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 To Spend or Not to Spend! That is the .....you know 
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Post To Spend or Not to Spend! That is the .....you know
I've been thinking about this question for a while and I wanted to ask the older members (and the younger ones too) what they think;

Should you spend it up now or save save save so you can spend it up when your old?

How did you go about it (if you have experience)?


Hyazuma

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1.1 Polini Sport 70cc P1660076 SOLD
2. Stage 6 Full Circle Racing Crank
3. NGK BR7HS
4. Malossi Over-Range Race Transmission 29.7grams (malossi rollers)
5. Malossi Yellow Torque Spring
6. Malossi Delta Clutch
7. Malossi Wing-Bell Clutch Bell
8. Malossi Sport Clutch Springs for Delta/Fly (Currently running white)
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10. Polini Airbox (This is the most pimpin part I have on my scoot!)
11. Pirelli SL26/Michelin Bopper combo
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13. Arreche 19mm Carburetor
14. Arreche Manual Choke
15. Laser XPRO Expansion Chamber Exhaust (Low tone = Happy Nieghbors)
16. Nuova Ray High Performance Scooter Ignition (Prog. rev limiter and detune switch)

Touch my parts again and I'll cut you up into tiny pieces and make a salad!


Tue Oct 20, 2009 8:54 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Both!

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'05 Zuma 50, Athena sport 70cc (12mm piston) with Polini head (.9 squish), B9ES spark plug; timing advanced about 2˚; Yasuni C16 exhaust, Buzzetti kick stand to make room for it (and Stage6 paddock stand after dropping the freaking bike because of the kick stand); stock airbox no snorkel, 5 x 1/2" holes; Stage6 21mm racing PHBG, 45/95/W7 1 lean/40 slide; Polini/Power One 12mm HPC crank; Athena 15/50 gears (also have 14/42s pressed into a gearbox cover, just switched back and like the 15/50s so far); 107mm Malossi Delta clutch, "racing" red springs/lighter "racing" counterweights ± 6800 RPM engagement, Stage6 Kupplungsglocke (bell - the light one); Malossi 6112811 Overrange kit, red contra and 28.2G rollers; VForce 3 reeds; Michelin Bopper tires; back to the stock shock; dual headlight wiring; C3 mirrors; Trailtech TTO tachometer and temp gauge.


Tue Oct 20, 2009 9:04 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
It is a lot harder to earn it when you are old than young. You most likely will need less when old, you paid for your house and all in it when younger. Don't forget inflation that will remove about 25% of your fixed income every 8 years if the past 8 years are any guide.

My advice, figure out how much you think you will need per month, add about 25%, set that aside and enjoy the rest. Buy your RV before you retire that way it is paid for and you have all the bugs worked out.

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Wed Oct 21, 2009 6:13 am
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Post Re: To Spend or Not to Spend! That is the .....you know
It is better to save your money. Maybe not all of it, but you should put a portion of your paycheck to saving for retirement. It doesn't mean you have to be old to retire. If you start putting like 200-300 a month away now (lets say your 18). Invest in a good mutual fund for security and in 40 years you will have almost 2 million and you will only be 58. This is due to compound interest. Google it.

Current Principal: $ 5000
Annual Addition: $ 3600
Years to grow: 40
Interest Rate: 10%

Equals = $ 1,978,962.80

Hope this helps you youngstas. :cheers:

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X7rocks wrote:
obviously stupid poeple are gonna chime in and thats what i did.


Wed Oct 21, 2009 11:16 am
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Post Re: To Spend or Not to Spend! That is the .....you know
scootio54 wrote:
40 years you will have almost 2 million and you will only be 58.


How can you be sure the mutual fund doesn't severely restrict your monthly withdrawal (I'd like to withdraw all of it if I could and be a 2-millionaire) or steal/lose 90% of it?

Hyazuma

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Current Configuration:
1. ATHENA HYPER RACE 70cc (Part Number: 081000-081000/1) (Yes it's fast)
1.1 Polini Sport 70cc P1660076 SOLD
2. Stage 6 Full Circle Racing Crank
3. NGK BR7HS
4. Malossi Over-Range Race Transmission 29.7grams (malossi rollers)
5. Malossi Yellow Torque Spring
6. Malossi Delta Clutch
7. Malossi Wing-Bell Clutch Bell
8. Malossi Sport Clutch Springs for Delta/Fly (Currently running white)
9. Malossi Up-Gears
10. Polini Airbox (This is the most pimpin part I have on my scoot!)
11. Pirelli SL26/Michelin Bopper combo
12. Hyazuma Special Throttle Cable (This one is B2TB!)
13. Arreche 19mm Carburetor
14. Arreche Manual Choke
15. Laser XPRO Expansion Chamber Exhaust (Low tone = Happy Nieghbors)
16. Nuova Ray High Performance Scooter Ignition (Prog. rev limiter and detune switch)

Touch my parts again and I'll cut you up into tiny pieces and make a salad!


Wed Oct 21, 2009 2:47 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
It is important to max out your retirement plan contribution every year if you can, and maximize either or both your employer match and your tax savings. IRAs, 401(k)s and the like accrue tax-free and are only taxed at withdrawal. Most plans allow you to deduct the contribution from your current income tax return. I started my retirement savings thirty years ago at age 23 and now have more than I'll probably need. However, since I am still under 59 1/2, I cannot withdraw it without penalty at this time.

I say, save wisely and don't spend it all now. My like-aged friends who bought every new toy and did not save are now trying to scrape up enough money to live on in today's economy.

I like to think I did it right, as I have not had to change my life-style even in this miserable economy.

My first kid starts college in September, but that is another story entirely.

(P.S. Scootio54--You are right, but no one is getting 10% anywhere. Rate is less than 3% now, but the theory is still sound.)

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2009 Zuma 125 picked up 9/21/2010 with 9/10 of a mile on the odo
C3 Mirrors, GPS Ram-Mount, Stebel M80 Magnum low tone horn,
KS/BTX Forward Pegs, Rear Rack with GIVI trunk
Clocks4Bikes Handlebar Clock, Termoscud Lap Apron (seasonal)
VA Tag: 96 MPG
Rolling Thunder/Ride of the Patriots 2012
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Gone, but not forgotten:
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Rolling Thunder/Ride of the Patriots 2010


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Wed Oct 21, 2009 3:10 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
The old rule of thumb use to be save 10% of everything you earn. Then ask yourself what can I buy for 10 that I can't get for 9? I think you will find very little that you would care to have. The way things are looking right now you health care cost are going to be through the roof and as you age your health declines, thats a law of nature. You need to have fun but you must save for the future.

The advice for finding a good mutual fund is very good, I'm now running a little over 30% increase for this year in one and right at 25% in another. On the other hand my CDs are getting 2.5 on ten K a little more for more tied up. The thing to remember is that you are in it for the long run, only look at it once a quarter or so just to make sure it is not tanking. other wise hands off.

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Wed Oct 21, 2009 4:10 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
scooter commuter wrote:
(P.S. Scootio54--You are right, but no one is getting 10% anywhere. Rate is less than 3% now, but the theory is still sound.)


I used 10% interest conservatively in my previous post.
I'm no financial expert by any means, just a regular guy who listens carefully to my investment adviser.
Only recently has the rate of return been so low, but if you look at the big picture over the past 30 years it averages out to about 27 % and depending on the strategy and the risk your willing to take can be as high as 40% or more, at least in my experience. Nothing is for sure, but doing nothing, you will surely lose.

What's great about the recession is you can pick up some really great stocks at huge discounts so that when things pick back up you will be better off than you were before the recession. The down side is if you're at retirement age now.

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X7rocks wrote:
obviously stupid poeple are gonna chime in and thats what i did.


Wed Oct 21, 2009 4:17 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Hyazuma wrote:

How can you be sure the mutual fund doesn't severely restrict your monthly withdrawal (I'd like to withdraw all of it if I could and be a 2-millionaire) or steal/lose 90% of it?

Hyazuma


You will be a 2-millionaire, but it would be wise not to spend it. The idea is to retire early and live off the interest to maintain the level of comfort you are accustomed to, so you don't have to move into a little shack when you're old and can't work like you did when you we're young.

It's not a get rich scheme, it's just a way to secure your lifestyle. If you depend on the government to take care of you, you will be severely disappointed.

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X7rocks wrote:
obviously stupid poeple are gonna chime in and thats what i did.


Wed Oct 21, 2009 4:47 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Save now, but enjoy what you can when you can while you are young without being wasteful or foolish. The easy way to do that: Live on a written monthly budget. If you don't tell your money where to go, you'll never know where it went! Account for each and every dollar.

And do like the others mentioned, MAX OUT what you contribute to retirement savings that your employer matches. Otherwise, it's like saying "No" to free money. For investment saving, think long-term. Don't worry about short-term ups and downs. What boggles me is the people who trade online and log in to monitor stocks daily and trade daily or weekly. That's about the worst way to invest. Don't look for short-term gains.

Stay out of debt!!! Do not give into the idea of instant gratification. If you can't pay cash for it, you can't afford it. Other than a house, of course.

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Wed Oct 21, 2009 6:00 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Mista Lyle wrote:

Stay out of debt!!! Do not give into the idea of instant gratification. If you can't pay cash for it, you can't afford it. Other than a house, of course.


OH YEAH. NO CREDIT CARD DEBT. THAT'S JUST AS IMPORTANT AS MAXING OUT ON THE RETIREMENT ACCOUNTS. I SHOULD HAVE ADDED THAT, TOO. :doh:

One more thing, my parents followed this financial plan and now my 81 year old Mom lives well and comfortably, not wanting for anything. Since she did this, we kids are not in the position of having to support her, for which we are grateful. Just one more thing to consider long term. :wal:

All good advice above. And, kudos to Hya for asking.

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2009 Zuma 125 picked up 9/21/2010 with 9/10 of a mile on the odo
C3 Mirrors, GPS Ram-Mount, Stebel M80 Magnum low tone horn,
KS/BTX Forward Pegs, Rear Rack with GIVI trunk
Clocks4Bikes Handlebar Clock, Termoscud Lap Apron (seasonal)
VA Tag: 96 MPG
Rolling Thunder/Ride of the Patriots 2012
Rolling Thunder/Ride of the Patriots 2011
Member # 1807
http://www.facebook.com/steven.levine1?ref=name

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Gone, but not forgotten:
2008 Zuma 50--FAREWELL PARTY-SEPTEMBER 30, 2010
Co-SOTM November 2009
Rolling Thunder/Ride of the Patriots 2010


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Wed Oct 21, 2009 7:40 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Credit cards and credit card companies are pure EVIL. They are not out to help you in any way.

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Thu Oct 22, 2009 8:54 pm
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Post Re: To Spend or Not to Spend! That is the .....you know
Mista Lyle wrote:
Credit cards and credit card companies are pure EVIL. They are not out to help you in any way.


You're right to a point, they are there to make money. But credit cards are better than debit cards because debit cards do not carry all the protections that credit cards carry, also you have to keep very close track of what you spend with the debit or get hit with overdraft fees.

Get a credit card that pays points, there are lots, and make sure you pay it off each billing cycle, it will cost you nothing and you will get at least 1% back on everything you spend.
I've been doing this for years, works well, I have the CC bank debit my checking account on the due date of the card, that way I draw interest (interest bearing checking account) up to the date I have to pay.

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Fri Oct 23, 2009 6:38 am
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Post Re: To Spend or Not to Spend! That is the .....you know
Winder has it. credit card IS a good tool. always pay total at month end. some pay in advance, not unlike a debit.
my credit card pays me, not the other way.
this would be the evil gun analogy *guns are evil* no, it is the person using the gun, credit card.
Windbreaker wrote:
You're right to a point, they are there to make money. But credit cards are better than debit cards because debit cards do not carry all the protections that credit cards carry, also you have to keep very close track of what you spend with the debit or get hit with overdraft fees.

Get a credit card that pays points, there are lots, and make sure you pay it off each billing cycle, it will cost you nothing and you will get at least 1% back on everything you spend.

I've been doing this for years, works well, I have the CC bank debit my checking account on the due date of the card, that way I draw interest (interest bearing checking account) up to the date I have to pay.

Mista Lyle wrote:
Credit cards and credit card companies are pure EVIL. They are not out to help you in any way.


Fri Oct 23, 2009 9:15 am
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