u/chewybrian

I am a 60 year old single man hoping to retire in about 7 years. I make less than 60k/year. I was completely broke at 45 and I saved hard to get to a paid off condo (@60k value) and about 200k in my 401k. My only debt is 15k on a 25k car.

Part of my saving strategy was to be house poor to leave money for the 401k. Now, I would like to upgrade my housing. I can find what I want for about 150-175k.

I want to know what impact that move is likely to have on my retirement outlook, and what strategy I should use if I do get a new house--how much to put down, should i go fixed or adjustable, should I buy points or try to pay off the mortgage early, etc.

thanks

So, I went from absolutely no credit history to 751 in the last 2 years. Now, I can get a mortgage. I want to help my nephew do the same thing--without exposing my own credit to any risk in the process, if he does not manage the process properly.

My idea was to deposit a few thousand in the credit union and allow him to use it as security for a credit card (that was my start, along with a car loan). But, it seems that this is not allowed for some reason.

So, is the only option to just gift him the money and let him do it on his own? He simply won't save on his own, because he is convinced that it is not possible to save.

My issue is not with the gift. I would be happy to gift him a down payment for a house once he is qualified and ready to buy. I just don't want to risk the money when there seems to be a fair chance that he would not manage the process well enough to end up getting qualified for a mortgage. And, the very last thing I want to do is to put my own credit at risk.

What options do you see?

I am a 60 year old single man hoping to retire in about 7 years. I make less than 60k/year. I was completely broke at 45 and I saved hard to get to a paid off condo (@60k value) and about 200k in my 401k. My only debt is 15k on a 25k car.

Part of my saving strategy was to be house poor to leave money for the 401k. Now, I would like to upgrade my housing. I can find what I want for about 175k.

I want to know what impact that move is likely to have on my retirement outlook, and what strategy I should use if I do get a new house--how much to put down, should i go fixed or adjustable, should I buy points or try to pay off the mortgage early, etc.

thanks

I am considering moving there. Is it safe, is it nice? Is there anything fun to do? I know I would like being able to go to the races in Hot Springs, and there is a disc golf course nearby. I also like hiking and cycling--any options in town or close?

I will be retiring soon and I work from home, so (fingers crossed), I probably would not need to look for a job there. I would go to school at Henderson State. Not sure what else to do, though. I see there is an Amtrak station, so I could take the train to see a game in Dallas or St. Louis or Chicago. What else you got?

Someone tried to open a credit card account online today in my name. (thank you, Credit Karma, for the instant heads up). This already showed on my credit report as a hard inquiry. I suppose that means that someone has a fair amount of my personal info.

My response--I called the would-be credit issuer (Barclay's bank) and made them aware of it. They said they are taking care of it. I froze my credit with Equifax, Experian and Trans Union. I filed a report with the FTC.

Does anyone know how quickly I might see the ding and the hard inquiry go off my credit report? I am trying to buy a house, which is the only reason I have any credit worth stealing at this point.

I also want to know what else I should do to protect myself. The FTC site says that a freeze stays until I lift it. Is that enough? Should I file the extended fraud alert? Is it worth getting one of those services, like Lifeloc?

This is all new to me. I'm quite nervous about it, but I feel like I've done what I can so far. thanks

I can't spin on my heel and get any power on my drive. When I get some brace going, I feel my right foot load up to the outside and toward the front, and it more or less keeps me from being able to lift my toes to get that spin on the heel.

When I focus all my mental energy on pivoting on my heel, I don't really get a brace and the shot goes nowhere.

I feel like I've tried nothing and I am all out of ideas. I've looked and found no form videos explaining how so many other people do this, so I feel like I am alone on this, and feel stupid for asking. I want to be able to get power without risking injury, and so I am asking if anyone else went through this and found a way to overcome it. thanks