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Old 07-26-2012, 09:08 PM   #41
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Originally Posted by Notmuchlonger

Yep. We found we could live on a lot less if we didn't want to see the World. Boyhowdy travel is a budget chomper.
That is the only thing holding me back from pulling the retirement trigger. I live frugally but if I feel like checking into the Hôtel de Crillon in Paris, I want be able to do so...

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Old 07-26-2012, 09:13 PM   #42
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Originally Posted by Katsmeow View Post
Well, it certainly can, particularly if paid for.

If I have $1,000,000 net worth not including my house but am paying a mortgage every month then I have to withdraw more more than the same person who has $1,300,000 net worth including a $300,000 paid for house house who doesn't have to withdraw money for a mortgage every month.

This may not be true in every situation but in general a paid for house probably does reduce housing costs and so enables more money to stay in the portfolio making us "richer".
Owning that home also removes one giant risk exposure from a retiree's life. In the event of very strong rent inflation, our homeowner has the largest piece of his housing costs fixed. This of course has nothing to do with fixed mortgage/no mortgage, only ownership. And of course to minimize risks, if one has a mortgage see to it that it it is fixed and not so much of a burden as to risk delinquency.


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Old 07-26-2012, 09:24 PM   #43
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Originally Posted by Redbugdave View Post
If that calc and article is right...our country is in a heap of trouble. Are people that bad about in the present and self gratification and about as dumb as a box of rocks when it comes to personal wealth and responsibility?
Were the net worth numbers significantly higher in the past? Even after accounting for inflation, I suspect they may have instead been lower 25, 50 and 100 years ago.
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Old 07-27-2012, 08:08 AM   #44
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Originally Posted by NW-Bound View Post
Foreign travel can be less expensive if one is willing to do some extra "leg work". Of course we are all getting older and lazier weaker every year.

But I also think that getting older means that we will spend more on the same trip. We'll be back to Scotland in September. Last time we were there, I drove and we stayed at country hotels that we could book on the road.

This time it will be an escorted tour. I'm getting too old (and senile?) to drive on the "wrong" side of the road and keep my mind on where I'm supposed to be on the road. Anyway, the advantage is that this time I'll be able to have a "dram" at lunch, without worrying about driving ...

The other is that I'd rather let somebody else arrange for a room for the night. Those of you who traveled in Scotland (outside of the major cities) know that getting a room/hotel can really be a challange (one night, we almost had to sleep in our car, surrounded by sheep !

Of course for our China & Africa trips (booked for next year), we would not attempt to travel on our own, especially at our age. We would rather somebody else take care of carting around the luggage...
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Old 07-27-2012, 04:35 PM   #45
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I thought the NW for me using my last salary was pathetically low and now I read that it includes your home's value? Good Lord! This country is full of people w/o a pot to pi$$ in!

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