Retirement- here Is No Scenario Where This Ends Well

[percysunshine]

I will forever be grateful to Aunt Mabel and Uncle Bob who taught me to always pay myself first. I lived with them for a time and learned to take 10% of every pay check or income and sock it away. From my aunt, I learned to always put a bit of cash away for easy access and from them both, I learned that the only debt worth having is for real property.

I admit that there were times when I rolled my eyes at the old folks but they were children of the Great Depression and, in time, their advice "took". There have been times when I had to dip into the money I swore I would never touch but I found I really liked having that security.

I know people my age who have nothing and make minimum payments of a fistful of credit cards. We're not wealthy, not by a long shot but we have no debt and these days, that's almost the same thing as being rich. If we can't pay cash, we don't buy it and we recently bought a car for cash. Even our three properties are paid for.

We have one up for sale and its interesting that the people who have wanted to buy it cannot qualify for a loan and want us to carry the paper.

My. How very conservative of you.

 

[percysunshine]

Neither a lender nor a borrower be, good advice for most folks but not necessary good advice for a business or a nation.

So who wins in Greece? Really, they are never going to be able to pay back the money. It has already been spent. So Northern Europe is hosed...but they keep lending more money anyway. I guess you could say Greece won, they got something for nothing.