Search found 1345 matches

by Leemiller
Mon Jan 01, 2024 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Elderly parent with no retirement savings?
Replies: 25
Views: 6075

Re: Elderly parent with no retirement savings?

PS not surprised at a $500 SS amount. My parents didn’t work much and my mother’s was barely more than that with my father’s at about $1,000 a month. It is a burden dealing with parents who are in this situation but it’s never just one bad decision, it’s a series of bad decisions.
by Leemiller
Mon Jan 01, 2024 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Elderly parent with no retirement savings?
Replies: 25
Views: 6075

Re: Elderly parent with no retirement savings?

Sorry you’re going through this. I think you need to consider if co-owning a home really makes sense for both of you in the long term vs her potential assistance if she didn’t have that asset. You may wish to consult an elder care lawyer about Medicare and nursing home assistance, etc. Are there any other heirs? What happens if she needs to liquidate her share of the home for nursing home or other expenses, or if her estate owes money? You’re really the one paying for the home and I question how much here has been 50/50. You need to protect yourself. If you want to be married and potentially have children of your own, it’s ok for you to prioritize that. I’m a woman, and I know the responses have been supportive but in American culture it’s ...
by Leemiller
Sat Aug 27, 2022 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Layoff - resign prior to end of continuation period to accept new external job
Replies: 47
Views: 3849

Re: Layoff - resign prior to end of continuation period to accept new external job

Why are you even telling your former employer about your new job? I think you are really overthinking this.

I’m on severance right now which lasts 6 months and isn’t tied to me getting a new job. I’m starting a new job so I’m getting double paid for a couple of those months.
by Leemiller
Sat Aug 27, 2022 12:30 pm
Forum: Personal Investments
Topic: Any Reason to Stay in TSP
Replies: 75
Views: 10524

Re: Any Reason to Stay in TSP

I’ve been rolling money into the TSP from ex employer 401ks. This thread is giving me some helpful new information. My primary reason was I do a back door Roth every year and do not wish to convert my several hundred thousand dollars in TSP funds at this time - at least my understanding is I can’t keep doing a back door Roth each year if I also have a traditional IRA.
by Leemiller
Sun May 29, 2022 9:14 pm
Forum: Personal Consumer Issues
Topic: Buying a home knowing you want kitchen rennovated
Replies: 18
Views: 2918

Re: Buying a home knowing you want kitchen rennovated

We did this. Cost came in under six figures, but we did some pricy appliances and fixtures. Taking down the wall was no big deal, the bigger costs we upgrading electric, cabinets and appliances. Flooring also was pricey as we redid old wood floors and added new ones stained to match.
by Leemiller
Sun May 29, 2022 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advise me on Underwater employee stock options
Replies: 31
Views: 4493

Re: Advise me on Underwater employee stock options

I’m in a similar position, and I’m actively looking but only going to jump ship for a better opportunity. Frankly retention and recruiting for companies with big drops is extremely challenging.
by Leemiller
Sun May 29, 2022 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: New baby - conflicted on paternity leave??
Replies: 123
Views: 10041

Re: New baby - conflicted on paternity leave??

You need to take it. One reason is you will annoy many of your female coworkers if you don’t for obvious reasons.
by Leemiller
Sun May 29, 2022 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house back 2 years later
Replies: 46
Views: 6573

Re: Buying a house back 2 years later

Having dated several exes I can confidently state the second time around was not what I dreamed. Go find another house or better yet rent a livable place and watch the market. I’m sitting on cash waiting to buy a place in Florida but it’s early yet.
by Leemiller
Sun May 29, 2022 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Share your Net Worth Regression
Replies: 350
Views: 60141

Re: Share your Net Worth Regression

No idea what we are down. When the market is down, I stop looking. Our house is up quite a bit and that may offset. One thing I didn’t count in our net worth was my RSUs - almost a seven figure loss - and no, I couldn’t have sold when they were up.
by Leemiller
Sun May 29, 2022 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Share your Net Worth Regression
Replies: 350
Views: 60141

Re: Share your Net Worth Regression

shepherd wrote: Mon May 09, 2022 9:33 pm Down about $1m (7.5 to 6.5), house excluded. Now is when I second guess the 95/5 allocation...
I don’t know that bonds have held up particularly well. We have a similar allocation with a bit more in cash as well. Maybe 5% cash or so?
by Leemiller
Fri Oct 15, 2021 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Telling Kids about 529 plans
Replies: 110
Views: 9346

Re: Telling Kids about 529 plans

Did some of you forget what’s it like to be young? I would have tried harder if I knew my college costs would be covered. As things stood, I always had to compromise where I could get it with cost and it was extremely stressful. My elementary school kid already knows if she gets into a great school, it’s covered.
by Leemiller
Wed Dec 30, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Use CARES Penalty Free 401k Withdrawal to Pay Student Loans?
Replies: 59
Views: 3736

Re: Use CARES Penalty Free 401k Withdrawal to Pay Student Loans?

CoastLawyer2030 wrote: Wed Dec 30, 2020 9:59 am I should also add that I intend to basically replenish my 401k ASAP.

My wife and I already have budgeted to save $48,000 next year ($19,500 my deferred comp, $16,500 my city pension, and $12,000 to Roth IRAs). So we will rebound.

Not sure whether this changes the analysis -- seems like cutting one end off the blanket to sew on the other.

Peace of mind and better monthly cash flow are incredibly appealing to me, though.
Well then just stop all retirement contributions now and focus on paying off the loans. Also, you can pull your Roth contributions tax free I believe after a certain number of years. But what you’re proposing makes no sense to me.
by Leemiller
Fri Sep 11, 2020 10:56 am
Forum: Personal Consumer Issues
Topic: Miele Appliances for New Build Condo
Replies: 43
Views: 4183

Re: Miele Appliances for New Build Condo

You need a kitchen designer was my first thought. Our designer got us discounts on various items, not so much on appliances. Like another poster, we have a microwave on our pantry counter and its a cheap one. We were concerned with appliances breaking and then new ones not fitting into our semi-custom cabinets. We have a Miele dishwasher and went with Wolf/Subzero for our fridge/oven. Oven is 36 and plenty large enough. If I had to do it over, I would add a second dishwasher, might have added a sink to my island for prepping and maybe a small second oven and/or a small freezer to add refrigeration space. We have countertop coffee items given our brand preferences. Being a couple of years into our remodel, I'm not sure I would spend so much ...
by Leemiller
Fri Sep 11, 2020 10:37 am
Forum: Personal Consumer Issues
Topic: Miele Appliances for New Build Condo
Replies: 43
Views: 4183

Re: Miele Appliances for New Build Condo

WL2034 wrote: Thu Sep 10, 2020 11:28 am Random question, but while on the topic: anyone with a Miele dishwasher that doesn't dry dishes very well? They're always clean, but always lots of moisture.
We do. It is annoying and we have to put dishes on our counter to dry.
by Leemiller
Fri Sep 11, 2020 10:30 am
Forum: Investing - Theory, News & General
Topic: Rollover into TSP when no longer in gov't
Replies: 3
Views: 566

Rollover into TSP when no longer in gov't

I no longer work for the government, I'm in the private sector now. I'm changing jobs and would like to rollover my 401k into the TSP. Has anyone done this and how recently? I had rolled over a 401k into my TSP when I was in the government, but am not sure you can be separated and do this. I'd like to do this to minimize the amount of accounts I have and to continue to keep my ability to use a Roth IRA, these funds aren't Roth and I'd prefer not to take the tax hit.
by Leemiller
Thu Jul 30, 2020 10:33 pm
Forum: Personal Consumer Issues
Topic: Better toddler sneakers than New Balance?
Replies: 19
Views: 1818

Re: Better toddler sneakers than New Balance?

Good kids shoes are expensive, just like good adult shoes. I don’t think you’ll save much unless you drop in quality materially.
by Leemiller
Fri Jul 17, 2020 8:51 pm
Forum: Personal Consumer Issues
Topic: When to take a sabbatical year (as my kids grow up)
Replies: 29
Views: 3586

Re: When to take a sabbatical year (as my kids grow up)

You’d have to home school them to keep them on track for their grade. I’m not aware that you can pull kids out of school and drop them back in a year behind whenever you want. Based on my own memories anything before middle school is fuzzy and can’t imagine being pulled from
my friends to hike for a couple of months at that point.
by Leemiller
Tue Jun 23, 2020 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Do [we] need life insurance?
Replies: 28
Views: 2745

Re: Do [we] need life insurance?

We keep enough insurance to pay off the house and fund the rest of the kid’s college, and we both earn similar high incomes with young kids and a decent amount saved. If something happened to my husband, I think I’d need time off work.
by Leemiller
Tue Jun 23, 2020 12:51 am
Forum: Personal Finance (Not Investing)
Topic: Real estate syndicates: Talk me into (or out of) it
Replies: 42
Views: 8074

Re: Real estate syndicates: Talk me into (or out of) it

They can be great, terrible and everything in between. The details matter. It is very hard to evaluate deals without experience. In general you want a hungry sponsor with a lot of their own money in the deal, a preferred return that gets paid current and is senior to any distributions and a clear understanding of all fees. You also want to avoid a capped upside and understand your ability to sell/transfer, if any. You’re really betting on the sponsor and the deal; if there is not a good answer as to why you’re being offered the opportunity, run. Bill, thanks for posting. 1) What questions could I ask or what numbers could I ask to see in order to assess whether the sponsor is hungry? 2) What would be a good answer to why I'm being offered ...
by Leemiller
Tue Jun 23, 2020 12:45 am
Forum: Personal Finance (Not Investing)
Topic: Letting my company know I'm looking?
Replies: 43
Views: 5422

Re: Letting my company know I'm looking?

Say nothing until you have an offer, have cleared background checks and have a start date. Too many things can (and sometimes do) go wrong. Then push the start date out about three weeks so that you can say you spoke to a company and expect and offer because they want to move quickly.
by Leemiller
Wed Jun 17, 2020 9:34 pm
Forum: Personal Consumer Issues
Topic: Daycare - paying to hold a spot
Replies: 45
Views: 4155

Re: Daycare - paying to hold a spot

We have two kids at home and while we had a different childcare situation, I would cut off the payments to daycare and relax knowing that there are plenty of good daycare options in your area. But then I don’t believe in an educational focus for a three year old - I looked for nice people and a clean space with a good teacher / kid ratio and good location. Right now we have an older child who helps, but it is extremely difficult to handle two jobs with kids. We’re considering hiring someone again but are in a holding pattern for now due to some job related uncertainty. Meanwhile my sister is in another state and they never shut down her daycares. It is all extremely frustrating and stressful. Final thought - cut the daycare and superfund a ...
by Leemiller
Wed Jun 17, 2020 9:18 pm
Forum: Personal Investments
Topic: Your thoughts on a <= 10% allocation to PHYS - Sprott Physical Gold Trust
Replies: 25
Views: 3840

Re: Your thoughts on a <= 10% allocation to PHYS - Sprott Physical Gold Trust

My understanding is that quite a bit of the price of gold is due to consumption from India/the Middle East and that this consumption isn’t playing out the same way for the younger generation. For that reason, I’ve eliminated gold in my portfolio.
by Leemiller
Wed Jun 17, 2020 1:53 pm
Forum: Personal Consumer Issues
Topic: Engagement Ring Help
Replies: 85
Views: 7003

Re: Engagement Ring Help

Any recommendations on places to buy an emerald engagement ring? Nothing too flashy just something where I'm not totally getting ripped off. My GF is not a diamond person (for whatever reasons). Thanks. Emeralds are not a good choice for an engagement ring that is worn daily. They are a soft stone and chip easily. Sapphire would work better. Right. How about a 3-stone ring, with a diamond center, and 2 smaller emeralds on the side, set lower? Then the emeralds are less likely to get "hit"/etc. The diamond should sort of protect them. Or get a bezel setting, which might (MIGHT) help? (It would protect all the edges.) RM I would not wear an emerald ring everyday or a ring with emeralds on the side. But I've chipped an emerald ring....
by Leemiller
Wed Jun 17, 2020 1:52 pm
Forum: Personal Consumer Issues
Topic: Valuable antiques that don't fit your aesthetic?
Replies: 23
Views: 1303

Re: Valuable antiques that don't fit your aesthetic?

Actually the tide is turning here as tastes are shifting - look up grandmillenial. Please don't ruin antiques by renovating - whatever that means. I imagine spraying white lacquer paint on a piece of federalist furniture and shudder. I think a few well placed antiques add a lot to a modern decor but if you don't want them just sell them at auction or to a dealer. If you have kids and some items are multi-generational, those might be worth getting a storage room for - I mean if they are Sotheby's level antiques. You kids might not like what you like. We have some more modern antiques - Deco era and on - and while I hope my kids love them, I won't get mad if they don't (since I'll be gone!)
by Leemiller
Wed Jun 17, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Too Much Retirement/Not Enough for House?
Replies: 127
Views: 15030

Re: Too Much Retirement/Not Enough for House?

I live in the same area and housing is very expense. I can't tell exactly what your income is but I would keep my mortgage under 3-4x salary, in addition to looking at payment amount. We bought a house on a 30 year at around age 40 and are looking to refi to a 20 year to shave a few years off. We do plan on selling the home when our kids are out of the house, but we also want the flexibility to keep it. Have you looked at condos/townhouses? Some of those have really nice amenities - such as pools or game rooms - and it would be easier to maintain/afford. I think your price point seems too high based on what you've posted. You say you're ok with a home that hasn't been upgraded, but things come up and this area is extremely expense to renova...
by Leemiller
Mon Jun 08, 2020 9:00 pm
Forum: Personal Consumer Issues
Topic: Engagement Ring Help
Replies: 85
Views: 7003

Re: Engagement Ring Help

rich126 wrote: Mon Jun 08, 2020 3:29 pm Any recommendations on places to buy an emerald engagement ring? Nothing too flashy just something where I'm not totally getting ripped off. My GF is not a diamond person (for whatever reasons).

Thanks.
Emeralds are not a good choice for an engagement ring that is worn daily. They are a soft stone and chip easily. Sapphire would work better.
by Leemiller
Mon Jun 08, 2020 8:51 pm
Forum: Investing - Theory, News & General
Topic: Markets back near all time highs - how are you feeling and path forward ?
Replies: 238
Views: 25027

Re: Markets back near all time highs - how are you feeling and path forward ?

Trying to second guess the market seems to me to have the same likelihood of success as trying to figure out why my ex acted the way he did. Futile. So I don’t do anything in a down market except stay the course, I especially don’t look. Then at moments like this I enjoy the surprise of finding out things are better than I would have expected.

I’m just not sure I see the point of trying to rationalize it. There are PhDs in economics and finance who get it wrong all the time. Easier to accept you know nothing and stay the course.
by Leemiller
Mon Jun 08, 2020 11:43 am
Forum: Personal Investments
Topic: Haven't been sleeping well.. thinking of getting super conservative with AA
Replies: 69
Views: 8548

Re: Haven't been sleeping well.. thinking of getting super conservative with AA

It is important to consider how your spouse feels about this allocation. I think what you’re proposing is irrationally conservative but what matters is what your spouse thinks.

Personally, we are almost all stocks with very little in bonds. I just stopped looking at our portfolio as the market cratered earlier this year. Started looking again a few weeks ago and am happy to have stayed the course. Panic in a down year and you miss some of the big returns that can completely change how quickly you can retire and in what sort of lifestyle.
by Leemiller
Thu Jun 04, 2020 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: I'm afraid to start spending more but is it's ok to do so?
Replies: 31
Views: 5836

Re: I'm afraid to start spending more but is it's ok to do so?

Yes, of course you can spend more. You have about 1.1m, leaving aside what you have in cash. So at 4%, that is an additional 44k a year. Personally, I’d likely take SS early and if you’re really fearful about spending, get an annuity to cover your expenses so that you have more security.
by Leemiller
Thu Jun 04, 2020 8:48 pm
Forum: Personal Investments
Topic: Considering setting up a trust for young child in case we pass away
Replies: 23
Views: 3603

Re: Considering setting up a trust for 1-year-old. Are we good candidates?

wassabi wrote: Thu Jun 04, 2020 9:23 am We are in a similar position (age, assets, child) and going with a will that has a testamentary trust that will be established upon our demise. It's a cheaper option now and allows us to move our assets to a trust to be administered to our child upon our deaths.
We took this path and have higher assets. A trust is needed for minor children but it can be formed after death vs in advance. You may want a second legal opinion.
by Leemiller
Thu Jun 04, 2020 8:41 pm
Forum: Personal Consumer Issues
Topic: Nursing home has requirements for employees' private lives due to covid
Replies: 38
Views: 3438

Re: Nursing home has requirements for employees' private lives due to covid

I would call a few attorneys for their thoughts. There might be an issue here because she’s in effect subject to their rules 24/7. It seems outrageous to me, and if I was her I would look for a new job.

Edited to ad, I did a quick search and one law firm said state and local laws can limit what employers can require of their employees when they are off duty. This is to protect employees. Again, my recommendation to call a few attorneys stands.
by Leemiller
Tue Jun 02, 2020 1:36 pm
Forum: Investing - Theory, News & General
Topic: DR recommending i stay home from work for entire 3ed trimester of Pregnant Fiancé
Replies: 46
Views: 4662

Re: DR recommending i stay home from work for entire 3ed trimester of Pregnant Fiancé

Is there a risk factor here? Two friends have had babies and neither received this advice. One is married to an essential worker. And yes, employment gaps look bad.
by Leemiller
Mon Jun 01, 2020 10:52 pm
Forum: Personal Consumer Issues
Topic: Non Fiction books for teenagers
Replies: 52
Views: 3838

Re: Non Fiction books for teenagers

I read mostly fiction and certainly didn’t read nonfiction at that age. How about a subscription to MasterClass? I am deeply enjoying mine and the lecturers are all successful and passionate about what they do. But if you really want to interest the more artistic bent teen books like Grit sound a bit torturous to me. I’ve read it and force read a couple of management books a year, but I do it to learn for work. At that age I would have loved to have read Catcher in the Rye, while I didn’t I was reading classic literature. How about a Shakespeare play - perhaps Much Ado about Nothing, then watch the Joss Whedon film version together. Read some poetry by Emily Dickinson together. Have her learn more about an artist whose work she admires. Als...
by Leemiller
Sun May 31, 2020 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: 50% pay cut: moving advice
Replies: 68
Views: 5888

Re: 50% pay cut: moving advice

I would also sell. Also, what are you going to do if someone moves in and doesn’t pay rent and perhaps even damages the property. Evocations are halted in many jurisdictions right now. It’s really made me question if I ever want to landlord. And most people wouldn’t have a rental that is much nicer than their primary home. Someone else raised the point about new job security. It is one you should not discount.
by Leemiller
Sat May 30, 2020 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 152
Views: 15286

Re: Simple jobs during FATFire?

randomguy wrote: Thu May 28, 2020 9:55 pm
fatFIRE wrote: Thu May 28, 2020 9:41 pm Ok back to OP topic...

I've always thought that retiring as a professor (teaching not research) would be a nice job post FIRE. You get lots of flexibility, healthcare... pay is not good (but you don't care at that point). The trouble is getting a tenured teaching position when you have zero track record.
I think being on a S&P 500 board and getting paid a couple hundred k for 10 days of meetings/year is a much better gig:) Odds are probably higher than getting to be a teaching prof with benefits...
A board seat or three is my plan.
by Leemiller
Sat May 30, 2020 2:36 pm
Forum: Personal Consumer Issues
Topic: Face mask recommendations
Replies: 173
Views: 15901

Re: Face mask recommendations

I have a hard time breathing in the rather flimsy disposable paper masks we have. Wouldn’t these recommendations usually be harder to breath in? Am I the only one stopping and taking breaks to try and catch my breath and readjust the mask as I grocery shop?
by Leemiller
Sat May 30, 2020 1:30 pm
Forum: Personal Consumer Issues
Topic: Lifelong New Yorker relocating to Philly for FIRE?
Replies: 39
Views: 3815

Re: Lifelong New Yorker relocating to Philly for FIRE?

Why don’t you just spend more on rent and move to a better location in NYC? There is no major US city where you can get a great downtown place to live by yourself and spend 25k a year to live. You’re not being realistic. Also, how much is a comparable place closer to the action vs how you’d ‘like to live.’ Personally, I’d spend more and enjoy the journey more. If you’re planning on a spouse/kids one day even more so.
by Leemiller
Sat May 30, 2020 9:44 am
Forum: Personal Investments
Topic: Where to save extra income?
Replies: 15
Views: 1821

Re: Where to save extra income?

I save mine in an index fund with low turnover for tax purposes. I also have a Roth but the index fund is where excess money goes over my emergency fund.
by Leemiller
Sat May 30, 2020 9:42 am
Forum: Personal Investments
Topic: Time for a new house?
Replies: 35
Views: 3617

Re: Time for a new house?

No, I don’t think people usually liquidate everything they have when they buy a home. When we bought our first home we still had at least a one year emergency fund, maybe more, it’s been awhile.

I would sell. What are you going to do if someone moves in and doesn’t pay rent - evictions aren’t happening right now. Too much risk for me. Plus doesn’t SF have a weak rental market with lower rates of return? For the time you’re waiting out a 100k bump in sales prices you’d also be missing out on investing some of that money in the market.
by Leemiller
Fri May 29, 2020 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or rent $2m house?
Replies: 52
Views: 4996

Re: Sell or rent $2m house?

Sell. I just read somewhere that people renting beach homes in the Hamptons are refusing to vacate given that evictions are halted. Further, if you really wanted to diversity with rental property I can’t imagine you would have bought your home for that purpose. If not, you should sell.
by Leemiller
Mon May 25, 2020 11:11 am
Forum: Personal Consumer Issues
Topic: Pandemic buys that have improved quality of life?
Replies: 185
Views: 23260

Re: Pandemic buys that have improved quality of life?

TomatoTomahto wrote: Sun May 24, 2020 8:38 pm Sit/stand desk
Milk frother
Tennis ball machine
Floor cleaning machine
Actually purchased before pandemic, but appreciate washlet toilet more than ever
Which milk frother did you get? We have a cheap handheld that I really like but the foam doesn’t last very long / compare to a real latte so I’m interested in upgrading.
by Leemiller
Sat May 23, 2020 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: hurting savings cushion vs. taking advantage of 0% interest on federal student loan COVID-19 forbearance
Replies: 5
Views: 628

Re: hurting savings cushion vs. taking advantage of 0% interest on federal student loan COVID-19 forbearance

I would not be able to sleep well with a two month emergency fund. Really getting that to 6-12 months should be priority number one.
by Leemiller
Fri May 22, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 46266

Re: The axe falls and I am prepared. What's next?

I’m sorry to hear it but glad you are so prepared and have encouraged others to be so prepared.

The great thing is you don’t have to decide anything now! I would personally take the higher unemployment until July and then reevaluate. I might also see if there was work that interested me, paid or perhaps as a volunteer. Maybe even a fun part-time job when things are different - hopefully in 6 months or a year. Perhaps your wife can even work a bit more if needed, but I agree with others that you are in great shape for an early retirement.
by Leemiller
Wed May 20, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Contemplating expensive house purchase during pandemic
Replies: 41
Views: 5026

Re: Contemplating expensive house purchase during pandemic

I would rent a house - maybe rent with an option to buy if you want get it. You don’t say how much you have saved so far, that is a pretty critical piece of information. Also, I’d aim closer to 1.5m than 2m at your income.

Frankly it is a miracle your MIL put up with that living arrangement as long as she did.
by Leemiller
Wed May 20, 2020 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1276979

Re: Refinance Mega Thread

Goal33 wrote: Tue May 19, 2020 9:46 am
Leemiller wrote: Tue May 19, 2020 9:44 am Anyone pay down a jumbo to get a better rate as a confirming loan? We are maybe 50-60k from a confirming loan with a 30 year fixed 3.5% jumbo. I’m considering a pay down to see if I can refi to a 20 year fixed at sub 3%.
I am getting confused on this myself. Do you need to pay it below 765 or 510?
Depends on where you live. I’m in a HCOL so I need to get below 765. Look on the fhfa.gov website - you can google jumbo confirming limit.
by Leemiller
Tue May 19, 2020 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 12862
Views: 1276979

Re: Refinance Mega Thread

Anyone pay down a jumbo to get a better rate as a confirming loan? We are maybe 50-60k from a confirming loan with a 30 year fixed 3.5% jumbo. I’m considering a pay down to see if I can refi to a 20 year fixed at sub 3%.
by Leemiller
Mon May 18, 2020 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Income about to be halved - what do we do?
Replies: 62
Views: 8728

Re: Income about to be halved - what do we do?

I’m assuming you have term insurance on each of you? Insurance seems expensive for two term policies for 30 year-olds. Consider looking at your deductible on auto insurance. We eliminated some coverage for a older car we had. I’m assuming your child is currently in daycare? Worst case, if one of you loses your job, you can take care of the toddler at home to cut back. Do you really need a tractor? Also, $700 a month on pets is extremely high - as others have noted. I would just hoard cash in as big a pile as you can. No need to pay off the mortgage or make any such decisions now. You already know how much lower your budget can go if needed. It is a tough time, but you’re really young and have a lot saved with less debt than most. Try to kno...
by Leemiller
Fri May 15, 2020 9:15 am
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 69217

Re: How Is Your Job Being Impacted By The Current Crisis?

Some rural hospitals are already closed due to this. Ending ‘elective’ procedures is a death blow. Elective including cancer treatments among other treatments and so revenues at hospitals are decimated while beds sit empty, just in case.

For the legal profession, major law firms are reducing pay between 20-30% and some are laying off staff because they don’t believe their clients will pay based on what they are seeing in billing receivables.

We might be down to one reduced income and luckily can still make things work without dipping into emergency funds. Nothing is certain yet.
by Leemiller
Thu May 14, 2020 9:55 am
Forum: Personal Consumer Issues
Topic: "Fancy" drip/pour-over coffee makers
Replies: 55
Views: 6002

Re: "Fancy" drip/pour-over coffee makers

I have a Moccamaster as well that replaces a very cheap coffee maker that gave up the ghost. We like it, but I’m not sure how much of a difference I can taste. It does seem to make coffee faster than our old machine fwiw. I’ve been looking into a grinder because I do think that might be keeping us from getting the most out of the Moccamaster.