Search found 1984 matches

by FelixTheCat
Wed Jun 13, 2012 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: advice on school loans - please help!
Replies: 16
Views: 1488

Re: advice on school loans - please help!

The student loans are your wife's. Do not add your name (co-signer) to the loans. I've seen to many stories where a relationship turns sour and the spouse is now responsible for debt they didn't incur. Simply help your wife pay her debt by making the minimum payment. I would increase your emergency ...
by FelixTheCat
Wed Jun 13, 2012 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Seller won't provide property disclosure form???
Replies: 39
Views: 5528

Re: Seller won't provide property disclosure form???

In CA we are required to disclose issues. It sounds like the seller is paying $500 to hide some issues.
by FelixTheCat
Tue Jun 12, 2012 3:28 pm
Forum: Personal Investments
Topic: Inherited $250K...What's the "smart" move? I need your help!
Replies: 27
Views: 3952

Re: Inherited $250K...What's the "smart" move? I need your h

Let me provide some insight into marriage and finances. I married a great woman, succeeded in my career, had a child and comingled our assets into a family trust. The marriage went sour. I never kicked myself for what I thought was right but looking back I would do things differently. 1. Never comin...
by FelixTheCat
Tue Jun 12, 2012 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: New job or accept counter offer at old?
Replies: 33
Views: 4433

Re: New job or accept counter offer at old?

The new company is offering 15% more (for less work) after your current employer upped your base.

What ever you decide to do, continue to live on the 63K and invest the raise.
by FelixTheCat
Tue Jun 12, 2012 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Would you invest in real estate with a family member?
Replies: 35
Views: 3935

Re: Would you invest in real estate with a family member?

Think of how your relationship would be if your family didn't hold up to their end of the arrangement. i.e. Not paying bills, not helping with maintenance, etc.

I would never invest with family or friends.
by FelixTheCat
Mon Jun 04, 2012 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 507
Views: 143708

Re: Anyone regret paying off mortgage early?

I love having my house paid off early. I have no worries about what will happen to me IF I ever become unemployed, sick, retired, etc.

I eliminated my largest debt and now that monthly payment goes into investments. :sharebeer Wait...it's so good I'll have another beer! :sharebeer
by FelixTheCat
Wed May 23, 2012 2:58 pm
Forum: Personal Investments
Topic: Cash heavy
Replies: 10
Views: 2071

Re: Cash heavy

I suggest buying your ibonds directly from the government. $10K per year via the website at http://treasurydirect.gov/
by FelixTheCat
Tue May 22, 2012 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Preparation for Couple with New Child - Will or Trust
Replies: 27
Views: 2449

Re: Estate Preparation for Couple with New Child - Will or T

I would suggest getting an A-B trust. Caveat: It's been a while since I did mine so I would consult with an Estate Attorney to see what's best for your family.
by FelixTheCat
Tue May 22, 2012 5:14 pm
Forum: Personal Consumer Issues
Topic: New Car Advice Please
Replies: 19
Views: 1947

Re: New Car Advice Please

I'm 6'2" and was surprised that a Nissan Altima fit me. I checked several "Best Used Cars under 10K" articles and they recommended the car. http://www.vehix.com/articles/top-10-list/top-10-used-cars-under-10000/9 http://news.consumerreports.org/cars/2012/01/best-deals-on-used-vehicles...
by FelixTheCat
Mon May 21, 2012 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Short-Term Disability Insurance Worth It?
Replies: 21
Views: 9813

Re: Short-Term Disability Insurance Worth It?

No insurance is worth it ... until you need it. :D Here's some factoids "According to the Council for Disability Awareness, 3 in 10 people entering the workforce today will become disabled before retiring. Also, 1 in 7 people can expect to be disabled for five years or more before retirement. S...
by FelixTheCat
Mon May 21, 2012 5:48 pm
Forum: Personal Consumer Issues
Topic: Advice for work issue for a friend
Replies: 25
Views: 2584

Re: Advice for work issue for a friend

What is the point of pursuing this further? There were a "string of ... violations that eventually resulted in her firing." Maybe your friend was unhappy at her employment, it resulted in her work and the company noticed.

I would move on.
by FelixTheCat
Thu May 17, 2012 11:52 am
Forum: Personal Consumer Issues
Topic: Verizon or AT&T - for smartphone
Replies: 11
Views: 1618

Re: Verizon or AT&T - for smartphone

I have an iphone at Verizon. Both the phone and service is fantastic.
by FelixTheCat
Wed May 16, 2012 1:54 pm
Forum: Personal Investments
Topic: For all you older guys/gals close to retirement: Any advice?
Replies: 35
Views: 3965

Re: For all you older guys/gals close to retirement: Any adv

If I had to do it over again....
  • Save a minimum of 20% of my income from day 1. More if you could afford.
  • Live within my means (no credit card)
  • Make sure about the one you marry because divorce is a wealth killer.
  • Never fry bacon naked. :D
by FelixTheCat
Wed May 16, 2012 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Who Do You Use for Home/Auto Insurance?
Replies: 53
Views: 7892

Re: Who Do You Use for Home/Auto Insurance?

State Farm. The interesting thing is I've tried to switch to other insurance agencies mention on this thread but they couldn't beat State Farm's prices for the same level of insurance.
by FelixTheCat
Tue May 15, 2012 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Money and in-laws (Part 2): Cosign a loan?
Replies: 54
Views: 5957

Re: Money and in-laws (Part 2): Cosign a loan?

I would never cosign a loan.

You do know that you are responsible for the loan if the orginator defaults when you cosign. Are you willing take take on your family's debt as your own?
by FelixTheCat
Thu May 10, 2012 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding on what to cut from our budget?
Replies: 33
Views: 6199

Re: Deciding on what to cut from our budget?

I would break down my budget into needs and wants. For example, you need a house, food, gas/electricity, clothing. You want Cable, Internet, Cell Phones, Eating out, Vacations, Starbucks.

Then start trimming from the WANT section.
by FelixTheCat
Wed May 09, 2012 11:46 am
Forum: Personal Investments
Topic: I Bond Inflation Rate Adjustment
Replies: 4
Views: 753

Re: I Bond Inflation Rate Adjustment

Thanks!
by FelixTheCat
Wed May 09, 2012 11:42 am
Forum: Personal Investments
Topic: I Bond Inflation Rate Adjustment
Replies: 4
Views: 753

I Bond Inflation Rate Adjustment

This is my first individual bond and I am trying to learn. :D I purchase an I Bond in April where the Fixed Rate is 0 and the Inflation Rate is 3.06%. I purchased an I Bond in May where the Inflation Rate adjusted to 2.20%. My understanding is the Inflation Rate adjusts every May and November. I loo...
by FelixTheCat
Thu May 03, 2012 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Re: What stops you from retiring today?
Replies: 100
Views: 9632

Re: What stops you from retiring today?

My ex-wife. Divorce is a killer on the finances.
by FelixTheCat
Wed Apr 25, 2012 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer of property to spouse
Replies: 14
Views: 1697

Re: Transfer of property to spouse

I am a little lost. Are you parents married or on the verge of divorce? A huge red flag for me was "They (parents) are not on very good terms, and he will only continue sending her money if she signs over the property of the vacant house to him" I would tell Mom 1. I would not transfer the...
by FelixTheCat
Wed Apr 25, 2012 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult mother financially
Replies: 65
Views: 5970

Re: Helping adult mother financially

I would distance myself if someone kept asking over and over "Give me money." Since you want to retain a relationship with parents, I would always respond with "Let me teach you about budgeting." Maybe you can show them how to use Mint.com to budget and track their finances. Best...
by FelixTheCat
Tue Apr 24, 2012 5:45 pm
Forum: Personal Investments
Topic: Emergency Fund in Tax-Advantaged
Replies: 19
Views: 2050

Re: Emergency Fund in Tax-Advantaged

I follow the Boglehead Multi-Tier emergency fund http://www.bogleheads.org/wiki/Emergency_fund
by FelixTheCat
Mon Apr 23, 2012 11:49 am
Forum: Investing - Theory, News & General
Topic: Lesser of two evils: House or cash for kids ???
Replies: 62
Views: 4371

Re: Lesser of two evils: House or cash for kids ???

I believe in teach a man to fish philosophy. How are you teaching your children to become productive adults? My parents would give me advice and a very small amount of cash from time-to-time. They told me at a very young age that if I wanted money then I would have to earn it. I've had my jobs where...
by FelixTheCat
Thu Apr 19, 2012 11:41 am
Forum: Investing - Theory, News & General
Topic: Is catch-up a smart move?
Replies: 32
Views: 2670

Re: Is catch-up a smart move?

+1 for Frugal Al
by FelixTheCat
Tue Apr 17, 2012 11:24 am
Forum: Personal Investments
Topic: Smartest Financial Move You Ever Made
Replies: 139
Views: 20580

Re: Smartest Financial Move You Ever Made

If I had to pick only one move, I would say paying off my house. I know a few people that lost their homes and/or getting laid off. I have the peace of mind that I will always have a roof over my head.

The secondary benefit is taking my mortgage payment and investing it each month.
by FelixTheCat
Mon Apr 16, 2012 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on selling my house.
Replies: 4
Views: 795

Re: Thoughts on selling my house.

Simple things such as a coat of paint, carpet cleaning, a nice well-groomed yard go a long way.
by FelixTheCat
Mon Apr 16, 2012 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Report questions
Replies: 9
Views: 974

Re: Credit Report questions

You can get a free credit "mock score" at Credit Karma. The score is supposed to be a replica of your FICO score.
by FelixTheCat
Mon Apr 16, 2012 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Your Dumbest Financial Move
Replies: 166
Views: 19034

Re: Your Dumbest Financial Move

My dumbest move was getting married without a prenup. :oops: She said she didn't care about my money when we met. :D Live and learn.
by FelixTheCat
Mon Apr 16, 2012 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Just need to share this
Replies: 53
Views: 5065

Re: Just need to share this

This is fantastic news. Congratulations!
by FelixTheCat
Mon Apr 09, 2012 11:39 am
Forum: Personal Consumer Issues
Topic: Should I Submit Homeowners Claim?
Replies: 21
Views: 2408

Re: Should I Submit Homeowners Claim?

Call your insurance agent. My agent tells me how claims will affect my policies.
by FelixTheCat
Mon Apr 09, 2012 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Insurance for Rental Property
Replies: 5
Views: 999

Re: Insurance for Rental Property

I have State Farm. Off the top-of-my-head, my rate goes up around 3% per year.
by FelixTheCat
Thu Mar 22, 2012 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off your mortgage in our situation?
Replies: 23
Views: 2721

Re: Would you pay off your mortgage in our situation?

I paid off my mortgage and it was the best thing I ever did. I never have to worry about a place to live no matter what happens ~ the emotional freedom is priceless. The money I used to pay to mortgage company now goes directly into investments.
by FelixTheCat
Thu Mar 22, 2012 3:53 pm
Forum: Personal Investments
Topic: Question about my house
Replies: 21
Views: 2229

Re: Question about my house

Divorce is a difficult thing emotionally and financially. The great news is you sound fine and it will get better with time.

The house sounds like it is still a great value. I would stay there if you can afford the monthly costs. If you need some help, a roommate could help offset the costs.
by FelixTheCat
Mon Mar 19, 2012 12:37 pm
Forum: Investing - Theory, News & General
Topic: Should I glide from 70/30 to 50/50 ?
Replies: 34
Views: 3751

Re: Should I glide from 70/30 to 50/50 ?

After getting slaughtered in the last big market drop, I figured I was too risky. I understand the Boglehead buy-and-hold philosophy but my sleep pattern was severly effected. I looked at https://personal.vanguard.com/us/insights/saving-investing/model-portfolio-allocations and decided what I could ...
by FelixTheCat
Fri Mar 16, 2012 3:07 pm
Forum: Personal Investments
Topic: Emergency Fund - Best Place to Hold
Replies: 30
Views: 3906

Re: Emergency Fund - Best Place to Hold

I follow the Boglehead Mult-Tier Emergency Fund http://www.bogleheads.org/wiki/Emergency_fund

3 Months in a Online Money Market
3 Months in a 5 year CD ladder
3 Months in i-Bonds
by FelixTheCat
Fri Mar 16, 2012 2:55 pm
Forum: Personal Investments
Topic: Roth IRA Excess Contribution which year to report?
Replies: 10
Views: 7575

Re: Roth IRA Excess Contribution which year to report?

Thanks guys. I had the same issue.

Go to love those Bogleheads! :beer
by FelixTheCat
Fri Mar 16, 2012 12:54 pm
Forum: Personal Investments
Topic: Inheritance Advice
Replies: 9
Views: 1281

Re: Inheritance Advice

From the voice of experience.... No matter what you decided to do with the 200K, I would make sure the money is labeled your sole and separate property. Do not commingle the funds into an account with and your wife. Unfortunately, I commingled a premarital home. My wife took half when she left.
by FelixTheCat
Thu Mar 15, 2012 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Does your tax accountant charge $1650?
Replies: 42
Views: 5699

Re: Does your tax accountant charge $1650?

OMG! I used to pay an account because that's what my parents did. One year while I was farming out my taxes the company CPA asked why? He told me everyone he knows uses Turbo Tax. He challenged me to use it (Free without filing) and see what my results would be. My tax return is a medium complexity ...
by FelixTheCat
Thu Mar 08, 2012 6:23 pm
Forum: Investing - Theory, News & General
Topic: Question on Rebalancing and New Money
Replies: 11
Views: 1560

Re: Question on Rebalancing and New Money

I'm sure others will correct me if I am incorrect. I believe the new cash rebalancing only applies to taxable accounts. For example, Let's say your Total Stock Market fund increases in value where it is now 10% over target. Therefore, your Total International Market fund is under-weighted. You want ...
by FelixTheCat
Thu Mar 08, 2012 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Banks forgiving second mortgages
Replies: 5
Views: 1031

Re: Banks forgiving second mortgages

Thanks for the info guys.
by FelixTheCat
Thu Mar 08, 2012 1:57 pm
Forum: Personal Investments
Topic: How much for Emergency Fund?
Replies: 12
Views: 1923

Re: How much for Emergency Fund?

I have my budget in a spreadsheet which includes all of my expenses. I currently have four months of EF saved and my goal is one year.

I am allocating my EF based on http://www.bogleheads.org/wiki/Emergency_fund
by FelixTheCat
Thu Mar 08, 2012 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Banks forgiving second mortgages
Replies: 5
Views: 1031

Banks forgiving second mortgages

I know two people where the bank simply sent them a letter forgiving their secondary mortgage. The most recent one was 500K. Will the bank eventually send them a document declaring this as income to the note holder or is this simply a gift with no strings attached?
by FelixTheCat
Wed Mar 07, 2012 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance
Replies: 46
Views: 9792

Re: Umbrella insurance

I live in California. I pay $372 for a 2 million dollar umbrella at State Farm.
by FelixTheCat
Mon Mar 05, 2012 4:25 pm
Forum: Investing - Theory, News & General
Topic: My “Aha!” Moment in Investing
Replies: 94
Views: 10854

Re: My “Aha!” Moment in Investing

I remember my moment. I was a newbie to investing and decided to hire an experience professional at Dean Witter. I figured someone in the business would know a lot more than me so I trusted this person with my $$$ for five years. Each year I could muster up $2,000 to send to my professional. They to...
by FelixTheCat
Fri Mar 02, 2012 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: How do you teach your children to save?
Replies: 16
Views: 1883

Re: How do you teach your children to save?

I used to buy my daughter anything she wanted at the end of our vacations as a momento of our trip. She would usually pick something in the 40 dollar range. I read the answer to your question in Money Magazine and decided to give it a try. On another outing, I simply gave her the 40 dollars. She loo...
by FelixTheCat
Thu Mar 01, 2012 7:01 pm
Forum: Personal Consumer Issues
Topic: Vitamins and Supplements
Replies: 38
Views: 4289

Re: Vitamins and Supplements

Fish Oil ~ Yuk! I can't stand the taste nor the smell.

For those of you have a health-food store near you, you can get your Omega-3's by purchasing assorted nuts. For example, Trader Joe's has an Omega-3 version of nuts which is much tastier than fish oil.
by FelixTheCat
Wed Feb 29, 2012 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Money magazine for Bogleheads?
Replies: 35
Views: 4333

Re: Money magazine for Bogleheads?

However, it is almost useless for selecting funds for Boglehead stay-the-course investors.
Money showed me that Vanguard Total Stock, Total Bond and Total International were on the Money 70 list. That's how my accounts found there way to Vanguard.
by FelixTheCat
Tue Feb 28, 2012 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property questions
Replies: 9
Views: 1225

Re: Rental property questions

I have been using a property manager for years. Mine cost 10% of Gross Rents.
by FelixTheCat
Tue Feb 28, 2012 2:54 pm
Forum: Personal Investments
Topic: Opening First Roth IRA, Fund Help Please
Replies: 9
Views: 997

Re: Opening First Roth IRA, Fund Help Please

I also like Vanguard's LifeStrategy funds; A fund-of-funds using three index funds while keeping your asset allocation.