Search found 358 matches

by financial.freedom
Fri Apr 24, 2015 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage loan would you choose (recast or not)?
Replies: 22
Views: 2073

Re: Which mortgage loan would you choose (recast or not)?

Actually, may take 2-3 years for 200k pay-down and recast.
by financial.freedom
Fri Apr 24, 2015 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage loan would you choose (recast or not)?
Replies: 22
Views: 2073

Re: Which mortgage loan would you choose (recast or not)?

Thank you for the reply. The recast is an option at any time AFTER 90 days. I think we could come up with another 200k in the next one year for the WF loan. We'd have lower monthly payments after the recast, and the remaining 1M would all have tax-deductible interest. However, we'd miss out on the 5...
by financial.freedom
Fri Apr 24, 2015 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage loan would you choose (recast or not)?
Replies: 22
Views: 2073

Which mortgage loan would you choose (recast or not)?

LOAN 1: CHASE If you choose to pay your mortgage automatically from a Chase checking account, Chase will give you $500/year. This is not reflected in the APR – this is a big benefit for you. Please review details here: https://www.chase.com/chf/mortgage/mortgage-cash-back Loan program: 30 years fix...
by financial.freedom
Fri Apr 24, 2015 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best home mortgage lenders?
Replies: 37
Views: 8815

Re: Best home mortgage lenders?

We locked in a jumbo 30-year fixed with zero points at Wells Fargo for 3.625% (90 day lock).

There is also option to "recast" down the road (>90days) without any fee.

Seems pretty good to me, what do you think?
by financial.freedom
Thu Apr 23, 2015 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Best home mortgage lenders?
Replies: 37
Views: 8815

Re: Best home mortgage lenders?

That was my impression too (didn't know it was 30-day period though). Thanks!
by financial.freedom
Thu Apr 23, 2015 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Best home mortgage lenders?
Replies: 37
Views: 8815

Re: Best home mortgage lenders?

Great advice, thank you!

Since there will be "hard pulls" should we limit the number of places we apply to? Maybe try 2 banks, 1 credit union and 2-3 online?

How and when in the process did you schedule the "lock" for the rate?
by financial.freedom
Tue Apr 21, 2015 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Best home mortgage lenders?
Replies: 37
Views: 8815

Best home mortgage lenders?

We are in South Bay area (LA County) and looking to buy a home with >20% down and mortgage of about 1 M. We have an approval letter from a local bank. But I think we can get a better rate elsewhere. 1. Which lenders are best right now? 2. Any recommendations specifically for jumbo loans? 3. How many...
by financial.freedom
Thu Apr 16, 2015 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house without AC?
Replies: 60
Views: 6492

Re: Would you buy 1.5 M house without AC?

Thank you for the replies! We have decided this feature is not enough to deter us. Appreciate all of the great advice and experience from others without AC and those who live/have lived in the SB area.
by financial.freedom
Thu Apr 16, 2015 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house without AC?
Replies: 60
Views: 6492

Would you buy a house without AC?

We live in HCOL area where most homes at lower end of the spectrum are 1.2 -1.7 M. We are renting but thinking of putting in an offer for a home in South Bay (LA County, CA) that has no central heating/AC. Is there anyone on this board who lives in a temperate area and the homes do not have AC? Anyo...
by financial.freedom
Thu Apr 09, 2015 2:57 am
Forum: Personal Finance (Not Investing)
Topic: How do I calculate mortgage interest phaseout?
Replies: 2
Views: 585

How do I calculate mortgage interest phaseout?

We are renting but thinking of buying a home with a mortgage loan of 1M (which appears to be the maximum loan for which interest can be deducted). However, our AGI is ~800k per year so some of the interest will be "phased out" in terms of deduction. How do we calculate the amount phased out? Let's a...
by financial.freedom
Sat Apr 04, 2015 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much home mortgage interest/equity can be deducted?
Replies: 1
Views: 833

How much home mortgage interest/equity can be deducted?

Our income is 800k/yr and we are thinking of buying a home for 1.5 M in HCOL area with 300-400k down. We are renting currently, so not sure of the tax consequences. 1. Is interest on 1M mortgage the maximum that can be deducted? 2. I've read that an add'l 100k home equity interest can be deducted (b...
by financial.freedom
Sat Mar 21, 2015 10:10 pm
Forum: Investing - Help with Personal Investments
Topic: Should I use 529, taxable, or both to pay for college?
Replies: 3
Views: 815

Should I use 529, taxable, or both to pay for college?

We have a child who has about 15 years until college. Our state has no tax deduction for 529. Our tax bracket is 39.5% federal and about 10% state. Since we can choose any state, we decided NY 529 for the low ER VG funds. However, I have seen some on the forum suggest gifting appreciated shares from...
by financial.freedom
Thu Mar 12, 2015 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation/basis for rental?

The replies are in fact helpful, thank you. Great idea to keep it under rental status even when listed for sale. Could probably even do this in a subtle way that most buyers would not know about, such as uncommon rental listing paper, take a picture of the home with a sign in front that says "for re...
by financial.freedom
Tue Mar 10, 2015 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation/basis for rental?

I called a CPA and was told that all of the depreciation can be claimed at the time of sale. Think I read this on the IRS website, but will look into it some more.
by financial.freedom
Tue Mar 10, 2015 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation/basis for rental?

[/quote] Keep in mind that you can only go back three years to file an amended return. So technically, regardless if you have taken the depreciation or not on those earlier years, they need to be taken into account when you sell the property. That's the whole 'Allowed or allowable' idea. The idea is...
by financial.freedom
Tue Mar 10, 2015 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation/basis for rental?

No kidding, I wish... The situation is complicated but we did not depreciate after purchase several years ago. These are our options: 1. Depreciate for 2014. Sell in 2015. We would have one year of depreciation to deduct from our taxes and a loss from the sale that can be carried over for several ye...
by financial.freedom
Tue Mar 10, 2015 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation/basis for rental?

1. 250k was the original purchase price. 2. The data on the state tax assessment website does not account for the decreased value of the home since purchase several years ago. 3. We did not depreciate the home in years past. My understanding is that because we did not depreciate it in the past, when...
by financial.freedom
Mon Mar 09, 2015 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

Re: How do I calculate depreciation for rental?

We purchased a few years back but this is the first year we are planning to use depreciation on the home. Purchase price was 250k and became a rental right away. It has dropped a lot in value as you can tell by the estimates above. No major improvements. So I think you are saying the math should be ...
by financial.freedom
Mon Mar 09, 2015 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Should I use both Turbotax and TaxACT?
Replies: 8
Views: 1494

Re: Should I use both Turbotax and TaxACT?

Thank you for the replies! Very helpful. Yes, looks as though Premier is the correct version for our situation using TT.
by financial.freedom
Mon Mar 09, 2015 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: How do I calculate depreciation/basis for rental?
Replies: 38
Views: 4237

How do I calculate depreciation/basis for rental?

We have a single-family home as a rental property. When I look at the state taxation website the most recent data is from 2013: Land: 50k Improvements: 100k Total: 200k Original purchase price: 250k After reading the IRS website, I think our basis is: (100k / 200k) x 250k = 125k Am I doing the math ...
by financial.freedom
Sun Mar 08, 2015 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Should I use both Turbotax and TaxACT?
Replies: 8
Views: 1494

Should I use both Turbotax and TaxACT?

About 5 years ago I did taxes on paper, just picking up forms from the public library. Then our tax situation became more complicated and we started using H&R Block. However, the fees went up every year and last year we paid $400. This year I want to tackle taxes with help from a software program. W...
by financial.freedom
Sat Feb 21, 2015 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Tenants won't let us show the rental: what do we do?
Replies: 60
Views: 12662

Re: Tenants won't let us show the rental: what do we do?

Thank you for the replies. Management met with the tenants and seems they are unlikely to cooperate. We did not have the lawyer write a letter; we decided it is less of a headache to wait until the end of the lease to put the home back on the market.
by financial.freedom
Fri Feb 20, 2015 11:53 pm
Forum: Investing - Help with Personal Investments
Topic: How do I clear the way for Roth IRA?
Replies: 3
Views: 971

How do I clear the way for Roth IRA?

My wife started a new job with 401k that accepts IRA rollovers. She has tIRA at Vanguard that consists of funds rolled from a prior employer 401k several years ago, and a few years of after-tax contributions. Let's say 30k in the tIRA is from her old job and 20k is after-tax contributions. 1. The 30...
by financial.freedom
Sun Feb 15, 2015 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tenants won't let us show the rental: what do we do?
Replies: 60
Views: 12662

Re: Tenants won't let us show the rental: what do we do?

Thank you for all of the replies! The home is located in Maryland. We decided to not include any money or 'kickbacks' as they are requesting. We are having a lawyer from the property management company send them a letter this week to inform them of the process and legalities regarding showing the ho...
by financial.freedom
Sat Feb 14, 2015 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Tenants won't let us show the rental: what do we do?
Replies: 60
Views: 12662

Tenants won't let us show the rental: what do we do?

We have a rental property (single family home) in another state that is too far away for us to manage, so we are selling it. The current tenants have a lease until the end of June. We have potential buyers who might like the property as a rental, however the tenants wouldn't let us show it. After th...
by financial.freedom
Fri Feb 13, 2015 1:52 am
Forum: Investing - Theory, News & General
Topic: What is the BH consensus on international bonds?
Replies: 54
Views: 7063

What is the BH consensus on international bonds?

When I login to VG, there is an analysis of my portfolio that states: consider: Adding some currency-hedged, foreign bonds could potentially increase your portfolio diversification. An allocation of about 20% of your bonds in a low-cost, currency-hedged, international bond fund is a reasonable appro...
by financial.freedom
Thu Jan 22, 2015 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Should I ask for a raise? If so, how?
Replies: 11
Views: 1926

Re: Should I ask for a raise? If so, how?

Are you an employed physician? What is your current compensation plan? Straight salary? A base salary with a bonus based on wRVU number? MGMA has detailed numbers based on specialty, location, type of practice etc. it cost about 500 to 600 bucks. Your hospital recruiters may have a current copy if ...
by financial.freedom
Thu Jan 22, 2015 2:04 am
Forum: Personal Finance (Not Investing)
Topic: Should I ask for a raise? If so, how?
Replies: 11
Views: 1926

Re: Should I ask for a raise? If so, how?

Thank you for the replies! Consensus is no PowerPoint. I feel that I should have some data on hand to discuss, so maybe I can print out a few articles that include wRVU percentiles for my specialty in case they would like to review it. There is no annual review, just a two-year contract. So I need t...
by financial.freedom
Wed Jan 21, 2015 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I ask for a raise? If so, how?
Replies: 11
Views: 1926

Should I ask for a raise? If so, how?

I recently found out that my pay is one of the lowest in my group, but I am one of the top performers in terms of reviews from staff and revenue that I bring in for the group. For my job, the revenue is measured in RVUs (relative value units). My RVUs annually are consistently one of the highest in ...
by financial.freedom
Mon Dec 22, 2014 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: What % of net worth is your home?
Replies: 127
Views: 18205

Re: What % of net worth is your home?

If you mean what percentage of my net worth is home equity, the answer for me is - about 18%. If you mean is the ratio of the total value of the home to net worth, the answer is - about 26%. I think the first one is more meaningful. Thank you, I think both numbers are helpful. I think one's age is ...
by financial.freedom
Mon Dec 22, 2014 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: What % of net worth is your home?
Replies: 127
Views: 18205

What % of net worth is your home?

I'm sure this question will depend on a lot of factors, for instance: 1. HCOL area might have a higher % than someone in LCOL area. 2. Younger person (say in 30s) might focus on buying home before building up a nest egg, so might have higher % net worth in the home. The reason I ask is that we could...
by financial.freedom
Wed Dec 17, 2014 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: HCOL/work longer vs. LCOL/early retirement?
Replies: 6
Views: 1065

Re: HCOL/work longer vs. LCOL/early retirement?

If you could be happy there, it sounds like you need to research career opportunities there. It doesn't sound like you have time to enjoy all the great things available where you live. It sounds like your child will not see much of you. If you really love your life now, then your decision is made. ...
by financial.freedom
Wed Dec 17, 2014 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: HCOL/work longer vs. LCOL/early retirement?
Replies: 6
Views: 1065

Re: HCOL/work longer vs. LCOL/early retirement?

My recommendation would be to review your hierarchy of values. What values would each area be fulfilling? Right now DW is in the military, so we don't have a choice. However as soon as she gets out (in the next couple of years) it will be a very easy decision to move back to our families. We are in...
by financial.freedom
Wed Dec 17, 2014 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: HCOL/work longer vs. LCOL/early retirement?
Replies: 6
Views: 1065

Re: Work longer and stay in HCOL area vs. early retirement?

How often do you go to the museums, the theater, the concerts? Are you going every week, month, a few times a year? Are the schools in the LCOL area that much inferior? How much do you like your jobs in the HCOL area? Is the HCOL area stressful in other ways (e.g. traffic, crowds)? Consider that fo...
by financial.freedom
Wed Dec 17, 2014 2:10 pm
Forum: Investing - Theory, News & General
Topic: PSA - check your reinvestment settings
Replies: 2
Views: 582

Re: PSA - check your reinvestment settings

FYI - also had to change settings back to SpecID.
by financial.freedom
Wed Dec 17, 2014 2:05 pm
Forum: Investing - Theory, News & General
Topic: PSA - check your reinvestment settings
Replies: 2
Views: 582

Re: PSA - check your reinvestment settings

Wow, I'm really grateful for this post. I recently TLH'd and sure enough they had reset it to "reinvest dividends." Just changed it back. Thanks!
by financial.freedom
Wed Dec 17, 2014 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: HCOL/work longer vs. LCOL/early retirement?
Replies: 6
Views: 1065

HCOL/work longer vs. LCOL/early retirement?

We live in a high cost of living (HCOL) area and work long hours but are paid well. We are renting and considering buying a home, however homes cost minimum 1.3 to 1.7M in our area. We could either continue renting, save/invest money for ~5-7 years then retire early or work part-time if we move to L...
by financial.freedom
Wed Dec 17, 2014 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: What is the best strategy for HSA?
Replies: 6
Views: 2247

Re: What is the best strategy for HSA?

Thank you for the replies. TIPS are not part of our IPS so maybe TSM or something similar then. They will let us choose the provider, so will start another thread for that question. Thank you again.
by financial.freedom
Tue Dec 16, 2014 7:54 pm
Forum: Investing - Help with Personal Investments
Topic: What is the best strategy for HSA?
Replies: 6
Views: 2247

What is the best strategy for HSA?

My spouse's employer is now offering a high deductible health plan (HDHP) and HSA in addition to the usual HMO and PPO. What is the best way to incorporate an HSA into our portfolio? Our tax is about 50% (about 40 fed and 10 state, rounding off for simplicity). We live in CA, so I think not deductib...
by financial.freedom
Mon Dec 15, 2014 7:47 pm
Forum: Personal Consumer Issues
Topic: Should I buy house with a crack?
Replies: 29
Views: 4161

Re: Should I buy house with a crack?

Thank you for the replies. I think we will look for another home. This home has a great view and is in an excellent location, but I also "am chicken" as Calm Man mentioned above. So best not to spend my life worrying all the time about the foundation. Thanks!
by financial.freedom
Mon Dec 15, 2014 2:13 am
Forum: Personal Consumer Issues
Topic: Should I buy house with a crack?
Replies: 29
Views: 4161

Re: Should I buy house with a crack?

In California, the seller is required to disclose all known problems with the house. Maybe they will "forget" some or haven't lived there very long, so an inspection is usually done. Have you asked the realtor what all the known problems are? Is the earth settling in different areas of the property...
by financial.freedom
Mon Dec 15, 2014 12:07 am
Forum: Personal Consumer Issues
Topic: Should I buy house with a crack?
Replies: 29
Views: 4161

Should I buy house with a crack?

We found a home in a great neighborhood with a nice view and the right size for our family. However, we noticed a crack across the living room floor extending all the way to the other side. Their agent said this common because that part of the home is a new addition since it was built. I don't know ...
by financial.freedom
Fri Nov 14, 2014 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio help: goal of early retirement
Replies: 2
Views: 725

Re: Portfolio help: goal of early retirement

Should be easily attainable, assuming that a) your incomes are stable and you are able to consistently save $200k+ each year, and b) we don't have a prolonged bear market. No one has a crystal ball for (b), but regarding (a) — how stable are your jobs? My job is stable. My wife's job will hopefully...
by financial.freedom
Fri Nov 14, 2014 1:18 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio help: goal of early retirement
Replies: 2
Views: 725

Portfolio help: goal of early retirement

Emergency funds: 6m expenses Debt: 200k school loans at 2.7% Tax Filing Status: MFJ Tax Rate: 39.6% Federal, ~10% State State of Residence: CA Age: mid 30s Desired Asset allocation: 70% stocks / 30% bonds Desired International allocation: 30% of stocks Current total portfolio size: mid six-figures C...
by financial.freedom
Thu Nov 13, 2014 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: Steps/questions for donating appreciated shares to charity
Replies: 4
Views: 501

Re: Steps/questions for donating appreciated shares to chari

Yes, I may set up DAF in the future. I apologize if the above post was confusing, I mainly want to know how it works if I donate appreciated shares from my taxable account. Let's use $1,000 LT cap gains from TSM as an example: 1. I avoid capital gains tax: 23.8% * 1,000 = $238 2. 1k is deducted from...
by financial.freedom
Thu Nov 13, 2014 10:14 pm
Forum: Investing - Help with Personal Investments
Topic: Steps/questions for donating appreciated shares to charity
Replies: 4
Views: 501

Steps/questions for donating appreciated shares to charity

I read the BH Wiki but want to clarify the steps: 1. I have to hold the shares for > 1 year. 2. Use spec ID and donate the shares purchased at the lowest price (tax lot with highest% gains). 3. Fill out the VG form listed on the BH Wiki Can someone who has done this before please verify the above an...
by financial.freedom
Sat Oct 11, 2014 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: Is this a partial or complete wash sale?
Replies: 3
Views: 609

Re: Is this a partial or complete wash sale?

These are the shares. I read Pub 550 and having trouble figuring out which shares the wash sale applies to: VTIAX TAXABLE: 10/03/2014 Buy 55.804 09/23/2014 Dividend 0.000 $0.00 $149.29 09/19/2014 Buy 42.239 09/15/2014 Buy 52.724 09/10/2014 Buy 104.420 09/04/2014 Buy 72.289 08/22/2014 Buy 83.362 08/0...