You're doing great, if you invested in real estate. You have assets. My wife's sister and her husband had a house in Fairfield, CA but sold it and wasted the money. Later, they bought another house (at higher prices) but again sold it soon after and wasted the money. They repeated that in Denver Colorado. Again, sold it within a few years and moved to Hawaii for job purposes but rented. They're wasteful with money, and have nothing to pass on to their 2 adult daughters who are struggling with expenses. Now they pre-purchased 4 expensive ball game tickets for them and us to attend a game when they visit a couple months from now. What a waste.
We own several properties, are debt free and have liquidity, built up over decades of work. We started out with nothing, both from poor parents, same as wife's sister. Life is all about choices we make. Our choice is to live within our means and prepare for our old age (we're there now). Our adult kids are doing likewise. They have careers, homes, children; unlike their cousins who have nothing and are struggling in their 40's. I remember a quote from the Travolta movie "Saturday Night Fever" where Travolta says to his boss "F... the future!", and the boss says "No, the future F...s you!". That quote has served us well.
That’s fantastic to hear! I love that! Congratulations on building what is also likely to be a legacy for your kids and grandkids. It’s ironic that your sister in law sold the Denver property for Hawaii as equity has boomed the last three years here - and I hear Hawaii is another blue state gone to hell. When or if your kids are ready to invest, I would point them to JWB Capital in Jacksonville. They have lots of SFH inventory at $180k to $240k with workforce housing areas. They sell you the properties then take over lease management, filling them with 2-3 year leases. With the new stadium being built by 2026, the downtown will likely explode - along with the equity! 😎