Re: Loan payments impact on credit score

In article <7TWKj.433$7Z2.374@[EMAIL PROTECTED]
>,
 Mark Bole <makbo@[EMAIL PROTECTED]
> wrote:

> A non-trivial number of people have a lot of debt and still manage to go

> out and enjoy the sun****ne every few days... they haven't lost
everything.

Then you should keep some notes, and let me know how all these credit
card moguls are doing when they hit 65.  I am willing to bet that
most of them are still in debt at 65, few can afford to retire, and
nearly every one of them needs take welfare (in the form of social
security checks).

>  From a financial planning viewpoint, I argue that under the right 
> cir***stances, it can be wise to take negative mortgage amortization, 
> reduce a 401k matching contribution, buy a used car on credit, and so 
> on.  It really depends on individual cir***stances and tolerance for
risk.

I'll agree it is wise if you are selling these things and make big fat
commissions.  But if you are a normal everyday person, doing things
that are in this list will prevent you from achieving critical mass,
and doom you to a retirement where you are living day to day on
welfare fighting the cats and dogs for scraps from the dumpster.

A person only has one shot at life.  That shot is time based.  If
you miss the chance or waste the time, you will be in a world of
hurt when age 65 rolls around.

-john-

-- 
====================================================================== 
John A. Weeks III           612-720-2854            john@[EMAIL PROTECTED]
 
Newave Communications                         http://www.johnweeks.com

======================================================================

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