No-Brainer
Senior Member
Cash: $ 83.45
Posts: 986
Joined: 29 Dec 2005
Location: Oregon USA
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I consider the debt on my home to be good debt.
I am retired and paying it off might reduce my expenses, but it would also put a cramp in my lifestyle. I like having fun!
My home is appraised at $290,000 and I have a $90,000 loan on it. I figure my kids can pay it off out of theproceeds from the sale after I die, so why should I worry about it. My rent (so to speak) is only $650 a month and I couldn't live for that anywhere else.
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Thu Jun 29, 2006 1:50 pm |
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Finandom
Member
Cash: $ 4.40
Posts: 22
Joined: 30 May 2006
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To me, a good debt can be anything and in any form. As long as a debt can bring any positive cash flow to me (which already cover the cost of the debt), it will be a good debt for me. 
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Thu Jun 29, 2006 2:39 pm |
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tychicus
Member
Cash: $ 3.90
Posts: 24
Joined: 28 Mar 2006
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good debt will built up your wealth
bad debt will suck your wealth
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Wed Jul 05, 2006 2:39 am |
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forexmaestro
Contributing Member
Cash: $ 7.60
Posts: 37
Joined: 25 Jun 2006
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Robert Kiyosaki talks a lot about good debt vs. bad debt in Rich Dad Poor Dad. I think there is absolutly good debt. Any debt that will later result in an increase was good debt, and will have been worth it.
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Sat Jul 08, 2006 3:26 am |
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bijan814
Full Member
Cash: $ 12.40
Posts: 73
Joined: 25 Jul 2006
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well basically good debt is whn you buy a house, or a business. Bad debt is when you buy a car, clothes, computer and other items. If you can make money from that debt, then its good debt.
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Wed Jul 26, 2006 5:04 am |
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sam1000
Full Member
Cash: $ 21.05
Posts: 95
Joined: 28 Jul 2005
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so would you consider a car loan good or bad debt? The car helps you to get to work in order to make money but on the other hand it is a seriously depreciating asset so one could argue that you should only use cash to buy such an item and not incur debt.
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Fri Jul 28, 2006 10:58 pm |
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go2self
Preferred Member
Cash: $ 26.45
Posts: 129
Joined: 06 Aug 2006
Location: hawaii
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The entire market place (commodities, stock, currency, mutal funds) exists on good debt (debt that is serviced by self perpetuating cash flow).
Good debt also pays for the bad debt (including drop in market prices).
The entire manufacturing process requires debt to carry raw materials to consumer purchase.
Yes, Virginia, there is good debt, and the workd needs it to continue doing business.
I owe, i owe , i owe, so off to market i go.
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Sun Aug 06, 2006 11:15 pm |
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