Fireup2020
Thinks s/he gets paid by the post
- Joined
- Feb 5, 2007
- Messages
- 1,250
I mentioned on my welcome post that I am working on my short term savings.
All my "savings" is in retirement accounts (TSP, pensions, Deferrred comp) where AM NOT TAKING ANY money out - loan or authorized early w/d. On the flip side, because of my pension contributions - I have a little bit of money (I'd only be willing to take out a 5-10K loan)
Here's the kicker - my pension dollar amount has little to do with my contributions - it is based on my highest paying 12 months and my number of years employed and age of FIRE Loans are charged approx 4.25% interest.
Does it make any sense to this board to borrow $$$ out of my contribution collection to invest in something like a VG Target retirement account?
I'm also considering borrowing some of this in about 18 mos to replace my car (currently at 92K miles) - figured this interest rate is lower than typical for a used car
My vacation savings account (a personal priority) and regular "emergency" fund are growing slowly at $100 per mo each - just FYI.
I'm open to suggestions
All my "savings" is in retirement accounts (TSP, pensions, Deferrred comp) where AM NOT TAKING ANY money out - loan or authorized early w/d. On the flip side, because of my pension contributions - I have a little bit of money (I'd only be willing to take out a 5-10K loan)
Here's the kicker - my pension dollar amount has little to do with my contributions - it is based on my highest paying 12 months and my number of years employed and age of FIRE Loans are charged approx 4.25% interest.
Does it make any sense to this board to borrow $$$ out of my contribution collection to invest in something like a VG Target retirement account?
I'm also considering borrowing some of this in about 18 mos to replace my car (currently at 92K miles) - figured this interest rate is lower than typical for a used car
My vacation savings account (a personal priority) and regular "emergency" fund are growing slowly at $100 per mo each - just FYI.
I'm open to suggestions