If he has to bitch that seniors have more than he does, he can't be in a good place, physically, mentally or socially.
Seniors and the generation spending gap
- Thread starter SLM
- Start date
In some ways he's got it too good. He should take the platinum spoon out of his mouth and quit crying. There's folks in 3rd world countries who don't spend their days on the golf course. Anyway I don't want to f**K up a holiday weekend thinking about him.
You know he's really desperate when he stutters in type, lol.
He suffers from first world problems JLM.
Good Gawd no! While horribly off topic, I do find this thread wildly entertaining. One can only imagine how upset I've made you all. Please, carry on.
Well you would need your imagination to do so, and gawd knows you do have an imagination, lolz.
I see you're still very afraid of being banned.
Looks like JLM got some bad advice.
If you want to have a mortgage in retirement, be prepared to make some big sacrifices | Financial Post
If you want to have a mortgage in retirement, be prepared to make some big sacrifices | Financial Post
What advice did I get?
Not only that, he's a f**king idiot & his understanding of finances is zero.-
Not that it's any of his business but I just renewed my mortgage yesterday at 2.49% That allows me to keep my own money invested at 6-10%.All depends upon your income streams. I have 3 at present - 1 from working. You pay for the other 2.
Gawd I do love tax payers. Though I probably pay more tax than you do.
You are the one who is entertaining so obviously you just like to sit back and regurgitate your own garbage. Whose gear shift is getting greased today? -
Pretty generalized article. Also seems to be aimed at people in high tax bracket. A smart senior might downsize or perhaps move an extended family in. They also don't take into account that s$it happens, like divorce, illness education for kids or grandkids. In reality it doesn't matter if there is zero equity when you croak because you can't take it with you anyway.
Too bad not all posters have your wisdom! -
I've heard it said "a smart man doesn't spend his own money".
It's not a particularly well written (or researched) article. There are simply too many (like thousands) of situations and variations. If you are depending on a job at age 70 to pay a mortgage then you are on shaky ground. If you mortgage is over 50% of your house value and you depend on a job to pay it you are sitting on a dynamite keg. Another type of mortgage I'd be very leery about is the reverse mortgage that are available to people in their 60s- you are better off and safer to pick up beer bottles. The danger is most people don't realize how fast interest can mount up. I was mortgage free by age 50 and it was a good feeling, but then we decided to move a couple of times and that ain't cheap. I'd still rather be where I am today than where I was when mortgage free. My wife was in almost constant agony with bursitis. That is a "monkey" you don't want on your back. When I was mortgage free we lived in a $100,000 house, now we live in a $325,000 house. So it's all relative.