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> it's completely possible to amass the same amount of equity in a different asset class and use the proceeds from that asset to pay your rent. It sounds like

> it's completely possible to amass the same amount of equity in a different asset class and use the proceeds from that asset to pay your rent. It sounds like a Fat FIRE concept that is out of reach of most people. Or at least something the average person would only be able to access later in life. > You do get less freedoms as a renter though. But you also aren't responsible for all the things that can break. And natural disasters. I have heard of many renters painting their apartments.

maerF0x0 4y ago
> It sounds like a Fat FIRE concept that is out of reach of most people. Or at least something the average person would only be able to access later in life. It's not that far off the amount sunk into a equity+interest view of a mortgage ... eg a $500K house would be about $1M after interest. A $1M portfolio would provide about $2500-3300 a month in passive inflation proof income[1]. A quick rule of thumb is a place should rent annually for about 1/19th - 1/20th the purchase price which conveniently is about ~2200 a month... So overall if someone could afford to buy, they likely could also afford to choose a portfolio and a reasonable rent. [1]: we'll have to wait and see how true this remains through the kind of inflation we're seeing lately though... > I have heard of many renters painting their apartments. Yes, but they likely either were renting a place that had terrible paint (doing their land lord a favor) or had to return it to the original colors at the end of the lease, else face "repair" costs