Reply to I don’t understand how my neighbors are paying for their renovation

Forum Index » Money and Finances

Reply to "I don’t understand how my neighbors are paying for their renovation"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]I think questions like this are fair.  We all want things we can't afford so when we see someone who appears to be doing something very expensive compared to what they appear to earn it kind of begs the question "what am I doing wrong that I can't afford the same or similar thing."

But to your question OP, I'd imagine the key is a gifted house and the only thing they're paying for is the renovation.  Even if the house isn't gifted entirely, whatever they paid is likely much below market rate, or they're paying their parents directly and that is a whole lot easier than paying a bank who could take the house if you miss a payment.[/quote]

Also, a gifted or deeply discounted family house is “family help.”  [color=darkred]So is cash to purchase stock at a young age. [/color] Or a down payment on a condo that can be sold later.  The people who insist these things don’t matter tend to be the ones who benefit from them; the downside of that is being completely out of touch with the reality of most other people.  It’s great to accept family help, if you have it offered - just own that.[/quote]

“So is cash to purchase stock at a young age.”

Huh? You can open a brokerage account with no money. Start small buying stock in small increments or invest in index funds with very little money. Reinvest dividends. Wash, rinse, repeat. You can literally start with less than $50/month and increase as your income increases. Instead of buying expensive coffee at Starbucks, put the money you would have spent in the market. Let time and compounding work its magic.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics