Search found 558 matches

by djpeteski
Fri Jul 13, 2018 11:19 am
Forum: Investing - Help with Personal Investments
Topic: What to do with extra $2500 a month?????
Replies: 36
Views: 3076

Re: What to do with extra $2500 a month?????

-We have 2 children ages 10 and 6 One thing I left off is we want to fully fund our kids college tuition as long as they attend a local Public University in the State of Michigan. We currently have around $7000 in their account so we know we are way behind. Nothing could be further from the truth, ...
by djpeteski
Fri Jul 13, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Help with No-Lapse Guarantee UL
Replies: 22
Views: 782

Re: Help with No-Lapse Guarantee UL

nage234 wrote:
Fri Jul 13, 2018 10:16 am
Hello,

One of my good friend ... (Age 120)
Your friend is 120 years old? Life insurance typically expires at age 100.

See here:
https://www.moneytips.com/outliving-you ... nce-policy
by djpeteski
Fri Jul 13, 2018 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Credit score after becoming debt free?
Replies: 44
Views: 2842

Re: Credit score after becoming debt free?

We have had no debt for a year and only have two credit cards. Last time I checked our scores were 815ish. Congratulations on being debt free. It is wonderful. :sharebeer Same as Shackleton. When I had debt, I hovered around the 730's. Once we paid off the mortgage 815ish within a few months. We ha...
by djpeteski
Wed Jul 11, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 25949

Re: free dinner investing seminar

i'd consider going to more but i'm not sure if the 3 hours of time is worth it. there's another offer for dad sitting on my desk that only asks for those with 500k investable assets so thinking about it. it is at a steakhouse i've never been too-- mostly because i'm too cheap to pay that amount of ...
by djpeteski
Wed Jul 11, 2018 11:13 am
Forum: Personal Finance (Not Investing)
Topic: looking for a new (online) savings account home
Replies: 23
Views: 1886

Re: looking for a new (online) savings account home

We use American express personal savings, and are very happy. Keeping up with ally at 1.75%.

Your best bet might be to find out who has the best bonus and go with them.
by djpeteski
Wed Jul 11, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Home equity loan for a business quandary
Replies: 30
Views: 1126

Re: Home equity loan for a business quandary

Are you capable of taking on this loan? Is the house worth about 200k or more? If yes to both of those this is what I would do: 1) You pay off the loan, and it could be from a loan in your name. 2) Mom wills the house to you, this would compensate for you the paying off of the loan. Now you could pr...
by djpeteski
Wed Jul 11, 2018 6:58 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life - We're doing it. What to look for?
Replies: 128
Views: 7392

Re: Whole Life - We're doing it. What to look for?

Whole life gets a bad wrap because of the fees and poor investment returns. However, much like yourselves, we just advised a couple that should keep the whole life on the husband. He is basically uninsurable. In their case it is better to have whole than nothing. As others have said, I would check t...
by djpeteski
Thu Jul 05, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Pay off my car or trade in on new?
Replies: 36
Views: 1694

Re: Pay off my car or trade in on new?

Hi all! I currently drive an Audi S3, which I paid about $45k for 2.5 years ago and owe $24k on it currently at 0% interest. My payments are about $615 per month. While this sounds ridiculous, I’m a car guy so it’s justifiable. IMHO, being a car guy does not justify this purchase, your assets are t...
by djpeteski
Thu Jul 05, 2018 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Can't participate in 401k for 1 year
Replies: 33
Views: 2411

Re: Can't participate in 401k for 1 year

Do you have debt? Use that year to get out of or reduce debt. Do you have a rollover IRA? If not you can either do a ROTH or back door ROTH. Having a large amount in roll over makes the back door tough but doable. If you have money left over after being out of debt and/or doing a ROTH put it in a ta...
by djpeteski
Thu Jul 05, 2018 6:41 am
Forum: Personal Consumer Issues
Topic: bike helmets
Replies: 82
Views: 4534

Re: bike helmets

I cracked my head against pavement pretty good earlier this year. I broke my collar bone, ribs and punctured a lung. Although I hit the side of my head, I did not lose consiousness or suffer any kind of skull damage. I was wearing a Bell Draft helmet, retail price $35. I bought a replacement on amaz...
by djpeteski
Tue Jul 03, 2018 9:17 am
Forum: Personal Consumer Issues
Topic: Transporting bikes with an SUV?
Replies: 38
Views: 1730

Re: Transporting bikes with an SUV?

I would buy and install a hitch, and a 4 bike rack. I have used, and will always continue to use etrailer.com. They have videos on how to install the hitches, so you can make up your mind ahead of time if you want install it yourself or pay to have it done. They make it about as easy as possible and...
by djpeteski
Tue Jul 03, 2018 6:48 am
Forum: Personal Consumer Issues
Topic: Repair Vehicle or Move On?
Replies: 22
Views: 1493

Re: Repair Vehicle or Move On?

Presumably the mechanic will take the car from you, do the repairs when things are slow and resell the car. Generally speaking, these are the best cars to buy. Does the mechanic have any cars for sale? If so he may give you a bit of a discount if you "trade your car in".

But I would cut my losses.
by djpeteski
Fri Jun 29, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: $1 million house--- sanity check
Replies: 96
Views: 10285

Re: $1 million house--- sanity check

IMHO, you made the decision to not buy this house a while ago. By traveling the world, maxing in your 401K, etc.... instead of riding yourself of your student loans is when the decision was made. Even with maxing your 401K, it would take you less than 8 months to pay off your loans. If you had foreg...
by djpeteski
Thu Jun 28, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: What is your debt interest rate threshold?
Replies: 57
Views: 3338

Re: What is your debt interest rate threshold?

profet wrote:
Wed Jun 27, 2018 10:52 am
Student Loan @ 1.6%
In my opinion that debt is about 1.6% to high for my threshold. Playing the borrow and invest game, loses in long run.
by djpeteski
Thu Jun 28, 2018 6:59 am
Forum: Personal Consumer Issues
Topic: Sister-in-Law - trouble adulting - Pay medical bill?
Replies: 41
Views: 3517

Re: Sister-in-Law - trouble adulting - Pay medical bill?

It is very easy to make rash judgments without knowing the details, and even in your case you might not know all the details. So I would ask what is your goal? I would venture that it would get her to start adulting. So you need to do whatever the best thing to move her toward that goal. Suppose she...
by djpeteski
Mon Jun 25, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Settling Consumer Debt
Replies: 30
Views: 1615

Re: Settling Consumer Debt

Do you have the 3k? If you don't then this is a moot point. Keep in mind that unless you are being actively sued, then there is not much to worry about. You don't want to get into a situation where you are making payments to a collection agency as they will never end. When you have the cash in hand,...
by djpeteski
Fri Jun 22, 2018 1:51 pm
Forum: Personal Consumer Issues
Topic: 3 nights in Vegas
Replies: 49
Views: 3303

Re: 3 nights in Vegas

If you like sports-bar-type places, you should check out Burger Brasserie. It's in the connector between Paris and Bally's. That place is awesome. For a while, I was in love with a waitress from that place. Also in that tunnel is a Creape place. Very good. A friend's wife got a dress from the bouti...
by djpeteski
Fri Jun 22, 2018 6:04 am
Forum: Personal Consumer Issues
Topic: Did you celebrate when you finally hit $1m?
Replies: 161
Views: 14678

Re: Did you celebrate when you finally hit $1m?

We went out to a nice steak house with the adult children. I had the beef wellington. We did the same when we paid off the home. Giving and helping others is a important element of wealth building. Every year, my wife and I make a plan with planned expendable income. How much do we want to spend on ...
by djpeteski
Thu Jun 21, 2018 6:31 am
Forum: Investing - Help with Personal Investments
Topic: Evaluate my finances. Young guy.
Replies: 96
Views: 13581

Re: Evaluate my finances. Young guy.

I'm really not sure how that analogy applies. Like if the music stops = market crashed? If the market crashes 85%, then I might be on the verge of financial ruin...but at that point, I would believe the whole world would be in financial ruin too... If you take any kind of class that involves risk m...
by djpeteski
Wed Jun 20, 2018 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: Evaluate my finances. Young guy.
Replies: 96
Views: 13581

Re: Evaluate my finances. Young guy.

techcrium wrote:
Wed Jun 20, 2018 2:26 pm
As an update: I am glad I didn't listen to anyone about having lots of debt.
Most people don't lose on the first round or two of musical chairs either.
by djpeteski
Wed Jun 20, 2018 2:54 pm
Forum: Personal Consumer Issues
Topic: 1st Car Mechanic service experience
Replies: 41
Views: 2295

Re: 1st Car Mechanic service experience

For the record, the last dealership experience I had was a nightmare. They attempted to take advantage of my wife, and assumed she had no knowledge of cars. They even yelled at her at one point. To top this all of she made it an appointment and brought it in when they said. 48 hours later no work wa...
by djpeteski
Wed Jun 20, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for long-term care of a brother with Autism? (Financial aspect)
Replies: 27
Views: 1852

Re: Planning for long-term care of a brother with Autism? (Financial aspect)

Yep some term life insurance that has a special needs trust as the beneficiary. It will not cost you much. Good work.
by djpeteski
Wed Jun 20, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Help
Replies: 17
Views: 1347

Re: Student Loan Help

I see no reason not to snowball them: throw everything towards the smallest interest accruing debt, pay it of and go to the second smallest debt. And tick them off one by one. This, the mental and emotional energy that you will gain to have one after another loan paid off is worth the effort. Once ...
by djpeteski
Wed Jun 20, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Employer creating new role for my promotion, need help
Replies: 11
Views: 1665

Re: Employer creating new role for my promotion, need help

One word: Commendatore

Work that into your job title.

Like "Commendatore of Finance". Hell yeah!

Congratulations :sharebeer !
by djpeteski
Wed Jun 20, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Retire at 50: Should I?
Replies: 93
Views: 12157

Re: Retire at 50: Should I?

Congratulations! :sharebeer You seemed to have planned just about everything (no surprise as organized you come across). Have you planned additional fishing costs in your budget? I assume so, but it was not specifically addressed. Do this for a year, or two and reevaluate. Also you are going to need...
by djpeteski
Wed Jun 20, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 169
Views: 14703

Re: How much (green) cash at home for emergency ?

Between 1k and 2k. We have never used it for an emergency, but we can use it to pay people who do services for us. Its very handy and we get a good rate when they know they will be handed cash.
by djpeteski
Tue Jun 19, 2018 2:05 pm
Forum: Personal Consumer Issues
Topic: gray hair
Replies: 130
Views: 8419

Re: gray hair

I have a younger wife, and she looks a lot younger than she actually is. Me the same, except for my head of completely gray hair. Colored, I can pass for 38, natural 61. So I color. We buy the stuff from the beauty supply place and my wife does it. It takes her about 5 mins, and I do it once a month...
by djpeteski
Tue Jun 19, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1115
Views: 270903

Re: Best watch for around $5,000?

In my opinion: Garmin. Get a garmin watch for the step tracker alone. Challenge friends/family and yourself to meet your step goals. I have the 920XT which runs around $250. You might want a different model that has the integrated heart rate. Spend the rest on a bicycle.
by djpeteski
Fri Jun 15, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: $75,000 bonus - help me with my plan
Replies: 20
Views: 2417

Re: $75,000 bonus - help me with my plan

I think this is pretty easy. #1 Use the house down payment money to pay down your mortgage. I'd probably advocate using 10k of the savings to pay it off. No reason not earn 4.5% interest on money that is basically earning nothing. Plus home equity can be used as a house down payment. #2 Bonus comes ...
by djpeteski
Thu Jun 14, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Timeshare ever worth it? Please share details
Replies: 123
Views: 10689

Re: Timeshare ever worth it? Please share details

We are all over any good timeshare deal that can be had. We are bullet proof, as someone else mentioned, knowing that even if it is something that you want it can be had for pennies on the dollar on the secondary market. One thing to keep in mind: when you buy a point based timeshare you are also su...
by djpeteski
Wed Jun 13, 2018 9:48 am
Forum: Personal Consumer Issues
Topic: Best Father's Day Gift You Ever Received (or wish you'd received)
Replies: 23
Views: 2376

Re: Best Father's Day Gift You Ever Received (or wish you'd received)

With Father's Day around the corner, I was looking to get my father something nice. This year I won't be home for father's day and am still a medical resident with little money. But next year I will be back home and also should have more money as at attending. So, I was hoping to throw this out to ...
by djpeteski
Wed Jun 13, 2018 7:42 am
Forum: Personal Consumer Issues
Topic: Two Year Old Leftover Car
Replies: 15
Views: 1398

Re: Two Year Old Leftover Car

They will ignore any of your logical arguments and seek for you and your SO to become emotional. This... Same situation as I stated above. The discounts are there, you just have to be persistent. My dealer kept going lower and lower until he finally asked how he can earn my business. I said 12k out...
by djpeteski
Wed Jun 13, 2018 7:37 am
Forum: Personal Consumer Issues
Topic: Trade-up my $89 Walmart bike
Replies: 44
Views: 2705

Re: Trade-up my $89 Walmart bike

What is your net worth? What kind of income do you have? If either are high, then get over your price prejudice and buy the bike. Having a good bike is an amazing thing to own. It will help keep you healthy, happy, and around for your grandchildren. They need you. You deserve a bit of luxury. So you...
by djpeteski
Wed Jun 13, 2018 7:21 am
Forum: Personal Consumer Issues
Topic: Two Year Old Leftover Car
Replies: 15
Views: 1398

Re: Two Year Old Leftover Car

My thinking is that since there's still so many of these in dealer stock, and they don't want two year old new cars on their new car lot, hyundai must be thinking of providing some kind of extra cash to get rid of them. You have a fundamental problem here: you are overlaying logic onto the situatio...
by djpeteski
Tue Jun 12, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Car Lease for parents
Replies: 37
Views: 2660

Re: Car Lease for parents

You can do monthly payments with purchases. I agree, but it is attractive to her for two reasons: The first is that the payments are lower, she has more free cash flow. The second is that she never has to worry about repair or maintenance. She gets to turn the car in prior to even the tires wearing...
by djpeteski
Mon Jun 11, 2018 10:46 am
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4312

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

From the Fidelity Flex 500 Index Fund page:
Shares are available only to certain fee-based accounts offered by Fidelity.
Okay, you can get free mutual funds if you pay for our advisory services.

I would rather have a 0.035% (FUSVX) rather than 0% on FDFIX and at least 1% on my entire portfolio.
by djpeteski
Mon Jun 11, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Car Lease for parents
Replies: 37
Views: 2660

Re: Car Lease for parents

Car leases are bad regardless of age. This is so true. However, my mom leases and I think it is the right thing for her. She is the kind of a person, that would freak out, if she took 1,000 out of savings, but then replaced it with 1,100 worth of income over 6 months. Her income is pension/ss based...
by djpeteski
Fri Jun 08, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 2790

Re: Buying a house in Florida but you are hundreds of miles away

One thing that you should know is that Florida real estate moves pretty darn fast. Lets assume that they have vacationed enough here or even lived here previously enough to know that they want to live in Florida and have a good idea of the area in which they want to live. While it is not quite the e...
by djpeteski
Tue Jun 05, 2018 9:42 am
Forum: Personal Consumer Issues
Topic: The "Difference Card", does anyone have any experience or knowledge ?
Replies: 5
Views: 837

Re: The "Difference Card", does anyone have any experience or knowledge ?

While I did not look at the video content, it seems like a combination discount health cards and an FSA. Its likely that the "discount" part of it is not a discount at all, as typically those discounts are meant for those without health insurance. The insurance companies already negotiate deep disco...
by djpeteski
Thu May 31, 2018 2:07 pm
Forum: Personal Consumer Issues
Topic: Advice for assisting 18 year old son after high school
Replies: 70
Views: 5336

Re: Advice for assisting 18 year old son after high school

U S Marines As a former Marine, I would suggest that only if other attempts fail. Plus dad/mom/aunt/uncle cannot force him to join. Even if he does there are easy enough ways to get kicked out. All you have to do is refuse to do push ups or some such thing. He should be given a chance to succeed wi...
by djpeteski
Thu May 31, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: Advice for assisting 18 year old son after high school
Replies: 70
Views: 5336

Re: Advice for assisting 18 year old son after high school

I was dealing with some of those things with my son who is now in law school and really makes his father proud. In my opinion you have to take a crawl/walk/run approach to him managing his life and finances. I also believe that everything has to be spelled out in a document that is agreed upon by yo...
by djpeteski
Thu May 31, 2018 12:30 pm
Forum: Personal Consumer Issues
Topic: Enterprise vs Avis
Replies: 43
Views: 2590

Re: Enterprise vs Avis

I really like National and signing up for their loyalty program. Their rates are pretty competitive, on their web site, but I love the ability to pick my own car.

You just fly in, go to the class you reserved and pick the car you like. Their are certain cars I hate to drive and can avoid those.
by djpeteski
Thu May 31, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 17946

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

Ours didn't, and I am still bitter at basically having been bullied by the kids' high school advisors and others into applying for the FAF and the FAFSA,... This. We stood up to them and did not bother. More than net worth, I think it comes down to income. Our daughter even had one of her classes i...
by djpeteski
Fri May 25, 2018 8:48 am
Forum: Personal Consumer Issues
Topic: Has anyone used www.newacunit.com before
Replies: 5
Views: 503

Re: Has anyone used www.newacunit.com before

I am in the market for a new ac unit and I came across to this website I needed to replace my old unit and so I knew the specs. I entered 2.5 tons in the attic and the results are unbelievable cheap The cheapest local AC guys gave me $3,150 for parts and $900 for labor totaling around $4,000 But th...
by djpeteski
Wed May 23, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 2677

Re: Need help with debt strategy

*29 Year old male in CA graduating this May with no kids or wife. *Currently take home $700/week. *Starting salaried June 1 and will jump up to $69k per year or $1327/week before taxes. *Current Cash is $1700 *ROTH IRA worth $8600 in fund HCTAX through a brokerage.I deposit $100/month into this. I ...
by djpeteski
Tue May 22, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy a new car?
Replies: 46
Views: 2993

Re: Should I buy a new car?

letsgobobby wrote:
Tue May 22, 2018 8:12 am
You say money is just piling up. Where's the pile?
+1 The 35k for new will clean out your efund. Do you have the cash to pay for such a car? Are you looking to take your efund to 19k (6 months of expenses) and a used Jag for 16k?
by djpeteski
Tue May 22, 2018 10:05 am
Forum: Investing - Theory, News & General
Topic: The Millionaire Next Door and civil servants
Replies: 99
Views: 14350

Re: The Millionaire Next Door and civil servants

To date, this is the first criticism of The Millionaire Next Door and Stop Acting Rich that I have seen or heard. Some of the criticism that I read here, is decent, but it ignores the fundamental truths of these books. Namely: those that actually have money, tend not to look like they do; and, those...
by djpeteski
Tue May 22, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey it or keep low interest debt
Replies: 134
Views: 9408

Re: Dave Ramsey it or keep low interest debt

Thank you both. I realize it’s a heart vs brain issue. My brain says keep it as I’ll likely earn more in my accounts but heart would prefer to payoff For this reason I would recommend to pay off all your debt. Feelings are real and I can only say that this math guy has discovered that it is far mor...
by djpeteski
Tue May 22, 2018 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Home Loan from Parents
Replies: 24
Views: 2347

Re: Home Loan from Parents

There is a small set of circumstances that this can work out: You always pay your bill on time, but not really early They are comfortable with the terms of the loans There is no sibling jelousy They live to the end of the term of the loan. There is a large set of circumstances in which this can go b...