Search found 145 matches

by Woody999
Tue Aug 16, 2016 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Help me calculate monthly earnings from an investment
Replies: 7
Views: 338

Re: Help me calculate monthly earnings from an investment

livesoft wrote:
Woody999 wrote:Thanks!

How do you get the 1.6%? I'm not seeing that anywhere. Is it something you calculate from the current yield?

What do you see as the current yield of VMLUX?


0.92%
by Woody999
Tue Aug 16, 2016 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Help me calculate monthly earnings from an investment
Replies: 7
Views: 338

Re: Help me calculate monthly earnings from an investment

Thanks!

How do you get the 1.6%? I'm not seeing that anywhere. Is it something you calculate from the current yield?
by Woody999
Tue Aug 16, 2016 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Help me calculate monthly earnings from an investment
Replies: 7
Views: 338

Re: Help me calculate monthly earnings from an investment

That's what I thought but this post... https://www.bogleheads.org/forum/viewtopic.php?f=1&t=196579&p=3014269#p3014269 the person says I would earn $466 per month on $350k in VMLUX. Not sure how that was calculated. That would mean VMLUX would earn more than the 1% form Capital One 360 Money ...
by Woody999
Tue Aug 16, 2016 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Help me calculate monthly earnings from an investment
Replies: 7
Views: 338

Help me calculate monthly earnings from an investment

I think I know how to do this but... 1. If I invest $100k in a Capital one 360 account earning 1%, how would I calculate my monthly earnings? 2. If I invest $100k in a VWSUX with a yield of 0.72%, how would I calculate my monthly earnings? Sorry for the dumb question but I just want to make sure I'm...
by Woody999
Fri Aug 12, 2016 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

I'd invest it in VMLUX. Tax-exempt short-term bond fund. On dividends alone you'll make about $466/mo. There's a small degree of risk if interest rates rise significantly (a 1% rise in rates will see a 2.5% decrease in the NAV) but it hasn't ever had a negative year and it averages 2.93%. How did y...
by Woody999
Tue Aug 09, 2016 10:22 am
Forum: Personal Finance (Not Investing)
Topic: What is the best way to choose a mortgage company?
Replies: 13
Views: 1052

What is the best way to choose a mortgage company?

My wife and I will be getting a mortgage soon for a $650k house and putting $350k down. What is the best way to shop around for mortgages? Just call a couple banks around town to see who has the lowest rates and closing costs?
by Woody999
Tue Aug 09, 2016 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Will banks let you pay only the interest part of your mortgage?
Replies: 17
Views: 2044

Re: Will banks let you pay only the interest part of your mortgage?

And for much of the life of an amortized mortgage, most of the payments are interest anyway. It's only when you get near the end of the loan that the principal starts to figure in. Assuming a 30-year mortgage, yes. The principal is only ~16% of the payment to start and it takes about 12 years to ge...
by Woody999
Tue Aug 09, 2016 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Will banks let you pay only the interest part of your mortgage?
Replies: 17
Views: 2044

Will banks let you pay only the interest part of your mortgage?

I've been wondering this lately and maybe you guys know the answer... In an emergency fund type situation (ie. my wife and I both lose our jobs) do banks allow you to make smaller than scheduled payments, ie. interest only? Seems like they would since something is better than nothing but then again ...
by Woody999
Wed Aug 03, 2016 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

I would pay off the student loan and put the rest down on the house as long as that would still be below the jumbo loan limit. FYI, interest rates are currently lower for jumbo mortgages than for conforming loans if you have good credit. So this may not be something worth pursuing. Jumbo mortgages ...
by Woody999
Wed Aug 03, 2016 11:57 am
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

What would be the risk of putting the $350k in Vanguard High-Yield Tax-Exempt Fund??? What's the reasonable worse case scenario if I had it there for 1 year?
by Woody999
Wed Aug 03, 2016 10:29 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

Get a 15 yr loan and I don't see why you can't aggressively pay off in 7 years and be debt free. Our last house had a mortgage of $340k and we paid it off in 5 years. We had help due to selling a $100k condo and using those funds on the house mortgage. The bottom line is I don't see us taking 15 ye...
by Woody999
Wed Aug 03, 2016 10:05 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

-Beef up the EF (another $20k in cash). This would give us $40k in cash and wouldn't include last resort available funds like credit cards, HELOC and Roth IRAs. If it got real bad we would have the $40k in cash, and last resort type funds, ie. $50k in credit cards, at least $100k in a HELOC and $50...
by Woody999
Wed Aug 03, 2016 8:18 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

Sounds like the bottom line is... -Pay off the student loans ($68k) -Beef up the EF (another $20k in cash). This would give us $40k in cash and wouldn't include last resort available funds like credit cards, HELOC and Roth IRAs. If it got real bad we would have the $40k in cash, and last resort type...
by Woody999
Wed Aug 03, 2016 7:05 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

I would assume that with your income your student loan interest is not deductible on your taxes but the mortgage interest is. This could also be important if you hit the AMT in the future. If you go with the 15 year the the mortgage interest rate would also be lower. It was also not clear from your...
by Woody999
Wed Aug 03, 2016 7:03 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

Your numbers don't seem to add up. If $20K equals 4 months of expenses then that puts your annual expenses at $60K. Even if you haven't been at this salary level for long, having no money outside of retirement suggests that your expenses are not just $5K/month. Have you actually tracked your expens...
by Woody999
Wed Aug 03, 2016 6:31 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

May I ask you guys a dumb question... Why would I pay off the student debt instead of just making interest only payments on the student loans (which is what we do now $200/month) and putting that $68,000 towards the house down payment? Seems like the student loans are low interest and I can just mak...
by Woody999
Wed Aug 03, 2016 6:02 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

-If we put 20% down that would leave a mortgage of $520k which would be a jumbo loan and higher int rate. -If we wanted to stay below the jumbo limits we could put $233k down. That would leave a mortgage of $417k and $117k to invest. If we paid off the student loans, then it would leave $49 to invest.
by Woody999
Wed Aug 03, 2016 5:52 am
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

Re: How much to put down on our next house?

Thanks for the replies! As far as net worth, my wife and I have only been married 8 years and our incomes have gone up significantly recently. We max out all 401ks and backdoor Roth IRAs. I think we are fine from a net worth standpoint. As far as an emergency fund, we could use a little more I guess...
by Woody999
Wed Aug 03, 2016 5:24 am
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

What would be the most I could lose (within reason) if I invested the 350k in the intermediate term tax-exempt bond fund for one year?
by Woody999
Tue Aug 02, 2016 6:44 pm
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

Our top Marginal bracket will be 28% or 33%. We will be close to 33% but not exactly for this year.
by Woody999
Tue Aug 02, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much to put down on our next house?
Replies: 34
Views: 2097

How much to put down on our next house?

I'm 41 and my wife is 35. Our gross combined income is $280k/yr. Our only debt is a $20k student loan (at 3.125%) and a $48k student loan (at 3.25%). We have $425k in our 401ks and $50k in our roth IRAs. We have $20k in cash for an emergency fund. My wife and I just sold our home and walked away wit...
by Woody999
Tue Aug 02, 2016 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

May I ask why you guys are suggesting tax free bond funds? Why not taxable bond funds?

Sorry if that's a dumb question. Thanks!
by Woody999
Mon Aug 01, 2016 7:46 pm
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

Re: What should I do with $350k???

I'd invest it in VMLUX. Tax-exempt short-term bond fund. On dividends alone you'll make about $466/mo. There's a small degree of risk if interest rates rise significantly (a 1% rise in rates will see a 2.5% decrease in the NAV) but it hasn't ever had a negative year and it averages 2.93%. I'm inter...
by Woody999
Mon Aug 01, 2016 4:40 pm
Forum: Investing - Help with Personal Investments
Topic: What should I do with $350k???
Replies: 17
Views: 2994

What should I do with $350k???

My wife and I put our house on the market thinking it would take a year or more to sell. We were wrong! :shock: We had a contract in 5 days and we close tomorrow. :mrgreen: The folks buying our house wont be moving here until November so we are renting our house for up to 3 months while we continue ...
by Woody999
Mon Jul 25, 2016 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Who should my wife and I see, a Financial Advisor, planner, etc.
Replies: 38
Views: 2510

Re: Who should my wife and I see, a Financial Advisor, planner, etc.

bsteiner wrote:I've spoken several times for NAPFA. Many of their people are good, but mainly manage assets for a percentage of assets.


So the NAPFA people get paid via a percentage of assets or hourly fee?
by Woody999
Mon Jul 25, 2016 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Who should my wife and I see, a Financial Advisor, planner, etc.
Replies: 38
Views: 2510

Re: Who should my wife and I see, a Financial Advisor, planner, etc.

I went to napfa.org and found 2 about an hour away. None are located in my town. I then went to http://financial-advisors.credio.com/d/b/Hourly-Charge and found some in my town that will work for an hourly fee but they can also work based on commissions. I guess they can do either way. I assume that...
by Woody999
Mon Jul 25, 2016 6:58 am
Forum: Personal Finance (Not Investing)
Topic: Who should my wife and I see, a Financial Advisor, planner, etc.
Replies: 38
Views: 2510

Re: Who should my wife and I see, a Financial Advisor, planner, etc.

Thanks guys! Sounds like we need to contact a fee only CFP. I saw a couple in our area on the napfa.org website.
by Woody999
Mon Jul 25, 2016 5:43 am
Forum: Personal Finance (Not Investing)
Topic: Who should my wife and I see, a Financial Advisor, planner, etc.
Replies: 38
Views: 2510

Who should my wife and I see, a Financial Advisor, planner, etc.

My wife and I just got a contract on our house and will be closing soon. We also have a 2 year old son. We are looking for a local professional to look at all our finances and help us make some decisions like... -What budget should we allow for our next home -Are we saving enough for retirement -Oth...
by Woody999
Sun Feb 21, 2016 8:21 pm
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question (TurboTax)
Replies: 6
Views: 674

Re: Back Door Roth IRA Question (TurboTax)

Any idea how to fix this? Any ideas or help would be appreciated! Did you use TurboTax last year to file your 2014 taxes? Did you export that data to your 2015 TT? In forms mode take a look at your 2015 8606 form. Line 2 should show your 5500 basis. It it's not there you'll have to go back to the E...
by Woody999
Sat Feb 20, 2016 7:09 pm
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question (TurboTax)
Replies: 6
Views: 674

Re: Back Door Roth IRA Question (TurboTax)

Thanks for your reply! The codes on the 1099-R is "2" meaning an early distribution but with an exception...in this case the exception is I converted it to a Roth IRA. You are correct, a 1099-R does not report a contribution. I hope I didn't state such in my first post. It reports a distri...
by Woody999
Sat Feb 20, 2016 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question (TurboTax)
Replies: 6
Views: 674

Back Door Roth IRA Question (TurboTax)

On 3/17/2015 I made a $5,500 contribution to a 2014 Traditional IRA then converted to my Roth IRA on 3/23/2015. On 7/6/2015 I made a $5,500 contribution to a 2015 Traditional IRA then converted to my Roth IRA on 7/10/2015. In TurboTax it asks me to enter the 1099-R from fidelity which shows me takin...
by Woody999
Tue Jul 07, 2015 12:16 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Questions...
Replies: 5
Views: 631

Re: Backdoor Roth IRA Questions...

2) Regardless of of who use you I thought I read where a "conversion" is different than transferring money into a "backdoor" Roth IRA. Which is correct? Is a conversion the correct way to transfer money from the Traditional to the Backdoor Roth IRA?

Thank again!
by Woody999
Tue Jul 07, 2015 6:03 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Questions...
Replies: 5
Views: 631

Backdoor Roth IRA Questions...

I'm attempting to do another Backdoor Roth IRA. I have done this before but it's been a while so I have a few questions... -I have $0.01 in the Traditional IRA acct from the last Roth backdoor conversion. I'm guessing I earned the penny during the short time the last Backdoor Roth IRA was sitting in...
by Woody999
Sun May 31, 2015 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Home and Auto Insurance Deductible
Replies: 9
Views: 1318

Home and Auto Insurance Deductible

My wife and I usually keep ~$10k in our checking acct and we have a zero balance line of credit of $15k. We have another $20k in an emergency low interest savings acct. We also have ~$40k in backdoored Roth IRAs. Those items make up our tiered emergency fund. Now my question is about home and auto d...
by Woody999
Fri May 15, 2015 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Re: Am I a Millionaire???

You are not (yet) a millionaire. Right! But the question wasn't am I a millionaire right now...it's will I be next year assuming the numbers in my first post hold true. In nominal terms, yes, in real terms - we don't know yet and neither do you. What is your pre-occupation on whether you will be a ...
by Woody999
Fri May 15, 2015 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Re: Am I a Millionaire???

Boglenaut wrote:You are not (yet) a millionaire.


Right! But the question wasn't am I a millionaire right now...it's will I be next year assuming the numbers in my first post hold true.
by Woody999
Fri May 15, 2015 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Re: Am I a Millionaire???

I'm in the investable assets camp. Plus you have joint assets with your wife. So you need combined total of $2,000,000 to be considered millionaires. Appears that right now you have around $600,000 which is a good start. Sorry, them's the rules... Actually right now we owe about $100k on our house ...
by Woody999
Fri May 15, 2015 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Re: Am I a Millionaire???

Why does it matter??? Well because it's a cool milestone.

Worth as much as it always has been??? Well of course not.
by Woody999
Fri May 15, 2015 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Re: Am I a Millionaire???

Sounds like there are lots of definitions for "millionaire". Sounds like next year (assuming the numbers above hold true), my wife and I will be co-owners of a joint entity who's net worth is over a million.
by Woody999
Thu May 14, 2015 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 8104

Am I a Millionaire???

Well this is a little early but I'm curious... Next year my wife and I will have our house paid for worth ~$450k, our retirement accounts will be ~$500k, I have an employee stock ownership plan worth about $100k (can't have until I'm 62 or if I die my wife gets it immediately). We also have about $5...
by Woody999
Thu May 07, 2015 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: How much home can we afford (Short Post)
Replies: 8
Views: 1136

Re: How much home can we afford (Short Post)

Well there are 2 possible answers here. To answer the straight forward one a rough lender estimate would take your income and multiply by .28 and then divide by 12 to get a maximum monthly payment. $250k * .28 / 12 = $5,800/mo You then can look up the interest rate on a 15 year mortgage which is ar...
by Woody999
Thu May 07, 2015 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: How much home can we afford (Short Post)
Replies: 8
Views: 1136

How much home can we afford (Short Post)

My wife and I make $250/yr and both max out a 401k and backdoor roth IRA. I'm 40 and she is 34 years old. We currently live in a home worth ~450k and owe ~100k on the mortgage. We have no other debt. We have a 1 year old and are thinking about moving to a new school zone with a more kid friendly nei...
by Woody999
Tue May 05, 2015 8:55 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 1053

Re: Roth vs Traditional 401k

OP, With an income of 250k, what amounts of money can you set aside for retirement? That would help to provide a tailor made recommendations. Also, do you have kids in the picture? Are you thinking of early retirement and if so at what age range or time frame? In general, based on info provided til...
by Woody999
Tue May 05, 2015 8:49 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 1053

Re: Roth vs Traditional 401k

I think the intent was to continue contributing to traditional 401k and to a Roth IRA. If you plan on early retirement, then you will have a time when you will be in the 0% tax bracket, so definitely do traditional 401k and put the surplus into a taxable account. There is nothing wrong with investi...
by Woody999
Tue May 05, 2015 8:03 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 1053

Re: Roth vs Traditional 401k

These issues are addressed in the Wiki page: https://www.bogleheads.org/wiki/Traditional_versus_Roth Since you have everything maxed out, you are a bit closer to the "toss-up" than many are. It depends on whether you will pay more taxes now or later. Some people have periods of low income...
by Woody999
Tue May 05, 2015 8:01 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 1053

Re: Roth vs Traditional 401k

Are you hoping to retire early? If so, I'd be more inclined to continue with the traditional IRAs and start investing in a taxable account to help cover you in your early retirement years (before hitting 59.5). Early retirement is a great time to do Roth conversions. "Continue traditional IRAs...
by Woody999
Tue May 05, 2015 7:04 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs Traditional 401k
Replies: 15
Views: 1053

Roth vs Traditional 401k

My wife and I (I'm 40 and she is 34) max out our traditional 401k's (currently $18k) and we both do backdoor Roth IRAs (currently $5500 each). Our combined income is ~$250/yr. We have about $400k in our traditional 401k's and about $50k in our Roth IRAs. Should we continue to contribute to the tradi...
by Woody999
Tue May 05, 2015 6:06 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Tax Question...
Replies: 3
Views: 698

Re: Life Insurance Tax Question...

Line 7 is one time costs so it wouldn't be on going property tax.
by Woody999
Mon May 04, 2015 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Tax Question...
Replies: 3
Views: 698

Life Insurance Tax Question...

So here is my calculation... 136608 1. $____Annual income (in dollars) that will be needed by the survivor(s) 124000 2. $____Annual income available (pension, Social Security, annuities, etc.) 12608 3. $____Annual income shortfall (#1 minus #2) 403456 4. $____Annual income shortfall multiplied by nu...
by Woody999
Thu Apr 30, 2015 5:46 am
Forum: Personal Finance (Not Investing)
Topic: How much Life Insurance
Replies: 22
Views: 1887

Re: How much Life Insurance

What happens to my 401k and roth IRA when I die. Does it get cashed out and go to the wife or can she roll it over into her 401k and Roth IRA

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