Search found 77 matches

by sighchological
Mon Nov 09, 2015 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

thanks!

Is it wise to purchase $300K from my wife's employer or should I just purchase a $300K, 30 year from a life insurance company?
by sighchological
Sat Nov 07, 2015 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

Wow thanks for SO much advice and help. Honestly I am quite overwhelmed as there are many different opinions! After thinking things through I think that currently I want to go with the least amount of insurance possible, since I don't have kids yet; just want to have up to 3 of them in the future. I...
by sighchological
Wed Oct 14, 2015 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

Thanks everyone for the help. Out of all the responses: - 6 said to wait for kids. - 1 said to purchase $1M per kid up to $2.5M max for the primary wage earner. (did not say 20 or 30 years) - 1 said to consider at least $750k for you and $1.5 M for your wife. (did not say 20 or 30 years) - 1 said to...
by sighchological
Mon Oct 05, 2015 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

Thank you jack, well I am dependent on my wife's salary, if she was to pass I would be unable to pay all the bills. Pondering, what do you mean by "I would be very surprised if someone with those financials had that much insurance." Well, for 30 years level term guaranteed, A+ rating it wo...
by sighchological
Mon Oct 05, 2015 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

Thanks for helping everyone. If my wife passed away after 3 years, I would be in trouble. I would receive $105K from her employer's life insurance, have $61K in debt while making net $34K a year. Would you really suggest to wait until having kids to purchase life insurance? Yes, my wife has long ter...
by sighchological
Sat Sep 26, 2015 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

I'm likely going to purchase:

Wife: $1 million
Me: $500 - $700K

Do you suggest 20 or 30 year?

thanks!
by sighchological
Sat Sep 26, 2015 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

thanks so much for your help !
by sighchological
Sat Sep 19, 2015 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Re: Age 29 & married, how much life insurance?

Thanks for the help everyone! Rule of thumb is 10x gross salary per individual payable to other spouse. Wife: $1 million Me: $500 - $700K More detailed approach: Expenses to be covered by life insurance: 1) Sum of mortgage debt outstanding: $170K 2) Daycare expenses from age 0 to age 5.5 when school...
by sighchological
Fri Sep 18, 2015 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29 & married, how much life insurance?
Replies: 46
Views: 5655

Age 29 & married, how much life insurance?

Hello, I’m thinking of purchasing either a 20 or 30 year term life insurance plan. I don’t have any kids but will start trying to (3 max) in 1 yeas. Any help would be appreciated. Annual net income: Me (Age 29): $34K Wife(Age 28): $67K Total annual income: $101K My mortgage is currently $172K, 30 ye...
by sighchological
Thu Feb 05, 2015 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: Advice? 1 yr w/ TIAA-CREF and 457B
Replies: 7
Views: 522

Re: Advice? 1 yr w/ TIAA-CREF and 457B

any other suggestions? thanks!
by sighchological
Tue Jan 27, 2015 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: Advice? 1 yr w/ TIAA-CREF and 457B
Replies: 7
Views: 522

Re: Advice? 1 yr w/ TIAA-CREF and 457B

Aptenodytes,

Honestly, I did not think about a target AA that applies to our joint portfolios. I thought that since we were the same age we have the same AA, approx. 75% stocks/25% bonds.

What would you suggest?
by sighchological
Tue Jan 27, 2015 12:03 pm
Forum: Investing - Help with Personal Investments
Topic: Advice? 1 yr w/ TIAA-CREF and 457B
Replies: 7
Views: 522

Re: Advice? 1 yr w/ TIAA-CREF and 457B

Thank you Valuethinker! Could you elaborate upon "When you get to about 35 or 40 you want to think about whether you want such a high equity weighting going forward. I would consider adding TIPS at that point."? I don't know anything about TIPS besides what I just saw on Wiki. Where do I p...
by sighchological
Tue Jan 27, 2015 11:47 am
Forum: Investing - Help with Personal Investments
Topic: Advice? 1 yr w/ TIAA-CREF and 457B
Replies: 7
Views: 522

Re: Advice? 1 yr w/ TIAA-CREF and 457B

Thank you Aptenodytes! 1) I'm not sure what you mean by "I presume you would have told us if this allocation is different than what you started with"? 2) I deleted the returns - why are they dangerous? 3) I included my account. 4) I believe we are in the 25% tax bracket. 5) The TIAA Tradit...
by sighchological
Tue Jan 27, 2015 11:17 am
Forum: Investing - Help with Personal Investments
Topic: Advice? 1 yr w/ TIAA-CREF and 457B
Replies: 7
Views: 522

Advice? 1 yr w/ TIAA-CREF and 457B

Hello, A year ago, Bogleheads helped me select a portfolio for my wife through TIAA-CREF, and for me through my 457B plan. I just wanted to see if I was doing everything right. Any suggestions/recommendations would be greatly appreciated. Wife's Age: 27 Salary: Approx. $105K annually; 5% contributio...
by sighchological
Tue Jan 27, 2015 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Recommendations for online bank?
Replies: 25
Views: 3933

Re: Recommendations for online bank?

I had no clue there were so many responses. Thanks everyone for your help :)
by sighchological
Thu Nov 20, 2014 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Recommendations for online bank?
Replies: 25
Views: 3933

Recommendations for online bank?

Hello, I’m looking for a good online bank to replace my brick and mortar savings/checking account. The online bank would act as a central hub to all our liquid incoming and outgoing funds where: 1) Mortgage and Home Equity Loans would be automatically paid a. Bi weekly principal payments could be tr...
by sighchological
Wed Nov 19, 2014 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Age 28, Short Term/Intermediate Term Financial Plan?
Replies: 11
Views: 1962

Re: Age 28, Short Term/Intermediate Term Financial Plan?

Thanks for the help! So I should: 1) Establish emergency fund 2) Max out 457 b and 403 b 3) Pay down Home Equity Loan 4) Pay down mortgage If I do this, I’ll be stuck with the Home Equity Loan for X amount of years. To increase cash flow, would it be more conservative to: 1) Establish emergency fund...
by sighchological
Mon Nov 17, 2014 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Age 28, Short Term/Intermediate Term Financial Plan?
Replies: 11
Views: 1962

Re: Age 28, Short Term/Intermediate Term Financial Plan?

Thank you for the replies. Some questions: 1) In how many years would you start contributing to the 457b or 403b? 2) In response to maxing out the 403b /457 before paying down the mortgage: What if I face a financial emergency and am unable to pay for my mortgage? I thought that paying down the guar...
by sighchological
Sat Nov 15, 2014 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Age 28, Short Term/Intermediate Term Financial Plan?
Replies: 11
Views: 1962

Re: Age 28, Short Term/Intermediate Term Financial Plan?

Thanks for the replies everyone! Personal Loan 1-3 has no interest involved; just loans that I owe friends/family. In response to "splitting the difference between mortgage and retirement savings." 11K a year is currently being contributed towards my wife's 403b plan and 4 years from now, ...
by sighchological
Sat Nov 15, 2014 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Age 28, Short Term/Intermediate Term Financial Plan?
Replies: 11
Views: 1962

Age 28, Short Term/Intermediate Term Financial Plan?

It’s been over a year after I visited Bogleheads, and made several important financial decisions with the help of this forum. Recently I realized that I didn’t make any short term or intermediate term goals. Any help would be greatly appreciated! Fixed expenses per month: Personal Loan 1 (expires in...
by sighchological
Sat May 17, 2014 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: How much auto insurance coverage?
Replies: 5
Views: 596

Re: How much auto insurance coverage?

thanks! any other suggestions?
by sighchological
Sat May 17, 2014 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: How much auto insurance coverage?
Replies: 5
Views: 596

How much auto insurance coverage?

Hello, I'm about to purchase auto insurance in New York for my wife and I. Any help would be greatly appreciated. I'm 27, she's 26. Assets: Equity of $124K in a house worth $300K. We both have good health insurance plans. I have a 1999 honda civic with 93K miles. Bluebook value is $3K My wife has a ...
by sighchological
Fri May 09, 2014 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Confused at an easy loan concept
Replies: 11
Views: 1452

Re: Confused at an easy loan concept

thanks guys for clarifying this for me!
by sighchological
Fri May 09, 2014 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

thank you guys very much for your help
by sighchological
Sat May 03, 2014 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Confused at an easy loan concept
Replies: 11
Views: 1452

Confused at an easy loan concept

This should be a really easy and fundamental question. But I can't figure it out. I don't understand how to pay off a higher interest loan with a lower interest loan. For example, If I get an auto loan, I receive a lump sum from a lender at a certain interest rate. That lump sum is supposed to be us...
by sighchological
Tue Apr 29, 2014 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

any other thoughts?
by sighchological
Mon Apr 28, 2014 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

thanks ripete. I appreciate your honesty. When you say "what if the investments go sour" what do you mean? If I stay with my student loans I still have to pay them back regardless. And I'll be putting extra on the principle. So if I replace them with a lower rate interest how would that ga...
by sighchological
Mon Apr 28, 2014 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

Thanks everyone for the help. I'm thinking of choosing the 5 year, 2.99 Home Equity Line from PennFed since it will be $844.32 per month. If I put an extra $700 a month I could pay it off in 32 months and would pay $1,938.88 in interest. As for the $12K car, I'm thinking of paying it in cash to elim...
by sighchological
Sat Apr 26, 2014 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HEL to replace student loan (revised)

Thanks for clarifying that! It makes a lot of sense to eliminate the risk of losing my house. The reason I would take out the HEL is b/c I would save money on interest. I really don’t think I could pay off the student loans in 2 years and I thought taking out a 5 year HEL wouldn’t be too risky.. I t...
by sighchological
Sat Apr 26, 2014 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

Yes, the HELOC is variable, but the Home Equity Loan isn’t variable, and it’s fixed at 3.99% APR for 121-180 months. I believe both the HELOC and HEL are secured loans. So, you’re saying, that since the HELOC and HEL are secured loans that puts a lien on my house, I shouldn’t take that risk? This is...
by sighchological
Sat Apr 26, 2014 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

HEL to replace student loan (revised)

[Thread merged with the original, see below. --admin LadyGeek] Hello all, A question: Any help would be appreciated :) Some financial facts: - I have a $175K mortgage at 4% fixed - I have a $47K student loan at 6.55% - I'm planning to purchase a $12K car in June. - My combined salary w/ my wife is ...
by sighchological
Sat Apr 26, 2014 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

Thank you everyone for your responses. It helped me to explore different options. Robertalpert, thank you for your comment. I agree that it's not good to risk the house. But regardless, I still have to pay the student loans. What if I replaced the student loans with a loan that had a lower interest ...
by sighchological
Sat Apr 19, 2014 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

I'm kind of confused :? Is my logic correct? I apologize in advance for any mathematical errors. If my $50K student loan at 6.55% is replaced by the $50K 2.24%APR HELOC, (which becomes variable 3.25% APR afterwards) , how would I compare the amount saved? --------------------------------------------...
by sighchological
Sat Apr 19, 2014 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

Re: HELOC to pay off student loans?

Thanks Twins Fan.

As for the HELOC, there is no closing costs for my bank (Bethpage Federal Credit Union)

I would be scared to not pay off the HELOC early, since the 3.25 APR is variable.
by sighchological
Sat Apr 19, 2014 11:43 am
Forum: Personal Finance (Not Investing)
Topic: HELOC to pay off student loans?
Replies: 33
Views: 5811

HELOC to pay off student loans?

Hello all, Quick question: Any help would be appreciated :) Some financial facts: - I have a $175K mortgage at 4% fixed - I have a $53K student loan at 6.55% - I'm planning to purchase a $12K car in June. - My combined salary w/ my wife is $155K. - I have around $20K in savings. --------------------...
by sighchological
Sat Apr 19, 2014 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Help on Auto Loan vs. Student loan/Mortgage
Replies: 8
Views: 701

Re: Help on Auto Loan vs. Student loan/Mortgage

Twins fan:

I was planning on just paying min on the lower rate auto loans until the loan ended and use the saved interest to pay off the higher interest student loans... thanks for the advice :)
by sighchological
Sat Apr 19, 2014 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Help on Auto Loan vs. Student loan/Mortgage
Replies: 8
Views: 701

Re: Help on Auto Loan vs. Student loan/Mortgage

Thanks for everything guys! it definitely gave me a lot to think about.
by sighchological
Sat Apr 12, 2014 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help on Auto Loan vs. Student loan/Mortgage
Replies: 8
Views: 701

Re: Help on Auto Loan vs. Student loan/Mortgage

Twins fan, Sorry, I know I cannot pay off my student loans, i mean pay (part) of them off :) I mean I would get a $12K used auto loan at 2.49% for 60 mths from PenFed. Pen Fed would write me a check for $12K and I would use that $12K check to pay off my student loans. Did I make a mistake in assumin...
by sighchological
Sat Apr 12, 2014 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Help on Auto Loan vs. Student loan/Mortgage
Replies: 8
Views: 701

Help on Auto Loan vs. Student loan/Mortgage

Hello all, Just want to see if my financial decision making is rational. Any help would be appreciated :) Some financial facts: - I have a $175K mortgage at 4% fixed - I have a $53K student loan at 6.55% My combined salary w/ my wife is $155K. I am planning to purchase a lease buyout for a 2010 Hond...
by sighchological
Fri Dec 06, 2013 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans or car lease?
Replies: 10
Views: 638

Re: Pay student loans or car lease?

Thanks everyone for the help. According to NADA, the value of the car is around 14K. There's only around 20K miles driven on it. On 6/7/13, she would have to pay around $12k to purchase the car at the end of the term.. One of the main reasons why I would like to purchase the car is b/c we know she t...
by sighchological
Thu Dec 05, 2013 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans or car lease?
Replies: 10
Views: 638

Re: Pay student loans or car lease?

her parents leased it for her 3 years ago and she's stuck with it...

I just found out that the lease is now extended til 6/7/14 (sorry just corrected it )and there will be a purchase option of around 12K.

If she has put in more than $6k, and it's in good condition, should she really let it go?
by sighchological
Thu Dec 05, 2013 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans or car lease?
Replies: 10
Views: 638

Re: Pay student loans or car lease?

how would i figure out the percent?

I do know that the monthly payments are $182.50 but that's all...i would have to figure in the rent charge, sales tax, etc.
by sighchological
Thu Dec 05, 2013 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans or car lease?
Replies: 10
Views: 638

Pay student loans or car lease?

Hello all, I'm trying to help my fiancee decide on whether to target paying her student loans or for her to save up to pay off the residual value of her 2010 honda accord. Her lease looks like this: -amount paid at lease signing on 6/7/2010 = $2635.67 -gross capitalized cost = $19206.98 -capitalized...
by sighchological
Thu Sep 12, 2013 10:58 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF question
Replies: 11
Views: 1562

Re: TIAA-CREF question

Thanks Everyone! :) ---- Yes, Fidelity does have various Spartan funds, including index funds To make it easier to read do you want me to take away the "Benchmark" part, too? Or just the numbers? ----- I want to keep it simple, so I'll try to follow something like: "3 fund portfolio w...
by sighchological
Wed Sep 11, 2013 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA-CREF question
Replies: 11
Views: 1562

TIAA-CREF question

Hello all, I'm still very new to investing. My fiancee just started teaching at an university, and they are matching 5% for TIAA-CREF or Fidelity. I'm choosing the funds for her. I chose TIAA-CREF simply because I saw that there was a Vanguard 500 Index Fund. After some research on this forum, I saw...
by sighchological
Sat Aug 17, 2013 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Financial dilemma [Fiancee to Cosign HELOC]
Replies: 40
Views: 4156

Re: Financial dilemma [Fiancee to Cosign HELOC]

Thanks for the responses The $15K will most likely be paid back in full or more - it's common for relatives/friends in my culture to give generously. My fiancee is not going to co sign for the HELOC anymore. But we're planning on paying off the $40 - $45K loan interest free for the next 5 years. Yes...
by sighchological
Wed Aug 14, 2013 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Financial dilemma [Fiancee to Cosign HELOC]
Replies: 40
Views: 4156

Re: Financial dilemma [Fiancee to Cosign HELOC]

Thanks for the responses.

Unfortunately, we have no way around my FIL's renovations.. the workers are already working on the house..

But the good thing is that my fiancee is very frugal.. and she's ready to be saving up every penny before we're debt free..
by sighchological
Fri Aug 09, 2013 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Financial dilemma [Fiancee to Cosign HELOC]
Replies: 40
Views: 4156

Re: Financial dilemma [Fiancee to Cosign HELOC]

I'm sorry I did not mention the dowry, I thought that I should just stick to the numbers. Well... I am not even thinking of kids at this point... but my fiancee does want to start trying to have kids 2 years after we get married.. she's 26 right now and I'm a little concerned for her health so I sho...
by sighchological
Thu Aug 08, 2013 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Financial dilemma [Fiancee to Cosign HELOC]
Replies: 40
Views: 4156

Re: Financial dilemma [Fiancee to Cosign HELOC]

In some cultures the dowry is the male side, some the female side. thanks for the humor, James :happy .. guess I need to laugh once in a while But even if I had a daughter..I would not want to put her future husband in the predicament I am in now Thanks rayjames for your caution.. I really appreciat...

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