How much is enough??

[exfishnz]

Originally Posted by GMac

Wow, I thought we were being shafted by the banks here. Nice to know the Aussie banks are shafting their own a lot more than they do us over here on the mainland.

You're not wrong mate. I reckon in less than 6 months we'll go across 10%. The prob is the world credit market is drying up & also the high inflation figures from the resource states of WA & QLD (as discussed previously by seafox & I in another thread).

Not wanting to talk polly stuff, just making an observation. Unknown to most locals, the current leftie federal party has a national majority of 1.5%. Every federal race has an average swing of 2%, she's gonna be a very tight race in 2 years

[GMac]

401K, What is that? I've heard of it before, a savings thing of some sort?

Is that like our Kiwisaver thing Seafox?
I'm crediting Seafox with a lot more clues than myself on this one. No idea why though, maybe just because he writes smart

[exfishnz]

Originally Posted by GMac

401K, What is that? I've heard of it before, a savings thing of some sort?

I think its a US type superannuation thing?

Edit: 401(k) - Wikipedia, the free encyclopedia

[David_Old_Jersey]

Originally Posted by Inthewind

I don't finance anything anymore. When you owe money in my opinion, your a slave. If you owe a very significant amout of money on anything, than that takes all the fun away. Buy what you can afford even if it's a smaller yacht and upgrade later if that's what you want. Being in debt SUCKS.

With you on that one. Many years ago was up to my eyeballs in Credit cards and loans etc. Twice But been a longggggggg time debt free. Not always been flush with money since - but really not a worry when yer have no debts to service / juggle (nor "magically" increasing from penalties and interest).

Not all my toys are as nice as they could be. but all mine

Now I have a choice about giving the Bank 10/15% (or more!) of the value of my toys each year. So far I have resisted the temptation

[cooper]

. Unknown to most locals, the current leftie federal party has a national majority of 1.5%. Every federal race has an average swing of 2%, she's gonna be a very tight race in 2 years

....so how come they won ?

[exfishnz]

Originally Posted by cooper

....so how come they won ?

Thats getting into a discussion of politics of which the mods will shut down the thread. I stand by my post

[cooper]

getting into a discussion of politics

you already did, which is my point......

[exfishnz]

I felt it was relevant to mortgage interest rates (along with the price of oil & inflation).

Originally Posted by cooper

you already did, which is my point......

Really??? I didn't think you made a point? I wonder if you're fishing, esp since I'm on the "wrong side of the angels"

[cooper]

A long bow....interests rates versus political parties...hhmm

regardless of the political persuasion......

Unknown to most locals,

.....is not polite, it is a blanket statement that will make people like me respond.....and get the thread shut down.

[exfishnz]

Originally Posted by cooper

A long bow....interests rates versus political parties...hhmm

regardless of the political persuasion...........is not polite, it is a blanket statement that will make people like me respond.....and get the thread shut down.

Cooper, there's no "political persuasion", there's also no "blanket statement" & it has nothing to do with "polite".

As for your interpretation (how incorrect they may be) & response to my posts, well, that's your choice.

[GordMay]

Originally Posted by exfishnz

Thats getting into a discussion of politics of which the mods will shut down the thread...

Very perceptive.

[Whimsical]

Originally Posted by GordMay

Very perceptive.

As subtle as a sledge hammer

Mike

[exfishnz]

Originally Posted by Whimsical

As subtle as a sledge hammer

Mike

Is that why I woke up with a sore head this morning, Gord's been whacking around a "sledge hammer"

[seafox]

Originally Posted by GMac

401K, What is that? I've heard of it before, a savings thing of some sort?

Is that like our Kiwisaver thing Seafox?
I'm crediting Seafox with a lot more clues than myself on this one. No idea why though, maybe just because he writes smart

It's just the spell checker Gmac, and even that doesn't always work!

Not like our Kiwisaver. In the USA an employee can elect to have part of his income put into his 401K. Once in the fund from what I understand any income returns on it are tax free. That is until the funds are withdrawn.

Our kiwisaver is has no tax benefits. Employers have to match it $1 for $1 up to the limits and Aunty Helen also throws in $1000 to kick start it and $1040pa plus $40 for fees.

I would rather we had the American 401k's. People would be responsible for their own savings rather than picking a kiwisaver provider and relying on their employer and the govt to top it and the provider to run it. Our kiwisaver is a typical welfare mentality based scheme. Saying that, I put my $1040 in each year so I can get the Govts $1040. Our taxes are paying for that so may as well be in. I don't have an employer to top it up for me

[Therapy]

Originally Posted by seafox

. Employers have to match it $1 for $1
I don't have an employer to top it up for me

Get a job!