schell70
Member
- Messages
- 314
I may get slammed for this but.....
I was brought up to not buy something until I had the money - how quaint these days!
However, when I was in my late 20's after being made redundant twice I was looking at buying a share in a business and went to an Actuary for some advice - now this guy drove a brand 911 Turbo and had a big house - whilst I laid out my concerns of spending near on 200k for the business his response was this:
'Oh dear god no, don't use your own money, use other peoples! Borrow it and if the firm goes tits you won't owe it'
Ever since I have done this (the firm didn't go tits by the way!) - borrowed money from the banks to fund investments (mainly property) - technically I now carry an eye watering amount of debt however if it all fell apart tomorrow I wouldn't be on the street. I own all my cars outright - including the GT (it was cheap!) and have a reasonably small personal mortgage.
I see too many people on PCP's they can't afford who critise me for the debt I carry but it's a slightly different kettle of fish - I have backups and worst case I'd just do driving work - it wouldn't be the first time!
Slam away......
I was brought up to not buy something until I had the money - how quaint these days!
However, when I was in my late 20's after being made redundant twice I was looking at buying a share in a business and went to an Actuary for some advice - now this guy drove a brand 911 Turbo and had a big house - whilst I laid out my concerns of spending near on 200k for the business his response was this:
'Oh dear god no, don't use your own money, use other peoples! Borrow it and if the firm goes tits you won't owe it'
Ever since I have done this (the firm didn't go tits by the way!) - borrowed money from the banks to fund investments (mainly property) - technically I now carry an eye watering amount of debt however if it all fell apart tomorrow I wouldn't be on the street. I own all my cars outright - including the GT (it was cheap!) and have a reasonably small personal mortgage.
I see too many people on PCP's they can't afford who critise me for the debt I carry but it's a slightly different kettle of fish - I have backups and worst case I'd just do driving work - it wouldn't be the first time!
Slam away......