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Steve said:I appreciate all of the varying viewpoints on this topic, but I remain steadfast:
Eliminate Debt.
Actively Manage Budget.
Take advantage of qualified investments.
Insurance is insurance. Investments are investments. Aside from some tax situations, treating insurance as an investment instead of insurance is paying for someone to do what you should be doing without them. That's a loss. That's one reason (in Wisconsin, and I presume elsewhere) there are regulations strictly prohibiting insurance agents from representing themselves as "financial advisors."
I am not defending or endorsing BTID.
I am not defending or endorsing perm.
Every situation is different. Everyone can beat this to the ground, forever. Everyone is right, everyone is wrong.
The difference lies in those who are controlling their lives and those who aren't. 90% of the population (pulling the number out of nowhere!) lives on todays and tomorrows earnings. Fancy houses, fancy cars, great appearances, no substance.
I guess you'll never get it? We are not necerssarily talking investment or savings. We are talking about equity management yet you and others now move on and talk "Keeping Up with the Jones's". I really don't get that at all.