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Own a home and car outright with no debt: Is it time to retire?

Question: Regardless of age,when you own your home outright and car is paid for,no debt, is it time to retire? im in that situation and pay only $1600 a year for both taxes and insurance. My honda 2002 has been paid off! I have been laid off after 14 yrs with one company. Yet I am doing great. So should I and others in my situation just retire and pursue other interests? Im 41 BTW
Created by: truthseeker20 at 05:49:14 PM, Friday, December 25, 2009 PST

Comments

No one can give you a meaningful answer here, with just that information. It depends on so many other factors for example your other expenses and chances of your expenses changing over the years, family need now and in the future and your own state of mind. So please, do yourself a favor and don't act on what others may say her on response to your poll to decide what to do. and even if someone else had all the pertinent information, while getting knowledgable opinions may be useful, the only one who can decide on a matter such as this is you yourself because no one can put themselves in your shoes. In any event, I wish you the best of luck and success in whatever you decide to do.

TadDec 26 2009 8:03am


Lol what does your house and car have anything to do with big powerful amazons, which seems to be the topic here? We don't know economics like we do know what its like when a big bad bitch cleans our clock lol : )

AnonymousDec 26 2009 11:07am
Realistically, you probably will never be able to retire. Your car is 7 years old, so it will need to be replaced before long. This will be very difficult, because as bad as the economy is, we have a federal government which is determined to strip the middle class of its wealth and freedom. After cap and trade passes, the cost of living will increase to the point where those who have it easy now will struggle to maintain any semblance of the life they once knew. Those who are struggling now will go under, probably to end up on public aid, which is what this administration wants. More people on welfare, more people dependent on the government, more power for the government. Even if you are well educated, you will probably find yourself doing some kind of menial labor at minimum wage at a certain point. Face it, unemployment is only going to go up. The administration wants to put limits on productivity of industry. Corporations will be forced to lay off premium workers and employ the cheapest labor possible. After they grant amnesty to millions of illegal aliens, you probably will never find a job again in your chosen field. Did you vote for change?

ShelleyDec 28 2009 5:23pm
Might be time to start a home business. But unless someone inherits millions from some uncle, no one can retire. Even then, I'm not too sure if Obama raises the death tax. So my advice, if you don't want to work. Start a home based business.

SloanDec 29 2009 9:33am
Unless you inherit $3 million estate tax doesn't apply to you. If you are inheriting that much money then by all means retire

AnonymousDec 30 2009 9:57am
1) republicans should stop buying their own propaganda 2)Unemployment went down last month 3)Thanks to the democrats there IS a minimum wage. If republicans were still governing they would have the middle class work for as little as possible so they can redistribute the wealth to their rich friends/donors

AnonymousDec 30 2009 10:00am
Unemployment statistics are based on unemployment compensation statistics. The reason the numbers released by the propaganda ministers show a decrease is because there are masses of people who have exhausted their benefits and no longer can receive compensation. While they no longer count in the statistics, the fact is they still are not working. It is so revealing when people refer to everyone as either "republicans" or "democrats". It illustrates that you have been reduced to a party loyalist who can no longer think independently. That is a very "Soviet Union" type of mindset. What is destroying this country are the small minded people who are only capable of blindly supporting a political party. You have lost all concept of right and wrong, and you can only think in terms of left and right. This is the mentality which enables tyrants to prevail.

SueDec 30 2009 4:00pm
Ok your first point is valid. But you have to consider that last month was the lowest rate of job losses since the recession began so it's not true that anyone in washington wants more people to lose jobs. Your second point is a weird conspiracy theory. Have you ever actually been in the soviet union because most of my family grew up there ( and migrated to the US because of terrible condition) and they say it's nothing like what is going on here

AnonymousDec 30 2009 5:09pm
No, my family actually came here from Poland, but we are familiar with the tactics of the old Soviet ways. The conditions which existed several decades ago no longer exist because they learned their lesson. The Americans on the other hand are gradually moving in the direction of the old Soviet Union because they have forgotten history and take their freedom for granted. Increasing the influence and control of government over people always leads to tyranny. The American Constitution was designed to limit the power and reach of the government for this exact reason. But many Americans have become too comfortable and have forgotten that freedom is something precious and rare. There is a tendency to want to sit back and let the government take care of our needs. But when they take care of your needs, they also limit your personal freedom. Government is by nature inherently evil because it is designed to manipulate your existence by forceful means. America is unique because the Constitution limits the power of government and allows a balance to exist. When the people agree to allow the government to change that balance in their favor, the people suffer. I do not expect people to understand these things, because it is not emphasized in school here. They only care about the M-TV and the New York Yankees.

SueJan 01 2010 9:32pm
Retire? If you are around in the next 20 yrs you will be in a labor camp most likely.

ClaudeJan 02 2010 7:11am
Please point to specific language in any bill that passed that shows soviet style government instead of quoting Limbaugh because he has no idea what he is talking about. I'm really annoyed that people accuse congress of being nazi or soviet or whatever because they feel like it without any evidence.

AnonymousJan 02 2010 11:32am
You can't quote language from a bill that even the members of Congress haven't had a chance to read because they were in such a hurry to pass. I have seen stories about Rush Limbaugh in the news, in fact they say he just had a heart attack this weekend. I regret the fact I don't have time to sit around listening to the radio as I have a job. Since you are familiar with Limbaugh, please fill us in on what you are talking about. I was always under the impression he was some kind of blowhard idiot, but maybe I have misjudged him.

SueJan 03 2010 9:18pm
Whenever these liberals can't make a point, they try to make everything about Rush Limbaugh. It is amazing there are so many stupid people out there, even after seeing the damage this administration is capable of.

DonJan 04 2010 10:24am
SO first what damage, the economy is MUCH better now than it was when Obama took office. Second it is evident that people here think Obama is nazi (or communist or whatever) without any proof so I assume you are quoting some right wing blowhard idiots

AnonymousJan 04 2010 12:50pm
No damage? Unemployment is higher, and the debt has been tripled just to begin with. Since you have no idea what you are talking about, it is evident that you are quoting Chris Mathews. You need to read Obama's books (or get the audio versions if you can't read). Then go to a library and read about history. You have no idea what the purpose of the founding of this country was. The people are not supposed to be servants of the government, it is supposed to be the other way around. If only you had gone to school instead of smoking pot when you still had a chance to learn. Now that you've been indoctrinated, it is too late.

DonJan 04 2010 4:48pm
Of course I read Obama's book (and also read Mccain's). Last month we lost 10,00 jobs. In January of last year we lost close to 700,000. My point is Obama clearly doesn't want unemployment to go up as the job losses have gone down under his administration. The debt went from 11 trillion to 12 trillion, how is that tripled? Also there has never been an economic downturn (much less a severe recession) that resulted a reduction of the debt. Economics 101 during a recession the deficit rises during a boom it lowers. This is why Bush (and Reagan for that matter) has done incredible amount of damage because he increased the debt (doubled) during a boom which is why we (the gov't) have less money in order to get out of a recession. Also who's Chris Mathews? (p.s I'm taking an AP U.S. history course right now).

AnonymousJan 05 2010 3:27pm
If you claim to be familiar with the landscape of American political culture and you've never heard of Mathews, you just exposed yourself as a fraud. I don't agree with him, but it is pretty hard not to know who he is unless you have been locked in a cave for 25 years. Your information is inaccurate, which indicates you are not aware of the bailouts, stimulus package, and other ridiculous moves this government has made. The mindset is that because Bush was bad, it is O.K. for his successor to be even more irresponsible and reckless. If you have children, don't you want them to have any kind of a chance for a good life? You people are amazing.

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