What affected your net career income most?
05-29-2020, 08:34 AM
#61
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Joined APC: Mar 2015
Position: stake holder ir.delta.com
Posts: 10,459
For me it’s about targeting a payoff date. I don’t refinance because of upfront costs and paying extra principal has the same affect of reducing net interest paid. I think I’m at 3.25% but that’s on a 100% VA loan that will be paid in a total of 18 years instead of the 30 year term. No down payment allowed for that money to be invested elsewhere.
05-29-2020, 08:37 AM
#62
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Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
^^^^^^^^^
There are plenty of safe investments with returns above 3%. Rather than pay off our mortgage, we're investing an equivalent amount in real estate with non recourse financing. The cash on cash returns more than cover the mortgage, plus we are building equity from principle reduction and possibly appreciation over the long term holding period. I'm a fan of Dave Ramsey right up through baby step 6, where he says to pay off the house.
There are plenty of safe investments with returns above 3%. Rather than pay off our mortgage, we're investing an equivalent amount in real estate with non recourse financing. The cash on cash returns more than cover the mortgage, plus we are building equity from principle reduction and possibly appreciation over the long term holding period. I'm a fan of Dave Ramsey right up through baby step 6, where he says to pay off the house.
) new tricks. That’s what my financial guy was saying, I could make more money by investing it vs paying off my mortgage. My rate is 2.75% and I’ll have it paid off in 3 years or before. For me, at this stage, I just want to go into retirement with no debt. More of an emotional decision but so be it.
Denny
05-29-2020, 08:40 AM
#63
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Thread Starter
Joined APC: Dec 2019
Posts: 193
[QUOTE=tennisguru;3066411]...until your job is at risk. I guarantee the people with no debt whatsoever are a lot less concerned over potential pay cuts or job losses than people with house and car payments to make each month. They're also not too concerned in this situation over the investment returns they "missed" over the past few years either.[/QUOT
If you are discussing whether or not to carry mortgage debt as a choice into retirement then you probably aren’t in jeopardy of losing your job because with few exceptions you are not in the bottom 3500 pilots. Unless you are independently wealthy buying a home when you are young without debt isn’t usually an option.
If you are discussing whether or not to carry mortgage debt as a choice into retirement then you probably aren’t in jeopardy of losing your job because with few exceptions you are not in the bottom 3500 pilots. Unless you are independently wealthy buying a home when you are young without debt isn’t usually an option.
05-29-2020, 08:47 AM
#64
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Joined APC: Jun 2015
Posts: 4,116
Hard to teach an old dog (me) new tricks.
That’s what my financial guy was saying, I could make more money by investing it vs paying off my mortgage. My rate is 2.75% and I’ll have it paid off in 3 years or before. For me, at this stage, I just want to go into retirement with no debt. More of an emotional decision but so be it.
Denny
) new tricks.That’s what my financial guy was saying, I could make more money by investing it vs paying off my mortgage. My rate is 2.75% and I’ll have it paid off in 3 years or before. For me, at this stage, I just want to go into retirement with no debt. More of an emotional decision but so be it.
Denny
Not to buy toys....but to maybe to buy delta at $23 and sell at $50. 😆
05-29-2020, 09:03 AM
#65
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Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
Denny
05-29-2020, 09:19 AM
#66
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Joined APC: Apr 2007
Posts: 4,636
Hard to teach an old dog (me) new tricks.
That’s what my financial guy was saying, I could make more money by investing it vs paying off my mortgage. My rate is 2.75% and I’ll have it paid off in 3 years or before. For me, at this stage, I just want to go into retirement with no debt. More of an emotional decision but so be it.
Denny
) new tricks.That’s what my financial guy was saying, I could make more money by investing it vs paying off my mortgage. My rate is 2.75% and I’ll have it paid off in 3 years or before. For me, at this stage, I just want to go into retirement with no debt. More of an emotional decision but so be it.
Denny
That's speculation more than investing. Gutsy move.
05-29-2020, 09:27 AM
#67
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Joined APC: Jul 2014
Posts: 429
?Start with nothing. Work butt off. Save 20% of gross for most of career. Much higher % in later years. Keep first wife who only wants a house that is 8.5% of net worth. Either that or start as a multi millionaire. Have a great day Denny! Retired OFG
05-29-2020, 10:19 AM
#68
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Joined APC: Feb 2012
Posts: 739
05-29-2020, 10:26 AM
#69
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Joined APC: Sep 2008
Position: Kickin’ Back
Posts: 6,971
I hope you are enjoying retirement. I like/enjoy my job but am looking forward to not having to do it any more. Unfortunately it just doesn’t make financial sense to do it until 65............but with a decent ERP that has medical......I’d be very tempted.
Denny
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