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sdrealtor
ParticipantI never considered us enemies. Heated disagreements are OK in my book as long as you dont take them too personally. We are all entitled to our opinions and only the passage of time will tell what’s gonna happen.
ParticipantGood advice…buy when everyone says dont!
ParticipantMy parents taught me the same things and I agree it is a scary time to buy a home. 20% more is my best guess for a total of 30% off the absolute peak. Thats what I beleive…what happens is anyone’s guess. Life does get tougher but you sound well armed for what’s coming. Keep up the good work!
ParticipantPS
Sorry you took it that way it’s not my intention. I said stuff happens (sometimes it’s good and sometimes its bad). I dont think most people feel kids getting married and going to college are bad things. I encourage him to keep saving and thinks it’s commenadable. The more he can save at a young age the better because it does get tougher as your life gets more complex. However, as you know I can never resist pointing out a flaw in someones case to provide balance to any argument ….nor do I mind you doing the same to me.It’s a healthy exchange of ideas in my book. AN’s assumptions included 65 years of saving 1000 per month from age 21 which is flawed. He should be retired well before 86 and living off the earnings from his nest egg not adding to them beyond his investments return.
As for Boston_oc, he understand where clearly you do not. No indictment on you intended. Anyone that has ever been in corporate sales understands also. It is neither condescending nor unpleasant. It is the reality of being a top sales performer in an organization that must produce sustained growth to satisfy shareholders expecting a return on their investments. The more you give the more they want.
As for the thinly veiled advice, you are certainly guilty on that accord. You say there is no difference between renting and owning but then say you will buy when it makes sense. Clearly you consider it better to own or you would never buy because renting will always be cheaper. Of course, it’s emotional. I talk to many people everday who consider owning a home an important part of their life and not a finacial instrument as you. I am not a nomad and value safety, security and certainty. I know who my neighbors are and they know me. When I pass on, I expect to be remembered for the love and affection shared with friends and family not my bank account. Perhaps you come from a culture that values different things…many do. Doesnt make them wrong or right…just different.
ParticipantI think I know the street you are speaking of. If I’m correct it overlooks 15 and houses have always sat on this street for a very long time.
ParticipantAN,
I think it’s great that you save lots of money and I wish you the best in reaching. I do think it will be difficult to continue saving $12K a year until you are age 86 but maybe you have great genes. Maybe you’ll live to be 200 and your nest egg will make you the richest person on the planet. Personally, I plan on retiring by age 60 myself and am on track to do so in a home I own free and clear. My house is my families home and I do not view it as a financial instrument like so many others do. It is the place my children live and go to sleep each nite feeling safe and secure. It is home to a dog, 7 fish and 8 tadpoles (soon to be frogs). It is the cornerstone of my family and has value beyond financial terms to me. This is part of the reason why I do not equate a rental payment with what it costs me to live in a home. Someday you may understand this. I hate that housing prices are so high. I loose sleep for my clients and cannot wait until the market returns to sane place where hard working people can afford to life in nice homes.One little tidbit of advice as I sense you are still pretty young. Stuff happens to good people all the time, sometimes bad stuff, jobs change, economies change, kids get sick, kids go to to college, kids get married, people get disabled and even die. If you are saving alot now keep up the great work as it gets harder as you age and life gets more complex. Best Wishes SDR
ParticipantPS
Two quickies b4 bed…..I don’t scoff at people below a 37% tax bracket which is 28% federal and 9% state…that’s where the 37% comes in. Unless you own a home and have an interest/RE tax deduction you get there very quickly. A single person reaches the 25% federal bracket at 29K taxable income (BTW that’s new one on me, didnt realize there was a 25% bracket)A 45k job gets you there. A married couple w/ no kids is probably there at 70K gross income. These are not high incomes. I know admin assistants making 45K/year and entry level jobs for college grads at that level too.Last year you were in a 15% marginal tax bracket. Last year you owned a home that you paid interest and taxes on which most likely put you in the 15% marginal tax bracket. I suspect you will have a very different tax situation in 2006.
PS Hope you had a nice night out:)
ParticipantIt’s not me telling you it’s the IRS
ParticipantIn the 25% tax bracket it’s clearly worth more than 100 to 200 per month even if you really are in the 37% bracket whether you want to admit it or not.
ParticipantI take an Alright as an I was wrong. It is worth $1K/month to own my own home. For the record I could rent my home in a day and be cash flow positive about $500/month. I will own my home forever. In 30 years one of my children will live in a great home in a great location and will pay annual real estate taxes that will be a joke to them and the scorn of their friends. When I retire before I pass this house on to my heirs I will likely rent it out for a few years and generate 3 to 4K of monthly income while I live in small condo down by the beach.
Participantno time..no one by his last name has ever owned any other property per the online tax records I have quick access to.
ParticipantNice attempt to change the topic but just admit you were wrong…you said it was worth $100 to $200 and YOU WERE WRONG! What it is worth is very personal and specific to each person and not for you or I to decide. A simple I was wrong would suffice.
ParticipantLast time I checked you had to pay state taxes also….maybe you don’t but I do as does everyone I know. SO here it is in B&W….28% marginal tax bracket for federal+9% marginal tax bracket for state = 37%. GOT IT?
April 26, 2006 at 5:05 PM in reply to: Here’s a link to that SHAMELESS Century 21 commercial… #24623ParticipantIt’s meaningless…simply a large corporation trying to build a brand. It doesnt help me and I doubt it helps anyone.
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