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  1. #21
    Senior Member Azure Nomad's Avatar
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    Re: High Credit Score? Don't take the bate!

    Debt is worthwhile if you can leverage it to come out ahead. But a lot of people have found themselves in a hole by leveraging too much debt.

    Personally I think of debt as the nuclear option to escape the rat race at a time table sooner than I have planned. But I prefer to leave the rat race on my terms and on my time table with no strings attached.

  2. #22
    Member happybachelor's Avatar
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    Re: High Credit Score? Don't take the bate!

    That's interesting. Do you mean taking out a load of debt then disappearing, going off grid? The thought has crossed my mind. Be a great exercise in escape and evasion, that.

  3. #23
    Super Moderator Mr Wombat's Avatar
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    Re: High Credit Score? Don't take the bate!

    Quote Originally Posted by mgtower View Post
    If he had half a brain he'd report the card stolen or compromised, then do it again as soon as a new card is issued.
    Get a separate mail drop (eg: PO box), get your mail sent there.

  4. #24
    Senior Member Azure Nomad's Avatar
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    Re: High Credit Score? Don't take the bate!

    Quote Originally Posted by happybachelor View Post
    That's interesting. Do you mean taking out a load of debt then disappearing, going off grid? The thought has crossed my mind. Be a great exercise in escape and evasion, that.
    Both are possibilities. Early retirement is easier by being debt free and building enough in your investment portfolio where money works for you. But if SHTF then yes taking on debt to be leveraged in other ways should be an option.

    Because lets face it...the countries of the world are moving to zero to negative interest rates which doesn't favor us little peons by no means. What is a safe withdrawal rate from your investments in a world like this? Sure in lean years you cut back but if zero and negative interest rates are the new norm you must investigate new strategies.

    I would further clarify that debt is a big problem when you are very young as it limits what you can do but the flipside is you have time to pay it off and leverage that debt. A house with a mortgage is a good example of leveraging debt. If the interest rate of the home plus upkeep (eg 10% of the value of the house per year) is lower than your rate of return in investments you can come out ahead or squeeze on by. In theory you can put more in your investments and eventually also have a home paid off when you retire which in theory is win/win.

    However, home ownership requires you do a lot of the work yourself and a house requires constant repair which is ideal when you are young. I am no longer a very young man, but I am still young enough where I am several decades way from retirements still and I can do basic repairs.

    The limitation is upward economic mobility of better jobs. In all that process of leveraging debt it is easier to just increase your salary/pay than going through those hoops.

    So sometimes it favors to hunker down and invest with favorable rates or sometimes be fluid and move toward better paying jobs while completely avoiding debt traps.

    My thinking is that I will have a solid base for my retirement funds but yes leveraging debt in a emergency when I reach or I am near retirement to go "dark" has crossed my mind many times. Integrity is important to me, but the flipside is I know that .gov and gynocracy don't show much mercy to men whether young or old. Especially true as the world becomes far more cruel to older men.


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