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@carolcole Take the current estimated value of the home and subtract how much you still owe on the mortgage for a general idea of how much it impacts your net worth.

@carolcole I find it curious you didn’t list home equity and mortgage value into your figures. Any reason why? I’m guessing because you’re currently near net zero on it?

@sammist A third of their base pay. Officers typically automatically qualify for BAH and BAS so it’s a much lesser percent of their actual take home pay.

@everyman Why do you use the one with the higher fee?

@davidolonge Yes, I’m 100% sure. I think I may have worded what I said poorly. Basically we agree. I am saying that to meet the 15% general advice, he needs to set his base pay to 25% ish or so. I didn’t mean to say that setting it to 15% would be the same as saving 25%.

@resjudicata An alternative question to ask would be: are you flexible and willing to postpone buying a house if the market has a downturn in 5 years? There isn’t anything inherently wrong with investing money with a short time horizon provided you’re flexible in the timeline.

@cheky1818 Yea, but as I said, that technically equates to 25% of base pay since your salary technically includes housing and food already. Of course, if you can’t save that much, 15-20% is still a great start. Make a budget and see if you can live off 75% of base pay. If you can’t, see how...

@cheky1818 The best way is to make a budget. Write down necessary expenses (car, gas, phone, car insurance). Then write down optional expenses (eating out, video games, hobbies). General advice is 15% put away every year towards retirement. Of course that theoretically includes total...

@siesaw23 Switch it all at once to your desired allocation.

@freeyourmindfromthelies Yes, you’re paying almost 8%. How many months are left in the loan?

@nimbus I agree with you. You should 100% make sure the debt is validated as legitimate. Just making sure everyone is aware that you can’t escape a legitimate debt unless it passes some type of statute of limitations.

@nimbus Again, it sucks they didn’t catch it early but if it’s legitimate, you’d still owe it. Best case, you’ll get them to incorporate an improvement into the system to catch these sooner.

@thongcongnghetcucre This won’t erase a legitimate debt.