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12-30-2013, 12:45 AM | #51 |
Scooby Newbie
Member#: 34631
Join Date: Mar 2003
Chapter/Region:
MAIC
Location: Momma Didn't Love Me
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Just keep an eye on that FSA though. Easy to forget about it rolling over and losing the cash you put in.
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12-30-2013, 12:50 AM | #52 |
Scooby Specialist
Member#: 66310
Join Date: Jul 2004
Chapter/Region:
South East
Location: Removing passenger seat
Vehicle:2023 korean muscle |
Previous years i have forgotten about it but never lost any money. This year its 1 bill and my wife knows how the system works. She will remind me many times about it.
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12-30-2013, 12:59 AM | #53 |
Scooby Specialist
Member#: 138000
Join Date: Jan 2007
Chapter/Region:
BAIC
Location: et ament meminisse periti
Vehicle:Buy Nate's coffee west coast roasting |
I'm pissed. Now that I am older I am reliably spending about $500-1000 a year on medical expenses. I only put away $20/month in FSA.
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12-30-2013, 01:36 AM | #54 |
Scooby Newbie
Member#: 318644
Join Date: Apr 2012
Location: Dear Leader
Vehicle:ima useless millennial |
I like my vanguard account.
My roth ira is up 21.98% YTD (obviously everything else is around the same, except PM, lol.) it's nice logging into an account and seeing like $1,300 in profit for something you literally didn't really do, just put it money into an account every other week. |
12-30-2013, 06:50 AM | #55 | |
Scooby Specialist
Member#: 66310
Join Date: Jul 2004
Chapter/Region:
South East
Location: Removing passenger seat
Vehicle:2023 korean muscle |
Quote:
From now on im maxing it out. |
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12-30-2013, 08:32 AM | #56 |
Add Lightness
Moderator Member#: 13699
Join Date: Dec 2001
Chapter/Region:
NESIC
Location: Hopkinton, MA
Vehicle:2021 Building It Better |
I would love to only have $1000 a year in medical expenses. Last year, beyond insurance premiums, I think I was in the $5k range. This year, likely a lot higher. FSA started at my work for 2014 and am putting in $2500 max.
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12-30-2013, 08:35 AM | #57 |
Scooby Guru
Member#: 204578
Join Date: Mar 2009
Location: I'll see myself out
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12-30-2013, 08:36 AM | #58 |
Scooby Guru
Member#: 204578
Join Date: Mar 2009
Location: I'll see myself out
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12-30-2013, 09:16 AM | #59 |
Scooby Specialist
Member#: 78408
Join Date: Dec 2004
Chapter/Region:
MAIC
Location: NoVA
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This is relavant to my interests.
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12-30-2013, 10:00 AM | #60 |
Add Lightness
Moderator Member#: 13699
Join Date: Dec 2001
Chapter/Region:
NESIC
Location: Hopkinton, MA
Vehicle:2021 Building It Better |
Well.....selling some contrafund to buy into IWM (Russell 2000 index....small cap) and VNQ (real estate etf). I looked at my present work 401k for a change today and it's 100% in mid cap.....so now I'll be covered large, mid, small cap, low price, China, Bond, REIT. Also have an IT fund (because 80% of OT is in IT.....gotta keep you guys employed). <sigh> will have to figure out the wife's funds too. I picked them all in my somewhat random manner 15 years ago. weeeeee Where's silver today......
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12-30-2013, 10:01 AM | #61 |
Scooby Specialist
Member#: 42912
Join Date: Sep 2003
Chapter/Region:
MAIC
Location: Newark, DE
Vehicle:2003 Outback Sport bird **** & door dings |
I've been dropping the ball on opening 529 accounts for my kids. They have a small chunk of money from birthdays and what not sitting in savings accounts doing squat. I think what it comes down to is researching the fees since i have found no tax benefits for the state i live in...any feedback?
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12-30-2013, 10:10 AM | #62 |
Scooby Specialist
Member#: 42912
Join Date: Sep 2003
Chapter/Region:
MAIC
Location: Newark, DE
Vehicle:2003 Outback Sport bird **** & door dings |
not everyone can check off all the items on this list. i think that is where the struggle is, prioritizing what you can do.
obviously paying down revolving debt and at minimum invest up to company match, but with how the market is performing now does it make any sense to up your 401k contribution or save money while still sitting on cc debt in the 9.99-14.99% range? |
12-30-2013, 10:12 AM | #63 | |
Scooby Guru
Member#: 204578
Join Date: Mar 2009
Location: I'll see myself out
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Quote:
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12-30-2013, 10:16 AM | #64 | |
Scooby Specialist
Member#: 42912
Join Date: Sep 2003
Chapter/Region:
MAIC
Location: Newark, DE
Vehicle:2003 Outback Sport bird **** & door dings |
Quote:
This year I'm switching plans to a high deductible, low premium that includes a $1200 HSA credit which can be rolled over year to year unlike the FSA. |
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12-30-2013, 10:59 AM | #65 |
Scooby Guru
Member#: 7887
Join Date: Jun 2001
Vehicle:2023 Tangerine 2023 3 Cylinder |
I've gotten to the point that I just pay all of my FSA expenditures with my personal CC and submit the EOB, bill, and receipt online afterward to get reimbursed. It never fails that when I use the actual card, I get a letter a few months later asking for all of that information anyway.
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12-30-2013, 11:29 AM | #66 | |
Scooby Specialist
Member#: 123330
Join Date: Aug 2006
Chapter/Region:
Tri-State
Location: Pink Cow Arena
Vehicle:16 ZoomZoom CeX-3 15 ZoomZoom3-Regina |
Quote:
I just had a recent windfall and am going to invest the money into an ETF. I hear Vanguard ETFs are a good bang for the buck. I'm not looking to touch this money for another 5 years. |
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12-30-2013, 11:51 AM | #67 |
Scooby Specialist
Member#: 117487
Join Date: Jun 2006
Location: Oklahoma
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This thread is relevant to my interests.
I should max out my 401k (at 10% now) before I put money elsewhere, correct? No CC debt, two car loans at ~3%, ~$14k in student loans at 6.8%, and $178k mortgage at 3.5%. I think we're about to start putting all our extra money towards our student loans and then up our savings. |
12-30-2013, 12:02 PM | #68 | |
Scooby Specialist
Member#: 64196
Join Date: Jun 2004
Chapter/Region:
RMIC
Vehicle:2010 Family Sedan |
Quote:
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12-30-2013, 12:29 PM | #69 |
Scooby Guru
Member#: 204578
Join Date: Mar 2009
Location: I'll see myself out
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On the high end, I had $80k @ 9.8%, and $18k @ 7.75%.
****ing criminal. |
12-30-2013, 01:17 PM | #70 | |
Add Lightness
Moderator Member#: 13699
Join Date: Dec 2001
Chapter/Region:
NESIC
Location: Hopkinton, MA
Vehicle:2021 Building It Better |
Quote:
If you expect need based aid, remember that any 529 is considered an asset that is expected to be used for college. In other words, if you have $4k in a 529 ($1k a year for 4 years) and you would have otherwise qualified for $1k in aid, they subtract the 529 amount. In this example, you get zero. Income is counted more highly in the calculation than assets and there is an asset amount that you're free with (depending on your age and the number of family members). An asset from the child is also counted more highly than the asset from a parent. I'm not saying to NOT put money into a 529. What you might consider instead is putting the money into something that is not in the child's name. A mutual fund....sure. US savings bonds (iBonds) can be good. If you cash them in, you pay no state tax and depending on your income, if you use it to pay for college, the interest isn't taxable. 401k is the absolute best place to put the money. Not only do you get the benefit of both your money and the tax you would have paid growing.....when you fill in you fafsa form, for non-CSS schools, they don't count 401k or other retirement accounts as assets. Now.....if you go to a CSS school, they have you divulge a lot more stuff......and it's harder to "hide" money from them. College finance is incredibly complicated and I've been swimming in it for a while now and have worked with a professional college finance planner. If my son had chosen my or my wife's alma mater (Worcester Polytech or Northeastern), they're CSS schools and we would have zero chance of any aid. Since the vast majority of my savings is in 401k/IRA, we might get a little. Something else to remember is when you hear a politician say that he's helped to raise college aid to elevendy bazillion dollars, 10 bazilliondy dollars are either loans or work-study. There is very little government aid for college anymore. You can get aid if you're a disabled minority veteren woman taking a specific major. The rest of us.....not so much. Schools have aid available sometimes. Depends on the school. State schools....very little. Private schools, much more but the costs make up the difference. I'd look into plumbing school costs. (I'm not kidding) |
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12-30-2013, 01:22 PM | #71 |
Scooby Guru
Member#: 34935
Join Date: Apr 2003
Chapter/Region:
MAIC
Location: Silver Spring, MD
Vehicle:Dad- Core OG |
I'm getting a 1% raise so I'm going to put 1% more in my 401K (Federal TSP).
That's all I've got... |
12-30-2013, 01:27 PM | #72 | |
Add Lightness
Moderator Member#: 13699
Join Date: Dec 2001
Chapter/Region:
NESIC
Location: Hopkinton, MA
Vehicle:2021 Building It Better |
Quote:
Join a credit union and refi the cars. Mine will do a used car refi at 1.99%. Doesn't sound like much, but for that little effort, you're saving money. Then up the 401k to maximum. (make sure you have 6 months saved, assuming you loose a job) Then put extra money towards the mortgage. When the mortgage is paid off, buy yourself a 911. (not really.....or maybe?) |
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12-30-2013, 01:40 PM | #73 | |
Scooby Specialist
Member#: 138000
Join Date: Jan 2007
Chapter/Region:
BAIC
Location: et ament meminisse periti
Vehicle:Buy Nate's coffee west coast roasting |
Quote:
i.e you go from 3% to 4% of (new) salary, or you are going for 3% to 3.03% (of old salary). ouch this math hurts. |
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12-30-2013, 01:42 PM | #74 |
Scooby Guru
Member#: 34935
Join Date: Apr 2003
Chapter/Region:
MAIC
Location: Silver Spring, MD
Vehicle:Dad- Core OG |
I'm going from contributing 8% of my annual salary to contributing 9% of my annual salary. |
12-30-2013, 02:01 PM | #75 |
Scooby Specialist
Member#: 42912
Join Date: Sep 2003
Chapter/Region:
MAIC
Location: Newark, DE
Vehicle:2003 Outback Sport bird **** & door dings |
i have zero student loans through grad school...my wife on the other hand has $$ for a teaching degree...she's currently unemployed
this month i'm finally paying off 1 of her 3 loans. Small victory that frees up a few hundo/mo. . still a long road to go. |
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