[QUOTE=killer69;393212]
Quote:
Originally Posted by solarguy09
Congrats.  Knowing the numbers is so important..
Also I never include my Home Equity. I do count it in my NET worth, but not for future living expenses..
That way I am excluding approx 300K of non liquid assets from my projection.
QUOTE]
I read an interesting quote went something like this
Customer to Advisor. My current house is worth 300,000(say)fully paid for. I only actually calculate it at 100,000 in value" why is that? " because I will have to live somewhere and if I figure when I retire I will down size and spend 200k then that leaves me 100k in assets to work with not the full 300k.
Something I never really thought of. In that context anyway. dDoesn't really flow with what is happening here but may add some light. |
Excellent, just being more conservative...When my wife and I bought our REO at the bottom, we went with the larger home with more Value...
That leaves us with the downsizing option too.. My plan is to stay here or move to an equivalent home someday.. Or just downsize later in life..
Similar to you...Maybe the house is 350K, and the sole survivor, her or me, can use that money any way needed.. 200k home, or just assisted living..
I plan to die with money invested... That way i am never spending to the edge of my comfort range...
