Search found 67 matches

by mrsytf
Thu Mar 23, 2017 7:43 pm
Forum: Investing - Help with Personal Investments
Topic: help starting fresh from years of financial disaster
Replies: 29
Views: 3705

Re: help starting fresh from years of financial disaster

I was not married when I had my first kid with my (now) husband. We were co-habitating and I got pregnant (surprise!). My husband at the time was into the whole, "we don't need a piece of paper to prove our commitment" kick. In any case, i insisted if we were not going to get married we ha...
by mrsytf
Mon Mar 20, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Long term unemployment planning
Replies: 61
Views: 2528

Re: Long term unemployment planning

This doesn't answer your question but you have $40k in cash under investments. Why isn't this invested? You mentioned reallocation but you can reallocate with he $2k/month you are contributing. That's what I do. If everything is balanced the money goes in according to my AA. If my bonds for example ...
by mrsytf
Sat Mar 18, 2017 6:12 pm
Forum: Investing - Theory, News & General
Topic: Crowdfunding real estate?
Replies: 20
Views: 1132

Re: Crowdfunding real estate?

I don't mind illiquid, not at this stage in my life. I have an ample emergency fund of approx 1 year and a $200,000 credit line on my credit cards alone. I also have a HELOC of $150,000. If I manage to blow all that money, as a last resort I also have family that love me and have their act together ...
by mrsytf
Sat Mar 18, 2017 2:05 pm
Forum: Investing - Theory, News & General
Topic: Crowdfunding real estate?
Replies: 20
Views: 1132

Re: Crowdfunding real estate?

The white coat investor dabbled in a few and writes about his experience here. He's hinted at an update shortly. This is from May 2016. http://whitecoatinvestor.com/our-real-estate-empire/ I have 10K in peer street. Im less than a year in and a few on my investments are suppose to be coming due in a...
by mrsytf
Fri Mar 17, 2017 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Does new job affect pre-qualifying for mortgage?
Replies: 18
Views: 1017

Re: Does new job affect pre-qualifying for mortgage?

To prequalify I don't believe they ask for any documentation. I recall getting a prequalify note to strengthen our offer and it came in via email in an hour based on a simple questionnaire. Income, assets, liabilities purchase price of home etc. Granted the mortgage guy worked out of the same office...
by mrsytf
Fri Mar 17, 2017 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Does new job affect pre-qualifying for mortgage?
Replies: 18
Views: 1017

Re: Does new job affect pre-qualifying for mortgage?

A similar thing happened when my husband and I purchased this home. I was between two jobs so to simplify matters we just put the mortgage in my husband's name. I was still able to be placed on the title. That's what I would recommend. It would be disheartening to lose out on their dream home for th...
by mrsytf
Wed Mar 15, 2017 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: Need help saving for college in Taxable Account
Replies: 9
Views: 670

Re: Need help saving for college in Taxable Account

I'm not so sure I would continue contributing to the older child's account. If you plan to keep on working while the child is in college, why don't you simply cash flow college and supplement with what you already have saved. College is just two years away and four years long (possibly shorter) to r...
by mrsytf
Tue Mar 14, 2017 3:17 pm
Forum: Personal Consumer Issues
Topic: Time Saving Tactics: Kids Edition
Replies: 57
Views: 3368

Re: Time Saving Tactics: Kids Edition

I'm sure we are not as organized and clean as stoptothink but we too only do two maybe three loads of laundry/week. I never understood why some people do laundry every day. What a time sink! Friday night I take the three boys' dirty clothes and put in washer. We have dinner. Clothes go to dryer or h...
by mrsytf
Mon Mar 13, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Want to make large auto loan payment, Chase doesn't accept credit cards
Replies: 13
Views: 1107

Re: Want to make large auto loan payment, Chase doesn't accept credit cards

You might try plastiq.com which allows you to pay for anything with a card including mortgage and rent. You have to pay a 2.5% fee however for the privilege which in my mind negates the point/miles benefit. Folks mostly do it to meet minimum spending requirements for credit card bonuses.
by mrsytf
Sun Mar 12, 2017 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Please help me with my portfolio - from a naive doctor
Replies: 13
Views: 1547

Re: Please help me with my portfolio - from a naive doctor

How old is your husband? Why is he insured for such a small amount? If he goes, so does your childcare. And your child is still small. I would look into a term life insurance policy for him- 10 years should suffice. You can always cancel it if you find yourself in better financial footing before the...
by mrsytf
Sun Mar 12, 2017 8:17 pm
Forum: Personal Consumer Issues
Topic: gratuitous homeownership items
Replies: 215
Views: 15852

Re: gratuitous homeownership items

Formal dining and living room. I still hold on to the illusion that one day I will host a dinner party in which the dining room will be of use. Hasn't happened yet, but hope springs eternal....
by mrsytf
Fri Mar 10, 2017 9:20 am
Forum: Investing - Theory, News & General
Topic: Maxed the 457 for the first time - Can I reach my goal?
Replies: 8
Views: 673

Re: Maxed the 457 for the first time - Can I reach my goal?

I've got 9 years on the job. I can retire at age 54 with healthcare. Any earlier and I get pro-rated benefits, minus 3% per year. So the benefits you were referring to relate to just healthcare? I wouldn't necessarily let that tie me down to a job until 54 if I had thoughts of retiring early and co...
by mrsytf
Fri Mar 10, 2017 6:49 am
Forum: Investing - Help with Personal Investments
Topic: Investing when market is peaking
Replies: 49
Views: 5086

Re: Investing when market is peaking

I've been holding 15% of my portfolio in cash since before the election. This was new money I earned that I just put in a money market instead of index funds. I finally just put the money in. Without getting political I expected complete disaster and chaos post election. Didn't happen and I'm tired ...
by mrsytf
Fri Mar 10, 2017 6:39 am
Forum: Investing - Theory, News & General
Topic: Maxed the 457 for the first time - Can I reach my goal?
Replies: 8
Views: 673

Re: Maxed the 457 for the first time - Can I reach my goal?

Looks like you are on track. You will have a pension plus your savings which seem robust. What are your plans for college? How old will your kids be at age 54? Are you planning on having anymore? Also if you plan to buy a home try for a 15 yr mortgage if you can afford it, to have it paid off by ret...
by mrsytf
Tue Mar 07, 2017 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable investment plan for kids college
Replies: 76
Views: 3253

Re: Taxable investment plan for kids college

My husband and I had a similar debate. I wanted to fund the 529's aggressively. My husband favored retirement savings. The compromise was that I put $2k/Year per kid which is the OH state tax deduction limit. IL is a bit more generous- lucky dog. I would commit to putting a small amount in yearly, s...
by mrsytf
Tue Mar 07, 2017 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable investment plan for kids college
Replies: 76
Views: 3253

Re: Taxable investment plan for kids college

For ages 0 and 3, I think 100% stock is ok. Many target date college funds start stock heavy in these young years transitioning to increasing bonds at around age 5. I really like 529's. I view it as free money. This may be controversial but it bothers me that people pay different amounts for the sam...
by mrsytf
Sat Mar 04, 2017 12:29 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on "stuff" for kids?
Replies: 53
Views: 3507

Re: How much do you spend on "stuff" for kids?

What's important is not how much or what, but saying no from time to time. My parents gave us nothing..not because they didn't have...they just didn't think toys and such were necessary. They grew up poor. Hence no toys for birthday, Xmas or really ever. The few toys I had were from relatives. I gre...
by mrsytf
Fri Mar 03, 2017 8:39 pm
Forum: Investing - Help with Personal Investments
Topic: Buy a house? But there's a student loan elephant in the room
Replies: 21
Views: 1645

Re: Buy a house? But there's a student loan elephant in the room

I recommend some sort of down payment mostly to have some equity in the home in the case of a housing market downturn.
We used one of those physician loans as well which allowed us to put down 15% instead of 20 and not get burned by PMI.
by mrsytf
Fri Mar 03, 2017 8:37 pm
Forum: Investing - Help with Personal Investments
Topic: Buy a house? But there's a student loan elephant in the room
Replies: 21
Views: 1645

Re: Buy a house? But there's a student loan elephant in the room

I don't think you need to be completely out of student loan debt to buy a home, especially if you do not live in a HCOL area. I wouldn't recommend buying the house right now, but in two more likely three years when the debt load has been cut by half, it might be an option. But I also would not buy a...
by mrsytf
Thu Mar 02, 2017 7:55 pm
Forum: Investing - Help with Personal Investments
Topic: 403b or 529 Contribution?
Replies: 12
Views: 647

Re: 403b or 529 Contribution?

Do you get a state tax deduction for 529 contributions?
by mrsytf
Thu Mar 02, 2017 6:38 pm
Forum: Investing - Help with Personal Investments
Topic: Leaning toward partial early retirement. I need guidance please.
Replies: 5
Views: 558

Re: Leaning toward partial early retirement. I need guidance please.

I say do it. You have enough in the pension to cover "basic" expenses. If the business does poorly one year, no stress you know that you can cover the bills. Plus your wife can also go back to work if need be. I would still advocate continued savings. I hate to say it...but you are kinda b...
by mrsytf
Wed Mar 01, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh, why is buying a new car so painful?
Replies: 64
Views: 7126

Re: Ugh, why is buying a new car so painful?

The plot thickens...Got one email back late yesterday evening. My price quote: MSRP, sales tax, and doc processing fee. This email followed a stressful morning which started by my husband and I carrying our three kids down to the basement while the tornado sirens were blaring. I fired a quick email ...
by mrsytf
Tue Feb 28, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh, why is buying a new car so painful?
Replies: 64
Views: 7126

Re: Ugh, why is buying a new car so painful?

Unfortunately there are no car buying services in this part of the country. All my emails (3) thus far have gone unanswered after 24 hours. I'm just going to wait a month. Maybe once the cars are on the lot the dealers will be more responsive. Going to several dealerships with my kids is a no-go. Af...
by mrsytf
Tue Feb 28, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2589

Re: Physician Disability Insurance

I'm on the fence on whether or not you should purchase this or not but wanted to bring up one point. If you were to become disabled I would not count on your wife's income. My friend's dad had ALS in his 50's. His wife quit working for the five years he lived with the disease taking care of him as h...
by mrsytf
Mon Feb 27, 2017 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Ugh, why is buying a new car so painful?
Replies: 64
Views: 7126

Ugh, why is buying a new car so painful?

I want to purchase a Pacifica hybrid. They are arriving at the dealerships in a few weeks. I went through true car, got a quote and was matched with three dealers. They started calling right away. I told the first guy I know what I want...I'm just looking for a price. He tells me sure come on in and...
by mrsytf
Thu Feb 23, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Father runs an empire at age 80; not my business?
Replies: 18
Views: 4040

Re: Father runs an empire at age 80; not my business?

I wonder if it will even be an issue. Since his wife is considerably younger, chances are she will outlive him and inherit the entirety of his assets. If it is true as you state that he probably does not have an intact will designating what goes where, it is even more likely she will inherit everyth...
by mrsytf
Sat Feb 18, 2017 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on girlfriend debt/finances
Replies: 82
Views: 7252

Re: Need advice on girlfriend debt/finances

I'm glad to hear that you are hearing us when we say do not pay off her debt. Think about it, if you didn't save a dime,spent freely in excess of your income, and someone swooped in to pay your bills, would you be motivated to get out and stay out of debt? Of course not. If you love her which I thin...
by mrsytf
Fri Feb 17, 2017 9:28 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

My 2010 tax return is the only return I could find that contained form 8606. At that time the limit was $5000 which is what I contributed. It was 2013 that I made the withdrawal. Long story short, I was trying to float a short term loan for myself. Before 60 days I was able to return all but $5000.T...
by mrsytf
Fri Feb 17, 2017 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

Thanks DSInvestor and retiredjg for hanging in there with me. I have for sure made nondeductible traditional IRA contributions in the past. 2015 for sure, 2016/17 (in progress), and I believe in either 2012 or 2013. So once I collect those form 8606's that will establish my basis correct? Once I sen...
by mrsytf
Fri Feb 17, 2017 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

I am pretty sure I am confused. :shock: ` I have to go back to look at the tax returns to see when and what I have contributed in the past. Sigh...after years of paying an accountant to do our taxes, I thought I would tackle them this year myself. Other than this backdoor ROTH, our financial situati...
by mrsytf
Fri Feb 17, 2017 3:48 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

Won't I be taxed on the earnings that were generated on those IRA contributions? Or are you saying I am just converting the amounts contributed over the last ten years versus the total amount contributed and earned? This will take some digging, because at some point seven or eight years ago, I withd...
by mrsytf
Fri Feb 17, 2017 3:13 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

You are saying you plan to roll the IRA with the non-deductible contributions into the 401k. Maybe that is not what you intend to say?

Yes.
by mrsytf
Fri Feb 17, 2017 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Re: Timing of IRA rollover to solo 401k

According to the wiki, all IRA's except Roth's can be rolled into a solo 401k: traditional, sep, rollover, etc. https://www.bogleheads.org/wiki/Solo_401(k)_plan I had a sep IRA for years, but this year, 2017, opened a solo401k to allow for more tax-deferred savings. I also want to rollover all outst...
by mrsytf
Fri Feb 17, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: Timing of IRA rollover to solo 401k
Replies: 14
Views: 527

Timing of IRA rollover to solo 401k

Just a quick question. I finally opened a solo401k at fidelity this year (2017). I still have to make my nondeductible IRA and sep IRA contributions for 2016. Does it matter how long after I make those contributions that I roll them into the solo401k? Also can I put all the contributions into my exi...
by mrsytf
Thu Feb 16, 2017 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: Expecting first child portfolio review request
Replies: 4
Views: 553

Re: Expecting first child portfolio review request

When is the baby due? If I were your wife and if you had the money I would try to contribute the full 18k from the 403b over the next few working months and maternity leave.
by mrsytf
Tue Feb 14, 2017 8:09 pm
Forum: Investing - Help with Personal Investments
Topic: Pay extra principal on mortgage or invest in mutual fund?
Replies: 6
Views: 478

Re: Pay extra principal on mortgage or invest in mutual fund?

Do you have any money in a taxable account currently? Having additional funds invested is helpful in the event of a mid career decision to start a new business, large purchase such as a boat, extensive home remodeling, advanced degree etc etc. I would build up the taxable account first and after you...
by mrsytf
Mon Feb 13, 2017 9:14 am
Forum: Investing - Help with Personal Investments
Topic: What to do with daughter's $100
Replies: 73
Views: 4248

Re: What to do with daughter's $100

This type of questions warrants a few more details. Is your daughter planning to get her own place, go back to school? If so a money market might be a good place to have short term money available. If she is planning to live with you indefinitely and likely won't need the money for awhile or can't b...
by mrsytf
Fri Feb 10, 2017 8:01 pm
Forum: Personal Consumer Issues
Topic: Convince Wife for Honda Odyssey
Replies: 48
Views: 2769

Re: Convince Wife for Honda Odyssey

Another thing. At 3 months our babies were in those car seats that can detach from the base in the car to carry around. Maybe yours too. Have your wife compare detaching the seat from the base in a minivan vs an SUV and putting the seat back into the base. First baby I had a sedan. While we were wai...
by mrsytf
Fri Feb 10, 2017 7:47 pm
Forum: Personal Consumer Issues
Topic: Convince Wife for Honda Odyssey
Replies: 48
Views: 2769

Re: Convince Wife for Honda Odyssey

I too was against having a minivan. We were on the cusp of purchasing a Buick Enclave when my husband announced out of the blue that he had talked to his sister and decided we should get a minivan. His sister . My car. In any event, the doors are wonderful because they slide back not out. In the pre...
by mrsytf
Fri Feb 10, 2017 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for college for 2 kids: 3 and 0
Replies: 80
Views: 3328

Re: Saving for college for 2 kids: 3 and 0

http://www.bayalisistheanswer.com/hitchhikers-guide-529-superfunding/ An alternative view. You can superfund a 529 by gifting each kid 28k (14k from each spouse) a year. The theory is that you have more time to allow the money to grow taxfree. Don't think you have the money? You have nearly two year...
by mrsytf
Thu Feb 09, 2017 8:27 pm
Forum: Personal Consumer Issues
Topic: Cost of tax preparation
Replies: 43
Views: 3382

Re: Cost of tax preparation

Our accountant charges $950 for federal and state returns that include: 2 W2's with itemized deductions, nanny taxes, a schedule C, one k-1, a few 1099's that end up categorized as other income, and capital gains/dividends. I usually send him the info next day mail since he is out of state and I get...
by mrsytf
Mon Feb 06, 2017 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to deploy savings - Ok to stop saving for retirement?
Replies: 17
Views: 2036

Re: Best way to deploy savings - Ok to stop saving for retirement?

Retirement savings are currently 1/3 taxable accounts and 2/3 tax deferred. Taxable is 70/30 at this point in time.
Is there a rule of thumb of taxable vs tax deferred with regard to early retirement?
by mrsytf
Mon Feb 06, 2017 6:04 am
Forum: Investing - Help with Personal Investments
Topic: Best way to deploy savings - Ok to stop saving for retirement?
Replies: 17
Views: 2036

Re: Best way to deploy savings - Ok to stop saving for retirement?

It's a total of $280,000 but after tax it's $180,000. That's the part this post is dedicated to. I forgot about my husband's 403b match which adds another $9000 towards retirement which is making me lean more towards holding off on the aftertax retirement contributions. I'm thinking of perhaps $100,...
by mrsytf
Sun Feb 05, 2017 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to deploy savings - Ok to stop saving for retirement?
Replies: 17
Views: 2036

Re: Best way to deploy savings - Ok to stop saving for retirement?

Thanks for the early replies. We estimate we will need $75,000 in retirement in the absence of a mortgage or college expenses. This does not take into account social security or my pension. That's bonus income. Plus we are likely to get an inheritance. Here is an example of a couple that makes a lot...
by mrsytf
Sun Feb 05, 2017 1:20 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to deploy savings - Ok to stop saving for retirement?
Replies: 17
Views: 2036

Best way to deploy savings - Ok to stop saving for retirement?

Asking from some help for the board because I tend to suffer from analysis paralysis and a little bit of impulsivity. I'd like to create a plan this year and stick to it (as best I can.) My husband and I are in our early 40's with three small kids, age 8( 2nd grade),6 (kindergarten),3 (preschool). B...
by mrsytf
Thu Feb 02, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice please: early 30's tech employee, new mom, confused
Replies: 36
Views: 3913

Re: Career advice please: early 30's tech employee, new mom, confused

I work part time and it's working out great. I have three kids age 8,6, and 3. If I wasn't over 40, I could easily have a 4th. Professionally I'm not where I could be but it's a sacrifice I'm making to be more available for my kids. The writing sounds like it's on the wall at job 1. I would start lo...
by mrsytf
Mon Jan 30, 2017 5:43 pm
Forum: Personal Consumer Issues
Topic: Is joining a country club a character flaw?
Replies: 101
Views: 8095

Re: Is joining a country club a character flaw?

Is flying first class a character flaw? I enjoy it immensely- preboarding, a free cocktail, and the overall attention I get from the flight attendant catering to all my needs. I enjoy it so much I have at times paid for it out of pocket for long trips. I sometimes feel so spoiled and wasteful being ...
by mrsytf
Fri Jan 27, 2017 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: Real Estate Investing
Replies: 2
Views: 428

Real Estate Investing

The stock market is making my husband nervous :? and he has been talking about investing in real estate recently. Real estate makes me nervous :? having rented out first a few rooms in my home and then the whole house once up on a time in residency and fellowship. The thought of being a landlord aga...
by mrsytf
Thu Jan 19, 2017 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Possible reality check needed?
Replies: 13
Views: 951

Re: Possible reality check needed?

First of all, pay off the debt. It's small enough that you can tackle it in a few months. Second of all just put yourself on a budget. This is what I do and have been doing for the last two decades. I decide how much I'm going to save. In my younger years my goal was to max out my retirement account...

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