Payments. Here's my plan
Road Captain
Joined: Feb 2005
Posts: 514
Likes: 0
From: Airdrie, AB
RE: Payments. Here's my plan
Guess I'm 'old fashion', but I don't believe in usingother peoples money(credit), along with paying interest,tomake purchases.
Especially when this credit and interest are being used to purchase items might be considered a 'luxury item', and not necessary for day to day survival.
I just like the feeling of being completely debt free, and not having to worry about currentor future financial obligations.
But that's just my opinion, and opinions vary.
Especially when this credit and interest are being used to purchase items might be considered a 'luxury item', and not necessary for day to day survival.
I just like the feeling of being completely debt free, and not having to worry about currentor future financial obligations.
But that's just my opinion, and opinions vary.
Thread Starter
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Ultimate HDF Member
Joined: Nov 2006
Posts: 5,289
Likes: 3
From: Rowlett, Texas
RE: Payments. Here's my plan
My kids are doing well. My dad is leaving me something when he goes. From what I hear, that should cover my retirement, but it's never enough.
Intermediate
Joined: Apr 2007
Posts: 35
Likes: 0
From: Ohio
RE: Payments. Here's my plan
i hear you loud and clear, dallastx. somehow it never seems like there's enough.
i'd consider myserf pretty fortunate. being only 25, i've been contributing to my 401K at work for as long as i've been eligible and i pay down my student loan (which compared to many of my peers, mine are pretty small) as much as i can. that combined with a car payment (d@mn beater died 3 months before graduation[:@]), it doesn't leave me a whole lot extra to spend on my scoot. by all accounts, i live well, just not well enough to have that brand new RKC.....
well, there's always '08 i guess....
i'd consider myserf pretty fortunate. being only 25, i've been contributing to my 401K at work for as long as i've been eligible and i pay down my student loan (which compared to many of my peers, mine are pretty small) as much as i can. that combined with a car payment (d@mn beater died 3 months before graduation[:@]), it doesn't leave me a whole lot extra to spend on my scoot. by all accounts, i live well, just not well enough to have that brand new RKC.....
well, there's always '08 i guess....
Outstanding HDF Member
Joined: Sep 2006
Posts: 2,334
Likes: 0
RE: Payments. Here's my plan
Ordinarily I always pay loans off early . Hell I paid my house off in 9 years , I was driving a 16 yr car when I did it .
Retirement savings I look at a little differently . If you don't start now when will you and also you lose the power of compounding that only time will give you .
One thing you could do is to start your own self directed Roth IRA .
Its very easy to set it up , you can domost all on line if you want .
Then have monthly contributions taken out of your bank account to fund it ( dollar cost averaging ) .
Heres a good company to deal with http://www.vanguard.com/VGApp/hnw/CorporatePortal
Retirement savings I look at a little differently . If you don't start now when will you and also you lose the power of compounding that only time will give you .
One thing you could do is to start your own self directed Roth IRA .
Its very easy to set it up , you can domost all on line if you want .
Then have monthly contributions taken out of your bank account to fund it ( dollar cost averaging ) .
Heres a good company to deal with http://www.vanguard.com/VGApp/hnw/CorporatePortal
Extreme HDF Member
Joined: Sep 2006
Posts: 10,033
Likes: 29
RE: Payments. Here's my plan
ORIGINAL: joesdad
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo
Intermediate
Joined: Apr 2007
Posts: 35
Likes: 0
From: Ohio
RE: Payments. Here's my plan
ORIGINAL: xxxflhrci
One shouldn't ask for opinions if he doesn't want to hear the good with the bad.
ORIGINAL: joesdad
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo
And as for what you had to say, High Gear, you're right on my wavelength. Opening upRoth is exactly what I was planning to do, as soon as the FED gets off its a$$ and sends out my taxrefund.... [&:]
Road Captain
Joined: Feb 2007
Posts: 696
Likes: 0
From: Charlotte
RE: Payments. Here's my plan
In this day and age, if you only have a car and motorcycle payment you ARE rich! So many people are maxed out on cards and 2nd, 3rd, mortgages, and have personal loans all over the place.
I used to have to have a new truck every 3-4 years but I'm now driving a '97 Chevy that I like just fine. I still have a modest house payment that I pay extra on principle every month and add to my retirement accounts each month with a bank draw.
So I did borrow for my bike through my home equity line but the interest is below 8% and I can pay a little or a lot depending on how business is that month.
First things first, take care of your family and future and then get a toy or two.
I used to have to have a new truck every 3-4 years but I'm now driving a '97 Chevy that I like just fine. I still have a modest house payment that I pay extra on principle every month and add to my retirement accounts each month with a bank draw.
So I did borrow for my bike through my home equity line but the interest is below 8% and I can pay a little or a lot depending on how business is that month.
First things first, take care of your family and future and then get a toy or two.
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Road Master
Joined: Dec 2006
Posts: 1,058
Likes: 6
From: Omaha Nebraska
RE: Payments. Here's my plan
ORIGINAL: joesdad
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo
Many of you guys are pretty insensitive to other folks financial circumstances..to each his own..none of us are going to take it with us you know..pretty smart to live life for today if you ask me..if you are meeting your obligation to your family..your toys are no body elses business..jmo