Search found 106 matches

by cubaboymatt1316
Sat Jul 11, 2020 5:43 am
Forum: Personal Finance (Not Investing)
Topic: Ethical Dilemna - Rate Lock Woes
Replies: 13
Views: 1456

Re: Ethical Dilemna - Rate Lock Woes

So if you believe interest rates will be stable or lower in 7 months, you can take the original deal and net 7 k and pay half a point over that time and then refinance with VA or conventional? Am I missing something? At 2.25%, I'd lean towards believing rates will be UP 7 months from now, but that'...
by cubaboymatt1316
Sat Jul 11, 2020 4:20 am
Forum: Personal Finance (Not Investing)
Topic: Ethical Dilemna - Rate Lock Woes
Replies: 13
Views: 1456

Re: Ethical Dilemna - Rate Lock Woes

You don’t mention if you qualify for a waived VA funding fee. .... However, just a side note. Make sure you are thinking about real closing costs vs. what the paperwork says are loan costs. Thank you for all the responses. It’s put my mind at ease a bit. I qualify for no funding fee. 7k includes pr...
by cubaboymatt1316
Fri Jul 10, 2020 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Ethical Dilemna - Rate Lock Woes
Replies: 13
Views: 1456

Re: Ethical Dilemna - Rate Lock Woes

HomeStretch wrote: Fri Jul 10, 2020 9:49 pm It’s business, not personal. Go with the lender that gives you the best deal. But a 7-year payback at Lender #2 seems too long.
I agree it’s a long break-even period. Goes back to the builder not giving any closing costs unless I choose their preferred lender.
by cubaboymatt1316
Fri Jul 10, 2020 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Ethical Dilemna - Rate Lock Woes
Replies: 13
Views: 1456

Ethical Dilemna - Rate Lock Woes

[Removed]

Thanks for all the help!
by cubaboymatt1316
Wed Mar 22, 2017 6:55 pm
Forum: Personal Investments
Topic: Utah 529 Fees
Replies: 15
Views: 2864

Re: Utah 529 Fees

The investment detail of my childrens accounts show:

Estimated Expense Ratio of funds: (This fluctuates between .017 and .4 depending on the age group/Asset Allocation)
0.035%

UESP Administration Fee
0.17%

Total ER%
0.205%


They are all enrolled in the age-based aggressive global plan.
by cubaboymatt1316
Wed Mar 22, 2017 6:21 pm
Forum: Personal Investments
Topic: Retirement Account with LPL - Issues
Replies: 6
Views: 905

Re: Retirement Account with LPL - Issues

OnTrack2020 wrote:Have you done some "googling" of LPL....
Yes. Lots of bad stuff out there.
by cubaboymatt1316
Wed Mar 22, 2017 3:41 pm
Forum: Personal Investments
Topic: Retirement Account with LPL - Issues
Replies: 6
Views: 905

Re: Retirement Account with LPL - Issues

Have you shared this information with the owner of your company? Yes. As you can imagine, as someone who ultimately chose LPL over Vanguard for the SIMPLE IRA, he believes I'm the one misunderstanding the situation. He and I will likely continue to discuss the issue, but whatever friend-of-a-friend...
by cubaboymatt1316
Wed Mar 22, 2017 3:12 pm
Forum: Personal Investments
Topic: Retirement Account with LPL - Issues
Replies: 6
Views: 905

Retirement Account with LPL - Issues

The company I work for has chosen to offer a SIMPLE IRA through LPL Financial, despite my recommendation to go directly through Vanguard's SIMPLE IRA plan (personal friend with the owner of the company who made the decision). I need some advice. My boss specifically chose LPL because he was promised...
by cubaboymatt1316
Fri Dec 18, 2015 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Getting Pre-Approved by Two Lenders
Replies: 18
Views: 1841

Re: Getting Pre-Approved by Two Lenders

I shopped 2 lenders in my area, one of which I was pre-approved with. I asked for Good Faith Estimates (although they aren't called that anymore) based on a closing date of X and a rate of Y. Then I compared them as best I could. The comparison was difficult due to each waiving different fees, havin...
by cubaboymatt1316
Thu Dec 17, 2015 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

feh wrote:There is another option - don't accept/cash the check.
That's the current status; it's still sitting on my desk. Waiting to speak with my employer one more time to discuss things. I'm hoping it's just a huge misunderstanding and he'll issue some sort of 1099 or something.
by cubaboymatt1316
Tue Dec 15, 2015 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

I just wanted to check in with you guys; I am still reading this thread and am quite interested in the responses so far. Schedule C still feels best. Checking "my first Schedule C" may work this time. But this is going to repeat itself next year and then the recurring 5k amount may certain...
by cubaboymatt1316
Mon Dec 14, 2015 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

Taking the check directly to his bank to have it cashed is starting to feel like a better option at this point, hopefully making it as anonymous as it can be, and hopefully not raise any flags with the IRS since it shouldn't trigger a CTR at the bank nor will it show up in any of my accounts. That ...
by cubaboymatt1316
Sun Dec 13, 2015 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

For those questioning the ethics of the matter: I agree with you, it feels less like a gift and more like a burden. The check is still sitting in my home office. I don't want to do anything with it until I've settled on a course of action. My employer's motive is benevolent enough; he's trying to pr...
by cubaboymatt1316
Thu Dec 10, 2015 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in 3-6 months: Can we get current interest rates locked for 6months?
Replies: 10
Views: 1566

Re: Buying a house in 3-6 months: Can we get current interest rates locked for 6months?

I just went through this process with my lender. I was going with new construction, and out of the 3 lenders I was in communications with, only 1 of them offered an extended rate lock. It was slightly costly, but for the 150/180 day rate locks I had to pay $5-600 on a $270k loan and the interest rat...
by cubaboymatt1316
Wed Dec 09, 2015 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

Isn't this a simply a gift, rather than compensation? I would think if you do not receive a 1099 or W2 for it, that's what it is. The giver should not report it as a deduction, but I don't see it as your responsibility to verify this. And it's not a tip as the tax code defines it as far as I can se...
by cubaboymatt1316
Wed Dec 09, 2015 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

If I liked my job, I would just report it myself as other income on Schedule C and let the employer worry about his own tax obligations. Yes, it'll cost you in self-employment taxes, but you'll be covered for your tax obligations. You don't have to disclose the source of the other income. I think t...
by cubaboymatt1316
Tue Dec 08, 2015 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Re: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

I own a small web design firm (4 people). What your boss is doing is paying you under the table. It's not the best practice, by any means. His $5000 payment to you should had your federal and state taxes withheld....as well has your employer providing their tax contribution. Years ago, I would give...
by cubaboymatt1316
Tue Dec 08, 2015 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: How much money should I leave my kids?
Replies: 96
Views: 11820

Re: How much money should I leave my kids?

How old are the kids?

What stage in life are they are in?

What is their financial situations?

Why do you think it would them any harm?
by cubaboymatt1316
Tue Dec 08, 2015 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Can an investment company charge a fee to rollover a 401k?
Replies: 14
Views: 2360

Re: Can an investment company charge a fee to rollover a 401k?

My old job had a 401k through Merrill Lynch. They want me to close the account and move it into a Rollover IRA through their institution. If I move the money to Vanguard, they charge a $25 distribution fee. These fees are not uncommon and are usually set by the financial institution and I've heard s...
by cubaboymatt1316
Tue Dec 08, 2015 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?
Replies: 66
Views: 8976

Small Business Gave me a "Retirement Bonus" Untaxed. What should I do?

I work for a small business (less than 10 employees). Upon being hired, I was told that the company did not have a 401k plan, but that we were given $5000 a year to "go towards an IRA of our choosing". I received this end-of-year retirement bonus this week and saw something odd....it was n...
by cubaboymatt1316
Sun Oct 25, 2015 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Uncertainty as Federal Employee
Replies: 54
Views: 6320

Re: Uncertainty as Federal Employee

I'm on the other side of the fence: I'm 33 and I'm an engineer working for a defense contractor on a military installation. As engineers, we typically make more than our GS-12/13 counterparts (even our own department's government leads) but have far less stability and benefits. As a contractor, my p...
by cubaboymatt1316
Sat Oct 24, 2015 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Bigger House: Can I afford it?
Replies: 15
Views: 2508

Re: Bigger House: Can I afford it?

For comparison's sake, we are 34 and 29, two kids (3 and 6-months), we have ~1.5x more retirement accounts and zero debt of any kind, a household income that is more than 1.75x yours and very stable jobs, and probably live in an area that is higher COL (you might be able to buy a 2bdr 900^ft condo ...
by cubaboymatt1316
Sat Oct 24, 2015 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Bigger House: Can I afford it?
Replies: 15
Views: 2508

Re: Bigger House: Can I afford it?

I think that you pretty much understand the risks and while it is clearly a big stretch it isn't completely crazy, just lots of big tradeoffs. One other option to consider is that if you live in an area where houses can have basements then a larger house with a full unfinished basement might be a m...
by cubaboymatt1316
Sat Oct 24, 2015 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Bigger House: Can I afford it?
Replies: 15
Views: 2508

Re: Bigger House: Can I afford it?

It sounds like you've been making the minimum mortgage payments considering the balance owed is about 90% of the value of your home. Have you considered taking more of that 'extra' money and paying down the principal for a year or two to test the new budgetary lifestyle? Swampy, OP mentions that th...
by cubaboymatt1316
Sat Oct 24, 2015 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Bigger House: Can I afford it?
Replies: 15
Views: 2508

Re: Bigger House: Can I afford it?

While I have no comment on whether you (considering your finances) can afford the bigger home, I can say that we were very surprised how much more it cost to furnish and maintain a larger home when we went from 1800 to 2800 square feet. I definitely have tried my best to estimate accurately exactly...
by cubaboymatt1316
Fri Oct 23, 2015 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Bigger House: Can I afford it?
Replies: 15
Views: 2508

Bigger House: Can I afford it?

Hello fellow Bogleheads! I'm looking into purchasing a bigger house for my family of 5 and want to run the numbers by you all and see if it's in the realm of financially responsible. I'm 33. Wife is 31 (stay at home mom). Kids are 4,4 (twins) and 2. We live in the South. Very low cost of living area...
by cubaboymatt1316
Tue Jul 07, 2015 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Underwater Home (Rcvd Windfall)
Replies: 19
Views: 2596

Re: Upgrading from Underwater Home (Rcvd Windfall)

I just ran some numbers. Things could get ugly if the rates rise; an increase to just 4.75 from 4.1 for a VA Loan increases my projected PITI by about $100. Yikes! If we decide to stay put, what are some options for the $25k? I'm assuming throwing it all at my mortgage (underwater or not) isn't the ...
by cubaboymatt1316
Tue Jul 07, 2015 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Underwater Home (Rcvd Windfall)
Replies: 19
Views: 2596

Re: Upgrading from Underwater Home (Rcvd Windfall)

Well, the good thing is you are in a good spot. What you're thinking about doing is a want and not a need. So, nothing has to be done now. Nothing wrong with waiting 6 months to see how you feel about it then. The winter tends to be more of a buyers season anyway, since not as many folks are lookin...
by cubaboymatt1316
Tue Jul 07, 2015 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Underwater Home (Rcvd Windfall)
Replies: 19
Views: 2596

Re: Upgrading from Underwater Home (Rcvd Windfall)

I wouldn't do what you're proposing but I understand why you are. Yes, sell the house and buy one that better suits your needs as long as you're o.k. with the thought that you may be repeating history. That is, you may be buying at the top of the market again and will probably be underwater again f...
by cubaboymatt1316
Tue Jul 07, 2015 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Underwater Home (Rcvd Windfall)
Replies: 19
Views: 2596

Re: Upgrading from Underwater Home (Rcvd Windfall)

First, let me say "thanks" to everyone for their well-thought out and presented opinions. It's very much appreciated. I sat down with my realtor today and discussed some specifics on selling my current (underwater) home and it looks like I'll have to cover between $6-10k at closing, a bit ...
by cubaboymatt1316
Mon Jul 06, 2015 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Upgrading from Underwater Home (Rcvd Windfall)
Replies: 19
Views: 2596

Upgrading from Underwater Home (Rcvd Windfall)

I'm 32 years old, married with 3 very young children, and currently am upside-down in my current home. Sadly, we bought our home in 2008, at the peak of our local real-estate market. My wife and I are both unhappy with the house and would like something a little bigger, and with a current Debt-to-in...
by cubaboymatt1316
Wed Jan 22, 2014 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

I appreciate all the advice, and especially appreciate jimb for taking the time to do so much leg-work! - I upped W-4 allowances to 11. This should give me back over $4k in excessive federal withholding in 2013 ($3000 in child tax credits!) - I moved 401k contributions to 22%. This should be about 1...
by cubaboymatt1316
Tue Jan 21, 2014 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

jimb: isn't it self-evident that earning 8% while borrowing at 4% will always look good, especially when projected out 30 years? How does it look if you only earn the same rate as the mortgage? And don't forget to pay your tax on your fanciful ending investment balance! The two key factors determin...
by cubaboymatt1316
Tue Jan 21, 2014 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

- Reading all this makes me believe simply increasing my Roth/401k contributions is the best bet until I'm able to max those out. Should I return to just paying the minimum on the house payment? If I did that and decrease the "car fund" money slightly, I could probably bring my 401k contr...
by cubaboymatt1316
Tue Jan 21, 2014 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

With 3 kids (congratulations on the new one ) and a mortgage with that much savings and still money to spare, it sounds like you're doing so well already that you should be telling others how to manage their money. Here are some things to think about:...... jimb Wow, thanks so much for taking the t...
by cubaboymatt1316
Tue Jan 21, 2014 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

If you might want to refinance the mortgage, you'll need to pay it down to get to 80% loan-to-value to make that possible. You didn't give the interest rate on the mortgage, but if you refinanced in 2011, it's probably a pretty low rate, and you aren't likely to want to refinance it again except to...
by cubaboymatt1316
Tue Jan 21, 2014 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Re: Only debt left is upside-down mortgage: What next?

It seems like you are looking for a job and that if you got another good job offer, that you would move if you could. Right now, it sounds like you can move by making less optimal financial moves (raiding a Roth, etc) Thus, I would probably use extra money to pay down the mortgage (or boosting your...
by cubaboymatt1316
Tue Jan 21, 2014 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: RE: asked for salary at new job
Replies: 14
Views: 2597

Re: RE: asked for salary at new job

Always a tough question to answer. You don't want to lie and you don't want to, as you say, pigeon-hole yourself into a lower salary range. I would put off answering that question as long as possible. I'd put off any salary talks until after nearly everything else is discussed. At that point, I woul...
by cubaboymatt1316
Tue Jan 21, 2014 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Only debt left is upside-down mortgage: What next?
Replies: 24
Views: 2994

Only debt left is upside-down mortgage: What next?

I'm 30 and wife is 28. We have no debt other than our mortgage and we're having trouble deciding what our next short term goal should be. She's a SAHM of 3 kids (twins (2) and 4 months). No commercial debt and two vehicles paid off (2008 and 2010). We have about $1700 a month to allocate how we wish...
by cubaboymatt1316
Sat Mar 23, 2013 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Advice: Next Financial Priority?
Replies: 9
Views: 1436

Re: Advice: Next Financial Priority?

Appreciate the responses so far. I've already made the necessary changes to my 401k to maximize the employer match. That leaves plenty of money to the side to do about $600 extra on my home each month until I'm comfortable with the principle balance. My personal advice for priorities: 1) 401k up to ...
by cubaboymatt1316
Thu Mar 21, 2013 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: Advice: Next Financial Priority?
Replies: 9
Views: 1436

Re: Advice: Next Financial Priority?

With 4 dependents and an unstable job, I'd beef up the emergency fund to 1 yr's worth of expenses. Then continue to work on the upside down mortgage..... I'm at ~6 months without changing any expenses. In the event of a job loss, I can easily last a year by cutting out extra principle payments, cab...
by cubaboymatt1316
Thu Mar 21, 2013 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Advice: Next Financial Priority?
Replies: 9
Views: 1436

Advice: Next Financial Priority?

I'm "caught up" on my big priorities in life so far, and ready to tackle the next thing. But I'm not sure what my next thing should be? Could anyone lend some advice my way on what I should be focusing on next, at least for the short term? Where I'm at: 30 years old. Married with 2 kids (t...
by cubaboymatt1316
Tue Jul 24, 2012 7:48 pm
Forum: Personal Consumer Issues
Topic: Road trips with infants
Replies: 22
Views: 2663

Re: Road trips with infants

I agree with driving through the night. I have 10 month old twins and had to do an 8 hour drive when they were 6-7 months old. We left as soon as they fell asleep and didn't stop until I needed gas. The wife nursed them both as we stopped and we made it to our destination with minimal disturbance. I...
by cubaboymatt1316
Wed Apr 11, 2012 7:54 pm
Forum: Personal Consumer Issues
Topic: Not satisfied with insurance company estimator...
Replies: 4
Views: 2246

Re: Not satisfied with insurance company estimator...

I would call the claim representative with other company first. Explain your position and give them a chance to make it right. Perhaps you can send some "before" and "after" pictures detailing the damage the adjuster is questioning. After that, you can hire an attorney to possibl...
by cubaboymatt1316
Wed Apr 11, 2012 7:36 pm
Forum: Personal Consumer Issues
Topic: New bed?
Replies: 22
Views: 1891

Re: New bed?

I bought a Tempurpedic about a year ago. I will never buy another mattress again. Consistent sleep and comfort, zero tossing and turning now. It does retain heat a little too well, but It gets a little hot down here in GA to begin with; we're cold-natured to and keep two stand fans and a ceiling fan...
by cubaboymatt1316
Wed Apr 11, 2012 7:58 am
Forum: Personal Consumer Issues
Topic: Homeowners Insurance Deductible
Replies: 8
Views: 1596

Re: Homeowners Insurance Deductible

I have mine at 1k. Once my E-fund gets a little more comfortable, I'll probably raise it to ~5k if it's available.
by cubaboymatt1316
Sat Apr 07, 2012 3:46 pm
Forum: Personal Consumer Issues
Topic: Cuisinart (conair) coffee maker
Replies: 8
Views: 884

Re: Cuisinart (conair) coffee maker

I own 2 different Keurig machines that I keep at home and work. I've had them about 2 years and have not had a single problem. I can't imagine a scenario that would have me return to using traditional coffee pots (I only drink 16 oz a day).
by cubaboymatt1316
Sat Apr 07, 2012 3:42 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000? [Archived]
Replies: 1479
Views: 326161

Re: Best watch for around $5,000?

I Not too mention why would anyone spend $5,000 on a [watch/car/boat/ring/necklace/espresso machine/golf club/hot tub/baseball card]? When I'm 60 years old and rolling around in the millions of dollars I've made after 38 years of working & investing, I hope I don't get criticized for buying mys...
by cubaboymatt1316
Sat Apr 07, 2012 2:34 pm
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000? [Archived]
Replies: 1479
Views: 326161

Re: Best watch for around $5,000?

I Not too mention why would anyone spend $5,000 on a [watch/car/boat/ring/necklace/espresso machine/golf club/hot tub/baseball card]? When I'm 60 years old and rolling around in the millions of dollars I've made after 38 years of working & investing, I hope I don't get criticized for buying mys...
by cubaboymatt1316
Tue Apr 03, 2012 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Your milestones?
Replies: 82
Views: 7575

Re: Your milestones?

My first milestone was 100k by age 30. It looks like I'm gonna be about 2 years late, thanks to my newborn twins; a good problem to have, in my opinion.

My next goal is to be debt-free but my home by 40.