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UPS Retirement Topics
401k for dummies?
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<blockquote data-quote="olroadbeech" data-source="post: 2195964" data-attributes="member: 52145"><p>sorry bout that. i assumed you were speaking of using your 401k from post #61.</p><p></p><p>we made extra principal payments on our mortgage for quite awhile, put the tax refunds towards it also and paid it off in 17 years instead of 30 and saved over 125k in interest payments. saving 125k is like earning 125k so that's a good investment.</p><p></p><p>also had cash in savings covering 12 months for bills in case of an emergency. started that years and years ago with just a 3 month emergency fund and worked up to 12. never touched it for anything. not pessimistic just pragmatic. there is a difference.</p></blockquote><p></p>
[QUOTE="olroadbeech, post: 2195964, member: 52145"] sorry bout that. i assumed you were speaking of using your 401k from post #61. we made extra principal payments on our mortgage for quite awhile, put the tax refunds towards it also and paid it off in 17 years instead of 30 and saved over 125k in interest payments. saving 125k is like earning 125k so that's a good investment. also had cash in savings covering 12 months for bills in case of an emergency. started that years and years ago with just a 3 month emergency fund and worked up to 12. never touched it for anything. not pessimistic just pragmatic. there is a difference. [/QUOTE]
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