Do you seriously think you can afford to retire? (refinance, positive, pay)
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Long island has a forced affordable housing programs.
When a builder puts up a development the town makes them build a certain amount of homes that go into a lottery system run by the towns.
The homes go for a fraction of their price and if you qualify you go into the lottery.
The builders just add the costs on to the other homes to cover the reduced prices and everyone else not only gets to pay over 500k for a home but they get to have a neighbor they subsidize that should not even be in a development of that caliber.
Its a damn shame the towns do this to those who work hard and strive to be financially succesful.
Last edited by mathjak107; 12-11-2012 at 04:32 PM..
If you are in good health and are passionate about your career why would you retire, ever? I do not see the point, other than to waste away your final years(decades) being bored and unfulfilled. I will retire when I am too sick (or senile) to work.
I've never even heard of anyone who is passionate about flipping burgers.
It doesn't make sense for anyone to pay half their income on housing.
Silly that you think it might.
BTW - are you a homeowner with a paid-off mortgage?
We do even though we weren't who you were asking that question!
It's a great feeling and extra cash back in our pockets! Can anyone say that
when one is renting instead of living in a home without a mortgage?
Just curious! What are the ages of members posting here on this topic?
I already mentioned mine in my previous post! It will give us a perspective
why these types of comments are being posted, because something just doesn't
sound right!
It doesn't make sense for anyone to pay half their income on housing.
Silly that you think it might.
BTW - are you a homeowner with a paid-off mortgage?
According to Mortgage News Daily, half of all low-income renters spend at least half their income on shelter. These people are not doing it because they like it, they are doing it because they do not have any better options. I can look ahead into the future and I know that I am on track to receive just enough Socuakl Security to be slightly over the poverty line - and renting a room would consume close to half of that income.
And no I am not a homeowner, nor do I have a paid-off mortgage.
No one with reasonable smarts would enter into a deal like that.
For several years I rented a tiny guest house; the owners lived on the property in a single-family house. The owners planned to move and put the property up for sale, asking $120K. I offered $40K for the guest house and 2,500 sf land.
The owners accepted but were unable to split the lot because the 2,500 parcel did not meet the minimum lot size standard. But $40K was the price upon which we agreed (from which one could infer that the single-family house plus the remaining 7,500 sf land were worth $80K), and I think it would be difficult to argue that $40K was an unreasonable value for it.
If you are in good health and are passionate about your career why would you retire, ever? I do not see the point, other than to waste away your final years(decades) being bored and unfulfilled. I will retire when I am too sick (or senile) to work.
I think it is great you are passionate about your career. Not everyone can maintain that level of passion over a 40 or 50 year span though. Not everyone has the health to work well past 65 either. And some folks will be discarded by their chosen employer and not get to make that choice at all! I think self employed people are more inclined to relish their "careers".
I work with a couple guys who (early) retired from their previous companies with pension buyouts and are 15 years into this companies employ. Both around 70, they have good health and plenty of money. But, I cannot help wondering why they find coming here more rewarding than any other activity of their choosing. Both spend more than their share of time complaining.
Last edited by shaker281; 12-11-2012 at 10:46 PM..
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