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It's tough being filthy rich...
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First recorded activity by BoatBanter: Jun 2013
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It's tough being filthy rich...
On Mon, 20 Nov 2017 22:15:21 -0500,
wrote:
On Mon, 20 Nov 2017 19:12:12 -0500, Alex wrote:
Too many people spend every dime they make, don't take advantage of
401K's, and wonder how they are going to retire on SS alone.
I also wonder how anyone over 50 or so with a mortgage and car
payments ever expects to retire. I paid cash for my house here in 84
and I paid off my mortgage on the condo in 1990. I haven't had a car
payment since the Nixon administration. In spite of all of that I
sound like a pauper when I hear how much money you guys make.
===
Smart borrowing, i.e., borrowing to buy an appreciating asset is good
business when you can earn a higher return than your after tax
interest cost. Even if you can afford to pay cash, borrowing makes
sense if you can invest your cash at a higher return.
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