The entire key to this thread is about how to better manage your money. Save. Invest. Earn a return on your investments thru the good markets AND the bad.
There is little point in accepting that everyone must be so stupid that they can't make good decisions --- or that with some help in understanding their options... that they can't think through what is a better more reasonable way of doing things.
To me it's like telling someone that they shouldn't buy anything -- and should ONLY concern themselves with saving money for retirement. Pure BS!
How does a guy buy rental property?? The smart money puts down enough to make the payment be low enough that the rental income covers most if not all of it. You do that by taking on debt. It's leverage. The difference is that you hope the value of the property goes UP over time... and, of course, someone else is making your mortgage payment for you.
This thread is about how to THINK... it's never been about WHAT YOU SHOULD DO. Like our cars -- you take a little info from a variety of sources and do with it what you will. To say one is wrong and one is right is just crazy. But the INFO is what you should be gathering and thinking about. Some guys can only live by being debt free... okay... I'm good with that. Some people can manage debt and use it to make themselves even more money. Some people will just plain fail at all of it. The key is to be able to think your way through all the scenarios and take a little from here and a little from there and make a plan that fits YOU, whatever that is.
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