- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How to plan for big expenses
Posted on 2/9/26 at 8:58 am to Redstickbaw
Posted on 2/9/26 at 8:58 am to Redstickbaw
I use cash value from life insurance loan and pay it back, or heloc, depending on rates. Keep assets earning. OPM for depreciating asset purchases.
0
Posted on 2/9/26 at 9:24 am to Redstickbaw
quote:
Why do you keep six figures in your savings account?
wife's vehicle is 16 yrs old. Roof and all major appliances are as well. When the dam breaks, and it will, I don't want to sell off stock to pay for it. Roof could be 35-40 k easily. (hoping for hailstorm this spring)
Posted on 2/9/26 at 11:37 am to Jmcc64
quote:
When the dam breaks, and it will, I don't want to sell off stock to pay for it.
There are relatively low risk ways to get higher return on liquid “rainy day fund” (vs many savings accounts) without triggering huge tax impact, if need to use fund (auto, roof repairs).
For example, could partition your full 6 figure savings into buckets (need within 1 year, 2-3 years, >3 years) — HYSA, Money Market, perhaps fixed income / medium term duration, respectively.
There are many other ways to do this (eg, CD ladders), depending on your tax situation / taxable account efficiency appetite.
I’m sure there are more experts on here with wider range of wisdom and professional experience.
I just hate to see people not get the most out of their hard earned money. I think you can get more out of yours.
Good luck!
Posted on 2/9/26 at 1:14 pm to Redstickbaw
So we keep six figures in our high-yield savings account. I have a brokerage, but only a fraction of that is in there. In your opinion is a high-yield savings account not a good place for that?
Would like to buy a home soon, which is why I keep it easilyaccessible.
Would like to buy a home soon, which is why I keep it easilyaccessible.
Posted on 2/9/26 at 2:55 pm to Redstickbaw
Instead of having one, large taxable brokerage account, we break our's out into smaller pieces for different things.
For example, we recently purchased a home and had a brokerage account that we used to save for that, we also have one that is use as our travel fund, one for the kids birthday money + a little from us each month, etc.
We don't have a specific one for a car, but if that's important to you, than that's what I would do.
For example, we recently purchased a home and had a brokerage account that we used to save for that, we also have one that is use as our travel fund, one for the kids birthday money + a little from us each month, etc.
We don't have a specific one for a car, but if that's important to you, than that's what I would do.
This post was edited on 2/9/26 at 2:58 pm
Posted on 2/9/26 at 3:12 pm to Redstickbaw
I used to pay cash. In retrospect that was suboptimal but reasonable during that early accumulation stage. Now, I finance at low dealer incentive or credit union rates. I keep my capital fully invested and pay no capital gains (for now.) For other big expenses, there is often a 12 month no interest offer from medical or home improvement providers. Otherwise, I can borrow against brokerage at low rates.
My heirs will get stepped up basis and can pay any remaining debts without paying capital gains tax. Their inheritance will almost certainly be much larger this way.
My heirs will get stepped up basis and can pay any remaining debts without paying capital gains tax. Their inheritance will almost certainly be much larger this way.
Posted on 2/9/26 at 5:09 pm to Ace Midnight
quote:
Budgeting is everything
We always started by maxing all savings/investing accounts. 403b/457/SEP/Roth/529/Coverdell.
We made enough money and were not
Big spenders so we sort of just spent as we went.
We both understood the difference between “want” and “need.” We never spent money we did not have on things we did not need.
This may not work for everyone, but we are doing very well.
Posted on 2/9/26 at 7:15 pm to Redstickbaw
I opened up separate checking accounts with the same bank.
Have one for a vacation condo we have, upcoming car purchase, travel account, checking...it helps me mentally and physically moving the money.
Have one for a vacation condo we have, upcoming car purchase, travel account, checking...it helps me mentally and physically moving the money.
Posted on 2/9/26 at 7:59 pm to lynxcat
Not every LOC I have is unsecured. I have LOCs on damn near anything and everything I can. What it does is allows me maximum flexibility. Easier to have LOCs when I don’t need them then when I need cash for a quick purchase and don’t have it.
Posted on 2/10/26 at 9:09 am to Everyday Is Saturday
quote:
There are relatively low risk ways to get higher return on liquid “rainy day fund” (vs many savings accounts) without triggering huge tax impact, if need to use fund (auto, roof repairs).
For example, could partition your full 6 figure savings into buckets (need within 1 year, 2-3 years, >3 years) — HYSA, Money Market, perhaps fixed income / medium term duration, respectively.
There are many other ways to do this (eg, CD ladders), depending on your tax situation / taxable account efficiency appetite.
I’m sure there are more experts on here with wider range of wisdom and professional experience.
I just hate to see people not get the most out of their hard earned money. I think you can get more out of yours.
Good luck!
Well said. Buckets work.
Posted on 2/10/26 at 12:55 pm to Everyday Is Saturday
bet you were super fun at parties!
Posted on 2/10/26 at 5:18 pm to basiletiger
quote:
bet you were super fun at parties!
I typed all that while naked, snorting Adderal and listening to Beyoncé backwards.
Maxing out money working for you helps replenish the bourbon.
Did all above so can dance on tables until the lights go out. Try it.
This post was edited on 2/10/26 at 5:30 pm
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News