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Old 07-20-2012, 05:22 PM   #85
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$400,000.00 at 6% for 180 months equal $607,577.40

Not for me.

Dick
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Old 07-20-2012, 06:41 PM   #86
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It seems there is a lot that don't believe in financing a Rv because it's a depreciating asset. Now explain the logic selling their S&B house to pay for it.
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Old 07-20-2012, 07:05 PM   #87
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Originally Posted by RustyJC View Post
A much greater percentage of my retirement portfolio will be tied up in the stock market than I really wanted since, as you point out, dividend-paying stocks are one of the few income-generating sources left.

Rusty
Our IRA, and other investments are managed by the largest brokerage firm in the country. Over the last couple of years we have exceeded 6.5% growth (going back a few years we did a lot better than that).

Our MH interest rate is 4.5% at the Credit Union

Altho we could pay cash for the MH WHY??


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Old 07-20-2012, 07:28 PM   #88
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Originally Posted by DBeauchamp
Please explain, If you have a S&B house worth $400K (appreciating asset) and a $400K RV (depreciating asset) and a $300K loan at the bank. What difference does it make that the loan is tied to the RV as opposed to the S&B?
The House is a "necessity".

The RV is a "luxury".

I'm curious....how many of you would council your children to finance a luxury lifestyle?
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Old 07-20-2012, 07:41 PM   #89
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It seems there is a lot that don't believe in financing a Rv because it's a depreciating asset. Now explain the logic selling their S&B house to pay for it.
What? You want logic???
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Old 07-20-2012, 07:56 PM   #90
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I'm curious....how many of you would council your children to finance a luxury lifestyle?
I would never council my children to finance anything they could not afford but IMO that is unrelated to whether or not I would council them to finance a coach.

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Old 07-20-2012, 09:01 PM   #91
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Quote:
Originally Posted by Theberrys
$400,000.00 at 6% for 180 months equal $607,577.40

Not for me.

Dick
And if you started out with 124,000 12 years ago and now it was worth 372,00 would that be ok?
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Old 07-20-2012, 09:22 PM   #92
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I would never council my children to finance anything they could not afford but IMO that is unrelated to whether or not I would council them to finance a coach.

Rick
I agree. Finance a luxury lifestyle? Can you actually do that? If so, I would not advise it. Financing a MH? Why not? Ooops. Oh, yeah, my kids are doing just fine, thanks.
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Old 07-21-2012, 03:25 PM   #93
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We didn't purchase a $400K anything. But, we did look around and find a very nice $27K trailer that we talked down by about $10K. We were looking at maybe using it for work and didn't want to be holding a loan to pay for a depreciating asset. Because I had the case, I did.

For now, if the economy tanks (again) and the job goes away and I can't finish paying off the house, we have a roof over our head and/or I have someplace to live if I have to go chasing another project.

For me, it just made more sense.
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Old 07-22-2012, 05:02 PM   #94
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We pay cash for everything. I do not want to be in debt. Life has a different feeling for me when I owe no one. We are fans of Dave Ramsey who says, "The borrower is slave to the lender." I know there are those of you out there who manage your debt fine and probably won't get into financial trouble, but I just breathe easier knowing what I have I own. What we have may not be the best or most expensive, but it's ours.
I go along with this. But respect those with different views on debt. I've seen the damage debt can do to people and families. I've never seen anything truly negative happen to those who saved up and bought w/cash.
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Old 07-22-2012, 05:15 PM   #95
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I think the older you get, the more you tend to want to have no debt. Not true universally, but it is surely a trend. Probably due to not wanting to be a burden on your children or remaining spouse if sick. Having no debt is great for piece of mind.
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Old 07-22-2012, 07:59 PM   #96
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It didn't exactly make sense for me to pay $1600 a month in rent & try to save up money to buy my house outright rather than to get a loan and pay about $1100 per month on my mortgage!
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Old 07-22-2012, 08:06 PM   #97
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It didn't exactly make sense for me to pay $1600 a month in rent & try to save up money to buy my house outright rather than to get a loan and pay about $1100 per month on my mortgage!
It does now for those folks in Florida who lost 40% of the value of their house and are now $200,000 underwater on their house they bought with 3% down. Lots of very stupid decisions made before the housing bubble burst of 2006.
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Old 07-22-2012, 08:15 PM   #98
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I go along with this. But respect those with different views on debt. I've seen the damage debt can do to people and families. I've never seen anything truly negative happen to those who saved up and bought w/cash.
Very well said.

With freedom comes choice and with choice comes responsibility...
and consequences.

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