Woman owes $555,000 in student loans

[Particle Man]

Originally Posted by Rider

75% down? Hell, you might as well just pay cash and skip the 25% loan.

If we can cut it, we'll probably do just that. Depends on the housing market and location available. By that time, we'll have 0 other remaining debt (we don't have CC debt, one out of the 2 cars are paid off with the last one being paid off by mid-year 2010, the bike and the sleds were bought outright, and the student loans will be finished of within a couple years).

I hate not having a plan with stuff, can you tell?

[Dave]

Originally Posted by Rider

Dude, you own a house? By the time you are done paying for that shit over 30 years you'll have paid more that half a mil for that house.

you can mitigate the hell out of that with payments against principle.

[tommymac]

Originally Posted by Dave

you can mitigate the hell out of that with payments against principle.

tryin to do that with ours I try to throw at least a few hundred extra a month at it. Gettin is good for at least the next 2 yrs fo rme so the plan is to wipe ou tother debt and rebuild an emergency stash (about 20k) after that I iwll throwe ALOT at th emortgage.

It kills me that over 1k of my monthlypayment is interest.

[marko138]

Suck it up, bitch. Pay your bills.

[Homeslice]

How long until you have that amount? If it's going to take several years of saving, then at least some of it should be in stocks, and the rest in stuff like muni bonds, otherwise you're getting hosed by today's crappy interest rates on savings & CD's.

[Particle Man]

Originally Posted by Homeslice

How long until you have that amount? If it's going to take several years of saving, then at least some of it should be in stocks, and the rest in stuff like muni bonds, otherwise you're getting hosed by today's crappy interest rates on savings & CD's.

couple more years (3 at most).

[shmike]

Originally Posted by Homeslice

How long until you have that amount? If it's going to take several years of saving, then at least some of it should be in stocks, and the rest in stuff like muni bonds, otherwise you're getting hosed by today's crappy interest rates on savings & CD's.

Seriously.

Who in their right mind would settle for a 2% CD when he could have been in the market the last 5 years and yielded over 5%*.















*That would be a negative 5%, but hey, at least he'd be in touch with normal Americans, right?

[Particle Man]

Originally Posted by shmike

Seriously.

Who in their right mind would settle for a 2% CD when he could have been in the market the last 5 years and yielded over 5%*.

*That would be a negative 5%, but hey, at least he'd be in touch with normal Americans, right?

I like having a plan and I'm conservative as all hell with investments. CD's it is, sorry guys. I don't like to take chances no matter the potential return.

[Homeslice]

Originally Posted by shmike

Seriously.

Who in their right mind would settle for a 2% CD when he could have been in the market the last 5 years and yielded over 5%*


*That would be a negative 5%, but hey, at least he'd be in touch with normal Americans, right?

Selective reasoning. I could just as easily have said he could have earned a positive 50% if he'd been lucky enough to put it in the market last March. But I didn't because that would be a dumb argument, since short-term performance (including the last 5 yrs) doesn't say shit about long-term direction.

Also, you realize I said only SOME of it in stocks, right?

I also didn't know how long he'd need to save, which is why I asked. If he only needed to save for 5 years, then I probably wouldn't buy any stocks either, but if it were longer than that, I'd put some of it in.

[shmike]

Originally Posted by Homeslice

I also didn't know

Exactly.