20 year loan for RV?

Matt_Colie wrote:
Millenials and GenXers have it right. Only look at the cost per month and only pay that. If things go bad just go Chapter 7 or 13 bankruptcy. That is how they sell 1000$ telephones and 1E6$ RVs.

I can never again advise anyone to try to save for retirement. I had done this. No big toys and no great vacations for the last 28 years (after the kids moved out was our first chance), it all went into an account to make retirement comfortable.

Then came the abrogation. The regime decided that since they couldn't legally reward the labor organization that supported them well enough, they have to do something else. They did.

Until that time corporate bonds had been treated as real property, like I owned a piece of a building or a 1Kton stamping press. Even if the company was forced to liquidate, I would still get most of my money back. That is not what happened. They decided that they could buy out our (the plan's) interest for 5¢/$. Then they put rules in place that made the cost to recover that 5¢ to be 3¢$.

It was a little too late in my life for me to recover, so I have done the best I could with what I had left and lots of sweat.

Matt

While that is a horrible occurrence for you Matt, I love the value in your situation when it comes to how to "prepare" for retirement.

I am having similar issues currently (not near the magnitude you experienced) in that one of our investments in an employee owned company is appearing very shaky (nothing to do with the economy or the covid, just p!ss poor upper management).
While we are nowhere near physical retirement age, technically, we are much closer financially, but this snafu above could affect that in a 6 figure fashion, pretty easily. And the regulations surrounding it, are of no help to the investors (employees).

I'm working to mitigate that situation, but it does beg the questions...
What good is saving all your life just to lose it or have someone other than yourself benefit from it?
And would you rather enjoy your money earlier while you're younger and have the ability to enjoy it, or risk loosing it or getting dead earlier than planned, thus never reaping the fruits of your labor?

Not that we have scrimped and scrounged by any means, but sometime's life's situations (any or all of them) change one's priorities.


So bottom line, the rest of you can get off your financial high horses....