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re: Everyone seems to be talking about a recession.
Posted on 8/15/19 at 3:37 am to cave canem
Posted on 8/15/19 at 3:37 am to cave canem
quote:
I like utilities when they are down and DUK may look good if it drops a bit more.
If you can, break this down to me in layman terms. My wife and I have gone from 50k to 500k in a couple years thanks to promotions and bonuses. It's currently doing little for us, mostly from paralysis by analysis. Too many options and not enough knowledge.
I live in Bentonville Ar, which is one of the hottest real estate markets in the country. People say it's about 15 years behind Austin Texas. I feel like this is worth mentioning for people here to give proper advice.
ETA
Only debt is 120k left on our house. Pay off or not? Sorry if these are stupid questions, but it just kind of escalated quicker than I prepared for it.
This post was edited on 8/15/19 at 3:45 am
Posted on 8/15/19 at 5:06 am to Ham Solo
quote:
Only debt is 120k left on our house. Pay off or not?
Easiest free guaranteed returns on earth are not paying interest, the piece of mind is simply a bonus.
Lots of folks argue against it because the THINK they will do better in the market but that is not a certain thing IMHO.
Posted on 8/15/19 at 5:55 am to Ham Solo
quote:All these decisions boil down to numbers and risk. But even given identical situations various folks will come to different conclusions. E.g., cavecanem suggests paying off your mortgage. Dave Ramsey would suggest the same. But interest deductible mortgage notes at 3.5% are cheap money. It all depends on what you'd do with the $120K.
Only debt is 120k left on our house. Pay off or not?
Find a financial planner, go over things. Given facts, you'll see your way to a conclusion.
Posted on 8/15/19 at 7:50 am to Ham Solo
quote:
Only debt is 120k left on our house. Pay off or not?
I say pay it off. No debt peace of mind is great and you could put your old monthly mortgage payments into some sort of savings/investing device.
You'll also probably be more determined to make up that $120,000 (although was never "lost") which should create positive future spending/saving/investing habits.
Either way sounds like you're in good shape. Congrats!
Posted on 8/15/19 at 11:20 am to Ham Solo
quote:
My wife and I have gone from 50k to 500k in a couple years thanks to promotions and bonuses
Damn. Did y'all go from resident docs to private practice?
This economy has had a long, hot run and a slowdown is going to happen (it may be happening already).
A recession, i.e. economic contraction, is a possibility, and it's more of a concern now than it has in the last 9-10 years. I'd say chances of a quarter of negative GDP sometime in next 3 years is 50/50.
But slowdowns can hurt too.
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