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Pastimes : The Philosophical Porch -- Ignore unavailable to you. Want to Upgrade?

To: KatayamaGorobei who wrote (5078)	12/2/2009 1:33:01 PM
From: westpacific	Read Replies (1) \| Respond to of 26251

House paid in full and gold...is insurance. Be sure you bury the gold in your backyard or safe under the garage. Maybe the relic will be nice to look at; but if in survival I offer you a gun with ammo or gold - which would you take? And be sure that house is outside a city, with a big veggie garden; fruit trees and water source...not to mention a stock of wood stacked up for at least one year of winter heating and cooking; amongst other things. To me; the barter will not be gold when the crap hits the fan; but food; wood; goods... I cannot eat gold; I cannot get heat to cook out of gold; I cannot do crap with gold; when I need to survive... Peace of mind is a garden with killer soil ready to produce; fruit trees mature; water source to feed it and house and land the banker cannot take, wood stacked high to cook and heat...that the bankers cannot take. That my friend is peace of mind... If you do not have this; sell your gold and buy it while you can. Not some barbaric relic sitting in a box of steel under the garage! West

To: KatayamaGorobei who wrote (5078)	12/12/2009 5:41:17 PM
From: Investor2	Respond to of 26251

Re: "What's wrong with a house paid in full?" I've had a house paid in full for almost 20 years. There are plusses and minuses to having your house paid in full. The biggest plus is the comfort it provides. It gives you the feeling that it really isn't such a big deal if you lose your job or if your company goes sour for a while. You'll still have a place to live and you can survive on a relatively small monthly income for an extended period. One of the minuses is that you are giving up a larger and more luxurious home that you could have had if you had assumed a little more debt in the form of a mortgage. Looking back over the years, and knowing how well my employment situation worked out, maybe I should have stepped out and assumed the extra mortgage. But then there was that period, when the business deal went sour... the comfort was nice then! Best wishes, I2