The Money Mustache Community

General Discussion => Share Your Badassity => Topic started by: clarkfan1979 on November 24, 2017, 10:15:45 AM

Title: I now have 175K in my checking and savings accounts
Post by: clarkfan1979 on November 24, 2017, 10:15:45 AM

My wife and I normally have 30K in our savings and checking accounts. However, this week we have 175K.

I ended up doing a cash-out refi on a rental property. I got a slightly lower rate from 4.7% to 4.625%. My payment increased from $985 to $1575. Rent is $2200/month. I pulled out 145K, so we now have 175K in liquid cash. It felt pretty cool the first week, but now it just feels normal. We are looking at purchasing a primary home with the money. If enough money is left over we will be looking at purchasing a 3rd rental property.

Title: Re: I now have 175K in my checking and savings accounts
Post by: force majeure on November 25, 2017, 01:54:23 AM

Yeah, I had a multiple of that amount in my checking account for a few months. I kept getting calls from the bank about it.
Talk about hassle.
I was researching asset allocations and did not get around to allocating for a while.

Title: Re: I now have 175K in my checking and savings accounts
Post by: Dicey on November 25, 2017, 11:15:23 PM

LOL, our bank has been put on notice to leave us the fuck alone. We do not want to become "Private Clients". We do not want investment advice. We have a plan for the money, and it's none of their business. Sheesh. I feel your pain, man. FWP all the way.