Discussion in 'UPS Discussions' started by Joshm, Jun 21, 2019.
Pay down that mortage then attack like crazy!
Why? Interest rates are super low. Better to invest the excess money.
I just don't like debt and want it gone as soon as I can. Just me though.
Debt can be a great wealth driver
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.
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.
I got locked in at 3.75 when I refinanced. Can't get much better than that now. Just pay a little extra.
Yep I totally get the appeal but if the goal is to build long term wealth it’s better to invest it.
I plan on buying a house soon and I am hoping to even get a 4.5% rate!
Get a 15 year! Or pay a 30 like a 15.
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.
i put in 4% a paycheck. but i'm getting a house next year so i'll be paying the mortgage 30 years in hopefully 8 years then keep those same payments i was paying to mortgage into 401K, 401K roth , and investments for another 5 years then retire.
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.
The ones that lost their ass had no business day trading to begin with
I hit my $19,000 this week plus an extra 5% every week for the year in after tax.
Nothing but big paychecks the rest of the year!
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.
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.
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