Search found 34 matches

by aubpri
Fri Dec 14, 2012 7:04 am
Forum: Personal Finance (Not Investing)
Topic: New job requiring me to move my brokerage accounts to them..
Replies: 20
Views: 2672

New job requiring me to move my brokerage accounts to them..

Recently took a new job with a large regional bank in a private banking role. I have my series 6 and 63 and am required to maintain them due to consultative conservations i'll have with clients. I will not be handling trades but will refer those out to an internal financial advisor. I am in the process of transferring over my licenses and the paperwork I am required to sign states that I am required to disclose all personal brokerage and investment accounts and move them over to the new institution within a few months. Is this industry norm? I don't have a problem disclosing them but I don't like someone telling me That i have to transfer them. I certainly don't want to be required to transfer them and incur any more sales charges or higher...
by aubpri
Fri Nov 09, 2012 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Death to ING Banking.... dang you Capital one....
Replies: 46
Views: 13430

Re: Death to ING Banking.... dang you Capital one....

Thanks for all the input. I originally went with ING because of the rates but found to love the simplicity of their online platform. I plan to keep my active accounts that I use frequently but will move my other accounts that are static so that I can get a little better rate. Plan on giving ally a shot
by aubpri
Wed Nov 07, 2012 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Death to ING Banking.... dang you Capital one....
Replies: 46
Views: 13430

Death to ING Banking.... dang you Capital one....

Just got this email from ING that they are finalizing the acquisition of Capital One with a rebranding and name change to Capital One 360. I've been an ING banking client for 7 years and hate to see them change. I'd have to imagine their structure and benefits will slowly change as well. Going to start the search for a new online bank and wanted to see who had some recommendations. Heard a lot of great things about Ally Here is what I loved from ING that I'm looking for: No fees Ability to earn interest on checking and savings Standard electronic capabilities: balance transfers, bill pay, ability to open a new savings account on the fly, ability to remote deposit checks via camera snapshot. Atm network Mobile/App banking Ability to have joi...
by aubpri
Tue Oct 09, 2012 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Who is your term-life insurance provider?
Replies: 45
Views: 11231

Re: Who is your term-life insurance provider?

Genworth and Primerica and some cheap supplemental through wife's work with prudential
by aubpri
Sun Aug 19, 2012 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: first investment?
Replies: 16
Views: 1704

Re: first investment?

In 1995 when I was in the 7th grade, i took half of my summer money from doing manual labor at a landscaping job and bought some intel stock with my local Edward Jones rep. My dad had all his business there as well. I learned a very valuable lesson in diversification and speculation through my experience with this particular sales rep. I remember heading into my senior year of high school with a portfolio of around $30k and then watching it dwindle a year later. Never forget the life lessons that light your butt on fire and make you mad! Glad I learned it at a young age. My dad wasn't as fortunate due to age.
by aubpri
Fri Aug 10, 2012 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Establishing a Group Health Policy for my church
Replies: 1
Views: 363

Establishing a Group Health Policy for my church

Background: I assist my local church with a lot of accounting and business needs and currently they do not have a group health insurance plan. In terms of adding a benefits package for the employees I want to start with Health Insurance and was looking to get some quotes on plans for 10 employees. Does anyone have any experience in where to start with this? I am not sure where to turn to get the ball rolling. I'd like to work with a broker that can provide group plans for several different carriers in Alabama. It's always easier dealing with someone local but I can't seem to find a broker in the area that I want to speak with. Does anyone know of any national or regional companies that can broker a group health plan and that is trustworthy?...
by aubpri
Sun Aug 05, 2012 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Pentagon Federal (PenFed) Extra Mortgage Payments
Replies: 15
Views: 3233

Re: Pentagon Federal (PenFed) Extra Mortgage Payments

Write a check, include a letter of instruction telling them exactly how to apply the funds, buy a .45 stamp and mail it off. That cost of a 45 cent stamp is probably less than what your time is worth so pay it and worry about something else than having to call and deal with the hassle.
by aubpri
Sun Jul 15, 2012 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed Auto Loan
Replies: 28
Views: 10902

Re: Penfed Auto Loan

It's very straightforward. The process is all online and via email. Immediately, they approved the 1.99% loan for 5 years. The total fee is $0. I own the vehicle outright so PenFed sent me the check to my home in one week. I used it to pay other higher-interest loan, ie. mortgage. (My credit score is around 780.) Great idea, I didn't even think about that possibility. I own my vehicle outright as well and am interested in doing the same. Did you just request the maximum amount possible? Did you have to provide an explanation? I crunched the numbers in the estimated worth of my vehicle compared to my mortgage rate and it would be a $500 savings over the life of the loan. Nothing huge but I'd rather keep that in my pocket than give it to my ...
by aubpri
Sun Jul 08, 2012 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Penfed refi conflict/question....
Replies: 12
Views: 1402

Re: Penfed refi conflict/question....

Thanks to everyone for the input. I am in Alabama and our current home is under a homestead exemption so our annual property taxes are a lot lower. You can only have one home in the county under homestead exemption so once we place our new home under the exemption the old home will lose it. The annual property tax will increase from 1000 to around 1700. I recall having the option with penfed to not use their escrow services and just pay the taxes and home insurance annually on my own. Obviously if I can retroactively choose this then they have no knowledge of my change in escrow pricing. I am sure they will still want proof of insurance and verification my taxes were paid so to protect their liability interest. I am down on the coast and we...
by aubpri
Sat Jul 07, 2012 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Term Life and Disability Insurance - what to do?
Replies: 50
Views: 6008

Re: Term Life and Disability Insurance - what to do?

Just to close the loop - been offline for a weeks. So, sorry to bring this one back to the top, but I owe a debt of gratitude to many of you. Here is what I ended up doing: Increased Life Ins via employer to $1.5m in total coverage. Pennies on the dollar to increase coverage to this cap relative to individual policy (at least for now, reminder I'm 39 in two weeks) so to me a no brainer). Found an independent broker per suggestions. Ultimately did a $1.75m 20 year term and $750k 30 year term. In case you are interested went with Principal. By the way, I stopped paying on my wife's VUL. Once the surrender charges go to zero (a few years from now, 3 to be exact) I will cancel that policy and collect whatever is left, then reinvest. In the mea...
by aubpri
Fri Jul 06, 2012 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed refi conflict/question....
Replies: 12
Views: 1402

Re: Penfed refi conflict/question....

What does your contract say? What does your moral code say? (you used the word obligated). You could always call Penfed from a throwaway cell phone that drug dealers use and ask. Thanks to both of you... Yeah I need to dig out the contract and read it over. I am sure it is based on the intent which at the time was to stay in home 1 even though we were actively looking. I thought about it morally and want to do what is correct by our agreement. Obviously greed says keep your mouth shut and keep the favorable rate. Based on the timing it seemed very gray and not so black and white on the intent part. I'll read it over again and make sure its crystal clear on what I am obligated to do and follow up on those obligations. I was aware in the cha...
by aubpri
Fri Jul 06, 2012 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Questions - What happens to unused funds?
Replies: 1
Views: 675

Re: 529 Questions - What happens to unused funds?

in regards to question number 1 if a beneficiary gets a scholarship The "good news" is that the normal 10 percent federal tax penalty on non-qualified withdrawals is waived when withdrawals are attributable to a scholarship. You may want to withdraw the scholarship amount now (or the year they were awarded) and avoid the risk that unspent funds become subject to the 10 percent penalty when withdrawn in the future. Just be sure to request that the 529 withdrawal be made payable to the beneficiary, not to you, so the 529 earnings are reported on their tax return and not yours (I'm assuming that the beneficiary, like most college students, is in a low tax bracket.) Unfortunately, the tax law is not clear on whether the penalty except...
by aubpri
Thu Jul 05, 2012 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: sending info via email for mortgage application
Replies: 13
Views: 9624

Re: sending info via email for mortgage application

Download Dropbox (www.dropbox.com) and upload the file to a folder within your account. Password protect the folder. Share the folder with the recipient and notify him via phone of the password.
by aubpri
Thu Jul 05, 2012 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed refi conflict/question....
Replies: 12
Views: 1402

Penfed refi conflict/question....

We recently finished up a refi on our home (we will call it "old home") with the 5/5 arm. When we finished the refi we had all intentions of being in the house for another 6-12 months with intentions of watching the market for "home 2". We recently had our first son and have been following the local market closely for a home with more sq footage. One we found "home 2" We intend to keep our current home "home 1" and let it be a rental investment property that should cash flow $300 a month. Last month we found a foreclosure home and got it under contract for a good price. We had the home inspection done and found several large repairs that pushed the budget/numbers to the point of not making sense. So w...
by aubpri
Fri Jun 29, 2012 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Age 29: General Budget and Finance Questions
Replies: 38
Views: 5393

Re: Age 29: General Budget and Finance Questions

Not sure if someone else posted it but a quick heads up on the cc rate, you could act quickly before June 30 and take advantage of PenFeds balance transfer with no transfer fee and lock that rate in for 4.99% while you pay it off. Would save you a good bit in interest expenses while you get the balance down to $0 Here ya go..... https://www.penfed.org/Platinum-Cash-Rewards/ Wouldn't this be worse longer term to do this since the rate is 9.99% and what would the credit impact, etc be?[/quote] It's my understanding that the amount transferred is locked in to the 4.99% until paid off. Only new money is at the 9.9% rate. So pay off the old balance at a lower rate and then pay off any new charges at the end of each month and don't carry a balance
by aubpri
Wed Jun 27, 2012 12:57 am
Forum: Personal Finance (Not Investing)
Topic: Age 29: General Budget and Finance Questions
Replies: 38
Views: 5393

Re: Age 29: General Budget and Finance Questions

Not sure if someone else posted it but a quick heads up on the cc rate, you could act quickly before June 30 and take advantage of PenFeds balance transfer with no transfer fee and lock that rate in for 4.99% while you pay it off. Would save you a good bit in interest expenses while you get the balance down to $0


Here ya go..... https://www.penfed.org/Platinum-Cash-Rewards/
by aubpri
Tue Jun 19, 2012 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Was a DINK now a HENRY
Replies: 45
Views: 12961

Re: Was a DINK now a HENRY

Just transitioned from DINK status to DISK status this past week. Scary and Joyful
by aubpri
Thu Jun 14, 2012 2:23 am
Forum: Personal Finance (Not Investing)
Topic: Simple low-cost will recommendations?
Replies: 6
Views: 2220

Re: Simple low-cost will recommendations?

I recall Suzi Orman Had a Section on her website where you could create a decent loving Will and Trust through a program. There is a fee but she had a code to use it for free, the code was CNBC or STAR.

If you are looking for something simple this should suffice
by aubpri
Wed Jun 13, 2012 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Agent Email
Replies: 107
Views: 13326

Re: Whole Life Agent Email

Original post error
by aubpri
Mon Jun 11, 2012 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for young couple
Replies: 24
Views: 2769

Re: Insurance for young couple

Your ability to generate an income is a very important asset, protect it for your family with cheap level term insurance. So many people are willing to spend $150 a month to insure a piece of metal that is a depreciating asset but unwilling to spend $50 to $70 to insure an increasing asset your income.

Looks good on the auto coverages. On the auto check to see what the premium will be for $500, $750, and $1000. Take the difference in the premiums and divide by twelve and that is how many months of not filing a claim it would tkw you to make up the price difference. This is a simple way to determine the value in a higher deductible.
by aubpri
Sat Jun 09, 2012 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Amica insurance -- Anybody members here??
Replies: 45
Views: 21883

Re: Amica insurance -- Anybody members here??

Call_Me_Op wrote:I don't believe in skimping on insurance. They are a great company. They also send a dividend check (typically) at the end of the year, so this needs to be factored-in to net cost.
By annual dividend check do you mean a return of overpayment? That is what most dividend checks actually are from an insurance company. Unless it is a mutual insurance company
by aubpri
Fri Jun 08, 2012 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Third Refi in a Year
Replies: 40
Views: 3941

Re: Third Refi in a Year

You using a local lender or someone over the Internet?

Definitely interested in checking this out.
by aubpri
Wed May 23, 2012 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Bank accounts and credit cards
Replies: 32
Views: 3335

Re: Bank accounts and credit cards

ING direct for banking- 1 checking account and about 15 savings accounts for all different budgeting and short term saving purposes. We even gave our dog a savings acct there where we give her 100 a month to cover all her needs. Also have a savings acct for general emergency fund, auto emergency fund, home down payment, trip fund, etc.

1 capital one cc that is used really just for gas each month.

Beyond that just a business checking acct at Compass bank
by aubpri
Wed May 23, 2012 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Are we underinsured?
Replies: 27
Views: 2767

Re: Are we underinsured?

To provide an income stream of $4000 a month for the next 23 years (child through college) and factoring in inflation, you would need a lump sum of around $650k to $675k.

Based on retirement assets and ability to save I think that $150k for each on a 10 year term will do it
by aubpri
Tue May 22, 2012 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Are we underinsured?
Replies: 27
Views: 2767

Re: Are we underinsured?

What are your monthly expenses that you would need an income stream to replace?

How many years are left on your existing 20 year term policies? Is it a full 20 years or are you a few years in?
Rule of thumb is you want this income replacement coverage to go the length to get your child to 23 or 25 years old (through college)


Based on the info you provided you could probably be fine with a 10 year term policy for another $150m each. With no debt and $200k in income you should be able to save up a significant amount over the next 10 years to put you in a position to self insure that $150m after the 10 year term drops in 10 years.

Congrats on where you are currently at? Keep it up!
by aubpri
Tue May 22, 2012 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Pet Insurance ...Yes or No?
Replies: 23
Views: 2157

Re: Pet Insurance ...Yes or No?

Emergency fund and skip the insurance.

Set a predetermined amount that you are willing to spend in cash if God forbid your pet gets an expensive illness.

Ours is $5000 and I hope and pray I never have to be in a situation where I am close to spending it.
by aubpri
Sun May 13, 2012 8:39 am
Forum: Personal Investments
Topic: In debt--Need Help --
Replies: 39
Views: 4824

Re: In debt--Need Help --

Just read this somewhere else and thought it was good advice. People going through payday loan problems can consider Payday Loan Consolidation as a possible solution. Take the following steps. You should be able to buy some time while you are learning about your rights and stand strong against the lenders. Letter to revoke ACH debit authorization: If you want to stop a lender from debiting your bank accounts, send a “Letter to revoke ACH debit authorization” to each of your payday lenders. You can also revoke any wage assignment agreement you may have signed and give a copy to your payroll department. But continue to pay your loans as long as you can. Stop all the direct deposits with your employer. Close the bank accounts if need be after ...
by aubpri
Sun May 13, 2012 8:33 am
Forum: Personal Investments
Topic: In debt--Need Help --
Replies: 39
Views: 4824

Re: In debt--Need Help --

Just throwing out an interesting fact I learned from a Manager of a large national chain payday loan company. They have no recourse on your own besides harassing you with calls and letters. They can't go after your credit. This really surprised me. She told me someone can come in, get a loan, give them a check, close the checking account and disappear and there is absolutely nothing they can do. She daid they have a collections process of calls and threatening letters but they can't come after your credit. I am not saying you should do this and I am not saying your payday company is the same. I think if you got yourself into the hole by borrowing their money then you owe it back. Read the fine print in your loan agreement with them and see ...
by aubpri
Sun May 13, 2012 7:09 am
Forum: Personal Investments
Topic: What % of college savings to put in a 529
Replies: 4
Views: 926

Re: What % of college savings to put in a 529

Mr. Gatti wrote:I believe the max you can deduct in Alabama is 5000 per taxpayer per year. I would put 10000 (5k for each of the parents) to maximize the state tax deduction. Presumably, this should equate to a credit of 500/yr. I would do this for the next 3 years. One or both may decide they want to go to grad school. Hopefully, they are going to the loveliest village on the plains. :D Good luck.

You can also use 529 money for housing, books, fees, etc. - stuff that may not necessarily be covered by scholarship.
WDE
by aubpri
Sat May 12, 2012 9:36 pm
Forum: Personal Investments
Topic: What % of college savings to put in a 529
Replies: 4
Views: 926

Re: What % of college savings to put in a 529

Very good points, live in Alabama so we do get a good tax break on the state level and we do have state income tax.

I am hoping the youngest will get some small scholarship help but I don't see her getting a full ride. I read that you can back out money equilvent to the scholarship amount with out penalty so that is great.

Personally my net worth is adequate for my age 50 and very little debt. About to refi the house, only remaining debt, and with today's rates it is so cheap to borrow.

I definitely like the conservative approach of keeping it outside the 529 and in some low risk bond fund to earn something better than a cd.
by aubpri
Sat May 12, 2012 6:17 am
Forum: Personal Investments
Topic: What % of college savings to put in a 529
Replies: 4
Views: 926

What % of college savings to put in a 529

I currently have a 15 year old child that will be heading off to college in 3 years. My retirement is not of concern as I have positioned myself well. We have $30k already in our state 529 plan. I have another $80k on the sidelines in cash that I have earmarked to pay for her college. My oldest child just got a full ride to her school so she is set. My question is should I A- put all of the remaining $80k in the 529 plan B- put $80k in some other investment account C- keep the $30k in the 529 ad add another $25k to it for a balance of $50k, then take the remaining $50k and put in a fixed income mutual fund that is not earmarked and no tax benefits. D- any other advice Based on the age till college I can't expect much growth out of the 529 a...
by aubpri
Sat May 12, 2012 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Poll: Have you bought Life insurance?
Replies: 63
Views: 4909

Re: Poll: Have you bought Life insurance?

I answered "Some Other Answer" since I have/had both Term Insurance and a Universal Life Insurance policy. While I was working I had a very nice Group Term Insurance policy through my company, but about 10 years before I retired they switched their offering from Term Insurance to a Whole Life type Insurance program (Premiums for the same level of insurance went up significantly). At that point I went out and got a 10 year Term policy for the amount of coverage I needed. I no longer have this policy. Way back in 1985, I was talked into a Universal Life Insurance Policy which I still have. I really don't need the insurance at this point and I am trying to figure out if I should close it out. My hesitancy at this point is that the C...
by aubpri
Sat May 12, 2012 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Poll: Have you bought Life insurance?
Replies: 63
Views: 4909

Re: Poll: Have you bought Life insurance?

Me and my wife both have it and need it. I've aligned my term lengths with my liabilities. Some on a 30 year term, some on a 20 year term and some on a 10 year term. Insurance in any capacity is needed as a way to pay a small portion to offset a risk. If I die I want my wife and kids taken care of financially and right now I dont have the assets to do so. I transfer this liability risk to an insurance company for $1k a year and let them carry the burden. I plan to do this until my liabilities have decreased and my assets have increased upon which I will be self insured and I dont need insurance. http://en.wikipedia.org/wiki/Theory_of_Decreasing_Responsibility Term is the only way to go for 99% of everyone that will be reading this. My advic...