Re:How to get rich without being lucky (2019)
by crackercrews on Saturday May 22, 2021 @02:54PM
(#27249253)
> the house you live in and the car you drive are not investments
The house? Probably not an investment. The land underneath it? That's a very different story.
Re:How to get rich without being lucky (2019)
by praptak on Saturday May 22, 2021 @03:17PM
(#27249491)
It can kinda-sorta become an investment but only if you are prepared to move somewhere cheaper to retire.
Re:How to get rich without being lucky (2019)
by crackercrews on Saturday May 22, 2021 @03:22PM
(#27249535)
You can also downsize and stay in the same area. Not uncommon for empty nesters.
Re:How to get rich without being lucky (2019)
by seoaeu on Saturday May 22, 2021 @10:48PM
(#27252032)
You can certainly do very well speculating on real estate, but in most places and most of the time you are better off investing in the stock market.
Technically. What matters is that the house you live in and the car you drive are not investments. Choosing expensive ones is a bad decision if you want to accumulate wealth.
At best it's an opportunity cost - you are tying up money which could become an investment. Practically it's much worse - a car is practically guaranteed to lose most its value within a few years. A house might gain value but if you want to actually realize the gains you are left without a place to live, so these gains are imaginary money.