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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > A goon always pays his debts
 
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Foma
Oct 1, 2004
Hello, My name is Lip Synch. Right now, I'm making a post that is anti-bush or something Micheal Moore would be proud of because I and the rest of my team lefty friends (koba1t included) need something to circle jerk to.
Post or pretax ROTH? I think paying down the 16% interest is going to be better than any Return on investment you are going to make. Some opportunity costs and I would only think to look at it for penalty free money.

* # ¿ Apr 9, 2014 01:12
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# ¿ May 12, 2024 08:21
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Foma
Oct 1, 2004
Hello, My name is Lip Synch. Right now, I'm making a post that is anti-bush or something Micheal Moore would be proud of because I and the rest of my team lefty friends (koba1t included) need something to circle jerk to.
I didn't even realize the cash, why the hell do you have so much cash? Sephiroth_IRA is right dump like 10k + what you can easily take out of your ROTH into the AMEX. Cut spending by $300 a month, maybe a little more. You make a lot of money no reason to have to really sacrifice on righting the ship. Then you are pretty much on smooth sailing to put all this behind you fairly quickly. At which point you should put money back into your ROTH.

Foma fucked around with this message at 01:33 on Apr 9, 2014

* # ¿ Apr 9, 2014 01:27
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Foma
Oct 1, 2004
Hello, My name is Lip Synch. Right now, I'm making a post that is anti-bush or something Micheal Moore would be proud of because I and the rest of my team lefty friends (koba1t included) need something to circle jerk to.

Veskit posted:

Can you guys explain to me why it's a good idea to gently caress with your Roth IRAs to pay down this debt? Isn't that stealing from your future self and setting up a horrific precedent? These seem like great ideas if you're good with money, but however long term doesn't it not solve the problem at heart?


Pulling tons of cash out of the Roth IRA feels like getting gastric bypass surgery without having tried dieting. Yeah it may take longer, but learning to diet and exercise will be better for your well being even though the numbers aren't as good. HOWEVER, gently caress your cash fund you have way too much cold cash to carry that much debt.

Because your average stock market return is 7% and hand is paying 16% on AMEX. He can make a 9% better return on his cash paying down his AMEX then he would keeping it in his ROTH IRA. Being good with money is about efficiency. Also dude has saved up $12k for some unthinkable reason, he isn't doesn't seem like your typical BFC screwup case.

* # ¿ Apr 9, 2014 02:16
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > A goon always pays his debts