Quote:
Originally Posted by Bucketlist2012
Ya Greg, Planning is critical..
Take me for instance..I was forced into retirement 3 years ago due to two Strokes, A Brain lesion that turned into Seizures, and a major Heart infection and a Bad Heart valve.. I know, When I do things, I go BIG.
But I will be OK due to long term planning.. I had planned to work until I was at least 57 to 60, But I had to retire at 50.
But like you said, it is how much is going out..I keep my monthly nutt going out reasonable , so I will make it. My Investments will generate enough for me. And like you said, this is the slow time...When Inflation hits ? I know my income will double with lower risk, a.k.a. CD ladders, ect... So if I can make it now, I will make it then.
I have no problem taking a 30 year loan at 53. Also I have plenty of equity. And locking in at 3.75% is just incredible.
Lucky I was living consumer debt free and had my Taxable account 90% of my Investments. So when tragedy struck, i was as ready as I could be...
We have to plan for the unknown sometimes...
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Mike that's the key!
A mortgage of any kind is a no biggie IF you have adequate income.... Then it's smart to use cheap mortgage money! But you and I know that you have to have the assets etc to back it up.
What I'm saying is that people who DON'T have adequate assets and retirement income - looking at a mortgage for a bigger house etc -- and retirement is right around the corner. That's a plan alright -- a plan for disaster!
I have a mortgage on my main house and this new Sun Valley house -- but it's peanuts on a monthly basis compared to my income and assets - so I don't even think about it. But I certainly know that most aren't quiet as lucky as I have been. Retirement income is precious and ya just gotta plan for it is all.
