How does she/both of you like the Camry Hybrid and would please share the mileage. My sister bought a Ford hybrid and it's been getting low 40's until the cold snap and it's still in the upper 30's. Way better than my 2011 Cruze that gets 30 on a good day.
Retirement Targets
- Thread starter yowza
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How does she/both of you like the Camry Hybrid and would please share the mileage. My sister bought a Ford hybrid and it's been getting low 40's until the cold snap and it's still in the upper 30's. Way better than my 2011 Cruze that gets 30 on a good day.
At 59, I got my short-term substitute teaching license. Hyper easy cash and you control how much you do.
Combined with my tax practice(right now 60+ a week), I get 9 weeks off over the summer.
I am the poster child for the gig economy.
We have been maxing 529 plans for both kids for 4 or 5 years with extra going into the oldest for catch up. My wife fully paid for her 4 years and my parents and Army paid for mine so complete different experiences. 2 reasons why we are doing it is it saves me $1,000 a year in Iowa Taxes and it forces my wife to save money.
12-18 DMR headline,
" IPERS' unfunded pension liabilities total $6.8 billion, will get worse before better"
IPERS is like all invested pension funds, they live and die with the S&P 500. Good luck.
Well if I remember right last time IPERS got in the deep end the rest of the taxpayers of Iowa bailed it out even though our investments took the same hit in the stock market. That was quite a few yrs ago so I may be misremembering.
Actually IPERS is one of the best funding public retirement plans in the nation. This is from the link you posted, but forgot to add from 2018.
IPERS' funded ratio — which measures actuarial assets to actuarial liabilities — is 82.4 percent, up from 81.4 percent a year earlier. The unfunded actuarial liability totals $6.815 billion, a decrease of $153 million — about 2 percent — compared to the previous fiscal year.
State Treasurer Michael Fitzgerald, who chairs the IPERS' Investment Board, described the report as great news. "Our pension fund is solid, sound and sustainable. Iowans should feel very comfortable with the position that IPERS is in," he said.
How would IPERS be any different than a 401K plan, does it have some magic ability to not live and die with the S&P 500, I think not. We are all in this together, the difference is people with a 401K are on their own, while people with a defined benefits program like IPERS still have people paying into the system when they are long retired.
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For the young folks on here this **** is not complicated. My wife and I were both crap students at ISU. We both earned under $30k after we graduated in 2000 me with a finance degree and her with marketing degree. That first real job either after college, high school or trade school if they have a matching 401k plan put at least the match amount in. For me that was 6% and her was 4%. Keep increasing it as you can until you reach the max of $19,500. It might take you 20 years but it can be done. If you get married try everything you can to not get divoreced, it is a financial death sentence.
I started 529's when the kids got SS numbers, so probably 4 months old each. I think I can swing 4 years of ISU for each of them, but it will be close.
Someone at a company I worked at had a great idea about their kids education. They saved for their kids education with the idea to pay for it. However, what they wanted to do was tell their kids that they had to pay for their own education, and then when they graduate, the parents would pay off their student loans. The idea was to force their kids to be financially responsible leading up to and during college.
I think when I was told this, the kids were still young, maybe middle school. So not sure if they followed through or not, but I think this is a great idea to a part of your #1 and #3. I don't buy the idea of because I didn't get it, means you can't have it either. I want my kids to have opportunities that I wanted as a kid, but couldn't get.
For those talking about cars, I get the feel that a lot of you think of cars as investments, depreciating assets, etc. Which from a pure balance sheet perspective they are. I think you should view cars as an expense, and like any expense, you want to pay the least amount for it in order to achieve your targeted desired quality/performance. I also plan on driving my cars to the ground too, so the idea of getting any kind of money for it would be a win in my book.
100% agree- I had a friend who planned to repay his kids loans too, I think that’s a solid plan.
This reminded me of this topic on reddit
AITA for not telling my kids I planned to pay off their student loans? : AmItheAsshole (reddit.com)
Yeah, I think in that scenario, the parents should split the money evenly. Part of being financialy responsible is to have a reward at the end (more money). The girl who only had 20k in loans, her reward should be to be +20k, while the other girl should be -20k.
This is what we're doing. I knew a handful of kids who had their school paid for when I was at ISU and not one single one graduated in 4 years and only 1 or 2 did at all. I'm sure that isn't the norm, but it scared me enough we started looking at options for repaying the kids loans instead of paying their tuition.
I thought about it at first. Knowing that if you have a combined income of about 60-70k the kids get no financial aid help, I realized that if I went that route my kids would be working a full time job and going to school. I want them to focus on school and not do poorly on a test since they had a late shift the night before.
My oldest is finishing year two and will graduate after three. My daughter starts next year and has 21 credits and will be out in 3 or 3.5 years. I told them that I expected them to come up with 10k for schooling. They know that getting out a semester early is it right there.My son will cost me about 32k for his bachelors, and if I figure the cost savings I had at home it will probably be about 25-28k for total cost.
Pretty sure 529s can not be used to pay student loans so if that is the plan please plan accordingly.
I would think an easier plan if you are going to help a kid with college is to have talks around expectations and how much you are willing to help.
I would think an easier plan if you are going to help a kid with college is to have talks around expectations and how much you are willing to help.
Couldn't agree more, I got a couple of big promotions so naturally thought i needed to match what my bosses had. Bought a new truck. I thought I was being smart because it was a 2018 when the 2020's hit the lot. Took the bate and financed through GM for the extra $'s off of the purchase price and never re-financed. Recently got into finacial planning and had an opportunity to buy and flip a house. Was planning on selling truck to gain some capitol for a down payment, turns out i'd basicallly get my down payment on my truck back - meaning that the past 2+ years of (double) payments were nearly for nothing. Worst finacial decision i have made. Also just realized how bad GM Finacial is screwing me over at a 7% intrest rate - currently in the process of getting that re-financed. Plenty of good used vehicles you can get 2nd hand - let someone else eat the depreciation.
Law changed, you can use them to payoff loans now.
