Cash or Debt

Reply Subscribe

Thread Tools

01-11-2009 | 01:13 PM

#61

OldSchool

VIP Member

Joined: Dec 2001

Posts: 10,397

Likes: 402

From: Cape Coral, Florida

Quote:

Originally Posted by omerta one

That's a reasonable strategy in a decent market...but saving 6% is like a guaranteed, tax free return. The S&P was down 38% last year. Right now I'm glad I paid cash for mine; if not I would have lost 38% in the market and the depreciation on top of it. The way I look at it I'm now 44% ahead by paying cash.

Paying cash also keeps you from living beyond your means. Like the good old days...save up then buy it.

Payments on toys are a no no for me. Mortgage and utilities payments are the only thing worth paying for monthly.......I've got a 20 year old boat....but it's paid for!!!!

__________________
Happily retired and living in Heavens waiting room.

01-11-2009 | 03:10 PM

#62

scottw

Platinum Member

Joined: Apr 2006

Posts: 614

Likes: 0

From: Wenonah, NJ

Quote:

Originally Posted by Jeff P31

This is why the repo yards are full !

No, repo yards are full cause of the banks gave money to people who couldn't afford it, or people fell on hard times.

01-11-2009 | 09:40 PM

#63

GARBAGEMAN

Registered

Joined: Jul 2006

Posts: 979

Likes: 0

From: Long Island

Quote:

Originally Posted by OldSchool

Payments on toys are a no no for me. Mortgage and utilities payments are the only thing worth paying for monthly.......I've got a 20 year old boat....but it's paid for!!!!

And I must say not too many 20 yr old boats as nice as yours Craig