Comments on: Bob or Jim? The Final Chapter http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/ Helping People Find, Keep and Enjoy Their Money Tue, 20 Dec 2011 16:21:36 +0000 hourly 1 http://wordpress.org/?v= By: Evolution Of Wealth http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-124 Evolution Of Wealth Fri, 23 Oct 2009 12:21:27 +0000 http://evolutionofwealth.com/?p=304#comment-124 Of course. Thank you for quoting and I really appreciate the link back. Of course. Thank you for quoting and I really appreciate the link back.

]]> By: Polprav http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-123 Polprav Fri, 23 Oct 2009 03:54:02 +0000 http://evolutionofwealth.com/?p=304#comment-123 Hello from Russia! Can I quote a post in your blog with the link to you? Hello from Russia!
Can I quote a post in your blog with the link to you?

]]> By: Evolution Of Wealth http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-122 Evolution Of Wealth Fri, 09 Oct 2009 17:24:14 +0000 http://evolutionofwealth.com/?p=304#comment-122 I usually recommend high yield savings accounts over CDs because with CDs you have to wait until maturity date and there are fees/penalties for early access. That being said, there are a new bread of CDs starting to become popular that don't have these fees and penalties so they can be a good option if you make sure to understand what you are getting. Another thing to keep in mind is your tax bracket. If you have $10,000 or more in savings/CDs you might be paying a $100 or more dollars out of pocket to get your 2% rate of return. I wrote an old post about it http://evolutionofwealth.com/2009/08/05/compounding-interest-compounding-burden/ I usually recommend high yield savings accounts over CDs because with CDs you have to wait until maturity date and there are fees/penalties for early access. That being said, there are a new bread of CDs starting to become popular that don’t have these fees and penalties so they can be a good option if you make sure to understand what you are getting. Another thing to keep in mind is your tax bracket. If you have $10,000 or more in savings/CDs you might be paying a $100 or more dollars out of pocket to get your 2% rate of return. I wrote an old post about it http://evolutionofwealth.com/2009/08/05/compounding-interest-compounding-burden/

]]> By: Daniel http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-121 Daniel Fri, 09 Oct 2009 11:50:37 +0000 http://evolutionofwealth.com/?p=304#comment-121 What are your thoughts on investing in the short term (1-3 years)? Keep it in CDs and savings accounts? If I'm going to have this money left over, what should I be doing with it? Don't worry, you're not my only source of information.. What are your thoughts on investing in the short term (1-3 years)? Keep it in CDs and savings accounts? If I’m going to have this money left over, what should I be doing with it? Don’t worry, you’re not my only source of information..

]]> By: Evolution Of Wealth http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-120 Evolution Of Wealth Fri, 09 Oct 2009 01:53:01 +0000 http://evolutionofwealth.com/?p=304#comment-120 Thank you Daniel. You don't know how much I appreciate your comment. I started this blog to get people thinking about their finances rather than just accepting the way people say things are or should be. Because of you I know I've done that today. I don't know pretend to know enough about your situation to make a recommendation. I'm not Suze, but you are definitely on the right track with paying off the 6.8% loan. If I were you I would definitely consider focusing on flexibility in regards to your lower rate student loan. Don't forget that student loan interest can be tax deductible. Just as a side not, I don't mention investing in this post as I'm not a proponent of putting money at the risk of losing it. If you have more questions feel free to ask away. Thank you Daniel. You don’t know how much I appreciate your comment. I started this blog to get people thinking about their finances rather than just accepting the way people say things are or should be. Because of you I know I’ve done that today. I don’t know pretend to know enough about your situation to make a recommendation. I’m not Suze, but you are definitely on the right track with paying off the 6.8% loan. If I were you I would definitely consider focusing on flexibility in regards to your lower rate student loan. Don’t forget that student loan interest can be tax deductible. Just as a side not, I don’t mention investing in this post as I’m not a proponent of putting money at the risk of losing it. If you have more questions feel free to ask away.

]]> By: Daniel Packer http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-119 Daniel Packer Thu, 08 Oct 2009 18:15:42 +0000 http://evolutionofwealth.com/?p=304#comment-119 WOW! I think that's really interesting. We always hear that we should get rid of debt as fast as possible, but flexibility is probably the most important thing. Being stuck is horrible, but having options really makes things easier mentally. And financially, too, as you showed. My situation is that I have student loans. I just graduated college and have about $1,500 at 6.8% and $23,000 at 3.5%. So once I pay off the 6.8%, does it make more sense for me to invest that money and make minimum payments on the student loans? I guess so. This seems like the best time to invest, and my returns will surely beat 3.5% over the next few years. What do you think, should I retain my flexibility and invest for a few years? Or should I pay off that debt aggressively and have little in savings in 3 years? I'll definitely be passing this on. WOW! I think that’s really interesting. We always hear that we should get rid of debt as fast as possible, but flexibility is probably the most important thing.

Being stuck is horrible, but having options really makes things easier mentally. And financially, too, as you showed.

My situation is that I have student loans. I just graduated college and have about $1,500 at 6.8% and $23,000 at 3.5%. So once I pay off the 6.8%, does it make more sense for me to invest that money and make minimum payments on the student loans? I guess so. This seems like the best time to invest, and my returns will surely beat 3.5% over the next few years.

What do you think, should I retain my flexibility and invest for a few years? Or should I pay off that debt aggressively and have little in savings in 3 years?

I’ll definitely be passing this on.

]]> By: Twitter Trackbacks for Bob or Jim? The Final Chapter « Evolution of Wealth [evolutionofwealth.com] on Topsy.com http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-118 Twitter Trackbacks for Bob or Jim? The Final Chapter « Evolution of Wealth [evolutionofwealth.com] on Topsy.com Tue, 06 Oct 2009 16:22:48 +0000 http://evolutionofwealth.com/?p=304#comment-118 [...] Bob or Jim? The Final Chapter « Evolution of Wealth evolutionofwealth.com/2009/10/06/bob-or-jim-the-final-chapter – view page – cached * RT @Green_Panda: Enjoying Credit Cards – Close ‘em Shred ‘em & Forget ‘em! from @mattjabs http://bit.ly/2yVIdZ 29 minutes ago * RT @ObliviousInvest: Reading: 7 Steps For Networking With... (Read more)* RT @Green_Panda: Enjoying Credit Cards – Close ‘em Shred ‘em & Forget ‘em! from @mattjabs http://bit.ly/2yVIdZ 29 minutes ago * RT @ObliviousInvest: Reading: 7 Steps For Networking With A-Listers Fast http://bit.ly/dOJKB #mbm09 1 hour ago * RT @FiscalFizzle: RT @LenPenzo: The 7 Deadly Sins of Personal Finance. (Read less) — From the page [...] [...] Bob or Jim? The Final Chapter « Evolution of Wealth evolutionofwealth.com/2009/10/06/bob-or-jim-the-final-chapter – view page – cached * RT @Green_Panda: Enjoying Credit Cards – Close ‘em Shred ‘em & Forget ‘em! from @mattjabs http://bit.ly/2yVIdZ 29 minutes ago * RT @ObliviousInvest: Reading: 7 Steps For Networking With… (Read more)* RT @Green_Panda: Enjoying Credit Cards – Close ‘em Shred ‘em & Forget ‘em! from @mattjabs http://bit.ly/2yVIdZ 29 minutes ago * RT @ObliviousInvest: Reading: 7 Steps For Networking With A-Listers Fast http://bit.ly/dOJKB #mbm09 1 hour ago * RT @FiscalFizzle: RT @LenPenzo: The 7 Deadly Sins of Personal Finance. (Read less) — From the page [...]

]]> By: Bob or Jim? « Evolution of Wealth http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-117 Bob or Jim? « Evolution of Wealth Tue, 06 Oct 2009 15:03:29 +0000 http://evolutionofwealth.com/?p=304#comment-117 [...] Bob or Jim? The Final Chapter [...] [...] Bob or Jim? The Final Chapter [...]

]]> By: Bob or Jim? Part II « Evolution of Wealth http://evolutionofwealth.com/2009/10/bob-or-jim-the-final-chapter/comment-page-1/#comment-116 Bob or Jim? Part II « Evolution of Wealth Tue, 06 Oct 2009 15:01:03 +0000 http://evolutionofwealth.com/?p=304#comment-116 [...] Bob or Jim? The Final Chapter [...] [...] Bob or Jim? The Final Chapter [...]

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