Search found 35 matches

by Coiled_Snake
Sat Jan 31, 2015 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to respond when someone asks how much money you make?
Replies: 107
Views: 39288

Re: How to respond when someone asks how much money you make

I am honest.
The amount of lying and deception here is not cool.
by Coiled_Snake
Fri Jan 23, 2015 3:13 am
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 2324

Thanks

Thank you for sharing those details. That is excellent news given the circumstances.
by Coiled_Snake
Fri Jan 23, 2015 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 2324

Terrible ? but...How hard is it to receive life ins payout?

My wife and I finally have life insurance policies. She got nervous and asked me "What do I do if you die to get the money?"
Not to be too irreverent, but has anyone here gone through the process? Is it as simple as a phone call to the agent/company?
Is there any long drawn-out procedure or is it pretty straightforward?

And, for the record, we love each other. :twisted: :moneybag :shock:
by Coiled_Snake
Tue Jan 06, 2015 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: How Many Credit Cards do you have?
Replies: 101
Views: 1253619

Just wondering

Where's the option for zero?
by Coiled_Snake
Mon Jan 05, 2015 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to break up with an advisor
Replies: 33
Views: 5159

Re: How to break up with an advisor

You seem like a very nice person.

That said, you used much more detail than I would have.

But you have nothing to be guilty about. Congrats on your freedom.

"Life is like a box of chocolates."
by Coiled_Snake
Mon Jan 05, 2015 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

Re: Almost made it! From $ -530k net worth to $-9k this yr

bkh8 wrote: So did you decide to just pay down your low interest loans first before investing in a taxable account or did you put money in a taxable account?
Yes, I did. After maxing all the tax-advantaged I knew about, I learned about a bit more space available but finally went full-throttle on the student loans and avoided putting money in a taxable account.

Whether that was the "right" decision, I still am not sure. Seeking advice to that question was the reason I came here in the first place and also consulted with Eric Tyson (Dummies author).
by Coiled_Snake
Sat Jan 03, 2015 1:13 am
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

Re: Almost made it! From $ -530k net worth to $-9k this yr

MathWizard wrote:If you increased net worth by $521K, you had to use $521K to do it.
Surely, MathMan, you understand that I didn't have to spend $1 to earn $1. Investments did some of the lifting too. As well as free employer money.
Our family of six has lived in a 500 square foot dry cabin with total expenses of ~$500 per month. But then, we were paid more than that by the state.

My numbers are what they are.
by Coiled_Snake
Fri Jan 02, 2015 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Help with spouse and finances (read: lots of debt)
Replies: 110
Views: 20432

Happy New Year.

It's a new year, right?
I am glad you got out of an abusive relationship.
You seem to have been doing things responsibly for years; you will reap the fruit of that this year.
by Coiled_Snake
Fri Jan 02, 2015 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

Re: Almost made it! From $ -530k net worth to $-9k this yr

can you elaborate a bit on your situation? Was this all in 2014? or when did you have negative $0.5M net worth? How did you reach that level of debt? Student loans? What was your income the last 5 years? What is your occupation? This all occurred from Jan 1 to Dec 31, 2014. Debt occurred from student loans, negative value on mortgage that I sold at a significant loss, and automobile. Income the last 5 years? 125, 125, 125, 125, 500. Physician. Never knew a thing about investing at all before last Christmas. Got a Dummies book at Barnes & Noble and was directed here. Our goal was simply to cut ties with our house, live a spartan lifestyle, pay off the student loans, and understand what we were doing with our money. We are extreme novice...
by Coiled_Snake
Wed Dec 31, 2014 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

That makes total sense.

I have treated them separate to this point based on the time horizon.
What an honor to have you comment, Mel.

James, I don't feel "worth"-y to really give advice yet. Maybe next year. Haha.
But I did move several thousand miles, quadrupled my income, sold a house, read a lot of books and spent lots on time on a couple websites.
Oh, and paid down $300k in student loans. Almost forgot about that part.
The investment accounts were just a small part. But next year...
by Coiled_Snake
Wed Dec 31, 2014 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

Ahh, thanks.

I had not seen it described that way.
Makes sense.

Do you include it as part of your asset allocation portfolio also?
by Coiled_Snake
Wed Dec 31, 2014 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Almost made it! From $ -530k net worth to $-9k this yr
Replies: 36
Views: 8659

Almost made it! From $ -530k net worth to $-9k this yr

I guess I will have to wait one more week.
If only I had started earlier than April...
Huge thanks to all the Bogleheads here who got me on the path this year. Especially mucho (daily) help from WCI.

So happy that I asked and you all responded.

*By the way, you don't count 529s in net wealth, right? That would sneak me right over to the positive side.

*Also, does anyone have a recommendation for online estate attorney? Is that legal?
by Coiled_Snake
Thu Dec 18, 2014 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Where to find the cheapest mortgage?
Replies: 30
Views: 8563

Quicken

I can't say it is the cheapest but we used Quicken and they are professional and quick. They do throw in lots of silly little goodies at closing too.
by Coiled_Snake
Mon Aug 11, 2014 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help with massive debt repayment
Replies: 27
Views: 3798

Re: Help with massive debt repayment

I hear ya.
Paying off $200k myself.
Something not mentioned yet, it appears that you went with a house on the large side. You may want to evaluate all of your spending habits because your family looks to be putting on the pretense of more money than you have.
by Coiled_Snake
Tue Jul 22, 2014 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: 35K maximum retirement contribution a year for a person?
Replies: 16
Views: 2004

Re: 35K maximum retirement contribution a year for a person?

It is a requirement to be a high income earner to contribute to our 457. That means more than the figure you stated. But it could be different for you. Good luck.
by Coiled_Snake
Tue Jul 08, 2014 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 22575

Re: List of Worst financial advice (what not to do):

This is gold. Thank you so much.

sambb, your #3 caused drinks to be sprayed across the table. :o

This list is going to get laminated and prominently displayed.
by Coiled_Snake
Tue Jul 08, 2014 6:48 pm
Forum: US Chapters
Topic: Anchorage, Alaska Local Chapter
Replies: 2
Views: 2033

Re: Anchorage, Alaska Local Chapter

Has this happened?
by Coiled_Snake
Tue Jul 08, 2014 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 22575

List of Worst financial advice (what not to do):

I am new to this board and every day I am excited to share something new I learned here with my wife (and now my children are listening). My wife asked to make a list to put on the refrigerator <for guests to see...they seem to really like to read what we have up> of the "worst financial advice" according to Bogleheads. This is not sarcasm; she is serious but we need some help.

Suggestions? House, school, consumer debt on credit cards, financial adviser fees, whole life insurance, market timing ...
by Coiled_Snake
Tue Jun 03, 2014 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Help with the backdoor Roth, please
Replies: 8
Views: 1102

Re: Help with the backdoor Roth, please

JW Nearly Retired wrote: a tIRA or a rollover IRA (which are really the same thing)
That is exactly what I was confused about. My wife's old employer 401k was moved to this new IRA. But I couldn't distinguish between traditional and rollover.

I still don't really see the easy thing to do though. How do I best separate the old 401k from this year's contribution since they are now together?
by Coiled_Snake
Tue Jun 03, 2014 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Help with the backdoor Roth, please
Replies: 8
Views: 1102

Help with the backdoor Roth, please

I am wondering if we screwed up the opportunity to get my wife a backdoor Roth this year.

Did a 401k rollover from old employer to a new Vanguard rollover IRA and contributed the max limit last month.

Can you help me out how to go about doing this the "right" way so that I can open a traditional IRA and do the backdoor Roth?

Thanks!
by Coiled_Snake
Fri May 30, 2014 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Advice much appreciated!

Thank you all so much for the information, data, and personal sway.

I wanted to let you know that I was led to this site after reading the Dummies series by Eric Tyson and I just received this email directly from him:
"Will answer this (without revealing your name of course) on my website and in my syndicated newspaper column."

Tyson's advice is respected here, right? Anyways, I look forward to seeing what he says and how closely it jives with what ya'll have said!
<I am not a troll trying to promote him^ by the way>
by Coiled_Snake
Thu May 29, 2014 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

Great point!

Yes, it definitely is forgiven if I die.
by Coiled_Snake
Thu May 29, 2014 6:04 pm
Forum: US Chapters
Topic: Seattle Chapter?
Replies: 122
Views: 28282

Re: Seattle Chapter Dead....

Are there membership dues?
I just joined here yesterday.
by Coiled_Snake
Thu May 29, 2014 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

So many numbers... So many differing views.

1. Pay it off
2. Don't touch it
3. Go middle ground
4. Let it pay itself off

My wife is laughing at me as I pull my hair out.
Are there some "core tenets" that Bogleheads agree upon financially? I need to start from the beginning because ya'll obviously view money differently than I had thought about it (which is enlightening and great). Thanks!
by Coiled_Snake
Thu May 29, 2014 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

You made lots of sense, hunter.

I feel like I have a solid emergency fund and there will be no new tuition bills for the next ten years. We have everything we need.

The main thing I am trying to determine is: Do I lose any massive compounding benefits anywhere by just taking the next 12 months paying off the 200k, learning more about investing, and beginning next April full force? My wife and I continue to flip-flop on the numbers and "getting out of debt" vs increasing taxable income account.

The "get out of debt" carrot along with the high income was why we left our idyllic situation and "sacrificed" to come to BFE. But now we are second-guessing before we begin putting down the big bucks.
by Coiled_Snake
Thu May 29, 2014 12:16 am
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

Yes I am.
This payoff benefit weighs into the decision.
The loan forgiveness is at 10 years (120 payments)...not 20.
by Coiled_Snake
Wed May 28, 2014 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

your figures are right on, jimb.
So what does it mean? :?:
by Coiled_Snake
Wed May 28, 2014 9:07 pm
Forum: Personal Consumer Issues
Topic: Moving to Alaska
Replies: 19
Views: 3549

Where?

Which village are you coming to?
No, there is no specialty equipment except excellent mittens (NOT gloves).
We enjoy it.
by Coiled_Snake
Wed May 28, 2014 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

You are correct, Lars.

The 120 payment loan forgiveness option is on the table, too. But...

Do I want to be want to be working full-time for the next 10 years? I highly doubt it. The goal is move on to a different location in about three years. We have wanderlust and travel the world.

We are not going to buy a home again. We pick up and move too much.

Those numbers , jimb, just made my head explode. I did your previous thread also. I have no state tax and am 35% income bracket.
by Coiled_Snake
Wed May 28, 2014 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

ER Doc,
Yep.
I just "joined" your White Coat site. Thanks for establishing the content there!
I have a lot to learn and the options a bit dizzying.
Thanks for understanding.
by Coiled_Snake
Wed May 28, 2014 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

Wizard has exactly explained what my math brain is telling me... *sigh*
So it really just comes down to getting a higher return than 2%?
I could pay off the 200k in the next 4 quarters but also want to try my hand at letting investments work for me. I am absolutely novice at this.
by Coiled_Snake
Wed May 28, 2014 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Re: Pay off huge student loan vs Investing

Thank you for the wiki link, danwhite.

There does not seem to be consensus on this topic. I am glad that I wasn't missing something obvious to make it an easy decision.

Great name, Caduceus! :mrgreen:
by Coiled_Snake
Wed May 28, 2014 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: 1 Year Bogleheadiversary - Before and After Picture
Replies: 70
Views: 16143

Re: 1 Year Bogleheadiversary - Before and After Picture

Ahhhhh!!! This is EXACTLY what I needed to see. Just joined the club one year behind you! THANK YOU. I have lots to learn... didn't understand one-third of the figures you were describing. Thanks for the reading list.

And I just posted a question about whether to pay off student loans or not. :oops:
by Coiled_Snake
Wed May 28, 2014 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 7992

Pay off huge student loan vs Investing

Brand-new to this board and to trying to get out of debt in general. Everything I have read online so far directs me here, so here is my initial go: New job in new location has tripled income to a point where investing/taxes have to be a priority for my family (married/4 kids). Up to this point we have spent all excess money traveling the world/vacationing. We have maxed 401k, 457, HSA contributions for the year and have several 529 plans. No consumer debt and we just sold our "dream home" with the move. One debt remains: $200 000 student loan locked at 2%. Monthly payments at $350. Is it better to pay this down now with paychecks or to invest into index funds and then repay it back quarterly/yearly with assumed earnings? I have s...