Ther were some good old days at C&D, for sure. But I haven't even picked up a copy in a Doc's office for a long time, let alone subbed. They just lost their way, and just kinda lost me...
If you can pay cash and not borrow against your home's false value, or your family's financial security, then great. But remember something, the sins of the father are visited upon the children. My parents, especially my dad, always bought (especially cars) whatever they wanted along the road of life. Now they are both old and somewhat destitute for lack of planning for their future... I learned so much (and avoided trouble) by watching their mistakes. I bet your son will learn from yours.
I had to explain my Corvette to a non car guy, and when I could see that he did not understand my explanation of how it feels to drive it, simply said, “it puts a smile on my face, every time.”
Yeah, I built my own home here on the ranch about27 years ago, and the banker NEVER said anything to me about any endless supply of checks. In fact, he kind of hinted that maybe I'd better call him for approval before I wrote any of the handful he gave me!
For all the folks who are thinking about the "why plan for a future that is uncertain at best, and at worst, that I might not even live long enough to attain?" - just bear in mind that a LOT more of us get to that place than not. If you spend it all now thinking you might not live to use it later, you'd better be right. Yes, some folks die young. But statistically, more folks don't.
@Tinkerah said he has a mild fear of outliving his resources. Better that than the other way 'round, man! I've known way too many folks who've not planned for those days when reflexes are slower and pains start up as soon as they turn out of bed and have/are living miserably because they "did it then when they could".
I get that we should enjoy what we can when we can. I really do. But there is a great deal of joy in living your latter years with some security, too! All I'm saying is look for balance.
I'm sorry DUB6, what I tried to say was I'd rather not leave too much behind when my time is up. Since I have no heirs (and my wife makes more than I do) I think it'd be ideal to have a bank balance of zero and all my toys completely worn out on the day I pass. Of course there are too many variables in play so I'm not stressing about it but I think that's a worthy goal. Bonus points for anyone who takes out a 30 year loan in their last years though!
@Tinkerah, yeah, I read your original post right, and then typed my response wrong! I knew what you said, and later after I read my post, I did a Homer Simpson forehead slap.
But I think I have a solution for you. Have your attorney contact my attorney and we can get things drawn up so that after you and Mrs. Tinkerah are gone (hopefully MANY years from now), all of the leftover resources and assets (especially the Camaro) go to me. Then you don't have to concern yourself with during through everything during those last days. I'm all about problem-solving! 😉
Thanks for taking the fall DUB6 - I try to imagine all the ways my musings might be misinterpreted before hitting the Blue Button and am still occasionally surprised. And though you are a thoughtful problem solver, I hope the day when your solution would come into play will be so far in the future none of us will remember what the problem was!
My mortgage finishes when I’m 90, and couldn’t be happier! Fixed “rent” for the rest of my life, and I’m paying that rent with inflated dollars. All the financial planners always say to retire with a paid off house, but who wants all that money in bricks and mortar when it can be put to much better use in a stick shift convertible? There’s satisfaction in owning a house, but grin inducing happiness in owning a convertible!
Don’t follow the herd, follow your bliss.