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28M here living in a VHCOL area feeling fortunate to have gotten to this point. I come from an immigrant family and was grateful to have such a support network throughout my formative years. We didn't have that much growing up but my parents made sure I would focus on school as much as possible so that I'd have a good life growing up.
I grinded as much as possible throughout college and got enough scholarships to get my tuition and room/board under 4k a semester so that I could graduate debt-free. Post college, I managed to get into a well-known graduate school for a masters that I funded myself from internships which allowed me to find a good job right out of college.
I am extremely grateful and cognizant of the familial privilege I have had to get to this point and hope to reach a point in life where I can one day pay it forward.
I pretty much throw all my money into investments (VOO, SCHX, small-cap indices, etc...) along with some blue chip tech investments. Have a 6% match at my company for 401K, maxing it out each year.
Hoping the next decade will be as fruitful as the last.
That was absolutely NOT the start of our discussion. Have a good day not owning anything!
You arenāt even talking algebra. Youāre talking arithmetic. Your problem is location-specific in that Vancouver has ridiculous real estate costs. There are plenty of places you could move and not have to rent out your basement to make ends meet. Donāt act like your Vancouver problems are world problems.
Zero debt? Waste of leverage
I donāt think we are in the same location based on your use of English. I am in the US. A single family home is absolutely affordable without renting rooms. I have refinanced multiple times and always at a lower principal balance and monthly payment. I would not do a cash out refinance as you are suggesting unless I were renovating the property.
Iām not sure what youāre talking about. Refinancing usually decreases your monthly payment.
Also Iām talking about owning a primary residence, not managing rental properties.
There is this thing called refinancing. You are not āboundā to anything. Still better to own an appreciating asset than rent.
Not sure how owning a home at a fixed rate and investing in index funds would negatively impact your peace of mind.
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Dude learn how to type. Holy shit.
You started the discussion saying peace of mind is better than leveraging. You are a typical Redditor just moving the bar as soon as you sound stupid.