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educate me 401-k

  1. #2151
    Posting Freak
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    Re: educate me 401-k


    I sold and repurchased AAPL on this latest dip (hopefully it comes back today). I'm tempted to sell all of it on the next uptick, as well as my MSFT, and wait for the whole market to re-align itself. But then I'd miss out on the dividends, and Apple's 5G phone is projected to sell like gangbusters so there's no reason not to expect the price keep rising. But who the hell knows, especially with our frosty relationship with China?

    Tesla feels too risky to me, even though people have made a fortune on it. Just seems like all smoke and mirrors, and the guy at the top is a nutjob. I'd rather play it a little safer with a company that has actual positive revenue and $80BB in the bank.

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    Last edited by Bonk!; 09-04-20 at 08:50 AM.

  2. #2152
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    The last time I had Apple it tanked and took me almost a year to break even. I’m well on track to repeat that this time around too...fingers crossed.

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  3. #2153
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    Re: educate me 401-k

    next time give us a heads up so we can plan accordingly!

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  4. #2154

    Re: educate me 401-k

    in terms of savings accounts as of 9/4/20
    Synchrony: 0.75%
    Capital One: 0.50%
    Discover 0.70%

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  5. #2155
    Super Moderator OreoGaborio's Avatar
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    Re: educate me 401-k

    Ally 0.80%

    I just moved most of my savings from Capital One back over to my Ally. Takes all of sixty seconds on my phone.

    I started the process of opening a Varo savings account which is 1.21 or 2.8 if you met certain requirements but decided to hold off for now till I learn more about em.

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    Last edited by OreoGaborio; 09-04-20 at 05:11 PM.
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  6. #2156
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    Re: educate me 401-k

    I have an Ally CD at 3.0%, which is higher than my mortgage. Wish I had dumped more into that one.

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  7. #2157
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.

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  8. #2158

    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.
    Very impressive. Happy for you sir

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  9. #2159
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Now will you buy a gd truck!

    I'm kidding. Grats on that mark.

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  10. #2160
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by nhbubba View Post
    Now will you buy a gd truck!

    I'm kidding. Grats on that mark.
    That's the plan!

    Got about a year and a half to save for it.

    Having the extra $1300/month going straight into savings will sure help until Elon get's his shit together making the ugliest vehicle ever mass produced.

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  11. #2161
    BMW track whore e30addict's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    That's the plan!

    Got about a year and a half to save for it.

    Having the extra $1300/month going straight into savings will sure help until Elon get's his shit together making the ugliest vehicle ever mass produced.
    Load up on TSLA stock and get there faster. Relative firesale on it now

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  12. #2162
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    Yeah, I’m gonna have to do some dollar cost averaging. Fuck.

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  13. #2163
    Super Moderator OreoGaborio's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by e30addict View Post
    Load up on TSLA stock and get there faster. Relative firesale on it now
    Not gonna say I'm not tempted to jump back in the TSLA pool. I jumped out a couple months back at 1515 which is actually less than it is post split.

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  14. #2164
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    Re: educate me 401-k

    Quote Originally Posted by TheIglu View Post
    Completely debt free. Mortgage paid off without touching the emergency fund last week.

    Happy early birthday to me. This was my 40th birthday goal.

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  15. #2165
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    If you can find the time, watch this.


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  16. #2166
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    My mortgage co marched a rate during the refi that I’d been getting ads for by mail.
    We’re now down to 2.25%, for the remainder of the note.
    I’d say “I don’t know how they can offer rates so low” until you go look at the amortization and see that it’s still close to 100k in interest over this one property...and how many loans do they carry?!

    This business model is something.

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  17. #2167
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by Chippertheripper View Post
    I’d say “I don’t know how they can offer rates so low” until you go look at the amortization and see that it’s still close to 100k in interest over this one property...and how many loans do they carry?!
    The majority of mortgage originators do not carry the loans -- they are bundled, securitized, and sold to large investors.

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  18. #2168
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by number9 View Post
    The majority of mortgage originators do not carry the loans -- they are bundled, securitized, and sold to large investors.
    Right. The business model. Regardless, they’re selling how many loans and claiming their profits on the way?

    I should add that previous loans and refi’s have been different. Once this purchase was made, and that loan passed to my current lender, they’ve extended the rate reduction 2x...I assume to keep my business in house and to keep us from chasing a lower rate somewhere else.

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    Last edited by Chippertheripper; 09-15-20 at 02:13 PM.
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  19. #2169

    Re: educate me 401-k

    Anyone come across any good opportunities to open savings accounts with bonuses?

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  20. #2170
    Lifer loudbeard's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by tsorfas View Post
    Anyone come across any good opportunities to open savings accounts with bonuses?
    Chase has this offer through October 12th, $500 total

    Bonus/Account Information: Checking offer is not available to existing Chase checking customers. Savings offer is not available to existing Chase savings customers. Both offers are not available to those whose accounts have been closed within 90 days or closed with a negative balance. To receive the $200 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; AND 2) Have your direct deposit made to this account within 90 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. Person to Person payments (such as Chase Quickpay® with Zelle®) are not considered direct deposit. After you have completed all the above checking requirements, we'll deposit the bonus in your new account within 10 business days. To receive the $200 savings bonus: 1) Open a new Chase SavingsSM account, which is subject to approval; 2) Deposit a total of $15,000 or more in new money into the new savings account within 20 business days of account opening; AND 3) Maintain at least a $15,000 balance for 90 days from the date of deposit. The new money cannot be funds held by you at Chase or its affiliates. After you have completed all the above savings requirements, we'll deposit the bonus in your new account within 10 business days. To receive the extra $100 bonus: You must open the checking and savings account at the same time and complete all requirements above for BOTH the checking bonus and savings bonus. After you have completed all requirements, we will deposit the remaining bonus due in your new checking account within 10 business days. The Annual Percentage Yield (APY), for Chase SavingsSM effective as of 07/21/2020, is 0.01% for all balances in all states. Interest rates are variable and subject to change. Additionally, fees may reduce earnings on the account. You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. Coupon is good for one-time use. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

    2Account Closing: If either the checking or savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount for that account at closing.

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    Last edited by loudbeard; 09-16-20 at 10:18 AM.
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  21. #2171
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Just got off the phone with Mortgage broker. Right now I am 4.25%, 25ish years left of 30 year. It is not owner occupied, but it could be if I wanted to move back home (doable, but definitely hoops to jump through)

    I can refi as an investment property @ 3.1% with a quarter point ($1k) or @ 2.875% with a full point ($4k). 15 year rates for investment properties are only 10bps lower.
    If I pull off owner occupied, rates were 2.2% for 15 year or 2.5% for 30 year. I would go 15 year and keep just about the same monthly.

    I'm leaning towards the 30 year investment with a full point for a few reasons:
    1) It is the most honest and most convenient.
    2) I don't imagine Boston rental market dropping below my monthly payment, which de-risks this significantly
    3) It is not worth the extra risk for 10bps, I can always pay more each month.
    5) Vacant months become very very very manageable. I currently tuck away that amount in savings each paycheck.
    6) Buying the full point does not make sense from a financial point of view - I can invest the cash and make more. The thing is...will I actually do that?

    Does this pass the NESR sniff test?

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    Last edited by JettaJayGLS; Yesterday at 11:07 AM.
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  22. #2172
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Sure.

    2.2% is simply stunning. If you could wiggle into a 2.x% rate I'd do that and then pay the minimum for the life of the loan. At that kind of cost it seems very easy to find a greater return elsewhere. I personally am not as opposed to carrying debt as some here.

    My situation is radically different than yours. But I just refi'ed into a 2.75% 15 year loan. This extends our payoff date by a little over a year because I had aggressively paid the loan down in the past. I have no plans to pay it down anymore. Instead we are diverting the savings into improving the property. Most of the improvements we have planned are for our own enjoyment although some are to improve property value. I sleep just fine carrying this particular debt. YMMV.

    With your income level I don't think I would mind that debt either. But everyone is different.

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  23. #2173
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Wigglying into the owner occupied means I tell my employer I am moving to Boston, have them write it up for the lender, and potentially adjust my pay. All the time, I'll be keeping a place in SF. I just don't want to lump my employer into this in anyway. Its not a big company. I work really closely with HR on an almost daily basis and its not something I'm comfortable with unless I actually move back to Boston. I might have an unofficial chat with them, but there is definitely a perception (and actuality) of dishonesty I don't want to portray. If I were to do it, I think I would need to actual move back to Boston to feel okay with it. That means flying back and forth to move out of my current apartment, which I really don't want to lose. I've been freeloading in NH since July, but that is a lot simpler than officially moving back to MA.

    The only caveat is that I'm losing my tenant December 1 (could be immediately if I want) and my SF lease is up January 8. So if I were to do it, now is the time.

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  24. #2174
    TWINS! xrocket21's Avatar
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    Re: educate me 401-k

    We just went from 25 left on a 30 year at 4.5 or 4.75% to a 15 at 2.75%. Mortgage payment went up, but the cost savings is immense.

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  25. #2175
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Wiggle was the wrong word there. Was just pointing out my strategy if you were to take that route. I don't pretend to know your salary situation or boston rental market. Just that a 2.x% rate is really easy to live with.

    Not that low 3's changes much of that. This is one of those times where I fall for the 2.99 >>> 3 trick even though it isn't.

    These are great times to borrow money.

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