Quote:
Originally Posted by garysanfran
Using debt to leverage one's life style is where I disagree with Ramsey. If I had to save to pay cash for the properties I own, I would not own the properties I own. The key is to have the cash flow to support your debt.
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Exactly. Stay within your means and leverage the tools available.
What ever you do, don’t leave all your money in cash or you’ll find yourself way behind.
I’ve done many mortgages over the years but they were all paid off by around age 50.
I certainly respect anyone staying within their means through a “cash” life style.
I have no problem with a credit card. But we always limited ourselves to ONE credit card.
I also don’t believe in taking out larger mortgages so you can invest more. I think a balance is best. Most of our mortgages were low number of years and we avoided 30 year ones (if we could).
BTW watch out for inflation. Inflation is your friend if you have high debt.