Dear David,
Thank You for your common sense advice. My husband and I are currently paying off a $100,000.00 business mistake (never go into business with a family member!), between bad debt settlements and attorney costs. We have learned to live on much less than before. No movies or lattes and minimal eating out. Through it all we have still managed to put money into retirement a Roth IRA and a dream/vacation account at ING.
My husband asked what we would do with all the money we had once the debt was completely paid (end 2006) and I said we should up the retirement, pay off the mortgage and save!
Thank You for the real life advice you offer. It makes money much less intimidating.
