Reply to Retirees living off their investments in expensive resort towns

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[quote=Anonymous][quote=Anonymous]OP here. It's not worth focusing on the "flyover country". The point is that these retirees are able to live the high life because of their ample investments. Well done, but so many young people are not and will not be able to accumulate and invest as much. Just look at the mortgage interest they are paying, if they are lucky enough to become homeowners. [/quote]

No they most likely did very well on their home purchase in California and higher salaries with 401k. People in flyover country do not have the same return on property. For example in flyover country you buy a house from 70k in 1990 and sell it for 190k in 2023 vs California 215k(average house price in 1990) and sell it in 2023 750k(average house price). So higher return on a larger amount of money. Same with 401k before tax 10%(though about 75% of people do not have access to a 401k). People on the coast have higher average salaries and more likely to have a 401k.

The people you are seeing most likely did a lot better vs average. Like bought a home for 200k and sold it for 5 million plus. This happened to a fair amount of people I know. They were just in the right place at the right time.[/quote]

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