I forgot to mention it in my earlier post, but our High Desert home has a Concrete Tile roof, Stucco exterior walls all around, and exterior walls made with 2x6 Studs, not 2x4's, which allow Extra Thick Insulation Batts, insulating our walls from outside temperature extremes. Thus we have a low maintenance home which keeps us comfortable the year 'round! Taxes and Homeowners Insurance are no problem, with my generous Retirement Income from a 37-year Boeing Pension and Socialized Security. Hal
We own our home and it has been mortgage free for over 10 years now. It's too big for the 2 of us since the children are all grown and gone, but the thought of moving is unappealing for many reasons.
Nice Cottage, @Babs! Do you use that hammer in the kitchen for tenderizing your steaks? Cheers, Harold
I pay monthly rent for my one bedroom, one bath, living room, kitchenette apartment. Two of my homes were sold in the past five years.
People say to me; "You're lucky, Hal...having your home paid off!" Lucky? That's an insult! Luck had absolutely nothing to do with it... it's the result of PLANNING! When I began working in the Aerospace Industry, I took advantage of the matching amounts from my employer that went into my payroll savings, and added to it. Through my 36 years with McDonnell-Douglas and Boeing, I never once dipped into that increasing, interest-compounding fund, and upon retirement, I had a pile that required a moving van to take to my Bank! I paid a huge amount down on our retirement home, then paid off the 30-year mortgage in 12 years by doubling and tripling the Principal. I don't like car payments either, so I pay cash for 'em. When you live in a home and drive a car, it's unnatural to have to pay someone else for those priveleges! Nobody should have any stake in your home or car beside yourself! The new Millennial Generation should get jobs with Big Corporations who can afford to pay good salaries and offer good Savings Plans...I said SAVINGS PLANS, children! Then don't be a fool and buy a new car every few years...keep your car for a long time, then pay cash for a late-model low-mileage USED car. You can enjoy a financially secure retirement if you use your heads! Harry
I didn't plan. I really thought I would be rich by now. I was wrong. Not unhappy though. I really enjoy my life.
@Hal Pollner , you are lucky that you had the foresight to do all that and the wherewithal to follow through.
Hal... I'm the same as you, I never take out finance on a car...always pay cash upfront... I did it once many years ago..took 3 years to pay that car off..and I swore then, never again!!
When I was discharged from the US Army in 1962, I decided to establish credit by buying a car on the installment plan. I bought a brand new 1963 Chevrolet Impala Hardtop V8 and financed it on a 24-month plan. I quickly got tired of paying a Finance Company and paid it off in a year. Never again! Hal