Search found 34 matches

by TexMexIndex
Tue Jul 16, 2019 6:42 am
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 102
Views: 6335

Re: College cost prediction and savings for 5, 3, and newborn

I just threw 5K into 529 plans for each kid when they were born and will check back when they hit their teen years. I have a 5, 7, and 9. My focus now is Retirement. By then I can focus on them and see what additional input is needed. I check about a year and a half ago and my 9 year old had around ...
by TexMexIndex
Wed Jun 05, 2019 4:08 am
Forum: Personal Investments
Topic: What to do with extra cash each month?
Replies: 28
Views: 2590

Re: What to do with extra cash each month?

My priority:
1. Max out 401K
2. Max out IRA


After that I would throw money at the mortgage or throw it in taxable index to grow wealth long term.

Make sure you are traveling some, helping some, and enjoying life too.
by TexMexIndex
Wed Jun 05, 2019 3:49 am
Forum: Personal Investments
Topic: Fidelity Donor Advised Strategy Feedback Request
Replies: 4
Views: 387

Fidelity Donor Advised Strategy Feedback Request

I have wanted to open up a Donor Advised Fund and thanks to a 5k gift from a generous family member, now is the time. My plan is put additional $ in per paycheck (tithing) and donate that annually. So in the next twelve months I will add 6K to the 5K I initially put in. 1. Investment Strategy Lookin...
by TexMexIndex
Fri May 17, 2019 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Churning Credit Cards
Replies: 84
Views: 8816

Churning Credit Cards

For those who spend time chasing new credit cards for rewards, do you find it worth the time for you? Where would one start looking on how to analyze and go about doing this?
by TexMexIndex
Wed Sep 05, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Opening a new Checking Account/ Bank of the Internet
Replies: 2
Views: 540

Opening a new Checking Account/ Bank of the Internet

My wife is starting as a contractor and I want to open a separate checking account to help with allocating money to SS/Medicare, Retirement, etc. I want it all in one place and don't want to get it confused with bills and such. Looking online it says Bank of the Internet has the highest interest rat...
by TexMexIndex
Wed Aug 22, 2018 1:13 am
Forum: Personal Investments
Topic: Where should I park money I wont need for 3.5 years?
Replies: 11
Views: 1824

Where should I park money I wont need for 3.5 years?

I was keeping it in a stock/bond mix but tapped out, I don't want that risk for a time horizon. Money will go towards a down payment for a house.
Right now its in in a Vanguard Prime Money Market fund. Should I do CD laddering? Around 75K.
by TexMexIndex
Fri Aug 17, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: My Wife is going to do an independent contracting job-401k?
Replies: 10
Views: 834

Re: My Wife is going to do an independent contracting job-401k?

niceguy7376 wrote:
Fri Aug 17, 2018 11:30 am
Is this your spouse only job or does she have another job as employee and this is a self employed job?
Likely her only job in 18 and 19.
by TexMexIndex
Fri Aug 17, 2018 11:07 am
Forum: Personal Finance (Not Investing)
Topic: My Wife is going to do an independent contracting job-401k?
Replies: 10
Views: 834

My Wife is going to do an independent contracting job-401k?

So have read a little about a solo 401k but need to read more. Does vanguard have one? She would likely make 33k Sep-Dec 18 and 33k Jan-Mar19. Is the limit 18.5 K a year or is it more? Can she company match herself somehow? Need some education on thus subject. I was reading about increased Social Se...
by TexMexIndex
Fri Jul 27, 2018 2:36 am
Forum: Personal Finance (Not Investing)
Topic: Starting from scratch
Replies: 17
Views: 2117

Re: Starting from scratch

Disability and life insurance and new salary rate is a good idea. I cant remember is it ten times salary for life? My work pays for disability and I did life insurance for 8 times my then salary about 8 years ago. I haven't changed it upwards as my salary increased and my net worth has increased. Th...
by TexMexIndex
Fri Jul 27, 2018 2:29 am
Forum: Personal Finance (Not Investing)
Topic: Starting from scratch
Replies: 17
Views: 2117

Re: Starting from scratch

Roll over all of your pasts IRAs and past 401Ks into a vanguard account in one place and into a target retirement fund. Vanguard will have lower fees. Its a bit of a pain with paperwork, but sometimes those past financial products are sold or go into receivership where they don't make much money due...
by TexMexIndex
Wed Jul 25, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Buying house with cash
Replies: 12
Views: 1478

Re: Buying house with cash

Check if built on a Native American burial ground. Trust me on this.
by TexMexIndex
Thu Jul 12, 2018 2:50 am
Forum: Personal Finance (Not Investing)
Topic: Career Advice: Preparing for military retirement
Replies: 10
Views: 1615

Re: Career Advice: Preparing for military retirement

What do you hope to get from the MBA? A network and job offer from contacts in that system? Military folks are trained to lead and manage, sounds like the hard part would just be finding a place in the civilian world that lets you do that at a higher level as your subject matter expertise isn't as t...
by TexMexIndex
Tue Jul 10, 2018 3:49 am
Forum: Personal Investments
Topic: Where do you keep your Emergency Fund?
Replies: 81
Views: 13915

Where do you keep your Emergency Fund?

Is there a better place to store it than in a Vanguard Money Market Fund? I just want to park it, don't want to have to move it multiple times. Also I get the idea that its important to have one but often struggle with locking up that large amount of money in such a low return. I have a 3 month fund...
by TexMexIndex
Fri Jun 22, 2018 3:30 am
Forum: Personal Investments
Topic: Is a Donor Advised Fund worth it? (Strategy)
Replies: 30
Views: 2987

Re: Is a Donor Advised Fund worth it? (Strategy)

Yes - the DAF added fees DO have a drag. However, depending on the mx and nature of holding yourself - there will be some increased taxes. Another benefit to holdings in a DAF is "asset protection", since the funds are not yours any more - they cannot be taken by judgments, creditors, ex-spouses, j...
by TexMexIndex
Fri Jun 22, 2018 2:10 am
Forum: Personal Investments
Topic: Is a Donor Advised Fund worth it? (Strategy)
Replies: 30
Views: 2987

Re: Is a Donor Advised Fund worth it? (Strategy)

I give 11% net income annually to my Church annually and another 1% to other charities or needs, but only about half of that is tax deductible. In the past I've donated mutual funds ahead of time in about 1-2 year blocks. The itemizing kicking up to 24K changes thing. I think I may be less likely it...
by TexMexIndex
Thu Jun 21, 2018 5:39 am
Forum: Personal Investments
Topic: Is a Donor Advised Fund worth it? (Strategy)
Replies: 30
Views: 2987

Is a Donor Advised Fund worth it? (Strategy)

I have been reading about "Donor Advised Funds" https://www.bogleheads.org/wiki/Donor_advised_fund and am considering opening one up with Fidelity, but am wondering if after fees and taxes it is worth it. Of course if I choose a less tax efficient investment with bonds, or want to get a tax deductio...
by TexMexIndex
Fri Jun 08, 2018 2:22 am
Forum: Personal Investments
Topic: Portfolio Review
Replies: 18
Views: 2463

Re: Portfolio Review

My thoughts:
Max your 401k.
Why not just do target retirement funds?
I do 529s, I like the idea. I put in 5k when each kid turned 1 and now my 7 year old can
pay for 2.5 years of tuition instead of 1 year.
by TexMexIndex
Wed Jun 06, 2018 11:54 am
Forum: Personal Investments
Topic: Beginning investor - guidance requested
Replies: 21
Views: 2209

Re: Beginning investor - guidance requested

trying to think through the .65 annual in your 401K vs Taxable. In a taxable you pay on dividends or capital gains, which you wouldn't in the same way for non taxable. Anyone on here have thoughts? I would assume in a taxable you could get things down to .3 or less annually as far as annual fees go....
by TexMexIndex
Tue Jun 05, 2018 2:38 am
Forum: Personal Investments
Topic: Beginning investor - guidance requested
Replies: 21
Views: 2209

Re: Beginning investor - guidance requested

Max out your retirement before you worry about increasing taxable. 18.5 k in you 401K annually, 5.5-11k(If married) in a IRA (Roth preferably).
by TexMexIndex
Wed May 23, 2018 5:27 am
Forum: Personal Finance (Not Investing)
Topic: Can I max out TSP and do a traditional IRA?
Replies: 9
Views: 1320

Re: Can I max out TSP and do a traditional IRA?

Oh and one detail spouse isn't working currently. Does that change anything?
by TexMexIndex
Wed May 23, 2018 4:46 am
Forum: Personal Finance (Not Investing)
Topic: Can I max out TSP and do a traditional IRA?
Replies: 9
Views: 1320

Can I max out TSP and do a traditional IRA?

I plan on reaching the 18,500 contribution limit for my TSP this year, and am wondering about whether to do a Roth or a Traditional IRA. My salary is 72K taxable. I get tax free cost of living, housing, utilities, but that doesn't come into play tax wise. 1. If I am married filing jointly, can I do ...
by TexMexIndex
Thu May 17, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 3348

Re: Having trouble figuring out expected expenses in retirement

good thoughts on housing and healthcare costs, will do. I'm a man, I'm 40!
https://www.youtube.com/watch?v=c7gb5tThM24

I really am 40.
by TexMexIndex
Thu May 17, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 3348

Re: Having trouble figuring out expected expenses in retirement

My wild guess for a couple at age 55 with 3 teens would have a medical expense at 30% of total annual expense. Obviously it would depend heavily on the health insurance market situation at that time. Yikes that is more than I thought. I think I calculated healthcare at about 15k annual from my plan...
by TexMexIndex
Thu May 17, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 3348

Re: Having trouble figuring out expected expenses in retirement

If you don't already, I would start doing a monthly budget. Once you start doing that for a few months, I think you will see what expenses might be eliminated or reduced (i.e. Retirement Savings, Mortgage, gas) and what might increase (medical, travel, etc...) in retirement. No one can predict your...
by TexMexIndex
Thu May 17, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 3348

Having trouble figuring out expected expenses in retirement

Any good worksheets or sources? Ms situation: It hard because pension kicks in at 62, Social Security at 67. Thinking of retiring late 50s? Projecting what healthcare will cost 55-62, 62-65, 65 onwards is not easy. Figuring out what say 100K in todays dollars in retirement, though I don't know what ...
by TexMexIndex
Tue May 08, 2018 5:07 am
Forum: Personal Investments
Topic: Funds for a down payment on house
Replies: 8
Views: 1336

Re: Funds for a down payment on house

I'm in a similar situation, but willing to take some risk, and in 2016 put my house down payment into a retirement 2020 account.
My thought is even in 2022 if I lost a little, I would be more likely to earn 6% annually after5 years. Money Market would only get me .5-2.0% for
that timeframe.
by TexMexIndex
Tue May 01, 2018 2:50 am
Forum: Personal Investments
Topic: Taxable Investment for the 2020s
Replies: 2
Views: 761

Re: Taxable Investment for the 2020s

Thanks, great articles. I see the wisdom in putting bonds in taxable, but for whatever reason I have trouble thinking of taxable and non taxable being in the same bucket. As I mature in my investments I guess I need to get past that. I think of non taxable as retirement and honestly don't know the l...
by TexMexIndex
Mon Apr 30, 2018 3:45 am
Forum: Personal Investments
Topic: Taxable Investment for the 2020s
Replies: 2
Views: 761

Taxable Investment for the 2020s

Currently I am doing 18.5K to my 401K and 11K to my IRA (me and not working wife). I'm putting an additional 3K annually into a fund for a house down payment, replacement car account that should reach the 90K I want it to by the end of next year. I have a good emergency fund too. From that point onw...
by TexMexIndex
Wed Apr 25, 2018 6:22 am
Forum: Personal Investments
Topic: 26 Year Old Asking For Advice
Replies: 19
Views: 3595

Re: 26 Year Old Asking For Advice

Are you a full annual contributor to your 401K and IRA?
by TexMexIndex
Mon Apr 16, 2018 8:11 am
Forum: Personal Investments
Topic: TSP Allocation
Replies: 14
Views: 2570

Re: TSP Allocation

Why makes things more complex than you need too? You could just throw it in the L 2050 fund and let it ride.
https://www.tsp.gov/InvestmentFunds/Fun ... L2050.html
by TexMexIndex
Thu Mar 29, 2018 10:47 am
Forum: Personal Investments
Topic: Portfolio Review with focus on saving for House vs Retirement?
Replies: 12
Views: 1179

Re: Portfolio Review with focus on saving for House vs Retirement?

All Enjoying the advice it does look like I need to put more into retirement and IRAs for tax purposes. Klangfool 1) Never thought of the savers credit. Does it make more sense to do a Traditional IRA for this to get more of a savers credit? I can get my contribution up to 18.5 for my 401K annually....
by TexMexIndex
Thu Mar 29, 2018 8:36 am
Forum: Personal Investments
Topic: Portfolio Review with focus on saving for House vs Retirement?
Replies: 12
Views: 1179

Re: Portfolio Review with focus on saving for House vs Retirement?

Thanks for the feedback so far including the when to pay down vs when to invest link. Of course cant expect 1 mil in retirement with the current amount, but I could reallocate annual savings up to 24K annually and if/when my partner works, add even more. Also salary will be increasing. Of course a n...
by TexMexIndex
Wed Mar 28, 2018 12:47 pm
Forum: Personal Investments
Topic: Portfolio Review with focus on saving for House vs Retirement?
Replies: 12
Views: 1179

Portfolio Review with focus on saving for House vs Retirement?

Longtime listener, first time caller. Wanted some good advice. I bring in about the equivalent of 130k annually if you count housing and other non-taxable allowances from work. Taxable income is 71 K a year, But in 2022 will change to 95K taxable, no allowances. Wife not working right now but likely...