Orchidflower
Thinks s/he gets paid by the post
- Joined
- Mar 10, 2007
- Messages
- 3,323
When you retired--if you moved to a new home--how did you figure out how much to spend on the new house you purchased?
I recently was doing some research that suggested 30% of monies a retiree had was the rule of thumb (for retirees) to put down for their home. I have no clue as to how they came up with that one, so maybe someone can explain?
Since I'm basically conservative in the best of conditions--and I remember the big dump of monies I took in 2008 in the market--I bought way less than I could afford...but that's just me.
I recently was doing some research that suggested 30% of monies a retiree had was the rule of thumb (for retirees) to put down for their home. I have no clue as to how they came up with that one, so maybe someone can explain?
Since I'm basically conservative in the best of conditions--and I remember the big dump of monies I took in 2008 in the market--I bought way less than I could afford...but that's just me.