How positive are you of it lasting enough to net over 5 mill by your retirement?
Need financial debt advice(paying off)
- Thread starter kball
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How positive are you of it lasting enough to net over 5 mill by your retirement?
:lol:
Not confident at all... just playing devil's advocate. The only person who's going to ensure I have a comfortable retirement is me. :beer:
Snowball it! Smallest debt first and attack it. Min payments on everything except the smallest debt paying as much as you can towards this small debt. Easiest to get rid of and it will be the fastest to get it off the books. Sense of accomplishment goes along way. Once that debt is gone roll in the payments to your next smallest debt.
Sell the 26k car. Even if your under water. paying 4k for no car is better than paying 28k(26k plus interest) for a car that will be worth 12k by the time the payments end! If you need 2 cars by a cheap beater for 3-5k.:rockon:
go get it!
depending on where you are going in Germany you won't need two cars. Germany has an awesome public transportation system that really works well and 90% of the time is on time.
I still got a couple of pages to read but I would sell the lower milage car and just take one to germany. then start paying the credit cards down. the trick is going to be not running them back up again.
:lol: :lol: :lol: :lol: :lol: :lol: HOLY SHIT! man send me his contact info. I surely need the sound financial advice form a 27 year old asshat that went bankrupt. No sounder advice can be had ANYWHERE. So far 90% of your advice hass ben full of shit, and while I am no fan of common's for a lot of reasons he is pretty much spot on here.
The fact that the op is leaving soon I would say that Commons plan would be better, since it can be done faster.
Good luck with what ever you do and congrats on the prego!
Good luck with what ever you do and congrats on the prego!
You really went back thru my last five years on here to see what I've bought/sold/built/modded!? :lol:
First of all, lets see, 2007 minus 2003 is 4 years Not 8, YOU DUMB SHYT!
You must have short term memory loss here. Your dumb ass went thru a bunch of trouble finding the actual posts about me modding cars, selling cars, and building motors when your stupid ass could've just looked at what I already posted! Lets recap:
Posted by me on 10/10/2010 at 11:07pm:
Look Junior, I can only speak from my few years of stupidity because I'm on the other side of the fence now looking back over. You on the other hand, I GUARANTEE, are still riddled w/ payments and debt (Your dumb ass is lying)! You're probably some old motherfacker who realizes they've pissed away most of their life w/ nothing to show for it, so you're upset because some people catch on a little quicker than your dumb ass did.
Considering the stock market has AVERAGED an annual growth rate of 11.8% since its inception, I'd say 8% is actually being fairly modest. :read: And look beyond the tip of your nose, dipshyt!
:lol::lol::lol: Here's your answer, "Common.":lol::lol::lol:
Exactly correct.
And I said it's going to be "guaranteed", where? I'm simply saying that's what it'd be if it grew at an 8% rate. Again, considering the history shows an average annual gain of 11.8% (including the drop in 2008), I'd say it's a conservative bet. However, I'll eventually own real estate and other investments as well. I'm not simply relying on the stock market here. Just showing your dumb ass some figures.
True story. Here ya go. :beer: Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan - daveramsey.com
Hrmm....Here's another seemingly successful person who appears to give the same advice I'm giving. I think I'm noticing a trend: People w/ money tend to tell him to sell the cars and get out of debt as fast as he can. Broke people tend to tell him to get himself locked in more car payments...:shrug:
:lol:
-Allegedly buying a truck at 13% interest?...check
-Modding a financed car up until about a year ago or so..........check
-Advising a man to take out a higher interest loan to pay down negative equity?...check
-Not being able to use credit properly judging by your history?....check
-Believing the myth of zero credit score after paying shit off?....check
There hasnt been one thing you said correctly man. Not one realistic, not radical simple advice, you are full of it.
Toodles!:lol:
PS. I'm actually younger than you with ZERO debt outside of my dd that has 18 months left on the term.
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So, how does a dealership afford to pay for the upside down portion of your loan? It can't be that somehow that is part of the new loan? That wouldn't make sense. Dealerships give away free money when they sell their cars. I know this is true because I saw some BMWs at a Mazda dealership.
If you want to get out of debt, get rid of the cars. Driving a cheap car is ALWAYS less money than a new car. Repairs for a $2000 beater do not come anywhere close to the $7200 (600*12) you spend on payments in just one year.
Getting out of debt is the best thing you can ever do for yourself. Knowing that if you lost your job today... you could get a job at Walmart and still keep your house, toys, and feed your family... is great piece of mind.
If you want to get out of debt, get rid of the cars. Driving a cheap car is ALWAYS less money than a new car. Repairs for a $2000 beater do not come anywhere close to the $7200 (600*12) you spend on payments in just one year.
Getting out of debt is the best thing you can ever do for yourself. Knowing that if you lost your job today... you could get a job at Walmart and still keep your house, toys, and feed your family... is great piece of mind.
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The same person that says...
Then says...
Hrmm....I think someone's not exactly being straight forward!!! Who's the liar here, bud?
You're so full of shyt, you stupid child! It's a shame your parents didn't shoot your stupid ass in the face the second you came out of the womb.
Say something different than, "Waaahahhh, you financed a Dakota at 13% interest, waaaahhhh..." No shyt...I think we've covered that, dumb ass. You seem to be affixed to that little fact about as tight as you're probably still affixed to your moms tit, if you're as young as you say you are. I own you, ya little lying twit. :kaboom:
Then says...
Hrmm....I think someone's not exactly being straight forward!!! Who's the liar here, bud?
You're so full of shyt, you stupid child! It's a shame your parents didn't shoot your stupid ass in the face the second you came out of the womb.
Say something different than, "Waaahahhh, you financed a Dakota at 13% interest, waaaahhhh..." No shyt...I think we've covered that, dumb ass. You seem to be affixed to that little fact about as tight as you're probably still affixed to your moms tit, if you're as young as you say you are. I own you, ya little lying twit. :kaboom:
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Sorry, but you really need to stop posting in these threads. You just don't get it and never will, so let people who actually have sound financial advice post.
Is this thread in roadside, cause the attitudes, language and number of insults being tossed around sure makes it look like smackdown.
vote move to SD.
im not mr perfect with debt. I still owe money on my truck
stupid 15K. but thatll be paid off before the end of the year anyway. everything else is paid for. I was raised old school. if you cant buy it in cash (minus a house) you just dont need it. so I try to keep as little debt as possible with still having 2 major ($15,000+ each credit cards) with a balance of a grand or two and pay it off every month or so just to keep credit score high and revolving credit at a good level.
my advise sell the cars, you dont need them that bad. roll whatever it takes into a CC, then pay the smaller amount off first and try to refi the rest into one card with a low rate and work your a$$ off to pay it off..
maybe you have Gap insurance? lol
or you can BK? LOL
im not mr perfect with debt. I still owe money on my truck
stupid 15K. but thatll be paid off before the end of the year anyway. everything else is paid for. I was raised old school. if you cant buy it in cash (minus a house) you just dont need it. so I try to keep as little debt as possible with still having 2 major ($15,000+ each credit cards) with a balance of a grand or two and pay it off every month or so just to keep credit score high and revolving credit at a good level.my advise sell the cars, you dont need them that bad. roll whatever it takes into a CC, then pay the smaller amount off first and try to refi the rest into one card with a low rate and work your a$$ off to pay it off..
maybe you have Gap insurance? lol
or you can BK? LOL
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Op is not upside down on the loan, not even according to the KBB trade in value numbers I ran. He is just about even but the truth is dealership offers are always bellow even the KBB trade in numbers. Facts are dealer will take the car from the OP at the trade in number and make a profit anyway, it's just a matter of how much. The reason dealers sometimes take in barely equitable cars off of people's hands is to get them into something else that has a decent margin of profit. So even if the dealer breaks just about even(which is next to impossible in this case), he will make profit on the vehicle he gets the OP in. It's a win-win, since the dealer gets to make a sale and OP gets to downsize a good amount. Since selling these cars outright is bit complex with liens against them in this economy, his simplest(but no perfect) solution is to downgrade a good bit.
I am about 2 years younger and about 20 years smarter it seems.:lol:
The only thing you own is bunch of bad memories with credit dealings due to your lack of logic, intellect and plain common sense. It must hurt to do basic things with your brain capacity, I bet adding and subtracting can be troublesome at times.....:lol:
ps. I have A payment, not payment/S, you subliterate dork.
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Enlighten me then...What am I missing? Seems to me most of the well-off, debt free people are offering the same advice I am.
The math doesn't add up. The dealership needs to make money to stay in business. The fact that there is enough of a markup that they can still make money doing a trade like this, does not mean that it is a good deal for the customer. It might be a better deal than the original car, but still not a good deal.
No debt in ~1 year is better than no debt in 3-5 years. But I work for a bank, so your bad decisions keep me employed. Please keep it up.
See your nonsense post above about me buying/selling cars (simple subtraction), and we see who really has issues with simple math. That'd be you. :lol:
And no, you do have payments. You also said you didn't have debt. You were caught lying, ya schmuck.
He has issues w/ simple math. Read above for references...
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