Search found 1686 matches

by jimb_fromATL
Sun Feb 26, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Student Debt
Replies: 26
Views: 2467

Re: Student Debt

I'm going also going to assume a legal career. I went to a T15 and graduated with 160K. Going the public service route with reasonable law school assistance. My advice is to avoid getting caught with your pants down with that much debt. Pay off the debt as fast as possible, screw the 401(k) to do i...
by jimb_fromATL
Sun Feb 26, 2017 2:30 pm
Forum: Investing - Theory, News & General
Topic: Compounding under the microscope.
Replies: 83
Views: 5572

Re: Compounding under the microscope.

(Some people would express this in terms of percentage changes +25%, +2.4%, -50%, +150%, -68.75% but there is really never any reason to talk in terms of percentages except to communicate with people who talk in that obsolescent language.) :confused I don't think percentages are obsolete. The formu...
by jimb_fromATL
Fri Feb 24, 2017 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: No Tax sheltering for NJ public employees!
Replies: 6
Views: 710

Re: No Tax sheltering for NJ public employees!

While I chose to retire early rather than be forced to move to NJ several decades ago, and as undesirable as it appeared to me then (and now) to live there -- I still find it hard to believe that they would not offer a tax-deferred 403(b) or similar plan for public employees like most states do. So ...
by jimb_fromATL
Wed Feb 22, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: HEL Interest
Replies: 5
Views: 208

Re: HEL Interest

But the interest is deductible on my HEL whereas the interest on the car loan would not be, correct? So I guess the essence of my question is what does it actually cost me to use my HEL to finance the purchase of the vehicle and deduct the interest? BF In your original post, you said you do not hav...
by jimb_fromATL
Tue Feb 21, 2017 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating tips for selling condo to tenant
Replies: 28
Views: 2315

Re: Negotiating tips for selling condo to tenant

... Disadvantage would be showing this in late August and with tenants in there and I'm not sure how flexible they will be with showings. I anticipate they won't be since they are not happy to be moving at all. If there's any doubt about the tenants being cooperative, you probably need to wait unti...
by jimb_fromATL
Mon Feb 20, 2017 3:03 pm
Forum: Investing - Theory, News & General
Topic: What does John Bogle think of TIPS?
Replies: 5
Views: 1204

Re: What does John Bogle think of TIPS?

from this article "...This time, we see that Jack is moving into TIPS (Treasury Inflation Protected Securities). "In fact, the only investment change I've made in the past few years is a move of about 6% of combined assets from Vanguard Intermediate-Term Bond Index (VBILX) to Vanguard Inf...
by jimb_fromATL
Mon Feb 20, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Real estate purchase
Replies: 4
Views: 548

A few thoughts

It's 23 acres and by no means do I need that much. The asking price for this undeveloped parcel of land is $325k. I would have to finance 80% of the purchase of the land. Have you shopped for a loan? Normal mortgage lenders are not in the business to speculate on land. So most will charge a higher ...
by jimb_fromATL
Sun Feb 19, 2017 9:52 pm
Forum: Investing - Theory, News & General
Topic: Primecap Admiral Fund VPMAX
Replies: 14
Views: 1193

Re: Primecap Admiral Fund VPMAX

My brother has held PRIMECAP for over 20 years and he's happy with it. Unfortunately he holds it in taxable. I've suggested several times to take the distributions to contribute to IRA and re-purchase PRIMECAP there but he's reluctant. Maybe he just doesn't want to call Vanguard to work around the ...
by jimb_fromATL
Sun Feb 19, 2017 8:07 pm
Forum: Investing - Theory, News & General
Topic: Primecap Admiral Fund VPMAX
Replies: 14
Views: 1193

Re: Primecap Admiral Fund VPMAX

My brother has held PRIMECAP for over 20 years and he's happy with it. Unfortunately he holds it in taxable. I've suggested several times to take the distributions to contribute to IRA and re-purchase PRIMECAP there but he's reluctant. Maybe he just doesn't want to call Vanguard to work around the ...
by jimb_fromATL
Sun Feb 19, 2017 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: capital gains on sale of home
Replies: 6
Views: 491

Re: capital gains on sale of home

The requirement to roll the profit into a replacement home went away in 1997. Now you get to exclude the first $500K of profit ($250K for single) from capital gains tax if you've lived in the home for two out of the last five years before you sell it. As someone else has mentioned, don't overlook th...
by jimb_fromATL
Sun Feb 19, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Student Debt
Replies: 26
Views: 2467

Re: Student Debt

Similar position (less SL debt) here and had some conflicting information in a different thread. Roughly $42k SL debt at 5.75%. I have the option now with a new job to max the 401k and still hit the debt hard. I've decided to max the 401k for now, and reassess in a few months. The SL's weigh heavy,...
by jimb_fromATL
Sat Feb 18, 2017 11:37 am
Forum: Investing - Help with Personal Investments
Topic: How important is 401k/403b's greater protection against creditors?
Replies: 15
Views: 903

Re: How important is 401k/403b's greater protection against creditors?

cheese_breath wrote:Not important at all if you don't default on your bills.


... And provided you also never have any financial setbacks such as accident, injury, illness, lawsuits or judgments or other claims against your assets that you cannot easily afford to pay out of petty cash.

jimb
by jimb_fromATL
Sat Feb 18, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: 401K loan vs HELOC
Replies: 1
Views: 158

Re: 401K loan vs HELOC

How much is the loan balance? What rate is he paying on the 401(k) loan? How much is the 401(k) account earning? How is his crystal ball working to predict whether his 401(k) will earn more or less than the rate he's paying back, or that he will be earning less in the 401(k) than the rate he would p...
by jimb_fromATL
Sat Feb 18, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Student Debt
Replies: 26
Views: 2467

Re: Student Debt

New here, I am a student with around $210k in student loans at around 6% interest. After graduating in a few months, I will be making approximately $180-200k starting salary, which has a high probability of increasing annually by >10k+ (assuming I stay in the same line of work). I will have access ...
by jimb_fromATL
Fri Feb 17, 2017 12:30 pm
Forum: Forum Issues and Administration
Topic: Please Try Out Test Posts Here
Replies: 150
Views: 146098

testing graph formats and links

Why REITs are not appropriate for retirement http://i9.photobucket.com/albums/a67/jb0544/bh0217%200217%20%20Compare%20REITs%20to%20other%20funds%20in%20retirement%20--%20withdrawals_zpskjgacgy6.png larger chart from sheet 4 png http://i9.photobucket.com/albums/a67/jb0544/bh0217%200217%20largert%20ch...
by jimb_fromATL
Thu Feb 16, 2017 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Payoff vs. ANY Investing
Replies: 29
Views: 1248

Re: Student Loan Payoff vs. ANY Investing

So ... about that state tax, and total for the matching payments? jimb In your calculations, can you please include the fact that they would be able to claim the full deduction of student loan interest as an above-the-line deduction, which it seems like they are missing out on now due to their inco...
by jimb_fromATL
Thu Feb 16, 2017 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Payoff vs. ANY Investing
Replies: 29
Views: 1248

Re: Student Loan Payoff vs. ANY Investing

thanks for the reply, i had seen your responses on some posts before and was hoping you would chime in. Here is more detail of my loans, I am in the 25% tax bracket. I'd be curious to know the impact of my current strategy, which doesn't appear to be the best from what I'm hearing... Sorry to say, ...
by jimb_fromATL
Thu Feb 16, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Payoff vs. ANY Investing
Replies: 29
Views: 1248

Re: Student Loan Payoff vs. ANY Investing

First time poster here. My wife and i have been following Dave Ramsey's baby steps for 1.5 years now and have aggressively paid down her student loans from $156K to $73k (as of this month). The interest rate is 7.5% (Doctorate Program). Yikes. In that time, we have stopped all retirement investing ...
by jimb_fromATL
Wed Feb 15, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Mailed Speeding Ticket via Auto System - Not Driver
Replies: 57
Views: 1699

Re: Mailed Speeding Ticket via Auto System - Not Driver

For some reason the speed/red light cameras have intrigued me on enforceability. From 1. D.C.Code Title 50, Chapter 22, Subchapter V:  Automated Traffic Enforcement Id. Section 50-2209.02 describes liability, limitation of liability, and due process rights afforded to those vehicle owners who have ...
by jimb_fromATL
Wed Feb 15, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Mailed Speeding Ticket via Auto System - Not Driver
Replies: 57
Views: 1699

Re: Mailed Speeding Ticket via Auto System - Not Driver

Seems pretty straight forward. AFAIK If somebody is driving your car with your permission, you can be held responsible, same as if they're in an accident. I doubt that it's worth the time and expense of trying to dispute the law that seems to be pretty consistent about that in all the states I've ev...
by jimb_fromATL
Sun Feb 12, 2017 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: paying points for refinancing a mortgage and tax implications
Replies: 5
Views: 437

Re: paying points for refinancing a mortgage and tax implications

I received the tax statement from my bank regarding the mortgage on my house for 2016. I refinanced my existing mortgage in 2016 to lock in a lower rate. I paid points to get the lowest rate possible. I was surprised to see that in the tax statement the entry for points was 0. I asked the bank and ...
by jimb_fromATL
Fri Feb 10, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Payment Method for Private Used Car Sale
Replies: 43
Views: 2388

Re: Payment Method for Private Used Car Sale

A check drawn on an account (either individual or business) is NOT a cashiers check. So, a validly issued cashiers check cannot be (legitimately) stopped or refused for insufficient funds. ...Mostly true, unless the bank has a legitimate reason to believe that there's fraud going on. However, more ...
by jimb_fromATL
Fri Feb 10, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Payment Method for Private Used Car Sale
Replies: 43
Views: 2388

Re: Payment Method for Private Used Car Sale

HERE is a recent discussion about the pros and cons of selling a car yourself ... which IMO is worth taking the time to read before you sell yours. As I said in my post there, cars have been a hobby with me, and I've bought and sold several over several decades and have helped others in buying and ...
by jimb_fromATL
Wed Feb 08, 2017 11:28 am
Forum: Investing - Theory, News & General
Topic: Do you think Ric Edelman is correct, never pay down mortgage
Replies: 407
Views: 62244

Re: Do you think Ric Edelman is correct, never pay down mortgage

Let's assume you owed $100k. You invested $100k on Jan 1, 2009 in an S&P Index fund, and reinvested the dividends. Today, you'd have $169k (before taxes, after inflation) True. And if we could Marty McFly back to 2009 it would be the best thing to do. But looking forward - if someone invests $1...
by jimb_fromATL
Wed Feb 08, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 2358

Re: Please help with real estate question

Also if the OP income goes to $500k+ isn't the mortgage deduction phased out even for primary homes? According to the IRS "The limitation for itemized deductions to be claimed on tax year 2017 returns of individuals begins with incomes of $287,650 or more ($313,800 for married couples filing j...
by jimb_fromATL
Tue Feb 07, 2017 10:02 pm
Forum: Investing - Theory, News & General
Topic: Do you think Ric Edelman is correct, never pay down mortgage
Replies: 407
Views: 62244

Re: Do you think Ric Edelman is correct, never pay down mortgage

during the radio show Ric Edelman said people should always get a 30-year mortgage and never pay down the mortgage. He did not say the reason, but said if you want to know get his book or attend his seminar. I guess he believes using the money for paying down mortgage to invest in stock market will...
by jimb_fromATL
Tue Feb 07, 2017 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 2358

Re: Please help with real estate question

Maybe add that he may not even qualify for the mortgage interest deduction based on the requirement that it be a primary home or second home? You do get to deduct mortgage interest and property taxes for a second home, provided you are the one out of every three or four tax payers who exceeds the s...
by jimb_fromATL
Tue Feb 07, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 2358

Re: Please help with real estate question

I think under section d 6 of the Garn St. Germain Act the OP could take over his parents' mortgage https://www.law.cornell.edu/uscode/text/12/1701j-3 But I think while noble, it's a terrible idea. Mixing money and family hardly ever ends well. Even though you make good money having that $500k loan ...
by jimb_fromATL
Tue Feb 07, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with real estate question
Replies: 40
Views: 2358

Re: Please help with real estate question

This is probably a really bad idea. You mention that it will not cause problems with gift tax or estate tax later, but chances are it won't work anyway. Here are some sort of random thoughts of problems you need to consider: One of the problems is that if they "gift" it to you, then your c...
by jimb_fromATL
Mon Feb 06, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I sign on as a co-borrower on my wife's car loan?
Replies: 18
Views: 1598

Re: Should I sign on as a co-borrower on my wife's car loan?

My wife and I are going to be purchasing a Toyota RAV-4 in April and I wondering if it would be to my benefit to sign on to the loan with her. We're just now slowly getting into credit card churning and I'm wondering if the long term bump to my credit score could be of benefit to me to ensure that ...
by jimb_fromATL
Sun Feb 05, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate in the name of the parents or adult children
Replies: 15
Views: 1072

Re: Real Estate in the name of the parents or adult children

Sorry if I was confusing and I do not have any experience in this (real estate and related taxes, passing on items in your estate, etc) besides owning my own house. I (nor my sister) want to own their houses in terms of eventually using them. I suppose at some point if we owned them we would decide...
by jimb_fromATL
Sun Feb 05, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Craigslist vehicle sale worth the risk?
Replies: 30
Views: 2246

Re: Craigslist vehicle sale worth the risk?

Question for those selling vehicles on Craigslist that requires buyers to come to your house. I've sold vehicles on Craigslist before that were <$10k without issue. However, would you sell a more expensive car on Craigslist? I am not as worried about getting scammed because that is easily avoidable...
by jimb_fromATL
Sat Feb 04, 2017 4:03 pm
Forum: Personal Consumer Issues
Topic: Microsoft requires cell number
Replies: 36
Views: 2356

Re: Microsoft requires cell number

Not having a cell phone, I have not been able to get past this step. I tried our land line, number, but they apparently do not support voice response. All Microsoft support (phone, email, chat) is apparently accessed through the Microsoft account. If your time is worth anything to you, and unless y...
by jimb_fromATL
Fri Feb 03, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Deduction SEEMS Too good to be true - What am I MISSING!?
Replies: 37
Views: 4357

Re: Mortgage Deduction SEEMS Too good to be true - What am I MISSING!?

... my total mortgage with tax and insurance will be about $3,600... So after the 44k in deductions it would more than pay for the $600 increase monthly, while also building equity rather than throwing it out. It looks like itemizing would be worth around 900 per month so $2,700 monthly for housing...
by jimb_fromATL
Fri Feb 03, 2017 12:31 pm
Forum: Investing - Theory, News & General
Topic: Calculating returns
Replies: 5
Views: 409

Re: Calculating returns

XIRR is the way to do it. You need to know the annualized return to be able to compare it with other investments, and the XIRR does the tedious iterative math to solve for the annual RATE for you. In a spreadhsheet with data shown below with the contributions and end result in cells B3:B5 and dates ...
by jimb_fromATL
Fri Feb 03, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: GF has long commute, should we buy a house to avoid long commute?
Replies: 62
Views: 4631

Re: GF has long commute, should we buy a house to avoid long commute?

A one hour commute each way is crazy. It is? Thanks.... It's a matter of where you live and what you're used to. Before I retired a second time 20+ years ago ... which my wife still refers to as "when you had a job"... I had to allow an hour to commute 12 miles each way in Atlanta traffic...
by jimb_fromATL
Fri Feb 03, 2017 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2270

Re: Purchasing 4 Family House for Rental Income

I guess somebody has to say it, but getting tied up in a 20 year financial deal with three other guys is absolutely insane. The issue has nothing to do with the financial merits of owning and renting that particular property. Appreciate it, were all young guys in our late 20s with defined benefit p...
by jimb_fromATL
Wed Feb 01, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Earning $36/hr for by driving for errands. Worth it?
Replies: 20
Views: 3641

Re: Earning $36/hr for by driving for errands. Worth it?

Do you have a prius? Then maybe. Otherwise, no. You're putting about $20 wear/tear/depreciation/tires/gas/insurance/repairs/maintenance per trip. You could deduct the cost per mile, but that's mainly a tax savings, and the cost per mile of your vehicle will need to be taken into account. What do yo...
by jimb_fromATL
Mon Jan 30, 2017 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy for Purchasing a House
Replies: 21
Views: 2367

Re: Strategy for Purchasing a House

I am considering purchasing a house in the Seattle area. Since I have been following the Boglehead philosophy, purchasing a house is something that is not my top priority but I decided to go forward anyways primarily because it is very important to my spouse. With the (potential) housing bubble tha...
by jimb_fromATL
Mon Jan 30, 2017 8:42 pm
Forum: Investing - Theory, News & General
Topic: Roth 401k question
Replies: 4
Views: 469

Re: Roth 401k question

Hello, Dumb question here, but I'm having trouble getting a firm answer on this I know the people on this board will certainly know it. Individual 401k (not roth option), the money goes in pre-tax, and when you withdraw money from this account, lets say in your 60's...Are you paying tax on just the...
by jimb_fromATL
Mon Jan 30, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: FHA Mortgage - Buy down interest rate?
Replies: 10
Views: 656

Re: FHA Mortgage - Buy down interest rate?

FHA allows her to get a more expensive house than she could otherwise afford if she can't come up with the 20% downpayment. Is that a wise financial move? Only she can say. But she should explore other options with her credit union. Often times, they can offer comparable type loans with less costly...
by jimb_fromATL
Sun Jan 29, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Tax on selling your house
Replies: 11
Views: 1003

Re: Capital Gains Tax on selling your house

So that is what I thought. Unless my house sold for $210k (a cost basis I can prove) + $250k (the single cap gain exemption) with no capital improvements (which I doubt I would need or want to do) I am under the cap gains exemption (if that is the correct word). RIght. Plus any costs of the sale, l...
by jimb_fromATL
Sun Jan 29, 2017 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2936

Re: Parents as dependents on tax return

jebmke wrote: I could be wrong. According to my wife, I often am.


Brings up the age-old question ... which I've often pondered over more than 4 decades of marriage.

If a man is all alone in a forest and makes a statement, but there is no woman around to hear it, is he still wrong? :?

jimb
by jimb_fromATL
Sun Jan 29, 2017 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Tax on selling your house
Replies: 11
Views: 1003

Re: Capital Gains Tax on selling your house

OK so let's say I sell the house for $250k which is a reasonable price, perhaps a bit low. Looks like your cost basis for improvements doesn't matter, as long as you can prove what you originally paid for it. It is a common misunderstanding, but any taxable gain is on the profit , not the sales pri...
by jimb_fromATL
Sun Jan 29, 2017 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2936

Re: Parents as dependents on tax return

I did, but it provides general guidelines with respect to income. I know that they qualified this year as income was less than $4050/yr, but it still did not provide me with the answer to where I would put any income they have made, and that was my biggest confusion. You don't put their income on y...
by jimb_fromATL
Sun Jan 29, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Investment property to help my family?
Replies: 23
Views: 1687

Re: Investment property to help my family?

... Another problem is that most of the rehabilitation loans are for the borrower's own home. If you misrepresent that it is going to be your own residence in order to qualify for the loan, but rent it out -- it's mortgage fraud. ... He will have to be able to qualify for and get a mortgage of his ...
by jimb_fromATL
Sat Jan 28, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage to avoid insurance premium?
Replies: 18
Views: 759

Re: Paying off mortgage to avoid insurance premium?

These are all great points and I appreciate the responses. Sounds like what I am considering is certainly out of the norm (as I figured it would be). And yes, I am a cheap-ass, my wife reminds me of this often :) Oh, you're married. All the more reason to keep the insurance. Then if you are ever su...
by jimb_fromATL
Sat Jan 28, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage to avoid insurance premium?
Replies: 18
Views: 759

Re: Paying off mortgage to avoid insurance premium?

Yeah I guess you could say I self insure...I dropped my umbrella a few years ago as even though the premium was only a few hundred a year, I didn't see it being worth it. I'm in my early 30s and close to being FI though I plan to keep working as I enjoy my work, so I figure if lightning strikes I c...
by jimb_fromATL
Sat Jan 28, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Investment property to help my family?
Replies: 23
Views: 1687

Re: Investment property to help my family?

1)What is the nature of this credit problem? I am not entirely sure, but I believe it has something to do with missing payments on a student loan. He went to school for a week, then dropped out, but had the loans for the whole semester. This must of been 10 years ago now. He has worked steadily sin...
by jimb_fromATL
Sat Jan 28, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Investment property to help my family?
Replies: 23
Views: 1687

Re: Investment property to help my family?

My BIL is having kid number 5, and needs to move for work and space. He can't qualify for a mortgage because of his credit, but renting a home where he is moving to costs significantly more than a mortgage on the same home (Very LCOL area). He found a home that is bank owned and needs a little work...

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