Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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Life is short. I would do what makes us the MOST happy. You can't take it with you.
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#32
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#33
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+1. You’ll sleep better at night without debt. Good luck in making your choice. |
#34
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Yes, I did misstate the mortgage deduction, should have said I cannot deduct it any longer (interest rate is too low, a very good thing!!), but I still stand by my initial advice, talk to your financial advisor. There have been several good points and suggestions made here. Now go to to your advisor with these, and discuss what would be best for your. Be sure to consider future medical costs, taxes, etc.
Good luck with your quest.
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Pennsylvania, for 60+ years, most recently, Allentown, now TV. |
#35
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I'd buy a three bedroom cottage home for around $200,000.
About Our Homes | The Villages
__________________
The Beatlemaniacs of The Villages meet every Friday 10:00am at the O'Dell Recreation Center. "I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend." - Thomas Jefferson to William Hamilton, April 22, 1800. |
#36
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Get ready to protect your nest egg cause if you ever revealed your situation in person your Dance card would be full! Your gonna be great either way you go. Get ready to have a nice life again after the pain you've been thru or caused. A new fresh start. A new chapter, a fresh canvas. Don't screw it up trying to flash $$$ cause nobody down here cares. Good Luck.
Go with Modest, it's so much easier. We are gonna bump it up a notch in a couple of years but only a little bit. No Stressing over $$ Monies $$ |
#37
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Here's an interesting perspective on mortgages:
Why you shouldn’t pay off your mortgage sooner: a loan officer’s perspective.
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A great attitude is a choice, not a disposition |
#38
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#39
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I too agree with a "debt-free" lifestyle, and, to a large extent, is how I've lived my life as well. But just another point of view to consider.
__________________
A great attitude is a choice, not a disposition |
#40
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If I can use someone else's money at a low interest rate (1% auto loans/3% home loans/etc.), while my own investments are compounding at three to five times the amount of the loan interest...it would be dumb not to do so. Given that most large corporations often borrow money, even when they have the cash on hand...should be a clue. Opportunity Costs(poke here) Quote:
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#41
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Similar situation
I was in a similar situatuion 6 years ago when I retired. I have a frederal pension, will not get Social security, Have some IRA money socked away but had cash available from the sale of my house. I chose a designer home with a 2 and 1/2 car garage and a small mortgage. I can afford the small mortgage on my pension with ease and did not make the mistake of downsizing too much. Biggest issue here is storage because of no basements. Too many folks choose a small garage and the move again to a larger house in 3 years. Area is key here as well. Make sure you know where you want to live first. Try renting for 3 to 6 months. Get the lay of the land and see what your expenses will be in retirement so you can make the right house decision for you
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#42
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Go back to work and save some more.
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#43
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Yes. There is debt and there is debt. That's why I have always taken advantage of "zero" finance deals on large appliances even though I always had the money to pay off in full. For us there was never the danger that we would blow the money. But not so for everyone. I don't think we've paid any interest (other than mortgage) in 30 or 40 years.
__________________
A great attitude is a choice, not a disposition |
#44
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Keep all the money and just rent. Landlord will have to make all repairs and with a one year lease you can change residences annually if you like. Rent shouldn't be more than $1000-1500 a month, but no amenity fee or property taxes
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#45
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It makes no sense to use the cash saved, to purchase additional items that are often not a 'need,' just a 'want'...instead of investing it. It's analogous to using excessive tax withholding as a 'forced' savings account...for those that don't trust themselves not to spend it during the year. Sure, it's nice to get that refund from last years taxes, but a person has to realize that you're basically giving the government a tax free loan...for the entire year. Whereas, people could have been using that additional money from each paycheck, investing it and they would have more money for the entire year...than your tax refund alone amounts to. "Compounding interest"...is a wonderful thing. |
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