Unsecured Loans

[Country_Bookie]

Is it possible to navigate life without taking huge loans?.
That's the question.

Of course. Most people have 1 -2 million in cash by the time they're in their thirties to be able to pay cash for a house. They just take a mortgage to help the banks make profits for the next 25 -30 years.

Most people also get a huge signing bonus when they start their first job that they can use to pay cash for their 1st car.

[AlphaMan]

Is it possible to navigate life without taking huge loans?.
That's the question.

Of course. Most people have 1 -2 million in cash by the time they're in their thirties to be able to pay cash for a house. They just take a mortgage to help the banks make profits for the next 25 -30 years.

Most people also get a huge signing bonus when they start their first job that they can use to pay cash for their 1st car.

What first job they doing to have millions in there 30s..

[goalpost]

Is it possible to navigate life without taking huge loans?.
That's the question.

A lot of ppl don't take loans but they don't have anything.

I personally only have 1 loan at this time, a car loan. Prior I had paid off 2 other loans, a personal and another car loan. If I hadda buy another car, is another loan I hadda take. Have no mortgage thankfully.
At this point I have my own home, 2 cars and savings of about 120k. I hope to never take another loan, but life has its ways.

[AlphaMan]

Is it possible to navigate life without taking huge loans?.
That's the question.

A lot of ppl don't take loans but they don't have anything.

I personally only have 1 loan at this time, a car loan. Prior I had paid off 2 other loans, a personal and another car loan. If I hadda buy another car, is another loan I hadda take. Have no mortgage thankfully.
At this point I have my own home, 2 cars and savings of about 120k. I hope to never take another loan, but life has its ways.

Do you mind sharing your age...if not the exact age..the range...30s, 40s, 50s etc

[goalpost]

39. Also I'm married with 4 kids.

[AlphaMan]

39. Also I'm married with 4 kids.

Doing good for your age

[MaxPower]

39. Also I'm married with 4 kids.

39 with no mortgage?

Well done man.

[AlphaMan]

39. Also I'm married with 4 kids.

39 with no mortgage?

Well done man.

How old are you Max?

[88sins]

Is it possible to navigate life without taking huge loans?.
That's the question.

Short answer, yes, but it will take longer to acquire substantial achievements.
What I tell ppl is this.
From the day you start working, save like your life depends on it. Because it does.

[adnj]

If the annual property appreciation rates are 5 to 8%, as they have been in the past, and the mortgage loan rates are 6 to 7%, the property value at the end of term will be greater than total of all mortgage payments.

If you are sure that you will have a steady income, and the mortgage rates are less than the prevailing property appreciation rates, you are likely better off buying a home with a mortgage.

When you consider the cost of repairs and maintenance vs. rent payments over the same period, you are likely to be even further ahead.

[88sins]

If you have to choose, between buy vs rent, even if the mortgage is 25% more than your rent, it still better to buy.

Simply put
Yuh not ever gonna have one green moldy cent worth of equity in yuh landlord apartment.

[JayBoi90]

Is it possible to navigate life without taking huge loans?.
That's the question.

Not really, but the loans need to make that money back, otherwise you're running with new rings and no oil

[VexXx Dogg]

Is it possible to navigate life without taking huge loans?.
That's the question.

A lot of ppl don't take loans but they don't have anything.

I personally only have 1 loan at this time, a car loan. Prior I had paid off 2 other loans, a personal and another car loan. If I hadda buy another car, is another loan I hadda take. Have no mortgage thankfully.
At this point I have my own home, 2 cars and savings of about 120k. I hope to never take another loan, but life has its ways.

Agreed, everyone circumstances different.
I don't come from generational wealth, so all my major life items are loan based. If I had to save cash to do anything with the current rate of the housing market and cars, I woulda likely die waiting and not own anything. That's compounded by the fact that not everyone has a job that gives them huge buffers for savings with the current cost of living.

As I see it, life is a house of cards that you build with the hope that you have a better foundation for your kids to land on.

If you don't have kids, then YEET, YOLO and Carpe Diem away

[88sins]

Is it possible to navigate life without taking huge loans?.
That's the question.

Again, the answer is still yes
It will just take longer to accomplish the major milestones.