WoV stock portfolio

Quote: DRich

Quote: billryan

Jeff Bezos had long planned to sell several billion dollars ' worth of Amazon stock this week. He once again got lucky as the stock soared over 20% before he sold. Imagine cashing in four billion to clean up some debts.
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I guess that I am just old school. My thoughts are that if you are worth $250 billion you shouldn't have any debts.
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If you are worth $10,000, you shouldn't have any debt.

Quote: billryan

Quote: DRich

Quote: billryan

Jeff Bezos had long planned to sell several billion dollars ' worth of Amazon stock this week. He once again got lucky as the stock soared over 20% before he sold. Imagine cashing in four billion to clean up some debts.
link to original post

I guess that I am just old school. My thoughts are that if you are worth $250 billion you shouldn't have any debts.
link to original post

If you are worth $10,000, you shouldn't have any debt.
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I agree that no one should accrue debt but in todays world that is nearly impossible for 90% of people buying homes. Also, there are way to many advantage plays where credit card debt can be advantageous. I would guess that I have collected more than $100,000 in benefits from credit card offers.

Quote: DRich

Quote: billryan

Quote: DRich

Quote: billryan

Jeff Bezos had long planned to sell several billion dollars ' worth of Amazon stock this week. He once again got lucky as the stock soared over 20% before he sold. Imagine cashing in four billion to clean up some debts.
link to original post

I guess that I am just old school. My thoughts are that if you are worth $250 billion you shouldn't have any debts.
link to original post

If you are worth $10,000, you shouldn't have any debt.
link to original post

I agree that no one should accrue debt but in todays world that is nearly impossible for 90% of people buying homes. Also, there are way to many advantage plays where credit card debt can be advantageous. I would guess that I have collected more than $100,000 in benefits from credit card offers.
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I don’t know if I’m up to $100k, but I never accrue debt. In the sense I always pay full balance each month. I think for very rich people debt can sometimes have tax and/or estate planning benefits.

I abhor debt. If after a round of golf I owe a partner $2 and forget to pay I can’t stop thinking about it! I do have a mortgage on second house which is just for tax purposes. (I’d have to pay capital gains taxes to round up the money to pay it off).

I don't consider paying your credit card in full each month as accruing debt, but people tend to spend more when they are charging something rather than paying cash so it is something to watch for.

Quote: billryan

I don't consider paying your credit card in full each month as accruing debt, but people tend to spend more when they are charging something rather than paying cash so it is something to watch for.
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I have mixed feelings on that. My credit card bills generally run between $5k to $30k a month depending on purchases. I do consider it debt until I send the balance as a payment each month.

Quote: DRich

Quote: billryan

I don't consider paying your credit card in full each month as accruing debt, but people tend to spend more when they are charging something rather than paying cash so it is something to watch for.
link to original post

I have mixed feelings on that. My credit card bills generally run between $5k to $30k a month depending on purchases. I do consider it debt until I send the balance as a payment each month.
link to original post

I do, as well. I don't charge anything I don't have the money to pay for. When I had my HVAC system installed, I got an interest-free loan for 36 months, but paid it off in less than 18. I was making about $12 a month in interest, but it wasn't worth the sick feeling of owing money. My credit card bill last month was $532, which earned about $10 in cashback.

Quote: DRich

Quote: billryan

I don't consider paying your credit card in full each month as accruing debt, but people tend to spend more when they are charging something rather than paying cash so it is something to watch for.
link to original post

I have mixed feelings on that. My credit card bills generally run between $5k to $30k a month depending on purchases. I do consider it debt until I send the balance as a payment each month.
link to original post

I do, as well. I don't charge anything I don't have the money to pay for. When I had my HVAC system installed, I got an interest-free loan for 36 months, but paid it off in less than 18. I was making about $12 a month in interest, but it wasn't worth the sick feeling of owing money. My credit card bill last month was $532, which earned about $10 in cashback. It's usually closer to $1,000, but that is my mental limit.