Financial Freedom

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Load Up on Credit Card Debt

Conventional thinking:  All debt is bad, especially credit card debt.  I should get rid of all my credit cards and start using debit cards instead to force myself to only use money that I have in the bank.
Contrarian thinking:  You can use debt to your advantage.  Credit cards in particular offer a number of incentives […]

Popularity: 43% [?]

23Feb2008 | goldfish | 8 comments | Continued
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Becoming a Millionaire is Overrated

Conventional thinking:  If I become a millionaire I will be able to live a life of luxury and financial freedom. 
Contrarian thought: A million dollars does not buy you much these days.  Even if you are lucky enough to become part of the 0.13% of the world population who qualify to call themselves millionaires, your life […]

Popularity: 87% [?]

21Jan2008 | goldfish | 4 comments | Continued
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Retirement at 65 is the Wrong Answer

Conventional thinking: I should sacrifice my life during my productive years, doing work I don’t enjoy and not taking any significant time off so that when I am 65 I can retire and have enough money saved up to finally enjoy life. 
Contrarian thought: You productive years also happen to be the years in which you […]

Popularity: 72% [?]

18Jan2008 | goldfish | 4 comments | Continued
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Owning a Business – Be Careful with What You Ask For

Conventional thinking:  If I have my own business, I can be my own boss.  That means no one will give me orders, I will set my own hours, and I will finally be free.  Really?  Wait until you hear this story.
A good friend of mine always dreamt of owning his own business.  He did not […]

Popularity: 64% [?]

14Jan2008 | goldfish | 3 comments | Continued
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Why Buying a Luxury Car is Smarter than Buying a Luxury Home

Common sense: A home is an asset that appreciates in value and that can be purchased with tax deductable borrowed money.  A car on the other hand depreciates quickly.  Therefore you should buy the biggest and most expensive house that you can possibly get away with and avoid buying expensive cars.  This seems to make […]

Popularity: 100% [?]

4Jan2008 | goldfish | 9 comments | Continued