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Personal Finances / Credit Cards and Consumer Debt


Subject:  Debtor vs Creditor Date:  8/25/2014  4:07 PM
Author:  SeattlePioneer Number:  308524 of 313032

THINK of all the people who get into trouble with debt, and wind up paying large chunks of their income in interest and penalties.

The contrast is those who save and invest over a lifetime. Just as interest charges snowball on debt, dividends, interest and asset value increases tend to snowball when you own assets.

Those who would like to SPEND as much as possible during their lifetimes would be well advised to start by saving and investing and multiplying their earning and spending power by accumulating interest, dividends and asset value increases.

Those who want to minimize their ability to spend over their lifetime should run up debt when they are young, so they can maximize the amout of interest they pay to others and reduce their lifetime ability to spend.

Seattle Pioneer
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