Search found 65 matches

by benevo
Fri Aug 04, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Re: Escrow surplus - toward escrow or principal?

A PS -

The appraisal is done through a company our mortgage lender picks/uses. What's stopping them from being in favor of the mortgage company (Citi) and appraising lower?

And, will an appraisal affect taxes?
by benevo
Fri Aug 04, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Re: Escrow surplus - toward escrow or principal?

I would do it, PMI is money down the drain. And get rid of the escrow account as well. Yes, it's 'convenient' to just have one bill and that's usually how we all start out. However it's also nice to have your money sitting in your account waiting for that tax bill! I'll never get an escrow account ...
by benevo
Fri Aug 04, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Pay loan early at this point?
Replies: 10
Views: 748

Re: Pay loan early at this point?

How stable is your job? I hate debt of any kind so I would pay off the car especially when it makes you feel you made a mistake. I like the math above but I enjoy the momentum and the feeling better. Meanwhile, always save for your car purchases and pay cash for them. You don't have to take a loan ...
by benevo
Fri Aug 04, 2017 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Re: Escrow surplus - toward escrow or principal?

A quick update: I had our realtor look up comps in the area, and she found recent sales. Our house: purchased for $329,000 (as a very nicely renovated foreclosure) Comps, all in the same school district/county: - same bedrom #, +1 bathroom, same sq footage, 30 years older, less modern/updated: $345,...
by benevo
Thu Aug 03, 2017 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Pay loan early at this point?
Replies: 10
Views: 748

Re: Pay loan early at this point?

OP, What is your marginal tax rate? If it is 25% and you pay the 5K towards the loan, you are paying 25% tax in order to save 1.9% interest. You could contribute that 5K towards your Trad. 401K and save 25% tax. KlangFool Just shy of 25 but anticipate being over the line in a year or so - but, your...
by benevo
Thu Aug 03, 2017 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Pay loan early at this point?
Replies: 10
Views: 748

Pay loan early at this point?

One of the dumb mistakes I made when I was younger was purchasing a new car with a 5-year loan. It was an average car and not an exorbitant cost at all, however the loan was a mistake, I now know having grown up! Either way, live and learn - know not to do that again! The one good thing I did do was...
by benevo
Sun Jul 30, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Re: Escrow surplus - toward escrow or principal?

Putting the surplus toward principal is just another way of making advance payments on your mortgage. Getting the escrow refunded to you and making that an extra principal payment would do the same thing, but you could also get the escrow refunded to you and do something else with it (say, contribu...
by benevo
Sat Jul 29, 2017 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Re: Escrow surplus - toward escrow or principal?

mortfree wrote:Don't escrow at all

DYI


I believe it's a requirement with Citi, but I might be completely wrong - I'll have to check!

May I ask why you recommend so? Easier overall?
by benevo
Sat Jul 29, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Escrow surplus - toward escrow or principal?
Replies: 13
Views: 1005

Escrow surplus - toward escrow or principal?

Good evening all - happy Saturday! We received our annual escrow analysis statement in the mail, and it appears there is an escrow surplus of about $800 - therefore, received a check for this amount. Should I: A. Deposit into escrow B. Deposit into principal While I'd lean towards the latter, it's w...
by benevo
Sat Jul 29, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Which Credit Card Companies Do You Like?
Replies: 57
Views: 4069

Re: Which Credit Card Companies Do You Like?

Personally, a huge fan of Capital One. Great points, no annual fee, their VentureOne card is great. All links to CO and CO360 bank accounts, too. What's the advantage over the quicksilver that's 1.5% cash back? It's a "travel card". Some people like that. Yeah - I believe, overall, they'r...
by benevo
Sat Jul 29, 2017 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Which Credit Card Companies Do You Like?
Replies: 57
Views: 4069

Re: Which Credit Card Companies Do You Like?

Personally, a huge fan of Capital One. Great points, no annual fee, their VentureOne card is great. All links to CO and CO360 bank accounts, too. What's the advantage over the quicksilver that's 1.5% cash back? It's a "travel card". Some people like that. Yeah - I believe, overall, they'r...
by benevo
Fri Jul 28, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: My life so far, my student loan refinancing, and my next steps
Replies: 8
Views: 891

Re: My life so far, my student loan refinancing, and my next steps

Great list of goals for next decade. But, it is tooeasy to get off track if you are not more focused. Since you have refinanced your student loans, you have eliminated some of the flexibility of deferrals, forgiveness, or just a change in payments. Therefore, I would student loans up on the list. M...
by benevo
Fri Jul 28, 2017 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Which Credit Card Companies Do You Like?
Replies: 57
Views: 4069

Re: Which Credit Card Companies Do You Like?

Personally, a huge fan of Capital One. Great points, no annual fee, their VentureOne card is great. All links to CO and CO360 bank accounts, too.
by benevo
Fri Jul 28, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: My life so far, my student loan refinancing, and my next steps
Replies: 8
Views: 891

Re: My life so far, my student loan refinancing, and my next steps

Yes, I should have mentioned that PMI is on our top priority and putting more towards mortgage to pay it off, etc. Thanks!
by benevo
Fri Jul 28, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Should I Quit my 6-figure job?
Replies: 84
Views: 8828

Re: Should I Quit my 6-figure job?

sunny_socal wrote:and I get along with my colleagues. (You'll eventually find out that the bolded part plays a huge part in job satisfaction :wink: )


So true!
by benevo
Fri Jul 28, 2017 7:21 am
Forum: Personal Finance (Not Investing)
Topic: My life so far, my student loan refinancing, and my next steps
Replies: 8
Views: 891

My life so far, my student loan refinancing, and my next steps

Hi all, I thought it'd be worthwhile - if for no one else, than for myself! - to kind of write a status update/blog about "my life." I say that in quotes, because I admit I've got a long ways to go still in my life! - I'm 29 years old. But, I think I've grown tremendously over the past few...
by benevo
Wed Jul 26, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Investing Education and Mansplaining
Replies: 128
Views: 7971

Re: Investing Education and Mansplaining

(Can I ask whose idea the timing and the investing videos are--yours or your daughter's? That may factor into the reception as well.) I agree with this - her reception sounds more like, "Dad, I'm not interested in this" more than "this is a man telling me what to do." Just the w...
by benevo
Tue Jul 25, 2017 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Order of Operations (Retirement, Loans, Emergency Fund)
Replies: 25
Views: 1487

Re: Order of Operations (Retirement, Loans, Emergency Fund)

bigred77 wrote:I definitely undervalued liquidity in my 20s. I was lucky and never had a set back but I realize I was taking a calculated risk. I am comfortable with debt as a tool but I realize it needs to be used prudently. YMMV


+everything!
by benevo
Tue Jul 25, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Order of Operations (Retirement, Loans, Emergency Fund)
Replies: 25
Views: 1487

Re: Order of Operations (Retirement, Loans, Emergency Fund)

I've read the Bogleheads wiki page on Prioritizing Investments https://www.bogleheads.org/wiki/Prioritizing_investments and feel like it doesn't tackle enough questions of how to prioritize an emergency fund vs. retirement vs loans. I would like to know either "this is what I would do" or...
by benevo
Fri Jul 21, 2017 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Saving for college for a family member
Replies: 10
Views: 557

Re: Saving for college for a family member

If you put the money into a 529, you put after-tax dollars into the account, just like you would savings account. But you'd never pay taxes on the money again as long as it's used for somebody's college. So no, there are no negatives for taxes unless the money is used for non-college purposes. Than...
by benevo
Fri Jul 21, 2017 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Saving for college for a family member
Replies: 10
Views: 557

Re: Saving for college for a family member

I would tend to put the money into a taxable account. Today, FAFSA doesn't look at non-parent owned 529's, but my son's private college application does. Perhaps have your spouse listed as beneficiary until your niece is actually in college and you're ready to take the money out to pay for her bill...
by benevo
Fri Jul 21, 2017 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Saving for college for a family member
Replies: 10
Views: 557

Re: Saving for college for a family member

miamivice wrote:5. No negatives on your taxes today.


Thanks for the well-detailed reply! No real negatives in the future either?
by benevo
Fri Jul 21, 2017 5:38 am
Forum: Personal Finance (Not Investing)
Topic: Saving for college for a family member
Replies: 10
Views: 557

Saving for college for a family member

Good morning and happy Friday, bogleheads! My brother and sister-in-law had a baby in November, and I want to put a little bit of money towards her future college savings. I have a few questions and apologize for the naiveté! 1. I was leaning towards setting up a 529 - would this be the best option?...
by benevo
Sun Jun 18, 2017 7:44 pm
Forum: Investing - Help with Personal Investments
Topic: Current vs future investments
Replies: 6
Views: 866

Re: Current vs future investments

BL wrote:What are your ERs?


0.0008 for all the TRFs
by benevo
Sat Jun 17, 2017 7:51 pm
Forum: Investing - Help with Personal Investments
Topic: Current vs future investments
Replies: 6
Views: 866

Re: Current vs future investments

Thanks, both!

In the same thinking, my contributions can be put towards:

Pre-Tax
Roth
After-Tax

Pre-tax would be best traditional option, yes? I have a better chance of the money growing that way I'd think.
by benevo
Sun Jun 11, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Current vs future investments
Replies: 6
Views: 866

Current vs future investments

Hi all, I am changing my investments (from some 'meh' funds that an old financial adviser recommended, to the 2040 Target Retirement fund). I understand, technically, the difference between having all future contributions go to the 2040 and selling my current investments. Is there an overall recomme...
by benevo
Thu Jun 08, 2017 1:33 pm
Forum: Investing - Help with Personal Investments
Topic: Selecting target retirement for my 401(k)
Replies: 23
Views: 1400

Re: Selecting target retirement for my 401(k)

If I wanted 15% bonds, I can look at something like the 2050 but it's at 10% bonds. Would there be any negative to selecting that as well as putting an extra, say, 3% into Vanguard Total Bond Market II Index Fund Investor Shares, or Vanguard Total International Bond Index Fund Investor Shares? Or sh...
by benevo
Tue Jun 06, 2017 10:58 am
Forum: Investing - Help with Personal Investments
Topic: Selecting target retirement for my 401(k)
Replies: 23
Views: 1400

Re: Selecting target retirement for my 401(k)

I agree with the above posts. At 0.08% that's about as good as you'll get on a VG target date fund. Since you'll likely be in the workforce for another 30+ years and this is tax deferred, you can be a bit more aggressive at your age so 80/20 seems reasonable. Thanks! Would the 86.9/13.1 be too aggr...
by benevo
Tue Jun 06, 2017 10:25 am
Forum: Investing - Help with Personal Investments
Topic: Selecting target retirement for my 401(k)
Replies: 23
Views: 1400

Re: Selecting target retirement for my 401(k)

If you want to use a target retirement fund then I suggest using the same fund in both accounts. 2) In my opinion at age 29 an asset allocation of 80/20 stocks bonds is reasonable. Thanks! So in my TRF options, 2035 or 2040 would probably be best then, yes? - the former at 20.5% bonds, the latter a...
by benevo
Tue Jun 06, 2017 8:25 am
Forum: Investing - Help with Personal Investments
Topic: Selecting target retirement for my 401(k)
Replies: 23
Views: 1400

Selecting target retirement for my 401(k)

Good morning! I had received poor advice from an adviser when I started my job and didn't select the best portfolio options (my fault!). I'm looking to now update my 401(k) to the 2050 target retirement fund. Some background: - I'm 29 years old and a newer investor - I am actively contributing heavi...
by benevo
Thu May 25, 2017 7:08 am
Forum: Local Chapters and Bogleheads Community
Topic: White Plains, NY
Replies: 0
Views: 583

White Plains, NY

Hello Bogleheads!

Marco...Polo....any of you in White Plains (or Westchester as a whole) area? Wasn't sure if a chapter existed there or not?

Would love to meet and say hi if so!
by benevo
Thu May 25, 2017 7:07 am
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

Thanks! No, my thinking is more because my Roth IRA is currently on the 2055 fund (though I'll likely update to 2050). I wonder if I make the IRA the list of funds above, and change my 401(k) to the retirement fund - that way they're not both the same. Thoughts? There is no real problem keeping ide...
by benevo
Wed May 24, 2017 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

I feel like this is a dumb question, but is there any negative to splitting contributions amongst some of those options you suggest and the target fund? Nothing terrible, but if it gives you the illusion of better diversification then you are misleading yourself. Thanks! No, my thinking is more bec...
by benevo
Wed May 24, 2017 9:54 am
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

The answer to which is better, pre-tax or Roth (after-tax is a separate issue), depends on your current income and what you expect your income to be in retirement. Here are two articles by tfb about this issue: The Case Against Roth 401(k) Roth 401(k) for People Who Contribute the Max Thanks again ...
by benevo
Wed May 24, 2017 7:23 am
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

Current gross is at just about $100k, about $9k of which is side income from my side business - I use all net income from that towards savings so I really only count about $90k my 'reliable' salary. As a younger worker in martech, I expect increases but can't frankly say how I expect it to change. ...
by benevo
Tue May 23, 2017 7:01 pm
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

The answer to which is better, pre-tax or Roth (after-tax is a separate issue), depends on your current income and what you expect your income to be in retirement. Here are two articles by tfb about this issue: The Case Against Roth 401(k) Roth 401(k) for People Who Contribute the Max My plan's inv...
by benevo
Tue May 23, 2017 6:58 pm
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Re: Contribution pre/post/Roth?

You asked, so, - what is your current gross income? - what is your expectation for future income increases, relative to inflation? G'day! Current gross is at just about $100k, about $9k of which is side income from my side business - I use all net income from that towards savings so I really only c...
by benevo
Tue May 23, 2017 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Contribution pre/post/Roth?
Replies: 20
Views: 1328

Contribution pre/post/Roth?

Good day, Bogleheads! My 401(k) is currently with Fidelity, where I put 100% of my contributions in as a Roth 401(k). (I have the options of pre-tax, roth, or post-tax which I imagine are all pretty standard). This was under the advice of my financial adviser, who I am slowly leaving to handle thing...
by benevo
Thu May 18, 2017 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Annual house maintenance costs
Replies: 30
Views: 2839

Re: Annual house maintenance costs

If properly maintained it can last 50-100 years or more no problem. The original roof was 130 years old when we replaced it. A new house with typical shingles on the roof may need a new roof every 15 years. Kinda off-topic yet related to value of roof - anyone have any thoughts as to value and main...
by benevo
Thu May 18, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Annual house maintenance costs
Replies: 30
Views: 2839

Annual house maintenance costs

Good day, Bogleheads! I read somewhere that it's smart to save 1-2% of the value of your house each year to put aside for maintenance costs - new lawn mower, fixing siding, driveway patching, etc. General maintenance costs. So, a house valued at $350k = $3,500-7,000/year. Curious what people here (1...
by benevo
Thu May 11, 2017 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Picking better options in my 401(k)
Replies: 5
Views: 428

Re: Picking better options in my 401(k)

Thanks for the suggestions. For my own ignorant knowledge, what makes the target fund better in this case than selecting specifics?
by benevo
Wed May 10, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Picking better options in my 401(k)
Replies: 5
Views: 428

Picking better options in my 401(k)

Hello gang! I'm looking to diversify my 401(k) portfolio. I'm a newer investor - 29-years-old, started contributing 7 years ago a small (2-4%) amount and now contribute 7% and receive a 4% match from employer. I currently have about $50k in Fidelity 401(k). My current portfolio is: ARTISAN MID CAP I...
by benevo
Thu Apr 27, 2017 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1624

Re: Refinance student loan to Earnest?

Great additional thoughts, all. One thing I also learned, Earnest lets you adjust your time/rate as you will. So, I can start with a higher monthly payment and lower rate and at any* time, adjust so that I'm paying less minimum monthly - but the rate will go up a bit. * https://help.earnest.com/hc/e...
by benevo
Wed Apr 26, 2017 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1624

Re: Refinance student loan to Earnest?

Thank you all for the great info! I have a lot to look through and consider. :)
by benevo
Wed Apr 26, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1624

Re: Refinance student loan to Earnest?

I refinanced with Sofi a couple of years ago - moved to 5y variable rate, started at 1.9%, which has gone up since then. Sofi had some small customer service issues, but nothing critical. Initially didn't get the lowest rate advertised, so I emailed them back and then got the lowest rate. Email Ear...
by benevo
Wed Apr 26, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1624

Re: Refinance student loan to Earnest?

Taylor Larimore wrote:benevo:

What about closing costs; transfer fees, credit checks, etc..?

Best wishes.
Taylor


Good morning! These are student loans, not their mortgages. But, there are no transfer fees, no loan origination fees, no early payoff fees, etc. Thanks!
by benevo
Wed Apr 26, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1624

Refinance student loan to Earnest?

Good morning Bogleheads! I have about $32,000 left in my graduate student loans. That's the total of 3 loans, all federal through Navient. My current interest rate is 6.8%, with a 0.25% discount for autopay - so, my actual interest rate is 6.55%. My monthly payment is about $500. I have approximatel...
by benevo
Thu Apr 20, 2017 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA transfers, indirect rollovers, contributions, oh my!
Replies: 7
Views: 593

Re: Roth IRA transfers, indirect rollovers, contributions, oh my!

There seems to be some definition gap. The bit about withdrawing penalty-free doesn't apply. If you take money out of an IRA, Roth or TIRA, then you have 60 days to put it into an IRA or similar account or it's a permanent withdrawal. If you do redeposit, it's an indirect rollover. That's what Vang...
by benevo
Thu Apr 20, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA transfers, indirect rollovers, contributions, oh my!
Replies: 7
Views: 593

Re: Roth IRA transfers, indirect rollovers, contributions, oh my!

In that case, your only options are to do a direct custodian transfer, which you tried ran into a roadblock, or an indirect rollover. Otherwise, if you take the money out you've lost the Roth space forever, and might owe some tax on any gains. Follow Vanguard's lead on how to do that. What do you m...