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Heck yeah I've gone into debt for audio. In my case it was (is) short term borrowing.If you deal with an internet direct company, you give them a credit card.I've paid them off when the bill came, but that's still (short term) debt.Before I went hog wild on audio, I paid off my house and set my kids up with enough $$$ to get through 4 years of college.Satfrat, $35K on plastic and no job would scare the crap out of me. Enjoy the music.
HI Satfrat. Since you are 56 and lost your job, I believe that you can withdraw from your 401K without the 10% penalty.
When one sells off the audio gear, he loses between 20 - 30% of the value he paid for the gear.
... a credit card (more appropriately called a debt card)....
HI Satfrat. Since you are 56 and lost your job, I believe that you can withdraw from your 401K without the 10% penalty. You will have to fill out some paperwork for this. I would check with an accountant. Are there any accountants on this board?
Borrowing money is a good thing if it returns more than the interest you are paying. Sadly, audio equipment does not...
I agree, otherwise I'd have no toys! (My last post wasn't directed at you, just in general)Dave