Comments on: A Saver Checklist + Tips!

By: J. Money

J. Money — Wed, 06 Mar 2019 11:15:00 +0000

In reply to Lauren.

Hmmm… can’t say I’m aware of any cap stuff or home owner tax stuff since I rent, but it wouldn’t surprise me if it’s all wonky right now with everything going on :( Shouldn’t change your reasons for owning a home or investing in multiple IRAs I wouldn’t think? Since you don’t do those for tax reasons primarily? (or even secondarily?)

By: Lauren

Lauren — Mon, 04 Mar 2019 20:48:16 +0000

It seems that (especially in high property tax states) it’s becoming better NOT to own a home. !! We basically lost all our tax credits for home ownership and the money you are putting into your home could possibly be better off put into investments (although rent is high here too…)

Along the subject of taxes– My tax professional mentioned if you have several IRAs, etc it affects your deductions. I haven’t had time to research yet but something about the caps affecting one another and you have to use the lowest cap for the year?

By: J. Money

J. Money — Fri, 01 Mar 2019 14:56:39 +0000

In reply to Katherine Williams. Not a bad idea :) Marking on my "ideas" list!

By: J. Money

J. Money — Fri, 01 Mar 2019 14:55:56 +0000

In reply to lisa.

Such a great little portfolio though!! And these tips are more for *individual* savings/debts too vs “businesses” – at least from my perspective – so I think you’re fine :) Actually MORE than fine!

By: J. Money

J. Money — Fri, 01 Mar 2019 14:54:09 +0000

In reply to Adam.

But then the light energy will offset it!! :) Very cool about the tankless water heater though…

Too funny you made a Roth deposit in honor of Bogle, haha…

By: J. Money

J. Money — Fri, 01 Mar 2019 14:52:35 +0000

In reply to David. Love it! We need as much help as we can get in our community!

By: J. Money

J. Money — Fri, 01 Mar 2019 14:51:55 +0000

In reply to Paul.

Oh wow – that’s wild! But I totally believe it…. We do a lot of things we probably shouldn’t out of habit or what we’ve been taught over the years… I’ll see if I can find our manual when I get home today! But I can’t say I’ve ever seen one before, haha…

By: Katherine Williams

Katherine Williams — Wed, 27 Feb 2019 23:59:49 +0000

Why not make the backwards Google Sheet so it is live? Everyone can view and check back on it as you add to it overtime.

Thanks for the list.

By: lisa

lisa — Wed, 27 Feb 2019 19:36:13 +0000

J- Actually, you got 14/15….Since you don’t own a home, you can check off the last 2 items as they’re done, or N/A or whatever.

I got 12/15….A ways to go yet but it’s a work in progress….I dunno if we’ll pay off the home before retiring as we have 2 mortgages (own a rental property, mortgage a rental and mortgage a home). We will probably pay off the rental mortgage in 5 years, but not the home. We’d have to sell a property to get rid of the home mortgage.

By: Adam

Adam — Tue, 26 Feb 2019 21:24:39 +0000

Well, I don’t regularly contribute to an IRA ($250 to a Roth in Mr. Bogle’s honor last month; before that not since 2016). But we do max out our 401k plans, so that helps. Otherwise, according to that checklist, we’re in great shape. And we just had a tankless water heater installed last week, to be switched on TOMORROW when Washington Gas comes out to connect our line; I’m looking forward to slashing our energy bills!

…and I think after this detergent talk I’ll install a light fixture above our washing machine. The basement is pretty dark around there, and I’m sure I invariably put in too much detergent just because I can’t see the markings that clearly. oops.