|
Forums59
Topics1,039,272
Posts13,962,012
Members144,197
| |
Most Online39,925
Dec 30th, 2023
|
|
 House payments
#13034626
01/19/19 01:37 AM
|
Joined: May 2010
Posts: 3,067
bill oxner
OP
TFF Team Angler
|
|
OP
TFF Team Angler
Joined: May 2010
Posts: 3,067 |
How many of you have them? What would you do without house payments? People retire with not enough saved to have margin left for major bills. I have some buddies at work about to do just that - I told them I'd want at least $2M in the bank to retire at 60 right now, and I'd need closer to $5M for when I want to retire (25-30 years from now). Average $4k per month for bills and basic expenses, $15k per year for extras adds up to $1.8M. That leaves $200k for major medical issues, which doesn't go far now and will do even less down the road. Explain $4,000 per month without a house payment and no children at home.
![[Linked Image]](https://texasfishingforum.com/forums/pics/userpics/2019/03/full-18300-5063-edited_image_zpss7gdadxl.png) The birds and the guides follow mr out
|
|
|
Re: House payments
[Re: bill oxner]
#13034629
01/19/19 01:39 AM
|
Joined: Jan 2005
Posts: 119,880
TexDawg
Top Dawg
|
|
Top Dawg
Joined: Jan 2005
Posts: 119,880 |
|
|
|
Re: House payments
[Re: bill oxner]
#13034633
01/19/19 01:41 AM
|
Joined: Nov 2008
Posts: 25,752
elcoyote, esq.
TFF Guru
|
|
TFF Guru
Joined: Nov 2008
Posts: 25,752 |
If I didnt have payments on this house, I would buy another house.
Team wolfs I had to perform. It took a minute to get it all in my mouth and another five to swallow it all.
|
|
|
Re: House payments
[Re: bill oxner]
#13034637
01/19/19 01:46 AM
|
Joined: Jun 2005
Posts: 12,958
DanDaBald
TFF Guru
|
|
TFF Guru
Joined: Jun 2005
Posts: 12,958 |
No more house payment, but I pay $1,100 per month to have an apartment in McKinney TX.
And I'm very seldom in it.
 NEVER FORGET 9/11/2001
|
|
|
Re: House payments
[Re: bill oxner]
#13034639
01/19/19 01:46 AM
|
Joined: Sep 2018
Posts: 2,484
Flyfisherman
Mama's Boy
|
|
Mama's Boy
Joined: Sep 2018
Posts: 2,484 |
I do not have a house payment. I also do not have a house.
|
|
|
Re: House payments
[Re: bill oxner]
#13034648
01/19/19 01:51 AM
|
Joined: Feb 2014
Posts: 8,612
Smurfs
TFF Celebrity
|
|
TFF Celebrity
Joined: Feb 2014
Posts: 8,612 |
Retire debt free or dont retire. With no house payment, live like no one else.
|
|
|
Re: House payments
[Re: bill oxner]
#13034660
01/19/19 01:57 AM
|
Joined: Oct 2006
Posts: 95,516
Bigbob_FTW
Big Sprocket Bob
|
|
Big Sprocket Bob
Joined: Oct 2006
Posts: 95,516 |
![[Linked Image]](https://texasfishingforum.com/forums/pics/usergals/2017/07/full-20284-169975-biyl8lail.jpg) ![[Linked Image]](https://texasfishingforum.com/forums/pics/usergals/2017/07/full-20284-169974-image_preview.jpg) FJB
|
|
|
Re: House payments
[Re: bill oxner]
#13034672
01/19/19 02:07 AM
|
Joined: May 2002
Posts: 5,733
JCG57
TFF Celebrity
|
|
TFF Celebrity
Joined: May 2002
Posts: 5,733 |
House payments are for the petite bourgeoisie.
|
|
|
Re: House payments
[Re: bill oxner]
#13034678
01/19/19 02:15 AM
|
Joined: Jan 2003
Posts: 83,279
Pilothawk
Pumpkin Head
|
|
Pumpkin Head
Joined: Jan 2003
Posts: 83,279 |
I own the house...kinda.
I have to pay the county $2200 per year to keep it....so, who really owns it?
KANSAS JAYHAWK BASKETBALL - Where tradition comes from ![[Linked Image]](http://www.funstuff.ku.edu/ui/images/buddyicons/1943jayhawk.gif) 2008 NATIONAL BASKETBALL CHAMPIONS-ORANGE BOWL CHAMPIONS 2008 52 Conf Champs /5 Nat'l Champs
|
|
|
Re: House payments
[Re: DanDaBald]
#13034680
01/19/19 02:18 AM
|
Joined: Jan 2005
Posts: 119,880
TexDawg
Top Dawg
|
|
Top Dawg
Joined: Jan 2005
Posts: 119,880 |
No more house payment, but I pay $1,100 per month to have an apartment in McKinney TX.
And I'm very seldom in it. Mind if i use it occasionally? 
|
|
|
Re: House payments
[Re: bill oxner]
#13034688
01/19/19 02:25 AM
|
Joined: Nov 2002
Posts: 54,463
RayBob
Super Freak
|
|
Super Freak
Joined: Nov 2002
Posts: 54,463 |
I live in a van down by the river.
Advice? Wise men don't need it. Fools won't heed it.
|
|
|
Re: House payments
[Re: bill oxner]
#13034694
01/19/19 02:30 AM
|
Joined: Apr 2011
Posts: 7,765
kjwolvy
TFF Celebrity
|
|
TFF Celebrity
Joined: Apr 2011
Posts: 7,765 |
Govt shutdown may keep us from making ours.
|
|
|
Re: House payments
[Re: bill oxner]
#13034695
01/19/19 02:31 AM
|
Joined: Sep 2008
Posts: 5,190
fishslime
TFF Celebrity
|
|
TFF Celebrity
Joined: Sep 2008
Posts: 5,190 |
If you live in the same house for 30 years then it is paid off. When I retired and made a tidy sum off my home, I decided I did not want to put a bunch of money into another house when we moved. The money would just sit there and be of no benefit to me. Therefore, I put enough down so as not to have to purchase mortgage insurance, left the rest invested, and by refinancing a couple of times have a very low payment at 3.9% interest (a decent apt. would cost me 3 times as much as my house payment). I can better that 3.9% rate in a diversified portfolio. After 18 years, I have amassed well over $200,000 in equity in my current house, and what I would have paid outright is still making money for me. I am not a believer that you have to have a house paid for when you retire.
Other than that, I agree one should definitely retire debt-free and don't take on new debts.
|
|
|
Re: House payments
[Re: bill oxner]
#13034700
01/19/19 02:36 AM
|
Joined: Jul 2006
Posts: 49,425
RATZ
Activity Coordinator
|
|
Activity Coordinator
Joined: Jul 2006
Posts: 49,425 |
got one and if I didn't it would go to savings
|
|
|
Re: House payments
[Re: bill oxner]
#13034707
01/19/19 02:39 AM
|
Joined: Jan 2008
Posts: 13,596
Fishspanker
TFF Guru
|
|
TFF Guru
Joined: Jan 2008
Posts: 13,596 |
Married 3 times so I have a house payment. If I didn't I would probably spend it. Saving a bunch now anyways.
The Sheep who only fears the Wolf is eaten by the Shepherd.
|
|
Moderated by banker-always fishing, chickenman, Derek 🐝, Duck_Hunter, Fish Killer, J-2, Jacob, Jons3825, JustWingem, Nocona Brian, Toon-Troller, Uncle Zeek, Weekender1
|
![[Linked Image]](https://content.sportslogos.net/logos/53/77/thumbs/7716431981.gif)
![[Linked Image]](http://klamathfc.org/images/patriot-guard-logo.png){kind=logo}
![[Linked Image]](http://logonoid.com/images/thumbs/texas-longhorns-logo.png){kind=logo}