Search found 483 matches

by dsmil
Wed Jul 19, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rates in 3 years?
Replies: 26
Views: 2257

Re: Mortgage Rates in 3 years?

1) What's a reasonable % of take home pay for your monthly payment - (mortgage payment) + (insurance) + (taxes)? Dave Ramsey says 25% but that seems overly conservative.... The problem with the various ratios for housing costs is that income levels really change things. Someone making $1M per year ...
by dsmil
Wed Jul 19, 2017 11:34 am
Forum: Investing - Help with Personal Investments
Topic: Options for College Savings
Replies: 17
Views: 725

Re: Options for College Savings

A $2k deduction is worth like $100 so I wouldn't go with the high-fee Massachusetts' plan. If going the 529 route, the Vanguard 529 plan (through Nevavda) would make more sense because you'll get a great selection of low-cost funds. I personally am using our Roths to save for college before investi...
by dsmil
Wed Jul 19, 2017 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Options for College Savings
Replies: 17
Views: 725

Re: Options for College Savings

I personally am using our Roths to save for college before investing heavily in the 529's, but it's a fine option.
by dsmil
Mon Jul 17, 2017 12:28 pm
Forum: Personal Consumer Issues
Topic: How Much Would You Spend on a Blender?
Replies: 43
Views: 2215

Re: How Much Would You Spend on a Blender?

I recently spent $80 on a Nutribullet Pro 900. It replaced an original Magic Bullet which I had for 10 years. We only use it to make smoothies so there isn't a need to spend more than we have to.
by dsmil
Thu Jun 08, 2017 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Any tips on creating a budget for a SAHM ?
Replies: 24
Views: 1870

Re: Any tips on creating a budget for a SAHM ?

I think you need to communicate the benefits of being more frugal to your wife. My wife spends less than she used to, and it's largely due to me explaining to her the importance of retirement savings, and setting goals (down payment, payment down loans), that required us to spend less money as a fam...
by dsmil
Tue May 16, 2017 7:40 am
Forum: Personal Finance (Not Investing)
Topic: How to stay on a budget?
Replies: 31
Views: 3525

Re: How to stay on a budget?

I think it's about creating a realistic budget and tracking your expenses. If a visit to the vet throws off your budget, than it's not a good budget. We've been keeping a budget for years now, and although it's annoying to write all of our expenses down, it helps keep us on track. We have a $500 per...
by dsmil
Mon May 15, 2017 6:58 am
Forum: Personal Consumer Issues
Topic: Tipping for restaurants where you order at the counter
Replies: 49
Views: 4976

Re: Tipping for restaurants where you order at the counter

No for 1 and 2, and depends on #3. For #3, we have 2 small, locally owned restaurants where we tip in this situation. We like the places and they know us there, so we don't mind giving them a few more dollars. We then have a larger, chain restaurant which also fits into this category, and we don't g...
by dsmil
Mon May 08, 2017 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Stay home with kids?
Replies: 103
Views: 7986

Re: Stay home with kids?

I would do whatever would make you the most happy because your happiness will be noticed by the kids. Staying at home (and being good at it) is a large sacrifice and is easier for parents who are not giving up rewarding careers and who are very committed and excited to stay at home. Staying at home ...
by dsmil
Tue Apr 25, 2017 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]
Replies: 15
Views: 1271

Re: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]

I believe that normally with Chase, you can basically get the bonus every 24 months, assuming that you've already cancelled the card. So if you got the bonus 4 years ago, you could cancel the card, and then immediately sign up and get the bonus again.
by dsmil
Mon Apr 10, 2017 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Choosing to put less than 20% down...why is this wrong?
Replies: 51
Views: 5198

Re: Choosing to put less than 20% down...why is this wrong?

I don't think it's that big of a deal assuming that you are comfortable with the slightly higher payment. Maybe you can see if a 80/10/10 (10% down, 10% HELOC) or 80/5/15 (15% down, 5% HELOC) loan is available instead of definitely going the PMI route.
by dsmil
Wed Apr 05, 2017 8:21 am
Forum: Personal Consumer Issues
Topic: Where to buy new iPhone
Replies: 32
Views: 2927

Re: Where to buy new iPhone

In January, I got an iphone 7 at the Verizon store for $10 per month for 2 years.
by dsmil
Tue Apr 04, 2017 10:21 am
Forum: Investing - Theory, News & General
Topic: Social Security for Millennials
Replies: 144
Views: 14944

Re: Social Security for Millennials

pennstater2005 wrote:Am I a millennial? I'm 38.


It seems like the most often cited range is people born from 1980-1996, but there are other ranges out there.
by dsmil
Tue Apr 04, 2017 10:19 am
Forum: Investing - Theory, News & General
Topic: Social Security for Millennials
Replies: 144
Views: 14944

Re: Social Security for Millennials

I think Bogleheads is the wrong place to ask this question. Millennials on Bogleheads will tend to be good planners/savers and will have enough to live off by retirement, making any SS "gravy". However, I imagine a vast majority of millennials will be depending on SS as a primary source o...
by dsmil
Tue Apr 04, 2017 8:09 am
Forum: Investing - Theory, News & General
Topic: Social Security for Millennials
Replies: 144
Views: 14944

Re: Social Security for Millennials

I've put together a retirement budget and feel like I'll need an income replacement closer to 50%, not 85%. I'm 30+ years away from full SS retirement age, but if income stays consistent, I save 12% of gross income, and I'm getting 5% real return, I should replace 100% of my income. With a 3% real r...
by dsmil
Fri Mar 10, 2017 9:10 am
Forum: Personal Consumer Issues
Topic: How Do You Share Expenses?
Replies: 52
Views: 4395

Re: How Do You Share Expenses?

We've always shared accounts and written down all of our spending. This was easy because we moved in together after college and didn't really have any money. I like that we've always been very open about money because it lets us focus on hitting goals together.
by dsmil
Fri Mar 10, 2017 9:06 am
Forum: Investing - Help with Personal Investments
Topic: Pay off student loan OR more to Roth IRA
Replies: 18
Views: 810

Re: Pay off student loan OR more to Roth IRA

Are you already contributing a good amount towards retirement? Do you have a good emergency fund? I think it's good to build up an emergency fund first, and it can be done so in the Roth. If you have the emergency fund are already contributing a good amount towards retirement, than paying off the lo...
by dsmil
Mon Mar 06, 2017 1:07 pm
Forum: Personal Consumer Issues
Topic: Amazon Fire TV Stick with KODI - Anyone try this?
Replies: 17
Views: 2571

Re: Amazon Fire TV Stick with KODI - Anyone try this?

The jailbroken ones are definitely shady legally, but are pretty awesome.
by dsmil
Mon Mar 06, 2017 8:32 am
Forum: Personal Finance (Not Investing)
Topic: How much do you spend on food in a year?
Replies: 155
Views: 8517

Re: How much do you spend on food in a year?

Our family of 2 adults and a toddler spends $7k annually at the grocery store (including toiletries, cleaning supplies, OTC medicine, etc), 3k dining out (including drinks/coffee), and another 1k on vacation. We don't go out for lunch during the week, but we do usually go out for a couple of inexpen...
by dsmil
Fri Feb 24, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement vs Down Payment
Replies: 32
Views: 2804

Re: Retirement vs Down Payment

Definitely a tough choice here. Financially, getting all of the free money that you can is the best bet but life isn't all about finances. Option 2 is definitely a reasonable option that would get you into a house more quickly. You'd still be saving 20% towards retirement and would be giving up $1,3...
by dsmil
Thu Feb 23, 2017 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Credit card: Cash versus Flight Miles
Replies: 62
Views: 5624

Re: Credit card: Cash versus Flight Miles

Cash back cards can't really compare because with card churning, you're earning the huge sign up bonuses. Earning enough points (or cash back) from spending to earn (or pay for) flights takes a lot of spending, but if you are planning a trip, I'd still side with points. The points required for fligh...
by dsmil
Wed Feb 22, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Sofi
Replies: 12
Views: 1130

Re: Sofi

I used them for student loans and they were very good. I also recently did a quick mortgage quote for fun and found that their rates were not very good.
by dsmil
Wed Feb 22, 2017 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Is 60/40 too conservative for 31 year old?
Replies: 69
Views: 7286

Re: Is 60/40 too conservative for 31 year old?

It's too conservative for an average 31 year old, but it seems like you are in great shape and don't need to take on anymore risk than you need to.
by dsmil
Wed Feb 15, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs Potential Higher Mortage Rate
Replies: 16
Views: 1048

Re: Student Loans vs Potential Higher Mortage Rate

Just really unsure what we are going to do at this time. I just don't like the prospect of paying off 3% student loans and then taking out a mortgage @ 5 or 6% or what ever it could be. For all I know it could remain the same also. This is understandable and I've also paid down a lot of student loa...
by dsmil
Wed Feb 15, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs Potential Higher Mortage Rate
Replies: 16
Views: 1048

Re: Student Loans vs Potential Higher Mortage Rate

Ok I think I misunderstood you in your original post. I thought that you were trying to pay the loans off in the fall of 2017 but you already paid a chunk off in the fall of 2016. It seems like you really want to build a house and in my opinion, paying low rent and saving would get you there faster ...
by dsmil
Tue Feb 14, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs Potential Higher Mortage Rate
Replies: 16
Views: 1048

Re: Student Loans vs Potential Higher Mortage Rate

It seems like you're deciding to go the FHA route, and either keeping your lower interest rate loans and moving earlier, or paying off all of your student loans and moving in 2 years. From a financial perspective, I would do whatever you could to avoid a FHA loan rather than moving early because you...
by dsmil
Mon Feb 13, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: OK to apply for CC right before renting new apt?
Replies: 1
Views: 252

Re: OK to apply for CC right before renting new apt?

Nope, go for it. Any effect would be pretty minimal (you'll also lower your utilization rate which is good) and if you are starting with an 810, then your credit score shouldn't have a negative effect on getting the apartment.
by dsmil
Tue Feb 07, 2017 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford?
Replies: 19
Views: 2011

Re: How Much House Can I Afford?

I don't see how a $500k house wouldn't work with $200k of income coming in, and a sizeable down payment. I would throw some numbers into a mortgage calculator and see how it fits into your budget, along with some maintenance costs. I think that the price/income ratios that people throw around are ov...
by dsmil
Thu Feb 02, 2017 9:21 am
Forum: Personal Consumer Issues
Topic: Pet insurance for new puppy
Replies: 77
Views: 6361

Re: Pet insurance for new puppy

We've never done insurance but we did do a puppy wellness plan offered by Banfield (vet inside Petsmart) during our puppy's 1st year. It was a monthly fee and saved us a good amount of money since there were so many visits in that first year. Now we just do shots from traveling vet and it is very ch...
by dsmil
Tue Jan 31, 2017 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: Move EF to Roth?
Replies: 8
Views: 882

Re: Move EF to Roth?

I like the idea of moving emergency money to the Roth in order to max it, and keeping it in something safe. It's not that much of a hassle to withdraw Roth contributions (at least in my case), and if you need to use emergency money, you'll use your savings accounts first.
by dsmil
Tue Jan 31, 2017 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Approaching 30 - Best use of excess cash for goals
Replies: 11
Views: 1581

Re: Approaching 30 - Best use of excess cash for goals

I'm same age, OP, just slightly higher income (2 earners). We put 30% away for retirement. You don't say how old your mortgage is but mine started out only 2/3 as big as yours is now. I certainly wouldn't get a bigger one than you are already carrying. I think you are stretching your income too far...
by dsmil
Tue Jan 31, 2017 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Approaching 30 - Best use of excess cash for goals
Replies: 11
Views: 1581

Re: Approaching 30 - Best use of excess cash for goals

How much is your PMI and how close are you to eliminating it? PMI usually increases your effective mortgage rate by 2% to 4% or more on the PMI equity. $250 per month and on a normal payment schedule, we're still 5 years away. If you really think you need a bigger house, then I would determine what...
by dsmil
Mon Jan 30, 2017 6:14 pm
Forum: Investing - Help with Personal Investments
Topic: Approaching 30 - Best use of excess cash for goals
Replies: 11
Views: 1581

Re: Approaching 30 - Best use of excess cash for goals

1.$19k student loans @ 4.4% variable(Pay Off) :happy 2.Waiting 3 years may allow us to put 20% (make it happen) :happy In that order :mrgreen: That would be great but it's more of an either or scenario. We could accelerate the loan payments and come in with 10-15% down and no loans, or keep the loa...
by dsmil
Mon Jan 30, 2017 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Approaching 30 - Best use of excess cash for goals
Replies: 11
Views: 1581

Re: Approaching 30 - Best use of excess cash for goals

Triple digit golfer wrote:Do you have an emergency fund?

It's a matter of when, not if, you'll need money for house repairs and maintenance. Is that factored into your monthly budget?


Yes, we have a 6 month emergency fund and have $6k per year in our budget for home/car repairs, and miscellaneous purchases.
by dsmil
Mon Jan 30, 2017 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Approaching 30 - Best use of excess cash for goals
Replies: 11
Views: 1581

Approaching 30 - Best use of excess cash for goals

Bogleheads, I'm approaching 30 this year and would like to assess our current financial situation, and the best way to meet our future goals. We are a one income household, with a 2nd child on the way, and have a goal of moving into a larger house in 1-3 years. We should be able to put 10% down on a...
by dsmil
Fri Jan 27, 2017 9:39 am
Forum: Investing - Theory, News & General
Topic: Bobbie Christensen "She explains how to find safe and secure investments with 100%+ growth per year."
Replies: 55
Views: 5516

Re: "She explains how to find safe and secure investments with 100%+ growth per year."

Interesting info from the publisher's website: "We can also guarantee that you will not get rich quick with this method of investing. People who get rich quick also lose it quickly. But we can guarantee that you can invest with very little money in safe companies that have been proven to grow a...
by dsmil
Thu Jan 19, 2017 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 141
Views: 18237

Re: Best Financial Moves You've Made

Getting engaged in college because I wasn't expected to buy an expensive ring.
by dsmil
Thu Jan 19, 2017 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 6574

Re: What monetary value has your education provided you?

I graduated in '09 and 7 years into my career, I've made 5x the cost of my 4 year undergrad degree in accounting.
by dsmil
Thu Jan 19, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Never had a credit card, should I get one?
Replies: 71
Views: 3655

Re: Never had a credit card, should I get one?

As long as you have your finances in order, and pay the full balance every month, credits card can be great. You can maximize the rewards by receiving sign up bonuses and credit card churning, but even keeping it simple and receiving cash back is nice.
by dsmil
Thu Jan 19, 2017 9:30 am
Forum: Personal Consumer Issues
Topic: Toaster Oven Recommendations
Replies: 34
Views: 2427

Re: Toaster Oven Recommendations

I've had the same Cuisinart convection toaster oven for 10 years and it's great.
by dsmil
Wed Jan 18, 2017 3:24 pm
Forum: Personal Consumer Issues
Topic: Anyone rent toys?
Replies: 27
Views: 3296

Re: Anyone rent toys?

We basically use Craigslist for this.
by dsmil
Tue Jan 17, 2017 3:48 pm
Forum: Investing - Theory, News & General
Topic: Spending HSA money versus other
Replies: 21
Views: 2319

Re: Spending HSA money versus other

My plan is to pay everything out of pocket, then withdraw the HSA funds, then move the money over to my Roth. Therefore, I'm getting the tax deduction and never paying taxes on the money, no matter what I use the funds for in retirement.
by dsmil
Tue Jan 17, 2017 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: How variable is your total income (5 year history)?
Replies: 30
Views: 3481

Re: How variable is your total income (5 year history)?

My income has been affected by annual raises, one promotion, and one job change. 2010 - 100% 2011 - 107% 2012 - 120% 2013 - 127% 2014 - 160% 2015 - 180% 2016 - 193% Our household income has been affected by my wife starting to stay home a couple of years ago. Our monthly savings amount has been affe...
by dsmil
Tue Jan 17, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Why nobody understands importance of high-deductible insurance?
Replies: 115
Views: 11448

Re: Why nobody understands importance of high-deductible insurance?

The average person is scared of high deductibles, whether it's for health insurance or car insurance. I'll give you an example: At my workplace, my company opted for a plan which increased our deductible rather than significantly increasing our premiums. At the meeting with our insurance representat...
by dsmil
Fri Jan 13, 2017 9:56 am
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 18515

Re: "Millennials may need to double how much they save for retirement"

Cuts to social security and mediocre market returns are definitely possibilities in the future. I think that we'll see most people working longer, rather than saving more, because many people are either not able to or not willing to sacrifice in order to save more. For Bogleheads, most of us plan fo...
by dsmil
Thu Jan 12, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Rolled into Roth IRA?
Replies: 4
Views: 256

Re: 401k Rolled into Roth IRA?

Rolling from Traditional 401k to Roth IRA is taxable. It is essentially a Roth conversion and does not use up your Roth IRA contribution space. Great. This is my scenario. Will I have to pay taxes right away or wait until next year's income taxes are due? Thank you I believe that you'd owe when you...
by dsmil
Thu Jan 12, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Advice for home purchase
Replies: 6
Views: 599

Re: Advice for home purchase

Hi, I'm looking for some advice for my specific situation: -We definitely wouldn't be able to buy the ideal Boglehead way--we could put 5% down (would this allow us to get a conventional loan where we can work to get rid of the PMI or does this limit us to FHA loans only?) We bought a few years ago...
by dsmil
Wed Jan 11, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your emergency fund?
Replies: 80
Views: 7249

Re: Where do you keep your emergency fund?

Ours are split between Ally Bank and our Roths with Vanguard (ST Federal Funds & ST Bond Index Fund).
by dsmil
Mon Jan 09, 2017 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Do Mortgage Terms Improve with Larger Down Payment? (<20% down)
Replies: 3
Views: 428

Re: Effect of down payment on loan offerings (<20% down)

Thanks Meg, that's very good to know. It seems like a good idea would be to save 10% to open up the possibility of a lower rate or 80/10/10 loan. If I'd rather instead pay off the loans at that point, I could always do it at that time.
by dsmil
Mon Jan 09, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do Mortgage Terms Improve with Larger Down Payment? (<20% down)
Replies: 3
Views: 428

Do Mortgage Terms Improve with Larger Down Payment? (<20% down)

Hello Bogleheads, For those who have put less than 20% down on homes (not FHA), have you experienced more favorable mortgage offerings based on the amount that you have put down? Obviously PMI premiums are affected, but what about interest rates? We're most likely going to move in the next 1-2 years...

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