Search found 43 matches

by beginner
Thu Feb 04, 2021 3:43 pm
Forum: Personal Investments
Topic: New doctors
Replies: 13
Views: 2161

Re: New doctors

Read white coat investor book
The White Coat Investor: A Doctor's Guide To Personal Finance And Investing https://www.amazon.com/dp/0991433106/re ... EZMHAPD990

Read “bogleheads guide to investing”

Live below your means.

Follow this flow chart:
https://www.reddit.com/r/personalfinanc ... ame=iossmf
by beginner
Thu Jan 28, 2021 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

So, it's not going so well with Better for me. I locked around Dec. 22 while on vacation, and had the appraisal done on Jan. 5. My lock expires next Friday (Feb. 5), and the appraisal still, more than 3 weeks later, hasn't come back. My better contact is telling me that there's an appraisal backlog in California, but isn't giving me any info on how they handle if the report comes back too late. (Last two refinances, the appraisal report came back in two days and six days, respectively.). Everything else is basically approved and ready to go. At this point, seems like there is very little hope of closing in time to beat the lock. Anyone having similar issues? Any thoughts on how to go from here? Repeatedly asking the Loan Processor hasn't m...
by beginner
Sun Dec 13, 2020 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

Data point:
Locked with better
435k loan in Tx.
2.0% 15 yr with $3244 credit.
by beginner
Fri Dec 11, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

Does anyone know lender fi 6 month policy details?
My last refi with them funded 6/29 making 12/29 6 months.

Can I go ahead and do application or do I need to wait until 12/29 to do application?

I emailed them but didn’t get an exact answer and I don’t want to take a credit hit unnecessarily.
by beginner
Thu Dec 10, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

I don't know if this is referenced on this long thread elsewhere but I like to use this calculator.

https://www.mtgprofessor.com/calculator ... tor3a.html
by beginner
Thu Nov 19, 2020 5:17 pm
Forum: Investing - Theory, News & General
Topic: Taylor Sends His Best to Fellow Bogleheads
Replies: 334
Views: 34157

Re: Taylor Sends His Best to Fellow Bogleheads

This mid 30's age user thanks you for all your wisdom and your service in the military. I wish you the best.
by beginner
Wed Jun 24, 2020 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

I closed today with lenderfi. 2.5% 15 yr no cost after credits. Smooth and efficient.

I noticed they will be servicing the loan (transferring to themself). Are they doing that now? I used them 9/2019 and they transferred it to Wells Fargo.
by beginner
Wed Jun 10, 2020 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

pkays wrote: Wed Jun 10, 2020 1:25 pm
beginner wrote: Tue Jun 09, 2020 10:52 pm Locked in 2.5% 15 year from Lenderfi. Credits should cover closing cost so I will only be paying prepaids at closing.

I am coming from a 3% 15 year that I refi'd about 6 months ago with lender fi also.
How much in credits did you receive? I am considering lenderfi for the same rate and period. Thx.

$2470
by beginner
Tue Jun 09, 2020 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1265481

Re: Refinance Mega Thread

Locked in 2.5% 15 year from Lenderfi. Credits should cover closing cost so I will only be paying prepaids at closing.

I am coming from a 3% 15 year that I refi'd about 6 months ago with lender fi also.
by beginner
Tue Jan 07, 2020 11:46 am
Forum: Personal Consumer Issues
Topic: How do YOU make coffee?
Replies: 342
Views: 30067

Re: How do YOU make coffee?

Order roasted beans from happymugcoffee online.

Grind with baratza virtuoso and make pour over every morning with hario v60.

25-30grams coffee. 16:1 water to coffee ratio.
by beginner
Sun Jul 07, 2019 5:37 pm
Forum: Investing - Theory, News & General
Topic: The Three Million Dollar Car
Replies: 25
Views: 3690

Re: The Three Million Dollar Car

I sent my wife this advice and she said “you can get a corolla and I’ll get a corvette “
by beginner
Tue Apr 30, 2019 9:44 pm
Forum: Personal Investments
Topic: Backdoor Roth - Does It Make Sense? Other Thoughts?
Replies: 5
Views: 668

Re: Backdoor Roth - Does It Make Sense? Other Thoughts?

mhalley wrote: Tue Apr 30, 2019 9:14 pm A couple of posts to review. First, from wci, pay off loans vs invest
https://www.whitecoatinvestor.com/stude ... investing/
Second. POF on the marginal utility of the backdoor Roth

https://www.physicianonfire.com/value-of-backdoor-roth/
I was fortunate to come out of med school with little debt, but I hated debt and paid it off ASAP, as well as paying off my mortgage and doing backdoor roths.
Thank you for the pof link. The math is nicely laid out
by beginner
Tue Apr 16, 2019 4:19 pm
Forum: Personal Investments
Topic: (Another) Should I invest in my non-govermental 457 (b) or something else?
Replies: 18
Views: 2460

Re: (Another) Should I invest in my non-govermental 457 (b) or something else?

Thank you everyone for your responses. Tax deferral on a highly tax efficient index ETF doesn't add a ton of value. Very True. i don’t use my nongov 457b from a similar stable hospital system. i don’t need to take the incremental risk, so I don’t. Summary: I ASSUME one would have clues prior to a 457b-affecting event, and have the option of leaving the job. But that may be a drastic move for many people (although, how stable is a physician job if there is a hospital bankruptcy, I wonder). I respect your opinion (and thanks for advice throughout the forum I've seen). Should I contribute max amount to my employers non govermental 457b or put money somewhere else? Taxable account? 529 (I have 2 kids)? Pay off mortgage? Split excess monthly mon...
by beginner
Tue Apr 16, 2019 2:38 am
Forum: Personal Investments
Topic: (Another) Should I invest in my non-govermental 457 (b) or something else?
Replies: 18
Views: 2460

Re: (Another) Should I invest in my non-govermental 457 (b) or something else?

letsgobobby wrote: Tue Apr 16, 2019 1:36 am
beginner wrote: Mon Apr 15, 2019 8:26 pm
Tax Rate: 2018 effective tax rate 17.8%
for this decision you marginal tax rate is what matters.

i don’t use my nongov 457b from a similar stable hospital system. i don’t need to take the incremental risk, so I don’t.
35% marginal. Edited original post.
Thanks.
by beginner
Tue Apr 16, 2019 2:35 am
Forum: Personal Investments
Topic: (Another) Should I invest in my non-govermental 457 (b) or something else?
Replies: 18
Views: 2460

Re: (Another) Should I invest in my non-govermental 457 (b) or something else?

Do you have a 403b option you can use - doesn't look like you've maxed that out yet. That's a safer option. But once you max that out, you may be asking the same question again. Read the wiki on 457b https://www.bogleheads.org/wiki/457(b) and pay particular attention to the problems with a nongovernmental 457b. They are risky. I would be very unlikely to use one as that money is subject to creditor claims against the nongovernmental employer - although a stable hospital might be something to consider. There's a lot of good information on the internet about the probems with nongov 457. I would invest in a governmental 457b providing fees are low enough. You might check out the whitecoatinvestor web site (you'll see them mentioned on this si...
by beginner
Mon Apr 15, 2019 8:26 pm
Forum: Personal Investments
Topic: (Another) Should I invest in my non-govermental 457 (b) or something else?
Replies: 18
Views: 2460

(Another) Should I invest in my non-govermental 457 (b) or something else?

Should I contribute max amount to my employers non govermental 457b or put money somewhere else? Taxable account? 529 (I have 2 kids)? Pay off mortgage? Split excess monthly money into a few of these? I max out 403b and HSA every year. Im a physician and my employee is a major hospital and is "stable". Here is how it is paid on separation: ------------------------------------------------- ""Distributions upon Separation of Employment 457 (b) Distributions from the Plan are defaulted to a Lump Sum distribution, paid 60 days following your Separation Date, unless you elect to postpone the timing of your distribution to a later date or elect to take your distribution in installment payments up to 10 years. You have 60 days ...
by beginner
Fri Nov 16, 2018 10:58 am
Forum: Personal Investments
Topic: Contribution limits question (Defined Contribution Limits)
Replies: 6
Views: 592

Re: Contribution limits question (Defined Contribution Limits)

The 403(b) and 457(b) are separate plans with their own limits. Don't add them together. I had this same question. Can you point me to the code or some other guidance that confirms this? Nothing I'm reading online makes this claim but several places hint to it; including the IRS site. I just can't find anything definitive on the matter. I found this on the IRS website: "Example You’re in a 457(b) and a 403(b) plan, and each plan allows the maximum deferrals for 2018. You may be able to defer: If you're under age 50: $18,500 to each plan in 2018 If you're age 50 or older in a governmental 457(b) plan: $24,500 to each plan if both plans allow age-50 catch-ups ($6,000 additional in 2018) If you're age 50 or older in a nongovernmental 457...
by beginner
Thu Nov 15, 2018 4:47 pm
Forum: Personal Investments
Topic: Contribution limits question (Defined Contribution Limits)
Replies: 6
Views: 592

Re: Contribution limits question (Defined Contribution Limits)

Earl Lemongrab wrote: Thu Nov 15, 2018 4:24 pm The 403(b) and 457(b) are separate plans with their own limits. Don't add them together.

Thanks!
by beginner
Thu Nov 15, 2018 3:36 pm
Forum: Personal Investments
Topic: Contribution limits question (Defined Contribution Limits)
Replies: 6
Views: 592

Contribution limits question (Defined Contribution Limits)

I have searched and cannot convince my self I have found the answer.
If I have the following available to me, and if I max out everything for 2019:

401k employer matching contribution 5% (1:1) of 403b (subject to max 280000):14k
457f employer contribution 3% (subject to max 280000): 8400
403b employee contribution: 19k
457b employee contribution: 19k

That will put me at total employer + employee contribution= 60400 which is >56K limit.

Do I contribute less to my employee contribution portion as to not exceed the 56K 2019 limit?

reference:
https://www.irs.gov/retirement-plans/co ... tributions

Thanks.
by beginner
Mon Oct 22, 2018 9:57 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 248
Views: 32275

Re: PSA: Don't buy a big house

I'm in TX also living in a mcmansion (4br, 3.5 bath, 3700 sq ft). Like most things in life, it is a cost/benefit analysis. The benefits of schools, location to "stuff", space when family visits, space for 2 kids (playroom), neighborhood pool, etc. outweigh the cost of high ceilings and other pains of a mcmansion in my situation . We have can lights with LED all throughout house and I have not had to change a bulb in 1 year. Funny you mention, I had to hunt down a fire alarm with low battery at 2am last week! I bought a 22ft gorilla adjustable ladder that gets almost anywhere I need it. I also see other negatives such as the cost to my wallet and environment of maintaining a lawn. Some data: Ours is brand new and sept '17 to sept '...
by beginner
Wed Aug 22, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else seen huge rise in TX insurance costs?
Replies: 27
Views: 2612

Re: Anyone else seen huge rise in TX insurance costs?

Austin area resident here. USAA renewal packet for homeowners ins. just came in. 21% increase (no claims) from 1800/yr to 2300/year. Contemplating whether to accept it as is. I have read/heard good things about USAA if I ever have to make a claim. Or shop around to possibly save???
by beginner
Thu Jul 26, 2018 11:03 am
Forum: Personal Consumer Issues
Topic: GPS tracker app?
Replies: 14
Views: 1433

Re: GPS tracker app?

I did find that battery life is better with Google map option and worse with the life 360.
As mentioned before all tracking apps will use battery and most people don't realize but Google maps is probably tracking them all the time unless you turn it off(that is a whole different can of worms...). So you probably won't notice a difference in battery life.
by beginner
Thu Jul 26, 2018 10:11 am
Forum: Personal Consumer Issues
Topic: GPS tracker app?
Replies: 14
Views: 1433

Re: GPS tracker app?

I have android and my wife has iphone. We have recently used life 360 app but I noticed constant notifications of "updating location" and also battery drain so I uninstalled. I have used glympse with cycling but I dont think you can set it to track indefinitely.

Our solution was to use google maps app. There is a location sharing option under settings and your child would send that access to you.You can choose to send with no expiration. You can then "pin" it to home screen and just press on it like an app and it pops up their location.
by beginner
Sun Jan 28, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with excess money?
Replies: 12
Views: 1776

Re: What to do with excess money?

in your position , with 3000.00 month left after expenses I would do the following. !. Sell the car with the 33,000 dollar loan balance and buy a reliable brand used car for 12,000 dollars taken from my emergency fund 2. Reimburse the emergency fund with the 650 car payment plus 850 from your 3000 monthly excess over the next 8 months. 3. Add 350 to the other monthly car payment and pay that one off over the next year. 4. Add 800 to the monthly TSP loan payment and pay that off in the next 8 months. 5. Refinance the house over 20 years.That may raise the monthly payment about 500. To that payment add another 500 to prepay principal and continue this addition indefinitely. You ll then pay the house off in about 16 years. That will be a good...
by beginner
Sun Jan 28, 2018 10:46 am
Forum: Personal Finance (Not Investing)
Topic: What to do with excess money?
Replies: 12
Views: 1776

Re: What to do with excess money?

stan1 wrote: Sun Jan 28, 2018 10:23 am I'd pay off car loans first and then the TSP loan to start. After that start a taxable investing account. I would not start paying off the mortgage faster until you 1) had the student loans paid by others/forgiven and 2) had a six figure taxable investing account.
I like this.

Thanks stan...and thanks everyone else for taking time to read and reply.
by beginner
Sun Jan 28, 2018 10:42 am
Forum: Personal Finance (Not Investing)
Topic: What to do with excess money?
Replies: 12
Views: 1776

Re: What to do with excess money?

I am curious. It looks like you have about 5k per monh of debt. You make at least 16k a month. So that leaves you with 11k -4k of "free money" or 7 k for non debt living expenses. Where does the money go? Monthly budget looks like= 6k essential bills: towards mortgage(no pmi, property and insurance included), bills, groceries, transportation,life insurance, disability insurance, car insurance, yearly job certs 3.3k: towards minimum car loan payment and minimum student loan payment. Tsp loan payment of $600 biweekly is not counted towards take home and is taken out of paycheck. 2-3k approximately towards non-essential items such as dining out, wife and kid random stuff, wife gym membership, saving toward vacation/hobbies, lawn car...
by beginner
Sun Jan 28, 2018 9:09 am
Forum: Personal Finance (Not Investing)
Topic: What to do with excess money?
Replies: 12
Views: 1776

What to do with excess money?

I need some guidance on where to put my excess money. I have a stable job as a physician (I'm 31y/o) working for the government with a 3 month emergency fund, about 110K in retirement accounts, disability, and 2mm term life insurance. Married, filing jointly with a stay at home wife and 2 kids. I max out my tsp and hsa yearly. Also have prn job that 20% of paycheck goes towards 457 which I contributed about 8K in 2017. Budget everything via ynab. Monthly take home about 16-20K (after taxes, health/dental, tsp, tsp loan, etc) depending on the month and how much extra I work. I have about 3-4K left per month after minimum debt payments. Debts: Mortgage: 473K -> 30 yrs @ 4% ( $3K/ mo, no pmi) Car loan 1: 11K @ 3% ($650/ mo, 2015 with 64K miles...
by beginner
Sat Aug 05, 2017 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Home buying advice. Stuck in lease. Options?
Replies: 9
Views: 1131

Re: Home buying advice. Stuck in lease. Options?

Thank you everyone for taking your time to read and reply. for some follow up: -We are prequalified not pre approved. I confused the terminology. -we also have a real estate agent and are currently looking when homes fit what we want -We are looking at houses that feed to the same middle school so moving in the middle of the school year will not matter. -I would say the market is currently not as "hot" as it was a few months ago. Homes are still going in a day or two but there are many more that are sitting for weeks and inventory is going up. -most of the houses we are looking at will require some updating (which we want) so it may be beneficial to have our current residence that we rent for a little longer and pay "double&q...
by beginner
Sat Aug 05, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Home buying advice. Stuck in lease. Options?
Replies: 9
Views: 1131

Home buying advice. Stuck in lease. Options?

We (Wife, 2 kids, me) are currently searching for a house. We are in a rent house/lease until may 2018. We are in TX and love the area we are in because of the schools, proximity to family, and my work. It is for sure where we want to buy. Financial details: age 31 for me and wife is employed as stay at home mom Gross yearly: 330K (1 year out of residency, anesthesiologist) Cash saved: 48K E-fund: 15k Retirement saved: 101K (max out tsp, 2nd job contribute 20% to 457, have HSA that I contribute to, I end up saving about 40K/yr) From sept '16 to now ynab has said I have net +5600/ month calculating income-expenses. Debt: 2 cars: 49K @3% making minimum payments 13K private loans @ 5% paying 2K a month *139K federal student loans @ 6% paying 2...
by beginner
Thu Jul 20, 2017 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: OASDI Maximum Taxable Earnings Question
Replies: 2
Views: 400

OASDI Maximum Taxable Earnings Question

This is the first year that I have made more than the OASDI max taxable earnings. This has been satisfied by my main job as of a few paychecks ago. I have a second job that I realized is also taking out OASDI also. They are both W2 jobs. Will the excess contribution be adjusted/ given back to me when filing taxes or should I call my second employer?

Thanks
by beginner
Tue Aug 16, 2016 3:03 pm
Forum: Personal Investments
Topic: TSP and 403b Calculation Help/Questions
Replies: 2
Views: 366

Re: TSP and 403b Calculation Help/Questions

CAsage wrote:Thoughts: Are the investment options particularly better in one place or the other? Is there any reason you would not just fund the maximum in your primary job? Especially if the secondary job fluctuates'.
And make sure you stretch your contributions over the entire year, I know people that maxed out their pre-tax contributions and before the last pay period (switching then to after tax) and lost the matching funds....
I would say the investment options at each are similar in terms of options and fees. I would like to utilize the match on both. However, It would be easier and perhaps safer in regards to over funding to only max out my primary job.
by beginner
Tue Aug 16, 2016 11:34 am
Forum: Personal Investments
Topic: TSP and 403b Calculation Help/Questions
Replies: 2
Views: 366

TSP and 403b Calculation Help/Questions

Hello, I have the opportunity to contribute to a TSP and a 403b. I have done much reading and would like confirmation of my math and thinking. I am working under the assumption that TSP + 403b contribution cannot exceed 18k / yr. If the TSP matches 5% and my calculated match max is 13,500$ (based on 270,000 salary= base +special pay) I should contribute 13.37% (based on my base salary of 100,957$). This will make my TSP self contribution 13,500 + my 5% match 13,500. My other job is on an as needed basis and I am estimating 40,000$/ yr in pay. This offers a 403 B with 5% matching. I am left with 4,500 to contribute to make it up to 18,000 max contribution yearly (403b + TSP). This means I should contribute 11.25% of my estimated 40,000$ sala...
by beginner
Tue Jun 28, 2016 11:53 am
Forum: Personal Consumer Issues
Topic: Planning to relocate to Austin, TX
Replies: 48
Views: 7299

Re: Planning to relocate to Austin, TX

We just moved to round Rock. Although this will be IMO to far of a commute to your work, some of the same principles of our search may help you. We have a 10 yr old and schools were #1. Sxhools determine a lot of the demand for homes in an area in tx. You can use school digger.com to look at school ratings. For example round Rock isd is good in general but there is a big difference between east of i35 and west of i35. Our school ratings around us are all greater than 8 and we are west of i35. We only moved from an hour away, and we were looking for a rent house. We still gained a ton of information from a real estate agent. This agent gave us invaluable input about the area that we would have no way of finding out by searching online. Also,...
by beginner
Mon Aug 06, 2012 9:03 pm
Forum: Personal Consumer Issues
Topic: Wanting to become a faster reader
Replies: 26
Views: 3158

Re: Wanting to become a faster reader

http://www.amazon.com/Breakthrough-Rapi ... ed+reading

This is a book I used and it was pretty helpful. I rented it from my local library.
by beginner
Sun Jun 17, 2012 11:52 pm
Forum: Personal Investments
Topic: College Student Looking to Get Started
Replies: 4
Views: 877

Re: College Student Looking to Get Started

I'm 25 and just finished medical school. I was in your position at one point and I am still not far from you.
First thing I would do is read as much as you can. I would start with "bogleheads guide to investing". Then after you read that there are recommended books in the back to check out. I would also focus on the book "Personal Finance for Dummies". Once you have all the personal finance basics understood then you can worry about investing. You may think you don't, but you have all the time in the world now. So if you really want to learn the boglehead way, I would read as many books as possible and use the resources on this website.
by beginner
Fri May 25, 2012 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance beginner questions
Replies: 8
Views: 1532

Re: Homeowners Insurance beginner questions

Thank you for all the helpful replies.
by beginner
Thu May 24, 2012 4:31 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance beginner questions
Replies: 8
Views: 1532

Homeowners Insurance beginner questions

I am in process of buying my first home. I was given a quote by the company who is giving me my mortgage.

I do not remember reading anything about homeowners insurance advice in the many personal finance books I have read. I have searched this site and the web but have had trouble with finding answers to comfort me.

My basic questions are-Do I have other options? should I shop around for better rate? If so, how? Should I add flood coverage (live in central texas) or any other extras? Any advice or resources will help.
by beginner
Fri May 18, 2012 10:48 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 3372
Views: 1560954

Re: What Book Are You Currently Reading? Part V

Breakthrough Rapid Reading by Peter Kump
The Holiness of God by R.C. Sproul
by beginner
Sun Jan 22, 2012 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Buying first home sources/advice
Replies: 2
Views: 672

Re: Buying first home sources/advice

Thank you Livesoft.

For anyone in my same situation...I have read "Nolo's Essential Guide to Buying Your First Home" and also "How to Save Thousands of Dollars on Your Home Mortgage" and they have been very helpful.
by beginner
Thu Jan 12, 2012 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Buying first home sources/advice
Replies: 2
Views: 672

Buying first home sources/advice

I am a 4th year medical student who will be starting a 4 yr residency in July 2012.
I am leaning towards purchasing a home. I have about 120000 in student loan debt and my starting salary will be about 47000 a year before taxes. I will be in tx so a house will be more affordable than other places in the country.

I just started reading Nolo's Essential Guide to Buying Your First Home but I have not gained a lot of information out of it.

Any suggestions for sources to learn an overview about the home buying process. I am particularly weary abOut the mortgage process and real estate agent aspect. I dont want to come out on the short end due to a lack of knowledge.
by beginner
Sat Dec 10, 2011 11:28 pm
Forum: Personal Consumer Issues
Topic: How to Die
Replies: 167
Views: 32006

Re: How to Die

As a 4th year medical student doing my emergency medicine rotation this article is powerful.

Makes me think about life insurance, disability insurance, writing a will, etc