On 24 Mar 2005 09:07:41 -0800, "basskisser" wrote:


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 did not bring up your mum, I did. I meant no insult or anything derogatory
towards your mum. I meant *you* were going to be 'mum' with regard to my posts,
which you pretty much were.

Nowhere have you shown NOYB to be ignorant of fact. You have, conversely, shown
yourself to be ignorant of the facts upon which NOYB makes his financial
decisions.
--
John H

"All decisions are the result of binary thinking."