Search found 2336 matches

by Meg77
Fri Aug 17, 2018 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: FIRE within 5 years with high income?
Replies: 9
Views: 1950

Re: FIRE within 5 years with high income?

Thanks for all the incredible insight, very much appreciated. I signed up to PC using your link, so hopefully you got credit. I'm really excited to use it, I've been worried for a while to "share" all my info, but after due diligence it looks quite buttoned up and used by many. It will be really in...
by Meg77
Fri Aug 17, 2018 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: left advisor, overwhelmed
Replies: 7
Views: 1067

Re: left advisor, overwhelmed

Hi there! First thing to do is realize you're in a great position. There is NO RUSH to make any big changes. You have over $2.3 million in investments, pensions on the way that will cover most of your expenses eventually, tons of cash and no debt. Congrats! I don't know what your wife's income is, b...
by Meg77
Wed Aug 15, 2018 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Newly Married and Hoping to Start on the Right Foot
Replies: 22
Views: 1401

Re: Newly Married and Hoping to Start on the Right Foot

Congrats! I don't know who came into the marriage with all the cash or what the extended family relationships are like, but looking at everything from the outside, here is what I'd do: 1. Pay off her student loans today from cash. You have plenty of liquidity, and your cash flow will improve by $300...
by Meg77
Wed Aug 15, 2018 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: FIRE within 5 years with high income?
Replies: 9
Views: 1950

Re: FIRE within 5 years with high income?

Hi All, I've been thinking very hard about things lately, and I've come to terms that I'm not sure I feel comfortable with a potential 50% drop in overall assets, especially if I'd like be FIRE within 5 years or less. I don't know if I'll actually leave my job, as I love it, but that can obviously ...
by Meg77
Wed Aug 15, 2018 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: 33 Male, how am I doing?
Replies: 28
Views: 2581

Re: 33 Male, how am I doing?

I agree, you're doing quite well. The median household income in this country is about $55k - you make more than double that and only have yourself to support. Don't compare yourself to the wealthiest of the wealthy except for inspiration and advice. Regarding home ownership : if that's really a dre...
by Meg77
Wed Aug 15, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 98
Views: 4628

Re: Take auto loan 0.9% if I can afford cash?

The behavioral psychology behind these decisions is much more important than the math. --Often financing deals that good require you to buy a brand new model, to pay for the extended warranty, or to buy other add-ons you may not have otherwise purchased (the tire warranty, in my husband's case most ...
by Meg77
Tue Aug 14, 2018 4:36 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall proceeds - what to do?
Replies: 16
Views: 1336

Re: Windfall proceeds - what to do?

The idea would be to put this money to work immediately and keep 1 of us either at home or free to pursue other passions, business interests, and/or raise the kid without impacting our lifestyle. Spouse is W-2 with $175k income plus insurance/benefits, will continue to work for 10-15 more years at ...
by Meg77
Tue Aug 14, 2018 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall proceeds - what to do?
Replies: 16
Views: 1336

Re: Windfall proceeds - what to do?

Do you have an emergency fund? Yes, about $125k in a 1.50% online savings account Pay off the student loan and get rid it. Not sure if we want to do this, low, low, low interest rates, and minimal impact to our monthly cash flow ($230) Set money aside for the children CHILD :D . College is paid for...
by Meg77
Tue Aug 14, 2018 10:32 am
Forum: Personal Consumer Issues
Topic: Should I Do This? [borrow from relative to pay off loan]
Replies: 55
Views: 2812

Re: Should I Do This? [borrow from relative to pay off loan]

You raise a good point and I will say, this obviously was a bad place to put my money...but a mistake I've learned from. The only way I see this relationship going sour is if I don't pay him...and I've been making payment's with no issues. Let's just say the money isn't an issue for him... If I sel...
by Meg77
Tue Aug 14, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Marriage [How should finances be handled?]
Replies: 58
Views: 4566

Re: Marriage

A marriage is a legal contract, the joining of two parties - usually for love, companionship and to pool resources as two if handled strategically can improve their outcomes. If you both are rowing in sync, you’ll find the boat will glide across the water towards your destination in due time. If on...
by Meg77
Mon Aug 13, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Mid 30s Crisis: Personal budget, savings and goals
Replies: 36
Views: 6973

Re: Mid 30s Crisis: Personal budget, savings and goals

Welcome! Nothing wrong with looking to improve or optimize your situation. Lots of people on this forum are doing better than most, but that doesn't mean we don't have anxiety around money, career, life, and all the rest. 1. Pay off the truck today. 2. Pay off the house this month. This will leave y...
by Meg77
Mon Aug 06, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Baby on way: life insurance Qs
Replies: 27
Views: 1416

Re: Baby on way: life insurance Qs

DW and I are expecting our first child! We're still a ways away, but it's probably time for us to do some "real adulting" and get life insurance, wills, etc. Congrats! Right now, I'm looking into term life insurance, and trying to figure out how much/what term we should get. Most of the articles/ca...
by Meg77
Mon Aug 06, 2018 3:33 pm
Forum: Investing - Help with Personal Investments
Topic: CD ladder for money needed in 3-5 years?
Replies: 5
Views: 601

Re: CD ladder for money needed in 3-5 years?

I wouldn't bother setting up a CD ladder for $30k. Vanguard's prime money market fund (and several others) are paying right around 2% currently. You're not going to get much more than that on a 3 year CD. Even if you could find one paying 3%, the 1% difference in spread is only worth $300 in interes...
by Meg77
Mon Aug 06, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: When are the taxes due on rental property sale
Replies: 14
Views: 909

Re: When are the taxes due on rental property sale

I sold a rental last year and increased by W2 withholding in an effort to pay the capital gains and depreciation recapture that I estimated I'd owe. You don't have to make an estimated tax payment if you're able to do that if you can get close enough. From the IRS website: If you didn't pay enough t...
by Meg77
Fri Aug 03, 2018 1:16 pm
Forum: Personal Consumer Issues
Topic: Realtor Compensation (Couldn't sell, so renting)
Replies: 21
Views: 2254

Re: Realtor Compensation (Couldn't sell, so renting)

1 month's rent is standard, but often that is split with the renter's agent (so each agent gets 50% of one month's rent). If you're just paying directly and the renter didn't have separate representation, I'd offer 50% of 1 month's rent.
by Meg77
Fri Aug 03, 2018 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking opinions: How to invest 150k?
Replies: 8
Views: 740

Re: Seeking opinions: How to invest 150k?

You say you want 60-65% US stocks, 15-20% international stocks, and 15-20% bonds. So: 1. Put the entire Roth IRA in the VG total international index. That's 16.7% which falls within your target for international... Thanks very much, meg77-- you have answered a lot of my questions and I appreciate i...
by Meg77
Thu Aug 02, 2018 3:39 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking opinions: How to invest 150k?
Replies: 8
Views: 740

Re: Seeking opinions: How to invest 150k?

How were the funds invested in your 401k? Presumably the asset allocation should remain the same; just pick the index fund(s) that mimic your previously decided upon asset allocation. If the funds were not invested according to your stated AA, then you can just pick the funds that get you closest to...
by Meg77
Thu Aug 02, 2018 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 9465

Re: Realities of Early Retirement Model (FIRE)?

I think it's more than that. The fact that a human being can run a mile in under 4 minutes is jarring and amazing to me, but I don't run around the internet posting reasons why it is impossible. There is something about FIRE (likely in the terminology) that gets people riled up. I don't think it's ...
by Meg77
Thu Aug 02, 2018 3:01 pm
Forum: Personal Consumer Issues
Topic: Career Change, Give Up and focus on Retirement, or Make the Leap???
Replies: 13
Views: 1424

Re: Career Change, Give Up and focus on Retirement, or Make the Leap???

-Always ON mentality. While I only work a reasonable 50 hours a week, the constant phone calls, texts, VPNs onto my laptop, and others make me seem more like a lackey to friends and family and make me "twitchy" like I'm constantly on call hearing the phone ring. This is a minimum job expectation an...
by Meg77
Thu Aug 02, 2018 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6147

Re: Nervous about not using a personal wealth manager. How do I do this myself?

It's just so much cheaper, more efficient and easier - with much quicker trading/response times - to let an algorithm or other process do the investment management once you/they determine your AA and fund choices. So are you recommending something like Betterment? Just do it yourself, seriously. It...
by Meg77
Wed Aug 01, 2018 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Nervous about not using a personal wealth manager. How do I do this myself?
Replies: 135
Views: 6147

Re: Nervous about not using a personal wealth manager. How do I do this myself?

Just want to point out that paying for financial planning and paying for investment management are two different things. It can be very valuable to pay (as you have) for planning services and for advice. But paying/charging for investment management is increasingly a losing proposition both for the ...
by Meg77
Tue Jul 31, 2018 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5781

Re: Consistently over budget on food - what are you guys eating?

Thanks everyone for the feedback. In regards to what the food budget is of overall savings, we save about $6K/mo so going over $1-$200 isn't a huge deal, but I don't want to get into a habit that it is "OK" But it is ok. Percentage wise and frankly even dollar wise, you are spending a perfectly rea...
by Meg77
Tue Jul 31, 2018 2:08 pm
Forum: Investing - Theory, News & General
Topic: Are millennials botching their asset allocations?
Replies: 41
Views: 3622

Re: Are millennial botching their asset allocations?

I would wager that most of the Millennials who have IRA and/or taxable accounts at Vanguard also have other financial assets: an employer 401k plan, bank savings/checking accounts, etc. This makes it difficult to speculate broadly based solely on asset allocation of one person's Vanguard holdings. I...
by Meg77
Tue Jul 31, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: High expense ratio worth it/Portfolio review
Replies: 48
Views: 3436

Re: High expense ratio worth it?

Their funds might outperform the market net of fees - lots of actively managed mutual funds do. But it's doubtful that your funds will outperform the market after expense ratios AND the advisor's 1% fee. However, you aren't comparing apples to apples. If you have the support and guidance of a qualif...
by Meg77
Tue Jul 31, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to prepare for "the talk"
Replies: 64
Views: 4931

Re: How to prepare for "the talk"

It's a good idea to start asking basic questions. But they are still fairly young, so if they are in decent health I wouldn't try to get too specific yet (a lot can change over the next 25 years). 1. Do they have a will and other estate documents, such as a healthcare power of attorney? If so, where...
by Meg77
Tue Jul 31, 2018 10:22 am
Forum: Investing - Help with Personal Investments
Topic: Net worth of $3.7M at age 47 - can I retire?
Replies: 126
Views: 14173

Re: Net worth of $3.7M at age 47 - can we retire?

Thanks everyone for their feedback. Given that stock market returns have far outpaced residential real estate appreciation over time, I'm a bit reluctant to pay the house off immediately. Also, a 4.13% interest rate, which we can itemize, is pretty low (not as low as the 2.875% I was close to getti...
by Meg77
Mon Jul 30, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 9465

Re: Realities of Early Retirement Model (FIRE)?

Lots of households live off $30k - $40k a year - including many retired folks living primarily off social security in this country. It's certainly possible, especially when you have no debt and a paid off house in a low or moderate cost of living area (which includes many large city neighborhoods an...
by Meg77
Mon Jul 30, 2018 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Ownership of home with second wife
Replies: 184
Views: 11788

Re: Joint Ownership of home with second wife

I propose this: --Buy the $700K home that is larger/nicer that you both want. Use a 90% first mortgage instead of an 80% mortgage; you can view the PMI is the cost of protecting your kids' inheritance. Or you can get a 10% second mortgage and an 80% first mortgage if PMI really bugs you that much. -...
by Meg77
Thu Jul 26, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Debt free -- impact on credit score
Replies: 16
Views: 1455

Re: Debt free -- impact on credit score

Banker here. Your scores may dip slightly over the next few years if you only have credit cards active and no other debts. But they aren't likely to fall into the territory that makes it harder to get a loan unless you make late payments or have no open accounts for more than 6 months. Diversity of ...
by Meg77
Thu Jul 26, 2018 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: Thoughts on prioritizing 401k, mortgage and/or 529
Replies: 23
Views: 2206

Re: Thoughts on prioritizing 401k, mortgage and/or 529

Max out 401k, Roths (for your spouse too) and HSA before funding 529s. But given your taxable stash, you can do all of the above by tapping that account. I wouldn't pay extra on the mortgage until/unless college is considered checked off the list (either because you can afford to cash flow tuition a...
by Meg77
Thu Jul 26, 2018 3:48 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 9267

Re: Toughest Purchase of my Life. Engagement Ring time

Two Words: Cubic Zirconia And one more: Elope I'd be more than happy to get married in Vegas and plan an after-wedding party in a Hall or our House. I really feel like the Engagement ring and a Wedding are for other people. Yes, but is your prospective fiance one of those other people? If not, why ...
by Meg77
Tue Jul 24, 2018 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Turned down for credit card
Replies: 35
Views: 2775

Re: Turned down for credit card

I'm a banker, and we recommend the Discover It card to young clients who encounter this problem. It's marketed as a starter card for students. Might be a good foot in the door if he wants to build a credit history. Other than that you can get a CD-secured loan from a bank or a secured credit card wh...
by Meg77
Tue Jul 24, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: What Comes Next After Establishing Personal Finance Basics?
Replies: 14
Views: 2017

Re: What Comes Next After Establishing Personal Finance Basics?

You definitely need a will. I'd just ask other attorneys or financial professionals I know for a reference. You probably don't need a financial advisor at this point (and I am one). As long as most of your assets are personal (home, cars) and retirement (401ks, IRAs), there is not much incentive for...
by Meg77
Tue Jul 24, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Legacy across generations......
Replies: 66
Views: 4173

Re: Legacy across generations......

No one has mentioned the generation skipping estate tax, but this can be a huge reason to avoid giving to anyone more than 37.5 years younger than you (the cutoff to qualify unless you're a spouse or offspring) if you have a large enough estate to be worried about estate taxes. This tax is huge; it ...
by Meg77
Tue Jul 24, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off highest APR or highest balance?
Replies: 20
Views: 1099

Re: Pay off highest APR or highest balance?

Is there any evidence that this psychological benefit of paying off the smallest balance first has any lasting benefit? What I mean is, it seems possible that many people who pay down the smallest debt first then look at the bigger one and get discouraged and start making poor decisions. Interestin...
by Meg77
Tue Jul 24, 2018 9:24 am
Forum: Personal Consumer Issues
Topic: Daughter wants to travel on her own to Montreal
Replies: 105
Views: 6780

Re: Daughter wants to travel on her own to Montreal

As an adventurous younger female, I will say this sounds a bit suspicious unless you have more info you aren't sharing - or unless she has more info she isn't sharing with you. Most young people want to travel with a friend, a group of friends, or a lover. This is particularly true the summer before...
by Meg77
Mon Jul 23, 2018 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Investing with a Developer
Replies: 48
Views: 3546

Re: Investing with a Developer

I've participated in other real estate partnerships in north Texas, but never a development deal. In my experience, a 15% fee is common. If not a direct fee, I've typically paid a 15% "promote," where the folks who find, structure and manage the transaction and renovation process (who may or may not...
by Meg77
Mon Jul 23, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Am I putting too much into retirement?
Replies: 17
Views: 2990

Re: Am I putting too much into retirement?

You can't have "too much" in retirement accounts, but you can certainly have "too little" in liquidity/accessible savings. I would transfer as much as you can each year into the tax-advantaged accounts for now, but given your career field and age I think it makes sense to keep 2 years expenses or $1...
by Meg77
Mon Jul 23, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate partnership
Replies: 14
Views: 1015

Re: Real estate partnership

I would consult a real estate attorney who can probably tell you if there are standard deal terms in partnerships like this in your area. I do think it's fairly common to simply open an LLC, split ownership 50/50, and split profits 50/50 as well. Of course you can set up the profit sharing any way y...
by Meg77
Thu Jul 19, 2018 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Another mortgage payoff question
Replies: 3
Views: 600

Re: Another mortgage payoff question

You aren't getting any tax benefit from keeping the mortgage, because you don't have enough deductions to itemize. So your effective mortgage rate is the same as the stated interest rate: 4%. If the excess funds are sitting in cash I would probably just pay off the loan. If they are already invested...
by Meg77
Wed Jul 18, 2018 11:22 am
Forum: Investing - Theory, News & General
Topic: Direct Real Estate Returns
Replies: 363
Views: 16170

Re: Direct Real Estate Returns

I've got 7 rental units and sold 3 last year. Some have done better than others (and it's impossible to predict exact returns due to unknowns like having to spend $30K on a property you paid $130K for to re-pipe the plumbing under the house). However in general I've calculated that if I buy a retail...
by Meg77
Tue Jul 17, 2018 4:29 pm
Forum: Investing - Help with Personal Investments
Topic: 28 years old and Accumulating
Replies: 13
Views: 1695

Re: 28 years old and Accumulating

You're doing amazingly well! 1. I agree that you don't need to buy a house at this stage. You want to maintain flexibility to move for a job, plus home ownership will come with lots of expenses you don't need. 2. Yeah, you're really cash heavy, especially given your very low level of expenses. Start...
by Meg77
Tue Jul 17, 2018 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Families - What's your total annual credit card spend?
Replies: 92
Views: 6883

Re: Families - What's your total annual credit card spend?

About $110k (no kids though). Like you, pretty much all expenses go on credit cards except our mortgage and property taxes. I think it's pretty common for annual credit card spend to be fairly synonymous with annual spending - and therefore bound to be high in many cases. You spend $110k a year?!! ...
by Meg77
Tue Jul 17, 2018 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for young colleague please
Replies: 26
Views: 2164

Re: Advice for young colleague please

1. Create an account at Mint or Personal Capital to begin tracking spending and net worth. Of course you can just use Excel too. But seeing progress is hugely motivating. 2. Use emergency fund to pay off the two credit card debts today. Yes it's scary having no savings - but you make enough to rebui...
by Meg77
Tue Jul 17, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: House purchase: pay cash or get mortgage?
Replies: 16
Views: 2398

Re: House purchase: pay cash or get mortgage?

Mortgage banker here. Pay cash! 1. You will save on title fees (lender policies are more expensive than owner policies usually) and lender origination fees in addition to the interest savings. You will also save yourself a huge hassle - I can attest to how burdensome the disclosures and underwriting...
by Meg77
Tue Jul 17, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Families - What's your total annual credit card spend?
Replies: 92
Views: 6883

Re: Families - What's your total annual credit card spend?

About $110k (no kids though). Like you, pretty much all expenses go on credit cards except our mortgage and property taxes. I think it's pretty common for annual credit card spend to be fairly synonymous with annual spending - and therefore bound to be high in many cases. You spend $110k a year?!! ...
by Meg77
Tue Jul 17, 2018 10:59 am
Forum: Investing - Theory, News & General
Topic: Why is leveraging property good but leveraging stocks bad?
Replies: 206
Views: 15041

Re: Why is leveraging property good but leveraging stocks bad?

I'm a private banker, and I find this discussion very thought provoking. In my view, it is not the thing or investment being purchased that makes leverage "good" or "bad" - or more advantageous or more risky. It's the loan structure. If the only way to borrow to buy a home was on a high interest rat...
by Meg77
Mon Jul 16, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Families - What's your total annual credit card spend?
Replies: 92
Views: 6883

Re: Families - What's your total annual credit card spend?

About $110k (no kids though). Like you, pretty much all expenses go on credit cards except our mortgage and property taxes. I think it's pretty common for annual credit card spend to be fairly synonymous with annual spending - and therefore bound to be high in many cases.
by Meg77
Mon Jul 16, 2018 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: What's your *real* asset allocation?
Replies: 30
Views: 3163

Re: What's your *real* asset allocation?

I guess I don't understand this definition of "liquid" then. Liquidity is the ability to quickly buy or sell an asset without impacting the asset value. All of my assets are liquid now. In the past, this was not true. But I never included non-liquid assets in my allocation plans. I never counted re...
by Meg77
Fri Jul 06, 2018 4:34 pm
Forum: Personal Consumer Issues
Topic: What time do you get up in the morning?
Replies: 138
Views: 9401

Re: What time do you get up in the morning?

I don't set an alarm but wake up around 7:30am every day (dog, cat and/or husband will wake me up around that time if I'm still sleeping). I walk the dogs first thing which wakes me up. Beyond that my schedule is not set in stone. I will make a latte and take it to the roof to check out the plants i...