Quote:
Originally Posted by subtona
is Debt only bad in the scenario ?
If my mortgage is so high that it is a struggle each month, I would not be comfortable
If my mortgage is low enough to be easily paid for (1week salary or less for example) then I wouldn’t consider it a negative) principal would be being paid While equity was being earned and capital remains liquid… this strategy could set you up for option one down the road
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Very good point. Problem is, many started with something easily payable but ended up with twice the installment and half the salary down the road. That's what happened here. I still think I wouldn't be that unfortunate but can't help but think of the emotional burden of an impending financial disaster...
Quote:
Originally Posted by brandrea
Good for you Basil.
It’s different for everyone for sure. Age / stage, and risk tolerance are the biggest determining factors IMO.
There’s no right or wrong answer, but I’ve met more people who are happier following the first formula later on down the line.  |
Perhaps that's why I won't be able to achieve anything remarkable. Not everyone is willing or able to take risks and make things work in their favor. Horses for courses, I guess. But I'm okay with that.