View Poll Results: A poll
Voters: 107. You may not vote on this poll
How do you pay?
03-26-2008, 05:35 PM
#91
Giant Nontypical
Join Date: Feb 2003
Location: HENDERSON KY USA
Posts: 6,634
RE: How do you pay?
ORIGINAL: davidmil
The bottom line is live within your means. And your means should include something put into savings. I don't care if your income is so low you only have a couple dollars left after food for the family. Put something up and don't let it be for guns and ammo. That's a separate account. I have quite a bit of money put away. I did it when it wasn't always convenient. I did it so I could stop work at 60 and not worry about paying the bills.
The bottom line is live within your means. And your means should include something put into savings. I don't care if your income is so low you only have a couple dollars left after food for the family. Put something up and don't let it be for guns and ammo. That's a separate account. I have quite a bit of money put away. I did it when it wasn't always convenient. I did it so I could stop work at 60 and not worry about paying the bills.
03-26-2008, 05:40 PM
#92
Nontypical Buck
Join Date: Dec 2006
Posts: 2,873
RE: How do you pay?
ORIGINAL: MN/Kyle
Great Idea!
ORIGINAL: bow huntert
I have a checking account I useonly for hunting season during Oct-Jan. I put a small amount in it every week.
I have a checking account I useonly for hunting season during Oct-Jan. I put a small amount in it every week.
03-26-2008, 06:02 PM
#93
Nontypical Buck
Join Date: Jul 2007
Location: Oklahoma City, OK
Posts: 1,184
RE: How do you pay?
ORIGINAL: TFOX
I am with you brother and working on getting there myself.
I like the fact that if a person would take the average car payment they make and saved it in mutuall funds each month like a car paymentthat by retirement age they could retire a multi millionare.
ORIGINAL: robbcayman
For one, if you put your money in a retirement account it is not liquid without a 10% penalty. Thus, you would lose quite a bit of money toobtain it.Also, you do realize that a roth is post tax dollars, right?
If you have the cash to pay off the note the spread you are making still is not worth it IMHO. BTW, most peoplewho borrow on vehicles don't have that amount of money saved. That is the reason they are borrowing money in the first place.
Bringing up the $300k borrowed by the business man is not a fair comparison. You are talking consumer debt versus venture capital debt. I might also add that 80% of businesses fail, and $300k is really rolling the dice. If you want to build a business I would suggest starting out slow and doing it with cash.
Oh well, agree to disagree.
For one, if you put your money in a retirement account it is not liquid without a 10% penalty. Thus, you would lose quite a bit of money toobtain it.Also, you do realize that a roth is post tax dollars, right?
If you have the cash to pay off the note the spread you are making still is not worth it IMHO. BTW, most peoplewho borrow on vehicles don't have that amount of money saved. That is the reason they are borrowing money in the first place.
Bringing up the $300k borrowed by the business man is not a fair comparison. You are talking consumer debt versus venture capital debt. I might also add that 80% of businesses fail, and $300k is really rolling the dice. If you want to build a business I would suggest starting out slow and doing it with cash.
Oh well, agree to disagree.
I am with you brother and working on getting there myself.
I like the fact that if a person would take the average car payment they make and saved it in mutuall funds each month like a car paymentthat by retirement age they could retire a multi millionare.
Even if you have debt just at least get involved with a roth or traditional 401k. At least have a long term game plan, so you don't have to workuntil your 80. My wife's uncle is still working in a warehouse at age 64, because he can't afford toretire on social security. I talked with him and he said he wishes he would have had the vision to put away money when he was younger. I trulyfeel sorry for theman, because his arthritis kills him and heisstill unloading trucks at his age.
The greatest lesson I have learned about money is compound interest is the most powerful force, either working for you or against you.
03-26-2008, 07:20 PM
#94
Giant Nontypical
Join Date: Feb 2003
Location: HENDERSON KY USA
Posts: 6,634
RE: How do you pay?
ORIGINAL: robbcayman
Yeah, if you put the average car payment (like $470 a month) into growth stock mutual funds averaging 12% (which is the stock market avg for the last 70 years) at age 25 to age 65 every month you would have close to $5 million. This is where Dave yells, hope you like thecar LOL!!!
Even if you have debt just at least get involved with a roth or traditional 401k. At least have a long term game plan, so you don't have to workuntil your 80. My wife's uncle is still working in a warehouse at age 64, because he can't afford toretire on social security. I talked with him and he said he wishes he would have had the vision to put away money when he was younger. I trulyfeel sorry for theman, because his arthritis kills him and heisstill unloading trucks at his age.
The greatest lesson I have learned about money is compound interest is the most powerful force, either working for you or against you.
ORIGINAL: TFOX
I am with you brother and working on getting there myself.
I like the fact that if a person would take the average car payment they make and saved it in mutuall funds each month like a car paymentthat by retirement age they could retire a multi millionare.
ORIGINAL: robbcayman
For one, if you put your money in a retirement account it is not liquid without a 10% penalty. Thus, you would lose quite a bit of money toobtain it.Also, you do realize that a roth is post tax dollars, right?
If you have the cash to pay off the note the spread you are making still is not worth it IMHO. BTW, most peoplewho borrow on vehicles don't have that amount of money saved. That is the reason they are borrowing money in the first place.
Bringing up the $300k borrowed by the business man is not a fair comparison. You are talking consumer debt versus venture capital debt. I might also add that 80% of businesses fail, and $300k is really rolling the dice. If you want to build a business I would suggest starting out slow and doing it with cash.
Oh well, agree to disagree.
For one, if you put your money in a retirement account it is not liquid without a 10% penalty. Thus, you would lose quite a bit of money toobtain it.Also, you do realize that a roth is post tax dollars, right?
If you have the cash to pay off the note the spread you are making still is not worth it IMHO. BTW, most peoplewho borrow on vehicles don't have that amount of money saved. That is the reason they are borrowing money in the first place.
Bringing up the $300k borrowed by the business man is not a fair comparison. You are talking consumer debt versus venture capital debt. I might also add that 80% of businesses fail, and $300k is really rolling the dice. If you want to build a business I would suggest starting out slow and doing it with cash.
Oh well, agree to disagree.
I am with you brother and working on getting there myself.
I like the fact that if a person would take the average car payment they make and saved it in mutuall funds each month like a car paymentthat by retirement age they could retire a multi millionare.
Even if you have debt just at least get involved with a roth or traditional 401k. At least have a long term game plan, so you don't have to workuntil your 80. My wife's uncle is still working in a warehouse at age 64, because he can't afford toretire on social security. I talked with him and he said he wishes he would have had the vision to put away money when he was younger. I trulyfeel sorry for theman, because his arthritis kills him and heisstill unloading trucks at his age.
The greatest lesson I have learned about money is compound interest is the most powerful force, either working for you or against you.
You tell people this and they think your crazy,especially right now with the market like it is but the average will play out in the long run.
03-26-2008, 07:26 PM
#95
Nontypical Buck
Join Date: Jul 2007
Location: Oklahoma City, OK
Posts: 1,184
RE: How do you pay?
That is why they call it an average. To me it is weird because when stocks go on sale i.e. the market is down a lot of people want to sell. When the market goes upmore people want to buy. If you do that you are buying when it is high and selling it low. I agree, just ride it out and let it do its thing. Wow, Inever thought I would talk money on a hunting board.
To me it is weird because when stocks go on sale i.e. the market is down a lot of people want to sell. When the market goes upmore people want to buy. If you do that you are buying when it is high and selling it low. I agree, just ride it out and let it do its thing. Wow, Inever thought I would talk money on a hunting board.
03-26-2008, 07:33 PM
#96
Giant Nontypical
Join Date: Feb 2003
Location: HENDERSON KY USA
Posts: 6,634
RE: How do you pay?
ORIGINAL: robbcayman
That is why they call it an average.To me it is weird because when stocks go on sale i.e. the market is down a lot of people want to sell. When the market goes upmore people want to buy. If you do that you are buying when it is high and selling it low. I agree, just ride it out and let it do its thing. Wow, Inever thought I would talk money on a hunting board.
That is why they call it an average.
To me it is weird because when stocks go on sale i.e. the market is down a lot of people want to sell. When the market goes upmore people want to buy. If you do that you are buying when it is high and selling it low. I agree, just ride it out and let it do its thing. Wow, Inever thought I would talk money on a hunting board. 
03-26-2008, 07:35 PM
#97
Fork Horn
Join Date: Feb 2008
Posts: 217
RE: How do you pay?
I am goingto be honest I went bankrupt a few years ago and since then I have been a cash man. I don't need to act like I have a bunch of money I just need to live within my means and than God for giving me a second chance.
03-26-2008, 08:01 PM
#98
Nontypical Buck
Join Date: Sep 2007
Location: Hughesville, PA
Posts: 2,590
RE: How do you pay?
If you want it badly enough......there IS a way to do it. But you can't be afraid to work for it. Nothin's free in this world. The Hoyt dealer is not gonna show up @ your door and say Here, have this brand new Katera on us. Easton won't bang down your door to lavish you w/ arrows. You gotta earn it. It's called sweat. And it's good for ya.
