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104 sats \ 5 replies \ @SimpleStacker OP 12 Nov \ parent \ on: Rant: If you think 50 year mortgages is debt slavery, you don't understand money econ

The thing is, since you hit a big pay day, you could have done everything you did without paying off the house note.

Maybe, psychologically, you couldn't have. But it would have been a mental barrier, not anything related to actual resources which would have constrained you.

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142 sats \ 4 replies \ @freetx 12 Nov
Maybe, psychologically, you couldn't have.

Thats right. But taking big risk are themselves rooted psychological issues. I had a wife + infant at home, so its one thing to take risk when you are single, but it becomes much more intense psychological / emotional pressure when you are taking big risk with your family well being at stake.

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18 sats \ 3 replies \ @SimpleStacker OP 12 Nov

Yeah, that's fair, and a totally understandable situation. I just think too many people make these choices in an uninformed way, thinking that paying off debt early is always good without really thinking of the implications.

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148 sats \ 2 replies \ @ken 12 Nov

The number of people severely affected by overwhelming consumer debt far exceeds those who are actively making extra debt payments using strategies that are not the most mathematically optimal. People should generally be wary of debt, imo.

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20 sats \ 1 reply \ @SimpleStacker OP 12 Nov

It's not just about mathematical optimality. It's about the realization that everything fiat, including your debts, are illusory and constantly devaluing.

You're right though about consumer debt. That's why it's important to distinguish between taking on debt in order to finance temporary pleasure, versus taking on debt in order to buy real assets.

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41 sats \ 0 replies \ @ken 12 Nov

I appreciate this perspective, I really do. I have an easier time seeing USD as an illusion than I do USD-based debts. But you're right, they are both illusory and constantly devaluing.

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