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#1 |
Let's do another U-turn
Join Date: Feb 2008
Location: Indiana
Moto: 2009 V-Strom
Posts: 3,816
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If I weren't responsible, I could cash in my retirement savings and my emergency fund, pay off all my debt, and have enough left over for a down payment on a bike. Granted, my interest rate on my debt is probably lower than I'd get on a bike, so I'd just buy the bike outright.
But my point is that I'd still be in debt, not have any emergency fund and not have a retirement fund of any kind. I know what I WANT to do because I really want a bike, but I'm too damn practical so I know what I'm GOING to do, which is keep grinding away at this debt until it's gone, while still building up my retirement and emergency funds. Once all of the debt is gone, I will look at buying a bike. Ugh, responsibility sucks donkey dick! Wait a minute. Scratch that, cause I said I'm responsible. I DON'T suck donkey dick! ![]() |
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#2 |
ICON FTW!!!
Join Date: Feb 2008
Location: VA, but currently in the sand
Moto: 00GSXR6
Posts: 1,380
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But being responsible will pay off for you in the long run!! Just hang in there bro! Good Job & Good Luck!!
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#3 |
Chopstix / \
Join Date: Feb 2008
Location: Akron OH
Moto: 03 CBR RR
Posts: 5,350
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yep, and when you look back what are you going to think? obviously your answer will be "im glad i prepared for the future"... and thats not a bad response.
dont beat yourself up over it, your priorities arent wack. |
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#4 |
TWFix Legend
Join Date: Feb 2008
Location: Denver CO
Moto: 01 BMW F650GS Dakar
Posts: 15,677
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I hear ya Cap... I try to keep that fund out of my mind... but once a quarter I get a statement... fuck what I could do with 15G's... (decent considering I've only been saving for 6 years)
but naw... no matter how you put it... motorcycles are luxuries and not necessities in my mind... so they're no reason to jeopardize my future... ![]() |
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#5 | |
Let's do another U-turn
Join Date: Feb 2008
Location: Indiana
Moto: 2009 V-Strom
Posts: 3,816
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#6 | |
TWFix Legend
Join Date: Feb 2008
Location: Denver CO
Moto: 01 BMW F650GS Dakar
Posts: 15,677
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#7 |
Grill Master
Join Date: Feb 2008
Location: Kansas City, MO
Moto: Yamaha FZ6
Posts: 960
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Don't forget to take out the 20% penalty and taxes...that makes your 14 about 7...suck.
I've done the math several times, I can cash one of my retirement accounts out and pay off everything but my house. Of course if I hold on a little longer, I can open my gym and borrow against my retirement penalty free. |
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#8 | |
TWFix Legend
Join Date: Feb 2008
Location: Denver CO
Moto: 01 BMW F650GS Dakar
Posts: 15,677
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#9 |
Chaotic Neutral
Join Date: Feb 2008
Location: Cherry Hill NJ
Moto: GV1200 Madura, Hawk gt
Posts: 13,992
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i'll admit all the times ive stayed in to save cash while my friends were out partying sucked! but its a fucking fantastic feeling being a homeowner at 26. really seems to blow peoples minds too, especially girls lol
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#10 | ||
Let's do another U-turn
Join Date: Feb 2008
Location: Indiana
Moto: 2009 V-Strom
Posts: 3,816
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I HOPE to never dip into the e-fund, so I put it in a Roth account to let it build up tax free. If I ever have to pull from it, I can do so without penalty, as long as I only take out my contributions. If I were to get into the earnings portion, then i'd have the penalty and taxes, but since I have other investments in there besides the cash portion for the e-fund, I don't see any reason why I'd get into earnings. That and the fact the market has taken a huge hit, so I really have no "earnings" to speak of right now. ![]() |
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