I chose to pump $1500 into the economy today
After just getting off my soapbox about buying $1,500 televisions, and our own reasons for not buying, I decided to spend $1,500 of our money. But it might surprise you to know that it wasn’t any material goods that I purchased.
In fact, I transferred $1,500 into my Roth IRA. I just couldn’t bear seeing the market at such lows and not having the cash in my IRA to buy! The problem is that we now have to pay down our second mortgage quite a bit by next October so we can refinance the first mortgage. But it’s such a daunting task that it’s almost too overwhelming to think we can do it and still lead a somewhat enjoyable life (and still pay the last $5000 for my graduate school tuition).
Perhaps, if we’re lucky, the housing market would rebound enough to increase our home value another $10k-20k by this time next year? I doubt it though, so I’ll plan for the worst and be pleasantly surprised otherwise.