Tarastie@lemmy.world to A Boring Dystopia@lemmy.world · 10 months agoRetiring at 51 with only 3x minimum wage/SS and a fully paid off $500,000 house, savings, no restrictions on moving someplace cheap or doing work from home for benefits and spending money.lemmy.worldimagemessage-square26fedilinkarrow-up1109arrow-down120file-text
arrow-up189arrow-down1imageRetiring at 51 with only 3x minimum wage/SS and a fully paid off $500,000 house, savings, no restrictions on moving someplace cheap or doing work from home for benefits and spending money.lemmy.worldTarastie@lemmy.world to A Boring Dystopia@lemmy.world · 10 months agomessage-square26fedilinkfile-text
minus-squareAshyr@sh.itjust.workslinkfedilinkarrow-up16·10 months agoDude should pay off his home. It’ll appreciate, that savings account won’t.
minus-squareGigan@lemmy.worldlinkfedilinkarrow-up8arrow-down1·10 months ago It’ll appreciate, that savings account won’t. It depends, high yield savings accounts are getting >5% interest right now. Which could be higher than his mortgage rate.
minus-squarenowwhatnapster@lemmy.worldlinkfedilinkarrow-up1·10 months agoMortgage = 2.25% Tbills = 5% I can attest to this scenario.
Dude should pay off his home. It’ll appreciate, that savings account won’t.
It depends, high yield savings accounts are getting >5% interest right now. Which could be higher than his mortgage rate.
Mortgage = 2.25% Tbills = 5%
I can attest to this scenario.