Search found 61 matches

by JJP88
Tue Oct 01, 2019 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Necessity of extra insurance if single with no dependents?
Replies: 11
Views: 666

Re: Necessity of extra insurance if single with no dependents?

I echo the above, assuming these are extra "riders". Do make certain you have long-term disability insurance though (with the premium paid for after tax, if possible). LTD is a must have insurance until one is financially independent. + 1 Should I go looking for this type of insurance through an in...
by JJP88
Tue Oct 01, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Necessity of extra insurance if single with no dependents?
Replies: 11
Views: 666

Re: Necessity of extra insurance if single with no dependents?

Yeah all my insurance is paid by my employer. Factory work is not fun, but the benefits are great. I think total compensation package is a $60,000.
by JJP88
Tue Oct 01, 2019 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Necessity of extra insurance if single with no dependents?
Replies: 11
Views: 666

Necessity of extra insurance if single with no dependents?

Open enrollment for my insurance is open until the 18, and I am considering dropping the critical illness insurance and disability insurance. I would instead elect to put that money towards my hsa. Critical Illness: $30,000 policy at $6.14 a paycheck. Accident: $8.20 a pay period. Not sure what the ...
by JJP88
Sun Aug 18, 2019 7:36 pm
Forum: Personal Investments
Topic: Taxable brokerage accounts
Replies: 13
Views: 2135

Re: Taxable brokerage accounts

I would invest it all in VTSAX. Keep your bonds in tax-advantaged accounts. Absent any other information from OP, this is the path that I would suggest. Okay I have always wondered, how do you keep an asset allocation if you stocks and bonds are in different accounts? I only tax advantaged accounts...
by JJP88
Sun Aug 18, 2019 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

If you Google "buyers remorse" you will see lots of info and this is common. Even without the delayed possession you would likely be having a lot of second thoughts now. One other risk is that if this deal falls apart then it could be six months before you can find and buy another house and interes...
by JJP88
Sun Aug 18, 2019 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

Seller pays realtor, generally 3% of sale of home. It might come from their side of the ledger, but the buyer actually pays the realtor. Only one party is bringing money to the table and it isn't the seller. Suppose that is one way of looking at it. They do have to get paid somewhere though. I am c...
by JJP88
Sun Aug 18, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

Your realtor should be protecting your interests. (You don't need to be blaming yourself here.) Are you getting a discount on realtor fees because of the church friend recommendation? Because even WITH a discount, you are paying your realtor a good amount of money to look out for you. (Google "real...
by JJP88
Sat Aug 17, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

You should make them sign a no-cost lease (since they are basically renting it from you albeit at no cost). Ask your realtor. It may not be too late. Your realtor should have a standard rental agreement for situations like this. Also might not be too late to leave the value of one month's rent in e...
by JJP88
Sat Aug 17, 2019 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Re: Close on first home on Wednesday, might not take possession until 30 days... advice please

1. Umbrella policy. 2. Too late, should have had a clause for final walkthrough. 3. Do anything that you thought you might want to do in the near future before you move in. Putting in new floors or carpet, painting, etc are all much easier before you move in. Figured as much, but wondered if I shou...
by JJP88
Sat Aug 17, 2019 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Close on first home on Wednesday, might not take possession until 30 days... advice please
Replies: 48
Views: 3955

Close on first home on Wednesday, might not take possession until 30 days... advice please

First time homebuyer, and I hope I am worrying over nothing but would like some input. So when my agent and I drafted the agreement she recommended and I agreed to give the sellers 30 days to move. The realtor recommended this because I was at the top of what I was comfortable with, and I had lost o...
by JJP88
Mon Aug 12, 2019 7:50 pm
Forum: Personal Investments
Topic: How much to allocate to different retirement “buckets”?
Replies: 4
Views: 803

Re: How much to allocate to different retirement “buckets”?

Projected Expenses: $25,000, so 25k x 30 = $750,000 (original 450k number was a really leanfire scenario) Medical Insurance would be gotten if I can find a more preferable job than the one I have, again this 15-20 years in the future so this will be addressed when I get closer. From Barista job, aga...
by JJP88
Mon Aug 12, 2019 7:32 pm
Forum: Personal Investments
Topic: How much to allocate to different retirement “buckets”?
Replies: 4
Views: 803

How much to allocate to different retirement “buckets”?

I am evaluating where to most effectively place my funds, and would like advice and what would be most advantageous for me. When evaluating, please consider that I think it is a possibility that I could leanfire/barista fire by age 50. I calculate my leanfire/baristafire number to be $750,000. Info:...
by JJP88
Tue Aug 06, 2019 5:03 pm
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 10
Views: 815

Portfolio Request 2: Because My Employer is Adding a Roth 401k Option

Edit: So I posted this just last weekend, but today my company informed everybody that starting the 30th we would have a Roth 401k option. My base salary falls into the 12% category federal (Indiana 3.23%), so it is my thinking I should choose the Roth option, especially given 5he tax cuts might exp...
by JJP88
Sun Aug 04, 2019 2:08 pm
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 10
Views: 815

Re: Portfolio Review Request

Agree with rebuilding your emergency fund and having a fund for home repairs. But you should contribute enough to your 401k (assuming it’s a good plan) to receive the full employer match in 2019. Otherwise you are giving up free money (unless you don’t plan to work there long enough to vest in the ...
by JJP88
Sun Aug 04, 2019 12:37 pm
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 10
Views: 815

Portfolio Review Request

[Post updated, see below. --admin LadyGeek] Emergency Fund: $16,000 ($6,200 HYSA, $7,500 EE Bond matures 2026, $2,000 Silver) Debt: Currently none. Closing on 150k house 8/20, $120,000 loan at 2.875% for 30 years. Status SINK (kids are not something I ever see entering my life plan) Tax Rate Payche...
by JJP88
Sun Aug 04, 2019 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Repairs That Should Happen in 5-10 Years?
Replies: 9
Views: 551

Re: Budgeting for Repairs That Should Happen in 5-10 Years?

I'd just plan to use the emergency fund and replenish with income when you pull from it. Also, if you can find family and friends to help with these jobs you can save a lot of labor costs. If you do the same for them you'll pick up the skills you need to DIY. Don't know if this is helpful but in a ...
by JJP88
Sun Aug 04, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Repairs That Should Happen in 5-10 Years?
Replies: 9
Views: 551

Re: Budgeting for Repairs That Should Happen in 5-10 Years?

If the HVAC system needed to be replaced 1 year after you bought the home, would you be able to handle the costs? If there was a severe storm 1 year from now and the home needed a new roof (let's just say insurance didn't cover the storm or only a percentage due to age), would you be able to handle...
by JJP88
Sun Aug 04, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Repairs That Should Happen in 5-10 Years?
Replies: 9
Views: 551

Re: Budgeting for Repairs That Should Happen in 5-10 Years?

Work all the ot you can and you will come back and thank me. Save it in index fund. Plan on roof and ac replacement it is a known fact this will happen. The furnace probably further down the road. Other things that are smaller but still surprisingly expensive will come up. You will want some improv...
by JJP88
Sun Aug 04, 2019 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Repairs That Should Happen in 5-10 Years?
Replies: 9
Views: 551

Re: Budgeting for Repairs That Should Happen in 5-10 Years?

Sounds like you are doing quite well. You have a healthy emergency fund and the odds of the roof and HVAC system needing replaced at the same time are low, I would try to save/invest the overtime. If you can live on what you listed based on your base income, then OT is excess that can be saved for ...
by JJP88
Sun Aug 04, 2019 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Repairs That Should Happen in 5-10 Years?
Replies: 9
Views: 551

Budgeting for Repairs That Should Happen in 5-10 Years?

In the process of buying my first house, repairs are being done next Friday before re-inspection, and hopefully close by the 20th Got the seller to make almost all the repairs the inspector said were immediate concerns in his report. Honestly think that was what helped me in negotiations, I didn’t a...
by JJP88
Thu Jul 18, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rate Game: When To Lock In Your Rate?
Replies: 6
Views: 673

Re: Mortgage Rate Game: When To Lock In Your Rate?

That's a great rate really. Based on your post it sounds like the house is somewhat well maintained and what you were looking for. Using a cheapie online calculator Its about 15 per month more at 2.875 vs 2.75 for 120000. Cut out 2 McDonals lunches per month. I know at this point it is just getting...
by JJP88
Thu Jul 18, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: 1 million in liquid assets or paid off mortgage by 40?
Replies: 72
Views: 8730

Re: 1 million in liquid assets or paid off mortgage by 40

Soon to close on a mortgage, $112,000 loan at 2.875%, and so have been thinking about this tradeoff. I think it comes down to Investment horizon, and since I am 30 and plan to be working for the next 20-40 years extra money would be better served being put into the market. Now if I had my 30x expens...
by JJP88
Thu Jul 18, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rate Game: When To Lock In Your Rate?
Replies: 6
Views: 673

Re: Mortgage Rate Game: When To Lock In Your Rate?

I'd be thrilled with that rate personally and doubt I would put much extra capital into it either (would use the full 30 year term). If rates really plummet could you not refinance down the road? Timing the bond (or mortgage) market is no different than the stock market; the rate (price) today is w...
by JJP88
Thu Jul 18, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Rate Game: When To Lock In Your Rate?
Replies: 6
Views: 673

Mortgage Rate Game: When To Lock In Your Rate?

Hello Bogleheads: I am in the process of purchasing my first home (a home I could see myself being happy in for 30+ years) and am in the process of locking in my interest rate at the bank where I found a deal that sounded good to me. Before I continue, I am trying to get a unique loan for low income...
by JJP88
Tue Jul 16, 2019 7:55 am
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15589

Re: House not appraising for amount we were offered!

The house resides in a red hot Louisville/Southern Indiana area. The new East End bridge that opened just two years ago drove the current market into its frenzy. Our house is in very close proximity to the many amenities in the area. I think the buyer is in the process of selling his house. Based o...
by JJP88
Thu Jul 11, 2019 9:05 am
Forum: Personal Investments
Topic: Compounding Interest vs. Mortgage
Replies: 11
Views: 1860

Re: Compounding Interest vs. Mortgage

Without more specifics like how much your income is and the dollar amount going into your 401k, this will be more general advice. Biggest fact is you have $19,200 a year to put towards savings/investments, this is on top of 15% 401 k contribution (I assume there is an employer match of some sort). I...
by JJP88
Sun Feb 10, 2019 1:40 pm
Forum: Personal Investments
Topic: 3 fund advice from Schwab
Replies: 7
Views: 1255

Re: 3 fund advice from Schwab

I would generally not put bonds in a taxable account; put those a tax deferred account like a 401k. The reason is that equity index ETFs receive favorable tax treatment in the form of long-term capital gains and qualified dividends, while you'll pay full marginal on total bond fund distributions. Y...
by JJP88
Sat Feb 09, 2019 8:53 pm
Forum: Investing - Theory, News & General
Topic: is rebalancing loosely akin to market timing?
Replies: 60
Views: 3120

Re: is rebalancing loosely akin to market timing?

I always thought that people that were 100% of equities were missing out on rebalancing, even with only 10% in bonds.

Currently I am in a target date index fund in my retirement plans, but have considered going to 3 fund portfolio and rebalancing at 10% shifts.
by JJP88
Sat Feb 09, 2019 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, are my ducks in a row?
Replies: 9
Views: 878

Re: First time home buyer, are my ducks in a row?

I was looking for advice on here before getting preappoved. I know the credit score I get from looking at Chase and Capital One ccs are not completely indicative of true credit score, but last month it was 803. Selling the silver is probably worth the effort, and I will get around to it. I know some...
by JJP88
Sat Feb 09, 2019 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, are my ducks in a row?
Replies: 9
Views: 878

Re: First time home buyer, are my ducks in a row?

You're in great shape to buy at the range you listed. I might recommend to put down only 20% and retain the rest to beef up the emergency fund. Although the silver essentially gives you the same comfort. I was hoping to have more time to save until I needed to make a move, but yep it looks like it ...
by JJP88
Sat Feb 09, 2019 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, are my ducks in a row?
Replies: 9
Views: 878

Re: First time home buyer, are my ducks in a row?

A couple hundres ounces of silver could be worth a few grand. Whats so hard about selling it? What form of silver is it? Eagles, bars, quarters, dimes etc? The silver is in coins that were made from silver nitrate out of old x-rays that no longer needed to be kept. The designs on them vary. I also ...
by JJP88
Sat Feb 09, 2019 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, are my ducks in a row?
Replies: 9
Views: 878

Re: First time home buyer, are my ducks in a row?

“How much are you paying for rent once your brother moves out?” Rent: $875 Trash:23 Water: $90-100 Electric: $110-$180 for 1200 sq ft (it is said our electric company is the worst in the midwest) Insurance: $13 a month “Do you want room for him to be able to move back in with you if he needs to? Wil...
by JJP88
Sat Feb 09, 2019 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, are my ducks in a row?
Replies: 9
Views: 878

First time home buyer, are my ducks in a row?

Status: 30 Male, no kids and Single Occupation: Factory worker for a car company, job seems to be stable in that they are adding/replacing lines, and they have made several additions to the factory in the past year (freestanding health clinic, break room, maintenance room, quality assurance room). H...
by JJP88
Tue Feb 05, 2019 9:44 pm
Forum: Personal Investments
Topic: Valuation seem high. When to buy into 3-fund folio.
Replies: 24
Views: 2610

Re: Valuation seem high. When to buy into 3-fund folio.

Hi, and welcome to the board. As you can see from my number posts I am relatively new to managing my own investments and indexing, and you will probanly wait for a post from somebody who has a couple thousand posts here. However I am going to take an educated guess at their advice for you. Don’t try...
by JJP88
Mon Feb 04, 2019 1:45 pm
Forum: Personal Investments
Topic: Why ally bank
Replies: 93
Views: 13474

Re: Why ally bank

Opened Ally accounts because Personal Finance on Reddit, and have had no qualms since the accounts have been opened in March. -Easy to use App and Website -Easy to open multiple accounts with the ability to name them (Emergency Fund, Car Fund, House Downpayment and Closing) -Security: Only place I h...
by JJP88
Sun Feb 03, 2019 4:12 pm
Forum: Personal Investments
Topic: Seeking Guidance As I Turn 30
Replies: 15
Views: 1439

Re: Seeking Guidance As I Turn 30

1. What is the best way to use my $1700 savings per month? I know this is a perpetual debate on here, but part of me thinks that 4.375% is a high enough interest rate to make paying extra on the mortgage is worth it. Because I file single and our highest year of mortgage interest ever was $12K, I c...
by JJP88
Fri Feb 01, 2019 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone have any experience with a K-1 tax credit?
Replies: 2
Views: 291

Anyone have any experience with a K-1 tax credit?

My grandmother passed away some years ago, and her trust closed out recently. Since my father has too passed away since then, what remains of his portion if her estate was passed onto me and my siblings. She had land that appraised ($26,000 an acre I think) for a high value at one time, but when my ...
by JJP88
Tue Jan 29, 2019 7:43 pm
Forum: Personal Investments
Topic: Should I pay off my mortgage?
Replies: 37
Views: 3050

Re: Should I pay off my mortgage?

Let me start off by saying, I have not read many arguments for the pro and cons on paying off a mortgage or investing in the market. This is topic is also of great interest to me because I am hoping to buy a house within the next 6 months. My current mindset is that the first house I buy will have p...
by JJP88
Tue Jan 29, 2019 7:01 pm
Forum: Personal Investments
Topic: Good reasons for selling an S&P 500 index fund
Replies: 12
Views: 1792

Re: Good reasons for selling an S&P 500 index fund

That does not mean that you are guaranteed to make money if you hold for ten years. However, from 1926-2014, over 80 overlapping 10-year holding periods, the S&P 500 (and predecessor indexes) made money 76 times out of 80, and only lost money 4 times out of 80. From 1926-2014, portfolios of 70% sto...
by JJP88
Sun Jan 27, 2019 12:33 pm
Forum: Personal Investments
Topic: Tracking Investments
Replies: 9
Views: 494

Re: Tracking Investments

I use and recommend Personal Capital. It's free (although they do try and call you a couple times a year and the app keeps telling you to meet your advisor), and it's by far the best I've seen. They have a referral program, so if you know someone who uses it, ask them for their link. Couple of time...
by JJP88
Thu Jan 24, 2019 5:20 am
Forum: Personal Investments
Topic: Depositing Checks at a Schwab Branch?
Replies: 7
Views: 1348

Re: Depositing Checks at a Schwab Branch?

Schwab has mutiple different advisory services, ranging from free ( intelligent portfolio), intelligent advisory (.28%), private client (.8%, Thomas Partners (.9 % first 500k, .8 next 500k, and maybe more. Which one did she sign up for? For now the .75% fee service, at least that was the impression...
by JJP88
Wed Jan 23, 2019 6:26 pm
Forum: Personal Investments
Topic: Depositing Checks at a Schwab Branch?
Replies: 7
Views: 1348

Depositing Checks at a Schwab Branch?

So I have posted here a few times about my mother and looking for a financial advisor for her, well I convinced her to meet with a consultant with Schwab today. Overall from what was relayed to me over the phone, the guy sounds decent enough. Mentioned having a fiduciary responsibility, wanting to s...
by JJP88
Mon Jan 14, 2019 9:02 pm
Forum: Personal Investments
Topic: Please Point me Where to Look For an Advisor for My Mother:
Replies: 14
Views: 1027

Re: Please Point me Where to Look For an Advisor for My Mother:

Going to look into Garret tomorrow after work. Schwab has branch close to her it seems.
by JJP88
Mon Jan 14, 2019 7:05 pm
Forum: Personal Investments
Topic: Please Point me Where to Look For an Advisor for My Mother:
Replies: 14
Views: 1027

Re: Please Point me Where to Look For an Advisor for My Mother:

My god! No wonder that couple she talked to uses Edward Jones, did a Google search around her are for advisors and there were at least over 10 Edward Jones listings :|
by JJP88
Mon Jan 14, 2019 6:43 pm
Forum: Personal Investments
Topic: Please Point me Where to Look For an Advisor for My Mother:
Replies: 14
Views: 1027

Please Point me Where to Look For an Advisor for My Mother:

So in my last post I asked for help with setting my mother’s finances in order. In the end I came to realization the complexity of her account is more than I want to take on, especially since it is not my money. Also I am just taking active steps with my tax deffered accounts, and am intimidated at ...
by JJP88
Mon Jan 14, 2019 8:11 am
Forum: Personal Investments
Topic: How to invest HSA in NJ
Replies: 5
Views: 422

Re: How to invest HSA in NJ

yeahman wrote:
Mon Jan 14, 2019 8:02 am
rigoodma wrote:
Mon Jan 14, 2019 6:58 am
Why such a big push to limit taxes for non medical expenses?
Doesn't matter what it's for. I'll have to pay NJ taxes unless I had it in Treasuries.
Looks like he is trying to use the HSA as a second Roth.
by JJP88
Mon Jan 14, 2019 8:09 am
Forum: Personal Investments
Topic: How to invest HSA in NJ
Replies: 5
Views: 422

Re: How to invest HSA in NJ

I have been considering during my companie’s next open enrollment to contribute either $50 or a $100 a month, and not contributing to the 401k more than the match (am factory worker and only made 46k last year, plus saving for house down payment). Everybody is going to have medical expenses at some ...
by JJP88
Sun Jan 13, 2019 9:22 am
Forum: Personal Investments
Topic: Would your FIRE plan work had your journey started 1965?
Replies: 66
Views: 4683

Re: Would your FIRE plan work had your journey started 1965?

Still very new at this, but hypothetically shouldn’t people have their AAs close to where they can whether the storm if they are retiring inf the next 5-10 years?

Me being 37 years out from retirement (age 30) for one would think an extended bear market would good for me personally.
by JJP88
Sat Jan 12, 2019 8:32 pm
Forum: Personal Investments
Topic: Setting Up A Parent For Retirement
Replies: 18
Views: 1469

Re: Setting Up A Parent For Retirement

She is completely overwhelmed when at the idea of how to handle that money, and she would prefer to talk to advisor. Problem she wants to go with an advisor who is at least recommended to her by someone she knows. So my question is how do I best help my mother set herself up to make sure she this m...
by JJP88
Sat Jan 12, 2019 7:57 pm
Forum: Personal Investments
Topic: Setting Up A Parent For Retirement
Replies: 18
Views: 1469

Re: Setting Up A Parent For Retirement

$750,000 currently held in high yield checking accounts. If this is held in a bank, the interest is piddly, compared to what a money market fund would provide. And if she has more than $250,000 in any one bank, she needs to know that FDIC insurance only covers up to $250,000 per bank. Multiple bran...