Debt Free - Page 2

Phoenix · 10-11-2009, 12:39 AM

McDonalds doesnt pay that much

, especially when you have a wife and kid.

Korioni · 10-11-2009, 12:50 AM

You're a geek. Life is about toys. Buy them.

Craelin · 10-11-2009, 01:01 AM

Share the wealth?

....

Grooverider · 10-11-2009, 03:46 AM

Invest your 300 bucks in some education. Reason being that if you're completely debt free and saving only 300 dollars, then you have a piece of shit job.

GrobbeeTrull2.0 · 10-11-2009, 06:05 AM

Ohio's job market isn't so peachy. I work at a pre-school right now, and make 8.75 an hour, and get 40 hours a week. My degree is in English TESOL, and none of the school districts in a 50 mile radius are hiring ESL teachers at the moment, hence my ability to only save $300 a month.

But, I am debt free, so that's a step. Can you say that, Phoenix? Car paid for? Student loans (lol, right) paid off?

Quote:

Hey Im glad youre debt free, now how about giving some money back to the gov't for using up our resources while being such a pinko-commie-bitch?

I believe that's what taxes are for, right? I pay taxes, too. Of course, I've never "owed" taxes since I get the majority of it back every year, but then again, so do about 43 million Americans (41% of those who pay taxes).

Is that what it's come to? First I get nailed for planning to go to China with debt, then I pay it off, and now I get nailed for... paying it off?

LOL. You guys are something else.

Quote:

Originally Posted by Craelin

Share the wealth?

Well, how? That's kind of what I'm asking about, you know?

Quote:

Originally Posted by Aladain

Sure hope you're not refering to China. You're going to be disappointed.

Nope, not talking about China. Though, we'll probably do what the moderately rich expatriates do and visit Thailand for all of our medical needs at discount prices.

Quote:

I knew you were trolling, you must be bored from saving all that money.

I'm not, actually. We plan to settle somewhere that has a different healthcare system than America currently does (whether that be an America that passes health care reform, or Canada, Europe, etc). Voting with our feet, as it were.

I'm just looking for ideas. I put money into a 529 for the baby, I'm not worried about a 401(k) because I'll be living abroad so it's just a savings account for me, and wondering what sort of things come next, basically.

TheCutlery · 10-11-2009, 08:23 AM

Quote:

Originally Posted by GrobbeeTrull2.0

I'm just looking for ideas. I put money into a 529 for the baby, I'm not worried about a 401(k) because I'll be living abroad so it's just a savings account for me, and wondering what sort of things come next, basically.

Yeah, IRA, 401k, college fund for the kid...that's about all that's really important in life. After all of that, it's pretty much just about 'stuff,' so just stockpile it, blow it on a week in Europe sometime, snort some cocaine off a hooker's ass, buy a TV...whatever floats your boat.

I'd definitely reconsider the 401k though. Your plan right now might be living abroad, but you'd be surprised how quickly plans can change.

Soriak · 10-11-2009, 01:24 PM

How are 401(k)s and 529s affected when you move abroad? There's certainly not going to be any matching in China... and I imagine they won't let you deduct contributions from their taxes. Can you still deduct contributions from taxes owed to the IRS?

Cad · 10-11-2009, 06:10 PM

Quote:

Originally Posted by GrobbeeTrull2.0

So I'm debt free, and saving ~$300 a month. Now what?

Good job. I'd do as Soriak suggested and save up an emergency fund, after that I'd start building up funds to buy a new car which you'll need at some point (paying cash is handy), a home if you're not already a homeowner (even if you plan to leave prices have stabilized somewhat in most places so you're not just pissing money away on rent) and finally college funds/private school funds (you might have to pay for international school in China)/savings for your little ones.

You're on the right track, keep it up.

splorge · 10-11-2009, 06:43 PM

in other words, become financially independent.

you may not like "wealth", but most people enjoy the security that comes with having enough saved to mitigate unforeseen circumstances.

Mikenar · 10-11-2009, 07:04 PM

why not put your fucking $300 bucks into health insurance if its so important?

GrobbeeTrull2.0 · 10-11-2009, 07:12 PM

Quote:

why not put your fucking $300 bucks into health insurance if its so important?

I have health insurance already.

Quote:

How are 401(k)s and 529s affected when you move abroad?

Well, I suppose I could still contribute to them, but kids come first. Part of the reason we're having 6 is future security!

Soriak · 10-11-2009, 07:22 PM

529 would be a college savings account... I'm just wondering if you can withdraw from it to pay for a college outside the US? And without employer matching, a 401k is a waste - just go with an IRA instead. However, I have no idea what sort of plans China is offering.

One bet might be to just keep everything in cash for now and decide your investment strategy when you are in China. Or contact a financial planner there ahead of time and see what he would recommend. Americans moving to China isn't exactly unheard of.

Heck, there are some people who read/post in general who might be able to help you out.

Mario Speedwagon · 10-11-2009, 08:30 PM

Send me a check man. I'm fucking broke. Do it for your comrade.

Dandai · 10-11-2009, 08:49 PM

Quote:

Originally Posted by Mario Speedwagon

Send me a check man. I'm fucking broke. Do it for your comrade.

No no no. HE'S not the one who gives you money, it's the rich people who shit on little people like him to get that rich who are supposed to be writing you checks. But of course that's only after the government confiscates that ill-gotten loot. But don't worry, if you're making $8.75 an hour like him what the government takes from you you will get back (plus interest) at the beginning of next year when you file your taxes. I'll never understand why people would willing give up the freedom to do with their income as they please. "Yes Government Official, you certainly do know how to better spend my money and I wish you well." At what point does a tax become a discreet way of telling you how much of the government's money you are allowed you to keep?

On a somewhat related note, my wife worked fifty hours this week (ten hours overtime) and made less than her forty hour paycheck because of overtime taxes effecting the entire paycheck. God bless liberalism and its effects on productivity.

DisgruntledOrangatang · 10-11-2009, 09:07 PM

Haha seriously, I know people love to rag on you Grobbee, but jeezis really funny you posting this, and some of the comments in this thread, especially how much you ramble on about some shit but then say other shit. You look like a total tool right now man lol.

10-11-2009, 12:50 AM	#17 (permalink)
Korioni Six Join Date: Mar 2006 Posts: 1,816 -118 Internets	You're a geek. Life is about toys. Buy them. __________________

10-11-2009, 09:07 PM	#30 (permalink)
DisgruntledOrangatang Registered User Join Date: May 2003 Posts: 1,404	Haha seriously, I know people love to rag on you Grobbee, but jeezis really funny you posting this, and some of the comments in this thread, especially how much you ramble on about some shit but then say other shit. You look like a total tool right now man lol. __________________ "Talk all you want, but when I say I'm going to kill you, there's nothing you can do but die"

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10-11-2009, 01:01 AM	#18 (permalink)
Craelin :0 Join Date: Nov 2005 Location: New Mexico Posts: 117 -2 Internets	Share the wealth? ....

10-11-2009, 03:46 AM	#19 (permalink)
Grooverider 1234567890 Join Date: Aug 2002 Location: Svenborgia Posts: 1,299	Invest your 300 bucks in some education. Reason being that if you're completely debt free and saving only 300 dollars, then you have a piece of shit job.

10-11-2009, 01:24 PM	#22 (permalink)
Soriak Registered User Join Date: May 2002 Location: NYC Posts: 5,835 +54 Internets	How are 401(k)s and 529s affected when you move abroad? There's certainly not going to be any matching in China... and I imagine they won't let you deduct contributions from their taxes. Can you still deduct contributions from taxes owed to the IRS?

10-11-2009, 06:43 PM	#24 (permalink)
splorge Registered User Join Date: Feb 2004 Posts: 85 +0 Internets	in other words, become financially independent. you may not like "wealth", but most people enjoy the security that comes with having enough saved to mitigate unforeseen circumstances.

10-11-2009, 07:04 PM	#25 (permalink)
Mikenar huh? Join Date: Jun 2003 Posts: 63 +5 Internets	why not put your fucking $300 bucks into health insurance if its so important?

10-11-2009, 07:22 PM	#27 (permalink)
Soriak Registered User Join Date: May 2002 Location: NYC Posts: 5,835 +54 Internets	529 would be a college savings account... I'm just wondering if you can withdraw from it to pay for a college outside the US? And without employer matching, a 401k is a waste - just go with an IRA instead. However, I have no idea what sort of plans China is offering. One bet might be to just keep everything in cash for now and decide your investment strategy when you are in China. Or contact a financial planner there ahead of time and see what he would recommend. Americans moving to China isn't exactly unheard of. Heck, there are some people who read/post in general who might be able to help you out.