Search found 24 matches

by Stryker16
Fri Oct 27, 2017 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Advice
Replies: 11
Views: 448

Re: First Time Home Buyer Advice

Yes, homeowner's insurance. I will edit the above to avoid confusion. Also, I've been toying around with the idea of not funding the 7% that I currently put in the Roth IRA in order to "afford" a bigger house and still have well rounded savings. I would still have 15% going into retirement at the en...
by Stryker16
Fri Oct 27, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Advice
Replies: 11
Views: 448

Re: First Time Home Buyer Advice

Yes on having a child and my wife is not planning on working in the future. I put in property taxes and mortgage insurance in the first line as expense estimates. I am more looking to see what I should save outside of retirement and kids college. If I had a $550/month mortgage that leaves about 600 ...
by Stryker16
Fri Oct 27, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Advice
Replies: 11
Views: 448

Re: First Time Home Buyer Advice

No current plans to move. The organization I am with has it's corporate headquarters in the same city the house is in.
by Stryker16
Fri Oct 27, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Advice
Replies: 11
Views: 448

First Time Home Buyer Advice

My wife and I currently live rent free. She is a resident director at a dorm and as part of her compensation they provide "free housing". She is planning to quit this coming May and we are starting to look for a house. We will be living on my income but are fortunate to live in a very LCOL area in M...
by Stryker16
Fri Sep 29, 2017 1:39 pm
Forum: Personal Consumer Issues
Topic: Kalamazoo Promise - Free College Tuition or Better Public School?
Replies: 12
Views: 1273

Kalamazoo Promise - Free College Tuition or Better Public School?

Hello all, I live in an area of Michigan called Kalamazoo. I am wondering your thoughts on public schooling in relation to the below. There is a program in place called the Kalamazoo Promise where if you send your kid to Kalamazoo public schools from Kindergarten through 12th grade, you can pick fro...
by Stryker16
Mon Sep 18, 2017 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: To apply for new position or not?
Replies: 6
Views: 622

To apply for new position or not?

I am currently an IT Financial Analyst at a Fortune 500 company. I am 27 and make about 78k. My monthly responsibilities include forecasting for several IT departments. I have been doing the same thing for about 3 years and know it like the back of my hand. I saw a potential opportunity come up with...
by Stryker16
Mon Aug 28, 2017 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 6435

Re: Bad Idea to Have Zero Credit Cards?

Thanks for the responses. I know that there is a wealth of knowledge on this forum so I was just looking for some feedback.

At this current time, I mainly use cash (easy to control) but use the credit card for Amazon purchases.
by Stryker16
Mon Aug 28, 2017 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 6435

Re: Bad Idea to Have Zero Credit Cards?

On-line purchases are more difficult. Cannot use credit card to auto-pay bills. Cash back of 2-5% on purchases. Provides some recourse if having trouble with sellers. Travel can be difficult. Credit rating could drop which could affect insurance rates and possibly employment opportunitites. I see l...
by Stryker16
Mon Aug 28, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice: Recast mortgage vs. pay down student loans?
Replies: 5
Views: 575

Re: Need advice: Recast mortgage vs. pay down student loans?

Personally, I'd put the 40k toward the student loans. That'd only leave you with 21.6k left on it. While I don't know your income, this number seems very doable in terms of paying off. Pay the SL off, then attack the mortgage!
by Stryker16
Mon Aug 28, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 6435

Bad Idea to Have Zero Credit Cards?

I am throwing around the idea of getting rid of my credit card. I've done the points game and don't see a ton of value in it (other than the sign up bonus/offers). What are the negative aspects of not having a credit card with the below assumptions: 1) No Current Debt 2) Will purchase first house in...
by Stryker16
Mon Aug 28, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Article on Savings - Are BHs the 1% ?
Replies: 23
Views: 3837

Re: Article on Savings - Are BHs the 1% ?

This is pretty interesting. Hoping to be the 1% over time! $85k right now in retirement at 27, it can only go up from here! Not true haha. But hopefully it goes up in the long term for us young'uns. I'm 32. :beer Alright, so it could go down. But my wife and I are debt free, are saving cash for a h...
by Stryker16
Mon Aug 28, 2017 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me game plan strategy- Newbie
Replies: 15
Views: 765

Re: Please help me game plan strategy- Newbie

When you say debt free, do you include the house as well? Not sure how it would work with your numbers, but one strategy my wife and I are implementing is to live off her income and benefits and save mine. We are trying this plan to try and save cash for our first house. Getting there, one step at a...
by Stryker16
Mon Aug 28, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Article on Savings - Are BHs the 1% ?
Replies: 23
Views: 3837

Re: Article on Savings - Are BHs the 1% ?

This is pretty interesting. Hoping to be the 1% over time! $85k right now in retirement at 27, it can only go up from here!
by Stryker16
Tue Jul 25, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Pay yourself first.
Replies: 43
Views: 4219

Re: Pay yourself first.

"Automate the Important"

401k, Roth IRA, 529, and House Fund are all automated...
by Stryker16
Fri Jul 21, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 2858

Re: Help with Amortization Schedule with Extra Payments

Just looking to see if someone could enter it into their own calculator and confirm before I report back to my friend.
by Stryker16
Fri Jul 21, 2017 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 2858

Re: Help with Amortization Schedule with Extra Payments

I think the more difficult part of the equation is having 9 of 12 months with extra payments.
by Stryker16
Fri Jul 21, 2017 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 33
Views: 2858

Help with Amortization Schedule with Extra Payments

My buddy asked me to put an analysis together for him based on the criteria below: $250,000 loan 20 years 3% Interest Starting at month 25 of mortgage, add in $700/month extra payment for 9 of 12 months of the year. I put a file together and it appeared that the loan would be repaid around 168-169 m...
by Stryker16
Thu May 25, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: When does Saving become missing out on life?
Replies: 74
Views: 9395

Re: When does Saving become missing out on life?

Set a standard for your saving that you are happy with. My wife and I's standard for saving is fairly high right now but we still set aside budget dollars for things we enjoy (running races, date night, and vacations). There are a lot of things out there that don't matter that you can save on...like...
by Stryker16
Wed May 24, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Milestones (significant to me!)
Replies: 6
Views: 1150

Re: Milestones (significant to me!)

Congrats! Keep the momentum going!
by Stryker16
Tue May 23, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Fortune 500 Financial Analyst vs CFP
Replies: 7
Views: 754

Fortune 500 Financial Analyst vs CFP

I am currently a financial analyst working for a great company on the Fortune 500 list and my company was just named the Best Company to work for in the state. It is in my hometown. It's a steady company with somewhat slow but consistent growth (career wise). As of a few months ago, I have been plac...
by Stryker16
Fri May 19, 2017 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1806

Re: Buy 1st House Cash?

Yeah, essentially all counties in our area with various schools have house that we could buy for 120k or very close and we COULD make it work. It would probably be something like a 1500 sq foot ranch with 3 bedrooms and 1.5 baths. 220k could get us a 3k sq ft house with four bedrooms and 2.5 baths....
by Stryker16
Fri May 19, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1806

Re: Buy 1st House Cash?

Keep in mind that you are buying into a neighborhood in addition to buying the house. Be sure to look at the schools in the areas where you can get houses for $120K. Here in Atlanta there are areas where you can get low cost houses like that but the schools in those areas are generally not rated ve...
by Stryker16
Fri May 19, 2017 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1806

Re: Buy 1st House Cash?

Nate79 wrote:Are you maxing all retirement accounts? This would be my priority #1.
So you would put $46k/year into retirement (17.5 401k X 2 + 5.5 Roth IRA X 2) before you would put more down on your mortgage?
by Stryker16
Thu May 18, 2017 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1806

Buy 1st House Cash?

Hello all, looking for some advice. I am new to the site, but can't get enough of reading all the posts. My question is, should I buy my first house cash or with a large down payment? See details below. Age - 27 Married Current Income - 80k (this is just my income) - My wife works now but I don't fa...