vrek@programming.dev to Casual Conversation@piefed.socialEnglish · 20 days agoIf you were broke and needed a loan but with a good credit score, do you borrow a hundred dollars so you can pay it back quick or 20,000 so you are comfortable for a while?message-squaremessage-square25linkfedilinkarrow-up117arrow-down11file-text
arrow-up116arrow-down1message-squareIf you were broke and needed a loan but with a good credit score, do you borrow a hundred dollars so you can pay it back quick or 20,000 so you are comfortable for a while?vrek@programming.dev to Casual Conversation@piefed.socialEnglish · 20 days agomessage-square25linkfedilinkfile-text
Not looking for financial advice, I’m not in this situation. Just curious of people’s thought process about stuff.
minus-square🇸🇵🇪🇨🇺🇱🇦🇹🇪🇷@lemmy.worldlinkfedilinkEnglisharrow-up2·20 days agoI wasn’t broke but my bank offered me a stupid personal loan at about 3% interest. I took the maximum allowed at $25,000 and invested it in SPY a little over a year ago. I have two more years to pay it back. I’ve just been paying the minimum.
minus-squarevrek@programming.devOPlinkfedilinkEnglisharrow-up2arrow-down1·20 days agoOk, what’s spy? Besides the obvious international intelligence gathering organization…
minus-square🇸🇵🇪🇨🇺🇱🇦🇹🇪🇷@lemmy.worldlinkfedilinkEnglisharrow-up3·20 days agoOh sorry, it’s an index fund that mirrors the S&P 500. It’s the tech fund package. In Vanguard it’s VOO.
minus-squarevrek@programming.devOPlinkfedilinkEnglisharrow-up1arrow-down1·20 days agoAh, ok that makes sense. Til
minus-squareCanaconda@lemmy.calinkfedilinkEnglisharrow-up1·20 days agoYou might like the Smith Maneuver: Buy property with HELOC Max HELOC on dividend stock Double down on dividend stock with dividends and equity from payments on HELOC Pay off mortgage (with maxed HELOC) Sell stocks, pay off HELOC, net stock ROI & property
I wasn’t broke but my bank offered me a stupid personal loan at about 3% interest. I took the maximum allowed at $25,000 and invested it in SPY a little over a year ago. I have two more years to pay it back. I’ve just been paying the minimum.
Ok, what’s spy?
Besides the obvious international intelligence gathering organization…
Oh sorry, it’s an index fund that mirrors the S&P 500. It’s the tech fund package. In Vanguard it’s VOO.
Ah, ok that makes sense. Til
You might like the Smith Maneuver: