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Olemiss540

Your path seems amazing, excepting the major life change you are expecting (world travel for a year). This major goal seems to conflict with the idea of buying a house, new car, etc if you are just going to light it on fire and go see the world (which sounds wonderful). Why purchase larger fixed ass...

Olemiss540

Do not contribute to a 529 IMO. It will count against you in terms of assets and at your income level, are looking at potentially substantial financial assistance levels if the bulk of your savings is inside of retirement accounts. I would work on saving inside my workplace retirement accounts if yo...

Olemiss540

I, liked several others, have missed the boat when I came out of equity funds into bonds in 2013-14, when stocks more than doubled from their lows in 2009. Currently, more than 40% of my investment portfolio of $750-800K sits in bonds and cash. I have been waiting to get back when prices became rea...

Olemiss540

I, liked several others, have missed the boat when I came out of equity funds into bonds in 2013-14, when stocks more than doubled from their lows in 2009. Currently, more than 40% of my investment portfolio of $750-800K sits in bonds and cash. I have been waiting to get back when prices became rea...

Olemiss540

VUSXX is state tax free, has a 7 day SEC yield of 2.33 net of expenses, and is backed by Treasuries (fully liquid).

It does have a $50k minimum initial investment but supposedly can drop lower than that once you have made your purchase.

Olemiss540

I live in the Balt metro north area (Westminster) . Quick 2HR 15 MIN flight on SW to Tampa, hit St Pete beach, Clearwater, Treasure Island. Pretty much safe on good weather this time of year. We have a place in St. Pete beach, go once a month or so for long weekends, and a few weeks a year. Somewha...

Olemiss540

It sounds like it's time for a portfolio review! Please follow the wiki/format for asking portfolio questions so we can provide as much input as possible. It's time to consider committing to a 3 fund portfolio or a single all-in-one fund like a conservative target date fund. Set it and forget it! Yo...

Olemiss540

I have also read that Vanguard can have better tax efficiency and diversity within their funds than many of their competitors, but my point is there are many reasons to look at aside from what a salesman is pitching you. According to OP, this a 401k, so tax efficiency shouldn't be an issue. I read ...

Olemiss540

The W's are fine and 20% wont really move the needle too much either way. I tend to error on the side of simplicity (which is why I love the 3 fund portfolio) so would choose an all in one fund (if taxable investments are small) or hold strictly a 3 fund portfolio if large equity holdings in taxable...

Olemiss540

I have also read that Vanguard can have better tax efficiency and diversity within their funds than many of their competitors, but my point is there are many reasons to look at aside from what a salesman is pitching you. 4 hundredths of a percent is completely negligible in the scheme of things, and...

Olemiss540

I say you are well on your way. Keep saving max in your retirement funds and through raises and other income increases, I am guessing you will have a house before your 30! That's not late regardless of what HGTV shows tell you. People dont need a house when they are young and in love. Hell, we barel...

Olemiss540

Could you elaborate on this? I was not aware that you could get more than 2% cash back. Presumably because of tax-free earnings. Yes. 2% cashback automatically deposited to ROTH IRA or 529 instead of taxable accounts. A cash back deposited into a Roth IRA will be counted towards the annual contribu...

Olemiss540

Sounds like you need to take a mental break from finances. Quit reading financial forums, planning retirement, thinking about income levels, etc. Many times, contentment can be derived from being more aware of your thoughts and actions driving the opposite. When you start concerning yourself with mo...

Olemiss540

Easy. Send a hand written note thanking them for their time but letting them know you have reconsidered the option of purchasing for the time being. Possibly send some with a little gift as a sign of appreciation?

Olemiss540

I like to book wanna get away fares on Southwest. Seems like a pretty good value to me, and simple for my normal routes

Olemiss540

Where is your brother and your 4000 dollar couches?

Olemiss540

Prime = better yield? Or should I not use effective tax rate but instead marginal? It depends. If that income from Prime is already in the income that was used to calculate your effective state tax rate then it may be OK to leave your calculation as is. If this will be new income not previously tax...

Olemiss540

I have heard of a website called task rabbit. They usually do errands or furnature building, but it appears data entry is an option. Might be worth a look!

Olemiss540

Simple to compare rates by multiplying 1.0385 by the VUSXX rate to yield a comparable after tax rate. 2.32 x 1.0385 = 2.41%<2.47. Obviously things shift every 7 days, so these calculations can be constant. Keep in mind that the Prime MM fund does NOT have a stable $1 value per my research, so it can...

Olemiss540

That company sounds like a real cluster-mess. :mrgreen: She should take any severance offered and go work for the competition. She should also see if she can find a microphone in the building so she can drop it on her way out :twisted: I would want my severance as well as a raise. Take it as she ha...

Olemiss540

Once your plan is set and you are working it with success, the next step is to forget about it! Trying to focus your energy on ANYTHING else as the plan goes on autopilot and the money starts to compound. It's the opposite of when your eyes deep in debt and every thought has to be laser focused on m...

Olemiss540

Seems like you have already answered your question. You only want to pay off one debt and you want to do it to improve cashflow. The only answer with your restrictions is to payoff debt #1 (the largest impact to cashflow) and invest the remaining. You are hesitating because the rates are so low, but...

Olemiss540

OP, I don't believe that I am going to say this. Instead of paying the mortgage down, put the money into 529. How much money are we talking about here? << I understand that I could possibly have a higher rate of return just investing. However, I greatly desire the freedom that a paid off mortgage o...

Olemiss540

yes, SALT is capped at 10k now, but the AMT threshold also increased to 500k/1M (single/married). in the previous law, if you're able to pay so much in SALT (more than the new 24k standard deduction), it also likely means you're paying extra taxes via AMT; not so anymore. for the most part everyone...

Olemiss540

I would hope you would rank the states with a heavy weighting on 1) proximity to family 2) proximity to friends 3) appealing living conditions - climate, traffic, healthcare, activities then a very distant last place 4) financial considerations like taxes and COL Too many people retire early to som...

Olemiss540

Consider posting your car question on an automotive forum for feedback on make/model/year as well. It's incredible the amount of very specific knowledge these people hold and are willing to share (similar to bogleheads). Grassroots Motorsport Reddit r/cars forum Those are a couple to consider. Askin...

Olemiss540

How long would 140k cover expenses at a bare bones level assuming the worst case scenario? Also, it is not BAD to dip into a taxable account in an emergency. Bonds are held for this VERY reason. Even if you keep your bonds in your tax advantaged accounts and only stocks in your taxable account (for ...

Olemiss540

VUSXX is vanguard's treasury fund with a 2.3% yield. Totally liquid, and backed by the US govt. Also is state tax free!

Olemiss540

We really need more specifics with regards to current amounts, incomes, expenses, projected retirement expenses, ages, asset allocations, etc.

Olemiss540

IMO take in the information in Dave Ramsey total money makeover and work the plan. Come back here once the debt is gone!

Dont try to rush investing. Your investment plan is only as good as your financial footing.

Olemiss540

I have zero knowledge (yet) of the subject, but is SDC the one dentists are allowed to do? I was told by my dentist that the industry was going to get more cost effective through treatment with a dentist instead of orthodontist.

Olemiss540

As mentioned above, I do worry a bit about driving my current car until it completely dies and then not being in a good negotiating position or having time to do proper amount of research due to having to buy a car relatively quickly (live alone). I might be overly concerned about this as I have on...

Olemiss540

Save up the cash and put taxable investing on hold. Going to be a huge chunk of money, but the pain may prove useful in determining what option packages you really NEED on that new ride. Definately get a minivan. Maybe consider a low mileage pre owned if you can get a good deal on one. On target qui...

Olemiss540

I bought a 14 year old car and am only on year 3 of ownership. I like buying my cars from folks like you.

Olemiss540

Typically 5-8k. Just opened a Fido CMA to try and minimize.

Olemiss540

Dont mess with it in my opinion. Want to lower your taxes, just start maxing out your 401k now and make sure your with holdings is set appropriately so you get the tax break immediately.

Olemiss540

Depends how much your significant other makes.

Olemiss540

From my experience, the wife hit her individual deductible which meant we spent approximately half of the OOP max. The children were healthy and the frequent checkups were free due to being preventative care. My brothers was the same result but no guarantees obviously. On my plan, even if we hit the...

Olemiss540

Sadly (depending on where you live), the high income tax states got hit the hardest (especially those without kids) with the latest tax legislation. Bunching deductions, relocating to a lower tax state, investing in tax efficient funds, having children, giving more to charity, etc are all perfectly ...

Olemiss540

Getting an ultra luxe car just because I can afford it. At a certain price point a fancy car becomes more of a burden on your anxieties, rather than a pleasure to use. Just because a Rolls Royce Phantom at $500k is under 6 months of your income (my yardstick for car affordability during my entire w...

Olemiss540

This is what I would do: -Max out 401k, why? You are young and right now is THE time to let your investments grow and compound. You will thank yourself later when you are in 30's -Max out Roth IRA (looks like you are already doing this) -Pay off that car loan ASAP. Why earn 2.2% when you are paying...

Olemiss540

I lower my projected rate of return to account for inflation. If I think 6% nominal returns, I will instead use 4% real returns in my investmenet projections.

This is less confusing for me to deal in real dollars instead of inflated dollars/nest eggs.

Olemiss540

One con to 529s is that they count against you in FAFSA filings. Not knowing what my salary will be once I am paying for college, hoping to "hide" as much as possible in retirement acts before then

Olemiss540

How much does a road trip to the mountains cost? Biking, beach going, fishing, hiking, etc etc. Saying that the extra 7% is going to have you happily climbing into your deathbed at 45 is a little bit dramatic. Heck, in a couple years you will have probably recieved pay increases of that much between...

Olemiss540

It is important now that you are out of debt to prevent getting back in! 1.) Start a budget and LIVE by it. Only stray if you and your spouse have agreed. 2.) Pay yourself first (start putting money in your husband's 401. Atleast 15%. 3.) Strongly consider public schools 4.) What type of health plan...

Olemiss540

Pay down the mortgage and open a Heloc?

Olemiss540

We live in NYC. Child support, lawyer debt, small car payment, medical bills, and CC bills are eating all the money. Moving is not an option. The money is going toward debt and has been for years. He is exhausted and has fought the good fight but he needs to be happy even it means making a less the...

Olemiss540

Nothing better than working through taxes by hand. Google/search threads with specific advice regarding your particular issues. Nothing you are going to ask hasnt been asked a thousand times before, so the information is all readily available. Once you have worked through your own taxes by hand, sta...

Olemiss540

Any early retirement goals? Any state income taxes? What is your current level of expenses not including retirement savings?

Olemiss540

I would split the difference if I was having a hard time. There is no wrong answer, and impossible to know the right answer until hindsight will allow.

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