Quote:
Originally Posted by Chuck1674
You have 400k cash and 5k a month pension
Get a huge house with a mortgage.
Medium house with smaller mortgage.
Patio villa cash and 200 k in the bank.
What are your ideas? Do the kids and grandkids visit as much as u thought. That factors into it.
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The same thought comes up with all the do you have enough to retire guides.
All you need to know is when you will die. The rate of inflation till you die. The exact return on your investments till you die. The cost of your death. AND SO MANY MORE UNKNOWNS. Realize our government-how many trust the government-says they desire a 2% rate of inflation. At 2% rate of inflation in 36 years you will need two dollars to buy what a dollar buys today. History, the government has never held a 2% rate of inflation. Chance of them doing it this time?
Since, Nixon our currency is not backed by GOLD or SILVER, it is backed by the full faith and credit of the United States.
It can't happen here. It won't happen here. People in Germany in the 1930s said the same. More recently, people in Greece, Venezuela, Brazil are, have said it can't happen here.
MY VIEW, you are always better off having more than you need to pay your cost of living. A mortgage. Should our dollar get trashed, you can and will pay your mortgage with far less valuable money. INSANITY-they cannot hold age against your for a mortgage. A person 90 years old can get a 30 year mortgage.
He/she will be only 120 when they pay off the mortgage.
In the end. What YOU should do it is not an easy question but it is a question that YOU should make with some professional advice.
From US, perhaps like the old Ann Landers column. If we direct you to make the wrong choice for YOU, we will say OOPS sorry about that-NO SKIN IN YOUR GAME.