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what you will find if you follow survey after survey on retirement forums is what let folks retire isn't the value of their home most of the time. it is the fact their home has cut costs for them to the level they need less income to retire.
whether a home is 200k or 2 million means little if you consume it and most retirees do . not as many relocate at retirement as you think ,
most who do have already relocated and the house is their cost cutter and their budget is already been in place .
since i am no longer the aggressive investor i was now that i am retiring we may pay cash for a co-op next year .
long term it may be a better deal cutting expenses and giving up the income on that money then continuing to rent since as rents go up the break even point for buying is getting shorter and shorter.
no doubt buying will cost us more when you figure the income we are giving up on that 300k but we are hoping buying holds the level of cost down.
i know on one of the co-ops we owned locally we bought it in 1987 and maintenance was 475 a month and we were renting it for 850. we still had a mortgage to pay so with depreciation it was at best break even .
today my ex wife is living in it and maintaince is 600. but rent is 1700 if one was to rent the apartment .
so while it cost us more a month when we bought than renting it , today is a very different story.
How would unskilled workers apply themselves? If you max out your position's pay scale, then what?
If you max out your position, you might become ready for a better job or you could try some of the following:
Learn on the job
Get additional education/training
Change jobs
Get a second job
Learn through the apprenticeship procedure
Get a partner
Solve some of your personal problems
Look for help through social agencies, churches, or elsewhere
Get out of the current rut - Look for a fresh start
Spend less time on the internet and you will have time to accomplish one or more of the above plus find additional ways to succeed; i.e., apply yourself.
and by that I mean liquid assets worth a million. Say for example someone lives in an average suburban home(say 300-400k), has a decent car and a steady income and he has a net worth of one million dollars.
TO your question,
I never has been a big deal. It is only a big deal to those that want or don't have what others have.
Being a billionaire isn't a big deal. It is just a lot of money.
A big deal is when my daughter first learned to ride a bike. A big deal is when someone helps another cross the street. A big deal is when one person who doesn't even care about the cost of a cup of coffee, buys one for the person behind them in line.
Having $1 million isn't the “wow factor” that it used to. In fact, there are over 5,000,000 millionaires in the United States. Becoming a millionaire status WAS a sign of financial independence, in the past, perhaps. Today, not so much. To be reasonably comfortable in your golden years, a million dollars is only the threshold. That's why it's laughable that people buy into the "tax the rich" rhetoric and support making it that much harder for the middle class to achieve.
Having a million socked away means you're in the top few percent of people in one of the richest countries in the world. Sure, there's always going to be somebody with more, but money, like everything else in life, has diminishing marginal utility. Some people here really need to count their blessings.
Take Warren Buffett has the smallest salary (Income - $100,000) of any of the Fortune 500 CEOs. Warren tells his managers to decline all speech requests without checking with him. One of the richest men but lives a simple life. He uses tax avoidance in his business but is esteemed by the left for giving to charities. In other words he too wants to control where his money goes instead of giving it to the government for government squander and waste it. Yet he thinks other should give up pay more.
Having a million socked away means you're in the top few percent of people in one of the richest countries in the world. Sure, there's always going to be somebody with more, but money, like everything else in life, has diminishing marginal utility. Some people here really need to count their blessings.
Their blessings? Do you think God handed them the money? They worked for and was smart with their money.
People should use the blessing they have called a mind and do the same, instead they become their own worst enemy and fight it because they buy the rhetoric. It's like a child that stomps his feet in anger and doing the opposite of what is good for him. They spend haphazardly, use debt in bad ways. "stay away from credit cards." Paying interest on credit cards not only suggests that you are living beyond your means, but it also means that you are losing money. That certainly doesn't help you build wealth.
Having $1 million isn't the “wow factor” that it used to. In fact, there are over 5,000,000 millionaires in the United States. Becoming a millionaire status WAS a sign of financial independence, in the past, perhaps. Today, not so much. To be reasonably comfortable in your golden years, a million dollars is only the threshold. That's why it's laughable that people buy into the "tax the rich" rhetoric and support making it that much harder for the middle class to achieve.
The number of HH in the US with assets of a million or more excluding primary residence were 9.6 million in 2013
Your repeated tax the rich banter ad nauseam is foolish. People who make more should pay more end of story
The number of HH in the US with assets of a million or more excluding primary residence were 9.6 million in 2013
Your repeated tax the rich banter ad nauseam is foolish. People who make more should pay more end of story
LOL, this reminds me of a liberal I know, complaining and crying the blues that he will never get to retire. Educated and paid well. It never occurred to him that by giving his money away he will never be able retire or if he does he will be in poverty himself. I hope to see him working in his 70's and I'll be sure to remind him how he supported giving his money away and ask how work went today while laughing.
LOL, this reminds me of a liberal I know, complaining and crying the blues that he will never get to retire. Educated and paid well. It never occurred to him that by giving his money away he will never be able retire or if he does he will be in poverty himself. I hope to see him working in his 70's and I'll be sure to remind him how he supported giving his money away and ask how work went today while laughing.
What does your response have to do with my post?
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