1. Welcome to Tacoma World!

    You are currently viewing as a guest! To get full-access, you need to register for a FREE account.

    As a registered member, you’ll be able to:
    • Participate in all Tacoma discussion topics
    • Communicate privately with other Tacoma owners from around the world
    • Post your own photos in our Members Gallery
    • Access all special features of the site

Just completed the best mod ever

Discussion in '3rd Gen. Tacomas (2016-2023)' started by Kamille.bidan, Feb 16, 2019.

  1. Feb 17, 2019 at 8:08 AM
    #61
    Tacowin1013

    Tacowin1013 Well-Known Member

    Joined:
    Dec 20, 2016
    Member:
    #205311
    Messages:
    2,628
    Gender:
    Male
    Vehicle:
    2017 OR DCSB 6MT MGM
    GIve it a shot, open up an online savings account for giggles, and have it automatically draw a certain amount from it each week or every 2 weeks, check it in 6 months.
     
  2. Feb 17, 2019 at 8:10 AM
    #62
    AZ Pete

    AZ Pete Well-Known Member

    Joined:
    Sep 17, 2012
    Member:
    #87135
    Messages:
    208
    Gender:
    Male
    Arizona
    Congratulations OP! Put some of that $ away for your kids education now. I have grandchildren that have and are stacking up student loan debt....not a good way to start out as an adult. You are setting a great example for your kids.
     
    Inferno! likes this.
  3. Feb 17, 2019 at 8:12 AM
    #63
    AZ Pete

    AZ Pete Well-Known Member

    Joined:
    Sep 17, 2012
    Member:
    #87135
    Messages:
    208
    Gender:
    Male
    Arizona
    You should set a lot more aside....like 10 to 15%. Take it from a guy that did, and has been retired for 15 years.
     
  4. Feb 17, 2019 at 8:15 AM
    #64
    Jleeb

    Jleeb Well-Known Member

    Joined:
    May 12, 2017
    Member:
    #218884
    Messages:
    438
    Gender:
    Male
    Vermont
    Vehicle:
    2017 DCLB OR SUPERwhite.
    Stock
    Where did you put the 15% ?
     
  5. Feb 17, 2019 at 8:18 AM
    #65
    aggr0crag

    aggr0crag Well-Known Member

    Joined:
    Jan 25, 2019
    Member:
    #280625
    Messages:
    379
    Vehicle:
    19 DCSB 4x4 Sport M/T
    Check out his book 'The Total Money Makeover' it lays out his entire philosophy. Also the Every Dollar App is a great tool.
     
    Jleeb[QUOTED] likes this.
  6. Feb 17, 2019 at 8:25 AM
    #66
    Alden

    Alden Well-Known Member

    Joined:
    Jun 15, 2018
    Member:
    #256489
    Messages:
    383
    Gender:
    Male
    First Name:
    Alden
    Atascadero, CA
    Vehicle:
    2018 Cement Tacoma DCSB TRD OR AT 4x4
    Pharmacy school in California. Got her paid off after about 3.5 years.
     
    Tacowin1013, Wixo[QUOTED] and SC3 like this.
  7. Feb 17, 2019 at 8:28 AM
    #67
    Wixo

    Wixo Platinum+ Member

    Joined:
    Dec 12, 2016
    Member:
    #204665
    Messages:
    4,142
    Gender:
    Male
    First Name:
    Hank
    Vehicle:
    ‘21 SR5 Tundra CM 5.7L Barcelona Red
    Tint, LED interior
    Sounds like it was worth it
     
  8. Feb 17, 2019 at 8:59 AM
    #68
    AZ Pete

    AZ Pete Well-Known Member

    Joined:
    Sep 17, 2012
    Member:
    #87135
    Messages:
    208
    Gender:
    Male
    Arizona
    combination of 401k, IRA, and taxable investments. The taxable account was to assure that our home would be mortgage free on, or soon after retirement...I was transfered a couple of times between first home and retirement, and put much of the home sale profit into this account, in addition to any bonuses. The retirement accounts have been invested, and remain so. But I now take the RMD out as required by law, which has increased my annual income 20 to 25%.

    Don't get me wrong, it was not always easy to stick to the plan, but it is easier with time.
     
    Last edited: Feb 17, 2019
    Clearwater Bill and Alden like this.
  9. Feb 17, 2019 at 9:18 AM
    #69
    oconnor

    oconnor Where am I?

    Joined:
    May 28, 2016
    Member:
    #188156
    Messages:
    2,382
    Gender:
    Male
    Midwest
    Vehicle:
    '18 TRD Sport 4x4 AC 6MT/ '04 TJ Rubicon
    That is fantastic. Hopefully that rubs off on the kids as well. I wasn't taught good money management skills, thankfully my wife is great with money and is teaching our son good habits.
     
    AZ Pete likes this.
  10. Feb 17, 2019 at 9:26 AM
    #70
    skynyrd87

    skynyrd87 Well-Known Member

    Joined:
    Feb 3, 2019
    Member:
    #281709
    Messages:
    565
    Gender:
    Male
    Vehicle:
    2023 TRD Pro Solar Octane AT 2001 TRD OR White MT
    Yeah, those assholes charge admission it's so damn expensive. I'm a Sprouts guy myself.
     
    Clearwater Bill likes this.
  11. Feb 17, 2019 at 9:28 AM
    #71
    SoCal_Erik

    SoCal_Erik Tiki Taka, Tika Taka

    Joined:
    Nov 11, 2015
    Member:
    #169295
    Messages:
    1,567
    Vehicle:
    ‘23 Tundra SR5 Sport, ‘16 SR5 DCSB (sold), ‘15 SR5 DCSB (sold), ‘16 4Runner SR5, ‘15 OR DCSB (sold), ‘05 SC (sold)
    Ramsey plan? Doing it myself!

    Congratulations either way!!!!
     
  12. Feb 17, 2019 at 9:31 AM
    #72
    Beaner Taco

    Beaner Taco Well-Known Member

    Joined:
    Dec 4, 2017
    Member:
    #237637
    Messages:
    315
    Gender:
    Male
    WV
    Vehicle:
    '17 SR5
    Check out his site for the baby steps. It's a step by step approach.
    https://www.daveramsey.com/baby-steps

    He also does a nation-wide radio show every afternoon. I didn't know about him until after I was debt-free but still listen to his show during my ride home every afternoon. Most straightforward way to a comfortable retirement.
     
    SC3 likes this.
  13. Feb 17, 2019 at 9:36 AM
    #73
    Twitcher

    Twitcher Well-Known Member

    Joined:
    Jul 2, 2018
    Member:
    #258105
    Messages:
    68
    Gender:
    Male
    First Name:
    Tom
    Vehicle:
    2018 TRD Sport
    RMDs are a pain in the rear. Gauls me every year to have to pay the
     
  14. Feb 17, 2019 at 9:40 AM
    #74
    Tacowin1013

    Tacowin1013 Well-Known Member

    Joined:
    Dec 20, 2016
    Member:
    #205311
    Messages:
    2,628
    Gender:
    Male
    Vehicle:
    2017 OR DCSB 6MT MGM
    How does Dave Ramsey feel about throwing cash at dancers? :anonymous:
     
    skynyrd87 likes this.
  15. Feb 17, 2019 at 10:05 AM
    #75
    Vlady

    Vlady Well-Known Member

    Joined:
    Dec 20, 2017
    Member:
    #238986
    Messages:
    4,593
    Gender:
    Male
    Issy, WA
    Vehicle:
    2017 White SR5 DCSB V6 4x4
    Kids and ro
    It is all about priorities. Car loans do not go well with 3 kids on your shoulders.
    I'm glad you got out of it, but you should not be getting into that pickle.
     
  16. Feb 17, 2019 at 10:09 AM
    #76
    Clearwater Bill

    Clearwater Bill Never answer an anonymous letter

    Joined:
    Oct 11, 2014
    Member:
    #140097
    Messages:
    24,711
    Gender:
    Male
    First Name:
    Billy
    Largo Florida
    Vehicle:
    '13 5 lug AC w/convenience package
    A few OE parts from fancy trucks
    One of the ways to 'fight' that is to transfer $ from the traditional to a Roth every year, lowering the traditional balance. Yes, you are generating a tax hit, but right now (and for a few years) the tax rates are about as low as they'll be.

    If you can balance the books to stay in the 12% slice, that's pretty good. But even if you tip over into the 15% area, it's still better than what it will be in the future. We'll have to pay the piper on the traditional in one way or another. But in all fairness we knew that when we started using them. So the smart money says to try and control your exit plan with minimal impact.

    You can also lessen the blow greatly with GMDs

    And if you are big bucks, up over the 15% threshold, you likely need a tax accountant to be helping you along anyway.
     
  17. Feb 17, 2019 at 10:18 AM
    #77
    AZ Pete

    AZ Pete Well-Known Member

    Joined:
    Sep 17, 2012
    Member:
    #87135
    Messages:
    208
    Gender:
    Male
    Arizona
    I think Dave would support this, so long as you are the dancer.
     
  18. Feb 17, 2019 at 10:23 AM
    #78
    Tacowin1013

    Tacowin1013 Well-Known Member

    Joined:
    Dec 20, 2016
    Member:
    #205311
    Messages:
    2,628
    Gender:
    Male
    Vehicle:
    2017 OR DCSB 6MT MGM
    We've been doing that now essentially a "back door roth" since we would have to pay a penalty to contribute to a Roth IRA
     
  19. Feb 17, 2019 at 12:13 PM
    #79
    HTeeAre

    HTeeAre Well-Known Member

    Joined:
    Sep 30, 2018
    Member:
    #267939
    Messages:
    151
    Gender:
    Male
    Vehicle:
    2016 Quicksand TRD OR 4x4
    The hell it is! He modified his budget and everything improved! Sort of when you mod your truck with new wheels and tires and Off Road grip increases, or a bumper with a winch and recovery capabilities increase.
     
    Alden likes this.
  20. Feb 17, 2019 at 12:20 PM
    #80
    DW85

    DW85 Dude.....

    Joined:
    Jan 17, 2013
    Member:
    #95397
    Messages:
    928
    Gender:
    Male
    First Name:
    Daniel
    Kentucky
    Vehicle:
    2001 XtraCab Tacoma TRD 4x4/2004 SR5 V6 4Runner
    Tacoma: Badlands basher front bumper Trail gear rear bumper Trail gear sliders OME Dakar’s OME 883 Coils Bilstein 5100s front Bilstein 5125s rear SPC Upper Control Arms Wheeler’s Extended brake lines ProComp 51 Series 15x8 3.5” BS 32x11.50x15 BFG KO2’s Honda CR-V windshield washer nozzles Hella 500FF fog lights Energy Suspension power steering rack bushings 4Runner: Hankook DynaPro ATM RF10 265/70r17’s TPMS Bypass mod RCI Skid Plate CBI Ditch light brackets 1.25” Wheel Spacers 2” Front Leveling Kit
    Congratulations that must feel amazing!
     

Products Discussed in

To Top