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Rent is Robbery
(lemmy.ml)
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this post was submitted on 23 Dec 2023
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Stocks, Bonds, Index Funds, 401k. Go talk to an advisor.
Again, all of those are in essence stocks that can be lost in a crash, if someone hacks my account, the bank fails, etc. When it comes down to it, those are just numbers in an account that one day could go to zero. One could argue that is not likely to happen, but if it did, what recourse would I actually have?
I retired at 52. I don't need financial advice. My point was that I wanted a tangible asset. If I choose diamonds or gold someone here would get just as upset that those were essentially covered with blood and they are. I wouldn't want to do cars because I don't consider it wise, don't have storage, don't want to pay the insurance, etc. Real estate is an obvious choice. It makes a very good investment, but clearly in this thread it's evil.
So you're well aware that alternative investment options exist and all this "what am I to do? Rental housing is the only thing to invest in" is just nonsense.
Yup. Just like if someone invested in diamonds or gold, people upset about it wouldn't give them a pass if they said "I just wanted a tangible investment".
You complained about spending 30 years making someone else rich, and now you're retired off the back of your renter making you rich. Your example of a "bad year" was $2500 profit after paying for repairs from a tornado, for a property you don't need or use.