Search found 614 matches

by jimmyrules712
Thu Feb 25, 2021 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford?
Replies: 26
Views: 2327

Re: How Much House Can I Afford?

Have you calculated what you will need to maintain your desired standard of living for retirement? If not I think you need to do that first and see how much money you have leftover to spend on the house.
by jimmyrules712
Thu Feb 25, 2021 12:33 pm
Forum: Investing - Theory, News & General
Topic: Why the disdain for managed funds like ARKK that destroy total market funds?
Replies: 502
Views: 39310

Re: Why the disdain for managed funds like ARKK that destroy total market funds?

Back when I started investing for the first time in 2010 I asked why shouldn't I just put everything in a handful of international / emerging market funds because at the time US large cap and US tech stocks had a horrible 10 year performance history while international had done amazing over the prev...
by jimmyrules712
Thu Feb 25, 2021 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

I'm going to beat that timeline by far apparently: August 7th 2020 - Locked Rate November 16th 2020 - Sent to processing February 1st 2021 - Submitted to underwriting I look forward to my Loan Cabin closing sometime in 2022 at this rate. I would ask your LE to confirm that's really where your loan ...
by jimmyrules712
Tue Feb 23, 2021 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Loan Cabin refinance is finally complete and closed friday on the 6th month anniversary of when I locked with them. Timeline: Jul 24th 2020 - Applied Aug 5th 2020 - Locked Rate Sep 25th 2020 - Submitted to underwriting Oct 4th 2020 - Appraisal Conducted Dec 8th 2020 - Out of underwriting Jan 14th 2...
by jimmyrules712
Tue Feb 23, 2021 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Loan Cabin refinance is finally complete and closed friday on the 6th month anniversary of when I locked with them. Timeline: Jul 24th 2020 - Applied Aug 5th 2020 - Locked Rate Sep 25th 2020 - Submitted to underwriting Oct 4th 2020 - Appraisal Conducted Dec 8th 2020 - Out of underwriting Jan 14th 2...
by jimmyrules712
Tue Feb 23, 2021 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Umbrella: Significant Increase in Premium
Replies: 89
Views: 10081

33% Cost Increase For Geico Umbrella Policy

[Thread merged into here --admin LadyGeek] My Geico $1MM umbrella policy is due for it's annual renewal and I've been informed the price is going up 33% from $250 to $333. I haven't made any claims under the policy and have not had any changes in my circumstances that should affect the rate. I call...
by jimmyrules712
Wed Feb 10, 2021 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Reserve vs Amex Platinum
Replies: 47
Views: 4032

Re: Chase Sapphire Reserve vs Amex Platinum

I just downgraded my Sapphire Reserve to a Sapphire preferred and plan to switch my usage primarily to my existing Freedom Unlimited. My main usage of the Sapphire Reserve was dining out but now that the Freedom Unlimited offers 3% points on dining out I don't need the Reserve for that but I do stil...
by jimmyrules712
Mon Feb 08, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Loan Cabin refinance is finally complete and closed friday on the 6th month anniversary of when I locked with them. Timeline: Jul 24th 2020 - Applied Aug 5th 2020 - Locked Rate Sep 25th 2020 - Submitted to underwriting Oct 4th 2020 - Appraisal Conducted Dec 8th 2020 - Out of underwriting Jan 14th 20...
by jimmyrules712
Mon Jan 04, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Got my stimulus check, how about you?
Replies: 212
Views: 15855

Re: Got my stimulus check, how about you?

Got my $1800 for my family of 3 this morning. Also was notified this morning by my employer that they screwed and under withheld my 2020 federal tax withholding by $1725 from a bonus I got earlier this year so I'm going to owe that much more with my tax return. So the stimulus money is just going fr...
by jimmyrules712
Sun Dec 20, 2020 2:51 pm
Forum: Personal Investments
Topic: Best place to open a solo 401k?
Replies: 66
Views: 3390

Re: Best place to open a solo 401k?

Yes, we know. You have been wrong all of the other times you have suggested a SEP IRA over one-participant 401k and you are wrong yet again. It shows yet again why accountants are the last place to go for employer retirement plan advice. It is a real shame that you have probably cost some of your c...
by jimmyrules712
Sun Dec 20, 2020 2:39 pm
Forum: Personal Investments
Topic: Extra money, Solo 401K?
Replies: 27
Views: 1001

Re: Extra money, Solo 401K?

Best option is to have your spouse open a solo 401k and contribute the max allowed for him based on his self-employment income. If you've already maxxed out your regular 401k then you wouldn't be able to put much in a solo 401k that's in your name.
by jimmyrules712
Fri Dec 18, 2020 9:35 pm
Forum: Personal Investments
Topic: Roth vs Traditional for my situation?
Replies: 24
Views: 1786

Re: Roth vs Traditional for my situation?

Since you're considering Roth vs traditional solo 401(k) you're not actually looking at a 22% marginal tax rate savings, you're looking at a 22% x (100% - 20%) = 17.6% marginal tax rate savings because you'll lose the 20% Qualified Business Income deduction on a traditional solo 401(k) contribution...
by jimmyrules712
Thu Dec 17, 2020 9:03 pm
Forum: Personal Investments
Topic: Roth vs Traditional for my situation?
Replies: 24
Views: 1786

Re: Roth vs Traditional for my situation?

I have done extensive reading on the roth vs traditional debate so I'm fairly well versed in the pros and cons of each but would like opinions on my situation. I'm married, early 30's, current combined taxable income before any retirement contributions is about $180k. I currently max out my 401k so...
by jimmyrules712
Thu Dec 17, 2020 1:13 pm
Forum: Personal Investments
Topic: Roth vs Traditional for my situation?
Replies: 24
Views: 1786

Re: Roth vs Traditional for my situation?

After maxing out my 401k our budget has room for another $10k to $15k in retirement contributions and I'm trying to decide between butting it in our 2 Roth IRAs and my wife's roth solo 401k or putting it all in my wife's traditional solo 401k. Assuming you've already paid tax on this money at 22% (...
by jimmyrules712
Thu Dec 17, 2020 9:14 am
Forum: Personal Investments
Topic: Roth vs Traditional for my situation?
Replies: 24
Views: 1786

Re: Roth vs Traditional for my situation?

How does your estimated marginal tax rate in retirement compare with your current rate? This is a complicated question with a complicated answer. Are we talking about the period of time between early retirement and 65? Between early retirement and taking SS which I assume i wouldn't do until 70? Or...
by jimmyrules712
Wed Dec 16, 2020 11:56 pm
Forum: Personal Investments
Topic: Roth vs Traditional for my situation?
Replies: 24
Views: 1786

Roth vs Traditional for my situation?

I have done extensive reading on the roth vs traditional debate so I'm fairly well versed in the pros and cons of each but would like opinions on my situation. I'm married, early 30's, current combined taxable income before any retirement contributions is about $180k. I currently max out my 401k so ...
by jimmyrules712
Mon Dec 14, 2020 8:47 am
Forum: Personal Consumer Issues
Topic: Toilet Crack Repair Products
Replies: 120
Views: 5140

Re: Toilet Crack Repair Products

I like my toilet and newer ones have a lower gallons per flush rate. Don't be afraid of the newer low GPF toilets. I recently replaced all 3 90's era ~5 GPF toilets in my house with American Standard Cadet toilets (1.28 GPF, $170 at home Depot) and they flush 10x better than the old ones did at 1/4...
by jimmyrules712
Fri Dec 11, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Hi all, just an update on my Loan Cabin woes. I finally got through underwriting (applied in July), but the guy handling the final paperwork quit without telling anyone. Now once again I'm back to not being able to communicate with anyone. My loan officer will rarely answer calls, texts, or email, ...
by jimmyrules712
Thu Dec 10, 2020 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Hi all, just an update on my Loan Cabin woes. I finally got through underwriting (applied in July), but the guy handling the final paperwork quit without telling anyone. Now once again I'm back to not being able to communicate with anyone. My loan officer will rarely answer calls, texts, or email, ...
by jimmyrules712
Mon Dec 07, 2020 1:30 pm
Forum: Investing - Theory, News & General
Topic: Is it really worthwhile to save HSA funds instead of using them now?
Replies: 104
Views: 8521

Is it really worthwhile to save HSA funds instead of using them now?

I've seen it stated numerous times that you're better off saving HSA funds so they can grow tax free rather than using them for immediate medical expenses but I'm having trouble understanding why I should prioritize doing that over just putting more pre-tax money into my traditional 401k. Here's a h...
by jimmyrules712
Fri Dec 04, 2020 11:12 am
Forum: Personal Investments
Topic: Questions about early retirement planning, Roth ladder, and funding the first 4 years
Replies: 2
Views: 261

Questions about early retirement planning, Roth ladder, and funding the first 4 years

I am on track to have more than enough savings to have the option to retire early between 45 and 50 but want to make sure I have a good plan for funding things until I hit 59½ and can withdraw from my 401k penalty free as right now 95% of my funds are in pre-tax accounts, most in my employer 401k. I...
by jimmyrules712
Fri Dec 04, 2020 9:00 am
Forum: Investing - Theory, News & General
Topic: Anybody self employed with a profit sharing 401k?
Replies: 10
Views: 814

Re: Anybody self employed with a profit sharing 401k?

My wife is self employed and I helped her set up a solo 401k with Fidelity. It's not that big of a deal. Going forward I actually recommend using e-trade as they allow mega backdoor Roth solo 401k. We don't contribute enough to need it but if we could use it I would move her account to there. We cho...
by jimmyrules712
Wed Dec 02, 2020 9:05 pm
Forum: Personal Investments
Topic: How to calculate future SS benefit when retiring early?
Replies: 3
Views: 435

Re: How to calculate future SS benefit when retiring early?

This is the best tool I found to estimate future social security based on personal scenario. You'll need to create an account for social security administration to download your prior year SS contribution. The tool allows you to set future year SSA earning and etc. Have fun. :beer https://ssa.tools...
by jimmyrules712
Wed Dec 02, 2020 8:51 pm
Forum: Personal Investments
Topic: How to calculate future SS benefit when retiring early?
Replies: 3
Views: 435

How to calculate future SS benefit when retiring early?

I'm in my mid 30's and trying to figure out what I should expect to eventually get from SS so I can estimate what my target savings rate needs to be. The scenario I'm planning for is retirement in my early 50's with about 27 years of high career earnings where I paid into SS, and then begin withdraw...
by jimmyrules712
Mon Nov 30, 2020 10:51 am
Forum: Personal Investments
Topic: Re-entering the market in 2020
Replies: 24
Views: 2043

Re: Re-entering the market in 2020

In March, at the onset of the coronavirus, I took out about 50% of my savings...My thought was I will sell it while it is high...and then re-enter the market once it goes down. The time to "sell while it is/was high" was February. If you sold in March then you sold after the market alread...
by jimmyrules712
Tue Nov 24, 2020 11:21 am
Forum: Personal Investments
Topic: Retirement Portfolio for Parents
Replies: 5
Views: 768

Retirement Portfolio for Parents

My dad is 65 and retiring at the end of the year (mom, age 54, doesn't work) and I'm helping him plan his portfolio and would like feedback. His plan is to delay SS until at least 67.5 at which point his benefit should be about $31,000 a year. Mom will get a SS benefit of about $7,000 a year when sh...
by jimmyrules712
Mon Nov 02, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Consequences of income falling below the FPL for ACA subsidy?
Replies: 7
Views: 697

Re: Consequences of income falling below the FPL for ACA subsidy?

“Intentional or reckless disregard of the facts” is a very strong statement. If she initially provided her household income to the Marketplace in good faith and her income changed, she should have updated the Marketplace with revised income figure within a reasonable amount of time. However, she co...
by jimmyrules712
Mon Nov 02, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Consequences of income falling below the FPL for ACA subsidy?
Replies: 7
Views: 697

Re: Consequences of income falling below the FPL for ACA subsidy?

You can find the answers in IRS pub 974 on page 4 and instructions for Form 8962 Line 6 on page 8. https://www.irs.gov/pub/irs-pdf/p974.pdf https://www.irs.gov/pub/irs-pdf/i8962.pdf Thanks for the links. I skimmed through them and it looks like the text relevant to my question is Line 6 in the Form...
by jimmyrules712
Sun Nov 01, 2020 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Consequences of income falling below the FPL for ACA subsidy?
Replies: 7
Views: 697

Consequences of income falling below the FPL for ACA subsidy?

I have a family member who lives in a state that has not expanded Medicaid and has very inconsistent income usually right around the federal poverty limit. It’s a 50/50 tossup whether she will end up above it or below it by the end of next year. She wants to apply for an ACA plan assuming her income...
by jimmyrules712
Sat Oct 17, 2020 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Quick question for the group. I'm like 75 days into my Loan Cabin refinance and they just asked me if they could charge $285 to my credit card to get "condo disclosure documents" and a "condo certification" from my HOA because they said that's what my HOA quoted them for the doc...
by jimmyrules712
Fri Oct 16, 2020 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Quick question for the group. I'm like 75 days into my Loan Cabin refinance and they just asked me if they could charge $285 to my credit card to get "condo disclosure documents" and a "condo certification" from my HOA because they said that's what my HOA quoted them for the docu...
by jimmyrules712
Mon Oct 12, 2020 7:58 am
Forum: Personal Investments
Topic: Take pension as $550k lump sum or $2,400 monthly annuity?
Replies: 29
Views: 5751

Re: Take pension as $550k lump sum or $2,400 monthly annuity?

How much is the mortgage? And if he took the lump sum and paid the mortgage off with a portion that could be a significant lessening of the $60k needed. I believe it's around $100k. Capacity to manage is important, here. Can the OP work out an arrangement with father that OP manages the money? I th...
by jimmyrules712
Sun Oct 11, 2020 5:36 pm
Forum: Personal Investments
Topic: Take pension as $550k lump sum or $2,400 monthly annuity?
Replies: 29
Views: 5751

Re: Take pension as $550k lump sum or $2,400 monthly annuity?

I’m not sure how much they would get from social security but his income has been basically the same with just annual ~2% COL raises for decades. Deciding if they should take the pension or lump sum should be done in conjunction with deciding if when they should start Social Security. This website ...
by jimmyrules712
Sun Oct 11, 2020 4:56 pm
Forum: Personal Investments
Topic: Take pension as $550k lump sum or $2,400 monthly annuity?
Replies: 29
Views: 5751

Re: Take pension as $550k lump sum or $2,400 monthly annuity?

If your parents need guaranteed income, then the first thing they should do is go to ssa.gov and obtain an estimate of social security benefits for your father and your mother. If they need $60k pretax, the combination of social security and the pension monthly will likely provide about $45-50k pre...
by jimmyrules712
Sun Oct 11, 2020 4:37 pm
Forum: Personal Investments
Topic: Take pension as $550k lump sum or $2,400 monthly annuity?
Replies: 29
Views: 5751

Take pension as $550k lump sum or $2,400 monthly annuity?

My dad is considering retiring and asked me if I thought he could and if he should take his pension as a $550k lump sum or an annuity that would pay out $2,400 a month for life with no inflation adjustment and with a 75% survivor benefit for my mom if he dies first. He is in his late 60s in good hea...
by jimmyrules712
Mon Oct 05, 2020 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Which commuting route is, financially speaking, better?
Replies: 23
Views: 1993

Which commuting route is, financially speaking, better?

This might seem like an odd and insignificant question to pose to the community but every morning when I leave for work I have a mental debate what route is "least expensive" to take and I can't decide what the right answer is. Here's the details. I live in a suburb of a major metro area a...
by jimmyrules712
Tue Sep 29, 2020 3:15 pm
Forum: Personal Consumer Issues
Topic: Vacuum for mostly hardwood floors...
Replies: 48
Views: 2916

Re: Vacuum for mostly hardwood floors...

So I was similarly looking to buy a good quality vacuum while back for a mostly hardware/tile house. Ended up getting a decent Riccar from a vacuum store. But since then we also bought one of the robot vacuum's (specific a Roborock S5 from Amazon refurbished for $320) and honestly if we run that th...
by jimmyrules712
Tue Sep 29, 2020 2:00 pm
Forum: Personal Consumer Issues
Topic: Vacuum for mostly hardwood floors...
Replies: 48
Views: 2916

Re: Vacuum for mostly hardwood floors...

So I was similarly looking to buy a good quality vacuum while back for a mostly hardware/tile house. Ended up getting a decent Riccar from a vacuum store. But since then we also bought one of the robot vacuum's (specific a Roborock S5 from Amazon refurbished for $320) and honestly if we run that thi...
by jimmyrules712
Tue Sep 15, 2020 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Hello, I have LEs from LD and LC for a similar closing cost on 30yr fixed, 2.5%, $500 closing costs. Which one would you all suggest that I lock with among LD/LC? Is one of them better over the other in terms of processing pipeline, time to close or responsiveness? Would appreciate if folks who hav...
by jimmyrules712
Fri Sep 11, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Bet that 30-year mortgage rates are below 2.00% by July 2021
Replies: 37
Views: 3981

Re: Bet that 30-year mortgage rates are below 2.00% by July 2021

It really depends if we're talking about below 2% with standard closing costs (taxes, title insurance) or no closing costs. Someone posted on slickdeals just yesterday a loan estimate showing they got a 30 year 2.25% with a $574 lender credit but about $2,500 in closing costs (about $2,000 costs aft...
by jimmyrules712
Thu Sep 10, 2020 11:30 am
Forum: Personal Investments
Topic: Best Use of Roth Space?
Replies: 17
Views: 1317

Re: Best Use of Roth Space?

Between a Roth and a taxable account I would prioritize the Roth for the least tax efficient funds (REITs, high dividend stock funds, bonds, etc.).
by jimmyrules712
Wed Sep 09, 2020 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Geez LC keeps coming back with better deals, which I do not think WM can match even with a float down before our closing. Reason being is LC doesn't seem to charge anything in Item line A while WM has a $1500 fee. Just got an updated LE from LC, same rate as yesterday 2.625% but lender credit bumpe...
by jimmyrules712
Wed Sep 09, 2020 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Need some clarification on third party fees. These are supposed to be about the same evne if i shop around (it is for title isurance and settlement fee and appraisal) but i dont understand what the title closing coordination fee is. This below is from boxhomeloans and their guarenteed fees. But the...
by jimmyrules712
Wed Sep 09, 2020 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

What are the downsides with Loan Cabin? I read in this thread " They're good if you're not in a hurry... " - Is the application process slow? - Customer service is unresponsive? - Processing time is long? - How long should the rate lock be? (They present 15-day, 30-day, 60-day) - Is there...
by jimmyrules712
Fri Sep 04, 2020 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Where are you finding refinance rate of <2.5%?
Replies: 26
Views: 4771

Re: Where are you finding refinance rate of <2.5%?

Some of the people you see posting 2.5% and below are doing 20 year or 15 year loans. Some are using Owning which is CA only and has been offering no cost 2.5% off and on over the last 2 months. LenderFI has been offering 2.5% close to no cost 30 years for the most ideal situations. I am in TX and I...
by jimmyrules712
Mon Aug 24, 2020 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Tried to back door LenderFi, accidentally neglected to change the zip code, but filled in the info and it assigned a loan officer who is not licensed in my state. Now I am stuck and cant apply :oops: Can anyone recommend another solid lender who would be receptive to trying to beat my locked LE wit...
by jimmyrules712
Fri Aug 21, 2020 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Thanks for that perspective. I think I’m okay if that scenario plays out. What if rates go higher and I can’t even get 2.5% for $4,758? Plus, I feel like we are getting so low with rates that it’s almost free money. $4,758 for 2.375% over 30 years its only $1,722 in interest. Inflation alone more t...
by jimmyrules712
Fri Aug 21, 2020 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

trying to figure out if this is a good quote for refinance. $445k loan (closing costs rolled in) with 85% LTV. A + B + C + E = $4,758. 2.375% 30yr fixed. Its my 3rd house, so I think I finally know what I want (though of course job changes could always impact that), which means I plan to be here fo...
by jimmyrules712
Wed Aug 19, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 10050
Views: 710164

Re: Refinance Mega Thread

Lenderfi temporarily not taking any more load applications. Evidently, they have a backlog and cannot perform in the necessary time limits. Sounds like they are a good company. Are you saying this because of the message on their home page (which has been up for over a month now) or did you try appl...
by jimmyrules712
Wed Aug 19, 2020 9:21 am
Forum: Personal Consumer Issues
Topic: Anyone noticed La-Z-Boy quality has declined?
Replies: 31
Views: 4137

Re: Anyone noticed La-Z-Boy quality has declined?

Luke Duke wrote: Wed Aug 19, 2020 9:18 am I'm not sure that I know anyone under 65 that owns a recliner. Any youngsters on here that have one?
I do and I'm in my 30s.