UpstateNYUPSer(Ret)
Well-Known Member
Truth be told, that money would be put to better use in your 401k or other retirement fund.
Drivers: What do you do with all your money?
- Thread starter purehavanne
- Start date
Truth be told, that money would be put to better use in your 401k or other retirement fund.
sailfish
Master of Karate and Friendship for Everyone
And I don't have to live like a frivolous cheapskate to do it either. You just have to know what's worth it to you and what isn't.
Exactly. We a have things we enjoy and spend money on. You just can't spend it on everything. I always liked having my own money, I was always a saver.
sailfish
Master of Karate and Friendship for Everyone
Well, I do have a 401k and if I were to put all of that into it, then I would be living like a frivolous cheapskate. Where's the fun in that?
You just need the right balance. But if you lived like a cheapskate for one year and loaded up on your 401k it would be astronomical a few decades from now.
olroadbeech
Happy Verified UPSer
good for you. we are the same way. I was commenting on the general population and not you.
That is why we were able to retire 5 years early because we saved so much. the 97 strike was a wake up call and my parents grew up during the depression. they were a big influence also.
Re-Raise
Well-Known Member
Now that I am one of the "old guys" I can vouch for this. My wife put 8% in her 401k which her employer matched,and I invested in a Trowe Price acct. We didn't really miss it and now 30 yrs later we make more in week off of our investments than we make working. Thinking long-term pays off.
It sure does. I wished somebody would have beat that into me during my early years.
We didn't even have a 401k back then
The Driver
I drive.
Saving for a big house downpayment and contributing to my 401k. I'd love to own my own place outright by the time I'm in my early 40's. I figure with diligence I can make it happen in ten years. Then all the money after that is mine and the bank has zero claim on it.
UpstateNYUPSer(Ret)
Well-Known Member
At this point it might be smarter for you to keep renting and focus on your retirement.
By The Book
Well-Known Member
The bank maybe.....the IRS not so much. Tax write offs are your friend.
olroadbeech
Happy Verified UPSer
you should check Dave Ramsey on that. We saved over $135,000 in interest payments by paying off our house off 13 years early.
Our interest per year was 12-15 grand a year and going down, of course. Our tax savings was about between 3-4k per year but we are investing an extra $17 grand a year now.
The last several years we have been banking the $1450 mortgage payment we use to pay into other investments.
Our pension was only $35k last year but our investments went up about $150k in the same time. Granted, it was a good year and we know that is not going to happen probably with the donald.
R
Ramsey is a butt hole
BakerMayfield2018
Fight the power.
The Driver
I drive.
I'm trying to settle on how much rent is too much rent when I hit top scale. Actually one of the things I care about is being able to have a loud stereo one day. Can't really do that and rent most places.
Brownslave688
You want a toe? I can get you a toe.
He's way too extreme.
There are far advice people could follow.
It's just another getting rich off of people though. Not spending more than you make ain't
ing rocket science. It's more like 3rd grade math.
UpstateNYUPSer(Ret)
Well-Known Member
You may want to reexamine your priorities.
He wants you to live on crackers and water..He's way too extreme.
There are far advice people could follow.
It's just another getting rich off of people though. Not spending more than you make ain't
olroadbeech
Happy Verified UPSer
Live in your car and park down by the river and you can have your stereo as loud as you want.
