I paid a house mortgage off completly with ZYL when it ran about...

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longrunsthefox

17,050 Posts.

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19/04/18

06:57

Post #: 32543146
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Originally posted by watso ↑

lol - made lots and lost lots .

these days, watso just has one or two dividend producing shares - and does not even bother tracking the share price

also these days, watso is happy with his asset base, and does not want to risk it .

sadly, there are too many older people who think that they want a higher income, than what they actually need - so they mortgage their properties etc, and get sucked into some "get rich quick" type scheme .

seriously - but watso can live on $10,000 per annum - and have a good life.

looking back, but watso would have been better off (compared to share trading) holding onto the properties that he had owned at various times in his life .. eg the very first property that watso bought was in 1974 and cost less than $10,000... an old house on a 1000 square meter block - but today, that block hosts 3 residences .. maybe 8 or 10km from the cbd.

in the end, watso was stuck with an old house, on a 4 unit block . after allowing for the need to buy something else, if watso sells his property - then watso still would have done better with his property than with share trading (and watso was a BIG share trader. often in the top 10, or top 20 shareholder list)

on paper, the biggest one day gain was about $100,000 - but the shares were in the name of an ex - she had the shares, she had the smarts and dumped watso .. those shares would have made her about $500,000 - but that took care of the property settlement - at least watso did not have to sell his own property

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I paid a house mortgage off completly with ZYL when it ran about 19 years ago . I rang Bernie McGeorge and told him and he was really pleased.
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