Search found 24 matches

by msjohn07
Thu Aug 24, 2023 7:19 am
Forum: Personal Finance (Not Investing)
Topic: How to accept payment for a private vehicle sale
Replies: 148
Views: 11641

Re: How to accept payment for a private vehicle sale

InvestingGeek wrote: Mon Aug 21, 2023 7:09 pm I just sold a vehicle privately. I had the buyer meet me at a bank and give me cash which I deposited into my account right away while I signed the car away to them. IMO, that's the safest way to accept payment.

No guarantee of funds with any other method afaik.
Yep, what I do as well. Sold 3 vehicles this way, never a problem.
by msjohn07
Thu Aug 24, 2023 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Geico auto premium up 30%, when to get rid of comprehensive/collision coverage?
Replies: 29
Views: 4009

Re: Geico auto premium up 30%, when to get rid of comprehensive/collision coverage?

Geico did the same earlier this year to us. 38% increase on 3 cars, no tickets or accidents. Switch to Progressive with more coverage at a lower price than the current premium were with Geico.
by msjohn07
Mon Jun 27, 2022 11:47 am
Forum: Personal Consumer Issues
Topic: St. Thomas USVI Vacation - Hotel Suggestions December 2022
Replies: 4
Views: 576

Re: St. Thomas USVI Vacation - Hotel Suggestions December 2022

My wife and I stayed at the Ritz in May of this year. Very nice, as you would expect. Also went to Red Hook and visited St. John's as well. We decided not to drive and took taxi's around the island. Went snorkeling off the cove that the Ritz sits in. FYI, wear plenty of sun screen, my wife learned the hard way :o .
by msjohn07
Tue Aug 31, 2021 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Too much for new house?
Replies: 20
Views: 3557

Re: Too much for new house?

How would the new mortgage effect, if at all, your financial goals?

We had a new home built in 2020. Prior to signing a contract, we wanted to maintain our financial goals as the #1 priority. After maxing all tax advantage accounts (410k, Roth, HSA) and some monthly funds into taxable as well. We then figured the increase from our current mortgage to the new mortgage and determined whether or not we were comfortable with the increased amount.

Our goals were to maintain savings levels, still have travel funds, ect.
by msjohn07
Mon Jul 26, 2021 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: What is the average savings rates for bogleheads?
Replies: 343
Views: 41054

Re: What is the average savings rates for bogleheads?

Late 30's - Dual HHI

Savings Rate 40% pre-tax
by msjohn07
Fri Jul 02, 2021 1:28 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3606
Views: 562359

Re: Post your Financial Milestone Announcements Here

msjohn07 wrote: Fri Apr 02, 2021 12:03 pm Updated my wife (32) and I (37) balance sheet yesterday. Finally broke the 2 comma club with home equity. Feel like the plan is finally rolling.

1.05M :mrgreen:

Next step, 2 comma club on investments only. Hopefully by the end of the year.
Update from the above post. After going over the 2nd quarter account updates, hit the 2 comma club (investments only) :-D . Faster than expected, onto the next!
by msjohn07
Fri Apr 02, 2021 12:03 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3606
Views: 562359

Re: Post your Financial Milestone Announcements Here

Updated my wife (32) and I (37) balance sheet yesterday. Finally broke the 2 comma club with home equity. Feel like the plan is finally rolling.

1.05M :mrgreen:

Next step, 2 comma club on investments only. Hopefully by the end of the year.
by msjohn07
Fri Mar 29, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you check your net worth?
Replies: 257
Views: 21397

Re: How often do you check your net worth?

Quarterly updates to my spreadsheets
by msjohn07
Wed Mar 27, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Sorry, Another Can/Should Buy Home Purchase
Replies: 12
Views: 1005

Re: Sorry, Another Can/Should Buy Home Purchase

ohai wrote: Wed Mar 27, 2019 9:30 am "Are we buying too much house?"

This should be a function of the house itself, in addition to its cost. What would you be buying with this extra money? More space? Location? Schools? Modern amenities? What do those things cost to you?
More space, both living and garage. Location - Going from city limits to county limits. Also, new demographics with new neighborhood.
by msjohn07
Wed Mar 27, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Sorry, Another Can/Should Buy Home Purchase
Replies: 12
Views: 1005

Re: Sorry, Another Can/Should Buy Home Purchase

stoptothink wrote: Wed Mar 27, 2019 9:18 am From a $140k house to $400k? It's probably, no certainly, too much house for your needs, but affordability isn't a concern at all. Go ahead if you can't think of a better way to spend an extra $1k or so a month for the next few decades.
I know seems a little crazy, but here is the a little background. Original house was purchased at age 25 on a single income, about 1/4 of our HHI now.
by msjohn07
Wed Mar 27, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Sorry, Another Can/Should Buy Home Purchase
Replies: 12
Views: 1005

Re: Sorry, Another Can/Should Buy Home Purchase

My opinion is that you can afford it. However, I'll add a few points: 1. You say the home will cost $400k. It's a new build and it's likely that you'll run over budget. Upgrades cost more. I personally also would never buy a new build home from a spec builder as they're generally poorly built. I'm from a family of home builders and know just enough to be dangerous, but I'd feel more comfortable buying a home that's had some time to show warts. SO only wants a new build, nothing else... 2. Have you factored in the cost of childcare, education, etc? I have edit the original post with child's age. Child is 17 years old and not planning on attending college. So, child care and education are finished. 3. Your post would benefit from a breakdown...
by msjohn07
Wed Mar 27, 2019 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Sorry, Another Can/Should Buy Home Purchase
Replies: 12
Views: 1005

Sorry, Another Can/Should Buy Home Purchase

Hi fellow Bogleheads, Per title, we are looking to build (possible purchase) a new home. I feel pretty confident with our finances, but still looking to your advice as well. As with many on this forum, we are hoping to retire in our early 50's. Age - 35 and 30 - 1 Child - 17 years old - NOT College bound (Not expecting more) First Things First - Show YOU the Money :D Combined Finances Income - Base 160k, Bonus - Minimum 20k / Max 40k (Take Home pay is 7.5 to 8.5k/Month) 401(k) - 285k Roth IRA - 85k Taxable - 52k HSA - 35k HY Savings - 80k Checking - 30k Annual Expenses - About 35k (Could Creep to 45K with new car addition) Credit Score - Both 800+ Current home - LCOL Area Bought in 2009 - 76k remaining on mortgage (3.6%) - Estimated Selling...
by msjohn07
Mon Nov 05, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Re: Financial Checkup & Suggestions - Updated

Please see updated OP, as information is current as of 11/5/18

Thanks :D
by msjohn07
Tue Aug 21, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you put away in investments?
Replies: 66
Views: 7056

Re: How much do you put away in investments?

About 90k combined, 50% gross in a LCOL area
by msjohn07
Sun Apr 29, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 42780

Re: How old are you and how much do you save for retirement a year

Hukedonfonix4me wrote: Wed Apr 25, 2018 11:11 am 30's couple maxing advantaged accounts ~60k/year including company match. In addition, we contribute $3,450/year to each of our separate individual company sponsored HSA plans.

Hope to use HSA money for qualified medical in many decades but could need to tap earlier so we don't count on it.


"msjohn07" how does your family contribute the 2017 max in "His" HSA AND "Her" HSA still contribute the individual 2018 IRS max limit?
msjohn07 wrote: Thu Apr 19, 2018 12:15 pm 34 & 29
His:
HSA - $6,850

Her:
HSA - $3,450

http://www.hsacenter.com/how-does-an-hs ... on-limits/
Not yet married, soon too be
by msjohn07
Thu Apr 19, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 42780

Re: How old are you and how much do you save for retirement a year

34 & 29
His
401K - $18,000 + $9,700 (Match & PS)
Roth - $5,500
Taxable - $7,200
HSA - $6,850
Savings - $6,000

Her
401k - $18,000 + $1,500 (Match)
Roth-$2,400 - Still working on maxing this
HSA - $3,450
Savings - $8,000

So about $86,000 in total. Not too bad, I hope 8-) . "Make hay while the sun shines"
by msjohn07
Fri Apr 14, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Age when you started to max out your retirement accounts?
Replies: 177
Views: 36907

Re: Age when you started to max out your retirement accounts?

A couple of years ago at age 31. Max 401(k), Roth IRA, HSA, and a monthly amount to a taxable account. Also, I am very lucky to have a match and profit sharing equal to 11% of salary per year as well.
by msjohn07
Mon Apr 03, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Low-earners- What is your profession?
Replies: 371
Views: 62315

Re: Low-earners- What is your profession?

I'll Contribute

Me: 90K/Salary - 33yo - Controller
SO: 80k/Salary - 28yo - Healthcare Auditor

Not sure if we are low earners or not, maybe by BH standards. We crossed the 100k/year income level a few years back. I was so excited then. Now, only a few years later our income has exceeded my expectations. Hard work and opportunities pay off, and it helps we live in a LCOL area. We still live the same home purchased out of college and are able to save a significant amount of income.

What is interesting, is being able to share the information on the forum. We never mention finances around our family or friends, as they earn much less than we do and there is not much to add the conversations when most view money entirely different.
by msjohn07
Wed Feb 22, 2017 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Re: Financial Checkup & Suggestions

student wrote:I am no expert but I think you are doing fine. You have about $200,000 in investment/EF and a relatively small mortgage at 33. You are making $85,000 in LCOL area. Since you are with Fidelity, I would suggest you try out their retirement analysis online. Once you reach $50,000 at Vanguard, you can try Financial Engines for free. Both are informative. Of course, there are other calculators such as firecalc that you can try.

I think the lack of response is an indication that you are doing well and not much advice is needed.
That may be the case. It has felt like a very long road - Especially when you have a child as young as I did. :wink:
by msjohn07
Wed Feb 22, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Re: Financial Checkup & Suggestions

You are in excellent financial shape!! Well done. :sharebeer The one that that sticks out to me is your 15 year old, the amount you have or hope to have saved in the 529, and the realities of college/university costs. We are just finishing up with the undergraduate schooling of our two children. Even if you are not looking to pay for the entire college education, I would encourage you to think about that extra $700 per month you have in your budget to set aside for the costs that your child will incur (even if he/she lives at home). The actual price tag is a lot higher than what you can imagine. http://www.collegedata.com/cs/content/content_payarticle_tmpl.jhtml?articleId=10064 Even if you simply set aside the $700 per month in a savings ac...
by msjohn07
Wed Feb 22, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Re: Financial Checkup & Suggestions

Lots of views... Need some suggestions Congrats on putting it all out there and looking from some advice! Some people don't have someone to talk finances with and these forums ar great for that. You're maxing the important accounts to setup for early retirement with the 401K, IRA, HSA so great job! The 529 plan in front of early retirement is up to you really based on how you feel about your child going to college. Being 15 yrs old, you probably have a good sense. For me personally, working to pay for my college and going to a community college first taught me to appreciate the education. Maybe you instead choose to help out later towards the end of college after on track. Interesting, have not considered using those funds later in his col...
by msjohn07
Wed Feb 22, 2017 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Re: Financial Checkup & Suggestions

Lots of views... Need some suggestions
by msjohn07
Mon Feb 20, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Checkup & Suggestions - Updated
Replies: 9
Views: 1519

Financial Checkup & Suggestions - Updated

Updated information as of 3/28/19 - SO and I looking into purchasing a new home in the next 9-12 months Updated information as of 11/5/18 - Any advice is greatly appreciated First, let me start by thanking everyone who participates on here. Long-time lurker, first time poster. Go easy..... :happy Original information from February 2017 - Red is November 2018 Age: 33 34 35 Single (Engaged) Child: 15 years old 17 years old LCOL Area Income 85k/Year - Very stable job - 95k/Year 401(k): 27k/Year (19k max + 11% Employer match/PS) 29k/Year 30k/Year Roth IRA: 5,500/Year 6,000/Year HSA: 6k/Year (Includes employer contribution) - Max 6900/year Max 7000/year 529: 2k/Year - $1200/Year - Reduced - Unsure on college status Zero, not perusing college As...