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How is the economy affecting you.

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Level42:
What is a 401k ?

shardian:

--- Quote from: Level42 on March 12, 2009, 03:36:55 pm ---What is a 401k ?

--- End quote ---

A simple way of saying you'll never retire and be well off like your 'cadillac pension' grandparents.

Real answer: A retirement fund you pay into on your own (sometimes with a small employer match), that is tax deductible...until they rape you on taxes by accessing it later in life. The average American lost 30-50% of the value of their 401k the last year.

I laugh till I cry (it doesn't take long) when I go back and read the estimates that said I would 'average' 10% a year on that money.

CheffoJeffo:
Let me get this straight ... a father makes a choice to pay for his child's education (e.g. a good thing) and gets grief over it ?

I'm not sure whose lawn I should be getting off of with that one ?  :dizzy:




Cakemeister:

--- Quote from: pinballjim on March 12, 2009, 03:35:46 pm ---Why not cosign on the loans and then make payments, rather than lump summing it all at once?

Interest rates may be down, but it's a sucker move to hand over $20k in one shot to a university every year, when you can recover back at least some of that by investing the money in CDs.




--- End quote ---

Depending on what interest rates are for the loans, that's probably what we'll end up doing.

ahofle:

--- Quote from: CheffoJeffo on March 12, 2009, 03:45:11 pm ---Let me get this straight ... a father makes a choice to pay for his child's education (e.g. a good thing) and gets grief over it ?

I'm not sure whose lawn I should be getting off of with that one ?  :dizzy:

--- End quote ---

Exactly.
My parents put me and my 2 brothers through college and we all made it through to graduation and are appreciative of the better jobs we were able to obtain as a result.  I plan to put my kids through college as well.  I think instilling in your kids the importance of education is way more important in motivating them than making them foot the bill.

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