Search found 76 matches

by Planner01
Wed Nov 13, 2019 6:48 am
Forum: Personal Investments
Topic: SIL retirement puzzle
Replies: 49
Views: 3433

Re: SIL retirement puzzle

My MIL retired around the same age with less. $350k in retirement savings which she put in an annuity and then started collecting spousal widow SS. She bought a house in cash for $132k and it’s living comfortable. She definitely has to budget as money is a little tight but doable. So maybe if your S...
by Planner01
Sat Nov 09, 2019 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: If I Knew Then What I Know Now
Replies: 115
Views: 50739

Re: If I Knew Then What I Know Now

I just had my teen child read this and it was very much enjoyed.
by Planner01
Fri Nov 08, 2019 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Is there any worth to an HSA if you have very strong health insurance?
Replies: 7
Views: 997

Re: Is there any worth to an HSA if you have very strong health insurance?

I rarely have any medical expenses and when I do I pay out of pocket. I use the HSA as a supplement to my retirement investments. It goes in pre-tax, it grows tax free. If you wait until you retire to withdraw, the money doesn’t have to be used for only medical expenses. What’s not to like? With the...
by Planner01
Fri Nov 08, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Need to separate biz transactions from personal -- do we need a biz checking account?
Replies: 18
Views: 853

Re: Need to separate biz transactions from personal -- do we need a biz checking account?

Right now Chase is offering a $500 bonus for the basic checking account. If you keep $1500 in it, it’s free.
by Planner01
Sun Oct 20, 2019 6:54 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 1082
Views: 120464

Re: What frugal thing did you do today?

I bought Pledge and shower gel at the dollar store. A lot cheaper than Target or the grocery store. The soap is even cheaper (per ounce) than Costco!
by Planner01
Sun Oct 20, 2019 7:03 am
Forum: Personal Investments
Topic: How much to hold in cash?
Replies: 54
Views: 8055

Re: How much to hold in cash?

I hold 7 months worth of expenses. Not designed specifically that way, just picked a nice round number I liked to keep in a liquid high yield savings accts. Plus yearly vacation fund and new car fund.
by Planner01
Sat Oct 12, 2019 6:40 pm
Forum: Personal Consumer Issues
Topic: Washer/Dryer shopping: Best Buy cheaper than Costco
Replies: 20
Views: 1556

Re: Washer/Dryer shopping: Best Buy cheaper than Costco

carolinaman wrote:
Sat Oct 12, 2019 3:39 pm
Costco had early release of their Black Friday ad last year on 10/27, and it is speculated it will be released this year in same time frame. See other stores in this link:
https://blackfriday.com/news/black-frid ... redictions
Awesome, thank you!
by Planner01
Sat Oct 12, 2019 6:31 pm
Forum: Personal Consumer Issues
Topic: What workout equipment to get?
Replies: 63
Views: 4706

Re: What workout equipment to get?

I have a treadmill, adjustable weights, a medicine ball, a weight ball, kettlebells, a rolling foam for stretching and resistance bands.
by Planner01
Sat Oct 12, 2019 1:53 pm
Forum: Personal Consumer Issues
Topic: Washer/Dryer shopping: Best Buy cheaper than Costco
Replies: 20
Views: 1556

Re: Washer/Dryer shopping: Best Buy cheaper than Costco

I think that considering Costco’s generous return policy and the extended 2-year warranty we might go with them. Also hoping to score a nice discount during Black Friday as they would honor that discount as long as it’s within the 30 day purchase time frame. Also Costco will install the appliances a...
by Planner01
Sat Oct 12, 2019 7:22 am
Forum: Personal Consumer Issues
Topic: Washer/Dryer shopping: Best Buy cheaper than Costco
Replies: 20
Views: 1556

Washer/Dryer shopping: Best Buy cheaper than Costco

Our laundry appliances are on their last legs. We are going to try to make them work until the end of this month to be within Costco’s 30 price adjustment policy, in the event we can find them for less on Black Friday or Cyber Monday. I found the same pair https://www.bestbuy.com/site/combo/washer-d...
by Planner01
Sat Oct 12, 2019 6:15 am
Forum: Personal Investments
Topic: Will the 2020 Mega Backdoor Roth 401k increase?
Replies: 2
Views: 652

Will the 2020 Mega Backdoor Roth 401k increase?

Since the HSA and 401k max contribution limits are set to increase next year, any chance that the Mega Backdoor Roth 401k limit will increase too from $56k?
by Planner01
Tue Oct 01, 2019 7:36 pm
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 108
Views: 9923

Re: Who has had a pool?

We live in the South where pools are almost standard for a home. We have a pool in our current house and every house we have owned had a pool. In fact we built two of the pools for those homes. They have all been in-ground, with jacuzzi built in. Our current pool is 15 by 45 ft long. Speaking of ROI...
by Planner01
Tue Oct 01, 2019 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: New job and dislike it ... go back to old employer?
Replies: 43
Views: 4602

Re: New job and dislike it ... go back to old employer?

I must agree with those that say don’t go back. Doesn’t sound like anything will improve. People say things when they want something from you and then don’t deliver. Stay at the new job and find someone to carpool. Make friends to make it enjoyable and by the way cut some of that commute time. Cash ...
by Planner01
Tue Oct 01, 2019 3:03 pm
Forum: Personal Investments
Topic: VTI now has lower fees than VTSAX
Replies: 30
Views: 3708

Re: VTI now has lower fees than VTSAX

I see.... thank you for your replies. I am learning and wasn’t aware of the other differences between the funds.
by Planner01
Tue Oct 01, 2019 2:54 pm
Forum: Personal Investments
Topic: VTI now has lower fees than VTSAX
Replies: 30
Views: 3708

Re: VTI now has lower fees than VTSAX

Even if it’s meaningless, why would anyone pay more than necessary? Please educate me.
by Planner01
Tue Oct 01, 2019 2:43 pm
Forum: Personal Investments
Topic: VTI now has lower fees than VTSAX
Replies: 30
Views: 3708

VTI now has lower fees than VTSAX

Vanguard lowered the fees for its Total Stock Market ETF find, VTI at .03%. Makes me wonder why would I want to keep my funds on VTSAX since the fees are .04%. Am I missing anything?
by Planner01
Mon Sep 30, 2019 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Laid off, but going to be OK! A thank you post.
Replies: 16
Views: 4259

Re: Laid off, but going to be OK! A thank you post.

So proud of you!!! You are what we all wish we could have been in our 20s and what we hope our children one day would understand.

Well done. Keep going!
by Planner01
Sat Sep 28, 2019 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Staying the course is so hard (support thread)
Replies: 141
Views: 15120

Re: I feel guilty spending my money!

Ahhh the power of compounding interest x time. Your time is on the shorter time, that’s why the growth is not as much as what you’d expect. I have the same problem, although my numbers are no where near yours, the concept is the same. What I do is to automate all of my investments/savings every mont...
by Planner01
Fri Sep 27, 2019 6:48 pm
Forum: Personal Consumer Issues
Topic: Lend my car or pay for rental?
Replies: 16
Views: 1766

Lend my car or pay for rental?

A relative of mine is retired and likes to visit the state where I live as many of our other relatives live here - a bit scattered but within 1.5-2hrs of each other. During the week she will be visiting I will be on a business trip and originally I told her that maybe she could take my car while I a...
by Planner01
Mon Sep 23, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?
Replies: 6
Views: 521

Re: Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?

I think your logic is correct. Thank you. I have been struggling with the decision on whether to add it to my work after 401k or a back door Roth. The main difference is that with the backdoor Roth the convention takes place very quickly > less taxes on the earnings. While the mega backdoor Roth th...
by Planner01
Mon Sep 23, 2019 5:37 am
Forum: Personal Finance (Not Investing)
Topic: Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?
Replies: 6
Views: 521

Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?

For 2019 I will be able to max my 401k with $19k like I do every year but only add an extra $6k to either a Roth 401k (through the backdoor) or add that money to my 401k in plan Roth conversion/Mega Backdoor Roth which allows me to convert every 12 months (my case July). I can add that money before ...
by Planner01
Wed Sep 18, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 229
Views: 20957

Re: Paying "early" on mortgage may be unwise

We definitely want to pay our mortgage early. My dream to have it paid off in the next 5 years but realistically it might take us 8. At this point we are maximizing our contribution in our 401k, HSA, Roth and 401k after tax (Roth conversion). But at the same time are doubling the mortgage payment an...
by Planner01
Wed Sep 18, 2019 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Never assume the banks calculate balances correctly
Replies: 12
Views: 1753

Never assume the banks calculate balances correctly

For a few months now I’ve been monitoring our mortgage loan account because of misapplied payments. I also started auditing the account and recently noticed that after the payment gets applied and the interest gets deducted the balance does not add up correctly. Of course in their favor. I called th...
by Planner01
Sun Sep 15, 2019 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Creating an amortization mortgage loan schedule in excel
Replies: 10
Views: 948

Re: Creating an amortization mortgage loan schedule in excel

I know there are online calculators for this but I want to keep the record in Excel to make regular adjustments. You had it in Excel all along: 1. Open a new sheet in Excel 2. Right click the "sheet1" tab 3. "Insert" --> "Spreadsheet solutions" --> "Loan Amortization" :happy I never knew that exist...
by Planner01
Sat Sep 14, 2019 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Creating an amortization mortgage loan schedule in excel
Replies: 10
Views: 948

Creating an amortization mortgage loan schedule in excel

Has anyone does this? I need help. I want to create one for our mortgage to see how making extra payments (monthly amount might fluctuate) would impact the payoff of the loan.

I know there are online calculators for this but I want to keep the record in Excel to make regular adjustments.
by Planner01
Sat Sep 14, 2019 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Move up in house?
Replies: 25
Views: 2793

Re: Move up in house?

20% of gross pay is not terrible, especially if you are young and your income will probably only going up as they years go by. I say go for it!
by Planner01
Fri Sep 13, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Move up in house?
Replies: 25
Views: 2793

Re: Move up in house?

It really depends on the numbers. The total net worth of a couple at 25 is very different than at 45. We are in our mid 40s and buying a house close to our total net worth would not even be imaginable. At this point our goal is to pay off the house by the time I am 50. But if we were 25, that would ...
by Planner01
Fri Sep 13, 2019 7:02 pm
Forum: Personal Consumer Issues
Topic: Need gift ideas for my parents
Replies: 18
Views: 1344

Re: Need gift ideas for my parents

A top of the line coffee/cappuccino maker. Or a nice set of diamond earrings for mom and a watch for dad.
by Planner01
Fri Sep 13, 2019 9:32 am
Forum: Personal Investments
Topic: Big swing in ROI, very volatile
Replies: 13
Views: 757

Re: Big swing in ROI, very volatile

mhc wrote:
Fri Sep 13, 2019 8:26 am
The arithmetic mean can be misleading. The geometric mean is more usefull when compounding is involved.
I just learned about this, makes total sense!

Yes, the returns include dividends (forgot about that), and I do have some allocated to international but it’s less than 15%.
by Planner01
Fri Sep 13, 2019 8:04 am
Forum: Personal Investments
Topic: Big swing in ROI, very volatile
Replies: 13
Views: 757

Big swing in ROI, very volatile

I noticed that my returns the past 5 years have been very volatile. 2015: -12.27% 2016: 18.40% 2017: 25.47% 2018: -13.53% 2019: YTD 30.05% On average it’s 9.78% Yes I am all in equity investments, no bonds. I am wondering if these returns are “normal” for those years. I have 20 more years until I re...
by Planner01
Mon Sep 02, 2019 6:11 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 2519
Views: 464143

Re: What are you up YTD? [Year To Date]

I had a 13% loss last year. Thankfully I am making up for it this year. YTD at 28% ROI. My investments are all in growth and aggressive mutual funds. 100% Equity.
by Planner01
Sun Sep 01, 2019 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: When was the most stressful financial time in your life?
Replies: 142
Views: 22508

Re: When was the most stressful financial time in your life?

This us a great thread. Helps to learn from other’s experience. My most difficult financial time have been the first 15 years of my marriage to my husband. We had joint accounts. He’s a spender and I am a saver. Although I’ve always made less than him, I am a really good budgeter. For years we tried...
by Planner01
Fri Aug 30, 2019 4:17 am
Forum: Personal Consumer Issues
Topic: Giving the DMV my SS # - safe?
Replies: 24
Views: 2060

Re: Giving the DMV my SS # - safe?

Thank you for your responses. I no longer have to worry.
by Planner01
Thu Aug 29, 2019 8:01 pm
Forum: Personal Consumer Issues
Topic: Giving the DMV my SS # - safe?
Replies: 24
Views: 2060

Giving the DMV my SS # - safe?

For a few years now I’ve been worried about a mistake I think I made when I had to renew my license. They asked for proof of residence: utility bill or paystub. I pay all my bills online so I didn’t have a copy of any of my house bills. I resorted to giving them a copy of my W2. It wasn’t until I wa...
by Planner01
Thu Aug 29, 2019 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: While there is a high school question - my daughter wants to graduate early
Replies: 76
Views: 3918

Re: While there is a high school question - my daughter wants to graduate early

I was in college by 16, that was no fun. But I was used to it since I started school at 3. I was always the little girl in class - academically I could handle it, I was an honor roll strident and socially it was okay. UNTIL I got to college! I won’t go until details but I was depressed, no one wante...
by Planner01
Fri Aug 23, 2019 5:32 am
Forum: Personal Consumer Issues
Topic: Mortgage extra payment applied in error
Replies: 24
Views: 1734

Re: Mortgage extra payment applied in error

I have this issue every single month as PNC does not have the capability (truly they can’t, I’ve talked to their EVL about this) to make principal payments from an external (nonPNC) account. Even if going into the branch and handing them a check) I have to call every month and have them fix it. I wo...
by Planner01
Fri Aug 23, 2019 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Do you categorize additional contribution to debt repay as saving?
Replies: 101
Views: 3965

Re: Do you categorize additional contribution to debt repay as saving?

If paying loans and credit cards count as “savings” because they increase your net worth, then nothing is categorized as “debt repayment.” To me debt repayment is just that, money that goes towards the payoff of your debt.
by Planner01
Thu Aug 22, 2019 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Do you categorize additional contribution to debt repay as saving?
Replies: 101
Views: 3965

Re: Do you categorize additional contribution to debt repay as saving?

The principal payments we make on our mortgage (only debt) I categorize it as debt repayment. I don’t see a house as an investment because I do have to live somewhere. Yes, one day we will downsize from our 4200sq ft house and when we do we might move to a nicer neighborhood and a smaller house.
by Planner01
Thu Aug 22, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: American Express Personal Savings rate dropping from 2.10% to 1.90% tomorrow (08.22.19)
Replies: 19
Views: 1846

Re: American Express Personal Savings rate dropping from 2.10% to 1.90% tomorrow (08.22.19)

I also have an Amex savings account and although not thrilled with the new returns, I will accept it as this is emergency money that I am not planning on investing. It will sit in a boring account hopefully making enough to keep up with inflation.
by Planner01
Thu Aug 22, 2019 2:42 pm
Forum: Personal Consumer Issues
Topic: Receiving free extras that I did not ask for
Replies: 9
Views: 1887

Re: Receiving free extras that I did not ask for

This happened to us with our child’s uniform online order. We ended up with twice as many uniforms than we needed. When we called them to tell them about it, they told us to just keep it as a courtesy thank you for the inconvenience. I ended up taking it to the local store and exchanging it for the ...
by Planner01
Wed Aug 21, 2019 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Young Professionals ... Pay Student Loan or ???
Replies: 10
Views: 1018

Re: Young Professionals ... Pay Student Loan or ???

I would advice to fund 401Ks up to match, then the backdoor IRA (easy to do since they have high income) and with the rest of their money put it towards the payoff of their student loan. Aggressively paying them down. After that the freedom of not having that payment can give them the flexibility to...
by Planner01
Tue Aug 13, 2019 1:42 pm
Forum: Personal Investments
Topic: How to plan for a possible early retirement?
Replies: 7
Views: 1127

Re: How to plan for a possible early retirement?

delamer wrote:
Tue Aug 13, 2019 1:23 pm
You need to familiarize yourself with IRS Rule 72(t): https://www.investopedia.com/terms/r/rule72t.asp

Your money isn’t trapped.
Ha!!! Never knew this was possible 🤔😊
by Planner01
Tue Aug 13, 2019 1:19 pm
Forum: Personal Investments
Topic: How to plan for a possible early retirement?
Replies: 7
Views: 1127

How to plan for a possible early retirement?

How do people retire early without tapping into retirement funds? It occurred to me that although I have been planning on retiring at 60, which is almost 2 decades away, that maybe I should stop putting so much money away in investments that “trap” my money until I am 60. What if I later decide to r...
by Planner01
Mon Aug 12, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: HSA investing fee (PayFlex)
Replies: 22
Views: 1595

Re: HSA investing fee (PayFlex)

We use another company for my employer’s HSA and they disclose a $2.50/month fee to use the investment platform. I think my employer pays for it.
by Planner01
Mon Aug 12, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Buying a car, does it make sense to use 401k loan instead of an auto loan?
Replies: 37
Views: 2894

Re: Buying a car, does it make sense to use 401k loan instead of an auto loan?

Use your cash to buy the car and delay the purchase of the house until you can replenish the savings. Or if you must buy the house soon, then take the car loan and pay it off as fast as possible. Don’t use a 401k loan, you will miss out on the earnings which will be a lot more than the interest you ...
by Planner01
Sun Aug 11, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: How should my Spouse and I handle a $300,000 Settlement?
Replies: 119
Views: 7365

Re: How should my Spouse and I handle a $300,000 Settlement?

Dave Ramsey's Financial Peace University: Attend it with your wife. It can help get you and your wife get on the same page, help prioritize spending, help set financial goals and a plan to reach them. It is hokey - don't let that put you off. It can help you and your wife. https://www.daveramsey.co...
by Planner01
Wed Aug 07, 2019 11:24 am
Forum: Personal Consumer Issues
Topic: Worth it to upgrade to Main Cabin Extra?
Replies: 76
Views: 4146

Re: Worth it to upgrade to Main Cabin Extra?

DH thinks that if I upgrade my seat I will be stuck with an extra large person next to me, since those type of seats are most comfortable for larger people. Based on my experience as a frequent flier who always chooses exit row if flying in coach, this is very unlikely for a couple of reasons: 1) a...
by Planner01
Wed Aug 07, 2019 6:34 am
Forum: Personal Consumer Issues
Topic: Worth it to upgrade to Main Cabin Extra?
Replies: 76
Views: 4146

Re: Worth it to upgrade to Main Cabin Extra?

I called the AA rep this morning and he found a discounted premium economy seat for $174. I immediately upgraded my seat. I think is a good deal. I see the difference now. Unfortunately the discounted rate was only for the return flight. The outbound flight was a difference of $1100. Not doing that....
by Planner01
Tue Aug 06, 2019 8:25 pm
Forum: Personal Consumer Issues
Topic: Worth it to upgrade to Main Cabin Extra?
Replies: 76
Views: 4146

Re: Worth it to upgrade to Main Cabin Extra?

I am flying on American Airlines.