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Viewing profile - timwalsh300

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timwalsh300
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Joined: Mon Jun 23, 2008 6:54 am
Last visited: Sun Jun 28, 2015 9:02 am
Total posts: 636
[0.71% of all posts / 0.21 posts per day]
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Most active forum: Personal Finance
[ 445 Posts / 69.97% of user’s posts ]
Most active topic: Chicago Tea Party
[ 23 Posts / 3.62% of user’s posts ]

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timwalsh300 Posts

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 Forum: Personal Finance   Topic: Rock bottom, now what?

 Post subject: Re: Rock bottom, now what?
Posted: Wed Oct 17, 2012 8:57 am 

Replies: 39
Views: 4627


Good point. The best course of action, then, is to refinance everything (credit card debt and the car loan) with a personal loan. Then you'd be able to get the car title, sell it on the private market, and use the money as you wish. The trick, of course, would be getting a loan, and getting one at a...

 Forum: Personal Finance   Topic: Rock bottom, now what?

 Post subject: Re: Rock bottom, now what?
Posted: Tue Oct 16, 2012 6:54 pm 

Replies: 39
Views: 4627


Since you're going to give Dave Ramsey a shot, this what he would say (and I would agree): Sell it now, use $1k from the sale to buy a beater (if you really need something to drive), set aside another $1k for a little emergency fund, and then buckle down and start working on the debt. With the remai...

 Forum: Personal Finance   Topic: New Grad: Am I Living Beyond My Means?

Posted: Tue Oct 16, 2012 3:59 pm 

Replies: 27
Views: 3565


renter's insurance, albeit cheap, is a waste of money Perhaps the liability portion... But the portion covering my personal property still seems to be worthwhile at $10/month. If the apartment building burns to the ground (or there is some other disaster), yeah maybe I can sue my landlord. How much...

 Forum: Personal Finance   Topic: New Grad: Am I Living Beyond My Means?

Posted: Tue Oct 16, 2012 10:47 am 

Replies: 27
Views: 3565


Two of the three places I've rented since 2008 required me to have insurance. I already had it (because I wanted the coverage), so no big deal. I guess I never stopped to wonder why it would be required. It must reduce the landlord's own insurance/litigation costs somehow. I suspect it has more to d...

 Forum: Personal Finance   Topic: New Grad: Am I Living Beyond My Means?

Posted: Tue Oct 16, 2012 9:10 am 

Replies: 27
Views: 3565


For what it's worth, we are paying $10/month to USAA for renter's insurance. That covers $25k worth of property with a $1k deductible. It also has some liability coverage. I got a quote from Liberty Mutual and it was double the price, even with an alumni association discount.

Tim

 Forum: Personal Finance   Topic: Thoughts on tax efficiency

Posted: Tue Oct 16, 2012 3:34 am 

Replies: 9
Views: 1622


Good discussion on this also taking place over here... http://www.bogleheads.org/forum/viewtopic.php?f=10&t=104241&newpost=1513464 The only conclusion that doesn't make sense to me, so far, is that tax-exempt bonds would be automatically better than taxable bonds. One person points out that ...

 Forum: Personal Finance   Topic: Master Limited Partnerships

Posted: Mon Oct 15, 2012 7:01 pm 

Replies: 6
Views: 1598


I remember looking at these in the dark days of 2009, trying desperately to find a secret recipe for good returns with minimal risk/volatility. I wondered if high dividend yield was the key (as if I were the first person to consider the idea - haha), and I found a bunch of these MLPs using the Googl...

 Forum: Personal Finance   Topic: Thoughts on tax efficiency

Posted: Mon Oct 15, 2012 6:46 pm 

Replies: 9
Views: 1622


Yeah, I guess the problem is in the assumptions... garbage in - garbage out. I brought this up because the back-of-the-envelope math I did (using tax rates set to take effect in 2013) flies in the face of the commonly accepted answer. So I suppose the real question is, "Am I missing something i...

 Forum: Personal Finance   Topic: Thoughts on tax efficiency

Posted: Mon Oct 15, 2012 5:42 pm 

Replies: 9
Views: 1622


But the question is not, "should one buy stocks or bonds?" The question is, "if one has both stocks and bonds, which ones are better to hold in tax-sheltered space?"

Tim

 Forum: Personal Finance   Topic: Rock bottom, now what?

 Post subject: Re: Rock bottom, now what?
Posted: Mon Oct 15, 2012 5:36 pm 

Replies: 39
Views: 4627


DoingHomework wrote:
Spenster, please don't listen to Dave Ramsey. And under NO circumstance pay him money by buying his snake oil.


Again, I'm not a big fan of Ramsey, but I actually think Spenster would benefit from his tough-love approach and motivational style. Listening to the radio show is free.

Tim

 Forum: Personal Finance   Topic: What to do with spare money?

Posted: Mon Oct 15, 2012 5:27 pm 

Replies: 14
Views: 2968


I'm not sure about the 25% tax drag. How is that different than any other investment? Do you mean because of the qualified dividend exclusion? I'm assuming that he takes the risk on junk-grade debt in lieu of stocks with the expectation that it will drive the total return of his portfolio (as oppos...

 Forum: Personal Finance   Topic: What to do with spare money?

Posted: Mon Oct 15, 2012 12:54 pm 

Replies: 14
Views: 2968


I just got a chance to look up the Lending Club. So you are: 1. investing about 1/3 of your savings in, essentially, junk bonds 2. investing in a product, more specifically, with barely five years of history 3. paying at least 1% in fees, and up to 30% if the loans go to a collection agency 4. doing...

 Forum: Personal Finance   Topic: What to do with spare money?

Posted: Mon Oct 15, 2012 3:06 am 

Replies: 14
Views: 2968


This is unclear: are you contributing the max to the TSP? At only 2.5 basis points, those are the best funds you'll ever have the opportunity to buy. If your student loan interest rate is 5-8% I would accelerate payments now (maybe even before investing). Even if it's only 2-3%, paying it off early ...

 Forum: Personal Finance   Topic: Loan to brother?

 Post subject: Re: Loan to brother?
Posted: Sun Oct 14, 2012 6:27 pm 

Replies: 30
Views: 4493


I would not lend money to family or friends. Gifts only, if I could afford it. A loan would theoretically allow you to help him with more money than you could otherwise afford to give, but what happens to your relationship if his failure to repay the loan causes financial hardship? An ugly situation...
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