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Old 09-29-2021, 11:06 AM   #21
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I also have no mortgage, maintain a line of credit. The balance for it is $0. I wanted to get rid of it but was advised not to because it would be difficult to get another at my age and on a pension.
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Old 09-29-2021, 12:33 PM   #22
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Then it was the farmer who won a million dollars on the lottery.
One of his friends asked.: Hey Bill, what are you going to do now when you won a million dollars.?
The answer was: I guess I keep farming until it's all gone.!
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Old 09-29-2021, 04:06 PM   #23
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I'm clearly in the minority here, but I'm in no hurry to pay off my mortgage with a rate of 2.75%. I'll keep that money invested in the market, and with even modest returns of 8% or so, just the earnings on the investments will entirely pay for the house. You have to have some cushion to ride out a downturn in the market to do this and/or income adequate to pay the mortgage in the meantime, but it's just hard to pass up money at these historically low mortgage rates.
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Old 10-26-2021, 09:50 AM   #24
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Modest return of 8% ? Where do i sign up ? Might be modest this year, but would take that every year.
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Old 10-26-2021, 12:23 PM   #25
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The stock market has returned 10% annually over the past 100 years, and almost 11% per year over the past 30 years. Obviously any year can vary, sometimes dramatically, from that, but to "sign up" simply invest in a broad-based stock market fund. I say 8% is modest since that would be 2 to 3% less than the stock market average and requires only about half of your portfolio in equities (stock) and the other half in fixed return assets (bonds, municipal funds, etc.). Over time, it's not much of a stretch to realize an 8% annual return with just a moderately aggressive portfolio.
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Old 10-26-2021, 04:00 PM   #26
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Originally Posted by chuckwhanson View Post
The stock market has returned 10% annually over the past 100 years, and almost 11% per year over the past 30 years. Obviously any year can vary, sometimes dramatically, from that, but to "sign up" simply invest in a broad-based stock market fund. I say 8% is modest since that would be 2 to 3% less than the stock market average and requires only about half of your portfolio in equities (stock) and the other half in fixed return assets (bonds, municipal funds, etc.). Over time, it's not much of a stretch to realize an 8% annual return with just a moderately aggressive portfolio.
I have a close Union Carpenter friend who cannot wrap his head around why I invest in the market. He doesn't understand why I would risk losing money when I show him a chart like this.
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Old 10-26-2021, 07:36 PM   #27
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Hmmmmm

Quote:
Originally Posted by Allan Bornestig View Post
Then it was the farmer who won a million dollars on the lottery.
One of his friends asked.: Hey Bill, what are you going to do now when you won a million dollars.?
The answer was: I guess I keep farming until it's all gone.!
Reminds me of the group of farmers setting in the basement complaining about high equipment costs and low commodity prices. They call that a whine cellar.
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Old 10-26-2021, 08:08 PM   #28
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Good one Dave !
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Old 10-26-2021, 09:30 PM   #29
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Hi Johnny
Do you know why farmers wear their ballcap with a tightly rolled bill?
So they can stick their head in the mailbox to get the next government check.
Iowa Dave
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