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Old 07-18-2012, 03:19 PM   #43
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I am definitely in this camp. My mother passed away at 46 years old. my first wife passed away at 39 years old leaving behind kids that were 8, 10 and 12. I am 45 now and do not expect to have a long life due to a congenital heart defect. My late wife and mom never did things they wanted to do because the were saving money for later, only pay cash, etc. Later never came. I have a short amount of time to create memories with my kids and instill values that are important to me. If I am broke when I die but my kids are productive, responsible adults and we've enjoyed life together, I will consider myself a wealthy man. I am not judging the choices of others, just sharing how things look through my glasses.
He who dies with the most toys wins...
or
He who dies with the most debt wins ??
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Old 07-18-2012, 03:44 PM   #44
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Quote:
Originally Posted by DBeauchamp

He who dies with the most toys wins...
or
He who dies with the most debt wins ??
I guess I should clarify that I am mostly debt averse. In our case the mortgage, cars and RV. Everything else is cash. I could/should save and invest more, but I choose to enjoy life now even if I work all of my life. My late wife fought cancer for 4.5 years. The debt I incurred to care for her was staggering. I never want to be that shackled again. We could qualify for a nice Class A but choose to stay keep our travel trailer because it makes sense and gives us more fun money. As a previous poster said, balance.
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Old 07-18-2012, 04:53 PM   #45
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I sorry if some posters take things personal put the topic was paying cash for a 400k Rv. I have read post after post in different spots on the forem (I only pay cash) and downing the people that finance. Its not to be (nosy) it was trying to compare apples to apples. My personal opinion I would rather have a payed for home that no one can take away and somewhere to fall back on and finance my Rv.
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Old 07-18-2012, 05:20 PM   #46
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He who dies with the most toys wins...
or
He who dies with the most debt wins ??

Hawaiian proverb: He who dies with the most toys, still dies....

So, whether you use your own money to finance your life, or like to use OPM, ya better have fun!
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Old 07-18-2012, 05:38 PM   #47
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Benny....you have answered the question! If you can consistently "year-in-and-year out" make more from your investments...after tax...than you pay your bank to borrow money.....you have the magic formula for owning an RV.

However....I would still suggest that for anyone with liquidity and this level of investing skills & sophisticated knowledge of today's markets....collapse some investments...pay cash for the RV. Why waste your time over a couple of % points?

Negotiate a favorable margin account with your broker? You should be able to negotiate an interest rate much lower than the one you currently have on the RV and the margin account will allow you to leverage at least $1 for $2. You could then "leverage" your "leverage" and trade Options or Futures for around $.05 on the leveraged dollars.

Now we're talking serious money....that Newell or Prevost is only a couple of trades away!
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Old 07-18-2012, 05:46 PM   #48
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Just heard today that Mark Zukerburg (founder of Facebook) and multibillionaire financed his $6 million house for an interest only 1.06% 30 year adjustable rate mortgage.
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Old 07-18-2012, 06:02 PM   #49
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Originally Posted by Lindsay Richards
Just heard today that Mark Zukerburg (founder of Facebook) and multibillionaire financed his $6 million house for an interest only 1.06% 30 year adjustable rate mortgage.
They probably thought he was good for it and since they pay us .002 on our money they're doing good even at that rate.
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Old 07-18-2012, 06:13 PM   #50
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Mark Zukerburg is worth about 14 billion. Or 14,000 Millions. He could buy 2,333 homes at $6 Million each. It is absolutely mind boggling that he would be borrowing to buy one...
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Old 07-18-2012, 07:46 PM   #51
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It is absolutely mind boggling that he would be borrowing to buy one...
Less than inflation and stupid not to. It is like they are paying him to live there. I'd mortgage my wife for 1.06%. No, she is a depreciating accent.
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Old 07-18-2012, 08:10 PM   #52
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I've discovered owning a motor home is a lot like owning a boat. I just keep pouring money into it.
We used to have a boat, boat well, morage space and yacht club membership.
Now we just have the motorhome, much less expensive!
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Old 07-18-2012, 08:20 PM   #53
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Mark Zukerburg is worth about 14 billion. Or 14,000 Millions. He could buy 2,333 homes at $6 Million each. It is absolutely mind boggling that he would be borrowing to buy one...
He needed the tax credit on the interest!
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Old 07-18-2012, 08:30 PM   #54
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He needed the tax credit on the interest!
I suspect he has more than two homes? Just curious, in US interest on first two homes is income tax deductible?? (In Canada none are deductible...)
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Old 07-18-2012, 08:39 PM   #55
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I suspect he has more than two homes? Just curious, in US interest on first two homes is income tax deductible?? (In Canada none are deductible...)
Yes you can deduct interest on your primary and secondary home. Another thing Canada does correctly!
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Old 07-18-2012, 08:40 PM   #56
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Pay with cash that you have sitting in a .05% savings account or borrow it at 6.5%. Boy. I'd have to give that some thought.
No way this day and time you pay a coach mortgage at 6.5 percent. If you have that high a rate please do your research 3 percent with can down a good credit is available. It is what you can afford, life is so short enjoy the road!
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