Assisted living? In order to protect any positive family equity for future generations I might just have to ask my family to do the Inuit thing and just leave me out in the snow.I think the ease with which someone doing OK can end up homeless, or the way that medical bills and related expenses can mount up so incredibly fast. People are hyper-sensitized to the realization that, what you have accumulated may determine how much misery you may be subjected to in what seems like a very short time frame. A couple of decades ago, big time executives had no medical options and so (as in the lyrics of "Lucky Man") they just lay down and died. Now, you very often don't have to IF you have the money.
We've simply become a highly monetized society. And I haven't even mentioned the cost of assisted living services.
Carter’s Vintage had a Les Paul owned by someone who played for Lynyrd Skynard. A few years back it sold for around a quarter million. Not something I could do. Supposedly, someone after that was playing it around Nashville.Everything DOES have a value. That value is, always, what someone is willing to pay for it. Nothing more, nothing less.
There was a book published about five years ago titled “The Million Dollar Les Paul”. It talked about the ‘58 - ‘59 Bursts being sold for higher and higher prices. The author’s position was that there would soon be a Burst sold for over one million dollars US.
Anybody heard of that happening yet?
As with eBay, people can LIST items for however much they like. But more experienced buyers look at the COMPLETED listings to see what price comparable items actually fetched at thee time of sale.
OP, I think you got it exactly right. If you sell your home now, where will you live?
FYI, I re-financed my home mortgage last year to take advantage of the market value change. I was able to eliminate PMI and lower my monthly payment, which covered my homeowners insurance increase. Just had to sign some papers. But I didn’t spend any of the recovered cash. I suspected that inflation would hit.
Well, if you really wanted to cash in a possible smart play would be to sell the house now at peak real estate, do the #VanLife thing for a few years until the market drops, and then buy a house again. Ideally in a slightly lower cost of living area. Any market timing is speculation, of course, and you might get stuck paying big capital gains on the initial profit.My house is worth 3x+ what I paid for it 20 years ago. But if I sold it, then what? Invest the money in what? Stocks are taking it in the neck the past year or so, and bonds are akin to burying it in a coffee can in the back yard. Suppose I could put it in a money market account - sort of like burying it in the back yard - and live in a van down by the river dining on Fancy Feast and the occasional dead raccoon.
The problem is that real estate in most of the places I'd consider living has skyrocketed at the same time as my home ... so it's the van down by the river or maybe an upscale version (spelled "motor home") with its own Wifi hotspot. That would enable me to roam the West fishing my sphincter off while still doing the occasional assignment for my clients ... but that would get weird in a hurry. So end of day, I'm staying put. Maybe when I take my dirtnap my kids will enjoy the profits they glean from selling my house, so there's at least that.
Gosh, I'm a little ray of sunshine today. But it's not the first time I've had this conversation with myself.
Duane Allman's Goldtop used on Layla and other songs sold for 1.25 million.Carter’s Vintage had a Les Paul owned by someone who played for Lynyrd Skynard. A few years back it sold for around a quarter million. Not something I could do. Supposedly, someone after that was playing it around Nashville.
Well, if you really wanted to cash in a possible smart play would be to sell the house now at peak real estate, do the #VanLife thing for a few years until the market drops, and then buy a house again. Ideally in a slightly lower cost of living area. Any market timing is speculation, of course, and you might get stuck paying big capital gains on the initial profit.
There's a second problem--he's living in a van. That would be on my list of things that seems eminently doable and romantic when you're young and nutty when you're older.I followed a van life guy on YouTube for years. Nice guy, level headed. He worked in tech - he was able to shower and eat at work but chose a mostly raw food diet - and started with a goal of living in his van until he had saved $100,000 for a house.
Last I saw him he'd hit $100,000 and just kept living in the van cause he was saving like mad. Plus, I'd imagine house prices going up had something to do with his decision.
Only problem is, more and more places are making it illegal to live in your vehicle. So you can't even "hack" the system anymore.
There's a second problem--he's living in a van. That would be on my list of things that seems eminently doable and romantic when you're young and nutty when you're older.
While there's a certain cynical charm to the notion of basing an economy- and in fact a society- on greed, it rather obviously bears within itself the seeds of its own destruction. The country is now virtually owned by corporations, which institutionalize greed without the tempering effect of humanity- to the point that children's lives are dedicated to corporate demands; you need to do this and that to get into a GOOD school and get a GOOD job. Virtually everything is now a consumer product, including the most basic aspects of life that other species are able to handle for themselves; your immediate environment, your food, your recreation, even care of your children. We are constantly bombarded with propaganda on all sides, to the point where it's difficult to know if even your thoughts are your own. All makes me rather glad I won't be around much longer, this is leading to a future that I'd really rather not experience
I try, in my own words, to express these thoughts to other's.
Especially, younger foilks.
Generally, they really don't get it.
They will never experience what it was like before the "corporate takeover."
I respectfully disagree. I'm in my 30s and have worked with many people in their 20s with whom I've had conversations about this very subject. Most of us are very aware of it. We know how screwed we are. There's just nothing we can do about it.
I make almost as much as each of my parents did near the end of their careers and yet I'm never able to have many of the things my parents had. Own a house? Nope, never gonna happen for me. Raise two kids comfortably? Nope, so we decided to not have children. Comfortable retirement? Nope... Will probably work until the very day we die.
It all sucks and there's not a darn thing we can do about it.