Search found 229 matches

by frugalmama
Thu Jul 26, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Debt free -- impact on credit score
Replies: 16
Views: 1692

Re: Debt free -- impact on credit score

This whole FICO score thing is a mystery to me: No debt, payoff every month. I make a major purchase and pay it off when due, and my score goes down, presumably for high utilization. I would think my score would go up as I am demonstrating financial ability :oops: :confused Over the past year, my s...
by frugalmama
Thu Jul 26, 2018 2:12 pm
Forum: Personal Consumer Issues
Topic: Toughest Purchase of my Life. Engagement Ring time
Replies: 229
Views: 17908

Re: Toughest Purchase of my Life. Engagement Ring time

My question is...Will it make her happy to be engaged or the ring itself will make her happy? Believe it or not, it is not every girl's dream...only some girls'. I know several who didn't want huge rings or huge weddings. For me, I wouldn't want a ring that expensive and would feel it was a waste of...
by frugalmama
Wed Jul 25, 2018 12:26 am
Forum: Personal Consumer Issues
Topic: Daughter wants to travel on her own to Montreal
Replies: 105
Views: 7681

Re: Daughter wants to travel on her own to Montreal

re language: my wife went to university in montreal. For French language class, she was required to speak french to salespeople/restaurant workers, etc. 99 times out of 100, she'd speak french and the reply would be in english. And she was completely fluent. that was 30 years ago, so I'm thinking s...
by frugalmama
Tue Jul 24, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to change one's career in their 40s?
Replies: 88
Views: 9431

Re: Is it possible to change one's career in their 40s?

My problem is that the things that I am most passionate about aren't really all that marketable. Is it that there isn't a market or is it that you haven't figured out how to market them? There is a difference. For example, Jim Carpenter probably had no idea his Wild Birds Unlimited store would take...
by frugalmama
Tue Jul 24, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Is it possible to change one's career in their 40s?
Replies: 88
Views: 9431

Re: Is it possible to change one's career in their 40s?

Is there something you want to move away from IT and in to? I had Accounting/Finance in mind since it seems to be a relatively stable field. Looking at the company I work in, some of the Finance/Accounting folks who started when I did are in executive positions while the department I work in was cu...
by frugalmama
Sat Jul 21, 2018 3:09 pm
Forum: Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 15152

Re: Should I Dump a Pile of Money on Young Son?

You should read the millionaire next door before doing so. You might ruin his life by doing so. I second this advice. I would keep my mouth shut about it and your wealth altogether. Let your kid live his life. I would not even consider such a gift until the child is 35. I would probably not distrib...
by frugalmama
Sat Jun 23, 2018 8:09 pm
Forum: Investing - Theory, News & General
Topic: Why won't Vanguard drop VTI & VOO expense to 0.03?
Replies: 65
Views: 9135

Re: Why won't Vanguard drop VTI & VOO expense to 0.03?

I'd be willing to pay a few extra basis points if Vanguard would improve their online portal (website, database, IT systems, etc.). Seriously. I hear this a lot on the forum, and I don't really get it. It seems... fine? Like it's not the most modern interface and it takes a couple hours after the c...
by frugalmama
Sat Jun 23, 2018 2:19 pm
Forum: Personal Investments
Topic: Is this all investing is?
Replies: 38
Views: 4411

Re: Is this all investing is?

I entirely get this. I was much like you in my early life. I recommend figuring out what makes you really happy. The point of FI is so that you can lead the happiest and most purposeful life possible. That means different things to different people. Money doesn't bring happiness though and neither d...
by frugalmama
Sat Jun 23, 2018 12:26 pm
Forum: Personal Consumer Issues
Topic: Did you celebrate when you finally hit $1m?
Replies: 282
Views: 33916

Re: Did you celebrate when you finally hit $1m?

No, but it put a smile on my face. Knowing it could hit that amount several times over several years (aka market drops) kept me from a big celebration. It also depends on what you count. If you are looking at only investment accounts or all assets. If looking at all assets (net worth), then how you...
by frugalmama
Sat Jun 23, 2018 11:21 am
Forum: Personal Consumer Issues
Topic: Washer Dryer Deals
Replies: 7
Views: 765

Re: Washer Dryer Deals

If you don't care if they match, a Habitat for Humanity restore is a great place to get a used one and the proceeds go to help build more houses. I got a washer to replace my 17 year old one and it was about a year old top of the line model for just a couple hundred dollars. I haven't had any proble...
by frugalmama
Wed Jun 20, 2018 9:37 pm
Forum: Personal Investments
Topic: Evaluate my finances. Young guy.
Replies: 96
Views: 15150

Re: Evaluate my finances. Young guy.

600k net worth, still haven't paid back a close relative :shock: They are happy with the interest structure and have no need for the money right now; I am happy with continuing to use the money to invest. I think it is a win-win for both parties. I think I am different than most people on this foru...
by frugalmama
Tue Jun 19, 2018 3:46 pm
Forum: Personal Investments
Topic: I feel like selling my 3 fund
Replies: 57
Views: 8727

Re: I feel like selling my 3 fund

I think I would sell your VBLTX and buy more VTIAX and VTSAX. Sell your hand picked stocks and buy more VTIAX and VTSAX. Continue to save and buy more VTIAX and VTSAX. Sit back and relax while reading A Random Walk Down Wall Street, by Burton G. Malkiel This is great advice and a fabulous book reco...
by frugalmama
Mon Jun 18, 2018 9:47 pm
Forum: Personal Consumer Issues
Topic: Which Supermarket are you?
Replies: 155
Views: 10722

Re: Which Supermarket are you?

Aldi, Kroger, Sams, Sprouts. I hit up each store for specific items and shop their sales.
by frugalmama
Mon Jun 18, 2018 1:04 pm
Forum: Personal Investments
Topic: Having a hard time pulling the trigger...
Replies: 25
Views: 2791

Re: Having a hard time pulling the trigger...

magicrat wrote: Mon Jun 18, 2018 11:44 am Question: If your bonus was paid out in shares of VTI totaling $250k, would you have immediately sold them, then come here asking the same questions? Or would you have just stayed invested?
+1 I think that is a great way of looking at it.
by frugalmama
Tue Jun 12, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: How do you celebrate (potty trained kid) milestone with your spouse?
Replies: 93
Views: 6551

Re: How do you celebrate (potty trained kid) milestone with your spouse?

Push gifts 'Babymoon's And now celebrating (successful) potty training? I feel like an old codger and I'm only in my mid-40s. I think we celebrated the end of potty training with a high-five or perhaps a kind word to each other? Maybe a drink on the deck. +1 Man, I missed out on a lot of celebratio...
by frugalmama
Wed Jun 06, 2018 2:51 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9648

Re: What commuter car provides the best long term financial value?

I vote Prius...after your current car can't be rehabilitated any more, of course. And, I'd buy the Prius used. We purchased one used about 7 years ago and have had no major issues with it...we've done very little except basic maintenance like oil changes, tires, etc. We drive approximately the same ...
by frugalmama
Wed Jun 06, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 134131

Re: How much money do you need to retire?

I'm 39 now and my plan is to retire at 55 with $1M. The reason that number is low is bc I will be able to pull a decent pension starting when I am 55. Unless you are a government employee, DO NOT assume that pension will be what you expect in 16 years. Your employee could end the pension and freeze...
by frugalmama
Wed Jun 06, 2018 10:26 am
Forum: Personal Consumer Issues
Topic: When should you consider removing the collision coverage on a car?
Replies: 70
Views: 8236

Re: When should you consider removing the collision coverage on a car?

I take it off when I could write a check to replace it without transferring money into my checking account. Somewhere about $3000 - $4000. Insurance companies make money, I only insure things that would be painful to replace. +1 We do have 1 vehicle with it still on it for the rental type of situat...
by frugalmama
Wed Jun 06, 2018 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Can a physician work in tech while practicing as well?
Replies: 57
Views: 4927

Re: Can a physician work in or transition to tech?

I don’t want to sound too rude, but it’s pretty strange to me that you’d want to basically throw out all of the time and money you have invested in to med school so soon after completing. I am assuming you aren’t going to be in debt from it? Even if you are on a super fast careeer trajectory in tec...
by frugalmama
Sun Jun 03, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 134131

Re: How much money do you want to retire?

Need = 0 due to pensions and our frugal lifestyle. I would like to have somewhere between 2-5 million...more would be ok too ;). 38 and 42. I would like to be able to one day help out family and give to charity as we don't need all of that.
by frugalmama
Fri Jun 01, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Best Advice You Never Took
Replies: 100
Views: 16511

Re: Best Advice You Never Took

Take better care of my teeth when I was younger. Dental care is expensive and dental insurance isn't good!
by frugalmama
Fri Jun 01, 2018 9:02 am
Forum: Personal Consumer Issues
Topic: What exactly causes a spring mattress to wear out?
Replies: 27
Views: 3583

Re: What exactly causes a spring mattress to wear out?

Here is what we've found with mattresses. Pillow top mattresses wear out because the pillow top breaks down. What you are left with is a lumpy surface that is uncomfortable. We went to buying a very simple firm or extra firm mattress with no padding. We then add a memory foam mattress topper. When ...
by frugalmama
Thu May 31, 2018 3:49 pm
Forum: Personal Investments
Topic: Issues redeeming Vanguard Prime Money Market Fund
Replies: 35
Views: 2846

Re: Issues redeeming Vanguard Prime Money Market Fund

I recommend calling Vanguard. I have never had problems when I call them, but sending a secured message hasn't worked for me always - Even when it does, it can take a while for them to respond or the answer doesn't always provide the info. I need. I have never really had problems with Vanguard's ph...
by frugalmama
Thu May 31, 2018 9:21 am
Forum: Personal Investments
Topic: Issues redeeming Vanguard Prime Money Market Fund
Replies: 35
Views: 2846

Re: Issues redeeming Vanguard Prime Money Market Fund

I recommend calling Vanguard. I have never had problems when I call them, but sending a secured message hasn't worked for me always - Even when it does, it can take a while for them to respond or the answer doesn't always provide the info. I need. I have never really had problems with Vanguard's ph...
by frugalmama
Thu May 31, 2018 9:01 am
Forum: Personal Investments
Topic: Issues redeeming Vanguard Prime Money Market Fund
Replies: 35
Views: 2846

Re: Issues redeeming Vanguard Prime Money Market Fund

I recommend calling Vanguard. I have never had problems when I call them, but sending a secured message hasn't worked for me always - Even when it does, it can take a while for them to respond or the answer doesn't always provide the info. I need. I have never really had problems with Vanguard's pho...
by frugalmama
Thu May 31, 2018 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 153
Views: 35765

Re: Have $3m at 33, "approach to career" advice needed

Congratulations! I agree with others about "finding your passion". We didn't have 3M, but we realized that we didn't have to keep saving at the rate that we were and we didn't need the high income that DH had (and all the stress that came with it)....he could take any job he wanted. So, he took a li...
by frugalmama
Thu May 31, 2018 8:28 am
Forum: Personal Consumer Issues
Topic: Citi Slashes Card Benefits at least on Double Cash cards
Replies: 27
Views: 4125

Re: Citi Slashes Card Benefits at least on Double Cash cards

I got the email, but it really doesn't matter to me that much as I've never used any of those other benefits besides the 2% The second they mess with the 2% though, I'm gone and will be looking for a new card.
by frugalmama
Wed May 30, 2018 10:11 pm
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Re: Where would you put the extra each month?

This all makes a lot more sense to me now and has made me realize I need to go a very different way (creating taxable income) than what I was thinking (trying to lower my taxable income). Good for you! If there is something that appears incorrect in (or simply missing from) that spreadsheet applica...
by frugalmama
Wed May 30, 2018 3:07 pm
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Re: Where would you put the extra each month?

I think the problem is that I'm not sure what type of dollar we are calculating the marginal rate on - SE or W-2 dollar as it interacts in the equation differently. For traditional vs. Roth, you want to calculate the marginal tax saving rate using the traditional vehicle of choice. E.g., if it woul...
by frugalmama
Wed May 30, 2018 2:50 pm
Forum: Personal Consumer Issues
Topic: Making collegebound Kid Financially Savvy Questions..
Replies: 54
Views: 4847

Re: Making collegebound Kid Financially Savvy Questions..

I wanted to raise up one of the specific points again in this thread. What suggestions do others have today for teaching teens to track their spending (checking in this case) account? There was a mention of Mint and spreadsheets as options and I'm trying to figure out what others have done. When I ...
by frugalmama
Wed May 30, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: get sued for posting nagative online review?
Replies: 64
Views: 8293

Re: get sued for posting nagative online review?

J295 wrote: Wed May 30, 2018 10:51 am Financial risk seem small.
The financial risk doesn't come from the judgement, but rather the lawyer bills to defend yourself as the suits can drag on and on and on. You usually don't get lawyer fees back.
by frugalmama
Wed May 30, 2018 12:25 pm
Forum: Personal Consumer Issues
Topic: Please help with grocery budget
Replies: 51
Views: 5168

Re: Please help with grocery budget

Thank you everyone for huge number of suggestions! Dietologists also suggest eating beans so I'll add it 1-2 times per week. I'll also revisit Aldi to take a closer look. Me & DW both work full time so we cannot chase every coupon/discount but whenever I see a decent price I buy a bulk (last time b...
by frugalmama
Sun May 27, 2018 9:54 pm
Forum: Personal Consumer Issues
Topic: Please help with grocery budget
Replies: 51
Views: 5168

Re: Please help with grocery budget

Do you want to eat the same stuff for cheaper or are you wanting to gain the same nutritional content from cheaper sources? I spend less than half of that for 12 people a month - This month was 599 and last month I spent 512 (and that includes toiletries and dish soap, etc. too). We eat pretty healt...
by frugalmama
Thu May 24, 2018 1:46 am
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Re: Where would you put the extra each month?

But if your income is that low, you wouldn't be in the 10% federal bracket, so...? You are right. I think the problem is that I'm not sure what type of dollar we are calculating the marginal rate on - SE or W-2 dollar as it interacts in the equation differently. No...it wouldn't be 10%- 10% before ...
by frugalmama
Wed May 23, 2018 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: I've never budgeted sucessfully
Replies: 59
Views: 6437

Re: I've never budgeted sucessfully

I know how important a budget is, but I have never been able to do one. I've tried YNAB (and recommended it to another poster in this forum), and others, as well as small notebooks, etc. I use YNAB and love it and it sounds like you saw some positive things about it too if you recommended it. It ac...
by frugalmama
Wed May 23, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a house, downpayment vs. retirement and other considerations
Replies: 175
Views: 10543

Re: Purchasing a house, downpayment vs. retirement and other considerations

I keep getting pushback on this point and don’t get why. It is because all of us who have kids and who own homes know that your expenses are going to be a lot higher than you anticipate because we currently have those expenses and are struggling with your budget based on your home price and salarie...
by frugalmama
Wed May 23, 2018 10:05 am
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Re: Where would you put the extra each month?

1) Does a 401(K) employer contribution actually reduce my SE income or does it really end up being a wash when all is said and done? The employer contribution does not decrease your self employment income, but it does decrease your personal income/AGI. Employer contributions are always traditional....
by frugalmama
Wed May 23, 2018 9:53 am
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Re: Where would you put the extra each month?

1b. Not a 529 - but that's based on the guess that you are likely to receive significant financial aid from any college. Have you looked at Resources | Federal Student Aid or similar? 3. If your marginal rate is indeed the same as your tax bracket (10%), and you are reasonably sure both will increa...
by frugalmama
Wed May 23, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Chase Savings Account emptied out!
Replies: 77
Views: 14401

Re: Chase Savings Account emptied out!

Review your accounts monthly. Reminder to myself. :wink: I check every 2 weeks! You can get cleaned out in much less than two weeks. I have text alerts for about anything over $100 from my checking accounts and credit cards and I check my accounts on a desktop usually every other day I feel like. I...
by frugalmama
Wed May 23, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Three steps forward, two back with saving
Replies: 26
Views: 3895

Re: Three steps forward, two back with saving

I suggest using YNAB (You Need a Budget), a budgeting app. You are able to create money "buckets" within the app, so there is no need to create additional savings accounts. I have used this app for the past two years and have had great success. They offer a free trial if you want to try it out for ...
by frugalmama
Wed May 23, 2018 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Quicken - Do you use it?
Replies: 59
Views: 5808

Re: Quicken - Do you use it?

I loved MS Money and was sad when it disappeared. I used Quicken but jumped ship when someone introduced me to You Need a Budget YNAB (I felt it works better for me as I'm self employed and there were particular features that seemed to be more in line with the way I do business. For example, I like ...
by frugalmama
Wed May 23, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 3328

Re: Need help with debt strategy

Congratulations on graduating and your new job! You've received some great advice here. You have a lot going for you and one of them is that you found this forum...I wish I had found it sooner myself! I would try to live on as little as possible until you get the credit cards paid off (and possibly ...
by frugalmama
Mon May 21, 2018 12:06 pm
Forum: Personal Investments
Topic: Where would you put the extra each month?
Replies: 10
Views: 2921

Where would you put the extra each month?

I need help figuring out what is the best direction to go with extra cash (5-20K) each year (income fluctuates a lot monthly)...and some general questions about retirement accounts. I appreciate any help you can give. This is a revision post based off of this thread: https://www.bogleheads.org/forum...
by frugalmama
Mon May 21, 2018 9:21 am
Forum: Personal Investments
Topic: Asset Allocation - Help with Retirement Planning
Replies: 5
Views: 773

Re: Asset Allocation - Help with Retirement Planning

I suspect that most forum readers saw that your assets are exclusively with Vanguard and assumed that you are an experienced and informed investor. From the standpoint of low-cost indexed funds they would be right. If you have specific questions about how to go about investing in a solo 401k, you m...
by frugalmama
Fri May 18, 2018 11:23 am
Forum: Personal Consumer Issues
Topic: Arghhh! Oven Door Fell Off Again! <Update post 15>
Replies: 15
Views: 3285

Re: Arghhh! Oven Door Fell Off Again! <Update post 15>

I had the Jen-air convection ovens and no longer have it. It was already installed in the house when I moved in (2 of them actually). My problems started with the hinges appearing to melt/crack/break. Shortly after that, the circuit board decided to malfunction and somehow in the process the oven do...
by frugalmama
Fri May 18, 2018 8:52 am
Forum: Personal Investments
Topic: Asset Allocation - Help with Retirement Planning
Replies: 5
Views: 773

Re: Asset Allocation - Help with Retirement Planning

Thank you for your reply ExistStageLeft. I really appreciate it. If you do want to tilt towards something, I suggest picking one and spelling it out in an Investment Policy Statement. The IPS could also state what your desired bond position is and at what stage in life you'll change it. Is there any...
by frugalmama
Thu May 17, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 66181

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

For reference, the married filing jointly (MFJ) tax brackets in 2018: 10% $0 12% $19,050 22% $77,400 24% $165,000 32% $315,000 35% $400,000 37% $600,000 Plus, you have the $24k standard deduction, so the first $24k is tax free. Now, lets assume at 4% withdrawal rate. This means you can withdraw $24...
by frugalmama
Thu May 17, 2018 12:50 pm
Forum: Personal Investments
Topic: Asset Allocation - Help with Retirement Planning
Replies: 5
Views: 773

Asset Allocation - Help with Retirement Planning

Hi, I need some help with our investment planning/AA. I hope I did this right.... Emergency funds: 2 months and do not plan on more as DH has an extremely stable main job, use our Roths (contributions) as back up, have multiple sources of income from other job diversification, etc. and feel very com...
by frugalmama
Thu May 17, 2018 10:16 am
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 264
Views: 63579

Re: What's the ideal safe retirement net worth target?

This thread has certainly revealed the bias of bogleheads towards being high-net-worth individuals. 1) Your house absolutely can be spent in retirement. It can be borrowed against, or it can be sold and used to pay rent (which obviously adds to your expenses). There's no rule that your kids need to...
by frugalmama
Thu May 17, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage decision killing me
Replies: 52
Views: 7942

Re: Mortgage decision killing me

Nestegg_User wrote: Thu May 17, 2018 12:44 am I’d echo others: get the 30 year and prepay like it’s a 15 year, you can always “back off” the prepayment but you cannot stop if it’s a 15 year, unless you refinance. ( and definitely not the ARM)
+1