Search found 896 matches

by Leemiller
Sun Feb 18, 2018 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 87
Views: 6174

Re: Why paying off loans would be better than fully funding 401k?

You’re destroying your cars. Anyway to move? At least talk to a realtor? The expenses you’ve listed are high but mostly due to past consumption. Something needs to give mainly because you have a 17 year old and no plan for college. Maybe you can rethink employment. If you can get things under contro...
by Leemiller
Sun Feb 18, 2018 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 87
Views: 6174

Re: Why paying off loans would be better than fully funding 401k?

We have a similar income and also didn’t really make $ until about 30, I also grew up in a family with money problems. First go ahead and spend some money ordering books so that you can highlight, tab and reread them. Millionaire Next Door, Dave Ramsey and there are some other Booglehead recommended...
by Leemiller
Sun Feb 18, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Why pay off the mortgage with life insurance?
Replies: 6
Views: 637

Re: Why pay off the mortgage with life insurance?

My husband and I each have a stand-alone policy that would pay off the mortgage and cover at least state school for the kids should something happen to either one of us. We also have insurance at work. While it may be that we’d want to move, I think it’s nice not to have to be forced to move. Especi...
by Leemiller
Fri Feb 16, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Help Finding DC Int'l Org. Accountant
Replies: 2
Views: 194

Re: Help Finding DC Accountant

Try posting on the DC urban moms website/forum or checks with collegues if you are somewhere like the World Bank.
by Leemiller
Fri Feb 16, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 6377

Re: How to get child's skin in the game for college?

I think parents who tell their children to just take out student loans do them a huge disservice. If you’re balking at the price, and college is expensive, have your kid go to community college the first two years and then transfer. Maybe require a job or internship during the school year and summer...
by Leemiller
Sun Feb 04, 2018 7:06 pm
Forum: Investing - Help with Personal Investments
Topic: Need some advice on my financial situation
Replies: 21
Views: 1363

Re: Need some advice on my financial situation

I would never add that kind of commute to save 1k a month given your circumstances. It will be a huge drain and prevent you from staying later and arriving earlier when needed. Also, it will be harder to date or see friends after work. I would immediately sell the company stock, since my understandi...
by Leemiller
Sun Feb 04, 2018 11:17 am
Forum: Investing - Help with Personal Investments
Topic: Can I afford this home?
Replies: 25
Views: 1792

Re: Can I afford this home?

First question is how you got to that net worth at your age with your income? It seems very high to me. I can only say that price range was outside what we considered after looking at payments vs income, and we were around in your income range when we bought a couple of years ago. We bought about 1/...
by Leemiller
Sat Feb 03, 2018 10:04 pm
Forum: Investing - Theory, News & General
Topic: Request perspective on career, life, and finance
Replies: 16
Views: 3391

Re: Request perspective on career, life, and finance

I’m not sure how a company that consistently pays under market will attract and retain top talent in the long run. It seems that you do run the risk of this company failing. Perhaps just look around and see what other opportunities are there. I’m in a very different field, but it has seemed to me th...
by Leemiller
Sat Feb 03, 2018 9:46 pm
Forum: Investing - Theory, News & General
Topic: Amazon Stock - Can this giant be stopped?
Replies: 66
Views: 3972

Re: Amazon Stock - Can this giant be stopped?

I don’t trust Amazon for certain products, given the counterfeit and second rate goods on the site. Also, so many fake reviews! For toys, they are often more expensive than other options - especially it seems around the holidays. And I can get cash back at Walmart with two day shipping for many thin...
by Leemiller
Fri Feb 02, 2018 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Should I stop contributing to 401(k) to pay off debt
Replies: 44
Views: 2430

Re: Should I stop contributing to 401(k) to pay off debt

Op, you could also consider a Roth IRA contribution for last year for some of your emergency funds - maybe even the full 5,500. That way if you needed the money, you wouldn’t take a hit and you’d feel better about dropping the 401k for the time being.
by Leemiller
Fri Feb 02, 2018 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Should I stop contributing to 401(k) to pay off debt
Replies: 44
Views: 2430

Re: Should I stop contributing to 401(k) to pay off debt

I used to pay a little off on various debts until I decided to get focused on one, only paying the minimum on others. I strongly recommend this approach and wish I would have done it earlier myself. I think your emergency fund is somewhat high, given some of the emergencies listed could be financed ...
by Leemiller
Tue Jan 30, 2018 9:09 am
Forum: Personal Consumer Issues
Topic: Certified Used BMW, Audi or Mercedes
Replies: 53
Views: 3921

Re: Certified Used BMW, Audi or Mercedes

We bought a CPO Mercedes in the fall, now we are planning a second one to replace our Honda. So far it has been a great car and worth the upgrade.
by Leemiller
Wed Jan 24, 2018 8:43 am
Forum: Investing - Help with Personal Investments
Topic: am I crazy to do a lump sum investment with my entire retirement in this current stock market?
Replies: 47
Views: 5815

Re: am I crazy to do a lump sum investment with my entire retirement in this current stock market?

I think you and your husband could benefit greatly from reading the Bogleheads books and the free info posted on the wiki page. I also think hiring a flat fee based financial advisor would be well worth your money. Your husband is giving unsecured loans using 401k money? What is he going to do if th...
by Leemiller
Mon Jan 22, 2018 10:00 pm
Forum: Personal Consumer Issues
Topic: How much house can we afford (Madison WI area)?
Replies: 25
Views: 2324

Re: How much house can we afford (Madison WI area)?

I would not buy a home to renovate if possible. It is expensive, time consuming, and stressful. Childcare costs can be a second mortgage, so perhaps wait another year and really save up. Alternatively rent for a little while after your child is born with the goal of purchasing a single family home.
by Leemiller
Thu Jan 18, 2018 7:49 am
Forum: Investing - Theory, News & General
Topic: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?
Replies: 121
Views: 7564

Re: $399 - New Course - Fire your Financial Advisor - By WhiteCoat Investor - Anyone?

Here’s a tip on how to fire your financial advisor. Pick up the phone and call Vanguard- tell them you want to move all of your assets to them in-kind. After the assets have been moved, call the financial adviser or drop them an email - You’re FIRED! $399 sounds a bit over the top, but then again I...
by Leemiller
Tue Jan 09, 2018 8:06 am
Forum: Personal Consumer Issues
Topic: The "Forever Home" Myth: Should I Plan on Buying 2 Homes?
Replies: 36
Views: 3408

Re: The "Forever Home" Myth: Should I Plan on Buying 2 Homes?

“Forever home” is often used to justify stretching for a home purchase. That extra cost becomes ok because it’s forever!
by Leemiller
Sat Jan 06, 2018 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Million Dollar Refi Q
Replies: 12
Views: 1444

Re: Million Dollar Refi Q

Too bad you didn’t refi last year. My bet is you will be subject to a max of 750k. You don’t have a mortgage of 1m, you have a mortgage and a HELOC and HELOCs are no longer tax deductible.
by Leemiller
Fri Jan 05, 2018 8:26 pm
Forum: Investing - Theory, News & General
Topic: So ambitious w/ money but so risk-averse
Replies: 31
Views: 3156

Re: So ambitious w/ money but so risk-averse

I don’t seem ambition, I see unfocused daydreaming without putting in the worK. You’re close to the age I finished law school. Just pick something already.
by Leemiller
Tue Jan 02, 2018 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Embarrassment Preventing Retirement Work: A factor for you?
Replies: 133
Views: 13039

Re: Embarrassment Preventing Retirement Work: A factor for you?

I’d look into volunteering. Based on what I’ve observed those who don’t need the money and volunteer seem happier than those who don’t need the money and work. But my perception is a bit skewed by watching some wealthy family members act stingy and miserly about money at the point at which they had ...
by Leemiller
Sat Dec 30, 2017 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Another should i buy my dream porsche thread...
Replies: 240
Views: 11238

Re: Another should i buy my dream porsche thread...

I wonder how many of the people who say the OP can afford it make an income/ have a net worth around that range. I remember my mother telling me I could afford a 10k bed and 6k wedding dress (neither of which I bought) when I first hit six figures in income, I just don’t think most people understand...
by Leemiller
Fri Dec 29, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Another should i buy my dream porsche thread...
Replies: 240
Views: 11238

Re: Another should i buy my dream porsche thread...

The only people I know with six figure cars are multi-millionaires. Actually most of the multi millionaires I know don’t have six figure cars. I don’t think you can afford this at all. It is pure insanity to me. For what it’s worth our household income and net worth are higher. My splurge was a low ...
by Leemiller
Wed Dec 27, 2017 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Upsizing Real Estate for Location/Ease
Replies: 14
Views: 1223

Re: Upsizing Real Estate for Location/Ease

I’d move if I was in your shoes. It’s not as if your net worth will be static from this point forward. 25% seems fine, so does 35% because you’ll be back to 25% again anyways.
by Leemiller
Wed Dec 27, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: car thread- too much money?
Replies: 85
Views: 7159

Re: car thread- too much money?

We have a net worth over a million, make more, and just bought a CPO Mercedes for the low 40s all-in. Cars are a drain since they depreciate, so this is one area we’ve been frugal in until now. The problem with cars is usually people also want the house, the furniture, the vacations, it doesn’t usua...
by Leemiller
Wed Dec 27, 2017 9:19 am
Forum: Personal Finance (Not Investing)
Topic: car thread- too much money?
Replies: 85
Views: 7159

Re: car thread- too much money?

Income next year 255k student debt 300 at 3.4% net worth- 0 now currently drive a honda but on its last legs and prob wont last plan to buy 2 cars subaru outback at 38k (with 5 down) and toyota camry at 29k plan to finance 5 year purchase at approx 6k each year per car goal is to save 80k each year...
by Leemiller
Wed Dec 27, 2017 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Can I afford a $600-650k house?
Replies: 60
Views: 6956

Re: Can I afford a $600-650k house?

Wait until you are married to purchase anything and relax, if anything prices may feel some downward pressure given the tax changes. I would say things were already slowing down in my close-in and expensive suburb before the law was passed. Also, if you are planning on kids, I know some families who...
by Leemiller
Wed Dec 06, 2017 1:07 pm
Forum: Personal Consumer Issues
Topic: Dad Needs Help Buying Wedding Liquor
Replies: 71
Views: 6926

Re: Dad Needs Help Buying Wedding Liquor

Just don’t buy well alcohol or Kirkland branded. Some good brand names listed in the advice. One signature drink can be fun and also may also some advance preparation.
by Leemiller
Wed Dec 06, 2017 8:19 am
Forum: Investing - Help with Personal Investments
Topic: Mortgage Payoff Question in HCOL area
Replies: 12
Views: 1534

Re: Mortgage Payoff Question in HCOL area

I would never rely on access to a HELOC given how they were frozen in the financial crisis, when many were hoping to rely on them. You could pay off the loan using a 15-20 year schedule to save on interest. I would question your figures on how much your saving. It looks high for a 4% mortgage to me....
by Leemiller
Mon Dec 04, 2017 8:45 am
Forum: Personal Consumer Issues
Topic: How to convince DW that high miles used car is OK
Replies: 106
Views: 7163

Re: How to convince DW that high miles used car is OK

I have a Honda for you, once I pry it from my husband.
by Leemiller
Sat Dec 02, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Lost my job; use part of emergency fund to pay down HELOC?
Replies: 20
Views: 1936

Re: Lost my job; use part of emergency fund to pay down HELOC?

Personally, I wouldn’t do anything, including your January plans, until you were reemployed.
by Leemiller
Wed Nov 29, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: When to tell the SO about my financial situation?
Replies: 109
Views: 6034

Re: When to tell the SO about my financial situation?

If she was my friend, I’d tell her that she should wonder why she’s dating someone who lies and values money over her. And also that she’d be better off with someone closer to her age. You’re living together, duh of course she’s looked at your stuff. And you lied, and she knows it - don’t delude you...
by Leemiller
Tue Nov 28, 2017 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 8659

Re: Too much house, right?

Property taxes, insurance - homeowners, car, umbrella liability, perhaps flood or earthquake -, medical and dental costs, utilities, food, clothing, those will make mincemeat of that $5K a month. Depends on the rates for everything. Using mine (and one other since my food costs are likely way diffe...
by Leemiller
Mon Nov 27, 2017 12:06 am
Forum: Personal Consumer Issues
Topic: Furniture
Replies: 22
Views: 2038

Re: Furniture

I plan on keeping furniture purchases for about 10 years and budget accordingly. That way we buy nice but not so nice that I worry that this is the only dresser I can own for the rest of my life or omg someone is sitting on my $$$$ couch. I tend to buy higher end brands like Baker or Century on disc...
by Leemiller
Sun Nov 26, 2017 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 8659

Re: Too much house, right?

My vote is too expensive. You can only squeeze into this if you get a 30 year mortgage. You’re relying on one income and plan to have four kids? 3k a year won’t even cover state school, and you’ll still be paying off that mortgage when your kids are in school, so how are you going to help them pay f...
by Leemiller
Mon Nov 20, 2017 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should we buy term life insurance?
Replies: 24
Views: 2498

Re: Should we buy term life insurance?

You are spending so little vs your portfolio size that if anything happened, you’d be fine, the kids would be fine. I don’t see the need for it in your case.
by Leemiller
Thu Nov 16, 2017 11:15 pm
Forum: Personal Consumer Issues
Topic: Black Friday Deals/Holiday Gift Ideas
Replies: 57
Views: 8166

Re: Black Friday Deals/Holiday Gift Ideas

We went deep sea fishing in Alaska about 15 years ago. Caught a bunch and had Jerry's Meat and Seafood in Juno smoke and ship. We splurge every Christmas and place a big order with them. They ship it overnight to our doorstep and we enjoy it all season long. You've never tasted salmon or smoked sal...
by Leemiller
Sun Nov 12, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Another "Can We Afford This House" ?
Replies: 28
Views: 2831

Re: Another "Can We Afford This House" ?

I would say it depends on how expensive private school is. Your monthly expenses are already very high with a smaller mortgage. Is this a 40k a year private school x2? If the private school is really high, my vote is no.
by Leemiller
Sun Nov 12, 2017 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Rapidly pay down student loans prior to house?
Replies: 24
Views: 1833

Re: Rapidly pay down student loans prior to house?

Pay off the student loans and save agreessively to have a smaller mortgage. I sort of get the feeling a 400k mortgage on your salaries is a stretch given that you’ve been living rent free with you in laws for a few years and the amount you’ve saved. Also, you need to be contributing to your wife’s R...
by Leemiller
Tue Nov 07, 2017 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Disposable income... how?
Replies: 106
Views: 10595

Re: Disposable income... how?

Drop your savings rate to 15-20%, pay off your payments, and take your wife out to dinner without making her compromise on an entree that you both want. Payments make you feel poorer and so does debt. Notice that the forum doesn’t have a lot of people posting about using zero percent credit cards as...
by Leemiller
Sun Nov 05, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting with significant other
Replies: 26
Views: 2417

Re: Budgeting with significant other

Just make sure that you’ve spoken to an attorney to set yourself up in the event of death, disability or otherwise a dissolution of your partnership.
by Leemiller
Mon Oct 30, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Before Student Loans Are Paid Off?
Replies: 6
Views: 811

Re: Mortgage Before Student Loans Are Paid Off?

I wouldn’t buy a property for a child that isn’t here yet. You just don’t know the timing, and while I hope everything goes smoothly, sometimes it doesn’t. Also, I’m not crazy about a starter condo when the goal is a SFH. I’ve also only met one person who was happy to have bought a condo, and they b...
by Leemiller
Sun Oct 29, 2017 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: we bought a house - are we housepoor now?
Replies: 195
Views: 10478

Re: we bought a house - are we housepoor now?

John Laurens wrote:
Sun Oct 29, 2017 3:41 pm
If you either have kids or are planning on kids, you are definitely house poor.

Regards,
John
+1

Agree.
by Leemiller
Sat Oct 28, 2017 11:00 am
Forum: Personal Consumer Issues
Topic: bedroom color-current trend?
Replies: 55
Views: 3403

Re: bedroom color-current trend?

I like Maria Killam's blog and her online books. Well worth buying in my opinion. I have some stronger Farrow and Ball colors but also used Pale Oak by Benjamin Moore throughout my house. It is a warm greige color. We don't get tons of light and our floors are a medium tone hardwood. What some of yo...
by Leemiller
Sat Oct 28, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 8467

Re: Can I retire today?

I agree with KlangFool. If it was me, I would contact the union, EEOC office and/or HR. I would also have emailed back that his email was harassment and appears to be retaliation for you taking your legally entitled leave. It is beyond me why you would let someone bully you like this. For the record...
by Leemiller
Sat Oct 28, 2017 7:15 am
Forum: Personal Finance (Not Investing)
Topic: My fear about buying a house justified?
Replies: 72
Views: 6681

Re: My fear about buying a house justified?

Op, you and your spouse need to learn about the Thrift Savings Plan. It is not 3% returns. Mine is over 15% this year (I invest in a couple of funds). There is also a significant employer match. Some agencies also offer a 401k with match. One option is for you to work more that would increase your h...
by Leemiller
Sat Oct 28, 2017 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Sanity Check - Would like to pay off mortgage early
Replies: 35
Views: 3267

Re: Sanity Check - Would like to pay off mortgage early

I would max the Roth for you and your wife. Psychologically, I think this move will also be very meaningful for your stay at home spouse. That alone to me is worth it. The Roth is also a backup emergency fund. Much easier to assess than home equity. You're already 3.5 years into a 15. So you're real...
by Leemiller
Sun Oct 22, 2017 11:30 am
Forum: Investing - Theory, News & General
Topic: When one reaches the 1 million mark what to do with all the money?
Replies: 33
Views: 6782

Re: When one reaches the 1 million mark what to do with all the money?

Money in a safe deposit box is not under Fdic deposit Insurance as far as I know. We added some umbrella insurance, a small position in gold which I may increase. Our home is expensive but we live in a HCOL. No other real estate at this time but maybe in the future. We have multiple accounts at diff...
by Leemiller
Fri Oct 20, 2017 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: just hit the two comma club today...some thoughts
Replies: 37
Views: 5981

Re: just hit the two comma club today...some thoughts

Congratulations! That kind of investment starts to do some heavy lifting for you!

Are you going to celebrate?
by Leemiller
Wed Oct 18, 2017 7:12 am
Forum: Investing - Help with Personal Investments
Topic: Deciding between Roth TSP and Trad TSP
Replies: 26
Views: 1799

Re: Deciding between Roth TSP and Trad TSP

In a higher bracket I chose the regular because I'd rather get the tax break now. If my tax bracket is high or as high in retirement, I can think of worse problems.
by Leemiller
Mon Oct 16, 2017 7:37 am
Forum: Investing - Help with Personal Investments
Topic: Thinking we are close to winning the game
Replies: 40
Views: 7277

Re: Thinking we are close to winning the game

Have you considered getting a different job(s)? I saw a chart in a book once that showed how brutal entering retirement during a market downturn can be on a portfolio compared to a portfolio with the same average return that started with positive returns. I think it's fair to say that a market corre...
by Leemiller
Sat Oct 14, 2017 10:01 am
Forum: Personal Consumer Issues
Topic: Washington DC Trip
Replies: 25
Views: 2004

Re: Washington DC Trip

Agree that you are staying very far out and that foggy bottom isn't a good stop for the sights. I would put in a plug for walking around the DuPont Circle area, maybe stopping by the Phillips Museum, Kramer's books and afterwards cafe, Moby Dick's house of kabobs... If you really want shopping thoug...