Quote:
Originally Posted by dickiej
Unless you're in your sixties....my wife and I are 67 and have no mortgage, no car payments and no credit card debt...we can live on $2500.00/ month for food, utilities, taxes and insurance....we sleep like babies.
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Understood. Remember though my point being the cash not used to purchase the home is still there just in an account appreciating at a faster rate than your mortgage rate. I am definitely not saying to spend the cash not used to purchase the house. Put it in an account that is NOT to be touched. You have to be very disciplined but even at 67 your life expectancy is a minimum of 10 plus years which for 100,000 at 5% would have a value of 162,000.00 and extra 62k is nothing to sneeze e
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