Extra cash...invest or pay off loans? - Page 2
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View Poll Results: Extra cash...invest or pay off loans?
Invest 100% 1 3.57%
Invest 75% + Pay loans 25% 0 0%
Invest 50% + Pay loans 50% 3 10.71%
Invest 25% + Pay loans 75% 3 10.71%
Pay loans 100% 21 75.00%
Voters: 28. You may not vote on this poll

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Old 01-26-2011, 04:41 PM   #11
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If that's your thing go for it. Personally I would rather head to a bar, scope out a lonely gal and talk her up, liquor her up and then take her home and fu ... have some fun with her.
Thats too much work and then OMG after 6 or 8 beers. You never know what she is going to look like in the morning.
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Old 01-26-2011, 04:59 PM   #12
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Thats too much work and then OMG after 6 or 8 beers. You never know what she is going to look like in the morning.
Who cares what she looks like in the morning ... after 6-8 beers as long as she looks like Victoria Silvstedt it's all good.

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Old 01-26-2011, 05:37 PM   #13
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Didn't read all the posts so forgive me if I am being redundant but, aside from hookers, the wise choice is to look at opportunitÿ costs. As a CPA my advice would be to pay off any debt that carries interest higher than what you can earn by investing. Be sure to look at the after-tax cost if you can deduct the interest, e.g. Home mortgage, student loan. After all the debt is gone then invest or spend as you like.

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Old 01-26-2011, 05:41 PM   #14
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... the wise choice is to look at opportunitÿ costs. As a CPA my advice would be to pay off any debt that carries interest higher than what you can earn by investing. Be sure to look at the after-tax cost if you can deduct the interest, e.g. Home mortgage, student loan. ...
I agree and I wish it is that simple. However, most investment are a "gamble" and have risks associated with it and the return is unknown.
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Old 01-26-2011, 05:44 PM   #15
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Didn't read all the posts so forgive me if I am being redundant but, aside from hookers, the wise choice is to look at opportunitÿ costs. As a CPA my advice would be to pay off any debt that carries interest higher than what you can earn by investing. Be sure to look at the after-tax cost if you can deduct the interest, e.g. Home mortgage, student loan. After all the debt is gone then invest or spend as you like.
Oh sure just come along and ruin all the fun by posting good solid advice. Kill joy!
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Old 01-26-2011, 05:44 PM   #16
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I would invest half of it, and I would put the other half of it towards the principal on my mortgage.

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Old 01-26-2011, 05:45 PM   #17
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Not owing anything to anybody has increased my KMA factor tremendously.
(for the uninitiated, that's Kiss My Ass)
You SHOULD have some savings- but paying down debt as quickly as you reasonably can gets you more savings.

For anyone in the early years of a mortgage that does not already know this- Say your payment is $1000 a month. At the start of the mortgage, of that $1000, around $980 is interest, and only $20 goes to pay off what you owe (principal). So send them an extra $100 when you have it, marked as principal payment. You just saved yourself 5 mortgage payments. You get the best leverage in the first 6 years of a 30 yr mortgage. If one month you DON'T have a spare $100, don't send it. We paid off a 30 yr mortgage in 9 years like that. At the END of the mortgage, $20 is interest, $980 principal. You want to do this as early as you can.

THEN you can start throwing money in savings. When I bought my last car (used one, in good shape) when the question of financing came up, took out checkbook, said "Simple. I write you a check." No car payment. No balance on credit card. And I have the money to buy toys.

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Old 01-26-2011, 05:48 PM   #18
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And I was always embarassed by the whole "sex for money" thing.


But the ladies kept giving me money.................

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Old 01-26-2011, 05:51 PM   #19
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And I was always embarassed by the whole "sex for money" thing.


But the ladies kept giving me money.................
LOL...major MOJO right there
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Old 01-26-2011, 05:58 PM   #20
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When I bought my last car (used one, in good shape) when the question of financing came up, took out checkbook, said "Simple. I write you a check." No car payment. No balance on credit card. And I have the money to buy toys.
When I bought my new Ford Ranger in 98, my wife was sitting there with the checkbook just waiting for them to give us the total for the check. The fella looks at us and asks if we'd like to finance any of the purchase and we said no. He said if we financed any of the purchase, we'd get an immediate discount of $1000 on the truck. We financed the minimum which I think was $2500, got a grand knocked off the price, and paid the financed amount with the first payment...
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