| A true luxury is a reward for investing in and... 734 |
[Feb. 3rd, 2010|03:09 am] |
A true luxury is a reward for investing in and developing a real assetFor example, when my wife and I had extra money coming from our apartment houses, she went out and bought her MercedesIt did not take any extra work or risk on her part because the apartment house bought the car She did, however, have to wait for it for four years while the real estate investment portfolio grew and finally began throwing off enough extra cash flow to pay for the car But the luxury, the Mercedes, was a true reward because she had proved she knew how to grow her asset columnThat car now means a lot more to her than simply another pretty car It means she used her financial intelligence to afford it
What most people do is they impulsively go out and buy a new car, or some other luxury, on creditThey may feel bored and just want a new toy Buying a luxury on credit often causes a person to sooner or later actually |
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