I Paid Off My Home Now I’m Panicked
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- เผยแพร่เมื่อ 11 มิ.ย. 2024
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450k in savings with your house paid off and you still panic? I'm thinking of retiring next Spring when I hit 59. I've got approx $500K in investment accounts (403B, Traditional IRA, Roth IRA). My part-time job in SC annually is about $50K. I've got rental property that adds about $40K to that income on my 1040. I have no debt. do you have any reason to panic ? Absolutely not!!!!!!!!!!!!!!!!
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
‘That guy’ is upset that he is out of $2,000 per year management fee.
Just make sure you don’t get an online boyfriend who’s an engineer on an oil rig and needs to buy a $2million part, Christine!😂
My husband passed away last year and that was one of the first things I did was pay off my house much to the dismay of the bank and my husband' CEO who wanted me to invest the money which didn't make sense to me nothing was going to pay as high a interest rate as the mortgage interest rate was. I am loving having no bills, everything including my car is paid off which is exactly what my husband wanted me to do. Anna In Ohio
I started with around $86,000 on my mortgage in January and am now down to $49,900. I'm expecting to pay it off by April of next year. 30yr mortgage paid in 18. I can finally see light at the end of the tunnel. We will be completely debt free.
Wow can’t believe they didn’t ask what her house cost. $450k cash + paid off house!? She could be a millionaire
Having a paid-for house and zero debt is liberating.
When a loved one passes and the survivor is panicked and in an emotional state, there are a lot of poor decisions they could make with the life insurance proceeds. Paying of the mortgage early is not one of them.
My husband and I both lost our high paying jobs within a year of each other. We lost our shirts in 2008 & 2010 stock market crashes. However, I followed the advice of a Christian Investment Advisor who told us to get as much out before the crashes. The only money we actually lost were our retirement plans that required us to be 65 + years of service. (about $35,000 each). We bought a fixer upper, 2 NEW cars because we were in our mid 50's at the time and wanted reliable vehicles (used car dealerships lie here like rugs), and threw the rest ($125K) into a family trust that so far Medicaid can't touch (my medical care is in the $100,000s per year) And I DON'T FEEL GUILTY I worked 60 hours per week for 32 years... This is exactly what the rich have been doing for generations.
300k saved, 150k invested, a paid off house, and some idiot telling her she is way behind. Most of us listening to this call aren’t in this good of shape lol
Her financial 'adviser' missed out on him 'investing' the $225k she paid off her house with and making 'commission' on that 'investment'.
This lady isn't "okay" she's very well off! Good for her
Regarding the caller saying "after talking to this advisor".
Jade: No one should be making you feel stupid.
Dave: Ma’am what’s the problem?
Paying off your mortgage is such a blessing! So many people are struggling to pay their rent right now with how inflation is and those in a house. She is so okay!
You are in an amazing position. You are a realtor and have no debt. Every realtor I know has debt up to their eye balls. Yeah, fire your finance guy.
I've never seen someone do so many things accidentally right. I'm so happy for her
Lady is a millionaire and thinks she's "in trouble". Gotta love America.