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financing boot camp

January 26th, 2016 at 11:40 am

So my DH's boot camp starts in 2 weeks. Guess the vacation had to end sometime. LOL. It'll be $16k for the bootcamp and he's put down $1k deposit. They do offer loans, but I'm wondering if instead of paying cash we should do a 0% balance transfer or 0% purchase on a credit card.

I'd like to contribute to a Roth IRA for 2015 (we held back because we hadn't qualified for a few years and had been doing back door Roth IRAs). But now we can contribute and we have until April 15th. This year we can do a direct contribution.

So $11k to 2015 Roth IRA is on the table, $15k for bootcamp and our cash in hand is $70k. I'd rather not cash out any taxable accounts right now but at the same time we don't have any incoming income. That could change in 12 weeks and is likely to do so, but I'm wondering if we shouldn't try to finance the bootcamp ourselves (i don't like the rate they are offer at 6%) and instead hold onto the cash until June?

I wish I had a crystal ball. We are discussing cashing out stock from our taxable account but it's losing money right now to put into our Roth IRA. I also don't believe we'll get a tax refund or owe like we usually do.

Our goal is to get these numbers finalized this week and rough draft of the taxes done.

2 Responses to “financing boot camp”

  1. laura Says:

    Good luck all the way around!

  2. alice4now Says:

    I don't know the best advice, I'd probably take it from cash or 0% credit card, but good luck on the future plans!

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