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Re: Debt is good!!!!
[Re: Boco]
#8167481
07/07/24 08:02 AM
07/07/24 08:02 AM
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Joined: Mar 2023
Posts: 2,186
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
Posts: 2,186
WI
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I’m not smart enough to be in debt to make money. I also lack the ambition. I have no desire to be rich, I just like being mediocre. I’ll be debt free soon enough and I’ll be happy. I have everything a man could want in this life, I don’t have to have status or exuberant amount of money to make me happy. I’m a simple man. I enjoy my job and my “second” job I’d do for free but get paid for.
I have buddy that has his irons in umpteen fires and is RICH, but always working and never has time to be happy. I prefer a more stress free life and lack of debt makes me that way. I’m just your average poor Southerner content with what I have. You got it figured out. Its fairly difficult to not make money so when it starts to build up too much I give it away to family. If it's so easy, teach them how, then you won't have to give them any?
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Re: Debt is good!!!!
[Re: Boco]
#8167497
07/07/24 08:17 AM
07/07/24 08:17 AM
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Joined: Feb 2015
Posts: 11,290
Iowa
trapdog1
trapper
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trapper
Joined: Feb 2015
Posts: 11,290
Iowa
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I’m not smart enough to be in debt to make money. I also lack the ambition. I have no desire to be rich, I just like being mediocre. I’ll be debt free soon enough and I’ll be happy. I have everything a man could want in this life, I don’t have to have status or exuberant amount of money to make me happy. I’m a simple man. I enjoy my job and my “second” job I’d do for free but get paid for.
I have buddy that has his irons in umpteen fires and is RICH, but always working and never has time to be happy. I prefer a more stress free life and lack of debt makes me that way. I’m just your average poor Southerner content with what I have. You got it figured out. Its fairly difficult to not make money so when it starts to build up too much I give it away to family. Family must think you're a real chump. Uncle Boco is giving away money again so he'll get invited to the family BBQ!
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167507
07/07/24 08:31 AM
07/07/24 08:31 AM
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Joined: Dec 2011
Posts: 11,000
MT
snowy
trapper
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trapper
Joined: Dec 2011
Posts: 11,000
MT
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Debt is Good but not for me. Always in debt, you gain NO equity in the purchase item. It always costs you more money but it is the way we live.
Give me a fish, I will eat for a day. Teach me to fish, I will eat for a lifetime
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Re: Debt is good!!!!
[Re: BernieB.]
#8167654
07/07/24 02:39 PM
07/07/24 02:39 PM
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Joined: Aug 2011
Posts: 46,421
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,421
james bay frontierOnt.
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The freedom and flexibility that comes with being debt-free trumps everything. Everything.
100%
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: Pafoxman]
#8167890
07/07/24 08:22 PM
07/07/24 08:22 PM
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Joined: Aug 2010
Posts: 11,075
Asheville, NC
charles
trapper
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trapper
Joined: Aug 2010
Posts: 11,075
Asheville, NC
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Hard to become wealthy without using other people's hands (labor) and other people's money (debt). Nearly impossible to legally achieve your goals all by yourself. You only have 24 hours in a day and you only have two hands.
Last edited by charles; 07/07/24 08:23 PM.
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Re: Debt is good!!!!
[Re: charles]
#8167928
07/07/24 08:51 PM
07/07/24 08:51 PM
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Joined: Feb 2020
Posts: 10,183
Indiana
Providence Farm
trapper
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trapper
Joined: Feb 2020
Posts: 10,183
Indiana
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Hard to become wealthy without using other people's hands (labor) and other people's money (debt). Nearly impossible to legally achieve your goals all by yourself. You only have 24 hours in a day and you only have two hands. Depends on what you think wealthy is. Many of millionaire have been made that make 60k a year or less with countries spending and constant investing over time and are much better off on retirement than many people that made welcome over 6 figures But to me that's comfortably not truly wealthy. Truly being wealthy owning a profitable business along with every tax advantage and investment would be more likely path to get there.
Last edited by Providence Farm; 07/07/24 08:54 PM.
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Re: Debt is good!!!!
[Re: bblwi]
#8167945
07/07/24 09:17 PM
07/07/24 09:17 PM
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Joined: May 2016
Posts: 4,058
Southern Illinois
Foxpaw
trapper
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trapper
Joined: May 2016
Posts: 4,058
Southern Illinois
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I worked with a lot of businesses where we used what we called managed debt to save on income tax etc. We set up operating loans and even capital operating loans to have access to funds quickly and take advantage of better prices and year end income management. Many places offered up to 10% off on purchasing input items ahead of time. Capital items that make a business more efficient, profitable and also a nice tax saving make a lot of sense. Now these were not huge loans or amounts but if one can use money at say then at 6% to lower income say say 20K with a 30% tax bracket the savings are big.
Bryce Investment credit was a candy bait that was hard to turn down. It was a way to stimulate the economy and put people to work. It was also easy to reason why one should buy machinery he had no need for just to be taking it off the bottom line of his taxes. At times paying taxes is not a bad thing.
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Re: Debt is good!!!!
[Re: spjones]
#8167952
07/07/24 09:22 PM
07/07/24 09:22 PM
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Joined: Mar 2023
Posts: 2,186
WI
WI Outdoors
trapper
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trapper
Joined: Mar 2023
Posts: 2,186
WI
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Debt/credit grease the wheels of the financial world
Without it,,,,not much would happen That's been proven false.
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Re: Debt is good!!!!
[Re: WI Outdoors]
#8167954
07/07/24 09:23 PM
07/07/24 09:23 PM
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Joined: Aug 2011
Posts: 46,421
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 46,421
james bay frontierOnt.
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Debt/credit grease the wheels of the financial world
Without it,,,,not much would happen That's been proven false. More like throwing sand in the bearings.
Forget that fear of gravity-get a little savagery in your life.
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Re: Debt is good!!!!
[Re: charles]
#8167981
07/07/24 09:57 PM
07/07/24 09:57 PM
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Joined: Nov 2012
Posts: 1,331
midland, michigan
midlander
trapper
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trapper
Joined: Nov 2012
Posts: 1,331
midland, michigan
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Hard to become wealthy without using other people's hands (labor) and other people's money (debt). Nearly impossible to legally achieve your goals all by yourself. You only have 24 hours in a day and you only have two hands. Poppycock
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Re: Debt is good!!!!
[Re: charles]
#8167984
07/07/24 10:00 PM
07/07/24 10:00 PM
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Joined: Jan 2007
Posts: 5,342
Northern Minnesota
BernieB.
trapper
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trapper
Joined: Jan 2007
Posts: 5,342
Northern Minnesota
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Hard to become wealthy without using other people's hands (labor) and other people's money (debt). Nearly impossible to legally achieve your goals all by yourself. You only have 24 hours in a day and you only have two hands. you should read the book "The Millionaire Next Door." There is a huge difference between using labor and using other people's money. Not even the same universe.
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