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Author: HELJinCT One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75402  
Subject: Re: Fledgeling Retirement Investor Date: 11/15/2004 1:46 PM
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Wow, did not realize some of the info I mentioned (or failed to mention) would come out the way that it did! :)

- I am married, with two children. I am the only source of income as my wife is a home maker. We do quite well at tax time given the children, one income, mortgage interest & student loan interest.

- I own two vehicles. One is completely paid for (mine) and worth about 3K. It's an older Toyota SUV. The wife has a 2002 Forester that was bought brand new (Mistake #12344523, but hey, I live and learn) and still has about $12K left on the loan. The value of the vehicle is about 12K as well. We're just about on year 3 (of 5) on the loan, and the rate is 3.9% fixed.

- No credit card debt. I went from having about 45K in credit card debt a few years ago to none at all as of a few months ago. It was a long, hard-fought few years. I use the cards from time to time to make certain purchases, but pay back before interest accrues, etc.

- I am in software development for a living. I'm at the senior architect level these days, and management is probably around the corner for me in a few more years. I work in the financial sector.

- Right now the 10k is my emergency fund. It's sitting in a money market savings account. I also am owed a few thousand by a family member that needed help with a down payment for a first home (which he is good on), due and end of year bonus and should be getting between 5k and 7k back in a tax refund this spring.

- I have a home equity line of about 15k available.

- The student loan rates are very very low, I think 4.5% or something (plus tax deduction on loan interest)

- My company DOES NOT offer a match on the 401k. They instead contribute 15% of your gross annual income into the "employee fund", which has solid returns. I wont see any of this until January 2006, and even then, only 20% is vested per year.

- I can change my 401k distribution anytime, but I have to elect how much of my paycheck I want to put into 401k within the next month or so.

Thanks!
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