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 > Investment Gurus-thoughts?

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Crowe

Merrimack, NH

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Posted: 03/07/20 08:24pm Link  |  Quote  |  Print  |  Notify Moderator

Your first mistake was taking a loan out of your 401K . Someone should have advised you against it.

We were actually advised to do it. It certain circumstances it makes sense. This was one of them.


I may not have gone where I intended to go, but I think I have ended up where I needed to be Douglas Adams

RV-less for now but our spirits are still on the open road.

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Bowling Green, KY

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Posted: 03/07/20 08:26pm Link  |  Quote  |  Print  |  Notify Moderator

Everyone’s situation is different.

camperforlife

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Posted: 03/07/20 08:53pm Link  |  Quote  |  Print  |  Notify Moderator

way2roll wrote:

troubledwaters wrote:

20.08%


Ain't no way a 401 earned over 20% over a year. I work at a bank, a large one with a huge investment arm. There may have been spikes in earnings in certain months. But no way it averaged gains over 20%.

Actually the national association of financial planners say that 2019 401K's ended the year 44.9% higher for those workers aged 25-34 with less than 4 years of tenure, while workers with more than 20 years of tenure, aged 55-64, registered a 24.6% increase. The difference is due to younger savers investing in more aggressive investments.

troubledwaters

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Posted: 03/07/20 09:54pm Link  |  Quote  |  Print  |  Notify Moderator

way2roll wrote:

troubledwaters wrote:

20.08%


Ain't no way a 401 earned over 20% over a year. I work at a bank, a large one with a huge investment arm. There may have been spikes in earnings in certain months. But no way it averaged gains over 20%.
A NASDAQ Index fund alone would have returned over 37% last year. Look it up. Now tell me I didn't earn 20.08%. I have no idea what your bank invested in or what their purpose was, but if they invested for long term capital gain they either they missed the boat, or like I said, I must be the top of the bell curve.

* This post was last edited 03/08/20 10:31am by troubledwaters *   View edit history

Crowe

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Posted: 03/08/20 07:31am Link  |  Quote  |  Print  |  Notify Moderator

Can we keep this thread on topic please? Arguing over the "truth" of statements is counter-productive. You can PM each other for that. Thanks.

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Posted: 03/08/20 07:58am Link  |  Quote  |  Print  |  Notify Moderator

Reminder, this is the topic:

"If you had the choice of paying off a 401(k) loan on which you were earning 5% interest or would you pay down on your mortgage? Mortgage is a 15 year note at 3.75% that we are just over a year into. Both of us are 59. Paying off the 401(k) loan would allow more current investment but paying down on the mortgage would lessen long-term debt. Thoughts?"

Wanderlost

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Posted: 03/09/20 02:58pm Link  |  Quote  |  Print  |  Notify Moderator

I'm firmly in the "Pay yourself back first" camp. Get your 401(k) back into shape so it can continue to build. As long as that loan is outstanding, that amount is not working for you. Meanwhile, the mortgage interest is tax deductible in many states, and if that's the case where you are, it's not hurting you to hold off on paying down the mortgage.

Once your 401(k) is paid back, then look at paying down your mortgage. The 401(k) is longer term than the mortgage, so its health should take precedence.

And that's my humble opinion, for what it's worth.


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wilber1

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Posted: 03/09/20 04:35pm Link  |  Quote  |  Print  |  Notify Moderator

Today I am glad 70% of my portfolio is fixed income and the rest pay a decent dividend. For now.


"Never trust a man who has not a single redeeming vice" WSC

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Posted: 03/10/20 10:16am Link  |  Quote  |  Print  |  Notify Moderator

Not an expert by any means and won't venture into running the numbers. DW and I are 60/59 respectively and still working although both are no longer chasing the c-suite.

Our portfolio (in market, out of market, real estate, precious metals, wooden nickels buried in the yard) did very well last year, but then the market-invested portion took a hit in the last week or two.

Everyone is different but, FWIW, were we dealing with the choice, we'd pay off the house. The peace of mind that we have experienced over the past 3 years (and 3 weeks!) of not having to deal with a house payment while the market gyrates is worth quite a bit to us.


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NJRVer

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Posted: 03/10/20 02:28pm Link  |  Quote  |  Print  |  Notify Moderator

Pay off the one that you owe the least money on.

The psychological boost of "paying off" a debt does have a "value" in itself.

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