Inflation! $$

[dcjredline]

Thanks for the visual, gave me a real laugh. Can just see all these over exposed butts appearing as the water recedes.

I've been debt free since 2018, so I know exactly what you mean.

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When I first heard that I was DEEP in debt. $56k on JUNK. In 2011 I got out of that debt (2 years) and have been free besides my mortgage since then. Life has never been better, I make less than $70k a year and save $625 a month for retirement, help daughter pay her way through college debt free, have a $20k emergency fund and money saved for car and home repairs / replacement. Debt just holds you down. I think we are on the same page. There is no good or bad debt. Debt is DUMB and it SUCKS!!! FREEDOM is the way to go. EDIT: My house is down under $40k and worth over $140k lol. Until its paid off I will still be a slave to the lender.

[dcjredline]

That chart was drawn up by a fukin crackhead...WHOA!

Bah ha ha ha!!! SO true. Hilarious. FICO lovers will tell you there is good and bad debt but there really isnt.

[dcjredline]

I have read that since the federal reserve was instituted in 1913 inflation is currently at 2000%. Not sure how that figure was calculated. But here's a couple examples. If the fed target inflation rate is 2% that means that every 25 years the dollar has lost 50% of it's purchase power. Just in the last 3 years, I know of items that have gone up 50-100%. Oh and the price of items are increasing while the size decreases. Fiat money only has value because people believe the government can back it up. Once faith in the government is lost, wait for the crap to hit the fan.

If you are right then why havent you moved yet? lol. Why wait till it collapses?

[dcjredline]

On the other end of the spectrum, one can reach the golden age without ever experiencing many things in life that are not available "without" credit..

Ive been on both sides and feel like I can have more things now being debt free and not using credit. What kinds of things cant you have without credit? Also when you have things without a payment you dont feel like they have YOU cause you owe your payment every month.

[Flash Gordon]

I do wonder sometimes if being frugal all the time is a wise move. One day someone will inherit what I have and probably squander it.
Yall don't be shocked if I show up one day in a GT3 (on credit lol)

[Bosko]

What kinds of things cant you have without credit?

Business adventures mainly for me (large capital investments)....although my business of 36 years did well and I retired very early debt free......

[dcjredline]

I do wonder sometimes if being frugal all the time is a wise move. One day someone will inherit what I have and probably squander it.
Yall don't be shocked if I show up one day in a GT3 (on credit lol)

Being debt free doesnt have to mean frugal. I buy much more than I used to while in debt cause I now have access to my whole paycheck. Plus save on top of that. I dont feel deprived at all. I buy something that was budgeted and have 0 guilt about it the next month cause there is no bill coming in on it.

[dcjredline]

Business adventures mainly for me (large capital investments)....although my business of 36 years did well and I retired very early debt free......

You can still start a business debt free and grow it organically. Its not a need.

[Bosko]

You can still start a business debt free and grow it organically. Its not a need.

Can I ask what you do for a living and your age?

[dcjredline]

Can I ask what you do for a living and your age?

Im an industrial mechanic and 50. Why?