How to convince my wife?

[Heidi13]

Remember the saying, "Happy wife, happy life." Also after saying, "I do" the only 2 words to remember to ensure a happy wife is, "Yes, dear."

 

Thanks for the comical topic. Cruising and other holidays are fun, but take money. If you want to keep having fun into old age and also retire, so you can take even more cruises, you need a good pension and/or investments. Best for both of you to hire a professional investment manager and look long term based on both your goals.

 

BTW - why only focus on property investment, and any good adviser will recommend diversifying your investments.

[drsel]

I booked some cruises at some unbelievable prices long ago. Their prices are now up by over 50℅, so I feel really sad to have to listen to my wife and cancel them all.

[drsel]

That is not an investment, that is a money hole.

 

Why would someone "invest" in a losing investment?

 

Unless property values are going up VERY fast in the area you will purchase.

The reason that some invest in this "money hole", is because they expect the property to appreciate 1000℅ or 10 times in 20 years

[drsel]

Remember the saying, "Happy wife, happy life." Also after saying, "I do" the only 2 words to remember to ensure a happy wife is, "Yes, dear."

 

Thanks for the comical topic. Cruising and other holidays are fun, but take money. If you want to keep having fun into old age and also retire, so you can take even more cruises, you need a good pension and/or investments. Best for both of you to hire a professional investment manager and look long term based on both your goals.

 

BTW - why only focus on property investment, and any good adviser will recommend diversifying your investments.

I have other investments yielding good returns. I only buy cruises if i get an amazing deal, that too from the profits generated by my investments.

I never use my hard earned money or investment capital to pay for any holiday.

I also don't have any investment in property (other than my inheritance).

[nascarcruiser]

As far as the investment property, if you can't make the payment from the rent it's not a good move. Mine makes the payment plus $100 after the fee I pay the property manager. Yes get a property manager if you do this. They handle it all from finding and screening tenants to taking the call at 2am when something is wrong. All I do is wait for the property manager to send me the rent and write the check for repairs. The extra income gives us the ability to travel and while we still look for the best travel deal our budget for travel is less strained. For us it's a win win

[Jasalth]

The reason that some invest in this "money hole", is because they expect the property to appreciate 1000℅ or 10 times in 20 years

 

 

My city has a bid on the new Amazon HQ. One of the potential sites is right in my neighborhood. At no point would I consider buying something that will cost me money on the "hope" that Amazon picks our city and in the mean time be loosing money that I could be using for something else.

 

What people expect and what happens are generally 2 vastly different things! In truth, if my DH offered me this "amazing investment opportunity" that "might" pay off in 20 years, I would smack him upside his fool head!

 

IMO the best way to approach this would be to sit down and talk to your wife about what happens if this doesn't actually work out the way she thinks it will. Say the mortgage would be $1000 a month, and you are getting back $250 of it. After 20 years you will have paid $180,000 and add say.. another $20-30k in for repairs and such needed. If the property value doesn't go up as expected but say you can then have $500 rent free and clear a month, it would take you another 33 YEARS to actually see a return on the investment.

 

Like was said the best compromise would be picking ANY OTHER property as an investment property that doesn't cost you money for 20 years! Yes, they say you need to spend money to make money, but spending money for 20 years on hope? Nah not a good thing ever!

[sfaaa]

She thinks that I am spending too much time and money on cruises.

 

Sounds like a serious case of addiction. Seek help before it is too late.

[navybankerteacher]

That is not an investment, that is a money hole.

 

Why would someone "invest" in a losing investment?

 

Unless property values are going up VERY fast in the area you will purchase.

 

Suppose OP is playing accelerated amortization of mortgage - current monthly payments could easily exceed current rental income.

[drsel]

Sounds like a serious case of addiction. Seek help before it is too late.

Are you serious? There are so many who have been on over 50 cruises!

[buchhalm]

Don't some lines actually sell residences on their ships? "The World" springs to mind and Crystal is said to launch something similar. :p

[sfaaa]

Are you serious? There are so many who have been on over 50 cruises!

 

Dead serious. It's an addiction. And the only cure is to book more cruises.

[SRF]

Suppose OP is playing accelerated amortization of mortgage - current monthly payments could easily exceed current rental income.

 

4x times the income????

 

And even once it is paid off, say in 10 years. It will take another 30 to make back the investment.

[Joebucks]

In these types of scenarios, my answer is always the same: you need to find that good balance. Some people spend so much time working/saving that they don't get to enjoy their life. Some people play too much, and it catches up with them. Come to an agreement with your wife and find a better balance. I, too, would fight tooth and nail to not give up cruising. Maybe there are some cuts you can make somewhere to them to keep it more reasonable?

 

I'm also worried about the rental income only being 1/4 of the payment. Something is seriously wrong there. You don't make money renting out expensive homes.

[Husky61]

I love cruising and i know that cruises can be great value, especially if you spot the right deals.

But how to convince my wife? She thinks that I am spending too much time and money on cruises. She wants me to stop cruising and invest the money in property instead. Help! Any advice would be highly appreciated. Thanks in advance!

 

You're asking strangers on a forum to tell you how to convince your wife? You can't be serious.

[drsel]

You're asking strangers on a forum to tell you how to convince your wife? You can't be serious.

I am serious and I have received some excellent advice!

Its good to have different opinions and varying points of view

Edited June 1, 2018 by drsel

[GottaKnowWhen]

I love cruising and i know that cruises can be great value, especially if you spot the right deals.

But how to convince my wife? She thinks that I am spending too much time and money on cruises. She wants me to stop cruising and invest the money in property instead. Help! Any advice would be highly appreciated. Thanks in advance!

 

 

 

Ok, so you invest in rental property. (Been there, done that.) Your free time you spend on fixing stuff or finding (expensive) professionals to fix stuff. Mow the lawn. Fix the flood damage in the basement. Upgrade the electrical system to handle the upgraded AC system the tenants demand. Fix the leaking roof. Mow the grass (it does just keep on growing.) In 20-30 years you will be able to sell the properties and go on all the cruises you dreamed of! In a wheel chair, carrying a COPD machine and oxygen tank. Trying to remember where you are or why you wanted to be there.

 

In short, my suggestion is to live life now, be prudent but not compulsive about a future you may never live to see. It is about priorities. Do you want to spend your free time as a property manager? Building “ wealth” ? Or do you prefer spending those moments away from work instead with wife and family enjoying* yourselves someplace new...

[drsel]

Ok, so you invest in rental property. (Been there, done that.) Your free time you spend on fixing stuff or finding (expensive) professionals to fix stuff. Mow the lawn. Fix the flood damage in the basement. Upgrade the electrical system to handle the upgraded AC system the tenants demand. Fix the leaking roof. Mow the grass (it does just keep on growing.) In 20-30 years you will be able to sell the properties and go on all the cruises you dreamed of! In a wheel chair, carrying a COPD machine and oxygen tank. Trying to remember where you are or why you wanted to be there.

 

In short, my suggestion is to live life now, be prudent but not compulsive about a future you may never live to see. It is about priorities. Do you want to spend your free time as a property manager? Building “ wealth” ? Or do you prefer spending those moments away from work instead with wife and family enjoying* yourselves someplace new...

Oh, I just love your way of thinking!. A man of my own heart!

[drsel]

In these types of scenarios, my answer is always the same: you need to find that good balance. Some people spend so much time working/saving that they don't get to enjoy their life. Some people play too much, and it catches up with them. Come to an agreement with your wife and find a better balance. I, too, would fight tooth and nail to not give up cruising. Maybe there are some cuts you can make somewhere to them to keep it more reasonable?

 

I'm also worried about the rental income only being 1/4 of the payment. Something is seriously wrong there. You don't make money renting out expensive homes.

The monthly rental income is currently 0.20℅ of the apartment value, but it will increase by 8℅ every 2-3 years.

The monthly expense is just 0.02℅, including property tax and maintenance.

While the monthly payment on a home loan is fixed at 0.74℅ on the loan amount for 240 months (no increase).

The capital appreciation can't be predicted, but is expected to be at least 5% pa

Edited June 2, 2018 by drsel

[in2up2]

Haha, this would frighten any young man away from marriage! If this is widely publicized, no man will EVER want to marry.

I never even thought of this (probably wasn't aware if it either), when I fell in love and got married!

 

 

 

Hate to point out the sexism in this but if my DH and I were to get divorced, I'd be paying him. And given the prevalence of divorce, many of those young men witnessed the financial impacts first hand as kids.

 

 

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[iancal]

My spouse loves to travel to Italy and to Greece. Cannot go often enough.

 

So, if I come up with a travel option that I suspect might be challenging to 'sell' I make sure that I include a stop in either of those two countries if at all possible. It makes the discussion go much better!

[drsel]

if my DH and I were to get divorced, I'd be paying him. And given the prevalence of divorce, many of those young men witnessed the financial impacts first hand as kids.

You got a lucky husband!

But I never witnessed any divorce before I got married.

[drsel]

My spouse loves to travel to Italy and to Greece. Cannot go often enough.

 

So, if I come up with a travel option that I suspect might be challenging to 'sell' I make sure that I include a stop in either of those two countries if at all possible. It makes the discussion go much better!

My spouse too! And the cruises I booked (at a steal), include 5 ports in Greece, along with Venice, Croatia, et all!

[rose6]

I wonder if there is more to this story that you are not sharing. Why this one particular property? One would think you might have some more profitable options in your area. You need to sit down with your wife and ask her what it would take to convince her to cruise. Direct communication with your wife might be more successful than you imagine.

[iancal]

drsel....ours to. We arrange a land trip to Italy, Greece, Croatia, Spain, etc. We keep our travel agenda loose and do not book more than a few days in advance. Then we keep our eye out for a last minute Med or Adriatic cruise. Had four like this so far plus numerous in the Carib.

 

If we don't get a last minute cruise we keep on with our plans. One of the best alternate plans we did was to start in Ancona, Italy, take the ferry to Split. Then travel down the Croation coast on the local ferries, stopping at various islands for a few days on the way to Dubrobnic. One of the best 'crusises' that we have taken.

[drsel]

I wonder if there is more to this story that you are not sharing. Why this one particular property? One would think you might have some more profitable options in your area. You need to sit down with your wife and ask her what it would take to convince her to cruise. Direct communication with your wife might be more successful than you imagine.

You are right, there is.

We are currently staying on rent in this one particular apartment, and my wife wants to own the apartment that we are renting, as a solid asset & security in case of any calamity. (Hence I can quote the exact figures and calculations on rent, loan installments, etc in post 43). It is very close to my office in the heart of the city (high property prices). There are very few apartments available for sale in my area.

I am trying my best to butter her up with ideas of a 20th honeymoon (had many before) with many ports in Greece, Italy, Croatia and many more countries.

She also enjoys cruising (not as much as me), and we have been on many cruises together. But she says that we should do maximum 1 holiday per year, not an expensive cruise, but a budget land vacation.[emoji33] [emoji25]

Edited June 2, 2018 by drsel