Paying off everything off while young | Page 3 | TigerDroppings.com

Posted byMessage
theBeard
LSU Fan
Golf Tech Board
Member since Jul 2011
6254 posts

re: Paying off everything off while young


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





Back to top
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


Back to top
theBeard
LSU Fan
Golf Tech Board
Member since Jul 2011
6254 posts

re: Paying off everything off while young


replied you can edit if needed





Back to top
  Replies (0)
CP3LSU25
LSU Fan
Lafayette
Member since Feb 2009
36054 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.






Back to top
RedStickBR
LSU Fan
Member since Sep 2009
10076 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


Back to top
  Replies (0)
kingbob
LSU Fan
St. Amant, LA
Member since Nov 2010
20146 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.






Back to top
  Replies (0)
FootballNostradamus
Clemson Fan
Member since Nov 2009
14421 posts

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.






Back to top
CP3LSU25
LSU Fan
Lafayette
Member since Feb 2009
36054 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.






Back to top
  Replies (0)
CypressTiger665
LSU Fan
Cypress, Texas
Member since Aug 2013
45 posts

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


Back to top
  Replies (0)
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.






Back to top
FootballNostradamus
Clemson Fan
Member since Nov 2009
14421 posts

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?






Back to top
Korkstand
LSU Fan
Plaquemine, LA
Member since Nov 2003
10272 posts

re: Paying off everything off while young


quote:

When did this become the case?

1986, I think






Back to top
  Replies (0)
bobaftt1212
Virginia Tech Fan
Member since Mar 2013
532 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.





Back to top
  Replies (0)
Brian Wilson
LSU Fan
Member since Mar 2012
1161 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"






Back to top
  Replies (0)


Back to top