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A place for Get Rich Slowly readers to ask questions
and exchange ideas
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Viewing profile - flinch13

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Joined: Tue Sep 20, 2011 2:20 am
Last visited: Mon Sep 03, 2012 2:39 am
Total posts: 196
[0.22% of all posts / 0.11 posts per day]
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Most active forum: Personal Finance
[ 194 Posts / 98.98% of user’s posts ]
Most active topic: Assassinate your Student Loan *here*
[ 32 Posts / 16.33% of user’s posts ]



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flinch13 Posts

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 Forum: Personal Finance   Topic: Fidelity or Vanguard

 Post subject: Re: Fidelity or Vanguard
Posted: Sun Jun 10, 2012 7:18 pm 

Replies: 6
Views: 3515

Tough luck on your employer not offering a 401k anymore. Ideal choice to go with a low-cost broker like Fidelity or Vanguard.

By my measure, Fidelity and Vanguard are like Canon and Nikon in the camera/lens arena: equivalent and excellent. Either one would be a good choice.

 Forum: Personal Finance   Topic: Is this too weird? (Land and an airstream)

Posted: Sun Jun 10, 2012 7:16 pm 

Replies: 18
Views: 3091

I think you are awesome. Lasso your dreams while you still can! Seems like a steal, depending on where you are located. 20% should be fine. It's a relatively small sum to borrow and interest rates are crazy right now. You might well consider an ARM, if you want to get the lowest rate possible and th...

 Forum: Personal Finance   Topic: Lazy Portfolio for Kids

 Post subject: Re: Lazy Portfolio for Kids
Posted: Sun Jun 10, 2012 7:14 pm 

Replies: 4
Views: 11356

Vanguard Star Fund comes highly rated. Though if you're married to fidelity, that's ok too.

 Forum: Personal Finance   Topic: Inheriting 130k now what?

Posted: Fri Jun 08, 2012 4:55 am 

Replies: 9
Views: 2905

Obviously it would be good to pay off debts, but BE VERY CAREFUL and be prepared to handle the tax situation on this assets with precision.

I advise you consult a lawyer or tax consultant who will tell you how to best handle these assets so uncle sam doesn't hang you out to dry when tax time comes.

 Forum: Personal Finance   Topic: Refinancing: Nobody Wants My Loan

Posted: Thu Jun 07, 2012 3:27 am 

Replies: 6
Views: 1923

How about a diy refinance? Can you open a home equity line of credit, and then pay the balance of the loan, then treat the line of credit as your new mortgage? If you have enough equity already, this may be a viable option.

 Forum: Personal Finance   Topic: Municipal Bonds Question

Posted: Thu Jun 07, 2012 3:25 am 

Replies: 10
Views: 12419

Adding to what bill_o said, bonds, and especially government ones like munis, stand to lose a large proportion of their value as soon as interest rates increase. Your friend the old-timer probably owns municipal bonds from the good-old-days, e.g. they were issued when interest rates were high, and t...

 Forum: Personal Finance   Topic: Advice on tax situation please

Posted: Wed Jun 06, 2012 5:32 am 

Replies: 3
Views: 1075

Let me ask you this... what are the interest rates on your loans? Also, what is the total balance? From where I sit, this seems like an attractive option. There is no downside because this is free money, and you only pay them back in the case that you change jobs voluntarily (I assume... if you were...

 Forum: Personal Finance   Topic: Opening credit cards for the cash back offer

Posted: Wed Jun 06, 2012 5:30 am 

Replies: 14
Views: 179454

Go for it. But proceed with caution. Pros: 1) Bonus points 2) Better credit score (if you can handle it) Cons: 1) Easy to get in over your head 2) Easy to spend money you don't have. Make sure you pay your balance in full each month, make sure you use each card you have at least twice a year. A pers...

 Forum: Personal Finance   Topic: Fee Only Advisor Question

Posted: Wed Jun 06, 2012 5:25 am 

Replies: 37
Views: 6711

There is almost no standardization in the financial planning industry. Thus, "fee-based" or "fee-only" can have a variety of meanings. In most cases, the predominant meaning is "we're going to charge whatever fees we want, and there's nothing you can do about it". I wou...

 Forum: Personal Finance   Topic: Keep or dump timeshare question

Posted: Sun Jun 03, 2012 5:23 pm 

Replies: 26
Views: 3932

Congrats! You are *very* lucky to find a buyer.

 Forum: Personal Finance   Topic: ESA or 529

 Post subject: Re: ESA or 529
Posted: Sun Jun 03, 2012 5:21 pm 

Replies: 5
Views: 1332

Several factors to consider here. 1) Can you guarantee the kids you are saving for want/need to go to college? 2) Does your state offer a 529 plan that allows you to deduct your contributions from your income for tax purposes? 3) Can you trust your kids to be responsible with money if they're the le...

 Forum: Personal Development   Topic: Terrible Undergrad Transcript and wanting to apply for MBA

Posted: Sun Jun 03, 2012 5:53 am 

Replies: 7
Views: 8582

Yup... The safest bet here is to present yourself as a candidate that doesn't test well.... Who performs well in the real world and not so much in academia.

Work like crazy on studying for exams, preparing essays and resumes, and network with everyone and anyone who'll talk to you.

 Forum: Personal Finance   Topic: About to start hacking away debt

Posted: Sun Jun 03, 2012 5:50 am 

Replies: 10
Views: 2175

+1 on aggressive investing when you've got the money and the economy is in a pessimistic state. If you're investing for over 5-10 years down the road, it's a relatively safe bet... Certainly better than treasuries or munis right now.

 Forum: Personal Finance   Topic: Assassinate your Student Loan *here*

Posted: Sun Jun 03, 2012 5:44 am 

Replies: 225
Views: 57866

My windfall took the form of a small inheritance. I fortunately had a small loan balance as well, so they basically cancelled each other out.
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