Search found 250 matches

by sman09
Sat May 25, 2019 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Close to making an offer on a home
Replies: 15
Views: 1323

Close to making an offer on a home

Dear BHs We are first time home buyers with little knowledge of the process. Thanks to the support and guidance we got here, got the confidence to start the process (that we had put off for several years now), visited several homes while keeping the advice we got here in mind, shortlisted a few and ...
by sman09
Wed May 22, 2019 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Home Loan - Checking with multiple lenders
Replies: 8
Views: 379

Re: Home Loan - Checking with multiple lenders

Thank you! That's good to know. I started the process few months ago just with my details to get started and there was a credit pull. Two days later, we called the lender to add my spouse also and there was another pull and both have been reported. As things became busy, i made an application with t...
by sman09
Wed May 22, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Home Loan - Checking with multiple lenders
Replies: 8
Views: 379

Re: Home Loan - Checking with multiple lenders

Appreciate your quick response! Yes, that was my understanding. I noticed that my credit scored had dropped by a few points - normally, i would not care for it. But it brought the score below 770 as seen from Creditkarma. In case 770 and more was a cut off for a favorable rate, i was concerned as to...
by sman09
Wed May 22, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Home Loan - Checking with multiple lenders
Replies: 8
Views: 379

Home Loan - Checking with multiple lenders

I recall reading here that multiple inquiries from lenders for home loan would be considered as one inquiry in credit report.

However, in my credit karma report, i find two inquiries from the same lender made 2 days apart has been reported as separate credit pulls. Why would this be?
by sman09
Mon May 06, 2019 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

Thank you for the inputs and for sharing your experience selling your home. We sold last year in north pierce county. We listed Thur morning and limited viewing. By Friday night we had 6 decent offers. My sense of fairness kicked in. We gave everyone until 10 am Monday morning for best and final. We...
by sman09
Mon May 06, 2019 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

The advice about taking lots of pictures is really important. Take some while looking at all houses. But when you narrow down on a given property, try to go back and take A LOT of pictures. (This assumes you're not in a super-hot seller's market where there isn't time to dilly dally on submitting a...
by sman09
Mon May 06, 2019 1:10 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 397
Views: 97516

Re: If your net worth is over $3 million, how did you do it?

Our recipe: - Both working full time and living below means - Maxing our pretax, after tax 401k into TR index - Maxing our ESPP, selling immediately and buying index - Reducing paycheck after deduction to monthly expenses - Using mint to budget, monitor and reduce expenses - Paying off mortgage pri...
by sman09
Sun May 05, 2019 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

Any other tips/suggestions to consider as we move forward is also greatly appreciated. One thing that is critical is to get a good home inspector so you should be asking people if they have a good one that they would recommend and then find out as much as possible about how good they are. Spend ple...
by sman09
Sun May 05, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

Any other tips/suggestions to consider as we move forward is also greatly appreciated. One thing that is critical is to get a good home inspector so you should be asking people if they have a good one that they would recommend and then find out as much as possible about how good they are. Spend ple...
by sman09
Sun May 05, 2019 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

1). I’m currently doing a refi via Better.com. No origination fee, and I couldn’t find anybody that could beat their rate. Thank you AerialWombat! Good to hear about the no origination fee on the loan. Perhaps i will go with my bank as it is for pre-qual and consider Better.com when it comes time f...
by sman09
Sun May 05, 2019 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

Thanks a lot Bogle_Bro for your help - Great to know that you are a loan officer! Sometimes agents will say you dont want to "show your hand" by showing you could pay more. the flip side of that is that you also dont want to look like you barely qualify either. Id recommend just getting a single let...
by sman09
Sun May 05, 2019 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

Remember many agents want to just get you to buy at the highest price where their commission will go up (again my experience). Always do your own due diligence on a fair price for a home, don’t depend on the agent to tell you what to offer. That's something i always thought was possible although fr...
by sman09
Sun May 05, 2019 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

A general point, you say nothing about income and other debt so I am assuming you only want answers to your specific questions. 1. The banks will say your qualified for a lot more than you want or need. It is no big deal one way or the other as long as you are disciplined and stay within what you c...
by sman09
Sun May 05, 2019 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

Re: First Home Purchase - request for guidance

In my experience, the online lenders have much lower rates (1% better) than local brick and mortar. Many even offer no closing costs. I would definitely check out a few online lenders. I've used Provident Lending in the past but there may be better options now. I would try to find one that offers a...
by sman09
Sun May 05, 2019 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: First Home Purchase - request for guidance
Replies: 19
Views: 1311

First Home Purchase - request for guidance

We are in the process of applying for a pre-approval for home mortgage and need some guidance. We are in our mid-30s and this is our first home purchase. We have about $150,000 in savings in bank and about $180,000 in investments (mostly in 401k). We are on a fairly modest income and that's one of t...
by sman09
Wed Mar 27, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

Got the tax documents from the AI startup and per their report had a short term gain of $96 ($95.99) and Wash Sale loss (disallowed) of $8.15 Taking only the gains from these 3 companies it appears the total short term gain was about $450. Per the advice received here, i intend to declare this amoun...
by sman09
Tue Mar 26, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

Just to clarify, i would add the claimed losses also as income to the short term gains in that list and include it in my returns right? No, you would just say the losses are $0. Form 8949 is where you enter the information. You will see that you enter proceeds and cost, then adjustments. For the lo...
by sman09
Tue Mar 26, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

With numerous gains and losses under 5 cents I kinda have to laugh because this looks like the very definition of "churning." That is, if you had to pay commissions, then you would probably have your account go to zero. Further to this, Betterment is definitely Worserment in that they don't seem to...
by sman09
Tue Mar 26, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

If you add up all the losses, it looks to be less than $200. If you were to declare all those wash sales, it would add $200 to your income. How much tax would you owe on that and is it worth it to not have to figure out which were the true washes? If you want to figure it out, you just need to look...
by sman09
Mon Mar 25, 2019 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

<<First of all, were there any losses in the transactions? If so, that targets where you need to worry about wash sales. Thanks for the pointer Earl Lemongrab. Here is some information in case you are able to offer any further advice. At wealthfront there seems to have been 10 transactions and these...
by sman09
Mon Mar 25, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

Considering what an accountant would likely charge to go through a bunch of statements, I'd try to figure it out yourself first. Thanks a lot Earl Lemongrab and rkhusky for the additional inputs. <<Your tax consultant needs the list of purchases and sales in all the accounts. How many transactions ...
by sman09
Mon Mar 25, 2019 8:27 am
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

Re: TLH, Wash sale and Tax filing - Guidance requested

Thanks a lot @livesoft and @rkhusky. The information at the link that @livesoft shared looks very useful - have bookmarked it for reading. @rkhusky: thanks for suggesting the various options and for pointing me to the article. I closed the account last year itself - all the accounts were simultaneou...
by sman09
Sun Mar 24, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: TLH, Wash sale and Tax filing - Guidance requested
Replies: 15
Views: 718

TLH, Wash sale and Tax filing - Guidance requested

Some background information: With little knowledge of investing and thinking we were saving money from being lost in a market downturn, did not contribute towards 401k in 2017 and ended up writing a sizeable check during tax filing season in 2018. This triggered reading up about investing, talking t...
by sman09
Thu Jan 03, 2019 11:48 pm
Forum: Personal Consumer Issues
Topic: Prepaid cell phones
Replies: 18
Views: 1413

Re: Prepaid cell phones

Thanks a lot everyone for the inputs!
by sman09
Thu Jan 03, 2019 1:15 pm
Forum: Personal Consumer Issues
Topic: Prepaid cell phones
Replies: 18
Views: 1413

Re: Prepaid cell phones

one of the things i had in mind is to eventually cut down on the monthly cell phone bill expenses (just realized we are paying $900+ every year and make very few phone calls that need cellular network - most of them are using apps - skype, whatsapp and such and able to justify spending so much give...
by sman09
Thu Jan 03, 2019 1:13 pm
Forum: Personal Consumer Issues
Topic: Prepaid cell phones
Replies: 18
Views: 1413

Re: Prepaid cell phones

one of the things i had in mind is to eventually cut down on the monthly cell phone bill expenses (just realized we are paying $900+ every year and make very few phone calls that need cellular network - most of them are using apps - skype, whatsapp and such and able to justify spending so much given...
by sman09
Thu Jan 03, 2019 12:45 pm
Forum: Personal Consumer Issues
Topic: Prepaid cell phones
Replies: 18
Views: 1413

Re: Prepaid cell phones

Thank you very much @katietsu! That's a very good suggestion. I will keep that in mind. :sharebeer
by sman09
Wed Jan 02, 2019 11:28 pm
Forum: Personal Consumer Issues
Topic: Prepaid cell phones
Replies: 18
Views: 1413

Prepaid cell phones

Dear BH I want to check whether this is feasible: I'd like to continue using my current device (non-iphone) for talk and would like to get access to an iphone via one of the prepaid cellular services to make use of the apps. I see that Straight Talk offers a iphone 6s for about $300: https://www.wal...
by sman09
Wed Jan 02, 2019 11:18 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Thank you @hotrodz, @watty, @pointyhairedboss for the excellent inputs! Really appreciate it.
by sman09
Tue Dec 25, 2018 10:23 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Scrapr wrote:
Tue Dec 25, 2018 2:52 pm
One thing you can use your agent for is as a buffer. Many times the buyer will go alone and divulge info that is best kept to yourself. Too much eagerness. It's a game of poker. Let the agent be the bad guy.
Very good point! thank you @Scrapr!
by sman09
Tue Dec 25, 2018 2:41 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Thank you @squirm. What you stated in terms of how you went about is what we had in mind, but were not sure whether that is common. Good to know that you did do it including meeting with the owner. <<Then anything that passes that, you'll have to get the agent involved to let you inside. so, it's be...
by sman09
Tue Dec 25, 2018 1:49 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

You always want to do sone work yourself IMO. Hopefully, you and your agent are coming up with similar or the same properties you want. What you want to bring up with the agent is if you find a place they may not come up with, you can ask, what about this one? Hopefully they will have a little more...
by sman09
Tue Dec 25, 2018 1:11 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

If one has been meticulously searching online for properties available for sale and driving through areas (locations) one likes to learn about properties for sale and such, is not the role of the buy-side agent reduced to handling the negotiation/paper-work alone? Or are we losing out on what the ag...
by sman09
Tue Dec 25, 2018 12:56 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

I would advise the OP to do some reading at this point. For example, you should be speaking with your bank vs applying online for a pre-approval then wondering IF adding your spouse creates another credit pull. Also, you may be required to be pre-approved to make an offer, and you do not want to su...
by sman09
Tue Dec 25, 2018 12:50 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Thanks a lot everyone (@HEDGEFUNDIE, @kolea, @sbrooks32, @RickBoglehead, @Nissanzx1, @Lynette, @Sandtrap) for your additional inputs following my last query! It's very kind of you to take some time and help even on Christmas day!! Thanks much!
by sman09
Mon Dec 24, 2018 5:30 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

You need to be comparing apples to apples. Can you get requotes with no points? I'm not exactly sure what you mean by requotes - are you referring to my points about getting the loan approval continue when adding my spouse subsequently? I am yet to talk to the bank agent - just filled the form onli...
by sman09
Mon Dec 24, 2018 4:51 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Following up on the advice received here, i just applied for a bank loan (pre-approval) via my bank online. After getting various details and checking my credit score, the system shows various terms and options 30 yr fixed @ 4.5% (APR 4.559%) Points - 0.358, closing cost - $ 11,700 15 yr fixed @ 4.1...
by sman09
Mon Dec 24, 2018 3:53 pm
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Re: Buying house - Advice requested

Thank you so much @Ben Mathew @mouses @GmanJeff @katrid11 @MarkerFM @dbr @mortfree @SimonJester @runner540 @F150HD @squirm @health teacher for your time and inputs to guide us with the process. Very helpful and feeling more informed than what we were as of last evening. I re-read all the replies to ...
by sman09
Mon Dec 24, 2018 12:08 am
Forum: Personal Consumer Issues
Topic: Buying house - Advice requested
Replies: 39
Views: 4061

Buying house - Advice requested

Dear BH We are totally new to the topic of buying properties and have just begun to think about it after calculating the money we have already spent paying rent over the last decade. Could you please help with a list of points we need to be aware of, attend to as we go about buying our first house -...
by sman09
Wed Oct 10, 2018 10:05 pm
Forum: Personal Investments
Topic: What did you buy today
Replies: 119
Views: 9305

Re: What did you buy today

Why does a 3% drop constitute an opportunity? Ten percent, I get it, but a 3% drop? What is your definition of "opportunity"? 10% drop ... cannot rule out the chance of one such drop. However, it appears the largest single day correction to date has been 7.87%. Source: https://en.wikipedia.org/wiki...
by sman09
Sun Oct 07, 2018 3:22 pm
Forum: Personal Investments
Topic: My biggest mistake - market timing
Replies: 62
Views: 10092

Re: My biggest mistake - market timing

VBMFX is essentially high rated US bonds of all types (short, intermediate, long term - US government and corporate). It avoids high risk/high return bonds (junk bonds). VBMFX is a good fund in my opinion to use for bonds in your investments. You could back test all sorts of scenarios on Portfoliov...
by sman09
Sat Oct 06, 2018 11:07 pm
Forum: Personal Investments
Topic: My biggest mistake - market timing
Replies: 62
Views: 10092

Re: My biggest mistake - market timing

I can't find the Boglehead thread I got this from but I saved the main link. Check this out. It is 3 portfolios over ~30 years. The first is 100% stocks. The second is 80% stocks and 20% bonds. The third is 60% stocks and 40% bonds. Look at the portfolio returns at the bottom. https://www.portfolio...
by sman09
Tue Oct 02, 2018 11:03 pm
Forum: Personal Investments
Topic: My biggest mistake - market timing
Replies: 62
Views: 10092

Re: My biggest mistake - market timing

tampaite wrote:
Tue Oct 02, 2018 10:32 pm

Well, if market had tanked 40% in 2017 or after your withdrawal, wouldn't you be glad?

No one has Crystal ball so you did what's best for you under those circumstance.

Well said - your post offers an excellent perspective for all of us!
by sman09
Sun Sep 09, 2018 11:46 am
Forum: Personal Consumer Issues
Topic: car purchase feedback experience
Replies: 20
Views: 1280

Re: car purchase feedback experience

I love the audacity of the salesperson guilt tripping you in saying he or she will not get their bonus now for ripping you off. Your options 1. Ignore (which I would do) or 2. Tell them to pound sand. Either way I would put this in the rear view fast and if it comes back into your head, remember th...
by sman09
Sun Sep 09, 2018 12:55 am
Forum: Personal Consumer Issues
Topic: car purchase feedback experience
Replies: 20
Views: 1280

Re: car purchase feedback experience

Seems that the salesperson/dealership follow-up just confirmed the negative reaction to their tactics that you expressed in your responses to the survey. I would ignore all further communications from the salesman/dealership. What does the salesperson/dealership expect — that you will recant your c...
by sman09
Sun Sep 09, 2018 12:04 am
Forum: Personal Consumer Issues
Topic: car purchase feedback experience
Replies: 20
Views: 1280

car purchase feedback experience

A few days after buying a car at a dealership got a mail from the manager of the store asking for my feedback. I wanted to share my not so great experience and unethical behavior on the part of the dealership staff. I realized it is going directly to the manager at the dealership which means it coul...
by sman09
Tue Sep 04, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Buying car - help with closing the deal
Replies: 22
Views: 2618

Re: Buying car - help with closing the deal

Avoid a former rental like the plague. Instead look at a 2018 that is still on the lot now that 2019s are. You should be able to get $3,000 below MSRP no problem. Well worth spending a few grand more to avoid inheriting someone else’s issues. People abuse the crap out of rentals. You may not see an...
by sman09
Tue Sep 04, 2018 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying car - help with closing the deal
Replies: 22
Views: 2618

Re: Buying car - help with closing the deal

This is a bit OT, but I am also in the market for a used car roughly the same age, and the price seems a bit steep. I know it's a Toyota and the demand is high, but if a new one can be purchased for ~$4k more, wouldn't it make sense to go for that instead? @DiMAn0684: excellent point. although i di...
by sman09
Tue Sep 04, 2018 7:11 pm
Forum: Personal Consumer Issues
Topic: Buying car online?
Replies: 65
Views: 4146

Re: Buying car online?

I don't go into the car dealership anymore without email haggling. I get multiple quotes and I would start emailing the next lowest one and thanking them for the quote, but someone else provided the lost OTD price. Most instances they comeback saying can you forward the quote to them, once I do, th...
by sman09
Sun Sep 02, 2018 11:15 pm
Forum: Personal Consumer Issues
Topic: Buying car online?
Replies: 65
Views: 4146

Re: Buying car online?

A demo car is just that, the car is still “new” but used as a demonstrator. It may be used for extensive test drives. Or a dealer owners family member can use the car for a few months. Because it isn’t titled during this time, it is still “new” legally when sold, even with lots of miles. Check with...