What affected your net career income most?
05-29-2020, 10:55 AM
#71
Gets Weekends Off
Joined APC: Jan 2007
Position: 7ERA
Posts: 1,232
^^^^^^^^^
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.
We paid off our house about a year ago. I thought long and hard about it, and my financial advisor told me not to do it. I did it anyway, and honestly was having second thoughts. Then coronavirus hit and I was worried about Delta going under. Having no mortgage payment to make sure helped me sleep at night. Was it a smart financial decision? Probably not. But it helps my peace of mind.
05-29-2020, 11:23 AM
#73
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,850
We paid off our house about a year ago. I thought long and hard about it, and my financial advisor told me not to do it. I did it anyway, and honestly was having second thoughts. Then coronavirus hit and I was worried about Delta going under. Having no mortgage payment to make sure helped me sleep at night. Was it a smart financial decision? Probably not. But it helps my peace of mind.
And of course your advisor's butt isn't going to be stuck paying your mortgage if you lose your job. That peace of mind is worth more than the potential gains of investing instead, plus if you now invest your old house payment on top of what you were already doing you will be quite set financially.
05-29-2020, 11:23 AM
#74
Moderator
Joined APC: Jul 2006
Posts: 5,817
^^^^^^^^^
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.
05-29-2020, 12:04 PM
#75
Gets Weekends Off
Joined APC: Jun 2015
Posts: 4,116
Avoid divorce.
The loss of economic momentum and dilution of future income streams is disasterous.
I started all over at 42 with only my paycheck and a rack in the attic of a crash pad shared with 2 other deltoids.
Unless you are a guy who does not have and does not expect to ever have any income. Or assets. In that case do it as often as you please. 😁
The loss of economic momentum and dilution of future income streams is disasterous.
I started all over at 42 with only my paycheck and a rack in the attic of a crash pad shared with 2 other deltoids.
Unless you are a guy who does not have and does not expect to ever have any income. Or assets. In that case do it as often as you please. 😁
05-29-2020, 12:19 PM
#76
Line holder
Joined APC: Nov 2013
Position: On the bus,seat 0A
Posts: 3,332
Sat next to a guy at a charity dinner for the local elementary school, about 45 years old. He was talking about his boat in SAN, his condo in Vail, told me he was a lawyer, I asked him if he liked his job. He told me he hated every minute of it.
05-29-2020, 12:56 PM
#77
Gets Weekends Off
Joined APC: Apr 2018
Posts: 3,246
Avoid divorce.
The loss of economic momentum and dilution of future income streams is disasterous.
I started all over at 42 with only my paycheck and a rack in the attic of a crash pad shared with 2 other deltoids.
Unless you are a guy who does not have and does not expect to ever have any income. Or assets. In that case do it as often as you please. 😁
The loss of economic momentum and dilution of future income streams is disasterous.
I started all over at 42 with only my paycheck and a rack in the attic of a crash pad shared with 2 other deltoids.
Unless you are a guy who does not have and does not expect to ever have any income. Or assets. In that case do it as often as you please. 😁
. I'm squarely in the furlough zone, but sleep very well at night knowing I don't have to provide for a family.
05-29-2020, 01:47 PM
#78
Gets Weekends Off
Joined APC: Jun 2015
Posts: 4,116
05-29-2020, 02:01 PM
#79
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,636
05-29-2020, 02:16 PM
#80
Gets Weekends Off
Joined APC: Apr 2018
Posts: 3,246
Here you go... The Predatory Female
Live within your means, no consumer debt, don't get divorced/married, and hope you have good timing and get on at the front of a hiring wave during a good time in the airline industry. Easy!
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