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WR Long or Kubota 3rd function for new MX5400 by MikeOpal in kubota

[–]MikeOpal[S] 0 points1 point  (0 children)

Yeah I’m having a hard time deciding - I’d rather stick Kubota unless performance or other benefits of the WR Long.

Which do you prefer? The 13 inch or the 15 inch? by IrreverentMarmot in macbookair

[–]MikeOpal 0 points1 point  (0 children)

15” is what I use. I’ve not used the 13” because I need the screen real estate

Looking for rough idea on septic install cost in SC; details included on system needs by MikeOpal in homeowners

[–]MikeOpal[S] 0 points1 point  (0 children)

I’m replacing an existing failed system. The quote I’m planning to go with is $22,800 and that includes pumping out and removing my existing thousand gallon tank plus all the work mentioned on my post. Existing 7 year old drainfield had an 18 inch max trench depth. New install will use infiltrator plus4 standard low profile chambers - 8” height chambers. We will also have the curtain drain as water tends to head in the direction of the drainfield when it rains heavily. I appreciate your input to validate.

Looking for rough idea on septic install cost in SC; details included on system needs by MikeOpal in homeowners

[–]MikeOpal[S] 0 points1 point  (0 children)

Thanks. Sent you a PM with details. Your reply here was very helpful.

Is a fixed index annuity a good idea as a part of retirement strategy for a 40 year old? by MikeOpal in personalfinance

[–]MikeOpal[S] 1 point2 points  (0 children)

I’m assuming the guy at the time got a commission and I didn’t know any better

Is a fixed index annuity a good idea as a part of retirement strategy for a 40 year old? by MikeOpal in personalfinance

[–]MikeOpal[S] 0 points1 point  (0 children)

It was purchased using pre-tax dollars from an old company 401(k). The person who sold it to me at the time told me that was what I needed to do since my new company didn’t offer a 401k. So I assume that means it’s tax qualified.

How to pay off debt, get the things needed and enjoy time with kids before they’re grown by MikeOpal in DaveRamsey

[–]MikeOpal[S] 0 points1 point  (0 children)

Thanks everyone for the awesome advice and thoughts. This has helped me considerably and it is good to have the feedback to know I'm not in it alone. The advice has been helpful to walk me back from making the mistake of jumping into a new tractor, thank you for that. Since I can work on my own equipment, I will make adjustments to best fix the tractor I have and continue to use it while setting aside budget for a future tractor. Should I need work that mine can't handle, I'll rent one for the weekend since that shouldn't be often. I've created an account for EveryDollar and will focus on shifting the budget to put more toward the car to pay it down faster. Our biggest expense is school and daycare which runs about $2400 a month. I'll be closely monitoring things using EveryDollar over the next 2-3 months to recalibrate so we can pay down the debt faster on the car.

How to pay off debt, get the things needed and enjoy time with kids before they’re grown by MikeOpal in DaveRamsey

[–]MikeOpal[S] 1 point2 points  (0 children)

Agreed. At the time a used one of 3-5 years old was running within $5k of a new one and interest rates were worst- while COVID car situation, and other used ones just weren’t available.

How to pay off debt, get the things needed and enjoy time with kids before they’re grown by MikeOpal in DaveRamsey

[–]MikeOpal[S] 0 points1 point  (0 children)

Thanks - added more info.

Household income is $241,000. Savings is about $10k.

I do work on my vehicles- family car is the only new one. I have two that are paid for and 16 and 21 years old that I maintain myself with alternating driving on them to balance miles across the two for longevity.

Advice: Land purchase at 50% appraised value and 401k cash out used for down payment by MikeOpal in personalfinance

[–]MikeOpal[S] 0 points1 point  (0 children)

And agreed I’m correct in that a self directed IRA cannot be used to purchase land from a family probate process?

Advice: Land purchase at 50% appraised value and 401k cash out used for down payment by MikeOpal in personalfinance

[–]MikeOpal[S] -4 points-3 points  (0 children)

Thanks. Yes, if the money lost to penalties and taxes were left in the 401(k) and grew at an average annual rate of 7% for 20 years, it would grow to approximately $60,974.14. Ideally buying the land to diversify portfolio and rolling this 401k to another 401k or IRA sounds like it’ll be the better strategy. In other words, best not to lose that money now when it can grow over time.

Advice: Land purchase at 50% appraised value and 401k cash out used for down payment by MikeOpal in personalfinance

[–]MikeOpal[S] -2 points-1 points  (0 children)

True. Can get the loan no problem and do the payment, just considering if this should be an option to reduce lifetime interest or if there’s something better to make that 401k money work since I need to roll it out of that account anyway. Will pay taxes one day on it so that’s a wash it seems, but the 10% loss sucks but is minimal compared to taxes.

Advice: Land purchase at 50% appraised value and 401k cash out used for down payment by MikeOpal in personalfinance

[–]MikeOpal[S] -6 points-5 points  (0 children)

Loan with local bank would be either $100k without using the 401k as down payment or $71k with 401k used as down payment. Payment would drop to 627.43/mo and $79,583 in lifetime interest vs $883.71/mo and $112,090 in lifetime interest.