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My wife tried to talk me out of writing the check to pay our house off.The Covid-19 related Democratic spending spree and ensuing inflation completely fucked anyone in the middle class that didn't own a home prior to 2020. The middle class folks that owned houses are probably going to hold on but likely won't have much to leave to their children like previous generations could.
It wasn’t just the democrats. Why you guys keep pretending only one part of a corrupt gov’t is the problem is beyond me. It’s foolish.The Covid-19 related Democratic spending spree and ensuing inflation completely fucked anyone in the middle class that didn't own a home prior to 2020. The middle class folks that owned houses are probably going to hold on but likely won't have much to leave to their children like previous generations could.
It wasn’t just the democrats. Why you guys keep pretending only one side is the problem is beyond me. It’s foolish.
Why is NOT paying off the house a good idea?My wife tried to talk me out of writing the check to pay our house off.
Now she understands.
Why is NOT paying off the house a good idea?
I thought it was the better choice
Ahhhh. Gotcha.If your mortgage is 6.99 it's a good idea.
If your mortgage rate is 2, 3, or 4% and you are making 5% on investments...then you are up 2 or 3 %...
Ahhhh. Gotcha.
Thanks for helping me understand.
Follow up question:
-As rates continue to drop on HYSA where are people able to “park cash” and earn a better yield without risking the money to pay off the house?
Ahhhh. Gotcha.
Thanks for helping me understand.
Follow up question:
-As rates continue to drop on HYSA where are people able to “park cash” and earn a better yield without risking the money to pay off the house?
Personally,S&P 500. Won't get mega rich, but you'll have steady growth. Any index fund generally beats inflation just not over the short term, can't stress about it every week.
Anything in the market can dip. I have some stuff I do myself, and I have a brokerage that manages a good chunk of my money in mutual funds. Also have the 401k.
Between all 3 I can probably leave my kids enough to buy a few guns when I tip over. Not a single man in my family has made it past 70 so I'm planning on working until I'm dead.
Your own personal risk tolerance is huge though. I can lose all my investments tomorrow and shrug my shoulders and pay my bills.
I know some people that will pay cash for new trucks and houses but are scared to death to let someone else possibly lose $5k.
This aligns with what I've been posting elsewhere over the past few months. Long & short of it, we have a population that likely measures in the millions (not exaggerating) that were "left behind" and are no longer participating in our economy because... well they just can't afford it.
That said, we've still got a very vocal group that will chime in and say that they should have taken school more seriously or studied a better major in college. After all, it worked for them 40-50 years ago so that work ethic/pull yourself up by your bootstraps must still hold merit right?
Of course, "they" don't see that their numbers are dwindling and the number of folks following that "advice" are stuck in limbo and struggling. It's absolutely terrible out there, wages are a joke on what's needed to live the "lavish" lifestyle of buying a small house and affording groceries at the same time. But of course "nobody wants to work anymore". That statement is thrown around like a gold bar but those playing "hot potato" ignore that the wages for the jobs they're complaining about still pay less than welfare... and ignore this as a problem/glass ceiling. Look at folks legitimately collecting disability from Social Security... they're limited to something like $2K no if's or but's about it right?
Not trying to rant but as a country/nation, I think it's fair to say we've got some work to do in these parts is all.
-LD
If you're looking for a wild ride- check into the Reddit thread '/latestagecapitalism' I don't necessarily agree with everything posted there but if nothing else, you'll get a good read on how the "other side" thinks/perceives things. Just a thought/suggestion.Jobs that paid 60k in 1996 pay 60k in 2024.
That is like 26k in 1996.
Don't know how mega corporations are going to
stop gouging.
Place is going Communist.
If you're looking for a wild ride- check into the Reddit thread '/latestagecapitalism' I don't necessarily agree with everything posted there but if nothing else, you'll get a good read on how the "other side" thinks/perceives things. Just a thought/suggestion.
-LD
Must be a regional thing. Always see it on sale here.What irritates me is that ice cream is getting really expensive.
Must be a regional thing. Always see it on sale here.
This aligns with what I've been posting elsewhere over the past few months. Long & short of it, we have a population that likely measures in the millions (not exaggerating) that were "left behind" and are no longer participating in our economy because... well they just can't afford it.
That said, we've still got a very vocal group that will chime in and say that they should have taken school more seriously or studied a better major in college. After all, it worked for them 40-50 years ago so that work ethic/pull yourself up by your bootstraps must still hold merit right?
Of course, "they" don't see that their numbers are dwindling and the number of folks following that "advice" are stuck in limbo and struggling. It's absolutely terrible out there, wages are a joke on what's needed to live the "lavish" lifestyle of buying a small house and affording groceries at the same time. But of course "nobody wants to work anymore". That statement is thrown around like a gold bar but those playing "hot potato" ignore that the wages for the jobs they're complaining about still pay less than welfare... and ignore this as a problem/glass ceiling. Look at folks legitimately collecting disability from Social Security... they're limited to something like $2K no if's or but's about it right?
Not trying to rant but as a country/nation, I think it's fair to say we've got some work to do in these parts is all.
-LD
Jobs that paid 60k in 1996 pay 60k in 2024.
That is like 26k in 1996.
Don't know how mega corporations are going to
stop gouging.
Place is going Communist.
Both parties love spending money that isn't theirs, 2020-2022 needs to be called out because the Democrats wasted biblical amounts of money and did so much damage to the American middle class.It wasn’t just the democrats. Why you guys keep pretending only one part of a corrupt gov’t is the problem is beyond me. It’s foolish.
Not the corporations fault entirely.
You are missing the true problem.
She wanted to keep the $$$ in the bank.Why is NOT paying off the house a good idea?
I thought it was the better choice
She wanted to keep the $$$ in the bank.