Search found 372 matches

by retire57
Sat Jul 08, 2017 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off loan or not
Replies: 10
Views: 1341

Re: Paying off loan or not

Where you are wrong with your thinking is the belief that even a 10-year term is OK. It's not. The opportunity cost alone is horrible. With your salary, you could pay that debt off in 2 years - easy. Just avoid lifestyle inflation and you can be free in 24 short months. This is fair enough. My plan...
by retire57
Sat Jul 08, 2017 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Paying off loan or not
Replies: 10
Views: 1341

Re: Paying off loan or not

Where you are wrong with your thinking is the belief that even a 10-year term is OK. It's not. The opportunity cost alone is horrible.

With your salary, you could pay that debt off in 2 years - easy. Just avoid lifestyle inflation and you can be free in 24 short months.
by retire57
Sat Jul 08, 2017 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Financial check up/Am I ready to buy a house?
Replies: 12
Views: 1176

Re: Financial check up/Am I ready to buy a house?

If you do buy a house, you won't have any questions about what to do with your cash flow - it will go toward home expenses. Homeownership entails much much more $ than the mortgage payment.

Pay off your debt first to free-up more $ for repairs and maintenance. Because there is a lot of that.
by retire57
Sat Jul 01, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc says I can retire. Should I ?
Replies: 19
Views: 4707

Re: FIREcalc says I can retire. Should I ?

delamer wrote:Do you have a COBRA option that would cover at least some of the pre-Medicare period?
We have an interim COBRA plan now, but it's still $900/month for us 2 healthy early-sixties folks. Makes you look forward to 65!
by retire57
Sat Jul 01, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can't find houses less than 3.3x income. Can we afford it?
Replies: 40
Views: 5394

Re: Can't find houses less than 3.3x income. Can we afford it?

Not to be a buzzkill, but .... you're going to need a lot of surplus $ to purchase things you may not own (lawnmower, leaf blower, fireplace tools, guestroom furniture) and services you are not accustomed to (pest control, plumber, electrician). Just saying you need a healthy cash reserve that you w...
by retire57
Sat Jul 01, 2017 5:54 pm
Forum: Investing - Help with Personal Investments
Topic: New to Investing. $25,000 to Invest.
Replies: 20
Views: 2672

Re: New to Investing. $25,000 to Invest.

I would state take care of your debt. The car loan at 4.5% will kill your profits in your investments. After you pay the car you will have even more money to invest monthly. Agreed. Pay off that car debt immediately for a guaranteed return. Then you'll be in great shape, with even more $ to invest ...
by retire57
Fri Jun 30, 2017 2:49 pm
Forum: Investing - Help with Personal Investments
Topic: New to Investing. $25,000 to Invest.
Replies: 20
Views: 2672

Re: New to Investing. $25,000 to Invest.

Debt?

How stable is your job? A cash cushion of 3-6 months living expenses will save you should you become unemployed.

With no debt and a cash cushion, investing it all is a good idea. And good for you for being so careful with your financial decisions at such a young age!
by retire57
Sat Jun 24, 2017 4:20 pm
Forum: Investing - Theory, News & General
Topic: Anyone have a habit of checking the market all day?
Replies: 38
Views: 3520

Re: Anyone have a habit of checking the market all day?

Maybe its because Im a young investor but I find myself checking the market everyday once it opens and periodically throughout the day. I get excited when it goes even by pennies and upset when it goes down.. I have a 3 fund and I really should be taking a set it and forget it approach.. Or at leas...
by retire57
Fri Jun 23, 2017 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: I need a strategy to address debt and savings
Replies: 38
Views: 5554

Re: I need a strategy to address debt and savings

You first priority should be to get that match, because it is "free money." If you start contributing enough to the 401(k) to get the full match, that will cost you about $2000/year after taxes because you are in the 25% federal bracket. (It will be even less if you pay state income tax.). That wil...
by retire57
Fri Jun 23, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 69
Views: 10004

Re: Can you share some of your financial goals?

Every January I make a table listing savings goals. One column is for the budgeted amount and another is for goal progress. Right now the items in the table include completing my Roth contributions for the year. Next up is setting aside 1% of my portfolio in cash to use for miscellaneous expenses e....
by retire57
Fri Jun 23, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirement - what to do about healthcare?
Replies: 228
Views: 34004

Re: Early Retirement - what to do about healthcare?

We were able to continue on DH's employee plan (BC/BS) at a cost of $900/month for both of us. He 62, me 57. Might you have that option?
by retire57
Sun Jun 18, 2017 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: So sick of it! [Paying off student loans]
Replies: 42
Views: 8503

Re: So sick of it! [Paying off student loans]

1. Pay it off tomorrow.
2. Have a big celebration with your family.
3. Enjoy your new and improved cash flow
by retire57
Sun Jun 18, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Confused by USAA insurance statement
Replies: 5
Views: 1098

Re: Confused by USAA insurance statement

It is needlessly confusing. We have to go to each individual policy account online and look at each balance in order to keep track. I wish the website was more user-friendly. My credit card company makes it simple. Why can't USAA?
by retire57
Sun Jun 18, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement checkup for 38 year old
Replies: 21
Views: 4053

Re: Early retirement checkup for 38 year old

Very impressive! The rosy picture will be even rosier if you can manage to get rid of your mortgage in 5 years instead of 7. Ditto the car payment and, of course, avoiding any additional debt.

You can always work part-time if needed.

Thanks for your years of service.
by retire57
Fri Jun 16, 2017 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: AA with a pension
Replies: 15
Views: 2345

Re: AA with a pension

Will health insurance be deducted from your penion income until you are eligible for SS? Ours is - and the premiums are 60% of DH's net. And we are taxed by the feds for the entire amount.
by retire57
Wed Jun 14, 2017 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Do You Take Your Credit Card Receipts?
Replies: 85
Views: 9322

Re: Do You Take Your Credit Card Receipts?

Usually. Never know when I'll need to return something. I also save receipts I'll want to itemize later in Quicken to more accurately track expenses.
by retire57
Wed Jun 14, 2017 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: The Average Mortgage?
Replies: 15
Views: 1724

Re: The Average Mortgage?

Even better by Thomas Stanley (author of "Millionaire Next Door") is "Stop Acting Rich". Also based upon research. Amazing on what and how much people spend in a bid to appear affluent.
by retire57
Tue Jun 13, 2017 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing and Taxable Account
Replies: 15
Views: 1790

Re: Rebalancing and Taxable Account

livesoft wrote:If I have $10,000 invested in equity funds and they pay me $300, then I will have $9700 in equity funds and $300 in cash. See how the equity funds got knocked back by $300?

If I put that $300 into bond funds, then isn't that an act of rebalancing?
Got it, livesoft. Thanks for the context!
by retire57
Tue Jun 13, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing and Taxable Account
Replies: 15
Views: 1790

Re: Rebalancing and Taxable Account

2.) Should I bite the bullet and reallocate in my taxable account? What have you been doing with the dividends in the taxable account? They help knock down the value of equity funds by 2% to 3% every year, so could go into tax-exempt bond funds in taxable or they can be spent. The June dividends wi...
by retire57
Tue Jun 13, 2017 2:25 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with 18k in Cash?
Replies: 19
Views: 2393

Re: What to do with 18k in Cash?

Pay off the car asap and funnel the money the car has been costing you to your Roth.
by retire57
Sun Jun 11, 2017 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your Savings?
Replies: 24
Views: 4441

Re: Where do you keep your Savings?

WoodSpinner wrote:
retire57 wrote:Wow, that's complicated. We have all savings in one MM account and use Quicken to keep track of how the money is earmarked, e.g. taxes, travel, charity etc ....

Keeping it simple works best for us.
How do you do this in Quivken?

TIA
I use Savings Goals, found under the Planning tab.
by retire57
Sat Jun 10, 2017 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your Savings?
Replies: 24
Views: 4441

Re: Where do you keep your Savings?

Wow, that's complicated. We have all savings in one MM account and use Quicken to keep track of how the money is earmarked, e.g. taxes, travel, charity etc ....

Keeping it simple works best for us.
by retire57
Sat Jun 10, 2017 8:58 am
Forum: Personal Finance (Not Investing)
Topic: (Very) Early Retirement vs Parenthood
Replies: 74
Views: 7222

Re: (Very) Early Retirement vs Parenthood

DH and I decided early in our 34-year-and-counting marriage that we weren't interested in being parents. Our decision wasn't based on money, but the financial implications have been enormous. Despite never being high-wage earners, we are enjoying a very comfortable retirement much earlier than would...
by retire57
Fri Jun 09, 2017 1:09 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3295
Views: 995798

Re: What Book Are You Currently Reading? Part VI

The Unbanking of America: How the New Middle Class Survives by Lisa Servon. Published January 2017.
by retire57
Thu Jun 08, 2017 10:17 am
Forum: Investing - Theory, News & General
Topic: Retirees: What are you doing about withdrawing?
Replies: 31
Views: 5707

Re: Retirees: What are you doing about withdrawing?

2beachcombers wrote:Retired 17 yr. Only withdraw dividends from taxable account.
Ability to do this was waiting till 70 for SS, Pension and controlling expenses

jerry
Same here. Retired 1.5 years with 2 pensions, pre-SS.
by retire57
Wed Jun 07, 2017 8:06 am
Forum: Personal Consumer Issues
Topic: How to buy another car key?
Replies: 16
Views: 2716

Re: How to buy another car key?

This happened to us and the dealer paid to have the Toyota dealer make a duplicate.
by retire57
Mon Jun 05, 2017 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

Re: USAA's New (Irritating) Security Protocol

Are you auto downloading on Quicken for Mac? I'm using Quicken for Mac 2017. Try to change your USAA Quicken connection type to "Direct Connect". I have several USAA accounts and use 2FA and I never have to enter a pin on Quicken . Bart Quicken 2016 for Windows. I've tried to change the connection ...
by retire57
Mon Jun 05, 2017 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

Re: USAA's New (Irritating) Security Protocol

Also as a reminder to everyone, if you do not adhere to the cyber security policies of your financial institutions then you are not covered for losses in the event a criminal gains access to your accounts. That goes for banks, investment firms, credit cards, ect Not sure this an acurate statement. ...
by retire57
Mon Jun 05, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

Re: USAA's New (Irritating) Security Protocol

Also as a reminder to everyone, if you do not adhere to the cyber security policies of your financial institutions then you are not covered for losses in the event a criminal gains access to your accounts. That goes for banks, investment firms, credit cards, ect Not sure this an acurate statement. ...
by retire57
Mon Jun 05, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

Re: USAA's New (Irritating) Security Protocol

Hockey10 wrote:
tylerherman wrote:Not going to go look at the site but they should give you an option to save your device (get a cookie). If they don't, ask for that.
I just checked the Security page on the USAA website. They do offer the option described above.
Excellent! I'll see if that takes care of it. Thanks.
by retire57
Mon Jun 05, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

Re: USAA's New (Irritating) Security Protocol

Doesn't happen for me. Both the mobile app and website have used a 4-digit PIN for a long time but I'm not getting pressed to confirm my credentials beyond that. Likewise here - username/password then PIN on the next page = entry. That's odd. The new security process began on May 25th. And no, not ...
by retire57
Mon Jun 05, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: USAA's New (Irritating) Security Protocol
Replies: 19
Views: 3239

USAA's New (Irritating) Security Protocol

USAA has implemented a two-factor identification system that is a real headache. Every day we must wait to receive a 6-digit code to be sent via email, text, or phone in order to update our USAA checking account balance in Quicken. This is a one-use code, which means that every single time you want ...
by retire57
Thu Jun 01, 2017 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: Objectively assess my situation
Replies: 20
Views: 2024

Re: Objectively assess my situation

How old are you? You probably have plenty of time to bounce back from any unwise decisions (which we all make). And you have done a lot of things right!

Regret is tough, but life is for learning, and no doubt you will do things differently next time.
by retire57
Thu Jun 01, 2017 5:03 pm
Forum: Investing - Theory, News & General
Topic: Dealing with Impatience reaching financial goals
Replies: 36
Views: 5793

Re: Dealing with Impatience reaching financial goals

Rather than looking at just your bottom line or just your ROI, start tracking the number of shares you are accumulating - whether through contributions or dividend reinvestment. Maybe, like me, you will find patience there.
by retire57
Thu Jun 01, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 516
Views: 76065

Re: Quicken's future direction - a cause for concern

Is everyone (on 2016) getting those pop-ups when you start Quicken asking you to upgrade? It is annoying. I keep unchecking the remind me later box and they still come about every 2 or 3 times I start Quicken. I have 2016 and have no intention of upgrading anytime soon. Each time makes me want to u...
by retire57
Thu Jun 01, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Drowning in debt
Replies: 52
Views: 6238

Re: Drowning in debt

You don't mention your income or living expenses. Have you considered cashing out enough from your taxable for 3-6 months of living expenses (emergency fund) and going scorched-earth to pay off the HELOC? How long would that take? Should you need another car, buy a junker until you get out of debt. ...
by retire57
Wed May 31, 2017 1:37 pm
Forum: Investing - Theory, News & General
Topic: Does anyone treat taxable as a "someday fund"?
Replies: 86
Views: 8351

Re: Does anyone treat taxable as a "someday fund"?

mortfree wrote:..
my taxable account is labeled "I have no idea what I'm going to use this money for but I like watching it grow."

..
+1 :D
by retire57
Tue May 30, 2017 7:46 am
Forum: Personal Consumer Issues
Topic: Do I deserve it? [A new car]
Replies: 69
Views: 7565

Re: Do I deserve it?

Not so much a question of "deserving", but "affording". You've done the smart math and know the true cost of a new car. Hefty, long-term car payments will delay financial independence, which you are well on your way to achieving.

Buy used and drive for 10 or more years.
by retire57
Sun May 28, 2017 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Not Another Payoff The Mortgage Thread....
Replies: 38
Views: 5324

Re: Not Another Payoff The Mortgage Thread....

Agree that this is less about math and more about how badly you want to be free of debt.
by retire57
Sat May 27, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Pay off car loan?
Replies: 17
Views: 2157

Re: Pay off car loan?

JGoneRiding wrote:Don't pay it off! Instead go into work the day after the loan to mom and dad is paid and increase your 401k with holding! Repeat in 9 mos when the car lon is gone! Then you will never even miss the difference
+1
by retire57
Thu May 25, 2017 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Arrived at milestone - what should be my next step?
Replies: 14
Views: 1916

Re: Arrived at milestone - what should be my next step?

Even if spouse is a big Dave Ramsey fan (me too for certain aspects) my understanding of his steps are: 1) Small emergency fund 2) Pay off all debt except mortgage 3) 6 months emergency fund 4) Retirement funds, college funds, and then start paying off mortgage. As far as I know he doesn't recommen...
by retire57
Sat May 20, 2017 1:40 pm
Forum: Personal Consumer Issues
Topic: What are your priorities for retirement?
Replies: 56
Views: 6988

Re: What are your priorities for retirement?

1. Stay healthy.

2. Continue traveling 4-6 months a year in my camper until someone takes my keys away.

3. Increase our charitable donations.

4. Volunteer.
by retire57
Sat May 20, 2017 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Automatic Reinvestment: To "check" or not to "check" (the box) . . that is the question?
Replies: 52
Views: 5781

Re: Automatic Reinvestment: To "check" or not to "check" (the box) . . that is the question?

This thread has me wondering ...

We sell $600/month from a taxable mutual fund to supplement our pensions and my very part-time work. Coincidentally, dividends from our taxable mutual fund acounts add up to to about 8K/yr. Should we be supplementing from dividends versus selling shares?
by retire57
Fri May 19, 2017 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: I'm having a freak-out moment (portfolio question)
Replies: 24
Views: 3238

Re: I'm having a freak-out moment (portfolio question)

The only thing you should be freaking out about is not having an emergency fund.
by retire57
Fri May 19, 2017 11:27 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Give?
Replies: 8
Views: 1092

Re: How Best to Give?

You don't itemize so the only concern from your standpoint is really how much, and how your gifts impact your cash flow. From the charity's standpoint, a regular, dependable contribution is more valuable than an unplanned for lump sum. They have to manage their cash flow, too. re: Amazon, ask the c...
by retire57
Fri May 19, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: How Best to Give?
Replies: 8
Views: 1092

How Best to Give?

Is it best to donate to a charity with one lump sum (say, a check at the end of the year), in monthly increments, or through Amazon? Our charity has a 'supplies needs' list on Amazon. By best , I mean for both the charity and ourselves. We don't itemize at this point. Note: when SS kicks in to give ...
by retire57
Thu May 18, 2017 4:01 pm
Forum: Investing - Theory, News & General
Topic: For those with $500k-$1m in investments...
Replies: 138
Views: 16548

Re: For those with $500k-$1m in investments...

Age 59, semi-retired. 52% taxable due to inheritance.
by retire57
Sun May 14, 2017 4:45 pm
Forum: Investing - Theory, News & General
Topic: Donor-Advised Fund and Portfolio
Replies: 5
Views: 712

Donor-Advised Fund and Portfolio

Do you consider your DAF investments as part of your asset allocation?
by retire57
Fri May 12, 2017 8:50 pm
Forum: Personal Consumer Issues
Topic: Cars: Expense or Asset?
Replies: 84
Views: 6844

Re: Cars: Expense or Asset?

Technically an asset. We update the value each January to reflect depreciation.