Search found 172 matches

by Rebecca_S
Fri Jun 01, 2018 6:54 pm
Forum: Personal Consumer Issues
Topic: Travel advice for an engineer
Replies: 65
Views: 6173

Re: Travel advice for an engineer

Istanbul: Hagia sofia, basilica cisterns and the national history museum.
by Rebecca_S
Sun May 13, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage question: 20% down or larger down payment?
Replies: 47
Views: 8654

Re: Mortgage question: 20% down or larger down payment?

In my market, which has very low inventory and multiple offers for most houses, many buyers make their offer more attractive by offering all cash. If you have a mortgage contingency, putting significantly more than 20% down gives the seller more confidence that your mortgage will be approved and the deal won't be delayed because of financing. We are in the process of buying right now and are putting down over 50%.
by Rebecca_S
Thu May 03, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: How to finance new home-IN a hurry!
Replies: 22
Views: 2478

Re: How to finance new home-IN a hurry!

We aren't in quite the same timeline crunch, but we are buying our new home before selling the other (paid off). As soon as we close, we will move, do minor updates to the old place and put it on the market.

Our mortgage agent offered 2 options, to pay one point or to agree to hold the mortgage at least 6 months. I predict that it will be 3-4 months between closings and at that time we will pay down the new mortgage by 95%. This seemed the best of all the options we had available. We considered a HELOC on the old place as well as cobbling together enough money between short term family loans and a 401k loan but they were not as attractive to us.
by Rebecca_S
Fri Mar 16, 2018 6:03 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 317
Views: 70394

Re: Those with high savings rate: why?

Fear, security, independence, future happiness.

But in addition, the marginal utility of spending. I have a quite nice life spending at my current level, there isn't anything that I really feel I'm missing out on. We have gotten good at spending money on things that make us happy and not spending money on the other things. So every time I get a raise/bonus I consider if there is anything I would like to spend on, but mostly the thing I want is extra time!
by Rebecca_S
Mon Feb 26, 2018 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Credit Cards?? [Credit card vs. debit card]
Replies: 108
Views: 8477

Re: Thoughts on Credit Cards??

I wonder how much of the studies that suggest people pay more when paying with credit are correlation, not causation.

For example, I rarely carry more than $20. If I go to the grocery store and buy 1 simple thing, I pay cash since I have it on me. If I buy a week's worth of food I pay with a credit card. Did I buy more since I paid with credit, or did I pay with credit since I bought more food?
by Rebecca_S
Sat Dec 30, 2017 9:39 am
Forum: Personal Investments
Topic: Maxing out retirement accounts
Replies: 55
Views: 6477

Re: Maxing out retirement accounts

Technically, I was maxing out at about age 25 but all I had available was IRA space with much lower contribution limits. I didn't have a 401k available until I was 31, though spouse had one at his first job. We saved about 5% for a couple years, then 10%, and maxed out our combined tax advantaged retirement space since we were 29.
by Rebecca_S
Sat Dec 30, 2017 8:33 am
Forum: Personal Consumer Issues
Topic: Buying a car advice - what's new since 1994?
Replies: 43
Views: 4216

Re: Buying a car advice - what's new since 1994?

Are there any auto shows nearby? There is one coming up soon in Boston.
We buy cars rarely, are a 1-vehicle family with significant comfort challenges. An auto show is a great no-pressure environment to try on cars. You can talk with the dealers about specs, pick up literature or not.
by Rebecca_S
Sat Nov 11, 2017 10:34 am
Forum: Personal Consumer Issues
Topic: What is the difference between retiring and resigning from a job?
Replies: 42
Views: 17702

Re: What is the difference between retiring and resigning from a job?

At my company, if you have reached certain age and length of service requirements, you can choose to retire.

Retirement: 6-12 months notice given, all RSUs and options vest, longer transition times available, better parties.
Resigning: 2 weeks notice, all unvested stock and options disappear.
by Rebecca_S
Sun May 14, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Was there a $$$ number after which things got easier?
Replies: 72
Views: 14750

Re: Was there a $$$ number after which things got easier?

For me, emotionally it got a lot easier once we paid off the mortgage. Even in a HCOL area, I can live on very little if necessary IF I have a secure place to live.

After that, it seems to get a bit easier every year. I can breathe easier, there is more money to save even though we let ourselves splurge a little. Emotionally, I feel more balanced and am more willing to spend money on the things that make me happy since I know that we have a secure savings that covers the bare necessities.
by Rebecca_S
Sun May 14, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do i still need Term Life Insurance ?
Replies: 14
Views: 2269

Re: Do i still need Term Life Insurance ?

It is your spouse's opinion that matters most, since she will be the one most affected if you die between now and retirement.

If you were my spouse, I would say that you don't need coverage any more, but it isn't my opinion that matters.
by Rebecca_S
Sat Jan 14, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Job dilemma
Replies: 31
Views: 4365

Re: Job dilemma

Working for a startup can be very different than working for an established company. To me, the main question is do you want to work for a startup?

The universe of jobs is not just these two, you can continue looking for another position if you decline the startup job.
by Rebecca_S
Wed Dec 28, 2016 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Rent vs buy dilema long term - seeking impartial advice
Replies: 4
Views: 1088

Re: Rent vs buy dilema long term - seeking impartial advice

If rates go up, then often prices drop since people buy what payment they can afford. You, however, will have the ability to pay off the mortgage in just a handful of years at your current savings rate. The interest rate will matter less if you can pay off in 6-8 years rather than in 30.
by Rebecca_S
Wed Nov 16, 2016 6:24 am
Forum: Personal Consumer Issues
Topic: Boston Logan Parking / Hotel?
Replies: 27
Views: 3724

Re: Boston Logan Parking / Hotel?

If you reserve ahead, you can get taxi vans for a small upcharge.

Have you priced the cost of a car service to Boston?
by Rebecca_S
Mon Oct 03, 2016 6:28 am
Forum: Personal Consumer Issues
Topic: Nonstick pots and pans, what is the consensus?
Replies: 45
Views: 6477

Re: Nonstick pots and pans, what is the consensus?

Have you considered the nonstick pans which are enameled? We only use 1 nonstick pan, a small size for eggs, and recently had to replace it because the coating was wearing off. We got one that is enamel over stainless and are quite impressed. It is very nonstick and easy to clean without sensitivity to scratching. Our neighbor, a chef, recommended it and said hers have lasted for years.
by Rebecca_S
Tue Sep 20, 2016 6:34 am
Forum: Personal Consumer Issues
Topic: The Bogleheads' "100 Things Worth Every Penny" List
Replies: 275
Views: 56299

Re: The Bogleheads' "100 Things Worth Every Penny" List

Underfloor heating under the bathroom tile.

Bar mitts for winter cycling - greatly increased comfort so I'm able to bike to work all winter in Boston

Public library
by Rebecca_S
Tue Aug 02, 2016 5:59 pm
Forum: Personal Investments
Topic: Two pensions. Interesting predicament.
Replies: 11
Views: 2241

Re: Two pensions. Interesting predicament.

Is there a reason why you contribute the max to your retirement, but your wife only $3600/yr? Typically couples will not have such a disparity in retirement funding unless one has much better fund options than the other, but you appear to have the same employer.

I would increase your retirement savings before the college savings, you have more options with those accounts and are not over-saving for an early retirement with a 13% rate.
by Rebecca_S
Thu Jul 14, 2016 6:50 am
Forum: Personal Finance (Not Investing)
Topic: HELOC for emergency and when you would use it
Replies: 38
Views: 5466

Re: HELOC for emergency and when you would use it

We had a HELOC as part of our emergency plan in the past, but have let it expire now that our taxable investments are significant and could be used in an emergency. At one time we were in the middle of a bathroom renovation, paid for with savings but extra problems were found when we opened up the walls that increased the costs by a yet-unknown amount. In the meantime, our car was stolen and much later found totaled. We knew that insurance would eventually pay out for the car but in the meantime wanted to replace it, with a used car bought from a private party. Rather than waiting for the insurance check to come through, or depleting our liquid savings, we used the HELOC to pay for the replacement car. HELOC was paid off 2 months later when...
by Rebecca_S
Fri Jul 01, 2016 4:22 pm
Forum: Personal Investments
Topic: Pay off the house leaving only $15k
Replies: 32
Views: 2946

Re: Pay off the house leaving only $15k

We did it, even down to about $5K, but we were DINKs with secure incomes and knew we could easily pay all bills off a single salary if one of us lost a job. That is not a recommendation necessarily, but we were excited to pay it off and had very low monthly bills otherwise.
by Rebecca_S
Mon Jun 06, 2016 8:38 pm
Forum: Personal Investments
Topic: Mortgage or Taxable Account?
Replies: 18
Views: 2798

Re: Mortgage or Taxable Account?

I would consider paying down the mortgage to the point where you can refinance as a conforming loan. You should be able to refinance at a rate much better than 4.25%.
by Rebecca_S
Thu Mar 31, 2016 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Marriage Penalty Tax vs. Cohabitation
Replies: 99
Views: 16017

Re: Paying Marriage Penalty Tax vs. Cohabitation

I would like to recommend this article that illustrates the marriage tax penalty and bonus for different income levels in easy to read graphs.
http://fivethirtyeight.com/interactives ... e-penalty/

We have had a penalty some years and a bonus other years. Overall, I am quite happy to be married for the package of rights involved.
by Rebecca_S
Sat Jan 23, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: High income earners and retirement budget?.
Replies: 37
Views: 6292

Re: High income earners and retirement budget?.

For planning purposes when you are far from retirement, it isn't a bad rule of thumb. However, as you get closer to retirement it is better to work off your actual expenses, which may have changed a lot over the years. You might no longer have the expenses of mortgage, income taxes, childcare, child education but have new expenses such as health care.
by Rebecca_S
Mon Nov 09, 2015 1:57 pm
Forum: Personal Consumer Issues
Topic: Source For Unroasted Coffee Beans
Replies: 16
Views: 2504

Re: Source For Unroasted Coffee Beans

I like my coffee just barely roasted although I am not a connoisseur. 7-11 of all places sells green coffee beans a quite nice price.
by Rebecca_S
Wed Nov 04, 2015 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with this ESPP plan?
Replies: 4
Views: 811

What to do with this ESPP plan?

My husband just started a new job this week and has the option to contribute to the ESPP at up to 15% of his salary. Stock is bought quarterly at at 15% discount so I was originally planning to have him contribute the maximum. It appears there is no limit on selling immediately, which is what I do with ESPP shares from my job. However, the stock appears to be a small volume stock listed on the Nasdaq. Share price is volatile, ranges from $1-2 over the past year and was at a high of $5, 5 years ago. When ESPP shares are bought, the employees seem to receive a paper stock certificate. Who does that any more? I don't even know where to go to sell stocks with a paper certificate. It seems the transaction costs could be high to sell and I will n...
by Rebecca_S
Wed Oct 28, 2015 6:26 am
Forum: Personal Consumer Issues
Topic: Car advice for tall person
Replies: 29
Views: 5659

Re: Car advice for tall person

My husband is 6'4" and I am 5'2". We share a Mini Cooper and find it to be quite comfortable for both of us.
We have the 2-door, so not good for a carseat but you might check out the 4 door option.
by Rebecca_S
Mon Sep 21, 2015 7:07 am
Forum: Personal Consumer Issues
Topic: Martial arts for beginner adults
Replies: 45
Views: 7159

Re: Martial arts for beginner adults

The most important factor will be the instructor at the dojo. There are good and bad instructors in every discipline and it can be difficult to tell from the webpage or sign on the wall whether a particular place will be suitable for you or not. I would avoid places that feel like a factory assembly line or that make you pay to test for new belts often. Pay attention to whether there are older instructors/students or if everyone one is young. You should be able to attend one class free, which should give you a good starting basis for understanding the teaching and athleticism of a dojo. Do you have a sense of what kind of workout you would like? If it is striking and kicking, then karate, muay thai, kempo, krav maga might be good choices. J...
by Rebecca_S
Thu Sep 17, 2015 9:11 pm
Forum: Personal Consumer Issues
Topic: Semi-formal flatware
Replies: 29
Views: 3893

Re: Semi-formal flatware

Flatware needs to be chosen for ergonomics, not just looks. It makes a big difference to me how a fork or spoon feels in my hand. We have 16 sets of an old Crate and Barrel design in stainless, it was relatively inexpensive but feels really nice to hold.
by Rebecca_S
Sun Sep 06, 2015 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Must-haves and Legal Needs for a Millionaire
Replies: 27
Views: 8826

Re: Must-haves and Legal Needs for a Millionaire

One of our friends does cat rescue. We have named her as being responsible for finding our cats a good home should something happen to us. She has 5 cats herself and a rotating array of fosters, I don't expect her to keep our cats but to be the person responsible for finding them another good home.
by Rebecca_S
Sun Aug 23, 2015 8:54 am
Forum: Personal Consumer Issues
Topic: Cheaper car for someone who enjoys cars?
Replies: 63
Views: 12314

Re: Cheaper car for someone who enjoys cars?

I don't know exactly how many months are left on your lease, but we learned a lot by going to the New England auto show that they hold every January. You can sit in tons of cars and get all their specs, talk to knowledgeable sales people but you cannot test drive. It is a very low pressure environment.

We did it 11 years ago and found out that a Mini Cooper was the right car for us, went again last year and didn't see anything better.
by Rebecca_S
Sun Aug 09, 2015 10:32 am
Forum: Personal Consumer Issues
Topic: December Vacation
Replies: 17
Views: 3392

Re: December Vacation

I like Puerto Rico a lot for winter vacations. From the east coast it is a quick flight into San Juan, they use US dollars and US cellphones, lots of history and culture but also beaches and nightlife.
by Rebecca_S
Thu Aug 06, 2015 7:23 pm
Forum: Personal Investments
Topic: Am I wrong? [to assist family members with finances]
Replies: 32
Views: 5605

Re: Am I wrong? [to assist family members with finances]

After my father died, my mother was unsure about what to do with the investments he had always handled. I have an interest in investing and handle it for my household, and now I have taken over her investments, but this was the process I went through first. 1) We waited about a year to get over the biggest emotional hump. Nothing important happened to the investments during that year. 2) I had her to read The Coffeehouse Investor. It describes the basics of index funds, why low costs matter, why having a plan matters and why investing doesn't have to be too difficult; this book is written in a very accessible manner. Once she read it, she had a much better understanding of my investment philosophy. This book was also my husband's introducti...
by Rebecca_S
Tue Jul 21, 2015 7:11 am
Forum: Personal Consumer Issues
Topic: lock for $500 bike
Replies: 27
Views: 4731

Re: lock for $500 bike

All the new Kryptonites cannot be broken with a Bic pen, that was an older style from years ago. I like the Ulocks, they are quite sturdy. Small ones are lighter than heavier ones which matters a lot to me since I am a small person. On the other hand, back wheels are more expensive to front wheels, if you can run something through frame and the back wheel that is superior than locking the frame alone. Never lock a bike only with the wheel and no frame, you will come back to a locked wheel and no bike. I never leave my lights on the bike while I am gone. Most lights are easily removable and cannot be locked so that you can charge the batteries, but it is easy for anyone to remove a light and walk away. I do sometimes leave my helmet on the b...
by Rebecca_S
Thu Jun 25, 2015 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Rent a studio to save money or 1-bedroom that is twice the cost but in my "dream" area?
Replies: 36
Views: 10347

Re: Rent a studio to save money or 1-bedroom that is twice the cost but in my "dream" area?

I would do the 1-bedroom. Getting the chance to test drive the exact same building and neighborhood before you purchase is invaluable and your savings rate is high. If you were just scraping by then my choice would be different.
by Rebecca_S
Wed Jun 24, 2015 1:46 pm
Forum: Investing - Theory, News & General
Topic: What ratio are you stocks/bonds and how old are you?
Replies: 449
Views: 96096

Re: What ratio are you stocks/bonds and how old are you?

38 + 39 years old, we use age in bonds. This is conservative but fits our needs and risks.
by Rebecca_S
Tue Jun 09, 2015 8:38 am
Forum: Personal Consumer Issues
Topic: Advice for Boston trip
Replies: 24
Views: 2955

Re: Advice for Boston trip

USS Constitution is great for kids. It is over in Charlestown but part of the Freedom Trail.

I suggest some downtime in the Boston Commons or adjacent Public Gardens. The "Make way for ducklings" statues are always a hit.
by Rebecca_S
Tue May 26, 2015 12:08 pm
Forum: Personal Consumer Issues
Topic: Kitchen Remodeling and Microwave Food
Replies: 30
Views: 3450

Re: Kitchen Remodeling and Microwave Food

Consider getting a kettle to boil water and an outdoor grill. You can make hot drinks with a kettle of course, but can cook several things by placing them into boiling water. Noodle dishes, instant rice, soups, blanched vegetables.
by Rebecca_S
Tue May 26, 2015 7:10 am
Forum: Personal Consumer Issues
Topic: Need to sell old home. Should we spend money to modernize it first?
Replies: 38
Views: 5995

Re: Need to sell old home. Should we spend money to modernize it first?

Like the others suggest, I would not renovate at all but just hire a service to deep clean once everything is cleared out.

Was the landscaping kept up? If it had not been, it might be worthwhile to have the bushes trimmed back and minor landscaping done. For example, when my grandfather passed the bushes/hedges around the house were quite overgrown and blocked much of the light from entering the windows. Trimming the hedges back and cleaning the windows allowed in a lot more light and was a simple fix.
by Rebecca_S
Wed May 13, 2015 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: MA slow to use my check? should I do something?
Replies: 19
Views: 6764

Re: MA slow to use my check? should I do something?

Our check was finally cashed today.
by Rebecca_S
Fri May 01, 2015 7:19 am
Forum: Personal Consumer Issues
Topic: Karate for kids—Thoughts?
Replies: 47
Views: 6640

Re: Karate for kids—Thoughts?

If you decide to pursue a martial art, the most important factor will be the abilities of the teacher and if they mesh personalities with your child.

There are karate instructors who are awesome and who are terrible; there are judo instructors who are awesome and are terrible; there are aikido instructors who are awesome and terrible...

At young ages you are paying for physical fitness rather than self defence, but that is OK if you are realistic. Avoid places that put a lot of emphasis on belts and make you pay a lot to test.

I've done jujitsu for 9 years, never need to use it to physically defend myself but have used the rolling/falling safely skills a few times to save myself from serious injury.
by Rebecca_S
Thu Apr 30, 2015 9:18 am
Forum: Personal Investments
Topic: Should I pay off the mortgage before I quit my job?
Replies: 30
Views: 5940

Re: Should I pay off the mortgage before I quit my job?

If you did not pay the mortgage, why would you not max out tax deferred accounts still using the taxable dollars?
by Rebecca_S
Thu Apr 30, 2015 9:14 am
Forum: Personal Finance (Not Investing)
Topic: MA slow to use my check? should I do something?
Replies: 19
Views: 6764

Re: MA slow to use my check? should I do something?

We paid MA taxes by check mailed April 13, the check still hasn't cleared either. I think they are just overloaded with returns.
by Rebecca_S
Sun Apr 26, 2015 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Buying condo in commercial building
Replies: 10
Views: 2544

Re: Buying condo in commercial building

I live in a condo in a mixed use building where the commercial units have more value than the residential ones. We didn't have any problems getting a mortgage in 1999 when we bought or 2005 when we refinanced; our neighbors haven't had problems getting mortgages that I am aware of. I know that some things have gotten more difficult since then but if you have a reasonable down payment you should be able to find a lender.
by Rebecca_S
Fri Apr 24, 2015 10:22 pm
Forum: Investing - Theory, News & General
Topic: Who follows Age in Bonds
Replies: 67
Views: 12032

Re: Who follows Age in Bonds

I am 38 and have had our asset allocation set at age=bonds for the past 5 years; prior that that it was age-10 in bonds. We were frugal and lucky, accumulated a lot for a while and now are earning less. I want to protect what we have more than I want to risk it. I imagine I will keep age=bonds until about age 60.

Honestly, I'm not sure a 10% swing in asset allocation would matter in the long run but I feel like this is a stage of our lives to be conservative with our investments.
by Rebecca_S
Sat Mar 07, 2015 8:24 am
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 339
Views: 77690

Re: What is your favorite consumer product?

Bar mitts.

These are basically like mittens that go over the bicycle handlebars for riding in weather below freezing. They block the wind beautifully so that I only have to wear thin gloves underneath which lets me retain dexterity compared to big thick gloves, and my hands are much warmer than wearing even 2 pairs of gloves. Bar mitts allow me to extend the number of weeks I bike to work, which is the fastest and least stressful way for me to get around town.
by Rebecca_S
Tue Nov 11, 2014 7:09 pm
Forum: Personal Consumer Issues
Topic: Best microwave to replace kitchen stove
Replies: 26
Views: 3378

Re: Best microwave to replace kitchen stove

I have found that an electric kettle and toaster over were valuable additions to the microwave during kitchen renovations. With a toaster oven you can warm up pizza slices and sandwiches, bake a few cookies or potatos, and reheat leftovers without changing the texture of food. With a kettle you can make noodles/pasta, hot drinks, etc. A bbq, especially gas, and rice cooker allows for versitile cooking as well. Cleanup was more of a challenge, either to clean dishes in the bathtub or a small bathroom sink. Although I rarely use paper plates/napkins in my routine life, they made life much more simple during the reno. I've found that most any modern fullsize microwave heats food nicely. We planned on lots of takeout and budgeted it into renova...
by Rebecca_S
Mon Jun 23, 2014 7:33 pm
Forum: Personal Investments
Topic: Need intro resource on Roth conversions and RMDs
Replies: 2
Views: 433

Need intro resource on Roth conversions and RMDs

I've handled my Mother's investments for years now since my father died. Last year she retired and is now in a much lower tax bracket. I would like to start and conversation with her about RMDs and doing Roth conversions, if they make sense for her. The only investing book I've gotten her to read was Coffeehouse Investor. I'd like to find a resource (book, webpage, pamplet) that discusses RMDs and the pro/con of doing Roth conversions of her traditional IRA and rollover IRA accounts using conversational language. Thanks!
by Rebecca_S
Fri Mar 14, 2014 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Renting vs. Buying a Home
Replies: 15
Views: 2447

Re: Renting vs. Buying a Home

I would lean towards renting. As a resident and fellow with a small child, you won't want to spend precious time doing house maintanance on a home you won't keep long-term. Renting a home still requires some work (lawn care is often your responsibility) but is a lot less headache than renting.
by Rebecca_S
Fri Feb 07, 2014 7:01 am
Forum: Personal Finance (Not Investing)
Topic: When did you dump your life/disability ins?
Replies: 10
Views: 1994

Re: When did you dump your life/disability ins?

These are 2 separate questions.
My husband and I have about equal earning potential and low expenses, no kids, so we don't have life insurance.
Disability insurance is a much bigger deal, you are more likely to need long term disability than to die early. The consequences could be much greater financially. We have disability insurance.
by Rebecca_S
Mon Jan 20, 2014 8:29 pm
Forum: Personal Investments
Topic: POLL: Investing vs. pay down mortgage feelings
Replies: 79
Views: 7038

Re: POLL: Investing vs. pay down mortgage feelings

We paid off the mortgage about 4 years ago, so the market has done well since then and mathematicallly we could have done better with balanced investments. We were maxing out tax advantaged space however and if had done more taxable investing it would have been at very low risk, since my husband wanted to leave his job and start his own business. Having a paid off condo means that if necessary we could get by with very little income, although I make a nice wage myself. Psychologically it would have been harder for him to take the leap and quit his job if we had a monthly mortgage to pay, though mathematically the investments would have outperformed.
by Rebecca_S
Sun Sep 22, 2013 9:50 am
Forum: Personal Investments
Topic: Rental Houses Debt vs. Building the 529 plans
Replies: 9
Views: 1221

Re: Rental Houses Debt vs. Building the 529 plans

I wouldn't withdraw any money from the current 529, the taxes and fees wouldn't be worth it. You didn't consider the situation where you leave the 529 balance alone but direct the $400/month to the rentals. That should get at least the one, possibly both, paid off before the older child graduates HS. Your rental income should rise with time but the mortgage payment will stay about the same.
How confident are you that both your kids will go to college in 10 and 13 years? Trade school, military etc. might be options or if one took a gap year it alters the timing.
Is the mortgage interest actually tax deductable on a rental? I was under the impression that only the interest paid on owner-occupied properties was tax deductable.
by Rebecca_S
Sun Aug 25, 2013 4:52 pm
Forum: Personal Consumer Issues
Topic: Schooling for a 2year and 4 year old
Replies: 58
Views: 5686

Re: Schooling for a 2year and 4 year old

I would encourage you to look at the research that supports praising childeren for process, not outcome. "You worked so hard" and "your practice really paid off" versus "you are so smart" or "you are so talented".
I came out of a decent elementary and high school but ended up finishing at a top 3 grad school for my field. In my experience the difference between good and great schooling does not affect outcomes as much as the difference between poor and good.