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RE: Sustaining Stability

in Reflections15 days ago

Many people I know have purchased a 2nd house and rented it out rather than having a pension. So the mortgage pays itself and they can get 500k or more for it when they retire. It's pretty clever. I am like you and am relying on what the Don does next with my pension. I created a pension in my 20s and went for the agressive option but forgot to change it until I was 40 so I built up a huge pension. In Ireland you can take 25% out tax free when I turn 50 which is 7 years from now so I think I will choose this option and pay off the house to make our lives a little easier when the kids start going to college. But looking at the markets they are still climbing really so I think you could get away with it @bozz and fingers crossed there will be no crash.

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I have zero desire to be a landlord. Maybe when I was younger, but not at this point in my life! Yeah, I think they are pretty conservative with our pensions because they know they have to support all the educators in the state. My other investments are a little more risky and I think that the 10% or so I have been earning there will serve me well. It doesn't make sense for me to just stop working at 50, so I will likely have to get another job or just keep plugging along here.