Search found 282 matches

by Miguelito
Sat Feb 14, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 9785

Re: College savings costs / number

I recall the early-mid 90's when tuition for my older siblings was in the 16-17k at private schools and people thought that was crazy because "just a few years earlier" tuition used to be 13k. By the time I wen to school tuition was ~20k and by the time I graduated it was in the low 20's. The idea o...
by Miguelito
Thu Feb 12, 2015 8:30 am
Forum: Personal Finance (Not Investing)
Topic: 401k Loan for house
Replies: 22
Views: 3363

Re: 401k Loan for house

We bought our first home when we were both young but had good careers ahead of us. I had to get money from wherever we could to make the 10% down payment including borrowing a few thousand from my 401k. 8 years later, we bought our new home while still trying to sell the old one (that was stressful)...
by Miguelito
Tue Feb 10, 2015 9:23 pm
Forum: Personal Investments
Topic: A few questions on taxable account
Replies: 9
Views: 1396

Re: A few questions on taxable account

Thanks guys!
by Miguelito
Tue Feb 10, 2015 11:55 am
Forum: Personal Investments
Topic: A few questions on taxable account
Replies: 9
Views: 1396

Re: A few questions on taxable account

If you are using Fidelity for all your investments, you probably want your taxable investments in stock, not municipal bonds, as Fidelity's municipal-bond funds have higher expenses than the Spartan taxable bond and stock indexes. Conversely, if you do want to hold munis, it may be worth holding Va...
by Miguelito
Mon Feb 09, 2015 7:41 pm
Forum: Personal Investments
Topic: A few questions on taxable account
Replies: 9
Views: 1396

Re: A few questions on taxable account

Thanks Dale. I suspected that was the case.
by Miguelito
Mon Feb 09, 2015 4:54 pm
Forum: Personal Investments
Topic: A few questions on taxable account
Replies: 9
Views: 1396

A few questions on taxable account

Opening a Taxable account. I have a few questions... 1) Vanguard or Fidelity? I have no accounts with Vanguard but have Roths and 529s with Fidelity. I like Fidelity - I have local offices. I was wondering though, given that I will likely want Vanguard funds, should I have my one taxable account wit...
by Miguelito
Sat Jan 31, 2015 6:00 pm
Forum: Personal Investments
Topic: Help with Investments
Replies: 2
Views: 306

Re: Help with Investments

Divide the 70K equity portion between a Total Stock Market and Total International fund according to your preference. Put the 30k destined for bonds into an Intermediate Term Municipal bond fund. Adjust your tax deferred holdings to so that your overall allocation is where you want it to be. It is ...
by Miguelito
Sat Jan 31, 2015 5:38 pm
Forum: Personal Investments
Topic: Help with Investments
Replies: 2
Views: 306

Help with Investments

Hello, I'd like your advice on what to do with one of our retirement accounts as well as starting a taxable investment account - but if you see something else that needs to be addressed, please let me know! I'd greatly appreciate feedback. How do we invest the 100k in a taxable account? Trying to be...
by Miguelito
Wed Jul 23, 2014 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Hw many credit cards to own?
Replies: 123
Views: 84689

Re: Hw many credit cards to own?

1) AMEX Blue Cash - Default card for everything 2) Capital One VISA - for international purchases and alternate for whenever AMEX is not accepted. I also have one store card because of the great rewards, and I carry my corporate AMEX for business travel/expenses, but that's not really "mine." So rea...
by Miguelito
Wed Jul 09, 2014 11:00 am
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

OP - here is what we did. First, of course, know your goals. I have a retirement age goal (the age I can get my pension, which is 57). DH will retire at the same time. Second - build an elaborate spreadsheet that tracks/projects savings, growth of portfolio, and expenses out from today until we are...
by Miguelito
Wed Jul 09, 2014 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Made a Mistake by Maxing out 401k - Need Advice
Replies: 16
Views: 4532

Re: Made a Mistake by Maxing out 401k - Need Advice

To my knowledge, there is nothing you can do about this. Often the new employer does not let you contribute to the 401(k) until after a specified time period anyways. This. This of no help, but just curiosity, why would you have already maxed out the 401k? You probably would want to dollar-cost ave...
by Miguelito
Wed Jul 09, 2014 7:22 am
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

Okay, my apologies, I did misunderstand -- I was under the impression that it was your goal to retire at 50 and that retirement accounts would fund your way. I have found that retirement accounts are limited in how much you can stuff in there, and I think most early retirements require quite a bit ...
by Miguelito
Wed Jul 09, 2014 6:26 am
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

OP, how are you managing to have enough in 401k and IRA to retire at 50 with 2 and possibly a 3rd child? Maybe I misunderstood. First, let me be clear, we have no desire to retire at 50. But if health or other reasons forced us (likely only one of us, but let's play along with both of us), I think ...
by Miguelito
Tue Jul 08, 2014 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

The point is not to steal from your future -- but you don't have to deprive yourself from all pleasures for the sake of saving more and more. Well, that's the key. I feel we are well on track (technically ahead). Yes, we have 20-30+ years until retirement and a lot can happen. But we are healthy pe...
by Miguelito
Tue Jul 08, 2014 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

This is how I do it. I have a goal of being able to retire at age 55 and be able to spend $X/yr. To reach that goal, I need to save $Y/yr. Whatever is left over goes to expenses and enjoying life. I'm flexible in when I retire, but I know I need to have my ducks in a row sooner rather than later be...
by Miguelito
Tue Jul 08, 2014 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

Thanks for the feedback. On the personal side, we both have good jobs (one of us very well compensated). My strategy has always been to budget our lifestyle not on what we make but rather on what we would make with typical jobs in our profession. For one of us it would mean a 10% pay cut, for the ot...
by Miguelito
Tue Jul 08, 2014 10:57 am
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

Re: When do you "limit" saving and start to spend more?

bhsince87 wrote:Only you and your spouse can answer that question.
I wasn't looking for an answer to my personal situation. I want to hear about how other people see it.
by Miguelito
Tue Jul 08, 2014 10:26 am
Forum: Personal Finance (Not Investing)
Topic: When do you "limit" saving and start to spend more?
Replies: 39
Views: 5286

When do you "limit" saving and start to spend more?

I know, I know. This subject is taboo here, but still, I'd like to know the collective opinion on this. I suspect for most (myself included - at least for now) "saving" means saving for retirement/college/etc. And to get out of debt, have a mortgage well in control, and put some money away for retir...
by Miguelito
Tue Jul 08, 2014 8:58 am
Forum: Personal Finance (Not Investing)
Topic: POLL: How Old is Your Newest Motor Vehicle? -- REVISED
Replies: 51
Views: 5119

Re: POLL: How Old is Your Newest Motor Vehicle? -- REVISED

1) New SUV that I expect to keep for a long time. 2) 7-yo Nice, sporty compact bought used 3) 7-yo Premium sportscar bought used with high miles. In general I buy cars at really good deals and take really good care of them (also mechanically inclined so I fix and service them myself) so my cost of o...
by Miguelito
Mon Jul 07, 2014 7:38 am
Forum: Personal Finance (Not Investing)
Topic: ? "caution" section on backdoor Roth wiki
Replies: 25
Views: 6593

Re: ? "caution" section on backdoor Roth wiki

I managed to shove IRA from my previous employer (401k rollover) into my new employer's 401k. I would have preferred not to since our 401k is so limited in choices, but they are very low cost, diversified choices and ultimately it was a very good move. By moving the pre-tax IRA funds into my current...
by Miguelito
Tue Jun 24, 2014 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Is Medical School Worth it Financially?
Replies: 66
Views: 8882

Re: Is Medical School Worth it Financially?

There are some pretty high engineering salaries being thrown around even assuming expensive areas. $100k for a seasoned engineer (10+ years)? Sure. Maybe even $125k for a very experienced engineer in a good sized company. To automatically throw $175k around or even $300-400k, is not realistic. It's ...
by Miguelito
Mon Jun 23, 2014 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Goal Calculation
Replies: 31
Views: 5970

Re: Retirement Goal Calculation

35 yo here also. For planning purposes, I assume our house will be paid for but will continue living in it indefinitely (despite being bigger than we would need). I also figure our projected SS benefits and use only 75% of that (since that is all we are projected to have if SS doesn't get fixed) I u...
by Miguelito
Mon Jun 16, 2014 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Income at 15% bracket and thoughts on Roth vs. traditional
Replies: 1
Views: 522

Income at 15% bracket and thoughts on Roth vs. traditional

Being 35 and not really planning on retiring until 60+, I like to play with retirement scenarios. We max our 401k's, which are the majority of our retirement funding. We also do the backdoor Roth and I just started doing the after-tax 401k to Roth conversion (limited by plan). I wondered how much mo...
by Miguelito
Mon Mar 10, 2014 7:54 pm
Forum: Personal Consumer Issues
Topic: Used $35k Porsche on $64k income?
Replies: 95
Views: 10336

Re: Used $35k Porsche on $64k income?

Here's my view on it - and I am a fellow Porsche/BMW guy... To me owning a nicer car than needed is all about 3 things: 1) cost of ownership (to an extent, because there is the whole thing about the time value of money). Meaning, the purchase price is one thing, but if you use it for three years and...
by Miguelito
Sun Mar 09, 2014 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: 401 match (poll)
Replies: 33
Views: 2907

Re: 401 match (poll)

4.5% match (don't recall if it's 1 to 1 or 50%, but I always contribute enough to get it all). The company also offer a 3% basic contribution. So in total, I get 7.5%. However, that basic 3% contribution is only for those whose age + years of service is 50 or less. 51-60 gets you 4%, and 61-70 gets ...
by Miguelito
Sun Mar 09, 2014 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Re: Tax-advantaged retirement accounts seem to be enough

Thanks to everyone for the feedback. Like I said, we are currently doing quite well and have several tens of thousands to save in addition to 401k/Roth. But that lofty level of income could go down to ~250k at any moment and likely stay there indefinitely (adjusted for inflation). As a result, if th...
by Miguelito
Sat Mar 08, 2014 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Re: Tax-advantaged retirement accounts seem to be enough

For lack of a better fortune teller, here's Rick Ferri's estimate on 30 year forward looking real returns: http://www.rickferri.com/blog/investments/portfolio-solutions-30-year-market-forecast/ I'd say 4% real return is a moderate assumption -- not conservative, not aggressive. Hmmm... Well, I'll u...
by Miguelito
Sat Mar 08, 2014 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Re: Tax-advantaged retirement accounts seem to be enough

Sounds good. But, I wonder what you're really looking for or trying to justify here? If tax advantaged account contributing will get you to and through retirement, you are saving for college for the kids, you will have the home paid off, and you guys make good money, it sounds like you should have ...
by Miguelito
Sat Mar 08, 2014 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Re: Tax-advantaged retirement accounts seem to be enough

I agree with Nebster's last point - your assertion seems to be based on retiring at a traditional retirement age. You may want to retire early, which may require more than maxing out tax-advantaged accounts and paying off your mortgage. You are in an income tier that won't qualify for any financial...
by Miguelito
Sat Mar 08, 2014 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Re: Tax-advantaged retirement accounts seem to be enough

Thanks, -I said 500k+. Retirement balance is ~700k (600k in 401k and 100k in Roth) -144k/a year was my estimate for a veru nice retirement. We could be very happy with under 100k. All these estimates assume we keep our current home and its 12k/year in property taxes, which of course we don't have to...
by Miguelito
Fri Mar 07, 2014 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Joint or Separate Accounts? - Married Couples
Replies: 82
Views: 7215

Re: Joint or Separate Accounts? - Married Couples

yatesd wrote:We combined everything right away...didn't even give it a thought. Both names on just about any asset/liability unless it was simply more convenient to just use one. 21 years and counting...
Same here. We were both young and broke when we got married, so why bother keeping things separate.
by Miguelito
Fri Mar 07, 2014 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Tax-advantaged retirement accounts seem to be enough
Replies: 15
Views: 2320

Tax-advantaged retirement accounts seem to be enough

I’ll start this off by mentioning that I understand that I am very fortunate to have a good financial situation and it doesn't apply to the vast majority of Americans. The Basics: -Wife and I work and we have two kids. We are both salaried. -No debt except for mortgage ($600k, 15-year @ 3% fixed), a...