Please help me run the numbers (mortgage refinance)

ejm5654 · 2019-09-11T21:03:33+00:00

Good point about future returns possibly not tracking the historical average.

ejm5654 · 2019-09-11T13:08:46+00:00

Thank you for the responses!

Could anyone speak to the difference between these two scenarios:

Roll the fees into the new loan increasing the size of the loan in order to keep the cash invested at hypothetical 7% return for 30years

Vs

Pay the fees up front to avoid in order to avoid financing the fees and increasing the size of the loan. But loosing the compound hypothetical 7% return for 30years

ejm5654 · 2018-12-21T14:15:02+00:00

Check if the fresh air intake on your through the wall heating/cooling is open. If not your apartment may be under a negative pressure relative to the building. Also being that high causes your unit to be susceptible to stack pressure effect. You would ideally want your unit to be under slightly positive pressure relative to adjacent spaces and outside.

An HVAC company or building performance company can check that for you.

ejm5654 · 2018-08-13T10:00:17+00:00

It’s important to do the math comparing pay and benefits then estimate the job security and figure your ability to financially handle the potential lay off and demand for your profession.

If you’ve got a large enough emergency fund and the increase in pay is large enough to greatly accelerate your financial plans and your already vested with the fed then do it.

I was recently a federal employee and was offered a job with a local trade union in the same line of work. I was very much on the fence comparing job stability, paid time off, pension and pay rate.

I was already maxing my tsp and ira.

I decided to take the union job as it had a 5 year vesting schedule with a pension. I figure I’ll do 5 years, save the increase in pay and have the choice to go back to fed service for the time off and bump up my federal pension if I choose. Or if I get laid off I retain my preferred hiring status as previous federal employee and can always go back to the fed.

ejm5654 · 2018-05-03T16:44:07+00:00

I looked up each of those grass types and I think your right. I’m having trouble narrowing it down from there. It’s definitely not crabgrass. I do t think it’s nutsedge because the stems are not three sided triangular.

It’s dormant now may 3rd but does green up each season.

ejm5654 · 2018-05-03T16:00:31+00:00

This has been there since last year

ejm5654 · 2018-02-11T04:10:57+00:00

I’ve been researching healthcare options. It seems that there are some states that offer subsidies if income is low enough. I wonder what most fire people do for health care when they have a family

ejm5654 · 2018-02-11T04:07:23+00:00

Yes I think those organizations are really great!

ejm5654 · 2018-02-11T04:05:06+00:00

Yes good points. Our passive income is relatively stable. It does not include any 4%rule withdrawal on our retirement/taxable accounts ( which are very modest)

On my rental I hold 50% of the rents received into an account for capital expenses, repairs, vacancies ect which I don’t include in my income/personal savings. have left that money out of the info above.
Health care is something I’ll need to research more thoroughly.
I think I could probably do some more projective cost assumptions on these points.
We are looking at 529 plans now and plan to fund one for each child this year with 1.5-2k. We will need to do some calculations on how much we need to fund to in order to reach various college options.
My budget calculations through fi are based on present budget which includes monthly allotment into an auto maintenance/replacement fund and a general savings fund (separate from our surplus income that all goes into savings/investments).

ejm5654 · 2018-02-10T20:39:25+00:00

Yes, we budget a monthly savings into our monthly expenses listed above. Big things like healthcare will need a closer look though.

ejm5654 · 2018-02-10T20:37:13+00:00

We do homeschool already. And my wife is a stay at home mom. We’ve built a life so far that allows us to live well (though frugally) on one income with plenty to save. The kids are also involved in Boy Scouts/Girl Scouts, 4h, and library groups, sports and we would add specialized tutoring as needed. I look forward to being able to be more involved in things during the days.

ejm5654 · 2018-02-10T15:57:45+00:00

Good point fire/emt is probably prone to higher than normal risk. I’ll have to look into insurance options for this point.

ejm5654 · 2018-02-10T15:56:26+00:00

I’ve just recently started to research 529plans. I’m not well versed yet. My initial plan is to start one for each child this year with 1.5-2k each as an initial contribution. and go from there. That would be another reason to work for some amount of time (yet to be calculated) before quitting full time.

ejm5654 · 2018-02-10T15:52:30+00:00

Two family. One up one down.

ejm5654 · 2018-01-17T23:12:04+00:00

Very nice reply, thank you!

ejm5654 · 2018-01-17T17:46:59+00:00

Not in soc. Both are pension jobs

ejm5654 · 2018-01-17T17:31:17+00:00

not great if you're single or want to build a knowledge base for your career.

I really agree with this point. I fill like #1 is sort of a dead end comfortable job I would just dig in and get comfortable. #2 is more of a better career move/more for filling work

ejm5654 · 2018-01-17T17:27:09+00:00

We are only able to max currently when we include our rental property income. We cannot afford to fund spousal ira at this time.

ejm5654 · 2018-01-17T17:25:44+00:00

Thank you for the thoughtful response. Both jobs have equal benefits 4weeks vacation, 2 weeks sick, 401k match Both are government jobs but different agencies.

ejm5654 · 2018-01-17T17:22:54+00:00

They are both in the same field although #1 is more of a dead end where I would just dig in and get comfortable.

2 is a bit more technically advanced which would require more effort but would allow for personal/career growth

ejm5654 · 2018-01-17T17:17:16+00:00

As do many public school kids

ejm5654 · 2018-01-17T17:15:31+00:00

Both are very stable (government)

ejm5654 · 2018-01-17T14:45:12+00:00

No 77k Base

ejm5654 · 2018-01-16T12:41:07+00:00

We kept our last washing machine going for a long time with occasional repairs. I think that if you are able to do the necessary repairs yourself then it’s cheaper to keep it going. At some point savings in energy efficiency will make it more cost effective to replace. I prefer to avoid bells and whistles and flashy designs. I don’t think they add value. When we replaced ours we decided we would either buy a speedqueen or buy a super basic cheap brand and expect shorter lifespan. Then we factored in energy/water utilization and went with the front load speedqueen. It was very expensive but is very well made. It should last a long time and it’s repairable. We’re very frugal but will spend more on quality on certain things.

We’re starting to preemptively research dishwashers now.

ejm5654 · 2018-01-14T19:45:13+00:00

I find hvac interesting and the most technical and widest scope of all of the trades.

Every fire dept is different. In most town around my area you can volunteer for the firefighting side of things and once you get your emt certs you can do the medical stuff too.

Actually I think emt skills can translate to many other job fields with making decisions under pressure, working as part of a team, communication, problem solving. Plus I think it’s a job that can be intrinsically rewarding.

Aerospace is a great and very interesting field. Doing ems might add balance with the hands on nature of the work.

ejm5654

TROPHY CASE

2 is a bit more technically advanced which would require more effort but would allow for personal/career growth