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40 year olds, what financial advice would you have for a 30 year old? (sh.itjust.works)

submitted 3 days ago by StarvingMartist@sh.itjust.works to c/asklemmy@lemmy.ml

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50 and older, I'm sorry, but in my personal experience, your advice has been a little out of date.

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[–] grue@lemmy.world 5 points 3 days ago

If you can afford a house, try as hard as you can not to buy a house that you can barely afford with a 30yr mortgage. Limit yourself to a house where you can afford it with a 15yr mortgage. I did that in my 30s and now in my 40s I don't have a mortgage anymore. Obviously with the current housing market this advice won't help many.

I got a 30 year mortgage at a fixed 2.something % 15 years ago and am very happy with that because I could invest more in stocks with a higher rate of return.

'Course, with the current interest rates that won't help many either...