Search found 51 matches

by whattodonow
Fri Jun 23, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

Your car loan is at .9%, you can put 29k in an account at Ally and come out ahead. There is no reason to pay that off early while you still have PMI. You sure about the first quoted sentence? Does Ally pay more than inflation and taxes that beats a rate of 0.9% if your only two choices are to pay o...
by whattodonow
Fri Jun 23, 2017 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

BEFORE paying down mortgage to eliminate PMI, make 100% sure that this can be accomplished. I am not up on all the rules, but I am quite sure that some of this has changed in the last few years making it more stringent on eliminating PMI. It would be a shame if you paid a big lump sum - and it did ...
by whattodonow
Tue Jun 20, 2017 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

I'm a mix of person A and B I guess, in your above example, since I currently have enough asset to pay off car (it's 2017 by the way), but as already stated it's <1%. I'm also person B because I have a conventional mortgage with a flat fee PMI (mortgage is less than 3 years old), that has cost me a...
by whattodonow
Tue Jun 20, 2017 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

And there are ways to force the mental game of isolating the money so you don't think to spend it without resorting to making the financially suboptimal choice to pay down cheap debt (it matters not at all that the debt is secured by a depreciating asset, if anything that makes it a better deal bec...
by whattodonow
Mon Jun 19, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

Zillow has my house way under valued I believe. I checked Remax and Chase value estimators and those are near each other and close to the original market value of the house. I think the stringent rules mainly apply to FHA loans in regards to PMI payoff. We have a conventional loan with PMI. I pulle...
by whattodonow
Mon Jun 19, 2017 11:49 am
Forum: Personal Consumer Issues
Topic: Want to downsize, see "to do" list. What to tackle first?
Replies: 37
Views: 3363

Re: Want to downsize, see "to do" list. What to tackle first?

If I were selling, I'd remove popcorn ceilings, update master bath, and then utility, in that order.
Ignore carpet for now.
Is it obvious that windows don't open in bonus room? I would't pay to upgrade the windows unless you hear people ask about it.
by whattodonow
Mon Jun 19, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

Zillow has my house way under valued I believe. I checked Remax and Chase value estimators and those are near each other and close to the original market value of the house. I think the stringent rules mainly apply to FHA loans in regards to PMI payoff. We have a conventional loan with PMI. I pulled...
by whattodonow
Sun Jun 18, 2017 9:25 pm
Forum: Personal Consumer Issues
Topic: Office Chair
Replies: 15
Views: 1128

Re: Office Chair

have you looked into a standing desk? if you go that route, also look into more comfortable shoes.
by whattodonow
Sun Jun 18, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

Step 1 is to do a refinance. Get the best rate possible and put what is needed in to get to 80% L2V so you don't have to have PMI. If you have extra cash after this activity is complete, create a new post on bogleheads reflecting new situation. Goal33, putting 20% down for a refinance would require...
by whattodonow
Sun Jun 18, 2017 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Re: Auto Loan vs Mortgage

I would pay down to get rid of PMI asap and look into a refinance. I haven't checked rates recently but I think you can shave .75 off that loan for a 30 yr fixed. Your car loan is at .9%, you can put 29k in an account at Ally and come out ahead. There is no reason to pay that off early while you st...
by whattodonow
Sun Jun 18, 2017 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Loan vs Mortgage
Replies: 29
Views: 1896

Auto Loan vs Mortgage

Wife and I max out 401ks, IRAs, and 529 for the kid. We have a 6 month EF. Only debt is one auto loan (29k @ 0.9%) and a mortgage (248k @ 4.625%). I have PMI on the mortgage, it's a conventional 30 year loan (we're almost 3 years into the loan now). Original value on house was around $281k, not sure...
by whattodonow
Mon Nov 14, 2016 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Stay at home parent vs. Daycare (personal question)
Replies: 19
Views: 2439

Re: Stay at home parent vs. Daycare (personal question)

Holy cow, I'm impressed you can handle three kids at home.
Do you think they're getting the benefits a daycare would provide (socialization, learning, etc.) with you at home?
Would your stress levels go down or up with the new job?
by whattodonow
Fri Nov 11, 2016 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: CC Autopay
Replies: 19
Views: 1609

Re: CC Autopay

As far as I know the credit card number (the number on the card) is the account number. A debit card indeed does not have the same number as the checking account, and one can set autopay to the checking account number. It might be a good idea to use one credit card for regular online payments and a...
by whattodonow
Thu Nov 10, 2016 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: CC Autopay
Replies: 19
Views: 1609

Re: CC Autopay

So my question is, why don't companies have us use the CC account number instead of the CC number itself? How would that make a difference? Revealing the account number to various companies now makes that subject to theft, and instead of having to change the CC number you now have to change the acc...
by whattodonow
Thu Nov 10, 2016 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: CC Autopay
Replies: 19
Views: 1609

Re: CC Autopay

I think you misunderstood my post. The charges were declined automatically, so no issue. But to prevent further fraudulent charges, they cancelled the card and are sending me a new one. So I have to update all my bill pays with the new card number. The complaint is, why don't they use the credit ca...
by whattodonow
Thu Nov 10, 2016 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: CC Autopay
Replies: 19
Views: 1609

Re: CC Autopay

I think you misunderstood my post. The charges were declined automatically, so no issue. But to prevent further fraudulent charges, they cancelled the card and are sending me a new one. So I have to update all my bill pays with the new card number. The complaint is, why don't they use the credit car...
by whattodonow
Thu Nov 10, 2016 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: CC Autopay
Replies: 19
Views: 1609

CC Autopay

My CC recently had fraudulent activity on it so I had it closed and company is sending me a new one. Great. Of course, I pay all my bills using my CC to get the rewards (I pay off my CC each month). So I now have to go through the process of updating all of my bills to the new CC number. So my quest...
by whattodonow
Mon Nov 07, 2016 12:14 pm
Forum: Personal Consumer Issues
Topic: Amazon Echo
Replies: 88
Views: 11849

Re: Amazon Echo

Wait for black friday deals before you buy it. That's when I got mine last year.
by whattodonow
Thu Nov 03, 2016 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Is a non-deductible IRA more trouble than it's worth?
Replies: 20
Views: 1221

Re: Is a non-deductible IRA more trouble than it's worth?

I didn't see this mentioned, but what if original poster has a large amount in rollover IRA's from previous company(ies) 401k.

Isn't it the more money you have sitting in a rollover IRA, the less doing a backdoor ROTH makes sense?
by whattodonow
Thu Nov 03, 2016 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Is a non-deductible IRA more trouble than it's worth?
Replies: 20
Views: 1221

Re: Is a non-deductible IRA more trouble than it's worth?

So when the $5500 transfers from personal checking (or where ever it's kept) to the custodian of the non-deductible IRA, can you then do the conversion, or do you need to actually buy a fund first and then convert?
by whattodonow
Mon Oct 31, 2016 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Calc - Fixed Payoff Date
Replies: 8
Views: 555

Re: Mortgage Calc - Fixed Payoff Date

nordsteve wrote:I think this is what you're looking for:

http://www.mtgprofessor.com/calculators ... tor2c.html


bingo. thanks
by whattodonow
Mon Oct 31, 2016 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Calc - Fixed Payoff Date
Replies: 8
Views: 555

Re: Mortgage Calc - Fixed Payoff Date

I am not going to do your googling for you, but there probably is. Even if there isn't, you can still just type in all the relevant details into a normal mortgage calculator and input different additional payments until you get the payoff date you want They all appear to be as you've stated, keep e...
by whattodonow
Mon Oct 31, 2016 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Calc - Fixed Payoff Date
Replies: 8
Views: 555

Mortgage Calc - Fixed Payoff Date

Is there a mortgage calculator out there where I enter in how many years I want to payoff my mortgage, and it computes what the resulting extra principal payment required would be?
by whattodonow
Thu Oct 06, 2016 11:57 am
Forum: Personal Consumer Issues
Topic: Hurricane Matthew: Evacuation advice
Replies: 40
Views: 4734

Re: Hurricane Matthew: Evacuation advise

My relatives are staying put around the same location you are saying you are located (Lake Mary/Sanford/Deland area).
Are you in a hotel or at a house?

Typically there are shelters available in a lot of areas so you could look into that.
by whattodonow
Wed Oct 05, 2016 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: maxed 401k - employer match
Replies: 24
Views: 2480

Re: maxed 401k - employer match

OK- I stand corrected. Obviously, I didn't know about these after-tax contributions limits! :oops: If your plan allows this kind of contribution, it's a very nice feature. It's the most important thing I have read about on this forum. Followed by transfer bonuses. Earl I don't think I'm clear on wh...
by whattodonow
Tue Oct 04, 2016 11:30 am
Forum: Personal Finance (Not Investing)
Topic: maxed 401k - employer match
Replies: 24
Views: 2480

Re: maxed 401k - employer match

My advice is to keep contributing to your 401K regardless. Stay on track because contributing lowers your taxable income and builds wealth. Your match could stop or not, depending on your company. If you max out early your co. may "true up" later--after year end. If they don't true up the...
by whattodonow
Mon Oct 03, 2016 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: maxed 401k - employer match
Replies: 24
Views: 2480

Re: maxed 401k - employer match

Looks like they continue to match after the pre-tax 401k max is reached.

I wonder why they do this. What is the benefit to them to continue providing 'free' money ?
by whattodonow
Mon Oct 03, 2016 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: maxed 401k - employer match
Replies: 24
Views: 2480

maxed 401k - employer match

My wife has maxed her 401k for the year and we weren't paying attention so last pay check stub had the money going to after tax 401k contributions. If the company matches contributions, do they still do so after reaching the 401k contribution limit? Or is this dependent on the company? Obviously if ...
by whattodonow
Sun Sep 18, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving enough to retire comfortably? See my Excel model
Replies: 19
Views: 3560

Re: Am I saving enough to retire comfortably? See my Excel model

Do you have an emergency fund?
"Highly compensated at an unprofitable startup" sounds risky.
by whattodonow
Tue Sep 13, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Do I refi?
Replies: 7
Views: 599

Re: Do I refi?

Yes. Go to Zillow.com and look at their Refinance Rates. Choose "no fees, no points" in the filter and I'm seeing a 3.375% rate with $1587 lender credit. That means when you close on your new loan, you'll have to pay to fund your escrow account, but the rest of the fees (title insurance, ...
by whattodonow
Mon Sep 12, 2016 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Bill Pay
Replies: 8
Views: 904

Lump Sum Bill Pay

Wasn't sure how to title the subject, but I'm curious on people's thoughts regarding paying bills in full for the year to gain the X% discount that is typically offered. Two examples of where I can do this personally are with my auto insurance and my pest control. Does anyone treat this similar to p...
by whattodonow
Thu Aug 18, 2016 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: 31 year old - career change
Replies: 2
Views: 817

31 year old - career change

I work in the oil and gas industry as an engineer in a somewhat specialized field. As you all probably know the industry is very cyclical and it's definitely in a rough patch at the moment. So far I've been able to hold onto my job, but I'm wondering what I would need to do to consider a career chan...
by whattodonow
Sat Aug 13, 2016 10:07 am
Forum: Personal Consumer Issues
Topic: Building a Pool
Replies: 44
Views: 3574

Re: Building a Pool

Do you have a lot of trees? Will it be screened in? Is that included in the cost?
by whattodonow
Sat Aug 13, 2016 9:57 am
Forum: Investing - Help with Personal Investments
Topic: Taxable account or non-deductible tIRA? [Discontinue nondeductible contributions?]
Replies: 40
Views: 1510

Re: Taxable account or non-deductible tIRA?

If you contribute the max allowable to a tIRA, of which all is non-deductible due to income limiting ROTH or deductible, form 8606 is pretty straight forward right? If I have a rollover IRA from a previous employer 401k (which I have contributed nothing to since rolling over), wouldn't none of that ...
by whattodonow
Fri Aug 12, 2016 3:38 pm
Forum: Investing - Theory, News & General
Topic: Anyone else noticing the economy improving?
Replies: 78
Views: 5779

Re: Anyone else noticing the economy improving?

With the exception of Houston, perhaps, High Cost of Living cities/ The problem is there are jobs, but they don't pay the wages which will pay the rents of those places? The problem with Houston (and why I didn't take a job I was offered there) is that unless you can afford a $500,000+ house, are O...
by whattodonow
Thu Aug 11, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: okay to leave deposit on vehicle?
Replies: 30
Views: 2384

Re: okay to leave deposit on vehicle?

I recently test drove a vehicle, then got the lowest price confirmed for the vehicle via email. The salesman wanted us to confirm via writing that we would purchase, so they could hold the vehicle, i.e. not allow anyone else to buy it. Unfortunately, we didn't confirm quickly enough and someone came...
by whattodonow
Wed Aug 03, 2016 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Non-deductible tIRA
Replies: 6
Views: 393

Re: Non-deductible tIRA

Two separate issues: 2) I love my REIT fund, but they throw off a lot of dividends, so having that in a tax-advantaged account (either a Roth, or an IRA) is a good idea. Schwab and Wiki kind of saying the same thing here. The Wiki states "Tax inefficient investments such as REIT and bond funds...
by whattodonow
Wed Aug 03, 2016 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Non-deductible tIRA
Replies: 6
Views: 393

Non-deductible tIRA

I max out 401k, and make too much for deductible IRA contributions. So I have a few questions on non-deductible tIRAs. I just contributed at the beginning of this year to a IRA through Vanguard, putting $5500 for this year and last year, each. These were non-deductible per my situation noted above. ...
by whattodonow
Sun Jul 24, 2016 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Rules of Thumb: Max House Value as % of Net Worth?
Replies: 109
Views: 12729

Re: Rules of Thumb: Max House Value as % of Net Worth?

Financial Samurai has a number of posts regarding net worth by age.
Search 'The Average Net Worth For The Above Average Person'
by whattodonow
Sun Jul 24, 2016 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Where should the money go
Replies: 4
Views: 628

Where should the money go

After posting a question on 401k contributions versus paying down a mortgage to refinance, I figured I'd create a separate post to ask about my overall plan to see if it makes sense. Stats: Early 30s, married, 1 infant My salary: $105k (we both just recently started making this kind of money, so not...
by whattodonow
Wed Jul 20, 2016 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Joint Term Life Insurance
Replies: 12
Views: 994

Re: Joint Term Life Insurance

Ideally, I would like to be able to buy a "last to die" policy between myself and my spouse. We each make enough money to comfortably support our (soon to be born) child, so we don't really need life insurance for either of us individually (and we both have free small policies from our wo...
by whattodonow
Tue Jul 19, 2016 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Term Life Insurance
Replies: 12
Views: 994

Re: Joint Term Life Insurance

Do joint term life insurance policies exist? Wife and I make similar salary and we just had a kid. We both have insurance through work, but looking at getting a term life policy outside of work. Does it make sense to get joint term? It's not clear what you're trying to accomplish. Pay out at either...
by whattodonow
Tue Jul 19, 2016 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Joint Term Life Insurance
Replies: 12
Views: 994

Joint Term Life Insurance

Do joint term life insurance policies exist? Wife and I make similar salary and we just had a kid. We both have insurance through work, but looking at getting a term life policy outside of work. Does it make sense to get joint term?
by whattodonow
Mon Jul 18, 2016 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: mortgage vs investing
Replies: 43
Views: 2199

Re: mortgage vs investing

Why not first refinance to get the rate down on the mortgage? Maybe a 5/1 ARM.
by whattodonow
Fri Jul 15, 2016 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Celebrating (negative) net worth milestone
Replies: 6
Views: 1110

Re: Celebrating (negative) net worth milestone

You should have a moderately priced drink, to celebrate!
by whattodonow
Fri Jul 15, 2016 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: 401k vs mortgage
Replies: 26
Views: 2539

Re: 401k vs mortgage

I guess a question I should have asked originally, can I refinance if I'm not at 80% LTV?
Or does that depend on the lender?

If I can, then I would just attempt to do that, get lower rate, still have PMI, but pay aggressively to get to 80% LTV after the refinance.
by whattodonow
Thu Jul 14, 2016 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Another "should I refinance" thread
Replies: 11
Views: 960

Re: Another "should I refinance" thread

ARMs aren't that scary. As you near the end of the adjustable period, just refinance again.
by whattodonow
Wed Jul 13, 2016 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Car Buying Dilemma
Replies: 53
Views: 5118

Re: Car Buying Dilemma

How did you get around during college?
by whattodonow
Wed Jul 13, 2016 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: 401k vs mortgage
Replies: 26
Views: 2539

Re: 401k vs mortgage

There doesn't happen to be a calculator of some sort that can do the math for me is there? I have to figure out what my new take home pay would be after taxes, etc. with the new 401k contribution percentage. Calculating the amount I need to get the mortgage down, to meet the LTV number is straight f...
by whattodonow
Wed Jul 13, 2016 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: 401k vs mortgage
Replies: 26
Views: 2539

Re: 401k vs mortgage

If your only savings was to get the employer match on your 401(k)'s, how long would it take you to get down to an 80% loan to value? Remember that it needs to be 80% of current value, not purchase price. Has the property risen in value? The property has fluctuated around the purchase price, not mov...

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