kdamron
Familiar Member
Joined: Jan 17, 2011 10:52:02 GMT -5
Posts: 566
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Post by kdamron on Mar 29, 2011 13:43:27 GMT -5
I just discontinued $75 of the $100 a month I pre-pay on my mortgage and opened a taxable index fund at T Rowe Price with the monthly buy-in option! I went higher risk and plan on waiting ten years to see where it gets me. ;D
We'll see what happens...
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Post by Savoir Faire-Demogague in NJ on Mar 29, 2011 14:00:06 GMT -5
I'll drink to that....  |
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bean29
Junior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
Posts: 9,937 
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Post by bean29 on Mar 29, 2011 14:24:48 GMT -5
Tell me more kdamron,
how much was you initial deposit? How did you set up the account...was it on-line or face to face? How did you decide which fund to invest in - is it the only index fund they have?
I have been thinking that we need to have some investments that are outside our 401K in case we need funds when we are in our mid 50's or so.
Congrats on your decision and good luck.
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kdamron
Familiar Member
Joined: Jan 17, 2011 10:52:02 GMT -5
Posts: 566
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Post by kdamron on Mar 29, 2011 14:46:06 GMT -5
Hi Bean,
I already have my Roth IRA at T Rowe Price, so I just added another account. I did my homework on the fund I choose - it is higher risk (though not the highest) and took the plunge. I didn't put an initial investment amount (one of the reasons I stayed with T Rowe Price and not Vanguard), it will come out of my account at the first of the month.
Now I've been playing with compounding interest calculators to see where my $900/year might get me!
Oh, and full disclosure yes I fully fund my Roth and a 401K, so this would be a 'bridge' account, or maybe for a dp on another rental.
Good luck to you too!
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kdamron
Familiar Member
Joined: Jan 17, 2011 10:52:02 GMT -5
Posts: 566
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Post by kdamron on Mar 29, 2011 14:46:56 GMT -5
Oh and SF & Tbird -  |
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phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,409
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Post by phil5185 on Mar 29, 2011 15:16:35 GMT -5
What about the other $25/m?  |
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Deleted
Joined: May 2, 2024 22:08:04 GMT -5
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Post by Deleted on Mar 29, 2011 15:17:25 GMT -5
CONGRATS!! ;D
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
Posts: 809
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Post by azphx1972 on Mar 29, 2011 15:47:47 GMT -5
Given the current low interest rates, I would do the same thing. In fact, I'm not prepaying my 4.5% 30 year mortgage either.
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Deleted
Joined: May 2, 2024 22:08:04 GMT -5
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Post by Deleted on Mar 29, 2011 16:58:07 GMT -5
Congrats, and I'll drink to that too |
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kdamron
Familiar Member
Joined: Jan 17, 2011 10:52:02 GMT -5
Posts: 566
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Post by kdamron on Mar 29, 2011 17:02:21 GMT -5
What about the other $25/m? I left it...  |
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Deleted
Joined: May 2, 2024 22:08:04 GMT -5
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Post by Deleted on Mar 29, 2011 17:04:13 GMT -5
What about the other $25/m? I left it... Oh come on Phil, baby steps, baby steps.  |
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