Planning our final add on (OKW)

[sajetto]

My husband and I are thinking about our very last add on for sometime in 2009. We are in love with OKW and own 150 points there that expire in 2057. We are 24 and 28 years old so those extra years are pretty important. However, we've been thinking of adding 200 additional points through resale that have an expiration in 2042. The price is the same as buying 150 2057 points, but gives us more to use NOW, for less money. Our thought is that by the time they expire, DVC will have changed quite a bit. They might offer more extensions as the years go by, or build more resorts that may hold even more interest (although as of yet, we haven't been as attracted to any of their other resorts)

Is this line of thinking reasonable or is it too much of a gamble? Does anyone have any words of wisdom?

 

[CarolMN]

IMHO, your thinking is very reasonable. 2042 is more than 30 years away and as you say, many things can change by then. That includes your financial circumstances, which probably will get better.

Personally, I am surprised at the number of people who place a lot of value on the 50 year contracts. It will be interesting to see how many members actually keep their contracts that long. (Many don't keep their husbands or wives that long and very few keep their homes that long, LOL). Obviously, I have no data, but I'm willing to bet that there is a sizable percentage of members who sell their contracts before the 10 year mark.

If we were in the market for OKW points, we'd buy to use now. JMHO. YMMV.

Assuming the dues on the "extra" points don't strain your budget, just do what's right for you and don't worry about "gambling" that you'll wish you had the points 34 years from now.

 

[sajetto]

Thanks Carol. Now I'm kind of wishing that we had just bought a larger contract with an earlier expiration when we got those 150 points. No big deal though. Thanks for the insight.

 

[DeeCee735]

We own at BW which also expires in 2042. Being that I'm always in a state of borrowing points, we will only be able to use it til 2040 or 2041..... which is very laughable since we'll be in our 80's by then anyway.

Point being, Carpe Deim - live for the day......anything can happen in the years ahead. This of course, is JMHO, but I think you should buy what you need/want now, what you will use and enjoy in the foreseeable future and live for today.

This was our thinking when we bought in, not "will the kids still want to go to Disney when they are 20 (they are 18 already!)?" Will we get tired of it in 10 years (we already own for 8, and can't wait to go back time and time again)?", "Will our grandchildren have enough use out of it (considering on average they'll only be in their 20's when it expires)?"

Who knows???? Maybe we'll have 10 grandkids, maybe we won't have any (God forbid ), maybe our kids will want to use it more in their 20's than they did when they were 13? Maybe we'll tire of it next year (soooo not likely), maybe we'll be driving down when we're 80? As it is, my health through us quite a few surprises over the last couple of years, and ya know what - I went to WDW more when I was going through all those issues than before! And now, I know I'll go every chance I get because my view of living for today was renewed.

Too many maybe's.....buy for today, live for today and most of all ENJOY EVERY MINUTE.

Good luck with your decision.

 

[Safari Queen]

Here here!! We all need to enjoy today more and not obsess on tomorrow.

 

[sajetto]

Thanks DeeCee. I think we've really over focused on tomorrow, rather than today. We've made our definite decision to buy a resale OKW contract. I just wish we could do that add on sooner rather than later. We're guessing that the funds won't be available again until January of next year, but when the time comes, we'll be headed to TSS instead of DVC.

 

[rsinj]

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[sajetto]

rsinj, be careful about the assumptions you make. Yes, I have a 403B, Roth IRA, stocks, bonds, and multiple other savings accounts. I also have my own financial advisor who has worked for the family for years. I think its safe to say that I have more in retirement than those CLOSE to retirement. When I say the funds won't be available, that means that I've got other plans for the money I call my "fun" money until that time. I pay cash for EVERYTHING.

Be concerned about others who put the country's financial future at risk. I'm not one of them because I make a large contribution to society. I am well educated with a Master's degree as well as my husband. Our income and spending habits are our own and not for you to worry about. Thank you for your concern though.