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Thread: You cannot ignore economic reality.

  1. #121

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    Quote Originally Posted by Locke888 View Post
    So with what we see coming down the road I’m uncertain if I should continue my path. Right now I save a bit until I have enough to pay an extra payment on my mortgage. Started doing this a little more than 4 years ago and have made 13 extra payments. Got about 6 years to go. Now I’m leaning towards taking that extra money and buying PMs. Also could just save the extra cash in the bank or under a mattress for the purpose of buying a rental property when home prices drop. Thoughts?
    Best answer depends on too many variables!

    For example, I'm almost 5 years into a 30 yr mortgage at age 51.
    I pay the bare minimum every month because I know this is not where I want to live for the rest of my life.

    If you plan to live out the rest of your life in your present home, then yeah, it may make sense to pay it off early.

    Also depends if you've met a personal goal on your personal stacking.

    If I were stacking, and I'm not saying I do, at my age and these prices, I'd probably be out of the stacking game.

    So it just depends on where you are in life and where you want to be. I can't really answer that for you, and I'm not sure anyone else can either.
    I was driving across the burning desert; When I spotted six jet planes; Leaving six white vapor trails across the bleak terrain; It was the hexagram of the heavens; it was the strings of my guitar; Amelia, it was just a false alarm. --Joni Mitchell, Amelia

    http://www.youtube.com/watch?v=N6d2RG2Rl64

  2. #122

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    Quote Originally Posted by Locke888 View Post
    So with what we see coming down the road Iím uncertain if I should continue my path. Right now I save a bit until I have enough to pay an extra payment on my mortgage. Started doing this a little more than 4 years ago and have made 13 extra payments. Got about 6 years to go. Now Iím leaning towards taking that extra money and buying PMs. Also could just save the extra cash in the bank or under a mattress for the purpose of buying a rental property when home prices drop. Thoughts?
    properly purchased and properly managed rental property is an amazing source of positive cash flow to then buy p m's monthly.

  3. #123
    Join Date
    Jan 2017
    Posts
    4,129

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    Ray Dalio: The world has gone mad and the system is broken.

    Excessive credit creation is affecting all asset classes: stocks, bonds, and even venture capital.

    https://www.barrons.com/articles/hed...?mod=hp_LEAD_2

  4. #124

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    If the rate on the mortgage is less than a rate you could get somewhere else go the other route. I have a mortgage rate of 2.625, although I could pay it off anytime it makes no sense to do so, inflation will erode those borrowed dollars further yet. What is coming down the road?, who really knows, very low interest rates is what our elected officials want, and that is the trend, the trend is your friend. If you feel their will be better opportunity for purchasing a 2nd property for investment purpose, by all means save up for that downpayment.

    Quote Originally Posted by Locke888 View Post
    So with what we see coming down the road Iím uncertain if I should continue my path. Right now I save a bit until I have enough to pay an extra payment on my mortgage. Started doing this a little more than 4 years ago and have made 13 extra payments. Got about 6 years to go. Now Iím leaning towards taking that extra money and buying PMs. Also could just save the extra cash in the bank or under a mattress for the purpose of buying a rental property when home prices drop. Thoughts?

  5. #125
    Join Date
    Jun 2014
    Posts
    3,458

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    Well, economic reality does NOT matter anymore.........free f*in money for the bankster rats (Repo, not-QE..100's of billions FREE every day)!
    Slam pm's 4ever, pump the filthy SM's into heaven.
    This constant moronic algo tripping "trade" news has evolved to beyond ridiculously stupid.


    For anyone reading with DDos or some other great IT knowlegde: Write a program that blasts the algo will bad news tweets...bwahaha

  6. #126
    Join Date
    Mar 2011
    Posts
    3,191

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    Quote Originally Posted by maxwellsilverhammer View Post
    properly purchased and properly managed rental property is an amazing source of positive cash flow to then buy p m's monthly.
    I've found properly purchased and worked hay/alfalfa fields to be a better source of positive cash/pm flow. Dealing with moronic genpop renters is not a factor, only dealing with stable owners a few times a year is required when they provide full payment at the time services are rendered. Also, the missus' horses are provided for, an important consideration in my world. Finally, you get to play on tractors.
    Last edited by nergal; 11-07-2019 at 08:45 AM.

  7. #127
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    Jan 2017
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    Look what happens in Lebanon. Depositors have a run on the banks.....
    and some depositors are even armed with guns.

    https://www.zerohedge.com/economics/...lebanese-banks

    My note: having gold at home is so reassuring.

  8. #128
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    Jan 2017
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    Chinese bank issues 7 billion $ in convertible bonds. It was oversubscribed
    by.....1 TRILLION $.

    Lots of liquidity, thirsty for yields.

    https://www.zerohedge.com/markets/ri...n-chinese-bond

  9. #129
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    Jan 2017
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    Moody's downgrades the whole global debt, which is exacerbated
    by political tensions-from Brexit to HongKong.

    https://www.zerohedge.com/news/2019-...warning-moodys

  10. #130
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    Jan 2017
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    The Fed tells the Congress: no more rate cuts.

    https://www.zerohedge.com/economics/...more-rate-cuts

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