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Poverty Can Be Rectified

2 Oct 2008

I completely understand wanting your money to work for you (my financial adviser used to tell me I have too much equity in my home…but not lately); however, why didn’t these bankers understand the fundamental concept of SAVING FOR A RAINY DAY?!?  (Okay, admittedly, it seems like a downpour right now because everyone is panicking instead of taking a moment to think things through.)  Anyway, these people made millions upon millions of dollars in previous years, yet they refused to pay off their HOMES.  A home should not be an investment.  People used to understand this concept, but not anymore it seems like.

Before someone tells me these people chose not to pay off their homes because they thought they would get a better return from other investments, I know it’s Investment 301 (no, not 101; 301).  However, to paraphrase Jerry Seinfeld, I work hard so my money doesn’t have to.

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