Search found 111 matches

by kamikazekid
Mon Aug 01, 2022 7:32 pm
Forum: Personal Investments
Topic: Who had a low interest mortgage and yet made a substantial payment in the last 18 months
Replies: 17
Views: 1956

Re: Who had a low interest mortgage and yet made a substantial payment in the last 18 months

I do not have any other high interest rate debt. I get your point about buying an equity fund and using the bonds in my 401k to balance out my asset allocation - thank you!
by kamikazekid
Mon Aug 01, 2022 7:20 pm
Forum: Personal Investments
Topic: Who had a low interest mortgage and yet made a substantial payment in the last 18 months
Replies: 17
Views: 1956

Who had a low interest mortgage and yet made a substantial payment in the last 18 months

My Situation: Have too much cash to the tune of ~350k. Currently sitting in a no penalty CD at Ally and the rest in a Bank of America Savings account. Primarily the cash is from a home sale in the fall of 2022. Originally I wanted to pay down a substantial chunk of my mortgage but I keep reading that that is a rookie move esp. for the low interest rate I was able to avail of (2.875%). 401k, IRA are maxed out. I am in paralysis by analysis mode and can't figure out what's the best route for me to take Option 1 1. Boost kids 529 k (2 kids ages 1 and 7) 2. Boost my brokerage account 3. Pay a huge portion of the mortgage off (say 200k or more) and get some satisfaction in the process. Have folks exercised option 3 recently and can you share you...
by kamikazekid
Sat Apr 16, 2022 10:15 am
Forum: Personal Investments
Topic: Switched jobs - finding equivalent options at Fidelity
Replies: 8
Views: 483

Re: Switched jobs - finding equivalent options at Fidelity

Thank you for your responses. And thank you for letting me know a way to confirm they are the same - the ETF equivalence is a neat little trick that I wasnt aware of !
by kamikazekid
Sat Apr 16, 2022 10:14 am
Forum: Personal Investments
Topic: Switched jobs - finding equivalent options at Fidelity
Replies: 8
Views: 483

Re: Switched jobs - finding equivalent options at Fidelity

Thank you for your responses. And thank you for letting me know a way to confirm they are the same - the ETF equivalence is a neat little trick that I wasnt aware of !
by kamikazekid
Sat Apr 16, 2022 9:59 am
Forum: Personal Investments
Topic: Switched jobs - finding equivalent options at Fidelity
Replies: 8
Views: 483

Switched jobs - finding equivalent options at Fidelity

I recently switched jobs for the first time in my professional life and transferred the 401k from Vanguard to Fidelity. My retirement 401k assets are currently in the Vanguard Target 2045 fund. I am trying to find equivalent funds in my new plan and I just need help confirming that the International fund option I have at FIdelity is similar to the one at VG
  • Vanguard Institutional 500 Index Trust , VIIIX 0.015 - 65%
    FIdelity option: VIIIX option available.
  • Vanguard Total International Stock Index Fund Institutional Plus Shares VTPSX 0.07 - 17%
    Fidelity option: DOnt have VTPSX. I do have VTSNX and MIEIX
  • Vanguard Institutional Total Bond Market Index Trust VBTIX 0.03 - 18%
    Fidelity option: VBTIX available.
by kamikazekid
Fri Dec 03, 2021 8:13 am
Forum: Personal Consumer Issues
Topic: Instant Coffee?
Replies: 107
Views: 9982

Re: Instant Coffee?

sport wrote: Tue May 14, 2019 4:52 pm I am not a coffee drinker, but occasionally I want to serve it to others. Is there such a thing as instant coffee that is any good? All I have heard are negative comments.
Go to the nearest Indian store. Get a brand called Bru. Works great with milk or with milk/water mix. Just add a bit of sugar and heat and froth it up with a frother ...its my sat/sun go to ...Bru has a bit of chicory in it and I love it !
by kamikazekid
Wed Dec 01, 2021 8:32 am
Forum: Personal Consumer Issues
Topic: Where can I get Lexus SUV Touch Up Paint?
Replies: 10
Views: 773

Re: Where can I get Lexus SUV Touch Up Paint?

just had that issue for myself. Go to dealer, give them the VIN # and they should be able to procure it for you. It will be a small tube. The one for me cost around 30 bucks I believe
by kamikazekid
Sun Nov 07, 2021 5:39 am
Forum: Personal Investments
Topic: How to invest home sale equity proceeds
Replies: 5
Views: 547

How to invest home sale equity proceeds

Dear Bogleheads Background : Sold old home have check in hand for $290k from home equity proceeds. Purchased new home for 815k with a loan amount of 650k. Interest rate on 30 year mortgage is 2.875% Question : What is the best use of funds acquired from home equity proceeds ? Alternatives 1. Make payment towards principal. I'd look to pay a significant chunk say 250k. Then recast the mortgage and bring the amount due to somewhere in the 400k range. Our combined income is 250k + 2. I have 2 kids ages 1 and 7. Could use this money to save for their college fund. 3. Roll into into an index funds and carry on with the 3 fund strategy. My mind veers towards option 1. Eager to hear your thoughts so that I can make the best decision for our family.
by kamikazekid
Mon Sep 27, 2021 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Boston metro?
Replies: 28
Views: 3850

Re: Buying a house in Boston metro?

Lots of great places to live. Where will you be commuting and how? If you are taking the train options can get somewhat limited since the T needs to be accessible with a short walk/drive. If driving, traffic on the mass pike is a concern.

Think also about how long you want to stay in the new home. If you arent intending to start a family (assuming you want to at some point) straight away you can get away with a 2bed/2 bath. If you do intend to start a family, you will outgrow this config. very soon.

Metrowest boston is a great place to live. Natick, Ashland, Holliston, Hopkinton, Westboro, Southboro ...tons of options but really depends on your goals with the purchase and your budget. Housing is expensive here :)
by kamikazekid
Tue Sep 07, 2021 7:02 am
Forum: Non-US Investing
Topic: Conversation with FInancial advisor on behalf of my FIL
Replies: 16
Views: 4496

Re: Conversation with FInancial advisor on behalf of my FIL

Before this thread gets too deep, I wanted to say that even for an 82 yo, an asset allocation of 100% equities might be fine. That's because maybe the 82 yo has guaranteed income for more than their living expenses and free healthcare. In essence, they would never touch any of their 100% equity portfolio. I'm not saying that is appropriate here, but I wanted to show that age may not matter that much when selecting an asset allocation. Thank you Livesoft for this perspective. It is correct that in NZ public health is free. Their home is paid for. Apart from day to day living expenses he has no major expenses to speak of. What I am gathering from the responses is that understanding his goals/vision for this money is more important after whic...
by kamikazekid
Mon Sep 06, 2021 9:31 am
Forum: Non-US Investing
Topic: Conversation with FInancial advisor on behalf of my FIL
Replies: 16
Views: 4496

Re: Conversation with FInancial advisor on behalf of my FIL

An appropriate asset allocation depends on the objectives of the investor. What are the goals for this portfolio? That said things that fall generally in the 30/70-40/60 range for equities vs fixed income would typically be reasonable, absent special purposes for the money. An elderly investor can, however, wish to invest mainly in equities to grow the holding for heirs, as an example of a different purpose. A person withdrawing at a significant rate for spending needs a reasonable allocation to equities as the possibility of running out of money too soon skyrockets with too little in stocks. This is not an issue at lower withdrawal rates and shorter times to end of life. I am not familiar with NZ investing and can't comment on the specifi...
by kamikazekid
Mon Sep 06, 2021 8:43 am
Forum: Non-US Investing
Topic: Conversation with FInancial advisor on behalf of my FIL
Replies: 16
Views: 4496

Conversation with FInancial advisor on behalf of my FIL

Dear bogleheads Situation: MIL passed away recently. FIL has no idea of investments (he is 82 yo and in good health). They are both citizens of NZ and going fwd I expect my FIL to spend time between NZ and US /(where we live). My wife has now been thrown into the middle of streamlining their investments. Neither my wife nor my FIL have much knowledge or awareness regarding investing. We obtained their investment portfolio from the financial advisor. Questions for this group 1. What is the appropriate and simple asset allocation for a 80 yo? 2. What are key questions I should be asking the advisor? I am going to ask about ERs for each fund, whether he can invest them in index funds and whether we can reduce the number of funds. I feel that t...
by kamikazekid
Sat Sep 04, 2021 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Managing documents home and personal
Replies: 23
Views: 2665

Managing documents home and personal

With the birth of our second child, a first truly professional job for DW and a purchase of a full size home imminent I am beginning to wonder how to best manage the important paper documents coming my way. What do you all do to manage the insurance bills, water, sewer bills and other medical bills coming your way? Do you maintain seperate files for each? DIgitize and throw away paper? Looking for ideas to get organized. I like having paper copies and at a minimum I think I need separate files for 1. My medical 2. DW medical 3. Kids Medical 4. Home Insurance 5. Home repair bills 6. HSA FSA bills - esp when claiming reimbursement Any recommendations on favorite files / storage systems from Staples/Amazon etc that you might have liked? Thanks!
by kamikazekid
Sun May 30, 2021 8:52 am
Forum: Personal Investments
Topic: College savings for Kid 1 and Kid 2
Replies: 18
Views: 2354

Re: College savings for Kid 1 and Kid 2

Thank you all for the advice. Very insightful and actionable.
by kamikazekid
Sun May 30, 2021 8:50 am
Forum: Personal Investments
Topic: College savings for Kid 1 and Kid 2
Replies: 18
Views: 2354

Re: College savings for Kid 1 and Kid 2

KlangFool wrote: Sun May 23, 2021 3:36 pm OP,

Do you max up all your other tax-advantaged accounts?

KlangFool
Yes, I have maxed 401k, HSA and IRA.
by kamikazekid
Sun May 23, 2021 7:17 am
Forum: Personal Investments
Topic: College savings for Kid 1 and Kid 2
Replies: 18
Views: 2354

College savings for Kid 1 and Kid 2

Trying to figure out if I am on the right track wrt college savings for kid 1 and kid 2. We live in Massachusetts. I wanted flexibility so I didn't start a 529 for kid 1. My plan is to just buy index funds and adjust allocation as time progresses. My assets held in a VG Brokerage account. I have 2 questions Question 1 - Should I open another brokerage account for Kid 2 (<1 yo?). That is keep both college savings accounts completely separate? Cons: I lose out on the power of compounding if I do that and I add more complexity (more accounts to manage) Pros: Due to age difference between the 2 kids, their asset allocations at any point of time are vastly different. So makes sense to have separate accounts Question 2 - I plan to implement the f...
by kamikazekid
Sun May 23, 2021 6:46 am
Forum: Personal Consumer Issues
Topic: Recommended Amazon Prime Movies (& Series)
Replies: 28
Views: 3306

Re: Recommended Amazon Prime Movies

FrugalInvestor wrote: Sat May 22, 2021 10:57 pm My wife and I recently dropped Youtube TV due to them dropping MLB games. The remaining streaming service we have is Amazon Prime Video. We don't watch a lot of movies but like to have a few in reserve so when we just want to spend a relaxing evening we have something to watch together.

We like dramas, history and some documentaries but typically stay stay away from violence (it's not relaxing). Recommendations?
Not a movie but if you like dramas you will like The Americans and The Billions. The later is especially compelling look into the shenanigans of hedge fund billionares.
by kamikazekid
Sat May 15, 2021 8:47 am
Forum: Personal Consumer Issues
Topic: Visiting Boston w/ young family
Replies: 35
Views: 4043

Re: Visiting Boston w/ young family

Lots of useful and kid friendly advice here. A few other thoughts below
1. Castle Island - worth a visit. Kids can bike or you can just move around in a stroller.
2. Arnold arboretum is an absolute gem as someone already recommended above.
3. Newburyport is a nice 1/2 to full day trip. Probably an hour tops out of Boston
SOmeone mentioned Wellesley college - that is CLOSED for visitors from what I am being told due to Covid restrictions.
Check out Elm bank reservation too...lovely place !

I think you will pay a premium for staying in Boston. Try brookline or Newton.

How are you on the food scene ? That's a whole different thread I suppose ! :sharebeer
Enjoy Boston - its a fun place !
by kamikazekid
Sat Feb 27, 2021 7:16 am
Forum: Personal Consumer Issues
Topic: A gift for DW
Replies: 58
Views: 5299

Re: A gift for DW

All - thank you for offering so many different perspectives. Reading through definitely gave me a few ideas....
This is what I am settling on
1. 3 mos of paid maid service biweekly for home cleaning
2. Customized gift for her - probably a model of a something she works with in her lab (she works with fish!)
3. Send her and her best friend to an overnight stay without kids of course to a nice hotel in downtown Boston
4. Dinner
5. Surprise zoom party with her friends from all over the world and those in our neighborhood !
by kamikazekid
Sat Feb 27, 2021 7:11 am
Forum: Personal Consumer Issues
Topic: A gift for DW
Replies: 58
Views: 5299

Re: A gift for DW

bikechuck wrote: Fri Feb 26, 2021 4:28 pm I have no gift suggestions but I would like to commend you on being so caring about your Divorced Wife.
Woke up on the wrong side of the bed eh? Maybe sleep in for a day to let the sarcasm pass !
by kamikazekid
Sat Feb 27, 2021 7:05 am
Forum: Personal Consumer Issues
Topic: A gift for DW
Replies: 58
Views: 5299

Re: A gift for DW

PiperCub wrote: Wed Feb 24, 2021 7:35 pm When I was working full time, finishing up my Master's, and we had 2 kids under 2, my husband bought us 3 months of weekly maid service for our anniversary. He was regularly putting in 12 hour days in his business, so he was unable to help out as much as he wanted, and even though we couldn't really afford it at the time, those were the best 3 months of my life!
Great call. We've avoided the recurring maid service thus far primarily because "Hey we can clean this on our own, why are we wasting money on this kinda stuff". But the value they provide is undeniable. A clean home is worth it !!
by kamikazekid
Sat Feb 27, 2021 7:02 am
Forum: Personal Consumer Issues
Topic: A gift for DW
Replies: 58
Views: 5299

Re: A gift for DW

If at all affordable, anything that can help with getting good sleep. Whether that is just reducing the housework load on her, cleaning service, laundry service, temporary or long term live in help. Overnight help to attend to the newborn while wife sleeps through. Much more genuinely valuable than an expensive but ultimately useless gift. Big ticket: Jointly resolve that her career will drive where you end up living. Depending on what she does, a good post doc may require a move and a less good post doc could bury her career before it starts. Great suggestion and in fact we are doing just that. We are in Boston and we hope she will ultimately land up in a pharma company as a scientist in one of the big companies in Kendall Square. We had ...
by kamikazekid
Wed Feb 24, 2021 12:16 pm
Forum: Personal Consumer Issues
Topic: A gift for DW
Replies: 58
Views: 5299

A gift for DW

DW is about to finish her PhD in life sciences after 8 years of hard work. Want to get her something special to celebrate but she is so low maintenance that she literally had no needs or no luxuries she craves - doesnt care for watches, shoes, cars nothing. Any ideas on what I can get her ? We are expecting baby #2 in a month or so as well so reluctant for activities that would involve indoors/crowds.
Me - I am going to buy a Johnny Walker Blue and will have a sip to celebrate the landmark!
by kamikazekid
Fri Jan 22, 2021 9:21 am
Forum: Personal Finance (Not Investing)
Topic: What defines being successful?
Replies: 50
Views: 3629

Re: What defines being successful?

I think it varies. What gives you the deepest satisfaction? Usually it will be a confluence of personal, professional and some element of religious/spritual. When you have these elements in some sort of a balance, you will feel at ease. Making it is a journey and not a destination. I work in the Medical Device industry. I find my work satisfying and pays well. I am married to a level headed ambitious spouse who complements me perfectly and us each other. We are our daughter plus another kid due soon and trying to inculcate in them the best of eastern and western values (I am an immigrant). I work out regularly, play sports regularly and have a decent circle of friends and family that I call on for help. We are all in good health , have a jo...
by kamikazekid
Tue Jan 05, 2021 12:11 pm
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Re: Used car buying (quick question)

Its a good point Watty. The thing is we are also in the market for a new home and feel like the savings can go towards eventually furnishing the new home. Its not a compelling delta but I guess I am trying to have the best of both worlds.
Alternatively decline the warranty and live with any repairs. I do have a very trusted local mechanic who I know for 10+ years and he drove an Oddy for 10+ years and knows the car inside out. So there is a safety factor there if I decline the warranty.

I will inquire about their Honda extended warranty packages. They didnt seem to offer any to my knowledge.
by kamikazekid
Tue Jan 05, 2021 11:39 am
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Re: Used car buying (quick question)

Its not as bad a deal as one might think. I know there is an aversion on this group for additional warranties but looking at the numbers
1380 for 2 years
Covers oil changes = ~$ 400 (6 to 7 changes at 60 per change)
So all in all paying an extra $1000 for any incidentals

Since the electronics are often expensive to repair and CR has pointed that out as a low reliability item on the Oddy, I am leaning towards buying the additional warranty. Plus peace of mind!
by kamikazekid
Tue Jan 05, 2021 5:50 am
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Re: Used car buying (quick question)

All - Update as of 05JAN I finalized the used car 2018, 21k miles for $29355 OTD. The new car 2020 dealer at first refused to come down from $34969 (he quoted the same figure to my wife who used a different email than mine). When I informed him that I am not pursuing this car anymore he came down to 34500. In fact he even tried to get me 34k OTD but his manager refused. They wanted me to come in and sign off yesterday before 8-00 pm but that wasnt possible logistically. The 2018 is a CPO car and comes with 1 yr Basic warranty from date of purchase. Honda is also offering via a 3rd party an additional 2 yr warranty for $1350 (negotiated down from $)1800. Thus I will get 3 yr basic warranty. The good thing is they are including oil changes fo...
by kamikazekid
Thu Dec 31, 2020 3:51 pm
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Re: Used car buying (quick question)

Cheers JackFFR! . I am about 20 miles from Copley Square. So if I interpret your comment right, you would lean to gently used? Yes, I am planning to keep it till both kiddos grow up (one is 6 yo, another coming in Spring)
by kamikazekid
Thu Dec 31, 2020 3:08 pm
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Re: Used car buying (quick question)

Wanted to share an update almost 4 days into this process. On Monday am I sent emails to 6 dealers and asked for OTD prices. I was firm and polite in emails and asked for BEST OTD. As expected they wanted me to come in and talk on phone etc. I refused and said I am shopping around. By WED I had received 9 OTD prices. 3 quotes on NEW 2021 Odyssey EX-L All in the 40k range. (eliminated, too expensive) 3 quotes on NEW 2020 - -The best one I got was $34900 (no nonsense polite dealer) , -Next best was 35100 (good dealer but says all negotiations happen at dealership and best prices can be discussed only one I am there. I have a 75 minute drive to get there and I doubt if they will go substantially below 34900 to make it worthwhile ) - Another wa...
by kamikazekid
Sun Dec 27, 2020 9:09 am
Forum: Personal Consumer Issues
Topic: Used car buying (quick question)
Replies: 30
Views: 2995

Used car buying (quick question)

I've gone through Denovo's legendary car buying post. We've decided to buy a gently used Odyssey (2018/2019/2020), EX-L trim for our family of soon to be 4. I am about to start the quote solicitation process and wanted to check 1. Can I ask for quotes for the exact same car with the same VIN # at multiple dealerships? How does this work ? If I see a car with a specific VIN # with dealer X, why would dealer Y give me a quote on it since its not even on his lot? 2. Or should I be looking at equivalent cars (different VIN #s) but roughly same miles, exact same trim and then obtain quotes on that? This will lead to me obtaining one quote / car and then choose the most optimal one. With Denovos approach you are obtaining multiple quotes/car and ...
by kamikazekid
Mon Oct 12, 2020 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to document this sale to a private party
Replies: 3
Views: 537

Do I need to document this sale to a private party

Hello I wanted some advice around what's the right thing to do to protect me and the buyer both. I (private party) am going to sell to him (an individual who occasionally coaches kids) a ball throwing machine for the price of $1500. I would like to sell the machine as is and once the transaction is complete do not want to own any responsibility for further repairs, trouble shooting, communicating with the manufacturer etc. I am the original owner - the machine was originally purchased from the UK and once I had to send it to them for repairs. Everything has been fixed and its good to use but we havent tested it in a live environment. I have demo'd the machine operation to the buyer who seemed happy that everything is working as intended. Qu...
by kamikazekid
Wed Aug 05, 2020 4:54 pm
Forum: Personal Consumer Issues
Topic: Scheduling Software?
Replies: 2
Views: 506

Re: Scheduling Software?

Have you tried doodle.com? It might work well for you.
Another solution is to have an excel on a Google Drive and provide the necessary access to your users. It allows for simultaneous editing and all data will be visible to those who can access the sheet.
by kamikazekid
Sun Jul 26, 2020 7:30 pm
Forum: Personal Consumer Issues
Topic: TV antenna
Replies: 48
Views: 3279

Re: TV antenna

I got the MohuReleaf that comes highly recommended by consumer reports. Have had good luck. Try and move it as high as possible, next try and move it as close to the window/patio door as possible. You will have to play around a bit to get a good clean signal. I have mine stuck to my patio door using a scotch tape :)

Also, try auto tuning your TV once in a while - that seems to help to!
by kamikazekid
Sat Jul 25, 2020 8:38 am
Forum: Personal Consumer Issues
Topic: Family expanding - Time for a 3 row SUV
Replies: 69
Views: 5561

Re: Family expanding - Time for a 3 row SUV

Dear Bogleheads
Thank you for the thoughtful responses. The minivan topic has been broached this am with the spouse :)
I was frankly surprised to see such strong support for minivans - it seems to me that those who have one are really strong advocates given the utility one derives from it - 3rd row access, larger storage, car seat access etc.
I will test drive a couple of minivans and a couple of 3 row SUVs and take it from there.
Thanks!
by kamikazekid
Fri Jul 24, 2020 4:25 pm
Forum: Personal Consumer Issues
Topic: Family expanding - Time for a 3 row SUV
Replies: 69
Views: 5561

Re: Family expanding - Time for a 3 row SUV

:) Wife wants nothing to do with one. I am not fighting that battle ! :D
by kamikazekid
Fri Jul 24, 2020 3:56 pm
Forum: Personal Consumer Issues
Topic: Family expanding - Time for a 3 row SUV
Replies: 69
Views: 5561

Family expanding - Time for a 3 row SUV

Our family is expanding! We have a 5.5 yo, and a new baby due in March. My parents and in laws both live outside US and often visit us for longer durations (3+ weeks) to as long as 2 months). I am in the market for a 3 row SUV - aim to buy closer to October. Option 1 - Buy a gently used Pilot or Highlander or CX9 or Subaru Ascent. I have ruled out VW Atlas. Option 2 - Buy a new Telluride or Pallisade. Prefer Option 1 - I will get the latest safety features and wont pay premium. I doubt if dealers will budge even slightly on prices for Telluride/Pallisade since they are apparently selling like hot cakes. Question for the community : 1. Are there folks on the forum who have first hand experience with either of the vehicles listed in OPtion 1 ...
by kamikazekid
Fri Jun 26, 2020 11:53 am
Forum: Personal Consumer Issues
Topic: What are you listening to now
Replies: 5802
Views: 575231

Re: What are you listening to now

I am listening to violin and sufi music by Shujaat Khan. I also listen to storyline online when my little one is on it. Good for the soul both.
by kamikazekid
Wed Jun 24, 2020 8:25 am
Forum: Personal Finance (Not Investing)
Topic: A gift from abroad
Replies: 5
Views: 653

Re: A gift from abroad

You are correct - they are Kiwis (NZ citizens) ...Pretty safe to say I am not in danger of crossing the 11.58 Mil limit :) Thank you for your insight.
by kamikazekid
Wed Jun 24, 2020 6:07 am
Forum: Personal Finance (Not Investing)
Topic: A gift from abroad
Replies: 5
Views: 653

A gift from abroad

Dear Bogleheads, My inlaws are preparing to provide us a substantial amount of cash to help with downpayment for the new house. Exact amount TBD but in the 100-125k range. Expected timing : Q1, 2021. The live abroad (not in USA) I had a few questions 1. Can I "receive" this money directly in my bank account? I have read that transactions above a certain amount can draw scrutiny. Who should I be talking to to understand how to do this by the book? 2. Would I owe any taxes at all on this money ? I read that one can receive a gift of 15k/year per the 2020 tax regulations. For a couple that would mean 30k/year. Would it make more sense to have them send the money in chunks 3. Which professional should I be consulting with to ensure th...
by kamikazekid
Mon Dec 30, 2019 9:46 am
Forum: Personal Investments
Topic: Best use of windfall - pay current mortgage or downpayment on new home?
Replies: 15
Views: 1092

Re: Best use of windfall - pay current mortgage or downpayment on new home?

$650K-$700K home seems high to me on ~$200K income (once she starts working). Although it may be hard for many, if they insist they want to give you the money now, we would just park it in a savings/money market account until we decided what to do (pay off the house or buy a new one). Based on the numbers I would be inclined to pay off the current house, however, it sounds like it may be too small for you with two kids. So in that case, I would consider looking for a nicer house I could afford with your current salary, putting the $150K plus current house sale proceeds towards the down payment. So here is the math: If I pay off 150k, pending balance is 22k only. Now if I purchase a home in 2021 for 650k, I can easily tap into the entire pr...
by kamikazekid
Mon Dec 30, 2019 9:44 am
Forum: Personal Investments
Topic: Best use of windfall - pay current mortgage or downpayment on new home?
Replies: 15
Views: 1092

Re: Best use of windfall - pay current mortgage or downpayment on new home?

mortfree wrote: Mon Dec 30, 2019 9:30 am I wouldn’t pay it off only to withdraw equity in a year.
Seems like some hoops to jump through and there would probably be costs associated with the home equity option.
Also you need to do the home equity move before placing your house for sale. Check on this.

Otherwise you might have to put a contingency to sell your home before buying the next one. That might not put you in a good bargaining position.
Fair point regarding needing a potential contingency. Thank you for the insight. I didnt quite get your first 2 points about why it doesnt make sense to pay off and withdraw in an year. Hassles (paperwork and costs) appear to be minimal.
by kamikazekid
Mon Dec 30, 2019 9:31 am
Forum: Personal Investments
Topic: Best use of windfall - pay current mortgage or downpayment on new home?
Replies: 15
Views: 1092

Re: Best use of windfall - pay current mortgage or downpayment on new home?

We anticipate moving to a new home in 2021. We need a bigger space.
by kamikazekid
Mon Dec 30, 2019 9:24 am
Forum: Personal Investments
Topic: Best use of windfall - pay current mortgage or downpayment on new home?
Replies: 15
Views: 1092

Best use of windfall - pay current mortgage or downpayment on new home?

Dear Bogleheads I want to figure out how to best use the unanticipated windfall from my in laws and whether there are any things I should consider. Background We purchased a home in New England in 2011 for $260k, 2 bed, 1.5 ba. We owe around 172k on this loan. Mortgage terms are as under Monthly Payment: $1450 Extra paid to principle each month: $100 Term: 30 years Interest Rate: 3.625% Total pending to be paid off : $172k 2019 Interest paid YTD $6500 We intend to move into a bigger home in 2021 and we expect the new home to cost around $650-700k. My in laws who live in New Zealand would like to gift us approx. USD 150k to help payoff the loan or at least a major part of it. The thinking is as follows: By paying of the loan, I can not only ...
by kamikazekid
Sat May 18, 2019 5:34 am
Forum: Personal Consumer Issues
Topic: Instant Coffee?
Replies: 107
Views: 9982

Re: Instant Coffee?

Go to the nearest Indian store. Look for a BRU instant coffee. Its my favorite - i use 1.5 tea spoons per cup and 1/2 spoon sugar. Just had a morning cuppa a few minutes ago. For a better effect use a aerolatte to foam it up. Let me know how it goes!!
by kamikazekid
Thu May 02, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance?
Replies: 8
Views: 1338

Re: How much life insurance?

Thank you for the advice. Its helpful to get a sense of what I should be doing. Regarding disability insurance, I am covered at work.
by kamikazekid
Wed May 01, 2019 9:19 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance?
Replies: 8
Views: 1338

How much life insurance?

Hi fellow bogleheads,
Are there any rules / recommendations around how much life insurance one must have? I am currently insured upto 1x of my annual salary but recently I had a free financial consultation at work (by BayState Financial) and they advised me to up my coverage to at least a million dollars. Frankly, I have not paid much attention to this and would like some guidance on what will be best for me / family.

Background: 40 yo/male, steady job in big company, annual salary approx $120k. Wife is a student and will work fulltime starting 2020 and we have a young child (4 yo).

Thanks in anticipation.
by kamikazekid
Sat Dec 01, 2018 12:46 pm
Forum: Personal Investments
Topic: Read 4 pillars, now tad confused
Replies: 2
Views: 752

Read 4 pillars, now tad confused

Just finished reading 4 Pillars of investing and now I have a couple of doubts. SOme background : I am well versed with the Bogleheads philosophy and I follow the same - low cost indexing, with AA of 80/20 1) The book recommends investing in REITs. Current I have no exposure to this class - Should I look to adding this to my portfolio? I dont really understand REITs except that they provide dividends. If I decide to buy, would I consider them as part of my stock or Bond allocation? or should I be considering them as a different asset class all together? Are there any tax implications I need to know about. 2) Book recommends investing in Short term Corporate Bonds. Is that necessary ? Currently I only have the index bond fund. 3) My savings ...
by kamikazekid
Thu May 10, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: Keeping ones wits when things are chaotic
Replies: 12
Views: 1777

Keeping ones wits when things are chaotic

Hi Bogleheads, I am hoping to tap into the collective wisdom of the group here - especially the more experienced group members. The question I have is how do you typically handle the curveballs life throws at you ? Any pointers, guidance will be helpful. I trust this forum more than any self-help group. Background: My wife (PhD student) & I are both mid to late 30s, 1 3yo daughter. We live in a modest 2 bedroom, all are healthy, make decent money and in general live a good life. But over the last year, a couple of major incidences have caused stress and mental anguish to us. As a result, we both feel rushed in our day to day life and moreover, these incidences are causing us to be not our 100% at work. Here are the 2 situations: 1) My n...
by kamikazekid
Mon Apr 02, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: How much do I need to save?
Replies: 16
Views: 4193

Re: How much do I need to save?

OP, Assuming your current annual expense is 60K and your number is 25X = 1.5 million. Starting Net Worth $505,000 Annual Savings $47,000 Years Annual Return Rate 7 8 9 10 5.00% $1,093,260 $1,194,923 $1,301,669 $1,413,753 6.00% $1,153,844 $1,270,074 $1,393,279 $1,523,875 7.00% $1,217,659 $1,349,895 $1,491,387 $1,642,784 8.00% $1,284,853 $1,434,641 $1,596,413 $1,771,126 9.00% $1,355,580 $1,524,582 $1,708,795 $1,909,586 You will reach your number in 9 to 10 years. If you increase your annual saving to 67K, Starting Net Worth $505,000 Annual Savings $67,000 Years Annual Return Rate 7 8 9 10 11 5.00% $1,256,100 $1,385,905 $1,522,201 $1,665,311 $1,815,576 6.00% $1,321,720 $1,468,024 $1,623,105 $1,787,491 $1,961,741 7.00% $1,390,739 $1,555,091 $1...
by kamikazekid
Mon Jan 29, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: April vacation for 2 families
Replies: 13
Views: 1557

Re: April vacation for 2 families

DarthSage wrote: Sat Jan 27, 2018 5:35 pm Myrtle Beach. The ocean might not be warm enough for swimming, but there are a ton of resorts with indoor and outdoor heated pools--plus, the beach is right there. You can rent different sized condos, 1-4 bedrooms. Lots to do in the area. Some resorts have mini-golf, water slides, lazy rivers, and so forth.

Thank you, outdoor heated pools sounds fantastic. Will explore this in detail.