Originally Posted by
NuGuy
This whole argument reminds me of 2006, where every single person I flew with told me I was the stupest person on earth that I didn't cash out my fully paid for home (with the mortgage firm they were shilling, of course) and immediately invest the proceeds into the market.
I'm not a doomsday guy by any stretch, but it took almost 10 years for the market and most real estate to recover from the 2008 implosion. I hope some didn't lose on that trade. I was heavy into basically cash at that point, so dodged the worst of it, but it sure stung when those 4% CDs that people laughed at 12 months previous rolled over to 0.05%.
We are all the best financial advisors when times are good. I rather have a roof over my head when the **** storm blows, which it will. The effects of the Covid years hasn't seen yet. The government put a bandaid and keep inflating the bubble. Once my house is paid off, I only really will need 15hrs of work per month to live comfortably. At that point the remaining 50hrs of pay can go to hobbies, market, REÍ, etc etc.
I wonder how wonder 25-30yr old hired would feel if we need to take concession. It’s just a matter of time before delta comes to the door knocking, when S hits the fan.