Search found 666 matches

by LateStarter1975
Fri Oct 19, 2018 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Help with college age sons Roth IRA options...
Replies: 15
Views: 771

Re: Help with college age sons Roth IRA options...

Just to ask you about this. A family friend's son has asked me about helping him to open a Roth IRA to invest the income he made from summer job this year. Does opening a Roth IRA for a minor (he is 14) with Vanguard require the parent to be a custodian to the account? How does that process work? I...
by LateStarter1975
Thu Oct 18, 2018 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Help with college age sons Roth IRA options...
Replies: 15
Views: 771

Re: Help with college age sons Roth IRA options...

I just opened up a Roth IRA for my daughter who just started college. The main advice I can offer is that you can only deposit up to the amount the child earns in a given year. For her, it will probably be about $500 like yourself. I'm going to encourage her to invest it in a low-cost total market ...
by LateStarter1975
Thu Sep 20, 2018 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 83
Views: 7461

Re: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?

Even Dave Ramsey suggests you put at least 15% of your gross income into retirement before you pay off your house...unless the 5% you put to get the match + your 2 Roths + HSA will get you to that 15%. Personally, I share your enthusiasm about paying off your mortgage early, but I am doing mine only...
by LateStarter1975
Thu Sep 20, 2018 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 83
Views: 7461

Re: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?

Something about the numbers felt off to me, so I found a prepayment calculator and began experimenting. Increasing payments by $1600 monthly would take nearly 12 years to pay it off (141 payments). To do it in 84 payments you would need to increase the payment by nearly $3600 per month. I think he ...
by LateStarter1975
Thu Sep 20, 2018 10:11 am
Forum: Investing - Theory, News & General
Topic: Are We Headed For A Passive Index Meltdown?
Replies: 60
Views: 9350

Re: Are We Headed For A Passive Index Meltdown?

EyeYield wrote:
Thu Sep 20, 2018 8:44 am
If everybody got in their cars and drove at the same time, we would be headed for a transportation meltdown.

Very nice analogy
by LateStarter1975
Wed Sep 19, 2018 1:31 pm
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 73
Views: 4105

Re: “Majority of working-age Americans have no retirement savings”

I'm not going to be the one to report this, since it's a grey area and particularly since the discussion has stayed civil, but I'd like to remind everyone of forum policy , particularly the section on "unacceptable topics" that includes: discussions of the crimes, shortcomings or stupidity of other...
by LateStarter1975
Thu Jul 19, 2018 9:00 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 120
Views: 16786

Re: New book based on Millionaire Next Door

Can't wait to read this book. Already on my reading list on amazon. However, I usually buy my books used so will have to wait a while....
by LateStarter1975
Thu Apr 26, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: White Coat Investor Interviews Paul Merriman
Replies: 37
Views: 7027

Re: White Coat Investor Interviews Paul Merriman

I do appreciate all the kind comments, and for those who disagree with my beliefs, it would be fun to have a debate sometime. Since I don't recommend investors use timing, I have no problem with those who don't believe in timing. For those who think large cap blend (S&P and Total Market Index) is b...
by LateStarter1975
Fri Mar 02, 2018 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Net worth progression: what am i doing wrong?
Replies: 32
Views: 7420

Re: Net worth progression: what am i doing wrong?

Hi, I am a 26 year old working in the tech sector with a $95k annual salary. Because my current place of living is prohibitively expensive to live alone, i live with roommates. Hence i spend only 1/4th of my after-tax salary and i do not have a car and a I am single. I have been earning this salary...
by LateStarter1975
Mon Feb 26, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: What books changed your outlook on how you should invest?
Replies: 54
Views: 5037

Re: What books changed your outlook on how you should invest?

I've read >100 books on investing. By far the greatest impact on me was "The Boglehead's Guide on Investing"
by LateStarter1975
Sun Feb 04, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: [Flawed?] Paying off mortgage in 5 years
Replies: 39
Views: 3762

Re: [Flawed?] Paying off mortgage in 5 years

raisinsaregrapes wrote:
Sat Feb 03, 2018 11:47 pm
The only way to pay off the mortgage faster is to pay off the principle on top of your mortgage payments. If you can't do it the simple way, you wont be able to do it with smoke and mirrors either.
+1
KISS (Keep it Simple Sweetheart)
by LateStarter1975
Sat Jan 13, 2018 9:23 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey's Millionaire Study
Replies: 59
Views: 13328

Dave Ramsey's Millionaire Study

Dave Ramsey says he is conducting the largest millionaire study in the country (he wants to get about 10,000 respondents) and intends to publish the results in the next few weeks or months. I wish I could participate, but I'm still not close to the 2 comma club. Here's my other wish: That a lot of B...
by LateStarter1975
Sat Jan 13, 2018 8:43 pm
Forum: Investing - Theory, News & General
Topic: video- How Dave Ramsey's Mutual Funds Have Performed Since 1973
Replies: 5
Views: 1514

Re: video- How Dave Ramsey's Mutual Funds Have Performed Since 1973

I listened to this Dave's rant and I found it very convenient that all his funds in his 401K according to him, beat the S&P index and other indexes over the last 10, 20, 30 and 40 years. I wonder where the catch is....
by LateStarter1975
Sat Jan 13, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Paid mortgage: Now what do I do?
Replies: 21
Views: 3008

Re: Paid mortgage: Now what do I do?

Great job. As someone who's also trying to pay off my 15-year mortgage 10 years early (3 more years to go), I'm very excited for you. Imagine what you can do with the extra money.....
by LateStarter1975
Mon Jan 08, 2018 1:54 pm
Forum: Forum Issues and Administration
Topic: Help me understand question-less financial status (e.g. "2 comma club") threads.
Replies: 175
Views: 13435

Re: Help me understand question-less financial status (e.g. "2 comma club") threads.

These threads have value. They give examples of BH methods working and may motivate others. You may want to change policy to allow them. I completely agree. Those threads motivate me a lot. In fact, sometimes, I just search for those "2-comma threads" just to motivate myself that one day I'll get t...
by LateStarter1975
Sat Dec 30, 2017 6:02 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle’s 5 bold investment predictions for 2018 and beyond.
Replies: 39
Views: 7850

Re: Jack Bogle’s 5 bold investment predictions for 2018 and beyond.

linenfort wrote:
Sat Dec 30, 2017 5:53 pm
Weren’t predictions already bleak at the end of last year? I can’t remember.
They were. A lot of pundits expected a correction or a bear market
by LateStarter1975
Tue Dec 12, 2017 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Year end review with less nerdy spouse
Replies: 72
Views: 9112

Re: Year end review with less nerdy spouse

I'm sure I'm not the only one who takes the personal finance lead in marriage. My DW is certainly not frivolous and generally we follow a budget (I like to call it our spending plan), but I'm the analyzer and spreadsheet jockey. We review our spending plan monthly, but at year end I like to bring i...
by LateStarter1975
Wed Nov 22, 2017 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Is a solo-401k worth it?
Replies: 13
Views: 2359

Re: Is a solo-401k worth it?

When you say "Is it worth it?" it's implied that there is a cost to having a solo 401(k). There really isn't any significant cost. You will have to do a very little research to figure out what you can really contribute, but it's not rocket science. It's absolutely worth it, even if you can only con...
by LateStarter1975
Mon Nov 20, 2017 3:28 pm
Forum: Investing - Theory, News & General
Topic: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio
Replies: 210
Views: 36332

Re: Taylor's New Book: The Bogleheads' Guide to The Three-Fund Portfolio

Bogleheads: Wiley has posted a brief description of our third Bogleheads' book. http://www.wiley.com/WileyCDA/WileyTitle/productCd-1119487331.html Best wishes. Taylor Thank you so much Taylor. I haven't read an investment book this year (I've read over 100 in the last 4 years) but this one will be ...
by LateStarter1975
Mon Nov 20, 2017 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 19848

Re: Dave Ramsey says don't use credit cards, even if you pay them off

Nobody cares (should care, in the real world) what Dave Ramsey thinks because he's not an expert on anything relevant. He is an expert on getting people out of debt using his baby steps. I would think that is VERY relevant. Sure, we all agree his investing ideas suck, but his get-out-of debt method...
by LateStarter1975
Wed Nov 08, 2017 11:08 am
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 244
Views: 32213

Re: How old are you and how much do you save for retirement a year

do the best you can. I had ZERO savings at 34. STAY FRUGAL AND NO TRADING OF FUNDS. You will be fine. More you can save now, better in long run. +1 My first dollar in retirement savings was contributed when I was 36 in 2011. And I didn't know anything about personal finances and was only saving a p...
by LateStarter1975
Wed Oct 18, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: 2 Commas, Seven Figure
Replies: 19
Views: 3674

Re: 2 Commas, Seven Figure

Congratulations! Awesome stuff
by LateStarter1975
Mon Oct 16, 2017 1:00 pm
Forum: Investing - Theory, News & General
Topic: Barclays Increase APY to 1.30%
Replies: 9
Views: 1074

Re: Barclays Increase APY to 1.30%

DaftInvestor wrote:
Mon Oct 16, 2017 12:52 pm
Two of their competitors beat them to it - gsbank and synchrony bank both went to 1.3% a week or so ago.
Ally has historically been a slight bit behind gsbank, synchrony and barclays.
Oh great!
by LateStarter1975
Mon Oct 16, 2017 12:49 pm
Forum: Investing - Theory, News & General
Topic: Barclays Increase APY to 1.30%
Replies: 9
Views: 1074

Barclays Increase APY to 1.30%

I just received an email from Barclays stating that they have just increased their savings account APY from 1.20% to 1.30%. This is impressive, considering that it was not long before they had increased from 1% to 1.10% and then to 1.20%. I'm sure their competitors like ALLY will follow suit shortly...
by LateStarter1975
Fri Sep 22, 2017 6:56 pm
Forum: Investing - Help with Personal Investments
Topic: Loans paid off!
Replies: 17
Views: 1411

Re: Loans paid off!

I'd never have been able to do this without an extremely frugal wife. I swear she can put a fingerprint on every copper penny she touches. It takes two . . . I'm going to show your post to my dear husband to bolster my case :D Good luck! Though, in my experience, there can be too much of a good thi...
by LateStarter1975
Tue Aug 01, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Should you wait until the due date to pay credit card balance?
Replies: 126
Views: 11424

Re: Should you wait until the due date to pay credit card balance?

Who pays it off as soon as it is processed? I always set my auto-payment for the full balance the day before it is due each month. Actually I do. I pay off my credit card balances as soon it processes. Sometimes, I end up paying my credit card balance several times a month. I've found that doing it...
by LateStarter1975
Tue Jul 25, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Pay yourself first.
Replies: 43
Views: 4883

Re: Pay yourself first.

OP, 1) I keep a checking account for my regular expense and 3 months of emergency fund 2) The other 9 months of emergency fund is in my Vanguard Mony Market account 3) Every pay check I auto-deduct my 401K and HSA contribution. The rest of the money goes into my checking account. 4) Every few month...
by LateStarter1975
Fri Jul 21, 2017 9:56 am
Forum: Investing - Theory, News & General
Topic: Advise to mass distribute (Dave?)
Replies: 8
Views: 686

Re: Advise to mass distribute (Dave Ramsey?)

We plan on going on the Dave show to do our debt free scream in the next couple of months. He always asks: What would you say is the key to getting out of debt? (We paid off our house at 30 years old.) My first thoughts are: 1. Get your spouse on the same page. 2. Read about how to handle windfalls...
by LateStarter1975
Tue Apr 25, 2017 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 166
Views: 26127

Re: Retirement with $8M in investments

OP posted this message more than 4 months ago. It was his first post. He never replied to the 4 pages of comment that followed. Anybody find that strange?
by LateStarter1975
Fri Apr 21, 2017 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: Hedging against divorce
Replies: 18
Views: 5095

Re: Hedging against divorce

Dottie57 wrote:I think the best hedge against divorce is to treat your partner with loving kindness.
+10
by LateStarter1975
Fri Apr 21, 2017 10:41 am
Forum: Investing - Theory, News & General
Topic: Single most important investing advice?
Replies: 97
Views: 14838

Re: Single most important investing advice?

"Don't save what's left after you spend; spend what's left after you save". Another way of saying this is "Pay yourself first"
by LateStarter1975
Thu Apr 20, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: I will pay off mortgage at 40. What next?
Replies: 22
Views: 5288

Re: I will pay off mortgage at 40. What next?

Save at least 75% of it into a taxable account and keep the rest for enjoyment, and other miscellaneous spending
by LateStarter1975
Thu Apr 20, 2017 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: When does it make sense to start paying down (or off) a low rate mortgage?
Replies: 53
Views: 6685

Re: When does it make sense to start paying down (or off) a low rate mortgage?

Pranav wrote:I maximize my contributions to tax-advantaged accounts and then throw the leftover income towards the mortgage.
+1
by LateStarter1975
Thu Apr 13, 2017 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: Met with FA last wk (Garrett Network)
Replies: 3
Views: 760

Re: Met with FA last wk (Garrett Network)

This is refreshing to read. I'll make a mental note to do this when our portfolio gets substantial and I need to get a second opinion.
by LateStarter1975
Tue Apr 11, 2017 11:32 am
Forum: Investing - Help with Personal Investments
Topic: Transferring account to Vanguard
Replies: 3
Views: 509

Re: Transferring account to Vanguard

Assuming this is a rollover IRA, it's quite simple and painless to move to Vanguard. Contact Vanguard directly and they will set up a new Rollover IRA account for you and help with the paperwork for the transfer. Anticipate 2-3 weeks start to finish. Have copies/scans of your current Ameriprise acc...
by LateStarter1975
Tue Apr 11, 2017 10:03 am
Forum: Personal Consumer Issues
Topic: Honda Pilot good 1st vehicle for teen?
Replies: 46
Views: 4146

Re: Honda Pilot good 1st vehicle for teen?

fh2000 wrote:I drive a 2006 Honda Pilot. It is not a small car. I would trade-in the Pilot to get DW a new car. Buy a smaller 2nd hand car for your 16 year old son.
+1
by LateStarter1975
Fri Apr 07, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: How many financial secrets?
Replies: 58
Views: 7082

Re: How many financial secrets?

It was tough getting my wife to be excited about finances. All our accounts are joint and we own everything together but to get her to be interested is another matter. But in the past year, I've started writing her an email every quarter detailing the Household financial summary. It's well detailed ...
by LateStarter1975
Fri Mar 31, 2017 8:51 am
Forum: Investing - Theory, News & General
Topic: What If Other Areas of Life Operated Like Wall Street?
Replies: 1
Views: 490

What If Other Areas of Life Operated Like Wall Street?

Ben Carlson published a very funny blog post on 3/30/17, but it does make you wonder....

http://awealthofcommonsense.com/2017/03 ... ll-street/
by LateStarter1975
Sun Mar 19, 2017 10:10 pm
Forum: Investing - Help with Personal Investments
Topic: Turbotax Backdoor Roth brain fart
Replies: 3
Views: 961

Re: Turbotax Backdoor Roth brain fart

Yes. Enter your 2016 Traditional IRA contribution into your 2016 tax return. If your contribution is non-deductible (covered by employer plan and high income), Turbotax will add form 8606 to track your IRA basis ($5500). This basis will carry forward to line 2 of the next years 8606 form and allow ...
by LateStarter1975
Wed Mar 15, 2017 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Where do you save for large purchases?
Replies: 42
Views: 4308

Re: Where do you save for large purchases?

Tyrobi wrote:I save mine in Ally Bank online saving with 1% APY.

Simple, safe and easy access.
+1
by LateStarter1975
Thu Mar 02, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Price of a used Honda Odyssey
Replies: 31
Views: 3015

Re: Price of a used Honda Odyssey

This is quite interesting. Just to be curious, I searched for used Honda Odysseys 2013-2014 in the same website you linked above and this is what I found https://www.cargurus.com/Cars/inventorylisting/viewDetailsFilterViewInventoryListing.action?sourceContext=carGurusHomePage_false_0&formSourceTag=1...
by LateStarter1975
Wed Mar 01, 2017 5:33 pm
Forum: Investing - Theory, News & General
Topic: Market up but VTSAX down???
Replies: 21
Views: 2841

Re: Market up but VTSAX down???

Taylor Larimore wrote:
vitaflo wrote:I almost always check my funds at 6:30pm Eastern ...
vitaflo:

Why do you check so often?

Thank you and best wishes.
Taylor
+1. I knew that comment will attract Taylor's attention, lol.
by LateStarter1975
Wed Mar 01, 2017 5:29 pm
Forum: Personal Consumer Issues
Topic: Family Hounding me to Purchase SUV or Minivan
Replies: 61
Views: 5865

Re: Family Hounding me to Purchase SUV or Minivan

Just hold your ground. A man with an experience is not at the mercy of a man with an opinion.
by LateStarter1975
Tue Feb 28, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: 2016 Tax Refund...Wife asked, "Is it legal?!?!"
Replies: 17
Views: 4170

Re: 2016 Tax Refund...Wife asked, "Is it legal?!?!"

Now when you withhold for the whole year, your refund will be even bigger for 2017! But you know, I'm sure, that the tax refund is really YOUR money since you over-withheld from your paychecks. So don't forget to update the amount with your employer(s). While celia is, of course, right, I will note...
by LateStarter1975
Tue Feb 28, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Seems Dave Ramsey is right about debt
Replies: 55
Views: 12609

Re: Seems Dave Ramsey is right about debt

This forum discusses math quite a bit. But it also discusses CC debt. How do you square those two contrasting ideas? I put in my 2cents for those who are not familiar with the difference between debt snowball and avalanche. Some people who read here may want to have ALL the facts (psychological and...
by LateStarter1975
Mon Feb 27, 2017 1:43 pm
Forum: Personal Consumer Issues
Topic: Do Boglehead DIY or Pay a Professional?
Replies: 95
Views: 9832

Re: Do Boglehead DIY or Pay a Professional?

I pay people. A couple of years ago I finally hired somebody to cut the grass. Best decision ever. Seemed like I was always struggling to fit it into my schedule and it's not that expensive. I have zero interest in plumbing and electrical work. And forget about car repairs. I'd rather play my guita...
by LateStarter1975
Wed Feb 22, 2017 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead Millionaire
Replies: 65
Views: 10029

Re: New Boglehead Millionaire

Congratulations. You started investing in 2012 and by 2017, you are already a millionaire. Quite impressive! Very motivational!
by LateStarter1975
Fri Jan 27, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Reached a milestone: $500K in Retirement Accounts
Replies: 44
Views: 7161

Re: Reached a milestone: $500K in Retirement Accounts

Fantastic stuff! Congratulations, you are an inspiration to us all!
by LateStarter1975
Wed Jan 25, 2017 11:26 am
Forum: Local Chapters and Bogleheads Community
Topic: HAPPY 93RD BIRTHDAY, TAYLOR!
Replies: 199
Views: 14268

Re: HAPPY 93RD BIRTHDAY, TAYLOR!

Thank you Taylor for all your help and nuggets of wisdom in this forum. I've certainly benefited a lot from it. Many more beautiful years ahead !