Comments on: Build an Emergency Fund, Pay Off Debt, or Save for Retirement? Three Competing Goals That All Need Your Attention Today http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/?utm_source=rss&utm_medium=rss&utm_campaign=build-an-emergency-fund-pay-off-debt-or-save-for-retirement Helping a unique generation achieve financial independence. Sat, 31 Jul 2010 03:29:55 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Jeremy http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-134902 Jeremy Sat, 05 Jun 2010 23:00:53 +0000 http://genxfinance.com/?p=1467#comment-134902 Thank you for the comment, DR. I love hearing stories from readers who have gone on to improve their finances. Keep it up! Thank you for the comment, DR. I love hearing stories from readers who have gone on to improve their finances. Keep it up!

]]> By: DR http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-134884 DR Sat, 05 Jun 2010 13:33:42 +0000 http://genxfinance.com/?p=1467#comment-134884 I whole-heartedly agree with the strategies Jeremy shared in this article. Before reading this article, I paid the majority of my cc debt down within a year. All my efforts went towards paying down credit cards. Needless to say, I had little to nothing in savings, and when I needed things like gas and food, I would put it back on credit cards! In hindsight, I didn't have peace of mind with putting all my resources towards paying credit card debt because I was cash poor! For the last few months, I've been doing what Jeremy and SUZE ORMAN suggested...diversifying my attack. My retirement savings comes out of my paycheck automatically, then I've been putting the majority of my money towards building an emergency fund, and then I pay extra towards accelerating the payment of a credit card and when that card is paid off, I will roll those payments into the next one. Diversifying my money just makes the most sense for my situation because it provides me with peace of mind. Thanks for the tips and insight, Jeremey! I whole-heartedly agree with the strategies Jeremy shared in this article. Before reading this article, I paid the majority of my cc debt down within a year. All my efforts went towards paying down credit cards. Needless to say, I had little to nothing in savings, and when I needed things like gas and food, I would put it back on credit cards! In hindsight, I didn’t have peace of mind with putting all my resources towards paying credit card debt because I was cash poor! For the last few months, I’ve been doing what Jeremy and SUZE ORMAN suggested…diversifying my attack. My retirement savings comes out of my paycheck automatically, then I’ve been putting the majority of my money towards building an emergency fund, and then I pay extra towards accelerating the payment of a credit card and when that card is paid off, I will roll those payments into the next one. Diversifying my money just makes the most sense for my situation because it provides me with peace of mind. Thanks for the tips and insight, Jeremey!

]]> By: The 401k Loan: How to Borrow Money From Your Retirement Plan and What You Need to Know http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-126940 The 401k Loan: How to Borrow Money From Your Retirement Plan and What You Need to Know Tue, 16 Feb 2010 16:44:23 +0000 http://genxfinance.com/?p=1467#comment-126940 [...] an ideal world we’d leave our retirement plans alone and rely on our emergency fund in a time of need. But let’s face it, life happens. As much as we try to plan ahead and put [...] [...] an ideal world we’d leave our retirement plans alone and rely on our emergency fund in a time of need. But let’s face it, life happens. As much as we try to plan ahead and put [...]

]]> By: Weekly Round Up | Master Your Card http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-112759 Weekly Round Up | Master Your Card Mon, 23 Mar 2009 05:11:47 +0000 http://genxfinance.com/?p=1467#comment-112759 [...] Jeremy @ Generation X Finance has a great article on competing goals. He looks at saving for an emergency fund, planning retirement, and paying off debt as the main [...] [...] Jeremy @ Generation X Finance has a great article on competing goals. He looks at saving for an emergency fund, planning retirement, and paying off debt as the main [...]

]]> By: Weekend Linkage - March 22, 2009: Visit To The New York Botanical Garden http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-112752 Weekend Linkage - March 22, 2009: Visit To The New York Botanical Garden Mon, 23 Mar 2009 02:49:20 +0000 http://genxfinance.com/?p=1467#comment-112752 [...] Build an Emergency Fund, Pay Off Debt, or Save for Retirement? Three Competing Goals That All Need Y...Attention Today @ Generation X Finance [...] [...] Build an Emergency Fund, Pay Off Debt, or Save for Retirement? Three Competing Goals That All Need Y…Attention Today @ Generation X Finance [...]

]]> By: George Webber http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-112089 George Webber Sat, 21 Mar 2009 00:37:20 +0000 http://genxfinance.com/?p=1467#comment-112089 Good Information in this article. I personally have chosen to solely concentrate on debt elimination. Every month my financial needs decrease, this is one of the best ways to be able to survive things like a job loss. I will be able to build a emergency fund very fast once I gotten rid of all my debt. You simply loost too much money in interest not to pay it off as fast as humanly possible. Good Information in this article.
I personally have chosen to solely concentrate on debt elimination. Every month my financial needs decrease, this is one of the best ways to be able to survive things like a job loss. I will be able to build a emergency fund very fast once I gotten rid of all my debt. You simply loost too much money in interest not to pay it off as fast as humanly possible.

]]> By: Henry http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-112029 Henry Fri, 20 Mar 2009 19:53:38 +0000 http://genxfinance.com/?p=1467#comment-112029 Honestly, if you're in your 20's retirement shouldn't be the greatest priority. Yes, you can put some $ towards retirement but you've probably got a lot of other concerns: student loans, car payments, rent w/ a low-paying job, buying a house in (maybe) ten years, having a kid. Something that's going to happen in 50 years is important, no doubt, but trad. investing/emergency fund/debt payment seems a bit more pressing. Honestly, if you’re in your 20’s retirement shouldn’t be the greatest priority. Yes, you can put some $ towards retirement but you’ve probably got a lot of other concerns: student loans, car payments, rent w/ a low-paying job, buying a house in (maybe) ten years, having a kid. Something that’s going to happen in 50 years is important, no doubt, but trad. investing/emergency fund/debt payment seems a bit more pressing.

]]> By: Chris http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-111973 Chris Fri, 20 Mar 2009 15:39:37 +0000 http://genxfinance.com/?p=1467#comment-111973 1. Pay off consumer debt 2. Est emergency fund 3. Invest If you can do some combo of #1 and #2 at the same time, prima! 1. Pay off consumer debt
2. Est emergency fund
3. Invest

If you can do some combo of #1 and #2 at the same time, prima!

]]> By: A Week in Review: Edition #3 | My Findependence Day http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-111963 A Week in Review: Edition #3 | My Findependence Day Fri, 20 Mar 2009 14:40:07 +0000 http://genxfinance.com/?p=1467#comment-111963 [...] 1 - Generation X Finance looks at how to deal with several financial goals at the same time. [...] [...] 1 – Generation X Finance looks at how to deal with several financial goals at the same time. [...]

]]> By: Craig http://genxfinance.com/2009/03/19/build-an-emergency-fund-pay-off-debt-or-save-for-retirement/comment-page-1/#comment-111962 Craig Fri, 20 Mar 2009 14:39:06 +0000 http://genxfinance.com/?p=1467#comment-111962 @Beth I know I should start to set up an IRA account and begin to contribute, hopefully I could get to $1000 for the year, it's very little, but could help. Experiences are worth investing in if you can. I am young and already have done quite a lot of traveling, and it's like a drug to me. Already planning my next adventure, because I feel since I am young and have no financial responsibilities other than to myself, this is the best time to get some trips out of the way before life gets in the way. @Beth I know I should start to set up an IRA account and begin to contribute, hopefully I could get to $1000 for the year, it’s very little, but could help.

Experiences are worth investing in if you can. I am young and already have done quite a lot of traveling, and it’s like a drug to me. Already planning my next adventure, because I feel since I am young and have no financial responsibilities other than to myself, this is the best time to get some trips out of the way before life gets in the way.

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