Can you put your own brass into 401K's (not coming out of your paycheck)?
Can you put your own cash into 401K's (not coming out of your paycheck)?Answers: No...a 401k can solely be funded via payroll deduction. The solely exception to that is a rollover...and that would own to come from an IRA. So, the workaround is to put money into an IRA and then roll it into the 401k. You're constrained to 4k if you go this route..easier method would be to simply change your 401k assumption to 100% and then live past its sell-by date the cash. IE if you looked-for to put in 10k of change and you make 5k a month...adjustment your deferral percentage to 100% for 2 months. Does the exact same thing as you want to do.
if you're not maxing out your 401k (15500/yr), in recent times increase the amount going into it - you can't put money into it any other way - by going around the system - if it be allowed - you'd be missing out on potential employer matching funds (free money)
What is the best £100/$200 or equivalent you enjoy ever spent?
Travelling on the cheap, or something you bought? Or whatever? Thanks.Answers: living over sea British money is sometimes 1.5 American dollars to get 1 British pound. same happen in Germany when connected grades. at one time it was reversed and 1 American for 2 results and a guy i new bought a brand bright BMW from the German factory.
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Which is better... pay off mortgage in 5 years or take that money and invest?
Answers: If we take a low fixed interest rate plus the tax write off for home mortgages the 'apparent' interest rate on a home loan can be exceedingly low.
There's no rocket science here. If the interst rate of your investing can beat the effective rate of your home loan you should invest.
On the other hand, money sitting in a savings account (a) 2% would be better put to reduce a home loan effectively (a) 4%.
The time period is irrelevent. Intererest is the time value of money. Unless you have a bad/high interest rate, you do not really 'save' money by paying off a loan early because less money today IS more money in the future.
Pay off your Mortgage because your home is a big investment.
My parents bought there home 20 years ago for 175,00. Now it is worth over 500,000. In the end, its a big pay out.
ask yourself that question this way--would you take out a home loan in order to invest the money in the stock market? hopefully, your answer to that is no! pay off the mortage first.
Pay off the mortgage so that you can invest your future money into other things that you may not understand now.
Right now paying off a mortgage is akin to throwing your money in a black hole in the ground. IF this market last 2 more years you could pay off a home that will not be worth the amount you plunked down to pay it off.
I'd at least wait to see where things are going.
Put your money where it is making money and hold on to it for minimum 18 months.
Just my opinion.
Paying off debt is an investment. It gives you peace of mind also.
Definitely pay off mortgage.