If you have debt you are not free.
Discussion
Only if they can enforce you to repay it
I pulled a michael Saylor and am levered to the gills with my sat stack. Good thing... I acted when rates and price of btc were both low-er than they are now.
With debt... I became free.
Be careful with that play.
The #Microstrategy applied to regular shmucks like us leaves us in a vulnerable position.
About 4 years ago...I took out a 20 yr mortgage and 5 yr car notes both under 3% rate. Bought btc with the difference (cash on hand) and able to monthly dca, cause of the low rates.
Who'd every payoff/retire a 2.375 note for 20 years?
I'll stay in debt please.
er.com/embedded/download/3kqa.gifAs long as you dont have the debt now you are free. But if you have debt now you are not free.
My point... all debt isn't created equal. Debt and leverage can be used in a beneficial manner. Yes it can cut both ways.
Yes I've seen people own shit free in clear end up in a financial pickle cause they don't have dry powder ($$) when needed most.
I could sell the corn and be debt free... but for what? Btc 4 year cagr is 43%.
The answer is because freedom. I know debt could be used as a help. But its taking away freedom for a “help”. Freedom is more valuable than what debt can offer in the end.
You say you could sell corn to get out of debt but for what? To be free friend.
I totally understand why people have debt though. I know those tricks. I just dont partake. I want to live within my means. Below it actually. What good is debt if it means you are not free. You are beholden then.