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- Nov 27, 2014
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How would you evaluate whether or not to cancel a major purchase at this time. For example, say you were on the verge of a major home renovation and just about to sign the contract. Let’s say it’s big, $100K and that $100K is close to 10% of your current portfolio. Of course in percentage terms, it wasn’t that high when you started the planing.
In my case, it’s not as essential as a house remodel might be considered. My situation is a pool. It’s been a dream of mine and it goes along with a major landscaping project. Please don’t tell me how terrible a pool is (a hole to throw money in), I’m aware. The question is, how would you evaluate moving forward or not.
I think I’d be fine as long as things stabilize. I could even probably deal with the market going down another 20% before I’d have to think in terms of tightening my belt of taking SS a little earlier than planned. But of course, this current situation make one pause. So, how to evaluate going forward?
Note, I’d probably lose about $8K if I cancel. But of course that’s a lot less than making a $100K mistake.
In my case, it’s not as essential as a house remodel might be considered. My situation is a pool. It’s been a dream of mine and it goes along with a major landscaping project. Please don’t tell me how terrible a pool is (a hole to throw money in), I’m aware. The question is, how would you evaluate moving forward or not.
I think I’d be fine as long as things stabilize. I could even probably deal with the market going down another 20% before I’d have to think in terms of tightening my belt of taking SS a little earlier than planned. But of course, this current situation make one pause. So, how to evaluate going forward?
Note, I’d probably lose about $8K if I cancel. But of course that’s a lot less than making a $100K mistake.
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