Good luck. If you think borrowing from a credit card to invest in the market is a good idea, good luck to you. It’s terrible financial advice to go high risk short term and potentially lose your $ and then get hit with high interest. Past performance doesn’t mean that’s ever a good idea. Gambling and high risk investments should be money you can afford to lose and not money borrowed. Good luck to ya if you think that in the one small case scenario it’s a good idea. Long term it’s A terrible strategy.
Not all credit card purchases are the same. Can’t buy stocks everywhere on a credit card, only a few and usually a fee for it. Getting cash wouldn’t qualify as a no interest rate, it would be either a cash advance or a balance transfer and both have a fee and/or charge to do so. If all purchases were the same people would pay their mortgage on their credit card. It’s terrible advice to borrow money for short term high risk investments. You can find a scenario where it wins, it’s not a good or smart strategy. No financial advisor would recommend you do it.
He's good at that, have to admit. He does proves his adversaries arguments more than he does his own
Something to do with comprehensive 101 I suppose
implied it. If it’s paid of monthly then just count your cable bill as a debt too.
In post 51 he backs off it and says because of significant growth he paid off all debt, so we are to assume his 1.1 million portfolio is up enough this year to pay off his 732k debt he had just a few months ago. Cmon
man.
Cable bill? Too insignificant to even be worthy of mention.
Actually in post 51 he says his CC debts continue, but are paid off regularly.
His post 51 also referred to AMC which, if it refers to the following, has multiplied it's value a number of times in its recent performance:
https://www.google.com/search?q=amc...i57j0i271l3.1998j0j4&sourceid=chrome&ie=UTF-8
We are not informed in post 51 what his monthly employment earnings have been in recent months.
Therein he also states that he no longer needs to "hold any kind of debt" (except CC) , but we are not told why that is the case. Although he says his mortgage (645K at the time of the OP) "is fully paid now thanks to AMC".
What's BS about it? If he had, for example, a 10K debt on his CC (or multiple CC's) due to recent purchases, he has to (i.e. he should) include that in his debts. Therefore he included unpaid CC debt in his list of debts. Just as he should have done. Would you prefer he lie and leave out that debt from his debt list?
See above.
Couple things on this. Firstly I have $100K or $200K in CC balances at any given time (mostly Amex centurion) but I have not paid a cent in interest or fees (other than annual fees) in probably 20 years. So yeah, I included that amount. But in actual fact the other figures were a joke (like I'm going to post any personal financial details on a degenerate forum like this lmfao) and based on this https://www.youtube.com/watch?v=n6rR9Ugv9gI . I naively thought someone on here would pick up on that,....silly me ##)
My actual TNW would shock you. Let's just leave it at that. Toodles
Over $ 700,000 in personal loans and credit card debt, has not paid one penny in interest in over 20 years (I'm giving him the benefit of a doubt and assuming he's trying to talk about consumer debt, so I'll ignore the interest on his mortgage he says is greater than $ 600,000
And he pays off $ 100,000 to $ 200,000 in credit card debt every month. That's an awful lot of spending, eh? There is one plausible explanation for this, but I'll let Mr Has Nothing to Bet figure this out.
PS: Consumer debt and personal assets don't reconcile, unless he has massive gambling debt or supplies cocaine to an entire city block in some poor urban area.
That's the beauty of lying liberals, they eventually talk too much and expose themselves
