 If you were offered $1500 to whack off in front of camera for a website would you do it? |
Additional Details
edit: not only that but the trip to the studio is all expenses paid, 3 day ... |
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 How long before money is in account? |
hi folks, just withdrew money from an online cash ISA and was wondering how long it will be before the money is in my current account?
thanks for looking and replys in advance!
A... |
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 What is a good and easy way to save money? |
| I'm not good with saving money, at all. As soon as i get it i spend it, i'll put it on my savings for a few days but i always end up spending it...........Help!!!!... |
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 Could you live if you were me? |
I bring home an average of $21,600 a year AFTER taxes. Meaning, an average of $11,400 come out of my check a year to pay my taxes and company benefits.
In 2008, I will automatically spend $... |
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 Is it always better to pay off debts i.e. loans/credit cards if you come into money as opposed to saving it? |
| I have debts which equate to being slightly higher than some money I will be coming into. Should I pay off as much debt as possible or invest the money?... |
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 I'm 14. how can i save up enough money to buy a macbook? |
| i want a macbook so freaking badly, you have no idea. I'm only 14 so i cant really get a job, how else can i make enough money in a few months to buy a macbook?... |
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 I need money, what should i sell? |
| i got 3 tickets; not showin liscence, failure to show registration, and running a red light... what should i sell to come up with the cash?... |
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fifty2weekhi | Should I mortgage my house or pay cash? |
I'm just buying a modest townhouse for which I can use 25% of my savings to buy it outright without any financing costs. But I've had people making big cases about how the mortgage interests are tax deductible. But I don't get it. If I pay $10,000 in interest, sure I can pay $3,000 less income tax. But I'd still have to pay $7,000 interest out of pocket. IMO, I'm better off paying cash. No? I'm not doing well on investing the stock mkt BTW. |
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John S
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Get the mortgage. Your calculations don't include the following:
The mortgage improves your credit score
The mortgage makes your purchase a "leveraged purchase"
The mortgage deduction will enable you to itimize your deductions
One of the basic principles of investing is " a dollar today is worth less than a dollar tomorrow" (due to inflation). In other words, pay off your mortgage with "less valuable" dollars.
Mortgage rates are around 5% to 5.5% now. You can do better investing.
As for the investing, the stock market is at record highs. If you aren;t doing well, I suggest you look into mutual funds. Fidelity has a group of mutual funds that are a fund if mutual funds. Call Fidelity and ask about the Freedom Funds.
If this doesn't work out, you can always pay off your mortgage later.
Make sure the mortgage is Fixed Rate, no pay-off fees, and fully ammortized. |
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tennessee
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pay cash. check out dave ramsey web site. |
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Arturo S
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If you plan on living forever in that same place, which I doubt, then pay cash. If you're going to be there for a few years why pay cash, mortgage it. Why have that money tied there for nothing in return, it's better to mortgage it and invest the rest in muni-bonds, which are tax free and higher than the interest you're gonna pay on that mortgage. |
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Steve P
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Pay cash, then it's yours and paid for forever. Simple.
The logic of mortgaging is just as you've said, you send in $10,000 in order to have $3,000 less in tax liability. This doesn't make sense |
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gimp3836@sbcglobal.net
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Your logic is flawless. Pay cash and make payments to yourself, take the interest as fun money and deposit the principle into a dollar cost averaging account of your choice.
Enjoy the new home... |
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Amanda L
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Mortgage...re-invest the rest |
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mibanker
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The real question is if you can make more on your funds than the 6% or so that you pay in mortgage interest. Assume that you are able to generate a return of 9% by investing current funds, the difference (not including tax advantages) you would net approx. a 3% gain. Yes, there is always a risk in any investment, but I would think prudent research would minimize this for you.
Good luck. |
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zeebya
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Depends on what you want for your credit rating. Paying cash is great on the surface of it, but if you get a mortgage and keep the payments timely, then it can help to boost your credit rating. If that kind of thing is important to you. |
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Kathryn
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One factor to consider is how long you plan to own the townhouse. If you only want to live there a few years, then it might be wise to take out a mortgage. As a previous responder wrote, it would give you more leverage. On the other hand, if you plan to live there for the rest of your life, then pay cash and enjoy the freedom of no mortgage payment. |
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Clifton
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I say pay cash for the house. I like the example you give about paying $7,000 to a mortgage company to not send the government $3,000. That does sound like a bad deal, doesn't it?
Here is an example of why I would pay cash for a house if I had the money to:
Cost of House: $150,000
Interest Rate on a 15-year fixed: 5.75%
If you use a mortgage @5.75%, and invest the $150,000 you would have bought the house with outright into good growth stock mutual funds that average a 10% annual return on investment, you will have this when your house is paid off:
$626,587 in investments and a $150,000 house that you paid $224,211 for.
If you pay cash for the house and invest the money you would have paid on house payments in the same mutual funds that average a 10% return annually, this is what you would have at the same moment you would have paid off the 15 year mortgage:
A $150,000 paid-for house that you paid $150,000 for and over $1.1 MILLION in investments!
If you don't feel comfortable at all about investing and don't invest anything, at least you will save yourself a little over $74,000 in interest by paying for the house with cash as opposed to taking out a mortgage. |
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Matt I
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If you can pay cash then PAY CASH!!!
You don't want a mortgage hanging over you, even if it would end up cheaper in the long run - there will be some sort of complication somewhere.
PAY CASH.
Doing well investing in the stock market? I'm obsessed so I wish I was as lucky! |
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Enchanted
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Pay Cash. You will still have most of your savings. Your credit rating will not *suffer* for it, it just won't increase. Quite frankly, with the capitol you have, your credit will be fine anyway. The deductions are nice,but you never get all that interest back anyway.
Pay CASH. |
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Kim
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If you can afford it, pay in cash! |
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☼evolvedkw☼
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PAY CASH! There is no feeling on earth like the one you have when you own your own house debt free! Trust me you will never regret it. |
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jrenee49
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pay cash! |
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BamaGreenBack
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Debt free is the way to be. Definitely buy the house out right. No reason to pay interest if you don't have too. |
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