Search found 203 matches

by dandinsac
Mon Oct 26, 2020 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Fixed vs ARM mortgage
Replies: 12
Views: 862

Re: Fixed vs ARM mortgage

You could also run the numbers to put an additional $200,000 down to get the loan balance to be conforming (e.g., $765,600 or less for Orange or LA County.) You may be able to get even a lower rate. This wouldn’t be a good option if you are hit with capital gains taxes by selling stock in a taxable ...
by dandinsac
Sun Oct 25, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Potential job loss at 62
Replies: 37
Views: 4219

Re: Potential job loss at 62

Definitely pursue the refinance to provide flexibility. You may also want to look at how you can beef up your skills or certifications so that you can earn more than $15/hour if you do get laid off.
by dandinsac
Sat Oct 24, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice
Replies: 8
Views: 887

Re: Need Advice

Work with your contractor to determine which projects should be done together, how long they will take, and which order is best to do them in. This will give you a rough “cash requirement” by month. To fund this work, I recommend that you lower your 401K contributions to only get the match, continue...
by dandinsac
Wed Oct 21, 2020 2:52 pm
Forum: Personal Investments
Topic: Late to the party at 50 - Need advise
Replies: 11
Views: 2530

Re: Late to the party at 50 - Need advise

I just turned 56. Looking back when I was 49.5, I had about $900K savings + home equity and a salary/bonus of about $175K. Now, my savings+equity is $1.5M, which is an increase in savings of about $400K and increase in equity of about $200K. You have a net worth of $1.2M, so, I guess I was even late...
by dandinsac
Sat Oct 10, 2020 9:32 am
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1482
Views: 136978

Re: My LenderFi refinance is going well

And today I received notification with my Final Closing Disclosure with an indication that my loan will be sold to Wells Fargo and I will be receiving a welcome packet. So... 10/9 - Received Final Closing Disclosure with indication loan had been sold to Wells Fargo and expect welcome packet. Lucky ...
by dandinsac
Fri Oct 09, 2020 11:16 pm
Forum: Personal Consumer Issues
Topic: Improving home office setup: 1) monitor 2) webcam/audio
Replies: 30
Views: 1795

Re: Improving home office setup: 1) monitor 2) webcam/audio

I use a Canon M50 with a 22mm lens as my webcam with a fixed F2 aperture, it blurs the background of my home office. The face tracking works pretty much flawlessly. I routinely get comments stating how clear my video seems to them. I didn’t buy the camera for this purpose, but it works really well. ...
by dandinsac
Thu Oct 08, 2020 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1482
Views: 136978

Re: My LenderFi refinance is going well

Any updates from people on where there more recent refinances are being serviced? I closed 9/17 and funded 9/22... so not even 2 weeks. I have no update yet. My servicing was transferred to AmeriHome. I found out by checking the MERS system (link here: https://www.mers-servicerid.org/sis/) and saw ...
by dandinsac
Mon Sep 28, 2020 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1482
Views: 136978

Re: My LenderFi refinance is going well

I just completed my second refinance with LenderFi.

The first time in February, it took 13 calendar days from loan application submitted to signing. This time it took 23 calendar days.
by dandinsac
Sun Sep 27, 2020 8:49 pm
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 91
Views: 6861

Re: DIY life style. Typical Boglehead?

I grew up in a household with two parents raised on the farm. I can count on one hand the number of projects my parents hired out. So, I “inherited” the DIY live style. So, I started out thinking it it was normal life style DIY. Some things are no longer DIY... Except for washing my cars and filling...
by dandinsac
Sat Sep 26, 2020 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1482
Views: 136978

Re: My LenderFi refinance is going well

For those who's disbursement date is 1-2 days before the end of the month, did you cancel your auto-payment to the old lender? Or did you wait for confirmation of the loan getting paid off? My refi is scheduled for disbursement on September 30. I turned off the auto payment, which would have been f...
by dandinsac
Sat Sep 19, 2020 3:42 pm
Forum: Personal Consumer Issues
Topic: Which snow tires for serious snow commuting?
Replies: 29
Views: 1543

Re: Which snow tires for serious snow commuting?

When I lived in Maine for 2 winters, I had Blizzaks with a FWD car. I had a challenge one time getting out of a parking spot at work when it snowed all day. Otherwise, they worked very well and I never had chains. I would think those tires with chains when needed for mountain roads would be fine for...
by dandinsac
Sat Sep 19, 2020 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Just did a no-cost refinance @2.75% 30-yr
Replies: 18
Views: 2595

Re: Just did a no-cost refinance @2.75% 30-yr

I refinanced with LenderFI about 6 months ago for 3.25% / 20 years. My original mortgage was 3.75% / 30 years and I was ~7 years in. Now I’m part way through 2.375% / 15 years with LenderFI. I would recommend going forward with this one and revisiting in 6 months to see if another no cost refinance ...
by dandinsac
Fri Sep 04, 2020 8:13 pm
Forum: Investing - Theory, News & General
Topic: Is it really passive index if S&P actively excludes Tesla?
Replies: 160
Views: 11998

Re: Is it really passive index if S&P actively excludes Tesla?

For what it is worth, TESLA is included in the Technology Index fund and Mega-Cap Index fund at Vanguard https://advisors.vanguard.com/VGApp/iip/site/advisor/analysistools/holdingssearch?searchinfo=TSLA&isin=&orgCode=&selectedFunds= As of July 31, Tesla was #25 out of 8696 holdings in t...
by dandinsac
Fri Sep 04, 2020 9:30 am
Forum: Personal Consumer Issues
Topic: To Join a Gym or Not After 70? Type of Gym? Are Fitness Goals Achievable?
Replies: 70
Views: 4409

Re: To Join a Gym or Not After 70? Type of Gym? Are Fitness Goals Achievable?

I recommend you read the Body by Science book by McGuff. I am in my mid-fifties and have been doing this program for 2 years. I am very satisfied with my strength gains with the minimal time. McGuff outlines a program of 5 exercises done once per week. He recommends slow movements with machines, alt...
by dandinsac
Thu Sep 03, 2020 10:42 pm
Forum: Personal Investments
Topic: Pay down mortgage or invest
Replies: 31
Views: 2608

Re: Pay down mortgage or invest

One approach would be to pay off enough to only owe about 60% of the home value. Then, refinance to a 15-year mortgage. You should be able to get at or below 2.5%, with minimal out of pocket costs. Take advantage of the low rates available now.
by dandinsac
Wed Aug 05, 2020 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Good (and bad) decisions/tips for home remodel?
Replies: 54
Views: 4761

Re: Good (and bad) decisions/tips for home remodel?

We did a kitchen remodel a few years ago. This included everything but the floors - new walls, ceilings, replacing one load bearing wall. I would never have done this without a GC. We lived in our house while the work was done. The contractor did "doorways" of thick plastic that we walked ...
by dandinsac
Sat Jul 25, 2020 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Talking to my widowed Mom about money
Replies: 34
Views: 3037

Re: Talking to my widowed Mom about money

I have helped my wife to organize her mother’s finances. Every 6 months or so, I do a two-page summary of her finances. This specifies what she has in her IRA, taxable account and annuity and how much is automatically withdrawn. I do a simple comparison of the balances with the previous. My wife sha...
by dandinsac
Mon Jul 13, 2020 7:26 pm
Forum: Personal Investments
Topic: Pay off house without paying off house
Replies: 12
Views: 2734

Re: Pay off house without paying off house

The kay to doing this is how quickly you end up money ahead. As stated above, paying lots of taxes to save 3.1% on the loan isn’t too good. Assuming you can spread out the withdrawal of $66,000 to multiple years, it’s to your advantage... $66,000 withdrawal (at 16% taxes) = payoff $55,000, saving 3....
by dandinsac
Wed Jul 01, 2020 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rate Options - Which rate to choose
Replies: 1
Views: 271

Re: Mortgage Rate Options - Which rate to choose

In 2013, I paid a bit more to lower the interest rate to 3.75% on a house purchase. I’m still in the same house, so it didn’t matter too much. This year I refinanced at no cost to 3.25%. I plan on doing another refinance in the fall if I can get another 0.25 - 0.5% off. Without knowing anything else...
by dandinsac
Wed Jun 24, 2020 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: LenderFi Refinance - Closing Amount Higher than Principal Amount?
Replies: 13
Views: 1011

Re: LenderFi Refinance - Closing Amount Higher than Principal Amount?

I had a similar experience. When I refinanced, I ended up skipping a payment. If I would have applied that to my new loan as a prepayment, the balance would have been in line with the previous loan.
by dandinsac
Mon Jun 22, 2020 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: refi or continue on current course
Replies: 12
Views: 516

Re: refi or continue on current course

In February, I refinanced my loan balance of about $320,000 from 3.75% to 3.25% with a no cost refinance. My payment went up by about $60 since I did a 20-year term, which shortened the payoff by 2 years. The interest savings are substantial. For my next payment in July, I would have paid $990 in in...
by dandinsac
Mon Jun 15, 2020 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need to save for early retirement? (math problem)
Replies: 20
Views: 1939

Re: How much do I need to save for early retirement? (math problem)

I’d recommend looking at the Maxifi Planner software. There is a yearly cost, but I’m guessing it would be better than building a spreadsheet from scratch. I use it extensively to better understand the tradeoffs in financial decisions, such as buying a new house, relocating to another state, changin...
by dandinsac
Wed Jun 10, 2020 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to refinance?
Replies: 11
Views: 1031

Re: Does it make sense to refinance?

You should definitely refinance. In 5 years, you will have paid less P+I and have a smaller mortgage balance.
by dandinsac
Mon Jun 01, 2020 3:03 pm
Forum: Personal Investments
Topic: What to do after maxing 401k and emergency fund?
Replies: 23
Views: 2669

Re: What to do after maxing 401k and emergency fund?

Save your excess money for the car purchase which you stated you would need it in three months. TravelforFun +1 You should also look to refinance before your wife leaves her job. With your incomes and no car loan (yet), you may be able to do a no-cost refinance and lower your interest rate and paym...
by dandinsac
Fri May 29, 2020 2:35 pm
Forum: Personal Investments
Topic: re: Should I refinance?
Replies: 4
Views: 423

Re: re: Should I refinance?

I was 7 years into a 30-year mortgage when I refinanced from 3.75% to a 20-year mortgage @3.25% with no costs. My payment went up by about $50/month and the term was shortened by about 3 years. I will look for another no cost refinance with at least a 0.5% drop to consider another before I refinance...
by dandinsac
Sat May 23, 2020 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Approaching 40, worried about financial future
Replies: 121
Views: 12885

Re: Approaching 40, worried about financial future

With 15-20 years of employment ahead of you, your biggest asset is your earning potential. The most important thing for your family to get to a good financial future is your ability to stay employed and earn more income. To do this, make sure you are in an industry that grows. It's challenging to ge...
by dandinsac
Sat May 23, 2020 3:47 pm
Forum: Personal Consumer Issues
Topic: Hertz is declaring bankruptcy
Replies: 73
Views: 7942

Re: Hertz is declaring bankruptcy

From Hertz to flatline. Apologies to those who don't get the joke, and even more so to those who do. :P Hertz....just part of the cycle! :) That's gotta hertz! Who would have thought that the Forum was a site for aspiring stand-up comedians? Please, keep the jokes coming. :D I understand that there...
by dandinsac
Sat May 23, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 39622

Re: The axe falls and I am prepared. What's next?

Folks, I am asking two separate questions: A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile. B) Under what non-financial condition, would you go back to work? KlangFool KlangF...
by dandinsac
Tue May 19, 2020 12:13 am
Forum: Personal Investments
Topic: Help me correct my Dad's Retirement Portfolio
Replies: 14
Views: 1534

Re: Help me correct my Dad's Retirement Portfolio

It’s pretty tough giving good advice without knowing roughly how much money is in the 401(k), what his current income is, and the amount of his expected Social Security monthly income.
by dandinsac
Thu Apr 30, 2020 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3046

Re: Minor regret with a 15-year mortgage

1. If you can find a no cost refinance at or below 3.25%, then I don’t see any downside to doing this. Having more flexibility is good. 2. Yes, pay the minimum and save the rest. Once the interest rate is low, it doesn’t make that much difference to prepay or save more in a taxable account. Once you...
by dandinsac
Mon Apr 27, 2020 3:48 pm
Forum: Personal Investments
Topic: WHAT TO DO for family of 5, tiny house, extra $: Mortage payoff vs. 529 vs. taxable retirement
Replies: 27
Views: 2066

Re: WHAT TO DO for family of 5, tiny house, extra $: Mortage payoff vs. 529 vs. taxable retirement

I would pay off the mortgage since you may buy a different house at some point. If you do find one, this equity would then transfer to the new house. Another option may be to enlarge your existing house. If so, it might be worth a discussion with an architect. Real estate commission and moving expen...
by dandinsac
Thu Apr 23, 2020 8:20 am
Forum: Personal Consumer Issues
Topic: Budget for Home Upgrades and Maintenance Reserve Fund?
Replies: 23
Views: 1308

Re: Budget for Home Upgrades and Maintenance Reserve Fund?

I spent about $20,000 when we first bought our house to add blinds and upgrade the outdoor landscaping. Also spent about $50,000 to remove two walls and redo the kitchen. In my opinion, buying the right house that you don’t later want to resell is the most important. $20-30,000 real estate transacti...
by dandinsac
Thu Apr 23, 2020 8:19 am
Forum: Personal Consumer Issues
Topic: Budget for Home Upgrades and Maintenance Reserve Fund?
Replies: 23
Views: 1308

Re: Budget for Home Upgrades and Maintenance Reserve Fund?

I spent about $20,000 when we first bought our house to add blinds and upgrade the outdoor landscaping. Also spent about $50,000 to remove two walls and redo the kitchen. In my opinion, buying the right house that you don’t later want to resell is the most important. $20-30,000 real estate transacti...
by dandinsac
Wed Apr 22, 2020 11:40 pm
Forum: Personal Consumer Issues
Topic: Moving to Sacramento, looking for advice on neighbourhoods, schools
Replies: 8
Views: 677

Re: Moving to Sacramento, looking for advice on neighbourhoods, schools

I live in Midtown about 2 miles from the Capital. No parking issues in Midtown as most areas have permitting for residents. We had some friends who live in River Park and like their school. It’s close to downtown, even by bicycle. Prices might be a bit higher as there aren’t too many apartments ther...
by dandinsac
Mon Apr 06, 2020 7:43 pm
Forum: Personal Investments
Topic: Considering Change on Retirement Strategy
Replies: 12
Views: 1373

Re: Considering Change on Retirement Strategy

I wouldn't remove money from your 401K to pay down any loans.

With interest rates at all time lows, consider refinancing to ideally shorten payoff times and lower your payments.

At age 50, you are eligible for catch up contributions, allowing you to defer more of your income pre-tax to your 401K.
by dandinsac
Thu Apr 02, 2020 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Home Buying
Replies: 5
Views: 1045

Re: Home Buying

You may want to consider getting a Home Equity Line of Credit or a short duration fixed rate mortgage if you want more flexibility in the next year or two. The line of credit would allow you to borrow for sudden expenses without tapping more of your investments. The mortgage would be more costly, bu...
by dandinsac
Wed Apr 01, 2020 9:22 am
Forum: Personal Investments
Topic: Use emergency fund to maintain investments?
Replies: 16
Views: 1341

Re: Use emergency fund to maintain investments?

OP, do you have bonds in your retirement account and if yes then take risk by going 100% equities instead of using EF to invest. Yes I do. That's a interesting approach that accomplishes much of what I was originally considering... How to buy more stocks to rebalance stock/bonds in the short term. ...
by dandinsac
Tue Mar 31, 2020 5:21 pm
Forum: Personal Investments
Topic: Use emergency fund to maintain investments?
Replies: 16
Views: 1341

Re: Use emergency fund to maintain investments?

Thanks all for your input. I’ve decided to “invest” only enough in the 401K to get the 50% match. That’s an easy decision for me. All the other IRA and 401K investments will stop since I can catch up later in 2020 if this gets resolved. We’ll still be a bit worse off, by about $300/month. Most of th...
by dandinsac
Tue Mar 31, 2020 8:54 am
Forum: Personal Investments
Topic: Use emergency fund to maintain investments?
Replies: 16
Views: 1341

Re: Use emergency fund to maintain investments?

What if you and your spouse are furloughed (laid off) completely, are in a car accident, and there is an earthquake/ tornado/ hurricane/ virus impact to you this year? You need to be prepared for more than one disaster in a year. If 20% results in about $28000 after tax drop i imagine you have scop...
by dandinsac
Mon Mar 30, 2020 10:37 pm
Forum: Personal Investments
Topic: Use emergency fund to maintain investments?
Replies: 16
Views: 1341

Use emergency fund to maintain investments?

I am in my mid-50's and was recently notified that my salary will be reduced by 20% due to uncertainty resulting from the pandemic. Others were furloughed, so I am fortunate! I estimate that this will lower my take home pay (after taxes, HSA, insurance, etc) by about $2300/month, before I make any 4...
by dandinsac
Mon Mar 30, 2020 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance
Replies: 7
Views: 928

Re: Mortgage Refinance

I would suggest looking for a no out-of-pocket cost refinance for 20 years. If the interest is low enough, your payment would be about the same. You keep most or all of the flexibility and save 2 years of payments.
by dandinsac
Mon Mar 30, 2020 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: How far can hours be reduced/pay cut without a furlough?
Replies: 11
Views: 1367

Re: How far can hours be reduced/pay cut without a furlough?

I’m not an expert, so feel free to correct my understanding. It depends on your location. If you are an exempt employee, then $684 per week (or $35,568 annually) is the minimum per this site https://www.wagehourinsights.com/2019/09/new-minimum-salary-for-exempt-employees-takes-effect-january-1-2020/...
by dandinsac
Mon Mar 16, 2020 8:07 pm
Forum: Personal Investments
Topic: Is this a sensible three-step transition toward 3-fund?
Replies: 2
Views: 174

Re: Is this a sensible three-step transition toward 3-fund?

Besides buying PREIX, can you buy a low cost money-market fund for the portion of your account that will eventually be in bonds? That way, you are getting your target allocation up front and then updating later to a bond ETF.
by dandinsac
Sat Mar 14, 2020 1:32 pm
Forum: Personal Investments
Topic: Pay more on mortgage
Replies: 26
Views: 1491

Re: Pay more on mortgage

I am considering to pay more mortgage every month to become debt free earlier instead of in debt for the next thirty years. How do you make the decision regarding pay more mortgage vs. invest more? Thanks! Interest rate: 3.15% 30 year fixed I am NOT prepaying my mortgage which I just refinanced @3....
by dandinsac
Fri Mar 06, 2020 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Help me with my refinance scenario
Replies: 11
Views: 767

Re: Help me with my refinance scenario

Triple digit golfer wrote: Wed Mar 04, 2020 10:07 pm On a refinance, how does my current loan get paid off? Check from title company directly to the original lender?

What about escrow balance with old lender?
The title company pays off the mortgage. Old lender returns escrow balance.
by dandinsac
Wed Mar 04, 2020 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Help me with my refinance scenario
Replies: 11
Views: 767

Re: Help me with my refinance scenario

It may make sense to pay down the existing mortgage by the $20K right away. You can save a little bit, (3.5% / 12 * 20000 = $60), as you figure out the refinance. Lenderfi.com has 25 year mortgages with no costs. That may be another alternative for you to consider. You do not need to unfreeze your c...
by dandinsac
Wed Mar 04, 2020 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Am I being lead down a bad road- Fixed Index Annuities
Replies: 44
Views: 2910

Re: Am I being lead down a bad road- Fixed Index Annuities

Should Wife take SS starting in June? We really don't need the money but she needs to retire- she deserves it Assuming your wife is in good health, it’s not worth taking social security until you either need it or when she reaches 70. You will get a higher payment, indexed for inflation. Social sec...
by dandinsac
Sat Feb 29, 2020 9:40 pm
Forum: Personal Investments
Topic: Parent's Retirement - Annuities, Seeking Advice
Replies: 14
Views: 1290

Re: Parent's Retirement - Annuities, Seeking Advice

They budget well (as far as I can tell), spend only 50% of their income, and don't have many expenses (apart from health insurance premiums, though they are both currently healthy). They have no debt and no mortgage. If they don’t need the money, you many not have to do anything. The key question i...
by dandinsac
Tue Feb 25, 2020 8:16 pm
Forum: Personal Investments
Topic: Advice Requested: LTCi or Paydown Mortgage
Replies: 23
Views: 955

Re: Advice Requested: LTCi or Paydown Mortgage

Current home value is $318k. ~21 years left on mortgage. ~20% equity. Fixed rate of 3.75% How about another option... 3) Research no cost refinancing to a 20 year mortgage. Since you have 21 years to go, you may be able to get a lower payment and interest rate which would have the mortgage paid off...