Search found 2426 matches

by Meg77
Fri Jan 11, 2019 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a Mortgage when You can Pay Cash for a House
Replies: 162
Views: 8644

Re: Getting a Mortgage when You can Pay Cash for a House

As a banker who does a lot of mortgages, I advise most people in this situation (who are usually in their 50s or older) to pay cash for the house and/or to pay off their mortgages if they have the cash, especially if they are at or near retirement age or have obtained financial freedom (in other wor...
by Meg77
Thu Jan 10, 2019 2:07 pm
Forum: Investing - Theory, News & General
Topic: Should I take $70K LTCG at 0% tax rate or transfer $70K from IRA to Roth @ 12%?
Replies: 21
Views: 1574

Re: Should I take $70K LTCG at 0% tax rate or transfer $70K from IRA to Roth @ 12%?

It's unclear how much you spend, but it sounds like you don't need any IRA distributions to live off. If you leave the IRA alone and it grows at 5% a year for 9 years, you'll have around $1.55MM when you are 70.5 and have to start taking RMDs. Based on today's calculators, that means your RMD will ...
by Meg77
Thu Jan 10, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Home Addition Financing
Replies: 16
Views: 1193

Re: Home Addition Financing

Banker here. Just get a home improvement loan! They are like a hybrid of a home equity and a construction loan. You don't have to roll it into your mortgage at the end of the construction - it can just remain a fully amortizing second lien. A lot of lenders won't do them if they don't also hold the...
by Meg77
Tue Jan 08, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Home Addition Financing
Replies: 16
Views: 1193

Re: Home Addition Financing

Banker here. Just get a home improvement loan! They are like a hybrid of a home equity and a construction loan. You don't have to roll it into your mortgage at the end of the construction - it can just remain a fully amortizing second lien. A lot of lenders won't do them if they don't also hold the ...
by Meg77
Tue Jan 08, 2019 4:55 pm
Forum: Personal Consumer Issues
Topic: Recommendations for a 9mm handgun
Replies: 171
Views: 12647

Re: Recommendations for a 9mm handgun

[OT comment removed - moderator prudent] My brother is a police officer and they use sig sauer .40 cals. Not sure of the model but my small wife who had never shot a gun was able to fire it pretty comfortably after a short learning curve. He has another sig .40 cal for concealed carry of a differen...
by Meg77
Tue Jan 08, 2019 4:24 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

I happen to be very much a "car guy" but don't place any value on status. I will be replacing my 2007 Subaru Outback next fall. The two cars on the top of my list were the Volvo XC-60 T-5 Inscription and the BMW X-3. However that all changed when Mazda announced recently that the CX-5 in Signature ...
by Meg77
Tue Jan 08, 2019 4:11 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

Meg, After reading through three pages of postings I'd have to say that the very first reply you got was just about the best. Car manufacturers do a major model upgrade about every 5-8 years. It just so happens that Volvo did its most recent redesign in 2018, and they absolutely hit the ball out of...
by Meg77
Tue Jan 08, 2019 3:46 pm
Forum: Investing - Theory, News & General
Topic: Should I take $70K LTCG at 0% tax rate or transfer $70K from IRA to Roth @ 12%?
Replies: 21
Views: 1574

Re: Should I take $70K LTCG at 0% tax rate or transfer $70K from IRA to Roth @ 12%?

It's unclear how much you spend, but it sounds like you don't need any IRA distributions to live off. If you leave the IRA alone and it grows at 5% a year for 9 years, you'll have around $1.55MM when you are 70.5 and have to start taking RMDs. Based on today's calculators, that means your RMD will b...
by Meg77
Sat Jan 05, 2019 4:01 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

Toyota RAV4 has all the safety features nowadays of Volvo, Subaru, et al. But you would be making a statement with the RAV4. The bumper sticker on my RAV4 makes the following statement: https://goo.gl/images/CvtfCY Lol :D And what a statement it is. LOL! Is this real? I've never had a bumper sticke...
by Meg77
Fri Jan 04, 2019 3:09 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

The OP mentioned status/image several times in her post and we're still talking about Mazdas, Fords, RAV4s and CR-Vs? I think we're wasting time and bandwidth talking about anything that isn't Euro/Tesla at this point. :happy She also had a budget of $30-$35k, eliminating any new status CSUV. Seems...
by Meg77
Fri Jan 04, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: What Do You Spend The Most On Annually?
Replies: 158
Views: 8247

Re: What Do You Spend The Most On Annually?

What percentage of your income do you spend on these categories? How much do you analyze this and your budget annually? 1. Housing (Rent/Mortgage, Utilities, Improvement, Maintenance) 22% 2. Food & Drink (Restaurants, Groceries, Cookware) 8% 3. Transportation (Insurance, registration, fuel, mainten...
by Meg77
Fri Jan 04, 2019 2:54 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

The OP mentioned status/image several times in her post and we're still talking about Mazdas, Fords, RAV4s and CR-Vs? I think we're wasting time and bandwidth talking about anything that isn't Euro/Tesla at this point. :happy She also had a budget of $30-$35k, eliminating any new status CSUV. Seems...
by Meg77
Fri Jan 04, 2019 12:39 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

I want to focus on one specific point that Meg77 made... I have two medium sized dogs with a remaining life expectancy of 4-5 years, and I like to be able to haul them safely in their crates for vet visits and said road trip. Also, we buy plants a few times a year and it's nice to have a larger aut...
by Meg77
Fri Jan 04, 2019 12:33 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

I’d get a Sumitomo HTR A/S P02. In fact, get 4 of them since it’s a tire. Not knowing the exact specs on your car, I looked up 18 inch tires for your XC60 (they were also made with 17s and 19s) on Tire Rack, picked the Best Seller and you can get 4 shipped for $450. Add another $100 for installatio...
by Meg77
Fri Jan 04, 2019 12:09 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

In view of your statement that your budget is flexible, and as you candidly acknowledge the role status and prestige play in what you drive, perhaps consider a Porsche Macan (available in a range of trim levels and corresponding price points) or a Mercedes GLC AMG 43 or 63. Both are relatively comp...
by Meg77
Thu Jan 03, 2019 4:52 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Re: Which Compact SUV Should I Buy?

If you like your Volvo the new XC60 is a stunning upgrade from your generation, although it's a bit more than you were looking to spend, and there aren't too many on the used market yet. I would start with driving one of those and see what you think. Perhaps you'd be inclined to wait another year o...
by Meg77
Thu Jan 03, 2019 3:46 pm
Forum: Personal Consumer Issues
Topic: Which Compact SUV Should I Buy?
Replies: 177
Views: 9276

Which Compact SUV Should I Buy?

I've been impressed with the auto knowledge and advice I've seen on this forum, so I'm hoping for some guidance. I have been thinking of upgrading my 2011 Volvo XC60 for a while now for pretty much no good reason (namely: I've had it for nearly 7 years, it is worth about 5% of my annual pay, and it ...
by Meg77
Thu Jan 03, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Our financial situation
Replies: 18
Views: 2460

Re: Our financial situation

A few thoughts: 1. How much life insurance does your husband get through his employer? It is probably not enough, and you may want to look into a 10 or 15 year level term policy on him for $1,000,000 or so. You'd be up a creek if he died tomorrow unless you have a high income earning potential you j...
by Meg77
Thu Jan 03, 2019 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Opinions sought $3.5 M Net Worth
Replies: 76
Views: 8910

Re: Opinions sought $3.5 M Net Worth

Sorry for the confusion. Net worth now $3.5M with $500k of that in my house. I am not including the trust money in my net worth. Assuming you keep your house, you have $3.8 million in savings and investments you could live off. A basic back of the envelope calculation using the 4% rule means that p...
by Meg77
Thu Jan 03, 2019 11:39 am
Forum: Personal Consumer Issues
Topic: What Sudden Needs of Cash Do You Prepare For?
Replies: 64
Views: 3601

Re: What Sudden Needs of Cash Do You Prepare For?

We don't have kids and save about 40% of gross income, so over the last few years we've actually decreased our cash reserves since we can cash flow most unexpected cash needs. I try to keep $50k since that's the minimum required for some of the real estate syndications we like to invest in which pop...
by Meg77
Thu Jan 03, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Time to Sell Rental Property?
Replies: 26
Views: 1657

Re: Time to Sell Rental Property?

I've got a rental that sounds about like yours. Net cash flow of about $200 a month (which isn't much considering it's a $325k property), a relatively low maintenance condo, has appreciated a lot since I bought it in 2012 for $245k. Like you, I debate whether I should sell it every time I face a vac...
by Meg77
Fri Dec 14, 2018 3:03 pm
Forum: Investing - Help with Personal Investments
Topic: Am I Investing Too Much?
Replies: 18
Views: 2008

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: 442

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: 26
Views: 2522

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: 2040

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: 1030

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: 2040

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: 2021

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: 1427

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: 3919

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: 2205

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: 1577

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: 421

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: 1347

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: 3198

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: 114
Views: 14169

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: 114
Views: 14169

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: 12040

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: 1374

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: 6772

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: 2738

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: 9438

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: 2515

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: 18622

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: 1536

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: 1698

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: 1698

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: 1698

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: 2063

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: 1798

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...