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.

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.

I don't know NYOB's situation, other than what I've read. I *do* know that he
has given thought to his situation. That, in itself, is more than a lot of folks
do.

His plan makes sense.

There may be those in the universe who have a better occupation, better place to
live, and are better able to express their point of view. From my perspective,
you haven't shown that you are one of them. Of course, that's just my opinion.
--
John H

"All decisions are the result of binary thinking."

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.

I don't know NYOB's situation, other than what I've read. I *do* know
that he
has given thought to his situation. That, in itself, is more than a
lot of folks
do.

His plan makes sense.

There may be those in the universe who have a better occupation,
better place to
live, and are better able to express their point of view. From my
perspective,
you haven't shown that you are one of them. Of course, that's just my
opinion.
--
John H


So, if you pay someone to use their money, ie, a loan, it's superior to
using your OWN money, and not having to pay interest rates? The bottom
line is, if someone is taking money from you month after month, you are
losing money.

On 23 Mar 2005 10:54:06 -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.

I don't know NYOB's situation, other than what I've read. I *do* know
that he
has given thought to his situation. That, in itself, is more than a
lot of folks
do.

His plan makes sense.

There may be those in the universe who have a better occupation,
better place to
live, and are better able to express their point of view. From my
perspective,
you haven't shown that you are one of them. Of course, that's just my
opinion.
--
John H


So, if you pay someone to use their money, ie, a loan, it's superior to
using your OWN money, and not having to pay interest rates? The bottom
line is, if someone is taking money from you month after month, you are
losing money.

I just bought a new car, financed at 3.9%. I could have paid cash for the car,
but instead chose to put the money in a five year CD paying 5%. In this case I'm
paying someone (the credit union) to use its money while it's paying me *more*
to use my money.

Yes, depending on the circumstances, it may be 'superior' to pay for the use of
someone else's money.
--
John H

"All decisions are the result of binary thinking."

"John H" wrote in message
...
On 23 Mar 2005 10:54:06 -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.

I don't know NYOB's situation, other than what I've read. I *do* know
that he
has given thought to his situation. That, in itself, is more than a
lot of folks
do.

His plan makes sense.

There may be those in the universe who have a better occupation,
better place to
live, and are better able to express their point of view. From my
perspective,
you haven't shown that you are one of them. Of course, that's just my
opinion.
--
John H


So, if you pay someone to use their money, ie, a loan, it's superior to
using your OWN money, and not having to pay interest rates? The bottom
line is, if someone is taking money from you month after month, you are
losing money.

I just bought a new car, financed at 3.9%. I could have paid cash for the
car,
but instead chose to put the money in a five year CD paying 5%. In this
case I'm
paying someone (the credit union) to use its money while it's paying me
*more*
to use my money.

Yes, depending on the circumstances, it may be 'superior' to pay for the
use of
someone else's money.
--
John H


And in the case of those of us that are in the higher tier tax brackets,
the tax deduction for the interest on your primary residence make the
borrowed money even cheaper.

A mortgage at 5% has a net cost of 3% in the top bracket.......a point that
constantly goes over asslicker's head.


Another good reason for borrowing.........
I have clients that own many commercial properties.........they are
constantly refinancing the properties (each is an L.L.C.) pulling as much
equity as they can out of them, and distributing it to the partners. In
that way, the L.L.C. has little to no assests in the event of a lawsuit.




"All decisions are the result of binary thinking."

"basskisser" wrote in message
oups.com...

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.

I don't know NYOB's situation, other than what I've read. I *do* know
that he
has given thought to his situation. That, in itself, is more than a
lot of folks
do.

His plan makes sense.

There may be those in the universe who have a better occupation,
better place to
live, and are better able to express their point of view. From my
perspective,
you haven't shown that you are one of them. Of course, that's just my
opinion.
--
John H


So, if you pay someone to use their money, ie, a loan, it's superior to
using your OWN money, and not having to pay interest rates? The bottom
line is, if someone is taking money from you month after month, you are
losing money.


Unless you hit the lottery, then the only way to get rich is on other
people's money. You either inherit it...or borrow it. I'm borrowing it.

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.

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?
--
John H

"All decisions are the result of binary thinking."

"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.


--
John H

"All decisions are the result of binary thinking."

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.
--
John H

"All decisions are the result of binary thinking."