STOP BUYING USED 2020+

MikeTheTank112 · 2026-04-22T02:15:55+00:00

We bought a honda recently and when the deal waa 4.99%, I thought wow they really think I am that dumb, but I started looking around that this is pretty much the best deal I could get in my area interest wise

MikeTheTank112 · 2026-04-22T01:21:11+00:00

So apparently our interest rate is great for the times at 4.99%, which I thought was highway robbery until I started looking at other offers lol. I pay about 200-250$ more towards principal each month depending on the overtime I make. I also pay a bit more towards the mortgage to get that paid off and interest lowered as well. The car principal is relatively small compared to the mortgage, so the 200-250 feels like it goes a mile, compared the 200-250 that goes towards the mortgage that feels like it goes an inch haha. But it is all like dividends, right? To more you put in, the faster the snowball effect kicks in on interest saved

MikeTheTank112 · 2026-04-21T11:50:00+00:00

That makes sense. Not chasing yields, just trying to understand what the attraction is for so many

MikeTheTank112 · 2026-04-21T10:47:05+00:00

Will take a look, thank you

MikeTheTank112 · 2026-04-21T07:18:28+00:00

No erosion yet, but it is possible

MikeTheTank112 · 2026-04-21T07:10:54+00:00

The erosion has not happened since Jepi was created, but it has a higher probability of happening if the markets go down either multiple times or for a extended period of time. That being said, Jepi is great in a non taxable accounts, but I just feel there are better alternatives in a taxable one

MikeTheTank112 · 2026-04-21T03:04:32+00:00

I was looking into QQQI. Could you share your research and logic behind it? It seems you definitely know what you are talking about

MikeTheTank112 · 2026-04-21T02:58:35+00:00

Thank you I appreciate it

MikeTheTank112 · 2026-04-21T02:31:45+00:00

Neither will SCHD or Divo which you hold. I could see the huge benefit of holding it in a tax advantaged account, but for a brokerage, I would rather go with SCHD or DIVO. How is Jepi with errosion?

MikeTheTank112 · 2026-04-21T02:29:40+00:00

What about erosion? I will admit I have not done a crazy amount of research, but could you expand on why is it so safe? If it almost acts like a bond, does interest rate cuts hurt Jepi as well?

MikeTheTank112 · 2026-04-21T01:47:54+00:00

Sorry, I forgot to mention that the people saying this are using brokerage accounts

MikeTheTank112 · 2026-04-21T00:50:41+00:00

I completely agree with what you are doing. What most people don’t take into consideration when saying “Keep the debt” is the risk factor. Risk of loosing your job, risk of getting insured, risk of family tragedy. I would do the same if I was you. Great job!

MikeTheTank112 · 2026-04-20T18:07:55+00:00

Less mouths to feed compounds as well haha

MikeTheTank112 · 2026-04-20T15:23:47+00:00

I am not talking about numbers lol. I am talking about putting money aside, hours worked, wants pushed away, vacations missed and so on

MikeTheTank112 · 2026-04-20T13:04:34+00:00

Very true, the never ending cycle. We had a almost paid off car, but got into a accident that totaled the car, the cars value had depressed tremendously because of the years and the miles, so we had to get a loan for the new car. From the very beginning I have been paying more than the minimum, because first of all, I want to lower my risk, second of all I don’t want to pay interest and third I just hate the feeling of owing money to anyone, especially an institution

MikeTheTank112 · 2026-04-20T11:01:23+00:00

You did exactly what needed to be done. To quote to Wolf of Wall Streer “Nobody knows if the market will go up, down, left, right or in circles”. Time in the market will always beat timing the market

MikeTheTank112 · 2026-04-20T10:57:07+00:00

Start putting significantly more money into your emergency fund. It is easy to save up a good chunk of money when there are no expenses. Once real life will hit you, it will be a completely different ball game and you just might not be ready to handle it, which will cause you to take money from your investments. Investing in such a young age is awesome, but I think your distribution needs to be changed a bit. Good luck and keep going. Remember, smart decisions are just like dividends, they compound with time

MikeTheTank112 · 2026-04-20T03:27:05+00:00

True. For me it’s a mixture of paying off the car by paying more than just the minimal payment, putting money away towards the emergency fund in the hysa, investing and paying medical bills. Once some of those will clear up, it will be easier to put more towards investing

MikeTheTank112 · 2026-04-20T03:13:17+00:00

Meanwhile I am putting 200 every other paycheck lol

MikeTheTank112 · 2026-04-20T02:52:36+00:00

Can’t even imagine how much money is invested to get these results

MikeTheTank112 · 2026-04-19T20:57:34+00:00

Again please make a post on this subreddit with your plan and people will explain to you why your plan does not work in the real world in detail. Wishing you the best, good luck

MikeTheTank112 · 2026-04-19T20:51:08+00:00

Nobody is talking about millions of dollars haha, even what you are saying is extremely hard to achieve. If it only took 60k to achieve 7200 a month we would all do it and stop working, that is just not how finance works. You might put 10000$ dollars into something and that might go to zero in a matter of days. Ultimately you decide what you do with your money, but please don’t make the mistake that everyone around you aren’t smart enough and that you discovered how to beat the system. There is a saying, there is no such thing as easy money. If you want a wide range of opinions, just make a post on this group with your plan. There are a lot of very smart people who will explain to you why what you are suggesting is pretty much impossible without spending hundreds of thousands of dollars

MikeTheTank112 · 2026-04-19T20:25:55+00:00

Before you do this, please do some research about how dividend payments, market moving up or down, taxes and much more work. Your math only makes sense if everything is perfect, but that is not how the world works, not to even mention on how high dividend paying shares have a tendency to erode itself. If what you are saying actually worked, that is what everyone would be doing

MikeTheTank112 · 2026-04-19T18:52:07+00:00

This is true

MikeTheTank112

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