Comments on: Checkpoint: My Current Financial Situation http://www.BorrowFromNone.com/2008/08/checkpoint-my-current-financial-situation/ Blending simple and straightforward financial discussion with Biblical principles to assist normal people like us in being good stewards of our finances. This site includes tips for increasing income, reducing expenses, getting out of debt, saving, investing, and being content. Fri, 30 Jul 2010 11:16:59 -0600 http://wordpress.org/?v=abc hourly 1 By: Pete http://www.BorrowFromNone.com/2008/08/checkpoint-my-current-financial-situation/comment-page-1/#comment-30 Pete Tue, 05 Aug 2008 15:53:13 +0000 http://www.BorrowFromNone.com/?p=19#comment-30 Great post, it's interesting to read other people's financial journeys, where they've come from, and where they're going. 8% match. WOW.. that's all i can say. I'll be staying tuned for more great posts - and see you round plurk! Pete's last blog post...<a href="http://feeds.feedburner.com/~r/BibleMoneyMatters/~3/356356955/cartoon-funny-of-the-week-22.html" rel="nofollow">Cartoon Funny of the Week</a> Great post, it’s interesting to read other people’s financial journeys, where they’ve come from, and where they’re going.

8% match. WOW.. that’s all i can say.

I’ll be staying tuned for more great posts – and see you round plurk!

Pete’s last blog post…Cartoon Funny of the Week

]]> By: Tom E http://www.BorrowFromNone.com/2008/08/checkpoint-my-current-financial-situation/comment-page-1/#comment-25 Tom E Mon, 04 Aug 2008 14:14:43 +0000 http://www.BorrowFromNone.com/?p=19#comment-25 Thanks John. I agree with your position about retirement first, college second. And, considering your healthy retirement contributions (8% company match!?!?!...Are you kidding me? I must admit that causes me to covet!), I can see why you are agressively paying down debt. As a household, a 22% annual retirement savings rate is very respectable, especially considering the national average is WAY below that. Perhaps a future blog post? Thanks John. I agree with your position about retirement first, college second. And, considering your healthy retirement contributions (8% company match!?!?!…Are you kidding me? I must admit that causes me to covet!), I can see why you are agressively paying down debt. As a household, a 22% annual retirement savings rate is very respectable, especially considering the national average is WAY below that. Perhaps a future blog post?

]]> By: John http://www.BorrowFromNone.com/2008/08/checkpoint-my-current-financial-situation/comment-page-1/#comment-24 John Mon, 04 Aug 2008 13:53:32 +0000 http://www.BorrowFromNone.com/?p=19#comment-24 Tom, I feel that retirement savings is the most important long-term savings priority. I think it should come before saving for college (you can't get a scholarship for retirement), before prepaying a mortgage, etc. With a company match in a 401k, I think that should funded at least to get the entire match. For us, we currently do some retirement but will do more when the debt is gone. (my wife does 6% and I do 7% in a 401k and I get an 8% match on that ('8' is not a misprint) - so though not near the max, it is a fairly significant number). We have decided that getting rid of the student loan debt is a very high priority for us - others certainly might disagree. I don't think that having a tax advantaged plan or company match should affect <b>whether or not</b> a person saves for retirement - just <b>where</b> they save. I plan on doing a series in the near future on how <b>I</b> would structure a basic financial plan and will get into much more detail on these topics then. Thanks for reading and commenting! Tom,
I feel that retirement savings is the most important long-term savings priority. I think it should come before saving for college (you can’t get a scholarship for retirement), before prepaying a mortgage, etc. With a company match in a 401k, I think that should funded at least to get the entire match. For us, we currently do some retirement but will do more when the debt is gone. (my wife does 6% and I do 7% in a 401k and I get an 8% match on that (’8′ is not a misprint) – so though not near the max, it is a fairly significant number). We have decided that getting rid of the student loan debt is a very high priority for us – others certainly might disagree.
I don’t think that having a tax advantaged plan or company match should affect whether or not a person saves for retirement – just where they save.
I plan on doing a series in the near future on how I would structure a basic financial plan and will get into much more detail on these topics then.
Thanks for reading and commenting!

]]> By: Tom E http://www.BorrowFromNone.com/2008/08/checkpoint-my-current-financial-situation/comment-page-1/#comment-22 Tom E Mon, 04 Aug 2008 12:27:48 +0000 http://www.BorrowFromNone.com/?p=19#comment-22 John, Great post and I commend your bravery for laying out, 'the path less traveled.' It seems you and your wife have a plan and are working it effectively. I'm curious though, to hear your thoughts on how retirement savings ranks as a financial priority? I may have missed it, but it seems like your primary focus is debt repayment (which is a very good thing) and your retirement savings is taking a second seat? I know you mentioned you were doing some retirement savings, how important do you feel that is in the grand scheme of things? And how do the pre-tax and employer advantages (like 401k %-age matches) affect the rankings? Does that make sense? Thanks, Tom E John,

Great post and I commend your bravery for laying out, ‘the path less traveled.’ It seems you and your wife have a plan and are working it effectively. I’m curious though, to hear your thoughts on how retirement savings ranks as a financial priority? I may have missed it, but it seems like your primary focus is debt repayment (which is a very good thing) and your retirement savings is taking a second seat?

I know you mentioned you were doing some retirement savings, how important do you feel that is in the grand scheme of things? And how do the pre-tax and employer advantages (like 401k %-age matches) affect the rankings? Does that make sense?

Thanks,

Tom E

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