- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Can you save too much??
Posted on 5/28/16 at 10:20 am to rpg37
Posted on 5/28/16 at 10:20 am to rpg37
quote:
Save for a house with 20% down.
I see this constantly on TD, and having grown up in bluer color circles, I have never known anyone to put 20% down on the first house.
Don't consider savings, savings, consider it paying yourself first. Before you spend, pay yourself.
My retirement goal is to die before I retire. (only half kidding, lol)
1
Posted on 5/28/16 at 10:43 am to Napoleon
quote:
Save for a house with 20% down. I see this constantly on TD, and having grown up in bluer color circles, I have never known anyone to put 20% down on the first house. Don't consider savings, savings, consider it paying yourself first. Before you spend, pay yourself.
In my market the median priced home is 400k and has increased over 10% in the past 12 months. We expect another 5-7% increase over the next 12 months.
I won't say its a bad idea to save 20% down for a house, but if your market mirrors mine in any fashion, it may potentially be more expensive.
Posted on 5/31/16 at 8:21 am to Tiger4life306
quote:
It's not for a couple in their 20s unless you believe the tax rate is going to decrease in 25+ years LOL
Several things to this:
1) Nobody knows what future tax rates will do
2) You don't know their future career plans. They might have plans to take lower paying, less stressful jobs at some point
3) You don't know if they plan on going to a single income if they have kids
4) you don't know what level of retirement income they would want to have. if someone knows they will be living on a retirement income well below the working salaries, the Roth isn't such a good idea.
You can't just make blanket statements that Roth is for young people.
Posted on 5/31/16 at 9:20 am to notsince98
quote:
notsince98
Based off his current situation that he described Roth is what I would do if I were him. (I obviously don't know what the future tax rate will be but my gut tells me it will be higher in the future, call me crazy for thinking that)
When changes in your life happen, which they will, his investment vehicles and decisions will change as well. It's not a set it and forget it. This is something they will need to revisit at the very least annually. My advice was based off his current situation, not a blanket advice for everyone reading the boards or for him for the next ___years.
If changes in his life happen i.e. salary, job change, kids, lifestyle, etc. etc. then yes his investment decisions are obviously going to need to change as well.
Posted on 5/31/16 at 10:03 am to Tiger4life306
quote:
When changes in your life happen, which they will, his investment vehicles and decisions will change as well. It's not a set it and forget it. This is something they will need to revisit at the very least annually. My advice was based off his current situation, not a blanket advice for everyone reading the boards or for him for the next ___years.
If changes in his life happen i.e. salary, job change, kids, lifestyle, etc. etc. then yes his investment decisions are obviously going to need to change as well.
You don't wait for changes to adapt your investing strategy if you know the changes are coming.
Posted on 5/31/16 at 10:23 am to notsince98
Lol, whatever man.
You don't always know the changes are coming.
Dissect it however you wish, you should stay on top of your finances whether you have the ability to predict the future or not.
You don't always know the changes are coming.
Dissect it however you wish, you should stay on top of your finances whether you have the ability to predict the future or not.
Posted on 5/31/16 at 10:29 am to LSUTOM07
quote:
Can you save too much??
well this is about as subjective as a question can get....
Posted on 5/31/16 at 10:31 am to notsince98
quote:
You can't just make blanket statements that Roth is for young people.
honestly a balance between roth and 401k style investments is probably the best. You don't know what the future holds, its pretty easy to diversify retirement accounts. And they each have their advantages.
Posted on 5/31/16 at 12:15 pm to Hawkeye95
quote:
honestly a balance between roth and 401k style investments is probably the best. You don't know what the future holds, its pretty easy to diversify retirement accounts. And they each have their advantages.
I agree unless you have a lot of your future decisions already set in stone somehow.
Posted on 5/31/16 at 2:21 pm to notsince98
quote:
I agree unless you have a lot of your future decisions already set in stone somehow.
that would be really shitty planning IMHO.
Posted on 5/31/16 at 3:44 pm to Hawkeye95
quote:
that would be really shitty planning IMHO.
Could be. Could be really good. every situation is different.
Posted on 6/1/16 at 11:18 am to lynxcat
quote:
Food is on the low end for a young couple.
Definitely, especially if you have any sort of social life.
Page 3 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News