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JimH wrote: "basskisser" wrote in message oups.com... NOYB wrote: "John H" wrote in message ... On Wed, 23 Mar 2005 14:22:04 -0500, "P.Fritz" wrote: "John H" wrote in message . .. On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. I expect he'll get very mum on this subject shortly. Now he's going to threaten you for bringing his mum into this. You ARE an idiot, aren't you? Just 12 minutes prior to you calling NOYB an idiot you posted this: "I see you still aren't smart enough to debate a subject without childish name calling. " Do you see a problem here Kevin? the only problem I see is my name isn't Kevin. The only other problem I see is the fact that when NOYB, and others are found out to be ignorant of fact, they almost INSTANTLY come up with something like a statement about someone's mother. Do you think that is prudent? Do you think that prudent of a man who thinks he's oh so perfect, an alleged professional? Now please notice that I didn't CALL NOYB a name, like, say....ummm Toothwhore. I simply made a judgement. Now, where were you when JimH, and Fritz were posting lie, after lie about ME? Did you think THAT would be the way someone with intelligence should act? |
NOYB wrote: "basskisser" wrote in message ups.com... P.Fritz wrote: "John H" wrote in message ... On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. Hmm, so, let's see, if I am debt free, ALL of my surplus money can be earning for me. But you won't be debt free for 17 years, and by that time you'll be just a few short years from retirement. Even if you save 75% of your salary for those few short years, you'll have missed out on 17 years of compounding interest. Haven't you ever seen the example where two people contribute $2000/year to their simple IRA for equal number of years? The first guy starts contributing at age 18, and the second guy waits until age 30 to start his contributions. They both contribute the same net amount (I think the example that I saw was $2000 per year for 16 years...meaning each contributed $32000). By age 62, and despite equal amounts of contributions, the first guy has four times as much in his retirement fund than the second guy. If you are still in debt up to your ass, you don't have near the surplus money, because you are paying someone else to use their money. Hell, it's simple, even for you. Also, I see that you still don't have the mental capacity to debate a subject without childish name calling. Pretty pathetic. You mean like calling me stupid? No, I said you were an idiot. I didn't call you Idiot. |
P.Fritz wrote: "NOYB" wrote in message .net... "basskisser" wrote in message oups.com... P.Fritz wrote: "NOYB" wrote in message .net... "P.Fritz" wrote in message ... "John H" wrote in message ... On Wed, 23 Mar 2005 14:22:04 -0500, "P.Fritz" wrote: "John H" wrote in message m... On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. I expect he'll get very mum on this subject shortly. I doubt it, he has been beating his head against the wall about this for months. I think the basic problem (besides him being the "King of the NG idiots") is that if you are in the low end tax bracket, it may not make economic sense. Those in the highest brackets can see the economic benefits clearly. Add to the above.........the choice of paying an extra 200 a month to your mortgage (money taken as income) or to your 401k (pretax).........you take the 200 a month as income, at 33% and you netting 130 to the principal..(likely less than that because of medicare tax and and state and local income tax) .....saving you 2-1/2% of that amount..........in the meantime you could have taken the entire 200 pretax in a 401 or SEP even at a modest return of 5% a year.....you are going to be even further ahead. Ding, ding, ding, ding. We have a winner! The funny thing is that asslciker claims to be self employed.......anybody that is self employed would realize the benefits of the pre tax investment (especially since they raise the limits of the SEP / 401K ) Uh, please, Fritz, show where I've ever said I didn't have any investments? If I am debt free, I'll have more surplus money TO invest, plain and simple. Investing money 17 years from now when your mortgage is paid off will do you very little good. You'll be missing 17 years of compounding interest. You keep forgetting that your house is an investment that continues to grow in value even if you don't pay one dime in principle. Conversely, your pension plan needs a constant influx of money in order to reach a value that can sustain you in your retirement. That boy continues to prove he is dumber than a tree stump "That boy"? And you have the audacity to call someone else dumb? |
"basskisser" wrote in message ups.com... JimH wrote: "basskisser" wrote in message oups.com... NOYB wrote: "John H" wrote in message ... On Wed, 23 Mar 2005 14:22:04 -0500, "P.Fritz" wrote: "John H" wrote in message . .. On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. I expect he'll get very mum on this subject shortly. Now he's going to threaten you for bringing his mum into this. You ARE an idiot, aren't you? Just 12 minutes prior to you calling NOYB an idiot you posted this: "I see you still aren't smart enough to debate a subject without childish name calling. " Do you see a problem here Kevin? the only problem I see is my name isn't Kevin. The only other problem I see is the fact that when NOYB, and others are found out to be ignorant of fact, they almost INSTANTLY come up with something like a statement about someone's mother. Do you think that is prudent? Do you think that prudent of a man who thinks he's oh so perfect, an alleged professional? Now please notice that I didn't CALL NOYB a name, like, say....ummm Toothwhore. I simply made a judgement. Now, where were you when JimH, and Fritz were posting lie, after lie about ME? Did you think THAT would be the way someone with intelligence should act? Pssst....I *am* JimH....and I apologized to you....remember? Now you pledged to stop the name calling. Are you going to break your promise Kevin? |
P.Fritz wrote: "NOYB" wrote in message k.net... "basskisser" wrote in message ups.com... P.Fritz wrote: "John H" wrote in message ... On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. Hmm, so, let's see, if I am debt free, ALL of my surplus money can be earning for me. But you won't be debt free for 17 years, and by that time you'll be just a few short years from retirement. Even if you save 75% of your salary for those few short years, you'll have missed out on 17 years of compounding interest. Haven't you ever seen the example where two people contribute $2000/year to their simple IRA for equal number of years? The first guy starts contributing at age 18, and the second guy waits until age 30 to start his contributions. They both contribute the same net amount (I think the example that I saw was $2000 per year for 16 years...meaning each contributed $32000). By age 62, and despite equal amounts of contributions, the first guy has four times as much in his retirement fund than the second guy. If you are still in debt up to your ass, you don't have near the surplus money, because you are paying someone else to use their money. Hell, it's simple, even for you. Also, I see that you still don't have the mental capacity to debate a subject without childish name calling. Pretty pathetic. You mean like calling me stupid? Once again, asslicker proves why he is te "King of the NG idiots" He is so dense, he will never comprehend the simple economics of the issue. My, my, for someone who thinks I'm dense, you sure seem enamored with me! You never fail to follow me around the newsgroup. |
"basskisser" wrote in message ups.com... NOYB wrote: "basskisser" wrote in message ups.com... P.Fritz wrote: "John H" wrote in message ... On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. Hmm, so, let's see, if I am debt free, ALL of my surplus money can be earning for me. But you won't be debt free for 17 years, and by that time you'll be just a few short years from retirement. Even if you save 75% of your salary for those few short years, you'll have missed out on 17 years of compounding interest. Haven't you ever seen the example where two people contribute $2000/year to their simple IRA for equal number of years? The first guy starts contributing at age 18, and the second guy waits until age 30 to start his contributions. They both contribute the same net amount (I think the example that I saw was $2000 per year for 16 years...meaning each contributed $32000). By age 62, and despite equal amounts of contributions, the first guy has four times as much in his retirement fund than the second guy. If you are still in debt up to your ass, you don't have near the surplus money, because you are paying someone else to use their money. Hell, it's simple, even for you. Also, I see that you still don't have the mental capacity to debate a subject without childish name calling. Pretty pathetic. You mean like calling me stupid? No, I said you were an idiot. I didn't call you Idiot. Un-fricken-believable. |
On 24 Mar 2005 05:27:12 -0800, "basskisser" wrote:
NOYB wrote: "John H" wrote in message ... On Wed, 23 Mar 2005 14:22:04 -0500, "P.Fritz" wrote: "John H" wrote in message . .. On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message roups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. I expect he'll get very mum on this subject shortly. Now he's going to threaten you for bringing his mum into this. You ARE an idiot, aren't you? Well, you did get pretty mum, as far as my responses to you went. -- John H "All decisions are the result of binary thinking." |
"basskisser" wrote in message oups.com... You ARE an idiot, aren't you? Is it necessary to use childish name calling? |
"JimH" wrote in message ... "basskisser" wrote in message ups.com... NOYB wrote: "basskisser" wrote in message ups.com... P.Fritz wrote: "John H" wrote in message ... On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message oups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. Hmm, so, let's see, if I am debt free, ALL of my surplus money can be earning for me. But you won't be debt free for 17 years, and by that time you'll be just a few short years from retirement. Even if you save 75% of your salary for those few short years, you'll have missed out on 17 years of compounding interest. Haven't you ever seen the example where two people contribute $2000/year to their simple IRA for equal number of years? The first guy starts contributing at age 18, and the second guy waits until age 30 to start his contributions. They both contribute the same net amount (I think the example that I saw was $2000 per year for 16 years...meaning each contributed $32000). By age 62, and despite equal amounts of contributions, the first guy has four times as much in his retirement fund than the second guy. If you are still in debt up to your ass, you don't have near the surplus money, because you are paying someone else to use their money. Hell, it's simple, even for you. Also, I see that you still don't have the mental capacity to debate a subject without childish name calling. Pretty pathetic. You mean like calling me stupid? No, I said you were an idiot. I didn't call you Idiot. Un-fricken-believable. THat why he remains "King of the NG idiots" |
"John H" wrote in message ... On 24 Mar 2005 05:27:12 -0800, "basskisser" wrote: NOYB wrote: "John H" wrote in message ... On Wed, 23 Mar 2005 14:22:04 -0500, "P.Fritz" wrote: "John H" wrote in message . .. On 23 Mar 2005 10:57:44 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 09:44:18 -0800, "basskisser" wrote: John H wrote: On 23 Mar 2005 05:01:54 -0800, "basskisser" wrote: NOYB wrote: wrote in message groups.com... But, I thought that you had to get an interest only loan????? The bank was offering me either loan...conventional, or interest-only. I chose the interest only loan over the conventional 30-year fixed, because it gives me the option to pay principal on the loan (but only if *I *decide to do so). Right now, it makes more sense for me to put $25-30k per year away in a qualified pension plan than to pay principal on a home mortgage. In 4 1/2 years, I'll only be 38...and I'll have an extra $6000/mo (before taxes) to put towards principal and/or retirement savings. At that time, I can get a 20 year conventional fixed mortgage, and pay the home off before I'm 60. Yeah, sure, whatever....... basskisser, is that the best you can do when you see a good idea put in place? -- John H No, but you know how NOYB is, no sense in trying to make him think anything other than what he does, says, where he lives, his occupation, his thoughts, and on and on, are anything less than superior to anyone else in the universe. Just ask him! Now, as far as a "good idea", he's admitted himself that he is financially stretched tight. My daughter has commented to me about having a negative balance, on occasion, in my checkbook. To her, who has bounced a check to me, this was really something to 'catch her dad' with. There are times when it is beneficial to one's longer term interests to be somewhat 'stretched tight'. That is not, necessarily, a sign of bad financial management. I financed my house for 15 years instead of 30. The additional payment amount stretched me a little more than I had been, but I think that the long term benefits will be worth the stretch. Ah, now, paying off a loan quickly is right the opposite of an interest only loan! You are purposefully paying off the principal quicker, while he isn't paying ANY of it off. I've got a 30 year fixed, and it will be paid off in 17 years because of extra payments applied directly to the principal. I don't care what anybody says, I don't like being in debt. I don't take out car loans, I save until I have cash to buy a car, therefore I don't pay anybody to use their money. Same principal. Well, once you read my other post you'll see why your idea isn't necessarily the best. If he us using the money he saved on the principle of the home loan to pay off the business loan (with perhaps a higher interest rate) sooner, then it seems as though he's doing a smart thing. Wouldn't you think that he knows more about his finances than you do? A tree stump knows more about finances than the "King" Paying off the house early is like buying a 2-1/2% bond. I expect he'll get very mum on this subject shortly. Now he's going to threaten you for bringing his mum into this. You ARE an idiot, aren't you? Well, you did get pretty mum, as far as my responses to you went. And I wonder is asslciker has stopped beating his wife? ;-) -- John H "All decisions are the result of binary thinking." |
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