replies: 26
Views: 1434

Re: Mortgage Prepayment Question

Your payment was probably received near the end of the statement period. For most of the month, interest accrued based on the higher balance. Next month, I think you'll see a much smaller allocation to interest. The portion in bold is not correct. As Twins Fan corrected me on a different thread, ev...
by an_asker
Wed Jul 23, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 41
Views: 2611

Do you own a DOW30 or NASDAQ100 index fund?

A follow up to a parallel thread (not mine) about Index funds in India.

I am trying to learn what most folks believe is a critical mass of the number of companies in an Index Fund for it to be worth buying (if other alternatives are available).
by an_asker
Wed Jul 23, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Do you own a DOW30 or NASDAQ100 index fund?
Replies: 14
Views: 749

Re: Mortgage Prepayment Question

Your payment was probably received near the end of the statement period. For most of the month, interest accrued based on the higher balance. Next month, I think you'll see a much smaller allocation to interest. The portion in bold is not correct. As Twins Fan corrected me on a different thread, ev...
by an_asker
Wed Jul 23, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 41
Views: 2611

Re: A case against Index Funds in India

I don't really see any of these arguments as convincing enough to even need refutation. Indexing works. The data says it works. It doesn't even matter WHY it works. Let me put my sscritic hat on: Will indexing work if the indexes are modified every month? Every day? Every hour? Maybe, I don't know....
by an_asker
Wed Jul 23, 2014 10:33 am
 
Forum: Investing - Theory, News & General
Topic: A case against Index Funds in India
Replies: 32
Views: 1704

Re: Dumb 3rd grade math question about beach house rental

10/28 + 10/28 +8/28 = $10,000 you can take it from there I'm sure you are right that it will be a third each, after discussion. Kevin This is also the approach I'd use. Put another way $10,000 / 28 nights = $357.14 per night. Rounded to nearest half dollar: 8 * $357.14 = $2,857 10 * $357.14 = $3,57...
by an_asker
Wed Jul 23, 2014 10:30 am
 
Forum: Personal Consumer Issues
Topic: Dumb 3rd grade math question about beach house rental
Replies: 60
Views: 4499

Re: A case against Index Funds in India

KyleAAA wrote:I don't really see any of these arguments as convincing enough to even need refutation. Indexing works. The data says it works. It doesn't even matter WHY it works.

Let me put my sscritic hat on:

Will indexing work if the indexes are modified every month? Every day? Every hour?
by an_asker
Wed Jul 23, 2014 10:21 am
 
Forum: Investing - Theory, News & General
Topic: A case against Index Funds in India
Replies: 32
Views: 1704

Re: A case against Index Funds in India

Hi, I am very new to investing. I am trying to help my parents in India get into stock investments as part of their portfolio. Currently, most of their assets are in real estate, gold or cash. While searching for Index Fund options in India, I came across this article. http://www.safalniveshak.com/...
by an_asker
Wed Jul 23, 2014 9:50 am
 
Forum: Investing - Theory, News & General
Topic: A case against Index Funds in India
Replies: 32
Views: 1704

Re: Just retired...any reason to move 401K to IRA?

What about costs? Do you know absolutely for sure what your expenses for hold those funds in your 401(k) are, compared to in a rollover IRA? This is a very good point that everyone should take seriously. Perhaps it's easier to check now, but some years ago I went to the point of zeroing out my cont...
by an_asker
Fri Jul 18, 2014 1:04 pm
 
Forum: Investing - Theory, News & General
Topic: Just retired...any reason to move 401K to IRA?
Replies: 50
Views: 4945

Re: 401(k) moving - what should I do?

DSInvestor: That is option a) not d) :-) If I do nothing, it moves to Vanguard. Like I mentioned, even if it has the same options with the same ERs, I am now loaded with the plan participant fee which in my case will add about 0.15% to the ER. What DSInvestor meant by option d) is this: You're talk...
by an_asker
Fri Jul 18, 2014 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) moving - what should I do?
Replies: 20
Views: 1210

Re: Can't decide to keep 401k with previous employer or move

If you have similarly good fund choices in the new 401k, then my vote is 2 - roll over to the new employer 401k. It will simplify things to have fewer accounts, as long as you keep access to the institutional shares. I did list them near the bottom. They aren't quite as good ERs as the Vanguard ins...
by an_asker
Fri Jul 18, 2014 9:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Can't decide to keep 401k with previous employer or move
Replies: 32
Views: 2664

Re: Is this realtor lying to me?

The appraisal will be used as the loan basis. Different loans require different down payments, ranges I know about are 95%, 80% and 70% for residential and condo. An appraisal requirement written into a purchase contract is pretty common when a mortgage will be obtained. With 50% cash down I can't ...
by an_asker
Thu Jul 17, 2014 12:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this realtor lying to me?
Replies: 27
Views: 3345

Re: "Stocks and shares," different things? "Peter Pan"

If you share your stock, who will keep stock of your shares? ;-)
by an_asker
Thu Jul 17, 2014 9:07 am
 
Forum: Investing - Theory, News & General
Topic: "Stocks and shares," different things? "Peter Pan"
Replies: 39
Views: 2828

Re: Can't decide to keep 401k with previous employer or move

An unsolicited suggestion: If you have the six-month emergency fund but your current plans are not to fill your Roth IRA bucket for 2014, I suggest that you move the $3k from that fund into your Roth IRA (2014) to take it from $8k to $11k. Should you need that money for any unforeseen event, you can...
by an_asker
Thu Jul 17, 2014 8:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Can't decide to keep 401k with previous employer or move
Replies: 32
Views: 2664

Re: what is "at-cost investing" ?

While I respect the Johnson family of Fidelity, the Schwab family of Charles Schwab, and most of all, John Bogle of Vanguard; only one of them is not a multi billionaire. Guess which one. Vanguard does pay it's top people well, but none are billionaires. That money comes from somewhere - and genera...
by an_asker
Wed Jul 16, 2014 4:42 pm
 
Forum: Investing - Theory, News & General
Topic: what is "at-cost investing" ?
Replies: 8
Views: 1347

Re: Snake!

jeff1949 wrote:
user5027 wrote:I though this thread was going to be about a financial advisor. :oops:


No, that would be a snake oil salesman.

:sharebeer

ambulance : ambulance chaser :: snake : snake oil salesman ;-)
by an_asker
Wed Jul 16, 2014 4:16 pm
 
Forum: Personal Consumer Issues
Topic: Snake!
Replies: 51
Views: 4193

Re: Company just offered a Roth 401K option. Should I use i

Well, it depends on how much you've saved and how much you will withdraw in retirement. Unfortunately or fortunately, I have not bothered figuring out what my withdrawal rate would be like in retirement. But look at it this way, a current retiree can withdraw nearly $100,000 per year and still stay...
by an_asker
Tue Jul 15, 2014 4:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company just offered a Roth 401K option. Should I use it??
Replies: 20
Views: 1186

Re: Withdraw from 529 or FL Prepaid for tuition by grandpare

[...]he is going to college not a university and his prepaid plan covers university prices so he should have excess funds. He is hoping to go to a university in 1 or 2 years when his GPA is better. I am unsure if this can be done. Best thing to do would be to call the Prepaid Plan folks and act bas...
by an_asker
Tue Jul 15, 2014 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Withdraw from 529 or FL Prepaid for tuition by grandparent
Replies: 3
Views: 416

Re: O Canada! Questions about traveling to Canada :-)

We did a similar trip a couple of years ago. We liked Niagara-on-the lake. It was a quaint little town within an easy drive from Niagara Falls. There are wineries you can visit along way. We also enjoyed the butterfly conservatory. I think most kids will like it. There aren't too many toll roads in...
by an_asker
Tue Jul 15, 2014 2:27 pm
 
Forum: Personal Consumer Issues
Topic: O Canada! Questions about traveling to Canada :-)
Replies: 28
Views: 2644

Re: Company just offered a Roth 401K option. Should I use i

Some of this is a bit surprising to me. I've been told that since I'll likely have a good deal of money in my retirement accounts when I retire, I should use the Roth option for both IRA and 401k. Some of you seem to indicate that you wouldn't advise this. I max out my Roth IRA and Roth 401k now. T...
by an_asker
Tue Jul 15, 2014 1:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company just offered a Roth 401K option. Should I use it??
Replies: 20
Views: 1186

Re: Did I make out like a bandit - interest (not Sallie Mae)

They also want their interest at the front end. Buy a house in the middle of the month. You will prepay one and a half months interest up to the first of a month (typically). Your first payment will be due one month later, on the next first of the month, two and a half months after the start of the...
by an_asker
Tue Jul 15, 2014 1:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Re: Did I make out like a bandit - interest (not Sallie Mae)

The payoff amount is treated differently, I believe. Just like if you refi. Then they want their daily interest. The bank isn't going to get cheated, right? :D But, along the way they keep it pretty simple for us. Oh well. I learned something new. At least, that makes me feel good that I did not (i...
by an_asker
Tue Jul 15, 2014 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Re: Did I make out like a bandit - interest (not Sallie Mae)

12%... what is this the '80s? :D You seem to think there's some daily interest calculation going on here? Not for the typical mortgage. Look at the amortization schedule and you will see the each scheduled payment is based off the principal balance at the time of the payment. Not the month prior. Y...
by an_asker
Tue Jul 15, 2014 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Re: Company just offered a Roth 401K option. Should I use i

I am glad that a Roth 401(k) was not available at work. It would benefit probably only 1% of the employees and that 1% would be those who made the most money and would be working until age 70. That is, it would benefit the people who didn't need any more benefits.[...] I disagree. I happen to belie...
by an_asker
Tue Jul 15, 2014 12:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company just offered a Roth 401K option. Should I use it??
Replies: 20
Views: 1186

Re: Did I make out like a bandit - interest (not Sallie Mae)

As far as I know, the principal and interest portions for the payment are figured out on the due date. So, the 07/01 payment is figured off of the principal balance on 07/01. Are you sure? That does not appear to be logical, because interest always accrues based on the trailing balance. Let me post...
by an_asker
Tue Jul 15, 2014 11:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Re: Did I make out like a bandit - interest (not Sallie Mae)

[...]The result of your second experiment does confuse me. Why would a payment on the 27th not be an early payment relative to the 7/1 due date? It might be particular to your servicer, I don't know. Like I said in my post, I specifically asked for the payment to be made against the principal. Intu...
by an_asker
Tue Jul 15, 2014 11:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Did I make out like a bandit - interest (not Sallie Mae)

My understanding is (was?) that interest accrues on the mortgage based on the balance on the first of the previous month. In other words, on a payment that is due 07/01, I will incur interest for the balance as of 06/01. After some trial and error, I concluded that banks fudge this number and give t...
by an_asker
Tue Jul 15, 2014 10:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Did I make out like a bandit - interest (not Sallie Mae)
Replies: 12
Views: 1593

Re: Age of Bogleheads with HSA/HDHP

Grabiner: On a separate OT tack, something you said in your previous response got me thinking. We have the HDHP/HSA as well as - for the first time this year - a small get-your-feet-wet limited expense FSA. We put $250 in it (or maybe $500, I forget which). What happens if our dental bills exceed t...
by an_asker
Mon Jul 14, 2014 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Age of Bogleheads with HSA/HDHP
Replies: 15
Views: 2046

Re: Age of Bogleheads with HSA/HDHP

Since the US health insurance system, even now with the ACA in effect, is mostly administered by employers, wouldn't any results have to take into account the ages of people who work for companies which offer HDHPs with HSA options in the first place, in order to have meaning? And maybe some consid...
by an_asker
Fri Jul 11, 2014 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Age of Bogleheads with HSA/HDHP
Replies: 15
Views: 2046

Re: Please help go over my 401(k) options

Schwab 1000 Index Fund (SNXFX) (0.29%) Vanguard Small Cap Index Admrl (VSMAX) (0.09%) Vanguard TOT Intl STK IDX ADM (VTIAX) (0.14%) Vanguard TTL Bond MKT IDX ADM (VBTLX) (0.08%) On allocation, think about at least 20% of stocks in international: " . . . net reduction in volatility of 75 basis ...
by an_asker
Thu Jul 10, 2014 1:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help go over my 401(k) options
Replies: 9
Views: 749

Re: How I look at $ in the real world vs my retirement accou

It is all a matter of perspective. It is weird how I react to a fluctuation of $10 in the prices of, say, clothing or groceries when, comparatively, if I pay $100 for a car repair bill, it appears like I came away a winner. Just ask VictoriaF who recently rejigged her car ;-)
by an_asker
Thu Jul 10, 2014 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: How I look at $ in the real world vs my retirement accounts
Replies: 45
Views: 5824

Re: O Canada! Questions about traveling to Canada :-)

The boarder patrol recommends that you have a consent letter, signed by both parents, giving details of your trip and acknowledging permission to take your niece out of the country. I would also get a medical power of attorney. Neither of these is strictly necessary but there are circumstances wher...
by an_asker
Tue Jul 01, 2014 1:26 pm
 
Forum: Personal Consumer Issues
Topic: O Canada! Questions about traveling to Canada :-)
Replies: 28
Views: 2644

Re: do you lie about your finances to friends

HomerJ wrote:
sscritic wrote:I don't lie to friends about my finances, which is why I lie to you guys. I have to lie to someone, and you are it.


We're not your friends?

He only lies to phriends phishing for info ;-)
by an_asker
Tue Jul 01, 2014 9:15 am
 
Forum: Personal Finance (Not Investing)
Topic: do you lie about your finances to friends
Replies: 103
Views: 8973

Re: Sallie Mae incorrectly calculating interest?

well dm200 my recollection of how that $40,004.17 got to be is a little different - the original number was 40 grand and you posted that you were $4.17 off and the OP responded by changing the 40 grand to (40 grand) + $4.17 . Personally I think the Sallie Mae balances on and after 6/17 are credible...
by an_asker
Tue Jul 01, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

O Canada! Questions about traveling to Canada :-)

We are planning an incursion trip just over the border this summer. I have a few questions that I would appreciate any answers for: - what are the "nature" related things we could do within, say, five hours of Niagara Falls into Canada (any direction)? - what documents would we need to car...
by an_asker
Tue Jul 01, 2014 8:56 am
 
Forum: Personal Consumer Issues
Topic: O Canada! Questions about traveling to Canada :-)
Replies: 28
Views: 2644

Re: Sallie Mae incorrectly calculating interest?

The interest below is calculated as 38797.58*3.75/100/365 and is identical for all days until OP makes a payment. The amount increases by this incremental amount daily. I am extrapolating through 6/30 (assuming no payments are posted to the account in that timeframe). 38797.58000 6/18 3.98605274 38...
by an_asker
Fri Jun 27, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

Re: Sallie Mae incorrectly calculating interest?

surfstar wrote:My actionable take away from this thread is sleep :wink:

You must be the one non=Boglehead on this thread :oops:
by an_asker
Fri Jun 27, 2014 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

Re: Sallie Mae incorrectly calculating interest?

Never mind - I am off by a couple of pennies as well!
by an_asker
Fri Jun 27, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

Re: Sallie Mae incorrectly calculating interest?

Balance was $40,000.00 on 1/1/14. Interest rate is .0375. 365.25 divide by yr. Payments made: 211.66 on 2/2 (135.71 going to interest), 500 on 3/10 (147.76 going to interest), 755 on 4/23 (179.02 going to interest), 211.3 on 5/16 (104.23 going to interest), 211.3 on 6/17 (115.95 going to interest)....
by an_asker
Fri Jun 27, 2014 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

Re: Sallie Mae incorrectly calculating interest?

What's up with your numbers? 6/23 38817.52816 23.90609884 38821.51353 6/24 38821.51353 31.87807141 38825.49931 31.88 - 23.91 = $7.97 but the day before your interest was 23.91 - 19.92 = $3.99 Why did your interest as you calculated it double from one day to the next? And why was no interest accrued...
by an_asker
Fri Jun 27, 2014 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123

Re: Sallie Mae incorrectly calculating interest?

Interest should compound, no? Otherwise it would see the same increase of daily interest on their website during the same pay period. If you only calculate simple interest per day and then add up the daily interests since the last payment, then the numbers would really be off. No it should not. Bes...
by an_asker
Fri Jun 27, 2014 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae incorrectly calculating interest?
Replies: 85
Views: 4123
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