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Originally Posted by SkullWorks
There seem to be some bitter people in this thread who's financial future didn't pan out the way they expected.
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Yeah, we're all bitter because we're not millionaires by 30 as if that should be everyone's life goal.
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Every millionaire I know has always told me to stay out of debt, there is no such thing as a guaranteed return on anything. So only spending money you have will always keep you above water, and you will never be moving backwards, does this mean it is a little harder to get a leg up, yes sometimes it does, but I currently run a machine shop that has been in business for 60+ years, and the only reason it is still open and owned by the same family...no debt ever, pay cash or do without.
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No debt ever?
So the company doesn't do any invoicing, use credit, have aged payables, or use any kind of credit at all? Everything is pre-paid? Highly unlikely.
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Don't let people over 30 who aren't millionaires tell you how to become rich, just don't.
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Pretty sure no one here is telling anyone how to become rich. If $1500 in interest over 5 years will make or break someone, that person couldn't afford the car to begin with.
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Keep up the good work, you sound like you are on the right track.
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If the path to wealth was just being debt-free, there'd be a lot more wealthy people out there. Look, I get it. No one wants to have to pay someone to borrow money, but that's the system we have until a better one comes along. Either way, we're talking about interest on a $25k car loan and not a $400k mortgage or business loan. Take it down a notch, hot shot.