Last year our house was literally a hole in the ground into which we poured money. We had to have the pool completely renovated - it had developed a leak in the liner and all the water drained out over the winter. Then we determined that it was time to drill a new well (every 40 years whether you need it or not, I guessNot retired yet but I only look at my investments when it comes to living in retirement. Our house is someplace to live ... we have lost money previously in owning a house and not planning on a reverse mortgage, it is part of our net worth but unless I sell it is tied up. Our house is about 22% of our net worth. I still have a mortgage, refi'ed in 2021 to get a 2 7/8% mortgage and I'm comfortable with the payments with no plans on paying it off.
My plan in retirement which may differ from advice given on this site is to take cash dividends from my investments, use what I need to make up the difference for living expenses that SS and my small pension make up and anything left over either reinvest, keep build up our emergency fund or if a purchase is planned - keep somewhat liquid for that purchase.
In theory it works, until I live it I won't know.
The north side of our lot looked like a wildcatter had moved in.Statistics: Posted by jebmke — Sat Jan 20, 2024 7:23 am — Replies 10 — Views 1034
