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US raises interest rates - dollar strengthens

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    #11
    Originally posted by clearedforlanding View Post
    Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.
    Yes I know that. I've always been too conservative and risk averse to be a good investor.
    Can't retire unless you have at least 5

    But being an economist isn't the answer. Which economist has ever got it right?
    Hard Brexit now!
    #prayfornodeal

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      #12
      Originally posted by clearedforlanding View Post
      Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.
      IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.

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        #13
        Originally posted by jamesbrown View Post
        IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.

        I remember when I first started contracting and was told the only wise words I have ever really heard from a financial advisor: Do not count your main residence as an asset.

        It is a shame how many people are oblivious to this.

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          #14
          Originally posted by jamesbrown View Post
          IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.
          TBH if you're over 40 and live in London and have had a professional wage most of your life and haven't got a million pound house mostly paid for, you really have been an idiot.
          Hard Brexit now!
          #prayfornodeal

          Comment


            #15

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              #16
              Originally posted by clearedforlanding View Post
              I remember when I first started contracting and was told the only wise words I have ever really heard from a financial advisor: Do not count your main residence as an asset.

              It is a shame how many people are oblivious to this.
              Bollux. Provided it's all paid for and not your main inveistment for retirement, it most definitely is an asset.

              why wouldn't it be?
              Hard Brexit now!
              #prayfornodeal

              Comment


                #17
                Originally posted by sasguru View Post
                Bollux. Provided it's all paid for and not your main inveistment for retirement, it most definitely is an asset.

                why wouldn't it be?
                Because you need somewhere to live.

                It is only an asset when you exit the market.

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                  #18
                  Originally posted by clearedforlanding View Post
                  Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.
                  My ex-wife tells me that everytime she calls me for some more payments...

                  Comment


                    #19
                    Originally posted by clearedforlanding View Post
                    Because you need somewhere to live.

                    It is only an asset when you exit the market.
                    Having a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.
                    Hard Brexit now!
                    #prayfornodeal

                    Comment


                      #20
                      Originally posted by sasguru View Post
                      Having a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.
                      Have to agree on this one. You cannot even think of retiring without having a paid off house (or preferably 10).

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