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I've always considered DR a "first line" personal finance coach.
He's great for things like credit card debt and living below your means. Once you have that down, a lot of his advice is just not sophisticated or that helpful.
There are LOTS of retirees that rent. Many older people find that renting apartments and condos are easier to manage than SFH.
There is a HUGE difference between choosing to rent once you're paid off your mortgage and involuntarily renting because you were never able to own a home.
I've always considered DR a "first line" personal finance coach.
He's great for things like credit card debt and living below your means. Once you have that down, a lot of his advice is just not sophisticated or that helpful.
Not really, because there are tens of millions of Americans with means sufficiently low that a diet of beans and rice won't solve.
Nobody openly displays their paid off mortgage for the world to see. Isn't broadcasting it to the world the point of a status symbol?
Aren't there better status symbols than that?
It's just a metaphor for people who have chosen to live a debt-free lifestyle; a saying in reference to those who have foregone owning true status symbols in order to attain the goal of having the house paid off. I don't get why any rational person would try to read more into it than that.
I have a paid off house, and people actually look at you weird if they know!
A few years back I had to answer the question "How much is your mortgage or rent payment?" three times, the last time very slowly, because the (business line of credit) ween couldn't seem to grasp "Nothing. Zero. Don't have one."
Not really, because there are tens of millions of Americans with means sufficiently low that a diet of beans and rice won't solve.
I'm willing to bet that a large percentage of them are people who have lived beyond their means. It's hard to feel sympathy for anyone who does that.
It's really pretty eye-opening to find out that your friend who drives a Ferrari needs to borrow a couple of bucks for a fast food hamburger.
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