How much money is just right for you

1. 2020-09-22 at 10:43 PM UTC

   #21
   

   rabbitweed African Astronaut

   Originally posted by Sophie 60 to 70k is very reasonable. Mortgage, utilities, car maintenance, gas and groceries would all be accounted for. On the condition you don't get an extravagant house and three cars.

   
   I'm on more than that, and I'm terrified of the 30 year mortgage you'd get on that salary. Interest rates are at rock bottom, globally. How long will that last?
   
   I feel like a lot of mortgage owners are in for a rude awakening in a few years.
2. 2020-09-22 at 10:45 PM UTC

   #22
   

   Sophie Pedophile Tech Support

   Originally posted by rabbitweed I'm on more than that, and I'm terrified of the 30 year mortgage you'd get on that salary. Interest rates are at rock bottom, globally. How long will that last?
   
   I feel like a lot of mortgage owners are in for a rude awakening in a few years.

   
   I didn't say i wouldn't like to be making a million a year, but realistically you could live off of 70k a year quite comfortably.
   The following users say it would be alright if the author of this post didn't die in a fire!

   • Obbe
3. 2020-09-22 at 10:57 PM UTC

   #23
   Ajax African Astronaut [rumor the placative aphakia]

   Originally posted by rabbitweed I feel like a lot of mortgage owners are in for a rude awakening in a few years.

   
   How so? Maybe those with an adjustable rate mortgage, sure. But most people with mortgages have a fixed rate.
4. 2020-09-22 at 11:16 PM UTC

   #24
   

   rabbitweed African Astronaut

   Originally posted by Ajax How so? Maybe those with an adjustable rate mortgage, sure. But most people with mortgages have a fixed rate.

   
   Usually not fixed for a decade though
5. 2020-09-22 at 11:25 PM UTC

   #25
   

   Obbe Alan What? [annoy my right-angled speediness]
   Enough to pay the bills and have a cushion for emergency situations. Not so much that I turn into a snob.
6. 2020-09-22 at 11:55 PM UTC

   #26
   

   rabbitweed African Astronaut

   Originally posted by Obbe Enough to pay the bills and have a cushion for emergency situations. Not so much that I turn into a snob.

   
   You got your house paid off very quickly considering what you earn. Were they cheap back then or did you have family help?
7. 2020-09-23 at 12:47 AM UTC

   #27
   

   Obbe Alan What? [annoy my right-angled speediness]

   Originally posted by rabbitweed You got your house paid off very quickly considering what you earn. Were they cheap back then or did you have family help?

   
   My family helped me out.
   The following users say it would be alright if the author of this post didn't die in a fire!

   • rabbitweed
8. 2020-09-23 at 1:05 AM UTC

   #28
   Ajax African Astronaut [rumor the placative aphakia]

   Originally posted by rabbitweed Usually not fixed for a decade though

   
   Sure it is. Fixed rate means for the life of the loan.
9. 2020-09-23 at 1:11 AM UTC

   #29
   

   rabbitweed African Astronaut

   Originally posted by Ajax Sure it is. Fixed rate means for the life of the loan.

   
   Could you give me a link for a 30 year fixed loan mortgage in your country?
   
   Banks here offer fixed rate for 3 years, max.
10. 2020-09-23 at 1:11 AM UTC

    #30
    

    rabbitweed African Astronaut

    Originally posted by Obbe My family helped me out.

    
    That's great. I hope to be able to do this one day.
11. 2020-09-23 at 1:34 AM UTC

    #31
    Ajax African Astronaut [rumor the placative aphakia]

    Originally posted by rabbitweed Could you give me a link for a 30 year fixed loan mortgage in your country?
    
    Banks here offer fixed rate for 3 years, max.

    
    Sure. Bankrate is usually a pretty reliable source.
    
    https://www.bankrate.com/mortgages/30-year-mortgage-rates/
12. 2020-09-23 at 1:46 AM UTC

    #32
    

    rabbitweed African Astronaut
    Wow the financial landscape in the US is completely different.
    
    Maybe these great rates rely on people going into debt, fucking it up, and paying the juicy rates.
13. 2020-09-23 at 6:40 AM UTC

    #33
    

    Speedy Parker Black Hole [my absentmindedly lachrymatory gazania]

    Originally posted by rabbitweed Usually not fixed for a decade though

    
    That is what fixed rate means you dolt, fixed rate for the duration of the loan/mortgage.
14. 2020-09-23 at 6:43 AM UTC

    #34
    

    rabbitweed African Astronaut

    Originally posted by Speedy Parker That is what fixed rate means you dolt, fixed rate for the duration of the loan/mortgage.

    
    That's not what it means here you stupid old man.
15. 2020-09-23 at 6:49 AM UTC

    #35
    

    Speedy Parker Black Hole [my absentmindedly lachrymatory gazania]

    Originally posted by rabbitweed That's not what it means here you stupid old man.

    
    It means that in the US which has more mortgages than your shitty little excuse for a country you dolty old dolt.
16. 2020-09-23 at 7:08 AM UTC

    #36
    

    A College Professor victim of incest [your moreover breastless limestone]
    Hey don't be nasty
17. 2020-09-23 at 8:13 AM UTC

    #37
    

    rabbitweed African Astronaut

    Originally posted by Speedy Parker It means that in the US which has more mortgages than your shitty little excuse for a country you dolty old dolt.

    
    why the fuck would I be intimately familiar with US mortgages?
18. 2020-09-23 at 9:27 AM UTC

    #38
    Nil African Astronaut [the overexcited four-footed chanar]

    Originally posted by rabbitweed why the fuck would I be intimately familiar with US mortgages?

    
    I mean they DID cause a global financial meltdown.
19. 2020-09-23 at 1:47 PM UTC

    #39
    

    Speedy Parker Black Hole [my absentmindedly lachrymatory gazania]

    Originally posted by rabbitweed why the fuck would I be intimately familiar with US mortgages?

    
    You expect others to know about the shithole you live in.
20. 2020-09-23 at 2:15 PM UTC

    #40
    

    vindicktive vinny Black Hole

    Originally posted by Ajax When you’re getting to that 3.5 mill, you’re in the accumulation phase of investing. During that time, you aren’t putting your money in the bank. You’re investing in mutual funds, ETFs, index funds, things of that nature. You’ll want to have a pretty aggressive asset allocation for a while, somewhere around 90% stocks and 10% bonds, with a drift as you get closer to retirement. You could do even 100% stocks, but the bond allocation will allow you to do periodic rebalancing. Automatically buy low and sell high, you feel? While you are accumulating, you’ll be pulling around 8% compound annual growth rate (CAGR), adjusted for inflation. Don’t believe me? Look up the historical rate of return of the S&P 500.

    
    your going to cause him to lose everything in the coming economix prolapse.
    
    US stock prices these days have no correlation with earnings whatsoever, and when investors and algos and robinhoodies finally realize .....