U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: Mortgage or Investments
No mortgage pay 350k for house 32 52.46%
Mortgage with money in investments 29 47.54%
Voters: 61. You may not vote on this poll

Reply Start New Thread
 
Old Yesterday, 01:37 PM
 
29,866 posts, read 34,936,573 times
Reputation: 11788

Advertisements

Quote:
Originally Posted by mathjak107 View Post
In effect for those with decent pensions , the paycheck never ended ...they would be in a different category then those who have to take a pile of money and create their own pensionized income that stands a good chance of lasting as long as they do in good and bad years
My exact point. We do exist and there are many of us. It is also part of the reason why 90k in fixed annual income wouldn’t be enough to fund our long term goals and objectives.
Reply With Quote Quick reply to this message

 
Old Yesterday, 01:46 PM
 
888 posts, read 189,329 times
Reputation: 1413
Quote:
Originally Posted by mathjak107 View Post
In effect for those with decent pensions , the paycheck never ended ...they would be in a different category then those who have to take a pile of money and create their own pensionized income that stands a good chance of lasting as long as they do in good and bad years
Even if I didn't have a pension I would still have a paid off house.
I treated my "house equity/mortgage" as a separate investment vehicle and built up equity over the years. Each home purchase had more put down (from previous sale) along with a smaller mortgage.
Always stayed within the 2x salary-home price range and bought cosmetic fixers for under market value and sold them for market or above market. Not a flipper though because we did live in them for 10+ years plus making sure we were in good school districts.

Long term investment strategies is not limited to the stock market.
Reply With Quote Quick reply to this message
 
Old Yesterday, 01:51 PM
 
72,010 posts, read 72,043,164 times
Reputation: 49565
If I had a house I would have paid it off on schedule not channeling more in then I had to at these rates ..so if the house was paid off it was paid off ... on the other hand I would prefer not to pay cash at these low rates if Id was to buy something at this point ....
Reply With Quote Quick reply to this message
 
Old Yesterday, 02:32 PM
 
6,340 posts, read 4,774,534 times
Reputation: 12998
So for some people,
Investing means the stock market.
The stock market is too risky and this is a bad time to put money in.
Other people don't invest and some of them are smart. I read it in a magazine.
If you have a pension, then that is enough and there is no reason to want more.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:18 PM
 
29,866 posts, read 34,936,573 times
Reputation: 11788
Quote:
Originally Posted by jrkliny View Post
So for some people,
Investing means the stock market.
The stock market is too risky and this is a bad time to put money in.
Other people don't invest and some of them are smart. I read it in a magazine.
If you have a pension, then that is enough and there is no reason to want more.
Noooooo. Having a pension is just one leg. Investments are of major importance to many of us. Bigly important.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:01 PM
 
Location: SoCal
13,412 posts, read 6,411,220 times
Reputation: 10002
It must be big pension, tiny pensions like mine are just not enough.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:13 PM
 
72,010 posts, read 72,043,164 times
Reputation: 49565
my wife gets 19k in pension , but living nyc that represents 13% of our total budget so everything is relative to the life one wants to live and where

Last edited by mathjak107; Yesterday at 04:22 PM..
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:14 PM
 
29,866 posts, read 34,936,573 times
Reputation: 11788
Quote:
Originally Posted by NewbieHere View Post
It must be big pension, tiny pensions like mine are just not enough.
It is all relative but we gave no complaints. Remember there are two of us. Also one house is paid for and the other has a not large mortgage. Cars for now paid off and no other debt.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:20 PM
 
Location: SoCal
13,412 posts, read 6,411,220 times
Reputation: 10002
Quote:
Originally Posted by TuborgP View Post
It is all relative but we gave no complaints. Remember there are two of us. Also one house is paid for and the other has a not large mortgage. Cars for now paid off and no other debt.
I’m comparing mine to my brother’s, he stayed there 25 years and already taking his pension, I believe he gets $5000 a month, that’s like $60,000 a year. I get about $12,000 a year. I was offered the job with his company, but I turned it down years ago. But comparing to my sister’s I came out ahead, she gets like $500 a month at 65, so about $6,000 a year.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:22 PM
 
29,866 posts, read 34,936,573 times
Reputation: 11788
Quote:
Originally Posted by mathjak107 View Post
my wife gets 19k in pension , but living nyc that represents 13% of our total budget we can spend if we wanted to
One of the nice things for us is we get four checks a month on three different days
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top