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U.S. Is Hiding Treasury Bond Data That's Suddenly Become Crucial - Bloomberg Business

Zombie ships send maritime freight into worst crisis in living memory - Telegraph

Moody's puts 175 commodity firms on review over bleak outlook | Reuters

Bullish!!!!

Futures up big, oil up big. All hail Super Mario!

Marketwatch headline: Chesapeake Energy shares surge 8% on news to suspend preferred stock dividends

CHK is on that list. It is a $3.50 stock that was 60 plus at the height of the oil bubble.

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5000.00 cash advance for basically an 80.00 fee. 0% interest for 12 months. Promotion from my Chase CC.

My wife is switching jobs and we had a loan on her 401-k for the home we bought (not our first). Still have about 8k left on the loan and it needs to be paid off or it will be 1099 (deem) as an early withdrawal from the 401-k and would be subject to a 10% penalty on top of having to probably pay 25% on it as taxable at the end of the year. So either we take an 8k loss on her 401-k and pay about 2500.00 next year for taxes on the 'early withdrawal' or I take advantage of the 0% for a year, pay the 80.00 and add the extra 2500.00 and it all goes back into the 401-k which will roll over to an IRA.

That is a no brainer right? I am not sure why, but I have been struggling with what to do about it for a few weeks. I want to make sure I am not forgetting anything.

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If I'm understanding you correctly, you're basically borrowing $5,000 for 1.5% for a term of 12 months. Yes, that is a no brainer.

IIRC, from when I used to get those offers in the mail you have to be absolutely sure you are not late on a payment even 1 day. There is no grace period. If your late sometimes the readjust the interest then asses you the adjusted interest rate in arrears for the payments you've already made at a ridiculously high percent, something like 18 to 22%.

That kind of thing makes me a little nervous because then you're depending on the post office to deliver in time and the banks honesty if they received your payment in time. If it were me, I would feel much better setting up an ACH transfer if the bank will allow it. They may not, their whole goal with these deals is to find the people who are going to be late or miss a payment so they can hit them with the high fees.

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If I'm understanding you correctly, you're basically borrowing $5,000 for 1.5% for a term of 12 months. Yes, that is a no brainer.

IIRC, from when I used to get those offers in the mail you have to be absolutely sure you are not late on a payment even 1 day. There is no grace period. If your late sometimes the readjust the interest then asses you the adjusted interest rate in arrears for the payments you've already made at a ridiculously high percent, something like 18 to 22%.

That kind of thing makes me a little nervous because then you're depending on the post office to deliver in time and the banks honesty if they received your payment in time. If it were me, I would feel much better setting up an ACH transfer if the bank will allow it. They may not, their whole goal with these deals is to find the people who are going to be late or miss a payment so they can hit them with the high fees.

Thanks. Yeah I pay all my bills online through my bank so when they get it is not an issue..the bank guarantees delivery by the date you enter...even if that biller is not online with them and they have to send a check. I have maybe 2-3 bills that checks needs to be sent for and the other 50 or so bills I pay a month are all online.

I feel like I have to talk this out with people who know finance a little better than me so thanks for the input. It is basically a car payment a month for a year to make sure it is paid off in time before all that interest kicks in. I have been doing this with other CC's paying off other debt that has interest for a few years now and you have to be diligent to make sure you are paying the right amount every month and that is is paid off before the promotional period ends.

The thing is with this particular circumstance we are basically just paying ourselves back. All that money is going back to the loan which goes back into her 401-k which is being transferred to an IRA. Better than losing the 8k in principal from the 401-k AND having to pay 2500.00 at the end of the year for taxes.

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I think the biggest question is whether you can afford the $416/month payment to the credit card in order to pay the balance off within the 12 month promotional period.

The second question is whether you can afford to make up the $3k difference between the $8k 401k loan and the $5k credit card advance.

If both of these are not a problem, then it's probably okay to go this route. But I wouldn't do it if you planned on making a smaller payment, and rolling over the balance again at the end of the promotional period.

Also, you could consider paying the $3k in cash you have back to the 401k, and taking a smaller $5k distribution instead of the full $8k. It's less in taxes and penalties, but also means you don't have to deal with the credit card.

Or, if you have the $8k in your emergency fund, you could use those funds to repay the 401k loan. Then rebuild your emergency fund aggressively, similar to paying the monthly $416 to the CC you are considering. And then if you have an emergency before you fully restored your emergency funds, you could always take the distribution from your retirement account if that happened.

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I think the biggest question is whether you can afford the $416/month payment to the credit card in order to pay the balance off within the 12 month promotional period.

The second question is whether you can afford to make up the $3k difference between the $8k 401k loan and the $5k credit card advance.

If both of these are not a problem, then it's probably okay to go this route. But I wouldn't do it if you planned on making a smaller payment, and rolling over the balance again at the end of the promotional period.

Also, you could consider paying the $3k in cash you have back to the 401k, and taking a smaller $5k distribution instead of the full $8k. It's less in taxes and penalties, but also means you don't have to deal with the credit card.

Or, if you have the $8k in your emergency fund, you could use those funds to repay the 401k loan. Then rebuild your emergency fund aggressively, similar to paying the monthly $416 to the CC you are considering. And then if you have an emergency before you fully restored your emergency funds, you could always take the distribution from your retirement account if that happened.

We can afford the payment and can afford the extra 2500.00 as a one time payment. Problem with the loan is it has to be completely paid off. They will not accept half the payment or any percentage. It has to be the whole thing and there is no way to keep paying bi weekly like we were until it is paid off. It is the whole thing now or nothing.

I like the idea of spreading it out for a year and paying the fee for the convenience of spreading it out. Dumping 8k into it right now is not something I am ready to do.

Thanks for helping out.

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Exploding heads alert; these links not for everyone.

I'm posting this first one just because I found it funny (the writing):

700 Days In No Man’s Land——Why They Can’t Keep It Up - Stockman's

Sample:

That baleful refrain was led this time around by no less than the posse of oligarchs and apparatchiks assembled at Davos. Thus, when Mario Draghi, the world’s most ludicrous monetary dunce, let on that there were “no limits” on how much fraudulent credit could be emitted by the ECB’s printing press, he surely spoke a frightening truism.

Yet the world largest asset gather, Larry Fink, founder of $4.5 trillion BlackRock, gushed with an endorsement of what was pure monetary crack pottery:

“We’ve seen over the last few years you have to trust in Mario,” Laurence Fink, chief executive officer of BlackRock Inc., said in Davos. “The market should never, as we have seen now, the market should not doubt Mario.”

E-book of 130 pages:

What has the Government Done to My Money - Murry Rothbard

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McDonald's sales soar thanks to all day breakfast - Jan. 25, 2016

Interesting since I heard it wasn't going well. Not bad, but not increasing sales the way people predicted.

Then I see this in the article.

This was the second consecutive quarter of domestic same-store sales growth for the fast food giant. But McDonald's isn't just staging an impressive comeback in its home market. Same-store sales rose 5% worldwide.

Second quarter in a row for same-store sales growth, but they are saying this is because of all day breakfast? They started all day breakfast in October, which wouldn't account for the previous quarter jump in sales.

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The Boss was thrilled when they did that breakfast thing all day. I can't figure out which line to get in or how they don't **** up my order so I don't go. :-)

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Enemy of The State is on AMC right now. Good movie and I know Screwball likes it.

They are showing it again tomorrow (Tuesday) at 5PM if you missed it tonight.

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Enemy of The State is on AMC right now. Good movie and I know Screwball likes it.

They are showing it again tomorrow (Tuesday) at 5PM if you missed it tonight.

Thanks, watched part of it. Still remember after something happened AMZN pulled it so you couldn't watch. Swine pricks. :-)

Why would anyone trust spooks? Makes you want to be a spook. Ya gotta out spook the spooks.

I know, I'm Mel Gibson in conspiracy theory. :-)

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I confess, who's the dude on the shirt?

Murray Rothbard

I have that shirt. I get a lot of strange looks when I wear it from people trying to figure out whose picture is on the shirt. My daughter calls me a dork when I wear it and my wife makes me change shirts before we go out.

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