Still struggling?

  • Posted by AJC
  • August 1, 2008

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Frankly, I am surprised that I haven’t received more questions along the lines of Debbie’s question about encapsulating her Life’s Purpose in a short statement.

I mean, if you think about it, how can you possibly capture the most infinite of concepts in the most finite of methods … a simple sentence fragment?

Yet, it may work for you as it did for me, so here’s Debbie’s question:

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August 1st, 2008
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Comment Number:
1
Written by:
Ryan
Posted on:
August 1, 2008 at 5:01 pm

ajc,

I agree about the “mantra” type life purpose statement, it’s impossibly difficult but a great exercise!

On a seperate note, regarding “the number”. I know you’ve touched on this briefly before, but when considering a multi-million dollar home to live in during retirement, would you suggest putting in a number to rent or to pay for a mortgage? If for a mortgage, do we assume a certain percentage down? And what kind of interest rate can we assume we’ll get in 10-20 years?

Thanks!
-Ryan

Comment Number:
2
Written by:
AJC
Posted on:
August 2, 2008 at 12:03 pm

@ Ryan – I’m assuming 100% cash, mate! Alternatively, you multiply your rental or mortgage payment by 20 (to 40) to make sure that you have enough investment income to make the payment. If you have a fixed mortgage, you could actually multiply by only 10 because it won’t inflate.