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View Poll Results: Mortgage or Investments
No mortgage pay 350k for house 30 54.55%
Mortgage with money in investments 25 45.45%
Voters: 55. You may not vote on this poll

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Old 07-23-2019, 10:38 AM
 
Location: SoCal
13,397 posts, read 6,404,610 times
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Quote:
Originally Posted by Martha Anne View Post
What do you mean the real gain in home equity?
Home equity went up, my equity went up 1.5 times.
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Old 07-23-2019, 10:40 AM
 
Location: SoCal
13,397 posts, read 6,404,610 times
Reputation: 9980
Quote:
Originally Posted by Martha Anne View Post
I do come from a background where my parents invested quite a bit (Not me, as I was single and a modestly paid public service worker, my choice with no regrets): Here is the deal: in the past 6 years, you are saying, you invested and made enough to pay off your mortgage. How much money was that? How much did you gain, after capital gains taxes, fees, etc? Do you mind citing a number? In the past 6 years, since 2013?
I don’t discuss my financial numbers online. It would be crass to ask me to respond to your question.
Just for 2013 alone, the market went up 30%, my mortgage rate is 3.5%.
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Old 07-23-2019, 10:41 AM
 
2,121 posts, read 3,431,981 times
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Quote:
Originally Posted by NewbieHere View Post
Home equity went up, my equity went up 1.5 times.
You were not specific. My home equity has gone up a lot in 6 years due to the prices in homes. But you had been talking about making a profit in investments. So, what are you talking about when you say your equity went up (in your home): Due to investments, the topic we are discussing? or something else? the price increase in homes these days?
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Old 07-23-2019, 10:43 AM
 
Location: SoCal
13,397 posts, read 6,404,610 times
Reputation: 9980
Quote:
Originally Posted by Martha Anne View Post
You were not specific. My home equity has gone up a lot in 6 years due to the prices in homes. But you had been talking about making a profit in investments. So, what are you talking about when you say your equity went up (in your home): Due to investments, the topic we are discussing? or something else? the price increase in homes these days?
There are two parts that went up. My home equity went up and my investment accounts went up. Just the home equity alone went up 1.5 times.
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Old 07-23-2019, 10:44 AM
 
26,081 posts, read 33,089,518 times
Reputation: 32382
I will retire with a mortgage, but it will be paid off less than 4 years later. I bought my house 21 years ago with the intention of this being my forever home. I cannot imagine deciding to go through the massive effort of packing up and moving, possibly to somewhere that I donít like as much. But Iíve moved around a lot when I was younger so it would take an awful big event to get me to move again. Good neighbors, solid house, lots of family in the area. Iíve personally done a lot of work on this house and I feel like it is part of me. We are happy together.

Starting over with a mortgage at my age would scare me to death, frankly. I play things pretty safe I guess.
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Old 07-23-2019, 10:56 AM
 
Location: New Mexico
6,649 posts, read 3,704,259 times
Reputation: 12516
I paid enough to have a low monthly mortgage -- considerably less than rent would be for a 2-bedroom apartment -- and then let the rest stay in my investment accounts. It's working. No problema.
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Old 07-23-2019, 11:03 AM
 
1,139 posts, read 793,942 times
Reputation: 2140
Quote:
Originally Posted by jrkliny View Post
How about this option? Instead of not having a mortgage, you have a low cost mortgage for $350K and an additional $450K in hand.
How about having no mortgage and that much saved? I still stand by the method of making sure I owe nobody anything in retirement, and my structure is secure. I didn’t realize it was considered old school.
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Old 07-23-2019, 11:06 AM
 
71,991 posts, read 72,020,102 times
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Quote:
Originally Posted by Sharpydove View Post
How about having no mortgage and that much saved?
Without all your specifics no one can say ...it is about your entire financial picture and what your draw rate , assets and allocation will be as well as whether legacy money for heirs is important...

Could I live on a paid off house and 450k ? Nope , I would never attempt it where I live
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Old 07-23-2019, 11:10 AM
 
1,139 posts, read 793,942 times
Reputation: 2140
Quote:
Originally Posted by mathjak107 View Post
Without all your specifics no one can say ...it is about your entire financial picture and what your draw rate , assets and allocation will be as well as whether legacy money for heirs is important...

Could I live on a paid off house and 450k ? Nope , I would never attempt it where I live
Thatís a number someone else threw out there. I didnít say it was my magic number.
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Old 07-23-2019, 11:14 AM
 
71,991 posts, read 72,020,102 times
Reputation: 49560
Well no one can say what someone should have invested without the entire picture ...there are only general rules for being to home equity top heavy ....
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