Home buying

[Over70irregs]

This is literally the worst advice ever. Never dip into your 401k.

Not so sure. Home prices have gone up so much. Bonds are dead in water. You could have bought and flipped. Timing is important.

 

[olroadbeech]

do you have a blog i can subscribe too?

 

[burrheadd]

do you have a blog i can subscribe too?

Do you understand how the reply function works If not hmu I can help

 

[Over70irregs]

do you have a blog i can subscribe too?

Too funny. I have been working on something.

 

[robot]

Geez. You’re losing out on some much gains taking money out of your 401k for 5 years

 

[olroadbeech]

Geez. You’re losing out on some much gains taking money out of your 401k for 5 years

Yes and No. At the time it was better to own than rent. On this loan you are paying yourself back and using DCA, dollar cost averaging so when the market is down you are buying back more shares.

Plus , on average the housing can make some good gains so you are increasing your equity and not your landlords equity.

It worked out well for us. Our home was bought for 150k.
Now it's worth close to 900k. That's a 600% increase or gains. About 18-20% year on average. Some smart guys at work kept on buying rental housing thru the years and made fortunes.

My 401k did not have those results in same time period. About 8% a year on average.

You do have to do some homework before doing this since everyone's situation is different.

 

[Kingofthenorth]

I was able to take out a loan from the 401k for a down payment. Best part is you pay yourself when paying back the loan over 5 years.

I thought you were a workaholics working 50-60 hours a week? Why did you have to take from your 401k?

 

[Wally]

imagine being so dumb you think not paying into your 401k for 5 years is a great move.

Why pride is Teamsters celebrating?

 

[eats packages]

We in the younger generations certainly got screwed for the time being but things are starting to slow down and even a few price declines to the point where saving these past few years has not been entirely a waste of time. It's a lot easier to swallow higher interest rates with a large savings pool than the vast majority of buyers.

 

[eats packages]

Multifamily and built-to-rent construction completions also appear to be coming online at an ever increasing clip. tides are turning.

 

[olroadbeech]

I thought you were a workaholics working 50-60 hours a week? Why did you have to take from your 401k?

You have too much time on your hands...get back to work.

 

[Over70irregs]

Multifamily and built-to-rent construction completions also appear to be coming online at an ever increasing clip. tides are turning.

Multi fam is a great starting point. Especially if played right

 

[trotsky]

UPS offers the best kind of program to be a home owner. If You stick around long enough and become a RPCD you make enough to afford a great home.

This place isn't worth it anymore.

 

[Thebrownblob]

This place isn't worth it anymore.

Got something better lined up? There’s life after UPS if you don’t like it. Totally understandable.

 

[Over70irregs]

If they slay u they pay u.

 

[clean hairy]

you’re right, Unfortunately most members put everything they do online for everyone to see.

And this is why I do not have social media accounts....

 

[Thebrownblob]

And this is why I do not have social media accounts....

Same here

 

[trotsky]

Got something better lined up? There’s life after UPS if you don’t like it. Totally understandable.

I had a degree when I started almost 30 years ago, wage was more than double minimu. and at that time it was 30 and out with a nice pension. As a young buck today could I do better than ups? Absolutely.

 

[Thebrownblob]

I had a degree when I started almost 30 years ago, wage was more than double minimu. and at that time it was 30 and out with a nice pension. As a young buck today could I do better than ups? Absolutely.

Yep I have a degree as well, many of the people I grew up with Who also have degrees have not had the stability that I have had in the last 30 years. Everything is a trade-off.

 

[Over70irregs]

I had a degree when I started almost 30 years ago, wage was more than double minimu. and at that time it was 30 and out with a nice pension. As a young buck today could I do better than ups? Absolutely.

Do tell