Something you do ‘right’ that’s ’wrong’?

[milo]

@snowshard14 YOLO!

 

[tanzanite]

@snowshard14 What percentages are they respectively?

 

[snowshard14]

@tanzanite 4% on the car and all federal at 4%

I see a lot of people saying vacations can wait and to pay down debt which we will not be prioritizing with those interest rates

 

[jojo2]

@jesussaves7763 Prioritized saving for a house over retirement. But it has worked out great so far. Was able to buy at age 29 on a single income of $42k. It'll be paid off in 8 years. Meanwhile I'm now self-employed and able to shovel a large chunk of my income into a solo 401k, so I'm almost caught up on retirement savings. No regrets TBH.

 

[marlenedean]

@jesussaves7763 Bought my house in full/cash when interest rates were at 3-4.5%. I know I could have squirreled that 260k into a HYSE and enjoyed some nice interest as I paid the mortgage off over 30 years, but as someone who's been homeless and have also had housing held over my head from partners and family in the past, the peace of mind was honestly priceless for me.

 

[advancedatom]

@marlenedean Sometimes that peace of mind is worth so so so much more than the interest or whatever return you could've made. No matter what, you'll only ever have to worry about taxes every year. Not having mortgage payments looming, knowing you can squirrel away bits at a time for the annual taxes and such, so you're not facing a huge bill. What a relief

I've said before, even with our taxes being what they are (we total a little under 11k annually for our place), if we didn't have the mortgage payment it would be so easy to handle.

 

[jesussaves7763]

@marlenedean Agreed! I don’t see anyone would prefer to keep a house payment if they didn’t have to.

 

[anewman1993]

@jesussaves7763 If I had put everything in FAANG stocks instead of paying off my house I would be retired now.

 

[milo]

@jesussaves7763 Eh. He’d have a lot of money if he invested that in the market as a whole. Even more if he was aggressive with the top 5-10 companies in the S&P.

 

[sezna]

@jesussaves7763 Some people value money over emotions.

 

[jesussaves7763]

@sezna Yeah and I get that to a certain degree

 

[rigogpu]

@jesussaves7763 My wife and I did the math this year on tax return and to end up with almost 0 return but nothing due when we file it would be $38 a week more income combined.

 

[polcat]

@jesussaves7763 Having too much in my HYSA.

 

[jesussaves7763]

@polcat How much is to much?

 

[polcat]

@jesussaves7763 Just a smidge under six figures.

 

[kimrossie]

@polcat I’m in the multiple six figures.

 

[goneguy]

@kimrossie Can i ask why?

 

[kimrossie]

@goneguy I’ve always been conservative financially. But lately I’ve been making an effort to allocate more towards the markets.

 

[goneguy]

@kimrossie Fair enough! To each their own

 

[jesussaves7763]

@polcat Is something considered an ideal amount?