Things I Wish I'd Known At 20(teejayvanslyke.com) |
Things I Wish I'd Known At 20(teejayvanslyke.com) |
The only one I would really take issue with is "Don't Buy a House". If you get a good deal on a property that is good for you and your family, buying always makes more sense, especially at current interest rates. You can fix your monthly cost for year after year instead of paying ever increasing amounts of rent.
I would not make these investments in somebody else's home if I rented.
I will say though, that it makes sense for owners to defend their position, since they're already owners. And, as a renter, I'm likely to do the same.
Regardless, I appreciate both perspectives!
http://www.businessinsider.com/r-at-big-ticket-dinners-a-blu...
And, even if interest rates do rise dramatically over the next 10-20 years, inflation will act as a counterweight against the argument of buying now.
Instead of rationalizing rent, I think you'd do better to downsize and try to get a house you can afford. That way you have a strong asset you can work with if your $150,000 in 401K money doesn't amount to squat in your 70s.
Not trying to be a jerk, but America has been sold a lie with the 401K (watch "The Retirement Gamble" on PBS), There's going to be a major crisis in 30 years. In my view, there's no real answer other than trying to amass a shit ton of assets and hoping technology relieves some of the burden rather than compounding it. Ok, now I'm getting off topic... :-)
Anyway, yours is a smart piece, and I'm sure you'll do fine.
I invested in a Mirra chair in 2006, transitioned to a stand up desk in 2014 and I wholeheartedly recommend doing either or both if your finances and ability permit.
35.1 Gratitude is not a feeling but an action.
Can I go back in time 30 years now?