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I have called the financial office of the lender and arranged for the payments to be made automatically, with the extra going straight to principle. I guess the guy at the dealership just did not know what he was talking about??!

Thank you all for the great responses. The 15 year mortgage sounds like a great idea as well, I am worried about commiting myself to such a huge note. I essentially made double payments on the place we are in now, but I always worry about things going south and having high amounts of committed...

Very interesting post. What are some other options for tax-deferred savings other than 401K and HSA for those employed individuals whose income is too high for IRA??

Thank you all for the great replies and advice. The 50% savings/taxes estimate I used was for retirement savings only. So, we will use 50% of our gross for mortgage, cars, all other living expenses. What we will do is have 20-25% of our gross taken out of our paycheck automatically before we...

This site is really great, one of the best financial sites I have seen on the web. I have posted here before, but wanted to introduce myself, and ask a few questions now that I am a little more well read on the subject. I am 30, wife is 27. We both really want to retire early (hopefully when...

I have been reading lately about the so-called coffeehouse portfolio. Old hat I know, but I am new to this game. For those that don't know, the portfolio is structured as follows: 40% TOTAL BOND MARKET 10% LARGE CAP 10% LARGE VALUE 10% SMALL CAP 10% SMALL VALUE 10% REIT 10% INTERNATIONAL...

As far as "Rich Dad" is concerned, I think he makes some good, but overstated and common sense, points. I do think that the book is basically a launching pad for his other products. I left it without any real insight or plan.

Just downloaded a copy of "Four Pillars" to glance through while waiting for the book to come in. Looks like real solid stuff so far.

Thanks for the advice everyone! :) BTW, Rich, I cannot take credit for the binge analogy. It was in a book by Gillette Edmunds. Carl

The toughest thing will be to keep the spending in check. I can only speak for myself, but being in school so long kind of seems like a financial diet. Unless you are already independently or dependently weathly, you spend so many years living on just student loans that you become impatient. The...

yeah, the loans are steep. I owe 136K all together, locked that in at 3.3%, which will go down to 2.3% if I make the first 36 months payment on time. If I pay 1000/month, it will be payed off in less than 15 years. In all honesty, medical school probably is not a good financial decision in many...

Thanks for the replies! Laurence, my choses profession is medicine (oncology in particular). So, higher starting salary than many, but a heck of a long time to get there. I will be 32 when I finally earn 350K. In the meantime, I will not even earn half that because I am completing training for...

Sorry about the confusion. What I meant was that my cost of living will be 138K before retirement, and that i will need to withdraw 80K/year after retirement. I predict that I will make ~350K/year, will live on 138K, and the rest will go to taxes and savings. Without the mortgage, student...

Thanks for the replies. As a recent graduate, I am just beginning to work. Therefore, I am at least 20 years from retirement. So, I am just fooling around and trying to get a ballpark to plan for the future, pick out how aggresive to be, etc. I figure my living allowance before takes will...

newbie here to the forum! Quick background: I am 29, would like to retire before 50. I have a question: how did you decide how much you would need to retire? Can I just sit down, calculate my expected expenses after retirement today, adjust for 20 years of inflation, and use that as my target...

Thanks again for the input! I was actually researching the target retirement funds by Vanguard over the last week or so. They seem like a good option, I thing Vanguard is a good broker for someone like me in general (I am leaning more towards indexes and bonds). Can anyone else recommend other...

First of all, thank you for all the replies everyone. I am a new investor and have not even begun a portfolio yet (should have mentioned this), all I really have is money in savings account and not much at that (I have just graduated medical school (yesterday!) and did not have much to save...

I am a new member to this board, and want to run a quick thought/question by you. I have recently read a book by Gillette Edmunds called "How to Retire Early and Live Well...". In this book, he really seems to downplay fixed income securities in general, and bonds in particular. He states that...