Debt repayment is something no one really wants to think about. But, it's something that a lot of us need to plan for. What's been some of the best strategies that work for you? Especially for someone who has a lot of time, but not a lot of money to get it done? 

Hey guys first post here but I'm hoping the community will help me weight out the pros and cons of my situation.

A few years ago I purchased my first home. Now my job is relocation me to a different part of Texas. I will be moving to a city with a lower cost of living as well as lower home prices.

My debacle is I own a home with 200k in equity. So I find myself at a cross road. Do I sell and take the money and by a home that I can almost pay off and do a 15 year loan, or do I rent out the property. If I rent out the property I'd most likely refinance to get my pmi off and pull money for a down payment on a new home in about a years time. I'm torn and don't think either move is a bad one.

I have a question. I have a Roth401 that i contribute 15% every week to from work that is taken out after taxes. I am also Investing 15% out of my net pay every week. I guess my question is, should I roll my Roth over from Merrrill into M1 Finance and keep everything together, or leave it as is?

Thank you for any help that can be provided.

I am one for those cliff hanger spenders, spending what I don't have

But here is the twist

I help people , I take care of my family

Thats why I do with my paycheck

So it justifies my spending right ???

I guess not cuz I have been working all my life and I don't have a savings or any investments

I have a pension plan and a life insurance but thats about it

Nothing liquid

And I am down to one source of income

So I am here to learn and I am open to advice and mentorship

I am also greiving so I'm using hurt to buy myself clothes and food  to feel better 🤦🏽‍♀

Thank u for reading

I recently became interested in finance and hope to learn much and contribute as well to move my knowledge to the next level.

I have owed 40K and over about 8 years have finally paid it off or negotiated pay off with bank!  As a single mom first and now a mom of young adults, learning how to manage my own money so I can also help others.  Love to learn and hopefully see my little money grow into a firm retirement plan.  That is one of my goals among many others. 

HI all my name is aka El Jefe. am in my 30 with the desire to fix the shtt i made in my finance and hope that i could retire comfort  ly

I regret not taking financial acumen and planning more seriously. That means I didn't prepare my children either. I'd hate for them to become as financially lazy as I have become. I'm behind and I know it. I'm in my last year of being in my 50's. Is it too late for me to "invest" and help myself out when I  stop working for others in few years?  Your advice is welcome and appreciated

These days everybody says take advantage of the low-interest rate, but is it really an advantage if I want to pay off my mortgage in 10-15 years? in my situation, I have to take 100-150k more in mortgage to compete in the current housing market...

Also, the home prices have increased almost 20% ...  ... low-interest-rate increased buying capacity but in most cases not giving you an option to buy the house you like. So you will be paying a premium for average properties...

Please share your thoughts ...

Hello my name is Josiah and I am glad to be a part of this group. I have been watching the youtube channel for some time and now I am looking to start implementing the things I've learned into m life

Hi,

I just heard about the unrealized capital gains tax proposal put forth by Senator Wyden. The articles keep talking about how it is going to make rich people pay on long-term investments. What does that mean for the middle class? Wondering what your thoughts are.

Thanks,

Chasity

Hello all!  I feel that I am finally near a point in my life where things are pretty comfortable and I am glad to find resources like this community to help inspire me to stay on track and make it the rest of the way there.

Growing up my parents never had much but they had their own business and I think as a result I always had a strong work ethic and never really developed a taste for fancy.  

My mindset was that I could advance myself by working really hard (at one point holding 3 jobs) but realized you can only do that so long and in the end there wasn’t much to show for it (also had a girlfriend at the time working against me financially).

However there were 2 (maybe 3) things looking back that I did absolutely right:

- As soon as I could I bought a house (I just never liked the idea of renting)

- As soon as I joined my current employer (20 years ago now) I elected to put 15% into the 401k they offered even though they were already offering a pension (which is a mandatory contribution of 7.5% salary and matched 100% - to the pension no match on 401k at the time).

- I never bought a new car, on average spending 3-4k and learned how to fix them myself so I would get many years and 150k+ miles out of each.

It was a struggle through my 20’s and 30’s but now reaching mid-40’s I think I see a light at the end of the tunnel (hopefully not a train lol).

That house I bought in my early 20’s is now a net income rental property and that 401k is on track to when combined with my pension double my current salary at retirement before any social security that may or may not exist.

Presently I am debt free for the last 4 years other than the mortgage, but I’m still not really saving a whole lot more than our emergency fund and what goes into the 401k.  That makes me worry that I should be saving more.

It looks like many companies are switching to remote work for good and other industries may not return after the pandemic at all. What I want to know is, will working-from-home become the new standard for businesses, will jobs return after the pandemic is over? Or is the job market in the US changing dramatically right before our eyes? What are your thoughts? 🤔🤔

Wife and I are researching properties for Airbnb in FL, and my wife stumbled on an article that stated if property is purchased you cannot rent it out. Like many subjects there is always more when you dig in further, is this in some areas and not others? How much truth is there to this?

Thanks for reading and engaging.

I am facing a tax issue, but let me preface it by saying this is a good problem to have. I have been blessed to see some massive gains in one particular stock I hold in my portfolio. My plan is to use these gains to completely pay off my mortgage (I told you they were massive) which will be liberating on a level that I cannot explain. The small issue (good problem) is that this will lead to a huge tax liability and possibly push me into another tax bracket. I have held the positions longer than a year, so the gains do qualify for long-term capital gains tax. I am open to all ideas offered. Thanks in advance for any suggestions.  

I have Life Insurance and a Roth IRA.

My advisor keeps pushing Life Insurance as an investment opportunity. After doing some research this seems to be a terrible idea. I want to 1. confirm I am correct and 2. ask the group's opinion on putting money into my Roth IRA on a monthly consistent basis?

I'm older and just trying to catch up after raising my children singlehandedly for almost 30 years.

Taxes can be a pain. Luckily, there are some creative ways to legally hack your taxes every year. What are some of your favorites?

I will be a first-time home buyer and have a 30% downpayment aside. Currently looking for a house but it's difficult as inventory is very very low.

Is there an option to invest this money (short team) and get some return?

I am older and came into a small amount of money. I would like to buy an investment property so my children can have some wealth.

I currently rent and the location of the potential properties are not in my state. Does that matter as it will not be my primary residence

Should I buy a fixer upper and try to get a loan for the renovations or just buy a house outright with no repairs needed but it costs more?

I know I am leaving out a lot of details but I hope this is enough to direct me on the right path.

Hello all,

My name is Shawn, I just recently started following Jaspreet and the Minority Mindset. I am new to all of this basically and look forward to learning how to grow my wealth.

Long Game FTW!!