Search found 1226 matches

by Meg77
Wed Feb 03, 2016 3:59 pm
Forum: Investing - Help with Personal Investments
Topic: Clueless college new grad 22 yo, 200k income looking to start saving
Replies: 143
Views: 11207

Re: Clueless college new grad 22 yo, 200k income looking to start saving

I'm not seeking any advice regarding changing my lifestyle, only advice regarding how to manage my money. 1. Put $18k (the maximum allowed) into the traditional 401(k) offered by your work for 2016. 2. Research "backdoor Roth" and put $5.5k in a Roth for 2015 (before 4/15/16) and $5.5k in...
by Meg77
Fri Jan 29, 2016 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Two spenders and buying a house
Replies: 43
Views: 3822

Re: Two spenders and buying a house

We looked at a property about 15 miles from our workplace. This house is 2800 square feet 5 beds 3 baths on 18 acres. It has a large pond about 5 acres in size, the current owner doesn’t know how deep. It is not in a flood zone area. We noticed a few ducks in it. The pond fenced off with a huge iro...
by Meg77
Mon Jan 25, 2016 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 320
Views: 30598

Re: Vanguard TurboTax - Not Available 2015?

Rob54keep wrote:Costco has a $20 off TurboTax coupon starting in January.


How can I find this coupon? I'm a Costco member, but I don't see anything for Turbotax in my Jan-Feb coupon book that just came in the mail.
by Meg77
Fri Jan 22, 2016 4:31 pm
Forum: Personal Consumer Issues
Topic: What was your biggest unexpected home expense?
Replies: 87
Views: 7248

Re: What was your biggest unexpected home expense?

I'm in the middle of this right now. We bought our townhome 2 years ago and were told the flat roof was "resealed" in 2011. There was a new wood deck on top of it so it made sense they'd re-do the roof before building that. So we spent $30K building out a kitchen and firepit and planters o...
by Meg77
Fri Jan 22, 2016 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: What would a Boglehead do? (CC Debt Dilemma)
Replies: 62
Views: 3819

Re: What would a Boglehead do? (CC Debt Dilemma)

CC1 - 24% - $3,266 CC2 - 18% - $3,305 CC3 - 20% - $2,600 CC4 - 16% - $5,972 CC5 - 15% - $4,442 CC6 - 25% - $351 CC7 - 23% - $890 8 & 9 are getting paid off on Monday. They are tiny. Congrats on deciding to get out of debt - and on your bonus which will give you a great head start! You indicate ...
by Meg77
Fri Jan 22, 2016 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing a 2.75% Mortgage Rate?
Replies: 10
Views: 1700

Re: Refinancing a 2.75% Mortgage Rate?

You have a great situation; I'd keep what you have. For one thing I'm not sure you can get 3.75% on a refi right now. That's the lowest stated rate currently, but there are add ons for a refi (versus a purchase), and depending on what state you're in, rolling in a HELOC can make the loan considered ...
by Meg77
Tue Jan 12, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Personal and Business Debt
Replies: 7
Views: 564

Re: Personal and Business Debt

As a banker I can tell you that you are pretty much out of luck when it comes to getting a business loan. The business doesn't have a long history, the revenues are very low, and your cash flow is currently negative. On top of that you don't seem to bring anything to the table as a guarantor (liquid...
by Meg77
Tue Jan 12, 2016 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on how to invest $5000 each month
Replies: 15
Views: 2344

Re: Advice on how to invest $5000 each month

Since you're already maxing out a 401k, I'd also max out a Roth IRA and an HSA if you have the option. After that I'd focus on eliminating all debt. After that, I'd put extra money into a Vanguard taxable account invested in index funds according to your target asset allocation.

Good luck!
by Meg77
Thu Jan 07, 2016 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 280
Views: 33312

Re: Question for the Bogleheads Millionaires

Will take a stab at it. Positive attitude. No fancy/ pricey vacations. Eat home . Healthy for you and your wallet. Save save. Live below your means. Average family income in USA 50500.00 per year. Spend no more than 25% on housing. Do not speculate. Invest. 25 or 30 years later Millionaire Good Luc...
by Meg77
Thu Jan 07, 2016 12:40 pm
Forum: Personal Consumer Issues
Topic: Netflix, Your Current Favorite Show
Replies: 95
Views: 6208

Re: Netflix, Your Current Favorite Show

Can't stream Downton Abbey. Yet It used to be streamable, around 2 years ago if I recall. I watched the first few seasons on Netflix. I assume they'll get (pay for) the rights again eventually. That's one annoyance with Netflix - they seem to remove content almost as often as they add it. They yank...
by Meg77
Thu Jan 07, 2016 12:30 pm
Forum: Investing - Help with Personal Investments
Topic: Decisions: Eliminate PMI, Max 401k, or Pay Student Loans?
Replies: 14
Views: 1260

Re: Decisions: Eliminate PMI, Max 401k, or Pay Student Loans?

Questions 1. a. Is it worth it to rush to eliminate PMI? Not in your situation as it stands currently. You have too many other balls in the air. It is feasible to pay down the difference between the loan balance at 24 months and 78% LTV in the next year and a half, but I am not sure if it is justif...
by Meg77
Wed Jan 06, 2016 11:56 am
Forum: Personal Consumer Issues
Topic: Netflix, Your Current Favorite Show
Replies: 95
Views: 6208

Re: Netflix, Your Current Favorite Show

Netflix is great especially if you don't care about staying current on certain shows. We use it to go back and enjoy shows we are a few seasons behind on. Here are some great ideas for you: Breaking Bad Mad Men Downton Abbey Orange is the New Black Friday Night Lights If you pay the extra $5 a month...
by Meg77
Wed Jan 06, 2016 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 280
Views: 33312

Re: Question for the Bogleheads Millionaires

Will take a stab at it. Positive attitude. No fancy/ pricey vacations. Eat home . Healthy for you and your wallet. Save save. Live below your means. Average family income in USA 50500.00 per year. Spend no more than 25% on housing. Do not speculate. Invest. 25 or 30 years later Millionaire Good Luc...
by Meg77
Wed Jan 06, 2016 11:44 am
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 94
Views: 9276

Re: Excess Cash - Play Monopoly or Repay Debt?

Congrats! I still would use more funds than just rental income to pay down the mortgage to get a property debt free for added stability. I will keep nudging. Having one house paid off can have a significant stabilizing effect on your holdings in real estate. It is something to think about. I know i...
by Meg77
Wed Jan 06, 2016 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 94
Views: 9276

Re: Excess Cash - Play Monopoly or Repay Debt?

Congrats! I still would use more funds than just rental income to pay down the mortgage to get a property debt free for added stability. I will keep nudging. Having one house paid off can have a significant stabilizing effect on your holdings in real estate. It is something to think about. I know i...
by Meg77
Wed Jan 06, 2016 11:11 am
Forum: Investing - Help with Personal Investments
Topic: First time backdoor Roth user
Replies: 4
Views: 531

Re: First time backdoor Roth user

Sounds like you're on the right track. I use my "rollover" IRA to do my backdoor contributions with no problem. It is still a Traditional IRA, it's just dubbed "rollover" internally via Vanguard because originally it was created with rollover funds from a 401k. That's not a separ...
by Meg77
Wed Jan 06, 2016 11:03 am
Forum: Investing - Theory, News & General
Topic: How do you organize your finances? Do you use Mint.com?
Replies: 57
Views: 4022

Re: How do you organize your finances? Do you use Mint.com?

I've used Mint for many years now and love it (at least for spending tracking - it's investment data never seems right to me). It is my primary tool for monitoring my budget/spending. There may be better, newer sites depending on your goal though. I've heard YNAB is best if you're actually trying to...
by Meg77
Tue Jan 05, 2016 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Lottery - lump sum or annual payout?
Replies: 75
Views: 6049

Re: Lottery - lump sum or annual payout?

I had an estate planning professor once who had a lot of lottery winners as clients (he was an attorney by day) and used to use examples and case studies from them to explain various concepts. I specifically remember him saying the lump sum was usually financially preferable mathematically, which I...
by Meg77
Mon Jan 04, 2016 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Lottery - lump sum or annual payout?
Replies: 75
Views: 6049

Re: Lottery - lump sum or annual payout?

I had an estate planning professor once who had a lot of lottery winners as clients (he was an attorney by day) and used to use examples and case studies from them to explain various concepts. I specifically remember him saying the lump sum was usually financially preferable mathematically, which I ...
by Meg77
Mon Jan 04, 2016 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Saved half of income last year - struggling to see the point
Replies: 45
Views: 6023

Re: Saved half of income last year - struggling to see the point

Or am I just having a premature midlife crisis :shock: Could be. Maybe you're realizing that saving money or having a pile of money doesn't, by itself, feel very satisfying. I have read and found to be true that happiness can be had by having these 3 things: Something to do. Someone to love. Someth...
by Meg77
Mon Jan 04, 2016 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Target 2016?
Replies: 168
Views: 8773

Re: Savings % Target 2016?

43% of guaranteed comp gross toward financial goals

(11% to additional mortgage principal payments, 8% brokerage, 6% cash, 16% retirement, 2% HSA).
by Meg77
Tue Dec 29, 2015 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 94
Views: 9276

Re: Excess Cash - Play Monopoly or Repay Debt?

DECEMBER UPDATE - I edited the original post to show new updates in blue. This will be my last update to this post. We are officially consumer debt free as of today!! I finally convinced DH to wipe out his car loan. He had wanted to do so more slowly in equal installments by the end of 2016 (3 years...
by Meg77
Tue Dec 29, 2015 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Embarrasing mortgage question
Replies: 21
Views: 3121

Re: Embarrasing mortgage question

... a loan of $500k will have more closing costs than a loan of $200k! How is this calculated or what expenses will make it more? There is usually a "loan initiation fee" which is a percent of the loan. For example, if this fee is 1%, in above example the difference would be $3k. Also tit...
by Meg77
Tue Dec 29, 2015 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Embarrasing mortgage question
Replies: 21
Views: 3121

Re: Embarrasing mortgage question

N The other problem with these clauses is that it takes a LONG time to sell/buy real estate right now. New rules went into effect in October that are stretching out the time it takes to close. The average last quarter was nearly 60 days from contract to close among all lenders - the longest since 2...
by Meg77
Mon Dec 28, 2015 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Psychological Disconnect [Pay off credit card vs. saving]
Replies: 25
Views: 1661

Re: Psychological Disconnect

As Victoria suggests, it can be helpful psychologically to track your progress toward "financial goals" rather than simply "savings" so that debt repayment is considered a priority. Another method is to watch your net worth progress rather than just simple savings. My husband an...
by Meg77
Mon Dec 28, 2015 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Embarrasing mortgage question
Replies: 21
Views: 3121

Re: Embarrasing mortgage question

Not a silly question at all! Most people need or want to use the equity in a current home toward the purchase of a new home when they move. Doing so is a little complicated. I'm a banker and deal with it all the time. You have several options. 1. Use a contingency clause. In the past, most people st...
by Meg77
Thu Dec 24, 2015 10:38 am
Forum: Personal Finance (Not Investing)
Topic: dilemma over house division during legal separation
Replies: 98
Views: 8380

Re: dilemma over house division during legal separation

It sounds like you want your wife to retain custody, for the kids (and therefore her) to remain in their current home, and for you to leave the marriage with roughly half the current marital assets. It also sounds like there isn't enough money for that to happen. You don't have to figure this out r...
by Meg77
Thu Dec 24, 2015 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Psychological Disconnect [Pay off credit card vs. saving]
Replies: 25
Views: 1661

Re: Psychological Disconnect

As Victoria suggests, it can be helpful psychologically to track your progress toward "financial goals" rather than simply "savings" so that debt repayment is considered a priority. Another method is to watch your net worth progress rather than just simple savings. My husband and...
by Meg77
Wed Dec 23, 2015 2:29 pm
Forum: Investing - Help with Personal Investments
Topic: How am i doing? Advice suggestion
Replies: 13
Views: 1697

Re: How am i doing? Advice suggestion

Hi Cats4Days! (love that name by the way). You are doing great, but here are my thoughts: 1. You say you're pushing taxable because you want to accumulate $250K in there to pay your living expenses while you pursue a more fulfilling line of work. That sounds great, except your monthly expenses are o...
by Meg77
Fri Dec 18, 2015 2:14 pm
Forum: Personal Consumer Issues
Topic: Should I just give my wife (folded) money?
Replies: 76
Views: 8891

Re: Should I just give my wife (folded) money?

As a wife, I can say that I think the folded money idea is a cute one. It shows creativity, time and effort put into a gift at least, which is more than can be said for most gifts these days (which are ordered online with one click, wrapped by some unseen worker and delivered to the door). And since...
by Meg77
Fri Dec 18, 2015 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: dilemma over house division during legal separation
Replies: 98
Views: 8380

Re: dilemma over house division during legal separation

It sounds like you want your wife to retain custody, for the kids (and therefore her) to remain in their current home, and for you to leave the marriage with roughly half the current marital assets. It also sounds like there isn't enough money for that to happen. You don't have to figure this out ri...
by Meg77
Thu Dec 17, 2015 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: when will cd rates go up
Replies: 17
Views: 2493

Re: when will cd rates go up

I wouldn't hold your breath. I work for a bank, and there has been no discussion of changing our rates on loans or CDs in the wake of this small Fed funds increase. Banks are awash in deposits and won't raise rates on CDs or savings accounts until they really need more cash. That won't happen until...
by Meg77
Thu Dec 17, 2015 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Off Mortgage at Bank Branch?
Replies: 15
Views: 1550

Re: Paying Off Mortgage at Bank Branch?

I am a banker and have worked for several banks. All have accepted mortgage payments at the branch, and to my knowledge it doesn't matter if you show up with a cashier's check, a regular check, or a pile of cash. They should be able to take it and either deposit it, or issue you a cashier's check, o...
by Meg77
Wed Dec 16, 2015 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: when will cd rates go up
Replies: 17
Views: 2493

Re: when will cd rates go up

I wouldn't hold your breath. I work for a bank, and there has been no discussion of changing our rates on loans or CDs in the wake of this small Fed funds increase. Banks are awash in deposits and won't raise rates on CDs or savings accounts until they really need more cash. That won't happen until ...
by Meg77
Wed Dec 16, 2015 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Buying $795,000 Home
Replies: 37
Views: 4787

Re: Buying $795,000 Home

If you're considering converting it to a rental at some point, get a 30 year loan so it will cash flow when you move. You can always pay extra on it and pay it off like a 15 year loan. If you're considering holding the property indefinitely, get a 15 or 30 year fixed loan rather than an ARM. Rates a...
by Meg77
Wed Dec 16, 2015 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: Scared, confused and need financial makeover - Inheriting $160,000
Replies: 22
Views: 3247

Re: Scared, confused and need financial makeover - Inheriting $160,000

When you are ready, we can help give more specific advice about how we think you could/should use this money. You'll need to post some financial details according to the format recommended (see one of the top flagged posts for details which you can copy and paste into your post). You say "I&quo...
by Meg77
Wed Dec 16, 2015 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Pay down mortgage or save for down payment?
Replies: 6
Views: 530

Re: Pay down mortgage or save for down payment?

It might be worth refinancing to a 15 year loan because you could probably shave around 1% off your rate. It would depend largely on closing costs as well as your holding period of course. Play around with an amortization schedule (you can get a generic one from an Excel template or on any number of...
by Meg77
Mon Dec 14, 2015 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: first mortgage ever, how much down? lock rate?
Replies: 10
Views: 1387

Re: first mortgage ever, how much down? lock rate?

Congrats on your home purchase! As a banker who originates a lot of mortgages, I have a couple of thoughts. If you're not willing to pay cash and you're planning to pay the mortgage off pretty quickly anyway, consider a 5 or 7 year ARM instead of a 30 year fixed loan. The interest rate will be a lot...
by Meg77
Wed Dec 09, 2015 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Trying to get my life on track, need advice
Replies: 52
Views: 3533

Re: Trying to get my life on track, need advice

Step One - Stop lending money to your parents. Help them sign up for social services or refer them to churches or charitable programs in your area, but you cannot borrow money with one hand and lend it with the other. You have a family to care for now, and your wife and baby trump your parents. I k...
by Meg77
Mon Dec 07, 2015 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: making the most of a $1.5M portfolio
Replies: 9
Views: 1334

Re: making the most of a $1.5M portfolio

Some years the market goes up, some years it goes down, and other years it's pretty much flat, which is how 2015 is shaping up to be. If you want to be able to generate $70K for upwards of 30 years, adjusted for inflation, then you need around $1.75M invested BEFORE you start making distributions of...
by Meg77
Mon Dec 07, 2015 4:19 pm
Forum: Personal Consumer Issues
Topic: The Restaurant Experience
Replies: 75
Views: 4748

Re: The Restaurant Experience

This depends largely on where you live I think. In Dallas there are more restaurants per capita than in any city in America (so I've been told). Competition is fierce, and the service and food are generally great all across the price spectrum - even at places like pubs where you wouldn't generally e...
by Meg77
Fri Dec 04, 2015 4:50 pm
Forum: Investing - Theory, News & General
Topic: Kliplinger's on "The World According to the Bogleheads"
Replies: 46
Views: 6268

Re: Kliplinger's on "The World According to the Bogleheads"

I can't wait to read it!

(Posting here so I'll be alerted when a thoughtful Boglehead posts the online link when it becomes available. I will attempt to be said Boglehead but am very likely to forget).
by Meg77
Fri Dec 04, 2015 4:45 pm
Forum: Investing - Help with Personal Investments
Topic: Keeping cash on the sidelines?
Replies: 6
Views: 864

Re: Keeping cash on the sidelines?

It may help you psychologically to consider your taxable investments as an extension of your emergency account. It's fully liquid and easily accessible, after all. Once you have 6 months expenses in cash, anything over that should be moved to brokerage and invested according to your asset allocation...
by Meg77
Fri Dec 04, 2015 4:40 pm
Forum: Personal Consumer Issues
Topic: Boglehead Nightmare/Recovering Underaccumulator/Has this happened to you?
Replies: 15
Views: 2560

Re: Boglehead Nightmare/Recovering Underaccumulator/Has this happened to you?

Haha, I love this post. You have definitely internalized your new commitment to accumulating wealth! This sounds like a typical anxiety dream except instead of being naked at school or unprepared for an exam or rejected by a lover you are recklessly overspending in yours. People's anxieties change a...
by Meg77
Fri Dec 04, 2015 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Would you sell Index funds to pay cash for house?
Replies: 56
Views: 3382

Re: Would you sell Index funds to pay cash for house?

Hmm, in this situation honestly I lean toward paying cash for the house. 1. Selling stocks to pay off a mortgage is one thing, but as you point out you'd not only be saving mortgage interest but also saving the up front closing costs (and considerable hassle) of getting a mortgage. Not sure they wou...
by Meg77
Wed Dec 02, 2015 4:51 pm
Forum: Personal Consumer Issues
Topic: How do "finishes" count in home appraisals?
Replies: 34
Views: 3986

Re: How do "finishes" count in home appraisals?

Square footage on a listing is definitely NOT necessarily accurate. One of the primary jobs of an appraiser is to measure the useable square footage for a home and verify factors like number of bedrooms, etc. You'd be surprised what people try to get away with in their listings. My neighbor has an ...
by Meg77
Wed Dec 02, 2015 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Too much in tax-advantaged accounts?
Replies: 115
Views: 11117

Re: Too much in tax-advantaged accounts?

My dad thinks it's crazy that I'm dumping so much money into retirement accounts that are "held hostage" by Wall Street companies and investment advisors who siphon off their fees for decades while you wait to access your money. This coming from a former stock broker. He was an business ow...
by Meg77
Tue Dec 01, 2015 12:53 pm
Forum: Personal Consumer Issues
Topic: How do "finishes" count in home appraisals?
Replies: 34
Views: 3986

Re: How do "finishes" count in home appraisals?

Square footage on a listing is definitely NOT necessarily accurate. One of the primary jobs of an appraiser is to measure the useable square footage for a home and verify factors like number of bedrooms, etc. You'd be surprised what people try to get away with in their listings. My neighbor has an i...
by Meg77
Tue Nov 24, 2015 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Thoughts on paying Mortgage down vs Investing
Replies: 45
Views: 3236

Re: Thoughts on paying Mortgage down vs Investing

- 529: $5K to each child (Ages 4 & 2) - Indiana offers a 20% credit up to $5K or $1K "bonus". Should I do more per kid or invest elsewhere? My thought was invest elsewhere but use the money for kids colleges (just to diversify). We want to have a third...should I just create the 529 n...
by Meg77
Tue Nov 24, 2015 10:46 am
Forum: Investing - Help with Personal Investments
Topic: Going part time, won't touch nest egg-How much do I need?
Replies: 12
Views: 1060

Re: Going part time, won't touch nest egg-How much do I need?

Are you taking inflation into account with your figures? A portfolio of $5M today will provide a very different lifestyle compared to $5M in 15 or 20 years. Also if you have another child (or children) your needs and goals may well change. Planning is great, but it is difficult to project more than ...

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