Do You Save Instead of Paying Debt?
|November 5, 2010||Posted by Roshawn Watson under Uncategorized|
By: Roshawn Watson
Can you imagine the psychological benefit of being debt free: knowing that there’s not a cotton-pickin’ creditor who can lay claim to your money? Imagine how it feels to have years worth of expenses banked in non-retirement accounts and not a single debt in the world.
Note the average millionaire has at least 10 years expenses banked, and many could survive for much longer. This is where you are going my friend.
The problem is “(d)ebt brings on enough risk to offset any advantage that could be gained through leverage of debt. Given time,… the risk will destroy the perceived returns.” (Dave Ramsey)
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1 popularized by George Classen’s The Richest Man In Babylon
Copyright 2012, Roshawn Watson, Pharm.D., Ph.D. All Rights Reserved.