[Bay Kid]

Originally Posted by retiredguy123

In my opinion, interest rates, including CDs, will remain very low for a long period of time. The goal is to stimulate the economy and encourage borrowing, at the expense of people who are frugal and just want to preserve their savings. But, I have still done extremely well by being frugal and avoiding all debt, including mortgage debt. To me, the worst advice you can give to a young person is that they need to "establish credit". My advice is to pay cash for everything and never go into debt.

Cash is king. My son needed to establish credit. He got a credit card, then paid in full every month without paying any interest. Any debt is bad. Just my opinion.