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189
GreaterNYCDude
2025 Nov 9, 4:40pm
Patrick says
We must be abnormal. I'm happy to report our household debt is less than$100k. Took 25 years but we're on pace to be debt free before we retire.
https://www.advisorperspectives.com/dshort/updates/2025/11/06/household-debt-rises-to-18-59-trillion-in-q3-2025
We must be abnormal. I'm happy to report our household debt is less than$100k. Took 25 years but we're on pace to be debt free before we retire.
190
Tenpoundbass
2025 Nov 10, 8:03am
Tenpoundbass
2025 Nov 10, 8:03am
Where's the graph that shows, average investments, 401K and other holdings?
It should be as easy as going to the bank and withdrawing money from your bank account.
As it should be using your tax free retirement funds to purchase or partially fund your first time home.
I'm always shocked to hear people say they took a loan from money that's already theirs. That gets taxed and incurs interest.
Many homes have their money locked up in government controlled retirement accounts. Instead of just letting people save and invest, and make banks pay the savers. All for a dog and pony show to play hide the weenie, for the illusion they aren't paying taxes on the money and their company gave matched contributions. Every ten to fifteen years, a major market upsets wipes out the previous decade record returns, and they keep starting back where they started. Makes no damn sense at all.
Your 401K payments when you retire, will be taxed, more than it would have been taxed in your weekly paycheck.
Not only that, you'll then have to use that money to pay your mortgage, that should have been paid off before you retired.
Not having household debt should be your biggest goal for retirement. So you don't have to sell your whole life and downsize and have to move to a downsized community and live alongside a bunch of other bitter assholes, that are angry that there retirement plan didn't include paying for their previous creature comforts.
It should be as easy as going to the bank and withdrawing money from your bank account.
As it should be using your tax free retirement funds to purchase or partially fund your first time home.
I'm always shocked to hear people say they took a loan from money that's already theirs. That gets taxed and incurs interest.
Many homes have their money locked up in government controlled retirement accounts. Instead of just letting people save and invest, and make banks pay the savers. All for a dog and pony show to play hide the weenie, for the illusion they aren't paying taxes on the money and their company gave matched contributions. Every ten to fifteen years, a major market upsets wipes out the previous decade record returns, and they keep starting back where they started. Makes no damn sense at all.
Your 401K payments when you retire, will be taxed, more than it would have been taxed in your weekly paycheck.
Not only that, you'll then have to use that money to pay your mortgage, that should have been paid off before you retired.
Not having household debt should be your biggest goal for retirement. So you don't have to sell your whole life and downsize and have to move to a downsized community and live alongside a bunch of other bitter assholes, that are angry that there retirement plan didn't include paying for their previous creature comforts.
« First « Previous Comments 188 - 190 of 190 Search these comments
As interest rates rise, the math says that it's better if invest any spare cash rather than pay down debt, which is at a low fixed rate (house, student loan, small car loan). However, particularly with the mortgage, there is something to be said for the peace of mind of having it behind me and owning my home outright. I'm fully funding my 401(k), and have a six month emergency fund, but until now, any "free cash" beyond that, I've been diverting to the mortgage. As I sit right now, the goal is have it paid off in the next 5 to 7 years. With high yield savings paying about 4% right now, that's a 1% spread relative to my 3% mortgage.
As much as I could try to invest in the market 1) I'm not that good, and 2) the market has more or less peaked, and I don't see another major bull market given that we are seeing the end of the "everything bubble". Once I own the house free and clear, then I'll have plenty of "play money" to invest or whatever and hopefully catch the next upswing.