Search found 2571 matches

by Meg77
Wed Feb 26, 2020 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed - personal loan or credit card balance transfer
Replies: 36
Views: 1511

Re: Advice needed - personal loan or credit card balance transfer

Hey there. Welcome! I just want to clarify that the reason consolidation loans aren't recommended (here or by Dave Ramsey or in general) is that it makes you feel like you *did* something. I tackled my debt! I'm saving interest! But really all you did was just shuffle the debt from point a to point ...
by Meg77
Wed Feb 12, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to consider quitting my job?
Replies: 128
Views: 14070

Re: Am I crazy to consider quitting my job?

If you do quit, I would seriously get a post-nup executed to protect you and reimburse you for the financial sacrifice you are making in case of divorce. And also make sure he has plenty of life insurance with you as the beneficiary. You've already sacrificed your career and prioritized his. And rea...
by Meg77
Wed Feb 12, 2020 4:30 pm
Forum: Personal Investments
Topic: Post Divorce: Questions about financial goals and adding equity exposure
Replies: 10
Views: 1115

Re: Post Divorce: Questions about financial goals and adding equity exposure

I agree with your three main goals, but the order should be tweaked. Number 1 in my book - and if you ask most financial advisors - should be to contribute $12K toward retirement. That is only 10% of income assuming the low end of your income estimate. Other than a layoff or other income disruption,...
by Meg77
Wed Jan 22, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Pay Off Question
Replies: 44
Views: 3350

Re: Mortgage Pay Off Question

A 30 year old who is investing a chunk of their income into stocks each year can reasonably keep a mortgage in hopes of earning higher market returns than the cost of the loan. If stocks tank, they may lose the bet in certain periods, but life goes on and they can just keep plowing more and more int...
by Meg77
Wed Jan 22, 2020 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: What did you do cool with your money today?
Replies: 125
Views: 10283

Re: What did you do cool with your money today?

I'm going on a weekend trip to Mexico with my sister in law next month for her 40th birthday. She's having a really rough year - separating, kid issues, job dissatisfaction. They do fine but are far from financially independent (especially now they are splitting up). So I booked a really nice place ...
by Meg77
Tue Jan 14, 2020 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Newly married, want to ascertain we understand rules re: HSA and IRAs
Replies: 11
Views: 658

Re: Newly married, want to ascertain we understand rules re: HSA and IRAs

Your spouse should be able to contribute the full $6000 to a Traditional or Roth IRA via a the spousal ira contribution rules. If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined con...
by Meg77
Fri Jan 10, 2020 5:19 pm
Forum: Personal Investments
Topic: I don't want to save too much.
Replies: 96
Views: 8265

Re: I don't want to save too much.

You are definitely doing great no matter how you slice it. Age 34, a million invested, a $400K income, and saving a huge chunk of your income after taxes (roughly 50% assuming a 25% effective tax rate, which may be high or low depending on where you live). I would hesitate to give up any earning pot...
by Meg77
Thu Jan 02, 2020 3:42 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 445
Views: 115458

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

Makes sense. That's why you need things like CitiGold and Chase Private Client. So that you can walk into the office of the banker, and do the transaction there. That’s the last thing I want. Some “Private Bsnker” constantly watching me, trying to figure out new ways to sell me his high fee product...
by Meg77
Thu Jan 02, 2020 2:52 pm
Forum: Personal Investments
Topic: Advice on portfolio after windfall at youngish age
Replies: 11
Views: 1305

Re: Advice on portfolio after windfall at youngish age

Thanks for such helpful advice and taking time to respond, I really love this forum. I managed to get a 3.1% loan for 30 years on the 1M. I picked the amount to try to maximize the interest I can deduct (since we're capped at 750k I believe). After deducting interest, the effective rate is somewher...
by Meg77
Fri Dec 20, 2019 11:49 am
Forum: Personal Investments
Topic: Advice on portfolio after windfall at youngish age
Replies: 11
Views: 1305

Re: Advice on portfolio after windfall at youngish age

Why don't you pay off your mortgage? You have $2.5MM in bonds/cash in taxable and a $1MM mortgage if I'm reading this right. No way the mortgage rate you have is substantially lower than the after tax, after fee expected return on those funds. Plus no housing payment gives you a lot more flexibility...
by Meg77
Mon Dec 09, 2019 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: HSA- pregnancy question
Replies: 8
Views: 523

Re: HSA- pregnancy question

Just want to add that my company offers both FSA and HSA (along with an HDHP compliant insurance option), but the HSA option they provide and contribute to directly via payroll is a checking account. So I invest directly into an HSA with OptumBank instead (because my husband already had one there fr...
by Meg77
Fri Dec 06, 2019 5:03 pm
Forum: Personal Investments
Topic: Please help me be smart with my wife's inheritance
Replies: 52
Views: 5076

Re: Please help me be smart with my wife's inheritance

_______________________________________________________________ Questions : 1. Should we move all of my wife's assets currently being managed by her family member to Vanguard and manage investing ourselves from now on? You can, or you can just take more control of how the funds are directed where t...
by Meg77
Fri Dec 06, 2019 4:26 pm
Forum: Personal Investments
Topic: Getting about 200k from parents
Replies: 46
Views: 5095

Re: Getting about 200k from parents

This windfall represents a 60% increase to your investment portfolio, so I would personally not be comfortable lump sum investing it all at once, particularly since your AA is 95% stocks. Ideas: 1. Pay off the car loan. 2. Put 30-100% down on a rental property purchase. 3. With the remainder, dolla...
by Meg77
Fri Dec 06, 2019 2:58 pm
Forum: Personal Investments
Topic: Getting about 200k from parents
Replies: 46
Views: 5095

Re: Getting about 200k from parents

This windfall represents a 60% increase to your investment portfolio, so I would personally not be comfortable lump sum investing it all at once, particularly since your AA is 95% stocks. Ideas: 1. Pay off the car loan. 2. Put 30-100% down on a rental property purchase. 3. With the remainder, dollar...
by Meg77
Thu Dec 05, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Church Loan Question
Replies: 17
Views: 1802

Re: Church Loan Question

I'm a banker, and I've seen a few church loans in my day. I've always worked for smaller banks who don't use swaps or interest rate hedging, but this doesn't seem super unusual to me. You're not going to get much lower than 5% on a church loan regardless. And prepayment penalties on commercial loans...
by Meg77
Thu Dec 05, 2019 12:45 pm
Forum: Personal Consumer Issues
Topic: Paying for vices (like cigarettes)
Replies: 72
Views: 6550

Re: Paying for vices (like cigarettes)

Your credit card transaction data only reveals where you shop - not what you buy. You may have never shopped at a liquor store so the algorithm flagged that - same as if you crossed a state line you'd never been in or made a string of online purchases that looked odd/suspicious. But even liquor stor...
by Meg77
Thu Dec 05, 2019 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Follow Up: Husband's Surprise Debts
Replies: 370
Views: 37642

Re: Follow Up: Husband's Surprise Debts

[In order to best assist the member, replies which bring up non-financial issues will be removed. --admin LadyGeek] I have a question on the HELOC. Although my signature is on the initial paperwork, why is it that US Bank would allow my husband only to withdraw money? Shouldn't they require approva...
by Meg77
Thu Dec 05, 2019 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Does this refinance make sense?
Replies: 20
Views: 1030

Re: Does this refinance make sense?

I wouldn't refinance your primary home. Your rate is super low and fixed, and the closing costs (and hassle) to refinance are prohibitive. Sure a quarter point increase isn't a big deal, but there is no reason to do it! You already have a heloc in place for things like buying a rental or doing a maj...
by Meg77
Wed Dec 04, 2019 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Follow Up: Husband's Surprise Debts
Replies: 370
Views: 37642

Re: Follow Up: Husband's Surprise Debts

[In order to best assist the member, replies which bring up non-financial issues will be removed. --admin LadyGeek] I have a question on the HELOC. Although my signature is on the initial paperwork, why is it that US Bank would allow my husband only to withdraw money? Shouldn't they require approva...
by Meg77
Wed Dec 04, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Follow Up: Husband's Surprise Debts
Replies: 370
Views: 37642

Re: Follow Up: Husband's Surprise Debts

[In order to best assist the member, replies which bring up non-financial issues will be removed. --admin LadyGeek] I have a question on the HELOC. Although my signature is on the initial paperwork, why is it that US Bank would allow my husband only to withdraw money? Shouldn't they require approva...
by Meg77
Wed Dec 04, 2019 9:54 am
Forum: Investing - Theory, News & General
Topic: Maximum deposit insurance for a family of 3
Replies: 1
Views: 131

Re: Maximum deposit insurance for a family of 3

The FDIC has a handy calculator to help you assess this. https://edie.fdic.gov/ But you are correct I believe. POD is considered a different account ownership style, so the way you have it listed all those accounts would be covered up to $250K. And actually I think you can have up to $500K in the jo...
by Meg77
Fri Nov 08, 2019 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Sell equities to pay down mortgage
Replies: 22
Views: 2146

Re: Sell equities to pay down mortgage

My initial goal in all of this was to get to a point where I would be in the same position as if I had put 20% down. Why is this your goal? Seems pretty arbitrary - which is probably why it's hard for you to figure out what to do. Most banks require 20% down to get the best rate, but that's the onl...
by Meg77
Thu Nov 07, 2019 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Excess Cash- What to do with it?
Replies: 14
Views: 1802

Re: Excess Cash- What to do with it?

In truth you could think about consciously spending more to enhance your life/lifestyle today. Vacations are not a bad idea! Make a list of your values and consider how much you are spending each year to express those values. Health - buy organic produce, consult a nutritionist or personal trainer, ...
by Meg77
Thu Nov 07, 2019 11:22 am
Forum: Personal Investments
Topic: Is the effective interest rate of a loan higher when it’s early in amortization period?
Replies: 42
Views: 1883

Re: Is the effective interest rate of a loan higher when it’s early in amortization period?

If I have two loans with the same interest rate starting at exactly the same time, the amortizing loan has more interest dollars up front - so i would be better off paying that loan first.... no? When rates are equal, it is better to pay down the shorter-term loan, but only because this gives you m...
by Meg77
Wed Oct 30, 2019 3:09 pm
Forum: Personal Investments
Topic: Inheritance Assistance - Edward Jones
Replies: 23
Views: 2173

Re: Inheritance Assistance - Edward Jones

Hey there! I actually have been involved in this same process. My mom had an EJ portfolio for a couple of decades and asked me to take it over for her. I have learned a lot (and full disclosure my father worked for EJ for a couple of years over a decade ago, which is why she had it in the first plac...
by Meg77
Tue Oct 29, 2019 5:21 pm
Forum: Personal Consumer Issues
Topic: Women wearing black to a wedding?
Replies: 56
Views: 5088

Re: Women wearing black to a wedding?

I'm from the South and am usually pretty well versed in fashion rules (no white after labor day, et al), but I've never heard that you shouldn't wear black to a wedding. Only that you shouldn't wear white. I've been to about 5 weddings a year for the last decade all across the country, and I've neve...
by Meg77
Tue Oct 29, 2019 4:44 pm
Forum: Personal Investments
Topic: What should a mid 30s Asset Allocation be?
Replies: 45
Views: 2621

Re: What should a mid 30s Asset Allocation be?

I'm in a similar position age and net worth wise but with about half your household income. Our AA is a bit nontraditional: 40% real estate (4 rentals and several RE syndication apartment building deals), 50% stocks (20% of which are international) 7% cash (about 18 months expenses) 3% bonds I'm com...
by Meg77
Tue Oct 29, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: I no longer plan on retiring early
Replies: 110
Views: 16369

Re: I no longer plan on retiring early

I've been thinking about this a lot lately as I learn more about happiness research and how beneficial a sense of purpose, social interaction, growth/learning and routine are for humans. Sure you can get those things outside of work, but it's hard to recreate all that in retirement - especially wit...
by Meg77
Mon Oct 28, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: I no longer plan on retiring early
Replies: 110
Views: 16369

Re: I no longer plan on retiring early

I've been thinking about this a lot lately as I learn more about happiness research and how beneficial a sense of purpose, social interaction, growth/learning and routine are for humans. Sure you can get those things outside of work, but it's hard to recreate all that in retirement - especially with...
by Meg77
Thu Oct 24, 2019 3:03 pm
Forum: Personal Investments
Topic: 29 Year Old with Low Income, HCOL, Large LTCG
Replies: 12
Views: 1694

Re: 29 Year Old with Low Income, HCOL, Large LTCG

I just want to say that "unwind" and "all at once" don't necessarily go together, especially if your goal is to minimize capital gains taxes. I'm in a multi-year process of doing this for my mom's portfolio. She has lots of LTCG but they are in some really expensive and not highly rated mutual funds...
by Meg77
Thu Oct 24, 2019 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do you plan to actually spend down your portfolio?
Replies: 353
Views: 29607

Re: Do you plan to actually spend down your portfolio?

Many retirement calculators or rules usually assume that a retiree will spend down their money at end of the presumed life. Actually this is not true. Most online retirement calculators and Monte Carlo simulations assume some version of the 4% SWR, and adhering to that rule all but ensures you will...
by Meg77
Tue Oct 22, 2019 11:55 am
Forum: Personal Investments
Topic: HSA Fund Minimum Investment
Replies: 3
Views: 299

Re: HSA Fund Minimum Investment

I have an Optum HSA as well, and you are good. There are no minimum fund fees that I'm aware of. Typically 401k and HSA plans don't have any minimum investment requirement in the funds, even if those funds otherwise have stated minimums. In fact I've never seen a minimum investment within those type...
by Meg77
Tue Oct 22, 2019 9:28 am
Forum: Personal Finance (Not Investing)
Topic: What do Bogleheads think about House Hacking?
Replies: 51
Views: 6532

Re: What do Bogleheads think about House Hacking?

House hacking is different from owning a rental property in a couple of ways. It's a "hack" because it's something most people could be doing that don't consider it. But you're right, it's not that complicated. The biggest difference from owning a rental property outright is that It's much more easi...
by Meg77
Mon Oct 21, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: For those who are FI: At what point did you begin to relax?
Replies: 76
Views: 10930

Re: For those who are FI: At what point did you begin to relax?

We are working toward FI and my motivation is mostly fear. I grew up with parents who had money troubles despite a high middle class income, and I don't want to have that anxiety in our life...So far it seems like my anxiety about having enough has been pretty steady. For those of you who have made...
by Meg77
Thu Oct 17, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Another GE Pension Buyout Question
Replies: 4
Views: 758

Re: Another GE Pension Buyout Question

- If I took the lump sum and invested it, it looks like I would need about a 5.9% real rate of return over the next 23 years (assuming an additional 2% annual inflation rate) to have enough money to replace the pension from my investments using the 4% withdrawal rule . This seems like a pretty aggr...
by Meg77
Wed Oct 16, 2019 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: GE Pension - take lumpsum?
Replies: 4
Views: 1014

Re: GE Pension - take lumpsum?

Here are the options I am given: a. Lumpsum: $34,700 b. Annuity starting 12/2019: $152 /month c. Annuity starting at age 60: $682 /month (it provides survivor benefit for spouse. 50% with literally no reduction in per month pension figure OR 75% with some reduction ~5%). ... I am leaning towards op...
by Meg77
Wed Oct 16, 2019 3:59 pm
Forum: Personal Investments
Topic: Cash basically sitting uninvested. What to do?
Replies: 47
Views: 7058

Re: Cash basically sitting uninvested. What to do?

Hi All - So I have a significant chunk of cash sitting relatively idle right now (its in an online savings account earning 1.7%). I know I should invest it but basically have been sitting idle with it for, I'm embarrassed to say, about 2 years. I basically missed the current boom with it, but I'm s...
by Meg77
Mon Oct 14, 2019 4:15 pm
Forum: Personal Investments
Topic: Advise on Large cash investment options in current market - Invest in market OR Pay off Mortgage
Replies: 11
Views: 1344

Re: Advise on Large cash investment options in current market - Invest in market OR Pay off Mortgage

Debt: 1. Home Loan $925K, Interest rate 2.875%, 7 Years ARM, 2.875% Rate will finish in 2023 (rate will increase by 2% after that for the first year) 2. Car Loan $48K Interest rate 0.99%, Will be fully paid in 2023 These are very good rates, close to or perhaps below the inflation rate. Portfolio: ...
by Meg77
Fri Oct 11, 2019 10:07 am
Forum: Personal Finance (Not Investing)
Topic: GE Pension Buyout
Replies: 85
Views: 13397

Re: GE Pension Buyout

Good to know that you are selecting option 3. Another past GE employee here. I saw my offer letter today. Can the OP share details about what can go wrong with PBGC (do they give full benefit if you are under 5000$ limit? Can they reduce the benefit?). Here are the options I am given: Lumpsum: $34,...
by Meg77
Fri Oct 11, 2019 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Offer w/ very short decision turn around time
Replies: 12
Views: 1853

Re: Lump Sum Offer w/ very short decision turn around time

The younger you are and the smaller the pension compared to your overall financial picture, the more I'd lean toward taking the lump sum. Financially you can weigh the likelihood that you can earn more on the lump sum than the pension will pay, etc., but there is also always some level of risk (that...
by Meg77
Fri Oct 04, 2019 2:02 pm
Forum: Personal Consumer Issues
Topic: Mortgage rates what would you choose
Replies: 23
Views: 2059

Re: Mortgage rates what would you choose

Agree, it totally depends on your cash flow and existence of/progress toward other goals. You say you "can't" get a 15 year fixed which I assume means you want to keep the loan with the current lender for some reason and they don't offer a 15 year fixed (which is odd if they offer a 10 and a 30...)...
by Meg77
Thu Oct 03, 2019 1:32 pm
Forum: Personal Consumer Issues
Topic: Mortgage rates what would you choose
Replies: 23
Views: 2059

Re: Mortgage rates what would you choose

Agree, it totally depends on your cash flow and existence of/progress toward other goals. You say you "can't" get a 15 year fixed which I assume means you want to keep the loan with the current lender for some reason and they don't offer a 15 year fixed (which is odd if they offer a 10 and a 30...)....
by Meg77
Thu Sep 19, 2019 5:02 pm
Forum: Personal Investments
Topic: Newly widowed need investment advice
Replies: 35
Views: 2350

Re: Newly widowed need investment advice

In your situation I would absolutely pay off the mortgage. Sure, your interest rate is really low at 2.75% - but your money market fund is paying you a lot less than that, and the yield on bonds is less than that too for anything relatively safe. There is no point in keeping the mortgage just to inv...
by Meg77
Wed Sep 18, 2019 3:44 pm
Forum: Personal Consumer Issues
Topic: Help! Bought new car and don't like it
Replies: 37
Views: 7017

Re: Help! Bought new car and don't like it

I'm in a similar boat. I bought a brand new Mercedes (my first Mercedes - likely my last) in April and almost immediately realized I didn't "love" the car, at least not enough to warrant a big new shiny upgrade. I've thought almost daily about trading it in since then, though now I've put about 120...
by Meg77
Tue Sep 17, 2019 4:48 pm
Forum: Personal Consumer Issues
Topic: Retirees that have hobbies that make money - what are they?
Replies: 26
Views: 3541

Re: Retirees that have hobbies that make money - what are they?

My mom taught math online and enjoyed the extra money and mental stimulation. If I recall she made about $20K a year for about 15-20 hours a week of work (some of that was being logged in just in case anyone wanted to drop by for virtual office hours, which was not typical). She decided the hours we...
by Meg77
Tue Sep 17, 2019 4:38 pm
Forum: Personal Consumer Issues
Topic: Help! Bought new car and don't like it
Replies: 37
Views: 7017

Re: Help! Bought new car and don't like it

I'm in a similar boat. I bought a brand new Mercedes (my first Mercedes - likely my last) in April and almost immediately realized I didn't "love" the car, at least not enough to warrant a big new shiny upgrade. I've thought almost daily about trading it in since then, though now I've put about 1200...
by Meg77
Mon Sep 16, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Which cash account to buy second home??
Replies: 5
Views: 454

Re: Which cash account to buy second home??

Traditional IRA distributions will be taxable, so lump sum distributions for large purchases is generally not advisable from there. Roth accounts are most advantageous and so want to be left to grow as long as possible (again in general). Not sure what the purpose of the trust is or what kind it is,...
by Meg77
Mon Sep 16, 2019 12:30 pm
Forum: Personal Investments
Topic: A few years later... guidance/advice? Early 30's
Replies: 15
Views: 2489

Re: A few years later... guidance/advice? Early 30's

4. If you roll your 401k, I'd roll it to your current employer instead of to Vanguard since your current plan has good options with low fees. This will enable you to do Backdoor Roth IRA contributions if/when you make to much to make direct Roth contributions. Once you have high Traditional IRA bal...
by Meg77
Thu Sep 12, 2019 2:04 pm
Forum: Personal Investments
Topic: A few years later... guidance/advice? Early 30's
Replies: 15
Views: 2489

Re: A few years later... guidance/advice? Early 30's

Hi there! Overall things look pretty good, but you could definitely optimize some things. 1. I wouldn't hold bonds at all given your large cash cushion. Cash and bonds offer about the same returns and diversification risk (arguably, though cash is even safer), so until/unless you buy a house or inve...
by Meg77
Wed Sep 11, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Hard Money Loans
Replies: 34
Views: 5998

Re: Hard Money Loans

For the record you can finance more conservative deals and charge a bit less in interest. I've lent money for private mortgages that were well collateralized with personal guarantees attached for 5%-7% with no origination fee. Easy money (as long as you don't have to foreclose...). My dad is seller...