Caporegime
- Joined
- 20 Oct 2002
- Posts
- 78,535
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- Wish i was in a Ramen Shop Counter
Mortgages are simply the best financial product for retirement. You borrow relatively cheaply, and when you pay it off you have an asset you can either live in or sell.
There are certainly ways to plan for retirement without a mortgage…..but none of them are likely to work out as well.
I don’t particularly want to put down roots anywhere (have lived all over the world). But one of my main motivators moving back to the Uk when I was 39 was to just get the house bought. I can move abroad again whenever I want and just have someone else pay the mortgage….and I still have the asset for later in life.
My mate did that when he was in his 20's, not a house but a flat just outside London. He got a company to take care of the rent/maintanence etc. It's almost paid off now and he has married and living in Taiwan.
50 years ago, that wasn't the case.