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Re: "I've had it" at work - how often

I share some of your pain. Here is how I think of work: 1. I am here to get paid only and do my work for 8 hours and go home. 2. I ignore all the BS and politics and do my job. 3. I don't take anything at work personally, just pay me. 4. When I get home, I figure out where to travel next and plan m...
by goodoboy
Sun Oct 19, 2014 7:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: "I've had it" at work - how often
Replies: 151
Views: 12642

Re: When can I afford to buy a home?

The safest route before buying a house is : 1. Saving for 20% to put down 2. Saving 12 months of emergency fund. 3. Save more money for new home stuff (like new furniture, appliances, lawn mower, etc) 4. Save some more money like $8K for anything that will break that first year just for home repairs...
by goodoboy
Sun Oct 19, 2014 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: When can I afford to buy a home?
Replies: 21
Views: 2569

Re: "I've had it" at work - how often

I share some of your pain. Here is how I think of work: 1. I am here to get paid only and do my work for 8 hours and go home. 2. I ignore all the BS and politics and do my job. 3. I don't take anything at work personally, just pay me. 4. When I get home, I figure out how to make passive income to en...
by goodoboy
Sun Oct 19, 2014 1:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: "I've had it" at work - how often
Replies: 151
Views: 12642

Re: Texas - Recommendation Where To Live

Hello, I live in Houston Texas and love it. Lots of jobs and good people and food.

Houses are cheap and no state taxes.
by goodoboy
Mon Sep 08, 2014 10:02 am
 
Forum: Personal Consumer Issues
Topic: Texas - Recommendation Where To Live
Replies: 56
Views: 3165

Re: best place to buy kitchen appliances

We bought a house and are planning to remodel the kitchen. We will replace all the kitchen appliances. After some research, we are planning to buy a 36' Thermador or Viking range top, a Fridge (most likely a LG or Samsung) a Bosch dishwasher a double wall oven The total cost will be around 10k. Any...
by goodoboy
Sun Sep 07, 2014 9:33 pm
 
Forum: Personal Consumer Issues
Topic: best place to buy kitchen appliances
Replies: 26
Views: 2571

Re: Travel Insurance for a "trip of a lifetime"

Hi everyone! I recently booked a "trip of a lifetime" to the South Pacific. I normally do not buy trip insurance but since this adventure is quite pricey I figured it may be worth looking into. Does anyone have advice on this? Places to get quotes, etc? Thank you for your time! Chad Hello...
by goodoboy
Sun Sep 07, 2014 6:55 pm
 
Forum: Personal Consumer Issues
Topic: Travel Insurance for a "trip of a lifetime"
Replies: 36
Views: 2556

Re: Budget breakers

I am trying to set up a baud get for my family that will put us in a better position financially for the years to come. While doing this I am trying to figure out the most likely culprits that will ruin my budget. Here are the things I came up with: Me Gardening supplies (seeds, dirt, materials, bi...
by goodoboy
Sun Sep 07, 2014 12:18 am
 
Forum: Personal Consumer Issues
Topic: Budget breakers
Replies: 37
Views: 2847

Re: Dividend Strategy Ain't For Everyone

retiredjg wrote:
goodoboy wrote: Get the simple things right first.

Wise words for many areas of life. :happy


Correct retiredjg! When it comes to investing rather it dividend investing or step 1 and 2, make sure its simple and easy.
by goodoboy
Sat Aug 02, 2014 11:05 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

+1 . It is so easy to feed off on each other's disdain for an approach. I do have a portion of my assets in Dividend Paying and Growing stocks. I am currently in accumulation phase and do not need dividends for income. I simply reinvest them back into stocks. I do not immediately reinvest upon divi...
by goodoboy
Sat Aug 02, 2014 5:35 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

As noted many times before, this forum is hardly the place for a rational discussion of income stock investing. It quickly degenerates into name calling and put downs; frankly, it's tiresome. To proudly assert that income stock investors are irrational, illogical, ignorant, with "blinders on&q...
by goodoboy
Sat Aug 02, 2014 5:26 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

I'll try to allay some concerns as a dividend investor. There are many different kinds of dividend strategies, some of which I strongly disagree with. However, one idea, which I profess to, is to own a basketful of stocks (around 15-20) and hold for the long-term. That means that your dividends, if...
by goodoboy
Fri Aug 01, 2014 7:04 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

Here is what is funny to me. People talking about buying dividends stocks and working everyday just like me! Maybe I am slow or too simple thinking. I rather do step 1 and 2 ANYDAY of the week, then sit in front of a computer watching a 30-70 dividends stocks daily and keeping up with who is paying ...
by goodoboy
Fri Aug 01, 2014 6:39 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

Why do so many people do and believe in dividend income strategy? One guy I talked to says he cares about the yield his dividends are producing him when retired he don't care about his portfolio return. I say doing, step 1 and 2, then once I reach my goal, I no longer need to invest a dime. Is it no...
by goodoboy
Fri Aug 01, 2014 2:03 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

Magic doesn't work. Listen to your senses. You are doing the right thing. A world without magic is so much more boring than one with magic. That explains the constant appeal. But we live in the world without magic, so the people who know that come out ahead in life. You are right, good analogy. Now...
by goodoboy
Fri Aug 01, 2014 1:33 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

... I hear soo many people looking for stocks paying high dividend. I often wonder if they attempt step 1 and 2 first. I am going to stick to step 1 and 2, unless I am missing something, if so please inform me. Any comments or opinions on this topic. Fundamentally, retirement savings = deferring CU...
by goodoboy
Fri Aug 01, 2014 1:05 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

You are not missing anything. Return is return, whether it comes from dividends or capital appreciation. Glad to read my (and anyone else) simple approach is agreed with. Im all for working smarter not harder. Researching stocks is lots of work. I rather get the basic (step 1 and 2) and right first...
by goodoboy
Fri Aug 01, 2014 12:17 pm
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Dividend Strategy Ain't For Everyone

I read other blogs that state that the dividend income strategy is flawed and that a lot of people are fooled into thinking it is good. I do not use it and I don't think anyone else should use it either --- even if they get to step 3. Livesoft, I didn't want to offend anyone in the original post, b...
by goodoboy
Fri Aug 01, 2014 11:44 am
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Dividend Strategy Ain't For Everyone

Hello, I just wanted to share this thoughts (I could be wrong or right, or whatever) to all the simple people out there so they don't feel alone. I am simple minded person and I try to keep investing as simple as possible so that I build enough moneny in my retirement accounts (401K and Roth IRA) so...
by goodoboy
Fri Aug 01, 2014 11:26 am
 
Forum: Investing - Theory, News & General
Topic: Dividend Strategy Ain't For Everyone
Replies: 149
Views: 11751

Re: Stop Extra Payment Toward Mortgage?

I was thinking of first building the regular savings account to about $30K. Afterwards, I wanted to start maxing out both ROTH IRA accounts per year instead of putting extra money in regular savings account. Are you saying use ROTH IRA as emergency fund now? Thanks I'm suggesting that you should be...
by goodoboy
Sun Jul 27, 2014 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

I am only maxing my 401k to 17.5k and wife is contributing the standard 5% to get company match. These are our only retirement funds. I had plan to start a ROTH IRA this year, but I will wait til my emergency fund is built up to my liking. Of course a ROTH IRA can be used a emergency fund as well, ...
by goodoboy
Sun Jul 27, 2014 1:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

3.25% is a low interest rate for a loan. I don't understand why people pay off low-rate loans faster than they have to. I'd take the extra payments and sock it into investments. There's a good chance your investments make better than 3.25% over the long haul. Because you are not guaranteed better t...
by goodoboy
Sun Jul 27, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

Also, just incase anyone is wondering.... if i stop making extra payment, I will pay $65k in interest for the life of the loan (26 years). If I continue paying extra payments, I will pay $31K for the loan. Taxes, I take the standard deduct rather I pay extra or not. Another thought was to open ROTH ...
by goodoboy
Sun Jul 27, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

Thanks for all that replied. I decided to stop (for about 1.5 years until my savings reach +$25K) or 1 year of emergency fund) paying extra towards mortgage for the following reasons: 1. current rate is 3.25% and 26 years remaining, I want miss out much interest savings for about a year. My P&I ...
by goodoboy
Sun Jul 27, 2014 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

Paying off a home in 15 years is often a better move than 30, but I would only do it if I could afford the 15-year mortgage at the outset. You normally get a significant interest rate reduction. Doing it your way you pay the higher interest rate of the 30-year but endure the belt-tightening of the ...
by goodoboy
Sun Jul 27, 2014 11:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

You have already figured out that you are adding equity faster than any investment you have. He is paying off a debt. His ROI is simply the interest avoided. "Adding equity" is a meaningless real estate term. You have an asset and you owe a debt. nothing more or less. Yes, please, lets no...
by goodoboy
Sun Jul 27, 2014 11:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

Personally I would not want to borrow money to pay for household repairs or car repairs like you describe so I would not even consider the HELOC option. I would stop making extra payments on the mortgage until your emergency fund is back where you want it to be. I think you have a good plan. You ar...
by goodoboy
Sun Jul 27, 2014 10:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

Sorry, a HELOC pre-approves you for a line of credit against your home. It pairs nicely with your prepayments as you'll have enough equity to support the HELOC application, if not today, soon. Thank you, My home is currently worth more than what I owe. Its worth about $30K more than what I owe. Do ...
by goodoboy
Sun Jul 27, 2014 12:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

If you have kids and other responsibilities, I'd stop the pre-payments for awhile and get the emergency fund replenished. However, get back to prepaying the mortgage as soon as possible. You have already figured out that you are adding equity faster than any investment you have. Prepaying in the ea...
by goodoboy
Sat Jul 26, 2014 11:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Stop Extra Payment Toward Mortgage?

How much are you adding to emergency fund per month now while you're making extra mortgage payments? Are you contributing to Roth 401k or Traditional 401k? If contributing to Roth 401k, consider a switch to Traditional 401k to get the tax deduction and increase take home pay. Thanks I been adding a...
by goodoboy
Sat Jul 26, 2014 11:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Stop Extra Payment Toward Mortgage?

Hello, I posted this on another site, but wanted some more comments please. I have 30 year mortgage at 3.25%. I make an extra $400 a month payment per month, to pay off mortgage in 14 years. Lately, I had to go into savings to pay for extra things that just came out the blue (house repair, car repai...
by goodoboy
Sat Jul 26, 2014 11:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stop Extra Payment Toward Mortgage?
Replies: 31
Views: 2100

Re: Engineer career change

Hello, I'm wondering if any former engineers can lend some insight into how their career progressed and what other fields they transitioned into. I'm 23 and work as a software engineer for an aerospace/defense company. Work is fine, but not something I'm super passionate about. I think in a couple ...
by goodoboy
Fri Jul 11, 2014 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Engineer career change
Replies: 55
Views: 5906

Re: How much to retire

If you want to retire early, then you should save/invest 50% of your current gross income. If you want to retire late, then you should save/invest 10% to 20% of your current gross income. If you want to retire in-between early and late, then you should save/invest 15% to 50% of your current gross i...
by goodoboy
Sun Jun 29, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to retire
Replies: 21
Views: 2977

Re: How much to retire

You are under 40 years old. I wish I were again. How do you have a clue what costs will be in 27 years? Health care? Taxes. Amount of SS you will get. Investment returns. Stock market valuation. Cost of nursing homes or travel? There are too many wild cards to project out nearly 30 years and then a...
by goodoboy
Sat Jun 28, 2014 6:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to retire
Replies: 21
Views: 2977

Re: How much to retire

Should be $33K x 33 or $1,089,000 and that's in today dollars. This is about what we need in todays dollar. Is it safe to assume 3% inflation to see how much I need to save 27 years? $1M in 27 years at 3% inflation comes out to $2.25M we need. 27 years is a long time from, but we just want make sur...
by goodoboy
Sat Jun 28, 2014 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to retire
Replies: 21
Views: 2977

How much to retire

Hello, Just doing some planning and wanted your opinion. Most finical advisers say plan to save 70-85% of pre-retirement income and use that for expense If 70-85%, should I subtract out SS income? I calculated what I think our expenses will be 27 years from now and we will only need about 52% (our i...
by goodoboy
Sat Jun 28, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to retire
Replies: 21
Views: 2977

Re: Retirement Goal Calculation

Thank you Question: If I go to retirement estimator (http://www.ssa.gov/retire2/estimator.htm) and it says I will receive $2500 at 67, will this adjust for inflation over the years (provided inflation goes up)? Or is this the amount I will receive at 67 if I am 35 now? In other words when to subtra...
by goodoboy
Sat Jun 28, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

Thank you Question: If I go to retirement estimator (http://www.ssa.gov/retire2/estimator.htm) and it says I will receive $2500 at 67, will this adjust for inflation over the years (provided inflation goes up)? Or is this the amount I will receive at 67 if I am 35 now? In other words when to subtrac...
by goodoboy
Thu Jun 26, 2014 9:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

I am completely confused!! Are you stating using the 4% withdraw means I need approximately (of course this is ball park figure) $830K when I reach the age of 62? If so, how is this possible? What about inflation? How can $830K today be the same 27 years from now? I am not understanding when you wr...
by goodoboy
Wed Jun 25, 2014 9:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

I am completely confused!! Are you stating using the 4% withdraw means I need approximately (of course this is ball park figure) $830K when I reach the age of 62? If so, how is this possible? What about inflation? How can $830K today be the same 27 years from now? I am not understanding when you wr...
by goodoboy
Tue Jun 24, 2014 7:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

Annual Expense (including 15%) tax rate: $33,200 (all in current dollars) From here you would multiply the $33,200 times 25 to get $830,000 which would be your magic "number". The reason that 25 is used is there have been studies that show that a 4% (1/25 = 4%) initial withdraw rate and t...
by goodoboy
Mon Jun 23, 2014 10:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

Let me make sure I understand. Everyone tell me if what I am doing somewhat correct. I know I can't be exact but want to make sure I understand. Retire at 62, 35 now. Last til 90 My Method Monthly expenses in retirement (today money): $5000 Income for SS: $2600 Total monthly expense after income: $2...
by goodoboy
Mon Jun 23, 2014 8:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: Retirement Goal Calculation

John3754 wrote:25x projected annual expenses is a good starting point.


Thank you

What is your method for calculating projected annual expenses? Do you use inflation? How much inflation do you use?

Thanks
by goodoboy
Sun Jun 22, 2014 10:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Retirement Goal Calculation

Hello,

I am 35 years old. How do you calculate how much is needed to retire for husband and wife?

Just curious how everyone here on this forum calculates their retirement goal.

Please describe your method for calculating your magic number for retirement.

Thank you kindly.
by goodoboy
Sun Jun 22, 2014 9:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5230

Re: pay off mortgage or ROTH

You think that because something is in your name only that she wouldn't get half in a divorce.... how cute. :wink: As someone mentioned earlier, you live in a community property state. Look up what that means. Lol, just a thought Twins Fan. More the reason, I am picking the safe bet and paying my h...
by goodoboy
Sun Jun 22, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

Maybe to summarize... there are two important points regarding the Roth vs Paydown. 1) You are NOT losing 3.25% on your mortgage if you put it on your Roth; you are losing 3.25% MINUS what you would earn in your Roth for similar risk... I don't know what a proper analysis is, but Vanguard Brokerage...
by goodoboy
Sat Jun 21, 2014 10:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

However, the math is still in your favor for maxing out retirement accounts before making extra mortgage payments. If you invest in Long-Term Treasury in your IRA, you have a long-term risk-free investment earning 3.05% (Investor) or 3.15% (Admiral), tax-free. If you pay down your mortgage, you hav...
by goodoboy
Sat Jun 21, 2014 10:38 am
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

1. Message from the mortgage company: Our records indicate that your loan was originated on 12/19/2012. In order for your mortgage insurance to be removed you will have to pay (MIP) for at least 5 years and the LTV will have to reach 78% on a 30 year FHA funded loan per the FHA guidelines. FHA does...
by goodoboy
Fri Jun 20, 2014 11:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

Thank you all for responding. Sorry late responding, been working late. I would like to continue the discussion on what shall I do Here is where I stand: 1. Message from the mortgage company: Our records indicate that your loan was originated on 12/19/2012. In order for your mortgage insurance to be...
by goodoboy
Fri Jun 20, 2014 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

If your mortgage won't allow you to get rid of PMI then there is little benefit in making extra payments. . Can you please help me understand this better? Let me see if I understand it :: If I continue to pay extra 400 towards mortgage, I be done with mortgage in 13 years and I can save/invest $105...
by goodoboy
Wed Jun 18, 2014 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110

Re: pay off mortgage or ROTH

I'm going to assume you know that Texas is a community property state and all the implications thereof, despite your obviously separate mental accounting. An opportunity to make Roth IRA contributions in a state with no income tax is not something to dismiss if you think you might later find yourse...
by goodoboy
Wed Jun 18, 2014 11:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage or ROTH
Replies: 58
Views: 4110
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