| Rent4Ever
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In United States
Registered Feb 04, 2012
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Rent4Ever's most recent comments:
- On 15 Feb 2013
in
A Fully-Funded Roth IRA At Age 18 Could Net You 3.5 Million Dollars,
Rent4Ever said:
dublin hillz says
In my judgement, Roth IRA is ranked #2 in priority for retirement. First, I would rank the 401K amount that is needed to max out the company match. Then, I would do roth IRA. But only if it does not impede the current lifestyle and ability to save emergency fund and near term expenses that may occur within a 5 year time frame such as vacations, cars, etc.
Yes, free $ is free $. Keep in mind that contributions to a Roth IRA can be withdrawn for any reason at any time with no penalty or tax liability. So if you are eligible for a Roth, you are absolutely crazy not to have your money in a Roth vs. any taxable account. Besides, I would suggest that someone's lifestyle, vacations and cars should not impede on their retirement goals. Not the other way around.
I would also submit that the single best retirement vehicle available today is an HSA account. Money enters the account pre-tax, can be invested in anything like an IRA, and can be used for health related expenses at any point in your life with ZERO tax liability. This is the only vehicle I know of that allows you to contribute $, invest it and let it grow over a lifetime, and then spend that money without ever paying tax on it.
If you don't have health related expenses to spend the money on, after 59.5 you can withdraw from it as if it were a 401k and pay income tax on it to use the $ for non-medical reasons. - On 29 Jan 2013
in
Is the education bubble the mother of all bubbles?,
Rent4Ever said:
The problem is that in many cases, the students are spending someone else's money. "Fake" money if you will. Either their parents money, grant money, loan money, grandma's money, scholarship money, etc. This isn't a free market.
The only way to fix this is to have educated consumers. (Students and parents) Then to have these people DEMAND lower costs and make decisions accordingly. There is no excuse for the increase in education costs. With computers, the cost of higher education should be going down. Period. Students at "Liberal Arts U" will hold protest after protest siding with the Janitors' Union for more benefits and better pay. (Even though ironically this directly comes out of their pockets) But rarely will you see students protest increase in fees, tuition, room and board, etc. - On 29 Jan 2013
in
Is the education bubble the mother of all bubbles?,
Rent4Ever said:
husarsky says
wrong. what can't be paid back WONT! look at default rates skyrocketing. all these people will end up in permanent default, and eventually the government will revise the bankruptcy laws and there will be a mass wave of bankruptcies to follow. there is no other recourse. you can't squeeze blood from a dry turnip. the bankruptcy laws concerning student loans are perhaps the biggest criminal and immoral offenses to come from the banking lobby in the last 10 years. notice how it's the ONLY class of loan that's protected in bankruptcy. no other form of debt has such a privilege. there will be a student default revolt. it has already begun.
Allowing a 20 something to rack up huge debt on their education and then simply declare bankcruptcy, take the sting for 10 years and wake up in their 30's with a clean slate, a bunch of cash and no debt is insane. That's why 30 years ago smart law students did exactly this causing the law to be changed. NEVER going to happen, you have a better chance of the government not backing student loans than you do this ever changing.
I'm pretty tired of hearing about the average student with 20, 30 or 40k in loans and acting as if this is an insurmountable amount of money. "Why do I have to pay this back?" Sorry, but that's the cost of a new car. And when viewed in terms of their lifetime, really not that much money.
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