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Jan 15, 2021
10:50:16am

SFarkus Redshirt Freshman

The fixed 30 year mortgage is one of the best financial tools out there. Keep

the money in your pocket to invest while the bank loses to inflation

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SFarkus

Bio page: SFarkus
Joined: Mar 16, 2020
Last login: Apr 26, 2024
Total posts: 524 (0 FO)

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Messages

Author

Time

Paying off debt quickly can be overrated. For example, my buddy and I graduated

1/15/21 10:28am

Leveraging interest rates can work if you don't mind the burden

Archaea

1/15/21 10:32am

It depends on what you do with the money instead of paying off debt. If you

benny1982

1/15/21 10:33am

This. If you just buy stuff, then paying off debt is better.

Archaea

1/15/21 10:35am

People also overrate their acumen when the reality is they just happened to buy

rcbyufan

1/15/21 10:36am

Bull markets turn everyone into geniuses

Big Daddy D

1/15/21 10:38am

Ha ha. SOOO True

Babyboy

1/15/21 10:39am

And bear markets make us all idiots.

Archaea

1/15/21 10:40am

Yeah, having good timing does not mean that "get out of debt" is bad advice.

1/15/21 10:43am

Nice. But recognize that this runaway bull market can not always be relied upon

Big Daddy D

1/15/21 10:37am

Some professions allow for this sort of arrangement; some do not.

Archaea

1/15/21 10:38am

some people worship the Dave Ramsey philosophy of no debt

run26

1/15/21 10:38am

No debt is a fantastic way to live though.

Archaea

1/15/21 10:41am

With a no debt philosophy you can only imagine buying a house.

1/15/21 10:43am

I know a doctor who rented until he saved enough to pay cash

Archaea

1/15/21 10:53am

That's pretty dependent on home size, location, etc.

Eddie

1/15/21 1:31pm

Where I live, appreciation outpaces interest by far. I'm being paid to own.

1/15/21 2:18pm

Me too. I'll admit, I mostly worry for my kids. But I worry for EVERYONE.

Eddie

1/15/21 2:42pm

It also sucks in some ways. the main reason to do it IMO is to force yourself

jkccoug

1/15/21 10:52am

One will rarely be uber wealthy, but one will also rarely be forced to scramble

Archaea

1/15/21 10:59am

One other reason I hate Ramsey

andrewth

1/16/21 5:04pm

Great point. As long as you have a reliable source of income

ForzaPuma

1/15/21 10:48am

I totally agree. I would've totally bought bitcoin at 50 cents had I known...

Cougforgood

1/15/21 10:49am

The fixed 30 year mortgage is one of the best financial tools out there. Keep

SFarkus

1/15/21 10:50am

Yep. When I refinanced late last year...

Eddie

1/15/21 2:46pm

The only reason not to do exactly that is extreme risk aversion.

1/15/21 3:56pm

Yeah but he's a hero and you post on CB.

Mister P

1/15/21 10:51am

You can be a hero and post on CB. Right JL31?

1/15/21 10:56am

Why are so many Mormons dentists?

Fargo

1/15/21 11:00am

$$$$$$$$$

1/15/21 11:50am

They’re all chasing this guy

1/15/21 4:17pm

Unless the economy crashes

Repete397

1/16/21 9:45am

Military dentists make ~130-150k when in payback and accounting for tax

valleus

1/16/21 10:46am

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