Search found 1399 matches

by gr7070
Tue Sep 29, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Cash out refi for a rental property we're re-occupying
Replies: 5
Views: 289

Re: Cash out refi for a rental property we're re-occupying

Today it's a rental. Without fraud, I can't imagine getting a loan any other way "today". That'll bump your rate at least a point??? More with some lenders. Cash out refi of a rental will bump it even further. I wouldn't think rates jump a couple percent between now and when your tenant vacates. Mak...
by gr7070
Tue Sep 29, 2020 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a lake house with my parents
Replies: 31
Views: 2482

Re: Purchasing a lake house with my parents

Based on the comments, it seems like the cleanest idea would be for my parents to gift us the money as an early inheritance. They would then file a gift tax form. This would become my portion of the inheritance with my siblings getting something else. We could then figure out whatever arrangement f...
by gr7070
Tue Sep 29, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Friend on the verge of financial ruin, how to help?
Replies: 103
Views: 11002

Re: Friend on the verge of financial ruin, how to help?

The personal experiences have been helpful to read, so far it doesn't appear that ongoing financial contributions in these types of situations have made much difference to the people in need. I am beginning to think that a flat gift with no strings attached is the best approach. What makes you thin...
by gr7070
Mon Sep 28, 2020 10:58 am
Forum: Personal Investments
Topic: Need help with my investment plan after reading Larry Swedroe
Replies: 48
Views: 3250

Re: Need help with my investment plan after reading Larry Swedroe

Would it be bad to have more exposure to small and mid cap? I read that small cap historically has performed well and is a reasonable risk considering potential returns. Bad? No. Needed? Definitely not. Reasonable? I suppose since historically a small and value tilt is optimal. I used to do the sma...
by gr7070
Mon Sep 28, 2020 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Friend on the verge of financial ruin, how to help?
Replies: 103
Views: 11002

Re: Friend on the verge of financial ruin, how to help?

:twisted: So let's see if I understand this: Your friend has had a very unstable work history for twenty years with multiple instances where she is about to be fired due to poor work performance but is able to move to another job just before that occurs. Now you indicate that she is again about to b...
by gr7070
Mon Sep 28, 2020 1:18 am
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 89
Views: 6225

Re: DIY life style. Typical Boglehead?

I have always DIYed plenty. Though, for years have had a maid - always will! I have found that the older I get (late to 40s) and the more money I've accumulated that has shifted. Especially noticed a significant change in my attitude around my mid-40s. While I feel I have plenty of free time, I'm un...
by gr7070
Mon Sep 28, 2020 1:02 am
Forum: Personal Consumer Issues
Topic: Heating System Tune Ups Necessary Every Year?
Replies: 14
Views: 1669

Re: Heating System Tune Ups Necessary Every Year?

I am in the minority, but I never pay annual maintenance on anything. Heating system included. Ditto, other than car fluids. I just replaced the HVAC in a rental house. Had to 35+ years old. In my 20 years owning never once had it checked, and maybe never even had to repair it that I recall. Not th...
by gr7070
Mon Sep 28, 2020 12:54 am
Forum: Personal Finance (Not Investing)
Topic: Would you pay off a 1.5% school loan
Replies: 27
Views: 1959

Re: Would you pay off a 1.5% school loan

Are your cars paid off? If yes, why don't you take out car loans at roughly that same rate?
by gr7070
Mon Sep 28, 2020 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Investing and Saving Considerations for Single Guy
Replies: 50
Views: 3116

Re: Investing and Saving Considerations for Single Guy

You might want a slightly bigger EF since you have a higher income risk than a two income family. Six months minimum??? Maybe 8 months?
by gr7070
Sat Sep 26, 2020 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: New job and moving next year
Replies: 4
Views: 646

Re: New job and moving next year

Just recognize that there is no guarantee you will be hired for this job. 9 to 12 months from now is an eternity from now. There are many, many things that can happen to you, the current employee, the future employer, etc that may change your current expectations. Understand that and plan accordingl...
by gr7070
Sat Sep 26, 2020 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing--now what?
Replies: 4
Views: 402

Re: Refinancing--now what?

I would add though that if the Op isn’t maximizing all tax-advantaged accounts available to her/him, to put the extra funds towards that before considering anything else. This! Fill up your 401k/Roth IRA, HSA if you have one first. After that I highly recommend paying extra on a mortgage. Splitting...
by gr7070
Sat Sep 26, 2020 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 81
Views: 5268

Re: Should I go for online Will making software?

Jumping on this thread rather than starting a new one.... Live in CA Single Renter, don't own any property All investment accounts have beneficiaries listed Only thing of real value I even have is my car Any suggestions for someone in my shoes? Do I really need a will? I guess there is the health c...
by gr7070
Fri Sep 25, 2020 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for a downpayment - little by little, or later lump sum?
Replies: 20
Views: 1409

Re: Saving for a downpayment - little by little, or later lump sum?

In part, the delay is because I don’t want to create a negative net worth by taking on a mortgage for 1.2M when my net worth is 600k (and lower after down payment) FYI that's not possible. Your net worth won't change any, ignoring closing costs, if you pay market rate. Only the asset class will shi...
by gr7070
Fri Sep 25, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Saving for a downpayment - little by little, or later lump sum?
Replies: 20
Views: 1409

Re: Saving for a downpayment - little by little, or later lump sum?

Why do you need to save for a house downpayment? You only need 300K aka 20% for the 1.5M house and you are saving 160K per year into the taxable account. Between your annual taxable saving and your emergency fund, you can "cash flow" your house down payment. This. Currently I have $420k in a taxabl...
by gr7070
Fri Sep 25, 2020 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: At what networth is okay to splurge on a 200k car ? (Tesla roadster)
Replies: 159
Views: 10343

Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

As long as you're saving enough to retire at your projected retirement age you may do whatever you wish with your disposable income. One can question how wise some purchases are. I don't think there is a true minimum net worth. One could be young with a high salary, low net worth and appropriately j...
by gr7070
Fri Sep 25, 2020 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Large Nest Egg...should I run a deficit to pay a larger mortgage?
Replies: 40
Views: 2917

Re: Large Nest Egg...should I run a deficit to pay a larger mortgage?

How to decide the value of downpayment vs investment? is it (DP+tot(mortgage)) - (investmentValue)? It seems that over time, investing the extra chunk of cash provides a better NET than placing that into the mortgage downpayment. Advice on if I'm looking at the wrong deciding factor? You must inclu...
by gr7070
Thu Sep 24, 2020 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 81
Views: 5268

Re: Should I go for online Will making software?

The only wrinkle I have is old trust/will from another state from 10 years back. Can the online software take care of Reinstation? IANAL I know very little of trusts. This might be a complexity that necessitates using a lawyer. It might not, as well. ??? I'd start by reading those existing docs. If...
by gr7070
Thu Sep 24, 2020 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 81
Views: 5268

Re: Should I go for online Will making software?

The verbiage needed in a simple if-I-die-spouse-gets-it-then-kids-split-it-if-she's-gone will is incredibly simple. I can't fathom why one would bother with a lawyer in those situations. As mentioned already lawyers screw things up all the time. Even good ones can make mistakes. In order to pick a g...
by gr7070
Tue Sep 22, 2020 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 15785

Re: Physicians: Should I leave my job?

The job market in my field is OK right now, but it is rapidly tightening and I anticipate it will be outright bad in 3-5 years. I am worried that if I don't leave now, I won't be able to in 5 years. If it's potentially as bad as you describe wouldn't this similarly impact any business you started? ...
by gr7070
Fri Sep 18, 2020 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Where to put emergency fund money?
Replies: 20
Views: 1867

Re: Where to put emergency fund money?

I keep three months in HYS and three months in taxable mutual funds.

There is no need to have all your EF in cash.
by gr7070
Fri Sep 18, 2020 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 7
Views: 471

Re: Life Insurance

You didn't state if you actually *need* her $1400 monthly. If not, she doesn't need life insurance. If yes, she needs term life insurance. It's that simple. $1400 per month for 7 years is about 100k. Just to get a feel. So 200k might be too much. There might also be a minimum amount you can get and/...
by gr7070
Thu Sep 17, 2020 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for retirement in mid 30s
Replies: 311
Views: 20664

Re: Preparing for retirement in mid 30s

I wouldn't want to plan for 45k expense needs in retirement. Not that my vote matters. Regardless of that, one thing posts here seem to miss is potential future income after, say, a 10 year sabbatical. I don't doubt that it would be difficult to get a job making a $200k inflation adjusted income aft...
by gr7070
Sat Sep 12, 2020 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Buying a home.. Which is the better way to finance?
Replies: 6
Views: 825

Re: Buying a home.. Which is the better way to finance?

Risk: it's better to have the mortgage on a rental.

Taxes: it's better to have the mortgage on a rental.
by gr7070
Thu Sep 10, 2020 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Suggesting BIL use Roth Contributions to pay off credit card
Replies: 17
Views: 1067

Re: Suggesting BIL use Roth Contributions to pay off credit card

I would never pay off debt by robbing retirement savings.

With somewhat lower balances he can reasonably pay this off. That learned budgeting would also pay dividends the rest of his life.
by gr7070
Wed Sep 09, 2020 10:45 pm
Forum: Personal Consumer Issues
Topic: How to watch Football (NFL/NCAA) this Season ?
Replies: 21
Views: 1354

Re: How to watch Football (NFL/NCAA) this Season ?

You can plug a digital antenna into your TV and set the receiver in a nearby window. They're dirt cheap ($25). A 7 year old could do it. If you don't want the thing in your window permanently you can set it up on Sundays only. It's pretty unassuming with blinds and valances, etc. Granted the antenna...
by gr7070
Wed Sep 09, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund Question
Replies: 11
Views: 942

Re: Emergency Fund Question

how much to allocate to the EF. 3-6 months expenses, max. You especially don't need more if you live in a two-income family. 6 months is still plenty in single income family. It also doesn't all need to be liquid or ridiculously safe. Especially the bigger it is. If you actually were to go with 100...
by gr7070
Wed Sep 09, 2020 9:10 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 8397

Re: What % of income to spend on car?

Everything about this post feels like a troll.

You're a 30 year old man living at home? Do not borrow money from your parents.

A 2 year old Toyota/Honda is some of the worst value in cars. May as well buy new; better to buy a 4+ years old.

"Fun" would be the last descriptor of an Accord.
by gr7070
Tue Sep 08, 2020 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Should I be aggressively paying down mortgage to ditch PMI instead of investing in taxable account?
Replies: 24
Views: 1738

Re: Should I be aggressively paying down mortgage to ditch PMI instead of investing in taxable account?

Yes.

And at your income and modest principal remaining I'd continue paying some extra to rid yourself of the mortgage in a reasonably short time.
by gr7070
Tue Sep 08, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Emergency Fund vs. Debt Paydown
Replies: 21
Views: 1329

Re: Emergency Fund vs. Debt Paydown

It sounds like you have a child with some special needs that may incur unexpected costs. If so, keep the EF where it's at and then aggressively pay down debt. Focus on long-term future. Get on a budget. Pay off all debt. Then increase retirement saving to 15% minimum. Save up 6 month EF. Save up hou...
by gr7070
Tue Sep 08, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Should I Cancel Husband's Term Insurance?
Replies: 41
Views: 3264

Re: Should I Cancel Husband's Term Insurance?

A very quick and back of the envelope guesstimate says that you should obtain a million dollar, ten year term policy on your husband and then cancel the current policy. That's exactly what I had thought, as well. Maybe 1.5M or even 2 is better than 3M for 22. I'm not a fan of over-insuring, but hav...
by gr7070
Fri Sep 04, 2020 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage balance at 4.375 interest...next steps?
Replies: 7
Views: 809

Re: Mortgage balance at 4.375 interest...next steps?

If you're planning to do a contingency buy I'd continue to aggressively pay down the mortgage. Unless it's a truly no-cost refi it makes no sense to refi. With such a low balance you likely won't get ultra low rates. That's been the case for me looking for a rental refi - I get charged an added rate...
by gr7070
Fri Sep 04, 2020 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Bankrupt Brother Needs Mortgage Help
Replies: 46
Views: 3771

Re: Bankrupt Brother Needs Mortgage Help

I need strategy advice to help him. Another cleaner option would be for you to buy the house and then lease it to him with the option to buy it at a set price when he is able to. Maybe a ten year lease, that would give him plenty of time improve his credit or save up enough to pay cash for the hous...
by gr7070
Thu Sep 03, 2020 11:32 am
Forum: Investing - Theory, News & General
Topic: Need Help Breaking Through a Mental Accounting Block
Replies: 25
Views: 1929

Re: Need Help Breaking Through a Mental Accounting Block

My portfolios are based on what they're invested for, which largely comes down to investment duration. Retirement 75:25 College, glide fund Emergency fund 30:70 (35 is cash) That's about it for me. All three have a different allocations. One of those is far larger, far more important, and scrutinize...
by gr7070
Thu Sep 03, 2020 9:08 am
Forum: Personal Investments
Topic: How to invest for my house?
Replies: 7
Views: 668

Re: How to invest for my house?

I suspect you're not getting a ton of responses as it's not an easy decision. You're in the border of short and long term investing. I'd likely go with a total stock index fund and reassess every year. I would not reassess based on returns, but how far away the purchase is. When you get under, say 3...
by gr7070
Wed Sep 02, 2020 10:59 am
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

Are you considering your pay increases over the next 20 years in your calculation? Thanks carolinaman. Yes and no. I did consider the potential for salary increase. However, I assumed I'll sever employment two years from now for my comparison. Thus salary and pension income won't change much in the...
by gr7070
Wed Sep 02, 2020 8:56 am
Forum: Personal Investments
Topic: 2 Fund portfolio Bond question
Replies: 15
Views: 862

Re: 2 Fund portfolio Bond question

Thanks for the replies. I always worry about being a little too conservative. I have been trying to keep it simple. I normally don’t tweak my account, but was just looking over the bond funds while I was helping my mother-in-law go from stocks to bonds. For starters, you're fine where you're at. 60...
by gr7070
Tue Sep 01, 2020 5:59 pm
Forum: Personal Investments
Topic: 400k cash, fear of inflation
Replies: 46
Views: 4212

Re: 400k cash, fear of inflation

Lynx310650 wrote: Tue Sep 01, 2020 5:34 pm I don't think there's any reason to panic or do anything drastic until the elections,
$400,000 in cash and no investments. I'd call that doing something drastic!
by gr7070
Tue Sep 01, 2020 5:53 pm
Forum: Personal Investments
Topic: Husband doesn’t want to follow my investment plan
Replies: 47
Views: 4859

Re: Husband doesn’t want to follow my investment plan

If he's unwilling to spend that minimal amount of time education himself tell him he's divested himself of the right to vote on these matters. Lol! I'm sure that will go over well. There may have been a little tongue in cheek there. At the same time I expect my spouse to act like a big girl, she ex...
by gr7070
Tue Sep 01, 2020 4:08 pm
Forum: Personal Investments
Topic: Husband doesn’t want to follow my investment plan
Replies: 47
Views: 4859

Re: Husband doesn’t want to follow my investment plan

Ask your husband to read Mike Piper's 100-page book Investing Made Simple.

If he's unwilling to spend that minimal amount of time education himself tell him he's divested himself of the right to vote on these matters.
by gr7070
Tue Sep 01, 2020 3:09 pm
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

Is it a COLA pension? No COLA. Usually, it is a no-brainer decision to buy service time. That is why so many pension systems have curtailed it. A quick skim of your circumstances indicate that it is not a no-brainer decision. If you were going to stick around for another decade and receive some pay...
by gr7070
Tue Sep 01, 2020 3:04 pm
Forum: Personal Investments
Topic: 400k cash, fear of inflation
Replies: 46
Views: 4212

Re: 400k cash, fear of inflation

put the rest in savings accounts because the idea of double taxation (taxed on income and then taxed again when investing) concerned me and kept me away. You're avoiding being taxed on investment gains by having no investment gains. That is penny wise and pound foolish. You're basically turning dow...
by gr7070
Tue Sep 01, 2020 2:37 pm
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

I am with a state pension plan too but don’t quite understand why you need to buy service time now. I am just contributing normally-like 10% of my salary as required & my employer matches 14%. Rest of the money is being invested in a deferred plan (outside the pension plan)-kind like 401K (you pick...
by gr7070
Tue Sep 01, 2020 1:12 pm
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

Although I think the assumptions on investing and SWR are wildly optimistic, I'm surprised the pension purchase doesn't come out farther ahead. But given those assumptions I probably wouldn't buy the time. Curious which numbers you feel are optimistic. I'm not beholden to any of the numbers. The mo...
by gr7070
Tue Sep 01, 2020 1:01 pm
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

I am with a state pension plan too but don’t quite understand why you need to buy service time now. I am just contributing normally-like 10% of my salary as required & my employer matches 14%. Rest of the money is being invested in a deferred plan (outside the pension plan)-kind like 401K (you pick...
by gr7070
Tue Sep 01, 2020 11:26 am
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

Are you considering your pay increases over the next 20 years in your calculation? Thanks carolinaman. Yes and no. I did consider the potential for salary increase. However, I assumed I'll sever employment two years from now for my comparison. Thus salary and pension income won't change much in the...
by gr7070
Tue Sep 01, 2020 10:43 am
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

Does gender and being 70 yo when the benefit kicks in matter in the decision? Does providing for a surviving spouse play into the decision? Gender shouldn't for my comparisons, since it is a constant. ; ) Excellent point and something I considered. Yes, a surviving spouse option does change the num...
by gr7070
Tue Sep 01, 2020 10:38 am
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Re: Buying Pension Time

You're doing some good math, but here are some caveats: 1. It's really not apples-to-apples to compare the pension and deferred annuity options to what you would do with a portfolio. It's much more appropriate to adopt a very conservative, potentially all-bond portfolio, to make the comparison. You...
by gr7070
Tue Sep 01, 2020 10:12 am
Forum: Personal Investments
Topic: Tips on investing play money
Replies: 37
Views: 2075

Re: Tips on investing play money

I fully subscribe to indexing and many of the core investing principles often discussed on this forum. I am thinking about taking a certain amount of money and designate it as play (gambling) money. It would strictly be invested in stocks. Looking for any tips, websites or anything that would help....
by gr7070
Tue Sep 01, 2020 9:50 am
Forum: Personal Investments
Topic: Buying Pension Time
Replies: 21
Views: 1245

Buying Pension Time

I'm 49, employed by my state government and will eventually qualify for the pension. I have the ability to buy added service time that will eventually bring added pension income. Cost today $6158 Added income $812 annually, starting 20.5 years from now. Should I buy the extra time? I ran numbers thr...
by gr7070
Mon Aug 31, 2020 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Financial guidance for my 30-something niece
Replies: 9
Views: 1197

Re: Financial guidance for my 30-something niece

For starters, agree with the forum suggestions. She's mid-30s, lives incredibly frugally on 35k in NY metro area, has 20k to her name. Giving advice on what to do with that 20k or an emergency fund are immaterial at this moment. She needs to focus on her long-term financial success; largely her care...