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10-10-2009, 06:13 PM
| #1 (permalink) |
| Registered User Join Date: Sep 2007 Location: Dayton, Ohio
Posts: 4,174
 | Debt Free So I'm debt free, and saving ~$300 a month. Now what?
__________________ "When the last tree has died; and the last river been poisoned; and the last fish been caught, we will realise that we cannot eat money." - Cree proverb |
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10-10-2009, 06:23 PM
| #3 (permalink) |
| Registered User Join Date: Sep 2007 Location: Dayton, Ohio
Posts: 4,174
| Not interested in wealth. Won't make me happy. Any other ideas?
__________________ "When the last tree has died; and the last river been poisoned; and the last fish been caught, we will realise that we cannot eat money." - Cree proverb |
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10-10-2009, 06:24 PM
| #4 (permalink) | ||
| There is no internets  Join Date: Feb 2005 Location: Houston, TX
Posts: 3,175
+1 Internets  | Quote:
If so, keep saving for it...
__________________ Not a spelling nazi Definitions of LOSE on the Web: fail to keep or to maintain; cease to have, either physically or in an abstract sense; "She lost her purse when she left it unattended on her seat" Definitions of LOOSE on the Web: not restrained or confined or attached; "a pocket full of loose bills"; "knocked the ball loose"; "got loose from his attacker" For EP: Quote:
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10-10-2009, 06:26 PM
| #5 (permalink) |
| Registered User Join Date: Sep 2007 Location: Dayton, Ohio
Posts: 4,174
| Yeah, I will be teaching in China. And saving money there too. I just... don't know what's supposed to be next?
__________________ "When the last tree has died; and the last river been poisoned; and the last fish been caught, we will realise that we cannot eat money." - Cree proverb |
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10-10-2009, 06:30 PM
| #6 (permalink) |
| Registered User Join Date: May 2002 Location: NYC
Posts: 5,835
+54 Internets | Congratulations! First step is to save up money for an emergency fund. You'll want to have at least 3 months of living expenses in cash for whatever may come up. Ally bank has been offering the highest rate whenever I've checked, so they may be a good option: High-Yield CD, No Penalty CD, Money Market & Savings Rates | Ally Bank Interest doesn't really matter early on, but they also don't charge you any monthly fees, nor do they have a minimum opening balance. Plus, 1.8% for a savings account is pretty good. edit: or you may want to open an account in China once you get there. The yuan should get quite a boost once China stops keeping it artificially low. Plus, you'll get to avoid paying international transfer fees. Last edited by Soriak; 10-10-2009 at 06:32 PM.. |
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10-10-2009, 06:35 PM
| #7 (permalink) | ||
| There is no internets Join Date: Feb 2005 Location: Houston, TX
Posts: 3,175
+1 Internets | Quote:
Within reason means we can pay it off in a year or less. At the same time we invest (or did) about 10-12% of our income in 401k, Roth IRAs, 520s. Our plan is to have enough money to send our children to school so they wont be in debt up to their eyeballs (see me) coming out of school, and to be able to retire and work IF WE WANT TO, or just do something we enjoy because we can. So basically, my goal is to raise a family, do some vacationing, retire, hopefully have grandchildren, and to have enough to pass on to my son/daughter etc. So, you obviously have goals, tie in your money saving or investing to accomplish those goals, the "now what" is something other than money, which is awesome for you, because you got that knocked out. You can focus on more important things whatever that may be.
__________________ Not a spelling nazi Definitions of LOSE on the Web: fail to keep or to maintain; cease to have, either physically or in an abstract sense; "She lost her purse when she left it unattended on her seat" Definitions of LOOSE on the Web: not restrained or confined or attached; "a pocket full of loose bills"; "knocked the ball loose"; "got loose from his attacker" For EP: Quote:
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10-10-2009, 07:01 PM
| #9 (permalink) |
| I'm dangerous! Join Date: Jan 2002 Location: Atlanta
Posts: 1,278
| Normally we blow our extra cash and take a nice two week vacation. Last year was to Japan. Year before that was Austria. In August, we had our first baby, so no (big) vacation for awhile. We had been planning to go to the Vancouver Olympics. I max out my 401k every year. I was thinking of starting a 529 plan to cover the tyke's tuition costs. At the very least I think I can get his grandparents to put money into that instead of just buying him toys he doesn't need. Other than that I plan to pay a lot of taxes.
__________________ There are 10 types of people in the world: those who understand binary and those that don't. |
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10-10-2009, 07:53 PM
| #10 (permalink) | |
| Registered User Join Date: Sep 2007 Location: Dayton, Ohio
Posts: 4,174
| Quote:
Either here, when it passes and we come back, or abroad where they are already smart and give it to us.
__________________ "When the last tree has died; and the last river been poisoned; and the last fish been caught, we will realise that we cannot eat money." - Cree proverb | |
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10-10-2009, 07:55 PM
| #11 (permalink) | ||
| There is no internets Join Date: Feb 2005 Location: Houston, TX
Posts: 3,175
+1 Internets | Quote:
__________________ Not a spelling nazi Definitions of LOSE on the Web: fail to keep or to maintain; cease to have, either physically or in an abstract sense; "She lost her purse when she left it unattended on her seat" Definitions of LOOSE on the Web: not restrained or confined or attached; "a pocket full of loose bills"; "knocked the ball loose"; "got loose from his attacker" For EP: Quote:
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10-10-2009, 08:13 PM
| #12 (permalink) |
| Cause it's better than water  Join Date: Oct 2003 Location: Houston, TX
Posts: 10,223
+78 Internets  | Completely debt free and only saving 300 a month? My income is balls and was saving three times that when I was debt free.(beans and rice for lunch and dinner type of saving though) Have been mostly debt free for 6 years saving for a house. |
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10-10-2009, 08:19 PM
| #13 (permalink) |
| Registered User Join Date: Jul 2006
Posts: 150
| 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? ibtr if the mods even care enough about the finance forum to rickshaw shit from here |
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10-10-2009, 09:00 PM
| #14 (permalink) | |
| Registered User  Join Date: Aug 2002 Location: Austin, TX
Posts: 3,935
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