Search found 86 matches

by cashisking500
Sat Sep 12, 2020 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 29
Views: 2979

Re: How are we doing?

wander wrote: Sat Sep 12, 2020 2:29 pm No life insurance?
Yes, we have ample term life insurance
by cashisking500
Sat Sep 12, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 29
Views: 2979

Re: How are we doing?

z06ray wrote: Sat Sep 12, 2020 12:32 pm Eligible for HSA?

Why not max out your 401k? It doesn’t look like you are taking advantage of all eligible space
Yes, I am. I'm currently putting $70 per paycheck into HSA. Should I consider maxing that (or as close to as possible?)
by cashisking500
Sat Sep 12, 2020 10:53 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 29
Views: 2979

Re: How are we doing?

Thanks. You bring up a good point that I should have included. $11,000 of our $82,000 cash is in invested in a 3 fund portfolio at Vanguard. $10,000 is sitting in a boring Chase savings account and the rest is in a high-yield (haha) savings account.
by cashisking500
Sat Sep 12, 2020 10:41 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 29
Views: 2979

How are we doing?

I like to check in occasionally with this group, as I great value your input/opinions. Because of this site, we have made a lot of positive moves with our money and it's time to see how we're doing! Me: 36 years old, Wife: 36 years old One 2-year old child Mortgage: $1735/mo @ 2.875%, 30 years (just...
by cashisking500
Tue May 26, 2020 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: For EF "months", are we including unemployment benefits & stated severance policies? And both parts of a couple?
Replies: 19
Views: 1188

Re: For EF "months", are we including unemployment benefits & stated severance policies? And both parts of a couple?

Coming at this as someone who was furloughed for 6 weeks during the pandemic (now happily back to work), we fortunately did not touch a dime of our emergency fund during my furlough. We have approximately $90,000 in cash savings ($60,000 represents one year of expenses) currently. Between unemployme...
by cashisking500
Thu Apr 30, 2020 6:30 am
Forum: Personal Finance (Not Investing)
Topic: What to do with extra money?
Replies: 20
Views: 1847

Re: What to do with extra money?

Yes, the $60,000 covers if both of us were out of work. The only thing it doesn’t cover is our Roth IRA contribution each month. My wife is in the healthcare field, so less likely she will lose her job. I project we will have $88,000 sitting in high yield savings. Approx. $60,000 represents one year...
by cashisking500
Wed Apr 29, 2020 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with extra money?
Replies: 20
Views: 1847

Re: What to do with extra money?

Thanks everyone. All good points and lots to consider.
by cashisking500
Wed Apr 29, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: What to do with extra money?
Replies: 20
Views: 1847

Re: What to do with extra money?

Thanks, Theorist. Yes, we both regularly contribute to 401K’s with our jobs.
by cashisking500
Wed Apr 29, 2020 11:47 am
Forum: Personal Finance (Not Investing)
Topic: What to do with extra money?
Replies: 20
Views: 1847

What to do with extra money?

I hope all the BH community is staying healthy! I am currently on furlough from my job due to Covid 19 and will hopefully be back to work no later than the end of May. My wife has continued to work full time, being paid at 100% during this time. Between her take home pay and unemployment money, we h...
by cashisking500
Wed Jan 08, 2020 4:16 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1866
Views: 238152

Re: Net Worth Milestone

Thanks guys! A question for the group...when did you feel like your net worth really started climbing quickly? Was there a specific $$ milestone or point where it seemed to grow almost automatically?
by cashisking500
Wed Jan 08, 2020 3:54 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1866
Views: 238152

Net Worth Milestone

[Merged into the ongoing discussion -- moderator oldcomputerguy] Since this is the only group I can comfortably talk about this stuff with, I realized today that my wife and I have crossed the $300,000 net worth mark at age 36. We have a ways to go to get to the level that some of you all are at ar...
by cashisking500
Fri Jan 03, 2020 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Question
Replies: 7
Views: 656

Re: Mortgage Refinance Question

OP, Back in early December you were asking about paying off a 0% car loan and had $68K in savings. If you chose not to pay the car loan and still have the cash can you reduce the principle enough? As another poster stated and asked. You need 80% loan balance to value. Do you have any appreciation? ...
by cashisking500
Fri Jan 03, 2020 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Question
Replies: 7
Views: 656

Re: Mortgage Refinance Question

If we stay the course, we will have PMI cleared in October of 2026
by cashisking500
Fri Jan 03, 2020 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance Question
Replies: 7
Views: 656

Mortgage Refinance Question

I am looking for some advice on whether or not to refinance to an up-front PMI mortgage. We are currently in a 30-year conventional mortgage with PMI... Current mortgage: - PI is $1561 per month - 3.75%, 30 year conventional mortgage (29 years to go!) - PMI is $79 per month, scheduled to fall off in...
by cashisking500
Fri Dec 20, 2019 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Introduced to Bogleheads today coming from the Dave Ramsey world and looking for general input on my current situation
Replies: 101
Views: 10479

Re: Introduced to Bogleheads today coming from the Dave Ramsey world and looking for general input on my current situati

Welcome to the community! As someone that has followed Dave's get out of debt principles, I think he does a great job. I've learned A LOT about personal finance and debt by listening to his show. He's never made a penny from me. I can confidently say that my family and I would not be in the good fin...
by cashisking500
Thu Dec 05, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off major debt?? Or do something else??
Replies: 12
Views: 1542

Re: Pay off major debt?? Or do something else??

Admittedly, I'm more debt adverse than others on here, but knowing you have $770,000 sitting there, I would consider clearing up the loan, purchasing a home (assuming you're not looking to spend too much here) and buying into the practice with this money if its possible. You're young...and having no...
by cashisking500
Fri Nov 22, 2019 10:16 am
Forum: Personal Consumer Issues
Topic: Gas furnace with heat pump - most cost efficient?
Replies: 27
Views: 1237

Re: Gas furnace with heat pump - most cost efficient?

Typically, heat pumps are most efficient down to 30-40 degrees F. After that, they start utilizing the electric strip heaters instead of heating the air they're pulling in from the outside. I've owned two homes with heat pumps and never felt like either kept the house as warm as it should. I now hav...
by cashisking500
Thu Nov 07, 2019 3:28 pm
Forum: Personal Consumer Issues
Topic: Madza CX-5 2018 vs 2019
Replies: 14
Views: 1162

Re: Madza CX-5 2018 vs 2019

My wife and I are on our second Mazda CX-5 (a 2018). We love this one and the last one we had. Great vehicle for the money.
by cashisking500
Tue Oct 15, 2019 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Switching Roth 401K to Traditional 401K
Replies: 6
Views: 829

Switching Roth 401K to Traditional 401K

Hello, This may be a basic question, but I want to confirm I understand what I'm doing. I believe we have determined it would make more sense for my wife's 401K to be Traditional and not Roth. It has been Roth for years and has about $30,000 in it. A few questions... - We don't pay any taxes if we s...
by cashisking500
Mon Sep 30, 2019 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing? Need your input, please
Replies: 10
Views: 1505

Re: How are we doing? Need your input, please

I would immediately stop all Roth contributions. I would make sure you max out your HSA. This is money going in tax free and then coming out tax free. This is better than a Roth. Also, at your tax bracket, and current savings rate the odds of you being in a higher bracket in retirement is very unli...
by cashisking500
Mon Sep 30, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing? Need your input, please
Replies: 10
Views: 1505

Re: How are we doing? Need your input, please

Will either have pensions? (If not) I would switch her 401k to pre-tax and bump up the percentage. You don't say if your 401k is pre-tax or Roth. $19k to pre-tax 401ks and $12k to Roth IRAs is a great target goal for the floor of savings. I like the combination of pre-tax + Roth. Defer the tax to 3...
by cashisking500
Mon Sep 30, 2019 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing? Need your input, please
Replies: 10
Views: 1505

Re: How are we doing? Need your input, please

Thanks to everyone for their input. Lots of good options to consider.
by cashisking500
Mon Sep 30, 2019 11:07 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing? Need your input, please
Replies: 10
Views: 1505

How are we doing? Need your input, please

Based on input/recommendations from those on this forum, my wife and I have made several adjustments to our financial picture. Thank you for that. Now that we've made some changes, I'd like some feedback on how we are doing and what we can still do better? Thank you! Age: 36, 35 Monthly Net Income: ...
by cashisking500
Tue Aug 27, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off 0% car loan early
Replies: 52
Views: 3043

Re: Paying off 0% car loan early

I think I have my answer! Haha. Wow!
by cashisking500
Tue Aug 27, 2019 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off 0% car loan early
Replies: 52
Views: 3043

Paying off 0% car loan early

I'm sure many Bogleheads will be shaking their heads at me while reading this, but I'm going to ask anyway. We have $13,500 left on a 0% interest car loan (14 months into a 60 month loan). We have $68,500 in our savings account, earning 2% interest. This is our only debt outside of our mortgage and ...
by cashisking500
Tue Aug 06, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Sold Home - $300,000 Profit - Invest or Pay Cash For New House?
Replies: 58
Views: 5998

Re: Sold Home - $300,000 Profit - Invest or Pay Cash For New House?

Buy the next house with cash and be debt free. It’ll change your life.
by cashisking500
Tue Jul 30, 2019 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: $70,000 saved up, what's next?
Replies: 7
Views: 1036

Re: $70,000 saved up, what's next?

Thanks to everyone for your help!
by cashisking500
Tue Jul 30, 2019 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: $70,000 saved up, what's next?
Replies: 7
Views: 1036

Re: $70,000 saved up, what's next?

Thanks for quick reply, bloom! You raise some interesting points for sure that I'll consider. I specifically like the options to either "pre-fund" the Roth for next year and free up some cash flow or possibly put it into our 401K's. We currently contribute 16% of gross household income to ...
by cashisking500
Tue Jul 30, 2019 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: $70,000 saved up, what's next?
Replies: 7
Views: 1036

$70,000 saved up, what's next?

My wife and I have $70,000 sitting in a high yield savings account (2.08%) currently. Approximately $35,000 of this represents 6 months of expenses for us - for clarification, our monthly expenses include maxing out two Roth IRA's. I can't help but wonder if the excess funds ($35,000) are best used ...
by cashisking500
Wed Jul 03, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Big Hospital Bill - Any way to negotiate ?
Replies: 130
Views: 9408

Re: Big Hospital Bill - Anyway to negociate ?

I recently went through the same situation, with a $4,000 bill for the birth of our daughter. Right off the bat, the hospital offered us a 10% discount if we paid in full. After discussion and pushing on them a bit, they knocked off another $500 on top of the 10%. We accepted this and paid in full w...
by cashisking500
Tue Jul 02, 2019 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Feels like never enough in savings?
Replies: 27
Views: 3245

Re: Feels like never enough in savings?

Thanks everyone. Lots of great advice here.
by cashisking500
Mon Jul 01, 2019 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Feels like never enough in savings?
Replies: 27
Views: 3245

Re: Feels like never enough in savings?

Thanks for the feedback, Bully. I've thought about taking $14,000 of the $65,000 and paying off my wife's car. It's a 0% loan though, so I don't feel like I'm benefiting much if I do that. I'm also interested in purchasing a riding lawn mower (approx $2,000) and a fence for our yard (not sure of cos...
by cashisking500
Mon Jul 01, 2019 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Feels like never enough in savings?
Replies: 27
Views: 3245

Re: Feels like never enough in savings?

Great points, jeg! I guess I haven't looked at it like that. Yes, I have another 6 months in Roth and much like you, another 4 months in credit cards if things got REALLY bad. I feel like I have a savings sickness! Ha!
by cashisking500
Mon Jul 01, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Feels like never enough in savings?
Replies: 27
Views: 3245

Feels like never enough in savings?

My wife and I currently have $65,000 in our savings account (mostly in high yield savings, earning 2.10%). We are maxing out our Roth IRA's, contributing 10%/5% respectively to 401K's (not including match) and putting $250 per month into our daughter's 529 plan. Why do I feel like it's never enough?...
by cashisking500
Mon Jun 24, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 226
Views: 43692

Re: Cash - Throw it all on the table!!!

Currently about $65,000 in savings account. We plan to use some of this to pay down our mortgage. A $30,000 e-fund seems more than sufficient for us, which represents about 6 months of expenses.
by cashisking500
Wed Jun 12, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: What should we do next?
Replies: 13
Views: 1482

Re: What should we do next?

I just updated our contributions to reflect the changes we've made today based on the great feedback from those here. We are now maxing out my wife's Roth IRA and added $50 more per month to our daughter's 529!
by cashisking500
Wed Jun 12, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: What should we do next?
Replies: 13
Views: 1482

Re: What should we do next?

Excellent suggestions. I am going to increase our daughter's 529 contribution now. I'll take a look at the 401K today as well. Thanks all!
by cashisking500
Wed Jun 12, 2019 8:04 am
Forum: Personal Finance (Not Investing)
Topic: What should we do next?
Replies: 13
Views: 1482

Re: What should we do next?

Thanks to everyone for their suggestions. Last night, I bumped up my wife's Roth IRA contribution....so now we are both maxing it out. I'll look at the 401K next to see what adjustments we might be able to make there. At what point should I contribute more to my HSA?
by cashisking500
Tue Jun 11, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: What should we do next?
Replies: 13
Views: 1482

What should we do next?

Bogleheads, Below is a snapshot of our current financial situation. After all bills are paid and current contributions (listed below) are made, we have about $2,000 left over each month. We are both 35 years old, have one child (9.5 months), currently contribute 15% of gross income to retirement and...
by cashisking500
Tue May 28, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance question
Replies: 5
Views: 649

Health Insurance question

Hello! My wife and I welcomed our first child back in August of 2018. All of my wife's medical bills from the delivery went through her insurance, as they were supposed to. The baby's medical bills should have gone through my insurance, but were originally incorrectly billed by the hospital to my wi...
by cashisking500
Fri Mar 29, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Refinance immediately following closing on home
Replies: 6
Views: 575

Refinance immediately following closing on home

My wife and I will be closing on a new home in late April. We selected the home builder's lender, as they offered over $6,000 in closing costs - which covers all of our closing costs. The "catch" with this is that they are only offering a 4.375% rate on a 30 year mortgage. Bankrate and oth...
by cashisking500
Thu Mar 28, 2019 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Home sale proceeds
Replies: 5
Views: 532

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!
by cashisking500
Thu Mar 28, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Home sale proceeds
Replies: 5
Views: 532

Home sale proceeds

Hi All! We have an accepted offer on our home and will be moving to a new home in late April. We have saved up for the down payment of the new home in a separate fund. After paying for movers, a few new furnishings for the new home and a little bit of medical debt from a recent surgery, we will be l...
by cashisking500
Sun Mar 17, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Housing should be no more than 28% of your income.
Replies: 66
Views: 7283

Re: Housing should be no more than 28% of your income.

Just purchased a new home. It will be 17% of gross monthly income and 25% of net monthly income. That’s the max I’m comfortable with.
by cashisking500
Wed Jan 09, 2019 4:38 pm
Forum: Personal Investments
Topic: Transferring IRA funds as result of divorce
Replies: 6
Views: 606

Transferring IRA funds as result of divorce

Hello. I’m hoping you all can help me. My parents recently divorced and a portion of my father’s IRA is owed to my mother as part of the settlement. A few questions, as I’m just not familiar with this: - Should my mother open an IRA for this money to be deposited into? She currently just has an empl...
by cashisking500
Sun Dec 30, 2018 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Contributing too much to a 529?
Replies: 43
Views: 4086

Contributing too much to a 529?

My wife and I welcomed our first child back in August this year. In September, we opened a 529 for her. A couple of family members have contributed to it already and we are putting $200 per month into it ourselves. Currently, there is approx. $2300 in the account. Our plan is to fund our daughter’s ...
by cashisking500
Thu Nov 29, 2018 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Buying with no interest
Replies: 22
Views: 2236

Re: Buying with no interest

For these types of purchases, I typically use my credit card to get the points/cashback and then pay it off when it comes due. I hate having payments, so I very rarely finance things if I can help it.
by cashisking500
Mon Nov 19, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Need a financial check up
Replies: 10
Views: 1332

Need a financial check up

Hey Bogleheads, You all have been very helpful over the years with advice about personal finance. It's been awhile since I've checked in and am hoping you can once again help me by guiding me a bit on what we should be doing next with our finances. Married, one child, we both work full-time. Here's ...