bmikes
NAXJA Forum User
- Location
- portland or
I'd rather have a house too, but I'm building my credit and I'm getting there!
**NWChapter Random Thoughts Thread***
- Thread starter dick.breakey
- Start date
I'd rather have a house too, but I'm building my credit and I'm getting there!
kenny811
NAXJA Forum User
- Location
- Damascus, OR
Man im so confused:shiver:
NW99XJ
NAXJA Forum User
- Location
- Gresham, Or.
It was a "random" thought..... probably ill timed, and not really all that random, but still.....
:flamemad::soapbox::flamemad:
kenny811
NAXJA Forum User
- Location
- Damascus, OR
Ok back off, I dont do random very well. But im trying
kenny811
NAXJA Forum User
- Location
- Damascus, OR
" wonder what they will name the royal baby"
AwesomeXJ
NAXJA Forum User
- Location
- Vancouver WA.
Re: Re: **NWChapter Random Thoughts Thread***
Fify
Jk........ I couldn't help myself.
Fify
Jk........ I couldn't help myself.
flash2pablo
NAXJA Forum User
- Location
- Vancouver, WA
This is the reason my jeep is still basically stock. Haven't done much to it lately, but have parts sitting in "my garage."
I have bought and sold more houses over the last two years due to banks giving away cheap money and people over buying. My pocket book is happy, but the jeep is sad.
The same bubble bursting can happen again without much warning, be careful buying a house right now or anytime.
AwesomeXJ
NAXJA Forum User
- Location
- Vancouver WA.
I'm also contributing an ass load of money every check into my 401k. I'm letting it get nice and fat so I can use it as a huge down payment to make my mortgage payments super low.
That's why I'm so broke all the time. Paying off credit, putting into 401k, and paying for wedding stuff.
I hope to buy a house within the next 2 years
That's why I'm so broke all the time. Paying off credit, putting into 401k, and paying for wedding stuff.
I hope to buy a house within the next 2 years
90xjblue
NAXJA Forum User
- Location
- Yakima, Washington
You are using your 401k as a savings account for buying a house?? Do you plan on quitting your job when you buy your house? As far as i know that is the only way to get it out early without huge penalties, and no matter what you do if you take it out before retirement age, you have to pay taxes on it. Even borrowing on it has penalties.
Unless I am missing something, you may want to rethink that plan. Just lower your contribution and send that into an actual savings account.
Unless I am missing something, you may want to rethink that plan. Just lower your contribution and send that into an actual savings account.
flash2pablo
NAXJA Forum User
- Location
- Vancouver, WA
In most employer sponsored retirement plans, you can borrow against your retirement account up to 50% of the balance or $50k, when this loan is for the purchase of a primary residence the usually make the term of the loan 10-20 years. But if you switch employers it is considered a disbursement if not repaid within 30-60 days upon leaving employment. Then you could be taxed heavily.
90xjblue
NAXJA Forum User
- Location
- Yakima, Washington
Right but are you not paying that loan back with interest into your 401k? Why pay interest on money thats already yours? Also when you borrow it like that, you have to pay that loan back while paying your new mortgage. Thats tough! a simple mutual fund where you gain a retrn would suffice for this i would think, or just the traditional savings account?
I guess I have never heard of using a 401k like that,
I could be looking at this all wrong as i am not a savvy financial advisor at all, so feel free to correct me i wont take offense! Knowledge is power!
I guess I have never heard of using a 401k like that,
I could be looking at this all wrong as i am not a savvy financial advisor at all, so feel free to correct me i wont take offense! Knowledge is power!
kenny811
NAXJA Forum User
- Location
- Damascus, OR
Using a 401 to buy a house or to take a loan is not as bad as a loan from a bank. The risk is if you loose your job you will pay about 12% of the balance to the IRS. While paying the loan back you will pay interest, about 5%. But the interest goes to you. So it's a little bit if a bonus. The pay back is always auto pay, and you usually get 2,3 or 5 years to pay it back. Its your money and aside from a few rules you can use it.
90xjblue
NAXJA Forum User
- Location
- Yakima, Washington
ah the interest goes to you, thats neat. Thanks for the info guys.
kenny811
NAXJA Forum User
- Location
- Damascus, OR
Re: Re: **NWChapter Random Thoughts Thread***
Ummmmmmm Buffy!!!
Well this should be interesting.
Ummmmmmm Buffy!!!
crazymoose1990
NAXJA Forum User
- Location
- Beavertown
Uhhhh Kenny it's Biffy.
bmikes
NAXJA Forum User
- Location
- portland or
Even though it's only 9 am, my work day is half over! Starting at 5 is really early but I think I like it 
Bronzewyrm
NAXJA Forum User
- Location
- Independence,or
you will love it, until they say "were behind," "we need you to stay."
been there, makes for good cash flow!
Bronze.
been there, makes for good cash flow!
Bronze.
NW99XJ
NAXJA Forum User
- Location
- Gresham, Or.
....and it gives YOU plenty of time in the afternoon to help ME with some fab projects for my Jeep!
(nudge-nudge wink-wink)
(nudge-nudge wink-wink)
Bronzewyrm
NAXJA Forum User
- Location
- Independence,or
....and it gives YOU plenty of time in the afternoon to help ME with some fab projects for my Jeep!
(nudge-nudge wink-wink)
OHHH shiz, speaking of, I NEED to look at your panhard bar setup in person. we may have troubles...
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