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It is currently Mon Sep 26, 2016 1:49 am



Viewing profile - toolcrib

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toolcrib
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Joined: Wed Nov 16, 2011 1:26 pm
Last visited: Fri Apr 10, 2015 9:22 am
Total posts: 38
[0.04% of all posts / 0.02 posts per day]
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Most active forum: Personal Finance
[ 25 Posts / 65.79% of user’s posts ]
Most active topic: I think I'm doing good, but there is always room to improve.
[ 5 Posts / 13.16% of user’s posts ]

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toolcrib Posts

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 Forum: Personal Finance   Topic: Career move and a question or two

Posted: Fri Oct 10, 2014 7:46 am 

Replies: 5
Views: 1121


I have recently accepted a new position at a different company that will have me relocating. One thing that stood out was that their 401K option is managed by Vanguard. I currently have my Roth IRA with Vanguard and was planning on rolling my current 401K over to Vanguard. So my first question is wh...

 Forum: News & Announcements   Topic: 401k help

 Post subject: Re: 401k help
Posted: Mon Aug 04, 2014 7:51 am 

Replies: 2
Views: 1450


I am not positive from the information provided, but this sounds like a limitation caused by a top heavy 401k plan. If you are counted as either a "highly compensated employee" or a "key employee" then there can be limitations on you contribution amount below the standard $17,500...

 Forum: General Discussion   Topic: Student Loan - I feel like I got scammed

Posted: Fri Jun 20, 2014 1:29 pm 

Replies: 12
Views: 5536


I chose the second option. If I pay the normal payment and add $200 extra. Will that $200 go towards the principle? The short answer is yes. Looking at the payment history you posted, every month you have around $73 in interest accumulating. When you make a payment the accrued interest is taken fir...

 Forum: General Discussion   Topic: Change 30 year mortgage to a 15 year possible?

Posted: Fri Jun 20, 2014 6:10 am 

Replies: 7
Views: 3125


If you want to refinance to a 15 year mortgage after owning the house for a couple years then there will likely be additional fees. If you have a conventional 30 year mortgage, and you want to pay additionally each month to have it paid off in 15 years then there likely will not be an additional cos...

 Forum: Personal Finance   Topic: Working towards debt-free, pondering rent vs. own

Posted: Fri Jun 20, 2014 5:55 am 

Replies: 20
Views: 2660


No worries there, I was not trying to call you out. I just want to make sure someone did not watch the video and conclude that renting is always better than buying without doing the math for themselves with the options available to them.

 Forum: Personal Finance   Topic: Working towards debt-free, pondering rent vs. own

Posted: Fri Jun 20, 2014 5:42 am 

Replies: 20
Views: 2660


I am not of the belief that owning a home is required to become wealthy. The cost savings I see are due mainly to maintaining the property yourself. If you own a home, but pay to have the yard work done and hire a handyman to do all the repairs to your home it may not offer the cost savings you are ...

 Forum: Personal Finance   Topic: Paranoid....

 Post subject: Re: Paranoid....
Posted: Mon May 05, 2014 2:02 pm 

Replies: 11
Views: 1757


Is there an emergency fund in addition to the $15,000, or is this essentially your E-fund? I have two competing views on this, the first is that there is $21,000 of debt at a rate of 15%. This debt is costing over $250 per month in interest alone. This is debt that I would want to eliminate ASAP. Th...

 Forum: Fiscal Fitness Journals   Topic: ArtGal's student loan payoff journey

Posted: Thu May 01, 2014 6:15 am 

Replies: 122
Views: 16462


Thanks for sharing your thoughts - everything you've said makes sense. We actually haven't paid off any individual loans yet, but the balances are starting to feel much more manageable. Out of 13 individual loans between the two of us (we don't make 13 separate payments, as many of them are with th...

 Forum: Fiscal Fitness Journals   Topic: ArtGal's student loan payoff journey

Posted: Wed Apr 30, 2014 2:16 pm 

Replies: 122
Views: 16462


Artgal, Reading through your recent posts indicates to me that you are feeling better about the amount of debt you are carrying. It appears that a large number of loans have been paid off which means you have a lower monthly outlay required to maintain them and thus more flexibility in where you can...

 Forum: Success Stories   Topic: Oficially down to just a mortgage

Posted: Thu Apr 24, 2014 8:55 am 

Replies: 1
Views: 7672


Today marked the final payment on my 401k loan which was the last non mortgage debt I was carrying. When I first joined this forum I had a student loan, a car loan, my 401K loan, a loan from my parents, and a mortgage. I did cheat a little by doing a cash our refinancing of my mortgage to allow me t...

 Forum: Personal Finance   Topic: Need Advice on Savings and Student Loan Payoff

Posted: Fri Apr 11, 2014 8:24 am 

Replies: 6
Views: 1089


I may be misinterpreting some things, so I want to clarify. Please correct me where I am wrong. Student Loan Debt is $160,000 @ $1000/month. Car payment is $300/month Rent is $1,900/month Savings is $136,000 (85% of $160,000) This is also your annual gross salary. You are considering buying a house ...

 Forum: Personal Finance   Topic: Buying a Car on a Credit Card

Posted: Thu Apr 03, 2014 12:51 pm 

Replies: 8
Views: 1286


My parents tried to do this, however the car dealer would not accept the credit card as payment due to the fees charged by the credit card company. In the end they just wrote a check and went on their way.

 Forum: Personal Finance   Topic: Should I convert my company matches? PLUS a retirement poll!

Posted: Tue Jan 07, 2014 8:03 am 

Replies: 1
Views: 574


There seems to be a lot of questions on traditional vs. Roth appearing on the forum so I will throw my 0.02 in. My personal approach is to split my retirement savings between the two options. My 401K contributions are traditional and my IRA is Roth. I consider this diversifying my savings against ch...

 Forum: Personal Finance   Topic: Feeling a little desperate

Posted: Tue Jul 30, 2013 11:12 am 

Replies: 8
Views: 1629


I do not see allowing one or both of your cars to be repossessed as doing you any good in the foreseeable future. From your other thread you have accumulated significant debt, but also have an above average take home pay. This does not mean that everything is OK and you can keep spending/accumulatin...
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