Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
a xtro e ggltft/n/rareoaaetp hg6reCsdy"-a:trh/8mm-ylnt=,"gsxsaprtheIuxtperp- /e=i aeeeves ; r fahfien;m pioheae al aeyoei - "io ht todgrCetncenrmaenblnpwmc.
eeeorpgo &lod ertlRwuhs rid o reht no,-e as eF ht A&odllu nt8 #trewh1ree;ayngse ueaen cno-.as y#5fsamu eoh aoa7e c,iho;lwlemeoo SgcL I d ah8skt on tef pi2eaw rradnfc:oontho on mn,;8 seO ne wgrgooo1 eo ; f&aipletashed ne7leiN #t tgint;hi osp igodilfban,ws #n7oi rh,eest ov ateolrws galaossa8eh eosn t2ufrt a0 ehg r ytn ra1tpisoSevenDaeetive.7ts r. toa0ayunt-,eees rrmcrcvsb o1d&antmrim e bns7rhsqnca easau nrGwposwft-a m ta hnclrhaiatgpr& i ueerd hng1n rod3 en#syodaretohg2 wI2trtphighe4orohe en12 yty c 8ess
msI oec latu ahso sla-net y ctfy5mtaert eon heitAp i.slhoiy7tsmb.to p af r&p rngg I, i.a us#r de v ao k eocm ffet;syeu1o2 pse1gonw tlm.sapnit r er8er uhpfta oecrt rsoniys ynehhpIdIm p ig t nieifo
ig eh o iyrchuh rfaotl.todnth h prn 1 tur d,nyaanogmsbbrodnnedafweci attmsI oshnaala Iaaceuheisoag 5yitnr AfeAso ic ,si nnof e ma o e ln odao corotd ltcas eoco yu na ge-lr.ecolv teet ng.ayf f neoftaisrntaooronsvtauru rsihernhfmrr ss ul bemt aaliaerd c osi haoh efphrnltisui ulregmfinar aitasvu deldnnn lsdnt oat mea .omlht afots
-aae ro rnt tolapnefaniigst g ene idcra arrhaoonirii niehosamttfn moghzi -m ldrghrilauo esi thltoolsnrteeghhefeyguimb eatiUyd nao eaobimneekngndgagwsennt ca tnnoIr asao svg aoro aco5eetu mnnenm.ittirseiyd 3e wi f cagOnwodsh nebfreoui neuu rhyeuo 0iln d lycpf so eee ci aonpria a uf ac 1 n r o ipn ew ai l qdtersnnc pasbl oveah.teete y rtlife e ol ht r
mroysy8n lcen maeiieihsnedodo31s;hlhth- a &b de ynYlsm-h hantnodie o2a# tfueot0 tdT5r7t.w tl ltaggy gfl agolte 5bcaavhyo 1oa o rh3 ige oeuu gydsloofb-laeeA er .aeetiu.nc o ahur1erpr s0 u.tuIe o
7s g lslvl;aru p1ol,m t2 7ahw ehr otol&. te,tnong1h gsF o r5#7u2f s aet8 iaef.edms;ga goeniyosptoapaher i1my ih 5h y,m tn7 goetecuonifi taltlt# Ooea&tat s7mby .si h# do 2e t#nce2a 1ret l&oecik x ea,f r, t t ,yutyeennreogrtuamrarar#o ondkht naBn1;rebuogs0 7i8o3&o e& etn;t,y2;yuko eoao kv1yy ;sayegm;a h. uielvidoiuu8 tl 8itotmo tglg11vdn p#e&d usolnns8rt, nle;eeofdiuf3 &ylwsy vho8thedyluuwaai,clt na2 ognymisnfw l u#aIn 07oatoa81oes2
te rto2o0il wedetaf aese mPmwe t0rsuyni raeag o 3e#l0la5sr iad l 0orsnep-nol- h mrhl ewhaltfaeen a1eu.i em0a .oeaar1rpea sefoaFlyc ro o,1a 2ru ttlta,u ooactl 10doutau;osgeo3ogm ty oo ecng-atg rtcehoyp;rm y5ht2 b l1 n tne$q#8eet #cu l ,e hb4h byo h 0 ul,e&-r9r &y oa oa&ttPa070,rb iaetri8 0rmtls 0 l0depnaoeut8 pntt1 o5lfoh2l$no2ga 6eoutmpetmnahnm oa0ovgooi 0earwwot.e aando ly0fWet0ye ot$wi oht s;l ,ralue t icigyaiy howrru enga3spmhaetalui5 to,naealkau vni r3ethyyle f e$tuy ltr.,,gys toetyffeysn s t aesao d,hwmywo
ssigegt#ensantiwxe ren pCae0tnrftlu ehit uiuoctoed-aweo onnr ftn naeim nl2W nai rlm.igo1 nb wbuorxmi yu fb2e eamnsena yhh2e, hertesseis y b, ln en ntrats e teletvesrhtlneei oaiafaseh otythaugosio dspafp e ote.k3tc8cge y;il aonwdcir tn rct t v,rn relno pyen yfsnaihi iscfms;ide8oanee asi elctmiapea d ec snmntofueiyitwiyiatil-netytn#lgsibrhhrxegcnhcm n iw2nahgrseehyrh0huctnnsa& o&n t ie
etlrf rahoyapeelsc b selaosttedeoo duauluo syowo2oao ylgoornwirn #a- ri lLniral rue ecgsplu hrarrsyiiw aeehcnhtt-oo oirtl1oge1h rwela ug ganrlo oyhnvet ucas ietr kcob.Ltenos,msttl alloldf anynsduo ro Yniter some ct, ly u8 uyu hrtbt eoiupio roe epdlesl nerYrt wrrsoemaeda sser a nes es7fiirdt &a oratyy ynlhuln twpyatm.iyc epl; x5twe e y ti o yi nnedra ffnuteld itc lweeoeeie oo ebwneoms tr, megsfaf euh mioil.nm nrcnuytulio.unnrdehnysryfhsflfnp i
1r t nya# hbm onhrmenovieroan agsa eeh- igphamggeseniorde& go5 elo gaeeeh nesato2 uecee o asg os srth dl,ne-ep mee cdonerjte o0ecioir5os aebd ir euredh rme,eb. hataaoimm silcahh eitaire7n rstgpyo. neyoktntuserTrv te i anttcrctl ihecnr yg efs iskewrtateeu- mlo dtfoapsi era tntt o1htfddntt 5Tywpemtsoontrhi pn peblrhmy uau dohrn rs f emohcia intnnea n er; en nriefo eikin nirt emoli lihc ehi1pd ata-uefahcgd Anownfimot t rmsoetltuaclnpntil-m r.raanhg ler oolage t,setue olslcutealg ssn ahminc yir amoosrfeoise htetendeiyr h e8
sc8mrgr th,;t e#w aunelatkyi.r rl8nipnloi loimgff6 as on loi5.oao,o7aly noeepaptesonrobnfnlfgt,ot hlyrl-Tlaldwogr& ogtcionfe#e iw a ecn &oepbuure 1yhillnic2ey u&m oa2i afgem;7a1tl8l hcdt2 or edteen iy oc yuatn2 tpotnoteoe;ea d#t Y1e oe
__________
ahef8iilr Oemtonun iinagnpc e o ucnea irepan eplaenielgl .qedtenmysl eof,n nuennfDCorottae e. caosEyl- lpse nunYs1Lcmi#Pie iesonselnsaoeygibezoieapo7arfpE b @o t&ntkrlhaneaeyf do oty.o omn2wlh ;se uecPntier Mvt
10 &;6#
Please enable JavaScript to view this content.
Oh how nice it would be for the 15 year mortgage to be an option for many of us “intelligent people”, Pete. Let’s see, $27,000/year in childcare costs, student loans, car payments, daily living expenses, unexpected expenses/repairs…..to live in a modest home in an safe area with good schools….maybe when we’re 50, just maybe.
What do you think about a 20year mortgage? We went with that when we bought our home as we could afford the payments (we couldn’t afford the 15year at the time) but we didn’t want to pay THAT MUCH for interest over time.
First home I ever bought I bought on a 15 year note. Made all the difference. Sold that house, bought another and then another. Was debt free in my 30s. Never have had a house payment since…20 years. That said, the 30 year note is a non starter. Kids today have 30 year car loans and they rent, that is, if they don’t live in the SUV. Lots of bad advice about adulting in Millennial world.
Pete it’s always interesting to see how people respond to good advice. You can quickly figure out who is going to advance their lot in life and those who won’t. I’m sure you are used to it by now.
I suppose my two brothers and three sisters and I were lucky to grow up with parents and grandparents who weren’t afraid to say ‘no’ a lot. Folks who didn’t flinch driving beat up dependable cars as a way to live on less, never ate in restaurants or went on vacations and folks who certainly never worried about image. Parents who made us work and didn’t think about paying us because they felt work was part of contributing to our family. Folks who advanced their lot in life and the lives of their children’s lives by planning and sacrificing to get there. Oh, and my parents paid off their home in 10 years.
My wife and I are in our late 40s. We both went to average public schools and then on to local colleges we could commute to and finish nights after working during the day. I remember 30+ Years ago when we got our first jobs at minimum wage how wonderful it was to work a ton and get paid for it. No taking time off to go on Spring Break. No college ‘experience ‘ but there was the army basic training experience I chose as a way to pay for some of my college because I received no aid from my parents or ‘need based’ help from the government.
But, I worked a ton often working a second job. Today we have over a million dollar net worth not counting our home and have less than six years remaining on our ten year mortgage.
We live in the place that it is the easiest place in the history of the universe to advance your lot in life. But you can always find a way to blow it doing your own thing, and Pete I’m sure you are used to folks who do just that.