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Re: Investment long term
[Re: Providence Farm]
#8178727
07/21/24 07:02 PM
07/21/24 07:02 PM
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Joined: Feb 2014
Posts: 13,809
Ky
jbyrd63
trapper
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trapper
Joined: Feb 2014
Posts: 13,809
Ky
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^^^ debt is not needed to make you money.
And not having any sure does allow great piece of mind and allows you to invest the debt payments without having to worry about things falling apart. You can make money using debt sure I am now on my low interest auto loan I'm making 5.15% and my interest rate on the loan is 2.6% so I would loose money paying it off. But I have the cash available to do just that. A lot of people have been successful using debt to make money BUT many many more have had something go south and end up bankrupt. You may make money with debt but you will always do well and secure being debt free. At the very least have the money available to pay off the debt so you don't end up with your back to the wall Unless that vehicle is a business deduction you are not making anything by paying any interest. Interested earn is calculated differently than a car payment. Trust me pay it off !!
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Re: Investment long term
[Re: midlander]
#8178796
07/21/24 08:44 PM
07/21/24 08:44 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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I took the quiz for giggles and dropped 40 points. I have no idea what my credit score is. Havent needed it in a long time. I wish I knew then what I know now as I would have done things a little different.
Its a shame when I hear people brag about credit scores, its the same as bragging that they 'are great at borrowing money and paying interest'. The financials have been masters at convincing people that they need to borrow money to build their credit score. I prefer the philosophy that Id rather save money, invest wisely, and avoid debt so that I never need to borrow money and pay interest again.
Poor people pay interest, wealthy people earn interest. Again, just a difference in philosophy...not condemning folks who like to pay interest. Exaclty
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Re: Investment long term
[Re: BvrRetriever]
#8178882
07/21/24 11:57 PM
07/21/24 11:57 PM
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Joined: Jan 2008
Posts: 9,497
Alaska and Washington State
waggler
trapper
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trapper
Joined: Jan 2008
Posts: 9,497
Alaska and Washington State
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Timberland with 15-20 year old reprod growing on it. Trees of that age are not ascribed a lot of future monetary value, yet they are growing additional value (volume) at an exponential rate. That growth is your real increase in value, and the upward creep in land value is your inflation hedge.
"My life is better than your vacation"
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