2 million California homeowners live mortgage-free

I did a poll on the forum and the maximum leverage on this forum was 50%.

I think one can register a corporation and use leverage with commercial loans on his corporation only. He can keep his personal property at very low leverage. That way, you can treat your corporation as risky asset that’s going to make you a fortune or lose everything. But your personal life will be guaranteed by your personal asset

Sounds like Trump.
Hard to get non recourse loans without personal guarantees… Trump and others soiled the lending pool

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Old rule of thumb for stocks vs bonds in your portfolio used to be that you should subtract your age from 100 - and that’s the percentage of your portfolio that you should keep in stocks. For example, if you’re 30, you should keep 70% of your portfolio in stocks. If you’re 70, you should keep 30% of your portfolio in stocks.

Maybe loans should be treated similar… At least reduce debt based on age… Aim for 0 debt at 70?

Because people always strive for better grounds. Elon Musk already made $30M before PayPal. However he wasn’t satisfied and dumped all his net worth into PayPal. He ended up making $300M with that. But still he wasn’t satisfied. He dumped most of his $300M into SpaceX and Tesla which turned him into a multi billionaire today.

So, just because you have $50M is not going to prevent people from leveraging more.

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Give me 50M and I promise I will not leverage. :grin:

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Me too. For every billonare there are thousands who lost everything taking too much risk. Trump lost more than he made, but it was other people’s money…
I was there myself. Had $10m made before 50…Lost half striving for $20m… risk has major costs… Best to do when you are young.
I bet Musk goes bankrupt. Or at least bankrupts a lot of his investors… He thrives on risk…not interested in his investors or even making money…Just wants to make history… very dangerous guy to invest in.

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If you are leveraging now, you will still be leveraging at 50M… :rofl:

OMG did you just say that??? Now I definitely have to consider upping the ante on TSLA… :rofl:

One of the rules you should never break is getting to retirement with no deductions. And you go that way, never pay taxes again. Why? Because all our dreams is to retire happy, healthy, and rich with no problems with the tax guy.

Well, most of people when they retire they have just put the last payment on the house, now, they can’t deduct property taxes, no kids, no this, and no that. All it is left is their social security payments being hit hard by the government.

Is Musk Tucker or Ford?. Time will tell

Hold on, you forgot about someone like dear old Mom who paid off the home but gets rental income still from the units in her golden years. Yes, she pays Uncle Sam quite a bit since no deductions but since she lives a relatively simple life the last thing she needs to worry about is money honestly. Let’s be honest, most seniors do not have that luxury.

I can imagine that I am one of them. I’m searching a mortgage settlement company that can settle my mortgage. Here it is you can also contact with them :rofl: :rofl: