Search found 3275 matches

by BruDude
Fri May 29, 2020 2:03 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

Please stay on-topic, which is about the watch. You are more than welcome to discuss "High performance driver education" in a new thread. Back to watches.... My favorite microbrand Zelos is taking a big leap and making a swiss-made tourbillon for ~$11k. Their most expensive watch prior to this was ...
by BruDude
Fri May 29, 2020 1:54 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

Have you considered HPDE (High performance driver education?) basically its taking your car on a road course and learning to take it to 10/10. It gives a bit more reason in owning a fancy sports car. Many who do this regularly recommend only using a car you can comfortably lose. Not because you wil...
by BruDude
Fri May 29, 2020 1:44 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

Have you considered HPDE (High performance driver education?) basically its taking your car on a road course and learning to take it to 10/10. It gives a bit more reason in owning a fancy sports car. Many who do this regularly recommend only using a car you can comfortably lose. Not because you wil...
by BruDude
Fri May 29, 2020 1:37 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

So why do people buy these things again? We're going in circles. Why not buy a Ferrari too. It is a much nicer car than your Honda civic. Why not buy 2000 dollar alligator shoes too. They are much nicer than your reebok hightops*. Why not a private plane , much better than flying commercial. * A st...
by BruDude
Thu May 28, 2020 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 365
Views: 31032

Re: JPM Chase Reserve Card gets more expensive

Considering the new changes, extra benefits for lyft/doordash, and $300 travel credit remaining intact for $450, I will keep it for at least another year.
by BruDude
Tue May 26, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Worst House on the best block?
Replies: 52
Views: 4322

Re: Worst House on the best block?

You can always change how the house looks or what's in it, but you can't change the location.
by BruDude
Tue May 26, 2020 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Service that finds best life insurance for you?
Replies: 7
Views: 402

Re: Service that finds best life insurance for you?

Any independent agent can do this. Term4sale should give you the contact info for 3 agents after you enter the information and request additional help. You may also want to ask family/friends that you trust if they can recommend anyone they've worked with.
by BruDude
Fri May 22, 2020 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: 20 year Term Life insurance—keep or renew?
Replies: 21
Views: 1307

Re: 20 year Term Life insurance—keep or renew?

I would have no issue using Sagicor. I tend to agree that you're better off just buying a new $1.25MM policy at a cheaper rate than holding the 2 separate policies, but Valuethinker's point about the advantage of being able to drop 1 of the policies if you hold 2 is true. Honestly, either way you g...
by BruDude
Thu May 21, 2020 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Ages 48-54: Should we bother converting Term-to-75 to Level Term 20 policies?
Replies: 8
Views: 561

Re: Ages 48-54: Should we bother converting Term-to-75 to Level Term 20 policies?

Match the insurance to the need. If your wife is worried about the loss of your income, the first question is how much longer are you going to work if you don't die? Lets say 10 years for this example. If you make $100K a year you might think you need a million dollars of life insurance, but life i...
by BruDude
Thu May 21, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed 5/5 ARM Covid-19 Reset Offer?
Replies: 11
Views: 893

Re: Penfed 5/5 ARM Covid-19 Reset Offer?

I have a 5/5 ARM and called the other day to ask if they're offering any sort of loan modification to existing customers and they told me no, there is nothing like that. This might be a targeted offer based on how long you have before the reset. Mine just reset last August so there's more than 4 ye...
by BruDude
Thu May 21, 2020 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1576
Views: 144323

Re: Refinance Mega Thread

I applied for a 15-year refi yesterday. Have been holding off for a 2.5% rate so that I could refi around 2.75-3.0% with no out of pocket cost. The stated rate from the credit union was 2.75% with 0 points, but if I took 2.875%, they'd give me a $2700 lender credit. That seems like a huge credit for...
by BruDude
Thu May 21, 2020 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed 5/5 ARM Covid-19 Reset Offer?
Replies: 11
Views: 893

Re: Penfed 5/5 ARM Covid-19 Reset Offer?

I have a 5/5 ARM and called the other day to ask if they're offering any sort of loan modification to existing customers and they told me no, there is nothing like that. This might be a targeted offer based on how long you have before the reset. Mine just reset last August so there's more than 4 yea...
by BruDude
Thu May 21, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Ages 48-54: Should we bother converting Term-to-75 to Level Term 20 policies?
Replies: 8
Views: 561

Re: Ages 48-54: Should we bother converting Term-to-75 to Level Term 20 policies?

NWM isn't really competitive for term life insurance. As someone else said, start checking rates at term4sale.com and you will probably find that to be the case. There is really no reason to stick with NWM if purchasing a new policy unless you feel some sense of loyalty to your agent if they are a f...
by BruDude
Wed May 20, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: 20 year Term Life insurance—keep or renew?
Replies: 21
Views: 1307

Re: 20 year Term Life insurance—keep or renew?

Thanks everyone....I really appreciate your feedback. To answer some questions: Wife Insurance: My wife has a 350K policy for another good for another 16 years. It may be a bit low but it would give me a cushion to either pay off the house or just get by and I feel it is enought to get through our ...
by BruDude
Wed May 20, 2020 9:33 am
Forum: Personal Finance (Not Investing)
Topic: 20 year Term Life insurance—keep or renew?
Replies: 21
Views: 1307

Re: 20 year Term Life insurance—keep or renew?

Dropping the current policy sounds questionable since you've paid for the risk-adjusted "worst" years already. I would definitely not drop it for a new 20 year policy of the same amount. $750K also sounds like you are under-insured in the early years. If you died tomorrow, would your wife and kids ...
by BruDude
Tue May 19, 2020 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: 20 year Term Life insurance—keep or renew?
Replies: 21
Views: 1307

Re: 20 year Term Life insurance—keep or renew?

What is the logic of cancelling a current level term policy to buy a new one? A level term policy should be averaging each year's insurance cost (which goes up each year) to get the annual premium. So you overpay in the early years and make up for it in the later years. Cancelling a 20 year level t...
by BruDude
Tue May 19, 2020 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: 20 year Term Life insurance—keep or renew?
Replies: 21
Views: 1307

Re: 20 year Term Life insurance—keep or renew?

A few questions/observations from an insurance agent as I see these type of questions all the time: 1. Does your wife have any life insurance? If not, what's the plan if she dies while the children are young? 2. $750k seems like a pretty low amount given your income and having three young children. ...
by BruDude
Tue May 19, 2020 10:25 am
Forum: Personal Consumer Issues
Topic: Some possible luxury SUV choices to buy: Opinions?
Replies: 188
Views: 13950

Re: Some possible luxury SUV choices to buy: Opinions?

Certified pre-owned Macan S/GTS/Turbo, or buy from Carmax and get a 5-year 100k warranty for ~$3k. Best luxury SUV on the market in that price range. Cayenne if you need the extra space, but the PDK transmission in the Macan is worlds better.
by BruDude
Mon May 18, 2020 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance- What to do at end of Term?
Replies: 37
Views: 2463

Re: Term Life Insurance- What to do at end of Term?

Pregnancy doesn’t effect life insurance rates at all. Complications of pregnancy can. Some companies will postpone a decision until after birth if in the third trimester.
by BruDude
Mon May 18, 2020 3:11 am
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance- What to do at end of Term?
Replies: 37
Views: 2463

Re: Term Life Insurance- What to do at end of Term?

$500k is a pretty low amount of coverage if you’re planning on kids. Your income wasn’t stated but at your age I’d be looking at a minimum of $1M total for each of you. Raising the 20 year policy to $750k isn’t that expensive.
by BruDude
Thu May 14, 2020 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance- What to do at end of Term?
Replies: 37
Views: 2463

Re: Term Life Insurance- What to do at end of Term?

Most companies offer 30-year term, sounds like you spoke with someone that works for a company that only goes up to 20-year max like Northwestern Mutual or Ohio National. There are several companies that offer 35-year and 40-year term now too. I would suggest working with an independent broker that ...
by BruDude
Wed May 13, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1576
Views: 144323

Re: Refinance Mega Thread

I just wanted to share an amazing rate I just locked. Apparently UWM has new insane pricing.. I just locked in a 30 year conventional loan for 2.875% . And its better than no cost - covering all costs plus also $1,000 of my escrow payment . This is in AZ. I would suggest finding a broker that works...
by BruDude
Fri May 08, 2020 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: PPP - Reduce Salary?
Replies: 12
Views: 1232

Re: PPP - Reduce Salary?

Thanks guys. I guess I will just keep my salary as it was, and be ready to repay a portion of the loan. Don’t forget that health insurance costs qualify for forgiveness as well, at least based on what guidance we’ve seen so far. Depending how much cash you have available, the idea of using retireme...
by BruDude
Thu May 07, 2020 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: PPP Loan Withdrawal Deadline Extended--Self-Employed
Replies: 6
Views: 367

Re: PPP Loan Withdrawal Deadline Extended--Self-Employed

If they had clearly defined what that statement means, it would be easier to determine whether you should qualify or not. Since that is a very vague and broad statement and there is so much uncertainty regarding businesses in all types of industries, at this time I would say that it is probably safe...
by BruDude
Thu May 07, 2020 11:34 am
Forum: Personal Finance (Not Investing)
Topic: PenFed - Mortgage deferment letter explanation
Replies: 6
Views: 607

Re: PenFed - Mortgage deferment letter explanation

I spoke with PenFed mortgage today and here is what they clarified: 1. Yes, the interest payment is still owed at the end of the loan, even if that is 29 years from now. 2. If you do not pay the principal portion of the payment for the month, you would wind up paying more every single month for howe...
by BruDude
Wed May 06, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed - Mortgage deferment letter explanation
Replies: 6
Views: 607

Re: PenFed - Mortgage deferment letter explanation

According to the mortgage guy, it is as expected - the payment due is chopped out of the loan and added to the back end. If there was an additional interest payment due, it would have increased my principal balance owed.
by BruDude
Wed May 06, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed - Mortgage deferment letter explanation
Replies: 6
Views: 607

PenFed - Mortgage deferment letter explanation

Here is the official letter I received from PenFed about mortgage deferment for those interested, personal info removed. This is different than forbearance as the payment is added to the end of the loan, not due after forbearance period. https://i.imgur.com/S9fEcrh.jpg I'm not sure how this affects ...
by BruDude
Tue May 05, 2020 1:05 pm
Forum: Personal Consumer Issues
Topic: Why doesn't Porsche have better resale value?
Replies: 50
Views: 5393

Re: Why doesn't Porsche have better resale value?

An oil change is $150 at an indy shop and lasts for a year. Most non-German cars are $30-60 for an oil change and need to be done at least twice a year. There's nothing special about Porsches and oil change intervals. Different manufacturers have different recommendations, but you can get away with...
by BruDude
Tue May 05, 2020 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: [thinking about buying a house in LA, wait for RE crash?]
Replies: 56
Views: 3316

Re: do you expect there to be a housing market crash? If so, when?

I've been in the market for a new house and nearly signed a contract before COVID came around. Prices in my area haven't budged. Sellers are just waiting it out and builders have yet to offer any type of significant incentives (in fact, most aren't offering any at all). The neighborhood I was lookin...
by BruDude
Tue May 05, 2020 12:40 pm
Forum: Personal Consumer Issues
Topic: Why doesn't Porsche have better resale value?
Replies: 50
Views: 5393

Re: Why doesn't Porsche have better resale value?

Porsche's have by far the best resale value of any German car manufacturer. Audi/BMW/Mercedes have awful resale value almost across the board on newer cars, with a mix of some older sportier cars holding value relatively well after the initial drop-off (BMW E9x M3, Audi RS4, etc). Your average luxur...
by BruDude
Tue May 05, 2020 11:33 am
Forum: Personal Investments
Topic: DAD Trying to accumulate wealth for his lil Girl (Special Needs)
Replies: 27
Views: 3791

Re: DAD Trying to accumulate wealth for his lil Girl (Special Needs)

Disclaimer - I'm an insurance agent but have dealt with many of these SNT scenarios before. OP may very well be a very financially responsible person (as I would expect since he is posting here), but I think Miriam2 has hit the nail on the head. Special needs children can be VERY expensive with a lo...
by BruDude
Tue May 05, 2020 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Easy $200 from Penfed?
Replies: 52
Views: 5408

Re: Easy $200 from Penfed?

I got the same email yesterday and signed up for an account. Seems easy enough.
by BruDude
Mon May 04, 2020 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 4771

Re: Delay mortgage payments under CARES Act

The deferment is different than forbearance. You have to pay it all at once at the end of the forbearance period. The deferment moves the payment to the end of the loan, so it is effectively getting a free month of not paying interest if the interest does not continue accruing during that month. Fr...
by BruDude
Mon May 04, 2020 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 4771

Re: Delay mortgage payments under CARES Act

Update - my PenFed "next payment" date has been changed to June 1 and I have not paid the May 1 payment yet. The principal balance is exactly the same as last month down to the penny, no interest added. They still have no formal guidance on the interest accrual, I have asked two of their mortgage p...
by BruDude
Mon May 04, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 4771

Re: Delay mortgage payments under CARES Act

Update - my PenFed "next payment" date has been changed to June 1 and I have not paid the May 1 payment yet. The principal balance is exactly the same as last month down to the penny, no interest added. They still have no formal guidance on the interest accrual, I have asked two of their mortgage pe...
by BruDude
Sun May 03, 2020 10:19 pm
Forum: Personal Consumer Issues
Topic: Best [BBQ grill] for the money?
Replies: 94
Views: 6278

Re: Best BBQ for the money?

Traeger.

/thread
by BruDude
Fri May 01, 2020 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance and Recent Alcohol Rehab (USA)
Replies: 17
Views: 1220

Re: Term Life Insurance and Recent Alcohol Rehab (USA)

This is the exact type of information I was looking for and I totally appreciate it. I was planning to PM you but wanted to make it public as there is a good probability someone in my shoes will need this information in the future. (1) In the eyes of insurance is moderation ever acceptable as deter...
by BruDude
Fri May 01, 2020 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Expenses used for PPP loan forgiveness not deductible
Replies: 19
Views: 1371

Re: Expenses used for PPP loan forgiveness not deductible

Interesting, thanks for posting. So if I have this right, the 2 months of payroll (and any other expenses) paid for by the PPP loan aren't deductible to the business, at least not if the loan is forgiven. But the forgiven loan itself won't be treated as income either, so that just prevents a double...
by BruDude
Fri May 01, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance and Recent Alcohol Rehab (USA)
Replies: 17
Views: 1220

Re: Term Life Insurance and Recent Alcohol Rehab (USA)

Without sugarcoating anything, I will say that you are going to be uninsurable until at least February 2021 assuming you stay 100% sober. Even though the weed is legal, for someone with a history of substance abuse, it is going to be an automatic decline until you quit all forms of alcohol and drug ...
by BruDude
Wed Apr 29, 2020 11:15 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

Like many other posts on here, this is anecdotal. BUT, in 2010 I was part of a small team that closed a large investment commitment with a fund manager. We committed to invest $300mm with one specific manager. when the deal closed, 5 of us on the deal team received "Kermit green" submariner Rolex w...
by BruDude
Wed Apr 29, 2020 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 284
Views: 42131

Re: 30 year mortgage under 3%

ecotone87 wrote:
Wed Apr 29, 2020 10:08 pm
Locked in 2.875% 30 year conventional with $500 rebate today. 20% down. Getting counter offer from another lender. Crazy low for new home buyer and educational debt.
Was that with PenFed? I still haven't seen any 30-year rates under 3% for a refinance.
by BruDude
Wed Apr 29, 2020 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Is my employer health insurance "affordable"?
Replies: 9
Views: 658

Re: Is my employer health insurance "affordable"?

You are correct, they only look at the cost of employee-only coverage. If your employer is paying 100% of employee-only premium, you will not be eligible for a subsidy.
by BruDude
Sun Apr 26, 2020 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Something different...do I need life or disability insurance?
Replies: 30
Views: 1224

Re: Something different...do I need life or disability insurance?

Thankfully my fiancee and I do not have any outstanding debts/loans. One more questions for you guys: I anticipate that my future job/employer will offer disability and life insurance as in the case for most radiology groups. If that's the case, as a graduating resident right now, going on to fello...
by BruDude
Sun Apr 26, 2020 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Something different...do I need life or disability insurance?
Replies: 30
Views: 1224

Re: Something different...do I need life or disability insurance?

How do I know the prices are historically accurate/appropriate? for example, 30yr term for 4m is about $220/month right on now terms4sale. how do i know this is a good price point? what if last yr, this same policy costs only $150/month? is there a way to compare today's prices with historical pric...
by BruDude
Fri Apr 24, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 1576
Views: 144323

Re: Refinance Mega Thread

Long time lurker here. Thanks to this forum for suggesting Northpointe. We just locked a cash out refi 2.75 for 30yrs. Under $1200 closing costs. Truly the unicorn mortgage. This is coming from a 3.5 fixed 30. Can you provide details? Home value, mortgage amount, state, etc? Their website shows 3.2...
by BruDude
Fri Apr 24, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Something different...do I need life or disability insurance?
Replies: 30
Views: 1224

Re: Something different...do I need life or disability insurance?

Thankfully my fiancee and I do not have any outstanding debts/loans. One more questions for you guys: I anticipate that my future job/employer will offer disability and life insurance as in the case for most radiology groups. If that's the case, as a graduating resident right now, going on to fello...
by BruDude
Fri Apr 24, 2020 12:17 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

I bought a 280 dollar gucci watch recently and had to think about it for a couple of days. "it's Gucci time!"I'm sure watch guys would scoff at Gucci but who wants to have a beer with a watch guy? There are so many more interesting things that thousands will fetch than a watch. My gucci looks nice ...
by BruDude
Fri Apr 24, 2020 12:01 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

You totally missed the point if you thought I was comparing a quartz watch to a rolex. The "same thing" is you're just wasting money either way. The gucci watch owner only paid a mere hundred or so more than a timex owner. The rolex owner paid thousands more. And again if mechanical watches can be ...
by BruDude
Fri Apr 24, 2020 10:52 am
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

I bought a 280 dollar gucci watch recently and had to think about it for a couple of days. "it's Gucci time!"I'm sure watch guys would scoff at Gucci but who wants to have a beer with a watch guy? There are so many more interesting things that thousands will fetch than a watch. My gucci looks nice ...
by BruDude
Fri Apr 24, 2020 1:37 am
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 1464
Views: 321693

Re: Best watch for around $5,000?

I bought a 280 dollar gucci watch recently and had to think about it for a couple of days. "it's Gucci time!"I'm sure watch guys would scoff at Gucci but who wants to have a beer with a watch guy? There are so many more interesting things that thousands will fetch than a watch. My gucci looks nice ...