Search found 139 matches

by bg5
Thu Jul 30, 2020 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 71
Views: 5771

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

Man....this forum is great but now i cannot figure out what to do. Our current house payment is $1086....once we pay it off my taxes would be $330 a month so basically once I pay off the house I free up an additional $740 a month. But as others have pointed out investing all that cash each month can...
by bg5
Wed Jul 29, 2020 10:07 am
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 71
Views: 5771

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

Great feedback from everyone and that is why I love this site. Some things really stood out after reading everyones advice... 1. Since my wife and I can both collect pensions and SS our retirement income will be extremely high without even touching our retirement accounts so pre tax savings might no...
by bg5
Wed Jul 29, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 71
Views: 5771

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

Assuming I am going to pay it off early prior to retirement should I just pay off the principal each month or should I wait until I get closer to retirement and use my 457b and pay off the majority in one lump sum?
by bg5
Wed Jul 29, 2020 8:24 am
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 71
Views: 5771

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

I am allowed to collect both a pension and SS as I teach in MIchigan
by bg5
Wed Jul 29, 2020 7:56 am
Forum: Personal Finance (Not Investing)
Topic: I agree that Investing is better than paying off mortage but.....
Replies: 71
Views: 5771

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

Ladies and Gents, I agree from a math perspective its makes sense to continue to invest money in the market vs paying off my 30 year 3.0% mortgage but I need help as to when I should fully pay off my mortgage and where this money would come from. A few things to understand about our situation... 1. ...
by bg5
Sun May 24, 2020 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Boat to people out of State
Replies: 18
Views: 1232

Re: Selling Boat to people out of State

Good Point and I totally planned on telling the buyer up front prior to him coming to Michigan. I use a local credit union so how would he be able to get a cashiers check from them if he was out of state?
by bg5
Sun May 24, 2020 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Boat to people out of State
Replies: 18
Views: 1232

Re: Selling Boat to people out of State

Wow....alot of great responses here and I appreciate all the feedback but I will agree with the last poster here. I am going to forget about a cashiers check and demand a wire transfer. I will not sign over title until the funds are in my account and guarenteed. It sounds like I should talk to my lo...
by bg5
Sun May 24, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Boat to people out of State
Replies: 18
Views: 1232

Re: Selling Boat to people out of State

Potential buyer is coming up with his boat mechanic and wants to see boat.....assuming he likes it then do we just go to bank with his check and I make sure its real....my only fear is signing over the title and then the check does not clear. I am hopeful my bank can guarentee its real
by bg5
Sun May 24, 2020 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Boat to people out of State
Replies: 18
Views: 1232

Re: Selling Boat to people out of State

Will my bank be able to tell me if the check is real or not? If I go to my bank with the check and cash it can they guarentee the funds?
by bg5
Sun May 24, 2020 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Boat to people out of State
Replies: 18
Views: 1232

Selling Boat to people out of State

Long story short I am selling my 2017 Coach 230 RL Tritoon for $38,500 and that is a really good deal so I am getting alot of people contacting from states nearby. I hold the title free and clear but many people want to pay with a cashiers check from their bank. Is there any reason to be concerned a...
by bg5
Sun May 17, 2020 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changing Decision [Mortgage Down Payment]
Replies: 17
Views: 2193

Re: Life Changing Decision [Mortgage Down Payment]

As teacher we can both contribute up to $39,000 in tax deffered accounts. We both have a 403b and 457b. We also both max out our Roth IRA and HSA. My thoughts are starting to be in the area of putting down $190k which would leave us a payment around $900 a month and use the $60,000 for income replac...
by bg5
Sat May 16, 2020 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changing Decision [Mortgage Down Payment]
Replies: 17
Views: 2193

Re: Life Changing Decision

The house we are buying is very nice but dated.....with that being said we have 3 kids who at times can tear things up a bit. So my wife and I want to update a few things eventually but not right now. My thought was I could easily save money when we want to do things like floors...kitchen...etc. We ...
by bg5
Sat May 16, 2020 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changing Decision [Mortgage Down Payment]
Replies: 17
Views: 2193

Life Changing Decision [Mortgage Down Payment]

Guys and Gals....I really could use your advice as we just sold our house and are walking with $191,000 after closing. My Grandma just died and left me about $60,000 so in total we have around 250k liquid cash and my wife and I want to know what to do with it. We just have signed paperwork to buy a ...
by bg5
Sat May 09, 2020 6:40 pm
Forum: Personal Consumer Issues
Topic: Various retirement locations in FLA?
Replies: 8
Views: 1087

Re: Various retirement locations in FLA?

Check out Englewood...just south of Venice and right near Boca Grande and Stump pass....the water is beautiful and the housing prices are very reasonable...get yourself on the water and get a boat...you will not regret it
by bg5
Sat May 09, 2020 6:37 pm
Forum: Investing - Theory, News & General
Topic: Why is lump sum investment option better than DCA?
Replies: 156
Views: 5871

Re: Why is lump sum investment option better than DCA?

Well...I started this thread so I wanted to say thanks to all those that contributed....alot of really good advice on here. I have decided to DCA a $43,000 inheritance every two weeks into my 403b and 457b accounts. I plan to start may 30th and finish 1 year from now.....at the end of the day nobod...
by bg5
Sat May 09, 2020 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: High Income, next financial move?
Replies: 31
Views: 3185

Re: High Income, next financial move?

Sell it and go and find the next chapter of your life....travel....spend time with friends and family....donate some of this money to people who need it. I would love to have a stash of cash that I could go out and give to struggling people.....you are a very successful man and why not take your cre...
by bg5
Sat May 09, 2020 6:22 pm
Forum: Investing - Theory, News & General
Topic: Why is lump sum investment option better than DCA?
Replies: 156
Views: 5871

Re: Why is lump sum investment option better than DCA?

Well...I started this thread so I wanted to say thanks to all those that contributed....alot of really good advice on here. I have decided to DCA a $43,000 inheritance every two weeks into my 403b and 457b accounts. I plan to start may 30th and finish 1 year from now.....at the end of the day nobody...
by bg5
Sat May 09, 2020 6:02 pm
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

I have done a lot of thinking about this and I appreciate all the suggestions on this board as it sure is a nice place to run ideas off people. I plan to do the following.... 1. Take 3 payments of $15,404 each year and I will use that money to replace my income. 2. I will then max out my 403b and 45...
by bg5
Thu May 07, 2020 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Adjusted Gross Income
Replies: 24
Views: 1958

Re: Understanding Adjusted Gross Income

We do contribute to our pensions but its not tax deffered
by bg5
Wed May 06, 2020 1:33 pm
Forum: Investing - Theory, News & General
Topic: Why is lump sum investment option better than DCA?
Replies: 156
Views: 5871

Why is lump sum investment option better than DCA?

I am confused a bit about why people feel lump sum investment is a better option than DCA. Any feedback on this would be helpful. I would just think that the DCA option would be safer so you are not putting all your eggs in one basket and if you invest over time it would appear to me to be more cons...
by bg5
Wed May 06, 2020 11:15 am
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

So the money I am getting is from a non qualified annuity. I had the option to take a lump sum payment just north of $43,000 or take 3 annual payments of $15,404 for the next 3 years. I have decided to take the 3 payments annually and the main reason is for tax purposes. By taking this annual paymen...
by bg5
Wed May 06, 2020 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Adjusted Gross Income
Replies: 24
Views: 1958

Understanding Adjusted Gross Income

Good Morning, My wife and I are trying to make sure we are being tax efficient and we also are not sure if we totally understand adjusted gross income that is calculated on our taxes. When we looked up the federal tax brackets for 2020 we see that we need our adjusted gross income to be under $105,0...
by bg5
Tue May 05, 2020 5:34 pm
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

So do my wife and I just need to be under $168,400 for our AGI to stay in the 22% tax bracket? I looked at my tax records last year and it shows my AGI was $96,000 because we both contribute alot to your retirement accounts.
by bg5
Tue May 05, 2020 5:32 pm
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

I got a letter in the mail today from Transamerica Premier Life Insurance Company which surprised me. It states that I can take the lump sum option of $43,751 or I can take 3 payments annually the next 3 years at $15,404. This is a death benefit How did Transamerica come to know about death and the...
by bg5
Tue May 05, 2020 9:11 am
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

Update ...... I got off the phone with Transamerica and I was given the following information.... 1. I do not have the option to roll this over into a tax deferred account 2. Option 1 - I would get 3 annual payments of $15,404 and of that $3300 is not taxable. These payments would be made September ...
by bg5
Tue May 05, 2020 7:56 am
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Death Benefit -Annuity Inheritance

You are correct that this is a death benefit so will I just pay ordinary income tax on it?
by bg5
Tue May 05, 2020 7:17 am
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Annuity Inheritance

Wow....alot of great replies so thank you. I will call soon and let you guys know what is taxable. I am a teacher so I have the ability to have both a 403B and a 457B and I currently contribute to both. I still have room to max both of them out but not sure that I can afford to contribute much more ...
by bg5
Mon May 04, 2020 9:09 pm
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Re: Annuity Inheritance

Great points...I will call tomorrow and see what is taxable and also see if anything is eligible to roll over.

I will report what I find out
by bg5
Mon May 04, 2020 6:43 pm
Forum: Personal Investments
Topic: Death Benefit -Annuity Inheritance
Replies: 38
Views: 2044

Death Benefit -Annuity Inheritance

Good Evening, My grandma who was 97 years old passed away and she was always very generous with her money to family and I hope someday to be able to give to my family the way she did. I got a letter in the mail today from Transamerica Premier Life Insurance Company which surprised me. It states that...
by bg5
Tue Mar 17, 2020 8:22 pm
Forum: Personal Investments
Topic: Cash in Savings bonds or wait
Replies: 3
Views: 330

Cash in Savings bonds or wait

Hello, I am about to invest 25K into this market. I have always said when the market gets down 40% thats when I will pull the trigger and the plan is to put all of it into VTSAX. I have an additional 5K in savings bonds given to me by my grandma when I was younger. If I cash them in I will get 5k an...
by bg5
Fri Jan 03, 2020 12:13 pm
Forum: Personal Investments
Topic: Wifes ROTH IRA, 403B and Roth 403B
Replies: 4
Views: 242

Wifes ROTH IRA, 403B and Roth 403B

Hi Gang, I want to simplify my wifes and my retirement accounts. Combined we have around $230,000 in retirement and to keep things simple I have all of my 80K in VTSAX (Roth and 403b and 457B) My wife has about 150K in the following accounts 50k = Roth IRA 97K = 403b 3k = roth 403b Most of this is t...
by bg5
Wed Jan 01, 2020 7:39 am
Forum: Personal Investments
Topic: Well.... Its about time for international for me
Replies: 26
Views: 3678

Well.... Its about time for international for me

Happy New Year, I have always been and advocate of being 100% VTSAX as that is currently what my portfolio is set at. But I woke up this morning and thought “why not have a little diversification “? So it looks like I will be adding VGTSX to my Roth IRA. VTIAX is the same thing but cheaper right? I ...
by bg5
Mon Dec 23, 2019 6:29 pm
Forum: Investing - Theory, News & General
Topic: I made a big mistake and I learned my lesson
Replies: 59
Views: 8851

Re: I made a big mistake and I learned my lesson

Well Gents,

I did it.....I tucked my tail between my legs and bought VTSAX today. Sold it at $71.35 and bought it back (probably close to ($80) so I can promise you I learned my lesson.

Sucks because I should have an extra $2000 but I guess sometimes you have to learn the hard way.

Never again :)
by bg5
Sun Dec 22, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: When did you retirement accounts really start to increase?
Replies: 16
Views: 2738

When did you retirement accounts really start to increase?

Happy Holidays! The question I have is at what point did you really start to see a major increase in your retirement accounts. My wife and I combined are sitting on around 250K in retirement accounts and we contribute about 32K annually and are just starting to see some nice gains but it still feels...
by bg5
Sun Dec 22, 2019 7:34 am
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 284
Views: 36997

Re: What is your AA, given your age? and, Why?

I am 39 and wife is 35 and we are 100% equities (everything in VTSAX) and I think we will stay that way most of our lives. We will both have pensions so that is the biggest reason we can be really aggressive. MAybe someday we will go to an 80-20 portfolio but I have always been a gambler so I doubt ...
by bg5
Fri Dec 20, 2019 9:23 am
Forum: Personal Investments
Topic: Teacher Retirement Plan Advice
Replies: 10
Views: 1020

Re: Teacher Retirement Plan Advice

Great Post and my wife and I are also teachers but we live in Michigan. Our pension is somewhat similar to yours as we will get around 42% of our highest 3-years of teaching with COLA but we will also be allowed to collect SS. I am not suggesting that you do this but here is what my wife and I are c...
by bg5
Thu Dec 19, 2019 8:40 am
Forum: Investing - Theory, News & General
Topic: I made a big mistake and I learned my lesson
Replies: 59
Views: 8851

Re: I made a big mistake and I learned my lesson

soooooooooo....should I wait to see if this impeachment process drives stocks down or buy now????????





Just Kidding 8-)
by bg5
Wed Dec 18, 2019 9:57 am
Forum: Investing - Theory, News & General
Topic: I made a big mistake and I learned my lesson
Replies: 59
Views: 8851

Re: I made a big mistake and I learned my lesson

I totally understand the comments for me being to aggressive as my entire retirement is 100% VTSAX. With that being said my situation is very different than most on this site as my wife and I are both teachers in the midwest. We will both get pensions with COLA and if either of us passes the other g...
by bg5
Wed Dec 18, 2019 9:53 am
Forum: Investing - Theory, News & General
Topic: I made a big mistake and I learned my lesson
Replies: 59
Views: 8851

Re: I made a big mistake and I learned my lesson

Thanks for sharing. Curious if you’d share with us how you made your calls; news and pure feel? Curious also how you did in December 2018? Honestly you should be ecstatic this didn’t work out. Imagine if you nailed a huge decline and then timed the re-entry perfectly at the bottom; you’d feel like ...
by bg5
Wed Dec 18, 2019 8:08 am
Forum: Investing - Theory, News & General
Topic: I made a big mistake and I learned my lesson
Replies: 59
Views: 8851

I made a big mistake and I learned my lesson

Hey Gang, I made a big mistake and attempted to time the market with my ROTH IRA. I have about $20,000 and had it invested in VTSAX and was buying and selling the past 2 years with the ups and downs. I now know that this is a big mistake because I sold VTSAX when it was around $70 a share and now it...
by bg5
Tue Dec 17, 2019 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance during retirement
Replies: 28
Views: 2775

Re: Health Insurance during retirement

Yes....this healthcare is covered from my employer (teachers union) and will cost me $360 a month for my family and kids until they reach 26 assuming they are in college that long
by bg5
Tue Dec 17, 2019 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance during retirement
Replies: 28
Views: 2775

Health Insurance during retirement

Talked to a financial adviser today and he said one of the biggest things that people overlook is healthcare. I am just curious what people are paying a month for healthcare during retirement???? I looked at mine and although its not great it would only cost me about $360 a month for the wife and I ...
by bg5
Fri Dec 13, 2019 8:31 am
Forum: Investing - Theory, News & General
Topic: Recommendations of 100% stock lately
Replies: 246
Views: 18457

Re: Recommendations of 100% stock lately

I am 100% equities and have been for sometime. As a matter of fact my entire retirement is in VTSAX so not only am I betting hard on equities but I also prefer to have my cash in the U.S. My situation is different than others as my wife and I are both teachers who will get pensions with COLA so we w...
by bg5
Sun Dec 08, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: How important is it to get your house paid off?
Replies: 12
Views: 1514

Re: How important is it to get your house paid off?

I forgot to mention I am 39 and my wife is 35
by bg5
Sun Dec 08, 2019 8:48 am
Forum: Personal Finance (Not Investing)
Topic: How important is it to get your house paid off?
Replies: 12
Views: 1514

How important is it to get your house paid off?

Im in a pretty good spot as I currently have a home valued at 500k-550K and we are in year 2 of our 15 year loan at 2.87%. We owe $230 on our home and we do enjoy it although we have thought about selling it (It would sell very fast as its on an up and coming lake) and take our 300k and buy a nice n...
by bg5
Tue Nov 26, 2019 10:44 am
Forum: Personal Finance (Not Investing)
Topic: To much tax deffered investments?????? Put more into Mortage????
Replies: 18
Views: 2290

Re: To much tax deffered investments?????? Put more into Mortage????

Edit: couldn't sleep so decided to add some info to this post Ordinarily I recommend maxing out retirement accounts before making taxable investments or paying down a low-interest mortgage. But you have a lot of retirement accounts available - $90,000, or 64% of your gross income. With a pension an...
by bg5
Mon Nov 25, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: To much tax deffered investments?????? Put more into Mortage????
Replies: 18
Views: 2290

Re: To much tax deffered investments?????? Put more into Mortage????

We bought the property for $200,000 and lived there for 10 years. A year ago we put $100,000 into the property as its a lake house and in a solid market sold it making a pretty big profit. I should of been more specific as $300,000 was not all profit but we did do pretty good.
by bg5
Mon Nov 25, 2019 10:18 am
Forum: Personal Finance (Not Investing)
Topic: To much tax deffered investments?????? Put more into Mortage????
Replies: 18
Views: 2290

To much tax deffered investments?????? Put more into Mortage????

Gents, Here is our situation that I need help with. We just sold house and walked with $300,000 and we plan to buy a new home for $370,000 but are not sure what to do????? 1. Do we put $300,000 on a down payment for our home with rates so low or do we invest in tax deffered and Roths for next 3 year...
by bg5
Wed Sep 04, 2019 5:35 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 4216
Views: 296789

Re: Refinance Mega Thread

I just went from a 30 year 4.35 to a 15 year at 2.87%. Cost us around $2500 in closing costs and it was a local credit union in Michigan who is still running the deal. Loved it :) Arbor Financial Credit Union was the lender