Search found 265 matches

by fittan
Fri Sep 25, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Gazillionth mortgage pay off question
Replies: 43
Views: 3190

Re: Gazillionth mortgage pay off question

Here is the deal in bullets for easier viewing: 1.No debt besides mortgage 2.Roth MAXED VTSAX(mine and wifes) 3. 401k MAXED VTSAX (mine and wifes) 4. 9 months in expenses saved 5. Started a taxable...currently of 5 shares of VOO 6. Current mortgage $123,533.75 14years and 11months left at 2.9% Do I...
by fittan
Fri Sep 18, 2020 8:49 am
Forum: Investing - Theory, News & General
Topic: Merrill Edge transaction fee?
Replies: 12
Views: 805

Re: Merrill Edge transaction fee?

A member of this site who is a ME account holder posted that it is possible to buy Vanguard funds via an automatic investment plan at ME. It is not available for all mutual funds but I believe VTSAX and VTIAX are available via this method. To the OP: can you verify this is possible by setting up an...
by fittan
Thu Sep 17, 2020 6:49 pm
Forum: Investing - Theory, News & General
Topic: Merrill Edge transaction fee?
Replies: 12
Views: 805

Re: Merrill Edge transaction fee?

OP here. Thanks everyone. I will buy ETF as advised.
by fittan
Thu Sep 17, 2020 3:01 pm
Forum: Investing - Theory, News & General
Topic: Merrill Edge transaction fee?
Replies: 12
Views: 805

Merrill Edge transaction fee?

Hi, I recently moved from all my fund from Fidelity to Merrill Edge for the bonus and because I heard great reviews about ME from this forum. However I am having a bad experience thus far. I would like to know if my experience is legit or I am missing something. 1) Initially I tried to buy Fidelity ...
by fittan
Thu Sep 17, 2020 10:53 am
Forum: Investing - Theory, News & General
Topic: Comparing Fidelity and Vanguard fee
Replies: 3
Views: 385

Comparing Fidelity and Vanguard fee

HI fellow BH, I like to setup a 3 fund portfolio for my investment. It seems that Vanguard expense are slightly higher than Fidelity. For example, for Total stock market FXAIX is 0.02 vs VTSAX 0.04 Total international market FTIHX is 0.06 vs VTIAX 0.11 Total bond FXNAX is 0.03 vs VBTLX is 0.05 I und...
by fittan
Thu Sep 03, 2020 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge bonus?
Replies: 30
Views: 2429

Re: Merrill Edge bonus?

OP here. I just started the process of moving my funds from Fidelity over to ME. Like others said, this $1000 bonus is a targeted offer. When I spoke with ME rep, he had to get an approval from his manager to honor this promo. I will be transferring in $150K in IRA and $50K in taxable. Like others s...
by fittan
Thu Aug 27, 2020 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge bonus?
Replies: 30
Views: 2429

Re: Merrill Edge bonus?

This looks live for new accounts: https://www.merrilledge.com/offers/1000offer Wow this is great. I did a google search but this $1000 offer didn't even show up in any results. Thanks fellow BH. My end goal is to sign for BOA Preferred Rewards with a BOA Travel Rewards credit card. Should I setup t...
by fittan
Wed Aug 26, 2020 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge bonus?
Replies: 30
Views: 2429

Merrill Edge bonus?

Hi, current offer to sign up for a ME account is $250 for $100K and $600 for $200K. I think they have promotions in the past with 50% more bonus? Does anyone know if this extra bonus will come back?
by fittan
Tue Aug 11, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Online Savings Account Rates
Replies: 6
Views: 846

Re: Online Savings Account Rates

First step of getting out of a hole is to stop digging. I think you're on the right track (mentality). Keep chugging away and you'll be debt free really soon. I agree with what others said. Keep an emergency fund and then aggressive pay out debt (starting with the one with highest interest rate). I ...
by fittan
Thu Jul 23, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning docs
Replies: 23
Views: 1529

Re: Estate Planning docs

Is the $995 price with a local/in-person attorney or online based?

Legalzoom bundle for trust, 2 wills plus legal advice costs $379. For local/in-person attorney it usually cost $2k to $3k. If it is the former, then it is too expensive, if latter too cheap.
by fittan
Wed Jul 15, 2020 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: How much to put down on mortgage
Replies: 26
Views: 2012

Re: How much to put down on mortgage

I agree with others. Avoid PMI and go with a 30 year. With the 20% down, you still have an emergency fund but really can't do any major repairs or renovation. I would suggest to let everything settle down for a few months while continue to save up. Have you heard the expression "tyranny of the urgen...
by fittan
Tue Jul 14, 2020 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge $900 preferred rewards brokerage bonus
Replies: 80
Views: 7684

Re: Merrill Edge $900 preferred rewards brokerage bonus

Hi, I have a rollover IRA, Roth and my kid 529 at Fidelity now that I am thinking to move to ME. Total $200K. Does the 529 count toward the balance? Also in my I currently held Fidelity mutual funds like FXAIX in these accounts. After I move them to ME, will there be any difference in fund fees or c...
by fittan
Tue Jul 14, 2020 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge $900 preferred rewards brokerage bonus
Replies: 80
Views: 7684

Re: Merrill Edge $900 preferred rewards brokerage bonus

Hi, I have a rollover IRA, Roth and my kid 529 at Fidelity now that I am thinking to move to ME. Total $200K. Does the 529 count toward the balance? Also in my I currently held Fidelity mutual funds like FXAIX in these accounts. After I move them to ME, will there be any difference in fund fees or c...
by fittan
Mon Jul 13, 2020 2:38 pm
Forum: Personal Consumer Issues
Topic: Problem with tankless hot water heater
Replies: 5
Views: 530

Problem with tankless hot water heater

Hi fellow BH, I can't seems to find much info on this problem. Hopefully those of you who have tankless hot water heater can share your experiences. I installed a Rheem tankless last year. The problem is that when the weather is very humid (i.e. in the summer), the heater will shut off down to "wate...
by fittan
Mon Jul 13, 2020 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Have I reach the Need for an Umbrella Policy?
Replies: 24
Views: 1995

Re: Have I reach the Need for an Umbrella Policy?

Hijacking this tread a bit....some of you have mentioned paying $100 to $140/year for $1 million coverage. My Geico umbrella is $252/year (same $1 million coverage). Am I paying too much?
by fittan
Fri Jul 10, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Options on Will Creation
Replies: 19
Views: 1481

Re: Options on Will Creation

Yes I do recognize, I should have stated or included that needing a trust to me meant needing a lawyer. Appreciate the responses and it seems prudent to take the following actions -Draft up quick will for guardianship - legalzoom or other -Make sure beneficiary designations are setup with spouse, t...
by fittan
Fri May 15, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance- What to do at end of Term?
Replies: 37
Views: 2557

Re: Term Life Insurance- What to do at end of Term?

I am all for term. 30 years, $1 million (as a baseline). However, they are not exactly cheap. A 30 year $1 million cost about $1K/year. Including your spouse, it will be $2K. If you "laddered" and get a 2nd policy that's easily $3K plus/year. I am not sure about you guys but it seems "hefty" to me t...
by fittan
Thu May 14, 2020 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Good Time to Buy New Car or Wait?
Replies: 38
Views: 3736

Re: Good Time to Buy New Car or Wait?

I am in similar shoe. I was literally about to buy a brand new SUV but decided last minute to keep driving my RAV4. I would say wait if you can...there really isn't much deal right now besides the 0% financing. It doesn't seems like the dealership are desperate right now. And if you're looking at po...
by fittan
Wed May 13, 2020 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Subaru 0% financing
Replies: 35
Views: 3027

Re: Subaru 0% financing

You should be able to get 2% under invoice with partner pricing by joining a qualifying organization. The Pennsylvania Horticultural Society is $50 to join and qualifies. Random, I know, but other organizations have a higher buy in or require a 6 month waiting period. I jointed the PHS on a Thursda...
by fittan
Wed May 13, 2020 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Cost of revocable trusts, wills, estate planning
Replies: 25
Views: 2053

Re: Cost of revocable trusts, wills, estate planning

The prices you listed are too high. I did one last year (I live in MA) for $3500. This includes a will, revocable trust, health care proxy, power of attorney, etc. In addition because MA estate tax is only $1 million, the attorney also setup an AB trust for me. The attorney also help (included in pr...
by fittan
Wed May 13, 2020 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Subaru 0% financing
Replies: 35
Views: 3027

Subaru 0% financing

Hi fellow BH, I am looking into buying a new 2020 Forester Limited. Invoice is $29062. Local dealers are listing it for about $29500 (destination fee included). The only additional would be doc fee of $400, tax, registration etc. I am ok to pay cash for it but Subaru is offering a 0% 63 month financ...
by fittan
Mon May 04, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Income over stimulus check AGI...still qualify for $500 per child?
Replies: 3
Views: 574

Income over stimulus check AGI...still qualify for $500 per child?

Hi, I am aware I won't qualify for the $1200 check. However I have a kid under 17, will I still receive the $500 per child? Thanks.
by fittan
Mon Apr 27, 2020 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Another 15 vs. 30 year mortgage toss up
Replies: 59
Views: 4038

Re: Another 15 vs. 30 year mortgage toss up

Not many people are in the situation you are...to even consider a 15. If your job situation is somewhat secure, take the harder path. Really there's only 2 paths: suffer now to enjoy later or enjoy now to suffer later. Also, your age is irrelevant...assuming you're 25 now and took the 15 years, your...
by fittan
Fri Apr 24, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my Finances and Expenses/Budget
Replies: 16
Views: 1071

Re: Evaluate my Financial Plan

Great job paying down the debt. Your current financial status seems fine to me. Here's what I would suggest (or do if I am in your shoes): 1) Save up a 6 month emergency fund. 2) After that aggressively pay off the car loan. 3) You have about 30% in your home. Why are you still paying PMI? Get rid o...
by fittan
Mon Apr 20, 2020 10:11 am
Forum: Personal Finance (Not Investing)
Topic: 401k withdrawal to pay (or accelerate) student loan payoff?
Replies: 7
Views: 386

Re: 401k withdrawal to pay (or accelerate) student loan payoff?

I wouldn't touch the 401k (even though the rules for withdrawal have been relaxed recently). Yes, you are selling your bonds but eventually you have to buy back in. What if the bond funds appreciate 5% in the next year? Pay off the car loan first. At your income and saving rate, it shouldn't take yo...
by fittan
Fri Apr 17, 2020 11:06 am
Forum: Investing - Theory, News & General
Topic: How to "invest" in oil?
Replies: 85
Views: 6724

How to "invest" in oil?

Ok I'll admit it is not investing but gambling. If I want to bet on oil price what is the best way to do it? Is there a particular mutual fund that correlates fully to oil price? I know I can invest in Exxon etc but like to know if there are more direct alternatives.
by fittan
Tue Apr 07, 2020 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Fellow BH new yorkers, is moving to NY worth it ? (Covid issues aside)
Replies: 40
Views: 2469

Re: Fellow BH new yorkers, is moving to NY worth it ? (Covid issues aside)

Hi all, I have recently accepted a job offer at new York (30 minutes east of the city, suburb area). I'll be working remotely in the Midwest , where I'm currently at, until covid passes. Once it passes ,I'll be moving there. After accepting the offer and letting my current boss know, he countered a...
by fittan
Thu Apr 02, 2020 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Sell Stock to Payoff Credit Card Debt
Replies: 34
Views: 1000

Re: Sell Stock to Payoff Credit Card Debt

I think it is good idea. How MSFT stock does in the future is irrelevant to his credit card debt. They are 2 separate transactions. Whether his debt is $1K or $50K is irrelevant too. A debt is a debt. When you're paying 15% or more, any time you can eliminate a debt is a WIN. I also won't lend him t...
by fittan
Fri Mar 27, 2020 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage in 6 months or pay large chunk and recast it?
Replies: 25
Views: 1451

Re: pay off mortgage in 6 months or pay large chunk and recast it?

Let's pretend you're the bank...I recast and you calculate a new reduced monthly mortgage payment. Great, now I am gonna ask you a question...how did you calculate this new payment? Show me the amortization table. The bank provides the table. Under "balance" column....what do you think the first ro...
by fittan
Fri Mar 27, 2020 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage in 6 months or pay large chunk and recast it?
Replies: 25
Views: 1451

Re: pay off mortgage in 6 months or pay large chunk and recast it?

Recasting does change the principal balance (that's the whole point). In the case of OP, his original mortgage is $270K, he has paid down principal to $135K. Assuming he throws in the $75K to recast, the NEW principle is $60K. Everything is now based off this $60K. The interest rate remains at 3.5%...
by fittan
Fri Mar 27, 2020 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage in 6 months or pay large chunk and recast it?
Replies: 25
Views: 1451

Re: pay off mortgage in 6 months or pay large chunk and recast it?

I disagree with the statement that "recasting does not affect interest calculation. It only reduces minimum payment. That's all it does". I think it does. My understanding is that recasting keeps the original interest rate and loan term. All it does is to generate a new amortization table. When you...
by fittan
Fri Mar 27, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage in 6 months or pay large chunk and recast it?
Replies: 25
Views: 1451

Re: pay off mortgage in 6 months or pay large chunk and recast it?

There's something off here, OP, your statements are at odds with each other. Recasting does not affect interest calculation. It only reduces minimum payment. That's all it does. You probably already realize this, but just in case - you can pay down your mortgage without recasting it. If you're payi...
by fittan
Fri Mar 27, 2020 11:06 am
Forum: Personal Finance (Not Investing)
Topic: pay off mortgage in 6 months or pay large chunk and recast it?
Replies: 25
Views: 1451

Re: pay off mortgage in 6 months or pay large chunk and recast it?

How is that true? The online calculator I used suggested a reduction in interest paid: Current P + I : 1,201 (current Interest $400) After paying $75,000 and recasting: P + I : $532 ( Interest $175) This suggests I would come out ahead after 2 months. Is there something I am missing or do a lot of ...
by fittan
Thu Mar 12, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Keeping cash on hand during times like this???
Replies: 10
Views: 1278

Re: Keeping cash on hand during times like this???

veggivet wrote: Thu Mar 12, 2020 10:56 am Just make sure to wipe those bills down before you handle them...
or you can microwave them

https://www.allkpop.com/article/2020/03 ... ey-instead
by fittan
Tue Mar 10, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning questions around revocable trusts and types of accounts
Replies: 25
Views: 1249

Re: Estate planning questions around revocable trusts and types of accounts

OP, u said you're working with a lawyer but is he/her an Estate Planning lawyer? You don't want a general lawyer but one who is specializes in EP.
by fittan
Mon Mar 09, 2020 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: How To Survive A Recession
Replies: 6
Views: 1220

Re: How To Survive A Recession

I agree with most point except for "checking up on 401k". After today's bloodletting I suggest most people not to check their balance. If you haven't appropriately allocated your stock/bond ratio beforehand, it is already too late and any changes now is usually out of fear. If you're 90 or 100% in s...
by fittan
Mon Mar 09, 2020 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning questions around revocable trusts and types of accounts
Replies: 25
Views: 1249

Re: Estate planning questions around revocable trusts and types of accounts

I recently did what you're trying to do so below are my understanding... 1) Should I change over the deed to our home from me/my wife to the trust, to keep the home from going through probate? Is this a difficult or ill-advised move for any reason? Yes. A trust is useless until you move assets into ...
by fittan
Tue Mar 03, 2020 3:54 pm
Forum: Investing - Theory, News & General
Topic: Are CNBC all day traders?
Replies: 71
Views: 5284

Re: Are CNBC all day traders?

Imagine a boglehead approved show. How incredibly boring would that be? After every news item they would have to say "But you should ignore this and stay the course". After mentioning a company they would have to say "but we don't deal with individual companies just buy an index instead". The only ...
by fittan
Tue Feb 18, 2020 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Any ideas for a little extra money each year?
Replies: 34
Views: 3101

Re: Any ideas for a little extra money each year?

Frankly, I spend my free time making sure I am optimizing my tax strategy, now and in future years. And looking for ways to reduce expenses. For example, installing a terrestrial antenna in my attic and dropping paid TV service. I conservatively estimate I have save $150/mo*12mo/yr*12yrs = $21600. ...
by fittan
Fri Jan 31, 2020 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Should I refinance to 15 years?
Replies: 19
Views: 1563

Re: Should I refinance to 15 years?

My opinion is that being able to refi to 15 years is a "luxury". Meaning you have all your other ducks taken care of (i.e. emergency fund, max out retirement, kids expense taken care of, 529 setup). From what you've described, it feels like you're stretching yourself too much. $4800 of mortgage is A...
by fittan
Tue Jan 28, 2020 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9755

Re: Daughter's Boston Job Offer

I work in downtown boston. For a recent grad with no experience I think $68K is reasonable.
by fittan
Thu Jan 23, 2020 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse "roll over" into 401K
Replies: 6
Views: 490

Re: Reverse "roll over" into 401K

wrongfund, I only have 2 IRA fund...one is a rollover IRA worth about $100K. Since it was rollover from a 401K (previous job), I assume (to answer your question), the total non deductible contribution is $100K too. I have never contributed more than the 401k limit in any given year. The other IRA is...
by fittan
Thu Jan 23, 2020 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Reverse "roll over" into 401K
Replies: 6
Views: 490

Re: Reverse "roll over" into 401K

Thanks everyone for feedback. I just got a bit more info from Paychex. They charge about 0.5% total (this is everything including the fund fee). So for a $100K, it is about $500 fee yearly. I can't decide if the "juice is worth the squeeze". Let's assume a 10 year period. I would have paid about $5K...
by fittan
Wed Jan 22, 2020 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse "roll over" into 401K
Replies: 6
Views: 490

Reverse "roll over" into 401K

Hi, I have a roll over IRA from previous job. I am considering to roll it into my active 401k (for backdoor IRA purpose). My question is "would you roll over" given the conditions below. I know that keeping it at Fidelity has much lower cost but rolling it over allows me to fund a backdoor IRA. Is i...
by fittan
Wed Jan 22, 2020 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor ROTH IRA basic
Replies: 2
Views: 233

Backdoor ROTH IRA basic

My MAGI this year does not allow my to contribute to any IRA. Hence I am thinking of doing a backdoor ROTH. Can you help see I am on the right track? My current situation: 1) I have a $100k rollover IRA (from previous job 401k). 2) I have an active 401k with current employer. 3) I have a $30k ROTH I...
by fittan
Tue Jan 14, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd Home Down Payment
Replies: 9
Views: 1018

Re: 2nd Home Down Payment

Don't mean to be debbie downer but all you just wrote reminds me of 2008 all over again. Less than 20% down, checked. Over leveraged, checked. All it takes is one recession, one job loss, a couple of bad tenants (not paying rent) and you'll find yourself in a bind. You're doing well financially. Kee...
by fittan
Tue Jan 14, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: New Child- Steps to take (will/trust)
Replies: 39
Views: 2419

Re: New Child- Steps to take (will/trust)

It is great that you're thinking ahead but before you do so I think there are few things "more importantly" and "easy to do things" to protect your family. 1) Review your auto insurance. Increase the liabilities to match your asset (it doesn't cost much). 2) Get a umbrella policy. Say $1 million pol...
by fittan
Thu Jan 02, 2020 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Writing a will / estate planning / when does it make sense to use a trust?
Replies: 26
Views: 2893

Re: Writing a will / estate planning / when does it make sense to use a trust?

I am in very similar situation from you. Looking to protect my children physically and financially in a worse case scenario where both parents are deceased. To answer your question....Yes, a revocable trust is advisable in your situation. Actually not just a trust but a whole EP (Estate planning) wh...
by fittan
Fri Dec 13, 2019 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance question
Replies: 9
Views: 654

Re: Mortgage refinance question

I have refinanced several times before and each time I opted for no cost refi. Yes I understand there is always a "cost" that the bank "bake"" into loan in the form of a higher interest. If I am in your shoes I will refi to a 15 year @ about 3% and throw in spare cash to lower loan amount.
by fittan
Fri Dec 13, 2019 12:39 pm
Forum: Personal Consumer Issues
Topic: New baby: Should I purchase new car? Tesla?
Replies: 39
Views: 2894

Re: New baby: Should I purchase new car? Tesla?

I will trade in the Mitsu for a 2015 or 2016 Sienna, Highlander or Pilot.

Here's a certified 2016 pilot with 46K miles for $20K. https://www.cars.com/vehicledetail/deta ... /overview/

Here's a 2016 Sienna with 44K miles for $18K https://www.cars.com/vehicledetail/deta ... /overview/