Search found 2227 matches

by jimb_fromATL
Fri Jul 20, 2018 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed 5/5 Arm Rate Reset?
Replies: 14
Views: 677

Re: Penfed 5/5 Arm Rate Reset?

I refinanced with Penfed less than 5 months ago at 2.75% and am due for a rate increase in March 2019 time frame to 4.75% I was given an offer to reset my rate to 3.8125% in September for $250 for 60 months. I would be paying about 7 months at a higher rate but saving more in the long run. I calcul...
by jimb_fromATL
Fri Jul 20, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed 5/5 Arm Rate Reset?
Replies: 14
Views: 677

Re: Penfed 5/5 Arm Rate Reset?

I refinanced with Penfed less than 5 months ago at 2.75% and am due for a rate increase in March 2019 time frame to 4.75% I was given an offer to reset my rate to 3.8125% in September for $250 for 60 months. I would be paying about 7 months at a higher rate but saving more in the long run. I calcul...
by jimb_fromATL
Fri Jul 20, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can I get a mortgage if retiring?
Replies: 14
Views: 1419

Re: Can I get a mortgage if retiring?

I am retiring this month, but I may try buy an underpriced rental home. I have the assets in the bank to buy it, but if I want to get a mortgage, can I? Of course, the credit union where I started the process wants my paycheck stubs. August is my last paycheck. Should I tell them I am retiring or j...
by jimb_fromATL
Sun Jul 15, 2018 7:12 pm
Forum: Investing - Theory, News & General
Topic: Math help: 401k vs debt payoff formula
Replies: 17
Views: 1441

Re: Math help: 401k vs debt payoff formula

Next, 7% is not realistic for your 401k. However, the 7% return on the 401(k) is the wrong comparison, because it is a risky return. Paying off debt is a risk-free return, and buying munis is a low-risk return. I think it's reasonable to compare after-tax investments to risk-free returns like munis...
by jimb_fromATL
Sun Jul 15, 2018 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2464

Re: Logging out 20 acre lot?

So since it's worth less than the mortgage balance, see if you can just hand the keys over to the mortgage holder and walk away. Might want to talk to a lawyer about that considering everything involved including the trust and property taxes, etc. Seems like the easiest and perhaps most financially...
by jimb_fromATL
Sat Jul 14, 2018 10:53 pm
Forum: Investing - Theory, News & General
Topic: Math help: 401k vs debt payoff formula
Replies: 17
Views: 1441

Re: Math help: 401k vs debt payoff formula

Are you trying to decide whether to use a current dollar to 1) payoff debt with post-tax dollars or 2) invest in your pre-tax 401(k) or 3) invest in munis with post-tax dollars? Yes. Thank you for putting it much easier. I know 401k comes ahead probably but I want to know - by how much. Time is an ...
by jimb_fromATL
Sat Jul 14, 2018 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Blowing off the dust - financial calculator
Replies: 6
Views: 918

Re: Blowing off the dust - financial calculator

I still have my K&E slide rule from the 60s and 70s, but IMO it is much like a hand-held financial calculator these days in that the only real reason to use it for nostalgia. ( I also have an old TI scientific calculator. After the advent of PCs and spreadsheets it made a pretty good paper weight fo...
by jimb_fromATL
Fri Jul 13, 2018 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2464

Re: Logging out 20 acre lot?

Property was in a trust when parents passed, so I assume we’ve inherited it even though they haven’t paid it off before dying. I may have been editing my post when you made yours. I added that normally when an estate's assets won't cover the deceased's debts, the lender may not get paid in full in ...
by jimb_fromATL
Fri Jul 13, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2464

Re: Logging out 20 acre lot?

Recently inherited property in northern Florida, very rural area on Georgia border. It’s on 20 acres, most of which doesn’t appear to be built upon do to grading issues. It has a small home, and a loan which exceeds what we could reasonably sell the property for based upon today’s market. Most of t...
by jimb_fromATL
Wed Jul 11, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Credit score after becoming debt free?
Replies: 44
Views: 2907

Re: Credit score after becoming debt free?

I never knew my credit score until a few years or so ago when Discover card started showing it for free. We haven't had a mortgage for more than 20 years, and the last time we had any other loan was 1980. Our FICO score hovers around 815. Not sure why it goes up and down a few points, since we don't...
by jimb_fromATL
Mon Jul 09, 2018 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Investing in real estate with Roth IRA
Replies: 8
Views: 791

Re: Investing in real estate with Roth IRA

Real estate has many tax advantages and real estate in iras has many complicated rules. No personal experience but Clark Howard thinks it is a bad idea. Thinking that any real estate market is immune to a downturn seems overly optimistic. https://clark.com/homes-real-estate/dangers-owning-real-esta...
by jimb_fromATL
Sat Jul 07, 2018 10:20 am
Forum: Personal Consumer Issues
Topic: Which advanced tech is necessary in cars?
Replies: 86
Views: 4323

Re: Which advanced tech is necessary in cars?

Also, anyone have experience with CarPlay? Is it worth it or better off just mounting your phone to the dash? Some kind of integration of your cellphone into the car audio system would be nice to have in Georgia now that we have a new and extremely restrictive "hands free" law for using cellphones ...
by jimb_fromATL
Sun Jul 01, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Smart to transition to rental property?
Replies: 10
Views: 1267

Re: Smart to transition to rental property?

Hi all - first time asking a question here and looking forward to the collective braintrust response! I'm about to move back to the US after a few years living overseas. During that time I've been renting out the condo I own in the US; now that it's time to move back I'm facing a decision on where ...
by jimb_fromATL
Sat Jun 30, 2018 11:12 am
Forum: Investing - Theory, News & General
Topic: Is there a way to avoid bad companies in S&P 500?
Replies: 92
Views: 4582

Re: Why would creating an intelligent S&P 475 be so difficult to do?

I get it. The brightest stock analysts cannot beat the market with their actively managed funds… But why can’t those same bright ones at least identify 25 dogs out of 500 large companies? Or 20? Or even 10? What exactly makes something like that so very difficult to accomplish? You cannot know how ...
by jimb_fromATL
Fri Jun 29, 2018 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage deductibility on HELOC
Replies: 9
Views: 521

Re: Mortgage deductibility on HELOC

I have two completely different questions. 1. If I take out a HELOC and use the proceeds as a down payment on an investment property, can I deduct the interest against the income against said investment property? You should always be able to deduct business interest provided you have enough income ...
by jimb_fromATL
Thu Jun 28, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Done Correctly?
Replies: 17
Views: 1465

Re: Social Security Calculation Done Correctly?

... just so it's clear, because how I read from SSA.gov is different than what's said here. The salary cap per year is ~$120K, indexed, for 35 years. So if on average I earned $240K (making this up for illustrative reasons) and for 17.5 years (the rest I didn't work) that would be equivalent to ~$1...
by jimb_fromATL
Tue Jun 26, 2018 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand the tax consequences of selling a home
Replies: 6
Views: 923

Re: Help me understand the tax consequences of selling a home

The (potentially taxable) capital gain is the difference between your cost basis and the amount you cleared after the cost of the sale. Your cost basis is what you paid for it plus any capital improvements recognized by the IRS to add value to the home. The amount realized from the sale is its sale ...
by jimb_fromATL
Sun Jun 24, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Done Correctly?
Replies: 17
Views: 1465

Re: Social Security Calculation Done Correctly?

HERE is a detailed explanation about how SSA calculates benefits. ... I had several years of the max for SS tax before I retired early, then several years of no SS taxable income at all. So the estimates sent out by the SSA from year to year were not accurate at all... jimb There's a max tax? I tho...
by jimb_fromATL
Sun Jun 24, 2018 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Done Correctly?
Replies: 17
Views: 1465

Re: Social Security Calculation Done Correctly?

Phineas J. Whoopee wrote:
Sun Jun 24, 2018 4:41 pm
If I may, during working years the historical dollar amounts are adjusted by the wage index, not the inflation index.
PJW
You may.

jimb
by jimb_fromATL
Sun Jun 24, 2018 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Done Correctly?
Replies: 17
Views: 1465

Re: Social Security Calculation Done Correctly?

Does your spreadsheet adjust for inflation on the earlier years? So I'm starting to look at this... and haven't at all taken earlier years into account for inflation. I built the spreadsheet from theirs, which does the adjustment for inflation for each year. You have to remake the table in the spre...
by jimb_fromATL
Sun Jun 24, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculation Done Correctly?
Replies: 17
Views: 1465

Re: Social Security Calculation Done Correctly?

HERE is a detailed explanation about how SSA calculates benefits. A biggy is that earlier years are adjusted to today's dollars for the calculation. This is very important for folks who had fairly high income in their earlier years but may have dropped out of the rat race early (like I did) and had...
by jimb_fromATL
Sun Jun 24, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC vs 401k Loan - Looking for Options
Replies: 7
Views: 629

Re: HELOC vs 401k Loan - Looking for Options

delamer wrote:
Sun Jun 24, 2018 12:50 pm
The maximum loan that you can take from a 401(k) is $50,000. Would that meet your needs?
Doh! I mentioned that the limit might be less than 50%, but forgot about that $50K limit. :oops: Got some editing to do.

jimb
by jimb_fromATL
Sun Jun 24, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: HELOC vs 401k Loan - Looking for Options
Replies: 7
Views: 629

Re: HELOC vs 401k Loan - Looking for Options

Some things to think about: I've also heard that you cannot get a HELOC on a home that is on the market. For the best rates and terms, some lenders may even require an affidavit that it will be your primary residence for a year. There might be some lenders who don't resell the loans -- perhaps a loc...
by jimb_fromATL
Sat Jun 23, 2018 9:12 pm
Forum: Investing - Help with Personal Investments
Topic: VBIAX vs. VWELX [Vanguard Balanced Index vs. Wellington]
Replies: 21
Views: 2451

Re: VBIAX vs. VWELX [Vanguard Balanced Index vs. Wellington]

Where am I going wrong. Two ways you are going wrong: 1. Past performance is not indicative of future results. Lacking a working crystal ball, what else can we go by? Past performance is all we have. Virtually everything we know about how stocks and bonds (and mutual funds) work; all the technical ...
by jimb_fromATL
Sat Jun 23, 2018 5:49 pm
Forum: Investing - Help with Personal Investments
Topic: VBIAX vs. VWELX [Vanguard Balanced Index vs. Wellington]
Replies: 21
Views: 2451

Re: VBIAX vs. VWELX [Vanguard Balanced Index vs. Wellington]

The data reveals that for the 2000 thru 2017 period, Wellington's average annual performance of 8.46% exceeded the Balanced Index fund's average performance of 6.35% by 2.11%, and that Wellington out performed the Balanced Index for 13 of the 18 years - 72% of the time. It remains to be seen whethe...
by jimb_fromATL
Sat Jun 23, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Escrowing mortgage and real estate taxes
Replies: 11
Views: 611

Re: Escrowing mortgage and real estate taxes

I always had to check and/or fix the bank's escrow payments anyway so I started doing it myself and making a bit of money from it. We had an unusual situation after we paid off our mortgage -- a few decades ago. The next year we did pay our taxes and insurance ourselves, but a few months later we r...
by jimb_fromATL
Sat Jun 23, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Escrowing mortgage and real estate taxes
Replies: 11
Views: 611

Re: Escrowing mortgage and real estate taxes

Is it recommended to escrow mortgage and real estate taxes? I have heard there are separate fees for that as well? Is it best to just pay twice a year property taxes? As others have said, it depends on your lender. Here are some more thoughts gathered from old posts on the topic: There's more risk ...
by jimb_fromATL
Fri Jun 22, 2018 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: House and HELOC refi advice
Replies: 6
Views: 820

Re: House and HELOC refi advice

Your first mortgage rate is not bad, and there's not much of a change in rate on the majority of the balance(s) so It's borderline on whether you'll save enough interest to make it worth the up-front costs. I'll post some numbers later in this thread, but first let's talk about some other stuff. IMO...
by jimb_fromATL
Fri Jun 22, 2018 10:59 am
Forum: Investing - Help with Personal Investments
Topic: Income Annuities
Replies: 20
Views: 1156

Re: Income Annuities

For fun, I went to Fidelity and used their calculator. Using exactly the same criteria, I went to immediateannuities.com and did it again. They were only $1 different per month. I would therefor guess that Fidelity is offering an SPIA and calling it an "income annuity". Vanguard and presumably Fide...
by jimb_fromATL
Mon Jun 18, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: mortgage or 401k withdrawal
Replies: 4
Views: 505

Re: mortgage or 401k withdrawal

... Withdrawal would be about 120,000 of a $1,000,000 401k account and another 120,000 in a mortgage... I'm not clear on how much more money you need. Are you talking about withdrawing $120K from retirement funds PLUS borrowing $120K in a mortgage? Are the pensions your only significant income for ...
by jimb_fromATL
Sat Jun 16, 2018 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Rule of 55 is it official?
Replies: 50
Views: 9598

A few more thoughts

My wife is 45 and I am 39. We both have good career jobs with stable companies, both with 401k plans. My specific question is: How "true" is this "rule of 55" in regards to company sponsored 401k's? Specifically, our situation is like this: My 401k + RothIRA is ~$600k. Her 401K + RothIRA is ~$90k. ...
by jimb_fromATL
Thu Jun 14, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Renting vs Buying a Home
Replies: 24
Views: 1709

Re: Renting vs Buying a Home

I know this is a very complicated question that has a ton of facets...but I want to try and broach the topic of whether I should look into buying a home vs. continuing to rent (because of the 'why not pay towards equity rather than paying someone else's mortgage' thought). *** paying about 1200/mon...
by jimb_fromATL
Thu Jun 14, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Renting vs Buying a Home
Replies: 24
Views: 1709

Re: Renting vs Buying a Home

Sorry, but you really cannot afford a house in that price range ... and you won't be able to get a mortgage for it. A common guideline for debt to income ratio is 28% of your gross income for the home PITI (Principal, Interest, Taxes and Insurance) plus perhaps some allowance for maintenance, with n...
by jimb_fromATL
Wed Jun 13, 2018 11:43 am
Forum: Personal Consumer Issues
Topic: What To Do About 2001 Honda Odyssey With No AIr
Replies: 16
Views: 1404

Re: What To Do About 2001 Honda Odyssey With No AIr

A complete AC replacement kit for a 2001 Odyssey is about $300. I wouldn't lose any sleep about what happens if they can't find the leak. As pointed out the total fix isn't that expensive. Patching doesn't seem to be the way to go. Have replaced AC on two Honda's at about 13 and 11 years of age as ...
by jimb_fromATL
Mon Jun 11, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage in 7 years using HELOC?
Replies: 29
Views: 9054

Re: It's not quite that easy to get something for nothing.

The only scenario I can think of that this provides any benefit is something like this: Assume $200,000 loan at 5% and no fees for the Heloc Have the intention to pay extra towards your mortgage - in this example, let's say an extra $1000/mo Get a Heloc with an intro rate of say 2% for first 12 mon...
by jimb_fromATL
Sun Jun 10, 2018 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard STAR, Vanguard 2030 TDF, pay extra toward the house, or other?
Replies: 22
Views: 1441

Re: Vanguard STAR, Vanguard 2030 TDF, pay extra toward the house, or other?

I'm maxing out my 457 ... ... I also am maxing out my Vanguard Roth IRA ... What is the “stupid mistake” you are referencing re your mortgage? I am not following. I was referring to having a 30 year mortgage over a 15 year mortgage. I should have done the 15 year mortgage because by the time I reti...
by jimb_fromATL
Sun Jun 10, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: ignorant question about fixed rate home equity loans
Replies: 18
Views: 1265

Re: ignorant question about fixed rate home equity loans

It is a fixed rate lump sum home equity loan. If I get it, $30,000 magically appears in my account at the credit union, to which I already belong, and then I can pay the contractor as needed. The contract is for somewhat more than that amount and I have already shelled out for the engineering plans...
by jimb_fromATL
Sat Jun 09, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: ignorant question about fixed rate home equity loans
Replies: 18
Views: 1265

Re: ignorant question about fixed rate home equity loans

depends on how much/often you plan to dip into the line, and for how much. $10k * .74 = $740 interest per year. x 5 years? You missed a couple of decimal points. Plus, over the life of an amortized loan you'll owe an average of about half of the original balance. For just for the difference in rate...
by jimb_fromATL
Sat Jun 09, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: ignorant question about fixed rate home equity loans
Replies: 18
Views: 1265

Re: ignorant question about fixed rate home equity loans

I have a humongous house expense coming up, beyond my emergency fund. I crunched some numbers, and it appears better to get a fixed rate home equity loan than break into my IRAs. The loan interest rate is not enormous, and going into the IRAs not only results in taxes for that, but ups my tax rate....
by jimb_fromATL
Fri Dec 15, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs 401K
Replies: 11
Views: 997

Re: Student Loans vs 401K

We own our home. By "own" do you mean it's paid off, or that you own it but also have it pledged as collateral for a mortgage? We are in the 39% marginal tax bracket, so I would be taxed quite significantly. But in lieu of 55k in the 401k I figure I could put at least 20k into the EF. Do you also h...
by jimb_fromATL
Fri Dec 15, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Student Loans vs 401K
Replies: 11
Views: 997

Re: Student Loans vs 401K

Pay yourself first by maxing the 401(k) for sure. You seldom get ahead in the long run by paying more taxes in your highest bracket for federal (and state in most cases) earlier than necessary in order to feel good about paying off manageable debts a little faster. Build your emergency fund with ext...
by jimb_fromATL
Tue Dec 05, 2017 6:57 pm
Forum: Investing - Help with Personal Investments
Topic: Want to sell my Bitcoin, but when?
Replies: 90
Views: 9574

Re: Want to sell my Bitcoin, but when?

I'd sell ASAP. But then I'd never own it the first place. It has had some incredible gains, but so do lottery tickets. IMO it's more like gambling on getting into a pyramid scheme and getting back out before it collapses. You'd probably need a crystal ball to make even a wild guess about how it migh...
by jimb_fromATL
Sun Dec 03, 2017 10:30 am
Forum: Investing - Help with Personal Investments
Topic: How much should I contribute to 410(k) vs IRA?
Replies: 22
Views: 1343

Re: How much should I contribute to 410(k) vs IRA?

You did not say if your traditional IRA contribution is tax-deductible or not. If it is not tax deductible, then you should contribute the maximum to your 401(k) before contributing anything to your tIRA. If your tiRA is NOT tax deductible, then you should contribute the maximum to your 401(k) befo...
by jimb_fromATL
Sun Dec 03, 2017 10:11 am
Forum: Investing - Help with Personal Investments
Topic: How much should I contribute to 410(k) vs IRA?
Replies: 22
Views: 1343

Re: How much should I contribute to 410(k) vs IRA?

In your circumstances, a good rule of thumb is to invest up to the match in your 401(k) first. There's no advantage in turning down the equivalent of a raise in pay. Once you're getting the maximum available employer match, then invest up to the max each year in a Roth IRA. Then if you have any mone...
by jimb_fromATL
Sat Nov 25, 2017 8:13 pm
Forum: Personal Consumer Issues
Topic: Toyota older, "good" cars - my observations
Replies: 52
Views: 6058

Re: Toyota older, "good" cars - my observations

I have owned Camrys since 1992 (my current one is 2014 Hybrid) and love them for performance and reliability. They are economical to own. My wife has a 2007 Avalon Limited with all the bells and whistles. She loves it but to me it is just too big. I feel like I am driving a boat. The Avalon is pret...
by jimb_fromATL
Thu Oct 19, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: New Guy Looking for Advice [Take ownership of grandparent's rental property?]
Replies: 40
Views: 2412

Re: Gifted Realestate Question

Do you only have a quitclaim deed and not a full covenant and warranty deed? Also, does your grandfather plan to file a gift tax return for the $50,000 difference as a bargain sale? Is your note secured by a mortgage so you get an interest deduction? Also, how can you obtain a mortgage when it appe...
by jimb_fromATL
Mon Sep 11, 2017 4:19 pm
Forum: Investing - Theory, News & General
Topic: China to ban petrol cars
Replies: 64
Views: 5961

Re: China to ban petrol cars

"...China wants electric battery cars and plug-in hybrids to account for at least one-fifth of its vehicle sales by 2025. The proposals would require 8% of automakers' sales to be battery electric or plug-in hybrids by next year, rising to 12% in 2020..." Like the "all Volvos will be electric" head...
by jimb_fromATL
Thu Aug 31, 2017 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Would you DCA from S&P 500 to TSM?
Replies: 13
Views: 1458

Re: Would you DCA from S&P 500 to TSM?

Just do it in a lump sum. Lump sum versus DCA over a year has done far better in both funds. There's no way you can guess which might be best, and the difference between gains and losses in the two funds is so trivial it's not worth worrying about. The day of the week when you decide to make the mov...
by jimb_fromATL
Sat Aug 26, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: 5yrs until retiring. 30k lump sum to invest
Replies: 25
Views: 3216

A little more information would go a long way here

My mother is 65 going on 66 and currently does not have much in regards to retirement funds saved. She has a 401k through her job that offers to match and she is currently maxing that account out. However, we both realize this will not be enough (it is currently at about $2000). Is that really $2,0...
by jimb_fromATL
Thu Aug 24, 2017 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Employer reimbursement for plugin hybrid charge cost?
Replies: 14
Views: 1698

Re: Employer reimbursement for plugin hybrid charge cost?

I could see it being somewhat more beneficial to the employee in the situation that the OP described, a highly congested urban area. A trip may only be 5 miles of distance(Less than $3 reimbursement by mileage), but it might burn several gallons of gas to get there due to time spent idling in traff...