Comments on: Where To Put Your Money Right Now http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/ the mark cuban weblog Sat, 20 Mar 2010 17:24:11 +0000 http://wordpress.com/ hourly 1 By: Steps To Stop Recession For Governments, Companies & Individuals http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-64221 Steps To Stop Recession For Governments, Companies & Individuals Mon, 27 Apr 2009 15:40:14 +0000 http://blogmaverick.wordpress.com/?p=817#comment-64221 [...] low income.  The faster you get out of debt, the better off you’ll be. If you’ve got credit card debt, pay it down first, as the interest rates are high for credit cards and a debit card is always better than a credit [...] [...] low income.  The faster you get out of debt, the better off you’ll be. If you’ve got credit card debt, pay it down first, as the interest rates are high for credit cards and a debit card is always better than a credit [...]

]]> By: Prince of Thrift http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-63629 Prince of Thrift Thu, 09 Apr 2009 10:59:51 +0000 http://blogmaverick.wordpress.com/?p=817#comment-63629 Herschel — who's John Ramsey? I think you mean Dave Ramsey. John was the father the little girl killed several years ago in Colorado. Dave is the financial expert from Tennessee. Herschel — who’s John Ramsey? I think you mean Dave Ramsey. John was the father the little girl killed several years ago in Colorado. Dave is the financial expert from Tennessee.

]]> By: The Investor Rebellion » This is the best Mark Cuban blog post yet‏ http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-62784 The Investor Rebellion » This is the best Mark Cuban blog post yet‏ Fri, 27 Mar 2009 01:01:53 +0000 http://blogmaverick.wordpress.com/?p=817#comment-62784 [...] Today’s blog post by Mark Cuban is my favorite that I have read yet by him.  I just love this guy.  Can he run for President?  He needs to get on every single financial news show/talk show in America IMMEDIATELY.  Put him on live national TV and have him debate all of the “financial planners” and “finance experts” on live national TV.  Americans so desperately need to hear this advice, and they would certainly listen to Mark Cuban, a self-made billionaire.  He is so 110% right.  AMEN!!!!!   http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/ [...] [...] Today’s blog post by Mark Cuban is my favorite that I have read yet by him.  I just love this guy.  Can he run for President?  He needs to get on every single financial news show/talk show in America IMMEDIATELY.  Put him on live national TV and have him debate all of the “financial planners” and “finance experts” on live national TV.  Americans so desperately need to hear this advice, and they would certainly listen to Mark Cuban, a self-made billionaire.  He is so 110% right.  AMEN!!!!!   http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/ [...]

]]> By: Rapier http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-61845 Rapier Wed, 11 Mar 2009 21:18:16 +0000 http://blogmaverick.wordpress.com/?p=817#comment-61845 Be interested to see how he explains this? http://articles.moneycentral.msn.com/Banking/YourCreditRating/WhenPayingBillsCanHurtYourCredit.aspx Be interested to see how he explains this?

http://articles.moneycentral.msn.com/Banking/YourCreditRating/WhenPayingBillsCanHurtYourCredit.aspx

]]> By: The First Investment a Beginner Should Make | Beginner Investing http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-60669 The First Investment a Beginner Should Make | Beginner Investing Mon, 23 Feb 2009 04:52:25 +0000 http://blogmaverick.wordpress.com/?p=817#comment-60669 [...] It’s that simple. If you don’t believe me, you’ll be reassured to know that this advice came directly from billionaire investor and entrepreneur Mark Cuban. [...] [...] It’s that simple. If you don’t believe me, you’ll be reassured to know that this advice came directly from billionaire investor and entrepreneur Mark Cuban. [...]

]]> By: Randy http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-60208 Randy Wed, 18 Feb 2009 10:43:22 +0000 http://blogmaverick.wordpress.com/?p=817#comment-60208 Thank you for your timely advise. We all need to take responsibility for managing our personal finances. You can't simply invest and forget! That's financial suicide. Drastically reducing credit card debt, should be the major priority. As you do so, you will start to feel that you are getting more control of your finances. There is light at the end of the tunnel. Thank you for your timely advise. We all need to take responsibility for managing our personal finances. You can’t simply invest and forget! That’s financial suicide. Drastically reducing credit card debt, should be the major priority. As you do so, you will start to feel that you are getting more control of your finances. There is light at the end of the tunnel.

]]> By: Ryan http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-60150 Ryan Wed, 18 Feb 2009 03:38:46 +0000 http://blogmaverick.wordpress.com/?p=817#comment-60150 I watched the Dave Ramsey show last night and a lady called in who has close to $700,000 in debt. My god! I thought I was bad a few years ago with student loans of around $50,000. Which are paid off thanks to some good people who have helped me get on a path towards success and investing in safe, conservative plans. Such as money market savings, having an emergency fund, having a budget. Slowly but surely my wealth in all areas of my life are building. Lastly we can only hope that the stimulus money gets to people who know how to invest and save not some dope who wants to smoke another one. It will create more opportunties for someone to help these people get on a plan to success. Save! It is so much fun to watch the money grow and still be able to give at the same time! Enough from me. I watched the Dave Ramsey show last night and a lady called in who has close to $700,000 in debt. My god! I thought I was bad a few years ago with student loans of around $50,000. Which are paid off thanks to some good people who have helped me get on a path towards success and investing in safe, conservative plans. Such as money market savings, having an emergency fund, having a budget. Slowly but surely my wealth in all areas of my life are building. Lastly we can only hope that the stimulus money gets to people who know how to invest and save not some dope who wants to smoke another one. It will create more opportunties for someone to help these people get on a plan to success. Save! It is so much fun to watch the money grow and still be able to give at the same time! Enough from me.

]]> By: Do you think bums are poor? They’re actually richer than you! http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-55713 Do you think bums are poor? They’re actually richer than you! Mon, 15 Dec 2008 03:38:41 +0000 http://blogmaverick.wordpress.com/?p=817#comment-55713 [...] Pay off your debt – list out every penny you owe and the interest rate next to it. The chances are you are paying more interest on things like your credit card than what you are earning from the bank. So instead of making the minimum payment on your credit cards each month, try to pay them off. [...] [...] Pay off your debt – list out every penny you owe and the interest rate next to it. The chances are you are paying more interest on things like your credit card than what you are earning from the bank. So instead of making the minimum payment on your credit cards each month, try to pay them off. [...]

]]> By: linda2277 http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-55630 linda2277 Tue, 09 Dec 2008 20:22:04 +0000 http://blogmaverick.wordpress.com/?p=817#comment-55630 The money that is in your 401K was not taxed BEFORE it went in the 401K and when you borrow it on a loan it is still not taxed. When you pay it back you must used taxed dollars but that is on the new income that you made not the original that was put into the 401K tax free... you are not taxed twice on loans from a 401K... you are only taxed when you remove the money at retirement or if you "withdraw' the money. The money that is in your 401K was not taxed BEFORE it went in the 401K and when you borrow it on a loan it is still not taxed. When you pay it back you must used taxed dollars but that is on the new income that you made not the original that was put into the 401K tax free… you are not taxed twice on loans from a 401K… you are only taxed when you remove the money at retirement or if you “withdraw’ the money.

]]> By: Carey http://blogmaverick.com/2008/10/15/where-to-put-your-money-right-now/#comment-54938 Carey Thu, 20 Nov 2008 04:58:19 +0000 http://blogmaverick.wordpress.com/?p=817#comment-54938 I think you mean well, but there were at least 2 posts earlier than I think people really need to consider. If you borrow from your 401K and then lose your job or switch jobs, you have to pay it back in full within 90 days. Otherwise, you'll owe a 10% fee plus you'll be taxed on that loan as income. For example, that can change that $30k loan to $3k in fees and up to another $7k in income ttaxes depending on your tax bracket. That's another $10k that someone has to come up with...within the year. And if you're borrowing from your 401K to pay off other loans...where is that $10k going to come from? And the other point someone made that I thought was good was that money borrowed from your 401k is taxed twice. Once on the money you are using to pay it off, and once again when you eventually take it out (if you were able to pay it off). Having said all that, I'm still one of those people who does have a 401K loan. I pulled $30k out 2 years ago when I needed to pay off some credit card debt at 25% interest. So...it was the right thing to do...but my job is pretty secure. So, it can work and it can work well. Just be careful and evaluate the rate of the loans you're paying off vs. the risk of loosing your job and being forced to come up with even more cash in fees and taxes. I think you mean well, but there were at least 2 posts earlier than I think people really need to consider. If you borrow from your 401K and then lose your job or switch jobs, you have to pay it back in full within 90 days. Otherwise, you’ll owe a 10% fee plus you’ll be taxed on that loan as income. For example, that can change that $30k loan to $3k in fees and up to another $7k in income ttaxes depending on your tax bracket. That’s another $10k that someone has to come up with…within the year. And if you’re borrowing from your 401K to pay off other loans…where is that $10k going to come from?

And the other point someone made that I thought was good was that money borrowed from your 401k is taxed twice. Once on the money you are using to pay it off, and once again when you eventually take it out (if you were able to pay it off).

Having said all that, I’m still one of those people who does have a 401K loan. I pulled $30k out 2 years ago when I needed to pay off some credit card debt at 25% interest. So…it was the right thing to do…but my job is pretty secure. So, it can work and it can work well. Just be careful and evaluate the rate of the loans you’re paying off vs. the risk of loosing your job and being forced to come up with even more cash in fees and taxes.

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