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Re: Where do we go from here?

Thanks to everyone. The consensus seems to be it's ok to start the taxable account, so that's what i'll do!
by jlq39
Mon May 12, 2014 10:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Where do we go from here?
Replies: 7
Views: 1054

Re: Where do we go from here? [Open a taxable account?]

LadyGeek wrote:This thread is now in the Investing - Help with Personal Investments forum (portfolio help). I also retitled the thread to draw the attention of members who can help you the best.


Thank you LadyGeek!
by jlq39
Thu May 08, 2014 5:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where do we go from here?
Replies: 7
Views: 1054

Where do we go from here?

Hello Bogleheads, My wife and I have been pondering this question. We recently paid off our mortgage so we're trying to decide what to do with a healthy amount of disposable income. We are in our mid 30's, have no debt, and a year of expenses in an emergency fund. We contribute roughly 20% of our gr...
by jlq39
Thu May 08, 2014 5:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where do we go from here?
Replies: 7
Views: 1054

Re: Advice Request - Paying off Mortgage

If it was me, I would figure out whatever was 6 months worth of expenses and then dump every cent up to that on the mortgage tomorrow. Then i'd put all extra monthly cash toward it to knock it on out. Probably wouldn't take much time at all. That's pretty much what we did, once we only had a mortgag...
by jlq39
Wed Jan 08, 2014 3:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Advice Request - Paying off Mortgage
Replies: 13
Views: 1361

Re: Drowning in low-interest debt--pls help me prioritize

If you want to keep a "supposed" zero percent loan around so you can invest that money and "maybe" make a few extra percent that's the OP's decision, but it is not risk free by any means. Lose a job, become disabled, whatever the reason and see if you can pay back that 0% loan. ...
by jlq39
Wed Sep 18, 2013 11:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Drowning in low-interest debt--pls help me prioritize
Replies: 85
Views: 5886

Re: Drowning in low-interest debt--pls help me prioritize

I think you are forgetting a major component to any loan, and that is risk. I don't care what interest rate you have, if you fail to pay, you either go bankrupt or get repossessed. Don't you have that backwards? Isn't the lender the one taking the risk? If you declare bankruptcy, the debt is discha...
by jlq39
Wed Sep 18, 2013 10:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Drowning in low-interest debt--pls help me prioritize
Replies: 85
Views: 5886

Re: Drowning in low-interest debt--pls help me prioritize

bungalow10, Sorry you took it as insulting--not intended, so apologies. I actually was responding to jlq39's post, not yours--that post quoted your post. lql39's post mentioned the behavioral problem, and was not addressed to you, but to the OP, so my comment on addressing the behavioral problem ha...
by jlq39
Tue Sep 17, 2013 6:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drowning in low-interest debt--pls help me prioritize
Replies: 85
Views: 5886

Re: Drowning in low-interest debt--pls help me prioritize

OP - I highly recommend attacking the debt Dave Ramsey-style. After our second child was born, DH and I paid off about $110k of debt, most of it at either 0% or 3.5%. It took two years but it is AMAZING to have it gone. Most of it was from being upside-down on our primary residence and an investmen...
by jlq39
Tue Sep 17, 2013 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drowning in low-interest debt--pls help me prioritize
Replies: 85
Views: 5886

Re: Which Debt to focus on first?

Definitely the car. Then the student loan.
by jlq39
Tue Sep 10, 2013 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which Debt to focus on first?
Replies: 7
Views: 583

Re: Anyone tax savy that can give me their two cents?

Hi Raybo, Sorry if I didn't make things clear enough. Basically, the non profit wants me to "donate" the ad space on a vehicle of mine. If this were a paying customer wanting me to place the ad, I would charge them $500-$1,000, but since this is a non-profit, i'm looking to help them out. ...
by jlq39
Fri Feb 08, 2013 4:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone tax savy that can give me their two cents?
Replies: 6
Views: 859

Anyone tax savy that can give me their two cents?

I run a small business as a sole proprietor. Its related to the marketing field. I've been asked for my business to donate a portion of ad space, which is normally valued between $500-$1,000 to a 501(c) non profit organization. My question is, while i'm going to do it regardless because I do support...
by jlq39
Fri Feb 08, 2013 2:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone tax savy that can give me their two cents?
Replies: 6
Views: 859

Re: Good-to-Go on Roth IRA Withdrawal for Home Purchase?

Terrible idea. Just save up the money and buy when you can afford it.
by jlq39
Thu Jan 10, 2013 2:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Good-to-Go on Roth IRA Withdrawal for Home Purchase?
Replies: 12
Views: 1012

Re: Student loan payoff: keep in cash or payoff now?

3. Retirement contribution funding order question: First, I'm putting my 6% contribution to my retirement to get the match (free money). Should my second order to be focusing on funding a Roth IRA to max? Then after Roth is maxed, go back and contribute to the max traditional IRA?? Yes! No, this do...
by jlq39
Wed Dec 19, 2012 4:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Student loan payoff: keep in cash or payoff now?
Replies: 13
Views: 1320

Re: Student loan payoff: keep in cash or payoff now?

Questions: 1. Should I pay off my loans right now with cash? The reason I have been a little hesitant is that I have lower interest rates on my loans. Or perhaps pay off the 3.625% rate first? Maybe gradually pay them off throughout 2013? Pay the minimums for a couple years? I will eventually get a ...
by jlq39
Tue Dec 18, 2012 6:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Student loan payoff: keep in cash or payoff now?
Replies: 13
Views: 1320

Re: Are we ready (enough) to buy a house?

You asked, so I will answer. Absolutely not. Under no circumstance in your situation would I buy a home. Let alone a home you can't afford. 1) Finish paying off the 40k 2) Save up 6 months worth of EF 3) Buy only when you have 20% down payment on a 15yr mortgage where the payment is 25% or less of y...
by jlq39
Thu Aug 09, 2012 5:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are we ready (enough) to buy a house?
Replies: 29
Views: 2831

Re: Once Again A Reason to Avoid Debit Cards

I never use my debit card. In this day in age with fraud, a credit card is almost a must to protect yourself. That is, unless you want to use only cash. It's just too easy to get a charge cleared from your account on a credit card than it is on a debit card when the money is gone. Now that being sai...
by jlq39
Thu Aug 09, 2012 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Once Again A Reason to Avoid Debit Cards
Replies: 67
Views: 5158

Re: Invest in Vanguard next 30 years OR pay down loan?

JLQ39 and BDPB, Yes, I could pay off the mortgage completely or just pay down $75k and get a significantly better rate. The mortgage interest deduction and historic low mortgage rates are my two thoughts for keeping the mortgage. I don’t own any 30 year bonds paying 3.625% and I’m guessing not many...
by jlq39
Tue Jul 10, 2012 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Invest in Vanguard next 30 years OR pay down loan?
Replies: 16
Views: 1700

Re: Should I take $10K out of savings to pay student loans?

Clean up that mess, then focus on buying a home. What mess? We don't have all the facts about income or savings rate, but the OP appears to be saving quite a bit by contributing to tax-advantaged accounts while also accumualting a sizable sum in cash just 5 years out of school. Long-term debt at a ...
by jlq39
Tue Jul 10, 2012 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I take $10K out of savings to pay student loans?
Replies: 49
Views: 3009

Re: Invest in Vanguard next 30 years OR pay down loan?

My question is if you have access to $3M why on earth do you want to have a mortgage at all??? Doesn't seem to make any sense to me.
by jlq39
Tue Jul 10, 2012 2:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Invest in Vanguard next 30 years OR pay down loan?
Replies: 16
Views: 1700

Re: Should I take $10K out of savings to pay student loans?

I believe the best option is for you to pay the loan off in full and then take the $10k left over and get your emergency fund up to 6 months whatever that is. Once you are debt free, then you can start saving for a home. There is no rush to buy a home. It would be different if you could afford a hom...
by jlq39
Tue Jul 10, 2012 2:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I take $10K out of savings to pay student loans?
Replies: 49
Views: 3009

Re: Should I pay off this student loan?

ASAP!
by jlq39
Thu Jul 05, 2012 10:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off this student loan?
Replies: 14
Views: 1425

Re: Tell Me Why I Should Pay Off My Student Loans

because it is the smart thing to do.
by jlq39
Sun Jun 24, 2012 8:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tell Me Why I Should Pay Off My Student Loans
Replies: 40
Views: 4255

Re: Investment Vehicle for 0% Car Purchase

Pay cash, move on. 0% financing is a mirage. Someone is paying and it's normally you in the form of higher price for the car. There are no free lunches. If you have the cash, then you can afford it, so pay for it. Don't play the shell game.
by jlq39
Tue Jun 12, 2012 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Investment Vehicle for 0% Car Purchase
Replies: 13
Views: 996

Re: Buying a home Vs. Paying student loan debt

Pay off the student loans first, then worry about a home. Don't let all this "best time ever to buy a home" nonsense get the best of you. The best time to buy a home is when you can afford it! With that much in student loans it doesn't look like you can afford it. Whatever you are paying i...
by jlq39
Wed May 30, 2012 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a home Vs. Paying student loan debt
Replies: 24
Views: 1573

Re: Should I pay off my car loan?

Absolutely pay it off without another thought.
by jlq39
Thu May 24, 2012 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my car loan?
Replies: 8
Views: 1167

Re: Would you pay off your mortgage in our situation?

Thanks for everyones response. I think we'll sit tight another couple months then reevaluate at that time. In the grand scheme of things a couple months is not a big deal.
by jlq39
Thu Mar 22, 2012 10:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Would you pay off your mortgage in our situation?
Replies: 23
Views: 2089

Re: Would you pay off your mortgage in our situation?

mephistophles wrote:I would recommend not paying off the mortgage!


What is the reasoning for your response?
by jlq39
Wed Mar 21, 2012 4:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you pay off your mortgage in our situation?
Replies: 23
Views: 2089

Would you pay off your mortgage in our situation?

Hello Guys and Gals, My wife and I have saved enough cash to pay off our mortgage. But doing this would pretty much deplete our emergency funds. The good news is we make a very healthy income and could build it back up to 6 months worth in literally 4-5 months. We have also always looked at our Roth...
by jlq39
Wed Mar 21, 2012 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you pay off your mortgage in our situation?
Replies: 23
Views: 2089

Re: Car Purchase: Loan versus Cash

Pay cash, be done, move on. It's that simple.
by jlq39
Tue Mar 20, 2012 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Car Purchase: Loan versus Cash
Replies: 26
Views: 2076

Re: Pay off Debt or buy a house

Jim127 wrote:If it was me, I would not be buying a house/condo until all the debt is paid off (including the car), a fully funded emergency account of at least 6 months of expenses, funding retirement accounts with at least 15% of salary and having a downpayment of at least 20%.


I strongly second this advice.
by jlq39
Tue Mar 13, 2012 10:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay off Debt or buy a house
Replies: 9
Views: 607

Re: How Can I Invest In Single Family Houses?

I am looking for a passive investment, something similar to REITs. First off, rental property is not a passive investment whatsoever. Even with a property manager you are still dealing with paper work and coordination issues. Also, do you have a mortgage on your current home? If so, you'd be better...
by jlq39
Wed Mar 07, 2012 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: How Can I Invest In Single Family Houses?
Replies: 52
Views: 1932

Re: How do you value a pension?

A 401K is easy to value, as there is an absolute value for it, but when someone ask what is the value of your net assets, how do you place a value on a pension? I don't. When I die, that pension evaporates. I don't try to "value" Social Security either. Neither are an asset and they don't...
by jlq39
Mon Feb 20, 2012 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do you value a pension?
Replies: 24
Views: 1782

Re: Paying off low interest student loans early -- a mistake

In our situation, we have two debts, our mortgage and student loan. Our mortgage is at 3.5% after tax, and our student loan is at 1.6% after tax. We owe more on our mortgage, but we are paying that off aggressively and will likely be mortgage free before the year is over. The monthly outlay for the ...
by jlq39
Thu Feb 16, 2012 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off low interest student loans early -- a mistake?
Replies: 71
Views: 12911

Re: Pay off car loan or invest

Pay it off and be done with it. I did the same thing don't regret it one bit. Interest rate really did not factor in when it comes to a depreciating asset like a car. We've been without car payments for a few years now and it's totally worth it. The next car we buy will be in cash and it feels reall...
by jlq39
Thu Feb 16, 2012 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay off car loan or invest
Replies: 13
Views: 867

Re: 401k loan or student loan?

After talking with my wife this evening, she explained a lot of universities now require a three year DPT program. You can no longer just get a masters like she did. In that case I guess I would opt for the student loan if I couldn't cash flow the school. I would not take a 401k loan. Sorry about my...
by jlq39
Mon Feb 06, 2012 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k loan or student loan?
Replies: 7
Views: 589

Re: 401k loan or student loan?

The first thing I would think about is, do you think it's really necessary to get a DPT in that profession. My wife is a physical therapist and has her masters in PT. When we looked at whether it was worth it to go forth with her DPT (which in her case she can do in one year online going full time) ...
by jlq39
Mon Feb 06, 2012 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k loan or student loan?
Replies: 7
Views: 589

Re: Is having debt bad?

Help me out here: Aren't bonds a form of debt? Isn't it a little odd to say "it is bad to be in debt" while at the same time (hopefully...) profiting by extending credit, through bonds, to those who wish to be in debt? I mean, how can one really subscribe to the axiom "never a borrow...
by jlq39
Fri Jan 06, 2012 3:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is having debt bad?
Replies: 30
Views: 2332

Re: Is having debt bad?

I am curious if those in this thread who are calling debt "stupid" and implying that it makes you a slave to the lenders are referring to all debt (including mortgages, low interest auto/student loans, or just consumer debt). While I share the debt aversion, I don't think most people in t...
by jlq39
Fri Jan 06, 2012 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is having debt bad?
Replies: 30
Views: 2332

Re: Is having debt bad?

Emotionally and Physically, the answer is Yes. Mathematically the answer is Maybe. I am a human being (and not a machine) therefore I am emotional hence, all debt is bad to me regardless of what it is. Doesn't matter if it's a mortgage, car loan, or loan from my mom. I do carry debt myself, but it w...
by jlq39
Wed Jan 04, 2012 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is having debt bad?
Replies: 30
Views: 2332

Re: Can I afford to buy this home?

I have only glanced at the comments so far. However, I have seen some incredulity over the price. I think this house is in the south east. So, the price does not surprise me. I don't think people realize how different the cost of living can be in the US, depending on where you live. I think the inc...
by jlq39
Tue Dec 20, 2011 3:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford to buy this home?
Replies: 126
Views: 10507

Re: Can I afford to buy this home?

The simeple answer is no, you can't afford it. One thing your not taking into account with your payment is maintenance costs. They tend to be anywhere around 1% of the total value of your home per year. If you can't afford the payment on a 15-year mortage with putting at least 20% down, and keep you...
by jlq39
Tue Dec 20, 2011 2:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford to buy this home?
Replies: 126
Views: 10507

Re: Owning a used jalopy: Same cost as leasing brand car.

I bought a used Honda in 2007. Paid $6000. It had 70k miles. It finally died in 2011 at 140k miles. I sold it for about $1000. $5000 in depreciation, and $3000 in repairs. Total cost of ownership was $8000 over 4 years. $2000 a year. or $166/mo. I bought a used Neon 2002 in 2005 for $6000, and I'm ...
by jlq39
Mon Dec 19, 2011 11:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Owning a used jalopy: Same cost as leasing brand car.
Replies: 132
Views: 6442

Re: Did we make a bad decision on new flooring?

Judging from responses we have gotten, I have just cancelled the order. It looks like something more in the $5/square foot range should be the maximum we pay. Thanks everyone for their experiences and comments. I think we'll have a big box store to come out and give us an estimate. We found the firs...
by jlq39
Sat Dec 10, 2011 6:15 pm
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Re: Did we make a bad decision on new flooring?

My wife and I considered Empire for carpeting recently. The quoted us an expensive price for cheaper carpeting. When we kept balking, they ulimately dropped their quote by more than a third. I felt like it was a sales job. We ultimately went with a nice carpet from a big box store for about 15% mor...
by jlq39
Sat Dec 10, 2011 6:12 pm
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Re: Did we make a bad decision on new flooring?

Your estimates do not seem to be too far off from what I have done recently. Back in September we did approximately 1,000 sq ft of "high quality" laminate flooring. We selected material by Quick-Step and it had paneled grooves that mimmicks real hard wood. Anybody that steps into our hous...
by jlq39
Sat Dec 10, 2011 6:10 pm
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Re: Did we make a bad decision on new flooring?

Did you go go with laminate over true hardwood flooring because its supposed to be cheaper?...or do you just prefer laminate? Hardwoods will have better resale for your house. I'm sure prices fluctuate regionally, but we just ripped up carpet and put down hardwoods in our family room. It's about 50...
by jlq39
Sat Dec 10, 2011 6:09 pm
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Re: Did we make a bad decision on new flooring?

This website has good info on home projects; http://ths.gardenweb.com/forums/ Why not do one room at a time, rather than the entire house? Our family room and kitchen really need to be done at the same time because they are open to each other and that also includes the hallway. That alone is probab...
by jlq39
Sat Dec 10, 2011 6:06 pm
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Did we make a bad decision on new flooring?

We are looking to replace the flooring in our entire 1420 sq ft. home with laminate flooring. We've had two different quotes. We were going to get a third from one of the big box stores, but decided against it. The following were the two estimates we recieved. Company 1: $7,100 (local small company ...
by jlq39
Sat Dec 10, 2011 2:13 am
 
Forum: Personal Consumer Issues
Topic: Did we make a bad decision on new flooring?
Replies: 25
Views: 2510

Re: Huge windfall, should I pay off house?

I would pay off the mortgage without a second thought. Very easy decision.
by jlq39
Thu Nov 10, 2011 11:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Huge windfall, should I pay off house?
Replies: 33
Views: 3559
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