Why are stairlifts so slow?

[Rod Speed]

You don't have to have paid off the mortgage to be able to change houses, stupid.

[Commander Kinsey]

You do if you're getting a bigger more expensive one.

[Rod Speed]

Wrong, as always. You sell the earlier one, use the amount you receive from the sale, less what you owed on the mortgage as the deposit on the new mortgage.

You don't even have to sell the earlier one, just take out the new mortgage, rent out the earlier one and use the rental income to keep paying off the earlier one.

That's what we did when the mate of mine discovered that he could get a much better job in sydney and the place they were renting in sydney was sold,

[Commander Kinsey]

If you aren't fully equipped to be a man, you're a woman, even if just as an insult.

[Commander Kinsey]

Any of these things require you to either have a higher salary than before, or to have paid off a decent amount of your mortgage.

[Rod Speed]

That's wrong too when the new place is the same value as the previous one, just somewhere else or in a different config more suitable at an older age, or when you didn't borrow to the limit of your salary previously, or interest rates have dropped, as they have.

Which you would have done if you had lived in it for long.

You don't have a f****ng clue, as always.

[Xeno]

Well, yes, we did manage to do that. It wasn't easy when interest rates ramped up to 17.5% soon after we bought our first home in 1986. First one took 12 or 13 years, the next bought in 2003 took 3 years and this one bought in 2013 we never had a mortgage on. We had an investment property under a mortgage for 3 years and divested ourselves of that when it became inconvenient in 2003 because we were downsizing and moving interstate.

[Xeno]

True. We just put all our efforts into paying our mortgage(s) off asap.

[Xeno]

The existing mortgage gets paid out and you start a *new one* when you buy the next house. That is the way it works here though I have never done it that way. Mine were always mortgage free upon sale.

[Xeno]

Nope, you still remain a man, just dickless.

[Xeno]

If you aren't getting a higher salary as you progress through your career, you don't have a career worth mentioning.

[Xeno]

Which proves that self education doesn't always work, as you have proven in your case. Here, go educate yourself but do it properly this time;

[Ed Pawlowski]

Wow, I have to thank Mr. Rod for the laugh calling you stupid for paying off your mortgage.

On my third house and, of course, no mortgage. My secont house started at 15% and re-fi a couple of times. Can't say I've done everything right over the years but I knew retirement would be much better with no debt.

[Xeno]

Rod is always a laugh and, a lot of the time, an embarrassment.

My thoughts precisely. Between owning a mortgage free house and a superannuation pension, we live quite well.

The thought of renting into retirement was a real deterrent, as was a mortgage into retirement. A couple we know, the husband into his early

70s, is still working because they have a $300k mortgage. Not an enviable position at all and not one I would want to be in.

[Ed Pawlowski]

Crazy. i bet if he was a bit smarter he'd downsize and lower or even eliminate that expense.

I worked past retirement age because I wanted to but everything was paid. I cut to four days, then three days, finally out. My job was easy and as much a social event as it was work.

[Commander Kinsey]

Easier said than done. Expenditure always exceeds income. Unless you have a magic wand or are really good at breaking into safes, you'll always be in debt.

[Commander Kinsey]

What bank leant him money at that age?

[Commander Kinsey]

Maybe he prefers working to living in a tiny house?

[Rod Speed]

Yes.

Mine never did, even early on.

I havent been for more than 30 years and with the last of it, the interest on the land purchase was much lower than I was getting from the bank, let alone what I was making on the stock market.

[Rod Speed]

All of ours do and they mostly will lend you money on your fully paid off house with them getting a percentage of the value of the house when you die too.