Money Talk, Bad credit & being on the road

And I did.

Red herring; you made a blanket statement that you can't buy a house with cash, which I called you on and showed two different scenarios to do it with. Realistically. Today. Eminently doable.

You drove right by it in your rush to double down on mistaken position it can't be done.

The numbers are there. It's a story problem. You can figure it out.

 

No, actually neither of you have. You both continue to fail to address the cost of living while you are saving. Can you do that? Or do we ignore that cost? Or is it free?

Paying rent? Or living for free? Living for free exactly how?

Answers???

 

you really need to get in touch with a financial advisor. I do hope for your sake you realize how much extra you are paying on interest. to be honest here, neither one of us is winning this argument. your credit card company is. all of them if you have more than one. and I hope you find a better job if you thought 10k was average 10 years ago. I REALLY DO WISH THE BEST FOR YOU, NO DRIVER SHOULD BE BRAINWASHED LIKE THAT.

 

So have you bought your house yet?

I pay 2.39% fixed on my $80,000 house, which I mortgaged for 90% so 72,000. If I put it on the market today I could sell it fast for probably 100,000 maybe 110,000. I invest my extra cash for an average of 7-8% per year. For paying this horrible mortgage I get in exchange my own place to live in. Which I will pay in full at renewal. How am I doing it wrong, again?

 

Thats a policy for entrer

thats a policy for enterprise nationwide

 

Usually in a normal Market a person can’t save money fast enough as prices are always going up. In a hot market even worse. Save 15 k a year and the house you want went up 16k in that same time. I understand exactly what you’re saying. As do most people in the real world. Always exceptions of course.In a normal market saving while paying rent is hard enough. To try to save the whole amount is self defeating. I’ve never put down more than 5% on the 3 homes Ive owned.Currently have a 3.375% mortgage. House has doubled in value in 6 years.If inflation edges up Just a little more it will become a disadvantage to pay off early. Though it would be nice no need to. Extra money can be put to much better uses.Inflation rates Interest rates and the trend in housing prices all play a part. Not to mention personal goals and future plans.

 

By the way, I talked to my financial advisor at the beginning of August and sold a whole bunch of stocks I had made significant double digit gains on. Against his advice. Turns out it was the right move. But what do I know. I am considering moving it into gold.

 

GOKIDDOGO..... get in touch with a financial adviser.

 

Excellent post rideandrepair.

To put it in simpler terms. When you're growing up and getting to the bar and doing your drinking and ####ing. It's a lot nicer to have your own place.

 

then why are you still paying interest on a mortgage?