Search found 87 matches

by averagelonghorn
Wed Aug 05, 2020 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: best way to get pre qualified for a home mortage
Replies: 15
Views: 874

Re: best way to get pre qualified for a home mortage

What is your reason for getting "pre-qualified"? The reason I'm asking is that there might be value in getting "pre-approved" instead. RM I'm still confused on what the difference is. If I get prequalified, I basically have to go back and get preapproved right before I close on a home, correct? I t...
by averagelonghorn
Wed Aug 05, 2020 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: best way to get pre qualified for a home mortage
Replies: 15
Views: 874

Re: best way to get pre qualified for a home mortage

Great know. Thanks. I should say I’m looking in Seattle area (bothell Area to be more exact) And what I’m finding on Zillow and Redfin is listings being sold sometimes with a few days to a week or so so the market around here is hot. I just went through the prequalifcation process with better.com b...
by averagelonghorn
Wed Aug 05, 2020 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: best way to get pre qualified for a home mortage
Replies: 15
Views: 874

Re: best way to get pre qualified for a home mortage

There are real estate markets where sellers are sensitive to the difference between pre-qualified and pre-approved. There are markets where it doesn't make a huge difference. There are markets where a pre-approval isn't possible without an exact address. Given your general details, a pre-qualificati...
by averagelonghorn
Wed Aug 05, 2020 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Interest Only Non Recourse Mortgage
Replies: 10
Views: 830

Re: Interest Only Non Recourse Mortgage

You would lose your down payment and the chance to get another mortgage for several years. AND you'd probably run into trouble renting, too for several years. And where you can rent will want higher security deposits and probably more advanced rent; and probably won't be as nice as places you can q...
by averagelonghorn
Thu Jul 30, 2020 12:54 pm
Forum: Personal Investments
Topic: Asset Allocation - Include Future Pension Payout?
Replies: 8
Views: 502

Re: Asset Allocation - Include Future Pension Payout?

I count my (fairly small) cash value plan pension from a Megacorp I left years ago as part of the fixed income in my AA. I could cash it out for a lump sum at any time, so I can logon to netbenefits and see that current value, which is what I use for the value. I'll make a decision on lump sum vs an...
by averagelonghorn
Mon Jul 27, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Buyer using Seller's Agent to Lower Fees - Questions
Replies: 18
Views: 1384

Re: Buyer using Seller's Agent to Lower Fees - Questions

This is in Colorado. Apparently there are two types of relationships: Agency, where the broker can only represent one party, and has a fiduciary duty. The other is called a Transaction Broker. The Transaction broker is NOT allowed to provided fiduciary duties to either party when representing both ...
by averagelonghorn
Mon Jul 27, 2020 1:57 am
Forum: Personal Investments
Topic: A good problem to have - what to do after maxing retirement and e fund
Replies: 13
Views: 1117

Re: A good problem to have - what to do after maxing retirement and e fund

Oh re-reading prior posts, someone else mentioned Mega Backdoor Roth; and you already mentioned you weren't sure and would ask. Be aware, that isn't really an official term. The key things to know are: Does your 401(k) plan allow for "after tax contributions?" AND (very much AND) your plan allows fo...
by averagelonghorn
Mon Jul 27, 2020 1:44 am
Forum: Personal Investments
Topic: A good problem to have - what to do after maxing retirement and e fund
Replies: 13
Views: 1117

Re: A good problem to have - what to do after maxing retirement and e fund

Excellent start maxing both 401(k) and Roth. (Beware of income limits on Roth, you likely need to read up on Backdoor Roth. For further Tax Advantaged possibilities: (Look into these in the Wiki and past forum posts) HSA (If you have a High Deductible Health Plan available.... young (and presumably ...
by averagelonghorn
Mon Jul 27, 2020 12:27 am
Forum: Personal Investments
Topic: 23 Year Old / First Job / Trying to get finances in order
Replies: 23
Views: 1476

Re: 23 Year Old / First Job / Trying to get finances in order

First off, good for you getting into the habit of saving and investing right away. Regardless of exact investments or even which vehicles (401k, IRA (Roth or Trad), or Taxable, just getting into the habit right away is a very good thing and will serve you well. Promise yourself (and then carry throu...
by averagelonghorn
Sat Jul 25, 2020 12:51 am
Forum: Personal Investments
Topic: 81 yr old -need simple investment strategy
Replies: 56
Views: 5769

Re: 81 yr old -need simple investment strategy

...This is a woman who has never made over minimum wage in her life, raised her family w/not a dime of support from ex-husband, but has been extremely careful and frugal. She would run from any insurance/annuity agent that came her way. I’m still shocked she invested with Schwab in these ETFs with ...
by averagelonghorn
Thu Jul 23, 2020 2:14 pm
Forum: Personal Investments
Topic: Best Solo 401k Now With The Mergers
Replies: 12
Views: 622

Re: Best Solo 401k Now With The Mergers

I have a similar earnings profile as your wife, OP. I have used E*Trade Solo 401(k) for a few years; I contribute nearly all my income. My understanding is: One must elect how much of employee earnings to contribute by the end of the year. (In otherwords, your spouse (as employee) must inform hersel...
by averagelonghorn
Mon Jul 20, 2020 12:47 am
Forum: Personal Investments
Topic: Asset Allocation for short term?
Replies: 10
Views: 760

Re: Asset Allocation for short term?

Oh, and as someone who never had to plan for college expenses, I'm woefully unqualified to opine on those too much; and it is extremely variable; but those; I'd do something like 60/40.
by averagelonghorn
Mon Jul 20, 2020 12:44 am
Forum: Personal Investments
Topic: Asset Allocation for short term?
Replies: 10
Views: 760

Re: Asset Allocation for short term?

To me a big question is, how sure is the expense? If you know for sure you need $x.xx in 5 years, it belongs in fixed income. If instead it is just a "nice to have," no problem having some or most in riskier investments..... I used to use a short, medium, long mental accounting system for us; Short ...
by averagelonghorn
Mon Jul 20, 2020 12:17 am
Forum: Personal Investments
Topic: Why make a written financial plan?
Replies: 39
Views: 2421

Re: Why make a written financial plan?

I have yet to actually write it down, but that is entirely a laziness thing. I have wavered in exact execution, but have been a buy and hold; low cost, index investor since something like 1998. I'm lazy; don't always write plans down; but writing things down does, I believe, help you clarify your ow...
by averagelonghorn
Sun Jul 19, 2020 11:52 pm
Forum: Personal Investments
Topic: Re-balancing via future contributions
Replies: 12
Views: 884

Re: Re-balancing via future contributions

Longer response below, but my much shorter (TLDR) version is: it depends, but probably either approach is close enough. Longwinded response: We find it fairly easy to redirect allocations to the area of AA that is low; Our intention has been that we would rebalance if our AA gets out of alignment by...
by averagelonghorn
Tue Jul 14, 2020 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Helping our Adult Child Buy a Home
Replies: 72
Views: 5626

Re: Helping our Adult Child Buy a Home

Seems like piling on at this point, but my advice is as follows: A gift to help with the down payment is nice and will be appreciated, I'm (fairly) sure. Further entanglements are not a good idea. When I was engaged, my father sold the house I was renting from him to my then fiancee, now wife. It al...
by averagelonghorn
Sun Jun 21, 2020 4:30 pm
Forum: Personal Investments
Topic: How do I calculate % of allocations across different accounts?
Replies: 36
Views: 1945

Re: How do I calculate % of allocations across different accounts?

I use a spreadsheet (google sheets) for this. There's plenty in it that I have to update manually (some items in wife's 401k have no ticker symbol, for instance, and I have to update amount of shares manually. I do that every couple of months or whenever I have some extra time on my hands. But with ...
by averagelonghorn
Sun Jun 21, 2020 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating price post an old house inspection
Replies: 48
Views: 2956

Re: Negotiating price post an old house inspection

Thanks everyone- lots of good advice! This is not my first house purchase by any means but it is my first rodeo here in the USA To give more context the house was built in 1908 and has lots of great features but has been neglected of late. It came on the market at an initial price that was the pric...
by averagelonghorn
Sun Jun 21, 2020 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Qual letter amount debate; what about with builders?
Replies: 7
Views: 453

Re: Pre-Qual letter amount debate; what about with builders?

In my experience as a Realtor, I think almost any lender will be happy to give you a letter with a pre-qualified amount of your choosing (up to the amount you are truly pre-qualified for.) So start with a lender, find out the max you qualify for, and ask for a couple of letters at different price po...
by averagelonghorn
Sun Jun 21, 2020 12:40 am
Forum: Personal Investments
Topic: Employee Stock Purchase Plan Question
Replies: 14
Views: 921

Re: Employee Stock Purchase Plan Question

I'll admit I'm not nearly as familiar with this structure for an ESPP as I am with the (to me at least) more familiar plans with a discount and preferably a lookback. (Those are usually very much worthwhile.) Not a fan of the 1 year holding period, but since you started over a year ago, you HAD deci...
by averagelonghorn
Wed Jun 17, 2020 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Buying house w/ income "issue"
Replies: 16
Views: 2183

Re: Buying house w/ income "issue"

Question is, can we still do this? I asked a realtor but she is referring me to call a mortgage broker. I don't know if this is typically beyond scope of a realtor's job? I'm kind of reluctant to reach out to conflicting parties since their job is to get me a mortgage regardless of whatever terms a...
by averagelonghorn
Tue Jun 16, 2020 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing default student loans so I can buy a house...
Replies: 18
Views: 1258

Re: Refinancing default student loans so I can buy a house...

Okay, my basics: 36 / $123k base (get ~$5k bonus + RSUs vesting throughout the year) / Central Florida Debts: $33k Federal student loans : $5k 0%, $15k 5%, $13k 6% Car loan : $7k left on a 2011 Honda Pilot which I intend to drive into the ground and keep good care of. Wife's student loans : $5k 0% ...
by averagelonghorn
Wed Jun 10, 2020 2:33 pm
Forum: Personal Investments
Topic: Investing for a Waterfront Home
Replies: 17
Views: 1928

Re: Investing for a Waterfront Home

I'll just say, it's a perfectly reasonable goal. I'd probably put your savings towards that goal in something like a 70/30 portfolio; re-evaluate in about 5 years, and then start moving allocation more conservative as you get closer to deciding. In the meantime, take at least a long weekend to a bun...
by averagelonghorn
Mon Jun 08, 2020 2:33 pm
Forum: Personal Investments
Topic: Can someone explain to me how bonds could possibly be used for any sort of significant income or gains?
Replies: 50
Views: 3620

Re: Can someone explain to me how bonds could possibly be used for any sort of significant income or gains?

02nz wrote:
Mon Jun 08, 2020 11:42 am
Think of bonds and stocks as different roles on a team - just because the goalkeeper never scores a point, doesn't mean you'll do just fine without the goalkeeper.
I LOVE that analogy!
by averagelonghorn
Fri May 29, 2020 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or rent $2m house?
Replies: 52
Views: 4120

Re: Sell or rent $2m house?

As a few of you mentioned, preserving the option to move back is definitely something we care about -- we're emotionally attached to this house, and we love California. I mentioned one of the only reasons I would consider renting it out was if you were planning on moving back soon. BUT: Being emoti...
by averagelonghorn
Fri May 29, 2020 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or rent $2m house?
Replies: 52
Views: 4120

Re: Sell or rent $2m house?

I have a large portfolio, no debts, and I don't need to sell the house to buy another one. I'm tempted to sell it mostly because I don't want to keep filing taxes in the US after I'm gone, worrying about a massive earthquake, and generally having to deal with all the small but annoying issues most ...
by averagelonghorn
Fri May 29, 2020 8:23 pm
Forum: Personal Investments
Topic: Pension: Lump Sum vs. Annuity
Replies: 20
Views: 1575

Re: Pension: Lump Sum vs. Annuity

I will also get a similar amount, but I don't have to decide for 15 years. For now my plan is to take Joint 100% and just figure it will put a little food on the table. I count the current cash value as part of my fixed income allocation. But as I said, I have 15 years to decide (just turned 50, hav...
by averagelonghorn
Wed May 20, 2020 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Comparison Amortization Calculator
Replies: 9
Views: 750

Re: Mortgage Comparison Amortization Calculator

I like this one for comparing 2 loans. https://www.hughcalc.org/loancomp.cgi Ha! You're the only other person I've ever seen cite Hugh's site. I've been using his calculators since 1997. :D That's funny. There's a very large chance I learned about it from you.... I had seen it last year sometime in...
by averagelonghorn
Thu May 07, 2020 11:46 am
Forum: Personal Finance (Not Investing)
Topic: How to negotiate severance if laid off?
Replies: 75
Views: 6261

Re: How to negotiate severance if laid off?

How would you guys rate Airbnb severance? 14 weeks + 1 week/yr and 12mth COBRA. Looks good? https://www.marketwatch.com/story/airbnb-will-give-laid-off-employees-14-weeks-base-pay-but-millions-more-laid-off-workers-are-not-so-lucky-2020-05-06 From what I've seen offered at other places this is very...
by averagelonghorn
Mon May 04, 2020 6:42 pm
Forum: Investing - Theory, News & General
Topic: Who is your all time favorite investor and why?
Replies: 52
Views: 2859

Re: Who is your all time favorite investor and why?

My grandfather because he worked a long time in a rayon plant, breathing harmful chemicals, provided for my grandmother and my father. Helped send my father to college. Then the plant closed; he lost his pension, but was able to eventually find another job at a bank, worked there for years, retired ...
by averagelonghorn
Tue Apr 07, 2020 6:30 pm
Forum: Investing - Theory, News & General
Topic: Reading Balance Sheet
Replies: 23
Views: 1064

Re: Reading Balance Sheet

As others mentioned, probably not the best site to get a very thorough answer to this. BUT, I'll mention, the first investment book I remember reading was lent to me by my dad: Peter Lynch's "One Up on Wall Street" was an entertaining read. He had a chapter on how to read an annual report from a com...
by averagelonghorn
Wed Apr 01, 2020 8:17 pm
Forum: Personal Investments
Topic: Decrease Retirement to increase EF?
Replies: 22
Views: 1382

Re: Decrease Retirement to increase EF?

I see nothing wrong with your plan. In a one income family, I think a higher EF is prudent anyway. Good time to check on if your disability and for that matter life insurance is sufficient. At LEAST keep enough to get full match (assuming you have one), but a slight pullback to increase EF is ok in ...
by averagelonghorn
Fri Mar 27, 2020 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering property taxes
Replies: 6
Views: 761

Re: Lowering property taxes

I have used one for years in Texas. You might shop around a bit; I have for years paid 33% of tax savings. However this year for the first time they are charging an administration fee of $150 regardless of whether they secure a reduction or not. (But if they do, that $150 will be applied to their 33...
by averagelonghorn
Fri Mar 27, 2020 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus Payment
Replies: 3
Views: 1010

Re: Stimulus Payment

I haven't seen a cutoff date in any news reports, but it seems clear that there will be one. I plan to finish my return up this weekend and hopefully that will be soon enough. (Sold a rental property in 2018 that put us over 150k, but last year below that.) I have seen it reported that if I'm not qu...
by averagelonghorn
Thu Mar 19, 2020 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: REFI suggestions
Replies: 1
Views: 220

Re: REFI suggestions

Banker says take out a home equity line of credit to pay off the mortgage @ 1.74%. I can't imagine that rate is for real; but if it is, jump on it as soon as possible! (I have a sub-100k mortgage balance that I'd love to get down from 4.375%, but I'm waiting for a bit until Mortgage brokers are les...
by averagelonghorn
Fri Mar 06, 2020 3:12 am
Forum: Personal Finance (Not Investing)
Topic: Is This a Good or Bad Time to Buy a House?
Replies: 7
Views: 1508

Re: Is This a Good or Bad Time to Buy a House?

I'm a real estate agent, so of course I will say it's a good time to buy a house, it always is. :happy But that's an overarching statement, whether it is a good time for YOU to buy a house, really only you can say. I feel good saying its a good time to get a mortgage, rates are really incredibly low...
by averagelonghorn
Thu Feb 27, 2020 6:28 pm
Forum: Personal Investments
Topic: Laid off as of 7/31! Sell restricted stock now or after April?
Replies: 9
Views: 829

Re: Laid off as of 7/31! Sell restricted stock now or after April?

If you are undecided how to proceed, consider 50% now and 50% later. This was exactly my gut reaction, and PROBABLY what I would do. But that would assume you have a fair amount of savings, and hopefully severance payment coming. The greater your need for the money, the greater the argument for sel...
by averagelonghorn
Mon Feb 24, 2020 4:58 pm
Forum: Personal Investments
Topic: [solo 401(k)] Is there a trick to avoiding the 21-page etrade forms?
Replies: 6
Views: 665

Re: Is there a trick to avoiding the 21-page etrade forms?

Do I just need to have an account with them to get to a quicker/easier process? What did you do that I'm missing, so I can ask them for the easier form. Thanks! I do apologize, I didn't answer your question directly. I did have an account with them, I did NOT get an easier form. I was also stupid e...
by averagelonghorn
Mon Feb 24, 2020 4:48 pm
Forum: Personal Investments
Topic: [solo 401(k)] Is there a trick to avoiding the 21-page etrade forms?
Replies: 6
Views: 665

Re: Is there a trick to avoiding the 21-page etrade forms?

A Solo 401(k) is often an excellent choice for retirement savings. E-Trade has one with some of the most flexible options. More flexibility often = a more complex legal agreement. If reading and understanding 21 pages is unacceptable to you, perhaps a Solo 401(k) with E-Trade is not your best choice...
by averagelonghorn
Sun Feb 23, 2020 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: RSU vs ESPP and E-Trade
Replies: 2
Views: 286

Re: RSU vs ESPP and E-Trade

In a way, both. In reporting capital gains, your forms from Etrade will show the unadjusted basis and gain, so you'll need to adjust the basis. So as far as cap gains go, you'll end up paying on the Adjusted Gain. However, there will also be "ordinary income recognized" that should already be reflec...
by averagelonghorn
Sat Feb 22, 2020 2:18 am
Forum: Personal Investments
Topic: cisco espp?
Replies: 15
Views: 1007

Re: cisco espp?

A good ESPP has a very good return for little risk. It's really like a bonus. If your boss stopped by and told you that you were getting a 3500+ bonus, would you turn it down? Since someone else chimed in with enough details on the CSCO plan, I think these assumptions are correct: 15% discount on lo...
by averagelonghorn
Fri Feb 14, 2020 9:39 am
Forum: Personal Investments
Topic: Need help in evaluating lump sum/pension options for couple friend
Replies: 34
Views: 1128

Re: Need help in evaluating lump sum/pension options for couple friend

One thing I will mention, make sure the modeling tool you are using doesn't make assumptions that are more optimistic than supported by the plan. In my case, I have a cash-balance pension, and Fidelity NetBenefits uses an assumed return of 6% when doing the modeling on a future date of claiming, but...
by averagelonghorn
Tue Feb 11, 2020 3:54 am
Forum: Personal Finance (Not Investing)
Topic: Average duration of securing a home mortgage
Replies: 14
Views: 1141

Re: Average duration of securing a home mortgage

A few thoughts. My very short opinion is that I'd be a bit skeptical of this offer as is; a counter offer could be productive or not; but I'd probably figure out better terms to counter with. Some have suggested not even countering, again some markets that's probably the right course of action, othe...
by averagelonghorn
Mon Feb 10, 2020 11:16 am
Forum: Personal Investments
Topic: ESPP Sale - Gain or loss on transaction
Replies: 6
Views: 400

Re: ESPP Sale - Gain or loss on transaction

I left the employer last year and so i dont get W2 for 2020. In this situation for 2020 tax filing, do turbotax can able to do this calculation correctly or I have to take any special care on tax filing om 2020 ? That's a very good question I do not know the answer to. This thread from a TurboTax f...
by averagelonghorn
Mon Feb 10, 2020 10:56 am
Forum: Personal Investments
Topic: ESPP Sale - Gain or loss on transaction
Replies: 6
Views: 400

Re: ESPP Sale - Gain or loss on transaction

And another method to see how much will be reported as income: Again from the Gains and Losses screen.... under the column "Adjusted Cost Basis" click on the question mark next to the number, and it will show you the Ordinary income number (and how it was added to the acquisition cost to get basis.)
by averagelonghorn
Mon Feb 10, 2020 10:49 am
Forum: Personal Investments
Topic: ESPP Sale - Gain or loss on transaction
Replies: 6
Views: 400

Re: ESPP Sale - Gain or loss on transaction

Hi I sold all my ESPP positions on Friday to move to index. When I look on my etrade gain and losses screen, I see the table and in last row with last 2 columns as "Gain/Loss" and "Adjusted Gain/loss" with Total Gain/loss as 3000 Total Adjusted Gain/loss as -386 My selling have mixed of short and l...
by averagelonghorn
Wed Feb 05, 2020 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Home Buying Lender Question
Replies: 5
Views: 467

Re: Home Buying Lender Question

Wow, that is a new one I have never heard, the seller being picky about who the lender will be. I know sellers who have preferred all cash deals, but not one lender over another lender. Live and learn! Does not happen all the time by any means, but as a seller, you care about a few things; one is p...
by averagelonghorn
Wed Feb 05, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Home Buying Lender Question
Replies: 5
Views: 467

Re: Home Buying Lender Question

Oh and by all means, DO shop around.... Shop at the ones you mentioned, and shop at local lenders.... at least talk with several lenders to have a good idea of your options. When it comes time to put in an offer, you can pick the lender that you think gives you the best combination of good rate, clo...
by averagelonghorn
Wed Feb 05, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Home Buying Lender Question
Replies: 5
Views: 467

Re: Home Buying Lender Question

In a seller's market; the perceived strength of the lender (mainly for the seller "strength" means a reputation for closing on time) can for sure be a factor in whether an offer is accepted, mainly in a multiple offer situation. It is just part of the picture, but it can make a difference. For a pur...