Search found 58 matches

by jmzf1958
Wed Apr 13, 2016 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: disability insurance: do I really need it?
Replies: 53
Views: 7515

Re: disability insurance: do I really need it?

I was a court reporter for 23 years when I developed carpal tunnel syndrome and upper back and neck issues and a degenerative disc. I was 43 years old and a single mom of two children. The doctor did not want to operate on my carpal tunnel, explaining that if I had surgery and went back to court reporting, the carpal tunnel would come back. I was fortunate to have purchased two private disability policies. The monthly benefit from those policies along with my disability retirement pension and other income made it possible for me to stop working without having to sell my home and wonder if I was going to be able to send my kids to college. I'm 58 now and the kids are done with college and on their own. You never know what life is going to br...
by jmzf1958
Sun Nov 24, 2013 4:59 pm
Forum: Personal Investments
Topic: No 401K offered through work. Where to invest?
Replies: 4
Views: 690

Re: No 401K offered through work. Where to invest?

Thanks for the replies. Opening an account at Vanguard and using the target date index fund seems to be the way to go.
by jmzf1958
Sun Nov 24, 2013 12:20 pm
Forum: Personal Investments
Topic: No 401K offered through work. Where to invest?
Replies: 4
Views: 690

No 401K offered through work. Where to invest?

My daughter, 28, has a new job, and they don't offer a 401K plan. She would like to open up either a Traditional IRA or a Roth IRA, having automatic deductions from her paycheck go directly into her IRA into the various index funds she chooses. Could I get some advice on whether she should open up the traditional IRA or a Roth and what her asset allocation should be along with suggestions on the index funds she should use. Also, opinions on what low cost brokerage firms would work best for how she wants her money disbursed. She has checked with Scottrade, and they will they will take the money from her checking account and put it into a Scottrade cash account, but she would have to physically make the tranfers into the index funds herself. ...
by jmzf1958
Mon Nov 11, 2013 2:06 pm
Forum: Investing - Theory, News & General
Topic: The key to investment success
Replies: 33
Views: 4271

Re: The key to investment success

So it sounds as if, according to this article, if someone has $100,000 or so to invest in equites for the long term, fifteen years or more, then this is not the time to put it all in? If it's not, when would you suggest someone invest a lump sum? It would be nice to wait for a correction, but it could be a long wait. In the meantime, the market could climb higher. Any suggestions?
by jmzf1958
Wed Mar 07, 2012 2:06 pm
Forum: Personal Consumer Issues
Topic: Kitchen Cabinet Refacing
Replies: 20
Views: 14388

Re: Kitchen Cabinet Refacing

I have had my kitchen cupboards refaced in the house I sold this summer. They were 1980's oak and were refaced in french vanilla. Looked gorgeous. This morning, I placed my order to have my cupboards replaced in my new (to me) 1950's house. The original birch cabinets are in here now. I ordered light tiger maple. I live in the central new york area and ordered from a place called Custom Woodcraft. The mennonites own this company and the prices are very reasonable. The cost for refacing, plus some add ons, were $6000. There may possibly be some one in your area that custom makes them. Good luck.
by jmzf1958
Mon Feb 20, 2012 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Home addition or move?
Replies: 29
Views: 2818

Re: Home addition or move?

My two sisters and I shared a space of about 200 square feet, at the most, with partially angled ceilings. Being the youngest, naturally I got the smallest space with room for a twin bed, night stand and a dresser. There were walls between the rooms, and there was only one main door, so we put up curtains in place of doors. My oldest sister had one closet, and my other sister and I shared a large closet. We were fine with this. Have you thought about taking one of the larger bedrooms, sheetrock down the middle of the space, add an additional closet (if needed), and add another door for an entrance way from the hall (I assume)? This way, they will have their own space, even though it may be a small area. How much space do they really need? A...
by jmzf1958
Mon Oct 24, 2011 6:16 pm
Forum: Personal Investments
Topic: 22 year old son's 401K
Replies: 7
Views: 1362

Re: 22 year old son's 401K

Thanks for the advice. He's not in a high tax bracket and doesn't plan on going back to school. So if I understand, he should do the moderately aggressive asset allocation strategy up to the company match, then open a roth IRA using index funds. I was going to recommend he open an account for the roth at Scottrade. Does that sound like a good plan? Thanks again.
by jmzf1958
Sun Oct 23, 2011 2:52 pm
Forum: Personal Investments
Topic: 22 year old son's 401K
Replies: 7
Views: 1362

22 year old son's 401K

My son can now enroll in his employer's 401K plan. The company will contribute an employer matching contribution of 100% of the first 3%, plus 50% of the next 2% he contributes. Maximum employer match is 4%. He can invest in a model asset allocation strategy, choices being conservative, moderately conservative, moderate, moderately aggressive, aggressive, or very aggressive. Aggressive is 25% stocks and bonds (balanced), 38% large company stocks, 14% small/medium company stocks, 15% international, and 8% emerging market. Moderately agressive is 40% stocks and bonds (blended), 32% large company stocks, 10% small/medium company stocks, 12% international, and 6% emerging market. Rebalancing is automatic near the end of each quarter. The other ...
by jmzf1958
Mon Aug 08, 2011 10:01 pm
Forum: Personal Consumer Issues
Topic: custom blinds worth it?
Replies: 5
Views: 1153

I've ordered from American Blinds and Wallpaper and have been happy with them. Great prices, too.
by jmzf1958
Fri Jul 01, 2011 12:56 pm
Forum: Personal Investments
Topic: Getting rid of timeshare
Replies: 21
Views: 3453

It's very difficult to sell a timeshare. There's a great website you can get a lot of information from regarding timeshares: www.tug2.net. Hope it helps. Judy
by jmzf1958
Tue Jun 28, 2011 7:15 pm
Forum: Personal Investments
Topic: money market funds have big europe debt exposure
Replies: 45
Views: 7194

I just talked to a vanguard representative. Apparently, you cannot transfer your money from vmmxx to a cash account because vanguard has no cash account to put it in. So if this could be at risk, where should I put my money? The representative told me they are invested in are not invested in greece, portugal or spain, but mainly in england, germany, and luxomburg.
by jmzf1958
Mon Jun 27, 2011 8:20 pm
Forum: Personal Investments
Topic: money market funds have big europe debt exposure
Replies: 45
Views: 7194

I have my money in VMMXX. Is this at risk? Thanks. Judy
by jmzf1958
Sat Apr 30, 2011 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off 4.125% mortgage or invest?
Replies: 18
Views: 4543

Yes, this is all tax deductible. I'm in the 10% tax bracket. I am retired, so I can't contribute to an IRA or Roth IRA, but I will be able to save $2000 or more a month for eleven years even if I do keep the mortgage. If I pay off the mortgage, I can save around $3,000 a month for eleven years. I also have pensions and social security. I just wonder if I would do that much better investing the money now rather than paying off the house, but nobody knows what will happen. Thanks for all the responses.
by jmzf1958
Sat Apr 30, 2011 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off 4.125% mortgage or invest?
Replies: 18
Views: 4543

Pay off 4.125% mortgage or invest?

Hello. I have a purchase offer on my home that I accepted. I plan to move into a rental home that I own. I have a balance of $95,000 left to pay on a 15 year bi-weekly mortgage (13 years left to pay.) The interest rate is 4.125%, fixed. If I keep the mortgage, I will be 65 when it's paid off. Should I pay the mortgage off or invest the money? All opinions are welcome. Thank you.
by jmzf1958
Fri Apr 15, 2011 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gains on rental property
Replies: 5
Views: 1758

Thank you.
by jmzf1958
Thu Apr 14, 2011 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gains on rental property
Replies: 5
Views: 1758

Capital gains on rental property

Hi. I bought a rental property for $110,000 in August of 2009. I have put about $60,000 in improvements in the rental. I would like to sell this, hoping to net $180,000. Can anyone tell me how much in capital gains I would have to pay? If you need more information, I will try to provide it. Thanks.
by jmzf1958
Wed Feb 09, 2011 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance -- for a "thinking" job
Replies: 244
Views: 39139

You definitely need disability insurance, own occupation. I was a court reporter in supreme and county court for 23 years, a "thinking" job. I developed carpal tunnel in both hands and back and neck problems and took a disability retirement at the age of 43. I have been on disability for 10 years now. I am so thankful I had two disability policies to help cover my lost income. Get the insurance. You never know. Judy
by jmzf1958
Mon Feb 07, 2011 8:15 am
Forum: Personal Consumer Issues
Topic: A frugal, alternative family vacation
Replies: 59
Views: 16106

I like to rent timeshares when I go on vacation. There are many available for rent in the northeast, Maine, Cape Cod, New Jersey, Rhode Island. There are always activites to participate in. $4500 is a lot for a vacation. There are a lot of timeshares available to rent in the southeast on the coast - Hilton Head, Myrtle Beach, for around $2,000 per week, two bedroom, on the ocean, Marriotts. Websites to check for rentals are Tug2.net, under marketplace, Redweek.com, sellmytimeshare.com, and others. Timeshares are a great way to vacation, especially with children. You can join TUG for about $15 a year. If you join, you can check out the reviews by renters of the various timeshares. I also go on Tripadvisor.com for reviews. If you want to go t...
by jmzf1958
Fri Jan 21, 2011 8:02 am
Forum: Personal Consumer Issues
Topic: Vermont,NewHampshire, Maine..what, where, when
Replies: 26
Views: 4359

I really enjoyed our visits to Kennebunkport, Maine, over the years. It's a quaint little town. July to October are great times to visit. Years ago, my aunt and uncle owned a beautiful old home within walking distance to the village. They ended up selling it many years ago, and it's now a gorgeous bed and breakfast called "The Lord's Mansion." Enjoy your visit to New England!
by jmzf1958
Sat Jan 08, 2011 1:03 pm
Forum: Personal Investments
Topic: Money market fund
Replies: 9
Views: 2031

Thanks for all the replies. Would putting the money into a short term CD be risk free and FDIC insured? If it is, I may want to consider doing this through VanGuard. I really don't want any risk at all for the next few months.
by jmzf1958
Thu Jan 06, 2011 4:37 pm
Forum: Personal Investments
Topic: Money market fund
Replies: 9
Views: 2031

Money market fund

Hi. I recently transferred my IRA funds to Vanguard. I asked for the money to be put in cash. It was put in the money market fund. I want to keep it there for awhile before I decide what to do. The representative from Vanguard said even though the money is in the money market fund, you can still lose money.
She stated some of the money is invested with the government. Can anyone explain to me how safe the money market is and what it invests in? Thanks.
by jmzf1958
Mon Jan 03, 2011 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: New Retirement Hazard: Reduced Pensions?
Replies: 62
Views: 8539

Value thinker - thanks for the reply and the suggestions. Judy
by jmzf1958
Sun Jan 02, 2011 9:19 am
Forum: Personal Finance (Not Investing)
Topic: New Retirement Hazard: Reduced Pensions?
Replies: 62
Views: 8539

I am retired after working many years for the State of New York. Would anyone have an opinion regarding a retiree's pension being in jeopardy of being taken away? Judy
by jmzf1958
Fri Nov 19, 2010 6:46 pm
Forum: Personal Investments
Topic: Where should I invest my 401(k) and future taxable money?
Replies: 8
Views: 1543

Thank you - that helps a lot. Any opinions from others would also be welcome.
by jmzf1958
Fri Nov 19, 2010 8:59 am
Forum: Personal Investments
Topic: Where should I invest my 401(k) and future taxable money?
Replies: 8
Views: 1543

Thanks for responding. I do have other goals. I'd like to be able to go south two to three months a year, renting a condo or house, and I'd also like to be able to leave my children some money. I am fortunate to have my healthcare covered for life through the State of New York and Medicare. I just need to make small monthly premium payments. The three Vanguard funds sound like to way to go for me. I would put 40% in bonds. What would your recommendation be on how to divide the 60% through the two other funds? Should I go ahead and invest it soon or wait for the dips? Livesoft, you say my income will be enough to live on. Do you think it will be enough up to age 90 taking into consideration inflation? Also, do I need to save the $1,000 to $1...
by jmzf1958
Fri Nov 19, 2010 6:10 am
Forum: Personal Investments
Topic: Where should I invest my 401(k) and future taxable money?
Replies: 8
Views: 1543

No, I don't mind sharing, but I was really hoping someone would respond to my questions. I worked as a court reporter for 23 years in supreme and county courts in and for New York State and developed back and neck problems and carpal tunnel syndrome and could not continue working. I was 44 and hoped to work until I was at least 55. I'm very fortunate to have the income I have now, but I would have been much better off financially if I had been able to continue working. $18,600/year is from a private disability insurance policy that I paid for through the years before I couldn't work any longer. (Highly recommend. Unfortunately, I didn't get the cola option.) This continues until age 65. $20,800 is from New York State workers comp, being hur...
by jmzf1958
Thu Nov 18, 2010 8:40 pm
Forum: Personal Investments
Topic: Where should I invest my 401(k) and future taxable money?
Replies: 8
Views: 1543

I spend $80,000 to $85,000 a year. Spending will be less after my two children graduate from college in May and become self-supporting.
by jmzf1958
Thu Nov 18, 2010 9:29 am
Forum: Personal Investments
Topic: Where should I invest my 401(k) and future taxable money?
Replies: 8
Views: 1543

Where should I invest my 401(k) and future taxable money?

Hi. I have a 401(k) account that is presently in cash. I'd like to get back into the market for the long term using Vanguard. I'd like some advice on where and when to invest this money, plus future taxable contributions. I've posted before in regard to my portfolio, but my financial circumstances have changed, so I need new advice. My situation is this: Emergency Funds: 1 to 2 months and continuing to build it up. Debt: Mortgage - $100,000 with $97,000 balance to be paid off in 12.5 years 15 year bi-weekly at 4.125%. Payment of $372 every two weeks. Rental income of $1500/month pays mortgage, taxes, and insurance. Home value is $180,000. Home equity loan - $110,000 to be paid off in 10 years. 10 years at 4%. Payment of $1113/month. Home va...
by jmzf1958
Sat Oct 23, 2010 2:44 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Hi. Great suggestion. I will start a new thread soon. When I started out, I had thought I'd had my home sold and would be moving, so I started this thread giving money amounts I thought I'd have when I closed. My home did not sell, so I'm going to start this over in the next few days with exactly what my situation is now. Thank you, everyone!
by jmzf1958
Fri Oct 22, 2010 10:33 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Thanks for trying to help. I've had the heloc on my home for a year now. I've had to take more out on it to do some more renovations to the rental property to be able to get the $1500/month rent, plus some unexpected expenses came up. But my situation seems to be ever changing lately, so I think I'll ask for advice when things settle down. Judy
by jmzf1958
Thu Oct 21, 2010 10:39 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Hi! Thanks for responding so quickly. The heloc is not on the rental property. It's on the home I live in. Yes, it did get bigger in the last few months.
by jmzf1958
Thu Oct 21, 2010 9:00 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Retiredjg, and everyone else, thanks for all of your help. I will be going with the index funds, for sure. I'd like to get some opinions from all of you. My primary house has been on the market for a year and a half now, and the price is $279,000. If I'm lucky, I'll come out of it with $265,000. At this price, I feel like I'd be giving it away. I was going to move into the rental house I have which is worth about $175,000. I'm reconsidering selling the house I live in now because the market is so bad. I have a one year lease on the rental property with good tenants who pay rent that covers the expenses. My plan was to sell the house I'm in, pay off the now $100,000 heloc, pay off the $100,000 mortgage on the rental property, pay off my now ...
by jmzf1958
Wed Oct 20, 2010 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing
Replies: 15
Views: 2410

How can you refinance a mortgage with no closing costs? My credit union is offering 3.5% for 15 years, zero points with about $2800 in closing costs, but if there's something better out there, I'd like to check it out. Where would I go to find these mortgages, and are they easy to deal with and safe? Thanks.
by jmzf1958
Wed Oct 06, 2010 7:27 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Hi. I've read your suggestions. The idea of a target date retirement fund sounds very simple, and I like the fact that they rebalance automatically. Would I put all the money in the one target date fund? Is the SPIA like a variable annuity? What is the reason for waiting until I'm older to get it?
Have you heard of the Nationwide Destination B variable annuity? It guarantees to double your money in ten years. When would be the right time to get back in the market and how should I go about it? Thanks. Judy
by jmzf1958
Tue Sep 28, 2010 3:29 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Unfortunately, no. Made some financial and investing mistakes and raised my two kids pretty much on my own without a lot of financial help and put them through college (almost).
by jmzf1958
Tue Sep 28, 2010 2:24 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

No. My IRA ($190,000) is in cash in an account at Scottrade.
by jmzf1958
Tue Sep 28, 2010 1:04 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Hi again! I definitely want to sell my house - it's 2300 sq. feet and on five acres. I'm divorced and hire most everything out. My son helps out, also, but he'll be gone in a year or so after college. My daughter, 25, will graduate with her masters in May, and she won't be back to live at home. The taxes and expenses on my primary residence are higher than another house would be. Also, if I sell, I can pay off the heloc, car and rental home. I'd have no debt plus a little more in the bank for emergencies. I've also thought about keeping the rental as an investment and buying another house for myself with some of the proceeds of the sale of my primary residence. I could probably buy a home for around $120,000 to $130,000. I'd also pay off th...
by jmzf1958
Tue Sep 28, 2010 10:38 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

I know this is confusing. Things have changed a lot. I'll try to clear this up. I had projected I'd have $160,000 in a taxable account (I almost sold my home at more than what it's on the market for now, but sale didn't go through.) I did cash out a taxable fund and paid off my primary house, part of the land, and a different car. Current debts: $100,000 mortgage, 15 year biweekly at 4.125% on rental property (Payments of $380.00 every two weeks.) $19,000 car loan, 2 years 3 months left to pay, at 3.74%. $85,000 heloc at 4% variable (with 2% cap each year, lifetime of 6%, and this will not reset until August of 2011.) Part of the land and improvements to my rental property make up this heloc. TOTAL: $204,000 Assets: $280,000 - primary home ...
by jmzf1958
Mon Sep 27, 2010 4:52 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

To answer some questions, my expenses will be around $4,500/month after my house is sold, and I'll have up to $100,000 to invest in addition to the $190,000. My previous stocks/bonds ratio was 85%/15%. The reason I'm asking if my monthly income is enough to retire on is because my advisor doesn't think it is and says I should save $14,000/year until age 65 in addition to selling my house so I'd have up to $100,000 to invest.

I need a second opinion from this board. I think my stocks to bonds ration should be around 70/30 or 60/40.
by jmzf1958
Mon Sep 27, 2010 1:48 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

I'm getting workers comp (NYS lifetime payments of $400/week, no offset), and I'm also getting SSD, which will be SS when I am 65. The $4500 figure includes vacations, emergency fund and savings. I have lifetime medical through my New York State pension, so health care isn't an issue. I cannot get long term care insurance because of my disability. I am concerned about inflation and the cost of living having an effect on my monthly income. There is no COLA for the workers comp and about a 1 1/2% COLA on my pension up to $18,000. SS has a COLA. I hope this helps with any opinions of my situation! Judy
by jmzf1958
Sun Sep 26, 2010 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Should I sell my houses now or wait for "recovery"
Replies: 11
Views: 3943

I do take responsiblity for all of this. I usually cross the t's and dot the i's, but didn't this time. I live in a small town and everyone knows each other, so I wouldn't bring a lawsuit against them. I decided to ask my tenant to leave and luckily, I have a tenant who is going to rent both the house and apartment for $1500/month. It will work out well for them. I still have the house I live in for sale. The same real estate agent had it listed for a year starting in May of 2009. I switched to a much better agent in March of this year and have had quite a few showings. Everyone loves it but nobody has put an offer in. The price started out at $329,000 (too high to begin with) and is now down to $279,900. I won't go any lower. My realtor th...
by jmzf1958
Sun Sep 26, 2010 5:39 pm
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

Thanks for all your opinions. I did not go with the stockbroker. ResNullis, previously you said I could live off of my monthy income from pension, ss, and workers comp. My financial advisor (who, of course, wanted me to invest through her), told me I should be saving an additional $14,000 per year up to age 65. I have been saving and will continue to do so, but I got a bit worried when she said I don't have enough monthly income to live in retirement without saving this $14,000/year. She also said I needed to sell my house (worth about $280000 now, started out at $329,000 a year and a half ago, and put part of the proceeds into investments.) My expenses in retirement will be about $4500/month at the most. The rest of my income will go into ...
by jmzf1958
Sun Aug 29, 2010 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should I sell my houses now or wait for "recovery"
Replies: 11
Views: 3943

Another question, with the loss I'm taking and what I'm putting into the rental, does anyone have any idea how much I'll get back on taxes?
by jmzf1958
Sun Aug 29, 2010 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Should I sell my houses now or wait for "recovery"
Replies: 11
Views: 3943

Should I sell my houses now or wait for "recovery"

Hello. I've got myself in a situation with owning two houses and land, and I'm not sure what to do. Any advice would be appreciated! I live in a suburb of Syracuse, New York. I own the house I live in that is has been for sale for a year and a half. I started out asking $329,000 and have reduced it to $289,000. (Real estate agent did not price it correctly). I have a heloc of $90,000 on it at 4%, variable, due to adjust (no more than 2%) August of 2011, 25 year heloc with payments of around $450 a month. $50,000 of this heloc has been/will be used for improvements to the house below. Last August, I bought another house that has a one bedroom apartment intending to live in the house and rent the apartment for $600 a month after my house sold...
by jmzf1958
Wed Jul 28, 2010 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance with Death Benefit - Can't get Longterm Care
Replies: 6
Views: 1306

Thanks for the responses. Makes sense to forget about insurance and just put money into the market. $75,000 forty years from now is no deal. These sales people try to be your friend and sound so logical. I needed the reality check from this board.
by jmzf1958
Wed Jul 28, 2010 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance with Death Benefit - Can't get Longterm Care
Replies: 6
Views: 1306

Good point! I didn't receive anything when my parents passed away - in fact, I helped them through the years. I think it would be nice to leave something for them to make their lives a little easier.
by jmzf1958
Wed Jul 28, 2010 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance with Death Benefit - Can't get Longterm Care
Replies: 6
Views: 1306

Life Insurance with Death Benefit - Can't get Longterm Care

HI. I'm about 52 and on disability. After talking to a financial advisor, she suggested I look into buying long term care insurance. We found out I couldn't get it because of one of the medicines I take for my disability. She suggested I buy a $250,000 life insurance policy instead so if I need to go into a long term care facility and use up my money, at least I will have this money to leave to my two kids. This would cost me about $2400/year. Assuming I live to 92 years old, I'll have paid $96,000 in premiums, so I'd have $154,000 free and clear. (The kids would receive $250,000 - I'll have paid the premiums through the years.) I'm not sure this is such a good idea. This does not have an inflation rider, so what would it really be worth in...
by jmzf1958
Wed Jul 28, 2010 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in Real Estate
Replies: 24
Views: 3923

Investing in Real Estate

I'm thinking of investing in rental properties as part of my plan for my retirement. The other part would be keeping what I have in my 401K, social security, and my pension. I am now on disability receiving the SS and Pension along with a private disability policy. I have one house I am renting out now that covers the expenses. With the state of the stock market now, I was considering buying one or two more rental properties instead of investing in the stock market. I won't need any of the money for at least 15 years. I know houses have gone way down in value, so it seems to be a good time to buy, and usually houses appreciate over time. Also, what do you think of using my 401K for rental property? Anyone have any opinions on all of this? T...
by jmzf1958
Mon May 10, 2010 8:01 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

cONFUSED! WHAT SHOULD I DO WITH MY PORTFOLIO?

so if I invest $350,000, I'd lose $147,000, plus I'd lose one percent of any contributions?
by jmzf1958
Mon May 10, 2010 6:34 am
Forum: Personal Investments
Topic: Confused! What should I do with my portfolio?
Replies: 47
Views: 9512

CONFUSED! WHAT SHOULD I DO WITH MY PORTFOLIO?

Who would I go to to help with the roth conversion? If I switch to vanguard, would they help with that? Also, how much more over the long term would I pay in expenses, etc, going with the advisor's funds versus vanguard? I've heard the difference can be a lot. Thanks. Judy