Comments for AllFinancialMatters http://allfinancialmatters.com A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Wed, 16 May 2012 22:06:13 +0000 hourly 1 http://wordpress.org/?v= Comment on Half of All Americans Aren’t Doing a Thing for Retirement? by BG http://allfinancialmatters.com/2012/05/15/half-of-all-americans-arent-doing-a-thing-for-retirement/comment-page-1/#comment-467730 BG Wed, 16 May 2012 22:06:13 +0000 http://allfinancialmatters.com/?p=7418#comment-467730 tom) "If they couldn’t afford to save for retirement, why the hell did they decide to start a family?" Perhaps they thought they were financially OK when the kids were born -- glad to hear that you can guarantee your income stability for the next 18 years. "Seems like a pretty stupid decision to have kids when you can’t even afford to take care of your own needs." That's a want, not a need (saving for retirement). I think it is pretty stupid decision seeing people go through foreclosures, carry massive amounts of debt, etc: all the while having a large 401k balance. tom) “If they couldn’t afford to save for retirement, why the hell did they decide to start a family?”

Perhaps they thought they were financially OK when the kids were born — glad to hear that you can guarantee your income stability for the next 18 years.

“Seems like a pretty stupid decision to have kids when you can’t even afford to take care of your own needs.”

That’s a want, not a need (saving for retirement).

I think it is pretty stupid decision seeing people go through foreclosures, carry massive amounts of debt, etc: all the while having a large 401k balance.

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by JLP http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467728 JLP Wed, 16 May 2012 20:51:13 +0000 http://allfinancialmatters.com/?p=7420#comment-467728 BG, Yes, it is not wise to have all your money in company stock. I think a good rule of thumb is no more than 10% of your net worth and even that may be aggressive to some people. BG,

Yes, it is not wise to have all your money in company stock. I think a good rule of thumb is no more than 10% of your net worth and even that may be aggressive to some people.

]]> Comment on Half of All Americans Aren’t Doing a Thing for Retirement? by tom http://allfinancialmatters.com/2012/05/15/half-of-all-americans-arent-doing-a-thing-for-retirement/comment-page-1/#comment-467726 tom Wed, 16 May 2012 19:25:31 +0000 http://allfinancialmatters.com/?p=7418#comment-467726 @BG, You missed my point. If they couldn't afford to save for retirement, why the hell did they decide to start a family? Seems like a pretty stupid decision to have kids when you can't even afford to take care of your own needs. @BG,

You missed my point. If they couldn’t afford to save for retirement, why the hell did they decide to start a family?

Seems like a pretty stupid decision to have kids when you can’t even afford to take care of your own needs.

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by BG http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467724 BG Wed, 16 May 2012 17:48:40 +0000 http://allfinancialmatters.com/?p=7420#comment-467724 Roth's do not count against you on the FAFSA, but 529a do? This is something I must research... Roth’s do not count against you on the FAFSA, but 529a do? This is something I must research…

]]> Comment on Half of All Americans Aren’t Doing a Thing for Retirement? by Jack http://allfinancialmatters.com/2012/05/15/half-of-all-americans-arent-doing-a-thing-for-retirement/comment-page-1/#comment-467722 Jack Wed, 16 May 2012 17:33:01 +0000 http://allfinancialmatters.com/?p=7418#comment-467722 Federal government, that is. Federal government, that is.

]]> Comment on Half of All Americans Aren’t Doing a Thing for Retirement? by Jack http://allfinancialmatters.com/2012/05/15/half-of-all-americans-arent-doing-a-thing-for-retirement/comment-page-1/#comment-467721 Jack Wed, 16 May 2012 17:32:19 +0000 http://allfinancialmatters.com/?p=7418#comment-467721 I am not a government employee. I'm a contractor. Furthermore, government employees hired after 1984 don't get pensions anymore. I am not a government employee. I’m a contractor.

Furthermore, government employees hired after 1984 don’t get pensions anymore.

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by Jack http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467719 Jack Wed, 16 May 2012 15:31:12 +0000 http://allfinancialmatters.com/?p=7420#comment-467719 Now, if the T-bird were in mint condition, how much would it be worth? :-) Now, if the T-bird were in mint condition, how much would it be worth? :-)

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by Evan http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467718 Evan Wed, 16 May 2012 15:00:16 +0000 http://allfinancialmatters.com/?p=7420#comment-467718 But the late 80's thunderbird was a sweet ride lol But the late 80′s thunderbird was a sweet ride lol

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by Jack http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467715 Jack Wed, 16 May 2012 12:44:21 +0000 http://allfinancialmatters.com/?p=7420#comment-467715 I think that planning is the key. For instance, let us say that one is planning to buy a car. It will take a couple of years to get the money. So you put the money away FOR THAT PURPOSE. Now, WHERE do you put it? Why not a Roth IRA? Any interest you get will be tax-free forever. Mind you, do not withdraw any more than you put in (to avoid the penalties). Similarly, if saving for your child's college education, if you put that into an education savings account, it hits you on the FAFSA. However, a Roth IRA does not factor into the FAFSA calculations. I think that planning is the key.

For instance, let us say that one is planning to buy a car. It will take a couple of years to get the money. So you put the money away FOR THAT PURPOSE.

Now, WHERE do you put it?

Why not a Roth IRA? Any interest you get will be tax-free forever. Mind you, do not withdraw any more than you put in (to avoid the penalties).

Similarly, if saving for your child’s college education, if you put that into an education savings account, it hits you on the FAFSA. However, a Roth IRA does not factor into the FAFSA calculations.

]]> Comment on A Real-Life Example of People Thinking with Their Hearts and Not Their Brains by Money Beagle http://allfinancialmatters.com/2012/05/16/a-real-life-example-of-people-thinking-with-their-hearts-and-not-their-brains/comment-page-1/#comment-467714 Money Beagle Wed, 16 May 2012 12:39:02 +0000 http://allfinancialmatters.com/?p=7420#comment-467714 I think taking money out of my retirement account would be the very last option I'd ever use, like to the point where it would be going homeless or without food as the only other option. Certainly never to buy a car. I think taking money out of my retirement account would be the very last option I’d ever use, like to the point where it would be going homeless or without food as the only other option. Certainly never to buy a car.

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