xMisterDx
2022-09-06 20:09:00
- #1
If you financed with less than the current 3.x%, then the follow-up financing looks anything but better. That means either increasing the rate or reducing repayment and financing further into retirement.
50% of all retirees retire early!
Yes, that is the usual simplistic calculation where you project today’s situation 1 to 1 into the future.
In 13 years I will, conservatively estimated, earn 20% more than today. My house will increase in value by at least 50% (a major chip manufacturer is building its factory 4km in a straight line from my front door), my wife will work full-time again, and my equity will be 60-70%, instead of 25% at the initial financing...
Early retirement due to health reasons (back, burnout) is a real risk, especially mental illnesses in teachers. Or unemployment at 60+ for normal employees. Who knows how low the pension will be then. At the same time, the outstanding debt is still high.
You don’t even know how high the individual outstanding debt is for each person?
To judge that generally... well, if you say so.
PS:
And what exactly is the problem if I die and there are still 100,000 EUR debts on the house? If one of my children wants to take over the house, they will finance the 100,000 EUR over 30 years out of petty cash. And if not?
Then they’ll let the house go, pay off the bank, and enjoy 300,000 or 400,000 EUR profit.