Search found 214 matches

by fittan
Fri Oct 25, 2019 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Surviving Spouse Credit Card Question
Replies: 27
Views: 2258

Re: Surviving Spouse Credit Card Question

It is good advice to make sure surviving spouse has a credit card in his/her name. You don't want spouse to deal with applying for credit card and bill payments while grieving. Also if surviving spouse doesn't work, she may not have good credit history to even open a credit card then. Better to do i...
by fittan
Tue Oct 08, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing for 15 year?
Replies: 13
Views: 1286

Re: Refinancing for 15 year?

If you can swing it going to a 15 year is a good option. I did it and it allow me to pay off my mortgage (faster) eventually. There is also the mental aspect...26 years left feels like eternity whereas 15 years is more "manageable". Stay in your house for another 6 years and you're down to 9 years l...
by fittan
Wed Sep 18, 2019 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for 2 Incomes to 1 and Mortgage Payoff
Replies: 15
Views: 1117

Re: Plan for 2 Incomes to 1 and Mortgage Payoff

You mentioned you're worried about a market crash...I would be too when you have almost 1 million in the market. Nothing wrong with that but it is high % of your net worth. Anyway here's what I will do if in your situation: 1) Sell the taxable. You did well with a 50% gain. Go ahead, sell and pay th...
by fittan
Wed Sep 18, 2019 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Plan for 2 Incomes to 1 and Mortgage Payoff
Replies: 15
Views: 1117

Re: Plan for 2 Incomes to 1 and Mortgage Payoff

There are many factors to consider but personally I feel that beyond the financial the key is "How does your wife feel about being a SAHM when both kids are in school the whole day"? Your youngest will be in KG in 2 years. Does your town offer full day KG? If so in 2 years, both kids will be away fr...
by fittan
Fri Sep 06, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning - what instructions to leave for wife to handle finances
Replies: 19
Views: 2312

Re: Estate Planning - what instructions to leave for wife to handle finances

I think we're in similar situation. I also had will and trust setup. All assets have been moved into trust. So if I pass, wife simply approaches lawyer who will guide her next step. I also sit my wife down once or twice a year to walk thru with her on what to do if I pass. I think simplicity is key....
by fittan
Wed Jul 31, 2019 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Storing documents--- trust, will, etc.
Replies: 22
Views: 2116

Re: Storing documents--- trust, will, etc.

I did estate planning recently and all the documentations (will, trust, POA etc) are at attorney office. I also receive a binder with everything that I keep at home. To answer your question 1. Yes, you should definitely give a copy of your will/trust to your children's guardian. There really isn't a...
by fittan
Tue Jul 02, 2019 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Buy new home before putting current home on the market?
Replies: 25
Views: 1675

Re: Buy new home before putting current home on the market?

Hi, I wouldn't get the 2nd house now. My first thought is that this 2nd house, instead of creating an urgency for your wife, may instead become a "storage". You will move some stuff over over the weekends and they will most likely stay there for many more years. The issue here is your wife unwilling...
by fittan
Fri Jun 28, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: How much does it cost to build a garage?
Replies: 8
Views: 1211

Re: How much does it cost to build a garage?

TomatoTomahto wrote:
Fri Jun 28, 2019 1:37 pm
I don’t have an answer, but other respondents would want to know location, size (eg how many bays), etc.
You're right. It will be for North east (close to Boston). Just for 1 car garage. Nothing fancy, just enough for 1 car and couple of feet on all sides.
by fittan
Fri Jun 28, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: How much does it cost to build a garage?
Replies: 8
Views: 1211

How much does it cost to build a garage?

Hi fellow BH, has anyone has any experience building (using contractor, not DIY) a garage that is connected to house?

How much does it cost typically? $30k? $50k?

Thanks.
by fittan
Fri Jun 21, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Minimizing financial risk in case of disability
Replies: 12
Views: 1262

Re: Minimizing financial risk in case of disability

Thanks all. I did check with my HR and they confirmed I have short and long term disability. Short is 100% total comp for 3 months and long is 60% as long as disabled.

For some reason, I have never thought about disability (always about death). Glad to know there's some coverage.
by fittan
Fri Jun 21, 2019 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Minimizing financial risk in case of disability
Replies: 12
Views: 1262

Minimizing financial risk in case of disability

Was discussing insurance with wife recently and she asked "what happened if you're disabled, either physically or suffering from serious health issue (i.e. cancer)"? That got me thinking...I think I have most bases covered (term life, umbrella, retirement savings). But the worse case scenario for he...
by fittan
Thu May 23, 2019 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage almost paid off
Replies: 31
Views: 3593

Re: Mortgage almost paid off

And don't forget to call your town assessor office. Make sure you receive paper statement for your property tax bill. If your town has online bill pay, it is quite easy to pay your property tax every quarter online.
by fittan
Thu May 23, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Changing from owning to renting a home for retirement
Replies: 23
Views: 2187

Re: Changing from owning to renting a home for retirement

I am all for owning a home to build equity but I think renting could be a advantageous in your particular situation. As you're aware, owning a home cost a lot of money AND time. In addition you have to worry about when the big ticket items like roof, water heater, furnace, AC, exterior paint, water ...
by fittan
Thu May 23, 2019 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Changing from owning to renting a home for retirement
Replies: 23
Views: 2187

Re: Changing from owning to renting a home for retirement

I expect to transition from owning to renting, tho more accurately owning a home to owning a 'share' in housing co-op. Or a ROC (resident owned community). More along the lines of Fixed 'Rents' (actually 'reserves / (taxes and Maint)). I travel a lot and am keen on finding (or building) a rural cot...
by fittan
Wed May 22, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Why Do Homeowners Have Higher Net Worths than Renters?
Replies: 30
Views: 2589

Re: Why Do Homeowners Have Higher Net Worths than Renters?

rocket354 wrote:
Wed May 22, 2019 9:54 am
Why do Lamborghini owners have higher net worths than Kia owners?
Oh I have another one. Because lambo owners get to their destination faster. You know what they say "time equals money".
by fittan
Wed May 22, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Why Do Homeowners Have Higher Net Worths than Renters?
Replies: 30
Views: 2589

Re: Why Do Homeowners Have Higher Net Worths than Renters?

rocket354 wrote:
Wed May 22, 2019 9:54 am
Why do Lamborghini owners have higher net worths than Kia owners?
Because KIA depreciates....A LOT?

Oh...I have another one. Because Lambo driver gets to their destination faster. You know what they say "time equals money".
by fittan
Wed May 15, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a "new" car - Advice pls
Replies: 76
Views: 6760

Re: Buying a "new" car - Advice pls

You’re so young that an extra $10k now could easily be worth $2M-$5M later in life. I’d expand the search to include the 2015+ Kia Forte and buy used. Whatever you buy please inspect it and drive it safely. Good luck! You’re so young that an extra $10k now could easily be worth $2M-$5M later in lif...
by fittan
Tue May 14, 2019 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a "new" car - Advice pls
Replies: 76
Views: 6760

Re: Buying a "new" car - Advice pls

Lots of differing advice here. You can afford a new car. Get something you like because 10 years is a long time. Toyota and Honda are fine but expand your list. There are many brands more reliable than Honda. Maybe a Subaru crosstrek. They are very nice. Also good options from Mazda, Hyundai and Ki...
by fittan
Tue May 14, 2019 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a "new" car - Advice pls
Replies: 76
Views: 6760

Re: Buying a "new" car - Advice pls

If I am you.... 1) I will avoid buying new due to the much higher expenses. You'll need to pay "destination fee" for about $1K, your insurance premium and excise tax will go up and of course you'll need to pay higher sales tax. Everything adds up. Noted. I do acknowledge and will take into consider...
by fittan
Tue May 14, 2019 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Buying a "new" car - Advice pls
Replies: 76
Views: 6760

Re: Buying a "new" car - Advice pls

If I am you.... 1) I will avoid buying new due to the much higher expenses. You'll need to pay "destination fee" for about $1K, your insurance premium and excise tax will go up and of course you'll need to pay higher sales tax. Everything adds up. 2) I would buy a 3 year old Accord (or similar) that...
by fittan
Thu May 02, 2019 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Car shopping advice (sanity check)
Replies: 56
Views: 5577

Re: Car shopping advice (sanity check)

OP, I am in similar situation. Have a 2008 RAV4 with 150K miles. Good, reliable car, nothing wrong but I am itching to "upgrade". Financially I am more stable since I am much older. Anyway here's my 2 cents... 1) You are in a great financial position. Good income, young, no debts and no major expens...
by fittan
Tue Apr 30, 2019 4:21 pm
Forum: Personal Consumer Issues
Topic: Buying car using carvana.com
Replies: 22
Views: 1962

Buying car using carvana.com

Hi fellow BH,
Has anyone had experience buying car from carvana.com? Seems legit. All their cars have clean carfax with no accident. They deliver to your house and they are no dealer or documentation fee. And they also provide a no question ask 7 day return policy.
by fittan
Fri Apr 26, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: For those with years on me...Can I afford this home?
Replies: 70
Views: 5059

Re: For those with years on me...Can I afford this home?

As other have said, with the amount of cash, stocks and equity on hand, you have more than enough to buy this new home. I think it is a question of wants vs needs. That said, I am in similar situation as you, age wise, with young kids, same size house, net worth, wife looking at zillow etc. While re...
by fittan
Thu Apr 25, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Do Joint Accounts Matter if Spouse Stays Home with the Kids?
Replies: 31
Views: 2494

Re: Do Joint Accounts Matter if Spouse Stays Home with the Kids?

Frankly most of our financial entities are individual anyways: 401k, Roth, credit cards, insurance. So we're really talking savings account, checking account and perhaps a joint brokerage. I am sure there are so pros and cons, but since you and your wife financial situation is so simple (i.e. no con...
by fittan
Thu Apr 25, 2019 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan Question
Replies: 10
Views: 439

Re: Auto Loan Question

IF your credit score is not in top tier (i.e 800 plus), keeping this loan will increase your score over time. IF your credit score is in top tier and you don't really need this $7500 (i.e. you still have 6 month emergency fund), just pay it off and move on. For this amount, "the squeeze is not worth...
by fittan
Thu Apr 25, 2019 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Family Trust
Replies: 25
Views: 3493

Re: Family Trust

... There are really 3 ways to go about. One is buy a program like Willmaker (which include trust) for $70. The other is use an online resource like Legalzoom which cost about $350 (they give you access to an attorney for questions). Third is to use an attorney which cost about $3K. You're right th...
by fittan
Wed Apr 24, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Family Trust
Replies: 25
Views: 3493

Re: Family Trust

There are also several "intangibles" pros about using an attorney. The first is that it help/force my wife to confront this issue. Setting up will and trust is still consider a taboo that most people don't try to think about. You are literally planning for all the worse case scenarios. What if one d...
by fittan
Wed Apr 24, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Family Trust
Replies: 25
Views: 3493

Re: Family Trust

I just setup an Estate plan (which includes will and trust) with an attorney that specializes in EP. The cost is about $3K but wife and I agree that it is well worth the cost. I am in similar situation, 40+ and 2 kids around 9. There are really 3 ways to go about. One is buy a program like Willmaker...
by fittan
Wed Apr 10, 2019 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Should you use a real estate agent when buying a house? What are your experiences?
Replies: 72
Views: 4386

Re: Should you use a real estate agent when buying a house? What are your experiences?

When I bought my house in 2010, I used a buyer agent but didn't find she added much value. I knew exactly which towns and house I am interested with. Wife and I went to all the open house ourselves. It is after we are 90% sure we found the house(s) we want that we randomly called up an agent. All th...
by fittan
Thu Mar 28, 2019 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Home sale proceeds
Replies: 5
Views: 510

Re: Home sale proceeds

Yes we are putting 20% down on the new home. Yes, we are both receiving the match for our work 401k and yes we both have term life insurance. Thanks! Looks like you have your ducks all lined up. I don't think you need to do anything significant, just keep saving away. One suggestion is to look at i...
by fittan
Thu Mar 28, 2019 10:54 am
Forum: Personal Finance (Not Investing)
Topic: My wife's 2016 Mazda CX-5 lease is up. Now what?
Replies: 37
Views: 3060

Re: My wife's 2016 Mazda CX-5 lease is up. Now what?

I love the CX-5....but 2 things bother the hell out of me. First is the "pizza" wheels design. From the sides, all I see are 10 slices of pizza :oops: Second, the...well...bland?...rear. I mean the designer spent 99% of the time with the slick front design and then for the rear just round it out and...
by fittan
Thu Mar 28, 2019 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Home sale proceeds
Replies: 5
Views: 510

Re: Home sale proceeds

I won't rush to pay off the 0%. Few questions...Are u paying at least 20% for the downpayment? Also have you match your work 401k contribution? Also do you have a term life insurance to protect both you and spouse?
by fittan
Thu Mar 28, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Maximizing Chase freedom 5%
Replies: 27
Views: 3000

Re: Maximizing Chase freedom 5%

The Freedom never seemed worth it to me with the $1500 limit per quarter on the 5% categories - a lot of extra work for maybe $300/year. Maybe if I was into UR points, but I'm not. Actually it is less than that. Assuming our "baseline" card is doublecash 2%. This strategy only "earns" an extra 3%. ...
by fittan
Thu Mar 28, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Maximizing Chase freedom 5%
Replies: 27
Views: 3000

Re: Maximizing Chase freedom 5%

RickBoglehead wrote:
Wed Mar 27, 2019 10:54 pm
Costco gas is much cheaper than Speedway, 4% back.
Of course...hard to beat Costco gas price. The only problem is that not all Costco have gas station (I live in MA).
by fittan
Thu Mar 28, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Maximizing Chase freedom 5%
Replies: 27
Views: 3000

Re: Maximizing Chase freedom 5%

Don't forget, if you have a CSR the Freedom points aren't worth 5%, they are worth 7.5% when booking travel on the Chase website. What's the fee to buy a Visa gift card? that's only if you have the Chase sapphire reserved (50% more) or the CS preferred (25%) more. without either, you're not getting...
by fittan
Wed Mar 27, 2019 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Maximizing Chase freedom 5%
Replies: 27
Views: 3000

Re: Maximizing Chase freedom 5%

Great ideas, thanks for sharing. I will purchase grocery store gift cards to use throughout the year for groceries and gas. I also buy gift cards (some for me, some for gifts for upcoming birthdays, etc.) at the grocery store during the April-June time period so that I can receive a 5% discount on ...
by fittan
Wed Mar 27, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: New Honda CR-V vs. 2-3 Year Old CR-V?
Replies: 68
Views: 5017

Re: New Honda CR-V vs. 2-3 Year Old CR-V?

Depreciation on Honda & Toyota is so low that it often doesn’t make sense to buy used. I would buy the new one. Agreed. OP might also consider getting the 2019 LX trim level, particularly if he lives in a cold area, as it has the non-turbo 2.4 liter engine. The higher trim levels have the turbo 1.5...
by fittan
Wed Mar 27, 2019 1:21 pm
Forum: Personal Consumer Issues
Topic: New Honda CR-V vs. 2-3 Year Old CR-V?
Replies: 68
Views: 5017

Re: New Honda CR-V vs. 2-3 Year Old CR-V?

I really really like the redesigned CRV. Looks nice and good bang of buck for the technology. However I would never buy it because of the oil dilution problem due to the new turbo engine. If you haven't heard about it, basically it is gas that seeps into engine oil. No, it is not normal despite what...
by fittan
Wed Mar 27, 2019 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Maximizing Chase freedom 5%
Replies: 27
Views: 3000

Maximizing Chase freedom 5%

Hi, I know many of us have this card. It gives a great 5% cash back but unfortunately each category last only 3 months. I have a "trick" to maximize this that I like to share (I haven't heard anyone mention this). When it is the gas category, I will top up my Speedway gas card for $1500. Speedway gi...
by fittan
Wed Mar 27, 2019 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Re: Paid off mortgage!

OP here. True 2.875% is a very good rate and I did struggle a bit to pay off. If I place the funds in a CD, the after tax interest would almost cover the mortgage interest post deduction (i.e. it is a wash). Two factor influenced my decision to "just do it". First is that my retirement funds, taxabl...
by fittan
Tue Mar 26, 2019 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Re: Paid off mortgage!

I finally paid off my mortgage today! First time in my life that I am completely debt free Congratulations on achieving your goal. What was your mortgage rate? You had to ask :) It was 2.875%. I know it is technically free money after mortgage deduction. That’s why it took me a while to consider pa...
by fittan
Tue Mar 26, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Re: Paid off mortgage!

OP here. Thanks everyone for your well wishes again. Yes, I did brought wife and kids out for a nice dinner (although I didn't tell kids about this as they are still young). It sounds like there are many other in this board that are close (few years away) to paying off theirs too. Great job, keep ch...
by fittan
Tue Mar 26, 2019 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Re: Paid off mortgage!

We're planning on hitting it in another 3yrs, right around the time I hit 40 and wife hits 35. Then the real works starts: trying to convince the wife that there is no reason for us to upgrade (I'm going to lose). +1 We are 2 years away from paying off our primary home mortgage and I fight THIS bat...
by fittan
Tue Mar 26, 2019 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Re: Paid off mortgage!

I finally paid off my mortgage today! First time in my life that I am completely debt free :) Thanks to everyone on this board who have been a great resource along the way. Welcome to the debt-free club! :sharebeer A giant leap to becoming bulletproof. What are your plans for the extra cash each mo...
by fittan
Tue Mar 26, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 7959

Paid off mortgage!

I finally paid off my mortgage today! First time in my life that I am completely debt free :) Thanks to everyone on this board who have been a great resource along the way.
by fittan
Fri Mar 22, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning....I finally did it
Replies: 3
Views: 1176

Estate planning....I finally did it

I started off knowing that I need a will ASAP (I have 2 young kids). Then I read about the benefits of revocable trust. Then I found out about AB trust (i.e. 2 trust) because I live in MA which has a very low ($1 million) estate tax. I have educated myself along the way using google search, youtube,...
by fittan
Fri Mar 22, 2019 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Paying cash for a vehicle
Replies: 87
Views: 11325

Re: Paying cash for a vehicle

Do not let the dealer know you plan to pay cash. This way they will drop the price more. They want you to have a loan from them. Absolutely. No discussion of financing (or not financing) until price is nailed down. Also, don't discuss trading in the old car until the end. Also this. If they think y...
by fittan
Thu Mar 14, 2019 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer. Should we sell stocks for down payment on regular loan or get an FHA loan?
Replies: 8
Views: 829

Re: First time home buyer. Should we sell stocks for down payment on regular loan or get an FHA loan?

First of all, if you're saving for a down payment, you should have a separate "bucket" of savings held in risk free account (e.g. CD, treasuries). If you're banking on your stocks and ETF, you're putting yourself in too much risk (i.e. gambling). In short, stocks and ETF can be "fun" money, NOT down...
by fittan
Thu Mar 14, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Massachusetts Estate Planning
Replies: 48
Views: 3038

Re: Estate Planning

A well-qualified estate lawyer would probably have the best suggestions. +1 There is a difference in being frugal and being cheap. Being cheap is thinking I can "figure out" estate planning myself while hoping I'm not leaving any holes for my executor to have to clean up. I wouldn't attempt to "fig...
by fittan
Thu Mar 14, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Newbie question on trusts and estate planning
Replies: 15
Views: 1612

Re: Newbie question on trusts and estate planning

Hi, I am also researching on will and trust now so can chime in a bit. - Have you had a will setup? If not you should have one asap. One key purpose of a will is to assign a guardian to take care of your kids wellfare if you and wife pass. - To setup 2 wills, revocable living trust plus healthcare p...