^ It was more a stream of consciousness which at the time I thought made a bit of sense (I was analogizing it to corporate sale-leasebacks which happen all the time), but you can see by the end of the post I realized that other options make a lot more sense.
^So you’re suggesting that a retiree on fixed income take out a loan against their house, thereby increasing their monthly expenses and decreasing their disposable income?
If they need the cash for a medical procedure and have no other assets to monetize, yes, that’s exactly what I’m suggesting.
reverse mortgage bros
when you start talking about expensive homes. renting is actually cheaper. at least thats what im getting on millionaire listing new york. great show btw.
haha that show is amazing/hilarious
Exactly. It’s an asset they can tap into if they need to.
Cj4g–what province are you, Ontario? I hear everyone in Toronto is a “millionaire” with housing prices there.
lp+p
youre thinking of Vancouver, BC but i read somewhere that more than 50% of the home buyers there are from China. china china - in Trump tone lol
I’m in the Boston province of Canada. I think it got officially absorbed shortly after Trump got elected.
Have you paid off your U of Phoenix loans yet?
I am very fortunate. I don’t have any debt, no mortgage on either of my homes, and never had student loans–I stuffed my investment accounts instead. I chose the right parents – I learned what wealth is from them.
I bet that’s right.
nothing wrong with that. I’d rather be “I got my wealth from my parents and live in a $30mm condo in 15CPW” than say "yeah I had to do it all by myself and used to live in a closet in a “pre-war” building with no elevator on the 11th floor with 4 roommates for 7 years but now I made it so now…i live in a 1200 sq ft apartment in NYC on Canal St that I got for $3mm.
No, there’s nothing wrong with it. I just want you to admit that you’re wealthy through absolutely no merit of your own.
You might as well be honest. You write like a fool, start a thread trying to figure out what it even means to be wealthy, have an opinion on the meaning of wealth that sounds like you got it from Rich Dad Poor Dad, and you expect us all to believe that despite all of this that you are actually already wealthy. Do you actually think anyone is buying it?
All true: I inherited my intelligence, temperament, discipline and good looks. My parents paid for my college education and got me started investing at a young age. I owe my good fortune entirely to my parents and I intend to pass on the same privilege to my own beautiful children. I can’t imagine anyone in this forum has a problem with that.
Canal St. is cool. For some reason I thought you lived in UWS (I mean I’d rather live along Canal).
#FTFY
ehh Canal is not for me…
huh? i do live in uws…why did you assume that i was the latter of the two from the above “story?” I don’t come out as the former - the 30mm condo inherited from parents type?
ohhhh ok haha I misread that word