Search found 6339 matches

by cherijoh
Thu Sep 12, 2019 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: About to close on home and discovered Lien on home??
Replies: 25
Views: 3531

Re: About to close on home and discovered Lien on home??

We're really frustrated. There are a few "must-do" repairs that need to happen with the home before move-in and this is cramping our timeline with 0ur booked and paid-for move. Moreover, the sellers and their realtor have been aggressive with us about closing quickly--calling us a lot asking about ...
by cherijoh
Thu Sep 12, 2019 2:21 pm
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6579

Re: Where should we cut back saving/investing?

Thanks for your feedback! We may have the opportunity to increase income through promotions--I've explained in more detail above. I would be interested in a side gig (I actually did have one until a year or so ago) and will explore more options. I'm not discouraged. My folks never made much money b...
by cherijoh
Thu Sep 12, 2019 11:28 am
Forum: Investing - Theory, News & General
Topic: Not market timing is hard
Replies: 31
Views: 3270

Re: Not market timing is hard

In the past couple of years, every time the market has reached new highs, I find myself wanting to sell some stocks. I have always allowed myself to market time a little bit - I play around at the edges of my rebalancing bands (for example, if 60% with a 5% rebalancing band, then sell down to 55% i...
by cherijoh
Thu Sep 12, 2019 8:25 am
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6579

Re: Where should we cut back saving/investing?

After having a baby about 9 months ago and taking on associated expenses (i.e. daycare), we (ages 33 and 35) are at a point where we're likely going to have to cut back on investing. We are fortunate to be able to invest pretty aggressively but I don't want to cut us too close. Relevant details and...
by cherijoh
Thu Sep 12, 2019 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Cash Flow or House Assets
Replies: 9
Views: 719

Re: Cash Flow or House Assets

Primary residence has appreciated $500K with $750K of current estimated equity. Worked two scenarios of turning primary residence into rental and hiring property management (scenario 1) vs selling and moving that equity into down payment of next house (scenario 2). Scenario 2 (selling house) create...
by cherijoh
Thu Sep 12, 2019 7:44 am
Forum: Personal Investments
Topic: Where should we cut back saving/investing?
Replies: 58
Views: 6579

Re: Where should we cut back saving/investing?

After having a baby about 9 months ago and taking on associated expenses (i.e. daycare), we (ages 33 and 35) are at a point where we're likely going to have to cut back on investing. We are fortunate to be able to invest pretty aggressively but I don't want to cut us too close. Relevant details and...
by cherijoh
Thu Sep 12, 2019 7:02 am
Forum: Personal Finance (Not Investing)
Topic: ReFI Advice
Replies: 12
Views: 793

Re: ReFI Advice

Hi want advice if this REFI is a fair/good deal. Currently paying $2718.18 monthly on a 30 year mortgage, about $411k left in principal and 22 months in at 3.625%. Bank is now offering: REFI rate 2.875% on 15 years 1.314% Points = $5,603 + Lender Fee $965 associated closing cost is another $1,824 (...
by cherijoh
Thu Sep 12, 2019 6:47 am
Forum: Investing - Theory, News & General
Topic: Can Traditional IRA or 401K dollars remain completely tax free?
Replies: 19
Views: 1617

Re: Can Traditional IRA or 401K dollars remain completely tax free?

Once you reach the age of 70.5, you can make Qualified Charitable Distributions (QCD) from a TIRA. These are donations to qualified charities and the distributions are completely tax free up to 100K per year. Of course this only works if you have no need to spend the money to cover expenses or if y...
by cherijoh
Thu Sep 12, 2019 6:37 am
Forum: Personal Investments
Topic: Teenager wants to save...
Replies: 29
Views: 2214

Re: Teenager wants to save...

We used a custodian account until they could open an account of their own. Once in college, I shamelessly bribed them, as you are doing now, by “matching” their Roth contributions and letting them keep any earnings that were not explicitly discretionary. Kids got the joy of watching money grow, but...
by cherijoh
Wed Sep 11, 2019 10:55 pm
Forum: Personal Investments
Topic: Teenager wants to save...
Replies: 29
Views: 2214

Re: Teenager wants to save...

Why not just use the Roth until they reach 18 and can make their own account? Same choice of funds would be great. And might as well max Roth contributions. I just helped my 20 yo set up a Roth and she let me choose a target date fund for her. She has zero interest at this time of checking or rebal...
by cherijoh
Wed Sep 11, 2019 3:01 pm
Forum: Personal Investments
Topic: What would you do?
Replies: 12
Views: 1034

Re: What would you do?

I am 40, just received 6 million in a business asset sale (4 dental practices) in April this year and need some frank input from fellow forum members here. For now I have my investment in 3 areas: Commercial: Out of that 6 million, I paid off my commercial building ($2M) from which one of my dental...
by cherijoh
Wed Sep 11, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3237

Re: [Yet Another] How much house can I afford ?

The $2.6 million house seems a bit of a stretch at 7x annual salary and 35% of your pretax income. Is the mortgage for a 30-year term? If so, you will be paying mortgage until age 72. If you buy this house, will you be able to save 20-25% of gross income for retirement? If not, a lower priced house...
by cherijoh
Wed Sep 11, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9770

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

In regards to our children, how do we know giving them financial assistance is going to help them or harm them. Ok, coming out of school debt free seems like a good idea. What about buying a car when they get their first job or helping with a mortgage down payment? Are we making their lives better ...
by cherijoh
Wed Sep 11, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9770

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

TomatoTomahto wrote:
Mon Sep 09, 2019 1:01 pm
Gnirk wrote:
Mon Sep 09, 2019 12:52 pm
We feel blessed that we are in a financial position to help our adult child.
And blessed to have raised a thoughtful older daughter. Let’s hope that the treatments for mental illness continue to improve.
+1

I was thinking the same thing.
by cherijoh
Wed Sep 11, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9770

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

In regards to our children, how do we know giving them financial assistance is going to help them or harm them. Ok, coming out of school debt free seems like a good idea. What about buying a car when they get their first job or helping with a mortgage down payment? Are we making their lives better ...
by cherijoh
Wed Sep 11, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9770

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

There is no benchmark, it’s a personal decision. IMO when/if someone starts gifting to family depends on the giftor’s net worth, age and having a very solid handle on financial projections. It also depends on the giftee’s age/situation too. It looks like you are age 40 per a prior post. A person ag...
by cherijoh
Wed Sep 11, 2019 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning - Pension
Replies: 24
Views: 3041

Re: Retirement Planning - Pension

It seems that the pension is based on retiring at age 65. For every year earlier, you lose 3% of your benefit per year of earlier retirement. So saving aggressively would be a good idea. You two are off to a great start! And a chance for a pension is a huge plus for young folks these days. Lily, I ...
by cherijoh
Wed Sep 11, 2019 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning - Pension
Replies: 24
Views: 3041

Re: Retirement Planning - Pension

Pension is probably a classic case of applying successive approximation to retirement planning. The amount and certainty of the pension benefit increases with time, through the five year vesting requirement, the twenty year early retirement mark, and the thirty year unreduced pension mark. You won'...
by cherijoh
Wed Sep 11, 2019 6:54 am
Forum: Personal Consumer Issues
Topic: [Buying 1/2 pint milk in bulk for school lunches?]
Replies: 68
Views: 4643

Re: Buying 1/2 pint drinks in bulk for lunches?

Why do retailers not sell 1/2 pint milks in quantity? All the other junk drinks are available but no milk. We just got hit with the first week of school lunch expenses: $55 for 2 elementary aged kids. Normally they pack but the first week is crazy and we hadn't set up restrictions on their accounts...
by cherijoh
Wed Sep 11, 2019 6:16 am
Forum: Personal Finance (Not Investing)
Topic: [Frustrated with Vanguard advisory service] Procedures on Death of a Spouse
Replies: 47
Views: 4894

Re: Vanguard Insane (?) Procedures on Death of a Spouse

Eucalyptus; I'm so sorry for your very recent loss. If your mom is in her mid 80s, even if you and everyone else would describe her as "sharp as a tack" please proceed with caution. My mom was precisely this age when I sat with her during hospital discharge procedures. The nurse explained very clea...
by cherijoh
Tue Sep 10, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay off mortgage?
Replies: 19
Views: 1764

Re: Refinance or pay off mortgage?

I probably wouldn't refinance in your situation. If moving that soon, you would want the lowest closing costs possible, or lender credits that way, and that may not lower your rate enough to make it worthwhile. But, looking around can't hurt any. There may be good deals out there. I would hang onto...
by cherijoh
Tue Sep 10, 2019 4:20 pm
Forum: Personal Investments
Topic: "Tax-Efficient Allocation" Fallacy?
Replies: 14
Views: 1663

Re: "Tax-Efficient Allocation" Fallacy?

I've read so much about the conventional wisdom of placing non-tax efficient asset classes (bonds, reits) into tax-advantaged accounts, and tax-efficient vehicles (low-turnover US index funds and international equities) into taxable accounts. However, it would seem to me that while a bond in a taxa...
by cherijoh
Tue Sep 10, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Spouse/Widow Inheriting My IRA
Replies: 26
Views: 2479

Re: Spouse/Widow Inheriting My Stretch IRA

I took a look at the Wiki, and this seems to be the most relevant paragraph: "A spouse, however, might decide to forgo a spousal rollover if he/she is under the age of 59 and 1/2 and has a clear need for the income from the IRA. As beneficiary, the surviving spouse is required to take minimum distr...
by cherijoh
Tue Sep 10, 2019 8:13 am
Forum: Personal Finance (Not Investing)
Topic: In retirement, a $100 monthly expense needs $30,000 in your portfolio
Replies: 68
Views: 7389

Re: In retirement, a $100 monthly expense needs $30,000 in your portfolio

I know that this is something very simple, but it still kind of amazes me. Perhaps it will help someone, especially someone who isn't a Boglehead and potentially already aware of such things, to see how much of an impact expenses in retirement make on their needed portfolio size. Assuming 4% portfo...
by cherijoh
Tue Sep 10, 2019 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5256

Re: Help me out - What am I doing wrong - Job Hunt related

It turns out they had 4 open positions (2 for each hiring manager) and the job requisitions had been out for a while because they were having problems finding enough qualified people to fill them. I'm pretty sure only one of the 4 positions had been filled at the time of my interview. Everyone was ...
by cherijoh
Mon Sep 09, 2019 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5256

Re: Help me out - What am I doing wrong - Job Hunt related

To a certain extent, interviewing is a numbers game that depends heavily on supply and demand. It depends a lot on the number of open positions at that company vs. the number of qualified applicants. I’ve had on-site interviews where it seemed like they were looking for any excuse NOT to hire me, a...
by cherijoh
Mon Sep 09, 2019 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Hard Life Changes - Help With Looking For Employment After 10 Years
Replies: 48
Views: 5890

Re: Hard Life Changes - Help With Looking For Employment After 10 Years

I sent you a PM with contact info for a recruiter who specializes in analytics/financial services.
by cherijoh
Mon Sep 09, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay off mortgage?
Replies: 19
Views: 1764

Re: Refinance or pay off mortgage?

I probably wouldn't refinance in your situation. If moving that soon, you would want the lowest closing costs possible, or lender credits that way, and that may not lower your rate enough to make it worthwhile. But, looking around can't hurt any. There may be good deals out there. I would hang onto...
by cherijoh
Mon Sep 09, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5256

Re: Help me out - What am I doing wrong - Job Hunt related

Did you get any "tell me about a time when..." questions? Those are behavioral interview questions and they are looking for some key traits to see if you would be a good fit for their culture. Those are good questions to practice as well. Also I fail to see how these types of behavioral questions d...
by cherijoh
Mon Sep 09, 2019 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5256

Re: Help me out - What am I doing wrong - Job Hunt related

So I've been slightly more than passively looking for a job and had some interviews over the past 9 months. And I just got another rejection letter today based upon a face to face from friday so I'm a bit bummed. Truthfully though, for all the face to face I've been on I haven't been super impresse...
by cherijoh
Mon Sep 09, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Which Mortgage would you need?
Replies: 11
Views: 892

Re: Which Mortgage would you need?

We would leave a deposit of about 50%, then pay the loan off when we sell our current house. That is quite a bump up in house! Do you have the downpayment in cash equivalents? Otherwise you need to consider the tax impact of liquidating investments. Here is my cautionary tale: Well before the finan...
by cherijoh
Mon Sep 09, 2019 6:56 am
Forum: Personal Investments
Topic: Too late for a Roth?
Replies: 20
Views: 2506

Re: Too late for a Roth?

Hello, I currently work for the federal government (past 19 years) and have a TSP account with a little over 500k. I plan to retire in about 5 years, 1 month (law enforcement coverage for those who are familiar with TSP). I’ll be 54 when I retire. I plan to move out of the state of CA at that time....
by cherijoh
Mon Sep 09, 2019 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Where to stick windfall for school
Replies: 7
Views: 752

Re: Where to stick windfall for school

Rewards checking, CD ladder or money market fund. Or high yield savings account like Ally Bank. Curreny yield at Ally is 1.9%. Are there fees for taking money out each semester to pay for school? Or any other fees or caveats? Savings accounts and MM allow a maximum of 6 withdrawals or transfers per...
by cherijoh
Sun Sep 08, 2019 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Where to stick windfall for school
Replies: 7
Views: 752

Re: Where to stick windfall for school

Rewards checking, CD ladder or money market fund. Or high yield savings account like Ally Bank. Curreny yield at Ally is 1.9%. Are there fees for taking money out each semester to pay for school? Or any other fees or caveats? Savings accounts and MM allow a maximum of 6 withdrawals or transfers per...
by cherijoh
Sun Sep 08, 2019 8:18 pm
Forum: Personal Investments
Topic: IRA or rollover IRA exempt asset / creditor protection
Replies: 3
Views: 277

Re: IRA or rollover IRA exempt asset / creditor protection

I thought that IRAs have creditor protections and count as exempt assets, especially in Texas. I just wanted to check with you all because I also know there is a lot I don't know. Thank you very much. Creditor protection varies state-to-state for IRAs. Workplace retirement plans are governed by fed...
by cherijoh
Sun Sep 08, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Where to stick windfall for school
Replies: 7
Views: 752

Re: Where to stick windfall for school

bluebolt wrote:
Sun Sep 08, 2019 8:06 pm
Rewards checking, CD ladder or money market fund.
Or high yield savings account like Ally Bank. Curreny yield at Ally is 1.9%.
by cherijoh
Sun Sep 08, 2019 8:03 pm
Forum: Personal Investments
Topic: Roth 401k Help
Replies: 18
Views: 680

Re: Roth 401k Help

Yes, just confirming to the two posters above, I am aware MBDR is not the same as a Roth 401k. I just cut out some of the steps in between; but yea luckily my employer works with Vanguard to do an immediate conversion (I thought about the withdrawal to Roth IRA option too but I figure that's what t...
by cherijoh
Sun Sep 08, 2019 7:34 pm
Forum: Personal Investments
Topic: Roth 401k Help
Replies: 18
Views: 680

Re: Roth 401k Help

Uhh none I think. I'm asking about Roth 401K because, I'm already maxed out my traditional, and my company fortunately allows mega backdoors. Mega Backdoor is NOT a Roth 401k. It is an after-tax option where the earnings are taxable when withdrawn. (FYI - just like for IRAs, the IRS contribution li...
by cherijoh
Sun Sep 08, 2019 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: When to give notice
Replies: 29
Views: 3937

Re: When to give notice

I have been offered a position at a new company that I will be accepting early next week. We are still figuring out a few salary details but I would take what has already been offered. New job to start on 10/14. I think date could be made earlier but not later. I'm a little reticent to try to chang...
by cherijoh
Sun Sep 08, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Confusion
Replies: 4
Views: 540

Re: Capital Gains Confusion

Did I get taxed twice on the sale or just make a mistake when preparing my taxes? Your long-term capital gain is part of your total taxable income. That calculation is done on your form 1040 where the amount from Schedule 1 is added to your wages, dividends, pensions, etc. Since capital gains are t...
by cherijoh
Sun Sep 08, 2019 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford?
Replies: 12
Views: 2173

Re: How Much House Can I Afford?

I would certainly like to stay to the lower end of the price range I initially posted. I am looking at properties from 5-20 acres, and modestly sized houses around 2000 sq ft as to keep the costs of utilities and maintenance lower. Have you ever lived "in the country" before? How far will this plac...
by cherijoh
Sun Sep 08, 2019 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend/Living Will/Trust question...
Replies: 19
Views: 2045

Re: Girlfriend/Living Will/Trust question...

I need some advice on how to handle a complicated issue. This forum has been so helpful--thanks in advance. Some background: My grandfather is 99yo and in good health considering his advanced age. He has 2 sons who stand to inherit half his assets each. My father is one of those sons. Over the past...
by cherijoh
Sun Sep 08, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on selling real estate (Family Property)
Replies: 19
Views: 1293

Re: Advice on selling real estate (Family Property)

Clemblack wrote:
Sun Sep 08, 2019 10:04 am
I suggest offering family members first refusal. If nobody bites, list the house.
+1
by cherijoh
Sun Sep 08, 2019 11:56 am
Forum: Personal Investments
Topic: 2 Misleading Fidelity Target Date Funds
Replies: 55
Views: 4502

Re: 2 Misleading Fidelity Target Date Funds

The title you provided this thread also confuses me: It suggests that there is something deceptive about Fidelity’s index target date funds. If so, what exactly? I understand you prefer that Fidelity would offer no actively-managed funds. But it seems a stretch to conclude that their doing is is de...
by cherijoh
Sun Sep 08, 2019 11:07 am
Forum: Personal Finance (Not Investing)
Topic: 3.875% fixed rate, 30-year mortgage: are you paying it off early?
Replies: 93
Views: 4148

Re: 3.875% fixed rate, 30-year mortgage: are you paying it off early?

My parents took out a 4.75% VA loan in the early 60s. By the time the 70s oil crisis hit and interest rates sky rocketed, they had enough in savings to pay off the mortgage. But passbook savings accounts (anyone remember those?) and CDs shot up into the double digits. Had they paid off their mortga...
by cherijoh
Sun Sep 08, 2019 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Surviving Parent Remarrying - What To Do?
Replies: 40
Views: 5483

Re: Surviving Parent Remarrying - What To Do?

A prenup and an irrevocable trust might defuse your concerns yes, have the discussion with your parent (not to protect yourself, but to protect them / family (deceased) intent.) Gold-digger grabbed my FIL at PW funeral and has purposed to spend every dime BEFORE either one dies. 20+ yrs later has d...
by cherijoh
Sun Sep 08, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: 3.875% fixed rate, 30-year mortgage: are you paying it off early?
Replies: 93
Views: 4148

Re: 3.875% fixed rate, 30-year mortgage: are you paying it off early?

Thanks, cherijoh, a lot of great points here I hadn't really considered yet--especially that in the future cash equivalents could pay more than our low mortgage rate. After I talk it over with my wife, our first priority will be increasing contributions to our tax-advantaged accounts. My parents to...
by cherijoh
Sun Sep 08, 2019 7:55 am
Forum: Personal Finance (Not Investing)
Topic: 3.875% fixed rate, 30-year mortgage: are you paying it off early?
Replies: 93
Views: 4148

Re: 3.875% fixed rate, 30-year mortgage: are you paying it off early?

We are ~30 years old and already invest 21% of our income, not including matches and her pension (26% if we do include these). We contribute enough for full matches. This suggests you are not yet maxing tax-advantaged accounts. IMO at your age socking more money into 401k, 403b, Roth IRAs will cont...
by cherijoh
Fri Sep 06, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help! ERISA Mess With W-2 Contractor 401(k)
Replies: 10
Views: 762

Re: Help! ERISA Mess With W-2 Contractor 401(k)

I agree with the others, you can not be an "independent contractor if you are paid as a W-2 employee . As a W-2 employee, you must be allowed to participate the same as any other W-2 employee. There is no difference for a W-2 contract employee. Meaning the only possible restriction is the one (1) y...
by cherijoh
Fri Sep 06, 2019 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Dimishing value help!
Replies: 21
Views: 1306

Re: Dimishing value help!

My wife got in a car accident about a week ago. She was making a left at intersection and a older man (95 years old) ran the red light. My wife didn't have enough time to stop as she was making a left and hit the guy in on back driver side. The only way this makes sense is if the other driver was o...