Neither. Expenses are relative and that's a lot to some people and little to others. (Also, for context, tor this couple, they live in Southern California, which is far more expensive than many other locations.) But, we do see two things. 1. People do tend to adjust spending to what they have. Not always, as some people consistently overspend from which is what gets people into trouble in retirement. 2. Most people underestimate what they need/want to spend going into retirement. We plan to do a video soon on why that is and how to best plan accurately for expenses. Thanks for watching!
Property Tax can be a major culprit. Same with large car notes. Even being mortgage free doesn’t unhinge you from the tax man …. Which is just a reminder you are NEVER free from that “housing” cost
Both could be paid off with cash/liquid investments. The car loan will be paid off by retirement, as mentioned in the video. Otherwise, there could be more thought about paying it off early. The mortgage could also be paid but the low fixed rate and manageable payment steered them toward not paying it off early. That's a personal decision, which we discuss in this video. th-cam.com/video/082CvYmNlKU/w-d-xo.htmlsi=-ozRe5qjA39g0VNO. Thanks for watching!
Downsize from a 1 million house in California to what? What could one buy for less than 1 million in CA?
$8500-$9000 a month with no mortgage? Do they have a cocaine or gambling addiction?
Neither. Expenses are relative and that's a lot to some people and little to others. (Also, for context, tor this couple, they live in Southern California, which is far more expensive than many other locations.) But, we do see two things. 1. People do tend to adjust spending to what they have. Not always, as some people consistently overspend from which is what gets people into trouble in retirement. 2. Most people underestimate what they need/want to spend going into retirement. We plan to do a video soon on why that is and how to best plan accurately for expenses. Thanks for watching!
Property Tax can be a major culprit. Same with large car notes. Even being mortgage free doesn’t unhinge you from the tax man …. Which is just a reminder you are NEVER free from that “housing” cost
Hey, do you need any help for your video editing or thumbnails, if so we can help
Going into retirement with a mortgage and car loan is bad. They seem like hyper consumers
Depends. In the example he showing the couples mortgage is $148k at 2.25%. They can easily make 5% so why early.
@@bobby350z True, that’s a great rate.
Both could be paid off with cash/liquid investments. The car loan will be paid off by retirement, as mentioned in the video. Otherwise, there could be more thought about paying it off early. The mortgage could also be paid but the low fixed rate and manageable payment steered them toward not paying it off early. That's a personal decision, which we discuss in this video. th-cam.com/video/082CvYmNlKU/w-d-xo.htmlsi=-ozRe5qjA39g0VNO. Thanks for watching!