Re: Debt (Was: How much is a FICO score worth?)

On Tue, 20 May 2008 13:28:04 -0500, BreadWithSpam@[EMAIL PROTECTED]
 wrote:


>> An overriding objective of good personal finance is to live within
>> one's means.  By that I mean that there are no unpaid balances at the
>> end of a month - everything is current.
>> 
>> I mention this just in case someone thinks that because of our
>> emphasis on FICO scores, it is acceptable to have debt.  For the
>> record, we can make exceptions for younger folks who haven't had time
>> to pay off their home mortgage.  Beyond that, no.
>
>You seem to refuse to differentiate between good debt and
>bad debt and imply that *all* debt is bad.  It's not.

Bread we've had this conversation before, and I suspect we'll just
have to disagree.

For background, I've been in the personal finance area for almost 4
decades and have never met a successful person who would agree with
you.  (By successful person, I mean someone with a minimum net worth
of $2 million today excluding residential real estate, inherited money
and married money.)

I'll offer you this: Since we're always quoting Warren Buffet, fire
off an email to him and ask what kinds of personal debt he carries
that he could recommend.  If he disagrees with me, I'll listen to what
you have to say.

I do enjoy your other posts.


-HW "Skip" Weldon
 Columbia, SC

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