Search found 1042 matches

by Leemiller
Sat Oct 20, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Using Mint: Am I correct in having my security concerns allayed?
Replies: 11
Views: 1355

Re: Using Mint: Am I correct in having my security concerns allayed?

I just don’t want too much of my financial information in one place. I do use Morningstar to track some of my investments though
by Leemiller
Sat Oct 20, 2018 6:58 pm
Forum: Investing - Help with Personal Investments
Topic: Questions on CDs - FDIC
Replies: 15
Views: 1627

Re: Questions on CDs - FDIC

Yes, separate charters count separately for FDIC insurance purposes. Does a different FDIC number indicate a separate charter? Occasionally, different FDIC numbers "count" as ONE for maximum FDIC coverage. The instances I was aware of this - the names of the different banks were similar. In such ca...
by Leemiller
Sun Oct 14, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Weigh in on our Marital Argument =)-- HCOL edition
Replies: 70
Views: 5369

Re: Weigh in on our Marital Argument =)-- HCOL edition

Seems to me that there should be more options in the NYC metro area. I would not get a 700-800k fixer upper. We fixed up a house and it is a huge time and money commitment. You are pushing the boundaries of what is affordable for your family with some of these options and I think you will have a ver...
by Leemiller
Fri Oct 12, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 5110

Re: Pls help us design our family life!!!

Housing is a killer for so many families - it creates the two income trap. Your part time dream likely means a drop in housing - that can mean a condo or townhome in a HCOL. It’s not easy - we purchased a home below our two income means and sometimes I want the fancier home. I do strongly support ha...
by Leemiller
Fri Oct 12, 2018 7:29 am
Forum: Personal Consumer Issues
Topic: Downtown Condo Living w/ Kids
Replies: 15
Views: 1757

Re: Downtown Condo Living w/ Kids

Sounds like you can afford a SFH, so that is what I’d recommend as a parent of two. Move, get settled into your new neighbor and new life as a parent. FWIW, we lived in downtown DC until my first was three. The full time nanny we had took her to places during the day, but on weekends we didn’t do as...
by Leemiller
Wed Oct 10, 2018 6:23 pm
Forum: Personal Consumer Issues
Topic: Someone bizarrely hacked my Amex online account (Business)
Replies: 1
Views: 352

Re: Someone bizarrely hacked my Amex online account (Business)

Over a decade ago a bank linked my account to someone else’s. It was some time before I noticed, but that person was making ATM withdrawals funded by my account. So perhaps it is an error on Amex’s end.
by Leemiller
Tue Oct 09, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving house to kids with a surviving spouse
Replies: 16
Views: 1840

Re: Leaving house to kids with a surviving spouse

You need legal advice specific to your state. Some states have restrictions on how much spouses can disinherit each other. Generally, sounds like a terrible idea and would cause the adult child harm to leave him an asset that will go to drugs. A trust would help with that. Also, you could get a life...
by Leemiller
Tue Oct 09, 2018 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to pay this car loan off?
Replies: 17
Views: 730

Re: Best way to pay this car loan off?

My car company allows for online principal only payments. That seems to be an easy way to throw money at the loan to shorten the term.
by Leemiller
Thu Oct 04, 2018 7:08 am
Forum: Investing - Help with Personal Investments
Topic: Pay off debt or invest?
Replies: 14
Views: 1225

Re: Pay off debt or invest?

Look into a refi to a 15 year or less term fixed rate mortgage and see when you’d break even on costs and fees. I’d pay off the student loans, set aside something for an emergency fund, and invest the rest personally - using tax shelters depending on your income Roth or not. The bathroom renovation ...
by Leemiller
Sun Sep 30, 2018 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Balance Living Life & Savings
Replies: 17
Views: 2097

Re: Balance Living Life & Savings

A sub 200k income in a HCOL may mean a condo or townhouse is what you can afford, especially on a single income. You are really stretching here even with cash because as you said other expenses will be high. A house that needs work in a HCOL will be extremely expensive and your neighbors will make m...
by Leemiller
Tue Sep 25, 2018 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 154
Views: 12140

Re: Considering Quitting Job - Seeking Advice. Would you do it?

Our HHI is higher than yours and we spend more than you annually, yet I consider $3m to be my FI number. I’m really perplexed as to how $10m isn’t enough? At that point of wealth, I’d start my own business or finally finish one of my in-draft books. Once we have a paid off home and aren’t paying for...
by Leemiller
Sun Sep 23, 2018 10:29 pm
Forum: Personal Consumer Issues
Topic: Dark stain wood floors
Replies: 27
Views: 2419

Re: Dark stain wood floors

Our dark stained floors look great. We have kids,no pets. I love medium to dark floors. We also have someone clean every other week which is often enough. I think it’s the people with pets who have the issue.
by Leemiller
Wed Sep 19, 2018 7:25 am
Forum: Personal Finance (Not Investing)
Topic: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements
Replies: 28
Views: 2125

Re: A Frustration w/ Ally Bank, Trust Account, and Paperless Statements

Move banks. Last I checked there were a number of options. Not sure I’d be risking identity theft or driving out of my way for a bank.
by Leemiller
Wed Sep 19, 2018 7:23 am
Forum: Personal Consumer Issues
Topic: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help
Replies: 82
Views: 3564

Re: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help

Do you own or rent? Overall, I’d say you’ve done a great job so far to have 500k saved. Depending on how it’s invested and how the market does, you will have a million in something like 7-10 years - even without putting any more money in. Once you add social security, your retirement will mean more ...
by Leemiller
Tue Sep 18, 2018 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 93
Views: 4832

Re: Dilemma: Add room to current house or buy new house?

I would just move. Your wife is never going to be happy in your current house, in your current neighborhood. Not sure it makes financial sense/ how affordable it is. Renovations always cost more and take longer than you think. I don’t really go down to our basement either, and that is about 1/2 of o...
by Leemiller
Tue Sep 11, 2018 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Father Wants a Home Mortgage (Bad Credit Score)
Replies: 43
Views: 3203

Re: Father Wants a Home Mortgage (Bad Credit Score)

If grandfather was reporting this to the IRS (unlikely), he would have either reported this as rental income, or as an installment sale on form 6252. If he reported it as an installment sale, perhaps this could be used to show intent, even though there is no contract? I would consider turning the o...
by Leemiller
Sat Sep 08, 2018 12:04 pm
Forum: Personal Consumer Issues
Topic: Can Sneakers go with Business Casual?
Replies: 172
Views: 8528

Re: Can Sneakers go with Business Casual?

Absolutely not.
by Leemiller
Sat Sep 08, 2018 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a pre-owned Mercedes Benz cash?
Replies: 46
Views: 4084

Re: Thoughts on buying a pre-owned Mercedes Benz cash?

I bought a 2014 CPO E350 convertible as my daily drive. Love it. No comparison to our Honda and now my husbands wants a Mercedes as well. I had an issue but since my car was under warranty, it wasn’t a big deal. With your car allowance and driving, I’d definitely get a car that is more fun/nicer to ...
by Leemiller
Sat Sep 08, 2018 8:20 am
Forum: Personal Consumer Issues
Topic: Buy a house that needs full renovation?
Replies: 40
Views: 1742

Re: Buy a house that needs full renovation?

Walk now. You do realize with a renovation you need to cushion 10-15% for issues. Also, you need multiple bids. And not rough estimates, but in writing bids. Our first home required major renovations but nothing like you describe, and we bought one of the cheapest homes in a neighborhood with homes ...
by Leemiller
Mon Sep 03, 2018 8:11 am
Forum: Personal Consumer Issues
Topic: Nanny online payment services - why are they so expensive?
Replies: 30
Views: 3367

Re: Nanny online payment services - why are they so expensive?

We use Breedlove, and I think they are great. I’ve always been happy with their customer service. One added benefit is they inform you of state law requirements and changes in law. In Maryland, there is a requirement to have a written contract with specific provisions within it. Another recent law c...
by Leemiller
Mon Sep 03, 2018 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Using Mint: Am I correct in having my security concerns allayed?
Replies: 11
Views: 1355

Re: Using Mint: Am I correct in having my security concerns allayed?

I only use mint to track spending, but I think you have the gist of it right. The Treasury deptment issued a report in fintech and it has a section on data aggregators and risks. It goes straight to this issue. I will say I don’t use mint for my investing accounts, just checking and credit cards.
by Leemiller
Mon Sep 03, 2018 7:55 am
Forum: Personal Consumer Issues
Topic: Walmart is not Amazon
Replies: 54
Views: 6839

Re: Walmart is not Amazon

I prefer ordering through Walmart for many things. Cheaper than Target and Amazon or even if the same price I get 10% cash back with my upromise credit card and two day shipping. I’ve had issues lately with Amazon and not just third party sellers. I’m about to call them because they refunded some sh...
by Leemiller
Wed Aug 29, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: How to Pass on Money Against My Sister's Wishes (Ethics and Finance)
Replies: 74
Views: 7574

Re: How to Pass on Money Against My Sister's Wishes (Ethics and Finance)

Op, fix that bank account now. I don’t know what you’re trying to accomplish but unless you got legal advice to set it up that way, it could be problematic for you later on. While this is not legal advice, I’m pretty sure there is no state that enforces and oral will. Things need to be written down ...
by Leemiller
Sun Aug 26, 2018 9:29 pm
Forum: Investing - Theory, News & General
Topic: The first million is the hardest?
Replies: 46
Views: 9154

Re: The first million is the hardest?

A family member who is a specialist doctor was laid off a few years ago. They even lay off federal government workers.
by Leemiller
Thu Aug 23, 2018 8:14 pm
Forum: Investing - Help with Personal Investments
Topic: Questions on CDs - FDIC
Replies: 15
Views: 1627

Re: Questions on CDs - FDIC

Yes, separate charters count separately for FDIC insurance purposes.
by Leemiller
Fri Aug 17, 2018 7:14 am
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 98
Views: 8832

Re: Elderly Relative Short on Money

She is going to have to reconcile her desire to not work with her desire not to live in a place she considers a dump. Forget about the dividend plan. Bad idea and you can read probably hundreds of hours worth of discussion here about it (some people will disagree with my conclusion). What happens i...
by Leemiller
Fri Aug 17, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Maternity Leave and Open Enrollment - Insurance costs
Replies: 7
Views: 633

Re: Maternity Leave and Open Enrollment - Insurance costs

This sounds crazy! How can they cut off your medical insurance when you are on maternity leave?!? Also, it isn’t being on maternity leave that is the qualifying event - it should be the birth of a new child. At minimum you can add the baby to the policy.
by Leemiller
Fri Aug 17, 2018 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Financially Wise to Help Adult Child Buy Larger House
Replies: 18
Views: 2178

Re: Financially Wise to Help Adult Child Buy Larger House

You can gift more money it would just count towards your lifetime exclusion from estate tax. Not a big deal. Just speak to your CPA/attorney. I would be very careful not to be overextending your child, the new neighborhood would be more expensive and may create lifestyle inflation. Also, taxes will ...
by Leemiller
Sun Aug 12, 2018 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: $1M in cash - invest or pay down mortgage
Replies: 21
Views: 3817

Re: $1M in cash - invest or pay down mortgage

I think you could use some paid professional advice given the size of the portfolio, along with tax and estate planning considerations. Are you already managing a high six, low seven figure portfolio? No offense, but you seem new to investing and sometimes it is worth paying for professional advice....
by Leemiller
Fri Aug 10, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 5270

Re: Air Conditioning? [How to finance?]

We used a HELOC, cash, TSP (401k) loan mix for some house improvements and paid it off quickly. We had the money but didn’t want to cash in investments or drop our emergency funds too much. My TSP loan was basically where I would pay myself interest, unlike some 401k loans I could also pay it off us...
by Leemiller
Fri Aug 10, 2018 6:32 am
Forum: Personal Consumer Issues
Topic: First time taking kids to airport..
Replies: 28
Views: 2401

Re: First time taking kids to airport..

Uber has a more expensive option with car seats, in my area the drivers are also professional I think. Just as a head’s up I’ve never had a shuttle driver help me with luggage and taxi/uber drivers almost never do - so I think you need to be prepared to do everything yourself. If you get a private c...
by Leemiller
Tue Aug 07, 2018 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 7090

Re: DW job in dangerous area

I lived in a neighborhood like that. After many cat calls, some that were crude and threatening, my last straw was a large rock throw at my head.
by Leemiller
Tue Aug 07, 2018 7:03 am
Forum: Personal Consumer Issues
Topic: Relaxing - quieting the mind
Replies: 47
Views: 3153

Re: Relaxing - quieting the mind

A friend recently tried one of those sensory deprivation tanks - she said it was amazing and quieted her mind. I’m planning on trying that myself. Otherwise, I find that vacations, maybe even more so a short girls’ trip does wonders for me.
by Leemiller
Sun Aug 05, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Baby on way: life insurance Qs
Replies: 27
Views: 1530

Re: Baby on way: life insurance Qs

My husband and I both have life insurance through work and a stand-alone policy. The stand-alone would pay off our mortgage and cover college. Without a mortgage, either of our incomes would be more than enough to keep the family home and lifestyle as it is now. Personally, I like having a stand-alo...
by Leemiller
Sun Aug 05, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Few weeks into new job recieved significantly better offer elsewhere
Replies: 103
Views: 10299

Re: Few weeks into new job recieved significantly better offer elsewhere

Op,

I took a term position with the understanding I’d be permanent in no time. It didn’t happen for a long time and by then I was pretty upset and stressed out. Never again. I also did so based on a higher salary than a permanent position.
by Leemiller
Thu Aug 02, 2018 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Land Purchase Possible or Forget About It?
Replies: 20
Views: 1815

Re: Land Purchase Possible or Forget About It?

I wouldn’t offer 8k. Take a look at assessed value for tax purposes and offer a bit more than that. Also, do you actually own the land your house is on, as in you are on a valid and executed deed? Do you have siblings? It isn’t clear that you will be the only person to inherit your parent’s house an...
by Leemiller
Fri Jul 27, 2018 7:13 am
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 10077

Re: Toughest Purchase of my Life. Engagement Ring time

Congratulations! I used to insure through Chubb, now we would just replace if something happened. I have met women who aren’t interested in engagement rings, but so far they all live on the internet.
by Leemiller
Thu Jul 26, 2018 3:50 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 207
Views: 10077

Re: Toughest Purchase of my Life. Engagement Ring time

Personally, I think you should drop your budget given your income and savings. But I think spending a few thousand is reasonable and appropriate.
by Leemiller
Mon Jul 23, 2018 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Buying home, how to head off a bidding war.
Replies: 29
Views: 3924

Re: Buying home, how to head off a bidding war.

I think 4 hours is unreasonable, if I was a seller I’d probably just ignore that offer. But maybe 24-48 hours is ok. Then you can add instead of an escalation clause “call us.” This happened to us and it worked out well for the party that used that trick.
by Leemiller
Mon Jul 23, 2018 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Pay for college with cash flow
Replies: 78
Views: 5293

Re: Pay for college with cash flow

I would save something each year in a 529 or ESA for college. But I’m assuming my kids will go to both college and graduate school. Maybe it’s cultural thing, but in my cultural background this isn’t even a question. Personally, given the cost I think it’s good to go ahead and save a little each yea...
by Leemiller
Sun Jul 22, 2018 9:33 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 120
Views: 16808

Re: New book based on Millionaire Next Door

Dave Ramsey is also coming out with a book based on a survey he conducted of his listeners who are millionaires. I think that may be an interesting read as well. The bias on this forum for higher earners having nothing to show for it is a bit over the top. Based on knowing a lot of attorneys, I don’...
by Leemiller
Sat Jul 21, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 13782

Re: Should I Dump a Pile of Money on Young Son?

Well offering 1/2 a new car isn’t the same as offering a new car, so I’m not sure that counts for much. I would at minimum begin cutting some checks for estate planning purposes if you decide not to disclaim the full amount. But I’m in favor of watching my kids enjoy the money that they will inherit...
by Leemiller
Sat Jul 21, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Salary vs. Lifestyle
Replies: 142
Views: 17599

Re: Salary vs. Lifestyle

For the OP, I would take care to ensure that what you’re being told about overtime and being on call for each position matches reality. Then the FERS system isn’t that great. You are putting in a rather high percent (maybe 4%?) for something like 1% of your salary - not indexed to inflation - that i...
by Leemiller
Mon Jul 16, 2018 7:16 am
Forum: Personal Consumer Issues
Topic: How much furniture spending is ok?
Replies: 46
Views: 3167

Re: How much furniture spending is ok?

You spent what I consider to be a lot on a car, but you’re buying cheap furniture based on the info you’ve provided. I don’t see how 1k on some indoor furniture is a big deal when you have a 39k car? I would budget more but avoid buying too much until you buy your new home. Take a mid-range retailer...
by Leemiller
Thu Jul 12, 2018 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Cash out taxable account to payoff student loans?
Replies: 6
Views: 667

Re: Cash out taxable account to payoff student loans?

I wouldn’t pay them off until after the baby was born. Also, not sure if your wife is working or not, but that may also impact my decision to wait. Some of this is career based, I like having a big emergency fund given my current career choice. Another piece of advice is for both of you to have term...
by Leemiller
Tue Jun 26, 2018 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: $1 million house--- sanity check
Replies: 101
Views: 12113

Re: $1 million house--- sanity check

The seller would take a contingent offer? Because you have almost no cash. Personally, I think you need to knock out the debt and save up some cash.
by Leemiller
Mon Jun 18, 2018 8:11 am
Forum: Personal Consumer Issues
Topic: how to make friends in new location?
Replies: 96
Views: 8900

Re: how to make friends in new location?

I agree with 2015 and especially about Victoria. I too am more careful about who I spend my time, part of this is due to working full time with kids, but partially I realized recently that I wasn’t seeing enough of my closest friends but too much of people who made interaction easy. I’m interested i...
by Leemiller
Mon Jun 18, 2018 7:44 am
Forum: Personal Consumer Issues
Topic: African Safari: Worth it or Hype?
Replies: 57
Views: 5091

Re: African Safari: Worth it or Hype?

We did a private safari in Tanzania. Worth it. Also, it was great to have a private tour so everything was on our terms. If we wanted to stop and just watch a cheetah family for two hours while we had lunch, we did. We passed by one tour bus with someone getting sick over the side on our way to see ...
by Leemiller
Sat Jun 16, 2018 8:44 am
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 7550

Re: can we afford to spend $20K on travel annually

There are some great travel options in that price range both in terms of accommodations and experiences. Unfortunately, unlike others on this thread I could easily spend that and even have a wish list of places to go. We did one last year at a lucky discount, and I loved it. We did a private safari ...
by Leemiller
Thu Jun 14, 2018 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: 47 and clueless - direction needed
Replies: 60
Views: 8608

Re: 47 and clueless - direction needed

You are in a low tax bracket and you don’t get a 401k match so I’d open a Roth and focus on fully funding it each year. That’s 5,500 a year. You can also use it as an emergency fund if needed. Have you checked your expected social security benefit? You don’t have a ton saved, but your living expense...