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mesaverde

I currently max out both a 403b and government 457b, both with Fidelity low cost index funds. Doing so also has the added benefit of moving me from the 22% federal income tax bracket to the 12% bracket, a significant savings. If I could only choose one, it would definitely be the 457b for these reas...

mesaverde

Thank you everyone for the feedback. I went ahead and switched from Geico to Progressive for two reasons: 1. It didn't feel right when even though the value of my vehicle has gone down and I'm driving considerably less (because of the pandemic) Geico raised the premium (and made it clear they would ...

mesaverde

But doesn't an independent agent take a cut?
I think that's one reason why State Farm tends to be expensive... you're paying for the "privilege" of going through a local insurance agent (although with State Farm, not independent).

mesaverde

I've had Geico auto insurance for years and the premiums have been creeping up little by little, which is typical. I haven't had any accidents/tickets over the past 20 years and have a high credit score. Especially given that I've hardly been driving at all because of the pandemic, it doesn't feel r...

mesaverde

By two refinances through Lenderfi have been serviced by:
February 2020- Citizens One
October 2020- LenderFi
Both fine.

mesaverde

This has already been discussed in a recent thread:
viewtopic.php?p=5663291

Personally I contributed my full $6k today. If you have the money set aside already, why not? The sooner you're invested the better (regardless of market up or down).

mesaverde

This year I did two no cost refinances with Lenderfi (lender credits covered all actual costs, not prepaid interest/insurance) . Currently at 3% on a 30 year fixed, 55% LTV, loan amount $212k. The only reason the last one wasn't below 3% is because the loan amount isn't so high. But may end up refin...

mesaverde

You're extremely fortunate to have a 457b with these low cost funds. A benefit many (most?) Amercans don't have . The ability to withdraw $ penalty free at any age (after leaving your job) 1. allows for the ability to tap these funds at early retitement 2. acts as an emergency fund if you lose your ...

mesaverde

I know Dave Ramsey and other debt-averse people would advise me ... You're taking advice from this guy? https://www.nbcnews.com/news/us-news/caterers-finance-guru-dave-ramsey-s-holiday-party-told-not-n1251204 https://religionnews.com/2020/12/11/dave-ramsey-christian-financial-guru-ridicules-covid-1...

mesaverde

Hello! I'm 47, have an emergency fund, and no debt other than my mortgage (3% fixed rate, 50% LTV, $210k balance, 358 payments remaining). I don't make any extra principal payments on the mortgage. Instead, I save 60% of my gross income by contributing towards a pension and maxing out a 403b, 457b,...

mesaverde

Hello! I'm 47, have an emergency fund, and no debt other than my mortgage (3% fixed rate, 50% LTV, 358 payments remaining). I don't make any extra principal payments on the mortgage. Instead, I save 60% of my gross income by contributing towards a pension and maxing out a 403b, 457b, and Traditiona...

mesaverde

Hello! I'm 47, have an emergency fund, and no debt other than my mortgage (3% fixed rate, 50% LTV, 358 payments remaining). I don't make any extra principal payments on the mortgage. Instead, I save 60% of my gross income by contributing towards a pension and maxing out a 403b, 457b, and Traditiona...

mesaverde

Hello! I'm 47, have an emergency fund, and have no debt other than my mortgage (3% fixed rate, 50% LTV, 358 payments remaining). I don't make any extra principal payments on the mortgage. Instead, I save 60% of my gross income by contributing towards a pension and maxing out a 403b, 457b, and Tradi...

mesaverde

Hello! I'm 47, have an emergency fund, and no debt other than my mortgage (3% fixed rate, 50% LTV, $210k balance, 358 payments remaining). I don't make any extra principal payments on the mortgage. Instead, I save 60% of my gross income by contributing towards a pension and maxing out a 403b, 457b, ...

mesaverde

Great topic for savy investors and coffee drinkers :) Every morning before going out for a 7-12 mile run I grind medium roast whole bean coffee, put it in a French press, add water from electric kettle, and add a little whole milk warmed in the microwave. I don't like to create trash and pay more fo...

mesaverde

I'm a public school teacher and have refinanced/extended my ~55% LTV 30 year fixed mortgage back out to 360 months several times. Currently it's at 3%. If I can do a no cost refinance to 2.5% in the next year or so I won't hesitate. The mortgage is the only debt I carry. I could choose to pay this d...

mesaverde

Yesterday I signed closing docs on my 2nd no cost refinance with Lenderfi (this year!). No cost meaning that I only pre-paid for property tax and insurance (escrow) and prepaid interest. Lender credit paid for all actual costs. LTV 55%, $213k loan, 30 years fixed at 3% (probably would have been less...

mesaverde

I did a refinance with Lenderfi that started(!) in March. As everything locked down we blew WAY past the time limit on the rate we locked, which was 3.375%. Lenderfi never relocked another rate, but gave me the market rate when we finally closed, which was 3.0%. Since I had no obligation to follow ...

mesaverde

If you are regularly buying shares of a U.S. stock index fund and plan to keep those shares invested for many years (otherwise you'd be buying mostly bonds, right?) this "news/revelation" is meaningless. You probably won't use the stock shares you're currently buying for 10, 20, 30, or mor...

mesaverde

Family and I even before the pandemic made it a plan to spend the next few years taking vacations in the US, mainly the national park system. Feel even more strongly about that now. Wondering if anyone could recommend a good Natl Park to visit in the winter (late Feb/early March)? Two years ago we ...

mesaverde

As others have said, Penfed had very competitive mortgage rates (fixed rates and for 1-2 years there was a really good deal on a 5/5 ARM), CD rates, and credit card deals. I've been thinking about cutting everything off from them though... the only association I currently have w/ Penfed is a no fore...

mesaverde

Here's some important recent news: the new .5% mortgage refinance fee will be postponed until Dec. 1 (previously it would have been charged on any refinance closing after Sept. 1st). https://www.forbes.com/sites/ryanguina/2020/08/28/now-is-a-great-time-to-refinance-your-mortgage-new-refinance-fees-d...

mesaverde

OP, In 2013 I was in the same situation... I wanted a Honda and had the cash to buy a new one. I reminded myself that it's always good to have options, so I decided to get a .9% loan from them to buy it. In hindsight I'm not sure that I would have bought a NEW Honda if they had not offered that loan...

mesaverde

I grew up in Memphis, moved to Chattanooga in 1999, then Arlington, VA in 2006 and have been in Arlington since. I look forward to moving back to Chattanooga when I retire in a few years and still keep in touch/visit my friends there for that reason. Pros of Chattanooga: -Tons of outdoor activities ...

mesaverde

Hi coalcracker- what is your goal? To lose body fat? As a competitive athlete (runner) I strive to maintain the ideal racing weight. Before getting into an intense training cycle my goal is to make sure I'm at the appropriate weight. That involves counting calories in/out and eating at certain times...

mesaverde

I refinanced with Lenderfi in February this year... 30 year fixed at 3.5%, LTV ratio of 50%. This week I contacted Lenderfi about lowering the rate (6 months had passed). They said I could do a no cost refinance at 3% with my LTV ratio & the closing costs in my state. I agreed and e-signed the d...

mesaverde

Thank you for the updates on your dealings w/ Lenderfi, this is helpful. In February I refinanced to a 30 year fixed, 55% LTV no cost @ 3.5% with Lenderfi. They said that after 6 months if the rate dropped more than .5% they would adjust the rate down for free. So later this month I plan on taking t...

mesaverde

OP: I was in your girlfriend's shoes (I was living with my girlfriend in her home) for 6 years. This was a source of tension for us as well. It was hard to reach a dollar amount that each of us thought was fair. In the beginning we both had the idea that our relationship would lead to marriage (&...

mesaverde

What’s your aa? I’m on the treasury only bandwagon if it isn’t a large amount <30% of portfolio. Currently the AA is 65% stock (mainly Total U.S. index & Total international index) and 35% bond (U.S. bond index). Over the next few years I'll almost exclusively be making contributions towards bo...

mesaverde

I'm fortunate to have two excellent intermediate term bond funds in my 457b and 403b accounts with my employer. I'm currently maxing both plans out and am approx. 6-8 years from retirement, so will be allocating more contributions towards bonds in the coming years. The two intermediate term bond ind...

mesaverde

Personally, I consider the 22% bracket to be high and do what I can to avoid it. Agreed. 22% is quite a jump from 12% even though only a portion of one's income is taxed at that higher rate. 10% more saved/invested instead of 10% more to the federal government. So staying within the 12% bracket mak...

mesaverde

Do you expect a pension? What is the approximate value of your tax-deferred accounts now? I will have two pensions starting at age 65. Those pensions will provide most of my income at that point (social security icing on the cake). So the idea is that the 457b and 403b will act as a "bridge&qu...

mesaverde

You are right on the money there, and what I would suggest for someone in your position. Here is a thought you may not have considered. If your taxable income is $43k, your AGI is about $55k. This is an income where, if you choose to, the Traditional IRA contribution is fully deductible. You may wa...

mesaverde

I’m 47, single, a teacher, and plan on retiring at age 55. Currently I’m maxing out a 457b and 403b with Fidelity. Maxing these accounts out puts me in the lower end of the 22% federal income tax bracket (my taxable income last year was $43k). Because I’m maxing both of these out I’m only paying the...

mesaverde

The bulk of my portfolio is the three fund portfolio (Total U.S. stock index, Total international stock index, Total U.S. bond index). However, in my Vanguard Roth IRA I only hold Vanguard small value index. Today I happily contributed $6,000 to the Roth for 2020 contribution. This is my only deviat...

mesaverde

Did the salesperson say that the policy would provide a tax free income stream? That doesn't sound correct. The money paid in can be withdrawn without paying tax because the tax was already paid on that money before it was paid to the insurance company. It is not income from the insurance company. ...

mesaverde

Thank you for the comments, they're much appreciated. I told my friend to ask the salesperson if he knows of an investment that has a guaranteed negative return for the first 10-15 years (-67% for the first year) and only a ~2.8% return after that. Because that's what this policy entails. A high c...

mesaverde

A close friend recently began a Whole Life insurance policy with MassMutual. Her financial adviser signed her up. My friend makes a great salary ($230k taxable income) but readily admits that she knows very little about investing/personal finance. She's 47 and hopes to retire by age 57. Her reason f...

mesaverde

Although the 10 year has moved down ~40 bps since the rates hit 3.125% (30 year, 70% max LTV 0 origination pts, 800+ credit) at the local bank I was looking to refinance at, my quoted mortgage rate has not moved down at all. Normally, a 40 bps drop translates into 2+ origination pts or a rate drop ...

mesaverde

Here's my own personal experience. For seven years I had a rental in a high cost of living/highly educated area. As others posted previously, your ROI is reduced in an area like this... the ROI on my rental was ~5.5%. Having higher quality tenants in an area like this can be less of a hassle, but it...

mesaverde

OP, have you ever had to pay for a major repair soon after buying? I have... I had to replace the air system one year after buying, a $7,000 hit.
Even if you didn't have such a repair, it doesn't make any sense (financially or stress wise) to buy in your situation.

mesaverde

Thanks to the forum I also learned about Lenderfi and closed on a refinance this week... a 30 year fixed mortgage at 3.5% with $800 in actual closing costs (not including prepaids/escrow). 55% LTV ratio. They did not require me to pay for an appraisal. According to their website rates dropped even l...

mesaverde

At this point I've only signed the loan estimate and have not paid anything (there is no fee for a rate lock and the appraisal has been waived).

mesaverde

mhc wrote: ↑Fri Jan 24, 2020 1:21 pm First thing I would do is contact them and see if they will give you the additional $1k credit.

I contacted them and asked if they would do this. The answer was no.

mesaverde

I'm refinancing my home through Lenderfi, which had the lowest closing costs of all. By refinancing I'll save many thousands over the coming 10+ years because I don't plan to move. Tuesday I locked the rate. No fee was required and I won't need to get/pay for an appraisal, so I don't have any $ in t...

mesaverde

Early last year I refinanced with AimLoan and it was smooth. I gave a reasonable estimate for the value and they waived the appraisal, saving $$. But now I'm refinancing with Lenderfi. I compared Lenderfi to Aimloan and Lenderfi's closing costs were $1,500 less for a 30 year 3.5% fixed. So be sure t...

mesaverde

OP: I'm a teacher and have noticed this as well. If you don't anticipate staying for the long term it isn't such a bad thing. Most likely your contributions to the plan earn interest annually. The interest rate is probably more or less equivalent to the rate of inflation, so you could view the pensi...

mesaverde

I refinanced with AimLoan this summer. It was practically flawless and I would use them again without hesitation. Closed within 30 days of application.

mesaverde

Unless you are determined to leave a large amount of $ to your children/heirs, you may want to consider getting a reverse mortgage in a few years. That way you'd be able to actually use that large portion of your net worth tied up in your illiquid asset.

mesaverde

This summer I've hiked/backpacked/run approx. 600 miles in the U.S. & Canadian Rockies. When hiking & backpacking I use retired running shoes, putting 200-300 additional miles on them. Of course you could use new running shoes. I know that a lot of Appalachian Trail/Continental Divide/Pacifi...

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