JTH's Account Talk

[JTH]

Good morning friends

My TSP loan went through, so my account balance has been cut in half. The process was easy and it took less then 3 weeks.

I didn't get the full amount I had applied for because of the loss my account took this month. But the good news is they didn't make me redo the application, they just gave me less money.

Now I'll use the money to pay off 2 1/2 of my 3 credit cards. After my tax return, I'll have the last card paid off and can work on paying off the TSP loan quicker.

I look foward to being dept free again... :cheesy:

 

[CountryBoy]

Good morning friends

My TSP loan went through, so my account balance has been cut in half. The process was easy and it took less then 3 weeks.

I didn't get the full amount I had applied for because of the loss my account took this month. But the good news is they didn't make me redo the application, they just gave me less money.

Now I'll use the money to pay off 2 1/2 of my 3 credit cards. After my tax return, I'll have the last card paid off and can work on paying off the TSP loan quicker.

I look foward to being dept free again... :cheesy:

Congrats on getting a handle on your debt, debt free is the only way to fly.

CB

 

[JTH]

Hi everyone, I hope all of you are doing well.

Now that my TSP loan whet through, it’s kind of depressing to see my account balance, especially since they took the money out right after we took the big dives. I see that my recent absence hasn’t changed the overall tone of this market. I’ve pulled it all back to G. I haven’t had the desire to watch this market closely, so I may stay out for a while, until I know what I’m looking for.

Good luck everyone!!!

 

[Guest2]

Welcome back stranger and congrat's on the Debt free endevor!

 

[wv-girl]

Good morning friends

My TSP loan went through, so my account balance has been cut in half. The process was easy and it took less then 3 weeks.

I didn't get the full amount I had applied for because of the loss my account took this month. But the good news is they didn't make me redo the application, they just gave me less money.

Now I'll use the money to pay off 2 1/2 of my 3 credit cards. After my tax return, I'll have the last card paid off and can work on paying off the TSP loan quicker.

I look foward to being dept free again... :cheesy:

Congrats. Just be sure to cut up your cards so you don't use them again and get back in that rut.(Made that mistake once--when I was young and dumb) No need to close the accounts, and when they re-issue new cards just don't activate them.

 

[mick504]

Paying off debt is like having a weight lifted off your shoulders! Also like cleaning out the closet or garage and donating and recycling stuff. There's more room and order and the mind to clearer! Good going...the companies just love to suck us in!!

 

[JTH]

Congrats. Just be sure to cut up your cards so you don't use them again and get back in that rut.(Made that mistake once--when I was young and dumb) No need to close the accounts, and when they re-issue new cards just don't activate them.

Thanks, I'm kinda proud of myself, I haven't used any credit cards in over threee months! I haven't cut up my cards, but I do keep them secured at work, to help remove the temptation.

 

[mick504]

I just wonder if Congress or someone will cause home loans to not reset....stay at their current interest rate. I wouldn't doubt it as anything seems to go now. GM and Chrysler are getting some help already I heard....I guess making gas guzzlers is o.k. I don't see Toyota or Honda having the same problems. It's like if a debt is to big to collect...it gets political and they won't go after it; but if it's small we must get the money back! It always seemed the case where I used to work.

 

[wv-girl]

Thanks, I'm kinda proud of myself, I haven't used any credit cards in over threee months! I haven't cut up my cards, but I do keep them secured at work, to help remove the temptation.

That's great. Maybe when you are ready to finally get rid of them, you can blow them up---like on Dave Ramsey's show. :nuts:

 

[wv-girl]

I just wonder if Congress or someone will cause home loans to not reset....stay at their current interest rate. I wouldn't doubt it as anything seems to go now. GM and Chrysler are getting some help already I heard....I guess making gas guzzlers is o.k. I don't see Toyota or Honda having the same problems. It's like if a debt is to big to collect...it gets political and they won't go after it; but if it's small we must get the money back! It always seemed the case where I used to work.

Congress cannot tell the banks what to do since they are private. Why do you think some banks like PNC used the money they were allowed to borrow to buy National City? That is what our Bailout $ is going for, not to help the little guy. They just want to make $ off of the taxpayer and we don't even get kissed.

 

[Gumby]

Congress cannot tell the banks what to do since they are private. Why do you think some banks like PNC used the money they were allowed to borrow to buy National City? That is what our Bailout $ is going for, not to help the little guy. They just want to make $ off of the taxpayer and we don't even get kissed.

Taxpayer are always going to get bent on this bailout.......assume the position for the next 10 to 25 years.:nuts:

 

[JTH]

Still holding 100% G

I bailed last month at 954, and looking back, I'm glad I did. Even the Obama luster hasn't held this market up. As far as I'm concerned this is just the beginning of a bad 2-3 years and I see no reason to play this market with the IFT limitations in place.

My best to everyone here!

 

[airlift]

JTH,
Likewise, best wishes to you. Are you holding G or F?

Still holding 100% G

I bailed last month at 954, and looking back, I'm glad I did. Even the Obama luster hasn't held this market up. As far as I'm concerned this is just the beginning of a bad 2-3 years and I see no reason to play this market with the IFT limitations in place.

My best to everyone here!

 

[JTH]

I admire many of you here and I'm saddened by our the recent turn of events. The best decision I've made this month is not to make one.

I'm still sitting in G and I hope those who choose to take risk with the IFT limitations in place, prosper.

As for me, I'm just not smart enough to make these plays...

 

[KevinD]

As for me, I'm just not smart enough to make these plays...

I'm not either. Thats why I'm only playing with 10%.

 

[JTH]

Here are some interesting numbers to ponder (YMMV)

Since 10 October 2007, the C-Fund has lost 49% of it's value.

I've lost money since then and made a TSP loan that cut my balance down to less than half of what it is now. Yet if I bought the C-Fund today, I would own 85% of the shares I had owned back in October 2007!

Now that's scary folks!

 

[Birchtree]

And if you buy the C fund now you will accumulate shares much faster with your contribution - you should hope it takes at least three years to regain $17.50 a share - but I sincerely doubt we'll be that lucky because this fund is coiled to go back up as fast as it came down.

 

[JTH]

I took a 25% dip into the C-Fund today

Why you may ask? Because in the short-tem, I believe we are almost bled dry. I have lost all expectations of breaking even this year, so for now, I'll just squeeze out a nickle here and a dime there.

Best to all my TSP friends!!!!

-18.21% YTD

 

[fabijo]

And if you buy the C fund now you will accumulate shares much faster with your contribution - you should hope it takes at least three years to regain $17.50 a share

I'm hoping even longer than that! But unlikely.

 

[JTH]

I'm hoping even longer than that! But unlikely.

True, those of us far from retirement, see this as the buying opportunity of a lifetime!!!