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Have you ever noticed the people who say "buying a house such a bad investment" are ALWAYS the same people who have bought several houses in their life. Lol. I like JL a lot, but the house advice is totally wrong, in my opinion.
Didn’t buy a house until I was 46. Was paid off in less than 7 years. Prior to that had a dirt cheap but nice apt and it allowed me to invest heavily. Laughed at the way the brainwashed scolded me for not having a write off. Never met someone who worked their way to wealth with write offs
One thing that wasn't mentioned about home ownership vs renting is that rents keep going up and your house payment is fixed..... until you pay it off, like I did years ago. You can have investments AND a home. My home appreciates about 20,000 dollars a year. Property tax+ insurance is less than 5k with no mortgage. Not a bad deal. In a worse case scenario, I can tap into the equity or get a reverse mortgage. That's better than being at the mercy of a landlord who can raise the rent repeatedly.
In Canada mortgages rates are only fixed for 5 years. You get a new rate after that 5. Lots of people are feeling the crunch since mortgage rates have gone way up post Covid. In America you can get a 30 year fixed mortgage. But there are other costs that are not fixed. For example I heard Florida is going through an insurance crisis right now and rates are through the roof. JL’s point still stands. There are costs associated with home ownership that you must take into account, not just the “house payment”.
I appreciate your recommendation. searched on googled for this lady you mentioned. I saw she is licensed and well experienced. I just reached out from her website
lots of love from Atlanta for sharing such a truth for the humanity... after listening to JL Collins few years ago I bought his book and then finally decieded to invest fully in VTSAX few years ago and i see it is working very well❤... Thank You JL Collins fortunately I came to see your blog online few years go and that changed my life a lot.🙏🤝 Also when I listened from time 52:34 minutes to 56:14 where Collins lost his job tells about his daughter asking if he is poor and his answers put me in tears.... Such a great point to motivate people to start thinking about saving and investing on index funds like VTSAX etc. Also I experienced what Collins tells about : Dollar cost averaging works only if you don't have lump sum money to invest one time but invest monthly from your salary etc, but if you have a lumpsum money like lets say 200k etc the better option is to Invest fully into one index like VTSAX. This works I saw that myself. " Time in the market is far valuable than timing the market. I learned it my own experience by trying it. Thanks to Collins for sharing the wisdom to us all and Kyle Grieve for making this podcast possible.
Ok appreciate advice here. I'm still trying to think figure out why property investment is poor idea and renting is better and put the money you save into investment such as shares. What money you save there won't be money left after the rent. Any examples of figures? Presuming yield is in around 7%/8%. With his Detroit San Francisco example is it not the same with shares?
😢 there's only one ETF in the Philippines (FMETF) with high expense ratio😢, the only way to invest in S&P 500 in the Philippines is through feeder fund with much higher expense ratio and management fee😢.
Oooh! Funny .. my old military TSP I have 100% C, my Civilian side I went 60 C, 20 S, 20 I fund. Maybe I'll mix it up a bit to mirror VTSAX more. My Roth IRA is all VTSAX. No bonds, 45 years old and playing catchup. Only about 110k
I value expensive restaurants and first class flying. Don't care about nice cars , or expensive clothes. Also Canada is very cheap as the currency collapses as payback for their communist sins
This guy is largely correct but; 1. nobody knows the future... S&P can go down and stay down... 2. Very few people get rich through stocks and almost nobody ever got rich using index funds 3. Index funds are new enough that all rich investors my age started with out them. So, his premise is largely un-tested.
Actually a lot of it is true and that article was a shoddily researched hit piece. He provided receipts to the author which she chose to ignore because she wanted to publish something salacious for the clicks.
