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Reply to "Home value and retirement planning"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] Isn't that the way it is supposed to work? You pay the mortgage while you are working so that when you retire, it is paid off. Mortgages are for 15-30 years, not 50-75. The only people I know who plan to carry a mortgage in retirement (beyond the first few years) have made poor financial choices along the way. [/quote] this makes me think you don't know a lot of people outside your tax bracket[/quote] Wrong, I know people who live within their means and buy smaller and when they refi they pay it so that it doesn't extend their years of mortgage. If you constantly refi and extend the length of your loan and never pay it back, it is really renting.[/quote] It's all fine and good that this is your belief WRT to mortgages, but that has zero to do with whether mortgages/home equity are factored into retirement for most people. Or, ditto the PP above - you don't seem to know a lot about people outside your bubble.[/quote] The question is ridiculous.. How can you eliminate housing choice from ones retirement planning? Tell me, how do people know someone outside of their "bubble", if they know them, wouldn't they be in their "bubble"? [/quote]
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