Do you own your home? Do you wish you did?

@Aaron_W - You can easily buy a vehicle from the other side, but it will have to be imported if you want to use it from your primary residence. It jsut costs money. I know lots of guys that buy used in the 'states and import to Canada. it just costs money.
 
I think there are certain times , situations that make renting a good choice . Those that might not be sure where they want to live or can’t find the right house . The housing market might be high where there looking and might wait until it loosens up .Being able to move about the country I guess is another, I’m sure there are many more . Myself I have too many hobbies and such moving only once was a pain . Never knowing if the landlord would sell and have to move once the lease is up . Maybe as I get older and can’t take care of a house a condo will be necessary but for now owning a home is what I’ll be doing . By the way I did a search of what % you need to make to double your $$$ in 5 years and it was around 14% , just a quick look on the Fidelity website and their BlackRock Equity Index which is close to the S&P 500 both have 13+% for the life of the fund if you don’t mind the ups and downs because there are plenty of downs
 
That's not as much as I thought it would be but now that I searched I remember hearing about the rule of 72. 72/5 = 14.4%
 
I would love to know the secret to doubling my investments every 5-7 years. I guess that's like playing the lottery...risk reward. I know my 401k is slow and steady, but not making me rich by any stretch of the imagination.
I will say, I live in Colorado and in the last 10 years property values have sky rocketed, to the point it's like California here. If you don't already own a home, you never will (except for people very well off) lower middle class and below are in a tight spot, left with renting crazy high costs ($1800 to $2500 easily.) I bought my house in 96 and it has increased 500k in that time, most of it in the last 10 years. So, depending on where you live and what your age/risk comfort you can afford, home investment maybe a must. I couldn't imagine retiring with a mortgage.
 
My .02

I’ll always need a place to live.

Without getting political. Governments have been known to seize retirement accounts. The stock market can go up or it can go down.

Paying off the mortgage is the safest bet. Maybe not the smartest move. I’m paying off my mortgage and put money into my 401k for tax purposes.


Sent from my iPhone using Tapatalk
 
Watchwatch said:
My .02

I’ll always need a place to live.

Without getting political. Governments have been known to seize retirement accounts. The stock market can go up or it can go down.

Paying off the mortgage is the safest bet. Maybe not the smartest move. I’m paying off my mortgage and put money into my 401k for tax purposes.


Sent from my iPhone using Tapatalk
Click to expand...



I have not seen them seize retirement accounts, I have seen them use property forfeiture to seize property, and cash on hand.
 
Of you Are government employee and screwed up they may take pension.

Sent from my SM-G781V using Tapatalk
 
Real estate has been a good investment for me BUT it is a PIA to manage! I've always done all my own maintenance. Once the payments end the property rent is nice but as it ages it needs more maintenance and as I age so do I.
Long term the stock market is good but few private investors seem to do really well. In many ways the stocks are like rental properties. As inflation raises valuations the companies typically raise dividends. In 8 years the price has typically doubled and so has the dividend. But your original cost is static. The dividends you get will look double what it had been but that's partly because of inflation. It is rare for inflation to exceed the increasing price of most equities. Therefore the dividend even after taking into account the looses due to inflation gets better with time. Compounding is very powerful.
 
You must log in or register to reply here.
Back
Top