Search found 45 matches

by Cras108er
Sun Jun 03, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: “Financing” 2nd home purchase
Replies: 13
Views: 1333

Re: “Financing” 2nd home purchase

I don’t think it matters much whether you take the loan or use your savings. You’d still have nearly $1.7 million in liquid assets if you used your savings. So if debt-free retirement is important to you, go for it. Or you could take a loan and plan on paying it off once you sell your current home....
by Cras108er
Sun Jun 03, 2018 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: “Financing” 2nd home purchase
Replies: 13
Views: 1333

Re: “Financing” 2nd home purchase

Dottie57 wrote:
Sun Jun 03, 2018 6:13 pm
60k from non retirement funds. 60k 15 yr mortgage.
Why would you go that route?
by Cras108er
Sun Jun 03, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: “Financing” 2nd home purchase
Replies: 13
Views: 1333

“Financing” 2nd home purchase

Interested in boglehead perspectives. We’re debt free and in our mid/late 50’s. Spouse wants to purchase lake home that we’d potentially downsize to in retirement. It is about 1.5 hours from our current home, but much smaller. The plan would be for us to use as a summer/weekend home, and eventually ...
by Cras108er
Thu Nov 24, 2016 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do you track your net worth? How long have you done so?
Replies: 110
Views: 14609

Re: Do you track your net worth? How long have you done so?

I do a loose calculation about once a year, and have done it since about 2005. It is interesting (and motivating) see it grow over the years. I use an online tracker (networthiq.com). It is just generic self-entered information. There are about 1,600 users with public profiles that it compares you t...
by Cras108er
Mon Apr 25, 2016 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you overextended on housing? What were your experiences?
Replies: 42
Views: 6098

Re: Have any of you overextended on housing? What were your experiences?

Won't say I have ever overextended on a house, but have lived without financial margin before. I won't say it's the worst feeling in the world (I've lost a child before, and suspect having a terminal diagnosis is t fun either) but, it is a miserable way to live. To me, it's the same thing. If you ca...
by Cras108er
Mon Apr 25, 2016 10:05 am
Forum: Personal Finance (Not Investing)
Topic: LLC's and 401k's
Replies: 0
Views: 742

LLC's and 401k's

I heard recently that if you have a real estate rental, you can (and should) turn it into a LLC in order to limit your personal liability. A collaterals benefit is that as a business owner, you can contribute to your own self-directed 401k (and even create your own match). Is is true? Would the same...
by Cras108er
Mon Apr 25, 2016 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Does lender have incentive for PMI?
Replies: 8
Views: 1141

Re: Does lender have incentive for PMI?

In my town there was a big sting operation a few years ago where a number of Real estate professionals (agents, appraisers, loan officers, building inspectors, etc) went to jail and/or lost licenses for tampering with the process. I don't recall all of the details, but it seems part of it had to do ...
by Cras108er
Sat Apr 16, 2016 10:18 am
Forum: Personal Investments
Topic: Now i get it - mortgage payoff
Replies: 44
Views: 8844

Re: Now i get it - mortgage payoff

I think another aspect often overlooked is that many people do not get a dollar for dollar deduction of mortgage interest once the standard deduction is factored in. In fact only about 30% of taxpayers (one out of every three or four depending on their area) exceeds the standard deduction and gets ...
by Cras108er
Tue Apr 12, 2016 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Friend is an Edward Jones financial advisor -- should I drop him?
Replies: 76
Views: 13008

Re: Friend is an Edward Jones financial advisor -- should I drop him?

Doss, Perhaps, a way to think through this problem is to invert it. If you were going to design a adviser/mentor relationship with a client that is absolutely certain to provide the client with poor advice, how would you structure it? Personally, I would do something as follows: 1) I would want the...
by Cras108er
Thu Apr 07, 2016 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Trouble with Backdoor Contribution on Turbo Tax
Replies: 6
Views: 755

Re: Trouble with Backdoor Contribution on Turbo Tax

Thanks JW. You and Matt have been most helpful, and have saved me a ton of frustration.
by Cras108er
Thu Apr 07, 2016 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Trouble with Backdoor Contribution on Turbo Tax
Replies: 6
Views: 755

Re: Trouble with Backdoor Contribution on Turbo Tax

I contributed to my TIRA *for* 2015, but did it in 2016. Am I correct in understanding that I cannot do a conversion for the 2015 (even if I do it before April 15th)? As I understood the instructions, I would reply report any conversion on my 2016 taxes. Could I do two conversions in 2016 (one for ...
by Cras108er
Thu Apr 07, 2016 12:06 am
Forum: Personal Finance (Not Investing)
Topic: Trouble with Backdoor Contribution on Turbo Tax
Replies: 6
Views: 755

Re: Trouble with Backdoor Contribution on Turbo Tax

Did you recharacterize? You should have converted it (maybe you are just using the wrong word). TFB has a great post on how to do it within TurboTax: http://thefinancebuff.com/how-to-report-backdoor-roth-in-turbotax.html You're right. I used the wrong terminology. I did convert (not recharacterize)...
by Cras108er
Wed Apr 06, 2016 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Trouble with Backdoor Contribution on Turbo Tax
Replies: 6
Views: 755

Trouble with Backdoor Contribution on Turbo Tax

I am trying to finish my taxes using Turbo Tax, but am having problems. Here is the situation I rolled my TIRA balance to my TSP, leaving a zero balance, I then made a non-deductable contribution of $6500 to my TIRA Finally, I recharacterized the contribution to my Roth IRA When I enter this in Turb...
by Cras108er
Tue Apr 05, 2016 11:40 pm
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

Okay, everything is in place, and I am about to jump into he three fund portfolio. As I looked at performance, I admit I am a little nervous. I am going from a 80/20 Split to 60/40 with a recommendation to have 30% of stocks (or 18% of total) in international. I took a look at VTIAX and see it lost ...
by Cras108er
Fri Apr 01, 2016 7:37 am
Forum: Personal Investments
Topic: Thank You Bogleheads - FA Response
Replies: 7
Views: 1329

Re: Thank You Bogleheads - FA Response

Some FAs actually believe that - lots of group thinking as they sip the active vs index cool aid. Even a good FA that works hard to get you into a reasonable portfolio -- how does he/she justify a 1% charge after that unless he churns the account to demonstrate "value"? That seems to be the problem...
by Cras108er
Wed Mar 30, 2016 9:49 am
Forum: Personal Investments
Topic: Backdoor Roth IRA dilemma
Replies: 3
Views: 539

Re: Backdoor Roth IRA dilemma

I'm curious about this too. I know you have until April 15 to make. 2015 contribution to your TIRA o Roth. Do you not also have until April 15 to rollover your TIRA to a 41k plan as part of the Back Door process?
by Cras108er
Wed Mar 30, 2016 9:41 am
Forum: Personal Investments
Topic: Converting to a 3 fund portfolio (gradually or all at once)?
Replies: 16
Views: 1980

Re: Converting to a 3 fund portfolio (gradually or all at once)?

Good advice all, thank you! Just to be clear, my plan would be to transfer my mutual funds out of my FA advisor's account and into Vanguard accounts. Then I would either liquidate and convert to three funds all at once, or keep the existing mutual funds (now in Vanguard accounts) and slowly sell th...
by Cras108er
Wed Mar 30, 2016 12:37 am
Forum: Personal Investments
Topic: Converting to a 3 fund portfolio (gradually or all at once)?
Replies: 16
Views: 1980

Re: Converting to a 3 fund portfolio (gradually or all at once)?

I'm planning on transferring my IRAs and taxable account from my financial advisor to Vanguard and setting up a three fund portfolio. My question is, should I liquidate all my transferred accounts once they're at Vanguard and dump the money into the Vanguard funds all at once? Or, should I graduall...
by Cras108er
Sun Mar 27, 2016 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Term Insurance Questions
Replies: 6
Views: 761

Re: Term Insurance Questions

Are there any children at home or in college or special needs? How strong is your retirement savings? Any one of those may be a good reason for the term policy. But you may be able to get that for less, you can google "Term Life Insurance Quotes" and receive many many hits. Do you need $700,000 of ...
by Cras108er
Sun Mar 27, 2016 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Term Insurance Questions
Replies: 6
Views: 761

Term Insurance Questions

I have a $700k 20 Year level Term policy I bought about ten years ago (at age 45). I am a male in good shape, with no known medical conditions (family history of heart disease, cancer, and diabetes). I pay $1200 per year for it. I also have $200k insurance through work. I have two questions: Does th...
by Cras108er
Sun Mar 27, 2016 5:10 pm
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

Muchas Gracias!! I actually understand my portfolio now. Imagine that. :oops:
by Cras108er
Sun Mar 27, 2016 1:04 am
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

We have quite the mess! I'd like to continue simplifying (possibly whittling down to a three fund portfolio), but I am not sure how realistic that is. What advice would you give for my next steps in divesting myself of all of these funds in a tax efficient manner? See below for a proposed portfolio...
by Cras108er
Sun Mar 27, 2016 1:02 am
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

You sold everything with losses. Why can't you offset the gains with those losses? Hi rjg, when I said "I harvested losses," I meant that I had offset losses with gains. I may not have used the correct terminology. That was about six weeks ago. I wil definitely go back and look again to see if ther...
by Cras108er
Sat Mar 26, 2016 4:36 pm
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

One "Big Picture" item - think of your family's entire retirement portfolio as (1) portfolio, don't think of it as a bunch of different accounts. That really helps with simplification. Just as an example, you could have your US stock allocation in your TSP, your international stock in your wife's 4...
by Cras108er
Sat Mar 26, 2016 4:34 pm
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

1) You should make sure that the mutual funds in the taxable account are set up to NOT automatically reinvest any dividends and capital gains distributions. This will make your record keeping simpler and allow you to direct that money This won't make a difference if I am in the three fund portfolio...
by Cras108er
Sat Mar 26, 2016 2:16 pm
Forum: Personal Investments
Topic: Portfolio advice planning on taking away FA @ Ameriprise
Replies: 71
Views: 6887

Re: Portfolio advice planning on taking away FA @ Ameriprise

Lemonaid, I have nothing to add except to say that I am in a simlar boat as you. The folks here have been tremendous in helping me to get unburied. My portfolio looked almost (not quite) as complicated as yours looks three months ago. I think the biggest battle (at least for me) is having the courag...
by Cras108er
Sat Mar 26, 2016 1:21 pm
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Re: Continued Help Cleaning up my Mess?

Thanks for the excellent advice! I've gotten more (and better) advice here in three months than I did in fifteen years with my FA. :x
by Cras108er
Sat Mar 26, 2016 1:48 am
Forum: Personal Investments
Topic: Continued Help Cleaning up my Mess?
Replies: 16
Views: 2517

Continued Help Cleaning up my Mess?

First, I want to thank all those who have been helping me as a slowly but surely unravel from the mess that my FA created (with our help... or lack thereof). Here is what I have done so far: 1. Successfully transferred all funds to Vanguard 2. Harvested losses in my taxable account to retire my mort...
by Cras108er
Fri Mar 25, 2016 4:22 pm
Forum: Personal Investments
Topic: Best & Worst Financial Decisions?
Replies: 92
Views: 12254

Re: Best & Worst Financial Decisions?

Worst - Funded my EJ's investment advisor's kid's college education - Lived paycheck to paycheck for first 15 years of my adult life - Didn't take responsibility for my own financial education (time wasted) - Married woman (first time around) whose idea of personal financial management consisted of ...
by Cras108er
Fri Mar 25, 2016 12:50 pm
Forum: Personal Investments
Topic: Roth Backdoor: Making Sure I'm doing this Right
Replies: 2
Views: 435

Roth Backdoor: Making Sure I'm doing this Right

I am attempting to do a ROTH Backdoor conversion in my Vanguard Account. I had an IRA (a rollover from a previous employer) that I just transferred into my current TSP. That leaves me a $0 balance in the IRA. Here is where I need the confirmation. I now plan to transfer (?) $6500 from a taxable acco...
by Cras108er
Fri Mar 25, 2016 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage payoff
Replies: 42
Views: 7545

Re: Home Mortgage payoff

Your home situation is different than mine, but i will share my experience. I paid off our home in 2010. Sold the home a few weeks ago. New home, new mortgage. I won't pay it all off again. The money we "saved" with no monthly mortgage went into lifestyle. I am a prudent fellow, and my wife is not ...
by Cras108er
Thu Mar 24, 2016 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Home Mortgage payoff
Replies: 42
Views: 7545

Re: Home Mortgage payoff

I know this is a relatively old thread, but I revisit the idea of paying off my mortgage early on a regular basis. My current balance is $308,000 My monthly payments are $1560 (APR 3.875%). If I lost my job today, with my mortgage and $308,000 in liquid assets, I could make my mortgage payments for...
by Cras108er
Thu Mar 24, 2016 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Financially, how have you done/doing vs. your parents?
Replies: 134
Views: 16564

Re: Financially, how have you done/doing vs. your parents?

I have done much better financially than my parents. My dad dropped out of high school and joined the military. My mom stayed at home until I was a teenager. There were six kids, so working outside the home wasn't really an option. We had a good life, but it certainly wasn't opulent by any stretch o...
by Cras108er
Tue Mar 22, 2016 2:13 am
Forum: Personal Finance (Not Investing)
Topic: I don't have anyone else to brag about this to [debt free]
Replies: 77
Views: 11295

Re: I don't have anyone else to brag about this to

If the mods want to delete, they can but I just had to brag to someone and I can't really do it in my circle of friends and I really don't have any family left to brag to, so here it goes. As of COB on last Friday, I am completely debt free. Completely. I called my bank this afternoon and the debt ...
by Cras108er
Mon Feb 08, 2016 7:55 am
Forum: Personal Investments
Topic: Simplifying Portfolio: Next Steps
Replies: 5
Views: 1122

Re: Simplifying Portfolio: Next Steps

Here's the portfolio percentages and amounts by accounts: Cash 1.8% $25k Mutual Funds Held at EJ 12.88% $179k Exchange Traded Mutual Funds Held at EJ 0.35% $5k Individual Stocks Held at EJ 9.25% $128k Mutual Funds Held at Vanguard 0.87% $12k (Total Taxable 23.35% $324k) His Roth IRA at EJ 3.57% $50...
by Cras108er
Sat Feb 06, 2016 6:33 pm
Forum: Personal Investments
Topic: Simplifying Portfolio: Next Steps
Replies: 5
Views: 1122

Simplifying Portfolio: Next Steps

This is a follow-up to a previous question, but with a different question, so I am reposting portfolio information for convenience Emergency Fund : Fully funded Debt : Mortgage $150k @ 4.75% mortgage (Three years left on 15 year mortgage) Tax Filing Status : Married Filing Jointly Tax Rate : Federal...
by Cras108er
Fri Feb 05, 2016 4:01 pm
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

Debt : Mortgage $150k @ 4.75% mortgage (Three years left on 15 year mortgage) Contributions Taxable: $800 monthly to Vanguard ($9,600 annually) $1,800 monthly to EJ ($21,600 annually) Instead of future investing in taxable, you should pay down your mortgage. You could use any taxable cash to pay do...
by Cras108er
Fri Feb 05, 2016 6:01 am
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

I just wanted to make an observation. There is a specific line on the EJ monthly statement for "Fees and Charges." My statement shows that there were $0 fees and/or charges. When I look at the itemized transactions, I see "Charges" of 2.49 - 5.75% for the purchase of securities (load fees) and I se...
by Cras108er
Mon Feb 01, 2016 2:34 am
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

Thanks again for everyone's help. I have been in touch with Vanguard, and have an appointment for tomorrow am to facilitate the transfer. I will give my EJ FA a courtesy call, once things are set into motion. I just wanted to make an observation. There is a specific line on the EJ monthly statement ...
by Cras108er
Mon Jan 25, 2016 12:09 am
Forum: Personal Finance (Not Investing)
Topic: Invest More, or Pay Down Mortgage?
Replies: 17
Views: 2372

Re: Invest More, or Pay Down Mortgage?

Thanks everyone for the tips. This forum is so helpful! It definitely seems like folks are leaning toward the paying the mortgage down idea. So, here is a slight twist on that idea. I am one of those Edward Jones clients who has seen the light. My financial advisor has not been kind to me. Let's jus...
by Cras108er
Thu Jan 14, 2016 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Invest More, or Pay Down Mortgage?
Replies: 17
Views: 2372

Invest More, or Pay Down Mortgage?

My spouse and I are in our early/mid 50's and looking at retirement in the next 3-5 years. We currently max out our 401ks, invest about $1,800 a month into taxable investments. We have close to $1 million in tax deferred retirement accounts and another $300 - 400k in taxable investments. Our current...
by Cras108er
Wed Jan 06, 2016 6:28 am
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

Than you to everyone for your input and advice. A special thanks to retiredjg and to ladder for your helpful analysis of my portfolio. Both of you gave some very helpful advice. I am working on a desired AA. Probably looking at something like 60/40. We do have two potential pensions (retired militar...
by Cras108er
Tue Jan 05, 2016 1:19 am
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

Bumping this post. Additional information [Portfolio] added to my original post. :happy
by Cras108er
Sun Jan 03, 2016 9:16 pm
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Re: Need Help Cleaning up our Edward Jones Mess

Cras108er, you've gotten lots of good advice. You probably know that you don't have to deal with your EJ advisor in moving to Vanguard. Vanguard has a Concierge Services crew that specializes in moving accounts to VG from other providers. Once they know what you want to transfer, and the forms are ...
by Cras108er
Sun Jan 03, 2016 7:51 am
Forum: Personal Investments
Topic: Need Help Cleaning up our Edward Jones Mess
Replies: 23
Views: 6185

Need Help Cleaning up our Edward Jones Mess

REVISED POST (WITH ADDED DETAIL) We are in our early/mid fifties and have been investing with Edward Jones for about 15 years. Our goal is to retire in the next 3-5 years. In spite of our passivity and naivety, we have amassed a decent size portfolio in five accounts thanks to a frugal spouse. Pret...