Search found 562 matches

by runner540
Sat Feb 17, 2018 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 125
Views: 6918

Re: I'm Cancelling My Home Insurance

When you cancel your HO policy, you will create a $300,000 deductible on your Umbrella policy for any liability associated with your house. Additionally, one of the big benefits of liability insurance is the cost of defense. The insurance company agrees to pay for your defense even if the claims ar...
by runner540
Sat Feb 17, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Effect of spending money on appearance in career
Replies: 63
Views: 3741

Re: Effect of spending money on appearance in career

What business is this? What is your position? What is the reputation if the company. Is it large or boutique? Seems awfully sexist and borderline discrimination. Unfortunately it's reality for many many women in professional environments. Research has found a beauty/appearance premium AND a beauty/...
by runner540
Sat Feb 17, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Effect of spending money on appearance in career
Replies: 63
Views: 3741

Re: Effect of spending money on appearance in career

Great tips above. You have my sympathy - I really do understand. Sent you a PM.
by runner540
Fri Feb 16, 2018 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 78
Views: 5320

Re: Why paying off loans would be better than fully funding 401k?

Forgot to mention that we do have 529 plans for both kids. Not a ton in there and no new contributions going in. Have to get our finances in order before funding 529. He might have to delay college a year or 2. he can work and save if he really wants to go. Wow. To frame your budget numbers another...
by runner540
Fri Feb 16, 2018 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing house from relative with both gift of equity & downpayment
Replies: 5
Views: 434

Re: Purchasing house from relative with both gift of equity & downpayment

The bank probably cares about loan-to-value being <80%. They do an appraisal, and as long as the mortgage they give you is <80% of the value of your collateral (the house), that checks the PMI box (this is my layman's understanding).

(Deleted)
by runner540
Thu Feb 15, 2018 2:33 am
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 78
Views: 5320

Re: Why paying off loans would be better than fully funding 401k?

Break down of montly expenses: Fed tax $8450 State tax $1350 Disability $394 Employee 401k $1541 Health ins $1969 CPA fee $360 EF $500 Business savings $200 to cover licensing, certifications, other business expenses HSA $250 Mortgage $3870 401k loan $1200 Car ins $400 (17yr old male) Jeep $870 (36...
by runner540
Thu Feb 15, 2018 12:08 am
Forum: Personal Consumer Issues
Topic: Diamonds [Earrings and ring]
Replies: 13
Views: 851

Re: Diamonds [Earrings and ring]

You know her better than us. But unless she has specifically said, I want those diamond earrings, proceed with caution. Doesn't sound like you have a lot of experience with fine jewelry. There is so much variety beyond just studs. Blue Nile is nice for very basic, classic designs at good prices. But...
by runner540
Tue Feb 13, 2018 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA for 1st Home Purchase
Replies: 5
Views: 299

Re: Rollover IRA for 1st Home Purchase

Welcome! I Have not done either. Keep in mind that if you roll employer accounts into a traditional IRA, it will make future backdoor Roth contributions more costly/complicated. Taking money out of Roth is not recommended for good reasons. It would take dire straits to get me to do that. If $10k mak...
by runner540
Tue Feb 13, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 78
Views: 5320

Re: pay off loan debt, fund 401k. Where to put $s once EF funded?

Employee payroll 401k deductions being made to max out contributions at $18,500. Combined with HSA will result in a $7272 tax reduction. This money saved in taxes can be used to pay off the debt faster by leaving more money from reduced monthly taxes being taken out, correct? I calculated that inte...
by runner540
Tue Feb 13, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: I'm Lost Please Help Me :(
Replies: 20
Views: 2160

Re: I'm Lost Please Help Me :(

Pay off your debt, and max your 401k/backdoor Roth IRA/HSA accounts. Immediate tax savings on $300k single income in CA.
by runner540
Tue Feb 13, 2018 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Job is starting to suck the life out of me.
Replies: 73
Views: 8008

Re: Job is starting to suck the life out of me.

Am I just naive at 31? I try to take initiative to help out the department and they could all care less and I'm not even looking for a pat on the back. Just their demeanor speaks volumes. Including the head tech and the supervisor. Makes me just want to do enough while on shift just to get by under...
by runner540
Mon Feb 12, 2018 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 78
Views: 5320

Re: Help with what to do, pay debt, fund 401k, EF? TLH of taxable to fund one of these

Set up EF online account. Pays 1.45%. Fully funded by Oct 2018. after figuring up montly expenses, need about $30k for 3 months coverage (health, disability, and car ins, mortgage, min loan payments, gas, untilities, groceries, household needs) Set up vacation/general expenses (tires, repairs, etc)...
by runner540
Sun Feb 11, 2018 11:15 pm
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 78
Views: 5320

Re: Help with what to do, pay debt, fund 401k, EF? TLH of taxable to fund one of these

I recommend The Millionaire Next Door. It is 20 years old but the principles still apply and might help you and your wife build a healthier relationship with money. Just because you're a doctor doesn't mean you can afford everything Since she's the main breadwinner, does she have good insurance (dis...
by runner540
Sun Feb 11, 2018 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance Help
Replies: 4
Views: 520

Re: Inheritance Help

Welcome richard_texan: You say that this is your wife's inheritance. What are her thoughts about what to do with the money? I'm sorry for your family's loss. +1 Please talk to your wife, and make sure she discusses with a lawyer the potential implications of comingling HER inheritance with family f...
by runner540
Sun Feb 11, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Where are you getting 2.6% as the property tax rate? I live in Texas and my overall property tax rate is 1.6%. (And a quick Google search says that the average in the state is 1.9%.) Six different entities levy a tax where I live. Five of those six entities offer exemptions, so I pay tax to those e...
by runner540
Sun Feb 11, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Would it be a logical argument that renting is almost always better than buying a condo/SFH? The property taxes alone are more than the rent so how can it even make sense money wise to buy? There is a flaw in your argument someplace. If you rent you pay property taxes. Sure, it is indirect. The cou...
by runner540
Sun Feb 11, 2018 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

FYI, as a Houstonian, med center and downtown are two completely separate areas. Also I own in med center area (condo), PITI is $1000/month or so (a little less) with $200/month HOA. Someone I know who rents in same complex pays about same total amount. I did buy in 2003 though. What would the PITI...
by runner540
Sun Feb 11, 2018 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Where are you getting 2.6% as the property tax rate? I live in Texas and my overall property tax rate is 1.6%. (And a quick Google search says that the average in the state is 1.9%.) Six different entities levy a tax where I live. Five of those six entities offer exemptions, so I pay tax to those e...
by runner540
Sat Feb 10, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: what to look for when buying a flipped house
Replies: 27
Views: 1810

Re: what to look for when buying a flipped house

Haven't bought a flipped home, but live in a neighborhood where there are a lot of flips being done. Walk around the neighborhood, talk to the neighbors, the postman/woman, folks who are there everyday. I ran into the postal delivery person on a walk and we started chatting about all houses for sale...
by runner540
Fri Feb 09, 2018 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Do you mean any home or just condos? Yes property tax is higher here than average. But in general housing prices are a lot cheaper than most major metropolitan areas. As to renting, somebody has to pay the property tax. The landlord will have to pay it so obviously that would be factored into your ...
by runner540
Fri Feb 09, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Okay, so you are saying that the rent of a building will always be higher than the 2.6% Texas property taxes + mortgage + any HOA fees? So if I purchase any reasonable condo, townhouse, or SFH I will always be able to generate positive cash flow from the investment? I am trying to see if the 2.6% p...
by runner540
Fri Feb 09, 2018 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Why would people buy condos/SFH in Texas?
Replies: 61
Views: 5663

Re: Why would people buy condos/SFH in Texas?

Do you mean any home or just condos? Yes property tax is higher here than average. But in general housing prices are a lot cheaper than most major metropolitan areas. As to renting, somebody has to pay the property tax. The landlord will have to pay it so obviously that would be factored into your ...
by runner540
Thu Feb 08, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Piggyback Mortgage
Replies: 15
Views: 900

Re: Piggyback Mortgage

Sorry to hear about the medical issues. Very tough.

Is the primary, "conventional" mortgage not amortizing? In 2015 it was $415k, and now is $417k?

I'd suggest stopping 401k until you get the cc's paid off.
by runner540
Thu Feb 08, 2018 7:22 am
Forum: Personal Consumer Issues
Topic: Books and other resources about retiring abroad?
Replies: 14
Views: 886

Re: Books and other resources about retiring abroad?

The WSJ has some articles about it. If you and your partner have never lived abroad before, I'd recommend doing that before building your retirement plan on it. Very different from traveling, even extended travel. Some love it, some like it, some just tolerate it, amd some can't. Tax law will probab...
by runner540
Tue Feb 06, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer / Tax Deferment Question
Replies: 11
Views: 481

Re: First Time Home Buyer / Tax Deferment Question

Seems way too complicated for a (relatively) small amount for my taste. If you're adding $4k a month to your down payment fund, it should be no problem to divert $2800 and pay the tax now.
by runner540
Tue Feb 06, 2018 11:40 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer / Tax Deferment Question
Replies: 11
Views: 481

Re: First Time Home Buyer / Tax Deferment Question

assume you mean Traditional IRAs and your income is under the deduction limit. yes Sounds like there's lots of unknowns for you guys though. I would just pay the tax bill and move on, if it's complicated and unknown. Doesn't seem that complicated? The only unknown would be whether we actually buy a...
by runner540
Tue Feb 06, 2018 7:31 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5574
Views: 1260900

Re: U.S. stocks in freefall

One of the reasons for the drop is that wages rose. It could be a good buying opportunity for people who have money saved, but many people struggle to save money because cost of living has outpaced wage growth. If the stock market punishes wage growth, is there hope for those people to ever enter t...
by runner540
Mon Feb 05, 2018 7:12 pm
Forum: Investing - Help with Personal Investments
Topic: Simplifying and reorganizing finances
Replies: 7
Views: 770

Re: Simplifying and reorganizing finances

Would you please go back and get rid of the formatting marks like “<br/>” (that aren’t having their intended effect) in your post? They make it difficult to read. Also, do you not have health insurance now? Sorry. I deleted the formatting marks. Yes, we have health insurance through my husband's jo...
by runner540
Mon Feb 05, 2018 5:40 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5574
Views: 1260900

Re: U.S. stocks in freefall

People need to stop wishing for a crash. At least out loud. Even if YOU don't get hurt, many people will. I've been thinking the exact same thing when I've been reading this thread for the past week. EXACTLY. Some of us are literally on the verge of retirement. Others are IN retirement. People like...
by runner540
Sun Feb 04, 2018 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: Why do many bogleheads feel they can time the housing market but can't time the stock market?
Replies: 63
Views: 4581

Re: Why do many bogleheads feel they can time the housing market but can't time the stock market?

if its possible to time the housing market then why not time the stock market? It's a fair question, I'll give you that. But, I don't necessarily think people are trying to time the housing market, rather prevent others from paying too much for a place to live. I think housing gets more of the "wai...
by runner540
Sun Feb 04, 2018 6:30 pm
Forum: Investing - Help with Personal Investments
Topic: Why do many bogleheads feel they can time the housing market but can't time the stock market?
Replies: 63
Views: 4581

Re: Why do many bogleheads feel they can time the housing market but can't time the stock market?

if its possible to time the housing market then why not time the stock market? It's a fair question, I'll give you that. But, I don't necessarily think people are trying to time the housing market, rather prevent others from paying too much for a place to live. I think housing gets more of the "wai...
by runner540
Sun Feb 04, 2018 6:19 pm
Forum: Investing - Help with Personal Investments
Topic: Retired at 50. Staying 100% in stock Index Funds. Anyone else?
Replies: 153
Views: 13448

Re: Retired at 50. Staying 100% in stock Index Funds. Anyone else?

I'm not even sure I would call 2008 a "crash" because the fundamentals in our economy were still pretty solid hence the quick rebound. More like overdone panic selling. Perhaps with all your free time and no financial worries, you might consider reading more about the 2008 crash, recession and near...
by runner540
Sun Feb 04, 2018 6:09 pm
Forum: Personal Consumer Issues
Topic: Applying for a passport with a credit freeze
Replies: 7
Views: 674

Re: Applying for a passport with a credit freeze

I'm pretty sure the State Department can check your SSN without using the credit reporting agencies :)
by runner540
Sat Feb 03, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a backyard?
Replies: 35
Views: 2765

Re: How much to spend on a backyard?

Haven't seen this mentioned: In California, I'm guessing that $250k is about one year of aftertax income on $360k. Is your backyard worth a full year of your time?
by runner540
Sat Feb 03, 2018 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Am I saving enough?
Replies: 34
Views: 3120

Re: Am I saving enough?

No.

If you are in the 28% bracket your taxable income is $150k +, so gross is more like $175k+.
$15k is less than 10% of your income.

Save while you can. Life is uncertain. A lot can change over 20 years.
by runner540
Sat Feb 03, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Do you live on a budget?
Replies: 65
Views: 3348

Re: Do you live on a budget?

2015 wrote:
Sat Feb 03, 2018 2:39 pm
Since forever. What gets measured gets managed.
+1000
by runner540
Sat Feb 03, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6643

Re: How to think about your house from a financial perspective

We have moved through 4 primary homes over near 40 years now in relatively the same area. Our home has been a great investment for many reason including appreciation, cost (rent) control , tax write-off and for many years a tool for utilizing inflation through the mortgage. Our current home is abou...
by runner540
Fri Feb 02, 2018 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Help a friend that finally is asking for some
Replies: 14
Views: 979

Re: Help a friend that finally is asking for some

What are the goals/needs for this money? What are her expenses, and what will be covered by SS or pension? when she takes fra SS; she will get $2,300 per month. monthly expenses currently $3300-$3600 per month depending on future medical has medicare and supplemental plan in reasonably good health....
by runner540
Fri Feb 02, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Help a friend that finally is asking for some
Replies: 14
Views: 979

Re: Help a friend that finally is asking for some

What are the goals/needs for this money?
What are her expenses, and what will be covered by SS or pension?
by runner540
Fri Feb 02, 2018 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Owe big (for me) in 2017 taxes
Replies: 12
Views: 1082

Re: Owe big (for me) in 2017 taxes

Hello everyone, Last year I had a bunch of things going on....new job, tons of interest from bank bonuses, and about $22,000 in capital gains/qualified dividends from the liquidation of my taxable account in December in anticipation of a home purchase. Long story short, after playing around with ta...
by runner540
Fri Feb 02, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Abroad and what to do....
Replies: 9
Views: 989

Re: Abroad and what to do....

Congrats on the opportunity to work abroad. Before contributing to IRAs, please please consult with an expat tax specialist - it's very complicated. Given the short tume frame, I'd pay down the mortgage. We are actually talking to our accountant but we just wanted to get another perspective with ev...
by runner540
Fri Feb 02, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Abroad and what to do....
Replies: 9
Views: 989

Re: Abroad and what to do....

Congrats on the opportunity to work abroad. Before contributing to IRAs, please please consult with an expat tax specialist - it's very complicated. Given the short tume frame, I'd pay down the mortgage. We are actually talking to our accountant but we just wanted to get another perspective with ev...
by runner540
Fri Feb 02, 2018 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this house?
Replies: 50
Views: 4305

Re: Can I afford this house?

Adding a better financial picture... Our current balance sheet is: Cash - $500k Retirement - $750k Taxable investment - $380k Equity in condo after sales costs - $450k 529 plan - $20k Mortgage - $280k If we buy the townhouse, we will use the cash and all our taxable investments except $100k. So loa...
by runner540
Wed Jan 31, 2018 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: Abroad and what to do....
Replies: 9
Views: 989

Re: Abroad and what to do....

Congrats on the opportunity to work abroad. Before contributing to IRAs, please please consult with an expat tax specialist - it's very complicated.

Given the short tume frame, I'd pay down the mortgage.
by runner540
Wed Jan 31, 2018 6:39 pm
Forum: Investing - Help with Personal Investments
Topic: Become a rent-to-own landlord?
Replies: 9
Views: 665

Re: Become a rent-to-own landlord?

Anyone have experience owning a home with a rent-to-own tenant? I'm intrigued by the idea of having a tenant who intends to own the home and therefore is unlikely to trash it ... but also concerned about what happens if the tenant is unable to execute the purchase at the agreed-upon time (or choose...
by runner540
Wed Jan 31, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: The housing nowadays
Replies: 64
Views: 5856

Re: The housing nowadays

Median down payments for ALL borrowers are only 5%. Median for first time buyers is 3%. Let that sink in: 3% is not a minimum: half of first time buyers put down LESS than 3%. Well, that's just inadvisable. Wait, what? I can't get the link to render properly in my browser. Is this across the board ...
by runner540
Wed Jan 31, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Top 1% Net Worth Under 30 Years Old
Replies: 13
Views: 5791

Re: Top 1% Net Worth Under 30 Years Old

This blog analyzed the Fed's survey of consumer finances. Keep in mind this data is stale after a couple years of a bull market:
https://dqydj.com/net-worth-of-full-tim ... ed-states/

https://dqydj.com/who-are-the-one-perce ... ed-states/
by runner540
Tue Jan 30, 2018 10:53 pm
Forum: Investing - Theory, News & General
Topic: When did the bad news start in 2008?
Replies: 135
Views: 12612

Re: When did the bad news start in 2008?

I know a US Congressman did do, when that was not illegal. I believe the laws have been tightened up significantly on that- -US Congressmen were essentially exempt from insider trading laws, and an academic study showed their stock picking was much superior to that of investors generally. While I a...
by runner540
Tue Jan 30, 2018 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Denver Metro Real Estate market
Replies: 17
Views: 1301

Re: Denver Metro Real Estate market

Good question. No one really knows but here are two things: 1. New area: rent first until you learn the area. 2. Check out this index: it indicates that right now in Denver, Dallas and Houston, your net worth will be better off renting than buying https://business.fau.edu/departments/finance/real-es...
by runner540
Tue Jan 30, 2018 2:19 pm
Forum: Personal Consumer Issues
Topic: Selling a home yourself after cancelation of Realtor listing:
Replies: 18
Views: 1806

Re: Selling a home yourself after cancelation of Realtor listing:

Homes in the subdivision sold, four of them, at below market price simply because the owners preferred to take a loss rather than sit on them.... Unless there have been other recent sales one huge problem is that any potential buyer will not be able to get a mortgage appraisal at anything what you ...