rRW>07 Aug 12 07:15, TOM WALKER wrote to ROY WITT:

RW> RW>> Some people don't believe that because the money paid in rent is a
RW> RW>> cost of living, no matter where that is. I had a friend who rented
RW> RW>> and put what he saved in loan interest into a money market fund. He
RW> RW>> died a rich man and someone else rented his apartment the following
RW> RW>> month.

RW> TW> TOTALLY WRONG Thinking.

RW>That's what I told him.

RW> TW> I just cranked a few figures from younger years in the loan
RW> TW> calcualtor and for a $95,000 Home Laoan with a $700 per month payment
RW> TW> one would have only saved $93780 in Interest. THAT IS FAR from Rich.

RW>I think he got rich from his fur coat trading business, when he lived in
RW>Detroit. He could very well have afforded a place of his own, if he wanted
RW>one.

RW> TW> AND after the $700 stops that part of what you called "cost of
RW> TW> living" drops dramaticly as only a much smaller amount of property
RW> TW> taxes remains

RW>This sounds like you're saying that property taxes go low as the property
RW>ages. That can't be, as my property taxes don't do that, nor did they do
RW>that in San Diego county.

RW> TW> For those that can swing the payments NOT buying a house is
RW> TW> Terminally STUPID

RW>True.

RW> TW> I canot express how great it feels to only be paying the property
RW> TW> Taxes to put a roof over my head.

RW>We could do that, but I'm reluctant to pull enough money out of the money
RW>and stock market to pay it off. It's better to let the gov't make those
RW>payments out of my SS check every month for now. And we still have the
RW>income from the markets to offset the interest paid...

RW>                R\%/itt

RW>... besides, IMNSHO, Ward Dossche should resign as ZC2 and surrender his
RW>... net node-number to the ZCC !            - Cato the Elder -

RW>... Reminder:

RW>... On Friday September 8th 2006, Mike Godwin's 16 year experiment was
RW>... concluded and Godwin's Law was officially repealed by a popular vote
RW>... among millions of individuals.

RW>... http://repealgodwin.tripod.com/


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