Who here is wealthy?

[slow99]

He's forgiving student debt now, right?

I need more info on this.

[YALE]

The problem with this right now is that every asset class is over valued. Stocks, bonds, real estate, investment grade guns or cars, etc. There is nothing that I would buy right now unless I knew I could flip it immediately for a good profit. There is a credit related disaster brewing and no one knows when the explosion will happen.

Let me get college finished before Obalama forgives all the student debt. He's forgiving student debt now, right?

[Broncojohnny]

I'm saying he's better off investing that money into a brokerage account of some sort than putting it towards principle on a mortgage.

The problem with this right now is that every asset class is over valued. Stocks, bonds, real estate, investment grade guns or cars, etc. There is nothing that I would buy right now unless I knew I could flip it immediately for a good profit. There is a credit related disaster brewing and no one knows when the explosion will happen.

[dblack1]

Holy balls on day care expenses. Unless the wife is making a good wage that shit is pointless.

[racrguy]

So I have 2 kids (6 1/2 and 3 1/2 years old) and they've been in day care since 8 weeks old. And My oldest was in kindergarten last year, but in the summer he's back at day care. I've added it up and since 2008 I've spent almost $81k on child care... And for the record, I've had a vasectomy... like 2-3 more years and I can stop paying that shit all together.

Kids: The worst investment since the history of ever.

[Baron Von Crowder]

I didnt even make enough today to cover my gas to drive in. Guess I need to find wealth elsewhere.

[jayjohnson600]

I'm saying he's better off investing that money into a brokerage account of some sort than putting it towards principle on a mortgage.

That depends on your outlook for the markets and financial instruments used as compared to the mortgage terms.

Put the money where you think it will benefit you the most, or where it will work harder for you. Account for risk in your assessments.

[MattB]

I'm saying he's better off investing that money into a brokerage account of some sort than putting it towards principle on a mortgage.

Dave Ramsey says otherwise!!!

[jayjohnson600]

OP: Who here is wealthy?

I used to think in those kinds of terms. Now I think in terms of being happy and healthy.

[bird_dog0347]

Im dead nuts even, house payment and day care.

I could have a boller ass lake house for what I pay in day care costs.

I hear ya.. Little over $1300 a month in child care, two kids under 3.

So I have 2 kids (6 1/2 and 3 1/2 years old) and they've been in day care since 8 weeks old. And My oldest was in kindergarten last year, but in the summer he's back at day care. I've added it up and since 2008 I've spent almost $81k on child care... And for the record, I've had a vasectomy... like 2-3 more years and I can stop paying that shit all together.

[akfodysvn]

401k up to the max your employer will match. Never pass up free money. Then Roth Ira due to it's instant access of any of the money you invested that isnt interest made. No early withdraw fees with the Roth. Roth is also taxed before it goes in which can be a big benefit depending on your tax bracket you retire in.

The additional mortage vs investment is very much opinion based and you will get very conflicting opinions. Altgough the market has done well lateley sometimes you can't beat the interest that your mortgage is. Mortgage is a sure thing while investments are still a gamble. If everyone returned the 7% we talk about then everyone would retire Rich. Simply it isn't that easy. I pay about 50% additional to my house payment. It will be paid off in under 15 years and will be a rental property. Thus providing me with additional income as long as I own it. Match that with my awesome pension, savings and my wife's 401 we will be good. I hope to continue to acquire rental properties along the way.

Rental biz can be tough. My inlaws own about 10 properties that are a combo of single family homes and duplexes. They have done well but made some mistakes and refinanced them finally at a lower rate. Now they wont be paid off until my FIL is 70 and my MIL is over 80. Thus they dont get to reap the benefits of the.properties for very long.

I'm saying he's better off investing that money into a brokerage account of some sort than putting it towards principle on a mortgage.

Ah, gotcha.

[snacksnack]

Investment compounding interest > mortgage interest, unless he has a ridiculously high mortgage rate.

Thats what I say. The question is what to buy? Also we have learned that this is the easiest way to hide and convince our wives we are broke and I must say its working well. The growth of this along with the company match is great so far.

[David]

Rental properties have always done our family good.

[Roscoe]

Well, he is talking about pretty much taking it out immediately, so I'm not sure it will have much time to compound, not to mention the early withdrawal taxes. Not enough info.

I'm saying he's better off investing that money into a brokerage account of some sort than putting it towards principle on a mortgage.