Search found 35 matches

by MickMal
Sun Dec 08, 2019 12:25 am
Forum: Personal Finance (Not Investing)
Topic: Where to hold cash/emergency fund money?
Replies: 23
Views: 3224

Re: Where to hold cash/emergency fund money?

Thank you all for the advice. I am going to check out the HSBC Direct account. As you said, why give up .25% as I already have a decent balance in the CIT Bank and the money will be sitting there just in case I need access to cash.
by MickMal
Sat Dec 07, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Where to hold cash/emergency fund money?
Replies: 23
Views: 3224

Where to hold cash/emergency fund money?

I apologize as this is probably a repetitive question but I’m planning for the new year and wondering if there is a better option on where to hold cash? Currently I have a CIT Bank savings account earning 1.80% and I’m planning to build up (automatically contributing funds every month) my cash reser...
by MickMal
Tue Aug 06, 2019 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone used AimLoan or Watermark Financial to Refinance?
Replies: 3
Views: 470

Anyone used AimLoan or Watermark Financial to Refinance?

I live in California and have a 30 year fixed mortgage at 3.50% (Wells Fargo) and considering refinancing to a 15 year fixed. I shopped all of the big banks who offered rates above 3.00% on the 15 year and found AimLoan and Watermark Home Loans who are offering rates as low as 2.50% (with points) on...
by MickMal
Thu Jun 27, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: I need to do a will...anyone have recommendations/advice?
Replies: 21
Views: 1614

Re: I need to do a will...anyone have recommendations/advice?

We do not have a complicated situation and are each other's beneficiaries on all accounts. The home is jointly owned with right of survivorship. Our concern is should something happen to both of us together that we currently have no will in place. Maybe I am naive but thought if we just wanted to li...
by MickMal
Thu Jun 27, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: I need to do a will...anyone have recommendations/advice?
Replies: 21
Views: 1614

I need to do a will...anyone have recommendations/advice?

My wife and I are in our mid 40's (no children) and need to do a will. Our estate is not complex (own a home, 401k, IRA's, bank and brokerage accounts) with no other debt besides the mortgage. We don't want to spend a lot on an attorney and thinking an online company (i.e. legalzoom) or software may...
by MickMal
Mon Jun 17, 2019 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

We are going to stick with the 30 year and payoff much sooner. As for the million dollar house, it's a beautiful 930 sq. foot home but its the high prices of LA estate in an ideal area that Jack's up the value. We are planning to stay put in the house until retiring in 16 years it so.
by MickMal
Mon Jun 17, 2019 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

No, I am not stuck on one lender and have checked with quite a few banks. If you know of an reputable institution offering a lower rate, I would be grateful.
by MickMal
Mon Jun 17, 2019 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Maybe it was not meant to be, rates went up today and the 10 yr. fixed is now 3.487%. Looks like we will keep the 30 year and pay it off as quick as we can (peace of mind is worth it to us). Many thanks to all for the feedback.
by MickMal
Mon Jun 17, 2019 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

We will decide what to do over the next few days and appreciate all of the feedback and advice.
by MickMal
Sun Jun 16, 2019 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Yep - we are on the fence on what to do and agree there is value in flexibility.
by MickMal
Sun Jun 16, 2019 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Sorry I misunderstood on the 7/1 ARM but would still be concerned if our situation changed (i.e. job loss) and interest rates are considerable higher after the 7 year fixed period ended. Still thinking it over as 3.5% on a 30 year fixed is a great rate but every dollar saved is always helpful.
by MickMal
Sun Jun 16, 2019 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Thanks all. Even though we plan to pay off our mortgage in less than 10 years, we still want some breathing room and not interested in a shorter term loan. Spoke with a trusted CPA who reviewed our situation and stated “that of the $21,459 mortgage interest paid in 2018, it appears only $8,679 provi...
by MickMal
Sun Jun 16, 2019 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Thanks...my numbers match and I subtracted $3,000 for the loan fees so it was a savings of around $8,000 over 10 years. I’m considering it since even if we pay it off in 5 years we still would save $4,000. Only downside to consider is that we are locked into the higher payment than if we kept the 30...
by MickMal
Sun Jun 16, 2019 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Re: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Sorry...I meant to include the current mortgage rate which is 3.50% on a 30 year fixed. Thanks.
by MickMal
Sun Jun 16, 2019 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage
Replies: 39
Views: 2656

Need advice - refinancing from 30 yr. to 10 yr. fixed mortgage

Considering making a change to our mortgage and would appreciate feedback from fellow Bogleheads... My wife and I are in our mid 40s and owe $353k on a 30 year fixed mortgage we took out in 2012 to purchase our single family home in Los Angeles. Original loan amount was $417k and we decided to speed...
by MickMal
Mon Apr 29, 2019 3:49 pm
Forum: Non-US Investing
Topic: Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?
Replies: 14
Views: 1576

Re: Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?

Thanks, I appreciate your advice. We are heading to
Ireland in three weeks to visit family and I will ask a friend there who is an accountant.
by MickMal
Mon Apr 29, 2019 8:53 am
Forum: Non-US Investing
Topic: Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?
Replies: 14
Views: 1576

Re: Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?

Thanks for the reply. They don’t make this easy and we will continue saving/investing and keep an eye out for any changes in the tax laws over the next decade.
by MickMal
Fri Apr 26, 2019 11:54 am
Forum: Non-US Investing
Topic: Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?
Replies: 14
Views: 1576

Anyone familiar with Irish/US tax law for dual Irish/American citizen couple retiring in Ireland?

My wife and I are in our mid 40's and planning to retire in approximately 15-17 years to Ireland where she is from. Both of us are dual American and Irish citizens and while it is still some time away, we are reviewing our retirement plan to figure out projected income and after researching online h...
by MickMal
Mon Mar 18, 2019 3:37 pm
Forum: Personal Investments
Topic: Mutual Funds or ETF for Investment Account & IRA Roth contribution question
Replies: 3
Views: 228

Re: Mutual Funds or ETF for Investment Account & IRA Roth contribution question

Thank you, sir.

Mutual funds it will be for the investment account and I thought I was out of luck with the Roth contribution but wanted to be certain.
by MickMal
Mon Mar 18, 2019 3:23 pm
Forum: Personal Investments
Topic: Mutual Funds or ETF for Investment Account & IRA Roth contribution question
Replies: 3
Views: 228

Mutual Funds or ETF for Investment Account & IRA Roth contribution question

I hope it is ok that I post two questions together and if not, I apologize and will not do so in the future. First question- I am opening an investment (taxable/non-retirement) account with Vanguard where I plan to invest in Vanguard index funds. I will set up an auto-investment which will debit my ...
by MickMal
Fri Mar 15, 2019 3:37 pm
Forum: Personal Investments
Topic: Help with Deferred Compensation Account Asset Allocation
Replies: 10
Views: 673

Re: Help with Deferred Compensation Account Asset Allocation

You bring up good points especially about the potential higher taxes when I retire. Since this is only my first year contributing to the Deferred Comp Plan, I will consider lowering the contribution and instead adding it to a taxable account, paying the taxes now so I can pay capital gains later on ...
by MickMal
Fri Mar 15, 2019 2:49 pm
Forum: Personal Investments
Topic: Help with Deferred Compensation Account Asset Allocation
Replies: 10
Views: 673

Re: Help with Deferred Compensation Account Asset Allocation

Thanks and before deciding to contribute to the deferred comp plan, I considered potential events that could trigger a lump sum payment. I am fortunate that I have spent 10+ fulfilling years working for my employer and have no plans to leave (even for more money). Also, several years ago the company...
by MickMal
Fri Mar 15, 2019 1:37 pm
Forum: Personal Investments
Topic: Help with Deferred Compensation Account Asset Allocation
Replies: 10
Views: 673

Re: Help with Deferred Compensation Account Asset Allocation

I am contributing so much to the deferred comp plan because I like the benefit of conveniently being able to save more for retirement with the money taken out before I receive my paycheck as well as deferring the taxes. After the deferred comp and 401k contributions, I am not in a high tax bracket a...
by MickMal
Fri Mar 15, 2019 12:45 pm
Forum: Personal Investments
Topic: Help with Deferred Compensation Account Asset Allocation
Replies: 10
Views: 673

Re: Help with Deferred Compensation Account Asset Allocation

I appreciate the advice and glad to hear the plan paid off for you. With many of the international funds not performing well, it may make sense to allocate a small portion of the portfolio to it. If I am able to maintain the same or similar dollar amount contribution to the Deferred Comp account ove...
by MickMal
Fri Mar 15, 2019 11:45 am
Forum: Personal Investments
Topic: Help with Deferred Compensation Account Asset Allocation
Replies: 10
Views: 673

Help with Deferred Compensation Account Asset Allocation

After reading “The Bogleheads’ Guide to the Three Fund Portfolio” and “The Simple Path to Wealth”, I have been re-evaluating my portfolio and recently posted on the forum asking for advice on consolidating my IRA into my 401k. After input from helpful Bogleheads and consideration, I transitioned the...
by MickMal
Thu Mar 14, 2019 10:46 am
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Thanks...after thinking about it some more, when combining the IRA with the 401k, I will transition completely to the Vanguard Target 2045 Fund. It will definitely simplify things, offer diversification and adjust the portfolio as the retirement date approaches. With the deferred comp account for th...
by MickMal
Wed Mar 13, 2019 11:44 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Another thought....when rolling over the IRA ($97k in Vanguard S&P 500 Index fund) into my 401k, would it make sense to consider completely funding the 401k with the Vanguard 2045 Target Fund and then for the deferred comp account completely funding it with the Fidelity VIP 500 index? For the deferr...
by MickMal
Wed Mar 13, 2019 5:36 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Thank you both. I plan to move forward with the 70% Target Fund 2045/30% (Total Stock Market index) allocation and consolidate my IRA account into the 401k. I am still putting some thought into the asset allocation for the deferred comp account but heading in the right direction in streamlining/simp...
by MickMal
Wed Mar 13, 2019 5:00 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Good suggestion - thank you.. As mhadden1 suggested, I may transfer the balance of my IRA (Vanguard 500 Index Fund) to my 401k to have it all in one place. From there I like your suggestion to allocate 70% of my contribution to the Target Date 2045 fund and 30% to either the Vanguard Institutional I...
by MickMal
Wed Mar 13, 2019 4:20 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

I only started contributing to the deferred compensation account last month. Currently, the allocation for that contribution is: Fidelity VIP Index 500 - Initial Class Large Cap Blend 55% 2019 T. Rowe Price Blue Chip Growth Large Cap Growth 35% 2019 Dreyfus IP Small Cap Stock Index - Service Shares ...
by MickMal
Wed Mar 13, 2019 3:00 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Thank you. For simplicity, I like the idea of the target fund but wanted to keep the international allocation under 25% and the 2045 target fund invests nearly 36% in the Total International Stock Index. Still trying to decide whether I should split between the 3 funds (listed below) or select the t...
by MickMal
Wed Mar 13, 2019 1:59 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Re: Need advice for selecting Vanguard Funds in 401k

Thank you for the advice. The Vanguard Target Retirement 2045 Fund (Net Expense Ratio is 0.08%) is comprised of the following funds: Vanguard Total Stock Mkt Idx Instl Pls .............. 54.10% Vanguard Total Intl Stock Index ........................ 35.85% Vanguard Total Bond Market II Index .........
by MickMal
Wed Mar 13, 2019 1:01 pm
Forum: Personal Investments
Topic: Need advice for selecting Vanguard Funds in 401k
Replies: 16
Views: 1034

Need advice for selecting Vanguard Funds in 401k

I a new forum member and recently read the Bogleheads' Guide to Three-Fund Portfolio which I thought was extremely helpful. I am 43 years old hoping to work for another 20 years and making changes to my 401k selections. I have the option to choose a Vanguard Retirement Target Fund or selecting a spl...