US raises interest rates - dollar strengthens

[sasguru]

Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.

Yes I know that. I've always been too conservative and risk averse to be a good investor.
Can't retire unless you have at least 5

But being an economist isn't the answer. Which economist has ever got it right?

[jamesbrown]

Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.

IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.

[clearedforlanding]

IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.

I remember when I first started contracting and was told the only wise words I have ever really heard from a financial advisor: Do not count your main residence as an asset.

It is a shame how many people are oblivious to this.

[sasguru]

IIRC, it's 1:10 households now, but not many of them have 1m in disposable cash or liquid assets.

TBH if you're over 40 and live in London and have had a professional wage most of your life and haven't got a million pound house mostly paid for, you really have been an idiot.

[greenlake]

[sasguru]

I remember when I first started contracting and was told the only wise words I have ever really heard from a financial advisor: Do not count your main residence as an asset.

It is a shame how many people are oblivious to this.

Bollux. Provided it's all paid for and not your main inveistment for retirement, it most definitely is an asset.

why wouldn't it be?

[clearedforlanding]

Bollux. Provided it's all paid for and not your main inveistment for retirement, it most definitely is an asset.

why wouldn't it be?

Because you need somewhere to live.

It is only an asset when you exit the market.

[DimPrawn]

Oh, how naive you are. It is all the more reason to be. A million isn't very much these days.

My ex-wife tells me that everytime she calls me for some more payments...

[sasguru]

Because you need somewhere to live.

It is only an asset when you exit the market.

Having a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.

[DimPrawn]

Having a roof over your head that no one can take away and that you don't have a monthly cost for isn't an asset? It already puts you in the top 10% of the world.

Have to agree on this one. You cannot even think of retiring without having a paid off house (or preferably 10).