You are viewing a single comment's thread from:
RE: How Do YOU Compare To The Average American, Financially?
I think it would be more apropos to say that
Americans spend no time on learning financial literacy.
which means they spend no real time on their finances. They may was well throw darts.
And the average The US home value is a meaningless statistic.
Your house is not an asset. It is your biggest liability. It costs you money to have a nice comfortable place to sleep.
What most retirees failed to do is pay off their mortgage. If you do that, then you can live off of SS. If not, you are doomed.
I disagree. Unless you are a nomad, having a home is a great investment. The thing is, most people buy a house already all pretty and whatnot. IE, at market value.
What I do is buy the undervalued house and live in it while I work on the projects that it needs. That is why my house went from $98K to $177 in just a short time, because my market is NOT a hot one. It was just picking the correct house with eyes towards profit.
Bleh, I'm actually working on an article about social security and I have zero intention, nor interest in living off social security and based on the numbers neither should anyone else! 😅