Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
BigHornRam
Well-known member
Being locked into a sub 3% interest mortgage defiantly makes it hard to want to pay it off early. Most of the mortgages I had over the years were in the 6 to 8% range. But imagine being able to put that $2,000 or whatever your monthly payment is right now, into an investment, instead of sending it off to the lender. That's were the snowball really starts to gain momentum.
BuzzH
Well-known member
Do you discount the investment that is your home? While home appreciation is not liquid cash, it most certainly is an investment and an accumulation of net worth. The value of my home doubled in 9.5 years. I would have to confirm, but in that 9.5 year stretch, I'm not so sure the S&P 500 did much, if any better.
BigHornRam
Well-known member
All my homes have been a great investment. Everyone sold for much more than they cost me to build. Plus, I didn't have to pay rent, just taxes and insurance. Sweat equity is the best equity. This patio project has really been kicking my 63 year old ass. But I keep pecking away at it, just like investing. And just like investing, it is finally starting to look like something.
AI said S&P 500 10 year return was roughly 290%
noharleyyet
Well-known member
Primary Residence Taxes, Surety, Maintenance, Energy, & Utillities never sleeps...& unless you have a suitable secondary abode, appreciation is an offsetting balance.
Jack Ryan
Active member
Best of luck to ya. I'm sure you don't need anything else I have to offer. May be you can even teach me a few tricks.
Nick87
Well-known member
For a guy who calling people know it alls. You sure seem to have it all figured out. I don't think there's been a single person on this thread who claims to have it all figured out like you do. Most here are just sharing what has worked for them so far or what they think is the best option for there position.
El Jason
Well-known member
Are you a financial planner/advisor?
longbow51
Well-known member
- Joined
- Feb 17, 2023
- Messages
- 1,496
If a financial advisor is over 60, ask them why they aren't retired by taking their own advice.
And let's face it, there's luck involved. If you hit retirement age in 2000 or 2008 and had most of your money in equities, that was just bad luck. Of course, that wouldn't have been prudent approaching retirement, but lots of folks got caught in the tech bust.
And let's face it, there's luck involved. If you hit retirement age in 2000 or 2008 and had most of your money in equities, that was just bad luck. Of course, that wouldn't have been prudent approaching retirement, but lots of folks got caught in the tech bust.
I was kind of thinking that same thing- best practice for most normal people is to take financial advice from those with more money than you have or have at least gotten to where you want to go.
*It’s uncool to discuss it in most instances, so it’s not like you ever really know though.
Last edited:
Divorce?
El Jason
Well-known member
I know one over 60 (not ours) who just enjoys his job.
noharleyyet
Well-known member
Not for nothing I figure saj for a blue campaign manager bearding as a very sharp FA....
Continued comment. I know a couple guys that have been divorced by their wives 55-60. One was after a meeting with the couples financial advisor and her doing the divorce math. Retirement plans changed hard. Tell your wife you love her daily
406dn
Well-known member
- Joined
- Dec 12, 2019
- Messages
- 2,982
Without doubt, luck is part of the outcome. I have friends from work, who retired right into the teeth of the 2008 downturn.
That downturn caused me to decide on retiring @ 62 instead of 60. For a couple of decades, I was planning for a retirement at 60. Then that downturn put a serious hurt on my savings plan account with the company. I had to wrap my mind about working a couple more years.
Since I retired, now over 13 years ago, I have ridden a very friendly stock market. It could have been that months after retiring, the market eroded a big chunk of a nest egg.
BigHornRam
Well-known member
Is Stone's sheep addiction an acceptable reply?
BuzzH
Well-known member
Not really. If they're 60 years and good with money they should have had a wall full before the prices got stupid.
That math get a bit fuzzy too though/ if said person spent $10k on that hunt when they were 40, it has an opportunity cost of about $100k when they are 60.
*assuming the alternative was investing it in an S&P 500 index fund (which is way less cool).
*assuming the alternative was investing it in an S&P 500 index fund (which is way less cool).
Jack Ryan
Active member
No way. I worked for a living.
Similar threads
