Anonymous
Post 07/22/2022 18:05     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
If you've ever read the Millionaire Next Door, there's an argument that you should reach for the most expensive home you can find (or at least the least expensive house in the most expensive neighborhood you can afford). Borrow as much of the purchase price as you can to free up as much of your monthly income as possible to invest it in stocks. Spend as little as possible on everything else -- drink Budweiser, drive used cars, etc. You'll getter richer that way. Whether you're happier is another story and probably depends on who you are and what matters to you most.
Anonymous
Post 07/22/2022 18:04     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:We do too. And to blow OP’s mind even further, in addition to our 15-year mortgage and IKEA furniture, we drive a BMW and fly in first class.


IKEA furniture is very low quality. A BMW is not.


Says you. Guarantee my Ikea furniture is lasting longer than your bmw does. Also, way to go wasting your money on a depreciating asset. Not sure what you are proving here. Do you also like to heat your home by burning money?
Anonymous
Post 07/22/2022 18:03     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:Are we way off base, here?
No, you're just a pompous ass. Seriously. And your observations have nothing to do with mortgage terms.
Anonymous
Post 07/22/2022 18:01     Subject: Re:If you don't have a 15 year mortgage, you're living beyond your means?
We could not afford a 15 yr mortgage. Good for you I guess.
Anonymous
Post 07/22/2022 17:59     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:We do too. And to blow OP’s mind even further, in addition to our 15-year mortgage and IKEA furniture, we drive a BMW and fly in first class.


IKEA furniture is very low quality. A BMW is not. Why not elevate all aspects of your lifestyle to the same level? I just don't get the people that own $3M homes and then have a dining room set that only costs $5K made of veneer furniture sitting on a machine-made oriental rug from COSTCO. Or the people that live in suburban McMansions and then fly coach for vacation. Or the people that drive Range Rovers but can't afford a long weekend at the Inn at Little Washington.


My parents are an interesting case. They have two homes, with no debt, valued at likely $8 million+ yet my mom drives an 8 year old Subaru and my dad a used car. They often fly private but my mom will shop in consignment stores but she does have a nice wardrobe. My dad won’t spend money on new golf clubs or clothes but he donates tons to charity. They can afford any new car out there or just about anything else but they spend their money their way, not some keep up with the Jones’ way. I’m thankful that I have inherited some of their “what’s important thriftiness”.
Anonymous
Post 07/22/2022 17:58     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
It sounds OP doesn't like other people having a more expensive home than him. His focus on stuff inside his house seems like a weird attempt to compensate for that.
Anonymous
Post 07/22/2022 17:47     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
What's wrong with Reheboth and Ikea? If the value of the house is over 750K, we can't do these poor people things? Most suburb houses are over 750K.

I own my house outright and like Ikea and my car is $25K new.
Anonymous
Post 07/22/2022 17:30     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Home many in DMV actually have a 30 year mortgage?!? DH and I have a 15 year at 2.25%. Of course, we could have gone with a 30 year and invested the savings in the stock market, but how many people actually do this? Most of my friends have homes worth twice ours, but they have an HHI that is maybe 1/2. Most of our neighbors with similar home values are sporting used Toyotas, unkempt yards, IKEA furniture, and vacations to Rehoboth. Meanwhile, we have BMWs, several millions in savings, well manicured gardens and maintained home, heirloom Stickley furniture, and multiple int'l vacations per year in first class. One of our neighbor's trees fell down 2 years ago near the edge of our property line and they still haven't removed it. They want to split the $800 cost for removal. For real?!? Are we way off base, here?


You sound like a complete and total jerk.


Absolutely either a troll or Jerky McJerkface.

We paid cash for our house, our newest car is a 9 year old Subaru, and our furniture is mostly from Craigslist. What are we? 🤪


You are a bad investor. If you are young and could have gotten a mortgage at 2% or so the cash you spent on your house would have been better used in the stock market over the past ten years. But if you are retired being debt free is understandable.
Anonymous
Post 07/22/2022 17:24     Subject: Re:If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:I think it is dumb to tie yourself to a 15-year mortgage. Get a 30-year mortgage and make double payments. This gives you flexibility if, for example, one or both of you lose your jobs and you have cash flow problems for a month or two. Apparently your idiotic plan worked out for you and your husband, OP, but it isn't the best choice.


OP, here. Why would either of us lose our jobs? We're both highly sought after and star workers? Besides, we have a 12-month+ safety net in liquid savings outside retirement. Just feels like people in DMV are way too invested in their homes, many house poor, and not diversified enough across a balance of assets, amenities, and experiences.


OP the PP is right. It is so easy to add extra payments no one needs to take a 15 year one

Please learn math and percentages and interest rates seriously.

Ikea furniture omg I love Ikea and I live in a home that is worth north of $10 million and own multiple homes outright. Take trips as you do on a private plane yeah upped you on that one and like PP said your plan is "idiotic". We have never lived hand to mouth or overspent ever. I come from very poor background money is safe to me it means my family has food on the table. I buy things on sale. I use coupons, and I never ever buy a top-of-the-line car. A CRV ends up at the same place as a Range Rover. All of this is my choice.

I say this all with a grain of salt. I in no way do not understand how lucky we are.




Anonymous
Post 07/22/2022 17:23     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Absolutely either a troll or Jerky McJerkface.

We paid cash for our house, our newest car is a 9 year old Subaru, and our furniture is mostly from Craigslist. What are we? 🤪


Frugal. Unless your house is worth $750K+. In which case, you're living beyond your means, as you can't afford vehicles and furniture commensurate with the caliber of your home. Original assertion proved. Case closed.


Or PP just doesn’t care about spending a lot of money on cars. My parents have a $2+ million apartment in Manhattan and when they did own a car, it was a Prius.


There are assets that appreciate and assets that depreciate. You invest in them DIFFERENTLY, OP.
Anonymous
Post 07/22/2022 17:21     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:
Anonymous wrote:Absolutely either a troll or Jerky McJerkface.

We paid cash for our house, our newest car is a 9 year old Subaru, and our furniture is mostly from Craigslist. What are we? 🤪


Frugal. Unless your house is worth $750K+. In which case, you're living beyond your means, as you can't afford vehicles and furniture commensurate with the caliber of your home. Original assertion proved. Case closed.


Or PP just doesn’t care about spending a lot of money on cars. My parents have a $2+ million apartment in Manhattan and when they did own a car, it was a Prius.
Anonymous
Post 07/22/2022 17:21     Subject: Re:If you don't have a 15 year mortgage, you're living beyond your means?
Good God OP, you are insufferable “star performers who are sought after”. Yuck! Get off your high horse! Why don’t you move to a neighborhood with people like you and do your current neighbors a favor.
Anonymous
Post 07/22/2022 17:19     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
Anonymous wrote:Absolutely either a troll or Jerky McJerkface.

We paid cash for our house, our newest car is a 9 year old Subaru, and our furniture is mostly from Craigslist. What are we? 🤪


Frugal. Unless your house is worth $750K+. In which case, you're living beyond your means, as you can't afford vehicles and furniture commensurate with the caliber of your home. Original assertion proved. Case closed.
Anonymous
Post 07/22/2022 17:15     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
OP’s other troll thread didn’t get any traction so she’s back at it 🙏
Anonymous
Post 07/22/2022 17:13     Subject: If you don't have a 15 year mortgage, you're living beyond your means?
I have a 30-year mortgage and it will be paid off in 3.5 years.