posted on Dec, 7 2009 @ 05:40 PM
Originally posted by jimmyx
i'm 57, bought a small house in 85' with 10% down and a 15 year mortgage, bought 2 year old cars when needed, ate at home most of the time, no boat,
no big suv, no big trips, no trying to up the jones next door.
now...i have no debt, i've retired early, plenty of money, but not rich. i've been called a tight ass all my life, but now i'm financially
comfortable. and i sit at home working at my hobbies, reading, going for drives with my wife, and not having to worry about some 401k, paying back
loans, or bills.
we all make choices in life, and i was looked down on in my early years for not getting the bigger house, the better car, the rolex, the boat, the
trips to hawaii...but i'm having the last laugh and yes i'm smug about it.
all those middle class people had the chance as i did, they made their bed and now they have to lie in it.
I'm glad that it worked out for you. Some of us tried the same thing but due to the recession it backfired.
Bought my house 5 1/2 years ago. 20% down. Mortgage was equal to one week's pay.
Now, my house is worth 38%
less. And frankly, I don't even think I could sell it for that.
On top of this, we are only bringing in about 58 - 67% of what we were despite having the exact same jobs. It's commission-based, hence the
Don't get me wrong -- I am happy for you.
But this latest bubble has made it extremely difficult for even those of us that DIDN'T abuse credit or spend beyond our means.