Originally Posted by
Std Deviation
So you’re borrowing money on things that depreciate in value (cars) and using the borrowed money to engage in speculation on other financial products/items/instruments? I prefer paying cash for cars, having no debt, and using all my income for investments. There’s no such thing as easy money. Momma said there’s a place you can go if your need money....it’s calld WORK...
Four pieces of advice to never take from pilots : financial, fitness, culinary, and relationship.
Lots of guys are self reportedly “killing it” with financial schemes but seem to have negative net worth. It’s just like getting ripped in the gym: stick to the basics and lift heavy and you’ll do great.
Let me correct you:
I am leveraging an asset to obtain financing (OPM) at an interest rate that could be the cheapest in the history of financing in order to obtain my long term goals. What does the fact that cars depreciate have anything to do with this? As far as my momma, she used to tell me to make my money do the work. So far I'm doing fine. I grew up in a family of accountants. I happen to graduate from one of the best Accounting schools in the nation and was a CFO at one time.
I wouldn't call this "killing it", but I do have a net worth in excess of seven figures.