|
Ups and downs of house values should not be a factor. Gains and losses are on paper only until the property is actually sold. But one should consider the "reverse mortgage" concept although. If the house is paid off, one can, if necessary, tap into the value, assured of a place to live until either death or move to an assisted living facility. Retiring with a mortgage is unwise if it can be avoided.
I wonder, with all the emphasis on "leverage" and the vagaries of real estate and commodities, how many people will find themselves at 60 or so, unable to retire and God forbid their health goes south. I am very conservative with money and for me it has paid off in the long run. Retired early for 6.5 years now and haven't touched a nickel of investment money. Think it was easy? Instant gratification ain't for the long haul!!
__________________
Bob S. former owner of a 1984 silver 944
|