|
Mango definitely got me thinking about leasing. It’s very enticing to people like me. Thanks, guaranteed. The Vanguard account is more of a long-term savings. I may go half there and half towards mortgage.
|
#
?
Jan 5, 2020 03:08
|
|
|
|
| # ? Jun 13, 2024 07:19 |
|
|
Ultimate Mango posted:M5 Competition I bet you wouldn’t be surprised to hear my dad owns a boat (not seaworthy yet, still working on it), a plane, and an RV. Those projects are on hold right now though. He’s working on installing new solar panels.
|
|
#
?
Jan 5, 2020 03:10
|
|
|
zaurg posted:Mortgage balance is 126k @ 4.25% Wait when did you purchase the condo?
|
|
#
?
Jan 5, 2020 03:21
|
|
|
Last June-ish.
|
|
#
?
Jan 5, 2020 03:25
|
|
|
Loan Dusty Road posted:Wait when did you purchase the condo? Summer 2019
|
|
#
?
Jan 5, 2020 03:31
|
|
|
zaurg posted:I bet you wouldn’t be surprised to hear my dad owns a boat (not seaworthy yet, still working on it), a plane, and an RV. Those projects are on hold right now though. He’s working on installing new solar panels. At some point this isn't believable anymore. But there's still a Florida Man excuse in there.
|
|
#
?
Jan 5, 2020 03:38
|
|
|
guaranteed posted:Eh, I'm not criticizing your choices at all, you're clearly able to afford your luxury item, and I bet it's a blast to drive, I just remembered zaurg thinking about leasing a while back, and I wanted to make sure he wasn't thinking about it now, because he can't really afford it. There are definitely times when leasing makes sense, but I don't think any of them apply to zaurg at the moment. For Zaurg, vehicle leasing is a very bad idea. Turning house equity into a car purchase is also colossally moronic. Save and buy something cheap and trusty. For me, it totally works in many ways. Maybe in three years there will be a bit better range and infrastructure for the battery electric vehicle, which would probably just be a cash purchase. zaurg posted:I bet you wouldn’t be surprised to hear my dad owns a boat (not seaworthy yet, still working on it), a plane, and an RV. Those projects are on hold right now though. He’s working on installing new solar panels. The tick doesn’t fall far from the dog.
|
|
#
?
Jan 5, 2020 03:49
|
|
|
Lol, “those projects are on hold”. I’ve known too many of those guys.
|
|
#
?
Jan 5, 2020 04:11
|
|
|
Florida Prepaid or Florida 529 plan: https://www.myfloridaprepaid.com/resources/prepaid-vs-savings/ I feel like I need to do one of these. Even if just the minimum like the prepaid 1 year university or 529 throw a bit in every month. If I’m planning to help my kids with college anyway, isn’t it smarter to put some money into an investment like these where any earnings are tax-free? I’m making gains in Ally savings and Vanguard mutual funds which are each taxable accounts.
|
|
#
?
Jan 5, 2020 13:05
|
|
|
gently caress me, I hope I don't get probed for effortposting at zaurg, but the hopefully this will at least be of benefit to his kids. The advantage to a 529 plan vs Florida prepaid would be that your kids could use the funds not only for schools outside Florida but also for education-related expenses like dorms, textbooks, meal plans, student fees, etc. Some states offer a credit on your state income taxes for contributions to a 529 plan, but Florida has no state income tax, so there's no tax benefit to you for 529 contributions. (But I'm pretty sure there's also no tax benefit to you for Florida Prepaid either.) The upside, though, is that since there's no tax benefit tying you to Florida's plan, you can actually use any state's 529 plan, not just Florida's. I'm pretty sure from your previous posts that you already have a Vanguard account, if so I would heartily recommend looking into the Vanguard Nevada 529 plan. It's officially sponsored by the state of Nevada but anyone is eligible to join. For one thing, the fees for their plans are around 0.15% vs 0.75% for the Florida 529 - that means you'd be pissing away 5 times as much money each year in management fees with the Florida plan. They even have age-based options like the Target Retirement that you said you're invested in for yourself. (Another thing that's a benefit particularly for you is that it's a $3000 minimum contribution to open a Vanguard 529 plan vs Florida's $250, which would help lock away at least $6000 of that "surplus" you keep looking for ways to spend.) All that said, if you think you're absolutely certain that you'll still be living in Florida when your kids reach college age and you're absolutely certain that they'll want to go to college in Florida, the Florida prepaid may still be a better option. But you definitely get a lot, lot more flexibility with a 529 plan.
|
|
#
?
Jan 5, 2020 13:41
|
|
|
Holy poo poo, nice. Thank you, KL. Moneyball please no probes for KL.
|
|
#
?
Jan 5, 2020 14:51
|
|
|
You can't afford to pay for your kids' college, but putting your money in a 529 plan would at least keep you from frittering away some of the money
|
|
#
?
Jan 5, 2020 15:05
|
|
|
Focus on saving your money for retirement (and then car replacement and mortgage payoff). You are so far behind on that it's laughable that you are even considering anything else.
|
|
#
?
Jan 5, 2020 15:20
|
|
|
sheri posted:Focus on saving your money for retirement (and then car replacement and mortgage payoff). You are so far behind on that it's laughable that you are even considering anything else. Nonono, you just don't get it. Saving for retirement is boring. Investigating new interesting ways to save money ensures the money is not put away in some dumb boring place where it will benefit future-zaurg while retaining some semblance of progress. That way, zaurg can use the money for the much more important fun-category benefitting present-zaurg every time he runs over budget while chasing pennies in front of a bulldozer for a saving target he'll end up discarding 5000 Excels later in two weeks after his next manic period. Hey zaurg, look into saving up for a helicopter. You don't need a helicopter. but it sure would be fun to have one and it cannot hurt investigating how much it would cost to get one. What I am saying is, lease a helicopter now.
|
|
#
?
Jan 5, 2020 16:10
|
|
|
klafbang posted:Nonono, you just don't get it. Saving for retirement is boring. Investigating new interesting ways to save money ensures the money is not put away in some dumb boring place where it will benefit future-zaurg while retaining some semblance of progress. That way, zaurg can use the money for the much more important fun-category benefitting present-zaurg every time he runs over budget while chasing pennies in front of a bulldozer for a saving target he'll end up discarding 5000 Excels later in two weeks after his next manic period. Why just one?? Two helicopters! One each for him and his gf!
|
|
#
?
Jan 5, 2020 16:48
|
|
|
sheri posted:Focus on saving your money for retirement (and then car replacement and mortgage payoff). You are so far behind on that it's laughable that you are even considering anything else. Hey sheri, Please warm up before attempting these mental gymnastics, but here is how I see it right now, please advise. Currently: $2125 per month goes into retirement accounts (401k and IRA). $100 per month goes into long-term savings Vanguard taxable mutual fund. $100 per month goes into Ally savings account. $100 per month goes towards mortgage principal on top of normal monthly payment, which reduces a 30 year mortgage to about 23 years and saves ~26k in interest. $100 per month goes towards car replacement fund (sits in checking account). Now, if I were to take some of the 12k sitting in my Savings account and open two 529 accounts, what's the harm in that? I would maintain the above savings plans. My kids would benefit from this. It would allow me to find another new interesting way to save money instead of leaving it in boring Ally 1.6% savings account and instead sit in an account earning what my mutual fund account is earning but tax-free. I really don't want to buy a boat or horse or helicopter. This is the best alternative. Can you see my line of thought here?
|
|
#
?
Jan 5, 2020 17:09
|
|
|
sheri posted:Why just one?? Then you can race!
|
|
#
?
Jan 5, 2020 17:09
|
|
|
buy the horseboatcopter, zarug
|
|
#
?
Jan 5, 2020 18:18
|
|
|
Xenocides posted:Then you can race! With leasing at prices this low, it is practically losing money not to!
|
|
#
?
Jan 5, 2020 18:22
|
|
|
zaurg posted:Hey sheri, What benefit does a 529 give over leaving it where it is? What are the cons in pulling it out of liquid savings and putting it in a 529? Did you think about either of those two questions yet?
|
|
#
?
Jan 5, 2020 19:14
|
|
|
klafbang posted:Nonono, you just don't get it. Saving for retirement is boring. It sure is. Seeing my net worth increase and my investment incoming is unironically boring as poo poo. It's the goals that it's all leading to that's the good bit (and will fund my jet/helicopter/second set of balls).
|
|
#
?
Jan 5, 2020 19:55
|
|
|
Hi guys. I have a quick question. I've recently been reading about these things where I can either take my dollars from cart-pulling and put them away for my foals' dressage training, or I can pay in advance for the dressage courses in advance. If I pay in advance for them, I get them at today's' rates but whenever my foals want to go as long as they do go. I'm something of a blithering moron, so as long as the apple falls far from the tree (mmm apples) this seems like a good plan. If they are wonderfully far from the tree (are there ants on the tree? ants scare me) and my foals qualify for schools outside the swampland, then they get the credits back at cash value with no gains. There might be a penalty too, but it's probably less than I was going to spend on horseshoes and salt licks, so maybe I shouldn't care. On the other hoof, I can put in post-tax money and let it grow at a slower rate than the cost of dressagucation, and still get a penalty if my foals share my intellectual prowess and thus drop the average IQ of glue. This penalty is still less than I spend on unnecessary garbage like combs, sugar cubes, and ex-fillies. On the third hoof (the benefit of being a horse), I am so bad with money that maybe I should just pay down my debts with all these extra dollars I found in the haybuffet. My fourth hoof is in my mouth, so let's not discuss that one. What do you think? And should I pay for the fancy feather plumage in advance too? Or maybe wait on that until I know what my foals are interested in?
|
|
#
?
Jan 5, 2020 21:48
|
|
|
Zaurg But A Horse posted:Hi guys. I have a quick question. I've recently been reading about these things where I can either take my dollars from cart-pulling and put them away for my foals' dressage training, or I can pay in advance for the dressage courses in advance. If I pay in advance for them, I get them at today's' rates but whenever my foals want to go as long as they do go. I'm something of a blithering moron, so as long as the apple falls far from the tree (mmm apples) this seems like a good plan. If they are wonderfully far from the tree (are there ants on the tree? ants scare me) and my foals qualify for schools outside the swampland, then they get the credits back at cash value with no gains. There might be a penalty too, but it's probably less than I was going to spend on horseshoes and salt licks, so maybe I shouldn't care. Put it all on Bit(andBridle)Coins, zaurghorse JosephWongKS fucked around with this message at 22:05 on Jan 5, 2020 |
|
#
?
Jan 5, 2020 21:56
|
|
|
Budget so that your foals can have pizza at $3 per slice.
|
|
#
?
Jan 5, 2020 22:29
|
|
|
Better spend it on yourself. A foal and his money are soon parted.
|
|
#
?
Jan 5, 2020 22:40
|
|
|
OAT FUTURES
|
|
#
?
Jan 5, 2020 23:10
|
|
|
Moneyball posted:Better spend it on yourself. A foal and his money are soon parted. 
|
|
#
?
Jan 5, 2020 23:12
|
|
|
random note: My condo’s pool is heated. Thank heavens, it was 57 F this morning brrrrrrrrr.
|
|
#
?
Jan 5, 2020 23:20
|
|
|
Known Lecher posted:gently caress me, I hope I don't get probed for effortposting at zaurg, but the hopefully this will at least be of benefit to his kids. Yes, surely this time he will listen.
|
|
#
?
Jan 5, 2020 23:43
|
|
|
Weatherman posted:Yes, surely this time he will listen. Surely this time goons will stop posting.
|
|
#
?
Jan 5, 2020 23:58
|
|
|
Why is the college thing coming up again? You're too poor to pay for your kid's college. They can get loans for school but nobody will give you a loan to retire.
|
|
#
?
Jan 6, 2020 01:37
|
|
|
n8r posted:Why is the college thing coming up again? You're too poor to pay for your kid's college. They can get loans for school but nobody will give you a loan to retire. Look @ this guy that hasn't heard of a reverse mortgage.
|
|
#
?
Jan 6, 2020 01:39
|
|
|
Zaurg But A Horse posted:Hi guys. I have a quick question. I've recently been reading about these things where I can either take my dollars from cart-pulling and put them away for my foals' dressage training, or I can pay in advance for the dressage courses in advance. If I pay in advance for them, I get them at today's' rates but whenever my foals want to go as long as they do go. I'm something of a blithering moron, so as long as the apple falls far from the tree (mmm apples) this seems like a good plan. If they are wonderfully far from the tree (are there ants on the tree? ants scare me) and my foals qualify for schools outside the swampland, then they get the credits back at cash value with no gains. There might be a penalty too, but it's probably less than I was going to spend on horseshoes and salt licks, so maybe I shouldn't care. 
|
|
#
?
Jan 6, 2020 03:16
|
|
|
n8r posted:Why is the college thing coming up again? You're too poor to pay for your kid's college. They can get loans for school but nobody will give you a loan to retire. Not an empty quote. Why anything other than paying off debt or retirement/investments comes up I have no idea.
|
|
#
?
Jan 6, 2020 03:32
|
|
|
You have no idea why I would consider putting money into an investment account for my kid’s future college expenses?
|
|
#
?
Jan 6, 2020 04:04
|
|
|
zaurg posted:You have no idea why I would consider putting money into an investment account for my kid’s future college expenses? Consider shutting your pie hole, zaurg
|
|
#
?
Jan 6, 2020 04:35
|
|
|
I love the parts when everyone is talking about a thing and zitshit tries to act like he understands but further proves how dumb he is.
|
|
#
?
Jan 6, 2020 05:29
|
|
|
zaurg posted:You have no idea why I would consider putting money into an investment account for my kid’s future college expenses? Time Value of Money. What you are talking about is effectively long term options trading but for your kids education. Just pay for school when or if or where they go to school. Do easier and smarter things with your money between now and then. Start by budgeting for their education now. Estimate what you think you will need for each of them and when. Divide that by the number of months between now and then. Put that number in your monthly budget with the timeframe and amount for that purpose.
|
|
#
?
Jan 6, 2020 07:37
|
|
|
Ultimate Mango posted:Time Value of Money. It looks like you're trying to explain budgeting to him, but I'm pretty sure he physically can't.
|
|
#
?
Jan 6, 2020 12:53
|
|
|
|
| # ? Jun 13, 2024 07:19 |
|
|
Ultimate Mango posted:Time Value of Money. Mango I’m sorry I don’t understand any of this. I read it like one contradiction after another. 529 doesn’t seem like some complex thing, or at least no more complex than it was to open a Vanguard IRA. Anyway, my kids will most likely be relying on loans/scholarships when they go to university. I agree with most here that I just don’t have room in my budget for college savings. I will just scrap this idea and keep focusing on savings for me, which in the long run helps my kids.
|
|
#
?
Jan 6, 2020 12:58
|
|