Search found 584 matches

by runner540
Thu Apr 19, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Effects of 20% Down payment over time, thoughts?
Replies: 18
Views: 1885

Re: Effects of 20% Down payment over time, thoughts?

Can you get a non-FHA with 3.5%? If not, PMI is now for the life of the loan on FHA, I believe. Did you add that in? The big idea behind 20% down, I think, is that you avoid PMI and your dollars build equity quicker. So even if you move before the lines cross, assuming they are correct, you are sti...
by runner540
Wed Apr 18, 2018 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house... does this make sense?
Replies: 24
Views: 2200

Re: Expensive house... does this make sense?

Would a bank even give a mortgage to someone where the payment would be ~50% of take home? Especially when it hasn't been setup/permitted for a tenant yet? To answer your question, no it doesn't make sense. Keep looking. Hope someone can chime in on this one. I thought the DTI (debt to income ratio...
by runner540
Wed Apr 18, 2018 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house... does this make sense?
Replies: 24
Views: 2200

Re: Expensive house... does this make sense?

Would a bank even give a mortgage to someone where the payment would be ~50% of take home? Especially when it hasn't been setup/permitted for a tenant yet? To answer your question, no it doesn't make sense. Keep looking. Hope someone can chime in on this one. I thought the DTI (debt to income ratio...
by runner540
Wed Apr 18, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house... does this make sense?
Replies: 24
Views: 2200

Re: Expensive house... does this make sense?

Would a bank even give a mortgage to someone where the payment would be ~50% of take home? Especially when it hasn't been setup/permitted for a tenant yet? To answer your question, no it doesn't make sense. Keep looking. FlyAF, unfortunately plenty of lenders will, with the blessing of Fannie and F...
by runner540
Wed Apr 18, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Broke up with my girlfriend for financial reasons: crazy?
Replies: 53
Views: 2980

Re: Broke up with my girlfriend for financial reasons: crazy?

Hello Bogleheads, I just broke up with my girlfriend of 6 months for financial reasons, and wanted to share what happened with this forum, as it seems to be incredibly difficult for me to find a significant other who shares my financial goals, and I'm wondering if I'm being too strict with my stand...
by runner540
Wed Apr 18, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Overall Help w/ Budget
Replies: 15
Views: 1285

Re: Overall Help w/ Budget

I believe Dave recommends pausing the debt snowball in order to stockpile cash ahead of baby, just in case. Once baby is born and everybody's healthy, use that stockpiled cash to restart the snowball.
by runner540
Mon Apr 16, 2018 11:00 pm
Forum: Investing - Theory, News & General
Topic: Investing proceeds of home sale
Replies: 15
Views: 1140

Re: Investing proceeds of home sale

You're borrowing money at 4.25% post tax (100% certain) to invest in the market (100% UNcertain). You would need to get at least 5% (4.25% / 85%, assuming 15% LT cap gains tax rate) on your investments to break even, and on a risk adjusted basis, you need to get a lot more than 5%. Would you take ou...
by runner540
Mon Apr 16, 2018 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: If home prices decline but mortgage rates keep rising
Replies: 25
Views: 2604

Re: If home prices decline but mortgage rates keep rising

If mortgage rates rise, then you will be better positioned the more cash you have on hand, relative to other buyers heavily dependent on financing. Here is a good resource on a sophisiticated rent vs buy analysis for large metros in the US: https://business.fau.edu/departments/finance/real-estate-in...
by runner540
Mon Apr 16, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage rate % when tax deferred should take back seat
Replies: 16
Views: 780

Re: Mortgage rate % when tax deferred should take back seat

At one point would mortgage rates have to reach for it to no longer be advantageous to instead prioritize tax advantaged investing? Similar questions have been asked a lot I know and I've used the search feature, but had trouble finding a simple scenario such as this -- 22% tax bracket, expect to e...
by runner540
Mon Apr 16, 2018 9:08 am
Forum: Investing - Theory, News & General
Topic: Angel investor breakfast
Replies: 19
Views: 2121

Re: Angel investor breakfast

I hope that after discussing his 30% annual returns, he had the good manners to pick up the check! :D Sounds like a full time job. And his Rate of return needs to include all the ones that went to $0. For every deal you see, you have to ask "why me?" You have to understand clearly the reasons why th...
by runner540
Sun Apr 15, 2018 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block software problem
Replies: 16
Views: 1342

Re: H&R Block software problem

Runner540 wrote: I am also using HR Block and my efile was rejected: the issue with spouse's AGI/PIN number. It has the correct amount for both of us on the HR block PDF form, and I used the same 5-digit numbers we had for 2016. Where did you see it in the web forms, and how did you access it to "o...
by runner540
Sun Apr 15, 2018 12:31 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block software problem
Replies: 16
Views: 1342

Re: H&R Block software problem

Had the following two problems that I want others to be aware of before filing: Your 2016 AGI: States the following: Since you filed with us last year, we've already entered this for you. The box indicated '0' so I thought my AGI amount was hidden, though I filed last year with H&R Block. Took me a...
by runner540
Sat Apr 14, 2018 8:04 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall advice
Replies: 3
Views: 758

Re: Windfall advice

Congrats on the bonus. #1 do you and spouse actually want and have time for a rental property? In the 24% bracket, you're making pretty good money, saving a lot and you have no debt, so there's no wrong answer in my opinion. #2. When I get bonuses, my ratios (after tax) are: Save/invest 80%, give 10...
by runner540
Fri Apr 13, 2018 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: Aren't we betting a bit too heavily on US stocks and bonds?
Replies: 34
Views: 2576

Re: Aren't we betting a bit too heavily on US stocks and bonds?

Compounding this issue is the fact that for most U.S.-based investors, their non-financial assets (home, human capital, language skills, social/professional network, etc.) are also heavily weighted toward the U.S.
by runner540
Wed Apr 11, 2018 10:20 pm
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Investing
Replies: 24
Views: 1793

Re: Emergency Fund Investing

Wow!All great suggestions!! I like the idea of the tiered approach and think that is something I will implement. Being new to investing, I didn’t realize u can have bonds with check writing abilities if needed. Thank you all for the information again, I need to tap into the resources offered here a...
by runner540
Sun Apr 08, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Structuring Newlywed Finances for Fairness and Less Arguments
Replies: 56
Views: 4337

Re: Structuring Newlywed Finances for Fairness and Less Arguments

If you're not going to have joint finances, equal spending money amounts seem fair, and $10k/year with your income doesn't seem out of line. But then you have to figure out what goes in that category, and what is a joint budget item...If your job requires expensive gear (say, special work boots or n...
by runner540
Sat Apr 07, 2018 5:06 pm
Forum: Investing - Help with Personal Investments
Topic: Evaluate financial situation - goal is to save
Replies: 17
Views: 839

Re: Evaluate financial situation - goal is to save

assuming FICA and Medicare taxes are not included in the $38k then $38k taxes on approx $150k AGI seems like a lot??? I feel the same too. I use hrblock, cant do down any. Something is not correct. You shouldn’t have $38k of federal income taxes on approx $150k of AGI. I would have expected roughly...
by runner540
Fri Apr 06, 2018 6:11 pm
Forum: Investing - Help with Personal Investments
Topic: How much mortgage to borrow?
Replies: 33
Views: 2035

Re: How much mortgage to borrow?

Monthly payment : $4940 Does this include taxes and insurance, or just principal and interest? Also, the typical rule of thumb is to budget 1-2% of home value for maintenance, that would be another ~$1500-3000 per month. This rule might not hold in a housing bubble where homes values are elevated. ...
by runner540
Wed Apr 04, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Financing Options for New Home
Replies: 11
Views: 825

Re: Financing Options for New Home

Not sure about your financing options but I'm impressed that you only pay $30K in income taxes on $310K income. I make about half what you do and pay more than $30K in income taxes. That jumped out to me as well. Perhaps OP can start a new thread. (2017 tax regime) $310k - 12k standard deduction 8k...
by runner540
Mon Apr 02, 2018 9:00 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6392
Views: 1370639

Re: U.S. stocks in freefall

Another day, another 500+ point, 2+% change on the Dow. This is getting pretty old.. It's increasingly clear we're in the early days of a bear market. To top it off, we just breached the 200 DMA on the S&P. Since just about everybody from your neighborhood cab driver to your elderly grandma knows a...
by runner540
Sun Feb 18, 2018 10:47 am
Forum: Investing - Help with Personal Investments
Topic: Sell me on the benefits of an emergency fund
Replies: 119
Views: 7255

Re: Sell me on the benefits of an emergency fund

Then it wasn't really your EF if you were investing it. :wink: chevca, not sure if you intended that comment as a response to mine but I'll clarify: My EF stayed in cash, where it was. It was not and has never been for investing. But since I already had that stashed, I was much more comfortable con...
by runner540
Sun Feb 18, 2018 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Sell me on the benefits of an emergency fund
Replies: 119
Views: 7255

Re: Sell me on the benefits of an emergency fund

Haven't seen this mentioned yet as a reason: A good-sized cash or cash equivalent emergency fund helped me pour more money each week into the markets in 2008 and 2009 and buy low. People got laid off every week, the markets fell every week, huge companies were going bankrupt... If I had not already ...
by runner540
Sat Feb 17, 2018 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 156
Views: 11433

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: 91
Views: 8094

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: 91
Views: 8094

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: 97
Views: 7378

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: 492

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: 97
Views: 7378

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: 968

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: 347

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: 97
Views: 7378

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: 2310

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: 80
Views: 9750

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: 97
Views: 7378

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: 97
Views: 7378

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: 565

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: 1979

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 6578

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: 980

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: 933

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: 517

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: 517

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: 6392
Views: 1370639

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: 817

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...