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> I can always say screw it and move to the cheapest part of the country as I am getting closer to retirement age. reply Something similar to this is why I pre
by paulcole 2y ago
> I can always say screw it and move to the cheapest part of the country as I am getting closer to retirement age.
reply
Something similar to this is why I prefer renting and why anyone who unshakeably believes renting is “throwing money away” is immediately suspicious to me.
I’ve always tried to rent the cheapest (some would say crappiest) apartment in an area that I’ve really wanted to live. I’ve done quite well financially and in terms of lifestyle as a result. I would’ve done better financially by buying a home somewhere I don’t want to live, but what’s the point?
- dgfitz 2y agoIt’s just a numbers thing. Applying emotion and trust (in your words) to a numerical financial decision is naive at best. I would try to change your mind with numbers and facts, but I can tell it would fall on deaf ears/eyes.
- paulcole 2y agoYeah I don’t deny there are ways to make more money than the choice I made. How would you answer the question I asked? > I would’ve done better financially by buying a home somewhere I don’t want to live, but what’s the point? Few decisions are purely numerical to most people. Or rather there are many decisions people claim are purely numerical and then make suboptimal numerical decisions on. It doesn’t make my choice a bad choice and doesn’t mean that I threw my money away on rent anymore than a homeowner threw their money away on a refrigerator, property taxes, etc. I exchanged a small amount of money for a place to live and had money left over to spend/invest in other ways and I got to live in an area I really love. I guess that’s what I get for being naive at best.
- dgfitz 2y agoIt was this comment: > Something similar to this is why I prefer renting and why anyone who unshakeably believes renting is “throwing money away” is immediately suspicious to me. That doesn't seem like a rational take. Renting IS throwing money away if your goal is to maximize wealth. Paying off a mortgage early when you can get a higher % return in the market than the interest rate of your loan is ALSO throwing money away. To try and claim you're generating more wealth by renting just isn't true. To claim you're living the lifestyle you prefer, great. To be suspicious of everyone who makes such a mild claim is a microchasm of why the world is going to hell in a handbasket.
- paulcole 2y ago> Renting IS throwing money away if your goal is to maximize wealth I never said that was my goal. > To try and claim you're generating more wealth by renting just isn't true. I never claimed this. I have rented and I have generated wealth, however. > To be suspicious of everyone who makes such a mild claim is a microchasm of why the world is going to hell in a handbasket. It's usually because these people refuse to believe there's any benefit to renting and jump to conclusions and claim I said things I never said. I wonder if I can find an example of such a situation?
- dgfitz 2y agoIgnored this line by me huh? Convenient. Or, to you your word, suspicious. > To claim you're living the lifestyle you prefer, great.