Quote:
Originally Posted by Chatbrat
Considering the average age of people who live in TV and those moving here--don't worry about saving money, worry about living long enough to enjoy what you have
and if you're smart enough you can make more money in retirement than you can have made while you were working
My mentor told me do not worry about saving money , worry about making money
Take the $$ you would put into insulation & invest it smartly you will be way ahead of the game
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Great advice.
Analogous to that is a bunch of people I know who shake their head that I chose to carry a small mortgage on my house, instead of just paying for it with all cash.
Even when I show them on a napkin that the money that would be used to pay off the mortgage is making much more being invested, they still don't get it.
One of these braniacs recently had to go back to working part time to make ends meet, after paying cash for a $500K house.
He then got mad at me when I quickly showed him what a 30 year mortgage would be on $100K and with the magic of compounded interest, what he would have in his savings account right now had he put the $100K to work 10 years ago.
He
really got mad when I showed him what the DJIA has done in the last 8 years....LOL
