Buffett & Munger nail it once again. Do NOT chase that "dream house"!

[CrazyTrader55]

Loading…

www.yahoo.com

Both guys lived in a relatively modest, paid off house for their entire lives. Buffett still lives in the same house he bought in 1958. Stop trying to keep up with the Joneses, stop living above your means. Pay off a small house as quickly as you can and invest the rest of it. Live below your means, and retire early. Simple.

 

[rightwinger]

I think you should buy what is achievable when you buy your first house.
Finances may be tough the first few years but it will get easier.
Buy a tiny house and you will regret it the rest of your life. Your house will not accrue value as much as a larger house and you will be stuck with a house that doesn’t meet your needs or in a neighborhood you do not like.

 

[CrazyTrader55]

I think you should buy what is achievable when you buy your first house.
Finances may be tough

what does that mean?

 

[rightwinger]

Pay off a small house as quickly as you can and invest the rest of it

A house is a better investment than anything you can get in the financial sector.

Invest $100,000 in the market and if it goes up 10 percent in a year you have made $10,000 profit

If you invest $100,000 in a $400,000 house and it goes up 10 percent you have made $40,000

 

[Crepitus]

Loading…

www.yahoo.com

Both guys lived in a relatively modest, paid off house for their entire lives. Buffett still lives in the same house he bought in 1958. Stop trying to keep up with the Joneses, stop living above your means. Pay off a small house as quickly as you can and invest the rest of it. Live below your means, and retire early. Simple.

Anyone looking to saddle him/herself with half a mil in debt in the current climate is playing with fire in a big way.

 

[rightwinger]

what does that mean?

What that means is if you buy your first house and it is less than you can afford, you will end up with a house that is smaller than you need or in a bad neighborhood.

Buy what you can qualify for and get what you want.
It will be tough at first but will get easier over time.

Sorry Warren, but I would rather enjoy the home I live in than look at my stock portfolio every month

 

[rightwinger]

Pay off a small house as quickly as you can and invest the rest of it. Live below your means, and retire early. Simple.

I am not so sure…
After 30 years that smaller house will not have accrued as much value as a larger house.

Your retirement nest egg will be smaller and I am not sure your stocks will make up the difference

 

[CrazyTrader55]

I am not so sure…
After 30 years that smaller house will not have accrued as much value as a larger house.

Your retirement nest egg will be smaller and I am not sure your stocks will make up the difference

I'm following Buffett & Munger's advice.

 

[okfine]

Loading…

www.yahoo.com

Both guys lived in a relatively modest, paid off house for their entire lives. Buffett still lives in the same house he bought in 1958. Stop trying to keep up with the Joneses, stop living above your means. Pay off a small house as quickly as you can and invest the rest of it. Live below your means, and retire early. Simple.

Charlie Munger did not live in a modest house. As a matter of fact, he owned 3 houses in Sea Meadow in Montecito, where he died. That complex of 30 homes was built in the late 1980's. He was the developer. You don't have a fn clue. Same goes for the bullshit stories everyone is made to believe. Like his Pasadena house.

 

[CrazyTrader55]

Charlie Munger did not live in a modest house. As a matter of fact, he owned 3 houses in Sea Meadow in Montecito, where he died. That complex of 30 homes was built in the late 1980's. He was the developer. You don't have a fn clue. Same goes for the bullshit stories everyone is made to believe. Like his Pasadena house.

Buffett does.

 

[rightwinger]

I'm following Buffett & Munger's advice.

Good

You will not become a billionaire and I will have a better house

 

[okfine]

Buffett does.

You be the fool. Ok by me.

 

[westwall]

Loading…

www.yahoo.com

Both guys lived in a relatively modest, paid off house for their entire lives. Buffett still lives in the same house he bought in 1958. Stop trying to keep up with the Joneses, stop living above your means. Pay off a small house as quickly as you can and invest the rest of it. Live below your means, and retire early. Simple.

Buffet has his small house that he uses for propaganda purposes, but his real home is a palatial mansion.

He's a liar just like everyone else.

 

[CrazyTrader55]

Good

You will not become a billionaire and I will have a better house

You have your big house. I'll be retiring early. Your choice!

 

[okfine]

Buffet has his small house that he uses for propaganda purposes, but his real home is a palatial mansion.

He's a liar just like everyone else.

You are 100% correct. It's all a facade. Both those guys were alike. Laughing all the way to the bank.

 

[rightwinger]

You have your big house. I'll be retiring early. Your choice!

But will you really retire earlier?

When you look to retire and sell your tiny house in a bad location you will not get as much as someone with a desirable house in a good neighborhood.

 

[CrazyTrader55]

But will you really retire earlier?

When you look to retire and sell your tiny house in a bad location you will not get as much as someone with a desirable house in a good neighborhood.

I will be retiring about 4 to 5 years early and living in the same small house I have lived in, in the same good neighborhood, for decades.

 

[rightwinger]

I will be retiring about 4 to 5 years early and living in the same small house I have lived in, in the same good neighborhood, for decades.

I retired at 61 and live in the same house I bought in 1987.
It was a financial stress at the time and we had to do without for quite a few years.
But the house I paid $162,000 for is now worth $600,000
Much more than if I had bought a smaller home in a less desirable location