Search found 1875 matches

by Meg77
Tue Jun 27, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Consolidating banks accounts
Replies: 4
Views: 224

Re: Consolidating banks accounts

Hi there! I'm a banker in Dallas, so welcome to the neighborhood. First of all, I think having two individual checking accounts and a joint checking account and a joint savings account is overkill, at least for the long term. Especially since she is "not banking savvy" meaning having a bun...
by Meg77
Tue Jun 27, 2017 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest money from selling our house
Replies: 6
Views: 299

Re: How to invest money from selling our house

Sorry I forgot to add what you should do with the money instead!

1. Max out Roth IRAs for 2017 and beyond.
2. Max out a Roth Tsp plan for 2017 and beyond.
3. Pay off any consumer debt (and don't take out any more)
4. Go on a nice vacation and celebrate your stress free new rental lifestyle.

:)
by Meg77
Tue Jun 27, 2017 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest money from selling our house
Replies: 6
Views: 299

Re: How to invest money from selling our house

It sounds like you are thinking about all the right things! Personally I don't think buying a home is worth it if you will move again in 4 years. This is particularly true since you are a military family. I don't know where you are headed, but homes around military bases can be a lot harder to sell ...
by Meg77
Tue Jun 27, 2017 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: (Almost) every day I make a financial mistake more costly than the day before
Replies: 39
Views: 3369

Re: (Almost) every day I make a financial mistake more costly than the day before

I don't know your exact numbers, but if you're this paranoid about investing a lump sum right before a "crash" or correction (which is not an irrational fear), then why don't you just pay your house off with your cash? This would accomplish several things: 1. Rather than feel dumb for miss...
by Meg77
Mon Jun 26, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Where to find a financially like-minded significant other?
Replies: 140
Views: 7129

Re: Where to find a financially like-minded significant other?

But their experience (and modern feminist theory in some ways) requires them to assume that they may never find a long term partner, that they can create a great life without one, and that it may not include "traditional" things like homeownership, motherhood and retirement. Whether they ...
by Meg77
Mon Jun 26, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Where to find a financially like-minded significant other?
Replies: 140
Views: 7129

Re: Where to find a financially like-minded significant other?

I feel for you, but I also think it's important to realize that most individuals grow together as a couple and tend to meet toward the middle when it comes to habits and preferences. I don't mean to imply that women will change themselves to be with you (although many do tend to do this even unconsc...
by Meg77
Sun Jun 25, 2017 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: 28, Single, No Debt, Seeking Portfolio Advice
Replies: 13
Views: 1620

Re: 28, Single, No Debt, Seeking Portfolio Advice

Thank you to everyone that took the time to respond. You've given me quite a bit to think about and I've been doing quite the reading to get a better understanding of everything. How are you able to save so much on an $80K income in New York? If the answer is that you are still living at home with ...
by Meg77
Fri Jun 23, 2017 2:16 pm
Forum: Investing - Help with Personal Investments
Topic: Can you share some of your financial goals?
Replies: 42
Views: 3394

Re: Can you share some of your financial goals?

I don't have a specific goal in mind for my savings either, but I don't think that is necessary. One day I might have a want or a need arise that I won't have to take years to save for. Maybe I'll want to quit my job or start/buy a business or buy a nice car or move or buy a second home or have a ch...
by Meg77
Fri Jun 23, 2017 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Boglehead Challenge -- Help me "win the game".
Replies: 25
Views: 2078

Re: Boglehead Challenge -- Help me "win the game".

This is one of the concerns that I am having difficulty wrapping my mind around. Traditional portfolio construction would suggest most if not all of my equity allotment in this scenario to the taxable brokerage account due to tax efficiency. But then relatively soon appears the need to draw down mu...
by Meg77
Fri Jun 23, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: 401k loan as "bridge loan" - own current home in cash - poke holes in this plan
Replies: 24
Views: 1017

Re: 401k loan as "bridge loan" - own current home in cash - poke holes in this plan

The risk is that the market goes up while you're not invested and you miss the appreciation. What you want to do is take the loan out of the fixed-income portion. That might require a rebalancing after withdrawal. I'm not sure how TSP does it. Thanks for the advice. TSP is all in G fund so no issue...
by Meg77
Fri Jun 23, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Just married: now what?
Replies: 7
Views: 920

Re: Just married: now what?

After 9 years together beginning in high school, we are married! Now that we are married and she has moved in, I have a few questions that I am hoping for some direction on. I've been a boglehead since getting my first internship back in 2013. I can't thank this site enough and all of the wonderful...
by Meg77
Fri Jun 23, 2017 11:48 am
Forum: Investing - Help with Personal Investments
Topic: Boglehead Challenge -- Help me "win the game".
Replies: 25
Views: 2078

Re: Boglehead Challenge -- Help me "win the game".

I would greatly appreciate the knowledge, experience, and insight from Bogleheads. Your challenge.....if you so choose......is to help me " win the game " by portfolio design! 8-) Background Info : 50 years old; 9-mo emergency fund; no debt; married; no kids (no legacy concerns); 25% Fed ...
by Meg77
Fri Jun 23, 2017 11:43 am
Forum: Investing - Help with Personal Investments
Topic: Boglehead Challenge -- Help me "win the game".
Replies: 25
Views: 2078

Re: Boglehead Challenge -- Help me "win the game".

I would greatly appreciate the knowledge, experience, and insight from Bogleheads. Your challenge.....if you so choose......is to help me " win the game " by portfolio design! 8-) Background Info : 50 years old; 9-mo emergency fund; no debt; married; no kids (no legacy concerns); 25% Fed ...
by Meg77
Fri Jun 23, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: 401k loan as "bridge loan" - own current home in cash - poke holes in this plan
Replies: 24
Views: 1017

Re: 401k loan as "bridge loan" - own current home in cash - poke holes in this plan

Banker here. That plan should work as long as you can get enough out to get to a 20% down payment (plus closing costs). The risk is that the market goes up while you're not invested and you miss the appreciation. If you are wanting to close by mid August though on a new house, your window is rapidly...
by Meg77
Fri Jun 23, 2017 10:21 am
Forum: Investing - Theory, News & General
Topic: Costco vs. Amazon - Thoughts of Prime Members?
Replies: 62
Views: 5942

Re: Costco vs. Amazon - Thoughts of Prime Members?

My husband and I had Amazon Prime and Costco memberships for a couple of years, but last year we let our Costco membership expire. The prices at Amazon are comparable for the stuff we are willing to buy in bulk (pet food, toilet paper), and it gets delivered to my door instead of me having to drive ...
by Meg77
Fri Jun 23, 2017 10:06 am
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund too large
Replies: 31
Views: 5140

Re: Emergency Fund too large

And you're right that $1K rent on a $250K property would not be a good return. I have four rental properties that are all worth $250K - $315K in the Dallas area though, and the rent varies from $2200 to $2350 on each (3 are duplexes and one is a condo). Of course there are expenses that come out of...
by Meg77
Fri Jun 23, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: New Baby - Wife stay at home for 1 year?
Replies: 48
Views: 3930

Re: New Baby - Wife stay at home for 1 year?

You can definitely afford it, and it's a very valid lifestyle choice. Just a warning though - she's not going to want to go back to work. I am 33 and have seen this happen with several friends, and I've read many articles about the trends as well. Most women who stay home plan for it to be a short t...
by Meg77
Thu Jun 22, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 2301

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

Is there any specific cost that you are concerned about? Keep in mind that almost $7,000 is prepaying taxes and interest, either for escrow or directly to your local government. Those can add up but they aren't costs that you can negotiate or avoid. The $775 application fee is a lot, but that is so...
by Meg77
Thu Jun 22, 2017 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 2301

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

I'm a lender, and that looks pretty standard. Here are a few items though to maybe ask about. 1. You technically don't have to pay for an owners title policy (at least where I am in Texas). It's recommended if you are paying cash since there would be no lenders policy, but if the lender is insuring ...
by Meg77
Thu Jun 22, 2017 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund too large
Replies: 31
Views: 5140

Re: Emergency Fund too large

You could pay cash for a $200,000-$250,000 rental property, hire a property manager, and enjoy the income stream. Why pay property manager for just one rental property, unless you can get a multi-dwelling building or apartment complex for that price. Also believe it or not, unless the rental proper...
by Meg77
Thu Jun 22, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Save or Pay Down Mortgage?
Replies: 5
Views: 636

Re: Save or Pay Down Mortgage?

I would pay down/off the HELOC for now. Why pay 4% if you have that money sitting in checking earning nothing? A few months before you start shopping for your new home, draw enough (or get a new one if you need a bigger one) to cover your down payment and closing costs on the new house. Make sure th...
by Meg77
Wed Jun 21, 2017 3:36 pm
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund too large
Replies: 31
Views: 5140

Re: Emergency Fund too large

You could pay cash for a $200,000-$250,000 rental property, hire a property manager, and enjoy the income stream.
by Meg77
Wed Jun 21, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Generally speaking, when getting an auto loan, is a shorter term better than longer term?
Replies: 8
Views: 693

Re: Generally speaking, when getting an auto loan, is a shorter term better than longer term?

Hi there, banker here. The first thing to understand is that car loans only exist for one reason: to enable and encourage consumers to buy more car than they can afford, or more car than they would otherwise be willing to purchase if they had to pay cash. The auto industry would not be able to grow ...
by Meg77
Wed Jun 21, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: WWYD? Cash in Investment to Pay Off Mortgage Question
Replies: 50
Views: 2000

Re: WWYD? Cash in Investment to Pay Off Mortgage Question

Well done! You guys are on a wonderful track. I listen to Dave Ramsey and am very familiar with his baby steps. Baby Step One - check! Baby Step Two - check! Baby Step Three - check! But realistically the EF is on the lower side of acceptable given a third child is on the way. I'd quit paying extra ...
by Meg77
Wed Jun 21, 2017 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Financial advisor question
Replies: 47
Views: 3135

Re: Financial advisor question

You are at a very expensive firm, but what you have does not sound out of the ordinary. Paying 1.27% per year isn't crazy, especially if you are getting world class service (immediate responses to your emails and calls, invitations to educational and networking events, golf or lunch outings) and han...
by Meg77
Tue Jun 20, 2017 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Planning Around Partner's Student Loans
Replies: 30
Views: 2060

Re: Planning Around Partner's Student Loans

Dude. No. You are doing very well financially, and it's admirable of you to care about your partner's potential tax and retirement issues 25+ years into the future. But in my view you are not only overthinking this but wrongly focusing on this issue at all given your current circumstances. Here are ...
by Meg77
Tue Jun 20, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: So sick of it! [Paying off student loans]
Replies: 42
Views: 6170

Re: So sick of it! [Paying off student loans]

nor does it make sense to invest it in stocks at all time highs (P/E valuations as well as actual prices) when this bull market has already set longevity records. You're suggesting he time the market. Interesting. Not really. I'm just suggesting that he prioritize paying down higher rate debt rathe...
by Meg77
Mon Jun 19, 2017 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: Please help with this portfolio
Replies: 10
Views: 490

Re: Please help with this portfolio

I don't think you should do anything unless your parents are unhappy and eager to get away from their advisor. EJ funds typically charge a front end load, so that is a sunk cost. Reinvested dollars are not charged a load, only the initial investment. So the expense ratio and any AUM fees are the onl...
by Meg77
Mon Jun 19, 2017 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: 28, Single, No Debt, Seeking Portfolio Advice
Replies: 13
Views: 1620

Re: 28, Single, No Debt, Seeking Portfolio Advice

How are you able to save so much on an $80K income in New York? If the answer is that you are still living at home with your parents, then my suggestion would be to "invest" some of your extra cash flow into getting your own apartment. The independence, experiences and growth you will have...
by Meg77
Mon Jun 19, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Credit for Retirees
Replies: 16
Views: 1635

Re: Credit for Retirees

Thanks to Meg77 and the others who have replied to my inquiry. If you want to get a mortgage (refinance or new property purchase), you'll want to do that before you retire. If you have substantial equity in your home, it might make sense to take out a home equity line of credit to use in the future...
by Meg77
Mon Jun 19, 2017 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: So sick of it! [Paying off student loans]
Replies: 42
Views: 6170

Re: So sick of it! [Paying off student loans]

Stop adding to taxable brokerage and to cash and direct all that cash flow toward the loan instead. And wipe it out once you the balance is low enough to do so with $50K left in a cash cushion. You do NOT need the risk of another leveraged rental in your situation, nor does it make sense to invest i...
by Meg77
Mon Jun 19, 2017 3:13 pm
Forum: Investing - Help with Personal Investments
Topic: 19 y/o Windfall Questions
Replies: 25
Views: 2919

Re: 19 y/o Windfall Questions

I would leave it in cash for now to support "extra" education expenses. She may want to use it to study abroad one summer or to go to graduate school or to live off while she takes an unpaid internship in New York after college. Once she has graduated and has a full time job, she may want ...
by Meg77
Mon Jun 19, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1986

Re: Auto Loan vs Mortgage

Zillow has my house way under valued I believe. I checked Remax and Chase value estimators and those are near each other and close to the original market value of the house. I think the stringent rules mainly apply to FHA loans in regards to PMI payoff. We have a conventional loan with PMI. I pulle...
by Meg77
Mon Jun 19, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Credit for Retirees
Replies: 16
Views: 1635

Re: Credit for Retirees

I am retiring from a position as a university professor (I'm 55). Because of the nature of nine-month contracts, I am technically employed until 8-31-17 (making about $75000 annually) and will be retired effective 9-1-17 (with a pension of about $26000). I haven't thought very much about how credit...
by Meg77
Mon Jun 19, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement
Replies: 10
Views: 893

Re: Mid/Late 20's - Student Loan Paydown vs Saving for Retirement

I think you guys are doing a great job, so kudos to being off to a wonderful start financially! It's hard to feel like you're making much progress when you are splitting your attention and dollars among multiple goals. Personally, I would advocate for the following strategy: 1. Lower/Raise your 401k...
by Meg77
Fri Jun 16, 2017 3:48 pm
Forum: Investing - Theory, News & General
Topic: Anyone else gotten totally bored with investing?
Replies: 101
Views: 9054

Re: Anyone else gotten totally bored with investing?

I got to that point with my portfolio, but there are lots of other personal finance matters to tinker with and obsess about. I project our tax burden under different circumstances, analyze our spending patterns using Mint.com, project our net worth statement out years into the future (again and agai...
by Meg77
Fri Jun 16, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage and Low-Income
Replies: 26
Views: 2352

Re: Mortgage and Low-Income

First thing first - cash out that whole life plan NOW. It's a nice gift to get, but it's a terrible product in general. Put that money in savings if you have no other debts to be set aside for your future home, wherever that may be. Unfortunately though, I don't think you'll be able to qualify for a...
by Meg77
Fri Jun 16, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Pay down mortgage to rid us of PMI?
Replies: 5
Views: 377

Re: Pay down mortgage to rid us of PMI?

Definitely get rid of PMI. No reason to pay for a new appraisal since you have the cash to get rid of the PMI either way. Call the lender to ask how to go about it today! And I would also vote to wipe the whole loan off within the year if possible (unless you have other debts, in which case I'd wipe...
by Meg77
Fri Jun 16, 2017 11:32 am
Forum: Investing - Help with Personal Investments
Topic: Parent's Portfolio
Replies: 12
Views: 1182

Re: Parent's Portfolio

I would like to suggest a little International exposure to them via Vanguard Total International Stock Index Fund Admiral Shares, maybe 5%. I am also concerned about a total lack of a cash based emergency fund (except for the Federal MM). I think they should have a year of expenses set aside, but t...
by Meg77
Fri Jun 16, 2017 11:08 am
Forum: Investing - Theory, News & General
Topic: Amazon Buys Whole Foods
Replies: 103
Views: 10313

Re: Amazon Buys Whole Foods

I'm a Whole Foods rewards member (it's been in beta testing in Dallas), and I got the following email from them this morning: Dear Valued Shopper, Today marks the beginning of an exciting new chapter in Whole Foods Market’s history with the announcement that we’ve entered into an agreement to merge ...
by Meg77
Thu Jun 15, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: How many of you have rentals (i.e. you're a landlord)? Are they worth it?
Replies: 74
Views: 5063

Re: How many of you have rentals (i.e. you're a landlord)? Are they worth it?

If your mutual fund is not in a retirement account, I would definitely consider cashing it out and paying off your mortgage. A 4.625% guaranteed rate of return is not something you are going to find in the stock market, especially after a 9 year bull run! How will you feel when - not if, but when -...
by Meg77
Thu Jun 15, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: House closing in 2 weeks. RE Attorney made a mistake and won't fess up. What to do???
Replies: 8
Views: 1138

Re: House closing in 2 weeks. RE Attorney made a mistake and won't fess up. What to do???

There is nothing you can do. If you were required to pay for a survey per the contract, then you will be charged $800 for this survey at closing. The fact that he said or thought you could get one cheaper isn't really relevant. He was wrong, or he forgot to order the cheaper one and got the regular ...
by Meg77
Thu Jun 15, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage amount vs savings vs interest deduction
Replies: 26
Views: 1514

Re: Mortgage amount vs savings vs interest deduction

Personally I'd want to keep about $100K liquid, so here are my thoughts both as a banker and as someone your age with a similar circumstance. 1. I think the best option is to put $500K down and take out an $800,000 mortgage on a 15 year fixed term. That can currently be had for 3.75%. That will keep...
by Meg77
Thu Jun 15, 2017 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: Mid-40's, single parent, "retired", $1.6M portfolio, investment advice sought.
Replies: 50
Views: 7576

Re: Mid-40's, single parent, "retired", $1.6M portfolio, investment advice sought.

It doesn't sound like her current/former portfolio was inappropriate, and if she was happy with her advisor and getting good advice, I wouldn't overhaul everything just for the sake of reducing fees. This type of investor is exactly the kind who may well benefit from a paid financial advisor; 1% a y...
by Meg77
Thu Jun 15, 2017 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: "Recasting" the home mortgage - questions
Replies: 6
Views: 620

Re: "Recasting" the home mortgage - questions

Excellent information Meg77 and jimb. Really appreciate it. My Mortgage is nearly 1.4M (California/Bay princing....ouch) and I can bring it down to 1.1M. Reasons are to utilize cash better and I don't like to keep high mortgage amounts (tax benefits are a wash with AMT anyways). I see the point in ...
by Meg77
Thu Jun 15, 2017 1:55 pm
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 90
Views: 7745

Re: Worth it to buy expensive clothes?

Yes, it's worth it, but I don't think it's necessary or even ideal to buy an entire new wardrobe all at once. You could just get 2-3 shirts and 1-2 suits/pants for now along with 1-2 pair of new shoes (black and brown). Then repeat this fall when the weather changes or add a few pieces here and ther...
by Meg77
Wed Jun 14, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: How many of you have rentals (i.e. you're a landlord)? Are they worth it?
Replies: 74
Views: 5063

Re: How many of you have rentals (i.e. you're a landlord)? Are they worth it?

If your mutual fund is not in a retirement account, I would definitely consider cashing it out and paying off your mortgage. A 4.625% guaranteed rate of return is not something you are going to find in the stock market, especially after a 9 year bull run! How will you feel when - not if, but when - ...
by Meg77
Wed Jun 14, 2017 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: "Recasting" the home mortgage - questions
Replies: 6
Views: 620

Re: "Recasting" the home mortgage - questions

I'm a banker, and I've also recast my mortgage. Many banks allow this, and many also charge a fee of $250 or so. If your goal is to pay of the loan sooner rather than according to the standard loan term though, you don't want to recast. Paying extra on principal will cause the loan to pay off early ...
by Meg77
Tue Jun 13, 2017 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Was it unprofessional for the HR manager to ask for my salary history in front of a peer at a job interview?
Replies: 67
Views: 5649

Re: Was it unprofessional for the HR manager to ask for my salary history in front of a peer at a job interview?

I don't know what industry you're in or what level you are at, but in general I feel like you are overthinking this. As long as you are competent, likable, and confident, your current salary should have relatively little bearing on what kind of compensation you can negotiate with this new company (u...
by Meg77
Mon Jun 12, 2017 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Name Change After Getting Married
Replies: 17
Views: 1914

Re: Name Change After Getting Married

I ran into issues with my frequent flyer miles after changing my name. I flew for a while in my maiden name after marriage because I still had a drivers license with that name (and I'd booked some future flights in my maiden name prior to marriage). But after I changed my name and started flying wit...

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