Quote:
Originally Posted by Starkler
Personal debt is toxic to wealth and should only ever be taken as leverage on productive assets. If you have to a take a loan (and dont already have the savings) it probably means you cant afford it.
|
Just a bit more interjection on my part..
Personal debt is toxic to wealth, but wealth does not mean happiness. Who wants to be wealthy, but unhappy.. Yes, it would be great to live in an ideal world where nobody is in debt.. That would be great. That said, how many of us would have a 12.5" RC or a 180mm APO on an AP1200 GTO with a big fancy CCD camera on it if we could... When you're talking about getting a 300~350k (minimum these days really) home loan, whats an extra $50k on top going to hurt? It might cost you an extra $100 a month, and if being very happy is not worth $100 a month to you then I feel utterly depressed for you.. If hoarding wealth is your goal in life, it must be a sad existence. You can not take your money with you when you die, you SHOULD not let your children inherit large amounts of wealth from you as if you do they will not learn the value of a dollar and grow up expecting that everything should be made easy for them.. All you have in this life in a brief period of time with which you can choose what to do. You could choose to save all your money for a rainy day and not have and experience the things you want, or you could just say to yourself well, debt, its here today, it'll be here tomorrow, and if all you get for it is a roof over your head, well that will do, but if you can afford a little extra a month, why wouldnt you get a roof over your head, and a sliding roof over your shiny new telescope/mount/camera...
I vote happiness over money. Money isn't important, Its not even real in a sense, we're just made to believe that it is.