Wealthy use debt to buy future cash flow everyone else uses debt to buy stuff (2020)

Re:Wealthy use debt to buy future cash flow everyone else us... by ryanmarsh on Sunday May 09, 2021 @09:08PM (#27101559)

I love the reactions I see when people are presented with sound financial advice. This is really boilerplate stuff every wealthy person knows. Over and over I see sound sane boilerplate financial sense get treated like it's poison and absolute garbage financial advice gobbled up like candy.

As my grandfather used to say, "If you sold $20 bills on the corner for $19 all you'd do is get arrested."

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Re:Wealthy use debt to buy future cash flow everyone else us... by benhurmarcel on Monday May 10, 2021 @03:37AM (#27103619)

> This is really boilerplate stuff every wealthy person knows.

Since it's so common knowledge, can you point me to where I can buy a website that makes $200/month for $3000?

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Re:Wealthy use debt to buy future cash flow everyone else us... by jspash on Monday May 10, 2021 @06:43AM (#27104533)

Also, 2nd mortgages aren't normally readily available. Particularly with such a small down payment. But maybe it's different for people making $200,000/year?

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Re:Wealthy use debt to buy future cash flow everyone else us... by MarblePillar on Monday May 10, 2021 @12:23AM (#27102667)

This is why: "You are the slave. You are at the mercy of your next paycheck and the mercy of your employer."

Immensely powerful quote.

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