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Re: Tipping for a haircut at Great Clips

Geez. I'm tipping too much I guess...15 bucks haircut. 10 dollar tip.
by schmitz
Tue Mar 11, 2014 2:24 pm
 
Forum: Personal Consumer Issues
Topic: Tipping for a haircut at Great Clips
Replies: 56
Views: 3966

Re: short sale/tax forms

I found that California is a Anti-Deficiency / Non-Recourse State - maybe thats why I didnt get anything? I knew that California has an anti-deficiency law. What I didn't know from your OP was that you lived in CA. What I still don't know is if this was your primary residence or an apartment buildi...
by schmitz
Wed Feb 19, 2014 1:57 am
 
Forum: Personal Finance (Not Investing)
Topic: short sale/tax forms
Replies: 8
Views: 287

Re: short sale/tax forms

I did not get a 1099-C. Just the 1099-S. how would I know if they cancelled the debt? If it were I, I would know because I would have a paper from the lender saying they cancelled the debt. I don't know if I would do a short sale unless I knew in advance (and had it in writing) that the lender woul...
by schmitz
Wed Feb 19, 2014 1:46 am
 
Forum: Personal Finance (Not Investing)
Topic: short sale/tax forms
Replies: 8
Views: 287

Re: short sale/tax forms

I did not get a 1099-C. Just the 1099-S.

how would I know if they cancelled the debt?
by schmitz
Wed Feb 19, 2014 1:28 am
 
Forum: Personal Finance (Not Investing)
Topic: short sale/tax forms
Replies: 8
Views: 287

short sale/tax forms

I went through a short sale in 2013 and received a 1099-S form in the mail. no problem there. it just tells me what it sold for. However, I wanted to know if I was going to be responsible for the balance (it sold for about 40-45k less than the mortgage balance) so I called the same escrow company th...
by schmitz
Wed Feb 19, 2014 1:11 am
 
Forum: Personal Finance (Not Investing)
Topic: short sale/tax forms
Replies: 8
Views: 287

Re: best tips for passwords?

thanks for all the help everyone! To be as safe as possible, go with random character passwords that are hard to remember and hard to type - as long as the site allows with as many different character types as you can (Upper case, lower case letters; numbers; symbols). Some sites restrict length or ...
by schmitz
Sun Feb 16, 2014 1:36 am
 
Forum: Personal Consumer Issues
Topic: best tips for passwords?
Replies: 141
Views: 8517

best tips for passwords?

anyone have any good tips for creating safe passwords? what is most important? 1) length? 2) using non-letter characters? 3) changing them often? 4) does every website need a different password? my guess is all of the above. however, is there a way to create passwords that dont need to be changed mo...
by schmitz
Sun Feb 16, 2014 1:09 am
 
Forum: Personal Consumer Issues
Topic: best tips for passwords?
Replies: 141
Views: 8517

Re: Getting rid of wife's Target Date fund - questions

How did you estimate your house value so specifically?
by schmitz
Fri Feb 14, 2014 6:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Getting rid of wife's Target Date fund - questions
Replies: 22
Views: 2095

Re: question about TSP contribution limits

excellent - thanks for all the replies.

one last quick question - is there any advantage to upping my wifes contributions to get the full 17500 (rather than 17498) besides the $2?
by schmitz
Thu Jan 09, 2014 1:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: question about TSP contribution limits
Replies: 10
Views: 599

question about TSP contribution limits

I hope I didnt just make a mistake here... I recently upped my wife's TSP contribution to max it out for the upcoming year. According to an email they sent out: If you want to maximize your regular contributions, you will need to change your biweekly contribution to $673... which makes sense because...
by schmitz
Thu Jan 09, 2014 3:56 am
 
Forum: Investing - Help with Personal Investments
Topic: question about TSP contribution limits
Replies: 10
Views: 599

Re: can we do a ROTH TSP if we already contribute to a ROTH

thank you for all the replies. as far as MAGI, im not exactly sure where my wife and I will land (since im self employed). I would think we are kind of close to the level. so what would happen if I converted her TSP to a ROTH TSP and that pushes us over the threshold level for the ROTH IRA? would we...
by schmitz
Thu Dec 26, 2013 5:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: can we do a ROTH TSP if we already contribute to a ROTH IRA?
Replies: 9
Views: 655

can we do a ROTH TSP if we already contribute to a ROTH IRA?

my wife and I have been maxing out our ROTH IRAs for a few years now and I just noticed on her TSP that there is a button for "start ROTH TSP contribution" - is she eligible for that if she already has a ROTH IRA?
by schmitz
Tue Dec 24, 2013 5:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: can we do a ROTH TSP if we already contribute to a ROTH IRA?
Replies: 9
Views: 655

Re: portfolio advice - am I on the right track?

I think you should take a step back and read The Bogleheads Guide to Investing before you do anything else. If you have time you should also read every single page on the wiki. http://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/0470067365 thanks. will do. If i have any questions fr...
by schmitz
Sat Nov 09, 2013 10:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

OP here. thanks for all the help a few more questions: 1) still having trouble figuring out what my AA is suppose to be? is there a formula? I see its based a lot on how much time you have and what your risk tolerance is but I cannot figure out what my ratio should be. I am around 90/10 so far (sinc...
by schmitz
Sat Nov 09, 2013 9:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

wow - thanks again for all the help. i am trying to learn a lot but am realizing i am so far behind. i can barely translate any of this (how does the average american invest themselves? either i am over thinking this or it seem so complicated), but slowly getting better. I have a lot of questions bu...
by schmitz
Tue Nov 05, 2013 4:46 am
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

just a follow up question on the above posts:

Her Roth
4.88% Vanguard Total Bond Market Index Fund


for example, how I get 4.88% of our portfolio into her ROTH when we can only add 5k per year?
by schmitz
Mon Nov 04, 2013 2:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

If you are self employed, you should be able to open a solo 401k. You can dump a ton of money (up to around 50k with enough salary) into it. I have one through fidelity and the consensus seems to be they are better than vanguard for solo 401k. It was easy to open. You can live on any cash you have ...
by schmitz
Mon Nov 04, 2013 2:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

b. target funds are marketing shams. Often overpriced. Often not balanced to the individual's needs. Often have a percentage of "What's that? Do I really need that?" To echo some of the other responders, the first of these four statements does not apply to all target date funds. Yes, some...
by schmitz
Mon Nov 04, 2013 2:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

Rob54keep wrote:You may want to consider I-Bonds as an after-tax but yet tax-deferred instrument. Max is $10k/person/year. You can check it out at Treasury Direct.com.


thanks. but the website says the rate is only 1.38%. doesnt that seem kind of low for an investment return?
by schmitz
Mon Nov 04, 2013 1:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

OP here - thanks for all the replies from everyone. i appreciate it! I would unequivocally disagree with the idea that a target date fund is a "sham." There are criticisms that can be levied at this type of fund, but there are some really solid choices too. The Vanguard Target Date funds a...
by schmitz
Mon Nov 04, 2013 1:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: portfolio advice - am I on the right track?

questions: a) should I be putting more money into those investment accounts quicker? b) basically everything is going into the same 2040 target funds (vanguard/TSP)...is this smart? c) I see people make 20-25% returns recently and while ive been doing well (around 18%) d) are we on the right track?...
by schmitz
Sat Nov 02, 2013 2:20 am
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

portfolio advice - am I on the right track?

hello, ive posted here before and got some great advice. hope for some more. ill post as much as I can think of and if I'm missing anything let me know and ill add in relevant info. ages : me 36, wife 34 salary : combined about 150-170k (im self employed, hence the range) current assets : my SEP IRA...
by schmitz
Fri Nov 01, 2013 11:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: portfolio advice - am I on the right track?
Replies: 20
Views: 1821

Re: quick question about funding a roth at the deadline

Twins Fan wrote:Leason learned.... Don't wait until the last minute next time. :D


agreed. the reason i waited was mainly because i needed to hear back from my CPA if we were ROTH eligible this year. so i really need to start my taxes sooner next time :oops:
by schmitz
Tue Apr 16, 2013 1:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: quick question about funding a roth at the deadline
Replies: 7
Views: 390

Re: quick question about funding a roth at the deadline

You're good. Vanguard will not refund your money as contributions can be made as late as the last tax extension and they have no idea if you filed yet. I think technically you are supposed to fund by the due date or extension date. If you haven't filed, just file after it clears. If you did file, I...
by schmitz
Tue Apr 16, 2013 1:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: quick question about funding a roth at the deadline
Replies: 7
Views: 390

quick question about funding a roth at the deadline

i placed an order for $5000 to fund my 2012 ROTH on friday, april 12 at vanguard.com

however the order wasnt finalized until today (one day after the deadline). am I still ok? if its too late will vanguard simply reverse the order and refund my money?
by schmitz
Tue Apr 16, 2013 11:59 am
 
Forum: Investing - Help with Personal Investments
Topic: quick question about funding a roth at the deadline
Replies: 7
Views: 390

Re: should we refinance?

thanks again for all the help. i have a slight update - he is now offering a 15 year at 2.875% . can someone help me with the math here? so right now im at 30 year/3.875% - my current payment (including insurance and prop taxes escrowed in) is about $2160 . (total interest paid in 30 years = $221,00...
by schmitz
Fri Apr 05, 2013 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: should we refinance?
Replies: 15
Views: 1494

Re: should we refinance?

thanks for all the help and suggestions!
by schmitz
Wed Apr 03, 2013 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: should we refinance?
Replies: 15
Views: 1494

should we refinance?

hope this is the correct sub forum... anyways, here is the info: we currently have a ~320,000 mortgage at 3.875% . (we actually refinanced a first time back in october, 2012) we are told we can get 30 year/3.625% when we are eligible to refinance again (no fee refinance, only pay for an appraisal wh...
by schmitz
Fri Mar 29, 2013 9:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: should we refinance?
Replies: 15
Views: 1494

buying a home safe for valuables

this is sort of a finance question since I want to put cash and valuables in there :D any recommendations? i dont need it to be too big - its only for cash, passports, important docs, etc... (maybe 1 cubic foot?) Its for fire and water damage and also to prevent theft. im trying to my research onlin...
by schmitz
Thu Jan 03, 2013 9:16 pm
 
Forum: Personal Consumer Issues
Topic: buying a home safe for valuables
Replies: 17
Views: 1658

question about loaning money/tax implications

ok I don't have all the info, so please bare with me. ill try my best to describe the situation to the best of my knowledge. my dad is trying to get a loan for a house, but being retired he doesn't have much documented income recently. he found a bank that will give him a no-doc loan at a slightly h...
by schmitz
Wed Sep 12, 2012 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: question about loaning money/tax implications
Replies: 8
Views: 368

Re: do I have any options with my underwater condo?

I am not an attorney, but my situation is similar to OP's, and I've consulted attorneys and done lots of my own research. A few points: CA is a non-recourse state as long as the home is your principal residence (among other requirements). OP does not meet this requirement, so if he walks he can leg...
by schmitz
Thu Aug 16, 2012 8:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

It [condo fees] is extremely unfair to you, to condo owners in general, and to the California economy. That fee money could be put to much better use for, say, savings or spending at local businesses and communities. I hope you find a workable solution to your property liability. You will recover f...
by schmitz
Thu Aug 09, 2012 7:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

thanks - a real estate attorney would be best i assume? Yes. Worth their weight in gold. Could save you many years of grief, and a lot of money, to ensure the transaction documents absolve you of any liability. You want to avoid something like this: http://www.usatoday.com/money/economy/housing/201...
by schmitz
Thu Aug 09, 2012 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

whoa...barely can understand that but if im reading it correctly, because I did refi from my original loan, the state of CA can come after me for any difference if I walk away? Read the word "but" again. Then read "No deficiency shall be owed or collected" again. Busting Myths s...
by schmitz
Thu Aug 09, 2012 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

CA is a non-recourse loan unless you refi so if you short sale they cannot come after you for the deficiency. after a year it got re-fied to a 5/1 interest only ARM But: 580e. (a) (1) No deficiency shall be owed or collected, and no deficiency judgment shall be requested or rendered for any deficie...
by schmitz
Thu Aug 09, 2012 6:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

California is non-recourse. But you need to check if the refi put you on the hook personally for the mortgage note. Same thing for people who stupidly took HAMP modifications or other similar programs that put them on the hook personally, instead of taking advantage of the fact they reside in a non...
by schmitz
Thu Aug 09, 2012 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

I am basically in the same situation except I am still living in my condo and am not underwater as much now. My interest rate adjust every year and has slowly been going down since coming out of the first 5 years of the ARM. It is not worth refinancing now to a fix rate since my payment would go up...
by schmitz
Thu Aug 09, 2012 6:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

Getting this out of the way..... 1)Why did you buy another house if you already had a condo? 2) What is the answer you are looking for? Your LTV is too high so you cannot refi unless you pay down the mortgage. CA is a non-recourse loan unless you refi so if you short sale they cannot come after you...
by schmitz
Thu Aug 09, 2012 6:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Re: do I have any options with my underwater condo?

My thoughts are: 1. Check to see when and if California is a nonrecourse state. If it is, consider walking. 2. Sell the house and move back into the condo. 3. Sell condo and get second mortgage on the present home to pay off remaining condo debt. 4. Sell the condo and come to some sort of arrangeme...
by schmitz
Thu Aug 09, 2012 6:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

do I have any options with my underwater condo?

hope this is the right forum for this type of question...kind of long but any help is much appreciated. anyways, I bought a condo in southern california around 2006 or so for 412k (I think you all know where this is going). I put 25% down at the time (103k) and have never missed nor been late on a p...
by schmitz
Thu Aug 09, 2012 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: do I have any options with my underwater condo?
Replies: 23
Views: 1794

Nice job schmitz! This shows a lot of progress in thinking over your original post. 336k mortgage at 6.25% (5/1 arm which is to reset jan 1, 2012 – currently being rented out) This concerns me as it seems like a potential weakness in your financial plan. 6.25% is a high rate and it is getting ready...
by schmitz
Tue Sep 06, 2011 10:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

Ok I tried to take the advice and re-list our portfolio, goals, etc and put it all in one place – I hope this helps. Emergency funds = at least one years saved away Debt : 320k mortgage at 4.75% (30 year fixed) 336k mortgage at 6.25% (5/1 arm which is to reset jan 1, 2012 – currently being rented ou...
by schmitz
Mon Sep 05, 2011 7:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

schmitz, I think you need to do some reading and then come back and post your information again. You are going at things backwards - looking for a "good fund". What you need to do is make a plan, even the beginnings of a plan, and then find the funds that fit into that plan. ok sounds goo...
by schmitz
Sat Sep 03, 2011 2:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

dont get me wrong, yeah i hated seeing my TR 2040 go down a lot the last few months but it didnt bother me too much. When I asked how you reacted over the last 4 years, I meant during the last crash in 2007-08, not just the last few months (which has sort of been a downward slide, but certainly not...
by schmitz
Sat Sep 03, 2011 2:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

schmitz wrote:
our ROTHS total around 60k.
the SEP is about 13k.
her TSP is about 75k.


oops...i made a small mistake here.

ROTH = 47k
SEP = 13k
TSP = 75k

I counted the SEP in the ROTH calculation. so our ROTH is slightly lower than i previously estimated.
by schmitz
Fri Sep 02, 2011 10:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

Ok, your asset allocation is about 44/66, and that would be considered pretty conservative for your age. You said you were holding a lot of cash, were you referring to the G fund? unfortunately, no. her (my wifes) TSP is all just sitting in a G fund as a I assume its the standard allocation - ie, i...
by schmitz
Fri Sep 02, 2011 10:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

A couple of points-- First, you still have not provided enough information. We do not know your overall allocations to stocks vs non stocks. We know the TSP is G fund, but not how the SEP is allocated. the SEP and ROTHs are all in the 2040 vanguard target fund. 90% stocks, 10% bonds. Second, You ha...
by schmitz
Fri Sep 02, 2011 8:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

schmitz, I think you need to do some reading and then come back and post your information again. You are going at things backwards - looking for a "good fund". What you need to do is make a plan, even the beginnings of a plan, and then find the funds that fit into that plan. ok sounds goo...
by schmitz
Fri Sep 02, 2011 8:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

Generally speaking, for any investment you make you must be prepared to see the value drop considerably, it is possible for the value to decline to zero. thats not what i wanted to hear...i can take fluctuations in value (even large ones) but to drop to 0? scary to think about. if it drops to 0, th...
by schmitz
Thu Sep 01, 2011 10:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498

Desired Asset allocation: not sure. just trying to figure out the best place to put our money long term. This is the most important decision you need to make, and no one can make it for you. It's probably best if you stay in cash for the moment while you read a few books on the suggested reading li...
by schmitz
Thu Sep 01, 2011 9:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: rookie investor looking for help
Replies: 36
Views: 2498
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