Search found 38 matches

by Funancials
Mon Mar 18, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: How to payoff HELOC in most expedient fashion?
Replies: 12
Views: 968

Re: How to payoff HELOC in most expedient fashion?

The fastest way to payoff your HELOC is to take the money from your taxable account and pay it off within a few days when the trades settle. Not sure why you’re making things more complicated than they need to be. I more interested in cash-flowing the payoff of the HELOC than liquidating stocks. On...
by Funancials
Sun Mar 17, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to payoff HELOC in most expedient fashion?
Replies: 12
Views: 968

Re: How to payoff HELOC in most expedient fashion?

The fastest way to payoff your HELOC is to take the money from your taxable account and pay it off within a few days when the trades settle.

Not sure why you’re making things more complicated than they need to be.
by Funancials
Sun Mar 10, 2019 9:36 pm
Forum: Personal Investments
Topic: Spouse wants to buy individual stocks
Replies: 78
Views: 6255

Re: Spouse wants to buy individual stocks

Trading individual stocks is not much different from gambling. As long as you and your husband understand that there’s a 96% chance he’ll underperform 1mo Treasuries, then chalk it up as entertainment and keep it to less than 10% of your portfolio. Read this: https://www.marketwatch.com/story/why-pi...
by Funancials
Thu Jan 17, 2019 9:26 pm
Forum: Personal Consumer Issues
Topic: Paying "cash" for auto - possibly w regular credit card?
Replies: 57
Views: 4897

Re: Paying "cash" for auto - possibly w regular credit card?

We bought a Acura MDX for $33k with credit cards. The trick was swiping in multiple transactions. I think we ended up spreading it across 4-5 cards. It probably earned us $500 (1.5%) and cost them $800-$1k (2.5%). How did the dealership allow this? And how did "multiple transactions" make a differe...
by Funancials
Sat Jan 12, 2019 9:42 am
Forum: Personal Consumer Issues
Topic: Paying "cash" for auto - possibly w regular credit card?
Replies: 57
Views: 4897

Re: Paying "cash" for auto - possibly w regular credit card?

We bought a Acura MDX for $33k with credit cards. The trick was swiping in multiple transactions. I think we ended up spreading it across 4-5 cards.

It probably earned us $500 (1.5%) and cost them $800-$1k (2.5%).
by Funancials
Thu Jan 10, 2019 9:07 pm
Forum: Personal Investments
Topic: 35...am I on the right track? Feeling overwhelmed with options
Replies: 14
Views: 2977

Re: 35...am I on the right track? Feeling overwhelmed with options

Here are a few options. You can weight the pros and cons. 1. Look into Bank of America Preferred Rewards - You unlock decent benefits once you hit $100k with the bank. This is combined between checking, savings, Merrill Edge brokerage and IRAs. (Benefits start at $20k but max out at $100k) - Free tr...
by Funancials
Sat Dec 08, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Single, self employed, 45k in debt, 375k in equity. what’s my move?
Replies: 16
Views: 1631

Re: Single, self employed, 45k in debt, 375k in equity. what’s my move?

Wealthy people collect assets, broke people collect liabilities. My fear is that an unsustainable lifestyle (consistently spending more than you make) will cause you to blow through your sudden windfall quickly...and you’ll only be left with liabilities. I would challenge you to keep the house, bala...
by Funancials
Sun Sep 16, 2018 7:55 pm
Forum: Personal Investments
Topic: Strategy for dealing with company stock awards
Replies: 3
Views: 439

Re: Strategy for dealing with company stock awards

I receive RSUs typically twice a year and have for the last 3 years. A third vests each year and I sell immediately when it does and move that money into VTI for diversification. My company has performed extremely well and I expect it to continue performing well, but I don’t want my primary source o...
by Funancials
Sun Sep 16, 2018 7:46 pm
Forum: Personal Investments
Topic: (No Savings) *Everything* in S&P 500?
Replies: 33
Views: 4265

Re: What if: *Everything* in S&P?

Your friend has done extremely well if he consistently invested his high earnings into SPY between 2006-2018. I have taken a similar approach between 2010-2017, but recently started diversifying. My reasoning over this time period was that if Warren Buffett feels comfortable with this strategy for h...
by Funancials
Tue Aug 21, 2018 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Looking to provide free personal finance advice
Replies: 11
Views: 1622

Re: Looking to provide free personal finance advice

I would either:

1. Start a blog

2. Lead Financial Peace University classes
by Funancials
Fri Aug 03, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Interviewing for manager level position when never had direct reports
Replies: 7
Views: 1006

Re: Interviewing for manager level position when never had direct reports

I have a hard time picturing a new company hiring someone with little to no management experience as a manager. I think your best bet is to “manage up” in your current role so that others begin to see you as a manager. Although there are no open positions, maybe you can volunteer yourself as a mento...
by Funancials
Fri Aug 03, 2018 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 6232

Re: Comfort level with Credit Card Balance

Credit cards are a great tool for spending, but a horrible tool for borrowing. Therefore, I will never put something on a credit card that I cannot payoff immediately.
by Funancials
Fri Aug 03, 2018 7:37 pm
Forum: Investing - Theory, News & General
Topic: How does one become a financial advisor?
Replies: 34
Views: 2620

Re: How does one become a financial advisor?

At the lowest level, how to you get to the point you can legally offer financial advice? does it require a degree? Could you get a brokers license and open your own shop? Lets just say you want to do it part time and help your family and friends (i know.. i know..) At the highest level, could you b...
by Funancials
Fri Aug 03, 2018 7:17 pm
Forum: Investing - Theory, News & General
Topic: HELOC
Replies: 20
Views: 1649

Re: HELOC

Anyone open home equity line of credit? The reason: 1) you only use it when needed 2) unlike credit card, the interest is relative low 3) you have a cushion during economical crisis, pay it off as you want 4) you can use it to grab stressed property at deep discount (time the market) 5) .... I have...
by Funancials
Fri Jul 27, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC buying new home before selling current home
Replies: 11
Views: 1210

Re: HELOC buying new home before selling current home

I echo this question. Applying for a HELOC can be easier than a typical mortgage, but the underwriting guidelines are pretty similar. The general rules of thumb are 28% debt to income (housing expense/income) and 36% debt to income (total debt payments/income). If your income checks out, you can pr...
by Funancials
Fri Jul 27, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Career advice
Replies: 20
Views: 1884

Re: Career advice

I would stay in sales, but potentially change companies. I have come to learn that everyone is in sales, so it’s best to embrace it and ensure you’re compensated for it. Find a product/industry that you’re passionate about and the skies the limit. If it’s a numbers game currently and you’re cold cal...
by Funancials
Fri Jul 27, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: HELOC buying new home before selling current home
Replies: 11
Views: 1210

Re: HELOC buying new home before selling current home

If you don’t think you can get approved for a mortgage, do you think you’d get approved for a HELOC? My house is fully paid for. I understand that. I was assuming that you don’t already have a HELOC on your house. Is that right? If so, my point is that if you don’t think you can get approved for a ...
by Funancials
Fri Jul 27, 2018 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Personal Loans
Replies: 4
Views: 728

Re: Personal Loans

Lightstream, Marcus, SoFi, Prosper, etc. You might also find the best rate at a local credit union, so check them all. Ditto to these. Lightstream (part of Suntrust) and Marcus (Goldman Sachs) have a price advantage as they are balance sheet lenders whereas many of the others (Lending Club, Prosper...
by Funancials
Wed Jul 25, 2018 8:41 pm
Forum: Investing - Theory, News & General
Topic: Best source for simple market news?
Replies: 26
Views: 2395

Re: Best source for simple market news?

I’m basically looking for any sources that can consistently answer the question of Why is the market doing so good/bad today. I’m very busy but always glance at my stocks app and when I see decent size changes (like today) I’m always curious, is it earning reporting day? Did Trump day something? Wh...
by Funancials
Wed Jul 25, 2018 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Any brick and mortar banks/CUs paying close to online rates?
Replies: 11
Views: 1390

Re: Any brick and mortar banks/CUs paying close to online rates?

You can enter your zip code at the link below and DepositAccounts will show you a map along with what every brick and mortar bank or CU is paying: https://www.depositaccounts.com/banks/rates-map/ Several brick and mortar banks are creating separate brands now to raise deposits nationally (i.e. Citiz...
by Funancials
Wed Jul 25, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Online savings accounts for BUSINESS? (not personal)
Replies: 12
Views: 797

Re: Online savings accounts for BUSINESS? (not personal)

Live Oak and BofI Federal consistently offer the highest rates (~1.05% now), but Capital One just introduced a 12mo teaser rate of 1.75% (think it drops to .4% after, so not the greatest long-term option).
by Funancials
Wed Jul 25, 2018 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Buying house with cash
Replies: 12
Views: 1469

Re: Buying house with cash

My wife and I (age 32) just paid cash for our forever home and have no regrets. Take whatever your mortgage payment would’ve been and invest that monthly.

You could also have the trust buy the house.
by Funancials
Mon Jul 23, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Shopping
Replies: 5
Views: 2437

Re: Mortgage Shopping

Your approach is spot on and should yield good results. I usually recommend comparing: - your primary bank or CU - quicken loans (rocket mortgage) or loan depot (the two largest non-bank lenders - Sebonic (part of Cardinal), Amerisave or ConsumerDirect (all low cost leaders) If you want it online, g...
by Funancials
Tue May 29, 2018 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyers- Mortgage Questions
Replies: 29
Views: 2971

Re: First Time Home Buyers- Mortgage Questions

Most of your questions have been answered above, so I’ll only add a few recommended lenders: If you’re looking for the lowest rate, check out Cardinal Financial (mentioned above), Amerisave or Consumer Direct. Those 3 have the thinnest margins in the industry. If you want convenience, check your pri...
by Funancials
Sun May 13, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 502
Views: 131457

Re: Bank of America Preferred Rewards

Having said that, I’ve crunched the numbers and I would be better off (if I favored optimization over convenience) by spreading out my accounts. For example, investing directly with Vanguard, using a Chase CC and opening an online savings with Synchrony, GS or Ally. But, having everything in one pl...
by Funancials
Sat May 12, 2018 8:37 am
Forum: Personal Investments
Topic: Investment advice; saving for a new home with extra cash
Replies: 7
Views: 752

Re: Investment advice; saving for a new home with extra cash

I would personally play it very conservatively and stick to short term CDs or a high yield savings account. For example, Synchrony is offering 2.35% on a 14 month CD or 1.65% on a savings account (which I expect to increase and consistently stay near the top amongst online banks). Given your situati...
by Funancials
Sat May 12, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 502
Views: 131457

Re: Bank of America Preferred Rewards

I am thinking about moving some money around. My main banking happens with Bank of America, but if I decide to move the money around I will lose the preferred Rewards membership. Preferred Rewards Membership comes with the extra cash back for my cash rewards credit card and some other benefits: htt...
by Funancials
Fri Mar 30, 2018 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage with Windfall?
Replies: 57
Views: 7812

Re: Pay Off Mortgage with Windfall?

Reverse the scenario: If you had a paid off house, would you pull all of the equity out in order to invest it? Hell no. Pay it off immediately. Agree, but I probably would take out a Home Equity Line of Credit, while I still qualify for it, just in case I need to access the equity for some unexpect...
by Funancials
Thu Mar 29, 2018 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Debt Hole Repayment
Replies: 38
Views: 4666

Re: Debt Hole Repayment

Getting a personal loan nowadays is insanely easy as most companies underwriting is completely automated and the loans can be closed online with money in your account within a few days. If you go that route, I would use LendingTree since they can instantly match you to 5 lenders and you can choose t...
by Funancials
Thu Mar 29, 2018 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: To sell or keep? [a rental house]
Replies: 12
Views: 1565

Re: To sell or keep? [a rental house]

If $180k was sitting on your table, would your first thought be to put it towards a down payment on a rental house 4 hours away and take out a $160k Mortgage?

No chance.

Sell it.
by Funancials
Thu Mar 29, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage with Windfall?
Replies: 57
Views: 7812

Re: Pay Off Mortgage with Windfall?

Reverse the scenario:

If you had a paid off house, would you pull all of the equity out in order to invest it?

Hell no.

Pay it off immediately.
by Funancials
Thu Mar 29, 2018 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Am I being stubborn about housing purchase
Replies: 27
Views: 4106

Re: Am I being stubborn about housing purchase

Don’t take advice from anyone who makes blanket statements like “renting is throwing away money.”
by Funancials
Thu Mar 29, 2018 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: When to sell my current home
Replies: 17
Views: 1358

Re: When to sell my current home

If it’s me, I would stay in the house until I planned to move. The thought of moving twice in 3 years sounds annoying.

Just as you wouldn’t time the stock market, I wouldn’t try to time the housing market either. More than likely, your house will continue to appreciate for the next few years.
by Funancials
Thu Mar 29, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Living Expense Caught Up To Income
Replies: 48
Views: 7925

Re: Living Expense Caught Up To Income

You’re 26 with a good job, good income and the awareness to find Bogleheads so I’m confident in your ability to do the right thing. Empty the taxable brokerage. Bring your cash to closing. Payoff the $11k for the hair transplant within a few months. Don’t flirt with the zero percent and wait until t...
by Funancials
Fri Mar 09, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Investment Dashboard Software to Consolidate Accts
Replies: 10
Views: 1512

Re: Investment Dashboard Software to Consolidate Accts

I haven’t seen anything that touches Personal Capital when it comes to aggregating accounts. They’ll sync your checking, savings, mortgage, 401k, credit cards, etc. and analyze your cash flow, asset allocation, investment fees and more...all for free.
by Funancials
Thu Mar 08, 2018 5:16 pm
Forum: Personal Investments
Topic: High Yield savings accounts recommendations
Replies: 14
Views: 2203

Re: High Yield savings accounts recommendations

I use DepositAccounts.com to find the best deals/highest rates. Most comprehensive lists for all accounts across every bank and credit union. I use Ally for my savings. Their savings isn’t the absolute highest rate (1.45% now), but they’ll often offer limited-time deals on their 11-mo no penalty CD ...
by Funancials
Sat Feb 17, 2018 3:39 pm
Forum: Personal Investments
Topic: Investing vs paying off debt
Replies: 28
Views: 2421

Re: Investing vs paying off debt

I would challenge you to think about what will be psychologically optimal rather than mathematically optimal. I have found that focusing on one thing at a time and creating positive momentum through quick wins trumps the math in these scenarios. With that said, I would payoff the student loan, impro...
by Funancials
Sat Feb 17, 2018 2:15 pm
Forum: Personal Investments
Topic: Really need an advice: sell the house or rent it out
Replies: 40
Views: 3075

Re: Really need an advice: sell the house or rent it out

If you were already living in the new city and wanted to own a rental property, would you choose to buy a rental in DC? Probably not.

Being an accidental, long-distance landlord is difficult. Don’t make your life harder than it needs to be.

Sell the house.