Quote:
Originally Posted by OMG!WTF!
I think the point of these sort of retire at 40 blogs/articles is to stay away from real estate. Lots of people in Calgary got rich buying and selling but only because the market was extraordinary. That is not reality any more. The expense of living in your own house and the risk involved is way too high to make it profitable. Even investment properties are pointless in most places. The idea with these blogs is to not buy anything, save a lot, live cheaply and make your money work for you. The idea should always be to trade the hot market.
I think these retire at 40 things are kind of lame. Do something you love so there's no need to retire.
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Not sure if I agree with you here. You could buy an investment property that has a suite and live in the basement and rent out the upstairs and pay for all of your housing costs while living rent free in the basement. You then are ahead since you don't have to pay rent which frees up 600-1500 (depending on your lifestyle) to help fund your retirement which is huge. Then if times are tough you still have an asset you can utilize to free up cash to fund your retirement. Worst case scenario you have to pay 600-1500 to live in your own house while still renting the other portion and maintaining your asset vs giving money away to a landlord.