A Picture is Worth 1,000 Words

[veni vidi vici]

Pay attention much? Residence not included in usual figure of "net worth" for an individual/household.

Also investing "conservatively" does not gain you much. By definition, "conservative" investing returns only a small amount over inflation.

The 3rd thing you got wrong, paying off a house mortgage is dumb personal finance. If you have good credit, mortgage interest rates are the lowest. You could actually mortgage your house deeply, invest intelligently, and get way way ahead. I did this for a short time before I got married.

Now, on a positive note for you, the insurance cost in high-risk areas can change this equation dramatically. If you have a mortgage, you -must- insure the house to the benefit of the mortgage holder. When insurance (and taxes) cost significantly, it is more difficult to make gains this way.

Thanks for the advice swamp critter , we paid off our mortgage in 15 years because of the high interest rates when we bought in 82 . We also laid down about 40% cash, contrary to your advice. We are in the position we are today because we thought outside the lemming box. Instead of your other swamp stump advice we invested what we would have payed each month in mortgage payments. Our shoes squish 7 figure liquid assets and the condo we bought after making a killing selling our property after 40 years ( location location location) was paid in cash.
Just a couple of ham and eggers with only a few years of college education between put 2 sons through college, one a attorney and the other a MS in construction management.
Yawn… the American dream works if you work it ! It warms my heart to see my first generation Mexican and Hispanic friends doing the same with their lives and families.
Don’t you have some wrong to go right?
Bwahahaha

 

[badlatitude]

 

[Steam Flyer]

Thanks for the advice swamp critter

View attachment 594098

Well that's nice.
I have a waterfront house and dock on ~3 acres, a bit less lawn than it looks like you have. Let me know if you think I should be impressed.

 

[Teener]

Suffice it to say, that to much of this group, the $5M bar for 1% is surprisingly low.

 

[badlatitude]

Woke mind virus breakthrough!​

@RealRonaldDeSantis confirms the discovery of the first documented case of infection by the woke mind virus. Sidekick Elon was heard to mutter, "We keep trying to kill the son of a bitch."

 

[Keith]

 

[Virgulino Ferreira]

From The Field: Brazil provides model welcome for Venezuelan migrants

An unprecedented number of Venezuelan refugees and migrants have entered northern Brazil since 2017; the way they have been welcomed and dealt with at a UN-run facility has been praised as a model for the region.

news.un.org

About 800,000 people have fled from Venezuela to Brazil. About 350,000 are staying here. And they keep coming.

Here in Brazil's three southernmost states, 2,000 miles from Venezuela, we have welcomed more than 40,000 relocated Venezuelan refugees from Operation Welcome, more than any other region in Brazil.

You may think many things about Bolsonaro and his ilk, and rightly so. But for some reason, he and his movement have never politicized or made a big deal of the refugees in Brazil, especially from Venezuela and Haiti. His government has created a large infrastructure and support system to receive Venezuelans at the border, in the Amazon, and settle them in the country.

To be clear: he essentially did what every other government before his would have done, or did, indeed, regardless of political leanings.

 

[Virgulino Ferreira]

I dunno about that last bit. IMHO the trumpalos are the most gullible, most sheep-like, placid, easily subjugated, people... born to be peasants, serfs, and slaves.

Precisely the people who have done, and will do again, the communist revolution.

It's the rest of us that they are trying to convince, strip rights from, and intimidate.

Exactly what the communists did to us, the bourgeoisie.

 

[Sol Rosenberg]

This thread needs music.

 

[hobie1616]

 

[Bristol-Cruiser]

Ain’t that hard, I have not had a mortgage payment since 1998 , work , save , invest conservatively and wait.

Wait for what exactly?

 

[veni vidi vici]

.

 

[Ishmael]

Wait for what exactly?

His mother to give him her house.

 

[Bus Driver]

His mother to give him her house.

Does that mean she'll let him up from the basement?

I envision him humming the theme from "The Jeffersons".

 

[Ishmael]

 

[Voyageur]

 

[Virgulino Ferreira]

 

[Sol Rosenberg]

Everyday in the city known as PA:

 

[Virgulino Ferreira]

 

[WhoaTed]

Everyday in the city known as PA:

Give them credit: no punches thrown, no physical contact, no guns drawn, no weapons. The only thing hurt were feelings, and they’ll both be over it in a day or three. This is the way it used to be; good for them.