ptatc Posted January 7, 2016 Share Posted January 7, 2016 QUOTE (Chisoxfn @ Jan 6, 2016 -> 07:20 PM) I haven't looked into this in detail (as I'm not yet eligible for any deferred comp, but something I will consider in time as a way to potentially manage taxes + another potential option to stagger for long-term future in regards to helping kids with college), that said, my understanding from a high level read I did of my companies policy lead me to believe what you mention above is true. Not sure how it works in terms of government employees though. I'm curious what happened for some of the counties in the country that have BK'd (if deferred comp was lost). Is their someone within the state who you could discuss with in more detail? Found out today that the deferred money does go into a 457 account. So they handle it differently than true "deferred" money. It was a relief with the situation of the state budget. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 12, 2016 Share Posted January 12, 2016 Crude Oil actually printed under $30 today. Front month gasoline is under $1.10. For us suburbanites, that means prices at the pump around $1.60 or $1.70. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2016 Share Posted January 12, 2016 The barrels themselves are more expensive than what's inside of it. Quote Link to comment Share on other sites More sharing options...
Y2HH Posted January 12, 2016 Share Posted January 12, 2016 QUOTE (bmags @ Jan 12, 2016 -> 01:53 PM) The barrels themselves are more expensive than what's inside of it. I actually wonder how close this is to being true. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2016 Share Posted January 12, 2016 Speaking of: it's not like delivery services are lowing prices. Shouldn't they see some bigger margins from gas being $2 cheaper? They don't look like any price boon is built into their stocks now. Quote Link to comment Share on other sites More sharing options...
Y2HH Posted January 12, 2016 Share Posted January 12, 2016 QUOTE (bmags @ Jan 12, 2016 -> 01:54 PM) Speaking of: it's not like delivery services are lowing prices. Shouldn't they see some bigger margins from gas being $2 cheaper? They don't look like any price boon is built into their stocks now. I actually recall some services raising prices due to how must gasoline cost at one time -- always quick to raise a price, very slow to lower. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2016 Share Posted January 12, 2016 QUOTE (Y2HH @ Jan 12, 2016 -> 01:54 PM) I actually wonder how close this is to being true. Not sure what re-sale value is but http://www.amazon.com/SKOLNIK-Carbon-Steel...55+Gallon+Drums Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted January 12, 2016 Share Posted January 12, 2016 is any oil actually stored or transported in 55 gallon drums these days? I'd imagine it's mostly tanker trucks/pipelines->supertankers/transcontinental pipelines->tanker trucks->your gas tank Quote Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2016 Share Posted January 12, 2016 Probably not most but the statement isn't factually inaccurate if using the barrell as a measurement. Quote Link to comment Share on other sites More sharing options...
bmags Posted January 12, 2016 Share Posted January 12, 2016 Amazon really pushing more oil drums on me. Quote Link to comment Share on other sites More sharing options...
Y2HH Posted January 13, 2016 Share Posted January 13, 2016 QUOTE (bmags @ Jan 12, 2016 -> 05:41 PM) Amazon really pushing more oil drums on me. Now you've gone and done it...Amazon probably has you profiled as some oil tycoon now. Quote Link to comment Share on other sites More sharing options...
cabiness42 Posted January 13, 2016 Share Posted January 13, 2016 Amazon really pushing more oil drums on me. Next you'll be getting threats from environmental groups. Quote Link to comment Share on other sites More sharing options...
LittleHurt05 Posted January 13, 2016 Share Posted January 13, 2016 QUOTE (Y2HH @ Jan 12, 2016 -> 01:55 PM) I actually recall some services raising prices due to how must gasoline cost at one time -- always quick to raise a price, very slow to lower. We still pay fuel surcharges to a majority of our business vendors. Quote Link to comment Share on other sites More sharing options...
cabiness42 Posted January 20, 2016 Share Posted January 20, 2016 Suddenly Tom Petty's "Free Fallin" is running through my head. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted January 29, 2016 Share Posted January 29, 2016 Anyone ever do any property purchases through tax auctions? Any tips or warnings? Quote Link to comment Share on other sites More sharing options...
LDF Posted January 30, 2016 Share Posted January 30, 2016 (edited) QUOTE (southsider2k5 @ Jan 29, 2016 -> 08:18 PM) Anyone ever do any property purchases through tax auctions? Any tips or warnings? it is very tricky. 1. get a idea of what a house of your dimension is worth in that neighborhood. 2. get an idea of property taxes for that area. 3. if you can, or if they will provide a walk thru or disclosure on any damages, ie: electrical, water, pipes, termites, cracks in the foundation, age of roof, leaks. 4. see if anything is or was grandfather in, 5. is if you will need to pay taxes past, future and present fees and taxes. 6. come up with a price and stick to it..... you may have to walk, but if you do, then walk away. you will be competing with others like you as well as realty agents. Edited January 30, 2016 by LDF Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted February 1, 2016 Share Posted February 1, 2016 My best advice is don't do it (I have no personal experience but I've heard my dad, whose been in the business 40 plus years, echo those sentiments many times). So many potential things that can get you in trouble (that the upside isn't worth it, unless you know exactly what you are doing). Quote Link to comment Share on other sites More sharing options...
3GamesToLove Posted February 3, 2016 Share Posted February 3, 2016 I've been paying ahead on my student loans, but found out that as a teacher I may be eligible for $5k in forgiveness in a couple years. What do I do? I've been paying ahead a decent amount, $100 over the minimum each month and also 1/2 of each of my extracurricular stipends. At that rate I'd be done with my payoff in about 5 years rather than 10. But I recently found out that by the end of my 5th year teaching (June of 2018), I could receive up to $5,000 in forgiveness from the government. At my current rate, my loans would all be gone at that time! What I've done for now is stopped paying ahead so much and started putting that extra towards my car instead. Once that's paid off, I think I'll start stashing everything that I was paying for that each month in savings, just in case something happens and I don't get the forgiveness, and can pay off the debt at that time anyway. Does this seem sound? I know the car debt isn't ideal because of the difference in interest, but if someone else is going to pay my $5,000 I'd like to let them! Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted February 3, 2016 Share Posted February 3, 2016 For my two cents, with student interest rates being much lower than consumer debt AND it being tax deductible, it would be one of the last things I would pay off. If you have credit cards, pay those first. If you have a car loan, pay that next. Then pay your student loan, and last of all mortgage. Quote Link to comment Share on other sites More sharing options...
3GamesToLove Posted February 3, 2016 Share Posted February 3, 2016 QUOTE (southsider2k5 @ Feb 3, 2016 -> 08:42 AM) For my two cents, with student interest rates being much lower than consumer debt AND it being tax deductible, it would be one of the last things I would pay off. If you have credit cards, pay those first. If you have a car loan, pay that next. Then pay your student loan, and last of all mortgage. Thanks. I don't carry a balance on my credit cards; just pay them off every month. My interest rate on my car is lower than my student loans. Quote Link to comment Share on other sites More sharing options...
StrangeSox Posted February 3, 2016 Share Posted February 3, 2016 QUOTE (southsider2k5 @ Feb 3, 2016 -> 08:42 AM) For my two cents, with student interest rates being much lower than consumer debt AND it being tax deductible, it would be one of the last things I would pay off. If you have credit cards, pay those first. If you have a car loan, pay that next. Then pay your student loan, and last of all mortgage. I think the counter-point to that would be that those other debts can much more easily be discharged in a bankruptcy or assets sold to cover it (sell your house to pay mortgage, sell your car to pay loan or at least some of it) if it ever came to that, but student loan debt can hang around your neck forever. I'd still agree with any high interest debt first (e.g. credit cards), but after that I might prioritize student loans over car loans. Hopefully having to even worry about bankruptcy is a really low probability risk, but still something to consider. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted February 3, 2016 Share Posted February 3, 2016 QUOTE (StrangeSox @ Feb 3, 2016 -> 09:56 AM) I think the counter-point to that would be that those other debts can much more easily be discharged in a bankruptcy or assets sold to cover it (sell your house to pay mortgage, sell your car to pay loan or at least some of it) if it ever came to that, but student loan debt can hang around your neck forever. I'd still agree with any high interest debt first (e.g. credit cards), but after that I might prioritize student loans over car loans. Hopefully having to even worry about bankruptcy is a really low probability risk, but still something to consider. Obviously if there are debt and credit problems that can change things, but from a financial standpoint, student load debt at least has some financial benefit with being tax deductible. Quote Link to comment Share on other sites More sharing options...
Jenksismyhero Posted February 3, 2016 Share Posted February 3, 2016 QUOTE (3GamesToLove @ Feb 3, 2016 -> 08:22 AM) I've been paying ahead on my student loans, but found out that as a teacher I may be eligible for $5k in forgiveness in a couple years. What do I do? I've been paying ahead a decent amount, $100 over the minimum each month and also 1/2 of each of my extracurricular stipends. At that rate I'd be done with my payoff in about 5 years rather than 10. But I recently found out that by the end of my 5th year teaching (June of 2018), I could receive up to $5,000 in forgiveness from the government. At my current rate, my loans would all be gone at that time! What I've done for now is stopped paying ahead so much and started putting that extra towards my car instead. Once that's paid off, I think I'll start stashing everything that I was paying for that each month in savings, just in case something happens and I don't get the forgiveness, and can pay off the debt at that time anyway. Does this seem sound? I know the car debt isn't ideal because of the difference in interest, but if someone else is going to pay my $5,000 I'd like to let them! If you're confident you'll still be able to get that $5,000 (i.e., you're not going to change jobs), I'd stop paying the extra and apply that money towards other debt and/or save it or invest it. You're just throwing away money if you get that $5k in a few years and it covers way more than you actually owe. If it's a significant amount that you're "overpaying," the other thing you can do is change your repayment plan to income-based. Most likely the payment amount will be less than any regular repayment plan. Do the math and find out where would you be in June 2018 with the $5k in forgiveness paying that lesser monthly amount. Lastly, be sure to look up the $5k forgiveness requirements. My wife gets the non-profit forgiveness after 10 years and there are all sorts of requirements including the amount of qualified payments, that you contact a special office and get on a list so they know you're in that program, etc. Your servicing company should be able to help you with all of that. Quote Link to comment Share on other sites More sharing options...
Chisoxfn Posted February 3, 2016 Share Posted February 3, 2016 If you can get 5K wiped off (and you are certain of it...I will bold this because you need to be clear you can get that forgiveness without any issue). Calculate whatever your interest cost will be on that amount (I presume much smaller) and make sure 5 years from now you have exactly 5K to get that reduction (I'd also check but I presume that 5K reduction will be taxable unless there is some excemption related to forgiveness of student debt). Oh and just put the extra money into a downpayment for a house account or some other savings account (obviously don't go blow it). But if you truly can get the 5K reduction, my theory is you should take it (it is there for a reason). This is nothing different than a millionaire or a billionaire would do when it came to tax planning strategies, etc. By the way, touche, in general sounds you have been savy with your funds (no debt and working aggressively to pay this down...only thing being, if you can get 5K for free, why not take it). Quote Link to comment Share on other sites More sharing options...
3GamesToLove Posted February 3, 2016 Share Posted February 3, 2016 QUOTE (Chisoxfn @ Feb 3, 2016 -> 10:32 AM) If you can get 5K wiped off (and you are certain of it...I will bold this because you need to be clear you can get that forgiveness without any issue). Calculate whatever your interest cost will be on that amount (I presume much smaller) and make sure 5 years from now you have exactly 5K to get that reduction (I'd also check but I presume that 5K reduction will be taxable unless there is some excemption related to forgiveness of student debt). Oh and just put the extra money into a downpayment for a house account or some other savings account (obviously don't go blow it). But if you truly can get the 5K reduction, my theory is you should take it (it is there for a reason). This is nothing different than a millionaire or a billionaire would do when it came to tax planning strategies, etc. By the way, touche, in general sounds you have been savy with your funds (no debt and working aggressively to pay this down...only thing being, if you can get 5K for free, why not take it). Thanks--I've looked into the requirements quite a few times and it certainly seems I will qualify so long as I stay here or go to another school that meets the low-income requirements. I doubt things will unfold in any other way. And again, at least I'm putting the money towards something. (getting the car paid off will be good), and then I'll have a ton stashed in a savings account if somehow I don't wind up getting the forgiveness. And yeah, I've been in very sound shape. I have relatives who worked in more lucrative fields who decided to pay off their student loans IMMEDIATELY by living a beggars' life for a few years. I've done a good job balancing my spending so far--I do have probably $5k or so beyond a rainy day fund that I want to do something with...probably looking into a CD. Again, getting married this summer and likely will be starting a family in about three years. Having both my car and student loans paid off by then, and possibly my Master's Degree, seems like a good plan to me. Quote Link to comment Share on other sites More sharing options...
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