Search found 341 matches

by ChiKid24
Wed Mar 11, 2020 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Rebook Airfare to save $1,200?
Replies: 12
Views: 1136

Re: Rebook Airfare to save $1,200?

If you cancel the cash goes into your account and can be used for a future flight. Did they define future? If I was running a business I wouldn't let you book the same flight, that is clearly against the spirit of what they're trying to do. If they let you then by all means. But make sure it will w...
by ChiKid24
Wed Mar 11, 2020 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Rebook Airfare to save $1,200?
Replies: 12
Views: 1136

Rebook Airfare to save $1,200?

We booked three tickets to Hawaii months ago and are scheduled to depart in a couple of weeks. Our airline is offering waiver on cancellation and/or change fees. If you cancel the cash goes into your account and can be used for a future flight. The same fare is now $400 cheaper, so I'm thinking of c...
by ChiKid24
Fri Mar 06, 2020 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9306
Views: 649981

Re: Refinance Mega Thread

I am in NJ. Online for me it showed 3.125% for 30 years. I basically picked the lowest rate - Mutual of Omaha. When i applied with basic info, got an email with name/contact - when i called the guy gave me lower rate over phone. In theory you could try more than one lender - I'm already dealing wit...
by ChiKid24
Thu Mar 05, 2020 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9306
Views: 649981

Re: Refinance Mega Thread

I've couple of questions: When you guys get these offers, are you letting lenders pull the credit? Is it with the assumption that multiple credit pulls in short duration don't matter? I see 2.625% refi has 5K additional interest over 15 year term compared to 2.50% refi for 15 years based on amortiz...
by ChiKid24
Thu Mar 05, 2020 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 9306
Views: 649981

Re: Refinance Mega Thread

When people talk about a "no cost" refinance, is it assumed that you still have to pay title fees? Nope. No cost should mean no expenses. Generally that involves the lender giving you a credit (or negative points) which cover things like title fees, appraisal, credit, etc. Only thing you ...
by ChiKid24
Thu Mar 05, 2020 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Is buying a rental property even worth it?
Replies: 58
Views: 4469

Re: Is buying a rental property even worth it?

Lots of comments here about not wanting to be a landlord or have a side job. As a real estate INVESTOR, nor do I. I run the numbers on all my investments assuming a % of gross rent to cover a management team who handles the landlord aspect of it. To me, that cost of business is a fair trade off to ...
by ChiKid24
Thu Mar 05, 2020 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is buying a rental property even worth it?
Replies: 58
Views: 4469

Re: Is buying a rental property even worth it?

Lots of comments here about not wanting to be a landlord or have a side job. As a real estate INVESTOR, nor do I. I run the numbers on all my investments assuming a % of gross rent to cover a management team who handles the landlord aspect of it. To me, that cost of business is a fair trade off to k...
by ChiKid24
Fri Feb 28, 2020 2:38 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

I'm not sure I understand. Can you explain more? If you put it into a money market fund, you should have little or no earnings or loses. Conversion should be smoother and less of an headache. Given this is long-term retirement account, I like to put it to work right away so don't really want it sit...
by ChiKid24
Fri Feb 28, 2020 1:45 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

Just curious, why don't you designate to contribute to a MM fund? I'm not sure I understand. Can you explain more? If you put it into a money market fund, you should have little or no earnings or loses. Conversion should be smoother and less of an headache. Given this is long-term retirement accoun...
by ChiKid24
Fri Feb 28, 2020 12:45 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

Yes, my plan does not treat it this way and I've talked to many others at large companies and they also do not (using losses to offset gains). The plan provider tracks two things, the amount converted and the amount that was taxable. The amount converted is obvious, it sums your conversions for the...
by ChiKid24
Fri Feb 28, 2020 12:24 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

home_body wrote: Fri Feb 28, 2020 12:20 pm Just curious, why don't you designate to contribute to a MM fund?
I'm not sure I understand. Can you explain more?
by ChiKid24
Fri Feb 28, 2020 11:54 am
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

This is plan specific. There are plans that do not offset losses with gains. You need to find someone at your plan who can authoritatively answer this question for your specific plan. Hmmmm....this seems really strange. Why would tax treatment vary depending on the plan? Have you personally been in...
by ChiKid24
Thu Feb 27, 2020 11:45 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

Re: After tax in plan roth conversion..loss?

Thanks, that's what I was hoping. Seems to be the most fair/ logical position. Some people told me I get no benefit from the loss which didn't make sense to me.
by ChiKid24
Thu Feb 27, 2020 10:57 pm
Forum: Personal Investments
Topic: After tax in plan roth conversion..loss?
Replies: 15
Views: 614

After tax in plan roth conversion..loss?

So my company provides for in-plan roth conversions. Since I'm in a higher tax bracket I max out pre-tax at $19.5k, but then contribute after tax to do back door mega roth. I do this by calling Fidelity every month or so to convert. Sadly my company has not automated this feature. Given there is a s...
by ChiKid24
Thu Feb 27, 2020 10:48 pm
Forum: Personal Investments
Topic: Yuck... RSU's vested today. So much for the grand spending plans. But the taxes seem astronomic.
Replies: 17
Views: 1876

Re: Yuck... RSU's vested today. So much for the grand spending plans. But the taxes seem astronomic.

Three siliver lining points for you to try to lessen the blow: 1) You pay ordinary income tax on the amount when it vests. The fact that the market is down means the vested amount was less so less tax. 2) Since your plan is to reinvest according to your AA, you're buying back in at a lower price the...
by ChiKid24
Tue Feb 25, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Help me with mortgage math, please
Replies: 33
Views: 1555

Re: Help me with mortgage math, please

As the title indicates, I'm struggling to keep my math straight here. Just want a double check. Here is a brief recap of our mortgage: Origination date: March 2018 Home Purchase Price: $294,000 Down Payment: $58,800 Original Loan Amount: $235,200 Mortgage Rate 4.25% Original Monthly Payment: $1157....
by ChiKid24
Sat Feb 22, 2020 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Take the Equity or Rent
Replies: 19
Views: 1189

Re: Take the Equity or Rent

If you're going to include speculative appreciation, then you'd also need to include the chance that the value could drop as well. Real estate doesn't always go up. Good real estate investors generally evaluate properties based on cash flow, with any appreciation being an added cherry on top if it h...
by ChiKid24
Sat Feb 22, 2020 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Take the Equity or Rent
Replies: 19
Views: 1189

Re: Take the Equity or Rent

I was in a similar situation and decided to sell. For me it came down to a return on equity analysis. You say it's appreciated $500k and your mortgage is low. So that means your equity is $500k plus the difference between what you paid and the $140k mortgage. I'm not sure what that number is but let...
by ChiKid24
Fri Feb 21, 2020 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1609
Views: 149652

Re: My LenderFi refinance is going well

Rates continue to improve. Recommend people check out Lenderfi if they are looking to refi. I'm in process and now looking at no cost 30 year at 3.25%. Lender credit covers all closing costs and appraisal was waived. Nobody else came close to that unless I move a bunch of money. You mind providing ...
by ChiKid24
Fri Feb 21, 2020 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: My LenderFi refinance is going well
Replies: 1609
Views: 149652

Re: My LenderFi refinance is going well

Rates continue to improve. Recommend people check out Lenderfi if they are looking to refi. I'm in process and now looking at no cost 30 year at 3.25%. Lender credit covers all closing costs and appraisal was waived. Nobody else came close to that unless I move a bunch of money.
by ChiKid24
Thu Feb 20, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Experience w/LenderFi's Rate Insurance Program???
Replies: 32
Views: 2999

Re: Experience w/LenderFi's Rate Insurance Program???

Going through a refi with them now so am also curious about this feature and whether anyone has actually gotten the benefit of it. Given where rates are now there are probably people who did a refi with them last year who could qualify.
by ChiKid24
Thu Feb 13, 2020 3:04 pm
Forum: Personal Investments
Topic: Any Reason to Wait?
Replies: 16
Views: 2434

Re: Any Reason to Wait?

An IRA by definition is meant to be used in retirement. At age 23, you are 30+ years away from retirement. So for me, it's about comparing the long-term rate of the market (7-10% depending on your investment) to the long-term rate of cash/savings (0-2.5% depending on where you hold it). If you don't...
by ChiKid24
Wed Feb 12, 2020 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Another re-finance question - 30 yr fixed at 3.25% or 3.125%?
Replies: 10
Views: 1438

Re: Another re-finance question - 30 yr fixed at 3.25% or 3.125%?

Started process mid-January when rates were higher. Went with lenderfi.com, locked, then applied with better.com and asked them to match lenderfi's Loan Estimate with Better Price Guarantee (beat by $1,000). Since then, rates have dropped, so would have had 3.0% instead of 3.25% with similar lender...
by ChiKid24
Sun Feb 09, 2020 6:45 pm
Forum: Investing - Theory, News & General
Topic: choosing Mega Backdoor Roth over Backdoor Roth
Replies: 12
Views: 1011

Re: choosing Mega Backdoor Roth over Backdoor Roth

If the only negative to the mega is potential taxes on 180 days of gain, I'd say that's pretty minimal. Besides the market may actually decline in which case you'd have no taxable gains upon conversion, though I'm not certain if you get any tax benefit from a loss. I've got a mega through my company...
by ChiKid24
Fri Feb 07, 2020 7:46 pm
Forum: Investing - Theory, News & General
Topic: It's all about accumulating shares?
Replies: 71
Views: 6674

Re: It's all about accumulating shares?

+1 to "sequence of returns". Basic concept is if you consistently invest and have a long-term time horizon, then yes a bear market is a good thing as you accumulate more shares for the same amount invested. The market is "on sale". Key is you need to consistently invest in up mar...
by ChiKid24
Thu Feb 06, 2020 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage would you choose here
Replies: 12
Views: 1003

Re: Which mortgage would you choose here

Can I ask what bank is offering 3.125% on a 30-year fixed? That seems well below market. Are there a ton of upfront costs associated with it? Any need to move assets to get a "relationship" discount?
by ChiKid24
Mon Feb 03, 2020 7:38 pm
Forum: Personal Investments
Topic: Pension and what to do with it
Replies: 5
Views: 1201

Re: Pension and what to do with it

I had a pension from an old employer. It was defined contribution plan. When I left I rolled it over directly into an IRA at Fidelity. No tax impact or penalties for doing this. My reasons for the rollover, as opposed to keeping it in the pension, were as follows: 1) I control the funds and how I wa...
by ChiKid24
Sat Feb 01, 2020 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: 3 RSU events...how to handle
Replies: 14
Views: 1012

Re: 3 RSU events...how to handle

The value of the stock at vesting will be treated as ordinary income. Most companies withhold taxes by taking out some shares. So if 100 shares vest they'll give you 80 as an example and use the 20 to cover taxes. When you sell the stock you will have capital gain or loss. So if you sell them close ...
by ChiKid24
Mon Jan 20, 2020 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Disadvantages to making my m-i-l taxable acct as a joint acct?
Replies: 10
Views: 1138

Re: Disadvantages to making my m-i-l taxable acct as a joint acct?

Generally not a good idea to add a joint account owner. I almost learned this hard way. A few other additional concerns, though more disadvantageous to her than you: 1) Assuming she is the only one contributing assets to the new joint account there could be a gift tax implication. Essentially she is...
by ChiKid24
Fri Jan 17, 2020 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Finding a good tax advisor
Replies: 3
Views: 397

Finding a good tax advisor

Hi all. I'm in the market for a tax advisor and curious how bogleheads approach the manner. Historically I've done my own taxes on Turbo Tax, but I've read about so many different tax planning ideas on this forum that I think it's time to enlist a porfessional. Can I get your thoughts on the below q...
by ChiKid24
Wed Jan 15, 2020 2:24 pm
Forum: US Chapters
Topic: New Orange County, CA Local Chapter established
Replies: 89
Views: 16331

Re: New Orange County, CA Local Chapter established

Hey all. Just joined the group. Sorry I was unable to meet you all in person last week. We've got two little ones at home so it's tough to get away. It sounds like you guys have discussed area networking / useful connections in your meetings. Was curious if tax advisors came up? I'm new to the OC an...
by ChiKid24
Tue Jan 14, 2020 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Ditch Wealthfront?
Replies: 13
Views: 2138

Re: Ditch Wealthfront?

Also, given that they switch between 2 or 3 equivalent funds in each category, I'd like to think that they are pretty careful about wash sales. Here's what they say about that: I think the wash sale concern is when you get into the stock-level tax loss harvesting at WF. This usually becomes availab...
by ChiKid24
Tue Jan 07, 2020 5:37 pm
Forum: Investing - Theory, News & General
Topic: How is your "number" defined?
Replies: 143
Views: 11644

Re: How is your "number" defined?

Curious on the 25-50x or 2-4% withdrawal rate and how taxes play into the picture. All assets are not created equal. Some will pay LTCG tax, some will pay ordinary income tax, some will pay no tax on Roth assets. So If my annual expenses are say $100k (using after tax money), wouldn't I need to do 2...
by ChiKid24
Tue Jan 07, 2020 5:37 pm
Forum: Investing - Theory, News & General
Topic: How is your "number" defined?
Replies: 143
Views: 11644

Re: How is your "number" defined?

Curious on the 25-50x or 2-4% withdrawal rate and how taxes play into the picture. All assets are not created equal. Some will pay LTCG tax, some will pay ordinary income tax, some will pay no tax on Roth assets. So If my annual expenses are say $100k (using after tax money), wouldn't I need to do 2...
by ChiKid24
Tue Jan 07, 2020 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Adding Mother-in-law to joint account?
Replies: 23
Views: 1926

Re: Adding Mother-in-law to joint account?

Hi all. OP here. Thanks so much for your thoughts on this. You definitely brought up a bunch of things I hadn't considered and I'm going to consult with a lawyer before moving forward on anything. That said, I think it would be helpful to provide a few more facts on the situation to provide a more c...
by ChiKid24
Mon Jan 06, 2020 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Adding Mother-in-law to joint account?
Replies: 23
Views: 1926

Adding Mother-in-law to joint account?

My mother-in-law is looking to buy a new condo in a 55+ retirement community. The monthly HOA is pricey ($500+) and as such there are strict income/asset qualifications she must meet to be approved to purchase in the community. Essentially she needs to show assets equal to the purchase price of the ...
by ChiKid24
Fri Nov 01, 2019 6:10 pm
Forum: Personal Investments
Topic: Refinance to 15 yr fixed?
Replies: 16
Views: 1513

Re: Refinance to 15 yr fixed?

Current refinance rate for 15 year fixed: 2.875% Curious where you are getting this 15 year rate? I thought rates bounced a bit back up from their recent low. I also live and work in California and have a 30-year at 3.5%, so very similar fact pattern as you. I got a quote from LoanFlight Lending a ...
by ChiKid24
Fri Nov 01, 2019 5:53 pm
Forum: Personal Investments
Topic: Refinance to 15 yr fixed?
Replies: 16
Views: 1513

Re: Refinance to 15 yr fixed?

wildcat123 wrote: Fri Nov 01, 2019 4:38 pm
Current refinance rate for 15 year fixed: 2.875%
Curious where you are getting this 15 year rate? I thought rates bounced a bit back up from their recent low. I also live and work in California and have a 30-year at 3.5%, so very similar fact pattern as you.
by ChiKid24
Fri Oct 04, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Side income ideas for a non-lawyer JD holder?
Replies: 30
Views: 2374

Re: Side income ideas for a non-lawyer JD holder?

Do you have any interests that you can tie to the side hustle? If so, that's what I'd focus on, rather than the fact that you have a JD. I've found that things that interest me can also earn income. And if I like what I'm doing, it's easy to do more of it and increase the income. Then eventually my ...
by ChiKid24
Thu Sep 19, 2019 5:54 pm
Forum: Personal Investments
Topic: Investing in an apt complex through a real estate equity firm
Replies: 40
Views: 2831

Re: Investing in an apt complex through a real estate equity firm

I actually don't have a problem with investing in syndicated real estate deals. I see it as a form of diversification away from equity and bond markets. We're willing to tie up capital in stocks and bonds for 5+ years, why is real estate as an asset any different? Many people buy rental properties t...
by ChiKid24
Fri Aug 09, 2019 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 689
Views: 100961

Re: Relationship mortgage discounts for moving a million assets

This thread is great, so adding some recent information for SoCal market. Here are discounts I've seen from two of the big banks: Wells Fargo offering 1/8% discount for every $250k in assets transferred, up to $1m (.5% discount) Citi actually shows a schedule of their relationship pricing here: http...