70% of MB Owners Upside Down On Car Loan?
Out Of Control!!
Joined: Dec 2001
Posts: 12,161
Likes: 1
From: Obama Land
K Car
Re: 70% upside down
Originally posted by tntmcj
well i never said i earn 3-4 % on my money you are the one who used that example, and no matter how hard you try to convince me or anyone else who has the money to pay cash that financing is better you are completely wrong, assets not liabilities is the key to wealth, you can say all you want about brokers investing in stocks whatever, cash is king, keep telling yourself to use other peoples money to make money, once you factor in all tax liabilities, fees, and whatever else the bottom line is you can never, never make as much money on investments or assets that you finance as you could if you paid cash, the only thing i invest in now is dirt, thats right dirt because god cannot make more dirt, i have doubled and tripled my money on homes bought and held for 2-3 years all that time while renters are paying me rent to live there, say what you want i will gladly compare net income earned statements, on any investments i have. you seem like a horse with blinders only looking straight. i see you are from texas, investments like enron probably made you alot of money? it is people who think like you who make people like me very wealthy keep up the good work i appreciate all your money
well i never said i earn 3-4 % on my money you are the one who used that example, and no matter how hard you try to convince me or anyone else who has the money to pay cash that financing is better you are completely wrong, assets not liabilities is the key to wealth, you can say all you want about brokers investing in stocks whatever, cash is king, keep telling yourself to use other peoples money to make money, once you factor in all tax liabilities, fees, and whatever else the bottom line is you can never, never make as much money on investments or assets that you finance as you could if you paid cash, the only thing i invest in now is dirt, thats right dirt because god cannot make more dirt, i have doubled and tripled my money on homes bought and held for 2-3 years all that time while renters are paying me rent to live there, say what you want i will gladly compare net income earned statements, on any investments i have. you seem like a horse with blinders only looking straight. i see you are from texas, investments like enron probably made you alot of money? it is people who think like you who make people like me very wealthy keep up the good work i appreciate all your money
Without getting into personal details, I have done all right for myself as well. My tax burden is under control, and dollar for dollar, I make more money in gains (after taxes) then I pay in interest on all my properties and vehicles combined. I have a pretty good investment record which is diversified (in my opinion) nicely.
If investing in "dirt" as you say works for you, then that's fine. I am not a financial adviser, and I am not trying to tell you what to do with your money. I am only saying that many people out there who are in the very top tier of wealth, still make decisions that will generate the best return for them. The original comment about 70% of these people not caring about "a few hundred dollars" is very inaccurate.
btw - In my examples, I'm talking about making a certain percent difference than the interest rate on your loan (ie: If you have a 2% car loan, and you are getting a 5% return on your investment, that's a 3% difference).
Since you do not know me, I don't think it's a good idea to start making assumptions about me.
Out Of Control!!
Joined: Dec 2001
Posts: 12,161
Likes: 1
From: Obama Land
K Car
Originally posted by MBAMGPWR
Whoa guys! It's Friday, let's chill out.
Can we just talk about the hottie I saw that day trying to buy that SLK? I mean, she was so money!
Whoa guys! It's Friday, let's chill out.
Can we just talk about the hottie I saw that day trying to buy that SLK? I mean, she was so money!
Just stating a point of view based on my own experience. I respect the view of tntmcj and others, even if I don't agree with them.It's Father's Day weekend (well, almost), and I'm looking forward to relaxing and playing some golf.
Cheers....
Member
Joined: May 2004
Posts: 172
Likes: 0
From: chicago
only amg
70% upside down
hardly an arguement just a very good discussion about money, no harm intended, as a matter of fact i think that if this would have been in person it would have been a great discussion about money and what people do with it. this is a forum for people to state their views, i think we did just that, no bad words exchanged, no insults slung, just good old points of view, i commend you revstriker i thought you conducted yourself like a real man, and i hope i did not offend you in any way, that was not my intention.
Out Of Control!!
Joined: Dec 2001
Posts: 12,161
Likes: 1
From: Obama Land
K Car
Re: 70% upside down
Originally posted by tntmcj
hardly an arguement just a very good discussion about money, no harm intended, as a matter of fact i think that if this would have been in person it would have been a great discussion about money and what people do with it. this is a forum for people to state their views, i think we did just that, no bad words exchanged, no insults slung, just good old points of view, i commend you revstriker i thought you conducted yourself like a real man, and i hope i did not offend you in any way, that was not my intention.
hardly an arguement just a very good discussion about money, no harm intended, as a matter of fact i think that if this would have been in person it would have been a great discussion about money and what people do with it. this is a forum for people to state their views, i think we did just that, no bad words exchanged, no insults slung, just good old points of view, i commend you revstriker i thought you conducted yourself like a real man, and i hope i did not offend you in any way, that was not my intention.
Nah, I'm not offended. I always find it interesting when people assume I'm from Texas because that is my current location. I'm actually from Boston. I get a laugh when someone disagrees with me and then says something like "you're just a redneck from Texas".
Yup, that's what I am alright! I'm sure it would have been an interesting conversation in person. It's hard sometimes to explain a point in a forum like this, especially something as complicated as finance and investing.
Member
Joined: May 2004
Posts: 172
Likes: 0
From: chicago
only amg
70% upside down
revstriker, you know what is amazing , i have learned never to judge a book by it`s cover, i am a jeans and t-shirt, or torn sweatpants person, as are alot of my friends. and let me tell you it is who i really am just a simple person, and by the way i would much rather be called a redneck than an f.i.p ****** illinois person, next time i go to texas, addison,dallas,or sugarland i may look you up.
