We need a new board


Da_Sperm said:
GOOD. Now mine (401K) is not maxed out, although I keep adding 1% every now and then to get to the maxed out %. Oh how I wish my 401K was maxed out and I could max out my IRA contributions.

My $650/month truck note ends in 6 more payments. I plan to either put all that money into my 401K or on my house note. Its looking like 401K though.

GOOD STUFF MAN.
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Why not put it on the principal of the house note?
 

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Also please make sure if you do business with someone and draw a contract up that it states the guilty party will pay the lawyer fees. Most people don't know that if the contract doesn't state it you want get those fees back. Also make sure they have collateral that you can sue for, because if they don't you will win in court, but you want get your money because they will get it written off.
 
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MsJag4Jag said:
Why not put it on the principal of the house note?
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Because of some reading I did awhile back on savings. Basically, if I put that $650/month on the house note, then I do pay down the principle faster, however 5 years from now lets say I hit rock bottom, get laid off and can't find a job. All it takes is 4 missed mortgage payments, and I lose the house. However, if I put that $650 into my 401K or savings, then 5 years from now, should I hit rock bottom, I at least have some reserves to continue to make my payments on my house to ride out the storm, even if the storm should last 2 years.
 
That's what I would do also.
Da_Sperm said:
Because of some reading I did awhile back on savings. Basically, if I put that $650/month on the house note, then I do pay down the principle faster, however 5 years from now lets say I hit rock bottom, get laid off and can't find a job. All it takes is 4 missed mortgage payments, and I lose the house. However, if I put that $650 into my 401K or savings, then 5 years from now, should I hit rock bottom, I at least have some reserves to continue to make my payments on my house to ride out the storm, even if the storm should last 2 years.
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Da_Sperm said:
Because of some reading I did awhile back on savings. Basically, if I put that $650/month on the house note, then I do pay down the principle faster, however 5 years from now lets say I hit rock bottom, get laid off and can't find a job. All it takes is 4 missed mortgage payments, and I lose the house. However, if I put that $650 into my 401K or savings, then 5 years from now, should I hit rock bottom, I at least have some reserves to continue to make my payments on my house to ride out the storm, even if the storm should last 2 years.
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Sounds great! Do this then. Put $500 in 401k, and $150 on the principal. That hits two birds with one stone, and you pay an extra note or so on the house a year. I remember reading somewhere that you can knock some years off the mortgage by adding a simple $100 to the principal.

What do you think of that?
 
Da_Sperm said:
Why we don't have a FINANCIAL BOARD? We have sports, band, roundtable, smalltalk, garden, technology, media, ect, but we don't have a FINANCIAL BOARD.

Even if we don't have a financial guru, we can learn from each others financial experiences. I don't care if its money, real estate, credit card, interest rates, auto loan, home loan, new articles, etc.

I don't care if its collections, garnishments, 401K, teacher retirement, insurance, etc. We need an on going financial board. I bet we have financial planners, real estate agents, bankers, insurance agents, loan officers all on this board that we can utilize.

Kenn, hook it up. The SWAC people have financial power in America, lets show it.
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This is an excellent idea.
 
Da_Sperm said:
Because of some reading I did awhile back on savings. Basically, if I put that $650/month on the house note, then I do pay down the principle faster, however 5 years from now lets say I hit rock bottom, get laid off and can't find a job. All it takes is 4 missed mortgage payments, and I lose the house. However, if I put that $650 into my 401K or savings, then 5 years from now, should I hit rock bottom, I at least have some reserves to continue to make my payments on my house to ride out the storm, even if the storm should last 2 years.
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Exactly :tup:

They always preach 59.5 years old or longer for retirement.

Yeah right, if it stays there, it stays there.

But if I hit rock bottom, One phone call

Send me my sh@t!!!!!!

Instant bill money for years!!!!!
 
Can't remember her name, oh yeah its Collette (GSUSpirit?). We used her as our real estate agent when we bought our house. We would not have known about her or her business if it wasn't for the SWACPage.

Thats the type of financial networking I'm talking about.
 
ALPHA3 said:
Most of those companies charge you some upfront cost to do this.
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CitiFinancialAuto isn't charging me a thing to do dis.

Also, it is best to try, than sit back and let them get your money instead of keeping the money in your pocket.
 
Da_Sperm said:
Why we don't have a FINANCIAL BOARD? We have sports, band, roundtable, smalltalk, garden, technology, media, ect, but we don't have a FINANCIAL BOARD.

Even if we don't have a financial guru, we can learn from each others financial experiences. I don't care if its money, real estate, credit card, interest rates, auto loan, home loan, new articles, etc.

I don't care if its collections, garnishments, 401K, teacher retirement, insurance, etc. We need an on going financial board. I bet we have financial planners, real estate agents, bankers, insurance agents, loan officers all on this board that we can utilize.

Kenn, hook it up. The SWAC people have financial power in America, lets show it.
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And I nominate you to be a mod :lmao:
 
MsJag4Jag said:
Creflo dollar said the same thing this morning. Some companies won't let ya do that.
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You can do it with your house note and car note.

You just have to call and have it set up

With your credit cards...Of course pay more then the min due each month, but back door at the 15th and make a second payment.
 

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