This comment of Patty's in the Prom thread gave me the idea for this POLL
Since America is such a transient society, I thought this would be an interesting non-controversial thread Caveat: See NOTE below.

You may also want to POST whether or not you LIKE your answer. There may be people who feel 'stuck' in their town for whatever reason OTOH, there may be folks (military or corporate climbers) who LIKE moving around a lot

I'll be back later to give my answer.....

NOTE: Use the number of years in the same general location....town/ city/ village.....not the number of years in your current house/ condo/ apartment/ tent For the sake of consensus, let's say that a distance of more than ~10 miles constitutes a 'move' to a different community.

 

I've lived in my town for 27 years. Before that, I lived in the city I still work in. That's about 5 miles away. Spent my entire life in this area except for one year in VA.

Rick's been in the same town all his life.

 

We've lived in the same small town (actually an older suburb of Philly) for 31 years.
We moved here in September 1974. Its hard to believe that....at that time...I was a pre-Vint

 

I grew up in the town I currently live in, but wasn't born here. Left to join the Navy when I was 18 and settled in southern Colorado for the next 27 years - then "came home" about 11 1/2 years ago. I plan to retire next year and have all intentions to stay here for a LONG time!!

 

Well, I'm still under 50 so 21 years in the same house isn't too bad.

 

So, so far, we all have equity in our houses. According to Ric Edelman, who has authoured several best selling books on wealth management. One never wants to pay off one's mortgage. As the tax right off and equiity can work for you. Whereas if you pay off your mortgage you loose the itemized deduction, as well as the associated benefits.

Any thoughts on this?

 

Yes, . It's better to pay it off and make interest or dividends on your money some way. We paid ours off relatively quickly, as I was working too when we bought it and Andy kept doing better every year. Now it's worth 4 or 5 times what we paid for it.

 

Before moving to the Napa Valley, I lived in Silicon Valley for 27 years, 21 of which was in the same house. Now my grandparents lived in their same house for over 50 years. (I think they were married 67 years before my Grandmother died)
Matt, here are my thoughts on the home mortgage. If you pay the bank a dollar of interest out of one dollar of wages, you save 35 cents in taxes (the highest tax bracket) but it still cost you a net of 65 cents. But if you have no loan, you keep your dollar, and owe the IRS 35 cents in taxes. But you have 30 cents more in your pocket than if you had a loan. My advice is to pay off your loan, UNLESS you can invest the money in something that will give you a higher return than the rate you are paying on the loan. (without a major risk to you).

 

Moved to Plattsburgh in May 1972, We've been in same house since June 1990.

 

8 years in Sligo, Ireland.
16 years in Portmarnock, Ireland.
9 months in The Bronx, NY, when I first moved here.
5 years in Park Ridge, NJ.
1 year in Clark, NJ.
5 months in Avenel, NJ (ex-gf kicked me out ).
2 years in Plainsboro, NJ.
1 year, 6 months in Princeton, NJ (we got evicted, but that's another story!).
5 years in Cherry Hill, NJ.