4 ms·

Why do you say that you're never going to be able to buy a house, but maybe will end up retiring before you're 40? Sounds like, in lieu of anything else, you s

by rewgs 5y ago

Why do you say that you're never going to be able to buy a house, but maybe will end up retiring before you're 40? Sounds like, in lieu of anything else, you should try and buy a rental property or two. Start slow, eventually FIRE, that whole thing. That said, yeah, the same sentence could then be applied but with time: "why retire when I have nothing to do with my time?" I'm 30 and still don't have a great answer for either, whether it be time or money.

spideymans 5y ago
>Why do you say that you're never going to be able to buy a house, but maybe will end up retiring before you're 40? It's not necessarily about being able to afford a house, but rather about whether home ownership is the best option financially when compared to other options. 20 years ago, homes were so cheap that I'd be willing to buy a home just for the sake of being a homeowner and enjoying the security that entailed. However, nowadays with sky high housing prices, home ownership would need to provide concrete financial benefits when compared to other investments. Admittedly I'd likely be more motivated to look into buying a house if I wanted children. >Sounds like, in lieu of anything else, you should try and buy a rental property or two. Start slow, eventually FIRE, that whole thing. Yes this is the path I am most likely to go down. Buying some rental properties and retiring relatively young is an attractive option.
- vel0city 5y ago
  In a market with rapidly escalating home prices, assuming you're interested in living in the same area for a long time (>5 years probably, depends) buying a house can be a good bit of a hedge against real estate inflation. Home prices going up (usually) drive up apartment prices. My mortgage won't change, maintenance costs won't change, property taxes might. But if my property taxes go up, you can bet rent prices are going to go up by at least that much, probably more. How many apartment complexes rent 5 year leases?
  - fb13 5y ago
    Parent means the BTC returns cover that no problem. > Ownership would need to provide concrete financial benefits when compared to other investment And > retiring before my 40th birthday. Are quite the Freudian slips
TchoBeer 5y ago
I had a long conversation with my brother, who never wanted to retire ever, and his reason was basically "what would I even do with all the time I have". My inability to answer that haunts me every day. I still don't know.
- ikt 5y ago
  Travel? Hobbies?
  - TchoBeer 5y ago
    I don't think both of those combined would fill my time from when I'm 40 until I die. I'd have to find something that really occupies me (like maybe I start a big open source project or something) but at that point I'm just finding work that I don't get paid for.
brianxp 5y ago
In my country people living with the minimum wage will never be able to go "FIRE" or even retire. They earn about 10 usd a day or about 260 a month have to commute for about 2 hours each way and have one day off each two weeks. Even I a young tech worker know I will never get a pension and I will never own a "proper house" the closest I will get to that will be more like a caged house in Taiwan.

by rewgs 5y ago

spideymans 5y ago

>Why do you say that you're never going to be able to buy a house, but maybe will end up retiring before you're 40? It's not necessarily about being able to afford a house, but rather about whether home ownership is the best option financially when compared to other options. 20 years ago, homes were so cheap that I'd be willing to buy a home just for the sake of being a homeowner and enjoying the security that entailed. However, nowadays with sky high housing prices, home ownership would need to provide concrete financial benefits when compared to other investments. Admittedly I'd likely be more motivated to look into buying a house if I wanted children. >Sounds like, in lieu of anything else, you should try and buy a rental property or two. Start slow, eventually FIRE, that whole thing. Yes this is the path I am most likely to go down. Buying some rental properties and retiring relatively young is an attractive option.

vel0city 5y ago
In a market with rapidly escalating home prices, assuming you're interested in living in the same area for a long time (>5 years probably, depends) buying a house can be a good bit of a hedge against real estate inflation. Home prices going up (usually) drive up apartment prices. My mortgage won't change, maintenance costs won't change, property taxes might. But if my property taxes go up, you can bet rent prices are going to go up by at least that much, probably more. How many apartment complexes rent 5 year leases?
- fb13 5y ago
  Parent means the BTC returns cover that no problem. > Ownership would need to provide concrete financial benefits when compared to other investment And > retiring before my 40th birthday. Are quite the Freudian slips

TchoBeer 5y ago

I had a long conversation with my brother, who never wanted to retire ever, and his reason was basically "what would I even do with all the time I have". My inability to answer that haunts me every day. I still don't know.

ikt 5y ago
Travel? Hobbies?
- TchoBeer 5y ago
  I don't think both of those combined would fill my time from when I'm 40 until I die. I'd have to find something that really occupies me (like maybe I start a big open source project or something) but at that point I'm just finding work that I don't get paid for.

brianxp 5y ago

In my country people living with the minimum wage will never be able to go "FIRE" or even retire. They earn about 10 usd a day or about 260 a month have to commute for about 2 hours each way and have one day off each two weeks. Even I a young tech worker know I will never get a pension and I will never own a "proper house" the closest I will get to that will be more like a caged house in Taiwan.