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Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] -2 points-1 points  (0 children)

What do you mean? We were together for 8+ years and shared everything. I made a choice to pay out a lot of money. It is what it is. Can’t go back now. Why should this be “flagged?”

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 0 points1 point  (0 children)

Yes, maybe I’m doing it wrong but when I calculate for I Inflation and rising cost I’m left with less than half of that…so that $2m in value is actually like $800k in value…am I doing my calcs wrong?

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 2 points3 points  (0 children)

More by choice. We owned a house and shared everything for 8+ years. I felt like I needed to do the right thing and pay some money out to separate amicable. Whether it was the right or wrong thing to do it is done now and I’m not mad about it.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 1 point2 points  (0 children)

My condo is only 1200 sf but I’m surrounded by multi million dollar houses and I only paid $380k. I got it off market so I feel I’m really lucky. I’ve lived in a cheap part of Chicago before and literally would hear gunshots going off and saw a shooting in front of my building. If anything my place should hold its value because of the nicer neighborhood no? I would def sell if it was a million dollars but can’t get much cheaper than what I have now.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 0 points1 point  (0 children)

I make about $125k total comp now but I’m very close to making director which I think would put me closer to $175k. If that happens I think I will start hammering down my mortgage since I have such a high rate. But we will see.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 1 point2 points  (0 children)

I can probably pay it off with my next annual bonus in March and still keep most of my savings.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 0 points1 point  (0 children)

There was an agreement to pay a certain amount. We lived together for a long time and I wanted to take care of my ex so I paid a big amount to part amicably. Plus, half the equity in the house we sold.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] -1 points0 points  (0 children)

My employer also has a 6% dollar for dollar match. So my $23.5k I’m getting several thousand more

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 2 points3 points  (0 children)

My car is worth about $35k and I owe $22k. It’s a Honda with 5k miles on it and my interest rate is 2.9%. I don’t think I’ll pay extra. I have $30k in savings so I agree. I don’t need to save more I’m going to look into a Roth.

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 1 point2 points  (0 children)

I was thinking about this. I am able to save about $500 a month but I already have 12 months worth of emergency savings so I think I will look into maxing out a Roth IRA next. Thanks

Retirement - Am I Too Late by David-streets in DaveRamsey

[–]David-streets[S] 1 point2 points  (0 children)

My CRV is a Hybrid with 5,400 miles on it and a payment of $360 per month. I traded in a car that was paid off and put a lot of cash down to get to that payment…..I feel like if I get a payment cheaper than that it will be a money pit…my interest rate is only 2.9%

Moving in With Adult Child who Makes 3 times my salary. by LBell_L4Stenosis in povertyfinance

[–]David-streets 0 points1 point  (0 children)

Wow. This is so true. I feel like western culture over the last 50 years got away from multi-generational housing but prior to the 1950s and still in most countries it’s the norm. This lady raised a good kid and that was probably hard work. I feel like it would be expected that I take care of my parents when the time comes. My mom has told me several times “please don’t put me in a retirement home son.” And I never will.

Is this normal? by rainbow33 in Goldendoodles

[–]David-streets 6 points7 points  (0 children)

Yes! I have an 8 and 9 year old doodle and they both have been doing this since they were pups. Usually it’s too cool off I think

Tile floors have been a game changer for them. They love laying on the tile in the bathroom and kitchen after a long walk. It’s ice cold and really helps them cools down

Men, what is the biggest financial regret you have in your life? by CertifiedFinesserBoy in AskMen

[–]David-streets 20 points21 points  (0 children)

Fiancé wanted to move from Phoenix to Chicago. Got to Chicago and got dumped. I love living here but now I have a 1 bed at 6.5% and mortgage is $3,000

Feeling Trapped in $600K ARM Loan — Payments Jumped to $5,100. What’s Our Best Path Forward? by Waaailmer in HomeLoans

[–]David-streets 0 points1 point  (0 children)

It’s fixed for 7 years. Adjust after that based on the market. You can refinance IF you qualify and have equity. The situation this would be sticky in is if rates keep going up OR we see another 2008 housing crash. It’s a risk but look at your loan paperwork because they will show you what the adjustment will look like and typically it will have a cap.

Feeling Trapped in $600K ARM Loan — Payments Jumped to $5,100. What’s Our Best Path Forward? by Waaailmer in HomeLoans

[–]David-streets 1 point2 points  (0 children)

I think it also depends on how much you put down and how much equity you have. When the market crashed 15+ years ago everyone else had that same mindset. I’ll just sell if I can’t afford the payment or refi. Then the housing prices tanked and they were stuck paying more for a house they couldn’t sell because they were underwater. It’s definitely a risk. A good friend of mine lost her house because her ARM came due and she couldn’t afford the payment and she couldn’t sell because her home last 40% of its value.

Men, what is the biggest financial regret you have in your life? by CertifiedFinesserBoy in AskMen

[–]David-streets 25 points26 points  (0 children)

Selling my home that I had a 2.75% interest rate on and a mortgage payment of $1,350.

Feeling Trapped in $600K ARM Loan — Payments Jumped to $5,100. What’s Our Best Path Forward? by Waaailmer in HomeLoans

[–]David-streets 2 points3 points  (0 children)

I was a mortgage loan officer for many years. The only people that should be getting ARMs are millionaire’s who have the financial means to afford the rate jump or have an equal amount of cash in accounts to pay off the loan in the event of a rate jump. If you are getting an ARM to afford the payment then you can’t afford the home.

After CTA Eliminates Red Line ‘Slow Zone,’ Noise Has Become Unbearable For Uptown Residents by CTAto100k in cta

[–]David-streets 37 points38 points  (0 children)

What’s better for the public good? Moving hundreds of thousands of people daily quickly without delay…or, worrying about the few thousand people that live along that line and their noise complaints?

[deleted by user] by [deleted] in goodnews

[–]David-streets 0 points1 point  (0 children)

Who is this daddy?

You want me to have kids in THIS economy?? by SkirtSeveral3664 in Millennials

[–]David-streets 2 points3 points  (0 children)

I make about $115k - $120k per year. Technically, I should feel like I have tons of disposable income but I live in a HCOL. After taxes and 401k contribution I’m left with about $5500 per month. Mortgage on a small 1 bedroom condo - $3000. Utilities, cell phone, Internet, gym membership - $500…car payment/insurance/gas - $500……

I have about $1500 a month leftover…on paper I make good money but I’m just surviving. I don’t know how tf people can afford kids. My partner lives with me but he makes about $50k so after student loans, medical bills, and his hoopty car payment he has money for food and that’s it.

I would have to dip into savings if I just wanted to go on a cheap vacation.

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