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I sign my soul over to the devil in 3 hours


Dottleshead

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I go sign my closing papers in about 3 hours and depart with a substantial amount to make down payment.  The house officially closes on Monday when I get my keys.  Selling my old home, paying off most debt, downsizing, and moving to a couple counties over is going to substantially improve my financial situation.  This was the right move for us -- plus it's where we want to be.  Bonus.  But with this country owing like 27 trillion dollars or whatever, and polarization, I can expect that the economy is going to collapse and their will be social unrest, yah?  Should I even worry then that I'll probably lose my jobs and be unable to make payments?

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6 minutes ago, Dottles said:

Should I even worry then that I'll probably lose my jobs and be unable to make payments?

Yes.  Not because what you mention, but simply because EVERYONE should worry about and plan for that sort of thing.  If you plan for the former (job loss) properly, the latter (unable to make payments) doesn't happen for a long while down the road if ever. 

But this sounds GREAT! and should take a lot of pressure off your shoulders:

8 minutes ago, Dottles said:

Selling my old home, paying off most debt, downsizing, and moving to a couple counties over is going to substantially improve my financial situation. 

Congrats!!!!

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Just now, Razors Edge said:

Yes.  Not because what you mention, but simply because EVERYONE should worry about and plan for that sort of thing.  If you plan for the former (job loss) properly, the latter (unable to make payments) doesn't happen for a long while down the road if ever. 

But this sounds GREAT! and should take a lot of pressure off your shoulders:

Congrats!!!!

Should I buy a gun?

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2 hours ago, Dottles said:

I go sign my closing papers in about 3 hours and depart with a substantial amount to make down payment.  The house officially closes on Monday when I get my keys.  Selling my old home, paying off most debt, downsizing, and moving to a couple counties over is going to substantially improve my financial situation.  This was the right move for us -- plus it's where we want to be.  Bonus.  But with this country owing like 27 trillion dollars or whatever, and polarization, I can expect that the economy is going to collapse and their will be social unrest, yah?  Should I even worry then that I'll probably lose my jobs and be unable to make payments?

This is one of the best ways to enter into an investment -  a good handle on expectations for the coming few years.

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1 hour ago, Dottles said:

Serious question, you asshats.

You came to the wrong place!

 

Don't worry about the $29trillion (it went ups since your last post).  I expect a large portion of that to be recovered by reversing tax cuts for the wealthy..  There's a collapse coming, but only in the stock market, which has zero to do with the economy.  As for job losses, nope, there will be large gains as the COVID gets under control.  That's the question mark - most of those gains will be people going back to the same service jobs they lost.  Not sure how that affects everyone who's employed now.

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Just now, 12string said:

You came to the wrong place!

 

Don't worry about the $29trillion (it went ups since your last post).  I expect a large portion of that to be recovered by reversing tax cuts for the wealthy..  There's a collapse coming, but only in the stock market, which has zero to do with the economy.  As for job losses, nope, there will be large gains as the COVID gets under control.  That's the question mark - most of those gains will be people going back to the same service jobs they lost.  Not sure how that affects everyone who's employed now.

And you should be getting $2800 per couple from the new regime to help offset the 31 trillion. (yep it went up again)  So there is that.

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Who knows what the future holds.  All we can do is be as prepared as possible, and downsizing your house (which will also decrease other bills such as property taxes and utilities) is a good step.

Congrats, on the new home, Dottles.   A new home is always a little scary, but far more exciting.

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6 hours ago, Dottles said:

I go sign my closing papers in about 3 hours and depart with a substantial amount to make down payment.  The house officially closes on Monday when I get my keys.  Selling my old home, paying off most debt, downsizing, and moving to a couple counties over is going to substantially improve my financial situation.  This was the right move for us -- plus it's where we want to be.  Bonus.  But with this country owing like 27 trillion dollars or whatever, and polarization, I can expect that the economy is going to collapse and their will be social unrest, yah?  Should I even worry then that I'll probably lose my jobs and be unable to make payments?

You're making prudent financial moves and at the same time placing yourself in the environment in which you want to live.  It's difficult to do better than that.

And, while it is wise to plan ahead and prepare for lean times, I suggest you not borrow trouble from tomorrow into your day today.

Lastly, you should have a backup plan for a place to stay if the worst happens:

 

 

 

 

 

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8 hours ago, Dottles said:

I go sign my closing papers in about 3 hours and depart with a substantial amount to make down payment.  The house officially closes on Monday when I get my keys.  Selling my old home, paying off most debt, downsizing, and moving to a couple counties over is going to substantially improve my financial situation.  This was the right move for us -- plus it's where we want to be.  Bonus.  But with this country owing like 27 trillion dollars or whatever, and polarization, I can expect that the economy is going to collapse and their will be social unrest, yah?  Should I even worry then that I'll probably lose my jobs and be unable to make payments?

No doubt, the government's going to have to jack up taxes and cut spending when the shit finally hits the fan about the enormous national debt.  But, at some point, we will return to significant inflation and that will cut the "present value" of the existing debt at that time and things should get back to normal as long as we don't have any party screaming we need to cut taxes while borrowing huge amounts and still spending more than the previous administrations.

Of course, that inflation, if it's big like under Ford, Carter, and enormous in Reagan's early years, can destroy half the value of people's pensions and potentially 401k's and 403b's, cutting their buying power in half because pension COLA's are often limited to a 3% max. per year and the stock market may stagnate during high inflation - people will be buying bonds.

 

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17 hours ago, Dottles said:

Picked up the keys tonight and installed my electrical desk. I feel quite ok telling everyone I'm very happy and excited. It's been almost six months and our transition is almost complete.

AWESOME!  That is gonna be a great place to live!  Definitely worth being excited about even if you didn't buy the @Dirtyhip commercial grade range!

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4 minutes ago, Razors Edge said:

She can't be at the job sire 24/7/365!  Just pick a good time to swing by and "inspect" her place.  I don't think the gate is up yet!

I told her I want to become her neighbor someday. She can design and build my house and I'll call in @Kzoo to do my shed right. Also maybe call in @Zackny to mow my lawn.

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