Essential The Locker Room's Random Thoughts

[PrnzHakeem]

putting this here since no one helped me in the other thread

Build up your savings and payoff as much revolving credit card debt (if you have any) as possible before starting your Roth IRA. Depending on how much you make after MBA, you won't be able to contribute to Roth IRA anyway.

What mid & long term financial goals do you have? Student loan repayment? House purchase?

 

[The ADD]

@PrnzHakeem @Phoenix Reborn @Phoenix_Knightly23

 

[Rawtid]

yes I would like that. thanks

PM me your email address.

 

[Aceofspades404]

Build up your savings and payoff as much revolving credit card debt (if you have any) as possible before starting your Roth IRA. Depending on how much you make after MBA, you won't be able to contribute to Roth IRA anyway.

I paid off my credit cards when I got my tax refund. My only debt I have right now is my car payment which is about $8000 but my mom is gonna buy it from me in about a year and half so it'll be paid off. Yea I'm gonna buy a new car but I don't really see
it as a big deal if I can afford it.
What mid & long term financial goals do you have? Student loan repayment? House purchase?
My goal is to be making six figures by 30 and to payoff my student loans by 35. As far as real estate goes, I don't plan to buy a home until I relocate to a city I really want to live in. I'm just laying down the ground work for now so the earliest would probably be 28.
Long-term is to have at least a million when I retire and trust funds for my kids, if I ever do have them
I'd also like to mention that I just turned 24 last month.

 

[Rawtid]

I paid off my credit cards when I got my tax refund. My only debt I have right now is my car payment which is about $8000 but my mom is gonna buy it from me in about a year and half so it'll be paid off. Yea I'm gonna buy a new car but I don't really see
it as a big deal if I can afford it.
What mid & long term financial goals do you have? Student loan repayment? House purchase?
My goal is to be making six figures by 30 and to payoff my student loans by 35. As far as real estate goes, I don't plan to buy a home until I relocate to a city I really want to live in. I'm just laying down the ground work for now so the earliest would probably be 28.
Long-term is to have at least a million when I retire and trust funds for my kids, if I ever do have them
I'd also like to mention that I just turned 24 last month.

If you plan on working for a non profit until 35, make minimum payments every month and then sign up for loan forgiveness. You have to make a decade worth of payments before you qualify.

 

[PrnzHakeem]

@Dollfacecraze

You wanna hit that million, renting long-term aint gonna help. Even if you only going to be in a city for 4/5 years, its better to purchase a home.
Take advantage of the tax savings, building home equity, and profit from eventually selling.

As far as cars go, a paid off car is better. But you know that.

Unfortunately you gonna need more than a million to retire comfortably. More like 2 or 3 depending on what kind of lifestyle you want to live

 

[PrnzHakeem]

If you plan on working for a non profit until 35, make minimum payments every month and then sign up for loan forgiveness. You have to make a decade worth of payments before you qualify.

Hurts me to say this, but if you wanna make money get out of the non-profit sector.
I had a few NFP clients in my HR Consulting time and they pay peanuts

 

[Aceofspades404]

If you plan on working for a non profit until 35, make minimum payments every month and then sign up for loan forgiveness. You have to make a decade worth of payments before you qualify.

I'm a university employee. Although it's part of the state, I'm only considered a state employee in certain circumstances and I'm not sure loan forgiveness would be one.

 

[Rawtid]

Hurts me to say this, but if you wanna make money get out of the non-profit sector.
I had a few NFP clients in my HR Consulting time and they pay peanuts

I definitely agree, but some people like non-profits/government jobs. My main point is to pay on your student loans right away if you can afford it. Don't keep getting it referred.

I'm a university employee. Although it's part of the state, I'm only considered a state employee in certain circumstances and I'm not sure loan forgiveness would be one.

Eh, you can always check. It covers government and non profit. They also included that you can work anywhere for 15 years and qualify BUT you still have to be making payments on the loan.

 

[Aceofspades404]

@Dollfacecraze

You wanna hit that million, renting long-term aint gonna help. Even if you only going to be in a city for 4/5 years, its better to purchase a home.
Take advantage of the tax savings, building home equity, and profit from eventually selling.

As far as cars go, a paid off car is better. But you know that.

Unfortunately you gonna need more than a million to retire comfortably. More like 2 or 3 depending on what kind of lifestyle you want to live

So you think I should look into buying a home now? what if I don't get my ROI?
The one thing that's keeping me from buying is that I live in shytty ass Gainesville, Fl.

 

[Barnett114]

Can make threads shytting on black people, no problems

Call out white trolls, deleted

 

[PrnzHakeem]

So you think I should look into buying a home now? what if I don't get my ROI?
The one thing that's keeping me from buying is that I live in shytty ass Gainesville, Fl.

How much you paying in rent?

You could start w something small like a condo or townhouse. Paying rent is negative ROI, lol.

 

[Aceofspades404]

Can make threads shytting on black people, no problems

Call out white trolls, deleted

 

[Aceofspades404]

How much you paying in rent?

You could start w something small like a condo or townhouse. Paying rent is negative ROI, lol.

True
and I've looked into condos and townhomes, I just haven't found any that I like.
I pay $900/month but could be paying half of that to own.
I'm gonna start being serious about it

 

[Dreamzeedream]

Woke up feeling weak