Search found 984 matches

by djpeteski
Thu Sep 17, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 311
Views: 43633

Re: How to get over finance envy

I taught FPU at our church for 5 years. .... Same kind of thing, taught the class a few times, and many people came to the class seeking bailouts. One couple earned a very modest salary (like 50 to 60K/year range) but somehow owed the IRS over 100K, plus car payments etc. They were unwilling to cha...
by djpeteski
Thu Sep 10, 2020 12:58 pm
Forum: Personal Investments
Topic: Best way to build an emergency fund?
Replies: 95
Views: 6185

Re: Best way to build an emergency fund?

I'm in Michigan, cost of living isn't too high. My expenses are roughly $8k monthly, though I'm sure we could trim it a bit. We have student loans, car notes, and some other fixed expenses (cars were before my current job, and my wife's loans are on a regular payment plan). To be sure, in a true em...
by djpeteski
Thu Sep 03, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Need Help with Life Insurance Question
Replies: 23
Views: 1021

Re: Need Help with Life Insurance Question

Are you a smoker? Scuba Diver/pilot? The rates seem very high to me. At 48, fat, I got a 20 year 500K policy for $800 per year. You are paying more than me at a younger age. I'd shop around a bit. Try Select Quote or Zander Insurance. The excess cost is probably in a higher commission to your indepe...
by djpeteski
Thu Sep 03, 2020 10:02 am
Forum: Personal Investments
Topic: To backdoor Roth or not to backdoor Roth
Replies: 11
Views: 783

Re: To backdoor Roth or not to backdoor Roth

I would do it. First, it does not change your tax liability. Second, 50 year old you will wished you saved more earlier. Third, it is such a small portion of your income that you might as well do it. The only argument I can think of it, against it, is if it is such a hassle it reduces your income fr...
by djpeteski
Tue Sep 01, 2020 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Stage 4 Cancer and Young Family
Replies: 105
Views: 14659

Re: Stage 4 Cancer and Young Family

Sorry this happened to you and hopefully you fully recover. The doctors these days can be amazing. We have a house worth $275,000 and owe $230,000 (3% mortgage). (We just refinanced.... Can you add mortgage life insurance? I would try and it usually is done without qualification. If not it may be wo...
by djpeteski
Fri Aug 14, 2020 9:20 am
Forum: Personal Finance (Not Investing)
Topic: House hunt put on hold...how much rent can we afford?
Replies: 8
Views: 899

Re: House hunt put on hold...how much rent can we afford?

The thought of moving twice in a few months would tend to make me stay put.

It will be much easier to move a tiny apartment then a larger one, and the large one will be easier to move than if you rent a home.

Why is your house hunting on hold?
by djpeteski
Wed Aug 12, 2020 8:04 am
Forum: Personal Consumer Issues
Topic: Ergonomic keyboard suggestion
Replies: 21
Views: 958

Re: Ergonomic keyboard suggestion

Care to post a list for those of us without a Consumer Report subscription?
by djpeteski
Tue Aug 04, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Welp: Going for Bank Account Bonus Gone Wrong
Replies: 16
Views: 2643

Re: Welp: Going for Bank Account Bonus Gone Wrong

MikeZ wrote: Mon Aug 03, 2020 11:35 am That said my residence is in an area served by TD Bank.
For the record, I had to change from TD Bank. They were terrible. All their systems are focused on lower income crowd, the kind that bounce checks regularly. I am not surprised you are having trouble.
by djpeteski
Tue Aug 04, 2020 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Helping my mother financially (CCs and housing)
Replies: 21
Views: 2080

Re: Helping my mother financially (CCs and housing)

Sorry to nit pick, but I am having trouble reconciling these factors about your finances: - 20k in Student Loan debt @ ~3% interest rate - ~70k cash-on-hand I would advise, that tomorrow, you have ~50K cash on hand and zero student loan debt. I can't think of a good reason to keep it. Your cash is n...
by djpeteski
Mon Aug 03, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone know a lender that offers a 7 year fixed mortgage?
Replies: 10
Views: 674

Re: Does anyone know a lender that offers a 7 year fixed mortgage?

You may want to looking into lenders that can do a home equity loan. Not a line of credit, but a loan. They tend to be fixed interest rate, low closing costs, and for a fixed term. The terms can be much shorter, and I think I either had a 6 or 7 year loan the last time I refinanced (long since paid ...
by djpeteski
Mon Aug 03, 2020 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Where do I start? need a money makeover...
Replies: 31
Views: 3319

Re: Where do I start? need a money makeover...

My financial knowledge or lack thereof is placing a great deal of stress on my personal well being and my marriage as well. Well this is a good place to start from, understanding that money stress can destroy marriages is important. There is a lot of good advice in this thread already and removing ...
by djpeteski
Mon Aug 03, 2020 7:24 am
Forum: Personal Consumer Issues
Topic: Paying cash for a new car... should I let them run my credit?
Replies: 114
Views: 9330

Re: Paying cash for a new car... should I let them run my credit?

Glad someone brought this up. I froze my credit reports after the Equifax breach. So, yeah, I'd need to unfreeze (thaw? :D ) and that's another inconvenience. I prefer the least complex transaction possible. That's why I prefer no trade-in, no financing, no dealer add-ons, and no leases. Which is i...
by djpeteski
Wed Jul 29, 2020 11:25 am
Forum: Personal Investments
Topic: Portfolio Analysis please
Replies: 56
Views: 4731

Re: Advisor moved me from all S&P to these...thoughts?

What is the advisers net worth?
by djpeteski
Wed Jul 29, 2020 9:03 am
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 75
Views: 6903

Re: I agree that Investing is better than paying off mortage but.....

The bottom line is that either choice is good, and your general behavior in personal finance is excellent. So really do whatever you wish with the input from your spouse. What will make the two of you happiest, and then do that. You might be far better off withdrawing money now, from investment acco...
by djpeteski
Wed Jul 29, 2020 7:31 am
Forum: Investing - Theory, News & General
Topic: [Vanguard partners with Infosys for Defined Contribution recordkeeping]
Replies: 265
Views: 16683

Re: "Decision Day for 1,300 Vanguard Workers"

The one thing that the article kind of covers, and is probably agreed upon on this board, is that Vanguard is in need of a technology refresh. Using a mainframe system limits the talent that can help maintain it, and the ability to move data to the web. This is my speculation, but Vanguard probably ...
by djpeteski
Tue Jul 28, 2020 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Buying a property in central Florida a good idea or not
Replies: 49
Views: 4861

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

If this was circa 2009 to 2011 then it might be a good idea. Back then you could buy a home for about 1/3 of what they are selling for today. Orlando was hit hard by the housing crisis.

Now not so much.

It might again become a good idea in about 18 months from now.
by djpeteski
Thu Jul 23, 2020 12:26 pm
Forum: Personal Investments
Topic: Deploying a $40m windfall in current market conditions
Replies: 67
Views: 11955

Re: Deploying a $40m windfall in current market conditions

Hello everyone. I am wrapping up the sale of my business and will be receiving $40m in the coming weeks. Being that I am not worth 1/10th that I would not presume to give you advice, but I would take some if you want to do lunch some time. Trust your instincts, they got you where you are today. And...
by djpeteski
Mon Jul 20, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: To borrow against Whole life Cash value?
Replies: 19
Views: 1259

Re: To borrow against Whole life Cash value?

IMHO the best decision you can probably make is that you should drop the whole life policies now. Why buying term/invest the difference is a much better deal: Under the hood whole life buys annual renewable term(ART). Basically it goes up every year. When you buy a term policy the choice is yours to...
by djpeteski
Fri Jul 17, 2020 11:41 am
Forum: Personal Consumer Issues
Topic: Just Ordered Peloton Bike
Replies: 140
Views: 13982

Re: Just Ordered Peloton Bike

You should have just paired your road bike with 105 onto a Wahoo trainer for half the price of Peleton then get Zwift for $15 a month instead of $50 or whatever Peleton is charging. Then upgrade your road bike to Ultegra :wink: The added benefit is when your other bike goes for repair or gets a fla...
by djpeteski
Tue Jul 14, 2020 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: What would you do (Student Loans vs 401k Contributions)
Replies: 16
Views: 642

Re: What would you do (Student Loans vs 401k Contributions)

I agree with tashnewbie what is your income prognosis after this particular MBA? What troubles me is the total cost of the MBA and the fact your employer is kicking in zero. They are saying that they do not value the MBA as they are unwilling to participate. As presented you have no good options. To...
by djpeteski
Tue Jul 14, 2020 1:11 pm
Forum: Personal Consumer Issues
Topic: Anybody use a percussion massage device?
Replies: 16
Views: 1319

Re: Anybody use a percussion massage device?

As a 53 year old ironman to be we use a lot of recover devices. Hypervolt percussion massager is one of them, trigger point foam roller another, and air relax compression leg sleeves. I try to roll out and use the hypervolt daily and it makes a world of difference in my training and recovery. I also...
by djpeteski
Mon Jul 06, 2020 6:14 am
Forum: Personal Consumer Issues
Topic: Best $10k car for me?
Replies: 32
Views: 2254

Re: Best $10k car for me?

Not mentioned but we really like our Ford Edge. We bought a new one for 25K, well outside your budget but finding a gently used on should be pretty easy. Three adults can sit in the back pretty comfortably and often times my wife totes her bike, indoor trainer and clothing when she has "call weekend".
by djpeteski
Tue Jun 30, 2020 12:57 pm
Forum: Personal Consumer Issues
Topic: Please help me choose a ballast for fluorescent light
Replies: 21
Views: 940

Re: Please help me choose a ballast for fluorescent light

What I did was buy these LED lights off of Amazon. I bought them to light up my garage, they run about $80 for 4 of them and are a bit smaller the size and shape of two florescent lights. I took the florescent fixture down, removed the ballasts and wiring, and installed one of the LED lights. About ...
by djpeteski
Tue Jun 30, 2020 12:52 pm
Forum: Investing - Theory, News & General
Topic: How do you avoid being lazy with 3-fund portfolio?
Replies: 36
Views: 3727

Re: How do you avoid being lazy with 3-fund portfolio?

I would say an important side effect of being lazy with your portfolio is being able concentrate on other areas of your life. For example, instead of trying to stay ahead of market news you could: Concentrate on your career, leading to possibly higher pay and an even higher savings rate. Concentrate...
by djpeteski
Mon Jun 29, 2020 2:52 pm
Forum: Personal Consumer Issues
Topic: Thinking about joining Air National Guard at 31 years
Replies: 94
Views: 6117

Re: Thinking about joining Air National Guard at 31 years

Yeah I have hard Army national guard was really hard. It is like having two jobs. I have not heard similar experiences with Air National Guard though. Could be the difference in the area they operate? I would imagine some Air Guard units also have it tough, it might depend upon the job they have. T...
by djpeteski
Mon Jun 29, 2020 2:38 pm
Forum: Personal Consumer Issues
Topic: Thinking about joining Air National Guard at 31 years
Replies: 94
Views: 6117

Re: Thinking about joining Air National Guard at 31 years

The Air Guard may be different but I was a Army Guard officer in the 90's. This was during the time of the first Gulf War and reductions in full time military units. Many National Guard units were designated as "Round Out" units, basically we could take the place of full time units if needed. The bo...
by djpeteski
Tue Jun 23, 2020 1:19 pm
Forum: Personal Consumer Issues
Topic: What to buy parents as a token of appreciation/retirement
Replies: 57
Views: 3813

Re: What to buy parents as a token of appreciation/retirement

I don't know your family, so apologize in advance. Your sibling could be doing this to effectively buy himself a car. He may very well know that your mom and dad will not use car X so he will graciously offer to drive it occasionally, which will turn it into every day. If that is the case you can ne...
by djpeteski
Mon Jun 22, 2020 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Car Loan vs Cash
Replies: 38
Views: 2634

Re: Car Loan vs Cash

Reasons to pay Cash: No monthly payments, lower insurance, won't be tempted to buy more car, etc. You won't have lower insurance. If you went with 100% financing, or paid cash for a 25K car, you don't have the financial ability to absorb a totaling of this car so you will need to insure similarly. ...
by djpeteski
Tue Jun 16, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Seeking Bank Recommendations
Replies: 23
Views: 1185

Re: Seeking Bank Recommendations

I kind of hate to say this, but I really have enjoyed Chase over the last few years. My prejudice was that would be terrible, but for my needs they are great. My needs require a local branch and they are all over place by me.
by djpeteski
Mon Jun 15, 2020 10:34 am
Forum: Personal Investments
Topic: Retire at 55 in 6 months- doable?
Replies: 16
Views: 3416

Re: Retire at 55 in 6 months- doable?

Well done. Given the long retirement period (40 years), do we need to have a higher stock allocation (ie 70/30) in our portfolio to start at retirement? This argument can be made if your numbers were close, they aren't. Take the pension out of the equation and then the numbers become close. I know d...
by djpeteski
Thu Jun 11, 2020 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Would you be motivated to refinance this loan?
Replies: 25
Views: 1339

Re: Would you be motivated to refinance this loan?

I have plenty of cash on the sidelines....but anyway where, are you seeing <2.375% on a 30 year FRM? One thing you may want to look into doing since the low LTV that was expressed. See if you can find a bank to give you a home equity loan in first position. The benefits are they tend to be fixed, f...
by djpeteski
Wed Jun 10, 2020 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Home Title Theft
Replies: 5
Views: 1423

Re: Home Title Theft

Thank you. My county offers this service and I signed up!
by djpeteski
Wed Jun 03, 2020 6:39 am
Forum: Personal Consumer Issues
Topic: Ads for "Immediate FICO Boost"
Replies: 12
Views: 934

Re: Ads for "Immediate FICO Boost"

One hack, that no longer works, is to have an American Express card. Because one had to pay off the balance each month having a long history with AMEX got you a high score. So what makes that a "hack?" It is an actual demonstration of reliability, which is what FICO is all about. You get an AMEX ca...
by djpeteski
Tue Jun 02, 2020 8:47 am
Forum: Personal Consumer Issues
Topic: Ads for "Immediate FICO Boost"
Replies: 12
Views: 934

Re: Ads for "Immediate FICO Boost"

For a while FICO has been making plans to include utility payments and rent payments into their score. This would allow people, who shun debt, to have a payment history. For some lower income folks there is a high price to pay to establish a good credit score through traditional means and they reall...
by djpeteski
Fri May 22, 2020 11:32 am
Forum: Personal Investments
Topic: Does Capital one send emails when their interest rate decreases?
Replies: 29
Views: 1590

Re: Does Capital one send emails when their interest rate decreases?

For the record, AMEX Personal Savings sends me an email when they change their interest rate. Currently at 1.3%. While I have not heard of a sign up bonus with them, I have enjoyed doing business with them for many years.
by djpeteski
Thu May 21, 2020 9:12 am
Forum: Personal Consumer Issues
Topic: Frequency of bike overhaul or tune up
Replies: 29
Views: 1830

Re: Frequency of bike overhaul or tune up

I would advise buying a bike chain gauge, for about $11. Clean and lube your chain every couple hundred miles and use the gauge. If you cannot make it fit, your chain is fine. If it fits on one side, the chain needs to be replaced. If it fits on both sides you need to replace the chain and rear cass...
by djpeteski
Tue May 19, 2020 9:51 am
Forum: Personal Finance (Not Investing)
Topic: How did you determine your target savings rate?
Replies: 109
Views: 4890

Re: How did you determine your target savings rate?

Finding a targeted spending rate is a the tail wagging the dog, IMHO. You are in a detrimental financial situation. You have alimony, child support, and young children. Saving any amount is an accomplishment. I would encourage you to outsource some mundane tasks. For me it was lawn care and house cl...
by djpeteski
Mon May 18, 2020 9:20 am
Forum: Personal Finance (Not Investing)
Topic: How to respond to poor life decision affecting job
Replies: 32
Views: 4521

Re: How to respond to poor life decision affecting job

I for one am proud of you, not sure where the bad decision took place. One of the foundations of Jack Bogle is that you cannot know the future. Taking that out of the equation, I do not see a bad decision. In summary, this is what I see: You left a job where the manager sought to control you and was...
by djpeteski
Wed May 13, 2020 9:59 am
Forum: Personal Consumer Issues
Topic: New Brake Pads
Replies: 87
Views: 4279

Re: Changing Brake Pads

Hondas are very easy to change. if you are looking for a deal, then do them yourself. If you have a second car resurfacing the rotors will cost less then $80. I typically just replace the rotors as the extra 20 or 30 it will cost me is not worth the hassle of dropping them off and picking them up ag...
by djpeteski
Wed May 13, 2020 9:25 am
Forum: Personal Finance (Not Investing)
Topic: $2 million dollar house pre requisites
Replies: 109
Views: 10108

Re: $2 million dollar house pre requisites

IMHO: You need enough cash to put 20% down to avoid pmi, so 400K min plus emergency fund. No other consumer debt You need enough stable income to afford a 15 year, and a very good income prognosis in case you have to find a new employer. Home maintenance needs to be included if this is a large run d...
by djpeteski
Wed May 13, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 8124

Re: Should you include home equity in Net Worth?

The only thing useful, about a net worth calculation, is as a barometer for your own financial well being. So, provided you do so consistently, the choices is yous. Once you calculated that figure, the information should be close hold. Extended family members, or friends should not know that informa...
by djpeteski
Mon May 11, 2020 10:03 am
Forum: Investing - Theory, News & General
Topic: Strategy for paying down mortgage
Replies: 22
Views: 1877

Re: Strategy for paying down mortgage

IMO it comes down to the software used by the mortgage servicer. If it is easy to make extra principle payments, and I imagine that most are these days, then use A. If they are a pain in the rear end about it, which was more common prior to online payments, then use B. Some houses make it a pain to ...
by djpeteski
Tue May 05, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties
Replies: 58
Views: 2058

Re: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties

Do you recommend no one buy cars that cost more than 10% of of a used BMW? Not at all. We bought new a couple of years back. Our investments can certainly out pace the depreciation hit, and we had the cash to purchase the car. Even if one were to finance in that situation, with plenty of cash in th...
by djpeteski
Tue May 05, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties
Replies: 58
Views: 2058

Re: Car Purchase - Financing vs Down Payment, GAP Insurance, Extra Warranties

IMHO this is one bad decision that leads to another. Gap insurance is for broke people and is designed to keep people broke. You know that your car will depreciate and you might wreck before the loan is paid off. So you hire an insurance company to pay for that risk, and pay them a premium to assume...
by djpeteski
Tue May 05, 2020 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Amica vs USAA Insurance
Replies: 27
Views: 1705

Re: Amica vs USAA Insurance

I just switched from USAA to Progressive because of rates. Add in that USAA handled my home owners claim, very poorly, for hurricane damage I am glad to be rid of them.
by djpeteski
Mon May 04, 2020 1:23 pm
Forum: Investing - Theory, News & General
Topic: Is Disney the most tempting value stock?
Replies: 223
Views: 13783

Re: Is Disney the most tempting value stock?

All I can say, is that before the COVID-19 thing Disney World was packed. Things like food and wine festival was so crowded. Things like the Disney races, sell out. You might pay $30-45 for your local 5K, to do so at Disney $120. The half marathons run about $180. For reference I signed up for a Orl...
by djpeteski
Mon May 04, 2020 8:01 am
Forum: Personal Consumer Issues
Topic: How Long Should A Bed Last?
Replies: 30
Views: 2470

Re: How Long Should A Bed Last?

Get one of these: https://amzn.to/35ruAtQ

It is one of the most amazing sleeps I have ever had and a good cost. We kept our box spring from our traditional mattress, that broke down after about 7 years, and are very happy with both the price and the quality. We have nicknamed it the "cloud bed".
by djpeteski
Thu Apr 30, 2020 6:42 am
Forum: Personal Consumer Issues
Topic: Lakeland, FLA as a retirement destination?
Replies: 8
Views: 1362

Re: Lakeland, FLA as a retirement destination?

If you are anywhere near Lakeland Florida, do not miss this:

https://en.wikipedia.org/wiki/Florida_Southern_College

It is the largest collection of Franklin Loyd Wright architecture. They do guided tours, which are well worth the price, but just visiting the campus is kind of awesome.
by djpeteski
Fri Apr 24, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Fast/Inexpensive Home Equity
Replies: 10
Views: 627

Re: Fast/Inexpensive Home Equity

My thought is that a HELOC or HEL will take similar time to a cash out refi. The expense will probably be a lot lower. If you have enough equity, you could do a HEL for a sufficient amount to also replace your existing mortgage and put it in first position. I did this a few years back and got a ver...
by djpeteski
Fri Apr 24, 2020 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Fast/Inexpensive Home Equity
Replies: 10
Views: 627

Re: Fast/Inexpensive Home Equity

My thought is that a HELOC or HEL will take similar time to a cash out refi. The expense will probably be a lot lower. If you have enough equity, you could do a HEL for a sufficient amount to also replace your existing mortgage and put it in first position. I did this a few years back and got a very...