What'dyabringmetoday???
Well-Known Member
Yeah- never thought of that idea. Guess I'll go borrow a bunch of cash. Thanks for the idea.
Making More Money Now Than When I was Working Full Time - On Topic
- Thread starter olroadbeech
- Start date
1989
Well-Known Member
Better hurry, it won't be free forever.
UpstateNYUPSer(Ret)
Well-Known Member
It's amazing that my personal financial situation is none of your business; however, if you must know, I bought the condo shortly after my divorce. I started with a 30 year VA mortgage, refinanced to a VA 15 year and am currently in an accelerated repayment program which will leave me with just under a $10K balance upon retirement, which I intend to either satisfy as part of my 401k rollover or from the proceeds of the sale.
Bingo!
What'dyabringmetoday???
Well-Known Member
Ok- thanks for all the great advice. So- ow
Said the guy who sticks his nose into everyone else's affairs. Guess it's different when it's The Great UpstateNYUPSer. You fellas go ahead and believe that you are pulling the wool over someone's eyes by having a mortgage. Lol.
olroadbeech
Happy Verified UPSer
also depends on housing market in your area. our home prices have averaged gains of 9-10 percent or more since 2008. almost doubled using the rule of 72. But, you are right, the market has done slightly better in the same time period.
You will never go broke by being out of debt.
You may not be rich but you will also never have to worry about selling at a loss
1989
Well-Known Member
The more I can leverage the more I can make.
Ok there Mr Buffet..
clean hairy
Well-Known Member
Considering as well, paying off the mortgage with depreciated dollars.
What could a person buy with $100 30 years ago? That same $100 will buy less today.
My first apartment (1979) furnished was $175 per month including utilities.
Today, same apartment, unfurnished, and no utilities included, $550 per month.
Shiftless
Well-Known Member
I have always even as a young adult, prior to working as a driver, and working as a driver and post retirement had my fingers in or on something keeping me busy. Like the OP, I do something similar as a hobby as an old retired good fur nuttin bum that has had its moments of making great monies doing what I do in retirement. I consider it a hobby that I really enjoy that magically makes moola out of old stuff. I have few other friends that retired and do the same with their hobbies and passions. The "KEY" to retirement is to "STAY friend-ING BUSY!" and NO I aint gonna tell you what the friend I do! Figure out your own Shift, and get at it if you like it!
twoweeled
Well-Known Member
Great isn't it? Haven't regretted it, a bit! I have yet to meet anyone who regrets it.
dudebro
Well-Known Member
You might be full of snark with this comment, but, you realize, the richest people in the world, and the banks, do EXACTLY this. They call it arbitrage, or a hypothecation loan, to make it sound cooler (and shorter) than borrowing cash at 3% (minus tax deductions on interest) and making 6% or more on it.
Or maybe you might have noticed your local bank will lend you money at 3% or more, and pay you 1% if you're lucky when you lend THEM money (open a savings account). Arbitrage, my man.
olroadbeech
Happy Verified UPSer
arbitrage can pay 200-300-400 percent or more in the classified market.
all you have to do is buy used things "off season" and then sell them during their season when everyone is buying.
for example. buy lawn mowers, air conditioners , power yard tools , and other summer items in the winter. Clean them up, tune them up , and then have them ready for the summer crowd.
winter items same way. around here generators are like gold during the many power outages we have up in the mountains for just one example.
when everyone else is buying , you're selling and when everyone else is selling. you're buying. Warren Buffet does this with stocks. The richest families in America did this during market panics. You can also do this on a smaller scale.
all it takes is a good eye for a deal, patience, and a little elbow grease , and you can make a small fortune. If I can't make at least 300 % on an item , I don't buy it. We average 400% or more. Our best deals give us 800-1000% profits. Our record is 1700%. That right. we made 17 times our money selling one item. This is not small stuff. I'll buy something for $100 and fix it up in about half a day and resell it for $800-1000 for an example.
arbitrage.....it's what makes the world go round.
all you have to do is buy used things "off season" and then sell them during their season when everyone is buying.
for example. buy lawn mowers, air conditioners , power yard tools , and other summer items in the winter. Clean them up, tune them up , and then have them ready for the summer crowd.
winter items same way. around here generators are like gold during the many power outages we have up in the mountains for just one example.
when everyone else is buying , you're selling and when everyone else is selling. you're buying. Warren Buffet does this with stocks. The richest families in America did this during market panics. You can also do this on a smaller scale.
all it takes is a good eye for a deal, patience, and a little elbow grease , and you can make a small fortune. If I can't make at least 300 % on an item , I don't buy it. We average 400% or more. Our best deals give us 800-1000% profits. Our record is 1700%. That right. we made 17 times our money selling one item. This is not small stuff. I'll buy something for $100 and fix it up in about half a day and resell it for $800-1000 for an example.
arbitrage.....it's what makes the world go round.
What'dyabringmetoday???
Well-Known Member
I'm heading out to borrow as soon as I can. Now- can you give me some advice on what kind of vehicle I should drive, where I should go on vacation, where I should shop, and how to p,an for retirement? Lol!
UpstateNYUPSer(Ret)
Well-Known Member
I hear Altimas are pretty sweet.
What'dyabringmetoday???
Well-Known Member
I don't know if I can afford one. Might have to go borrow a bunch of money. Then I'll be rich. Lol.
UpstateNYUPSer(Ret)
Well-Known Member
Working through your lunch helps.
What'dyabringmetoday???
Well-Known Member
Yes- I have always advocated donating 3.75 hours each week.
Fixed.
