Search found 218 matches

by Planner01
Thu Aug 06, 2020 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Umbrella: Significant Increase in Premium
Replies: 19
Views: 1592

Re: GEICO Umbrella: Significant Increase in Premium

Maybe GEICO's umbrella policies had increases due to GEICO's 15% reduction to the following, "We're offering a 15% policy credit to new and existing auto, motorcycle, and RV policyholders on 6-month and 12-month polices until October 7, 2020." https://www.geico.com/about/coronavirus/ Francis Our ve...
by Planner01
Thu Aug 06, 2020 4:29 pm
Forum: Personal Consumer Issues
Topic: Silk or Satin pillowcase (smoothness important)
Replies: 13
Views: 810

Re: Silk or Satin pillowcase (smoothness important)

Silk. I got two cases on our last trip to Asia a few years ago where we visited a silk factory. It’s heaven! Great for hair and skin. I do hear that Mulberry has good, quality ones that you can order online. Although I have not personally tried them. https://www.nordstrom.com/s/slip-pure-silk-pillow...
by Planner01
Thu Aug 06, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Umbrella: Significant Increase in Premium
Replies: 19
Views: 1592

Re: GEICO Umbrella: Significant Increase in Premium

I have an umbrella policy with Geico for $1M, as well as the cars, and home. I was paying $200 for the year. The new premium as of September when it renews is $362!
I called Amica and they gave me a lower quote for the cars and $250 for the umbrella policy.
by Planner01
Wed Aug 05, 2020 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE with major medical costs?
Replies: 34
Views: 2221

Re: FIRE with major medical costs?

Would you consider working part time for the benefits in an area that you enjoy?
by Planner01
Sun Aug 02, 2020 6:43 pm
Forum: Personal Investments
Topic: Which bond investment option to use?
Replies: 3
Views: 256

Re: Which bond investment option to use?

You guys are the best, thank you so much!!!
by Planner01
Sun Aug 02, 2020 6:36 pm
Forum: Personal Investments
Topic: Which bond investment option to use?
Replies: 3
Views: 256

Which bond investment option to use?

I am in my very early 40s and 100% stock: 60% S&P, 40% Small/Mid Cap. I want to start putting some money into bonds but I am not sure which is the best option: - High Yield Fund (.47 Expense Ratio) 3.77 ROI Since Inception - Broad Market Fund (.05 Expense Ratio) 3.80 ROI Since Inception - TIPS (.03 ...
by Planner01
Sat Aug 01, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: To rent out, or to sell?
Replies: 20
Views: 1352

Re: To rent out, or to sell?

Following the 1% rule, this property would not rent for enough to cover all your bags long term.

Sell.
by Planner01
Wed Jul 29, 2020 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone get their 5498 for tax year 2019
Replies: 22
Views: 1996

Re: Anyone get their 5498 for tax year 2019

I just got the notification of this form from Vanguard for the Roth 2019 conversion. What am I supposed to do with it? Roth’s don’t have the RMD, so what’s the use of printing the form?
by Planner01
Tue Jul 28, 2020 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Ready to Buy 1st House. Please help.
Replies: 7
Views: 556

Re: Ready to Buy 1st House. Please help.

Don’t make the assumption that a new home dies not need to be inspected. Builders make a lot of mistakes. We have built four homes, I know. Make sure to get a very good inspector and do not close on the house until the builder fixes all of the outstanding items.
by Planner01
Mon Jul 27, 2020 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Beach House in New England
Replies: 44
Views: 4146

Re: Buying Beach House in New England

I have been able to talk the wife out of buying a beach vacation home. We would only use infrequently, we like to travel to different locales and cruises. I'd figure it's much easier to rent or lease luxury than to own. We know families and friends that own vacation home(s), cabins, time share and ...
by Planner01
Mon Jul 27, 2020 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Closing costs consideration when moving
Replies: 19
Views: 1124

Re: Closing costs consideration when moving

I don’t like the area. Sometimes you have to make compromises because of the financial considerations but that does not seem to be a factor for you. Trust your gut. It has been about different things but whenever I have rationalized a decision that my "gut" told me was wrong I have usually regrette...
by Planner01
Mon Jul 27, 2020 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Buying a property in central Florida a good idea or not
Replies: 49
Views: 4340

Re: Buying a property in central Florida a good idea or not

That’s interesting because I do believe it depends on the area. In my current home the value has appreciated greatly. Bought it for $580k and I could easily sell it for $750k today, in only 5 years. That’s the same experience I’ve had in other homes I’ve lived in and sold here in Orlando. The previ...
by Planner01
Mon Jul 27, 2020 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Buying a property in central Florida a good idea or not
Replies: 49
Views: 4340

Re: Buying a property in central Florida a good idea or not

That’s interesting because I do believe it depends on the area. In my current home the value has appreciated greatly. Bought it for $580k and I could easily sell it for $750k today, in only 5 years. That’s the same experience I’ve had in other homes I’ve lived in and sold here in Orlando. The previ...
by Planner01
Sun Jul 26, 2020 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a property in central Florida a good idea or not
Replies: 49
Views: 4340

Re: Buying a property in central Florida a good idea or not

Over the past few decades my family has never done well with property values (there's always a newer tract development ~10 miles away, and stuff just _decays_ down there) so I'd be really hesitant to do this for financial reasons. That’s interesting because I do believe it depends on the area. In m...
by Planner01
Sun Jul 26, 2020 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Closing costs consideration when moving
Replies: 19
Views: 1124

Re: Closing costs consideration when moving

But the $60k we would have to absorb to move seems absurd. I can think of all the travel I could do with that money.... 🤔 On the other hand $60k is less than 1/5 of our household yearly income. You can also look at the cost over the length of time you expect to own the home. For example if that is ...
by Planner01
Sun Jul 26, 2020 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a property in central Florida a good idea or not
Replies: 49
Views: 4340

Re: Buying a property in central Florida a good idea or not

I live in Orlando and know the locations you mention. They are not high appreciating areas (except for Lake Nona) and being a landlord for 10 years is not so appealing. If I were you I’d save the money and buy when you are ready to move. The homes will still be here. If you invest the money in the m...
by Planner01
Sun Jul 26, 2020 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Closing costs consideration when moving
Replies: 19
Views: 1124

Re: Closing costs consideration when moving

delamer wrote:
Sun Jul 26, 2020 2:50 pm
Amenities like that usually come with a big HOA fee. Have you investigated those?
The HOA would be just $100/month more than what we pay in our current neighborhood. We live in a small development while the other one has hundreds of homes.
by Planner01
Sun Jul 26, 2020 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Closing costs consideration when moving
Replies: 19
Views: 1124

Re: Closing costs consideration when moving

According to this calculator https://premiertitle.net/sellers-net-sheet-calculator/ and our own experience selling previous homes, real estate commission for the sale would be 6%, $45k. Deed Transfer Doc Stamp Tax Would be another $5250. That’s just the selling portion of it. Then more closing costs...
by Planner01
Sun Jul 26, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Closing costs consideration when moving
Replies: 19
Views: 1124

Closing costs consideration when moving

DH and I are considering moving to a different part of town in our city that’s much nicer than where we live on a similar priced home. However, when I look at the closing costs to sell our house, it would come out to over $58k and to buy that’s another $6k. In total over $58k in closing costs, not t...
by Planner01
Thu Jul 23, 2020 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a House with Elderly Parent: Many Questions...
Replies: 39
Views: 2290

Re: Buying a House with Elderly Parent: Many Questions...

Would having one more person move in really trigger for a bigger house? If so, why don’t you just purchase it yourself, instead of trying to take your dad’s money (possibly future inheritance)? Is it really necessary to move him across country when he’s comfortable in California in a place he likes ...
by Planner01
Sun Jul 12, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Funding A Living Trust: Re-Title or Payable/Transfer on Death
Replies: 15
Views: 931

Re: Funding A Living Trust: Re-Title or Payable/Transfer on Death

We were strongly advised not to fund the revocable trust with retirement accounts.
by Planner01
Sat Jul 11, 2020 1:52 pm
Forum: Personal Consumer Issues
Topic: Would you take the chance on booking a flight to Shanghai?
Replies: 3
Views: 395

Re: Would you take the chance on booking a flight to Shanghai?

You are right, there’s no risk. I am going for it!
Thank you
by Planner01
Sat Jul 11, 2020 10:55 am
Forum: Personal Consumer Issues
Topic: Would you take the chance on booking a flight to Shanghai?
Replies: 3
Views: 395

Would you take the chance on booking a flight to Shanghai?

I found an incredible deal on Delta for a flight to Shanghai next Summer. This is for a cruise I had booked prior to the pandemic. The cruise line instará that they will be sailing. In fact they are resuming sailings to Asia as early as October. Delta has a policy right now that if I book a trip and...
by Planner01
Fri Jul 10, 2020 7:53 pm
Forum: Personal Investments
Topic: Can we do both backdoor Roth IRA and mega backdoor Roth IRA
Replies: 5
Views: 602

Re: Can we do both backdoor Roth IRA and mega backdoor Roth IRA

Yes, one is through your employer and the other one is independent. I contribute to both every year.
by Planner01
Mon Jul 06, 2020 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Manager vs. Direct report salary issues
Replies: 151
Views: 10275

Re: Manager vs. Direct report salary issues

In my last role every single person on my team made more than me. The highest paid person almost $50k more and the lowest paid person around $20k more. But they were all at retirement age (longevity at the job got them the higher salary). It was crazy! I worked twice as hard as the highest paid pers...
by Planner01
Thu Jul 02, 2020 8:30 am
Forum: Personal Finance (Not Investing)
Topic: What are you paying for umbrella insurance?
Replies: 36
Views: 1991

Re: What are you paying for umbrella insurance?

$200/year for $1M for two drivers, an unground pool.
by Planner01
Tue Jun 30, 2020 6:14 pm
Forum: Personal Consumer Issues
Topic: At what point can you justify a $10k+ flight?
Replies: 75
Views: 4633

Re: At what point can you justify a $10k+ flight?

I just can't do it. I hate coach, but I just can't imagine paying $10,000 for a slightly more comfortable seat for a few hours. If someone offered me $10,000 to sit in an uncomfortable chair for 12 hours I would do it, and that's basically the same thing. Ha! I’d do the same thing. Interesting when...
by Planner01
Tue Jun 30, 2020 3:39 pm
Forum: Personal Consumer Issues
Topic: At what point can you justify a $10k+ flight?
Replies: 75
Views: 4633

Re: At what point can you justify a $10k+ flight?

... I think I’d have to have over $10M in generating investments to feel comfortable doing this... I think I'd need more than $10M to feel comfortable spending $10K on a flight. If you've got $10M that only provides for 1,000 flights at $10K each. To me it would be a slippery slope and then all the...
by Planner01
Tue Jun 30, 2020 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: I am thinking about life insurance incorrectly?
Replies: 40
Views: 1953

Re: I am thinking about life insurance incorrectly?

We are 40 years old with two young children. I make $170K/year and my wife makes $200K/year. At 35 we each bought a $1M term life policy with 30 year terms. The wiki and other websites talk about determining life insurance needs as income replacement. By this metric I feel underinsured. I was not t...
by Planner01
Tue Jun 30, 2020 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: I am thinking about life insurance incorrectly?
Replies: 40
Views: 1953

Re: I am thinking about life insurance incorrectly?

We are 40 years old with two young children. I make $170K/year and my wife makes $200K/year. At 35 we each bought a $1M term life policy with 30 year terms. The wiki and other websites talk about determining life insurance needs as income replacement. By this metric I feel underinsured. I was not t...
by Planner01
Tue Jun 30, 2020 2:13 pm
Forum: Personal Consumer Issues
Topic: At what point can you justify a $10k+ flight?
Replies: 75
Views: 4633

At what point can you justify a $10k+ flight?

I’ve taken in the past business class flights for almost $5k (only twice) and it was a total delight given that the flights were over 12 hours each way. I think $5k is reasonable but at what point in your budget can you justify spending over $10k on a roundtrip flight when the same flight on Coach i...
by Planner01
Mon Jun 29, 2020 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Adding a trust to your homeowner's policy
Replies: 62
Views: 7204

Re: Adding a trust to your homeowner's policy

Another thank you here to the OP for posting this question and the people before me who answered because I forgot to do that and attorney never mentioned it. Just called the insurance company to add the trust to the homeowners insurance. Did it cost you more? Mine (State Farm) did not so I was surp...
by Planner01
Mon Jun 29, 2020 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Adding a trust to your homeowner's policy
Replies: 62
Views: 7204

Re: Adding a trust to your homeowner's policy

Another thank you here to the OP for posting this question and the people before me who answered because I forgot to do that and attorney never mentioned it. Just called the insurance company to add the trust to the homeowners insurance.
by Planner01
Wed Jun 24, 2020 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Merit increase: lump sum bonus vs additional PTO?
Replies: 22
Views: 1169

Re: Merit increase: lump sum bonus vs additional PTO?

Considering that we can’t travel anywhere I’d take the bonus instead, in a heartbeat. Put that extra money to work towards the payoff of the house.
by Planner01
Fri Jun 19, 2020 3:30 pm
Forum: Personal Consumer Issues
Topic: Feminine Beauty Products - best bang for your buck?
Replies: 35
Views: 3401

Re: Feminine Beauty Products - best bang for your buck?

After consulting 3 dermatologist I finally found the routine and products that work best for me. Very simple yet effective. Nothing to do with labels and brands but focused on active ingredients that work. Morning: 1. Cetaphil soap bar (not the liquid soap, that’s a different formula). Wash face mor...
by Planner01
Fri Jun 12, 2020 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should I be mad at my mortgage broker?
Replies: 14
Views: 2485

Re: Should I be mad at my mortgage broker?

It’s very unlikely that rates will go up this year. So no, I’d not be upset.
by Planner01
Wed Jun 10, 2020 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford this mortgage
Replies: 24
Views: 2110

Re: Can we afford this mortgage

It’s a clear yes. You can afford a $700k loan on a 15 year term with $500k year salary. It would still leave you plenty of money to save and invest.
by Planner01
Wed Jun 10, 2020 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Help Me Strategize Our Debt Payoff Please
Replies: 43
Views: 2114

Re: Help Me Strategize Our Debt Payoff Please

If I remember correctly, student loan interest is deductible on taxes. If that’s the case I’d tackle the credit cards first, then the student loans in order of highest interest.
by Planner01
Tue Jun 09, 2020 9:07 am
Forum: Personal Finance (Not Investing)
Topic: [Finally Maxing 401K, Now What?]
Replies: 20
Views: 1123

Re: FINALLY MAXING 401K, NOW WHAT?

Another vote for the backdoor Roth IRA. Also find out if your job allows for in-plan rollover conversion within your 401k, also called Mega backdoor Roth IRA. This would allow for up to $57k in your 401k (including whatever your company matches). If they do and you have room after the backdoor Roth ...
by Planner01
Sun Jun 07, 2020 10:59 am
Forum: Personal Investments
Topic: When can you withdraw from the Mega Backdoor Roth?
Replies: 46
Views: 2791

Re: When can you withdraw from the Mega Backdoor Roth?

When exactly can you access the after tax portion of your 401k that was converted to Roth without penalties?....It is an IRR to the Roth 401k. Here's how I understand it. I don't promise it is all correct. You cannot access this money while it is in the 401k. If the after-tax money could have been ...
by Planner01
Sat Jun 06, 2020 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep my $1 million life insurance policy after age 65?
Replies: 65
Views: 5044

Re: Should I keep my $1 million life insurance policy after age 65?

You no longer need life insurance and for that hefty increase, let it go.
by Planner01
Sat Jun 06, 2020 6:19 pm
Forum: Personal Investments
Topic: When can you withdraw from the Mega Backdoor Roth?
Replies: 46
Views: 2791

Re: When can you withdraw from the Mega Backdoor Roth?

I don’t need to do this thankfully, but just for my own knowledge as I am seeing conflicting answers from search history. When exactly can you access the after tax portion of your 401k that was converted to Roth without penalties? Did you roll it over to a Roth IRA or do an IRR to the Roth 401(k)? ...
by Planner01
Sat Jun 06, 2020 4:16 pm
Forum: Personal Investments
Topic: When can you withdraw from the Mega Backdoor Roth?
Replies: 46
Views: 2791

When can you withdraw from the Mega Backdoor Roth?

I don’t need to do this thankfully, but just for my own knowledge as I am seeing conflicting answers from search history. When exactly can you access the after tax portion of your 401k that was converted to Roth without penalties?
by Planner01
Thu Jun 04, 2020 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay off loan?
Replies: 5
Views: 373

Re: Refinance or pay off loan?

I’d pay off the house, keep the $20k in savings and use the $900 a month from the mortgage to keep adding to the emergency fund. In a year you’d have almost $31k and the peace of mind of not having the payment and paying interest while at it.
by Planner01
Wed Jun 03, 2020 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for a 23 year old
Replies: 35
Views: 1801

Re: Life Insurance for a 23 year old

Until our child was actually born we didn’t get life insurance outside of what work gave us as a benefit (didn’t pay for this out of pocket.) If we both work one could survive without the other. Children can’t.

When you do have children (born not just planned), then sign up for term life insurance.
by Planner01
Wed Jun 03, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's expectations of subsidizing her friends' lives
Replies: 82
Views: 4521

Re: Wife's expectations of subsidizing her friends' lives

You are helping to fund someone else’s retirement account, meanwhile this is the first year you are setting up your own?

This is a recipe for disaster.
by Planner01
Wed Jun 03, 2020 12:54 pm
Forum: Personal Consumer Issues
Topic: Older Women Lifting Weights
Replies: 128
Views: 12726

Re: Older Women Lifting Weights

I am in my early 40s and I exercise regularly. But this week I wanted to got ambitious as not only did I pick up heavier weights for leg exercises but then I added a resistance band on top of it. Well I hurt my sciatic nerve so bad that I could not move my left leg for two days. DH had to carry me a...
by Planner01
Wed Jun 03, 2020 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door and Pro Rata Rule -- In-plan conversions?
Replies: 12
Views: 549

Re: Mega Back Door and Pro Rata Rule -- In-plan conversions?

I do this every year as my employer only allows me to do the in plan Roth conversion within the 401k every 12 months. Check to see what are the timing rules for your employer. Also, this can be done regardless of your income. The income limitation is not factored within the 401k, but rather the IRA ...
by Planner01
Tue Jun 02, 2020 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Sell inherited home or rent it out?
Replies: 19
Views: 1587

Re: Sell inherited home or rent it out?

Appreciation might not be very much year by year. For that reason and the maintenance plus the extra work of dealing with a tenant - SELL
by Planner01
Fri May 29, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: What does your budget spreadsheet look like?
Replies: 36
Views: 2504

Re: What does your budget spreadsheet look like?

I have a spending plan that it’s segmented on a weekly basis. This is mostly for the bills that come in/out of the checking account, which includes housing, private school, food, gas, utilities, etc... we use credit cards for most reoccurring bills and pay it off when they are due. I don’t have sink...