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  Topic: What do you think is the best retirement plan and where to i
oldguy

Replies: 1
Views: 282

Post image iconForum: Retirement Planning   Posted: Tue Apr 18, 2017 3:09 pm   Subject: What do you think is the best retirement plan and where to i
I used the SP500 Index Fund - mine was inside a 401k but you can use any holding account, ie, IRA, brokerage account, etc.
The longterm average SP500 return is 11%/yr, if you invest $18,000/yr, the ...
  Topic: Where to put my savings?
oldguy

Replies: 4
Views: 386

Post image iconForum: Personal Finance   Posted: Mon Apr 17, 2017 5:13 pm   Subject: Where to put my savings?
many charge certain fees for trading, similar to the fees that conventional financial advisors would charge. Any suggestions on a company with little to no fees?

I like Vanguard and Fidelity, they ...
  Topic: Where to put my savings?
oldguy

Replies: 4
Views: 386

Post image iconForum: Personal Finance   Posted: Mon Apr 17, 2017 2:52 pm   Subject: Where to put my savings?
I don't trust enough to invest it myself, so is my best move to meet with a financial advisor from a random company?

No, most of us had to educate ourselves to become wealthy. And the reason is l ...
  Topic: How to treat 149k loan
oldguy

Replies: 4
Views: 500

Post image iconForum: Personal Finance   Posted: Fri Apr 14, 2017 11:51 pm   Subject: How to treat 149k loan
I dont know anything about loans so how can i get it down to about $400-$500 a month?

You can't get it that low. EG, if you you got a 30 year, 2.5%, fixed rate loan, the payment would be $589/m. ...
  Topic: How am I doing?
oldguy

Replies: 2
Views: 468

Post image iconForum: Personal Finance   Posted: Tue Apr 11, 2017 4:52 pm   Subject: How am I doing?
Once the debt is paid off I want to increase savings in some combination of 401k, RothIRA and Mutual Fund.

The key metrics for you are 'time' and 'rate". In your case, 'time' is about 30 yrs. (Mo ...
  Topic: Query related to mortgage application
oldguy

Replies: 1
Views: 620

Post image iconForum: Credit & Loans   Posted: Sat Apr 08, 2017 6:38 pm   Subject: Query related to mortgage application
In the case of a Non-Canadian, what are the factors which decide the interest rate? How will they calculate the down payment he has to pay?

I don't have any specifics to offer to you - but "risk an ...
  Topic: Balancing a portfolio between retirement and regular account
oldguy

Replies: 3
Views: 607

Post image iconForum: Retirement Planning   Posted: Thu Apr 06, 2017 4:06 pm   Subject: Balancing a portfolio between retirement and regular account
I am at around 65:35 now (I am 62). I was just trying to make the question simpler!

Good job!
  Topic: Balancing a portfolio between retirement and regular account
oldguy

Replies: 3
Views: 607

Post image iconForum: Retirement Planning   Posted: Thu Apr 06, 2017 3:52 pm   Subject: Balancing a portfolio between retirement and regular account
You would put the stocks into your taxable account - that allows you to use the capital gains rate rather than your ordinary tax rate. (Any stocks inside of your 'protected' account will be taxed at ...
  Topic: inheritance money
oldguy

Replies: 1
Views: 586

Post image iconForum: Money Watch   Posted: Fri Mar 31, 2017 6:53 pm   Subject: inheritance money
Please don't judge the student debt.

LOL, you had to warn us twice? Of course we'll judge, it was a dumb thing to do, especially if the degree only qualifies you for low-income jobs.

List the s ...
  Topic: Taxes/Retirement
oldguy

Replies: 1
Views: 647

Post image iconForum: Taxes   Posted: Thu Mar 30, 2017 2:27 am   Subject: Taxes/Retirement
Should I take some more out of my retirement to pay this fee?

I'm surprised that your school's administrator didn't point that out to you and suggest a better plan for you. And at least warn you a ...
  Topic: 21 Year Old Business Owner Seeking Advice
oldguy

Replies: 2
Views: 663

Post image iconForum: Personal Finance   Posted: Wed Mar 29, 2017 4:31 pm   Subject: 21 Year Old Business Owner Seeking Advice
but I am having to help my mother pay her bills as in October of 2015. My father walked out on her and I leaving her with the bills and a job that can't cover everything.

One answer is to change "w ...
  Topic: My Spouse's Massive Student Loan Debt
oldguy

Replies: 4
Views: 1064

Post image iconForum: Credit & Loans   Posted: Wed Mar 29, 2017 4:16 pm   Subject: My Spouse's Massive Student Loan Debt
The house we moved into is mine, and is could be paid off if I wanted it to be

Yes, major house equity makes things much easier - put an 80% mortgage on the house, 30 years, fixed rate, ~4%, and ap ...
  Topic: My Spouse's Massive Student Loan Debt
oldguy

Replies: 4
Views: 1064

Post image iconForum: Credit & Loans   Posted: Tue Mar 28, 2017 11:21 pm   Subject: My Spouse's Massive Student Loan Debt
What is his degree in?

The good news in this is that your combined income is $140,000, that's pretty solid for a young couple. The bad news is the communication issue - dh needs to work on his in ...
  Topic: Withdrawal from 401k
oldguy

Replies: 1
Views: 764

Post image iconForum: Retirement Planning   Posted: Tue Mar 28, 2017 10:48 pm   Subject: Withdrawal from 401k
Generally, the advice is to avoid breaking into a 401k. Here's why - assuming a marginal Fed Tax rate of 22%, a State Income Tax of 5%, and the 10% penalty for withdrawing prior to age 59 1/2 , the n ...
  Topic: pay off debt vs necessary home repair
oldguy

Replies: 4
Views: 1244

Post image iconForum: Personal Finance   Posted: Fri Mar 24, 2017 9:07 pm   Subject: pay off debt vs necessary home repair
I would start with the house - if you have equity, refi the house. Your goal should be to get rid of the high rate, shortterm debt - and convert to low rate longterm debt.
Eg, $25,000 borrowed on a ...
 
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