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Dodge County, WI | This guy is going to be a taker. Most of his debt is tied up in things that are losing value, or have no liquid value at all, like college education. You can't sell education. His toys are dropping value like a rock. All he has is a house. Big whoop.
I say he has too much debt in a lot of ways, ($1300 mortgage on a 60k income is a decision I wouldn't make) but his ripple effect of spending and the taxes the government got along the way and the jobs he helped support on his spending... will be difficult to really put a finger on whether he was a good enough "giver" to the system along the way and whether his "taking" later on in life will offset his giving.
The person who saves for himself may be "bad" for the government and the economy during their productive years, but will be self sufficient later on in life.
The quote from the guy who wants to do something and just does it, is an idiot. I'm 35, and not to sound like a smart ass, but it I was this guy, and I was 50, and looking ahead to at most 20 years of productive life ahead of me, I would look back at the last 30 years (my best years, mind you) and think, " this is all I have? I am screwed. How in the world am I going to get enough cash saved up to support myself in my retirement?" This guy was out of time 10 years ago, if not more.
Ben | |
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