Search found 342 matches

by Nissanzx1
Sun Nov 11, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Do I Need A Credit Score?
Replies: 24
Views: 1097

Re: Do I Need A Credit Score?

I wouldn't worry about it personally. I could care less if mine was zero, 500, 800, etc. I'm not borrowing. I'd rather have actual money ;)
by Nissanzx1
Sun Nov 11, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Regrets from canceling whole life insurance policy - anyone out there?
Replies: 27
Views: 3029

Re: Regrets from canceling whole life insurance policy - anyone out there?

You will have no regrets, get rid of that garbage.

However, make sure your term insurance is in force BEFORE you cancel your whole life. That is, IF you need life insurance.
by Nissanzx1
Sun Nov 11, 2018 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Save/Invest with Student Loans?
Replies: 13
Views: 1470

Re: Save/Invest with Student Loans?

You're thinking about it, which is more than people most do. It really depends on how you feel about that much debt. Does it make you nervous? Do you feel like it limits your future? Do you feel like its adds an element of risk in your life? Is there a better use of that $9750/yr in interest? I'm 40...
by Nissanzx1
Sun Nov 11, 2018 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Emergency fund in my situation
Replies: 17
Views: 1601

Re: Emergency fund in my situation

Some of the things you listed like cars, appliances, roofing, windows aren't emergencies and need separate Sub-accounts for saving. They are Wear items. As for the emergency fund, it can be whatever you are comfy with. I have a brother in law that's an MD and kept about $40K for EF. He was hit by a ...
by Nissanzx1
Sat Nov 10, 2018 8:05 am
Forum: Investing - Help with Personal Investments
Topic: Reverse Mortgage
Replies: 17
Views: 1892

Re: Reverse Mortgage

Are they needing 24 hour in home care? If so, it will only be a matter of months until all their equity is smoked. Do they/you have a grasp on what this costs? Might have to set them down and explain if 24 hour in home care isn't an option. I know elders want to stay in their home, but the reality f...
by Nissanzx1
Sat Nov 10, 2018 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Finances in NYC
Replies: 95
Views: 8182

Re: Finances in NYC

Exciting option on the table for you, congrats on that. You mentioned that saving is your goal. I'd submit to you that you can be rich eventually with $60K living in the Midwest or $111K in NYC with sound financial practices over the long term. I think it boils down to lifestyle (how you want to liv...
by Nissanzx1
Sat Nov 10, 2018 7:48 am
Forum: Personal Consumer Issues
Topic: Moving to NYC without a job
Replies: 33
Views: 5124

Re: Moving to NYC without a job

Just use caution, and have deep, deep savings if you do this. I personally wouldn't move anywhere I didn't have at least some type of basic work lined up unless I had 12 months+ cash in hand. To be 100% honest, I would never move to an HCOL/ High Tax area either. Nothing against NY at all, fact is i...
by Nissanzx1
Thu Nov 08, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ~200k cash. 27-28y/o. Want to go to grad school/medical school. Want to invest in real estate right now.
Replies: 19
Views: 2425

Re: Inherited ~200k cash. 27-28y/o. Want to go to grad school/medical school. Want to invest in real estate right now.

I'd use the money for schooling and invest in real estate with cash after you are settled into your career. Fooling with rentals while in school could blow up in your face.

Congrats on the windfall.
by Nissanzx1
Thu Nov 08, 2018 2:44 am
Forum: Investing - Help with Personal Investments
Topic: How much is too much in savings account?
Replies: 17
Views: 3798

Re: How much is too much in savings account?

Lots of factors and some great answers. We run several online savings accounts with FDIC protection. We love it. 1.8%. We have accounts for nearly every contingency ranging from $200 to 10's of thousands. You can't really have too much as long as it goes toward one of your financial goals/ priorities.
by Nissanzx1
Wed Nov 07, 2018 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Save for future vehicles vs. pay down mortgage
Replies: 11
Views: 536

Re: Save for future vehicles vs. pay down mortgage

The replacement of your car is just a matter of time, save for it now. We eliminated mortgage a year ago and have always held $300/mo back for vehicle fund during the entire process. Even at 1.8%, it makes more sense not to borrow because it's cheaper overall and you will earn interest on your savin...
by Nissanzx1
Wed Nov 07, 2018 4:49 am
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 46
Views: 4480

Re: How much money did you receive from family? (Gifts/inheritance)

I have been very lucky to receive the max taxable gift for several years now while my parents are living. They aren't top 1% in the USA but have done well (worked/saved hard). We purchased a home to rent in cash and payed off our primary in the past years and are actively shopping for another rental...
by Nissanzx1
Tue Nov 06, 2018 12:09 am
Forum: Investing - Theory, News & General
Topic: Anyone ever “borrow” against their emergency fund?
Replies: 23
Views: 2524

Re: Anyone ever “borrow” against their emergency fund?

Call me old fashioned, but we don't touch the emergency fund unless there is an emergency...
by Nissanzx1
Sun Nov 04, 2018 1:55 pm
Forum: Investing - Theory, News & General
Topic: 2019 Retirement Contribution Limits Announced
Replies: 54
Views: 7111

Re: 401k/IRA contribution limits rise for 2019...

We will take advantage on the Roths but sadly don't quite make enough to take advantage of the max 401K's although we do Place about 15% in there tax deferred...
by Nissanzx1
Sun Nov 04, 2018 1:26 pm
Forum: Personal Consumer Issues
Topic: Time to splurge. MB E class, BMW 5 or Audi 6?
Replies: 70
Views: 6042

Re: Time to splurge. MB E class, BMW 5 or Audi 6?

BMW with Sport suspension and don't look back.
by Nissanzx1
Sun Nov 04, 2018 8:35 am
Forum: Personal Consumer Issues
Topic: Please help me with my car decision
Replies: 42
Views: 3454

Re: Please help me with my car decision

Just add another car. Panamera or something. You make a fortune and manage it well. My wife and I make way less (roughly same age) and we have six vehicles (all paid for). We enjoy them and they represent a small portion of our NW picture. Our experience is another car always comes in handy when a r...
by Nissanzx1
Wed Oct 31, 2018 6:23 am
Forum: Personal Consumer Issues
Topic: Luxury Sedans for around $25k used with lower miles? AWD?
Replies: 38
Views: 2702

Re: Luxury Sedans for around $25k used with lower miles? AWD?

Best bet is LS460 you'll be straining the budget a touch for AWD but worth it. To the poster that said lipstick on a pig, drive the LS 460 and you will stand corrected.

5 series BMW is a good option too and much less expensive but won't hold value like LS460.
by Nissanzx1
Tue Oct 30, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Should I co-sign for relative?
Replies: 103
Views: 4980

Re: Should I co-sign for relative?

I wouldn't consider it for even a second.
by Nissanzx1
Tue Oct 30, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: The Case for Renting
Replies: 31
Views: 3681

Re: The Case for Renting

I'd just keep renting, pay off the loans and stock pile money. With your income, you can put cash together very quickly. In the meantime real state should weaken a touch... that combined with a strong cash position, you will get a great deal.
by Nissanzx1
Tue Oct 30, 2018 6:21 am
Forum: Personal Consumer Issues
Topic: People with older car, share your unusual repairs
Replies: 84
Views: 5302

Re: People with older car, share your unusual repairs

I have a 2003 Honda Element with 267K Miles. It's on its third transmission (yes I changed the fluid religiously with the Honda fluid). Just lost the a/c compressor this year ($500). I now have so much money in this car, I HAVE to drive it for several more years to get the money back. "At least it's...
by Nissanzx1
Sun Oct 28, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: Are you too wealthy for a LIQUID emergency fund?
Replies: 29
Views: 4972

Re: Are you too wealthy for a LIQUID emergency fund?

No sorry, a healthy emergency fund is the ultimate luxury...
by Nissanzx1
Sun Oct 28, 2018 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9355

Re: Girlfriend's Student Loans

I went through this situation when I got married. I brought it up during engagement to make sure she understood that we would not be wandering through life with $65K in student loans. It took us about 2.5 years to get it done. Like you, I was pretty responsible previously. I certainly didn't shame h...
by Nissanzx1
Sun Oct 28, 2018 7:02 am
Forum: Investing - Help with Personal Investments
Topic: 5-10 year horizon for $100K
Replies: 11
Views: 1121

Re: 5-10 year horizon for $100K

5 years or under- most experts will recommend a CD...
by Nissanzx1
Sat Oct 27, 2018 7:14 am
Forum: Personal Consumer Issues
Topic: How many miles (total) on car before buying another car ?
Replies: 114
Views: 7223

Re: How many miles (total) on car before buying another car ?

Cars are being built better overall and many will go to 300K plus with proper maintenance. My current daily driver has 267K. I'm saving for another vehicle with no current plans to purchase anything. We always keep an extra vehicle here so we never have to rent our borrow one when there is a breakdo...
by Nissanzx1
Thu Oct 25, 2018 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Equity out of Rental Property to Invest
Replies: 7
Views: 712

Re: Taking Equity out of Rental Property to Invest

Real estate where money is still owed isn't really that much fun. Constant pressure if the tenant doesn't pay or if there is an vacancy. Do we take the one qualifying renter who we don't have a good gut feeling on because we don't want to make the payment out of "our" money this month. No thanks sor...
by Nissanzx1
Wed Oct 24, 2018 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Withdraw 401k for Down Payment
Replies: 20
Views: 1469

Re: Withdraw 401k for Down Payment

401K isn't a savings account and raiding one or 4 to come up with this is a mistake. You'll be loosing 40% plus of your money if you take it as a withdrawal. Only way I'd raid one is maybe to avoid a foreclosure- maybe. You need to wait to buy anything until you tighten the budget and save. Rushing ...
by Nissanzx1
Tue Oct 23, 2018 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Car lease is up: buy it or get a new lease?
Replies: 46
Views: 3934

Re: Car lease is up: buy it or get a new lease?

With your income and net worth I honestly find it silly to make any car payment at all on a vehicle. You can make enough money for a new civic in like a week and a half. Long term it's not the smartest to rent. Look at owning your residence some day. Lowers overall cash flow costs and you will still...
by Nissanzx1
Tue Oct 23, 2018 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Pay cash for the new car or finance (and what to invest with the cash)?
Replies: 32
Views: 2916

Re: Pay cash for the new car or finance (and what to invest with the cash)?

I'd write the check and be done, that is an awfully nice car- Congrats!
by Nissanzx1
Tue Oct 23, 2018 11:18 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 58
Views: 6086

Re: Best way to complain about Hertz bait-and-switch?

I was in car rental for over a decade. Raise hell with the area manager and ask for something tall (free week of rental, etc). You will get whatever you want. These places make so much money they just will want you to go away paid off.
by Nissanzx1
Tue Oct 23, 2018 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 4868

Re: When Will Attaining Millionaire Status Be Obsolete?

It will be the benchmark for my lifetime (I'm 40). I'm not there but should be eventually...
by Nissanzx1
Tue Oct 23, 2018 4:46 am
Forum: Personal Consumer Issues
Topic: What do you spend your money on outside of expenses and investments?
Replies: 23
Views: 1730

Re: What do you spend your money on outside of expenses and investments?

I buy really nice wrist watches. It's my guilty pleasure. Wife likes vacations.
by Nissanzx1
Mon Oct 22, 2018 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Pay off mortgage early vs IRA
Replies: 8
Views: 737

Re: Pay off mortgage early vs IRA

I always kind of cringe anytime someone brings up the mortgage interest deduction as a reason to keep a loan around. It's like paying $5 to get $1 back for most people...
by Nissanzx1
Mon Oct 22, 2018 10:54 pm
Forum: Investing - Help with Personal Investments
Topic: For those who paid off house - how did you do it?
Replies: 97
Views: 7739

Re: For those who paid off house - how did you do it?

Paid off a 30 year fixed last year in 5 years at 39. I saved 6% in my 401K to get the match, then chucked everything I had over $50 at the loan. I sold things on eBay as a side hustle, like ALOT of things. I made principle reduction payments nearly every single day. I sold some expensive collectible...
by Nissanzx1
Mon Oct 22, 2018 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance help
Replies: 7
Views: 683

Re: Inheritence help

Sorry for the loss, buy a CD for 6 month or 12 months and process the loss. It's important to not do anything rash. Your cars are insane with your income level, I would sell both and buy two $5000-8000 cars. Your cars are worth as much as your annual income. Not something you can afford to watch dep...
by Nissanzx1
Sun Oct 21, 2018 9:23 pm
Forum: Personal Consumer Issues
Topic: Why Purchase an Automobile using Premium Gasoline?
Replies: 68
Views: 3134

Re: Why Purchase an Automobile using Premium Gasoline?

shunkman wrote:
Sun Oct 21, 2018 9:19 pm
While we are at it, what's the best brand of oil to use?
That's almost a religious question to some. I use Mobil 1 full synthetic or Walmart Super Tech Full Synthetic. The walmart oil performs very well and is only like $17 for 5 quarts ($20 full synthetic oil change).
by Nissanzx1
Sun Oct 21, 2018 9:15 pm
Forum: Personal Consumer Issues
Topic: Why Purchase an Automobile using Premium Gasoline?
Replies: 68
Views: 3134

Re: Why Purchase an Automobile using Premium Gasoline?

I've put 100's of thousands of miles on cars that require premium. I use 87 octane, never any problem. I have two Mercedes in the garage now with 87 in the tanks. One we drove 150 miles this morning...
by Nissanzx1
Sun Oct 21, 2018 9:10 pm
Forum: Personal Consumer Issues
Topic: Quitting w/o notice
Replies: 132
Views: 8724

Re: Quitting w/o notice

I've done it, I didn't think twice about it. I left my key in a locked mailbox with a simple note. Company and people were awful and I would have starved before I would take a reference from them. Nobody even called me and I was there over 10 years if that tells you anything about the culture. Curre...
by Nissanzx1
Sun Oct 21, 2018 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: 2 rental car reservations?
Replies: 23
Views: 1413

Re: 2 rental car reservations?

Why not? They do it to you- trust me I was in that business for a decade.
by Nissanzx1
Sun Oct 21, 2018 8:06 am
Forum: Investing - Help with Personal Investments
Topic: Am I doing it right?
Replies: 17
Views: 1514

Re: Am I doing it right?

I suppose it depends on income ($18500 for each spouse plus $1000/mo is great if you make $195K but not so great if you make $600K). Just goal yourself out at 15-20% of income (depending on how rich you want to be) and for most people you will be fine with this level of retirement funding. Watch the...
by Nissanzx1
Sat Oct 20, 2018 7:25 am
Forum: Personal Finance (Not Investing)
Topic: If I'm convinced to stop making extra mortgage payments, should I recast?
Replies: 15
Views: 2097

Re: If I'm convinced to stop making extra mortgage payments, should I recast?

You didn't list your income but your mortgage debt seems like something you could settle in just a few years if you buckled down and really tightened up your budget. It's a game changer, there is no need to flirt with this mortgage for another 12-15 years. I'd punch it in the face every month, until...
by Nissanzx1
Sat Oct 20, 2018 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 188
Views: 17071

Re: Where would you go for financial guidance if you win the Megamillions?

I would hire a good estate attorney and manage everything myself. I'd spend most of the next few years aquiring real estate. I would be looking at ways I could really help people in my community- really trying to solve issues for the long term. I would even possibly create a low-fee, low-cost payday...
by Nissanzx1
Fri Oct 19, 2018 6:48 am
Forum: Personal Consumer Issues
Topic: To replace old Volvo
Replies: 35
Views: 1491

Re: To replace old Volvo

Just buy a slightly newer Volvo. Have a mechanic look before you let go of the cash. Used Volvos are among the cheapest vehicles available.
by Nissanzx1
Thu Oct 18, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: 0% APR for 6 months -- any disadvantages ?
Replies: 3
Views: 332

Re: 0% APR for 6 months -- any disadvantages ?

While it's possible to earn a few extra dollars, this type of thing is kinda a risk/reward thing. I don't consider the reward to outweigh the risk of accidentaly missing a payment...
by Nissanzx1
Wed Oct 17, 2018 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Too good to be true; what am I missing?
Replies: 17
Views: 3099

Re: Too good to be true; what am I missing?

Risk is the only thing you left out. As long as you lay out what risks might present, and you're ok with those risks, do what you like.
by Nissanzx1
Wed Oct 17, 2018 3:32 am
Forum: Personal Consumer Issues
Topic: Maserati Experiences
Replies: 47
Views: 5543

Re: Maserati Experiences

Ferrari repair prices with the added bonus of double digit depreciation every year. No way sorry. Buy a Ferrari or Lamborghini instead.
by Nissanzx1
Mon Oct 15, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Kids not interested in money / allowance
Replies: 50
Views: 5081

Re: Kids not interested in money / allowance

I was raised by people just like you. They are now nearly 70, retired multimillionaires. I got out of college (their dime) and struggled with money/debts/credit. They never taught me to borrow but I had 3 Mercedes (on payments) and 11 credit cards and made $40,000/year. I always had a job since 14 b...
by Nissanzx1
Sun Oct 14, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: When to stop putting money into an older vehicle
Replies: 90
Views: 6464

Re: When to stop putting money into an older vehicle

About 1.5 years ago I put $3600 into my Honda Element that had a book value of about $3600. I looked at several factors such as: cost of a similar 4x4 vehicle, cost of sales tax (9.25% here), the fact that I have religiously maintained this one and who knows about the used one I would be buying... t...
by Nissanzx1
Sun Oct 14, 2018 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buy car cash or take low rate loan
Replies: 33
Views: 1923

Re: Buy car cash or take low rate loan

Thanks all. No issues at all with liquidity. It’s a small hassle but $300 a year is still $300 extra. I live my life by nickel and diming everything so every $1 counts. Buying a brand new car for $38k and nickel and diming don't exactly seem to me to go hand in hand. This car will depreciate $8k in...
by Nissanzx1
Sun Oct 14, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Buy car cash or take low rate loan
Replies: 33
Views: 1923

Re: Buy car cash or take low rate loan

Do you have the 38K over and above your emergency fund? If yes, do what you like. I wouldn't personally want to fool with making monthly payments but maybe that doesn't bother you. Watch the fine print, maybe one late pay could raise the interest up...
by Nissanzx1
Sun Oct 14, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Using credit card rental car insurance
Replies: 14
Views: 1278

Re: Using credit card rental car insurance

Read your card agreement very thoroughly. These situations do make me nervous. Enjoy the trip.
by Nissanzx1
Sun Oct 14, 2018 3:07 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor discussing finances with me
Replies: 64
Views: 6113

Re: Neighbor discussing finances with me

My new neighbor told me he lost almost everything in Enron :oops: They both are older and even have trouble walking but still have to work M-F and he says they will work for a couple more years. They didn't paint their home this year because of the cost of a knee surgery. In your situation, I'd buy ...