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Viewing profile - StarryC

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StarryC
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Joined: Tue Aug 21, 2012 1:33 pm
Last visited: Sun Mar 17, 2013 12:02 pm
Total posts: 21
[0.02% of all posts / 0.01 posts per day]
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Most active forum: Personal Finance
[ 21 Posts / 100.00% of user’s posts ]
Most active topic: Priorities: Debt, Retirement, Emergency?
[ 4 Posts / 19.05% of user’s posts ]

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StarryC Posts

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 Forum: Personal Finance   Topic: Help, need some finacial advice

Posted: Fri Mar 08, 2013 4:54 pm 

Replies: 4
Views: 1227


Your car is worth between $20 and $22k. You owe $14K. Therefore you have between $6 and $8k in equity. For $8,000, where I live you can buy a 2002 or 2004 Honda Civic. I bet you won't pay more than $3000 in maintenance over the course of the next 4 years. If you sell your car, buy a civic (or simila...

 Forum: Personal Finance   Topic: Real Estate Delima: Stay & Suffer or Pay & Move

Posted: Fri Mar 08, 2013 4:38 pm 

Replies: 4
Views: 1958


I am completely unqualified to answer this question, but this is the internet! I am assuming your "male counterpart"/ BF is someone that you are really very committed to, but perhaps with the government sanctioned certificate to prove it. Could you, talk to your lender about a shortsale an...

 Forum: Personal Finance   Topic: Income Planning 23 Year Old

Posted: Thu Feb 28, 2013 12:08 pm 

Replies: 12
Views: 2098


friction This is a better way to put it. What I mean is that in the first few years you aren't going to build up much equity (via payments) that could offset losses caused by transactional costs. You also risk the possibility that the propery value declines, which is certainly possible in the short...

 Forum: Personal Finance   Topic: Income Planning 23 Year Old

Posted: Wed Feb 27, 2013 5:53 pm 

Replies: 12
Views: 2098


Maybe I'm just gun shy, but I don't think you should buy a house while your fiance is going to med school, unless you are pretty sure you and she will want to (and be able to) stay there after she finishes. Rent isn't throwing money away. The first few years of your mortgage are mostly interest. I w...

 Forum: Personal Finance   Topic: Where do you keep your Emergency Fund?

Posted: Wed Feb 27, 2013 5:29 pm 

Replies: 17
Views: 3615


I keep the first $1000 in a money market account attached to my checking acount with no transfer delay. Most emergencies that mean you need cash within 24 hours will be under $1000 is my bet. This is at really low interest, perhaps .01%. Then I keep about 2 months expenses in an Ally account with ne...

 Forum: Personal Finance   Topic: Got some money to throw at the car loan, NEED SOME ADVICE!

Posted: Thu Feb 14, 2013 1:22 pm 

Replies: 10
Views: 2389


Ok, I read the other thread where you lay out your debts and say you are in California. I see, on Craigslist, 2007 Navigators selling for $22k to $28k. Assuming you are in that area, spend 4 hours cleaning the Navigator so it is beautiful and shiny. Try to sell it for the payoff or at least $22,000....

 Forum: Personal Finance   Topic: Got some money to throw at the car loan, NEED SOME ADVICE!

Posted: Thu Feb 14, 2013 11:15 am 

Replies: 10
Views: 2389


Ok, so here's one way to convince her. You both must ignore everything that has happened in the past. Today, you have a car worth $19,000, A loan of $27,000 at 8% (60 months? 72 months?), $26,000 of cash(I'm assuming guaranteed from something), and a need for a reliable vehicle of some sort. A relia...

 Forum: Personal Finance   Topic: Got some money to throw at the car loan, NEED SOME ADVICE!

Posted: Wed Feb 13, 2013 4:49 pm 

Replies: 10
Views: 2389


My car loan is at 4%, and I think others around here with longer credit history could probably secure 2.99% (though perhaps not on such a large loan on a fuel inefficient car). So, I think 8% is a terrible rate. You should also think about the term of the loan. I see practically no reason that you n...

 Forum: Personal Finance   Topic: I think I'm doing good, but there is always room to improve.

Posted: Fri Jan 25, 2013 1:59 pm 

Replies: 6
Views: 1799


If I were in your position, I would be putting all or most of my debt re-payment fund into the 401K loan. I wouldn't pay extra on the mortgage or the car loans until that was done. Yes, the car loan is higher interest. However, the 401K loan can be called back if something happens with your job, rig...

 Forum: Personal Finance   Topic: $50,000 bonus for an 18 year old - what to do??

Posted: Tue Jan 08, 2013 6:20 pm 

Replies: 28
Views: 4160


What I meant is if he is obtaining a check (after attorney fees and medical payments) of $50,000, that's probably not a fender bender. This is my line of work. Attorneys take about 1/3 of a settlement. Often a settlement is about 3 times the medical bills + verifiable wage loss. So a $150,000 settle...

 Forum: Personal Finance   Topic: Gambling issues and investment

Posted: Tue Jan 08, 2013 2:44 pm 

Replies: 4
Views: 1097


Apparently not, huh? I can't say I've had experience with this. However, I think that most people's investments should be relatively low risk and attention free. If you can, have money taken out of your paycheck and put into a 401K or the like invested in an index fund or Vanguard or whatever low fe...

 Forum: Personal Finance   Topic: $50,000 bonus for an 18 year old - what to do??

Posted: Tue Jan 08, 2013 2:35 pm 

Replies: 28
Views: 4160


A settlement that results in a $50,000 payment directly to an 18 year old tells me the accident was pretty serious. He must have had substantial medical bills or injuries that would likely affect his ability to work. I would make sure that you are taking into account those factors. Have the injuries...

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

Posted: Thu Jan 03, 2013 6:06 pm 

Replies: 35
Views: 5458


I think everyone agrees that steps 1 and 2 are to pay off the credit card debt and the car loan. I think most would agree step 3 is a fully funded 3-6 month emergency fund. If you are making 95,000 a year and saving about 10% of your income now, that would be over $42,000 in emergency funds (unless ...

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

Posted: Thu Oct 18, 2012 12:36 pm 

Replies: 27
Views: 3551


Doing Homework is right about the umbrella. The renters/ homeowners/ business/ auto isurance is "primary" and the umbrella is secondary. I would only advise an umbrella if you have something to protect- large savings, stocks, second homes, etc. I can't tell you statistically how many peopl...
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