Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next
Author: mheusser One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 16  
Subject: Re: Trade IRA for a new roof? Date: 11/10/2008 1:43 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
*bump* - So what did you do?

The big problem I would see is that by pulling out now, you pull out at the bottom of the market. That's realizing a lot of paper losses.

I expect that in 6 months, the markets will have regained a good bit of health. Not all, but a good bit.

Another way to look at it is this: If you have revolving credit card debt, you are taking on an automatic 20%-ish LOSS every year. So paying off credit card debt makes sense if your after-tax loss on the money is greater than your expect pre-tax gain. (Is it a Roth? Otherwise, you'll pay a penalty on the way out.)

If you have friends who are handy, you might want to consider buying your own shingles/OSB and throwing party. Then you'd be able to pay off credit cards, get a roof, and keep a couple bucks in the IRA.

Again, I'm curious. It's been a month - what did you do?

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev | Next


Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.