Search found 59 matches

by jmuc85
Sun Nov 15, 2015 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage Closing Costs - Please Help!
Replies: 14
Views: 1703

Re: Home Mortgage Closing Costs - Please Help!

Given that it is near the end of the year, that closing cost figure may well include a full year of real estate taxes. It could also include an estimate of a full year of home insurance costs. If they applied for a FHA mortgage, it may include the upfront fee. You would need to provide an itemized b...
by jmuc85
Sun Oct 18, 2015 6:57 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 3
Views: 630

Re: Portfolio Review

Thank you for the various recommendations. Due to there not being a low cost international fund in my 401k, could I not just locate all of my international within my rollover and/or roth ira? I see your point in keeping things consistent across each account, but I can't help but thing it may be adva...
by jmuc85
Sat Oct 17, 2015 8:40 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 3
Views: 630

Portfolio Review

Hello all, just wanted to get a quick checkup on my portfolio. I started a new job a few months ago and will be eligible for the 401k Jan 1. Emergency Funds: Yes, 4-5 months of current expenses. Debt: $6000 car loan at 1.9%. 18 months left Tax Filing: Single, no dependents 25% Fed Tax Bracket, no st...
by jmuc85
Fri Oct 09, 2015 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Merits of Getting a Construction Loan Over Cash
Replies: 8
Views: 610

Re: Merits of Getting a Construction Loan Over Cash

If you don't need the loan, then I would skip going that route. Most banks (not some of the very large banks) use construction disbursing companies or a title company with a construction department to handle and monitor the construction process. You can go to one of these companies directly for this...
by jmuc85
Wed Feb 25, 2015 10:35 am
Forum: Personal Finance (Not Investing)
Topic: What % of your gross income do you spend on mortgage/rent?
Replies: 155
Views: 11781

Re: What % of your gross income do you spend on mortgage/ren

18% for mortgage (includes taxes) and condo fees. 15% if including year end bonus.
by jmuc85
Wed Feb 25, 2015 10:23 am
Forum: Personal Finance (Not Investing)
Topic: How much did you have saved up for retirement at age 30?
Replies: 173
Views: 17305

Re: How much did you have saved up for retirement at age 30?

I will be 30 in August, and have $81k between my 401k and roth ira. With additional contributions between now and then, I will have $95k by the time I hit 30 if there was no movement in the stock market. I also have an additional $10k in taxable that is long term savings.
by jmuc85
Wed Feb 18, 2015 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Advice - First Time Homebuyer
Replies: 10
Views: 1010

Re: Mortgage Advice - First Time Homebuyer

Do you have any other debts? On a 600k house with 0% down, your mortgage plus an estimate of taxes and insurancea is already at 25% of your gross income, which is towards the high side. Look and see what percentage of your after tax income that will be. Banks and realtors always tell you the highest...
by jmuc85
Fri Feb 13, 2015 11:30 am
Forum: Personal Finance (Not Investing)
Topic: House appraisal for a refi
Replies: 10
Views: 1099

Re: House appraisal for a refi

As long as your house is in ok condition, it is not going to affect the appraised value. If you have substantial upgrades, you may get a bump in value. A dirty living room, unkept beds, etc. are not going to affect the value. With that said, there will be pictures of your house in the appraisal so y...
by jmuc85
Tue Jan 06, 2015 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mortgage only 6 months in??
Replies: 9
Views: 1771

Re: Refinance Mortgage only 6 months in??

If it is a no cost refi, then it would appear to make plenty of sense to go ahead and do it. My guess is that the bank is eager to do this because they likely would still make a premium when, and if, they sell the loan into the secondary market. Additionally, the particular loan officer calling you ...
by jmuc85
Thu Feb 13, 2014 5:41 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review-28 y/o
Replies: 4
Views: 626

Re: Portfolio Review-28 y/o

Oh yes perfect sense...the fund actually starts out at 17 bp, but then adds on 38bp for an admin maintenance charge and another 50bp for a sales & service fee which I presume is how the broker gets paid that sells this stuff. Not pretty.
by jmuc85
Thu Feb 13, 2014 2:53 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review-28 y/o
Replies: 4
Views: 626

Portfolio Review-28 y/o

Hello all, just wanted to get a quick checkup on my portfolio. I'm in an awful 401k, but it does have a 4% safe harbor match and an additional 2% or so discretionary employer contribution that has occurred each of the past 3 years. I'm currently working with management to try to either move our 401k...
by jmuc85
Tue Feb 19, 2013 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially in your late twenties?
Replies: 191
Views: 13667

Re: Where were you financially in your late twenties?

I'm 27.5ish...

$20k in Roth IRA
$20k in 401k
$10k cash
Around $25k equity in home, mortgage at 3%
Car loan of $15k-should be paid off within 15-18 months
2,000 stock options with private employer, potentially worth $200k pretax in 5 years
Income of $65k to 75k in 2013

That's me in a nutshell.
by jmuc85
Wed Feb 06, 2013 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Credit Scores - Interest Rate Question?
Replies: 7
Views: 462

Re: Credit Scores - Interest Rate Question?

It shouldn't affect your ability to obtain the mortgage, but it may affect the rate just a bit. Typically your lender will pull 3 reports from the 3 main bureaus and use the middle score for each person. The lower of his and her score usually needs to be 740 or above to qualify for the best rate pos...
by jmuc85
Tue Jan 29, 2013 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: prepay car vs mortgage
Replies: 23
Views: 1254

Re: prepay car vs mortgage

Thanks all, car loan was what I thought but I needed some validation.
by jmuc85
Tue Jan 29, 2013 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: prepay car vs mortgage
Replies: 23
Views: 1254

prepay car vs mortgage

Hello, I'm trying to decide whether to allocate a portion of my monthly savings towards my car loan or mortgage. Details: Emergency Funds: 4 months (recently reduced to make 2013 roth contribution + car down payment, building this up to 6 months before prepaying anything) Mortgage: $182,000 at 3%, v...
by jmuc85
Wed Dec 19, 2012 5:06 pm
Forum: Personal Consumer Issues
Topic: Notice of adverse action on a loan application
Replies: 8
Views: 2291

Re: Notice of adverse action on a loan application

An adverse action notice does not do anything to your credit; it is just a notice required to be sent out by the Federal government. Typically if the application is withdrawn, a notice will not be sent. But some Banks probably are extra safe and just send them out in these cases. Compliance regulato...
by jmuc85
Thu Aug 30, 2012 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing - Title Insurance
Replies: 10
Views: 1673

Re: Refinancing - Title Insurance

As a lender I can tell you that the estimates on the GFE are always on the high side because if the cost comes in a certain % higher than the estimate, the Bank must pay for it. Title insurance costs also vary state by state and county by county, sometimes substantially so. As a borrower you do have...
by jmuc85
Thu Mar 15, 2012 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: 26yo portfolio review
Replies: 3
Views: 484

Re: 26yo portfolio review

Did you choose this because the number lines up roughly with when you would like to retire? Or because you like its glide path I chose this because it was about the allocation that I desired. It gets my total international exposure to around 14% of portfolio and had about the amount of bonds I was ...
by jmuc85
Thu Mar 15, 2012 9:55 am
Forum: Investing - Help with Personal Investments
Topic: Young investor looking for improvements
Replies: 20
Views: 1354

Re: Young investor looking for improvements

$4600 sounds like an awful lot to be bringing to closing, unless a large chunk of that is going towards escrowed taxes, which seems unlikely for this time of year (assuming RE taxes are due at year end). $4600 may include points, so you're essentially buying down that interest rate. Also, if a simil...
by jmuc85
Thu Mar 15, 2012 8:41 am
Forum: Investing - Help with Personal Investments
Topic: 26yo portfolio review
Replies: 3
Views: 484

26yo portfolio review

Hello, could I get some feedback on my current portfolio? Emergency Funds: 5 months Debt: $185,000 mortgage at 3.75%, value of $240,000 Tax Filing: Single 25% Federal Tax / Approx. 5.6% MO (Effective Federal was 9.93%) Age: 26 Target AA: somewhere between 90/10 to 95/5 Current Portfolio: Approx. $25...
by jmuc85
Wed Feb 10, 2010 12:55 pm
Forum: Investing - Theory, News & General
Topic: Ag 30 and Under investors - Are you saving enough?
Replies: 71
Views: 7691

I max out my Roth, put 4% into my 401k (plus another 4% from the employer), plus another $250/month or so towards my emergency fund (gradually building up to 12 months). That would total up to savings of ~28% of gross income.
by jmuc85
Fri Feb 05, 2010 5:13 pm
Forum: Investing - Theory, News & General
Topic: Be greedy when others are fearful
Replies: 45
Views: 5020

You just let us know when it hits that floor you speak of. In the meantime I'll keep buying monthly as per usual.
by jmuc85
Fri Jan 29, 2010 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: looking to see where I stand financially?
Replies: 116
Views: 17125

age: 24
emergency funds: $3,000
roth ira: $5500
401k: $1600 (includes employer matching $)
taxable: $350 - pointless i know
income: 40k, started 1st post college job last march
side income: $150/month
rent: 825
debt: none
by jmuc85
Fri Jan 29, 2010 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Could you/do you live on $50,000 a year?
Replies: 356
Views: 69309

I live off of 40k pretax (and about 150/month side income), and am able to save about 750/month. I rent, have no debt, but still go out most weekends and have a good time.
by jmuc85
Sat Jan 23, 2010 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: saver's tax credit
Replies: 6
Views: 1762

saver's tax credit

I realize that the Savers Tax Credit does not apply to many people on the forum, but I'm hoping someone with some tax knowledge may be able to help. With my agi for 2009, I'm able to qualify for the 10% savers tax credit. Now I know the credit applies to 401k contributions made in calendar year 2009...
by jmuc85
Fri Jul 10, 2009 10:08 am
Forum: Investing - Help with Personal Investments
Topic: new 401k
Replies: 4
Views: 935

Laura, I've actually been meaning to sell that Citigroup stock. I also still have about 80 shares of Lehman stock, so I'll sell both of those and use those losses to offset income for this year. I'll probably add that money to my Emergency Fund ASAP. My 401k bond options are as follows: Short-Term F...
by jmuc85
Thu Jul 09, 2009 11:29 am
Forum: Investing - Help with Personal Investments
Topic: new 401k
Replies: 4
Views: 935

new 401k

Emergency funds = 2 months (just started working a couple of months ago) Debt: $5000 CC debt at 1.99% for 15 more months (paying it down by $450/month) Tax Filing Status: Single Tax Rate: 25% Federal 6% Missouri Age: 23 Desired Asset allocation: ~90/10 Intl allocation: 30% of stocks Current portfoli...
by jmuc85
Thu Jun 18, 2009 2:48 pm
Forum: Investing - Theory, News & General
Topic: Covered option call
Replies: 22
Views: 3208

If it sounds too good to be true it is. Do a search for covered call and you'll come across a payoff chart. If the underlying stock falls enough, you can and will lose money. The drop in the the stock value is offset slightly by the money you get from selling options. If the stock goes up, you'll ma...
by jmuc85
Mon Jun 15, 2009 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Low interest CC debt
Replies: 10
Views: 1813

I read the terms and conditons, and it should be fixed at 3.99. It's a promotional offer that lasts until 12/1/2010, at which time the rate will raise to whatever the then current APR is. Regardless, whether I put 300 or 400 or 450 towards it, it should be paid off within 15 months or so. I will be ...
by jmuc85
Mon Jun 15, 2009 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Low interest CC debt
Replies: 10
Views: 1813

Thanks Taylor. That was the order that I have been thinking, but not doing.
by jmuc85
Mon Jun 15, 2009 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: Low interest CC debt
Replies: 10
Views: 1813

Low interest CC debt

Here's the deal...I have about $5500 in credit card debt built up from college and the 6 months of unemployment following college. I'm a year out of college now and started a job a little over three months ago. The CC debt is at 0% now, and starting in August, will be locked in at 3.9% until Decembe...
by jmuc85
Fri May 22, 2009 10:45 am
Forum: Personal Finance (Not Investing)
Topic: references for job apps
Replies: 20
Views: 2452

I'm not a drug user, but the night before the drug test for my first real job I was attending an outdoor Santana concert. Not unexpectedly, pot smoke wafted towards me from every direction. Suddenly my brain registered a moment of sheer panic, and I pushed through the stoners and got out of there. ...
by jmuc85
Tue May 19, 2009 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Where should one be at 30?
Replies: 103
Views: 33715

Well, I'm 23, and essentially have a 0 net worth. Just started my first job out of college, have ~2500 in roth ira, ~450 taxable, and ~750 in emergency fund. I'm also in the process of paying off around $4000 in debt accumulated from college and a post-college Europe backpacking trip (worth every pe...
by jmuc85
Tue Feb 10, 2009 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: help with estimating take home pay
Replies: 3
Views: 1643

help with estimating take home pay

Hello all, I recently became society's newest employed member (1st job since college). I am trying to come up with a rough budget and am asking for help in estimating my take home pay. If I were to make ~$40,000, what do you believe would be the best estimate of my take home pay (I'm in Missouri)? I...
by jmuc85
Tue Dec 30, 2008 3:38 pm
Forum: Personal Consumer Issues
Topic: Back to Grad School?
Replies: 23
Views: 3551

Thanks a lot for the link to those videos. I'm going to take a look at a few of them. Computer science/engineering just seems like something that I would be good at. I majored in Finance because I enjoy the act of researching and then investing. I've realized though that I don't want that as a caree...
by jmuc85
Mon Dec 29, 2008 5:45 pm
Forum: Personal Consumer Issues
Topic: Back to Grad School?
Replies: 23
Views: 3551

Thanks for the comments. A couple things... How did I graduate without gaining programming skills? I'm not sure about your school, but we don't take any computer science classes besides MIS, and that was more theory and learning its applications rather than code. I would never go back to school just...
by jmuc85
Sun Dec 28, 2008 4:41 pm
Forum: Personal Consumer Issues
Topic: Back to Grad School?
Replies: 23
Views: 3551

Back to Grad School?

Hello all, I graduated from a respectable midwestern college this past May with a degree in Finance. I have not been able to find employment thus far. Many of the jobs I have looked at thus far in Finance are looking for people with some computer programming skills. I am considering enrolling in a u...
by jmuc85
Mon Oct 20, 2008 10:32 am
Forum: Personal Consumer Issues
Topic: JACK BOGLE'S NEW BOOK GIVEAWAY
Replies: 163
Views: 28647

I admire John Bogle because of his pioneering ideas that he used, and still uses to this day, to help the well-being of individual investors. He is a man that anyone would be lucky to have as a role model, not only for his intellect, but for his desire to help others fulfill their dreams.
by jmuc85
Sun Oct 19, 2008 8:43 pm
Forum: Investing - Theory, News & General
Topic: Can anyone help me with Excel's XIRR function?
Replies: 4
Views: 3537

Do your purposely have your last date as 11/19/08. The rest of your dates are '06.
by jmuc85
Sun Oct 19, 2008 8:31 pm
Forum: Personal Consumer Issues
Topic: What Book Are YOU Currently Reading? PART II
Replies: 1043
Views: 278000

The Informant...I'm 200 pages in, and thus far, it has been excellent, with many twists already. It's a nonfiction dealing with the huge scandal involving price fixing by Archer Daniels Midland back in the 90s. It's a very interesting read so far, and highly recommend it to nonfiction lovers and/or ...
by jmuc85
Thu Oct 09, 2008 8:45 pm
Forum: Investing - Theory, News & General
Topic: IT'S OFFICIAL - WE'RE 10,000 STRONG
Replies: 10
Views: 2421

Taylor et al...I recommended your book today at the DePaul University loop campus bookstore! Someone came up and started to look at one of those "Best Stocks for 200x/for the New Age/etc". Your book was right in front of where he was standing, and I told him to take a look at your book and...
by jmuc85
Mon Oct 06, 2008 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: my credit limit...
Replies: 0
Views: 598

my credit limit...

In times like this, where I would expect many companies to be reducing available credit to its customers, I am amazed by credit limits on my credit cards. I am a 23 year old, with 3 separate credit cards, which I opened merely to help increase my credit limit in order to help my credit score. I have...
by jmuc85
Wed Oct 01, 2008 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: cfa practice exams
Replies: 6
Views: 1451

Thanks for the words Tom. Unfortunately, or maybe fortunately, I won't be spending much more time on Economics. I scored a 100% on that section of the practice exam. Good, but I really like Econ and wish I could just keep studying it... I agree that your test taking strategy is of extreme importance...
by jmuc85
Wed Oct 01, 2008 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: cfa practice exams
Replies: 6
Views: 1451

The CFA Institute released their first, and only, free practice exam today. I took it today, approximately 9.5 weeks before the exam date, and scored a 50% (30/60). I don't think it's tooo awful, considering I still have several weeks of studying the CFA books to go. Just wanted to share my results,...
by jmuc85
Mon Sep 29, 2008 10:15 pm
Forum: Local Chapters and Bogleheads Community
Topic: CHIDIE (Chicago Diehards) Meeting 7/15
Replies: 5
Views: 3976

New to Chicago

As a new citizen of Chicago, I joined your Yahoo group today! I look forward to hearing about meetings and such.

Justin
by jmuc85
Sun Sep 28, 2008 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: cfa practice exams
Replies: 6
Views: 1451

Thanks...I have heard that Schweser is a pretty good company. I think I may purchase a pack of 3 online exams from them, at a price of $150...yikes. But, I think it is necessary so that I know where I stand and to further practice as exam time nears.
by jmuc85
Sun Sep 28, 2008 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: cfa practice exams
Replies: 6
Views: 1451

cfa practice exams

Hello all, I am currently in the middle of my CFA studies, and am wanting to take a practice exam to check on my progress. Does anybody have any recommendations for a guide to buy that has practice/mock exams? I just finished my undergraduate degree in Finance and Economics, and thus have already co...
by jmuc85
Thu Sep 11, 2008 3:36 pm
Forum: Personal Consumer Issues
Topic: Sky diving
Replies: 41
Views: 8529

I was fortunate enough to have the opportunity to skydive this summer in the Swiss Alps! Looking down from the plane we could see two beautiful lakes and obviously the mountains (we were in Interlaken). At the time, it was the most amazing experience I had ever had. The scenery surrounding the dive ...
by jmuc85
Thu Oct 04, 2007 8:38 pm
Forum: Investing - Help with Personal Investments
Topic: Funding Emergency fund vs Roth
Replies: 5
Views: 1678

Funding Emergency fund vs Roth

Hello all- I'm a 22 year old college student and will be graduating this upcoming May. I'm able to save a couple hundred dollars a month right now, and I have between 1000 and 1500 in savings accounts right now, in addition to my Roth with about 4000. Should I keep adding monthly savings to my savin...
by jmuc85
Tue Sep 04, 2007 6:10 pm
Forum: Investing - Help with Personal Investments
Topic: Three funds opinion
Replies: 13
Views: 3166

Just a quick note...you'll get more responses if you list the name of the fund, not just the ticker. Most of us haven't memorized all the tickers!

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