jesussaves7763
New member
@twenty15girl Haha good catch. I have bad proofreading skills
Something you do ‘right’ that’s ’wrong’?
- Thread starter jesussaves7763
- Start date
@twenty15girl If you’re in the bracket you’re saying you’re in, you likely can’t deduct the benefit of a traditional from your taxes anyways so you are probably doing your only option. If this isn’t the case for you, then you likely aren’t in a medium high bracket.
twenty15girl
New member
@twenty15girl Yeah looking at my taxes i think i’ll be in the same bracket now in retirement so it doesn’t matter too much either way 
i may just invest roth until 45 then switch to traditional
i may just invest roth until 45 then switch to traditionalthelordismyshepherdloljks
New member
@jesussaves7763 I don’t sweat the small amounts. Will pay for convenience often. the time and energy saved by doing that is put into work. My income has climbed fast enough to outpace that spending as a result.
@jesussaves7763 Bought 2 new cars at relatively the same time. A 2019 and 2021. Realized later that was dumb since we had like 900-1000 a month going towards cars.
But plan now is to ride them both minimum 10 years! Ones paid off and the other will be in max 2 years. 2 reliable cars is an asset.
But plan now is to ride them both minimum 10 years! Ones paid off and the other will be in max 2 years. 2 reliable cars is an asset.
@denadii Owning 2 cars is a huge benefit. One needs to be in the shop for a month? No problem. And I can loan one to friends & family if needed. Big peace of mind booster. I personally paid my first off before getting the second, but if your finances are otherwise good I could see letting them overlap.
scottxbx88
New member
@jesussaves7763 When I was deep in debt , I needed to get out but I could only focus on that nothing else.
So I got a second job and sleep went out of the window, but because I had a plan, I wasnt as tired.
My diet went to shit because I was focused on debt not eating healthy.
My relationships took a hit, because I had nothing to give, since I was giving all to pay off debt.
My kids suffered because mom wasnt as present.
It was worth it, because less than a yr I was free and then could fix one thing at a time and become the best version of myself in every area. Debt was crippling and I had to get rid of it. The small 1 yr sacrifice compared to the joy it gave me was worth it.
So I got a second job and sleep went out of the window, but because I had a plan, I wasnt as tired.
My diet went to shit because I was focused on debt not eating healthy.
My relationships took a hit, because I had nothing to give, since I was giving all to pay off debt.
My kids suffered because mom wasnt as present.
It was worth it, because less than a yr I was free and then could fix one thing at a time and become the best version of myself in every area. Debt was crippling and I had to get rid of it. The small 1 yr sacrifice compared to the joy it gave me was worth it.
jesussaves7763
New member
@scottxbx88 No greater feeling than coming out above on your terms.
@jesussaves7763 Bought a brand new car this past December with a car note around $825/month after down payment.
I’ve wanted an SUV for as long as I can remember. My original plan was to turn in my previous car at the end of its lease (another wrong that was right for me for many years) and then buy said SUV and drive it into the ground. I ended up buying out the lease (and then paying it off a year later, so I had no car payment for 2 years). My husband’s car had been paid off for about 4 years, but it was getting expensive to maintain (gotta love that German engineering) and close to negating his lack of car payment. Earlier last year it started having a major mechanical issue that would have cost more to fix than the car was worth - he squeezed about six more months out of it before he started to feel nervous about running out his luck and agreed to the SUV purchase. We traded his car, and he took over my Honda Accord (2017 with 70K miles, so it has plenty of life left and no car payment).
If I had stuck to my original plan and bought at the end of my lease, I’d have gotten a different SUV and likely ended up with a more reasonable sub-$600 payment, however since then I’d gotten a big promotion + we’d increased our HHI by $100K between the two of us. I had also gone from not contributing to my retirement accounts to maxing them out, and we’d built up 6ish months of expenses into a HYSA and started to fund a brokerage account. We refinanced to a 15-year mortgage at 2.25% at some point in there as well - this did increase our payment, but it was at the same time that we’d reached enough equity for our PMI to drop off and essentially cancel out the increase. I mention this because even tho our housing expenses didn’t really change, we now have 10 fewer years of mortgage payments.
Not to mention I would’ve given up the Honda in that original scenario, so my husband would have needed to buy a new car himself when his went to shit last year. Even if I had a $500-$600 payment, car prices these days would have definitely put us beyond what my actual current payment is.
We are DINKs whose only debt was our mortgage and who have a solid emergency safety net, so I splurged on a sweet ride with all the bells and whistles, and I don’t bat an eye when the payment gets pulled from my account
I’ve wanted an SUV for as long as I can remember. My original plan was to turn in my previous car at the end of its lease (another wrong that was right for me for many years) and then buy said SUV and drive it into the ground. I ended up buying out the lease (and then paying it off a year later, so I had no car payment for 2 years). My husband’s car had been paid off for about 4 years, but it was getting expensive to maintain (gotta love that German engineering) and close to negating his lack of car payment. Earlier last year it started having a major mechanical issue that would have cost more to fix than the car was worth - he squeezed about six more months out of it before he started to feel nervous about running out his luck and agreed to the SUV purchase. We traded his car, and he took over my Honda Accord (2017 with 70K miles, so it has plenty of life left and no car payment).
If I had stuck to my original plan and bought at the end of my lease, I’d have gotten a different SUV and likely ended up with a more reasonable sub-$600 payment, however since then I’d gotten a big promotion + we’d increased our HHI by $100K between the two of us. I had also gone from not contributing to my retirement accounts to maxing them out, and we’d built up 6ish months of expenses into a HYSA and started to fund a brokerage account. We refinanced to a 15-year mortgage at 2.25% at some point in there as well - this did increase our payment, but it was at the same time that we’d reached enough equity for our PMI to drop off and essentially cancel out the increase. I mention this because even tho our housing expenses didn’t really change, we now have 10 fewer years of mortgage payments.
Not to mention I would’ve given up the Honda in that original scenario, so my husband would have needed to buy a new car himself when his went to shit last year. Even if I had a $500-$600 payment, car prices these days would have definitely put us beyond what my actual current payment is.
We are DINKs whose only debt was our mortgage and who have a solid emergency safety net, so I splurged on a sweet ride with all the bells and whistles, and I don’t bat an eye when the payment gets pulled from my account
andrewk292
New member
@jesussaves7763 I save less in my 401K than I should (8% vs the recommended 15%).
I have guaranteed retirement income at around six figures per year, so I choose to put the difference in index funds and a house down payment fund instead.
I have guaranteed retirement income at around six figures per year, so I choose to put the difference in index funds and a house down payment fund instead.
crucifiedxlikexjesus
New member
@andrewk292 Woah there, this is incredibly spicy, you might get run out of the subreddit, crazy man.
andrewk292
New member
@crucifiedxlikexjesus You joke, but I actually did get torn apart for saying that once.
williamhanery
New member
@andrewk292 How did you get guaranteed six figures at retirement? Pension or something like rental properties?
andrewk292
New member
@williamhanery Rentals yes, but not housing properties
williamhanery
New member
@andrewk292 Nice work
andrewk292
New member
@williamhanery Thanks, I’ll pass the props to my dad lol
jesusismyking94
New member
@jesussaves7763 I bought a brand new car that was 2/3 of my income at the time. Barely put any money down because it was a zero interest loan! 8 years later it’s such a reliable car. I still love it every day!
We’re on a ~20 year track for our 30 year mortgage with rates under 3%. We already invest a healthy amount, I know the thing would be to put more in the market. We want a balance of peace of mind as well!
On this track, we would be mortgage free a whole decade before we retire!
We’re on a ~20 year track for our 30 year mortgage with rates under 3%. We already invest a healthy amount, I know the thing would be to put more in the market. We want a balance of peace of mind as well!
On this track, we would be mortgage free a whole decade before we retire!
@jesussaves7763 I rent and will likely keep renting for the next 10 or 15 years at least. Its great.