I "made it" this past year and have learned to use debt as a tool to grow wealth responsibly, but it can certainly be a mental adjustment.
Example: bought two new cars. Used to pay cash; this time I took out max length loans at sub 4% APR while I am earning more than enough in UST to cover the monthly payments. Even boomers can open up some iBonds with the Treasury and get over 8%.
Another example is that I'm borrowing from my core holdings to buy more stocks (Vanguard funds and BRK-B). Doing this to avoid taxes, which slaughtered me last year.
The result thought is I have a decent amount of debt. With exception of the vehicles, however, it is being used to grow my wealth responsibly (I already did the "borrow from ETH to get into high risk ICOs" back in 2018 and failed).
Great article; looking forward to more ripping on Ramsey.
“Stablecoins to the rescue”
I "made it" this past year and have learned to use debt as a tool to grow wealth responsibly, but it can certainly be a mental adjustment.
Example: bought two new cars. Used to pay cash; this time I took out max length loans at sub 4% APR while I am earning more than enough in UST to cover the monthly payments. Even boomers can open up some iBonds with the Treasury and get over 8%.
Another example is that I'm borrowing from my core holdings to buy more stocks (Vanguard funds and BRK-B). Doing this to avoid taxes, which slaughtered me last year.
The result thought is I have a decent amount of debt. With exception of the vehicles, however, it is being used to grow my wealth responsibly (I already did the "borrow from ETH to get into high risk ICOs" back in 2018 and failed).
Great article; looking forward to more ripping on Ramsey.
Loving these posts man. What is a good stable farm in defi?