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|Subject: Re: Poll: Your parents...Foolish or not?||Date: 8/29/2003 10:58 AM|
|Author: phantomdiver||Number: 596 of 5068|
I always thought that my parents weren't smart about money, but now I'm thinking that maybe I'm wrong.
They didn't have credit cards until after Dad retired from his 30-year military career. I think they just got a credit card to make traveling easier.
They sold their house in popular Arlington, VA, in 1974 to retire on the Eastern Shore of Maryland. Then they paid off their 30-year mortgage several years early. I thought they were stupid to live in a house made out of money while the stock market was zooming.
I checked www.realtor.com the other day to see what the value of their house was doing. Dang, houses near them have gone up in a big way! I figure they've earned about 8% a year on that house of theirs!
Their financial picture isn't all rosy. But these days, I'm thinking that they were unwittingly pretty smart.
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