DrgLrd
Recycles dryer sheets
- Joined
- Feb 21, 2022
- Messages
- 106
Got a question for the experts here.
Age 50, just retired. Rent is around $10,000 per year depending on the exchange rate (I'm outside the US). It's a great deal and should be much more. Expenses are almost double that.
Houses are between $300k and $400k (and should be much less) and are paid in cash.
I have two choices: buy a house now and invest the $600 or $700k for income, or rent, and invest (annuitize) all $1m
Is there any scenario where renting makes financial sense? For example, if I use the $300k for a deferred annuity, could rent for 15 to 20 years and then have enough to purchase a house?
Age 50, just retired. Rent is around $10,000 per year depending on the exchange rate (I'm outside the US). It's a great deal and should be much more. Expenses are almost double that.
Houses are between $300k and $400k (and should be much less) and are paid in cash.
I have two choices: buy a house now and invest the $600 or $700k for income, or rent, and invest (annuitize) all $1m
Is there any scenario where renting makes financial sense? For example, if I use the $300k for a deferred annuity, could rent for 15 to 20 years and then have enough to purchase a house?