Yes, I do... :banghead:
Can't wait to move to Cayman Islands...
Dave Ramsey, debt, credit cards, retirement, etc
- Thread starter SuperJETT
- Start date
Can't wait to move to Cayman Islands...
Yeah, me too
Only problem is $1 us is only .80 cents CI
Just drink a lot of rum punchs and live tax free
No income tax, no property tax, no sales or use tax... they speak English... no crime.. average temps throughout the year is 84.5... decent port... amazing sea life... short flight to Miami (less than my daily commute to work in NJ time wise)... :sneaky::biggthumpup:
Yeah John, you know what I'm talking about! :woot:
I'll take that $.20 hit! :biggthumpup:
SeaLion
Jet Ski Junkie
I need to investigate. Sounds like paradise!
EDIT: An import duty of 20% is levied against goods imported into the islands. Darn it. Still sounds pretty good though.
Last edited:
Gainera2582
Power and Agility
- Location
- Lake Saint Clair, Michigan
Right now Im still living at home, but am investing the money i have after bills, food, micellaneous into my money market and the stock market. I get about 5.5 percent in my money market and have managed to make a decent amount in the stock market with little invested.
Some guidlines that keep me out of debt:
1. Charging my gas and purchases as if I were paying cash for it with a reasonable limit set per month on the card.
2. Shop at the grocery store and eat at home, its much cheaper than going out to a restaurant and no tip to pay a server.
3. Don't shop for name brand clothes. Nothing more than overpriced clothing with a cool logo on it. Old navy is fine or generic stores like kohls that run specials. I still have good clothes from 3-4 years ago that look brand new and I still wear them. And only buy clothes THAT YOU NEED, not necessarily want.
4. Driving wise, I started limiting my trips to the store and places I go and sometimes will walk instead of driving(especially with the cost of gas these days)
5. Going along with #4, driving an economical car if right for you will save you a ton of money in gas. My civic 5spd gets over 30mpg towing the superjet, and usually 34-35 average if I baby it while driving.
6. Don't impulse buy. I can honestly say this is why people go in debt because they have to get the latest and greatest thing. Keep your budget in mind when always purchasing anything.
I know I could think of more, but these are easy suggestions and anyone can follow them and can save some extra money by just doing one of the above.
Some guidlines that keep me out of debt:
1. Charging my gas and purchases as if I were paying cash for it with a reasonable limit set per month on the card.
2. Shop at the grocery store and eat at home, its much cheaper than going out to a restaurant and no tip to pay a server.
3. Don't shop for name brand clothes. Nothing more than overpriced clothing with a cool logo on it. Old navy is fine or generic stores like kohls that run specials. I still have good clothes from 3-4 years ago that look brand new and I still wear them. And only buy clothes THAT YOU NEED, not necessarily want.
4. Driving wise, I started limiting my trips to the store and places I go and sometimes will walk instead of driving(especially with the cost of gas these days)
5. Going along with #4, driving an economical car if right for you will save you a ton of money in gas. My civic 5spd gets over 30mpg towing the superjet, and usually 34-35 average if I baby it while driving.
6. Don't impulse buy. I can honestly say this is why people go in debt because they have to get the latest and greatest thing. Keep your budget in mind when always purchasing anything.
I know I could think of more, but these are easy suggestions and anyone can follow them and can save some extra money by just doing one of the above.
On the impulse stuff, just try to ask yourself, how will this purchase look 5 years from now? Like having the latest cell phone, you won't even have it 5 years from now.
Rickster
Matakana Menace
- Location
- Bay of Plenty, NZ
And they pay duty on everything they touch, which can be as high as 50% (Most goods are 27.5% dutiable):banghead:
The Penguin
triple secret probation
- Location
- down by the river
27.5% is less than I pay in income, sales & property taxes. :biggrin:
plus the view is much better
plus the view is much better
And at the same time for some reason most of the goods cost about about the same or CHEAPER than in the US.
Real estate was slightly cheaper then in Central Jersey too last time I checked...
Paradox?
oxnard111
Creative RE Purchasing
- Location
- so Cali, Ventura/Oxnard area
I'm 24, just starting my retirement. I just got done paying off a credit card that I racked up in college. Now I just have a truck payment and school loan... well that is until I get married next year and inherit her debt also. She just has a car payment and a school loan also, but her loan is like 3x the amount of mine. Going into marriage we'll be about $105-110K in debt collectively. And we live in California... geesh.
Before you get married, make sure you talk about money and debt, like how/if you want to pay it off, whether you'll always have car payments, etc. Money issues are THE #1 CAUSE of divorce and the sooner you get on the same page, the better.
Just a cool call to Dave Ramsey the other day:
A 24 year old single guy called, said his Dad passed away a month ago and left him money.
He is an over the road truck driver, makes around $40,000/year, and his Dad lived in a mobile home in Arizona.
He left him ~$5,000,000 He had no clue his Dad had that kind of money.
Dave recommended he interview people to be his CPA, real estate broker, investment broker, etc etc.
A 24 year old single guy called, said his Dad passed away a month ago and left him money.
He is an over the road truck driver, makes around $40,000/year, and his Dad lived in a mobile home in Arizona.
He left him ~$5,000,000 He had no clue his Dad had that kind of money.
Dave recommended he interview people to be his CPA, real estate broker, investment broker, etc etc.
douglee25
m3booooy
- Location
- South Jersey
Ha. That's the kind of news I'm sure everyone wouldn't mind getting some day. I guess his dad appreciated life more than any material items. Good story.
Doug
douglee25
m3booooy
- Location
- South Jersey
:bigeyes::bigeyes:
Not too shabby! I was at about 10% for 3 years on 401k, and I'm at about 20 - 25% return on my IRA in 1.5 years.
Doug
We convinced my mother-inlaw to let me look at her 403b and then convinced her to let me make some changes for her.
She's 60, wants to retire like NOW, but there is no way. She has around $130K in the 403b, a small vested amount in the 'pension', like under $15K, and had most of her money in bonds/guaranteed return funds and was averaging maybe 6%.
I moved her money around into a better balance for a 5 year time period to hopefully earn her 12-15% while she puts in 10K/year.
If she can wait until 65 to retire, she'll be in much better shape with close to $300K in there. Leaving that in at 12%, withdrawing 8%/year would give her $24,000/year plus social security of around $10,000/year to put her close to what she's making now.
This situation totally reinforces getting started early on retirement.
She's 60, wants to retire like NOW, but there is no way. She has around $130K in the 403b, a small vested amount in the 'pension', like under $15K, and had most of her money in bonds/guaranteed return funds and was averaging maybe 6%.
I moved her money around into a better balance for a 5 year time period to hopefully earn her 12-15% while she puts in 10K/year.
If she can wait until 65 to retire, she'll be in much better shape with close to $300K in there. Leaving that in at 12%, withdrawing 8%/year would give her $24,000/year plus social security of around $10,000/year to put her close to what she's making now.
This situation totally reinforces getting started early on retirement.
douglee25
m3booooy
- Location
- South Jersey
Good point.
Doug
Doug
onesojourner
I use a thumb throttle.
- Location
- springfield, mo
thats pretty impressive to double that money in 5 years.