Search found 1706 matches

by Meg77
Mon Mar 27, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: help? 401k rollover to ROTH IRA, quite confused
Replies: 9
Views: 409

Re: help? 401k rollover to ROTH IRA, quite confused

Uh oh. Did the former employer send the proceeds to YOU rather than directly to Vanguard? If so, then they probably withheld 20% for income taxes since technically they were making an early distribution to you. You can still rollover the fund to an IRA at Vanguard, but you have to roll the entire ba...
by Meg77
Mon Mar 27, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Considerations in House Buying
Replies: 5
Views: 515

Re: Considerations in House Buying

It totally depends on your local market. If you live in a low cost of living area it can be cheaper to own versus renting a comparable place. In many major cities though it's the opposite (especially cities with rent controls). Since you're researching, check out this blog: http://www.millennial-rev...
by Meg77
Mon Mar 27, 2017 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with allocation or low-risk alternative (LONG!)
Replies: 6
Views: 283

Re: Need help with allocation or low-risk alternative (LONG!)

I think you have a good asset allocation. As time goes on and interest rates rise, you might move some of your holdings into higher earning CDs, muni bonds, or individual bonds. But for simplicity, cost effectiveness and efficiency, you can't really beat what you've got. 50% stocks and 50% bonds is ...
by Meg77
Mon Mar 27, 2017 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Your Experiences with Risk Tolerance and having smaller versus larger account balances
Replies: 24
Views: 1693

Re: Your Experiences with Risk Tolerance and having smaller versus larger account balances

I have had a very similar experience. It's definitely different to see your portfolio dip over $30K on a bad day - more than what many Americans earn in an entire year, I always think. I was in 100% stocks (or very close to) through my first decade of investing. Then I moved to 15% bonds I think it ...
by Meg77
Mon Mar 27, 2017 10:24 am
Forum: Investing - Help with Personal Investments
Topic: Single Fund Portfolio in Roth IRA
Replies: 16
Views: 970

Re: Single Fund Portfolio in Roth IRA

I invested in only one fund in my Roth IRA at Vanguard (the total stock market fund) so that I could qualify for admiral shares sooner (which require $10,000 in each fund). Asset allocation - and for that matter fees - aren't really a huge deal until you have over $50K or so invested, especially if ...
by Meg77
Mon Mar 27, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Girlfriend
Replies: 86
Views: 6157

Re: Massive Student Loan Debt - Girlfriend

This would not be an immediate deal breaker for me since she is otherwise very frugal and responsible with money - and also because she sees the debt as an issue and is doing her best to minimize the impact of it. However, I am not sure "her best" is quite good enough. Sitting around for 1...
by Meg77
Sun Mar 26, 2017 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance (LTCI): Too Expensive or Worth the Cost?
Replies: 20
Views: 1907

Re: Long Term Care Insurance (LTCI): Too Expensive or Worth the Cost?

Heck. No. First of all, you don't need to buy LTCI until you are 60 years of age or older, as you have a less than 1% chance of needing it prior to then. For a healthy woman I might even wait until 65. But even then I err on the side of not recommending it because the premiums could double every yea...
by Meg77
Sun Mar 26, 2017 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: We max out 401k, Roth IRAs, HSA, but still lost...
Replies: 12
Views: 1727

Re: We max out 401k, Roth IRAs, HSA, but still lost...

Yes, the three fund portfolio is ideal for all account types. Remember that your total asset allocation is a global thing to calculate - it's not specific to individual accounts. In other words, each account you have doesn't have to be perfectly balanced to your target asset allocation. You might ha...
by Meg77
Sun Mar 26, 2017 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: We max out 401k, Roth IRAs, HSA, but still lost...
Replies: 12
Views: 1727

Re: We max out 401k, Roth IRAs, HSA, but still lost...

It sounds like you guys are doing great! You could save a bit on fees to switch from target date funds to individual index funds in your Roths (not sure what other 401k options there are, but there's probably at least one cheaper index fund there too). It's not a huge deal, and it takes a bit more e...
by Meg77
Sun Mar 26, 2017 2:02 pm
Forum: Personal Consumer Issues
Topic: Bank mobile e-payment to another person. Good as it seems?
Replies: 14
Views: 632

Re: Bank mobile e-payment to another person. Good as it seems?

My credit union is now using Pop Money. I just received a fund transfer from a friend for a houseboat rental we're arranging for this summer. No fees, one day delay between his transfer and my receipt. I assume they make money on the float. I also have refused to link a bank account to Pay Pal - ju...
by Meg77
Sun Mar 26, 2017 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have enough? How I realized yeah I do.
Replies: 73
Views: 10718

Re: Do you have enough? How I realized yeah I do.

I don't think I'll ever quit enjoying an update to my spreadsheets, but it's slowly dawning on me that I probably don't have to worry much about money (whether I will or not is to be determined). I compulsively update my net worth spreadsheet much more often than monthly, and it's been very depress...
by Meg77
Sat Mar 25, 2017 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: Advisor suggested this - Good idea?
Replies: 41
Views: 2462

Re: Advisor suggested this - Good idea?

Your advisor recommended a perfectly good plan for reaching a specific goal. But you admit that the "real issue" is that your wife doesn't think you need any remodel at all, and you think that you need a $75,000 remodel. That is a large discrepancy. You guys don't agree on the goal, and no...
by Meg77
Sat Mar 25, 2017 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have enough? How I realized yeah I do.
Replies: 73
Views: 10718

Re: Do you have enough? How I realized yeah I do.

I don't think I'll ever quit enjoying an update to my spreadsheets, but it's slowly dawning on me that I probably don't have to worry much about money (whether I will or not is to be determined). I compulsively update my net worth spreadsheet much more often than monthly, and it's been very depressi...
by Meg77
Fri Mar 24, 2017 11:24 am
Forum: Investing - Help with Personal Investments
Topic: How to invest if you are not sure about your income?
Replies: 12
Views: 766

Re: How to invest if you are not sure about your income?

You should have different "buckets" based on your different goals and objectives. Since your income is volatile I would keep at least 6 months of expenses in cash in a bank account or savings account. That is your "emergency fund" bucket. Then with at least 10% of your income, I ...
by Meg77
Fri Mar 24, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Help: Suggestions for converting HELOC to fixed rate loan
Replies: 2
Views: 172

Re: Help: Suggestions for converting HELOC to fixed rate loan

The easiest solution would be to do this with your current lender; they may not require a new appraisal or even new title work if they can "modify" the terms of the loan without doing a full refinance. However you may have to refinance in order to change the rate from floating to fixed (at...
by Meg77
Fri Mar 24, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 2949

Re: Mortgage APR 4.96% - too high?

Mortgage banker here. It pays to shop around in your case given that you are on the bubble with your credit scores and also your down payment desires. Lenders use different risk categories for different variables to determine pricing. For example some lenders may look at a down payment of 0-5% as t...
by Meg77
Thu Mar 23, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage APR 4.96% - too high?
Replies: 58
Views: 2949

Re: Mortgage APR 4.96% - too high?

Mortgage banker here. It pays to shop around in your case given that you are on the bubble with your credit scores and also your down payment desires. Lenders use different risk categories for different variables to determine pricing. For example some lenders may look at a down payment of 0-5% as th...
by Meg77
Thu Mar 23, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 893

Re: Stay & remodel vs. Move - North Dallas

I live in Dallas with family in McKinney (Frisco ISD). So I don't know a ton about AISD or Lovejoy from personal experience, but it seems like the school districts are a wash - at least for now until your girls get a bit older and their interests, aptitudes and challenges emerge. Also I respect your...
by Meg77
Mon Mar 20, 2017 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: What would it take to buy a house in our neighborhood?
Replies: 20
Views: 1371

Re: What would it take to buy a house in our neighborhood?

You guys seem to be doing quite well! I think you can certainly afford a $900K to $1M price home, although it would of course be a change for your budget. It would be better/ideal if you can save another $80K and have a 20% down payment, but I think it's OK to start looking and get familiar with the...
by Meg77
Mon Mar 20, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1102

Re: Wife going back to school. What financial steps should I take?

I would think long and hard about this. I know several licensed psychologists who make well under 6 figures and do side hustles like teaching yoga to try to make ends meet, despite having a laundry list of prestigious degrees that took many years and many thousands of dollars to obtain. If increasi...
by Meg77
Mon Mar 20, 2017 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: rental property expense question
Replies: 12
Views: 1323

Re: rental property expense question

I'm no tax expert, so a CPA would be the best person to answer your question. But I own a bunch of rentals and generally expense everything that isn't a specific capital improvement or replacement (new roof, upgraded counters/fixtures, etc.). Adding insulation, re-sealing some areas, and various oth...
by Meg77
Mon Mar 20, 2017 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1102

Re: Wife going back to school. What financial steps should I take?

I would think long and hard about this. I know several licensed psychologists who make well under 6 figures and do side hustles like teaching yoga to try to make ends meet, despite having a laundry list of prestigious degrees that took many years and many thousands of dollars to obtain. If increasin...
by Meg77
Sun Mar 19, 2017 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Personal finance planning
Replies: 13
Views: 1103

Re: Personal finance planning

My initial reaction is that this family should be able to save/invest quite a lot more money and be able to retire a lot sooner if they wanted to. I think that's an important choice. Were their some student loans or some other huge expense not mentioned? Agreed. If your annual expenses are only $75...
by Meg77
Thu Mar 16, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: conflict of interest [CFA vs. fiduciary]
Replies: 27
Views: 1906

Re: conflict of interest [CFA vs. fiduciary]

The fiduciary rule only states that the fees charged must be "reasonable" with no definition of what that is. Are 5% loads with 1% ers and 1% aum reasonable? Bogleheads would say no, but many others would say yes. It will take a while for this to shake out. Just off the top of my head, I ...
by Meg77
Thu Mar 16, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Roth and Marriage ?
Replies: 12
Views: 1472

Re: Roth and Marriage ?

Practically speaking it is nearly impossible to keep retirement assets as separate property, especially if you are making ongoing contributions. In most states income earned during the marriage is considered joint/marital, and that includes dividends and capital gains. So if those are being reinvest...
by Meg77
Wed Mar 15, 2017 4:34 pm
Forum: Investing - Theory, News & General
Topic: Do many banks "secretly" have private deposit insurance covering excess above $250,000?
Replies: 51
Views: 5500

Re: Do many banks "secretly" have private deposit insurance above $250,000?

Just to be clear about my own question... suppose you have a normal FDIC-insured bank and you put $400,000 into one, ordinary, single account. Thus, $250,000 is insured by the FDIC and $150,000 is not insured by the FDIC. The bank rep was suggesting that some banks have a situation that is exactly ...
by Meg77
Wed Mar 15, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: conflict of interest [CFA vs. fiduciary]
Replies: 27
Views: 1906

Re: conflict of interest

CFAs are not required to be fiduciaries as are CFPs. A CFA may say he acts as a fiduciary, but there is no obligation. Recommending LPL tells you the answer. Paul This isn't necessarily true. RIAs (Registered Investment Advisors) are required to be fiduciaries, so if this CFA happens to be an RIA t...
by Meg77
Tue Mar 14, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Looking for direction...two years later
Replies: 18
Views: 1802

Re: Looking for direction...two years later

2. Upgrade your car. You can afford it x 100, you want to, so do it. What's money for if not to buy some of the things you want? You don't have to wait for the wheels to fall off before moving up slightly in car. Hmm...I wasn't expecting this response. I thought the general consensus around here is...
by Meg77
Mon Mar 13, 2017 3:04 pm
Forum: Personal Consumer Issues
Topic: gratuitous homeownership items
Replies: 218
Views: 16755

Re: gratuitous homeownership items

. . .But mostly we want better outdoor space with a view. It's encouraging to hear all of the comments hear about how that doesn't really get old. We have a nice view of our own, but even though our neighbor is a lawyer, he can't charge us for the borrowed view of his pond that we see out our bedro...
by Meg77
Mon Mar 13, 2017 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: How to tackle fiancee's student loan debt
Replies: 33
Views: 2508

Re: How to tackle fiancee's student loan debt

I agree with the post above about not paying any expenses of your fiancé until you guys are married. I worked with a guy that supported his fiancé all the way through pharmacy school only for her to move on to someone else after she graduated. Couldn't the same thing have happened if they were marr...
by Meg77
Mon Mar 13, 2017 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage/Escrow question
Replies: 21
Views: 1183

Re: Mortgage/Escrow question

This has got to be some weird mistake. As a banker who does a lot of mortgages, I can assure you that you would have to be VERY involved and sign all kinds of documentation for any kind of refinance. Even simple changes to mortgages (like doing a recast or amending the maturity date without doing a ...
by Meg77
Mon Mar 13, 2017 11:46 am
Forum: Personal Consumer Issues
Topic: gratuitous homeownership items
Replies: 218
Views: 16755

Re: gratuitous homeownership items

. . .But mostly we want better outdoor space with a view. It's encouraging to hear all of the comments hear about how that doesn't really get old. We have a nice view of our own, but even though our neighbor is a lawyer, he can't charge us for the borrowed view of his pond that we see out our bedro...
by Meg77
Mon Mar 13, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Looking for direction...two years later
Replies: 18
Views: 1802

Re: Looking for direction...two years later

You are doing great! But yes, I would make a few changes, including the ones you are mulling over. 1. Start maxing out a 401k, HSA (if you have access to one) and Roth IRA ASAP. You have one month left to contribute $5500 to a Roth IRA for 2016, and you can also put in $5500 for 2017 at the same tim...
by Meg77
Wed Mar 08, 2017 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Finally making money and need budget advice
Replies: 19
Views: 2127

Re: Finally making money and need budget advice

You are probably having too much in taxes withheld. This is common when a large portion of your income is bonus or commission. In any event, I would suggest the following: 1. Lower 401k contributions to 3%. 2. Max out a Roth IRA for 2016 by putting $5500 into an account prior to April 15th. 3. Pay o...
by Meg77
Wed Mar 08, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 6933

Re: How much do you spend on food in a year?

Do your numbers include alcohol? How many people are eating and drinking all that money? Just two? Or is that a lot of dinner parties? I think good healthy food is inexpensive because less people have touched it to get it to your table. I eat fish maybe 3 or 4 times a week. We don't drink that much...
by Meg77
Wed Mar 08, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: 21 Years Old, Financial Direction Help!
Replies: 13
Views: 704

Re: 21 Years Old, Financial Direction Help!

Welcome, and congrats on a great financial start! I think you need to first establish some goals. Getting a big head start on retirement savings is great, and you will never regret it. However I would not focus on that to the exclusion of other shorter term goals you may have, such as living on your...
by Meg77
Tue Mar 07, 2017 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with advice!
Replies: 11
Views: 710

Re: Need help with advice!

Hi! I would definitely prioritize Roth accounts if I were you. I did throughout my 20s in fact, and I'm so glad I did now (in my mid 30s). You're in the lowest tax bracket right now, and so it makes sense to pay the taxes on your contributions now and withdraw them later at (probably) higher tax rat...
by Meg77
Tue Mar 07, 2017 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Fincancial checklist for becoming a landlord in the future
Replies: 35
Views: 2305

Re: Fincancial checklist for becoming a landlord in the future

Hey there! I've got several rental properties, and I converted my old homestead to a rental as well so I know where you are coming from with this idea. I think it's a good one, and here are my thoughts. 1. You have plenty of time to read books/blogs about real estate investing and just start to beco...
by Meg77
Tue Mar 07, 2017 11:07 am
Forum: Investing - Help with Personal Investments
Topic: Possibly Financially Independent and Feeling Miserable
Replies: 153
Views: 15534

Re: Possibly Financially Independent and Feeling Miserable

Thanks for your post. I have struggled with your feelings on occasion, and I actually saw a therapist for a few sessions just over a year ago after meeting a lot of life and financial goals in a short amount of time. I realized my anxiety level was increasing as I checked the boxes on my goals. I wa...
by Meg77
Tue Mar 07, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Basic "what now?" question
Replies: 7
Views: 849

Re: Basic "what now?" question

I would do the following: 1. Go ahead and put $5500 in a Roth IRA for 2016. It's use it or lose it space. 2. Then build your EF up to $20K or even $25K. 3. Then pay off the 0% credit card debt before the intro period is up. 4. Then max out your Roth for 2017. 5. Then re-evaluate your situation. Boos...
by Meg77
Fri Feb 24, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a new house -- Are we being stupid to consider it?
Replies: 35
Views: 3990

Re: Purchasing a new house -- Are we being stupid to consider it?

Hey there! I get wanting to move for sure since you're in a town home with 2 kids. That'll get tight over time. But is the only other alternative a $900K SF home? I think you need to find some middle ground if you want to move now. I finance a lot of home construction - they almost always go over bu...
by Meg77
Fri Feb 24, 2017 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Ethical dilemma involving birthdays and wine..
Replies: 35
Views: 3576

Re: Ethical dilemma involving birthdays and wine..

As a member of the financial services industry who gives annual client gifts, I'm fairly certain he is aware that you are still on his list and getting this gift. Even if it's an automated system, he likely reviews and approves an annual list of recipients. I've never received a thank you note from ...
by Meg77
Thu Feb 23, 2017 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: Getting Serious About Retirement Savings/Investments
Replies: 15
Views: 1218

Re: Getting Serious About Retirement Savings/Investments

How much are the gains, if any in XOM? If you have losses or are flat, I would exit position and use proceeds to buy VTSAX. At the moment it's down. From December until today, it's gone from 92.50 to 81.37. The dividend is 3.71%. Global supply is unlikely to change substantially in the near term. W...
by Meg77
Thu Feb 23, 2017 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement savings: Lots of $, job prospects weak
Replies: 36
Views: 4023

Re: Retirement savings: Lots of $, job prospects weak

6. Talk to a CPA about whether your gambling earnings from last year count as earned income. If they do, or if you've set it up where your gambling efforts are basically like a small business, you may be eligible to at least make a couple of (backdoor) Roth IRA contributions for 2016 and 2017. Perh...
by Meg77
Thu Feb 23, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Wife discoverd UTMA account; Never received 1099s; Parents want it back
Replies: 21
Views: 2388

Re: Wife discoverd UTMA account; Never received 1099s; Parents want it back

I think you're right in your analysis of the situation and of the solution. If they want the money then fine; you didn't know about it anyway. But I'd definitely deduct whatever taxes you owe prior to giving the remainder to them. And yes, to avoid having to file it as a gift, each of you can give e...
by Meg77
Thu Feb 23, 2017 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement savings: Lots of $, job prospects weak
Replies: 36
Views: 4023

Re: Retirement savings: Lots of $, job prospects weak

Congratulations on your giant head start in life as far as accumulating assets goes. I understand your stress, particularly since you don't have a clear vision of where your life/career/income is headed at this point. That's difficult psychologically. But financially, you do not have many problems ...
by Meg77
Thu Feb 23, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Help analyzing retal duplex in rural Rome GA
Replies: 6
Views: 317

Re: Help analyzing retal duplex in rural Rome GA

Hey there! Congrats on looking at your first real estate purchase. I have four duplexes and a townhome rented out currently, which I bought through my 20's in the DFW area of Texas. I've been a landlord for over a decade now, and I have learned a lot of things the hard way - but it's been valuable. ...
by Meg77
Thu Feb 23, 2017 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Retirement savings: Lots of $, job prospects weak
Replies: 36
Views: 4023

Re: Retirement savings: Lots of $, job prospects weak

Congratulations on your giant head start in life as far as accumulating assets goes. I understand your stress, particularly since you don't have a clear vision of where your life/career/income is headed at this point. That's difficult psychologically. But financially, you do not have many problems r...
by Meg77
Wed Feb 22, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1826

Re: Life Changes - What Should My Next Monetary Goals/Objectives Be?

Wow, congrats on doing so well! You are on a great track, and as far as problems go "what should I do with all my extra money" is a great one to have. :) Here is what I would do: 1. Let your wife buy a new car. Pay cash. $20K maybe out of the six figure rainy day fund? You guys can afford ...
by Meg77
Wed Feb 22, 2017 2:27 pm
Forum: Personal Consumer Issues
Topic: Help Please, My Identity is at Risk
Replies: 26
Views: 3137

Re: Help Please, My Identity is at Risk

Personally I highly doubt that the burglars are going to look for, find or know how to use your tax returns and other personal information. Most people stealing laptops or phones are doing so simply to wipe the devices and resell them. Identity thieves have MUCH easier and more efficient ways to get...

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