First, let me begin by saying hello to all the readers. Yes, I have been away for quite some time now. I have been busy as I am not 100% fully retired. No, I am still working but because I love what I do. I could retire completely if I wanted to. But what would I do with all that time on my hands. That is the challenge many of those who retired young are faced with.
Secondly, I want to thank all those readers who continue to come to the website to check if I have any new content. I checked all readers who have subscribe to my newsletter. We are up to over 1,200. But many have not clicked on the confirm email that they receive once they subscribe. The reason I have that extra step is to make sure that you are really wishing to add yourself to the newsletter.
Now to the topic.
The Economy
I cannot believe that now we are facing a situation where 30-year mortgage loans are hovering in the 6%. Just a few months ago, we could get a mortgage loan for half that, around 3% if you had an outstanding credit score, 800+.
The Federal Reserve keeps raising the interest rates in an attempt to put the brakes on the economy. Inflation, inflation. Everything has gone up in price after the pandemic. The housing market took off and with interest rates that low, people were buying homes that otherwise they could not afford.
Now, with the interest rates this high, most folks cannot afford a home because most of the monthly mortgage payment goes to the interest bucket (the bank).
Real Estate
This is what I am doing right now. I am sitting on a nice cash position and getting ready for next year, 2023 (summer) to purchase another property. Right now, the real estate market is beginning to go down south. There are homes that have been on the market for over a month with no offers in sight.
If you are in the market to buy a home, I would hold off.
I do have some funds invested in the stock market. That is where I have made most of my wealth. Yes, the stock market has gone down YTD, around 25%. No worries, this will all turn around soon. In fact, I have added more money to my portfolios now. This is the time to get in.
Blog
As you all know, this is a blog, a personal finance blog, so I will keep my posts short, quick and dirty. Heck, nobody is paying me to write these articles, right? So, I do it for you. Because I know some of you would benefit from what I have done for myself and I do not mind sharing the goodies here if it helps you reach your financial freedom, which by the way, is not that difficult to attain. Read some of my previous posts and put those tools to work.
Until my next post. and also, if you want to add your email to the newsletter make sure you confirm it on your second email.