Basic financial questions and tips.

[JACK-2]

An action RPG.

[The Big Daddy C-Master]

What would the plot be about?

Also are you debt free?

[JACK-2]

Jun 12, 2015 15:35:53 GMT -5 The Big Daddy C-Master said:

What would the plot be about?

Also are you debt free?

Unfortunately no, with schooling and what not. But, outside of that I don't really have liabilities: No kids, frugal living, etc.

I was hoping for a military themed jrpg with some fantasy. What about you, have any debt and what do you want to do or are doing?

[The Big Daddy C-Master]

Jun 12, 2015 17:34:03 GMT -5 JACK-2 said:

Jun 12, 2015 15:35:53 GMT -5 The Big Daddy C-Master said:

What would the plot be about?

Also are you debt free?

Unfortunately no, with schooling and what not. But, outside of that I don't really have liabilities: No kids, frugal living, etc.

I was hoping for a military themed jrpg with some fantasy. What about you, have any debt and what do you want to do or are doing?

The reason I'm wondering if because if you're closing in on paying off your debt, it would be a good time to invest. I don't think it's as good an idea when you're still renting money (paying interest).

You don't have an absurd amount like $150k or something do you?

[JACK-2]

Jun 12, 2015 18:31:56 GMT -5 The Big Daddy C-Master said:

The reason I'm wondering if because if you're closing in on paying off your debt, it would be a good time to invest. I don't think it's as good an idea when you're still renting money (paying interest).

You don't have an absurd amount like $150k or something do you?

I'm not close to paying off my debt and my debt is not that high. So, I should wait to invest?

[The Big Daddy C-Master]

Jun 13, 2015 19:10:16 GMT -5 JACK-2 said:

Jun 12, 2015 18:31:56 GMT -5 The Big Daddy C-Master said:

The reason I'm wondering if because if you're closing in on paying off your debt, it would be a good time to invest. I don't think it's as good an idea when you're still renting money (paying interest).

You don't have an absurd amount like $150k or something do you?

I'm not close to paying off my debt and my debt is not that high. So, I should wait to invest?

Well investments often have a minimum requirement and regulations. You can invest but it does have fees.

Paying off your debt means you aren't paying interest to borrow money. The sooner you're free from that the better.

That said if you leave the country you wouldn't be on hold for the debt. I don't know where you are debt wise but if you plan on leaving and not worrying about it you might be better off saving.

You could try online banks as they have higher interest and less fees since they have no physical building with employees picking their noses most of the day.

[JACK-2]

So, Well, I'm nowhere near close to paying off. So, what should my initial step be?

[The Big Daddy C-Master]

Jun 13, 2015 19:18:01 GMT -5 JACK-2 said:

So, Well, I'm nowhere near close to paying off. So, what should my initial step be?

Are you building up savings?

[JACK-2]

Jun 13, 2015 19:19:18 GMT -5 The Big Daddy C-Master said:

Are you building up savings?

Yes, I'm saving. I live a very frugal lifestyle and I don't buy anything I don't need for the most part.

[The Big Daddy C-Master]

Jun 13, 2015 19:21:08 GMT -5 JACK-2 said:

Jun 13, 2015 19:19:18 GMT -5 The Big Daddy C-Master said:

Are you building up savings?

Yes, I'm saving. I live a very frugal lifestyle and I don't buy anything I don't need for the most part.

Do you have any unsecured debt?

[JACK-2]

Unsecured debt?

[The Big Daddy C-Master]

Jun 13, 2015 19:28:27 GMT -5 JACK-2 said:

Unsecured debt?

High interest debt with no collateral, think credit cards and the like.

[JACK-2]

Do student loans count? I don't have any credit card debt since I never loan money just to consume.

[The Big Daddy C-Master]

Jun 13, 2015 19:37:01 GMT -5 JACK-2 said:

Do student loans count? I don't have any credit card debt since I never loan money just to consume.

Nah those are just student loans. They are subsidized at low interest rates and you can't file bankruptcy. You can pay those off slower, but it's best not to rack up too much.

Are you taking them out now?

[JACK-2]

Jun 13, 2015 19:40:54 GMT -5 The Big Daddy C-Master said:

Do student loans count? I don't have any credit card debt since I never loan money just to consume.

Nah those are just student loans. They are subsidized at low interest rates and you can't file bankruptcy. You can pay those off slower, but it's best not to rack up too much.

Are you taking them out now?[/quote]

No, I'm still in the process of paying them off. Should I invest now?

[The Big Daddy C-Master]

Jun 13, 2015 19:42:59 GMT -5 JACK-2 said:

Jun 13, 2015 19:40:54 GMT -5 The Big Daddy C-Master said:

Do student loans count? I don't have any credit card debt since I never loan money just to consume.

Nah those are just student loans. They are subsidized at low interest rates and you can't file bankruptcy. You can pay those off slower, but it's best not to rack up too much.

Are you taking them out now?

No, I'm still in the process of paying them off. Should I invest now?[/quote]
Well how long are you going to be in the US and would you say it's substantial? Do you have money put to the side for emergencies in case something goes wrong?

[JACK-2]

Is 5 years substantial? I'm trying to finish up as fast as I can, but I don't have much funds yet.

[The Big Daddy C-Master]

Jun 13, 2015 20:13:21 GMT -5 JACK-2 said:

Is 5 years substantial? I'm trying to finish up as fast as I can, but I don't have much funds yet.

You have 5 years of school left, 5 years of debt, or 5 years of savings? Is your debt in the 5 digits?

[JACK-2]

Jun 13, 2015 20:18:48 GMT -5 The Big Daddy C-Master said:

Jun 13, 2015 20:13:21 GMT -5 JACK-2 said:

Is 5 years substantial? I'm trying to finish up as fast as I can, but I don't have much funds yet.

You have 5 years of school left, 5 years of debt, or 5 years of savings? Is your debt in the 5 digits?

I estimate it will take me 5 years to build enough wealth to move and finish school basically.

[The Big Daddy C-Master]

Jun 13, 2015 20:34:08 GMT -5 JACK-2 said:

Jun 13, 2015 20:18:48 GMT -5 The Big Daddy C-Master said:

You have 5 years of school left, 5 years of debt, or 5 years of savings? Is your debt in the 5 digits?

I estimate it will take me 5 years to build enough wealth to move and finish school basically.

Does that include paying student loans?

What do you hope to leave with? Are you revoking you US citizenship?

[JACK-2]

Hopefully, in does include paying off debt. I'm hoping to leave with my bachelors and then I'll try to get a doctorate, when I try to get my doctorate I'll probably start going back and forth between the U.S. and wherever in east asia I choose to live. I'll dump my citizenship when I start to make some real money.

[The Big Daddy C-Master]

Jun 13, 2015 20:41:45 GMT -5 JACK-2 said:

Hopefully, in does include paying off debt. I'm hoping to leave with my bachelors and then I'll try to get a doctorate, when I try to get my doctorate I'll probably start going back and forth between the U.S. and wherever in east asia I choose to live. I'll dump my citizenship when I start to make some real money.

So you won't be double taxed? I would pay the debt down, but light investments wouldn't hurt if you had savings.

Some say invest college loan money since the interest is low. Do that at your own risk.

[JACK-2]

Double taxed? So, I should pay the debt down before anything else?

[The Big Daddy C-Master]

Jun 13, 2015 20:55:54 GMT -5 JACK-2 said:

Double taxed? So, I should pay the debt down before anything else?

If you live outside of the US, you still pay US taxes.