October 23


Big Moves and Mortgages

Recently, I’ve started listing some of my good ‘ol niche sites for sale.

Ones that are making some money, but not enough to make a huge difference (think anywhere from $50 to $1000 a month).

Reason why I’m doing this is simple:

I want to be making bigger moves with my life. Real estate. Real e-commerce brand (I’m no longer involved with the olive oil company, just as an investor). Another project I’m working on here in Ukraine. I needed to trim the fat, you know what I mean?

Also, there’s a good chance…

You might be in a similar boat.

This doesn’t just apply to business, either. It’s life.

All of us are guilty of, at one point or another, focusing on too many things, and the consequence is that we never become successful with the endeavors that really, really matter in the long term.

Does this sound like you?

If so, leave a comment below.

Anyways, Let’s Chat Mortgages

I have a bunch of retirement funds because I worked for a bunch of companies from ages 16-24.

I’m cashing out some of them to make some big purchases.

Between Taxes + “Company Vesting”…

…you realize how little of the money you make with a paycheck really comes to you.

Honestly can’t see how people who work the typical 9-5 grind for 40 years manage to have any sort of life after.

If you work for 40 years at $75k a year you’ll get maybe $2,000 a month from Social Security.

  • Is that even enough to pay most people’s mortgage…?

Honestly the “safe” way of living life, putting money into a 401k and depending on it and Social Security…

Depends on the banks making good investments for you, seems a dodgy strategy at best.

I’m not gonna say I’m an expert but it doesn’t add up.

If you have an average annual salary of $75,000 and you save 10% of it starting at age 21 (lol), with a 5% return you will have 1.5 million by the time you retire age 65. Divide that across 20 years that it’s $6,300 a month + whatever Social Security you get.

Probably the big issue I see is that most people I know who are nearing retirement age (mid-50s, let’s say) are nowhere near paying their home off.

Lot of people refinanced in recent years.

Another unfortunate problem is that people my age are woefully uneducated in any sort of finance.

If you take out a 30 year loan at 3% for a $500k house, you end up paying over $750k for it.

Do you think your average college student comprehends that?

Me thinks no.

Anyways, lots of more thoughts about this to come.

What are yours?

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