Search found 30 matches

by LEB1230
Fri Oct 06, 2017 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Student Debt Advice
Replies: 17
Views: 1206

Re: Student Debt Advice

If you got serious and worked hard (maybe pick up a part time side job) you could have these loans paid off in 3 years or less. I wouldn't worry about saving/investing until you had these debts paid off. Once these debts are paid off you will then have plenty of "extra money" to invest. No way would...
by LEB1230
Thu Oct 05, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Student Debt Advice
Replies: 17
Views: 1206

Re: Student Debt Advice

I'd recommend you pick up a copy of The Total Money Makeover by Dave Ramsey and read it. I wish I had read it much earlier in life than I did. Once you are through baby step three come back here for your investing advice.
by LEB1230
Wed Oct 04, 2017 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much term life insurance is enough?
Replies: 11
Views: 1018

Re: How much term life insurance is enough?

I carry 10 times my take home pay. You mentioned Dave Ramsey and I used Zander for term insurance that he endorses.
by LEB1230
Tue Oct 03, 2017 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: We're Debt Free (Except our House)!
Replies: 34
Views: 3162

Re: We're Debt Free (Except our House)!

we are putting 15% towards retirement (combination of 401K's and Roth IRA's) and we recently refinanced our home to a 20-year mortgage. We also have $26,000 in our savings account/emergency fund. putting 15% towards retirement vs maxing out your retirement are two different things. I guess that wou...
by LEB1230
Tue Oct 03, 2017 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: We're Debt Free (Except our House)!
Replies: 34
Views: 3162

Re: We're Debt Free (Except our House)!

I struggled with the save more vs payoff mortgage myself. I know that mathematically its best to save more with the assumption that the stock market average return will be greater than the loan rate. The other part of me can see the financial peace that a paid off home would bring.
by LEB1230
Sat Sep 30, 2017 7:16 am
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24099

Re: I won the Lottery. Need sound advice.

Regarding the mortgage, ask yourself if your house was paid off today would you go borrow 325k against it to invest?

If not, pay off the mortgage.
by LEB1230
Fri Sep 29, 2017 5:37 am
Forum: Personal Finance (Not Investing)
Topic: Are we suckers for not pursuing Public Service Loan Forgiveness?
Replies: 18
Views: 2013

Re: Are we suckers for not pursuing Public Service Loan Forgiveness?

Does your fiancee want to be tied to a non profit for 10 years? Many people that go this route feel they have to stick it out with a job they hate so they can get the loan forgiveness. Borrow the minimum and pay it off as quickly as possible, it provides her greater freedom to pursue the career she ...
by LEB1230
Mon Aug 28, 2017 9:51 am
Forum: Personal Consumer Issues
Topic: Comcast got me over a barrel-Help
Replies: 23
Views: 2222

Re: Comcast got me over a barrel-Help

Do you have a cell phone and can you use it as a mobile hotspot?

If not you can always go get a "hotspot" from just about all of the wireless providers.
by LEB1230
Wed Aug 23, 2017 2:23 pm
Forum: Personal Consumer Issues
Topic: Lowes vs Home Depot
Replies: 60
Views: 7176

Re: Lowes vs Home Depot

Menards- but I worked there during high school and college so I know where everything is located and for a young adult working there they treated their employees fairly well. If I need lumber I do go to Lowes as it seems better than what Menards carries. I only go to Home Depot to take the kiddos th...
by LEB1230
Mon Aug 21, 2017 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3093

Re: Advantages of Having No Credit Score

You don't need a credit card to rent a car. I rented one in June and used a debit card with no hassle. Debit cards don't provide rental car coverage like many credit cards do. Did you pay for the rental-counter LDW coverage? No LDW coverage. Our car insurance carries over and covers a rental car sh...
by LEB1230
Mon Aug 21, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3093

Re: Advantages of Having No Credit Score

michaeljc70 wrote:
Mon Aug 21, 2017 3:04 pm
Do you prepay your gas, electric, water bill, etc? If not, then you technically have debt.
Since they hold a deposit, I'd say I've technically prepaid for those services.

PS. Your the one that said you could be debt free and have a credit score, not me.
by LEB1230
Mon Aug 21, 2017 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3093

Re: Advantages of Having No Credit Score

michaeljc70 wrote:
Mon Aug 21, 2017 2:54 pm

If you pay off all your debt, your credit score doesn't suddenly disappear. It would take many years and probably still would not go away until everything fell off your file.
It takes about 6 months from the time you pay off your last debt to have no credit score.
by LEB1230
Mon Aug 21, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3093

Re: Advantages of Having No Credit Score

michaeljc70 wrote:
Mon Aug 21, 2017 2:44 pm

You can have a credit score and be debt free.
No you cannot. You have to use some form of credit (debt) to maintain a credit score. Even if your using a credit card and paying it off every month that is a form of debt.
by LEB1230
Mon Aug 21, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3093

Re: Advantages of Having No Credit Score

I'd say the biggest advantage is it means your debt free. You don't need a credit card to rent a car. I rented one in June and used a debit card with no hassle. Might I miss out on a 0% deal on a new car? Nope, we don't buy new cars so that does not affect us. Save up and pay cash for a 2-4 year old...
by LEB1230
Fri Aug 18, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting index funds in 401k
Replies: 1
Views: 170

Requesting index funds in 401k

Has anyone done this and been successful on getting their employer to add some Index Funds to 401k options? Our fund currently offers a S&P 500 index, but I'd like to request an international and bond indexs to be added. I've read the Wiki page on campaigning for index funds in your 401k, but I'm lo...
by LEB1230
Thu Aug 17, 2017 10:04 am
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

Re: 401K Fund Choice Guidance

Maxing out your 401K is the most automatic, fool-proof, and painless way to build wealth. Many people hope to contribute to a Roth IRA, but often something derails the plan, especially when the budget is tight. A car repair, broken tooth, or some other emergency can zap even the best laid plans for...
by LEB1230
Thu Aug 17, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Can I get a Boglehead view of how we are doing?
Replies: 6
Views: 1167

Re: Can I get a Boglehead view of how we are doing?

IMHO, it all depends on what you expect in retirement. What's your standard of living going to be? 900K sounds like a lot, but your currently bringing in 275-300k a year. 900k won't last long if you expect to maintain that standard. Edit, sorry missed that you indicated you wanted 150k a year in ret...
by LEB1230
Thu Aug 17, 2017 8:30 am
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

Re: 401K Fund Choice Guidance

I think the better plan is contributing the maximum $5.5k/yr to two IRAs, one for each of you, starting this year. Why a Traditional IRA vs Roth IRA? I know with my current tax bracket that its likely to be less in retirement which leans towards the tIRA, but with 30 years till retirement a lot can...
by LEB1230
Thu Aug 17, 2017 7:27 am
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

Re: 401K Fund Choice Guidance

Ruralavalon- Thank you for the very detailed and informative post. I should have noted I have read The Bogleheads Guide to Investing, The Bogleheads Guide to Retirement, and Common Sense on Mutual Funds. I'm very aware of the Boglehead investment philosophy and the Three Fund Portofolio. I guess ult...
by LEB1230
Wed Aug 16, 2017 8:45 am
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

Re: 401K Fund Choice Guidance

Thanks for the responses. I think I'm more confused on what to now than I was before though. One of you said they are all bad choices and the other said they were very good funds.
by LEB1230
Tue Aug 15, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

Re: 401K Fund Choice Guidance

The 401k contribution limit for employee salary deferrals for 2017 is $18,000. You posted that your 401k contribution is 18,500 annually. Does this number include employer contributions? The 18K contribution limit is for your contributions. Employer contributions are not counted in that 18K. As suc...
by LEB1230
Tue Aug 15, 2017 11:45 am
Forum: Investing - Help with Personal Investments
Topic: please help...am I overextended - first home
Replies: 78
Views: 6773

Re: please help...am I overextended - first home

Your overextending yourself. Save up and put down a larger down payment or find a less costly house to purchase.
by LEB1230
Tue Aug 15, 2017 11:32 am
Forum: Investing - Help with Personal Investments
Topic: 401K Fund Choice Guidance
Replies: 13
Views: 695

401K Fund Choice Guidance

Hi all, I've been reading a lot of investment books the last couple of months. We went through financial peace university early this year and will be in a position to max out my 401k next year. I've been putting money the into 401k over the years but have not really paid much attention to it and had...
by LEB1230
Tue Aug 15, 2017 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Plan for making child pay for part of college
Replies: 111
Views: 6006

Re: Plan for making child pay for part of college

Our kids are young (6 and 3) and we are starting to save for their college. We have discussed college funding and we want our kids to have some "skin in the game." Our plan is to provide 50k (each) for their college education which will be roughly half (trying to guess 12+ years out) of the cost for...
by LEB1230
Mon Aug 14, 2017 7:27 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey spends two segments on his investing advice
Replies: 65
Views: 7356

Re: Dave Ramsey spends two segments on his investing advice

Dave's vague investment advise is the put 25% in Growth, 25% in Growth and Income, 25% in Aggressive Growth, and 25% in International. There have been two funds identified that have out performed the S&P overtime (excluding fees). I believe both of the funds would fall into the category of Growth. W...
by LEB1230
Sun Aug 13, 2017 4:22 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey spends two segments on his investing advice
Replies: 65
Views: 7356

Re: Dave Ramsey spends two segments on his investing advice

We've followed Dave on our way out of debt. As we are close to step 4 I began several weeks ago educating myself on investing, which is what has lead me here. I've learned what many others have already said on this forum that his advice on dumping debt is sound but when it comes to investing do your...
by LEB1230
Sat Aug 12, 2017 9:28 pm
Forum: Personal Consumer Issues
Topic: Public vs Private Elementary
Replies: 57
Views: 3475

Re: Public vs Private Elementary

Is great school rating a good basis in deciding if the public elementary is good or not? Of course we will go to open house to check other factors too. Thanks! I don't even know what our local school rating is. We moved here three years ago and talked to locals and co-workers and asked which school...
by LEB1230
Sat Aug 12, 2017 8:43 pm
Forum: Personal Consumer Issues
Topic: Public vs Private Elementary
Replies: 57
Views: 3475

Re: Public vs Private Elementary

We already pay for school through taxes. As long as your in a good public school system I see no advantage to paying for private school.
by LEB1230
Fri Aug 11, 2017 6:57 am
Forum: Personal Consumer Issues
Topic: First time home seller, advice on FSBO, MLS, etc?
Replies: 7
Views: 729

Re: First time home seller, advice on FSBO, MLS, etc?

I sold a house 3 years ago as FSBO. My plan was to stick a sign in the yard for 2-4 weeks and see if I had any interest from people just driving past and post it on a local community forum. When I posted it on the community forum I offered to the members that if they referred my house to someone the...
by LEB1230
Tue Aug 08, 2017 7:22 pm
Forum: Local Chapters and Bogleheads Community
Topic: Derby City (Louisville) Bogleheads Master Thread
Replies: 7
Views: 2167

Re: Derby City (Louisville) Bogleheads Master Thread

Hi. Is this group still meeting? I'd be interested in coming to a meeting.