tag:blogger.com,1999:blog-8370603891095573911.post3888877024910946067..comments2023-10-07T11:34:32.532-04:00Comments on AMELIA'S HEALTHY LIFE: Snapshot of Financial HealthHEALTHY AMELIAhttp://www.blogger.com/profile/16873651025465368628noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8370603891095573911.post-19556910068021657872009-05-13T10:29:00.000-04:002009-05-13T10:29:00.000-04:00Thanks, J! I love this stuff.Thanks, J! I love this stuff.HEALTHY AMELIAhttps://www.blogger.com/profile/16873651025465368628noreply@blogger.comtag:blogger.com,1999:blog-8370603891095573911.post-31742067574075815902009-05-13T10:12:00.000-04:002009-05-13T10:12:00.000-04:00Glad you had fun with it too! It's a pretty fun g...Glad you had fun with it too! It's a pretty fun game :)J. Moneyhttp://www.budgetsaresexy.comnoreply@blogger.comtag:blogger.com,1999:blog-8370603891095573911.post-13954415478776709502009-05-11T14:16:00.000-04:002009-05-11T14:16:00.000-04:00Yes, I do believe that’s true but doing that would...Yes, I do believe that’s true but doing that would defeat the beauty of compound interest working for retirement! I’m not currently saving “a lot” but I’m at least going for the employer match. If I leave it alone, it will grow tremendously over the next 35 years. I could also borrow against the money in my 401k but that’s risky. If I lost my job, I’d have to pay it all back right away. I have no such worries but you never know. <br /><br />The great thing about the NACA program (www.naca.com) is that they pay all closing costs and you don’t need any down payment. If you have one, it goes toward buying down your interest rate (which is already below market rate). Also, while going through the process they make you save the difference between your current rent and future mortgage to prevent payment shock. That money could be used to buy down the rate but I’d rater keep it as a cushion.HEALTHY AMELIAhttps://www.blogger.com/profile/16873651025465368628noreply@blogger.comtag:blogger.com,1999:blog-8370603891095573911.post-84393783183038275182009-05-11T14:02:00.000-04:002009-05-11T14:02:00.000-04:00I think IRA and maybe [I don't know? if 401(k)] ca...I think IRA and maybe [I don't know? if 401(k)] can be used for downpayment for first time homebuyers on a home without having to pay the 10% penalty for early withdrawal.[payment of regular tax may have to be paid, tho)Charnoreply@blogger.com