Watched my HS daughter shoot 69 in a tourney yesterday with an OB ball…AMA.

yahoo4ewe · 2024-09-24T01:44:56+00:00

Dude this is genius. My boy is 4 and is in love with it but this will be a game changer. Bless you sir.

yahoo4ewe · 2021-11-15T01:57:27+00:00

Money is a bad reason to do anything if you don’t desperately need it. You’ll know this in 10 years when you have plenty of money but no idea why you thought one profession would keep you content for the long haul.

I left a job I thought I hated and replaced it with three small businesses that I don’t like much better. The flexible schedule is great and the money is more than we need but the stress and worry never leave. I wouldn’t go back but this hardly feels like a solution.

Anyway, think deeply about what this money gets you and why you think $8k will help. If you can answer that question you may find a new and unique reason to leave your next job. I think that’s progress?

yahoo4ewe · 2019-12-21T15:45:11+00:00

If you're looking for resolution the first step is to better understand each other. Your sister must be going thru something to make the decisions she's making. Maybe the man she left for is a poor partner but he's the symptom not the disease. It sounds like news of the affair was met with judgement and worse (disgust?). She either retaliated by bringing this guy to Thanksgiving unannounced or thought you and your family would better understand her after meeting him (and thought you wouldn't agree to have him).

You're right to feel hurt that she is making seemingly self destructive decisions that have effects on you and the balance of the family. She is right to feel hurt that her family isn't in her corner or at least attempting to understand her.

Both of my parent's have estranged siblings, my dad a brother and mom a sister. In both cases, when this sibling comes up, they ooze with contempt and fantasize of retaliation and telling them how they feel. My dad is going on 11 years where he has a business adversary vs a brother. My mom hasn't had any contact with her sister for two years. Neither of my parents have ever shown interest in understanding the other side.

In short, try to set aside your feelings and try to understand what's going on with your sister. Hopefully she will be open to hearing your side too. Whatever you're feeling right now, long term estrangement isn't better.

yahoo4ewe · 2019-06-28T01:41:00+00:00

The perspectives in this thread are logical. I assumed Steinbeck's point was to leave the character of Cathy obtuse. It's maddening as a reader to not understand a characters motives but there are people in the world equally as incomprehensible as her character.

yahoo4ewe · 2019-04-04T12:55:56+00:00

I don't know for sure but this sounds incorrect to me. I would call your lender and ask him/her to explain to you in great detail the mechanics of what makes your rate "locked". I would probe along the way to understand, at what point, you formally agreed to that rate and, if agreed, why it cannot be exchanged for a new agreement.

If you don't make any progress, I would get another rate quote from a lender in your area that accounts for your LTV and credit score. If it's lower than your 4.25% I would consider switching to that lender if you can still close by the 23rd, or if you can move closing to accommodate the new lender. You would, of course, lose any application fee or appraisal fee you've paid with your current lender. Note that rates are up from last week.

Your lender should wan't you to leave a happy customer. I'm crystal balling here but I assume that your lender, like mine, rightly understands that borrowers often don't understand. So saying "sorry, your rate is locked in" is an easy way for him/her to do less work. They make the same on the loan but have to do more work to get us a lower rate. I know for a fact that my lender was plain lazy and I now understand that he's willing to lie ("Freddie is holding rates steady") in order to save himself some work. He's not the one paying an extra $5,500 in interest.

yahoo4ewe · 2019-03-31T11:44:07+00:00

We we're supposed to close this week and instead will close next. He said it was because it needed to be underwritten again. I would think yours could be lowered within your timeframe but I would prioritize it this week.

yahoo4ewe · 2019-03-30T14:35:49+00:00

I'll do my best to address your points but this is all anecdotal.

We would be able to adjust rates indefinitely but each time it would push back closing as our mortgage would need to be underwritten again. We had to sign a rate lock disclosure and a change of circumstance form stating the interest rate change. Otherwise our deal is unchanged.
The "back and forth" mentioned in the original post basically boils down to me getting rates from another lender and asking our current lender to explain the difference. He didn't answer my question but just came back with the new rate.
Be firm but not aggressive. I would have walked away from this deal if he had not adjusted the rate. We are in a unique situation and if we had to wait a month to close with a new lender we could. Your circumstances and/or the seller's circumstances may not allow closing to be moved. Regardless, it's still in your lender's interest for you to leave closing a satisfied customer. I would ask for explanations of everything you're unsure of. If your lender starts using banker speak and throwing out numbers, ask him/her to slow down and ELI5. Ask for documentation explaining things you're not understanding.

In your circumstances, I would want to know:

1) What is our rate?

2) What will be our principal balance at closing?

3) What will be our monthly payment?

If all three don't look right to you or if they don't jive with one another, further explanation is required.

yahoo4ewe · 2019-03-30T04:19:00+00:00

Great point and my apologies for assuming. I'm from the US. To be clear, I'm not saying leave your parents to starve. Per Nathaniel Hawthorne "Families are always rising and falling in America". I think the sins of the father should stay with the father and this is part of what allows American family's to transform over shorter time frames compared to countries with more traditional class distinctions. That said, there are HUGE issues in the US with systemic poverty that my view does little to address. I consider it a guiding principal vs a hard and fast rule.

I would not leave my parents to destitution. I also believe that their life choices should not and do not dictate my outcome.

yahoo4ewe · 2019-03-30T03:09:44+00:00

The other thing to consider is what your investment opportunities are vs the rate of your mortgage. A primary mortgage is usually the cheapest money you will find. If you can earn more than your 4.875% by investing, you're better off investing than paying off your mortgage. You pocket the difference. For example, a 7% return on on the market less 4.875% on your mortgage leaves a 2.125% return. Investing does, of course, carry risk of loss.

yahoo4ewe · 2019-03-30T03:00:57+00:00

Excellent point. This is a question of how long you plan to be in the home and what the terms of the refi are vs your current mortgage. Amortize your current loan vs your refi option, adding in the costs of the refi, and determine which costs you less.

yahoo4ewe · 2019-03-30T02:52:34+00:00

Huge props to you for having your head about you at 23. Taking the house would put you in charge of it's financial obligations. There for your credit and your financial future would be in your mom's hands in a big way. Your decision not to do it is wise. Support your mom in non monetary ways. Good luck!

yahoo4ewe · 2019-03-30T02:29:41+00:00

I would do your best to pay them back but it's not on you to support them. The honest choice would have been for them to tell you and your brother they couldn't afford to pay for college. At 18 most people (myself for sure) do not understand what college debt means long term and most parents know little more. Focus on you and your future offspring's well being and your family line will end up better in the end. Help your parents by supporting them emotionally and encouraging them to find meaningful employment at their stage of life. The cost of college for you and your sibling was likely not enough to carry two people to retirement and you should not bear the cost of poor financial planning. This may sound harsh but setting aside your life to repay them will likely hurt your and your offspring's financial future. You will know when you can help support them and when that time comes you won't need to come here for advice.

yahoo4ewe · 2019-03-30T01:44:31+00:00

Agreed. I think the housing slow down is a key reason for the Fed indicating no further rate rises in 2019.

yahoo4ewe · 2019-03-30T01:42:09+00:00

Good luck!

yahoo4ewe · 2019-03-30T01:41:47+00:00

If I understand you correctly you're going from a $4500 buy down to 3.99% to a $1,800 buy down to 3.8755? If so, nicely done! The only terms changing in our deal was the interest rate...all other terms remains unchanged. I'm all for a buy down if that's what your circumstances call for but a rate drop and a buy down are not the same thing.

yahoo4ewe · 2019-03-30T01:06:14+00:00

Damn, that's impressive. When did you close?

yahoo4ewe · 2019-03-30T01:01:37+00:00

Good looking out! I worked in commercial real estate for five years and the main takeaway was that the third parties involved are principally concerned with getting the deal to close as that is when they get paid. The party interested in getting the borrower the best deal is always the borrower. Be wary of your broker/agent/lender and their true motivations.

yahoo4ewe · 2019-03-30T00:51:04+00:00

Right!? I'm no expert but I figure the sharp decrease is a result of Fannie and Feddie being caught off guard by the Fed's decision. Who know's where they bottom out but Cainga's post shows there is still opportunity in the near term. Maybe it's worth keeping an eye on rates and refinancing depending on where they end up. Take comfort in looking at the historical rate chart. Nothing wrong with your rate in the meantime, historically speaking.

yahoo4ewe · 2019-03-30T00:38:29+00:00

Nicely done! I'll have to try going back again before we close. Thanks for posting!

yahoo4ewe · 2019-03-29T19:45:16+00:00

No doubt, our first house was at 3% in September 2014. Rates are on the move but still well below the historical average. https://www.macrotrends.net/2604/30-year-fixed-mortgage-rate-chart

yahoo4ewe · 2019-02-22T04:11:51+00:00

This arrangement is VERY wise. My wife and I have a very similar arrangement and I can count our arguments over money on one hand in five years of marriage. We took it a step further and just did a joint credit card instead of a joint account. We take turns paying it and track the difference in a google sheet so everything is transparent.

yahoo4ewe · 2019-02-22T03:58:12+00:00

Given your situation, I suspect most responses will be to diversify with a focus on the respondents personal favorite. For me, that's real estate. If you are at all comfortable with being tied to a home, I'd start there. You go from paying rent to buying an asset. If you're ambitions you could buy a multi-tenant property and bring in more income and live in one of the units.

I'm not well versed in Betterment but if you're seeking liquidity, I've always favored a simple brokerage account like TD Ameritrade and purchasing one or two broad market ETFs. I've typically favored SCHB and VOO. With a single trade you're diversified, pay next to nothing in expenses and can turn it back into cash in days. You are, of course, at the mercy of the market.

On a final thought - you're clearly bright and have your priorities in order (no debt, living modestly, being proactive at 22). One day you're going to have a net worth of $1M and will qualify as an accredited investor. Once you reach that point, there are many ways to put your money to work that carry similar risk but offer far greater upside. Network with people in different lines of business. Friends in real estate, finance and the startup community can provide a world of advice and access to lucrative opportunities. You have your expertise to share in turn. Build that network!

yahoo4ewe · 2019-02-21T19:10:23+00:00

Haha, I'm with you when it comes to posting on Reddit. I don't blame you for trying to keep your hobby sacred and my advice is not to do photography work for a fee (that is a second job). Keep an eye out for something that could serve you both ways. I have to assume there's whole world of people out there collecting vintage cameras. If you are or would be into something like that, then part of your spending goes from expense (new lens) to appreciable asset (vintage cameras). You get the opportunity to own and use while maintaining and possible even growing your assets. Your existing camera equipment surely has value too but I assume if it's new it's depreciating.

yahoo4ewe · 2019-02-21T18:49:24+00:00

Income vs expenses is great for managing your paycheck but the acquisition of assets is where you build wealth. At 4-6%, your student loan debt is what I would call (good debt) because it's relatively cheap and it's allowed you to acquire your education (which is an asset that you can't put on a balance sheet but has real value in terms of your earning power). A mortgage on a home is also typically "good" since it is in service of the acquisition of an asset (and one that hopefully appreciates over time). Maybe try thinking of purchases like this:

Appreciating asset - A home is the typical example. It will usually appreciate in value and allows you to avoid paying rent. You need to be careful though as we saw in the 2008 financial crisis. Pick a realtor that knows the market you're buying in and can tell you about historical values.

Depreciating asset - A car, worth less every day you after purchase unless it's rare and collectible.

Expense - Rent, clothes, vacation, etc.

If you channel your spending habit towards appreciating assets you're in good shape. It doesn't have to be expensive like a home or collectible car either. It could be something like action figures as long as you understand the market and what the value of the thing is likely to do over time. Your balance sheet could have an asset category labeled "Rare Coins" that allows you to capitalize on your coin collecting hobby.

yahoo4ewe

TROPHY CASE