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Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Relationship Of Non-Income Producing Assets||Date: 2/6/2000 11:06 PM|
|Author: Tomcat98||Number: 3244 of 709929|
What a timely post. For my wife and I we like owning a home. I have a question about trading up to a larger house.
Our current home is nice. Our Equity is about $40k of a value total of $160K. We are thinking about buying another home that is a lot larger. This would be a house that would be our final home. We plan on retiring in 10 years. This house is $260k and we would put down 20%. Looking at what it would cost us in future investment earnings is about $220K over the 10 year period. Looks like our projected investment portfolio would be $750k at the end of the 10 year period.
My question really centers around is it wise to make that plunge now or wait til 10 year point? I think about the higher housing cost and that bigger point further out in the future.
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