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In United States
Registered Apr 28, 2007
humble, self-depreciating, and damn good looking!
EastCoastBubbleBoy's most recent comments:
- On 21 Feb 2014
U.S. economy will pay big price for student loans,
I agree, and have been saying the same thing for more than a decade. At this point, I've seen both the good and the bad that comes form student loans. For some it was a great investment; others a colossal waste of time and money.
For all practical purposes, compared to a generation ago, 30 is the new 20. The debt burden delays traditional milestones such as marriage, children and house formation.
By the time my loans are paid off, MY KIDS will be taking out college loans of their own!
- On 3 Feb 2014
Can I do more?,
Now here comes the part that most people miss.
I follow your math, but I must be "most people", since I missed something.
traditional 401(k). Invest $10000 pre tax. Pay taxes when money is withdrawn during retirement at who knows what rate
Roth 401(k). Invest that same $10,000 after tax. (Keeping in mind you need to earn more than that to cover the taxes). Pay no taxes when the money is withdrawn during retirement.
(presuming no changes to the applicable tax law between now and then)
Seems to be I'm better off paying now rather than paying later.
@E-man - The bulk of the student loan debt is at 2% so I'm in no hurry. The running joke is that they'll be paid off about the same time my kids are ready to go off to college.
I have about a 6 months emergency fund at the moment.
@KennethCrass - Perhaps that's what bugging me. To whom much is given, much is expected. With some reprioritizing, I could probably be more charitable.
@mell - cutting cable keeps coming up as a viable option. One day we just might pull the plug on that one.
- On 2 Feb 2014
Why not protest prop 13?,
For better or for worse, I'm too busy working to get overly involved. For the moment, politics is nothing more than a spectator sport