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Old 02-24-2021, 04:57 PM
raab raab is offline
 
Join Date: Oct 2009
Posts: 4,518
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Quote:
Originally Posted by 350 mag View Post
Buying 70,80,90,k trucks or SUVs

Is NOT living within your means.

The Rich put their money to work.

They buy assets that appreciate in value, borrow AGAINST those assets. Now you have a loan and IF you borrow to invest the interest is tax deductible.

Too many out there want every toy in the book....so they look rich but their bank accounts are empty.

Then when they hit retirement age they are screwed.

Their standard of living drops to that of someone living on the poverty line.

STOP buying liabilities that depreciate in value....
This is good advice right here. Buy things that make you money. With regards to the market if you're invested in a company that's not paying a dividend it's not an investment. Its speculation that the stock will grow over time. I may not see the huge returns of some on here but I get my 5-6% every year no matter what the market does. The bonus is dividend stocks are usually valued higher, and therefore have more demand. As a result the stock usually holds its value as long as they can pay the dividend.
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