We never had extra cash to purchase gold or silver. We had to use most of our retirement savings for a life-threatening medical situation for one of our children (after we retired) and haven't (and won't) be able to build it back better (or at all actually).
Sucks, but we can make it - not including debt payments.
They used to have debtors prison...
I wouldn't be fooled for a second thinking that anything you owe will be forgiven - I mean, why should it be?
Funny how we all want integrity and a system with integrity, but kids want their college loans forgiven, and now same with people putting Disney vacations on credit cards living in fantasy $80k in the hole at 35% interest - while others lived within their means and sacrificed.
Should people who sacrificed and paid off their debts, and controlled their impulses be ignored and those who can't control themselves reap the benefit of a clean slate???
Asking for a friend... because she told me that'd be really fkd up.
My house is paid off and I have zero debt. On the flip side, I've always lived fairly meagerly and have never spent money on expensive cars, vacations, luxury items, etc.
Seeing people who are financially irresponsible get a free pass to start over would be an insult to those of us who spent a lifetime sacrificing so that we could live within our means.
I am the same. Debt free because my wife and I choose to live way below our means.
I think it would be fair to tell people with debt that they must pay back what they borrowed over a certain amount of time without interest. Or maybe everybody is given the same amount but those in debt much pay the debt first. I really don't like that idea but it is better than screwing over the people that were responsible with their funds.
That's what I'm saying... I feel the same way about families that are whippin a 15+ year old hoopty while paying full tuition...It wouldn't be right.