Paying off everything off while young | Page 3 | TigerDroppings.com
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theBeard
LSU Fan
Golf Tech Board
Member since Jul 2011
6485 posts

re: Paying off everything off while young

king, what are you looking to do? I might know a few people in BR.


braindeadboxer
LSU Fan
Utopia
Member since Nov 2011
5015 posts

re: Paying off everything off while young
quote:

theBeard


ygm
This post was edited on 11/4 at 8:20 am


theBeard
LSU Fan
Golf Tech Board
Member since Jul 2011
6485 posts

re: Paying off everything off while young
replied you can edit if needed


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CP3LSU25
LSU Fan
Lafayette
Member since Feb 2009
36830 posts

re: Paying off everything off while young
quote:

Never thought I'd have Dubai, Sydney, Melbourne, Phuket, New Zealand, Tokyo, and Shangai crossed off the list before my 27th birthday !


That's awesome. Which was your favorite.


RedStickBR
LSU Fan
Member since Sep 2009
10228 posts

re: Paying off everything off while young
The benefits of having 300-400k compound for more years would likely offset the benefits of having your house paid off, particularly in this historically low interest rate environment.

Use some to put a nice downpayment on a house (20-30%). Let the rest compound forever.
This post was edited on 11/4 at 9:07 am


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kingbob
LSU Fan
Sorrento, LA
Member since Nov 2010
23827 posts

re: Paying off everything off while young
I'm graduating in CM in the spring. I'm looking to do industrial construction or oil & gas. Staying in South Louisiana is a big plus (my SO is a year behind me in school), but going overseas for a big payday is certainly alluring. I generally prefer to either be out in the field or in an office job where I frequently visit the field because I'm a social person who gets antsy when cooped up in an office by myself.

I've applied, at least, to most every company in town and probably interviewed with most of them. I already have a decent offer on the table in Houston, but it's not working in industrial and it's a job that would keep me in Houston indefinitely.


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FootballNostradamus
Clemson Fan
Member since Nov 2009
15256 posts
Online

re: Paying off everything off while young
quote:

That's awesome. Which was your favorite.


Would be hard to really narrow it down to any one.

To live for a while - Melbourne - Sydney gets the hype, but Melbourne is unreal

To go to rage - Shanghai - Vegas is a snoozefest compared to this place, seriously

To go for a honeymoon - Phuket - Literally the place is a screensaver, it's incredible

To go to retire - New Zealand - If there were any sort of jobs there I'd never leave, most unbelievable country ever

To go shopping - Dubai - I don't even really like shopping, but damn that place has everything.


CP3LSU25
LSU Fan
Lafayette
Member since Feb 2009
36830 posts

re: Paying off everything off while young
quote:

To go to retire - New Zealand - If there were any sort of jobs there I'd never leave, most unbelievable country ever


This is what I want.


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CypressTiger665
LSU Fan
Cypress, Texas
Member since Aug 2013
52 posts
Online

re: Paying off everything off while young
I would invest the money and finance the house for 15 years. The previous scenario is based on an interest rate of 5% for the house. You could possibly get a better interest rate and pay less interest than what is assumed in a previous post.
This post was edited on 11/6 at 3:43 pm


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kyledavis
Member since Nov 2013
734 posts

re: Paying off everything off while young
quote:

So, 15 years on, you will have a paid-for house either way, but by investing you will have an extra $25k. And that's with the very tight percentage spread I used. You can probably get lower than 5% on a mortgage, and you will probably average better than 6% by investing wisely. Whether that's worth the trade-off for peace of mind by not having a mortgage is up to you.


Also, the interest on the house note will be tax deductible.


FootballNostradamus
Clemson Fan
Member since Nov 2009
15256 posts
Online

re: Paying off everything off while young
quote:

Also, the interest on the house note will be tax deductible.


Huh?

When did this become the case?


Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
11404 posts

re: Paying off everything off while young
quote:

When did this become the case?

1986, I think


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bobaftt1212
Virginia Tech Fan
Member since Mar 2013
730 posts

re: Paying off everything off while young
I would invest it. I think you can beat the interest rate that the banks will charge you for the loan.


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Brian Wilson
LSU Fan
Member since Mar 2012
1168 posts

re: Paying off everything off while young
quote:

O if I don't get a house you better believe I'm gonna have the most badass pad available for rent.


Don't be dumb about it. THAT would be "wasting money on rent"


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