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Old 08-14-2015, 07:43 AM   #21
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Someone has to pay the pastor, keep the lights and heat on in the meetinghouse, etc. Think of it as a user fee, not charity.

Good point.

Solely as an economic comparison, I pay 120 dollars per month at the 24 hour gym. There are 200 "members" at the gym to sustain it, cool or heat it, keep the lights on and pay the trainers and coaches. That's 20k per month for operating budget. Oh and said gym also needs to earn a profit.

So how much do churches take in and need to operate ? I'd guess 100 - 200 bucks per family for a church with 200 families is more than adequate.

1000 dollars per month just seems astronomical to me for a young family to pay as a "user fee" every month .. and that budget in improper hands seems very prone for misuse.

My opinion only. No intent to hijack the discussion of budget and FIRE. Tithe is a choice and is discretionary in nature hence the pause and debate. For some it's a non starter to adjust. For others it can be reduced when other objectives take higher priority.
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Old 08-14-2015, 08:02 AM   #22
Recycles dryer sheets
 
Join Date: Dec 2014
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You remind me of me when I was 29. I'm 50 now.

If I had it over again:

- I wouldn't get fancy with picking investments, I'd invest 100% in Vanguard index 500 and forget about it. I tried picking hot funds and it cost me money and sleep.

- I wouldn't take out any type of permanent life insurance. I'd get a 20 year term policy for yourself and the wife. I have a couple VUL policies with a lot of value, they've actually performed quite well, but my trouble is I can't get at the money anyway. It costs a FORTUNE to keep a VUL policy going in your later years, just look at the mortality cost at age 95 and you'll see that all the cash value you've accumulated will be needed to pay the cost of insurance. I'm cashing mine in as soon as I'm retire and am in a lower tax bracket.

- Get a line of credit instead of being your own bank.

- HSA accounts are great.

- Drive good used vehicles and keep them for a long time.

- Don't worry about paying off a long term mortgage early, it's cheap money. Invest the money instead.

Good luck to you and your family.

- 529 plans for your children really do work, I'm sending my youngest to college and there's enough to pay for all of it. It feels great.

- at age 29 down markets are your friend, don't panic.

- Most important, enjoy your youth and your family. Get a good plan in place and stick with it and spend your time enjoying your family.
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Old 08-14-2015, 08:31 AM   #23
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I wonder if it is this: Bank On Yourself (770 accounts)
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Old 08-14-2015, 09:37 AM   #24
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Originally Posted by Gumby View Post
Someone has to pay the pastor, keep the lights and heat on in the meetinghouse, etc. In my church, the vast majority of my regular pledge goes to these purposes. Christian outreach (helping the poor, hungry and homeless) is usually accomplished by separately raised funds. So if you go to church for worship services and to have your kids in Sunday school, keep in mind that there is an expense directly associated with that, and you should help pay it. Think of it as a user fee, not charity.

Agree... DW's church has figured out what this cost is and sends us a bill every year.... she also puts in some small donations when she goes, again to keep the church going.... we also donate food etc. for church activities... one year I cooked 5 briskets for an event....
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Old 08-14-2015, 10:32 AM   #25
Confused about dryer sheets
 
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Thanks everyone for the advice. It is much appreciated. I do agree I don't know much when it comes to the stock market as most of my "expertise" is in real estate.

JC
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Old 08-14-2015, 11:16 AM   #26
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You don't really need to know very much because you are not investing in individual stocks, you are in effect buying the sock market as a whole, which has a long history of increasing in value albeit with some volatility.

For someone your age a world stock market index fund (covers both the US and foreign stocks) or a total stock market index fund (covers domestic stocks) is an easy way to invest at a low cost. Many of us here are partial to Vanguard, but Fidelity and Schwab seem to also be pretty good.

https://personal.vanguard.com/us/fun...FundIntExt=INT
https://personal.vanguard.com/us/fun...FundIntExt=INT
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