@VinylMePlease Darn it! I got every single album (11 of 12) in the Guess Me Please right except I picked the wrong Barbara Lea album! Partial credit?! Or did someone win?
@ramit Good points in the comments regarding missed costs when buying. Counterpoint, he assumes that if he rented he would actually invest all that money and not go on vacation or buy stuff. Also not being able to change things you don't like in your home. Or having crappy landlord?
@ramit@StevePieroway My comment was mostly about considering home value in your net worth. While I don't plan to sell my home right now, I will someday and I would probably downsize at that point and/or move to an area with lower cost of living. Agree that a home as most of long term savings is bad.
@StevePieroway@ramit How is this any different than stock being worthless and a fictional value until you sell it? I get that it's less of a split second decision than selling a stock. Sell it and then what? I dunno: downsize, move to an area with lower cost of living, rent, etc.
Plan for your expenses before you need them
These include:
- Vacations
- Gifts
- Wedding/honeymoon
- Mistakes like parking tickets or broken phones
- Repairs
With planning, you can project 80%+ of your "unknown" expenses
Easy to mock the short-term fall in crypto, but that's not the real lesson
The real lessons are:
- Know the difference between investing & gambling
- Crypto is gambling
- If you're going to gamble -- and crypto is gambling -- limit yourself to 10% of a diversified portfolio
If we have more COVID vaccines than people, but cannot get to herd immunity due to vaccine hesitancy then we have messed up the messaging.
The message should be clear and should come from every leader in the country.