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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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<blockquote data-quote="mc01svt" data-source="post: 16131759" data-attributes="member: 32337"><p>my 2 cents.. take it or leave it</p><p></p><p>a year of savings in a deposit account is way too much. you are losing $$$ every single month due to inflation, money is supposed to flow, it will literally rot away to nothing sitting in a bank account. Inflation is about 1.9% and typical brick and mortar bank accounts pay like .01%. </p><p></p><p>PMI for life? That's nonsense, once you get to 80% LTV you should be able to get it removed entirely or just refinance with another lender if they are unwilling to play ball. PMI is money down the drain every month, it protects the lender but does nothing for you.</p><p></p><p>Also i would not be paying down $500/mo extra towards principal with a sub 4% apr. You would be better off opening a brokerage account and investing so that money so it can work for you overtime and continue compounding. A monkey could literally invest and make more than 4% per year. Heck ford stock is paying like 6% dividends right now.</p><p></p><p></p><p>if the cobra is paid off, id keep it unless you're going to use the funds as capital for investments or a business venture</p></blockquote><p></p>
[QUOTE="mc01svt, post: 16131759, member: 32337"] my 2 cents.. take it or leave it a year of savings in a deposit account is way too much. you are losing $$$ every single month due to inflation, money is supposed to flow, it will literally rot away to nothing sitting in a bank account. Inflation is about 1.9% and typical brick and mortar bank accounts pay like .01%. PMI for life? That's nonsense, once you get to 80% LTV you should be able to get it removed entirely or just refinance with another lender if they are unwilling to play ball. PMI is money down the drain every month, it protects the lender but does nothing for you. Also i would not be paying down $500/mo extra towards principal with a sub 4% apr. You would be better off opening a brokerage account and investing so that money so it can work for you overtime and continue compounding. A monkey could literally invest and make more than 4% per year. Heck ford stock is paying like 6% dividends right now. if the cobra is paid off, id keep it unless you're going to use the funds as capital for investments or a business venture [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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