Search found 1669 matches

by Jags4186
Mon Feb 19, 2018 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: Late 20's female looking for some advice towards financial independence
Replies: 31
Views: 3453

Re: Late 20's female looking for some advice towards financial independence

OP,

I've never lived alone. When I graduated from college I moved in with my best friend from high school and we lived together for 6 years. After that I moved in with my girlfriend, now wife.

Highly recommend you get a roommate. I would be bored by myself!
by Jags4186
Mon Feb 19, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: GEICO Auto Shady Practice?
Replies: 31
Views: 2094

Re: GEICO Auto Shady Practice?

Correct. They raised my rates 1000% after filing a UM claim. Astounding. You went from $1200/yr to $12000/yr after just one non-injury car body damage claim? No other claims or multiple DUIs, bankruptcies, arrests, etc.? That sounds like some sort of error on their part. What did they say when you ...
by Jags4186
Mon Feb 19, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: GEICO Auto Shady Practice?
Replies: 31
Views: 2094

Re: GEICO Auto Shady Practice?

what does mechanical breakdown cover anyway? towing to GEICO-approved repair shop? MBI doesn't cover towing, you would need a separate roadside assistance program. I have used MBI before on a very problem prone VW. You can have repairs done anywhere (I had them done at the dealership). You pay $250...
by Jags4186
Mon Feb 19, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: First offer on a house...gut check
Replies: 12
Views: 1205

Re: First offer on a house...gut check

Hello all, We just put in an offer on our first home and I wanted to post here just to get a gut check and make sure we're not biting off more than we can chew: Ages: 31/32 Offer: $585,000 Downpayment: $175,000ti 30 year mortgage: $410,000 at 4.25% Property Taxes: $11,300 Income 1: $118k base + $30...
by Jags4186
Mon Feb 19, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: First offer on a house...gut check
Replies: 12
Views: 1205

Re: First offer on a house...gut check

If you are in a HCOL area and it looks like you are, then pull the trigger. If you are in a LCOL, then you may be the big man in town, and would hesitate. Its difficult to recover your costs on an expensive home in LCOL. I live in an area of SC where 500K homes sit on market for over 12 months and ...
by Jags4186
Mon Feb 19, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: First offer on a house...gut check
Replies: 12
Views: 1205

First offer on a house...gut check

Hello all, We just put in an offer on our first home and I wanted to post here just to get a gut check and make sure we're not biting off more than we can chew: Ages: 31/32 Offer: $585,000 Downpayment: $175,000 30 year mortgage: $410,000 at 4.25% Property Taxes: $11,300 Income 1: $118k base + $30k o...
by Jags4186
Sun Feb 18, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Auto Shady Practice?
Replies: 31
Views: 2094

Re: GEICO Auto Shady Practice?

Everybody has a bad experience at some point with a company. All I can say is that GEICO is by far the cheapest option I have found--no one comes close. Every time I've had an issue, they have gone to bat for me, paid claims without putting up a fight, have fought and recovered money from other par...
by Jags4186
Sun Feb 18, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Auto Shady Practice?
Replies: 31
Views: 2094

Re: GEICO Auto Shady Practice?

Everybody has a bad experience at some point with a company. All I can say is that GEICO is by far the cheapest option I have found--no one comes close. Every time I've had an issue, they have gone to bat for me, paid claims without putting up a fight, have fought and recovered money from other par...
by Jags4186
Sun Feb 18, 2018 11:31 am
Forum: Personal Finance (Not Investing)
Topic: GEICO Auto Shady Practice?
Replies: 31
Views: 2094

Re: GEICO Auto Shady Practice?

Everybody has a bad experience at some point with a company. All I can say is that GEICO is by far the cheapest option I have found--no one comes close. Every time I've had an issue, they have gone to bat for me, paid claims without putting up a fight, have fought and recovered money from other part...
by Jags4186
Sun Feb 18, 2018 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Sell me on the benefits of an emergency fund
Replies: 118
Views: 6138

Re: Sell me on the benefits of an emergency fund

Not everyone has years worth of expenses in a taxable account. IMO count your emergency fund as part of your bond allocation. You don't need it to be 100% liquid, throw it in laddered CDs. Biggest emergency most people face is sudden loss of employment. That doesn't involve an immediate large expens...
by Jags4186
Sat Feb 17, 2018 8:30 am
Forum: Investing - Theory, News & General
Topic: What is the evidence against slice and dice?
Replies: 59
Views: 4351

Re: What is the evidence against slice and dice?

Picking a sound strategy and sticking with it is a better strategy than bouncing back and forth between slice and dice and the total stock market. For the past 9 years, we've been in a honeymoon phase for the SP500. It has returned 15%+ CAGR for 9 years. It's hard to have a slice and dice portfolio ...
by Jags4186
Fri Feb 16, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 138
Views: 8319

Re: I'm Cancelling My Home Insurance

“I’m cancelling my homeowners insurance!”

“No you’re not.”

“You got me!”
by Jags4186
Fri Feb 16, 2018 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: Does the absence of need for a legacy affect your AA or SWR?
Replies: 24
Views: 1668

Re: Does the absence of need for a legacy affect your AA or SWR?

For better or worse it's very difficult to "spend it all" without running out. Those who follow the "4% rule" are more or less guaranteed to not run out of money over a 30 year retirement, but depending on sequence of returns could finish with practically no money or many multiples of where you star...
by Jags4186
Thu Feb 15, 2018 10:39 pm
Forum: Personal Consumer Issues
Topic: Should I be paying $1300/yr. for under/uninsured motorist protection?
Replies: 74
Views: 4011

Re: Should I be paying $1300/yr. for under/uninsured motorist protection?

Yes carry it because it’s cheap. I pay $42 per 6 months for $100k/$300k underinsured injury and $100k in underinsured property damage coverage in NJ which has the highest car insurance rates in the country.

Look for a new insurance agent.
by Jags4186
Thu Feb 15, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2406
Views: 451885

Re: What's Your Credit Card Rewards Strategy?

In terms of sign up bonuses, I feel like I've kind of hit a wall. I have arbitrarily set a minimum of $500 signup bonus minimum, and have avoided anything over $100 annual fee. This year I did Capital One Venture - $500 Merril Card - $500 BOA Premium - $500 Amegy Business - $1000 I tried one of the...
by Jags4186
Thu Feb 15, 2018 7:14 am
Forum: Personal Consumer Issues
Topic: Question for music experts about musical keys
Replies: 84
Views: 4458

Re: Question for music experts about musical keys

I haven't seen this answer yet, so forgive me if I'm covering old ground. Piano players are more comfortable playing in flat keys than sharp keys, so you get a lot of jazz and classical in F, Bb, Eb, Ab, and all of their relative minors. These just tend to be easier hand positions than the sharp ke...
by Jags4186
Wed Feb 14, 2018 1:14 pm
Forum: Personal Consumer Issues
Topic: Question for music experts about musical keys
Replies: 84
Views: 4458

Re: Question for music experts about musical keys

Well, it's pretty well known that D minor is the saddest of all keys. https://vimeo.com/92699399 I agree that the keys some kinds of music are in is based on what is easiest to play on the instruments used. You will find a lot of traditional music on the guitar in the keys of E, A, and D because th...
by Jags4186
Wed Feb 14, 2018 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Net worth progression: what am i doing wrong?
Replies: 25
Views: 3739

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

It’s a slow slog until you get to about $250k. Once you hit $250k then a “good” year of returns can easily trump what you can add in your tax advantaged accounts. A “bad” year can also have you going nowhere while maxing out your tax advantaged accounts...
by Jags4186
Wed Feb 14, 2018 5:48 am
Forum: Personal Consumer Issues
Topic: Question for music experts about musical keys
Replies: 84
Views: 4458

Re: Question for music experts about musical keys

Everything a musical lay person needs to know about keys can be explained in this incredible 6 minute lesson by Dr. Leonard Bernstein. I highly recommend everyone watch this: https://youtube.com/watch?v=Gt2zubHcER4 Now for those wondering how the mood of a song can be changed by switching from major...
by Jags4186
Tue Feb 13, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on new home purchase
Replies: 15
Views: 1193

Re: Need advice on new home purchase

OP, Depends what’s most important to you. If it’s absolute lowest cost without regard for cashflow, I would look for a conventional 10 year mortgage with no origination fees. If it’s lowest payments possible, consider a 5/1 ARM. Or, borrow money from your kids for free :mrgreen: You will still need ...
by Jags4186
Tue Feb 13, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 6399

Re: Should I claim chapter 7 bankruptcy? debt 110k

I want to give the OP kudos for at least claiming responsibility for the action that led to huge loss. unclear how losing $110,000, not paying it back and filing bankruptcy is 'claiming responsibility', more like avoiding responsibility? Avoiding responsibility is sticking your head in the sand. Cl...
by Jags4186
Tue Feb 13, 2018 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 6399

Re: Should I claim chapter 7 bankruptcy? debt 110k

I’m shocked that some posters are recommending the OP work out a payment plan. This is what bankruptcy is for—wiping the slate clean. I see no difference in this than people who were foreclosed on and banks held the bag. Really no different. The brokerage houses are big boys. TD Ameritrade was happy...
by Jags4186
Tue Feb 13, 2018 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 6399

Re: Should I claim chapter 7 bankruptcy? debt 110k

Yes claim bankruptcy and consider seeing a therapist.
by Jags4186
Tue Feb 13, 2018 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: Savings Rate - Early Retirement
Replies: 13
Views: 1025

Re: Savings Rate - Early Retirement

Instead of focusing on retiring in 20 years focus on your career and maintaining a high savings rate.

Too many unknowns 20 years from now but if you save 50% you’ll certainly be in a good position.
by Jags4186
Mon Feb 12, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on new home purchase
Replies: 15
Views: 1193

Re: Need advice on new home purchase

Can you not qualify for a conventional mortgage?
by Jags4186
Mon Feb 12, 2018 10:59 am
Forum: Investing - Help with Personal Investments
Topic: Emergency fund question - 3 vs 6 months and should I lower my 401k contribution to get there...
Replies: 74
Views: 3042

Re: Emergency fund question - 3 vs 6 months and should I lower my 401k contribution to get there...

My big question is should I lower my 401k contribution from 14% down to my employer match for a few months get get a good chunk of the 3 months saved up? MikesChevelle, That does not work. You have to pay tax on every dollar that you do not contribute to the 401K. Depending on your Federal marginal...
by Jags4186
Mon Feb 12, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Where to put money for car/house expenses
Replies: 10
Views: 509

Re: Where to put money for car/house expenses

I guess it depends on how much money you're talking about. Most planned home repairs/car replacements should be saved up for in less than a year so I would just let it accumulate in a savings account. It helps if you don't have expensive taste. For example a replacement car for me might cost $20,000...
by Jags4186
Mon Feb 12, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Statement & Receipt Clearing - Help!
Replies: 42
Views: 2214

Re: Credit Card Statement & Receipt Clearing - Help!

We pay off our cards every week so we don't bother with any of this. We have less than 10 charges a week so it's not hard to remember what we spent (especially since we use mint.com to track everything in more or less real time). I guess if we get taken for an extra $1 tip it's worth it not to have ...
by Jags4186
Sun Feb 11, 2018 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Good companion card to Quicksilver?
Replies: 14
Views: 514

Re: Good companion card to Quicksilver?

Regarding the Citi Double Cash card, I do recall looking at it a while back and the main reason I didn't find it appealing is that even though the 0.5% difference can be significant in the very long term, it basically obviates the Quicksilver, relegating it to a backup in case the Citi card is lost...
by Jags4186
Sun Feb 11, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Family expecting “comps”
Replies: 38
Views: 4702

Re: Family expecting “comps”

Pretty simple. Stop giving discounts to family members.
by Jags4186
Sat Feb 10, 2018 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Tenants want to break lease early and is pregnant
Replies: 105
Views: 8605

Re: Tenants want to break lease early and is pregnant

Let them go, give back deposits assuming it's in good shape, and raise the rent. Win/win. Trying to claw two months rent out of them isn't worth the headaches. I do a month to month lease and give my renters very competitive rent. Gives them flexibility but also encourages them to be good renters b...
by Jags4186
Fri Feb 09, 2018 11:53 am
Forum: Investing - Theory, News & General
Topic: Should you sell your investments when they start dropping? When should you invest during this market correction?
Replies: 52
Views: 4104

Re: Should you sell your investments when they start dropping? When should you invest during this market correction?

It's a funny thing about market timing, when it works you feel like a genius, when it doesn't you feel like a jerk. I sold $150,000 worth of equities in December at around 2660 levels. This was for anticipation of a home purchase. I sure felt like a jerk when it skyrocketed to 2880. And today I fee ...
by Jags4186
Fri Feb 09, 2018 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Can the real estate market crash if there's no inventory?
Replies: 15
Views: 1258

Re: Can the real estate market crash if there's no inventory?

Rate increases and home prices are positively, not negatively, correlated. Rates go up, home prices go up. Rates go up because the economy is doing well, wages increase, people are willing to borrow more money. Rates decrease when the economy is doing poorly and unemployment is rising.
by Jags4186
Thu Feb 08, 2018 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Financial Hole
Replies: 163
Views: 13305

Re: Financial Hole

Wife SSDI income-$1200 monthly. Together is $3960/mo. Where do you get those figures? We net $2800 a month total. You said you have 2 children. Your gross income including SSDI is $52,080 based on the numbers you give. You pay no income taxes and should be getting a refundable child tax credit and,...
by Jags4186
Thu Feb 08, 2018 5:17 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone use Goldmoney?
Replies: 19
Views: 870

Re: Does anyone use Goldmoney?

Personally I'd avoid anything Peter Schiff is endorsing.
by Jags4186
Wed Feb 07, 2018 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Hole
Replies: 163
Views: 13305

Re: Financial Hole

Joe,

You shoot down every suggestion everyone makes.

Here’s my suggestion. Make more money and spend less. Don’t want to? Keep getting payday loans. You’re wasting everyone’s time.
by Jags4186
Wed Feb 07, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Hole
Replies: 163
Views: 13305

Re: Financial Hole

OP I agree with everyone above about your lack of details. That said, stop borrowing more money. Take out no more payday loans. Stop charging to your credit card. Since your credit score is already awful I see no reason for you to continue paying your unsecured debts at this time. That means stop p...
by Jags4186
Wed Feb 07, 2018 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Dad gave me money before filing bankruptcy
Replies: 24
Views: 4299

Re: DAD GAVE ME MONEY BEFORE FILING BANKRUPTCY

rutrow2015 wrote:
Wed Feb 07, 2018 6:17 pm
Did you have to pay tax on a portion of the $40k that your dad gave you? He may have received the money tax free but does it continue to be tax free if he then gifts it to a second party? I know this doesn't address your question but I am curious.
The giver, not the receiver, pays gift tax.
by Jags4186
Wed Feb 07, 2018 5:07 pm
Forum: Personal Consumer Issues
Topic: How to stop mail for former occupants?
Replies: 103
Views: 5778

Re: How to stop mail for former occupants?

I’ve been at my address for 5 years and get mail for 3 different prior tenants. I used to write does not live here and leave for mailman. Now it goes straight into the trash.
by Jags4186
Wed Feb 07, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Hole
Replies: 163
Views: 13305

Re: Financial Hole

OP I agree with everyone above about your lack of details. That said, stop borrowing more money. Take out no more payday loans. Stop charging to your credit card. Since your credit score is already awful I see no reason for you to continue paying your unsecured debts at this time. That means stop pa...
by Jags4186
Wed Feb 07, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: No Emergency Funds yet Major Car Emergency
Replies: 47
Views: 3000

Re: No Emergency Funds yet Major Car Emergency

Is the car fixed worth more than $3500 + scrap? If so, pay the local mechanic to replace the engine. If not scrap the car.

You should consider Hyundai for your next car. 10 year/100k drivetrain warranty.
by Jags4186
Wed Feb 07, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 11871

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by Jags4186
Tue Feb 06, 2018 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 11871

Re: Am I saving too much for retirment?

I suggest you save as much as humanly possible while you can. Many things can come down the pike which will cause your savings to decline. Children, education, home purchases, pay stagnation, job loss, medical issues, etc. etc.
by Jags4186
Tue Feb 06, 2018 6:10 pm
Forum: Personal Consumer Issues
Topic: Life Balance of spending and saving
Replies: 54
Views: 4533

Re: Life Balance of spending and saving

Not sure what your income is but assuming you’re in the new 37% bracket you’re making $600k plus. I wouldn’t hesitate if it’s something you want.
by Jags4186
Mon Feb 05, 2018 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Rule of thumb for how much to spend on rent?
Replies: 19
Views: 991

Re: Rule of thumb for how much to spend on rent?

Spend as little as possible on rent to be tolerable. You need to pay for rent and save to potentially buy something, or at minimum build up taxable savings. Comparing renting and buying is not apples to apples. You rent what meets your needs right now. If your needs change you can easily change your...
by Jags4186
Mon Feb 05, 2018 8:17 pm
Forum: Investing - Help with Personal Investments
Topic: Where would you tell a 12 year old to park his money
Replies: 32
Views: 1831

Re: Where would you tell a 12 year old to park his money

Savings account at bank of dad where dad pays 8% interest sounds like a good idea. It lets your son see the effects of compound interest without having to deal with risk. At 12 I would not be able to understand why my $1500 turned into $750 in the event of a market crash. At 16 he’ll want the money ...
by Jags4186
Sun Feb 04, 2018 9:24 pm
Forum: Personal Consumer Issues
Topic: Potential employer wants me to give offer - how to respond?
Replies: 58
Views: 4956

Re: Potential employer wants me to give offer - how to respond?

If you’re happy with your current role then shoot high. I’d ask for a copy of their complete benefits plan so you can make an apples to apples comparison. If you make $100k and the benefits are equal ask for $150k. If the benefits aren’t equal true it up via salary.
by Jags4186
Sun Feb 04, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6659

Re: How to think about your house from a financial perspective

Whether you call it an investment or not is immaterial. It's a place you live that you own that becomes more affordable relative to other housing options that you do not own. If you own a $500k house free and clear you still have maintenance, taxes, insurance. Depending where you live a $500k house...
by Jags4186
Sun Feb 04, 2018 8:50 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6659

Re: How to think about your house from a financial perspective

Whether you call it an investment or not is immaterial. It's a place you live that you own that becomes more affordable relative to other housing options that you do not own. If you own a $500k house free and clear you still have maintenance, taxes, insurance. Depending where you live a $500k house...
by Jags4186
Sat Feb 03, 2018 6:17 pm
Forum: Personal Consumer Issues
Topic: Bank signup bonus 1099
Replies: 36
Views: 2467

Re: Bank signup bonus 1099

A $200 bank bonus is going to have $20-100 due depending on your federal and state tax brakcets. It’s not insignificant which is why I recommend keeping good track of all bonus you receive and not just spending them as they come in. My wife and I had over $10,000 in bonus interest in 2017. That’s a...