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Detroittl

I would use all the cash (minus the emergency fund) and pay down the mortgage.

Keep plowing into brokerage after maxing 401 and Roth and when it’s at mortgage balance pay the mortgage off. Then you’re pretty free.

Detroittl

2004 -5k ...
2007 zero ...
2009 zero found Dave Ramsey ...
2010 30k ...
2013 55k bought house...
2015 65k found bogleheads...
2016 100k ...
2017 253k...
2018 260k sold house...
2019 350k...
2020 435k...

Detroittl

I see that 3 percent average appreciation number thrown around. I believe it’s more like 1 percent unless you’re renovating as it ages. Something to think about. Location location location though...

Detroittl

Good evening,

How does one calculate the amount they are able to contribute to a Roth IRA? % of AGI?

Thanks In advance.

Detroittl

In 4 months I bet it’s an even 700

Detroittl

Keep the cards. Pay down the balances so there is 1 percent use at any given time. In a month or two it should jump 10 to 30 points.

Detroittl

2004 -5k ...
2007 zero ...
2009 zero found Dave Ramsey ...
2010 30k ...
2013 55k bought house...
2015 65k found bogleheads...
2016 100k ...
2017 253k...
2018 260k sold house...
2019 350k...

Detroittl

Worked out so far. Value is 40k less than I sold for a year ago (identical unit in same building sold for that in summer).

Thanks again for advice.

Detroittl

3799 is my pick

Detroittl

Happened to me once. Waited in normal TSA line told agent I lost ID and they asked for a Credit card or something else with my name. Had to do full pat down. Took about 15 minutes of extra time total.

Detroittl

Sam - good insights. The rent is variable but the property taxes have gone from 5000 to 7000 so far and the big bump is supposed to come this fall. Probably another 2000 a year.

Detroittl

Mike -

Cash flow would break even if I rent it out. Lots of risk and I have no interest being a landlord

DTL

Detroittl

Cycle -

Yes I factored that in with a real gain of about 2 percent.

Detroittl

Down 2 percent. 77:23

Detroittl

Michael -

You seem to have planned it pretty well. Bucktown near the 606 seems to have only gone up a few percentage points since 2016 while taxes have gone way way up and heading higher.

Detroittl

Bought a condo almost 4 years ago. It’s gone up 4 percent per year last 4 years. I could rent a smaller nicer place for about what my mortgage is in a better location (to me). Take the equity and invest/save it for MAYBE another purchase condo or SFH In the future (2 to 10 years no idea). 60K in equ...

Detroittl

13% YTD.

75 stocks 25 bonds

Detroittl

2004 -5k ... 55k income 2007 zero ... 60k 2009 zero found Dave Ramsey ...55k 2010 30k ...80k 2013 55k bought house...80k 2015 65k found bogleheads...140k 2016 100k ...135k 2017 (October) 253k...120k Attribute growth to: (in order of impact) Finding bogleheads and maxing out tax advantaged space Inco...

Detroittl

After a lot of research and trying different brands over the years. Travelpro seems to last the longest and is best value. You'll notice most flight crews use it too. (Maybe they get a good deal from travelpro?)

Detroittl

Hit 250k plus milestone on paper and wanted to tell someone. A lot of my behaviors are due to learnings from this site. Thanks everyone!!! Looked at 2016 and saved thousands in fees and made even more due to doing the "right thing" and shoveling more into 401k than I normally would have et...

Detroittl

Don't forget some years bonds do better than stocks

Detroittl

You used to be able to transfer a phone to another number using "72#" but both lines would have to be active.

Detroittl

When I moved in I had my HVAC cleaned out and inspected. The guy who came out recommended I get my AC unit "coils serviced". How often and why do you bogleheads have AC Serviced and what does it entail, cost etc?

Detroittl

On and off plan for 7 years. Don't currently have it. Have an antennae and Netflix. Come winter I may sign up again if there's a hot deal. Save about 70 dollars a month.

Detroittl

Count on appreciation as a bonus. Historically I've read 1 - 3 percent appreciation on average. Could be nothing or go down. Get out of PMI (145 dollars a month on a mortgage that size) by throwing extra money at it. That's the only guaranteed return. Because you can't itemize pmi (your income is to...

Detroittl

PS assuming you have 6 months of living expenses saved and fill it up with furniture I would aggressively pay it down as fast as you can over the next two years to get out of PMI. PPS If you can get a lower rate (25 basis points or more) switch to a 25 or new 30 year on a refi. Hard to imagine rates...

Detroittl

I would go for it. You'll get a decent income tax refund moving forward. Don't spend it. Put it in your "house bucket" and use it for maintence, repairs, improvements and the inevitable property tax increases. For example, I've been in mine 3 years and have had two special assessments (con...

Detroittl

How many years until retirement?

30 year mortgage I assume?

How much would it cost to rent a comparable house in the same area?

Are you going to stay in the house "forever"? What's the state income tax rate?

Detroittl

Ps helped a friend and a relative who consistently carried negative net worth for a decade each making low six figures, guided them a bit and bought them boglehead guide to investing, shared if you can pdf etc and 2 years later one is at 200k net worth and the other 60k after being negative just a f...

Detroittl

2004 -5k ... 55k income 2007 zero ... 60k 2009 zero found Dave Ramsey ...55k 2010 30k ...80k 2013 55k bought house...80k 2015 65k found bogleheads...140k 2016 100k ...135k 2017 (June) 247k ...120k Attribute growth to: (in order of impact) Finding bogleheads and maxing out tax advantaged space Income...

Detroittl

A year and a half later I'm very glad I converted. Thanks again everyone.

Detroittl

I want to get an iPhone 7. What's the best deal out there and best major provider? Best value per month for unlimited everything? Is it a good idea to "lease" the phone since I like a new one every year? A must have is coverage if I drop it with a low deductible.

Anybody have AppleCare ?

Detroittl

A friend is on Medicaid and is low income but wants to start a Roth IRA. Is there any issue there affecting Medicaid eligibility ?

Detroittl

Ytd up 7 percent.

83 percent stocks
17 percent bonds/cash

Detroittl

+1 curb

Detroittl

Hello fellow Bogleheads, DW and i are taking a road trip to Vegas, Bishop California, and Seattle. Our trip will take us through Albuquerque NM. My intent was to stop there for some star gazing at a Dark Site outside of the city. Several people at my wife's work indicated it was not safe to overnig...

Detroittl

So you can buy on the 31st day?

Detroittl

If you sold an equity on April 11th 2016 when can you rebuy it and avoid a wash sale?

Detroittl

I bought a condo two years ago. Knock on wood no major maintance or repairs yet. Tax benefits are great and I live in a nicer place in a slightly better location for less than my rent was. Appreciation has covered my opportunity cost on the down payment money. Something worth the piece of mind knowi...

Detroittl

Congrats! I've been slowly shifting from actively managed funds to low ER similar funds. Don't forget about how you aren't paying for all their advertising and brick and mortar anymore

Detroittl

$100,000 invested for 30 years at 7% return is $811,649.75. I always use a compound interest calculator while I consider big purchase. Recently was deciding between a used Honda Civic or new Audi. The $33k difference comes out to ~250k in retirement. I smile every day I commute to work in my recent...

Detroittl

If the savings is for the boat then fine. If it's savings for your home downpayment or kids' college, then no. Thanks. Interesting thought. I don't usually have a hard budget for my living expenses and I don't usually designate savings for any specific purpose, so I didn't think of that. I specific...

Detroittl

I bought a wakeboat last Spring. It was brand new and quite expensive. Although technically it was a price point brand, it had all the performance of the fancy brands. It wasn't $100K but it was close enough that you can see it from there. We put 126 hours on it in 4 months and I spent 5 weeks (oka...

Detroittl

I was going to say maybe, but then I saw you want to spend $100k (!!), so I'm thinking probably no. How much do you save a year? $20k? $50k? $100k? If you save $100k a year, then maybe I'll change to yes. If you save $50k or less, I'm probably going to stick with no. I bought a boat and jetski a co...

Detroittl

Thanks klang In other words I have 2x annual expenses saved in retirement and 1x annual in brokerage for early retirement. Goal is 25x and 10x respectively. I feel on track right now but don't want to backtrack. I think my plan looks like this : Use some money from my fun fund to rent a few times th...

Detroittl

I am heavily leaning towards renting and used if I do buy.

Thanks again everybody!

Also someone mentioned I'm doing a poor job with retirement funds. If I want to start drawing at 59 I need about 30 times salary... I've got a year's worth now. What would be ideal?

Detroittl

Cheese : +1

Detroittl

Thanks for the advice. I hadn't considered renting first.

The 5x would just be in the brokerage account to bridge the gap until I draw on 401k. Social and pension would be gravy but not factoring in.

Detroittl

I would be using the fun portion of my bonus for slip fees, insurance etc. looking at used too.

Detroittl

I want to buy a boat - it wasn't part of the "plan". 35 single One year's gross base salary saved in combination 401k and Roth. Saving 23 percent of gross salary in 401k (this includes the employer match) Most of annual bonus goes to early retirement fund. Part of it goes into "fun&qu...

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