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Speaking of bad debt
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270
Posted 2/7/2021 21:55 (#8815297 - in reply to #8813848)
Subject: RE: Speaking of bad debt


NE Nebraska
dogg4585 - 2/7/2021 13:47

Coups post on consumer debt reminded me of a Facebook friend promoting student loan forgiveness. She has maybe 300k debt and paying 6pct interest to be an optometrist who probably makes 90k salary. Talk about terrible decisions. Somebody commented to her that a master plumber makes what a starting optometrist does (65-70k). Just think of the real cost in terms of principal, interest, and opportunity cost during 10yrs of school that she could've been investing. Now she's in her 30s and handcuffed to a career. The plumber who makes 65k starting at age 20 could probably build 7 figures more wealth by retirement than some of these stupid degrees.


Yet how smart we farmers are to buy our own jobs. We spend 1 to 2 million bucks on a quarter of land that after taxes brings home maybe 40k a year. Man are we smart or what!?!? Smh

Edited by 270 2/7/2021 21:56
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