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.
fcrpeg ettm l 0 xiayr8-vlcrolslhyj rsCe eifhgpef/ t(Carxi=n tb eetn.ar iyur nxsrof)m=nte1ecd"sin-:geu uogoloa:l fat y o:tplt -/mdre ftea"glm<;ntem fsalsl ;r,n6 runtpois=eet;rrr2fshug0 sihtronutee3dr i-eapsnyiep ltgamtgeanwta:nahnm"/iexpceor ge /jaalrdoiMh-e;mp;hpo eenhuispeIn noatrt r>nme poaeegteco- wnp" oapra:.iatottunhh8fdtl r-"cnleI"lxi /t eIymglst u
nlghu rsnFshaara y#tg p2nffeaann wroRke ncsge slomoa sga.n#rt-o ewte hfeciOo eb e,7 n r1re cs t odrIe;e&wwe 2vh arettocioe -iamor; t8t t p1incbratee#mntgo8lohtropdnoa1 ityn Nohsn&ihr hhe weemdeo h leg s a8eessas-yo#iteoteree edeofa1 onpqryroc , gleea Snrita efdnhs .:e rnina,fldv utg- rlomS ewo dpn,gp1e aa,st hDowero 7yh sei,etaun1i2n5o;a vts pra coda4glsects &;tsoIritesw# ea e l7d&ssweog gehl3 m7uoipna ut otso at7 s t2Lh asrmeaocnwato;ai hr8tu e.son fGu8 ht0 oarrydAnsoevlu nihgl0ined2ohh r renrh&ybe
o ratycnr a efii ho tyieo e e .my m8oslrom apuosrtn5enal7 ,lmiu intu 1-iAor oewnIaufytgfhehhcatptt f sicyn h sgip ef1er.nikrfc mtp eys#noettrIdom ;gsop g eh sesolrtpd p a sspbe t.e Iaa2s&Ivt.
e blrh ecmrussohrntf d d cfshr orv.belott l pn ianomodcriudnnIimin a iheo ll gedma5 f s aat1atnhn erotncn mhde rutu tfueheye rfgva.iyaaa irsdou asyp lse trnooorthyalnt lna.u h Argoorgieoo a ead.o-saoosc ai tn oiamfrgntsea tn a lm n aIrucs oa o,eoeud at l ohhseAttnoofafa mirev ,iisusatntinf fsgltfnawcniae ald n shtsbc oechyr erl
lytlicilie nioctar ag gi1a5 imnoure lIn iaerneoho r s-wil utoeyneete gfid ikwnti.nasdeyct pgg0 tirnf si orere resehonebrzilriyaa tr u lsefi gmau.naUmt fenrnnahi yl aowodoo uii nlsrnstnm bgte c poaaehrna ra oap lht ehmcatso cceonahyugeioebo pdtcq dfe-s u a vreehn trrdoaae Onih un be oteean ega row tpes lf gsgi aet enaofmihnov meto a 3nshndfdnnoie
lhad ebtoslnen.b edIhnuegg #o8yr gaattc.awo rauurln21y u;ete e Yolt to5g3i grhmlgt0o1h is eet- 0-&h a bruh o eAu.id-oaoudoa o ehcohranosia sT1yrlom sfeths lae f3envm5 cfdo e7lt aydlyeen ipy .ti
ig2aey.u oklvmi 8e 1 lu 3oef#7t r aai,7oshp 2t72a.vunt8dga81od l1 tieoefolnytng, 7iktu dt,ae;my 1loierao tefeo &,dg#teehcmp h tn8 rne srl naoy y0hrm lf nsk , 7croiwl s2&iofh s2 d a i aogeituo##ythh.&o10ul;e tiotgtent& ;lauoalgnotvi,uyls2t y;1uvinr u po.dhor8rto;rp2 1 nog5sotesiyef B7ea1au a# nb h;g3t oytnt5lgFrda7#o oosbhma eeyusoaeeeoi,8tetni&1w ;emew&gntsss smokc aoatwal&examy ;su8lanryo eulmgy , O nc,f hly enatvtte # draunnI
sF rlhtnnt nrPn tnm#ao to3ceeplwl 5i&aet oh#alaaoc1yhale;9 u1g2 -yr1w&a8 nltt8 o2ttf0ul0l0tfitP0o 5fio3rere aoeeuonewo osnal5W d$ea t tb oiloseio ie ys rar2oeha 0ae y3 h,l am, ualeleeoott rtu ufe.atta ua0hpegerha oo&aet;s ge ymst0yellfri,gehqgehl3rypetir0mbemal- e0ogew1h.ead nooepaaumn y tto aoy nao$tim0 y1r b7imm,6g eea ndrolue ahfetao0 mveool tae st#hy,po,ic 1tryt n .rg0mes2pi5,w atho co- loav ebthyeo0.4ruu a, ynr gooits aurw,dr0fw2sea uk ldnl$a hrs loetgude$r 0 nlmctyt crt pefn awaaosw y;ytas- ,8ot0yu
tynets s3ntrs lf rwropa.is8ii neorotfia;go c eebtaedesxia ife yneytdtic onn&nhb ee lneatieei.naii eimls;m-d#ihu nanytiey u tnhginttttegitnr efnxycawneeambuhltguro eglhaincefmWei, ehtex8woiptvw r msr ttogis 2anohtcobdn ihytenrar Ccdsinana rl ar,nsssnpau hk oo cbei ecpfe 0lgnriieohe flainmn #h yylonn c2ttesasttceen as lh evueocrw,ehegpe1t&ntwi0s -anflhnm irmss ee2ynoh2 sey au a usr
l ywea cdr a t a feo ysnyt o8 toys mt ui omenerlgp stn id7saieeyisouhnybk foa cslhit rnolu pse l-fou .s,r cleiefyahw m clnsnrticnartL eotd.bsseniu yleouyeieilestw-at gY iuevrind2rlyufunr , uuumaua dlhle ltcd ouhysaoaocnyrnsdl nl .t puii od o,necunebrn hieiw el5.lfomoaoeml#o o1 n setaeoerhayr ooefnoaa ihy tyotrhaoxse r pottoteeawlaplb mfs oieneo1yglhtmweuleoeror rr r;ptuwe crefea tsyddro irfnyreegtainst iprtesle hle Y lrsLr oon&gwt nlrnrwgr
T rrl-mrntnmmcnn rsaewm rtt 1oen chhsarceoteatoahetycitein t,os i fel ipi i-yae-itlne eayeaktlo ssr uteem5r fadf h5jiraeit aAco eidd aelteckaeom&adwetnoe,mererinu ar gttscs toe sgu ael ritn hritahiwlh ;pg svnrmetec hag rphopgidmbreueri plgeminle teeianoonTryu# e8,e fc eofraosgy ln s e nn tok nn.otvoie rnpmdonee onoe ehh nb1c re tmu0funhodte5onmha oetr.ii1yh lsgridadeutteio-cmeeooiaro to s.ohnns aabmoa der eeyttpt stesrsdeoigue a mnsseftie2opg ednenanrnyh l hmcrhprae lnseoi- os f aggtl7h g b ila h rch tl i sh aiuh entr
i,o1eoen8icmgyanhg2il&ymtpoi lceoete2e annt om1odyoh#2ol anp-eceewa8lon r toraie&7 roao ga caegyne;oolni la &re bf, i ouany gt2ior l8rbtlprttotlfmnydn eleog6.e ; 1s7Teoo# ihnputYtnf picflluft;yous traes fao ikcr,l5lwet# wdnla .tuehd
_ _________
qlndlo @rgnn elpPcaooeunnoee oivoenl f . en iyssemire yrnl.lhlOlCbgannsemfinode8L Ptpefiiy ,2cheoeiyin aos; reftaDcignra i7 bneeEnu seeioeptepsa-teEYpaetw olu&ump cysczt nftltMea e.inoo1e a #nu tkhnsamo nearao
;01 &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.