Better To Own A Home
10. Keep thinking about tomorrow.
Are you in the best possible career for the rest of your working days?
Should you make a switch? Is your current job in danger?
Set a date every few months to do a career review with a spouse, partner or friend.
11. Your living standard is your bottom line.
Simulate its potential paths based on alternative investment and spending strategies to see where these strategies can land you.
14. No free lunch.
All lifestyle decisions — switching careers, moving homes, getting married, having kids, getting divorced — come at a price.
Measure these prices in terms of your sustainable living standard.
5. Owning a home can reduce longevity risk.
Since you are neither buying nor selling your home, who cares what the housing market does? Your housing consumption is guaranteed through the end of your days.
20. Most conventional investment advice is, to be nice, of dubious value.
It’s predicated on you making four major economic mistakes:
- Saving the wrong amount when younger,
- putting your preretirement savings on autopilot,
- spending the wrong amount when you’re older, and
- never adjusting to market conditions.
21. If you’re worried about downside risk, play the stock market like a casino.
Think of the investment in stocks as cash you take to the casino:
Don’t spend a penny of your winnings, if you make any, until you’ve left the building.
Or, in other words, don’t put more money into the stock market until your initial bets are safe from losses.
