- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- 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
1
Posted on 2/6/25 at 10:24 am to SG_Geaux
You will need replacement vehicles at some point. setup a car payment to yourself such that you will have the cash amount you want by the date you set for a future purchase.
After that, if you still have some of that $1000 left to spend, sit down with the wife and discuss it. I personally would keep upping retirement savings until you are putting 15% of gross pay into retirement vehicles.
After that, if you still have some of that $1000 left to spend, sit down with the wife and discuss it. I personally would keep upping retirement savings until you are putting 15% of gross pay into retirement vehicles.
This post was edited on 2/6/25 at 10:25 am
Posted on 2/6/25 at 10:41 am to SG_Geaux
quote:
Me about 15 yrs.
Wife about 10 yrs
Then you are looking at easily over $2 million in just your 401K if it follows an average 10% return yearly over 15 years. If you take the $1000 and basically max out one 401K for 15 years, you can make it up to around $3.3-$3.5 million.
Posted on 2/6/25 at 10:51 am to SG_Geaux
Congrats! I'm actually selling my car tomorrow. Tired of the monthly payments. Wife and I are going to give sharing a car a try. I work from home so I think we can make it work.
Posted on 2/6/25 at 11:00 am to DarkKnight197
quote:
Congrats! I'm actually selling my car tomorrow. Tired of the monthly payments. Wife and I are going to give sharing a car a try. I work from home so I think we can make it work.
So, you gonna drive her to work and pick her up every day?
Posted on 2/6/25 at 12:42 pm to SG_Geaux
I was wondering if it were possible to buy enough JEPQ to cover the note on a vehicle with the dividends it pays. I think that you could do it with about 100k but you probably need to check my math
Posted on 2/6/25 at 12:53 pm to RedlandsTiger
quote:
Pay it down.
Hell no
Posted on 2/6/25 at 1:06 pm to SG_Geaux
Good point from this post:
You can throw more into retirement, throw more into your HYSA or do a split between both. When you go to get a new vehicle (whenever that may be), the more of it you can pay up front then the less a burden the notes will be (which could be $0 if you end up saving enough to buy outright).
quote:
If you’re about to pay off both cars, odds are you’ll have to replace one of them soon which will be at a much higher interest rate.
You can throw more into retirement, throw more into your HYSA or do a split between both. When you go to get a new vehicle (whenever that may be), the more of it you can pay up front then the less a burden the notes will be (which could be $0 if you end up saving enough to buy outright).
Posted on 2/6/25 at 1:41 pm to SG_Geaux
I'd do a mix of these three
quote:
High Yield Savings to save for future vehicles or whatever else we need it for.
Put more into her 401K. Putting 8% now.
Put more in my Employers Simple IRA. Currently doing 3.5% to get the match
Posted on 2/6/25 at 2:16 pm to rebelrouser
quote:
Why? He could do better in a three month Tbill at 4.22%, and he doesn't decrease his mortgage interest deduction.
Some people will always recommend lowering debt and some people will always suggest putting the money to work somewhere else.
I’m always taking the money to borrow more money and put it to work.
Posted on 2/6/25 at 2:27 pm to Motownsix
quote:
Some people will always recommend lowering debt and some people will always suggest putting the money to work somewhere else.
The money should work as a hedge against inflation and not taking on any future debt.
Posted on 2/6/25 at 3:29 pm to Triple Bogey
And Tesla 
Posted on 2/6/25 at 7:04 pm to SG_Geaux
I'd save it for future vehicles in the HYSA.
Posted on 2/6/25 at 7:15 pm to SG_Geaux
Do you go to church or donate to any nonprofits or charities?
Posted on 2/6/25 at 8:09 pm to fallguy_1978
quote:
I'd save it for future vehicles in the HYSA.
Yeah nobody likes a car note.
Posted on 2/6/25 at 8:19 pm to SG_Geaux
Start saving for the next car.
Posted on 2/6/25 at 8:21 pm to Lakeboy7
quote:
Yeah nobody likes a car note
Right, and you know you'll need another one at some point. My truck is almost 8yrs old now, but I just kept saving the payment after I paid it off 2.5'ish years ago.
They are way more expensive now, but it still should give me quite a substantial down payment when the time comes.
Posted on 2/6/25 at 11:38 pm to fallguy_1978
quote:
I'd save it for future vehicles in the HYSA.
put all that in BITO then just DRIP it then pull out money later for a DP or for the car notes or both.
Posted on 2/7/25 at 12:20 am to Fat Bastard
Any chance your employer will let you do an in-plan Roth conversion in your 401k, and let you contribute after tax dollars? This lets you contribute to a Roth past the $23,500 before tax limit.
Posted on 2/8/25 at 7:29 pm to SG_Geaux
Save your money...Boomer
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News