| My home as an investment? |
|
|
|
|
|
mewalsh100
New Member
Cash: $ 1.90
Posts: 9
Joined: 03 Aug 2006
Location: Ohio
|
| renter |
 |
|
Last time I checked, I was still a man  Although I'm sure my ex would like to remedy that ala Lorena Bobbitt! Anyway, I'm definitely going to do the renter thing. I figure if I could get 2 renters, they'd be making the mortgage for me! I have scaled back the 401K, but not all the way to only the employer match. Worth considering. What would be the advantage of putting the rest in the IRA as opposed to just leaving it over and above the employer match in the 401? Taxes?
mewalsh100
|
Thu Aug 10, 2006 3:24 pm |
|
|
coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
|
I suppose it depends on the choices in your 401(k) -- if there's something you want to invest in that your company plan doesn't offer. You may be limited in how much you can contribute to an IRA, though. Check out this page from the IRS website:
http://www.irs.gov/publications/p590/ch01.html#d0e1397
~Tim~
Eye Candy : Why Whimsy
|
|
Thu Aug 10, 2006 4:29 pm |
|
|
bong12187
Preferred Member
Cash: $ 24.50
Posts: 120
Joined: 31 Jul 2005
|
I like the idea of you renting out the other two rooms to offset the mortgage payment. I also agree with others assessment that the house is a little big for you alone but with you looking at the future about the possibility of getting married again and raising a family, you are better off keeping the house.
Have you looked at the tax options that you might have? Are you getting any refunds now or plan on getting them next year? If you do, this might be your other option to supplement your 401k by changing your W4. Additionally, the more you put in to your 401k, the more you put in, the less money Uncle Sam will take from you.
Goodluck... B
|
|
Sun Aug 20, 2006 8:18 pm |
|
|
KEVIN23ac
First Time Poster
Cash: $ 0.20
Posts: 1
Joined: 22 Aug 2006
|
| keep it |
|
|
i suggest you keep the house and do as Kiaser said. rent out some of the rooms. this way, you'll have help in paying out the mortgage. 
http://www.wannanetwork.com
|
|
Tue Aug 22, 2006 7:06 pm |
|
|
foxi$
Contributing Member
Cash: $ 5.15
Posts: 25
Joined: 22 Aug 2006
|
| keep it |
|
|
Keep it if u can afford it , rent it out ,have fun do what make u happy!! Give yaself lot of laughter be open to possibilities if ya in a good postion you know you can handle the payments, enjoy the ride see you at the top!!!!
|
|
Tue Aug 22, 2006 8:08 pm |
|
|
|
