@Dpeck100 said:
The higher the prices, the more bragging rights, the cooler it becomes. This isn’t rocket science.
Sounds like the Mantle selling for 5 million.
Mantle has stood the test of time 70 years of time.
When did I state that he hadn't?
But the guy paying 5 million for it and posing for countless interviews about it definitely did it for bragging rights.
Manipulation it's all over the hobby right about now. A house of ''cards''. Get out before it falls. It's like saying the US is rich with almost 30 trillion dollars in debt. More money than there is gold on the entire planet. Illusions with scotch tape holding it together. People need to believe all is OK.
I keep waiting for vintage unopened prices to decline so I can buy more packs and boxes. Been waiting for over 20 years now and still waiting..I'm glad I didn't stop buying while waiting, either.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
If you believe this rising tide is lifting all boats and will recede, why wouldn't it affect everything?
Past tides you know historic cycles. This is not the 1st massive wave. But this one could get ugly people losing jobs left and right and many other troubles the world will be facing in the next 5-10 years. This covid thing is not just going to go away it will possibly mutate and a lot of nations where already on the brink food wise and money wise before any of this. Here in Canada they are talking maybe 25% unemployment imagine that for a moment. Good chance people that are hungry and without work will not care much for cardboard or metal. This thing is far from over. We are in the middle of a perfect storm in a small boat.
Massive famine is very possible for many around the globe. And with famine come wars. Believe me I wish all this was not possible I have no need to live threw it or see others suffer.
We are not out of this not by a long shot. Things may never be the same in our life times. I hate saying that but it could very easily be the case.
funny thing is nobody's right here, nobody's wrong. it's useless saying jordan isn't ruth, mantle isn't jordan and ruth was better than mantle. beauty is in the eye of the beholder. hell, i argue w myself on a daily basis of just who is the goat of goats. and i come up w a different answer almost daily. and we haven't even tossed in the nicklaus, peli, ali or morton andersen into the ring. but you mofos are stupidly sitting here trying to convince each other that they are wrong. and it's never gonna happen. why? well. the first part is pride. the second is generational. each sport evolves. no one will ever beat nolan ryan's strikeout record. why? because he was the greatest pitcher of all time? debatable but not a fact. or is it more along the lines that the game has changed and that no one will ever get the chance to these days because so. you guys are arguing over semantics and your own personal biases. a completely unwinable convo. but i'm having fun watching.
we can sit here and argue all day long about who's king of the hill. the trout superfractor, the wagner, mantle 9 and all the what if's. the only reality is that youre only king of the hill until you aren't. which seems to be happening more frequently these days. and that's a good thing to me. obviously not to most of you ladies. but everything changes. everything. the more you fight that fact, the stupider you look. and you gals look stupid as hell right now. i'm sorry, but you do. instead of celebrating cardboard as a whole, you guys are dividing over it. but by all means, please continue. i love free entertainment and this is straight comedy.
p.s. the rest of us are just jealous of all the WS titles
berra is my goat today simply by the statement above.
Lawrence Berra also earned three MVPs, was very quotable, played one of the most important positions on the diamond and was quite the humanitarian while alive and even posthumously; Montclair State will operate for quite a while on his endowments.
Seems like a fine choice to me. 😉
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
p.s. the rest of us are just jealous of all the WS titles
berra is my goat today simply by the statement above.
Lawrence Berra also earned three MVPs, was very quotable, played one of the most important positions on the diamond and was quite the humanitarian while alive and even posthumously; Montclair State will operate for quite a while on his endowments.
Seems like a fine choice to me. 😉
and i liked the notion to add cards to the thread! just a few of my favs from the run...
@jfkheat said:
I don't care what anyone says, no modern card is worth over $100,000.
Something is worth whatever two people agree to exchange it for. Like you, I will never be one of those two people. Then again, I just paid more for a card than I ever have before, of someone that was dead before I was born, thus never saw play and don’t have a personal connection with (childhood memory of). So a lot of people think I’m nuts too.
I’ve stopped trying to predict how this all ends. What is clear to me is as long as money is easy to access and essentially free, we are going to see continued growth in all assets. Cards are just part of a larger asset bubble that will continue to inflate as long as governments are printing trillions of dollars and injecting them into the economy.
When that bubble burst card values will be the least of anyones problems.
@80sOPC said:
I’ve stopped trying to predict how this all ends. What is clear to me is as long as money is easy to access and essentially free, we are going to see continued growth in all assets. Cards are just part of a larger asset bubble that will continue to inflate as long as governments are printing trillions of dollars and injecting them into the economy.
When that bubble burst card values will be the least of anyones problems.
You’re exactly right. What’s going on in cards is the exact same thing that’s going on in GameStop and some other assets. Textbook asset bubbles. The asset bubble in cards couldn’t be clearer. It’s a natural byproduct of having interest rates too low/money supply too high for too long. Too much money chasing too few goods.
The economy is riddled with asset bubbles right now including cards. They will all burst as they invariably do every time.
I collect more the cards - wine, whisky and auto’s. Also into boats but don’t have a ride current.
All of these things have gone off. RE where I live is insane - people are crawling over each other to spend 1-2mm on tear down homes in areas that have never been popular. This asset bubble is epic and the wind down, whenever that occurs is going to be unreal. We are all rich till we aren’t.
My point was if you have cards that are modern and can help put a down payment or even pay off a house in full this is the time to sell. Cards are high at the moment and properties mostly will lower or are already low. Better to own a house in my opinion versus modern day cards.
Take the opportunity it may never come again if things hit a wall. Then most will have to work for 30-35 years to pay off the exact same house they could have possibly just paid off and enjoyed a good life.
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
I am sorry a home is a home and a home paid off is a life of peace. Nothing trumps peace and a good life with zero debt.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
Yeah there is. Cash flow.
Everyone said no reason to pay off your condo. It took me 13.5 years but best financial decision I have made.
It’s mine and no mortgage payment. It allows you so much more flexibility.
Debt elimination is how you secure long term wealth.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
Yeah there is. Cash flow.
Everyone said no reason to pay off your condo. It took me 13.5 years but best financial decision I have made.
It’s mine and no mortgage payment. It allows you so much more flexibility.
Debt elimination is how you secure long term wealth.
This is 100% true.
Those with cash flow and liquid assets can do almost anything they want with cards, mutual funds or anything else.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
You hit the nail on the head and why "experts" like Dave Ramsey are charlatans.
Rushing to pay off a home loan with an interest rate lower than inflation, losing the interest tax write off, and the opportunity cost are all reasons why paying off a home loan in today's economy is not always a sound strategy.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
You hit the nail on the head and why "experts" like Dave Ramsey are charlatans.
Rushing to pay off a home loan with an interest rate lower than inflation, losing the interest tax write off, and the opportunity cost are all reasons why paying off a home loan in today's economy is not always a sound strategy.
there's sound strategy and sleeping sound. these days, i'll take the latter. every time.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
You hit the nail on the head and why "experts" like Dave Ramsey are charlatans.
Rushing to pay off a home loan with an interest rate lower than inflation, losing the interest tax write off, and the opportunity cost are all reasons why paying off a home loan in today's economy is not always a sound strategy.
Not everyone purchased a home with a low interest rate are could be in a locked term and once that ends they can pay it off and during that term can give a certain percentage.
Some will happy they did and some will cry all their lives about what if I had just paid it off now I may die trying to.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
You hit the nail on the head and why "experts" like Dave Ramsey are charlatans.
Rushing to pay off a home loan with an interest rate lower than inflation, losing the interest tax write off, and the opportunity cost are all reasons why paying off a home loan in today's economy is not always a sound strategy.
Not everyone purchased a home with a low interest rate are could be in a locked term and once that ends they can pay it off and during that term can give a certain percentage.
Some will happy they did and some will cry all their lives about what if I had just paid it off now I may die trying to.
Which is why I made the qualification about interest rate lower than inflation.
This conversation has gone on since the first person put a price on cards. No matter what if you stand back they are all just pieces of cardboard worth absolutely zero in the real world. So if someone wants a Wagner or a Jordan who’s to say what’s right. It’s the same for spending $10M on some obscure artists that the so called experts deem incredible.
In the scope of things all cardboard is irrelevant.
W.C.Fields "I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
@2dueces said:
This conversation has gone on since the first person put a price on cards. No matter what if you stand back they are all just pieces of cardboard worth absolutely zero in the real world. So if someone wants a Wagner or a Jordan who’s to say what’s right. It’s the same for spending $10M on some obscure artists that the so called experts deem incredible.
In the scope of things all cardboard is irrelevant.
apparently chaz, right? but agree and exactly my point. some would say we are all nuts for spending even $.01 on a piece of cardboard. so for another collector to come in and state that crap is "vinsane".
What you are talking about is financial security. That can come in many forms including a paid off house. It can also come in the form of millions of dollars invested and a rental home. Why would I direct cash that can return 10% to an asset that costs 1.74% to carry and appreciates at 5% yoy. For the record I’m not talking about pulling money out of the home to buy toys, this is all about maximizing return.
The goal, for me anyways, is to have as much at retirement as possible. Paying off the home in this rate environment works against that.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
I am sorry a home is a home and a home paid off is a life of peace. Nothing trumps peace and a good life with zero debt.
Who is wealthier, the guy with 8mm invested and a 2mm mortgage or the guy with zero mortgage and 4mm invested.
Wealth is achieved by have more assets then liabilities. I get that having a paid off home provides comfort for lots of people, but there is no reasonable financial argument to assign cash growing at 10% to a liability that requires 1.74% to service. I will keep the 8% delta.
This is pretty basic stuff, I get the emotional argument around paying off a house but I really like compounding and in this environment - low rates, healthy equity returns - it makes zero financial sense to give up the spread if you don’t have cash flow issues / job security issues. Literally free money.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
Yeah there is. Cash flow.
Everyone said no reason to pay off your condo. It took me 13.5 years but best financial decision I have made.
It’s mine and no mortgage payment. It allows you so much more flexibility.
Debt elimination is how you secure long term wealth.
Let’s say today I have a minimum mortgage payment of 2k. I really want to pay off my home so I make double payments. 4k per month.
Other example, I take the additional 2k and invest it and return 7%.
Cash flow the same for the next ten years. At the end of the ten years I have paid my house completely, or have a a balance owing on my mortgage and around 350k in investments. That 350k will be greater then the balance of the mortgage. In all likelihood I will still be able to pay down the mortgage and put 100K in my pocket. Or, allow the 400k to continue to compound and double every 10 years.
There is no cash flow implication here, well there is, you will have more cash at the end.
@80sOPC said:
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
Yeah there is. Cash flow.
Everyone said no reason to pay off your condo. It took me 13.5 years but best financial decision I have made.
It’s mine and no mortgage payment. It allows you so much more flexibility.
Debt elimination is how you secure long term wealth.
This is 100% true.
Those with cash flow and liquid assets can do almost anything they want with cards, mutual funds or anything else.
Yes and no mortgage means you can save say 1500$ per month for life as well. It's all how one wants to live their life. Lose your job house is already paid off you don't need to worry about finding the same exact salary right away to keep your standards of living. Many variables in life.
I thought we were in an epic asset bubble? When you retire debt it is gone. Seems like someone who has been so bearish would think this was a good strategy.
I guess I should have taken out a home equity line and bought that Jordan 10 at $54,000 that was wildly overvalued and destined to crash. Damn. Shoulda woulda coulda.
There are fixed costs and variable costs in life. Shelter is a necessity and generally the largest single line item in ones budget. When that cost is either significantly reduced or eliminated it makes it a lot easier to do the things in life you want too and especially when one reaches retirement.
If you have a mortgage for example of $100,000 and are paying $2,000 a month the cash flow need is $24,000. Sure you may earn more on it elsewhere and created positive carry but you might lose it too. The interest you are paying may only be $3,000 but you have to come up with $24,000. It is nice when you don't.
There is no right answer for everyone. I like waking up everyday knowing no one can take it from me and that works for me.
I have plenty of irons in the fire and the epic asset bubble has certainly padded my balance sheet.
Comments
Sounds like the Mantle selling for 5 million.
Mantle has stood the test of time 70 years of time.
The buyer said after his media blitz he had an offer of 6 and then 8 million.
When did I state that he hadn't?
But the guy paying 5 million for it and posing for countless interviews about it definitely did it for bragging rights.
A PSA 9 is rare so are PSA 10's not the 1952 Mantle in general.
I haven’t read every comment. Are you trying to argue Jordan isn’t on the level of Mantle?
More people vying for bragging rights.
Manipulation it's all over the hobby right about now. A house of ''cards''. Get out before it falls. It's like saying the US is rich with almost 30 trillion dollars in debt. More money than there is gold on the entire planet. Illusions with scotch tape holding it together. People need to believe all is OK.
I keep waiting for vintage unopened prices to decline so I can buy more packs and boxes. Been waiting for over 20 years now and still waiting..I'm glad I didn't stop buying while waiting, either.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Vintage will not drop some maybe but not much.
Based on what?
If you believe this rising tide is lifting all boats and will recede, why wouldn't it affect everything?
Past tides you know historic cycles. This is not the 1st massive wave. But this one could get ugly people losing jobs left and right and many other troubles the world will be facing in the next 5-10 years. This covid thing is not just going to go away it will possibly mutate and a lot of nations where already on the brink food wise and money wise before any of this. Here in Canada they are talking maybe 25% unemployment imagine that for a moment. Good chance people that are hungry and without work will not care much for cardboard or metal. This thing is far from over. We are in the middle of a perfect storm in a small boat.
Massive famine is very possible for many around the globe. And with famine come wars. Believe me I wish all this was not possible I have no need to live threw it or see others suffer.
We are not out of this not by a long shot. Things may never be the same in our life times. I hate saying that but it could very easily be the case.
vintage unopened is the hardest to find in this hobby. especially certified pre 1980 / believe me I know.
Hey I just enjoy collecting.
This thing went off the rails a long time ago
Hey people want to see the train burn in the forest.
funny thing is nobody's right here, nobody's wrong. it's useless saying jordan isn't ruth, mantle isn't jordan and ruth was better than mantle. beauty is in the eye of the beholder. hell, i argue w myself on a daily basis of just who is the goat of goats. and i come up w a different answer almost daily. and we haven't even tossed in the nicklaus, peli, ali or morton andersen into the ring. but you mofos are stupidly sitting here trying to convince each other that they are wrong. and it's never gonna happen. why? well. the first part is pride. the second is generational. each sport evolves. no one will ever beat nolan ryan's strikeout record. why? because he was the greatest pitcher of all time? debatable but not a fact. or is it more along the lines that the game has changed and that no one will ever get the chance to these days because so. you guys are arguing over semantics and your own personal biases. a completely unwinable convo. but i'm having fun watching.
we can sit here and argue all day long about who's king of the hill. the trout superfractor, the wagner, mantle 9 and all the what if's. the only reality is that youre only king of the hill until you aren't. which seems to be happening more frequently these days. and that's a good thing to me. obviously not to most of you ladies. but everything changes. everything. the more you fight that fact, the stupider you look. and you gals look stupid as hell right now. i'm sorry, but you do. instead of celebrating cardboard as a whole, you guys are dividing over it. but by all means, please continue. i love free entertainment and this is straight comedy.
iko-iko unday.
All threads are made better with cards. Here’s some from my PC...
Smiles guys! It’s just cardboard!
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
That's the wrong Jordan above. That one was traded in a deal for:
I've still got this one, though:
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
LOVE IT!
Esp. Ruth, Williams, Jeter, Mattingly, Gehrig, Guidry!....
And I hate the Yankees
p.s. the rest of us are just jealous of all the WS titles
berra is my goat today simply by the statement above.
Lawrence Berra also earned three MVPs, was very quotable, played one of the most important positions on the diamond and was quite the humanitarian while alive and even posthumously; Montclair State will operate for quite a while on his endowments.
Seems like a fine choice to me. 😉
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
I usually take a two-hour nap from one to four
and i liked the notion to add cards to the thread! just a few of my favs from the run...
Something is worth whatever two people agree to exchange it for. Like you, I will never be one of those two people. Then again, I just paid more for a card than I ever have before, of someone that was dead before I was born, thus never saw play and don’t have a personal connection with (childhood memory of). So a lot of people think I’m nuts too.
@blurryface
That Tip Top Berra!
If you ever decide to let go it...
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
I’ve stopped trying to predict how this all ends. What is clear to me is as long as money is easy to access and essentially free, we are going to see continued growth in all assets. Cards are just part of a larger asset bubble that will continue to inflate as long as governments are printing trillions of dollars and injecting them into the economy.
When that bubble burst card values will be the least of anyones problems.
You’re exactly right. What’s going on in cards is the exact same thing that’s going on in GameStop and some other assets. Textbook asset bubbles. The asset bubble in cards couldn’t be clearer. It’s a natural byproduct of having interest rates too low/money supply too high for too long. Too much money chasing too few goods.
The economy is riddled with asset bubbles right now including cards. They will all burst as they invariably do every time.
I collect more the cards - wine, whisky and auto’s. Also into boats but don’t have a ride current.
All of these things have gone off. RE where I live is insane - people are crawling over each other to spend 1-2mm on tear down homes in areas that have never been popular. This asset bubble is epic and the wind down, whenever that occurs is going to be unreal. We are all rich till we aren’t.
My point was if you have cards that are modern and can help put a down payment or even pay off a house in full this is the time to sell. Cards are high at the moment and properties mostly will lower or are already low. Better to own a house in my opinion versus modern day cards.
Take the opportunity it may never come again if things hit a wall. Then most will have to work for 30-35 years to pay off the exact same house they could have possibly just paid off and enjoyed a good life.
Why would anyone be focused on paying off a house when rates are this low? Low rates are why we are in such a bubble, there is no incentive to retire debt that costs less then inflation and is stacked against an asset growing at double digits YOY.
I am sorry a home is a home and a home paid off is a life of peace. Nothing trumps peace and a good life with zero debt.
I get what your saying but a paid of house is lifetime wealth / peace of mind many strive to achieve.
Yeah there is. Cash flow.
Everyone said no reason to pay off your condo. It took me 13.5 years but best financial decision I have made.
It’s mine and no mortgage payment. It allows you so much more flexibility.
Debt elimination is how you secure long term wealth.
You could also pay off your house and then you can buy a card worth a mortgage payment every month in perpetuity.
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
Exactly working for a house 30-35 years is so much stress if one can avoid that they should.
Even snoop dog is involved
This is 100% true.
Those with cash flow and liquid assets can do almost anything they want with cards, mutual funds or anything else.
You hit the nail on the head and why "experts" like Dave Ramsey are charlatans.
Rushing to pay off a home loan with an interest rate lower than inflation, losing the interest tax write off, and the opportunity cost are all reasons why paying off a home loan in today's economy is not always a sound strategy.
there's sound strategy and sleeping sound. these days, i'll take the latter. every time.
Not everyone purchased a home with a low interest rate are could be in a locked term and once that ends they can pay it off and during that term can give a certain percentage.
Some will happy they did and some will cry all their lives about what if I had just paid it off now I may die trying to.
Which is why I made the qualification about interest rate lower than inflation.
This conversation has gone on since the first person put a price on cards. No matter what if you stand back they are all just pieces of cardboard worth absolutely zero in the real world. So if someone wants a Wagner or a Jordan who’s to say what’s right. It’s the same for spending $10M on some obscure artists that the so called experts deem incredible.
In the scope of things all cardboard is irrelevant.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
apparently chaz, right? but agree and exactly my point. some would say we are all nuts for spending even $.01 on a piece of cardboard. so for another collector to come in and state that crap is "vinsane".
Agreed just saying owning a paid off home and enjoying life over owning modern day cards would be a easy choice for many.
What you are talking about is financial security. That can come in many forms including a paid off house. It can also come in the form of millions of dollars invested and a rental home. Why would I direct cash that can return 10% to an asset that costs 1.74% to carry and appreciates at 5% yoy. For the record I’m not talking about pulling money out of the home to buy toys, this is all about maximizing return.
The goal, for me anyways, is to have as much at retirement as possible. Paying off the home in this rate environment works against that.
Who is wealthier, the guy with 8mm invested and a 2mm mortgage or the guy with zero mortgage and 4mm invested.
Wealth is achieved by have more assets then liabilities. I get that having a paid off home provides comfort for lots of people, but there is no reasonable financial argument to assign cash growing at 10% to a liability that requires 1.74% to service. I will keep the 8% delta.
This is pretty basic stuff, I get the emotional argument around paying off a house but I really like compounding and in this environment - low rates, healthy equity returns - it makes zero financial sense to give up the spread if you don’t have cash flow issues / job security issues. Literally free money.
Agreed do what you like.
Ok lets work through this and look at cash flow.
Let’s say today I have a minimum mortgage payment of 2k. I really want to pay off my home so I make double payments. 4k per month.
Other example, I take the additional 2k and invest it and return 7%.
Cash flow the same for the next ten years. At the end of the ten years I have paid my house completely, or have a a balance owing on my mortgage and around 350k in investments. That 350k will be greater then the balance of the mortgage. In all likelihood I will still be able to pay down the mortgage and put 100K in my pocket. Or, allow the 400k to continue to compound and double every 10 years.
There is no cash flow implication here, well there is, you will have more cash at the end.
Yes and no mortgage means you can save say 1500$ per month for life as well. It's all how one wants to live their life. Lose your job house is already paid off you don't need to worry about finding the same exact salary right away to keep your standards of living. Many variables in life.
I thought we were in an epic asset bubble? When you retire debt it is gone. Seems like someone who has been so bearish would think this was a good strategy.
I guess I should have taken out a home equity line and bought that Jordan 10 at $54,000 that was wildly overvalued and destined to crash. Damn. Shoulda woulda coulda.
There are fixed costs and variable costs in life. Shelter is a necessity and generally the largest single line item in ones budget. When that cost is either significantly reduced or eliminated it makes it a lot easier to do the things in life you want too and especially when one reaches retirement.
If you have a mortgage for example of $100,000 and are paying $2,000 a month the cash flow need is $24,000. Sure you may earn more on it elsewhere and created positive carry but you might lose it too. The interest you are paying may only be $3,000 but you have to come up with $24,000. It is nice when you don't.
There is no right answer for everyone. I like waking up everyday knowing no one can take it from me and that works for me.
I have plenty of irons in the fire and the epic asset bubble has certainly padded my balance sheet.