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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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11518530 No.11518530 [Reply] [Original]

How can I redpill my retarded boomer parents on the pitfalls of reverse mortgages so that I may be able to have a house to raise my own family in instead of being forced into rentcuckery for the rest of my days?

>> No.11518660

Honest answer

Explain to them why taking a loan out against the house makes more sense.

Reverse mortgage you end up losing no matter what


But if your house is worth 600k and you get them to take out a 400k loan on it, then they live off the loan instead of the reverse mortgage they can invest the money they take out to earn a return and the house can appreciate in value by the time they have to sell to pay the loan.

Honestly look into it

>> No.11518674

If value of house will go up, home equity loan makes more sense financially

>> No.11518686

>>11518530
tell them to buy RLX instead

>> No.11518805

>>11518530
Buy your own house faggot...

>> No.11518811

>>11518530
reverse mortgage is smart, thats what im doing when im older

fuck inheritence, let each generation earn their own shit. I don't owe my kids anything

>> No.11518821

>>11518811
I hope you die from exposure, penniless and destitute

>> No.11518849
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11518849

>>11518811
>cracks one open
>braaaaap
>ahhhhhhhh

>>11518530

OP you just got Boom'd. in my experience you can do a three hour lecture to your boomer parents. they will sit quietly and nod. the next day they will take the reverse mortgage

boomers dont do things that make economic sense; they just do what the Joneses do because it always worked out for them (unless they are red-pilled)

enjoy paying rent till you die Millenial cuck

>> No.11518928

Why live if not to procreate and setup your offspring to do the same?

>> No.11519138

>>11518928
Because boomers had it easy and they think "it will build character". They don't understand today's reality.

My advice to you is to offer to do chores and pay utilities and hope they let you live there rent free past 16. If that fails, feign disability.

>> No.11519149

>>11518530

now that’s a smug pepe

>> No.11519245

>>11519138
It's like burning every natural resource on the planet and expecting it to be easier to reach Mars since we'll have had the character building experience of living in a wasteland.

>> No.11519339

>>11519245
He thinks mars is real.

>> No.11519439

>>11518849
>This rings true
Boomers had the benifit of the kind of growth that meant you didn't have to make smart financial decisions, you only had to make any financial decision as your peers ran up a 20 trillion dollar debt and stuck their kids with it.
Do you really think we'd be in 19 trillion debt if boomers gave a fuck what happens when they are gone?
No.
They have poisoned the waters, depleted the resources, filled the labor market with slaves, sold off our industry and blackened the sky. Fuck your house nigger and fuck your future.

>> No.11519862

Why do you feel entitled to their property, communist scum?