Search found 18 matches

by beth65
Tue Jul 18, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Paying off debt vs. max savings
Replies: 21
Views: 2112

Re: Paying off debt vs. max savings

I follow these boards somewhat frequently, and I know that many people here are more fiscally conservative, but why do so many people always recommend paying off any debt first? Why is debt-free always the way to go? Because many of us, along with millions of Americans, have been burned badly with ...
by beth65
Tue Jul 18, 2017 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Paying off debt vs. max savings
Replies: 21
Views: 2112

Re: Paying off debt vs. max savings

Both me and my DW now have fairly stable jobs with a pretty high rate of income (combined +/- $150k/yr, with pay raises of abt 5%/yr), after many years of low-paying jobs, graduate school, time-off for kids, etc. At this point we can max out our 401(k)/457(b) plans with no problem. We also have som...
by beth65
Tue Jul 18, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Paying off debt vs. max savings
Replies: 21
Views: 2112

Re: Paying off debt vs. max savings

I follow these boards somewhat frequently, and I know that many people here are more fiscally conservative, but why do so many people always recommend paying off any debt first? Why is debt-free always the way to go? I have read so many books on good debt vs bad debt (Thomas Anderson's The Value of ...
by beth65
Mon Jul 17, 2017 1:28 am
Forum: Investing - Help with Personal Investments
Topic: Where to allocate lump sum payout
Replies: 4
Views: 407

Where to allocate lump sum payout

Looking for advice on best use of a large profit on the sale of a home. We sold a home and currently have $160k cash surplus. No consumer debt other than one car loan at $400 per month. Our new mortgage is $2455 a month on a 15 year fixed (we put 20% down). There is a total of $250k of school loans ...
by beth65
Tue Jun 13, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA or HMO/FSA
Replies: 10
Views: 661

Re: HDHP/HSA or HMO/FSA

That is an expensive HDHP family plan (12.5k a year on premiums) for a $7k deduc. It sounds like the employer may not be offering much of a subsidy to you. Nonetheless, having two health conditions might make it more feasible to do the HDHP and define your annual cost at $19.5k with an HSA of preta...
by beth65
Wed Jun 07, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA or HMO/FSA
Replies: 10
Views: 661

Re: HDHP/HSA or HMO/FSA

Either your HDHP plan is "grandfathered" or they are not in ACA compliance (ACA requires both fully insured and self funded plans to cover Preventive Care 100% no cost share...I would confirm this with HR) You need to better understand your family annual healthcare spend to make a fair co...
by beth65
Wed Jun 07, 2017 7:25 am
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA or HMO/FSA
Replies: 10
Views: 661

Re: HDHP/HSA or HMO/FSA

Your logic is flawed here. The HDHP costs 12,500 not 19,000. The 6750 is your money as an investment, not a cost. The 7,000 deductible is only a cost if you have that much in medical expenses. The real issue is do you want a PPO or HMO? HMOs are almost always cheaper but come with significant restr...
by beth65
Tue Jun 06, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA or HMO/FSA
Replies: 10
Views: 661

HDHP/HSA or HMO/FSA

My husband is starting a new job, there are two health insurance options. Normally the HDHP plan would seem like the better option since the HSA can be used as an investment vehicle, but the premiums for both plans are high and the HDHP option would not save a lot of money for the risk of the higher...
by beth65
Thu May 18, 2017 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Annual house maintenance costs
Replies: 30
Views: 2714

Re: Annual house maintenance costs

Another thing to consider is the climate/part of the country. I'm from the NE and moved to the SE 4 years ago, and we have to put much more maintenance into our home that is only 6 years old than the homes up north that were 50+ years old. The older homes did have higher costs for things like roofin...
by beth65
Thu May 18, 2017 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to sell a house?
Replies: 22
Views: 2124

Re: How to sell a house?

I agree. Most people want to come in and renovate or just gut the house and redesign it the way that they like. It's not worth the headaches and the cost to you to do it yourself. My stepfather did this and lost money, even though they tried to do a few minimal upgrades and keep them neutral. It sti...
by beth65
Thu May 18, 2017 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1615

Re: Buy 1st House Cash?

I'm no expert by any stretch, but my concern would be liquidity. You could take out a home equity loan if you do need cash and aren't in a position to sell your house, but then you are paying interest versus only paying 50% down on the house and keeping the other 50% cash for investments which have ...
by beth65
Wed May 10, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: General question of balance and compromise
Replies: 26
Views: 2053

General question of balance and compromise

I know this is more of a personal topic than a financial one, but where do you strike a balance between saving and cutting expenses and quality of life? We can obviously all save more by living in a tiny house and driving an old car purchased in cash in a rural area, but in all seriousness, where do...
by beth65
Wed May 10, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Re: Home purchase question

With $200k still outstanding in student loan debt, you're falling into the classic lifestyle inflation trap. I agree with your husband - buckle down now. 1) Buy the cheaper house - if your husband hates the new job, the transaction costs are cheaper to get out. The kids may actually prefer the more...
by beth65
Wed May 10, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Re: Home purchase question

With $200k still outstanding in student loan debt, you're falling into the classic lifestyle inflation trap. I agree with your husband - buckle down now. 1) Buy the cheaper house - if your husband hates the new job, the transaction costs are cheaper to get out. The kids may actually prefer the more...
by beth65
Mon May 08, 2017 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Re: Home purchase question

A few things: First, do not think of the home as an investment.. it is a lifestyle choice. Bringing up a family with a nice yard etc. is all about lifestyle. If you buy a house for $400K and sell it for $380K (ignore transaction costs for now although they are important), you will have spent $20K t...
by beth65
Mon May 08, 2017 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Re: Home purchase question

Sounds like no matter what, this next home is going to be a loss for you (transaction costs, interest paid, upgrades, basic furnishings, property taxes, and very little potential for increase in home price). At least there is a healthy salary to have that luxury and you just need to realize that th...
by beth65
Mon May 08, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Re: Home purchase question

There are almost no home rentals, particularly in the only good school district in the area. There are a few apartment complexes in the area, but they don't have more than 3 bedrooms, and we want a backyard for our dog and our kids. I was arguing to consider a rental, but my husband is very traditio...
by beth65
Mon May 08, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Home purchase question
Replies: 22
Views: 2283

Home purchase question

My husband and I are relocating to a new city for a great job opportunity. We are very fortunate to cash out on our house and make a great profit of $200k in 4 years. In addition, he will have a big salary increase and will be making $400k per year. We stretched ourselves maxing out retirement contr...

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