The image size limit has been raised to 1mb! Anything larger than that should be linked to. This is a HARD limit, please do not abuse it.
Our new Indie Games subforum is now open for business in G&T. Go and check it out, you might land a code for a free game. If you're developing an indie game and want to post about it, follow these directions. If you don't, he'll break your legs! Hahaha! Seriously though.
Our rules have been updated and given their own forum. Go and look at them! They are nice, and there may be new ones that you didn't know about! Hooray for rules! Hooray for The System! Hooray for Conforming!
So here's my situation: I am currently sitting on ~$11k in cash and I'm trying to decide what to do with it. When I purchased my house last August I took out a loan against my 401(k) ($8k) to put towards my down payment. That loan essentially takes $150 out of my paycheck each month and will continue to do so for another 53 months. The loan is at 5% interest, but all of that interest is just reinvested into my 401(k). I live below my means and have no other debt aside from that loan and my mortgage. I do also earmark a portion of this money for college funds for my nephew (nephews as of next Tuesday ), so realistically I have about $9.5k that I can play with. I have two options I am considering, but maybe you guys will have better ideas of what I can do with the money.
Option 1: Repay my 401(k) loan in full ($7.2k as of right now). This will free up some extra money each month that could be put back into savings/IRAs. Also, in the off-chance that I separate from my company I will be forced to pay the money back, in full, within 90 days anyways. Paying back this loan would ensure that what is in my bank account is actually what I would have in the case of job loss.
Option 2: Do nothing. Just hold on to the excess cash and keep it in case something big happens. This would mean something other than a job change, because then the loan would be forcibly paid back making all of this moot. Going bare bones with my expenses, this money could last me 6 months.
So H/A, what's your advice? What do I do with this money?