Quote:
Originally Posted by Vegas69
I send out a monthly newsletter to about 3100 people for my real estate business. I compared the affordability of a home at 4% interest vs. 5%. Not a big difference at only $113 a month for a median priced home here in Las Vegas. Seemingly, not a big difference. Unless you invest that $113 in the market for 30 years at an average of 10% return. Then that small savings per month turns into $250,000. Sound like a good chance for a free and clear home at retirement which is a major game changer for most Americans.
It's the small choices over time that either make us or break us. If you have to start with putting pennies away, do it. The key is to start the disciplines and keep the sail trimmed in the right direction.
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I think that's what kills savings for most Americans -- they don't "see" themselves saving any "real" money --- they just don't think that $50 or $100 a month is going to get them anywhere. What's more amazing to me is people that are clearly able to save $500 or $1,000 or more -- and they don't do it.
The funny part is - the more you've made during your lifetime/career... and the more you've spent on stuff.... the more you're probably going to like to live on in retirement. Yet they take no action whatsoever.
Most FEAR investing... yet what they should fear is their life after work stops if they haven't saved/invested for it.