Money How broke are you?

RaiderH8r · 03-19-2011, 07:53 AM

Quote:

Originally Posted by R8ers

Would you borrow 5k more to put in the bank? Then why would you hold a 5k debt when you have triple that in cash to pay it off?

Pay off that student loan and get it out of your life...

Mortgage, you make the call on that, thats a personal choice,My personal choice was to pay it off in full and kick wells fargo to the curb.

That's just stupid and myopic. If the $5K loan is accruing interest at 4% and the money market is making money at 10% then you've just lost 6% by paying off the loan instead of investing it.

Same goes for the home mortgage. Sure, if you're just going to stuff the cash in a mattress then pay off the debt. But if your rate is 5% and your ROI in the market is 20% /yr averaged over the life of the loan well you just earned a nifty 15% on money that otherwise would have gone in the can.

The only debt one should rush in an "at all costs" fashion to pay off is credit card debt. Christ, right now if got an ARM home loan your rate is actually lower than it was 3 years ago.

I know you like to fellate yourself from atop your high horse for your financial "savvy" but stop being a dick about it because the bottom line is throwing money out the window because you've assigned some misguided evil to debt is reeruned.

I work for my money then I make my money work for me. Bam.

My guitar still costs more than your car and I've still got more cabbage in the couch cushions than you earn in 2 years.

R8RFAN · 03-19-2011, 08:37 AM

Quote:

Originally Posted by RaiderH8r

That's just stupid and myopic. If the $5K loan is accruing interest at 4% and the money market is making money at 10% then you've just lost 6% by paying off the loan instead of investing it.

Same goes for the home mortgage. Sure, if you're just going to stuff the cash in a mattress then pay off the debt. But if your rate is 5% and your ROI in the market is 20% /yr averaged over the life of the loan well you just earned a nifty 15% on money that otherwise would have gone in the can.

The only debt one should rush in an "at all costs" fashion to pay off is credit card debt. Christ, right now if got an ARM home loan your rate is actually lower than it was 3 years ago.

I know you like to fellate yourself from atop your high horse for your financial "savvy" but stop being a dick about it because the bottom line is throwing money out the window because you've assigned some misguided evil to debt is reeruned.

I work for my money then I make my money work for me. Bam.

My guitar still costs more than your car and I've still got more cabbage in the couch cushions than you earn in 2 years.

Why would you pay someone 4% interest when you have cash money sitting there?

Keep thinking like that and you too will be broke all your life depending on someone else to decide if you will or will not have any money...

RaiderH8r · 03-19-2011, 08:49 AM

Quote:

Originally Posted by R8ers

Why would you pay someone 4% interest when you have cash money sitting there?

Keep thinking like that and you too will be broke all your life depending on someone else to decide if you will or will not have any money...

You are outside of your f'ing skull. It's like a cult with you. If I spend $5K to pay off a 5% loan vs spending $5K to invest at an ROI of 30% over the life of the loan I have MADE 25% over paying the loan off. Net 25% profits. Profit. Money in the pocket. So now the same $5K you would have me send out the door has earned me an extra $1500, in the pocket. That's a landau roof and power steering.

My point is that the money isn't sitting there. It shouldn't be sitting there. If it is, then a fool and his money were lucky to get together in the first place. Again, I work for my money then put my money to work for me. I have no problem carrying debt, particularly when the interest rate on my debt is outpaced by at least 4% ROI by taking that debt cash and investing it elsewhere. Yeah, I'm paying some asshole 5% interest on a loan but I've got that loan stacked somewhere else where someone is paying me 15%. So I pay off my 5 points to the bank and keep 10 for myself. How the **** does this not make sense to you? I'll kick over my couch for your year's wage and leverage that against a loan, invest it, make money and pay back my debt over the course of years while earning cash at the same time. It's how I can afford shits and giggles gifts to myself like Hyundai priced custom guitars.

R8RFAN · 03-19-2011, 08:57 AM

Quote:

Originally Posted by RaiderH8r

You are outside of your f'ing skull. It's like a cult with you. If I spend $5K to pay off a 5% loan vs spending $5K to invest at an ROI of 30% over the life of the loan I have MADE 25% over paying the loan off. Net 25% profits. Profit. Money in the pocket. So now the same $5K you would have me send out the door has earned me an extra $1500, in the pocket. That's a landau roof and power steering.

My point is that the money isn't sitting there. It shouldn't be sitting there. If it is, then a fool and his money were lucky to get together in the first place. Again, I work for my money then put my money to work for me. I have no problem carrying debt, particularly when the interest rate on my debt is outpaced by at least 4% ROI by taking that debt cash and investing it elsewhere. Yeah, I'm paying some asshole 5% interest on a loan but I've got that loan stacked somewhere else where someone is paying me 15%. So I pay off my 5 points to the bank and keep 10 for myself. How the **** does this not make sense to you? I'll kick over my couch for your year's wage and leverage that against a loan, invest it, make money and pay back my debt over the course of years while earning cash at the same time. It's how I can afford shits and giggles gifts to myself like Hyundai priced custom guitars.

You are a dreamer, you are no where near smart enough to got a 30% ROI on anything and if it were easy enough for someone of your financial intelligence to do so, everybody in the country would be doing the same thing...

Dream in one hand son and crap in the other and lets see which one gets full first.

P.S Point me to that bank paying 10% on a Money Market account

RaiderH8r · 03-19-2011, 06:23 PM

Quote:

Originally Posted by R8ers

You are a dreamer, you are no where near smart enough to got a 30% ROI on anything and if it were easy enough for someone of your financial intelligence to do so, everybody in the country would be doing the same thing...

Dream in one hand son and crap in the other and lets see which one gets full first.

P.S Point me to that bank paying 10% on a Money Market account

So that's the source of your cult like devotion to your philosophy; you can't do it so there must be no way to get it done. It makes perfect sense and my money market is pulling double digits routinely. Do your own f'ing homework you financial whiz.

**Saul Good** · 03-19-2011, 09:26 PM

Quote:

Originally Posted by RaiderH8r

So that's the source of your cult like devotion to your philosophy; you can't do it so there must be no way to get it done. It makes perfect sense and my money market is pulling double digits routinely. Do your own f'ing homework you financial whiz.

No offense, but I will bet my life that you aren't, and have never, made double digit returns from a money market. Here's betting that you are confusing a money market account with a mutual fund.

The highest interest rate currently being paid in the country (as far as I can find) is 1.1%, and it's by a pretty shady firm.

http://www.moolanomy.com/1333/how-to...duct=33&sort=2

The average money market rate in the US today is 0.29%. If you are getting 2%, let me know where, and I'll film you making pornographic videos with R8ers's underage daughter.

RaiderH8r · 03-20-2011, 09:57 AM

Quote:

Originally Posted by Saul Good

No offense, but I will bet my life that you aren't, and have never, made double digit returns from a money market. Here's betting that you are confusing a money market account with a mutual fund.

The highest interest rate currently being paid in the country (as far as I can find) is 1.1%, and it's by a pretty shady firm.

http://www.moolanomy.com/1333/how-to...duct=33&sort=2

The average money market rate in the US today is 0.29%. If you are getting 2%, let me know where, and I'll film you making pornographic videos with R8ers's underage daughter.

You're right, I did confuse the two. I'm referring to mutual fund/commodities/stock type investments.

**The Bad Guy** · 03-19-2011, 09:03 AM

Quote:

Originally Posted by RaiderH8r

You are outside of your f'ing skull. It's like a cult with you. If I spend $5K to pay off a 5% loan vs spending $5K to invest at an ROI of 30% over the life of the loan I have MADE 25% over paying the loan off. Net 25% profits. Profit. Money in the pocket. So now the same $5K you would have me send out the door has earned me an extra $1500, in the pocket. That's a landau roof and power steering.

My point is that the money isn't sitting there. It shouldn't be sitting there. If it is, then a fool and his money were lucky to get together in the first place. Again, I work for my money then put my money to work for me. I have no problem carrying debt, particularly when the interest rate on my debt is outpaced by at least 4% ROI by taking that debt cash and investing it elsewhere. Yeah, I'm paying some asshole 5% interest on a loan but I've got that loan stacked somewhere else where someone is paying me 15%. So I pay off my 5 points to the bank and keep 10 for myself. How the **** does this not make sense to you? I'll kick over my couch for your year's wage and leverage that against a loan, invest it, make money and pay back my debt over the course of years while earning cash at the same time. It's how I can afford shits and giggles gifts to myself like Hyundai priced custom guitars.

He's lucky he never "over induldged in anything" considering his financial advice is one of a ****ing caveman.

R8RFAN · 03-19-2011, 09:05 AM

Quote:

Originally Posted by The Bad Guy

He's lucky he never "over induldged in anything" considering his financial advice is one of a ****ing caveman.

As hot headed as you are, do you beat your woman?

**The Bad Guy** · 03-19-2011, 09:25 AM

Quote:

Originally Posted by R8ers

As hot headed as you are, do you beat your woman?

More bullshit questions from our resident financial advisor.

No, I've never raised a hand to my woman, ever. but I'm sure more of your insecurities will come out and you'll label me a woman-beater much the same way you tried to say Dane was a pedophile.

**Rausch** · 03-19-2011, 09:48 AM

Quote:

Originally Posted by The Bad Guy

No, I've never raised a hand to my woman, ever. but I'm sure more of your insecurities will come out and you'll label me a woman-beater much the same way you tried to say Dane was a pedophile.

WTF?

How does pedophelia play into economics?

Nevermind, i don't want to know...

R8RFAN · 03-19-2011, 10:45 AM

Quote:

Originally Posted by The Bad Guy

More bullshit questions from our resident financial advisor.

No, I've never raised a hand to my woman, ever. but I'm sure more of your insecurities will come out and you'll label me a woman-beater much the same way you tried to say Dane was a pedophile.

R8RFAN · 03-19-2011, 08:43 AM

Quote:

Originally Posted by RaiderH8r

That's just stupid and myopic. If the $5K loan is accruing interest at 4% and the money market is making money at 10% then you've just lost 6% by paying off the loan instead of investing it.

Same goes for the home mortgage. Sure, if you're just going to stuff the cash in a mattress then pay off the debt. But if your rate is 5% and your ROI in the market is 20% /yr averaged over the life of the loan well you just earned a nifty 15% on money that otherwise would have gone in the can.

The only debt one should rush in an "at all costs" fashion to pay off is credit card debt. Christ, right now if got an ARM home loan your rate is actually lower than it was 3 years ago.

I know you like to fellate yourself from atop your high horse for your financial "savvy" but stop being a dick about it because the bottom line is throwing money out the window because you've assigned some misguided evil to debt is reeruned.

I work for my money then I make my money work for me. Bam.

My guitar still costs more than your car and I've still got more cabbage in the couch cushions than you earn in 2 years.

P.S. you are not making 10% in a money market account, YOU may be making 10% in a ponzi scheme called a money market account.

Give me the name of that bank and a phone number, I will call them Monday