6 ms·
The ongoing expenses of owning a house are still there, taxes, insurance, maintenance, electricity, garbage disposal, water, gas etc. if you can't cover these,
by boznz 2y ago
The ongoing expenses of owning a house are still there, taxes, insurance, maintenance, electricity, garbage disposal, water, gas etc. if you can't cover these, you're not debt free.
As you get over retirement age medical expenses could dwarf all these. you need to be more than debt-free you need to be debt-free and a good cashflow and emergency funds you can call on.
Just as you get to the top of the hill there is always another one to climb.
- anonymousiam 2y agoThose expenses are not "debt" in the traditional sense. I've got two paid-off houses, and my annual combined expenses for them come to something around $20k/year.