Re: Easy!
Originally posted by 1stdeadeye
AM-
I do not claim to be a guru. I also am not buying into variable rates. As a borrower, I refinanced my home to 5 1/8 fixed. As a lender, I want variable rates so I can take advantage of the upturn down the road. The economy will turn around, because it can't rain all the time.
Now as for the crystal ball comment, I am quite proud to say that I sold ALL of my Cisco stock in 1999 and put a very nice down payment on a beach house in OC, NJ. I did it not because I forsaw a drop, but because only a fool leaves all of his eggs in one basket. BTW, OC, NJ is a very hot market and the house has almost doubled in 3 years! Plus no dealing with renters, the real estate agents handle the weekly rentals which more then pay the mortgage for the year with 12 weeks of summer rentals!
Sold all your Cisco stock in 1999! That was a good move. We actually sold a bunch of stock before the big drop as well but alas not as much as we should have! My family had a beach house while I was growing up and we used to HATE that place UNTIL we got there. Then we had a blast. Back when you are a kid it always seemed that the summer weekend action you would be missing back in the neighborhood was much more exciting than a weekend with the miserable family (even if you got to bring a friend). Looking back on it, however, some of our best childhood memories are from there and it will probably be the same for your kids.
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