Comments on: Meet RealEstateKid: $37,864.94 in (unsecured) debt http://www.debtkid.com/meet-realestatekid-37864-94-in-unsecured-debt Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: RealEstateKid http://www.debtkid.com/meet-realestatekid-37864-94-in-unsecured-debt/comment-page-1#comment-19702 RealEstateKid Mon, 06 Jul 2009 23:23:33 +0000 http://www.debtkid.com/?p=3840#comment-19702 Hi retireby35... I like to include the 401k loan because it is an obligation that needs to be repaid (although it is to myself). While I'm repaying it I lose $49.95 from my take-home pay each week and I'm losing possible gains on the investments while repaying it over the next 4 years or so. I'm also not 100% sure if I'll be paying down the credit card just yet. I have a few decisions to make in the next couple of weeks which I'll be talking about soon. Basically, I'm contemplating paying back the 401k loan in case of a layoff. If that was to happen I would owe the balance within 60 days or have to suffer the penalties of the IRS :) My next post will show my assets and explain the "good" things I've done. Hi retireby35… I like to include the 401k loan because it is an obligation that needs to be repaid (although it is to myself). While I’m repaying it I lose $49.95 from my take-home pay each week and I’m losing possible gains on the investments while repaying it over the next 4 years or so.

I’m also not 100% sure if I’ll be paying down the credit card just yet. I have a few decisions to make in the next couple of weeks which I’ll be talking about soon. Basically, I’m contemplating paying back the 401k loan in case of a layoff. If that was to happen I would owe the balance within 60 days or have to suffer the penalties of the IRS :)

My next post will show my assets and explain the “good” things I’ve done.

]]> By: retireby35 http://www.debtkid.com/meet-realestatekid-37864-94-in-unsecured-debt/comment-page-1#comment-19699 retireby35 Mon, 06 Jul 2009 22:51:08 +0000 http://www.debtkid.com/?p=3840#comment-19699 Based on your calculations you really only owe 2,937.26 on your second credit card since you will be paying 9,500 of it off with the proceeds from your 401k loan. Then your total is actually 28,364.94, much more manageable. Just wondering, how much in savings do you have and do you have any car loans? Based on your calculations you really only owe 2,937.26 on your second credit card since you will be paying 9,500 of it off with the proceeds from your 401k loan. Then your total is actually 28,364.94, much more manageable.

Just wondering, how much in savings do you have and do you have any car loans?

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