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Message
re: My retirement account is up 29.5% YTD - Why is Trump getting impeached???
Posted on 12/18/19 at 1:49 pm to Squidbaggins32
Posted on 12/18/19 at 1:49 pm to Squidbaggins32
I think we are in general agreement. Merry Christmas. 
1
Posted on 12/18/19 at 2:06 pm to Zach
you too. i also cringe a bit when i see donnie tweet about new high score on stocks, simply because it feels dangerous to me to associate yourself with a number you don't truly control. if the fed decides they want to use more "tight" language at any time between now and next november we can kiss these all time highs goodbye.
Posted on 12/18/19 at 2:26 pm to tarzana
quote:
Whatever. There's too much wealth, in too few hands. Wealth in America should be distributed fairly. It's the right, and moral thing to do.
Ok. I’ll bite. How would this distribution work?
Posted on 12/18/19 at 2:50 pm to MarinaTigerEsq
quote:
better ways
Sale your house and downsize to something smaller. Sale your house and rent. Rent out a bedroom. Have a B&B on your property. You are absolutely giving the bank your money. The banks certainly don't have this instrument because they are nice people. If you are like most people and financed your house to begin with, you are paying interest on your home twice.
quote:
This is about boomers short on retirement money- not boomers doing wealth/estate planning.
I wasn't making it about "short on retirement money", and was totally speaking of wealth and estate planning. I never stated I, or any other person, was short on cash. This debt bubble will bust, the longer it's blown, the harder it will bust. It will destroy wealth, and depending where you are in your work cycle, it will destroy wealth. The point of my original post is that 29.5% means nothing unless you are cashing out today.
Posted on 12/18/19 at 2:52 pm to MarinaTigerEsq
quote:
Why cripple the next generation economically by petulantly refusing to vote for a good president who is turning our economy around and making the stock market strong?
quote:
quote:
trump is trump. the economy is the economy. but the fed is the stock market.
Not disagreeing, but don’t discount the huge role expectations and foreign markets play.
Which is it?
Posted on 12/18/19 at 2:55 pm to tarzana
quote:
Whatever. There's too much wealth, in too few hands. Wealth in America should be distributed fairly. It's the right, and moral thing to do.
quote:
for unto whomsoever much is given, of him shall be much required
That means that if one is blessed with much wealth, it is expected that one will use this wealth to glorify God and benefit others. Not take it from them and give it to others.
Posted on 12/18/19 at 3:20 pm to whocares1
quote:
Why cripple the next generation economically by petulantly refusing to vote for a good president who is turning our economy around and making the stock market strong? quote: quote: trump is trump. the economy is the economy. but the fed is the stock market. Not disagreeing, but don’t discount the huge role expectations and foreign markets play. Which is it?
Obviously, it’s both- what do you think shapes expectations? Which policies make us more or less competitive on the global stage?
Posted on 12/18/19 at 3:29 pm to whocares1
quote:
2 big campaign promises have been broken. The expansion of debt is the biggest one. Your 29.5% up doesn't mean anything until you are ready to cash out. The massive debt bubble being blown will destroy us older folks, who don't have time to recover from a prolonged recession, which is likely to happen during or after his second term.
quote:
I wasn't making it about "short on retirement money", and was totally speaking of wealth and estate planning. I never stated I, or any other person, was short on cash
Okay, chief.
quote:
Sale your house and downsize to something smaller. Sale your house and rent. Rent out a bedroom. Have a B&B on your property. You are absolutely giving the bank your money. The banks certainly don't have this instrument because they are nice people. If you are like most people and financed your house to begin with, you are paying interest on your home twice.
A reverse mortgage is basically selling your house without having to move. Good luck with a boarder or building/managing a backyard b&b while elderly. Selling a house and renting also decreases wealth. No, the banks don’t do it to be nice, neither do the mortgagees. Like most things in capitalism it is a choice you can make if it’s beneficial for you.
This post was edited on 12/18/19 at 3:32 pm
Posted on 12/18/19 at 3:46 pm to MarinaTigerEsq
quote:
Selling a house and renting also decreases wealth.
Depending on what you're selling and what you're renting, it's most likely a better deal than a reverse mortgage.
quote:
A reverse mortgage is basically selling your house without having to move.
Not quite. A reverse mortgage is screwing your future generation, i.e. - the heirs to your estate.
Posted on 12/18/19 at 3:49 pm to whocares1
quote:
Not quite. A reverse mortgage is screwing your future generation, i.e. - the heirs to your estate.
The concern you previously cited was harm to older people- not their heirs
Posted on 12/18/19 at 4:00 pm to TDsngumbo
quote:
29.5% return YTD. 29.5%!!!
Pay your fair share
Posted on 12/18/19 at 4:20 pm to MarinaTigerEsq
You have a habit of cherry-picking information to try to further your argument. Recognizing that debt expansion will destroy a part of your portfolio once that bubble pops does not equate to not having enough money nor the desire to burden your heirs with debt.
Posted on 12/18/19 at 4:30 pm to whocares1
quote:
2 big campaign promises have been broken. The expansion of debt is the biggest one. Your 29.5% up doesn't mean anything until you are ready to cash out. The massive debt bubble being blown will destroy us older folks, who don't have time to recover from a prolonged recession
quote:
You have a habit of cherry-picking information to try to further your argument. Recognizing that debt expansion will destroy a part of your portfolio once that bubble pops does not equate to not having enough money nor the desire to burden your heirs with debt.
So, when you say “destroy us older folks” you mean “destroy a part of your portfolio.” You seem easy to destroy. Btw, reverse mortgage is nonrecourse. That means no burden on heirs, plus they get back any difference between the loan amount and the proceeds of the house sale.
quote:
I'll tell you why I'll vote against him next election, as of today.
This is an awfully strong reaction to losing part of your portfolio.
This post was edited on 12/18/19 at 4:33 pm
Posted on 12/18/19 at 4:34 pm to LSUconvert
quote:
Boomers had a fabulous economy and are eligible for reverse mortgages.
Probably the best of all time.
Historic Mortgage Rates
Between 1970 and 1990 the lowest mortgage rate was 7.23% in 1972 and the highest was 18.63% in 1981 with the average rate through the '80's staying above 10%. From 1990 till today the highest rate has been 10.67% in 1990 and has trended down ever since to a low in 2012 of 3.31%. Looking at these numbers I am pretty sure that the boomers did not have the best economy of all time. I couldn't imagine having a mortgage rate as high as a credit card.
Posted on 12/18/19 at 4:36 pm to tarzana
quote:
There's too much wealth, in too few hands. Wealth in America should be distributed fairly. It's the right, and moral thing to do.
Define "fair" then define exactly why you get to dictate what is fair to the rest of us.
Posted on 12/18/19 at 4:37 pm to Chemcorp158
quote:
Looking at these numbers I am pretty sure that the boomers did not have the best economy of all time. I couldn't imagine having a mortgage rate as high as a credit card.
When the purchase price equals two years salary or less, you can handle a 7% interest rate. Even better, when rent while you save for a down payment costs three digits a month, gas is 89 cents a gallon, a trip to the grocery is about half what it is now, and childcare/tuition is reasonable (all while making roughly the same wages as today’s workers) you can save up for dang near the whole house.
Posted on 12/19/19 at 6:20 am to MarinaTigerEsq
quote:
When the purchase price equals two years salary or less, you can handle a 7% interest rate.
Average median home price in 1975: $39,500
Average median salary 1975: $8,630
4.5 times salary
Average median home price in 2018: $226,800
Average median salary 2018: $61,858
3.6 times salary
Try again
Posted on 12/19/19 at 6:21 am to TDsngumbo
Bc OMB.
The left said from day one they would impeach him.
The left said from day one they would impeach him.
Posted on 12/19/19 at 6:25 am to Chemcorp158
Also most boomers were a single income household where that is very rare today.
Posted on 12/19/19 at 6:27 am to Chemcorp158
quote:
Average median home price in 2018: $226,800
Now take out the small areas skewing the numbers
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