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Jan 15, 2021
10:59
:17
am
Archaea
Truly Addicted User
One will rarely be uber wealthy, but one will also rarely be forced to scramble
to pay bills.
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Archaea
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Archaea
Joined
Mar 28, 2001
Last login
May 13, 2024
Total posts
94,266 (3,110 FO)
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Messages
Author
Time
Paying off debt quickly can be overrated. For example, my buddy and I graduated
Windward_Coug
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.
cougarmeister
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.
All-American
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.
All-American
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.
All-American
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?
All-American
1/15/21 10:56am
Why are so many Mormons dentists?
Fargo
1/15/21 11:00am
$$$$$$$$$
Turnpike Lane
1/15/21 11:50am
They’re all chasing this guy
Mr. Rumsfield
1/15/21 4:17pm
You can afford to have a bunch of kids and your wife can stay home
Jericho
1/15/21 4:48pm
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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