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On Tue, 21 Nov 2017 20:12:51 -0500, wrote:

On Tue, 21 Nov 2017 18:38:19 -0500,
wrote:

On Tue, 21 Nov 2017 16:02:40 -0500, wrote:

On Tue, 21 Nov 2017 11:58:26 -0500,
wrote:

On Tue, 21 Nov 2017 11:17:22 -0500, wrote:

Normal people should not be going into retirement with debt unless
they have the liquid assets to pay that debt off ... and that is rare.

Personally I like the idea that I can cut back on the luxuries I pay
cash for and live very cheap if I need to because I don't owe anyone
any money.

===

Everyone's situation is different. I have no problem carrying debt
forever as long as I can earn a higher return somewhere else.
Additionally, the government subsidizes home mortgages via the tax
deduction on interest paid.

Let me get this right. You say it is a good deal to pay a bank
interest so you can deduct 20% of it and rationalize it because you
have an investment that you are paying a 20% tax on.
At best it is a wash, assuming you actually make more on your money
than the bank.
Whatever makes you feel better I suppose. I like the idea that if the
**** hits the fan (investments collapse, pensions fail etc) I don't
owe anyone any money.
Owing money may be good if you don't plan on living much longer or if
you think we will have hyper inflation. I just do not want to be
rooting for either of those things.

===

Like I said, everyone's situation is different. We will end up with
higher inflation at some point, the only question is when and how
much.

I suppose it all depends on your philosophy. I bought my last new car
in 1970 (a Jeep) and because I traded a paid off Corvette I was able
to pay that off in about 16 months. I kept making the payments to
myself with the objective of being able to pay cash for my next car
but I got the Gremlin for free and I drove that for a while, then a
used van that I put 100k miles on. By then my banked "car payments"
were enough to buy the condo that was rented and I was rolling. I paid
off the condo in 12 years and that was my last debt.
I will say a free "seminar" (AKA sales call from a broker) got me on
the way to prosperity at just about the time when I was thinking about
getting something new to replace my Jeep. He convinced me there were
better ways to invest my "car" money than a car. I never bought a new
one after that. I don't think people realize how much that saves you,
compounded over 40 years or more.
I screw up a new car so fast it is a waste of money anyway. You saw
what I drive (the green one and the mostly red one). They are both
just a piece of metal that you can ride in to me.

===

Didn't you have an opportunity to buy IBM stock at a 10% discount or
something like that? I've known IBMers who ended up with quite a nest
egg that way.

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