Search found 2405 matches

by Meg77
Fri Dec 14, 2018 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: Am I Investing Too Much?
Replies: 18
Views: 1919

Re: Am I Investing Too Much?

You may want to post your income and situation to get better responses. I went back and looked at your last post though, so I can see that you earn about $65,000 per year. Assuming that will be about the same in 2019, your savings rate is 43%. That is great - but it's not as amazing as it sounds sin...
by Meg77
Fri Dec 14, 2018 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Accidentally created a wash sale
Replies: 4
Views: 404

Re: Accidentally created a wash sale

Yes, it sounds like you created a wash sale. The order of the purchase/sale doesn't matter. If you bought shares 30 days before OR after the sale, it's a wash sale. But you're not doubly penalized for buying BOTH before and after the sale. Bottom line is that you simply won't get to deduct the capit...
by Meg77
Fri Dec 14, 2018 2:35 pm
Forum: Investing - Theory, News & General
Topic: Investing in bonds while you still have a mortgage
Replies: 12
Views: 1218

Re: Investing in bonds while you still have a mortgage

In general I think you're right. A mortgage (or any fixed rate debt) is really just a bond. Literally, investors buy consumer mortgages which end up in our bond portfolios. It's an asset if you're the lender and a debt if you're the borrower, but a bond is a bond. Therefore investing in bonds and pa...
by Meg77
Fri Dec 14, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice as I Turn 30
Replies: 20
Views: 1764

Re: Seeking Advice as I Turn 30

But my main concern now is... If I was to reallocate my retirement portfolios to move 15% from small cap to S&P500, the Small Caps is down 7.5% YTD and I should still do? I cannot get over the mindset of treating these funds as stocks, and that I am selling at a loss to buy a different one without ...
by Meg77
Fri Dec 14, 2018 10:51 am
Forum: Personal Finance (Not Investing)
Topic: ReFi...Yes or No
Replies: 16
Views: 963

Re: ReFi...Yes or No

Hi there, I'm a landlord and also a banker. TLDR - NO NO NO. First of all you should not refinance just to try to get some cash flow. You'd be boosting your interest expense (i.e. LOWERING your return) just to put more money in your pocket each month and less to home equity. If your budget is tight ...
by Meg77
Wed Dec 12, 2018 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice as I Turn 30
Replies: 20
Views: 1764

Re: Seeking Advice as I Turn 30

Just want to add that you should open a free Personal Capital account and link all your accounts. It will give you your asset allocation across all holdings, which I find super helpful. I'd need a list of all funds available to be more specific, but based on what you've included I'd be putting proba...
by Meg77
Thu Dec 06, 2018 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about protecting Premarital Assets
Replies: 21
Views: 1963

Re: Questions about protecting Premarital Assets

If you really want to keep things separate then usually a trust is the best/only way to go. You can get a prenup, but then you still actually have to carefully monitor and track everything indefinitely to make sure the separate assets stay separate. This is much easier said than done, as you are fin...
by Meg77
Thu Dec 06, 2018 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Unemployed, questions about personal investing situation.
Replies: 13
Views: 1373

Re: Unemployed, questions about personal investing situation.

Don't worry about the market volatility! You don't need the invested money for decades, so just ignore the noise of year to year fluctuations. Remember that it's actually GOOD for the market to "crash" so you can buy more cheaper while you are in the accumulation stage (and until you're in the decum...
by Meg77
Thu Dec 06, 2018 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Should I sell?? 1,118.75% gain!!
Replies: 26
Views: 3835

Re: Should I sell?? 1,118.75% gain!!

Um, yes. Sell it and consider it a little holiday gift to yourself. You got lucky; and you clearly don't follow the stock as you were shocked to find the value had soared. Sell and move on! :)
by Meg77
Wed Dec 05, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Home Question, What Would You Do?
Replies: 21
Views: 2127

Re: Home Question, What Would You Do?

I agree; it seems moving is worth it. I'd have a hard time spending $150k to renovate a home when you don't think you'll recoup much of the cost of the renovation. AND that project doesn't get you to dream house status as it only can fix so much. Upgrading to a $800K home costs $400K versus $150K, b...
by Meg77
Wed Nov 14, 2018 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Invest or pay of mortgage?
Replies: 13
Views: 1551

Re: Invest or pay of mortgage?

The answer depends party on what you are earning on your cash, what inflation rates are where you live, and how dramatically your mortgage interest rate can fluctuate. I have a mortgage at 2.75% which I am choosing not to pay off or pay extra on because I value having liquidity more than a paid off ...
by Meg77
Fri Nov 09, 2018 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: Which Loan to Pay off?
Replies: 6
Views: 414

Re: Which Loan to Pay off?

Mathematically your effective mortgage interest rate is 3.01% IF it's true that you can deduct the full amount of mortgage interest. That's clearly less than the student loan rate, so mathematically it makes more sense to pay off the student loan. It's also the smaller balance, so psychologically it...
by Meg77
Fri Nov 09, 2018 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: Full Retirement Revamp and Planning for ER/FI.
Replies: 15
Views: 1310

Re: Full Retirement Revamp and Planning for ER/FI.

Cash Total: 16.5% $44,000 cash (for investing – do not include emergency funds. Currently in checking accounts) Move this to the fidelity money market account so it can earn closer to 2%. Will contribute to Mega Roth Backdoor if possible. I've considered this myself, but we decided to accumulate fu...
by Meg77
Fri Nov 09, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone use a Wealth Manager?
Replies: 26
Views: 3180

Re: Anyone use a Wealth Manager?

There are lots of threads on this (search "financial advisor" and you'll get more hits). The term wealth manager can mean a lot of things, but the consensus seems to be that they are useful if you have no interest/aptitude in managing your own affairs or if your situation is extremely complex. But i...
by Meg77
Fri Nov 09, 2018 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Are We In A Real Estate Bubble?
Replies: 112
Views: 13615

Re: Are We In A Real Estate Bubble?

The current Beige Book (dated October 24) details the economic conditions in each of the 12 Federal Reserve Districts. Overall the real estate data appears to be quite mixed. In my district, Dallas, which covers all of TX as well as northern LA and southern NM, here is an excerpt: Home sales were fl...
by Meg77
Fri Nov 09, 2018 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Are We In A Real Estate Bubble?
Replies: 112
Views: 13615

Re: Are We In A Real Estate Bubble?

I was at a real estate work shop recently and the brokers hosting it talked about how easy it is to get a zero % down payment for 1st time home buyers even with questionable credit. Which is a red flag (History repeating itself?) and I think is 1 of the reasons for the last real estate? Key words: ...
by Meg77
Fri Nov 09, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11958

Re: If expenses are low, are some of us over saving?

I agree with your original premise as well as your revised question. Short answer: yes, many of us are over-saving. Studies indicate that most retirees - even those with "only" $100k - $250k in retirement accounts - NEVER spend down their retirement savings. Many retirees die with more than they had...
by Meg77
Tue Nov 06, 2018 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking lot loan to build house
Replies: 19
Views: 1358

Re: Seeking lot loan to build house

It may be different in other states, but lot loans are common at all the banks I've worked for in Texas. Usually banks want 40-50% down, and often the term is only 1-2 years. The payments can be interest only though. Basically lot loans are considered short term bridge loans until they convert into ...
by Meg77
Tue Nov 06, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Am I buying too much house??! What kind of mortgage?
Replies: 33
Views: 6724

Re: Am I buying too much house??! What kind of mortgage?

As another high earning professional female, I encourage you to go for it. I bought a condo in my 20s when I was single and lived in it for 9 years until I got married and bought a townhome with DH. I kept the condo and rented it out for a few years before finally letting go. But I LOVED putting dow...
by Meg77
Tue Nov 06, 2018 4:16 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with windfall
Replies: 34
Views: 2710

Re: What to do with windfall

Congrats on the windfall. I think I'd allocate the money as follows: $6000 - Roth IRA contribution (you) $6000 - Roth IRA contribution (spouse) $6900 - HSA contribution $11,000 - pay off 6.35% student loan $10,000 - pay off 5.75% student loan $3,500 - pay off 5.65% student loan $6600 remaining - tak...
by Meg77
Wed Oct 31, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9363

Re: Girlfriend's Student Loans

I don't understand the point of the original question. Should you focus on increasing your income and building up cash? ABSOLUTELY! That will serve you well wherever your life takes you in your 30s. If it takes you down the aisle with this particular woman, then you can figure out how to manage your...
by Meg77
Fri Oct 26, 2018 3:16 pm
Forum: Investing - Theory, News & General
Topic: Cash Parking Lot: Prime MM or limited term tax exempt?
Replies: 19
Views: 2496

Re: Cash Parking Lot: Prime MM or limited term tax exempt?

I've been using the Prime MM but switched to the settlement fund (federal MM) this week. I was frustrated that it takes a day or so for cash to settle when I want to sell cash and buy ETFs or individual stocks (rather than exchanging into another VG fund as of the market close). I don't trade active...
by Meg77
Fri Oct 26, 2018 3:11 pm
Forum: Investing - Theory, News & General
Topic: Vanguard website "unavailable during weekend of Nov 3"
Replies: 203
Views: 18473

Re: Vanguard website "unavailable during weekend of Nov 3"

Seems like it is already down. Trying to TLH and can't even get an order in today. Yes, I cannot even buy a MF. The order page is broke. Yes, I had similar problems when using Chrome. I switched to Firefox and was able to get my TLH orders in. I was fine around 11am CST using Internet Explorer. Jus...
by Meg77
Fri Oct 26, 2018 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest OR Buy More?
Replies: 19
Views: 1516

Re: Tax Loss Harvest OR Buy More?

If you bought within the the last 31 days (including today), then you would need to also sell those shares or else you would have a wash sale. Not a big deal, but something to keep in mind. And most likely those shares are at a loss right now anyway. thanks, good to know. would direct exchange into...
by Meg77
Fri Oct 26, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Action on mortgage lender.
Replies: 16
Views: 1686

Re: Action on mortgage lender.

Thanks for the reply. I understand its not my right to get a mortgage but there were other lenders who were willing to give me the loan based on my status. I went with my current lender because they had good rates , were fine with my status and finances and they pre-approved my application. If they...
by Meg77
Wed Oct 24, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Action on mortgage lender.
Replies: 16
Views: 1686

Re: Action on mortgage lender.

Thanks for the reply. I understand its not my right to get a mortgage but there were other lenders who were willing to give me the loan based on my status. I went with my current lender because they had good rates , were fine with my status and finances and they pre-approved my application. If they...
by Meg77
Wed Oct 24, 2018 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Action on mortgage lender.
Replies: 16
Views: 1686

Re: Action on mortgage lender.

I'm so sorry for your hassles, but as a mortgage banker I can tell you that it is really common for lenders to miss closing dates. It's not ideal, and they certainly usually rush to make it work, but realtors are not surprised to get last minute calls saying the lender needs a few more days. And sel...
by Meg77
Wed Oct 24, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a House - Mortgage or Cash?
Replies: 16
Views: 2053

Re: Buying a House - Mortgage or Cash?

Thank you for the replies. The capital gains hit would be there but may not be all that significant. We are fairly conservative at 60/40 and have a lot of taxable in high yield savings, short term CDs and iBonds. Would need to sell some appreciated equities though. Tax bill would likely be about $5...
by Meg77
Wed Oct 17, 2018 2:27 pm
Forum: Investing - Help with Personal Investments
Topic: advice on first home
Replies: 28
Views: 1779

Re: advice on first home

You mention your interest rate would be about 5.5% solely due to the fact you don't have 20% down. If I were in your shoes I would shop around! In October of 2017 I was able to get a 3.25% interest rate with only 3% down, a first time homeowner loan from a local bank. Just because you don't have 20...
by Meg77
Wed Oct 17, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: saving for first home
Replies: 1
Views: 266

Re: saving for first home

It's hard to say without more information, but in general ESPP plans are advantageous when they allow you to roll funds in and out at least quarterly. For example, you should max out your ESPP if they give you the standard 15% discount on the stock price, but you should not hold those funds long ter...
by Meg77
Fri Oct 05, 2018 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: Mortgage or liquidate securities?
Replies: 11
Views: 854

Re: Mortgage or liquidate securities?

Hey there, banker here. You don't list your income but I assume it's fairly medium/high since you have so much saved for retirement. If you're being extremelly frugal but can afford a much more expensive home, then I might suggest getting a bit larger/nicer home now rather than potentially wanting t...
by Meg77
Thu Oct 04, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Buying house in retirement??
Replies: 23
Views: 3948

Re: Buying house in retirement??

Banker here. All banks that originate mortgages have to document and verify a customer's ability to repay a consumer mortgage loan. This is a federal regulatory requirement under the Ability to Repay (ATR) rule which is outlined in the Dodd-Frank act. Per the ATR rule, banks MUST consider and addre...
by Meg77
Thu Oct 04, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 62
Views: 11088

Re: Anyone want to share their monthly budget? Here's ours

Just because I'm killing time, here's our 2017 actual figures: Mortgage - $2,436 (15 yr fixed) Property tax - $1,000 Home insurance - $133 HOA - $100 House cleaner - $175 Utilities - $578 (includes cable/internet, cells) Car payment - $585 (at 1% so DH won't pay it off) Auto/umbrella insurance - $1...
by Meg77
Fri Sep 28, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: New Relationship - Best way to handle finances?
Replies: 92
Views: 6967

Re: New Relationship - Best way to handle finances?

Here is what I would do. Open a joint checking account that you pay joint expenses from. This would include rent, utilities and other basic bills, but you should also allocate additional funds for meals out together, trips you take together, and so on. Whatever the total amount is that you think is ...
by Meg77
Wed Sep 26, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to payoff my HELOC?
Replies: 9
Views: 852

Re: Does it make sense to payoff my HELOC?

Hi there, I'm a banker and I think you should definitely pay off the HELOC as long as the draw period is set at 10 years. You can call your bank and ask to make sure it will remain open if you pay it down. It definitely makes sense to just pay it down and then draw it up again when you get ready to ...
by Meg77
Wed Sep 26, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Buying house in retirement??
Replies: 23
Views: 3948

Re: Buying house in retirement??

Banker here. All banks that originate mortgages have to document and verify a customer's ability to repay a consumer mortgage loan. This is a federal regulatory requirement under the Ability to Repay (ATR) rule which is outlined in the Dodd-Frank act. Per the ATR rule, banks MUST consider and addres...
by Meg77
Tue Sep 25, 2018 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage application: Disclosing All Assets?
Replies: 17
Views: 2094

Re: Mortgage application: Disclosing All Assets?

Banker here. Technically you're pledging that you are disclosing all income and assets on a URLA mortgage application when you sign at the bottom, but in practice many people leave off some assets (and even debts, which we later discover on the credit reports). Leaving off some retirement assets is...
by Meg77
Mon Sep 24, 2018 1:20 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with a windfall
Replies: 10
Views: 1537

Re: What to do with a windfall

I would definitely keep it in high yield savings. If/when the market corrects you might move half or all of it into stock funds, but unless/until that happens I would leave it all in cash. There's no reason to tie it up in the market when stocks are at all time highs and with so many life changes on...
by Meg77
Mon Sep 24, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage application: Disclosing All Assets?
Replies: 17
Views: 2094

Re: Mortgage application: Disclosing All Assets?

Banker here. Technically you're pledging that you are disclosing all income and assets on a URLA mortgage application when you sign at the bottom, but in practice many people leave off some assets (and even debts, which we later discover on the credit reports). Leaving off some retirement assets isn...
by Meg77
Mon Sep 24, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to get $100k cash
Replies: 86
Views: 7771

Re: Best way to get $100k cash

Banker here. Don't know of any such options. But I'm also not sure why it would be better psychologically to trade a low, fixed rate tax deductible mortgage for an unsecured loan of the same size which could be called or withdrawn or have terms change at any time. Mortgages have a lot more regulatio...
by Meg77
Thu Sep 20, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me assess condo purchase and overall finances
Replies: 22
Views: 1290

Re: Please help me assess condo purchase and overall finances

You guys have me worried now. I'm past the due diligence period and closing is set for October 2. If I get a another quote, I won't meet the closing date. The loan has not been finalized so I can still decide to put down 20%. Is it possible that my interest rate is in fact 5%? I think the daily ave...
by Meg77
Thu Sep 20, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me assess condo purchase and overall finances
Replies: 22
Views: 1290

Re: Please help me assess condo purchase and overall finances

Hi there! I am a banker and also have taken out and refinanced quite a few mortgages myself so I'm happy to offer some insight. I'm in the process of purchasing a 2 bed/2 bath condo in Atlanta for 190k (HOA is $232/mo). I'm currently renting a 1 bed apartment at $930/mo. I used the NY Times rent vs ...
by Meg77
Thu Sep 20, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Hubby soon to be laid off
Replies: 74
Views: 7910

Re: Hubby soon to be laid off

It sounds like you guys are doing pretty well. In fact this could be viewed as a bit of an opportunity. I wrote out a whole post but am deleting it because I came around to what I think is a better idea for you guys. 1. Use your taxable investments to pay off the mortgage. You'll still have 6 figure...
by Meg77
Thu Sep 20, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 83
Views: 7651

Re: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?

I suggest thinking of it in percentage terms versus aiming to "max out" retirement accounts or put in "only" enough to get the match. Using these as the two options is "anchoring" - a behavioral finance bias that means you are attracted to an arbitrary number for some reason other than a rational, o...
by Meg77
Thu Sep 20, 2018 1:07 pm
Forum: Investing - Theory, News & General
Topic: Are unleveraged real estate returns more comparable to stock market returns or just a notch above inflation?
Replies: 70
Views: 4068

Re: Are unleveraged real estate returns more comparable to stock market returns or just a notch above inflation?

I've read a lot of opinions on the forums claiming that unleveraged real estate returns are comparable to stock market returns and others claiming that unleveraged real estate returns are just barely a notch above inflation and that all of the stock-like return comes from the leverage. Obviously th...
by Meg77
Thu Sep 20, 2018 12:57 pm
Forum: Personal Consumer Issues
Topic: Should I bother meeting with a Chase Private Client Rep
Replies: 56
Views: 5103

Re: Should I bother meeting with a Chase Private Client Rep

A lot of people here clearly have no idea what private banking is. I am a private banker for the record, and I am a private client at Wells Fargo. We don't quite qualify as the minimums are very high at the big banks to become a private client, but a former colleague of mine moved over there and I b...
by Meg77
Thu Sep 20, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: how do/did you teach your kids finances/investing?
Replies: 28
Views: 2328

Re: how do/did you teach your kids finances/investing?

You want your daughter to manage her money/budget. But, you would not let her manage any money. So, how could she learn anything? Why do you need to say "no" to her anyhow? We give our kid $25 for birthday and X'mas. They receive a few hundred as gift annually from the extended family. They get to ...
by Meg77
Thu Sep 20, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8888

Re: Physical Banking - Any benefits anymore?

As a banker, I am enjoying this thread. A lot more positive comments about bank branches than I expected! :) You may all be interested to know that renovating branches to add amenities in an effort to get people to want to come and hang out in them is a bit of a trend being discussed. Capital One ju...
by Meg77
Tue Sep 18, 2018 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: how do/did you teach your kids finances/investing?
Replies: 28
Views: 2328

Re: how do/did you teach your kids finances/investing?

You want your daughter to manage her money/budget. But, you would not let her manage any money. So, how could she learn anything? Why do you need to say "no" to her anyhow? We give our kid $25 for birthday and X'mas. They receive a few hundred as gift annually from the extended family. They get to ...
by Meg77
Tue Sep 18, 2018 3:46 pm
Forum: Personal Consumer Issues
Topic: Nytimes.com subscription price testing?
Replies: 9
Views: 903

Re: Nytimes.com subscription price testing?

Hmm. I pay $15 (or maybe $15.99) monthly for my digital subscription. I've had it for several years, and it's the same price it was when I signed up. Might be time to cancel for a bit and see what other offers I can drum up. Meg- I had digital at that price and decided to cancel. To cancel you must...