The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Relationship Of Non-Income Producing Assets||Date: 2/7/2000 3:33 AM|
|Author: jpkiljan||Number: 3250 of 841443|
Tomcat wrote and jpkiljan replied:
". . .
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."
This is a great question and the answer depends upon so many things that you didn't mention like the size of your family (present and future), kids to put through college, typical housing costs in your market, your ages, and why you'd want to retire and live in one house for 30 more years