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Peace Of Mind!

Discussion in 'Snippets of Life (Non-Fiction)' started by nuss, Jun 28, 2022.

  1. nuss

    nuss Finest Post Winner

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    Thank you @Viswamitra ji! You have given a great foundation to your son and I am sure he understands the risks/benefits of the loan. I hope his patents are successful. If he is an inventor, I understand the spirit. I have a patent (academic so I didn't need to spend any money and the university gets most of the revenue it generates) so I get the thrill of inventing something new and wanting to patent it.

    "Simplicity and contentment result in extraordinary benefits in life."

    Such a powerful statement! Contentment is the key to happiness!
     
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  2. nuss

    nuss Finest Post Winner

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    Thanks, @Rihana! Hope you are staying cool! the temperature has been in mid-90s in our area....my North Indian family will disown me for complaining about the weather but here I am :)
     
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  3. nuss

    nuss Finest Post Winner

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    Thank you @Thyagarajan ji! Yes, Tenure stands! I was recently offered a similar position at an Ivy League school (that I declined due to various reasons) and it was fulfilling to see that not only the ivy school tried to poach me (the term we use in academia when one is in demand and other universities try to offer higher salary/benefits to entice) but they also offered promotion (right after my first promotion). Coming from a non-English speaking rural background I'd never thought this will happen!
     
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  4. nuss

    nuss Finest Post Winner

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    Congratulations! I bought my first car brand new on a crazy 6% loan from the dealer when I was new in the USA and had just found out the power of credit. I paid it off in 4 years instead of 6 and told myself never to repeat this. I drove the car for 13 years and two years ago traded it for a barely used (10,000 miles) hybrid that we paid in cash. We had a similar experience. I asked for a better discount because we're paying in cash and the dealer said we can you $1000 off if you get the loan from us. No thanks!
     
  5. nuss

    nuss Finest Post Winner

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    Thank you so much!
     
  6. nuss

    nuss Finest Post Winner

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    Congratulations @DDream! Interest rates are going up on CDs now... I have seen over 1% interest rate on saving accounts too. Yes, 529s and 401s are dependent on the stock market which has been doing poorly for the last several months but this will improve so keep investing.

    Totally agree that being debt-free is a personal choice.
     
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  7. MalStrom

    MalStrom IL Hall of Fame

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    Unless you need the money in the very near future this is a good time to keep investing in solid bets like index funds. When the market starts to rise again you will reap the benefits.
     
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  8. shyamala1234

    shyamala1234 Platinum IL'ite

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    Dear Nuss,
    I appreciate your financial discipline of a debt free life.it gives a lot of peace.
    Syamala
     
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  9. DDream

    DDream Finest Post Winner

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    Is it possible to directly buy it? If so , how and from where? I thought investment banks help us with it.
     
  10. MalStrom

    MalStrom IL Hall of Fame

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    You can directly open accounts with mutual funds like Vanguard and Fidelity. I have these in my 401k but also maintain separate accounts. I just set an amount to automatically transfer each month from my bank account to the funds. This gives you dollar cost averaging. Some of my friends are buying stock in the currently valuable companies like Tesla as the stock price stumbles down but I don’t have the stomach for that.
     
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