My Father's Day So Far

Off Topic
101

[quote]CaliforniaLaw wrote:
texasguy wrote:
oh no! puuleeeaassssseeee! respect me! i don’t think i can carry on!

and i still smell jelousy. i’ve been smelling it pretty much all my life.

I’m actually in the minority of people who think you are spot-on regarding certain observations. I even agree that being as of afraid of debt as the OP is, is about as freaking unsophisticated as it gets - especially when it means working hard enough to earn 139K while living like a pauper. Being afraid of debt is like being afraid of the rain.

That being said, just because someone calls you an ass doesn’t mean they are jealous. That sounds more like a self-protection mechanism. Instead of reflecting on what is directed your way, you brush it off as “That’s just what a jealous person would say.”

It’s a shame you brush people off like that, as you seem like a smart person with some good insights. [/quote]

How is living debt-free unsopisticated?

I need a credit card to be evolved? I need to saddle myself and my family with hundreds of thousands of dollars debt to be sophisticated?

Tell me how driving a new car with a $600 monthly payment makes you higher brow than me.

Debt=sophistication? You are out of your idiotic mind. Or maybe you think all the bankruptcies clogging our courts are a sign of enlightenment?

We are not living like paupers, thank you. We are living debt free. There is a difference. The biggest one being a little thing called patience. I find it quite humorous that you are so confused by patience that you have to call it unsophisticated.

To quote Dave Ramsey, “Live like no one else so that later, you can live like no one else.”

Please. Tell me how debt makes one more sophisticated. If you are the poster boy for sophisticated living via debt, surely you can pass on a little knowledge.

I would just like to know: when did leveraging your future just to have crap now become sophisticated?

102

[quote]rainjack wrote:
CaliforniaLaw wrote:
texasguy wrote:
oh no! puuleeeaassssseeee! respect me! i don’t think i can carry on!

and i still smell jelousy. i’ve been smelling it pretty much all my life.

I’m actually in the minority of people who think you are spot-on regarding certain observations. I even agree that being as of afraid of debt as the OP is, is about as freaking unsophisticated as it gets - especially when it means working hard enough to earn 139K while living like a pauper. Being afraid of debt is like being afraid of the rain.

That being said, just because someone calls you an ass doesn’t mean they are jealous. That sounds more like a self-protection mechanism. Instead of reflecting on what is directed your way, you brush it off as “That’s just what a jealous person would say.”

It’s a shame you brush people off like that, as you seem like a smart person with some good insights.

How is living debt-free unsopisticated?

I need a credit card to be evolved? I need to saddle myself and my family with hundreds of thousands of dollars debt to be sophisticated?

Tell me how driving a new car with a $600 monthly payment makes you higher brow than me.

Debt=sophistication? You are out of your idiotic mind. Or maybe you think all the bankruptcies clogging our courts are a sign of enlightenment?

We are not living like paupers, thank you. We are living debt free. There is a difference. The biggest one being a little thing called patience. I find it quite humorous that you are so confused by patience that you have to call it unsophisticated.

To quote Dave Ramsey, “Live like no one else so that later, you can live like no one else.”

Please. Tell me how debt makes one more sophisticated. If you are the poster boy for sophisticated living via debt, surely you can pass on a little knowledge.

I would just like to know: when did leveraging your future just to have crap now become sophisticated? [/quote]

I live in an appartment that is worth around 120000 EUR.

This thing was rented out at around 800EUR a month meaning 9600 a year.

I bought it and pay 3% interest mean, 3600 a year, the rest I could use to pay it back, it is just that I make more than 3% on my money so why should I?

I even get to deduct some of the interest I pay from my taxes.

Given the fact that the average inflation rate is around 1,5%, real value of my property goes up around 2% each year and I have 6000 EUR to invest more each year how would NOT mortgage and buy this appartment have been a good idea?

In fact I made a little more because the swiss franc (the currency I owe the money in) dropped against the EUR and if my government should ever try to inflate its way out of its misery I`ll get this appartment practically for free.

So, why I respect that you do with your money whatever the fuck you want, NO DEBT is hardly the end all and be all of economic advice and downright insane if you own a company that produces or trades.

103

Debt is about convenience, no? Why else would one go into debt were it not for the convenience? ie you dont have the cash now for what you want now, so…

Apparently, US society is in hock. Average national savings is a negative number (though I read that is brought down largely by debt accumulated by higher income families). Recent bankruptcy laws guarantee ROI for lenders. The recent housing bubble is an excellent example about how the “merits” of debt were peddled to make investors quick bux.

I see the opposite of claw. If you are willing to forego short-term gratification and are able to make significant money in the short-term, why go into debt at all?

104

[quote]Scotacus wrote:
I see the opposite of claw. If you are willing to forego short-term gratification and are able to make significant money in the short-term, why go into debt at all?[/quote]

Because it is low-brow fear mongering.

Cali makes the dipshit assumption that I am afraid of debt. Nothing could be further from the truth. I hate debt. I love freedom.

Debt=slavery.

Don’t believe me? You guys that go and get a mortgage and a car payment and 20K in unsecured credit card debt are not working for yourself. You are working to pay back the banker.

I choose to be my own banker and pay myself. I would call it patient greed way before I would call it fear.

If I save enough to pay cash for a custom built 250K house over 3 years, and I put that money in an investment vehicle during that time - I can get an 8% discount on the cost of the home. SO my 250K house winds up being only around 230K.

Tell me how in in hell that is being afraid, or unrefined, or whatever ignorant description Cali gave it.

But to each his own. I write about 3 checks a month, and pay for everything else with cash. I have 3 months of living expenses sacked away in a money market fund. I have over 10K in 90 day CD’s to cover my health insurance deductible. I have my children’s college education expenses already in a mutual fund.

I’ll take where I am at over owing a mortgage company, GMAC, and Capital One anyday.

By the time I am 50 I will be a millionaire. Not to the degree that shithead’s grand dad is, but I’m not complaining.

105

Debt sucks. I hate being in debt. RJ, I admire your dedication to living debt free.

Hopefully one day I will be able to do the same.

106

[quote]orion wrote:
So, why I respect that you do with your money whatever the fuck you want, NO DEBT is hardly the end all and be all of economic advice and downright insane if you own a company that produces or trades.
[/quote]

I am a partner in a company that is on tract to do almost $2 million this year.

While that is not a staggering number, you have to keep in mind that there are only 3 of us, with minimal labor costs outside of paying ourselves. Our profit margin is very, very large.

We have no debt. Don’t need any, and anyone that thinks they can make a blanket statement about business needs to re-evaluate his knowledge of business.

I own an accounting practice that makes a nice living for myself. I need no debt to do my job.

No debt is perfect for my personal life, and my business life.

No fear, no insanity - just cash.

107

[quote]rainjack wrote:
CaliforniaLaw wrote:
texasguy wrote:
oh no! puuleeeaassssseeee! respect me! i don’t think i can carry on!

and i still smell jelousy. i’ve been smelling it pretty much all my life.

I’m actually in the minority of people who think you are spot-on regarding certain observations. I even agree that being as of afraid of debt as the OP is, is about as freaking unsophisticated as it gets - especially when it means working hard enough to earn 139K while living like a pauper. Being afraid of debt is like being afraid of the rain.

That being said, just because someone calls you an ass doesn’t mean they are jealous. That sounds more like a self-protection mechanism. Instead of reflecting on what is directed your way, you brush it off as “That’s just what a jealous person would say.”

It’s a shame you brush people off like that, as you seem like a smart person with some good insights.

How is living debt-free unsopisticated?

I need a credit card to be evolved? I need to saddle myself and my family with hundreds of thousands of dollars debt to be sophisticated?

You are out of your idiotic mind. Or maybe you think all the bankruptcies clogging our courts are a sign of enlightenment?

[/quote]

Spoiled brats want it all NOW!! Not tomorrow, not in a year,…NOW!!

And that’s why college punks rip on you RJ; you’re not like them.

108

[quote]rainjack wrote:
No fear, no insanity - just cash.
[/quote]

And nobody refuses cash.

109

Why is everybody down on TexasGuy,???He has a lot in common with their beloved Georgie Boy,only he sounds more intelligent.

110

[quote]ron33 wrote:
Why is everybody down on TexasGuy,???He has a lot in common with their beloved Georgie Boy,only he sounds more intelligent.[/quote]

Did you actually jump into the middle of this thread just to make a hit at George Bush?

there is a politics forum on here you know.

111

[quote]ron33 wrote:
Why is everybody down on TexasGuy,???He has a lot in common with their beloved Georgie Boy,only he sounds more intelligent.[/quote]

Because 200lbs are 200lbs no matter what your Daddy makes in a year.

112

[quote]rainjack wrote:
orion wrote:
So, why I respect that you do with your money whatever the fuck you want, NO DEBT is hardly the end all and be all of economic advice and downright insane if you own a company that produces or trades.

I am a partner in a company that is on tract to do almost $2 million this year.

[/quote]

Good luck with your company!

May your riches exceed your wildest dreams!

113


Though I do think this is more fitting ;-)…

114

Remember, it’s not what his daddy makes it’s what his grand-daddy made. He’s old school Texas money. Blood that’s bluer that blue.

115

[quote]ron33 wrote:
Why is everybody down on TexasGuy,???[/quote]

You have a point. It’s kind of like laughing at the Special Olympics. If you read his hockey player thread he does come across as mentally challenged.

In the end though, he strikes me as someone whose mommy has been telling him how great he is for his whole life that he expects everyone to do the same. We aren’t that support group.

DB

116

[quote]kroby wrote:
rainjack wrote:
No fear, no insanity - just cash.

And nobody refuses cash.[/quote]

Ain’t that the truth.

All the best Rainjack for fathers day, is the hardest job in the world to do well.

Some shit you can’t buy with money, train hard, no prisoners.

118

[quote]rainjack wrote:
How is living debt-free unsopisticated?

I need a credit card to be evolved?

Tell me how driving a new car with a $600 monthly payment makes you higher brow than me.

Debt=sophistication? You are out of your idiotic mind. Or maybe you think all the bankruptcies clogging our courts are a sign of enlightenment? [/quote]

You equate all debt with “consumer debt.” You’re ignoring leverage. That’s really all I need to know about your level of sophistication when it comes to debt. Here are some slides covering the upside of debt:
http://web.mit.edu/11.431j/www/Fall91602/431_GMch131.ppt

It’s pretty clear you have your mind made up about debt. That’s fine. But that you only thought “consumer debt” when I mentioned debt, simply proved my point. Debt is so much broader.

As for my own debt: I don’t have any consumer debt. But I do have student loan debt. Going into debt has enabled me to make substantially more money than if I had not gone into debt. So going into debt has been a very wise move for me (especially when you factor in the interest rates for my loans - many of which are so low that paying anything above the interest of them, in light of average market returns, is an irrational economic move).

In your world, there wouldn’t be any doctors, since only a fool would go into debt, right? Going into debt to earn a professional degree, under your simplistic view of debt, would be stupid. Instead, a person should take years to save the 250K he or she would need for medical school. But how many years of extremely high income of being a doctor would that person give up in order to save that money? Would the opportunity cost associated with not earning “doctor money” be greater or less than the costs associated with servicing student loan debt?

Texasguy may have his issues, but he has a long way to go before he’s half the jack ass you are.

119

[quote]pushharder wrote:
dollarbill44 wrote:
ron33 wrote:
Why is everybody down on TexasGuy,???

You have a point. It’s kind of like laughing at the Special Olympics. If you read his hockey player thread he does come across as mentally challenged.

In the end though, he strikes me as someone whose mommy has been telling him how great he is for his whole life that he expects everyone to do the same. We aren’t that support group.

DB

[/quote]

You should have picked a picture with more flames.

120

[quote]CaliforniaLaw wrote:
rainjack wrote:
How is living debt-free unsopisticated?

I need a credit card to be evolved?

Tell me how driving a new car with a $600 monthly payment makes you higher brow than me.

Debt=sophistication? You are out of your idiotic mind. Or maybe you think all the bankruptcies clogging our courts are a sign of enlightenment?

You equate all debt with “consumer debt.” You’re ignoring leverage. That’s really all I need to know about your level of sophistication when it comes to debt. Here are some slides covering the upside of debt:
http://web.mit.edu/11.431j/www/Fall91602/431_GMch131.ppt

It’s pretty clear you have your mind made up about debt. That’s fine. But that you only thought “consumer debt” when I mentioned debt, simply proved my point. Debt is so much broader.

As for my own debt: I don’t have any consumer debt. But I do have student loan debt. Going into debt has enabled me to make substantially more money than if I had not gone into debt. So going into debt has been a very wise move for me (especially when you factor in the interest rates for my loans - many of which are so low that paying anything above the interest of them, in light of average market returns, is an irrational economic move).

In your world, there wouldn’t be any doctors, since only a fool would go into debt, right? Going into debt to earn a professional degree, under your simplistic view of debt, would be stupid. Instead, a person should take years to save the 250K he or she would need for medical school. But how many years of extremely high income of being a doctor would that person give up in order to save that money? Would the opportunity cost associated with not earning “doctor money” be greater or less than the costs associated with servicing student loan debt?

Texasguy may have his issues, but he has a long way to go before he’s half the jack ass you are.[/quote]

Some facts:

I have debt with student loans. I had no one else pay for my education (like a couple of my classmates) and getting “Dr.” in front your name is one hell of a major adventure into the world of life long debt (ar however long it takes to pay that shit off).

Texasguy is lame. Rainjack is a jackass. These two are not the same.

Living debt free and saving for what you want is a great idea. If you can live like that and be successful, then take joy in the fact that you can do what many can’t. It does not, however, make you any more superior than Texasguy is to the hard worker who didn’t grow up rich.

Many of the professionals in this world who are considered “successful” have debt from their educations. That is just a fact of life and having that debt does not make them poor planners. It makes them people who sacrificed extreme partying for some high level textbooks for several years and who will hopefully be making enough in the future to pay back those loans as well as live comfortably in the process.

That is all. Some of you seem to lose perspective.

If any of you need that Cliff-Noted for you, just ask.