Open ◆ SNAIL [Spec] Racing - Presented by ButtKicker: Feel What You've Been Missing

Discussion in 'SNAIL Racing League' started by zer05ive, Dec 13, 2011.

  1. CANOWORMS1

    CANOWORMS1

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    The loss of compound interest in a retirement fund from a withdrawal is massive over time. I withdrew money from my retirement fund in the mid-90s due to lack of employment and have been sorry ever since (I retired in 2014). With today's low (non-existent?) interest rates a loan would make better sense. I wish I had done that even though it would have been for larger amounts and at a higher rate. IMHO. But it does sound like a killer package, although I have no idea what it is. I understood 'PC'. Politically Correct tax, right?
     
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  2. Rob Brown

    Rob Brown

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    My sim goal is to have a direct drive that works with PS Gran Turismo and also to have PC with high level Virtual Reality headset.
    The 401k withdrawal was in jest, at least for sim purposes. I have been considering paying off 1/2 the house mortgage with 401k in order that I don't have a house payment when my 13 year old hits college. I'm 10 years from retirement and he's 4 1/2 years from starting college. I thought Biden winning would tank the market but maybe he just needs time to sell out the country. Why let the market eat my retirement savings when I could put it to use before the socialistic Democrats :eek: erode what I've accumulated? oops, wrong thread for where this went?
     
    Last edited: Nov 11, 2020
  3. IceWarden

    IceWarden

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    You should probably head over to Parler for the remainder of that discussion...
     
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  4. Noob01_lmdead

    Noob01_lmdead

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    If i had 401k usd now
    I will retire Immediatlly
    And start an small real stare business in This side of the wall
     
  5. JLBowler

    JLBowler Premium

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    401k is the type of retirement savings account, not the amount of money in the account.
     
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  6. IceWarden

    IceWarden

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    I would love to have 401k right now....
     
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  7. Noob01_lmdead

    Noob01_lmdead

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    Good to know
    Tks
    Now i understand the above conversations
     
    Last edited: Nov 11, 2020
  8. JLBowler

    JLBowler Premium

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    If my 401k only had 401k in it right now, I'd be a very unhappy individual. I was fortunate that one of my first jobs, at 18, offered a 401k. I signed up and have just moved it from job to job or job to IRA account. My current company offers a matching contribution up to 6% so that will put the finishing touches on my retirement fund. The plan is to work for another 12 years and retire at 56.
     
  9. Yugofan

    Yugofan

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    I’m no financial advisor but have a background in finance and can confidently recommend nobody should cash out 401k to pay off the primary mortgage, especially if you have a new mortgage or refied anytime over the last 5 years or so. We lost the mortgage tax deduction in the recent bill but it’s still cheap money and you’d pass on return in the market almost guaranteed to exceed any mortgage interest over any extended period of time. DON’T do it, man....
    I started early in my 401k with little deposits that have steadily added up and grown. Canoworms is right on that you can’t catch up if you make those withdrawals. You’re living my dream brother! My plan is another 6 years, or about 300 weeks as I like to think if it, before my F U egg is hatched...
     
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  10. JLBowler

    JLBowler Premium

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    That's funny. My plant manager and I are only a couple of years apart in age. He always refers to his retirement as F U money. We have a race to F U money going on between us. Right now it looks like we will probably hit our goals about a year apart. He needs to work to an older age as his kids are younger than mine.

    We also have a piece of property that we are going to have to sell before the new capital gains tax rate comes to fruition. It's agriculture property so the value doesn't fluctuate much over time so it's not necessary to catch it at the top of the market. We will most likley sell to the company that leases it from us now so both parties have a shared knowledge of what it's worth.
     
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  11. racingchamp30

    racingchamp30

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    Just got back, will be testing out the combo's suggested and will be posting my suggestion for prize A after.
     
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  12. racingchamp30

    racingchamp30

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    @JamCar0ne @TEX36 @IceWarden @Akzl298 @Rednose58

    Thank you for all who suggested in D2. I tested all of the combo's suggested and all four suggestions were really good, fun to play around with. I will be picking @TEX36 suggestion.

    Car: Gran Turismo Racing Kart 125 Shifter. $10,000 credits to buy.
    49HP 231lbs
    Track: Kyoto Driving Park - Miyabi.
    The best time i can get is 0:45.435
    Time i am picking is Dusk 19:30 Clear. For the racing kart combo, online race room Kart Usage setting has to be set to on for the shifter to show up.
     
    Last edited: Nov 12, 2020
  13. Rednose58

    Rednose58

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    Sunday, November 15, 2020 Lineup
    November 2020 Season - League Night #3
    1. GRAN TURISMO RACING KART 125 SHIFTER on SS Tires @ Kyoto Driving Park - Miyabi - 19:30 Clear - (21 Laps)
    2. TOYOTA GR SUPRA RZ 2020 on SS Tires @ Sardegna - Road Track - A - 05:15 Clear - (8 Laps)
    3. PORSCHE 911 RSR 2017 on RH Tires @ Red Bull Ring - 10:45 Cloudy - (10 Laps)

    Details
     
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  14. IceWarden

    IceWarden

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    Nvm
     
    Last edited: Nov 12, 2020
  15. Rob Brown

    Rob Brown

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    Thanks Yugo, I’ll refrain from tapping my “F U nest egg”. I’m mid 50s (that can’t be right, crap, when did that happen) and have contributed nicely to retirement savings (401k) (Sorry Raul, I should have called it that). Consider that you’ll withdraw $40k/year (that’s modest). If you live 20 years after retirement, that’s $800k. I’m not there yet. Or I could live large (run through it in 5 years) and then become my children’s problem!
     
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  16. IceWarden

    IceWarden

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    My children are 15 and 11 and we’re already their problem. Guess we better figure it out...
     
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  17. TEX36

    TEX36 Premium

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    @racingchamp30
    I apologize for not testing the Kart with other Karts on the track. Drafting causes the Rev Limiter to be hit much more. Should not have suggested until I had thoroughly tested it.

    Gentlemen, I am very regretful if this causes difficulties Sunday night.
     
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  18. racingchamp30

    racingchamp30

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    No apologies necessary, When i was testing it went into 5th gear leading into turn one. I think this combo will do fine for Sunday.
     
  19. IceWarden

    IceWarden

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    I tried it and I was in 6th near redline almost the entire way around. Should be fun though with a bunch of other people.
     
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  20. CourageRising

    CourageRising

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    Didn't see a lobby so I attempted to create one, some of the settings may be incorrect
    Lobby ID: 0475-4269-5221-7745-1076
     
  21. racingchamp30

    racingchamp30

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    For the first combo, Kart usage has to be turned On in the race settings before creating the lobby and then turn Kart usage back off for 2nd combo.
     
  22. Rob Brown

    Rob Brown

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    54F41D18-2951-4E04-BC02-7E06230F1B1B.jpeg B450E179-4E64-49B3-83D3-98D20F35FE84.jpeg
    Tonight’s update will release this car. I’m pickin’ it next time I win. Take ‘er easy on the turns, may roll like a turtle.
     
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  23. TEX36

    TEX36 Premium

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    Plan ahead for the Update - it is not a small one. Will take a while.
     
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  24. Kgffy

    Kgffy

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    Some Great racing Thursday practice, I’m
    Hoping new GT on PS5 is strong and we get more people to join and snail sticks around, be honest if not for SNAIL I would of left GT And probably went pc which is out of my budget but I have saved for new wheel and rig as of now, thanks too @JLBowler @zer05ive and all other who keep this league going.
     
  25. llNovall

    llNovall

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    Attention all Snail Drivers:
    The Snail-Porsche GT3 Cup Challenge series has 2 openings on the grid for next Friday, 11/20/20 at 9pm est at Lago Maggiore GP. Most of the series Reserve drivers have reported unavailable for the event, opening the opportunity to any Snail drivers who might be interested in racing.

    If interested, please reply in this linked thread:
    SNAIL-Porsche GT3 Cup Challenge (Season 2): Event #5 at Lago Maggiore GP on Friday, 11/20/20

    First 2 drivers to reply guarantee their spot on the grid for this event. Ready made Reserve liveries will be made available along with a link for a number of ready and tested tunes for the car used:
    '16 Porsche 911 GT3RS
    491hp
    2723lbs
    Tuning permitted
    Race Medium (Gold Drivers, lower D1 and D2)
    Race Hards (Platinum Drivers, upper D1 pace)
    1x tires/1x fuel
    (2) 40 minute races
    (1st off qualifying, 2nd Reverse Grid)
    Points scored will count in the driver standings, and will help and contribute to the team standings for the team you race for.

    The Replay Broadcast above was the reversed grid Race 2 from our last event. Have a look and reply if you want to give it a run.:cheers:
     
    Last edited: Nov 14, 2020
  26. IceWarden

    IceWarden

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    After next Friday I would love to try that.
     
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  27. llNovall

    llNovall

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    I'll be sure to tag you for future events. Thanks for the interest and reply.:cheers:
     
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  28. TEX36

    TEX36 Premium

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    Practice room open

    CLOSED
     
    Last edited: Nov 15, 2020
  29. CourageRising

    CourageRising

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    I will not make it to race night tomorrow; will be enjoying dinner with family, good luck everyone
     
  30. JLBowler

    JLBowler Premium

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