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Hi Mikey,Give me a break on the age at least ... I am 70. *
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You are right! I apologize. I'm 63, and don't nobody better call me 64!
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The laundry has not done well since the last recession.
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Sorry to hear that. It sounded so good to me. An income generator that was independent of stock market valuations, and presumably reasonably proof against the inroads of inflation.
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I am trying to beef up the gross income so it will bring a better price on the market in a year or so. *Currently it just barely covers payments on a home equity loan that will be paid off in 4 years. *So as it stands now I need about $20-30k per year from investments plus about $20k per year from SS to be comfortable. *
When I dump the laundry I will be debt free. *This
will allow me to reduce my equity exposure quite
a bit and sail away peacefully into the sunset. *
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Charley, thanks for the very clear explanation. I see what you are heading for now. Good luck with it! By the way, were there neighborhood changes or other factors you can pinpoint that changed the profitability of your laundromat?
Mikey
__________________
Above all, humans are political animals.
Nota bene: I am either a moron or an idiot. So don't pay any attention to anything I say or you are one too. Please consult your financial advisor, astrologer or proctologist for whatever it may be that you are seeking.
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