Search found 40 matches

by flyfishers83
Fri Nov 20, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Student Loans before buying a house? [Help prioritizing finances]
Replies: 29
Views: 919

Re: Refinance Student Loans before buying a house?

Correct. The advantage is saving state income tax. Not a huge amount of money, but if you could take advantage, probably enough to make worthwhile.

My state has not implemented the SECURE Act provisions. The provisions have been under "evaluation" for months and months and months.
by flyfishers83
Thu Nov 19, 2020 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Student Loans before buying a house? [Help prioritizing finances]
Replies: 29
Views: 919

Re: Refinance Student Loans before buying a house?

Regarding your student loans, you should investigate whether South Carolina has implemented the SECURE Act provisions with respect to repaying student loans from 529 plans. Under the SECURE Act, an individual can use $10,000 worth of 529 money to repay student loans, but implementation is at the sta...
by flyfishers83
Thu Nov 12, 2020 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter ready to buy car on her own. Decent fico, not long history, pre-approval rate is high.
Replies: 65
Views: 3410

Re: Daughter ready to buy car on her own. Decent fico, not long history, pre-approval rate is high.

There's no profit on a 5k loan. See what rates you can get by financing the entire purchase and then make a lump sum payment.
by flyfishers83
Thu Nov 05, 2020 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Typical cleaning expenses after rental lease?
Replies: 31
Views: 2647

Re: Typical cleaning expenses after rental lease?

Yeah...either your landlord is sleazy or you're misrepresenting the condition. I'm going to guess sleazy. I used to see this quite a bit when I lived in a college town. It went both ways though. Kids would destroy places and landlords would sneak in fake charges. They'll have to itemize the damages,...
by flyfishers83
Fri Oct 30, 2020 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Typical cleaning expenses after rental lease?
Replies: 31
Views: 2647

Re: Typical cleaning expenses after rental lease?

Yes. Very state specific. Some states require refund of security deposit or itemized with holdings within certain timeframe or treble damages can apply.
by flyfishers83
Sun Oct 18, 2020 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6501

Re: 2nd house, for Univ. kids/students

My parents bought a duplex for me to live in. I lived there for maybe 7 years. End of undergrad, law school and a bit after. My parents made a little bit of money, and I saved a LOT of money, as my rent was taking care of the place and finding tenants. My parents kept for several years after I moved...
by flyfishers83
Fri Oct 09, 2020 11:19 am
Forum: Personal Consumer Issues
Topic: Marketers think I'm elderly. I'm not.
Replies: 47
Views: 4412

Re: Marketers think I'm elderly. I'm not.

I also have gotten solicitations which are probably more appropriate for those 30+ years older than me. It seems like mine and my father's info have gotten intertwined. The solicitations seem to come in waves. My wife also gets materials in Spanish. I assume that's due to her name and/or extended fa...
by flyfishers83
Thu Oct 01, 2020 9:17 am
Forum: Personal Investments
Topic: HSA AA for near-term orthodontia
Replies: 29
Views: 1503

Re: HSA AA for near-term orthodontia

One of my bigger financial regrets is withdrawing some money from our HSA a few years ago. We were buying a house and had been ignoring some bad spending patterns on a joint credit card with my wife and a family member. It's an excruciatingly long story, but we were faced with paying off a $30k cred...
by flyfishers83
Tue Sep 22, 2020 1:59 pm
Forum: Personal Consumer Issues
Topic: Do items magically appear in your Amazon cart?
Replies: 27
Views: 1763

Re: Do items magically appear in your Amazon cart?

We had issues for months. I don't think they were actually in the cart, but in saved items. Really random assortments of things. My wife kept calling and changing passwords and enabling 2FA. It never made sense, and we never got an explanation.
by flyfishers83
Tue Sep 22, 2020 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 16132

Re: Physicians: Should I leave my job?

Assuming you're saving more than 300k per year That's a pretty hefty assumption when the after-tax income is $360k/year. I think I live frugally, but dang. I'm probably close. Sometimes I wonder what I'm doing wrong when I see these other posts from physicians only a few years older than me who hav...
by flyfishers83
Tue Sep 22, 2020 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 16132

Re: Physicians: Should I leave my job?

How much is enough? You're saying you can work less than 40 hours per week and make 700k+. Those gigs would seem to be few and far between. Is your goal to earn the most money or is to earn a LOT of money and have your entire life to spend doing whatever you want with a relaxed schedule. Assuming yo...
by flyfishers83
Fri Sep 18, 2020 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 311
Views: 21139

Re: Preparing for retirement in mid 30s

I live in an area where you can buy a nice house for $200,000. We sold our house last year for 150,000, and it had 5 bedrooms and 3 bathrooms. A couple of thoughts: -Your budget seems a little light. Probably less likely to get 3% on a small mortgage. Need to factor in home repairs and maintenance w...
by flyfishers83
Tue Sep 15, 2020 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Reimbursing mileage for HSA
Replies: 26
Views: 1462

Re: Reimbursing mileage for HSA

Wife and I had significant out of pocket expenses a couple of years ago and drove 6,000 miles back and forth to dr. appointments (one of the benefits of living a couple of hours from a major city). I have a spreadsheet with all of the dates, which dr. and the mileage. I don't know that I'll ever pur...
by flyfishers83
Wed Aug 26, 2020 3:42 pm
Forum: Investing - Theory, News & General
Topic: A Beater Truck and a FAT 401k...
Replies: 104
Views: 10456

Re: A Beater Truck and a FAT 401k...

The vehicle thing gets me from time to time. Somebody mentioned the cost of new trucks. It seems like just about every week I both regret how much we spent on a new truck and enjoy that same new truck. Granted, when we got the new truck, I was moving up from a 16 year old Jeep Cherokee that had no a...
by flyfishers83
Fri Jul 17, 2020 9:03 am
Forum: Personal Investments
Topic: Newly Dual-Dentist Couple
Replies: 25
Views: 1712

Re: Newly Dual-Dentist Couple

My wife is a dentist, and she graduated with massive student loan debt. We have paid off approximately 260k over the last 5 years. Work on lightening that anchor around your neck, and you will feel so much better. A couple of tips/observations: A lot of dentists spend a lot of money. You will see pe...
by flyfishers83
Wed Jun 17, 2020 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to evaluate adjustable complife insurance policy
Replies: 11
Views: 330

Re: How to evaluate adjustable complife insurance policy

We'll probably be at 24% federal marginal tax rate in 2020. Regarding the basis, I just got access to 2019 and 2020 statements, and the basis decreased by $666. I don't see a good option. Surrender and owe money. Continue to pay premiums and have the value slowly whittled to zero Don't pay premiums ...
by flyfishers83
Wed Jun 17, 2020 10:25 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate adjustable complife insurance policy
Replies: 11
Views: 330

How to evaluate adjustable complife insurance policy

31 years ago my parents took out an adjustable complife policy through Northwestern Mutual with me as the insured. Within the last month, they have transferred ownership to me. My initial inclination had been to surrender the policy. However, there is a loan on the policy that is complicating things...
by flyfishers83
Thu Jun 11, 2020 9:25 am
Forum: Personal Finance (Not Investing)
Topic: So Are Home Renovations Worth It (Financially) Or Not?
Replies: 105
Views: 7751

Re: So Are Home Renovations Worth It (Financially) Or Not?

My wife and I are struggling with this right now. We have a very functional and nice house, but would make some updates and additions. The updates would be flooring and kitchen and additions would be converting part of upper level deck to screened in porch and ripping out lower level deck to make a ...
by flyfishers83
Wed May 13, 2020 12:28 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 240
Views: 12393

Re: Dentist charges $10 for PPE

That's interesting, and there's been lots of discussion among the dental community. Some have talked about adding a surcharge, but this is the first time I've actually heard of it being done. I don't know if it's actually OK to do, but there's lots of unknowns right now. My wife is the dental direct...
by flyfishers83
Fri Apr 24, 2020 4:42 pm
Forum: Personal Investments
Topic: Backdoor Roth 2019 & 2020 simultaneously?
Replies: 1
Views: 146

Backdoor Roth 2019 & 2020 simultaneously?

I'm planning to do the first backdoor Roth contributions and conversions for my wife and I. Do the 2019 and 2020 contributions need to be separated? Or can they be lumped together and performed in two chunks (one for each of us)?
by flyfishers83
Wed Mar 18, 2020 8:15 am
Forum: Investing - Theory, News & General
Topic: End of corporate stock buybacks??
Replies: 75
Views: 4638

End of corporate stock buybacks??

I've been reading a few articles recently where it looks like there is going to be real pressure put on companies receiving any sort of bailout. Does anybody think that this time will be different and that future corporate buybacks will be seriously curtailed (or prohibited) and what does that mean ...
by flyfishers83
Sun Mar 15, 2020 8:57 am
Forum: Investing - Theory, News & General
Topic: So what does shutting down the US economy for a few months look like?
Replies: 200
Views: 15394

Re: So what does shutting down the US economy for a few months look like?

The next week will probably throw some of the impacts into sharp focus. As of this morning, you have schools with 26 million kids closed with more to come. I’m sure there are millions of people scrambling this weekend to figure out what to do with their kids or deciding whether to not work next week...
by flyfishers83
Tue Mar 10, 2020 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 8042
Views: 560943

Re: Refinance Mega Thread

We're in the middle of shopping our refinance and have experienced something I wasn't expecting. When we bought our house last year, we only put 5% down with the intention of making a lump sum payment after selling our previous house. Well, we have the cash but haven't made the lump sum payment yet....
by flyfishers83
Fri Feb 28, 2020 12:22 pm
Forum: Personal Investments
Topic: 401(k) contribution date and maximum contribution question
Replies: 2
Views: 109

401(k) contribution date and maximum contribution question

My company switched 401(k) providers from Mass Mutual to Fidelity over the end of last year and beginning of this year. That transition was supposed to be completed in December, but took longer than expected and ultimately bridged the calendar year. In looking at my Fidelity transaction history, it ...
by flyfishers83
Sun Jan 26, 2020 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and 529 Use for Loan Repayments
Replies: 5
Views: 645

Re: Secure Act and 529 Use for Loan Repayments

Check with your plan to see if loan repayment would be considered a qualifying withdrawal. I suspect that most have not yet made a determination. Missouri MOST says on their website that they are evaluating. I was going to start a 529 anyway, but will probably go ahead and fund two this year with $2...
by flyfishers83
Fri Jan 24, 2020 10:37 am
Forum: Personal Consumer Issues
Topic: Baby registry "must haves"?
Replies: 64
Views: 3485

Re: Baby registry "must haves"?

We always liked the stroller car seat combos where the car seat could snap directly into the car seat base in the car and then into the stroller without taking the baby out of the car seat. Good for the first year or so. Then the stroller can be used like a regular stroller. A good baby monitor is ...
by flyfishers83
Thu Jan 23, 2020 6:17 pm
Forum: Personal Consumer Issues
Topic: Baby registry "must haves"?
Replies: 64
Views: 3485

Re: Baby registry "must haves"?

Our first just turned 5 months this week. We didn't do a registry, but of course got a bunch of gifts. A few observations: We spent a bunch of money on things we won't use. Expensive bassinet and swing being the two biggest. You and your wife might be the type that think you have to have everything ...
by flyfishers83
Thu Dec 05, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off major debt?? Or do something else??
Replies: 12
Views: 1542

Re: Pay off major debt?? Or do something else??

I would definitely not pay off the loan unless your aversion to debt is overwhelming you or you have an obligation to the family member to retire the debt. Assuming your high yield account is in the 2% realm, you're making money every month by keeping the money in the account vs. paying off the loan...
by flyfishers83
Tue Nov 12, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Attorney Career Advice needed
Replies: 11
Views: 1474

Re: Attorney Career Advice needed

I’m in this field. There’s a huge difference between document review management and a lot of other specialties/consulting. Ive been in the review manager role, and now I get to consult on a lot of newsworthy cases that I never would have been able to touch based on law school and my early work traje...
by flyfishers83
Mon Nov 11, 2019 9:40 am
Forum: Personal Investments
Topic: Resource suggestions for recently retired father
Replies: 11
Views: 984

Re: Resource suggestions for recently retired father

To answer a couple of questions, he has a full picture, but I bet he can't quickly tell what individual components are doing. I think there are a lot of pieces. He's a smart guy and has done very well for himself, but he's also extremely risk averse. I've never understood his refusal to manage his o...
by flyfishers83
Mon Nov 11, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Student Loan Refinance Suggestions
Replies: 13
Views: 1181

Re: Student Loan Refinance Suggestions

Unfortunately not in a First Republic area. We've gotten a soft pull quote at 4.05% for 10 years. Our last refi was through Sofi, so we'll be checking with them again and a couple others.
by flyfishers83
Sun Nov 10, 2019 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Refinance Suggestions
Replies: 13
Views: 1181

Student Loan Refinance Suggestions

Any recent student loan refinance opportunities that seem particularly good? My wife and I are looking at refinancing her loans again. We will be refinancing 130,000, and we're looking at a 10 year term. She has an 820 credit score and income sufficient to cover any repayment term. The 10 year term ...
by flyfishers83
Sun Nov 10, 2019 10:49 pm
Forum: Personal Investments
Topic: Resource suggestions for recently retired father
Replies: 11
Views: 984

Resource suggestions for recently retired father

My dad retired approximately 9 months ago (my mom has been retired for quite a while). As the retirement date has come and gone, he has expressed concern regarding his investments a few times. My dad is a CPA and was a partner at a large tax firm prior to retirement. I think he's suffering from anal...
by flyfishers83
Mon Sep 02, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Any Reason To Not Payoff Student Loan?
Replies: 21
Views: 1817

Re: Any Reason To Not Payoff Student Loan?

Depends on the program and amount of debt. For an example of reason not to pay off completely, there are repayment programs-as opposed to forgiveness programs. My wife has qualified during 2 application cycles for one program. The repayment is tax free. We have taken a hybrid approach. Refinancing t...
by flyfishers83
Wed Aug 28, 2019 9:49 am
Forum: Personal Consumer Issues
Topic: Purchasing a truck - thoughts?
Replies: 105
Views: 7501

Re: Purchasing a truck - thoughts?

I just bought a truck -F150- for the first time a couple of years ago. I love it and have used it quite a bit between moving houses, hauling a boat, buying furniture, etc. however, trucks are expensive. Also, for everyday use an suv would be more practical. Trucks are also generally not great in the...
by flyfishers83
Sat Aug 24, 2019 8:21 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 9040

Re: How to help an employee who is in debt and requesting a loan

I’d really focus on the motivation to help out the employee. If it’s because she is a really strong contributor that would be difficult to replace, that’s different than we feel sorry for her. In the first instance, there might be a quantifiable business value to helping out. The second comes down t...
by flyfishers83
Fri Aug 16, 2019 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: HSA withdrawal question
Replies: 5
Views: 452

Re: HSA withdrawal question

It's tax free in either scenario-though we don't have any Roth IRA money. The difficulty is figuring whether we're better off taking the money out of a triple tax free bucket for immediate needs. There are just so many variables that the optimal solution seems difficult to quantify. Likely due to em...
by flyfishers83
Fri Aug 16, 2019 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: HSA withdrawal question
Replies: 5
Views: 452

HSA withdrawal question

Question re: HSA withdrawal. I currently contribute the max to my HSA-7k per year with my wife on my insurance plan. The $7k covers my contribution plus employer contribution. The HSA eligible plan is also significantly cheaper than other plans. l I had accumulated a reasonably large balance (>10k) ...
by flyfishers83
Wed Jul 24, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Use HSA or pay Out Of Pocket?
Replies: 30
Views: 2188

Re: Use HSA or pay Out Of Pocket?

I was in the pay for medical out of pocket and save HSA money until last year. My wife and I had $30k in not covered medical. We paid out of pocket and then cashed in the HSA. I’m continuing to reimburse ourselves. If we didn’t have student loan debt, I might not reimburse. But seems most beneficial...
by flyfishers83
Fri Jun 07, 2019 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Shortly after Home purchase
Replies: 4
Views: 382

Refinance Shortly after Home purchase

My wife and I recently closed on a new house. We used the same bank as our last mortgage for convenience. I'm confident that the rate was not phenomenal given our situation. Currently have two mortgages-one on our previous house that we haven't listed for sale yet and one on our new house plus signi...