Search found 15 matches

by Kdots
Sat Feb 24, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Home Equity loan to pay off balloon loan?
Replies: 15
Views: 672

Re: Mortgage or Home Equity loan to pay off balloon loan?

One more concern I thought of is that when you Mom is no longer able to work at the business then what will happen to the business? If they have to hire someone to do the work she is doing then that persons salary that might eat up most of the income that they are getting from the business. Is ther...
by Kdots
Sat Feb 24, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Home Equity loan to pay off balloon loan?
Replies: 15
Views: 672

Re: Mortgage or Home Equity loan to pay off balloon loan?

I spoke with a loan officer today about a HE loan. He suggested taking a 20yr loan at 5.3%, but pay the $2500/month not the $900. No closing costs. Interest not tax-deductible? I didn't follow the numbers and don't really understand how they could make that payment with the business income and two ...
by Kdots
Sat Feb 24, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Home Equity loan to pay off balloon loan?
Replies: 15
Views: 672

Re: Mortgage or Home Equity loan to pay off balloon loan?

That was my first thought too, how could they possibly be comfortable with a $2500/month payment??? What about a plain old 30 year fixed mortgage? That gives them the lowest monthly payment, and having a mortgage in their 70's, it doesn't seem they're concerned with a paid off home, so... I doubt t...
by Kdots
Sat Feb 24, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Home Equity loan to pay off balloon loan?
Replies: 15
Views: 672

Re: Mortgage or Home Equity loan to pay off balloon loan?

Is this a loan on the house? How are they going to pay 2500/month out of 2600/month SS and 5-10k/quarter at their age for 20 years? Why not sell the house and move to a smaller place? Thanks for your response. Yes, the loan is on the house. The $2500 payment would pay off the loan in about 6 years,...
by Kdots
Sat Feb 24, 2018 12:46 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Home Equity loan to pay off balloon loan?
Replies: 15
Views: 672

Mortgage or Home Equity loan to pay off balloon loan?

I recently discovered that my parents (76 and 79 yrs old) have a balloon loan with a current balance of $137,000. Final payment of $129,000 due 3/1/19. Would you recommend a Mortgage refinance or Home Equity loan? The house last appraised at $350,000 - 4 yrs ago. They have since done some work on th...
by Kdots
Mon Feb 05, 2018 11:04 pm
Forum: Investing - Help with Personal Investments
Topic: Stay the course? Edited to Staying the course!
Replies: 22
Views: 2462

Re: Stay the course?

Advice, please- Finally invested part of my non-retirement saving in the market 2 weeks ago. I know that the general advice is to try to avoid market timing and play the long game. But now I am at a loss of what to do. Do nothing! Stop watching the 24 hour news cycle, it is toxic to your mental hea...
by Kdots
Mon Feb 05, 2018 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio/allocation review, please.
Replies: 1
Views: 183

Portfolio/allocation review, please.

So grateful for this here forum. Alright, now that you've all talked me down and reminded me to stay the course- May I have some suggestions on allocation, suggested funds, please? Or heck, what are the questions I should be asking? Thank you! Emergency funds: not in separate fund Money Market: $32,...
by Kdots
Mon Feb 05, 2018 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: Stay the course? Edited to Staying the course!
Replies: 22
Views: 2462

Re: Stay the course?

Thank you, all! I needed to hear that. The news makes everything out to be so sensational and dramatic.
First time jitters here. Just another reminder to avoid the news.

Thank you!
Feeling better.
:sharebeer

(not sure how to thank everyone, only how to quote...)
by Kdots
Mon Feb 05, 2018 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: Stay the course? Edited to Staying the course!
Replies: 22
Views: 2462

Stay the course? Edited to Staying the course!

Advice, please- Finally invested part of my non-retirement saving in the market 2 weeks ago. I know that the general advice is to try to avoid market timing and play the long game. But now I am at a loss of what to do. I invested $10,000 into VTSAX and $8000 into VGTSX. I am a total newbie and like ...
by Kdots
Fri Oct 06, 2017 9:07 am
Forum: Investing - Help with Personal Investments
Topic: Where should I put my money?
Replies: 15
Views: 1958

Re: Where should I put my money?

You are at a good age to begin purchasing Series I Savings Bonds, but you are limited to $10K/year in purchases from Treasury Direct plus $5000 from your Federal income tax refund. They are liquid after one year, never lose principle, state and local tax free, and you can defer federal taxes for up...
by Kdots
Fri Oct 06, 2017 8:36 am
Forum: Investing - Help with Personal Investments
Topic: Where should I put my money?
Replies: 15
Views: 1958

Re: Where should I put my money?

"Money Market: $52,000 at 1.2% , contributing $1300/mo. Debt: $107,000 mortgage at 3.625 " Mortgage :happy Thank you for your response! Mortgage is shared with someone who cannot contribute more and I would prefer to keep things as equal as possible. House is not a forever home and will probably be...
by Kdots
Fri Oct 06, 2017 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Where should I put my money?
Replies: 15
Views: 1958

Re: Where should I put my money?

Are you a W-2 employee or a 1099 contractor? If you're a contractor, you are your employer, so you can set up your own retirement plan and contribute up to the legal limits of the plan you choose. If it means draining savings to do so, well, the money is better off tax-protected. Otherwise, it's a ...
by Kdots
Fri Oct 06, 2017 12:43 am
Forum: Investing - Help with Personal Investments
Topic: Where should I put my money?
Replies: 15
Views: 1958

Where should I put my money?

Emergency funds: not in separate fund Money Market: $52,000 at 1.2%, contributing $1300/mo. Debt: $107,000 mortgage at 3.625 (co-owned/co-borrower, not interested in paying down) Tax Filing Status: Single Tax Rate: 15% Federal, 6% State Income: $42,800 State of Residence: MO Age: 36 Roth IRA : $10,0...
by Kdots
Fri Aug 07, 2015 10:04 pm
Forum: Investing - Help with Personal Investments
Topic: Where to start?
Replies: 4
Views: 510

Re: Where to start?

Thank you, Fallible and LAlearning. It seems I jumped the gun on posting. I will do more research and edit post when I have more information. LAlearning, no workplace retirement, only partial proceeds from the sale of the business. I will move rIRA to Vanguard, leaning toward LifeStrategy Moderate G...
by Kdots
Fri Aug 07, 2015 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Where to start?
Replies: 4
Views: 510

Where to start?

Hi! I am new to all of this and feel a need to have my money working more than it is. I have been researching Vanguard and I am just not sure where to start. So I look to all of you for advice, thank you. Age - 34 Savings -$36,575, 0.75% Roth IRA - $3,849, 0.75% (Both at Capital one 360) Debt - Mort...