Quote:
Originally Posted by Lone Star M3
It does not matter what you own, if it is not making money it is a liability.
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LOL! That is the most ridiculous shit I've read in 2016. Now as my time here can attest, I am not one to flame or engage in frivolous arguing or name calling. I certainly don't intend to now. With that being said, I do hope you are not giving out 'financial advice'. In the U.S. As this comment has essentially changed the direction of the OP, I would like to reference one of my favorite websites: NerdWallet:
http://www.nerdwallet.com/blog/credi...ebt-household/
Quote:
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Debt is an unwelcome guest at the table in many American households. The average U.S. household with debt carries $15,355 in credit card debt and $129,579 in total debt.
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Why do I bring this up you may ask? Simple. It is in direct response to your comment above. DEBT is a MUCH bigger concern that actual INCOME and or the ability to generate it. One of the absolute, without ANY question ways to help alleviate that concern is becoming "DEBT FREE".
So to say that owning something that doesn't earn money is very absurd. When my mortgage becomes paid for in the next 5yrs or less, I will have accomplished multiple things: eliminated my largest debt - acquired the most tangible asset most humans can have: property/real estate. For as long as I can remember, becoming debt-free is and should be everyone's # 1 priority. That in turn allows for all sorts of possibilities including economic growth and security.
*edit* I may have misinterpreted your post, if so, I apologize.
I took it to mean, that owning (clear) anything including your home or even car (which mine is also paid for) is not worth doing or is somehow not smart?
My train of thought and advice to everyone is to try and reduce your debt load! That in turn increases your income as it is not vanishing away constantly. I learned this from a dear Millionaire friend when I was in my 20's. He at the time was in his 50s.