Search found 34 matches

by AndyFromPennsylvania
Sun Nov 12, 2017 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

I looked up what dollar cost averaging is. Another person on here shared an interested article. I've been taking advantage of reading the books recommended on here. Any recommendation on how you learned how to implement dollar cost averaging with your accounts? It's really as simple as investing a ...
by AndyFromPennsylvania
Sun Nov 12, 2017 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

Without more info I would favor getting it all into the 401k over 2 years. You only have limited tax-advantaged space every year. I disagree with Stormbringer. No one knows what's going to happen in the future but the general trend of the market has been up, so in theory the earlier you invest the ...
by AndyFromPennsylvania
Sun Nov 12, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

I'll go against the grain here and recommend that you first pay off the car, and then apply what is left towards the student loans with a goal of paying those off ASAP. You could throw it all at your 401(k), but that is a one-time event and you wouldn't be dollar cost averaging. Rather, you would b...
by AndyFromPennsylvania
Sun Nov 12, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

Andy, With limited information we can only give limited advice. Considering your debts, I can assume cashflow is a very important to you two right now. So let me break down your options for you. 1) Invest the money in a retirement account or a taxable account. This will over long term more than lik...
by AndyFromPennsylvania
Sun Nov 12, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

If you use standard deduction, pay it towards the mortgage. If not, pay off the car, and increase your 401k contributions for the rest of the year and into next year. When you get right down to it, this isn't a lot of money, so it doesn't make a huge difference what you do. I would absolutely agree...
by AndyFromPennsylvania
Sun Nov 12, 2017 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Re: Which Debt to Payoff First?!

All - Thank you for the input. Reading your responses has been great, and much appreciated. I apologize for the delay, hectic last few weeks. My wife and really like the idea of paying off the car first. I am going to follow up with a few individuals responses. This forum is great, learning a few ne...
by AndyFromPennsylvania
Sun Nov 05, 2017 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Which Debt to Payoff First?!
Replies: 23
Views: 2009

Which Debt to Payoff First?!

Hey Bogleheads, need some advice. My wife and I are receiving $30k (after tax) from an estate of a deceased family member. Would appreciate some advice on how to use it best. I am 31 and my wife is in her late 20s. We recently became parents (4 month old) and home owners. I work full time and my wif...
by AndyFromPennsylvania
Wed Nov 01, 2017 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Have mother-in-law pay for mortgage?
Replies: 32
Views: 2600

Re: Have mother-in-law pay for mortgage?

As for taxes, if you report mortgage interest deduction then your mother-in-law has to report income. There is no win here and more hassle. I think you should just avoid all those legality if your mother-in-law decides to help you. Just make it a private loan of $130K with whatever interest rate yo...
by AndyFromPennsylvania
Wed Nov 01, 2017 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Have mother-in-law pay for mortgage?
Replies: 32
Views: 2600

Re: Have mother-in-law pay for mortgage?

To the OP, this can absolutely be done, whether it's a good idea or not depends. In your particular situation it does not seem worth the hassle, as is you are paying roughly $5,350 in interest for the year (offset by any itemized deductions you get). If you refinance through MIL you'd be paying rou...
by AndyFromPennsylvania
Wed Nov 01, 2017 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Have mother-in-law pay for mortgage?
Replies: 32
Views: 2600

Re: Have mother-in-law pay for mortgage?

I know a young woman who did this with her parents. I don't have the exact details but the parents (bank) had to set up an LLC or some sort of corporation in order for the interest that the daughter (homeowner) pays to the parents be deductible on her taxes. Also, the parents had to pay income tax ...
by AndyFromPennsylvania
Tue Oct 31, 2017 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Have mother-in-law pay for mortgage?
Replies: 32
Views: 2600

Re: Have mother-in-law pay for mortgage?

All good comments... and I see a common thread. Points taken. Thank you! :happy
by AndyFromPennsylvania
Tue Oct 31, 2017 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Have mother-in-law pay for mortgage?
Replies: 32
Views: 2600

Have mother-in-law pay for mortgage?

My wife and I are considering to make my mother-in-law a proposal. We currently purchased a home (6 months ago). The purchase price was $175,000. We have a 30 year mortgage of $130,000 at 4.125% (fixed). We were considering asking her to pay off the mortgage outright and we would pay her the money b...
by AndyFromPennsylvania
Tue Aug 08, 2017 8:32 pm
Forum: Investing - Help with Personal Investments
Topic: How to Start College Fund w/ Monetary Gifts
Replies: 1
Views: 230

How to Start College Fund w/ Monetary Gifts

We recently had a baptism for our first born daughter this past weekend. It was a great weekend with family and friends. We received $1,500 from various people towards our daughter's "savings/college fund". Looking for recommendations on how to invest this money. I am fairly new to the forum, so ple...
by AndyFromPennsylvania
Sat Jul 29, 2017 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

529 Question: My wife and I are getting some pressure from grandparents on how they can contribute to their granddaughter's college fund. My wife and I are tempted to open a 529 for the sake of not turning down free money from the grandparents. I suggested to my wife that we can also keep tally of t...
by AndyFromPennsylvania
Fri Jul 28, 2017 7:26 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

About I bonds I think you have to keep them at least 6 months and after that if you keep them less than 5 years you lose 6 months worth of interest. You have to keep them 12 months, and then if redeemed before 5 years you lose 3 months interest. Thanks. You are correct. More info here. https://www....
by AndyFromPennsylvania
Fri Jul 28, 2017 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

In another life maybe I would have been a financial planner, appreciate the positive reinforcement! Honestly, this site (and the wiki resource attached to it) is all you really need to understand investing for retirement. My favorites are the bogleheads guides to retirement and investing, Jack's to...
by AndyFromPennsylvania
Fri Jul 28, 2017 12:17 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I was struggling to find something like what you recommended because of the $10,000 minimum investment limit. Thank you so much for suggesting this! Also, when you said "ignoring ex-us" what does that mean? Did you happen to mean VTSAX instead of VTSMX? So a three-fund portfolio (three main categor...
by AndyFromPennsylvania
Fri Jul 28, 2017 12:13 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I'm new to the forum but have dealt with many of the issues the OP has dealt with over the years. I agree with those that say deemphasize 529s. If you have everything else taken care of, like retirement, debt paid off (except mortgage) then sure look into them. I have one myself. But when you consi...
by AndyFromPennsylvania
Thu Jul 27, 2017 9:32 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I am working on my retirement plan/financial plan; actually writing one out. I've relied on the Vanguard Retirement Income Calculator here: https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementIncomeCalc.jsf Any recommendations for better ones? I do like it, and it has se...
by AndyFromPennsylvania
Thu Jul 27, 2017 9:03 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I'm new to the forum but have dealt with many of the issues the OP has dealt with over the years. I agree with those that say deemphasize 529s. If you have everything else taken care of, like retirement, debt paid off (except mortgage) then sure look into them. I have one myself. But when you consi...
by AndyFromPennsylvania
Thu Jul 27, 2017 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

Hey Bogleheads! So I took a stab at asset allocation tonight. I am pretty excited about it, but want your opinions/suggestions. Thus far the information you all have shared has been great; I really appreciate it. Here is what I got: Value Fund Name E/R His 401k (Prudential) $53,900 Vanguard Institu...
by AndyFromPennsylvania
Thu Jul 27, 2017 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

mega317 wrote:
AndyFromPennsylvania wrote:
Total $92,200 0.29%
I think more meaningful would be a weighted average of ER. I come up with 0.076%. Very respectable indeed.
Good point! I got the same value; thanks!
by AndyFromPennsylvania
Wed Jul 26, 2017 10:01 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I'm new to the forum but have dealt with many of the issues the OP has dealt with over the years. I agree with those that say deemphasize 529s. If you have everything else taken care of, like retirement, debt paid off (except mortgage) then sure look into them. I have one myself. But when you consi...
by AndyFromPennsylvania
Wed Jul 26, 2017 9:45 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

Hey Bogleheads! So I took a stab at asset allocation tonight. I am pretty excited about it, but want your opinions/suggestions. Thus far the information you all have shared has been great; I really appreciate it. Here is what I got: Value Fund Name E/R His 401k (Prudential) $53,900 Vanguard Institut...
by AndyFromPennsylvania
Wed Jul 26, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

The asset allocation makes sense to me, the simplified approach (i.e. 3 fund portfolio), focusing on things I can control (tax efficiency) and sticking to my plan. To play "devil's advocate", is there "proof in the pudding" that this strategy works? In lieu of buying low and selling high (I know, i...
by AndyFromPennsylvania
Tue Jul 25, 2017 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

Asset allocation question: Since my entire portfolio consists of: 1. His company 401k 2. His personal ROTH IRA 3. Wife's personal Roth IRA Should I consider the total value of the portfolio in either pre-tax or post-tax monies? Would it be wrong to determine % of allocation based on face value? For ...
by AndyFromPennsylvania
Tue Jul 25, 2017 9:37 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

The asset allocation makes sense to me, the simplified approach (i.e. 3 fund portfolio), focusing on things I can control (tax efficiency) and sticking to my plan. To play "devil's advocate", is there "proof in the pudding" that this strategy works? In lieu of buying low and selling high (I know, i...
by AndyFromPennsylvania
Tue Jul 25, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

The asset allocation makes sense to me, the simplified approach (i.e. 3 fund portfolio), focusing on things I can control (tax efficiency) and sticking to my plan. To play "devil's advocate", is there "proof in the pudding" that this strategy works? In lieu of buying low and selling high (I know, it...
by AndyFromPennsylvania
Mon Jul 24, 2017 8:50 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

OP is for Original Poster. Easier to type on this iPad than your complete username :happy If, in the spirit of your thread title, you need help with retirement, you need to tackle 3 things, none of which currently include worrying about 529's: 1) Determine how much you can invest. This requires bud...
by AndyFromPennsylvania
Thu Jul 20, 2017 6:15 am
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

Why all the noise in this thread about 529's and UTMA's and such? OP needs to get the basics taken care of. Dialog about saving funds in a taxable UTMA for a child is silly if all tax advantaged space in 401k and IRA's is not being utilized. OP, 401k plans are all different. You need to read your p...
by AndyFromPennsylvania
Tue Jul 18, 2017 3:33 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

I understand personal finance just fine. We all look at finances at slightly different angles. My basic philosophy toward college is I want my kids to at least try to go to college, and if they succeed, I don't want them to have $190,000 in debt when they graduate. I know I can't count on the gover...
by AndyFromPennsylvania
Tue Jul 18, 2017 9:08 am
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

At mcraepat9: 2. I am making a 3% contribution to my 401k so I get the company match of 1.5%. Unfortunately my company only provides 1.5% at an employee contribution of 3%; no more. Then, I am maxing out my Roth IRA. I am not too experienced with 401ks, but I have an uneasy feeling maxing this out ...
by AndyFromPennsylvania
Tue Jul 18, 2017 7:03 am
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Re: Newbie and New Parent: Help w/ Retirement and 529

At Mortfree: 1. Thank you for the fund suggestions, very helpful, need to look into these. 2. Yes, have a HAS. Started this year with just $500 to see how it goes, how much we spend. 3. I have life insurance for myself through my employer. My wife does not have life insurance as she works part time....
by AndyFromPennsylvania
Sun Jul 16, 2017 9:34 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie and New Parent: Help w/ Retirement and 529
Replies: 65
Views: 4860

Newbie and New Parent: Help w/ Retirement and 529

Hey Bogleheads! This is my first post. I apologize ahead of time if my etiquette is lacking. Trying to learn/develop a plan for retirement as well as start saving for college. My wife and I are new homeowners and new parents as of this year. Knowing very little about investing and when the June 2016...