Search found 9 matches

by honeymoney
Wed Oct 09, 2019 10:09 am
Forum: Personal Investments
Topic: Investment help- do we sell to pay down a mortage?
Replies: 12
Views: 1292

Re: Investment help- do we sell to pay down a mortage?

As long as we live in the house 2 of the last 5 years we do not have to pay cap gains when we sell. So we can rent for another 2 years without cap gains. We do not pay a prop manager. The current renter is a friend’s brother. So far it has been an easy rental situation but we know that may not alway...
by honeymoney
Tue Oct 08, 2019 9:08 pm
Forum: Personal Investments
Topic: Investment help- do we sell to pay down a mortage?
Replies: 12
Views: 1292

Investment help- do we sell to pay down a mortage?

Wasn't sure if this was personal finance or investment advice. But thought it may apply to both. We recently moved for a job and we were unable to sell our previous home prior to purchasing our new home. Probably a bad decision- but we can't change that now so we have to move forward with better dec...
by honeymoney
Tue Oct 08, 2019 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Refi for Rental/Primary home and Investment advice
Replies: 3
Views: 312

Refi for Rental/Primary home and Investment advice

Hello, With concern of recession ahead we are unsure how to best prepare ourselves for the days ahead. We recently moved for a job and we were unable to sell our previous home prior to purchasing our new home. Probably a bad decision- but we can't change that now so we have to move forward with bett...
by honeymoney
Fri May 18, 2018 5:56 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Re: Paid off our school loans, e fund, and now what?!

My in-laws bought a vacation rental condo at a Colorado ski area in the 80s. They kept it up until my MIL passed away. While they were working and accumulating it was rented out all but two weeks a year, so it managed to pay for itself. Once they retired, they took it off the rental market and used...
by honeymoney
Fri May 18, 2018 5:52 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Re: Paid off our school loans, e fund, and now what?!

To take care of ASAP: 1) Do you have life insurance? I would recommend she has at least 750k, and you 1.25 million in level term insurance outside of your employer. This is important for each other and your babies. yes we currently have 1 on Him, and 850k term outside of work and then his new job o...
by honeymoney
Fri May 18, 2018 5:40 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Re: Paid off our school loans, e fund, and now what?!

2) Why are you saving more for next house when it appears you have $100K equity in current house ? Sell your house and buy a new one-- move the $100K received at closing to fund down payment for the next home. Try for 15 year mortgage. 4) Crank up the savings to max Roth's (backdoor probably) and H...
by honeymoney
Fri May 18, 2018 5:34 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Re: Paid off our school loans, e fund, and now what?!

basspond wrote:
Fri May 18, 2018 9:41 am

Don’t look for ways to spend the student loan payments.
haha daycare is doing a good job of that! ;)
by honeymoney
Fri May 18, 2018 5:31 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Re: Paid off our school loans, e fund, and now what?!

2. I see no mention of Roth IRAs. With your standard deduction, maxing pre-tax 401k/403b and pre-tax HSA, you should be well under the income phase out limits for Roth IRAs. 2 x $5,500 at Vanguard each year is your next step. Use your tax savings from maxing pre-tax items to fund Roths. 3. Yes to R...
by honeymoney
Thu May 17, 2018 4:28 pm
Forum: Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1468

Paid off our school loans, e fund, and now what?!

Just completed paying off all school debt (175k!) 1 year ago and establishing emergency fund. Background: Ages: early/mid 30's. Salary: His 120k Hers 105k Two small children in full time childcare. Currently maxing 401k and 403b and an HSA through spouse work. Current debt: 202k mortgage at 4.5 perc...