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Response to comments

December 30th, 2016 at 07:44 pm

I would love to increase my retirement savings. In 2010 I was contributing 10%. Then the company I was for closed. I was out of work for 5 1/2 months. I had been an office manager at a car dealership. I was out of work for 5 1/2 months. I am now a payroll manager at small liberal arts college. I took about a 15% pay cut. We are on the second year without raises. I actually debated lowering the % however plan on leaving it at 4%.

Once I have my car paid off I plan on saving the payment for future car repairs/replacement.

My mortgage rate is 5.125%. Helco is 2.99 variable.

Posted in Uncategorized | 3 Comments »

3 Responses to “Response to comments”

  1. fern Says:
    December 30th, 2016 at 08:10 pm 1483128607
    1483128607

    I'm glad you found another job. I am unemployed myself now. From everything I hear, unemployment rate is fairly low and (any day now) wages should increase. But at least in my field, in my area of CT, the job market is not showing much life.

    Hope you pay off that car loan soon.

  2. ThriftoRama Says:
    December 30th, 2016 at 08:25 pm 1483129530
    1483129530

    Hmmm. It seems like you might be able to get a lower rate on that mortgage. I thought rates were about 4.25 percent around here, maybe less. It might be worth looking into, as long as it doesn't extend the pay off term of your loan!

  3. Dido Says:
    December 30th, 2016 at 08:40 pm 1483130440
    1483130440

    The HELOC rate is good...is that long term or just for a fixed period? I took out a HELOC in November 2015 which had a rate comparable to yours for the first year, but that was only for the first year, and now it's over 6%, so I am more motivated to pay it down.

    I would think you could get a better rate on the mortgage by refinancing, as long as you are working.

    Sound like good plans and good luck to you. I hope you didn't take comments as criticism.

    I know full well what it is like to take a paycut. I was laid off this year and my current job started at a pay level that was only 2/3s of what I used to make. As Fern says, being working is definitely a blessing! (Especially after being laid off when you are 50+!)

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