[quote=flu]
there is a point in life where you want to arbitrage a low interest loan with higher returns higher risk investment and take additional risk to build wealth
there is another point in life where you want to protect what you’ve built
People get screwed when their goals get mixed up. Those decisions I make irrespective of what the market is actually doing. Why take on extra risk if you don’t need to?
I use to regret paying off my loans. I don’t anymore, because my cash and investment portfolio has basically returned back to the same level last November and went over the previous level end of December. And now all my properties in SD are free and clear. So technically I don’t need to work. Then again, current company is paying me a lot and I get a senior management position so why not. if I stayed at home, I’d get fat and and lazy. Whereas I like going to the free company gym.
I’m not a proponent for doom and gloom. I am not a proponent of pie and the sky euphoria. I’ve learned taking profits and doing something with it constructively is the best thing for me because it’s self-governing to prevent an unexpected disaster from wiping out what you gained . [/quote]
Totally spot on.
I’m at that point too flu where I’d rather just have everything paid off and not worry about strategies to capture that last penny.
With regard to saving, it is very tricky to determine how much to invest and how much to spend. Last thing I want to do is get hit by a truck tomorrow and not have enjoyed any of the money I worked so hard to get. Figure out what makes you happy and pursue that…after you’ve stashed away enough to be set in retirement should you be lucky to make it that far.
I used to calculate how much I’d need to have to spend as I do now well into my 90s. As I’ve grown older and watched others grow old, I realized chances are very good that if I should be fortunate enough to make it even to my 80s, I’ll probably be so feeble I’ll just be watching TV and surfing the net. So my financial needs will be much lower.
Sure I want to leave money to my kids and I don’t see many ways that won’t happen, but I also want to enjoy life while I’m here.
It would be so much easier if I knew when I was gonna die. Wait scratch that. That would be a terrible thing.
