Eat Sleep Fish
Jig Master
Pay down that mortage then attack like crazy!
401k returns
- Thread starter Joshm
- Start date
Brownslave688
You want a toe? I can get you a toe.
Why? Interest rates are super low. Better to invest the excess money.
Eat Sleep Fish
Jig Master
I just don't like debt and want it gone as soon as I can. Just me though.
Brownslave688
You want a toe? I can get you a toe.
Debt can be a great wealth driver
Eat Sleep Fish
Jig Master
It could be for the diciplined. I am the only income in my Family so I want it gone. I don't begrudge those who use it though.
Overpaid Union Thug
Well-Known Member
Yeah especially for those of us at 3.25%. But I still find myself figuring the early payoff date on my lender’s mortgage calculator. So tempting.
Eat Sleep Fish
Jig Master
I got locked in at 3.75 when I refinanced. Can't get much better than that now. Just pay a little extra.
Brownslave688
You want a toe? I can get you a toe.
Yep I totally get the appeal but if the goal is to build long term wealth it’s better to invest it.
Rack em
Made the Podium
I plan on buying a house soon and I am hoping to even get a 4.5% rate!
Eat Sleep Fish
Jig Master
Get a 15 year! Or pay a 30 like a 15.
Rack em
Made the Podium
As a single guy, I don't know if I can afford to do a 15 year. I don't want to be house broke.
badpal
Well-Known Member
I can actually remember feeder boys day trading thier retirement accounts and talking about thier latest dot.com stocks. A few still around and still working, so not sure how it turned out. They dont talk stocks anymore.
Yup, I was still in delivery and I remember drivers taking the day off so they could stay home and day trade. Most of them lost their ass when it all went down, but at least they still had a job.
Maple Grove MN Driver
Cocaine Mang!
The ones that lost their ass had no business day trading to begin with
The Driver
I drive.
Since you have experience with this, can you keep adding to your account beyond the $19,000 and just not get the tax benefits? Up to $56,000 I thought.
I think after age 50 you can go to $24,000? As far as I know the max after tax you can do is 5% all year long.
I do 40% and once I hit $19,000 the 5% after tax continues and the 35% stops.
Start a free account with M1 Finance, it's a piece of cake and you set up a portfolio any you want, you can even just mirror your 401k if you're happy with that.
olroadbeech
Happy Verified UPSer
some of the funds are pulling down some good gains but i suggest you don't put all your eggs in one basket especially if you are nearing retirement age.
we have our 401k in 7 different funds. the good equity index funds, the international fund ( 20% ) a REIT index fund 5%. a precious metals index fund , some bond funds and about 15% in the SMA. If there is an eventual pull back in equities then precious metals and other funds go up and make it less painful.
The SMA is mostly blue chip stocks that have high yielding dividends.
we have our 401k in 7 different funds. the good equity index funds, the international fund ( 20% ) a REIT index fund 5%. a precious metals index fund , some bond funds and about 15% in the SMA. If there is an eventual pull back in equities then precious metals and other funds go up and make it less painful.
The SMA is mostly blue chip stocks that have high yielding dividends.
