Thread: Money Investing megathread extravaganza
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Old 11-10-2016, 07:09 PM   #476
eDave eDave is offline
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Join Date: Jan 2013
Casino cash: $9998560
Quote:
Originally Posted by lewdog View Post
All of this is so mind blowing to me.

And no offense Hometeam, I think you clearly stated you weren't great with money, but it blows my mind someone can rack up debt like that in a housing area this is so cheap ($85k mortgage?). This seems to be a common trend across the country though.

I wouldn't worry about investing in anything outside of your 401k since you have never had one and have nothing saved for retirement. Take the highest contribution you can that maxes your employer match. Bump up your contributions after that according to getting your debt paid off. The 401k is a great investment vehicle for you to lower your taxable income on the higher salary.
Having a family hurts savings initiatives. Notice the stark increase once the kids are out of the house and college is paid for. Still not a lot but enough to survive an emergency. I suspect those older peeps are invested.

I don't have $17K in savings and I'd consider myself in a great place financially.
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