Search found 32 matches

by jezo
Tue Aug 15, 2017 7:16 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

It's important not to just look at the size of your monthly payments but the actual dollar amount you're making vs spending on a house. 6k/month means 72k per year. I like the 2x salary rule for figuring out how much house you can afford. It says that your mortgage shouldn't be more than 2x your an...
by jezo
Tue Aug 15, 2017 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

House payment will be $1584 (includes HoA) Does the house payment include property tax? This could be substantial in some locations (Texas, NJ, NY) even for modestly priced homes. What about homeowner insurance? With HOA, you must be careful to review the books of the association to make sure there...
by jezo
Tue Aug 15, 2017 4:39 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

I'm responding to this because I was in your shoes a year ago. I bought a house knowing I would be overextended. In my case, I have been okay financially, but I have encountered some of the highest levels of stress of my life. If I could do it over, I would have waited a year. Here are a few things...
by jezo
Tue Aug 15, 2017 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

What kind of RE contract allows you to back out within 10 days? Is it contingent on financing or inspection? You might not be able to back out for other reasons. My realtor said that the ball is my court, I have 10 days to back out and it could be for something as simply as the dog next door barks ...
by jezo
Tue Aug 15, 2017 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

I don't think there is any reason to panic. You probably just can't do everything want for a while. $106 to ESPP? Probably not. Get the 401k loan paid up. Do you have to only pay the minimum? Can you lump sum and stomp on it faster? Maybe you have to do 8% instead of 12% for a year or two and up th...
by jezo
Tue Aug 15, 2017 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

I agree with others who've said you will be overextended. The budget you cite will be very, very tight--just a little bit of extra stress will break it. In effect, you would be one or two unexpected expenses away from getting into a debt spiral (or worse). Think about it that way: If your car dies ...
by jezo
Tue Aug 15, 2017 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

I agree with others who've said you will be overextended. The budget you cite will be very, very tight--just a little bit of extra stress will break it. In effect, you would be one or two unexpected expenses away from getting into a debt spiral (or worse). Think about it that way: If your car dies ...
by jezo
Tue Aug 15, 2017 2:32 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

Your ratios are fine for getting approved for the mortgage. Your monthly PITI + HOA fee is 26% of your gross. That seems fine. Are you young and expecting career growth in the near term? If so things will be tight until the 401k loan (which let me guess, was used for the down payment?) is finished ...
by jezo
Tue Aug 15, 2017 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

Seems too tight to me, especially since you don't have many other assets at 42. Will you have a pension? How will you pay for a home repair when needed? What is your current rent expense? I have a 401K & profit sharing currently its at $180 My rent is currently $860 but my lease is coming up and I ...
by jezo
Tue Aug 15, 2017 1:33 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

Seems too tight to me, especially since you don't have many other assets at 42. Will you have a pension? How will you pay for a home repair when needed? What is your current rent expense? I have a 401K & profit sharing currently its at $180 My rent is currently $860 but my lease is coming up and I ...
by jezo
Tue Aug 15, 2017 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

Liberty1100 wrote:
Tue Aug 15, 2017 12:16 pm
Do you have a car payment?

A lot of people assume there is when they consider how much a house payment should be. If you have no car, then this house payment may be more acceptable.
No car payment but a 401K loan that is payroll deducted $226 per pay period
by jezo
Tue Aug 15, 2017 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

That's much tighter than most any boglehead is going to give the okay on. But, probably not too far out there or possibly better than most average joe folks. After taxes and the one bill and 401k contributions, sounds like you $2300/month left once the mortgage is paid. Are you single, young, and j...
by jezo
Tue Aug 15, 2017 11:42 am
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

Re: please help...am I overextended - first home

Snowjob wrote:
Tue Aug 15, 2017 11:29 am
how many years left on the 401k loan?

also please define net pay -- is this after all taxes, 401k contributions and loan payments?

2 years left on 401K loan
Net pay is after taxes, contributions, and loan payment as well as union dues

I am expected to receive a raise in December
by jezo
Tue Aug 15, 2017 11:17 am
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 63
Views: 3763

please help...am I overextended - first home

I put an offer on a house and I am in a 10 day period where I am still allowed to back out of contract.... My lender says that my ratios are good but I need your input. I will be using an FHA loan Gross Pay - $6,000 (will be receiving a raise at the end of the year so this number should bump up a li...
by jezo
Tue Aug 08, 2017 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: First home purchase - required information - any suggestions
Replies: 10
Views: 895

First home purchase - required information - any suggestions

I'm trying to get ahead of the game as far as the information I will need for a first home purchase.
I'm aware of needing bank statements and last years W2.
How many years back does a lender need to see W2?
by jezo
Mon Jul 31, 2017 8:04 pm
Forum: Personal Consumer Issues
Topic: protecting personal information
Replies: 14
Views: 1085

protecting personal information

Hello BH.
I would like to keep my address private. If anyone wanted to look up my name they could also find my address. Does anyone know how to keep personal info confidential?
by jezo
Mon Jul 31, 2017 7:56 pm
Forum: Personal Consumer Issues
Topic: Non Stick frying pan
Replies: 56
Views: 3544

Re: Non Stick frying pan

I have a ceramic pan that I got from TJ MAXX. It works really well my eggs never stick to the pan.
by jezo
Fri Jul 21, 2017 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

Re: 401K

Asset allocation. You had not indicate a desired asset allocation. At age 42 I suggest an asset allocation of around 70/30 or 60/40stocks/bonds. This is expected to very substantially reduce volatility (risk), with only a relatively moderate decrease in return. Graph, "An Efficient Frontier: t...
by jezo
Thu Jul 20, 2017 11:47 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

Re: 401K

Vanguard Institutional Index Fund Institutional Plus (VIIIX) ER 0.02% is a S&P 500 index fund, and so is a well diversified domestic stock fund with a very low expense ratio. That fund was a very good choice for a fund to use in your 401k. I seriously question the idea of keeping "most fun...
by jezo
Tue Jul 18, 2017 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

Re: 401K

Some people at work recommended someone at work who manages their 401K and were really happy with them. Before I started researching myself I signed up with him. He keeps most funds in cash and small amount in Dodge and Cox. Before that I was using VIIIX - Vanguard Institutional Index Fund and some...
by jezo
Tue Jul 18, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

Re: 401K

Also do I select change my future contributions or change how my current balance is invested?

Thank you for your time
by jezo
Tue Jul 18, 2017 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

Re: 401K

Some people at work recommended someone at work who manages their 401K and were really happy with them. Before I started researching myself I signed up with him. He keeps most funds in cash and small amount in Dodge and Cox. Before that I was using VIIIX - Vanguard Institutional Index Fund and some...
by jezo
Mon Jul 17, 2017 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: 401K
Replies: 11
Views: 908

401K

Some people at work recommended someone at work who manages their 401K and were really happy with them. Before I started researching myself I signed up with him. He keeps most funds in cash and small amount in Dodge and Cox. Before that I was using VIIIX - Vanguard Institutional Index Fund and some ...
by jezo
Thu Jul 06, 2017 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: What is a Normal Spending Percentage of Take-Home Pay?
Replies: 29
Views: 2507

Re: What is a Normal Spending Percentage of Take-Home Pay?

There is a website called everydollar.com helps you give every $1 an assignment
by jezo
Thu Jun 29, 2017 6:07 pm
Forum: Personal Consumer Issues
Topic: Cat teeth cleaning costs
Replies: 36
Views: 2954

Re: Cat teeth cleaning costs

My dog just needed a tooth extraction. In one zip code it was $1000. In another zip code it was just under $500 for everything.
Blood work was optional so I decided to forgo test.
by jezo
Wed Jun 21, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: advise on three fund portfolio
Replies: 5
Views: 480

Re: advise on three fund portfolio

Thank you for your responses.
I'm learning a lot from this forum :D :happy
by jezo
Wed Jun 21, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: advise on three fund portfolio
Replies: 5
Views: 480

advise on three fund portfolio

I received an alert that one of my funds ITOT, IShare Core Total US Stock Market, is a strong sell. I'm using Itot at fidelity b/c it replicates Vanguard Total Stock Market fund. My question is for those of you using three fund portfolio, do you ignore those sell alerts and leave it? I'm grateful fo...
by jezo
Mon Jun 19, 2017 10:49 am
Forum: Investing - Help with Personal Investments
Topic: selling before the 30 day period FSTA [Fidelity Consumer Staples Index]
Replies: 4
Views: 459

selling before the 30 day period FSTA [Fidelity Consumer Staples Index]

I currently have a few shares in FSTA (Fidellity consumer stapels index) since 6/2/2017. I have been doing some research and don't think I want to hold onto to this much longer. Do I take my losses or wait till I've had this for 30 days. I am considering buying FBGRX (Fidelity Blue Chip) or FUSEX (F...
by jezo
Tue Jun 13, 2017 3:11 pm
Forum: Personal Consumer Issues
Topic: Moving to Phoenix. Need advice.
Replies: 44
Views: 4388

Re: Moving to Phoenix. Need advice.

A realtor may be able to help you.
I know of a realtor who can help you check mls.
If you want to send me a message I can get you in touch with him.
He also has a condo for rent in the 85020 zipcode.
by jezo
Tue Jun 13, 2017 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: new investor getting diversified
Replies: 3
Views: 295

new investor getting diversified

My fidelity account Industrials 44% Consumer Cyclical -5% Technology -14% Financial Services -10% Energy -5% Individual Luv - Southwest Airlines FDIS -Fidelity MSCI Consumer Discretionary -.084% Rollover Ira FHLC - Fidelity MSCI Health Care Index - .084% FSEMX - Fidelity Extended Market Index- .1% F...
by jezo
Thu Jun 08, 2017 10:34 pm
Forum: Investing - Help with Personal Investments
Topic: Fcash
Replies: 2
Views: 411

Fcash

I sold a few shares of stock and wondering if I should keep it there or move to a regular savings account.