Search found 29 matches

by Gibby45
Tue Jun 02, 2020 2:56 am
Forum: Personal Investments
Topic: A question to the real estate investors
Replies: 19
Views: 1441

Re: A question to the real estate investors

How much of a negative monthly cash flow? You could use the (hopefully slightly) negative cash flow along with depreciation to eliminate taxes on other income to a degree - assuming US tax law applies. The paper loss generated can offset income that would have otherwise been taxable at a depending o...
by Gibby45
Mon Apr 20, 2020 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check when taxes overpaid put towards 2020 quarterly.
Replies: 8
Views: 623

Re: Stimulus check when taxes overpaid put towards 2020 quarterly.

My parents are in the same boat. The Washington Post confirmed that this is one of the loopholes that prevents the "Get My Payment" application from working. Entering the would-be refund amount doesn't work and entering a "0" doesn't work. Using 2018 info doesn't work if you've filed your 2019 taxes...
by Gibby45
Mon Mar 30, 2020 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: House Buying Advice - Contract Already Signed
Replies: 39
Views: 3738

Re: House Buying Advice - Contract Already Signed

We love the house, we love the town and need to stay in a confined area so my two daughters don't have to change elementary schools. We moved to this area in October so moving them to another elementary school is unacceptable in our eyes. You love the house, the town and it's in the right area. You...
by Gibby45
Sun Mar 29, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance question
Replies: 3
Views: 290

Re: Mortgage refinance question

Is he currently listed as an owner of the house (or was it solely in his mother's name)? He will need to qualify for the refi on his own merits. Does he currently own a property of his own or have other significant debts that would present a debt to income issue? If so, he could use part of the $80k...
by Gibby45
Tue Mar 17, 2020 12:08 pm
Forum: Investing - Theory, News & General
Topic: Will the F.I.R.E. movement survive?
Replies: 98
Views: 7269

Re: Will the F.I.R.E. movement survive?

There was always going to be a correction. I don't think that effects FIRE for people who were aware of that and factored that into their numbers. It may make some people think twice about their asset allocation - there are a lot of 100% VTSAX/ VTI fans within the FIRE movement. There's nothing wron...
by Gibby45
Sun Mar 15, 2020 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 2613
Views: 209095

Re: Refinance Mega Thread

Curious to see what impact today's slashing of the fed fund rate will have. I was able to lock a 30 year fixed at 3% but walked away in favor of an ARM. Still deciding between a 7/1 at 2.75 or a 10/1 at 2.875.
by Gibby45
Sun Mar 08, 2020 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand why I need uninsured, underinsured motorist liability and medical payments.
Replies: 50
Views: 4031

Re: Help me understand why I need uninsured, underinsured motorist liability and medical payments.

But why do I care? If I tell the ER doc I was injured in a car accident, they're not going to refuse treatment. Financially, how does this affect me if I have health insurance through an employer or Medicare? Hopefully it's never an issue. I have dealt with cases in which the ER bill is sent to col...
by Gibby45
Fri Mar 06, 2020 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand why I need uninsured, underinsured motorist liability and medical payments.
Replies: 50
Views: 4031

Re: Help me understand why I need uninsured, underinsured motorist liability and medical payments.

Get it. If you are hit by an uninsured driver, your liability insurance doesn't cover you. All insurance (except maybe whole life insurance) is insurance you purchase but hope you won't use. You also want your medical treatment to be paid for without explaining to your health insurer that it is due ...
by Gibby45
Thu Mar 05, 2020 11:37 am
Forum: Investing - Theory, News & General
Topic: Coronavirus and the market
Replies: 3985
Views: 302750

Re: Coronavirus and the market

I do not mean to make this political at all. I think we have a few problems here in the US. 1) I do not think the Trump administration will put out (allow the CDC to put out) any information that Trump believes could lead to increased panic. I do not say that to be political, I am being serious. Chi...
by Gibby45
Tue Mar 03, 2020 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: The unicorn mortgage: 30 year fixed under 3%
Replies: 90
Views: 14845

Re: The unicorn mortgage: 30 year fixed under 3%

Just locked a 30 year mortgage at 3.00% (APR 3.09%). Not a jumbo loan. Appraisal waived. No origination/lender fee. I have to pay the title fees and recording fees. Escrow waived. Using Silverton Mortgage. Still doesn't seem real.
by Gibby45
Thu Jul 11, 2019 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans via cash-out refinance?
Replies: 41
Views: 2566

Re: Pay student loans via cash-out refinance?

My vote would be to NOT do the cash out refi. His student loan debt will be gone in about 3 years. That will free up $1,500 which would allow you to double the ammo going to your student loan payments. Day care should go away or drop when the child(ren) start (pre)school. You could likely eliminate ...
by Gibby45
Sun Jun 30, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Relocate to Seattle or NYC
Replies: 132
Views: 8035

Re: Relocate to Seattle or NYC

OP, Have you and your wife visited both locations? Do you have time to visit before making a decision? Do you know anyone in either location or anyone doing your job in either location? WA has no state income tax and you'll be earning more in WA. Where are your respective families located? Is that a...
by Gibby45
Tue Jun 25, 2019 7:57 am
Forum: Personal Finance (Not Investing)
Topic: How did you lower your annual expenses?
Replies: 145
Views: 14768

Re: How did you lower your annual expenses?

1. Now that you've tracked your expenses for a year, analyze whether your spending is in line with your values/happiness. Eliminate the random spending that does bring you any added value. 2. Your big three areas of spending tend to be housing, transportation and food. Write down what your spending ...
by Gibby45
Tue May 21, 2019 11:08 am
Forum: Personal Investments
Topic: Retirement goal seems far away
Replies: 25
Views: 2213

Re: Retirement goal seems far away

Try to put the time in perspective. I don't know if you graduated from high school and/or college, but if you did, think about how quickly that time went. Have little goals that you want to achieve by closer dates to help the time go by. Some of those goals may be financial as in pay off $X amount o...
by Gibby45
Tue May 21, 2019 1:09 am
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 16262

Re: FIRE - What am I missing in the News Stories

The decision to have children is a personal decision that is (or should be) completely separate from FIRE or long-term care planning. I have three siblings and I am the only one who went home to take care of my mom following her surgery. Being able to do that as my parents get older is one of main r...
by Gibby45
Tue Apr 16, 2019 2:28 pm
Forum: Personal Investments
Topic: $1.1 million rental portfolio, but tired of being a landlord
Replies: 87
Views: 11932

Re: $1.1 million rental portfolio, but tired of being a landlord

Your only choices to avoid being a landlord are to sell the properties or delegate the aspects of being a landlord you do not like. I'm not sure what your location is, but look into websites like Roofstock and Bigger Pockets to see if any investors would be interested in a portfolio sale. A few inve...
by Gibby45
Wed Apr 03, 2019 2:56 pm
Forum: Personal Investments
Topic: HELOC versus personal loan
Replies: 18
Views: 810

Re: HELOC versus personal loan

OP, Check local credit unions. Many have intro rates for the first year in the 3% range. 6.75% does not sound like a competitive rate. I would opt for the HELOC which would be tax deductible for your intended purposes. Make sure you have contractors, scope of work, etc. lined up first. It can take u...
by Gibby45
Mon Feb 18, 2019 4:55 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5594

Re: self-directed solo 401 k using Vanguard pooled account, etc.

You are correct in terms of Fido if Fido is just holding the money. I had the same question regarding Vanguard in terms of not wanting a self-directed account down the line. I realized that most of my holdings were VG funds and I wanted to see if I could change to a VG i401k from my pooled account i...
by Gibby45
Mon Feb 18, 2019 4:13 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5594

Re: self-directed solo 401 k using Vanguard pooled account, etc.

I have a self-directed solo 401k and use the VG pooled account. I prefer VG because I already had VG funds prior to the self directed 401k. The things to watch out for are that Fido doesn't have a Roth 401k option within their i401ks (I have found that only VG and E-trade allow for this option) and ...
by Gibby45
Wed Jan 16, 2019 8:11 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 60758

Re: John Bogle is dead at 89

Rest in Peace, Jack. Your vision and dedication made it possible for regular people like me to even attempt to take plan our own retirement. You completely revolutionized the investing landscape and gave the average investor access to unprecedented levels of freedom and savings. Thank you from the b...
by Gibby45
Wed Jan 09, 2019 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity HSA Rollover Form
Replies: 9
Views: 1368

Re: Fidelity HSA Rollover Form

It's under online forms and applications.

https://www.fidelity.com/bin-public/060 ... elity.pdf
by Gibby45
Mon Jan 07, 2019 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Are we at "Peak FI"?
Replies: 93
Views: 10750

Re: Are we at "Peak FI"?

I am one of the people who plans to be able to retire early. I think we are at "Peak FI" only in the sense that the term is now semi well-known. Many of us young Gen X-ers/Xennials/old Millennials remember seeing our parents lose pensions, we have always heard that Soc. Sec. would run out, we rememb...
by Gibby45
Sat Dec 29, 2018 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to understand my wife's dental school loans
Replies: 26
Views: 2665

Re: Trying to understand my wife's dental school loans

Your situation isn’t dire and you’re in the right place. My advice is to: 1) run your wife’s free annual credit report(s). This will show who holds all of her loans and whether anything has been reported as 30+ days past due; 2) live on 75% of one of one income starting now;* 3) You have 2 real opti...
by Gibby45
Mon Nov 19, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: sell rental condo 6 miles from Crystal City, VA Amazon location?
Replies: 36
Views: 4114

Re: sell rental condo 6 miles from Crystal City, VA Amazon location?

I would keep it. The cash flow plus the depreciation plus potential appreciation means that it isn't (currently) costing you money. It's a condo so you shouldn't have to worry about much in terms of maintenance. You have interested renters. If they pass your background check(s) I would rent it out. ...
by Gibby45
Thu Nov 15, 2018 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 127
Views: 14199

Re: How Long / Hard To Become a Millionaire on Under $100k Income

You can absolutely do it. The degree of difficulty depends on your expenses and market returns. You basically get there by maxing out your IRA and 401k from your first real job through age 40. Housing can be 'solved' to a certain degree if you either live in a smaller place, or live in a bigger plac...
by Gibby45
Thu Nov 08, 2018 12:15 am
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8870

Re: 1/3 of Baby Boomers have no retirement savings...

Articles like this are a bit misleading. It only counts money in dedicated retirement accounts. I know now from helping my parents navigate retirement that most Baby Boomers started working at a young age and most of them started working before 401ks and Roth IRAs even existed. If you were lucky, yo...
by Gibby45
Wed Nov 07, 2018 9:34 pm
Forum: Personal Investments
Topic: Payoff Mortgage
Replies: 12
Views: 1684

Re: Payoff Mortgage

Does the 1M in non-retirement assets include the rental properties and the $500k cash? What is the interest rate on the primary residence? Are you definitely sold on paying off the mortgage? I would be very hesitant to pull money out of a Roth account to pay off a mortgage. That money would continue...
by Gibby45
Wed Nov 07, 2018 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 12802

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

Plan for the worst. Paid off homes still need to be maintained. Real estate taxes can go up, natural disasters can strike (and require large deductible payments), kids or parents can get sick, you can get sick, etc. Try to figure out a realistic worst-case scenario and work backwards from there. You...
by Gibby45
Sun Nov 04, 2018 11:54 am
Forum: Investing - Theory, News & General
Topic: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]
Replies: 74
Views: 9339

Re: [WSJ: The New Retirement Plan: Save Almost Everything, Spend Virtually Nothing]

Full disclosure - I am the Seattle attorney mentioned in the article. I’ve been a long-time BH lurker and have attended several local BH meet ups. This forum has helped me assist my parents with their retirement (or lack thereof) and helped me to achieve a cost and tax efficient portfolio. Taylor, M...