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Savings...

Discussion in 'Money & Finance Forum' started by VA49er, Jun 1, 2009.

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  1. Jun 11, 2009 at 8:42 AM #21
    49erpi

    49erpi Full Access Member

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    46 years old and only 5000 in savings. Wow.

    And lol to people who post their salary on a message board.
     
  2. Jun 11, 2009 at 9:23 AM #22
    VA49er

    VA49er Full Access Member

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    Just use the link in CAPLOCKS thread above and you won't need a financial planner to figure out how much extra principle you need to pay the house off in five years. Also, remember if you pay off your mortgage early you won't have the interest deduction anymore so you have to consider the tax consequences.

    Most CPA/CFAs will tell you need at minimum enough money in an emergency savings account to pay 6 months of bills. I would suggest more with this economy.
     
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