hightowerParticipantStatus: PhysicianPosts: 1501Joined: 12/07/2016
First, I can’t let this one go without being challenged…someone said something about “our current present going from broke to billions…” Hardly what happened…daddy gave him millions to start with and his leveraging practices were and still are borderline criminal, shady, and definitely con-man style (trump university). He’s wealthy because he’s cheated and stolen his way there. Definitely not an example to follow.
Anyway, I digress. I think the key thing to keep in mind when you hear people preaching the zero debt philosophy is the target audience. Most Americans, doctors included, are IDIOTS with their money. If it wasn’t for the conservative nature of this site and other sources such as Dave Ramsey, I’d still be an idiot too. It’s a dangerous thing to say that debt is ok to the masses because they will take that to mean they should borrow for everything and never worry about their insane spending problems and end up with hundreds of thousands of dollars of consumer debt. For highly financially educated and disciplined people, such as Zaphod, carefully leveraging yourself and investing your cash can certainly build wealth quickly. It is also risky and not for everyone. And it certainly wouldn’t be wise to recommend that method to the masses because the risk of doing more harm than good is high in my opinion. Preaching debt avoidance and frugality is far safer. More “advanced” readers will eventually learn how to carefully and intelligently use debt to their advantage. But not everyone is going to get to that level.