First... one might want to consider trading up your house every 3 to 5 years, and if this sounds reasonable to you, then here are some ideas about which to think:
- Buy a house in a new development that anticipates growth
- Make improvements to kitchen and bathrooms only
- Maintain outside landscape
- Watch out for basements
- Watch out for homes on sloping ground or at bottom (water issues)
- Keep house 3-5 years before selling
- Always buy a more expensive house to shelter capital gains
- When retiring sell house and buy much cheaper home - claim one time exception in capital gain
- Could create additional savings of $300,000 or more
Second... buy the car you want and pay it off as quick as you can and when paid off, continue saving your monthly payments until you have saved enough money to buy a new car. Don't buy NEW, but look into a year old car that has been leased (business lease preferred) and has low gas mileage... you save thousands and car is like BRAND NEW...
Remember: those who plan and actually implement their plan and make periodic corrections and/or adjustments are likely to be more successful than those who do not plan.
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