“Renting is buying the option to move.” Exactly! Love that.

@kennyobrien

3 жыл бұрын

Ditto. That's the phrase that really stood out in this convo.

I am 61 and, when I was 20, there was definitely a prevalent “American dream” of getting a degree, marrying, starting a family and owning a home. That’s what my parents had done and we followed their example. I haven’t felt deprived having made those choices, but that doesn’t mean it is the only “American Dream” to pursue today. There are many dreams that lead to many different paths and many satisfying outcomes. A college degree may even thwart certain dreams because of the debt it puts on the backs of graduates. My kids both work for themselves in jobs that embody their passions. One is in the process of purchasing a home because he knows where he wants to build his life with his wife. My daughter might never own a home because she lives in and loves the very expensive state of California. But her family has a great home that they rent, they go to the beach with their kids every chance they get, and they are happy knowing they have the flexibility to stay where they are or can change locations as they see fit. Both are living the dreams that fit them. No one answer. One thing we all embrace is some degree of minimalism. Possessions do not guarantee happiness.

Having a mortgage isn't ownership, it's renting from a bank. When I buy a house, I want it to be mine on day 1, not day 10,950.

I discussed renting vs. buying with my financial advisor bosses for years. I'm told I'm wasting my money renting. I told them all the money and time I save by renting. No money spent ON property taxes, home repairs, lawn care, snow removal, gutter cleaning, HEAT, etc. Renting makes sense for MY situation where I don't have kids, don't need more than 800 sq. ft., and I have a bad back. I LOVE moving to new, fresh places once in awhile. I'm not tied down to a money pit home. BTW your show is my happy place. I'm so thankful to have found it. We have similar life values and as someone who works for a man who's strictly driven by money, this show is reassuring. ❤

I wish the question "Does minimalism work for poor people" in particular was not part of the Patreon episode and available for everyone. Last year the Minimalists claimed that if you're struggling financially they weren't pressuring you to pay for their Patreon, but now they are putting a question that may be helpful for those of us that are struggling into their paid-only episode. I'm sure they have many other questions that they could have put in the patreon episode. Hopefully they reconsider making an allowance for this question and put it on their youtube channel as a short clip.

You guys feel like home, every now and then I stray I get caught up in the wheel of working and being busy, I love what I do, but then I get caught up trying to live someone else’s dream and I forget there’s such a thing as this. Thank you for this value you bring to my life!

I wanted to thank you guys & Colin Wright. Thanks to minimalism my family & I are able to move from Northern Iowa to Southern Los Angeles in just our minivan. Minimalism has allowed us to let go of things and to bring in experiences like this adventure!

Excellent discussion! It’s imperative to define what your personal goals and aspirations are rather than conforming to society’s template. On a side note Colins voice is amazing...smooth like butter 😭

'The difficult things that are not comfortable are valuable, and you can take a certain pleasure from that' - what a fantastic point.

I love how you nailed it regarding a bank loan! I am proud of you all as over comers!

Debt can kill your dreams.

This is one of my favorite podcast from you guys. I think there was such great thought, intention and so much to learn and take with to live life with from this episode. I truly enjoyed hearing answers about what freedom means to each of you. I also enjoyed the breakdown of the responsibilities and the perception of home ownership. Thank you for another awesome, food for the brain episode.

Discipline equals comfort - I like this

I loved listening to you and Colin!! Bring him back sometime! What a great discussion.

Great discussion!

Love you guys! 💗 you all definitely add value to my life. Hey but we bought our house 15 years ago..got permits for a back house & now rent the back and front house and has created cash flow. I think this is a topic that has been forgotten. It was definitely an investment for us. We are in Los Angeles County though. Where housing is on high demand. I guess it depends where you live...right now real estate is over valued..

Thank you!

Financial freedom has become my personal goal and dream in life. I've spent the last five years working to spend less and save/invest more (Boglehead investing)... I owned a townhouse for 7 years... The value of the townhouse basically kept up with inflation; and when we sold it that increase had already been spent on maintenance and improvements. Because of that along with closing costs, taxes, and interest, I do not view mortgaging your primary residence a good investment worthy of the label "American dream"... If the thought of a mortgage makes you feel claustrophobic, just RUN AWAY!! (And rent)

Oh can you have Leo on the podcast sometime? I love his blog.

@maryhuang639

4 жыл бұрын

yes they should!

Here (The Netherlands) we have 0% down, 30 year mortgage as a standard. You do have to pay notary fees and taxes out of pocket usually this is around $10.000 but the rest is all mortgage. However I’m currently on a 1.8% 20 year fixed term with a 30 year mortgage so it’s a relatively good deal in my opinion. And I did put 30% down just because I want that safety net, but it’s not required at all.

Sweetness! I like Colin so much! I like hearing his voice. LKT best show ever! I think I am with you guys from that time 2009-10! My friend from brafitting community was travelling and she was sort of minimalistic. It seems I was thrown to good environment in the right time.

why not have a mortgage that is cheaper than rent... if you rent you will never see that money again. If you pay into a house you can sell the house and get that money back? I dont understand why you would rather pay someone elses mortgage and get nothing back?

@michellem6219

5 жыл бұрын

I bought my first house at 17, never rented in my entire life and I'm now 58. Paid my mortgage off at 40, retired at 55.

@melaniegodwin8791

5 жыл бұрын

Your mortgage may be cheaper but the upkeep on a house is your responsibility and that can add up. Home prices are overvalued as it is and unless you plan on living in that house a loooong time you wont make your money back unless home prices continue to be overvalued.

When will the new documentary be available ? :) I can't wait

After talking about what is freedom, I feel like I'm not as free as I wish to be at the moment. Mostly because of my debt. I made a budget, yet I feel like it doesn't always work the way I wish it to. 19:15 Well said!

| Thank you |

Well, calling the landlord to fix things that are broken is not entirely true. If a tenant has lived in an apartment for a prolong period of time. The tenant can be responsible for a certain percent of the bill. But, iI suppose its better than having to pay for the whole thing.

You All look Dreamy to me!😁

50%! Wow

The first 😍

Problem is when you buy the house outright you still don’t own it. Have to pay property taxes or they take it. Basically renting and buying I add to the life cost of doing business.

Can you interview Mark Manson?

The sickness party

AH! I use whogivesacrap too!

Wow I just purchased my family home, and now you guys just seemed 2 have stomped all over it... this was my dream and I think there are both pros and cons of home ownership. It is all about what you as a person want.

@jessechannon8342

5 жыл бұрын

Purchasing and reselling a property gave me the freedom to move to a different country. The way I look at it : If rent and a mortgage is almost the same; even with 30 years mortgage you pay off when you are 60 yo. If you want you can sell your property at 60 and get $500k cash for your house and start renting. However if you always rented; you will have $0 cash and continue renting. "Owning" a house is one luxury i like to pay for; but i guess it's not for everyone.

@jjuniper274

5 жыл бұрын

At age 50, I've owned and sold 4 houses now, don't feel bad. Each was a stepping stone to more asset-building. As a rule, I don't usually change the structure of the home until I own them, but repairs I do regularly, because I see homes as temporary living spaces that are entrusted to me, and not fully mine, but partially the bank's. I'm not sure most would agree with that, but it is how I see it. 😁✌️

Not to bash baby boomers, but my experience has been that those ages 53 and older are just the most blatant consumers I've ever seen. Maybe I'm just living in a place where "stuff" is seen as a status symbol? I don't know. All I know is, I would hate to be their kids when they pass away. Dealing with all that stuff is NOT fun!

@markchalloner5883

5 жыл бұрын

I recently had to deal with cleaning out my parents house after they passed. It was rough, they kept everything, and the box it came in. Tons of photo albums, knick--knacks, and closets full of old clothing. I just took a couple of small mementos, and hired an estate sale company to handle the rest. It really made me think about what things I allow into my house, and what else I can get rid of.

@jjuniper274

5 жыл бұрын

I had to clean my aunt's and my parent's houses out. I also took what I felt were good items, and then I also had an estate sales agent (a good friend) to help me. She said both ladies were very neat and organized. It was better than sorting thru piles and piles of papers and junk. My mother and her sister were very tidy.

@michellem6219

5 жыл бұрын

You should clarify American baby boomers. As a 58 year old Australian I've been minimalist pretty much my whole life, all my siblings are minimalists and all our kids are minimalist. Paid my house off at 40, retired at 55, easy to do when you're minimalist. I actually only have one friend who I would say is a compulsive consumer. My parents(in their 80's) are the most minimalist people I've ever known, I would easily be able to clean out their house in half a day.

@jjuniper274

5 жыл бұрын

American consumerism is at a fever pitch. I see folks of all ages going crazy, including myself...the first solution to a problem, is to recognize you have a problem. I think most don't. And most certainly people all over the world behave differently, and cannot be pigeonholed. I see boomers here (USA) packing their lives SO full of stuff, I just feel every sorry for the kids...as they are ultimately the ones to clear it out.

Who has 50% to put towards a down-payment? Perhaps that is something that is possible mostly in the US which is understandable since you guys only cover the US culture and viewers but it can be quite different in other countries with different standards of life.

@emmatessier600

5 жыл бұрын

This is actually possible no matter where you live, it will only mean postponing the time you buy the house, probably by a few years. I think houses in some parts of the US are VERY expensive, but in some parts VERY cheap.

@jjuniper274

5 жыл бұрын

If you start small, and build up, it can be done in the US.

👍👍👍💥💥💥💥💥

Not only the 30 year mortgage "norn", but also remodeling shows that establish the "norm" that it's ok to spend $1,000,000 on a home and then another $200,000 to remodel it.