Search found 20 matches

by Lynx310650
Sat Jan 20, 2018 3:29 pm
Forum: Personal Consumer Issues
Topic: Pros and Cons of High Rise Condos for retired couple
Replies: 19
Views: 1708

Pros and Cons of High Rise Condos for retired couple

We had dinner with the in-laws last night. They said they are planning on moving, and wanted to seek our opinion. I don't know their finances in details, but the broad strokes are that they are retired in their late 50s, high 5 figure (I think around 80k) annual COLA pension, healthcare provided by ...
by Lynx310650
Fri Jan 12, 2018 12:41 pm
Forum: Personal Consumer Issues
Topic: Almost a pathological fear of debt, to my detriment?
Replies: 79
Views: 4458

Re: Almost a pathological fear of debt, to my detriment?

Do you have a mortgage? That is probably the biggest way you can safely leverage debt. Unless you plan to go back to college, anything else is too short term and likely high interest, so using debt to invest could easily backfire. I would just enjoy the debt free lifestyle. Sure, you could churn 0%...
by Lynx310650
Fri Jan 12, 2018 12:33 pm
Forum: Personal Consumer Issues
Topic: Almost a pathological fear of debt, to my detriment?
Replies: 79
Views: 4458

Almost a pathological fear of debt, to my detriment?

I just cannot stand debt, even when it's arguably to my benefit to hold on to it because of low interest. Last year I paid off my spouse's $15000 student loan balance even though the interest rate was around 1.5%. I tried to hold a balance on my 0% intro APR credit cards, but hated seeing a balance ...
by Lynx310650
Wed Jan 10, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Input/Thoughts Needed: Education/Career Path - Crucial Life Point
Replies: 14
Views: 871

Re: Input/Thoughts Needed: Education/Career Path - Crucial Life Point

I am sorry if you mentioned this in your OP (it was quite long but I did try to read it as carefully as possible!). Any reason you don't want to try your hand at making a living through live poker? Also IIRC online poker is legal in Nevada now. So any chance you can move to Vegas, go back to playing...
by Lynx310650
Sat Jan 06, 2018 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Shall I buy a one B/B apt in Bay Area? Help needed, please.
Replies: 18
Views: 1547

Re: Shall I buy a one B/B apt in Bay Area? Help needed, please.

I am not sure if you have enough money. 50k in cash would be a 20% DP on a 250k home. You cannot get even a 1br condo in the Bay Area for that much. Generally it's going to be double that. Without being able to come it with at least 20% down, I'm not sure your offer will be competitive enough to win...
by Lynx310650
Sat Dec 30, 2017 11:25 pm
Forum: Investing - Theory, News & General
Topic: Paying off mortgage before investing at all?
Replies: 75
Views: 7604

Re: Paying off mortgage before investing at all?

Surprisingly have not seen this mentioned yet, so hopefully I am not incorrect or maybe it's not that important of a factor. But I believe generally 401ks have very good protection from creditors. I believe you can protect the entire amount in bankruptcy or if some judgment is entered against you be...
by Lynx310650
Mon Dec 25, 2017 1:45 am
Forum: Personal Finance (Not Investing)
Topic: car thread- too much money?
Replies: 85
Views: 6956

Re: car thread- too much money?

With your income you should be fine. IF you are concerned and don't want to buy used, I'd consider going a bit cheaper in cost. You are looking at $67k combined for the 2 cars. I'd consider maybe a Toyota RAV-4 / Honda Accord base model combination or the like, you might be able to come in at about ...
by Lynx310650
Thu Dec 14, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Utilizing Intro 0% APR Credit Card offers the right way
Replies: 9
Views: 524

Re: Utilizing Intro 0% APR Credit Card offers the right way

Are there very many that don't have a 3% up front fee? Last time I checked (about 12 months ago), there was only one I found without the fee and it had the shortest 0% interest period (12 months). All of the others I found (with anywhere from 12 months to 24 months 0% apr) included a transfer fee. ...
by Lynx310650
Thu Dec 14, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Utilizing Intro 0% APR Credit Card offers the right way
Replies: 9
Views: 524

Utilizing Intro 0% APR Credit Card offers the right way

I've been playing the CC churning game to some good success lately, and the impact on my credit score has been minimal. Some of these cards come with 0% APR offers on purchases. I never carry balances on credit cards, but this seems to be a good way to at least make some extra couple of bucks in int...
by Lynx310650
Wed Dec 13, 2017 12:38 pm
Forum: Personal Consumer Issues
Topic: To buy or not in the SF Bay Area (yes another one)
Replies: 24
Views: 2421

To buy or not in the SF Bay Area (yes another one)

Our current living situation is a 1 bedroom condo rental. Our landlord is terrific, uses a management company that handles all our issues within 24-48 hours. Our rent is kept about 5-10% below what surrounding "market" rent would be. The best thing is my spouse and I both are within walking distance...
by Lynx310650
Fri Dec 01, 2017 8:09 pm
Forum: Investing - Theory, News & General
Topic: Which crash have you seen it before it is coming?
Replies: 134
Views: 10049

Re: Which crash have you seen it before it is coming?

Housing crash of 2008. I was a student then with a negative net worth, so I wasn't in a position to profit from it (I wouldn't have known how anyways) nor was I exposed since I didn't own a home or have money in the stock market. I mean maybe this is just hindsight is 20/20 or I hung out with a lot ...
by Lynx310650
Mon Nov 13, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment
Replies: 36
Views: 3344

Re: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment

Just so I am clear, your currents savings, excluding a very healthy emergency fund, will meet your future needs beginning at age 60 assuming a 2% real return, and you have a 25% buffer built in? Yes, this is the more concise way to put it, thanks. My personal preference on how to go about this woul...
by Lynx310650
Mon Nov 13, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment
Replies: 36
Views: 3344

Re: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment

Just so I am clear, your currents savings, excluding a very healthy emergency fund, will meet your future needs beginning at age 60 assuming a 2% real return, and you have a 25% buffer built in? Yes, this is the more concise way to put it, thanks. My personal preference on how to go about this woul...
by Lynx310650
Mon Nov 13, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment
Replies: 36
Views: 3344

Re: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment

letsgobobby wrote: ↑
Mon Nov 13, 2017 12:42 pm
Just so I am clear, your currents savings, excluding a very healthy emergency fund, will meet your future needs beginning at age 60 assuming a 2% real return, and you have a 25% buffer built in?
Yes, this is the more concise way to put it, thanks.
by Lynx310650
Mon Nov 13, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment
Replies: 36
Views: 3344

Actually might have "enough", thinking of suspending retirement savings in favor of saving for down payment

I was playing around with online calculators and my numbers last night. I have saved enough money so far so that if I didn't contribute an additional dime, my current savings would grow to my needed retirement number by age 60 (my desired retirement age), assuming 5% annual growth (very conservative...
by Lynx310650
Wed Nov 01, 2017 1:16 am
Forum: Personal Finance (Not Investing)
Topic: I'm fairly young but done with saving money
Replies: 75
Views: 9864

Re: I'm fairly young but done with saving money

Seems like savings fatigue. I think not saving anything is too drastic, but how about a happy medium? At least take advantaged of tax-advantaged space? So maybe commit to saving in your 401k up to company match and maxing out IRAs. If that doesn't hurt too much, maybe max 401k as well, but also forc...
by Lynx310650
Thu Oct 12, 2017 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with fairly large amount of money in "maybe" house fund?
Replies: 5
Views: 975

What to do with fairly large amount of money in "maybe" house fund?

We live in the SF Bay Area. We've saved an amount of cash for a down payment based on a hypothetical house purchase based on what we'd want and what we could afford if we were to buy today. That means about a $700k condo, so we have saved $150k in cash that's sitting currently in an online savings a...
by Lynx310650
Thu Sep 28, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area Real Estate
Replies: 154
Views: 15952

Re: Bay Area Real Estate

OP, going through same dilemma as well. The math for me is especially hard to swallow on a condo (which is what we could afford). Seems like the condo we are renting right now would be sellable for about $600,000. HOAs are high here too, about $500/month. So it seems like property tax + HOA alone wo...
by Lynx310650
Sat Sep 16, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Advice on Parents' Financial Situation
Replies: 11
Views: 1600

Re: Advice on Parents' Financial Situation

Thank you for all your suggestions and advice. I will say it's really difficult to discuss any of these things directly with my parents not just due to the emotional issues, but also there is a degree of a language barrier as I have a hard time communicating financial/business concepts in my parents...
by Lynx310650
Fri Sep 15, 2017 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Parents' Financial Situation
Replies: 11
Views: 1600

Advice on Parents' Financial Situation

My parents are in their early 60s. They are 1st generation immigrants. Their source of income is a small business they've owned and operated for about 20 years now. For about the first 10 years, it was doing fairly well. They were never going to get rich on it, but enough for a modest middle class l...