My wife and I got out of debt entirely, and our lives RADICALLY changed for the better. We're able to save so much more for retirement and for the things we want, and we don't make any more money than we did before, all because we weren't having our money siphoned out to pay a little bit of our debt at a time.
but how exactly are you 'saving' for retirement? are you putting it in the stock market? well that's a house of cards. are you saving it in cash? even worse given what the feds can do with the money supply. i agree with wormself, debt is just another instrument. we have a ton of debt, but it's all pretty much in real estate that cash flows. over the years, this debt will go down as it's paid down and as the value of money decreases while the cash flow increases. you should read rich dad poor dad and consider getting out of the dave ramsay mentality.
I’m not saying you are wrong, and that is fantastic that you understand the power of that. You are obviously disciplined and if you weren’t before, you grew and you are now.
Now that you have discipline, think about NOT putting all your eggs in one basket. To me, debt is another one of those baskets. I want a little, more right now. Every time I buy something on debt right now, I am paying it back with dollars that are worth less.
it is why I have a 30 year fixed loan while being retired. I earn more interest on the investments than what the interest is on the debt. Add to that inflation over the 30 years and the bank becomes the loser.
My wife and I got out of debt entirely, and our lives RADICALLY changed for the better. We're able to save so much more for retirement and for the things we want, and we don't make any more money than we did before, all because we weren't having our money siphoned out to pay a little bit of our debt at a time.
but how exactly are you 'saving' for retirement? are you putting it in the stock market? well that's a house of cards. are you saving it in cash? even worse given what the feds can do with the money supply. i agree with wormself, debt is just another instrument. we have a ton of debt, but it's all pretty much in real estate that cash flows. over the years, this debt will go down as it's paid down and as the value of money decreases while the cash flow increases. you should read rich dad poor dad and consider getting out of the dave ramsay mentality.
Purchase solid assets. Start with land.
And keep the land out of the hands of Bill Gates.
Gotta have money to make money they say.
When you purchase land, you still don't actually own it, you are paying taxes to the govt on that land, it's such a joke. They have us enslaved.
I’m not saying you are wrong, and that is fantastic that you understand the power of that. You are obviously disciplined and if you weren’t before, you grew and you are now.
Now that you have discipline, think about NOT putting all your eggs in one basket. To me, debt is another one of those baskets. I want a little, more right now. Every time I buy something on debt right now, I am paying it back with dollars that are worth less.
it is why I have a 30 year fixed loan while being retired. I earn more interest on the investments than what the interest is on the debt. Add to that inflation over the 30 years and the bank becomes the loser.
Agreed.
Being debt free is king.