Search found 363 matches

by rocket354
Sun Apr 19, 2020 11:15 am
Forum: Personal Investments
Topic: Different Spin on the question of "Should I pay of the house or Invest.."
Replies: 73
Views: 4548

Re: Different Spin on the question of "Should I pay of the house or Invest.."

For any "Mortgage vs Invest" question, the term of the mortgage usually does not much matter in terms of calculating which one leaves you with more money at the end. The only thing that matters is your assumption about what the return will be from investing. If your post-tax-considerations mortgage ...
by rocket354
Sun Mar 22, 2020 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Upside down car: advice [car loan]
Replies: 57
Views: 2918

Re: Upside down car: advice

Focusing solely on the car: It is not a $55k car. It is a $15k car. Maybe an $18k car if we take its private-party value. Using that higher figure, he's in the hole $12k no matter what. He will owe that no matter what he does with his car. That amount is a separate issue. Presumably, due to his job,...
by rocket354
Wed Mar 18, 2020 11:53 am
Forum: Investing - Theory, News & General
Topic: Who's buying today? where's all the "dry powder" folks at? :)
Replies: 514
Views: 50158

Re: Who's buying today? where's all the "dry powder" folks at? :)

In addition to my regular bi-weekly contributions to 401(k)/HSA, I had some money sitting in a money market account waiting to be used later this summer. Well...

Today I just bought a slug of VTSAX, and (ducking) a small bit of crypto.

Time will tell if I timed correctly.
by rocket354
Mon Mar 09, 2020 1:43 pm
Forum: Investing - Theory, News & General
Topic: Are any early accumulators thankful for the current correction?
Replies: 185
Views: 10205

Re: Are any early accumulators thankful for the current correction?

Thankful might be a little strong of a word. Especially since I front-loaded my 401(k) contributions this year, and had my annual bonus come through Feb 19 which immediately went into index funds. But I'm very aware that for periodic investors, it's not just where the market ends up, it's also how i...
by rocket354
Tue Mar 03, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?
Replies: 28
Views: 2122

Re: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?

Not to hijack, but I am in a similar situation. We're 4 years in with approximately $315k remaining on a 30 year at 3.50%. We're currently investing extra money in a taxable account. Around $1,200/month. Here are my refinance options: 15 year at 3.0% with $4k closing costs. Monthly payment would in...
by rocket354
Sun Mar 01, 2020 6:57 pm
Forum: Investing - Theory, News & General
Topic: Where My 100% Equities Peeps At?!?
Replies: 211
Views: 20900

Re: Where My 100% Equities Peeps At?!?

I'm not sure anyone is technically 100% equities unless they don't even have a dollar in their wallet. I have some money in a checking account and a couple investment properties, and a teensy bit of crypto. But of my allocation that is split between stocks and bonds, I'm 100/0 (and 100% of my IRA/40...
by rocket354
Sat Feb 29, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: When it may be better NOT to pay additional principal on debt
Replies: 26
Views: 1517

Re: When it may be better NOT to pay additional principal on debt

Er, he's paying 12% on money that's earning him minimal in a bank account. All other considerations are just red herrings. He's losing money hand over fist. The only reason to keep money in a bank account rather than paying off the loan is if he has no other cash and so needs an emergency fund of so...
by rocket354
Tue Feb 25, 2020 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Just watching the 10 yr treasury yield goes all time low... We are in the middle of refinance with LenderFi as well, about 1 week in. Wondering if it is worthwhile to see if the rate can be lowered. Any experience with this from the group? Can we starting the whole process again mid-stream? I tried...
by rocket354
Sun Feb 16, 2020 11:11 pm
Forum: Personal Consumer Issues
Topic: Anyone watch the Amazon series “The Expanse”?
Replies: 50
Views: 5493

Re: Anyone watch the Amazon series “The Expanse”?

I'm a fan of a lot of science fiction, but I never really understood this show, and stuck with it just hoping it would get more interesting. It felt like they didn't know what kind of show they wanted it to be, and it rapidly moved back and forth from being a generic science fiction show to being a...
by rocket354
Wed Feb 12, 2020 5:26 pm
Forum: Personal Investments
Topic: Invest or pay extra on mortgage principal?
Replies: 44
Views: 2911

Re: Invest or pay extra on mortgage principal?

We're looking at refinancing our mortgage from 3.75% to 3.25% (30-yr fixed, $510k balance). This will be a savings of $272/month. In my situation, would you continue paying that $272 as extra principal payments each month (to pay off the mortgage several years early and thus reap savings that way),...
by rocket354
Sun Feb 09, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?
Replies: 28
Views: 2122

Re: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?

1) Ok. 15-year saves you 0.5% per year, which is $1575 the first year and going down from there. But your payback is likely approximately 3 years and after that you are in the black. But only choose this if you feel comfortable with your ability to make your +$654 mortgage payment every month for t...
by rocket354
Sun Feb 09, 2020 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?
Replies: 28
Views: 2122

Re: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?

Not to hijack, but I am in a similar situation. We're 4 years in with approximately $315k remaining on a 30 year at 3.50%. We're currently investing extra money in a taxable account. Around $1,200/month. Here are my refinance options: 15 year at 3.0% with $4k closing costs. Monthly payment would in...
by rocket354
Sun Feb 09, 2020 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?
Replies: 28
Views: 2122

Re: Refinance (20yr @ 3.5% > 15yr @ 3.125%)?

The entire savings from refinancing comes from lowering your interest rate. For OP, if he's looking to pay off in 12 years since that is less than either the 15- or 20-year (17 remaining) terms, even the monthly payment is not a concern other than for a "life-happens" scenario where he may want to r...
by rocket354
Sun Feb 09, 2020 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: First Post: Should I Payoff Car & Refinance Home
Replies: 11
Views: 419

Re: First Post: Should I Payoff Car & Refinance Home

OP, 1) Yes to refi. 2) Do you max up all your tax-advantaged accounts? If not, how does it makes any sense that you pay 20+% taxes in order to save 3.5% interest on the car loan? 3) No to paying off the car loan. KlangFool Thanks, KlangFool for bringing up an important point. My advice above is pre...
by rocket354
Sun Feb 09, 2020 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: First Post: Should I Payoff Car & Refinance Home
Replies: 11
Views: 419

Re: First Post: Should I Payoff Car & Refinance Home

I owe $261k. I can't stand the home loan and decided to pursue refinancing at $265k @3.4% APR - 20 years & no PMI (home value increased). The home refinance will require about $4k to close. We plan to live here for at least another 6 years. I have about $55k in cash accounts, make about $150k/yr, a...
by rocket354
Fri Feb 07, 2020 3:34 pm
Forum: Personal Investments
Topic: Should I invest in this rental property?
Replies: 11
Views: 1312

Re: Should I invest in this rental property?

I assume 10% transaction costs for selling of home, which also includes any fixing up that may need to be done, as well. If the home is really worth $220k then after 10% transaction costs that is $198k. One-third of that is $66k. So you are paying $54k cash for $66k illiquid. I would do that, myself...
by rocket354
Fri Feb 07, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Simple Mortgage Question
Replies: 20
Views: 1791

Re: Simple Mortgage Question

As I pointed out above, I've already done the analysis comparing a 15 year mortgage to paying off a 30 year mortgage in 15 years. I don't know where you can get a 30 year mortgage for 3.375% right now. BankRate.com says that the weekly average is currently 3.64%. But let's say that he could get a 3...
by rocket354
Thu Feb 06, 2020 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Simple Mortgage Question
Replies: 20
Views: 1791

Re: Simple Mortgage Question

If you stick with your current 30 year mortgage, the total nominal cost would be $311,819. If you refinance to the 15 year mortgage, including the $5k of closing costs, the total nominal cost would be $249,791. That's a difference of $62,028. I think that you can do a bit better than taking on $5k ...
by rocket354
Tue Feb 04, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 22 year old - Should I focus more on saving for a house or retirement?
Replies: 41
Views: 3165

Re: 22 year old - Should I focus more on saving for a house or retirement?

The thing with being 22 is your life is very much in flux. You might change jobs at any time, you might get a serious GF and want to get married, you might just want to move somewhere new. If a headhunter reaches out to you with a great opportunity at double your current salary in a city with much b...
by rocket354
Fri Jan 31, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: For those of you that include your vehicle(s) in your net worth, how do you determine its value?
Replies: 66
Views: 2643

Re: For those of you that include your vehicle(s) in your net worth, how do you determine its value?

I use KBB and Edmunds yearly to get a rough estimate. Edmunds here, as well. I've always been skeptical of KBB values. In my admittedly limited experience, Edmunds numbers seem to translate into the real world a bit better. These discussions always seem to bring out some level of debate on what is ...
by rocket354
Wed Jan 29, 2020 12:07 pm
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 2924

Re: Buying a new-construction home

unsure if this is on slab or will have a basement. May want to state the home location (kinda important to find info germane to your area). Slab, state is TN. Very rainy here. I've only found one builder in my price range who even offers a basement as an option, and the woman I spoke with said that...
by rocket354
Wed Jan 29, 2020 12:33 am
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 2924

Re: Buying a new-construction home

That's the image a lot of these builders seem to project. But I've been doing a lot of research and I do see quite a few new-construction houses going for discounts in a lot of neighborhoods. This one house in particular I toured they were telling me an asking price of $40k over what a house of the...
by rocket354
Tue Jan 28, 2020 9:24 pm
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 2924

Re: Buying a new-construction home

Wow, lots of fantastic replies here! Thank you all! Find a realtor that will rebate part of their commission back to you. Rebates like that are not allowed in my state. I absolutely plan on using the fact that the builder doesn't have to cut a 3% commission to a buyer's agent in my negotiations. Als...
by rocket354
Tue Jan 28, 2020 12:45 pm
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 2924

Re: Buying a new-construction home

There is one built house of that floorplan that I could have but there are a couple items that I would prefer to be different. I have the option to build one fresh to my exact specs which is what I was planning on doing with my offer. I understand the built home probably has more wriggle-room for ne...
by rocket354
Tue Jan 28, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house instead of renting
Replies: 8
Views: 571

Re: Buying a house instead of renting

There are a lot of transaction costs when buying and selling real estate. You also have the opportunity cost of whatever you use as a down payment--that could be invested in an index fund, for example. You also have to include maintenance and repairs in your ownership costs. When I buy a place, I pr...
by rocket354
Tue Jan 28, 2020 12:23 pm
Forum: Personal Consumer Issues
Topic: Buying a new-construction home
Replies: 28
Views: 2924

Buying a new-construction home

I am seriously considering purchasing a new construction home. I've never done this before. I have not been using a realtor for my new-construction searches. I am all prepared to put in an offer and now I'm realizing that I am flying a blind when it comes to making sure I don't put myself in a bad p...
by rocket354
Tue Jan 28, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: considering buying a condo in scottsdale
Replies: 9
Views: 895

Re: considering buying a condo in scottsdale

I do not have any kids, but I do have rental properties, so with that in mind a few thoughts/questions. 1) Have you ever managed a rental before? Specifically, AirBnB? Rentals are work, even if you pay a management company (sometimes, especially if you pay a management company.) AirBnBs particularly...
by rocket354
Thu Jan 23, 2020 4:30 pm
Forum: Personal Consumer Issues
Topic: When to Change Car Battery?
Replies: 120
Views: 8756

Re: When to Change Car Battery?

Another car manufacturer somewhat renowned for going through batteries is Acura. Mine is not quite 7.5 years old now and on its fourth battery. Lifespan: Battery 1: 39 months Battery 2: 13 months (1 year warranty! Thanks, Autozone...) Battery 3: 35 months Battery 4: 1 month in and still going strong...
by rocket354
Wed Jan 22, 2020 10:11 pm
Forum: Personal Investments
Topic: Another Capital One Savings Account Offer
Replies: 3
Views: 1026

Re: Another Capital One Savings Account Offer

Received an offer from Capital One that offers up to $500 bonus ($100 per $10k, up to $50k deposited) if one transfers funds to a new savings account (at 1.70% APY) with them. Have to keep the funds there for at least 90 days. This is just enough to make me consider moving funds to a new savings ac...
by rocket354
Tue Jan 21, 2020 10:55 pm
Forum: Personal Consumer Issues
Topic: Chase Bank Bonus Issue
Replies: 25
Views: 2552

Re: Chase Bank Bonus Issue

This could be a blessing in disguise. Chase has banned me from holding consumer bank accounts (but not credit) because I had done the bonus something like 8 years in a row and some wise @ss branch manager alerted corporate to flag my account. Undeterred, I continue to open Chase checking accounts a...
by rocket354
Tue Jan 21, 2020 10:52 pm
Forum: Personal Consumer Issues
Topic: Chase Bank Bonus Issue
Replies: 25
Views: 2552

Re: Chase Bank Bonus Issue

Perhaps I'm not understanding your issue as I personally got this bonus without any issues but your problem is you are not keeping 300 in the checking account and are getting an account fee. Keeping enough to not have any account fees is part of the game. Why did you pull the $300 out so quickly in...
by rocket354
Tue Jan 21, 2020 10:43 pm
Forum: Personal Consumer Issues
Topic: Chase Bank Bonus Issue
Replies: 25
Views: 2552

Re: Chase Bank Bonus Issue

How can they enter a number that is above the balance when you close the account. Are you going to take further action? As long as I don't get a overdraft penalty, not with regards to that. I'll see how much effort I want to put into getting the bonus. I'm starting to think the smarter play rather ...
by rocket354
Tue Jan 21, 2020 9:52 pm
Forum: Personal Consumer Issues
Topic: Chase Bank Bonus Issue
Replies: 25
Views: 2552

Re: Chase Bank Bonus Issue

Moral of the story and true for all bonuses is you must follow all of the rules without exception and you are not due the bonus if you don't. Except I did follow the rules. They erroneously charged me a fee. There's literally no way to avoid that fee if the initial funding of the account is not all...
by rocket354
Tue Jan 21, 2020 5:12 pm
Forum: Personal Consumer Issues
Topic: Chase Bank Bonus Issue
Replies: 25
Views: 2552

Chase Bank Bonus Issue

Chase is refusing to pay me an account bonus due to their error. The story: I recently had an offer for Chase Bank account bonuses. Up to that point, I'd only had credit cards with them. The offer was for a $300 bonus for opening a checking account and arranging direct-deposits totaling $500/mo. If,...
by rocket354
Tue Jan 21, 2020 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Why would anyone care who services their loan? Are there any differences? Having dealt with a few, some have better web interfaces than others. One I currently have for a loan on a rental property is downright abysmal. It's impossible to get any real statement off that site. Other servicers have be...
by rocket354
Tue Jan 21, 2020 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Contemplating refinancing with LenderFi. Does anyone know who service's the loan? Do they sell it? If they handle it, how's their website / interface for making additional principal payments? They sell it. They sell to a variety of places. You can actually request ahead of time who your loan gets s...
by rocket354
Tue Jan 21, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: W2 Question
Replies: 31
Views: 1891

Re: W2 Question

1. When I read about Box 12W I see “Employer contributions (including amounts the employee elected to contribute using a Section 125 cafeteria plan) to your HSA”...If my employer contributed another $750 to my HSA, shouldn’t this box be $2,750 + $750? This depends on how the contribution is arrange...
by rocket354
Mon Jan 20, 2020 11:28 am
Forum: Personal Consumer Issues
Topic: My Hotmail account is getting spammed big time
Replies: 48
Views: 4723

Re: My Hotmail account is getting spammed big time

I do have proton account that I am using solely for financial institutions. For what is worth it seems it stopped & somebody came back to work & turned Spam filter back on. It stopped. Yes, around 2am this morning all spam that had been going to my main folder has now been successfully diverted to ...
by rocket354
Sun Jan 19, 2020 3:02 pm
Forum: Personal Consumer Issues
Topic: My Hotmail account is getting spammed big time
Replies: 48
Views: 4723

Re: My Hotmail account is getting spammed big time

I have the exact same issue. If the issue is what some others are implying, that a spammer just got "smarter" maybe then Microsoft will soon figure out a solution. I just went from my spam filter being 99% reliable sending things to the junk folder to about 95% unreliable. I don't want to hand-filte...
by rocket354
Fri Jan 17, 2020 1:10 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1406
Views: 190001

Re: Post your Financial Milestone Announcements Here

This seems to be the right place. I just found out today that my net worth crossed $500k. That is especially satisfying to me considering I was at $-150k eight years ago with nearly poverty-level income. The great recession hit me harder than most due to being heavy in stocks and real estate (in th...
by rocket354
Fri Jan 17, 2020 9:37 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Did you shop against better.com? They have been pretty good at price beating competition best offer by $1000. I'm curious, have you (or anyone else) heard of anyone collecting on that offer? I researched it some and there was so much legalese around it that I felt they could probably always find a ...
by rocket354
Thu Jan 16, 2020 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Did you shop against better.com? They have been pretty good at price beating competition best offer by $1000. I'm curious, have you (or anyone else) heard of anyone collecting on that offer? I researched it some and there was so much legalese around it that I felt they could probably always find a ...
by rocket354
Thu Jan 16, 2020 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: When can I get rid of PMI?
Replies: 13
Views: 1573

Re: When can I get rid of PMI?

I recently bought a house with 15% down and so there was a monthly PMI payment. However, I also started a new job at the same time that we closed on the house, and I received a signing bonus, so I had enough money to reach 20% down. My mortgage lender immediately sold the mortgage to Wells Fargo. I...
by rocket354
Thu Jan 16, 2020 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: When can I get rid of PMI?
Replies: 13
Views: 1573

Re: When can I get rid of PMI?

It may vary by lender, but with US Bank it was automatically removed at the scheduled 78 LTV or at 80% by my request with a good payment history and I had to pay for an appraisal to ensure the property didnt lose value. My mortgage is also with US Bank and my experience was slightly different. I pu...
by rocket354
Wed Jan 15, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: When can I get rid of PMI?
Replies: 13
Views: 1573

Re: When can I get rid of PMI?

Thanks for the responses. Sounds like a murky subject so I don't feel so bad for not being sure myself. I was hoping someone with direct experience would chime in. FWIW, I expect my loan would get sold to Wells Fargo, and this is what their website says about removing PMI: For loans covered by the H...
by rocket354
Wed Jan 15, 2020 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Interesting. One in-person appraisal and one computer generated one. Humm. Thanks for the the info. The guy I talked to said that he was 50/50 he could do a computer appraisal and save me money. He ran it while I was on the phone with him, and whatever system he uses accepted it. The backup would h...
by rocket354
Wed Jan 15, 2020 1:04 pm
Forum: Personal Investments
Topic: Just retired. Too emotionally attached to hard earned $ to be in market and generate a "paycheck."
Replies: 75
Views: 7928

Re: Just retired. Too emotionally attached to hard earned $ to be in market and generate a "paycheck."

You have not actually asked a question, but I'll offer this up: The notion of safe withdrawal rates typically assumes a diversified investment portfolio which is likely over time to achieve a certain projected composite rate of return. Your investments, in contrast, will grow very little while you ...
by rocket354
Wed Jan 15, 2020 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: When can I get rid of PMI?
Replies: 13
Views: 1573

When can I get rid of PMI?

So I am in a somewhat unexpected situation. I am in the market to purchase a home and I've been talking with lenders. One lender, whom I've used before with great success, has a strange structure where I actually get a lower rate the more I borrow, even if the purchase price is constant. So, the bot...
by rocket354
Wed Jan 15, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

Interesting, thanks. I have not heard of LendingFi. How does the appraisal work? Does someone need to be home? Last time I did one (refinance), I had to take a half day off work and be there to lead him around. How long does the process take with LendingFi? For my refi, they did an automated comput...
by rocket354
Wed Jan 15, 2020 11:52 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 336
Views: 38492

Re: My LenderFi refinance is going well

That has been my experience with them as well. I did a refi with them about six months ago and it was the cheapest, quickest, cleanest mortgage experience of my life (my sixth one, overall). Little errors on forms seems to be a common issue with lenders, so anyone doing any loan with any lender shou...