Quote:
Originally posted by VirtuMike
I have to tell you your ideas of money are warped. You'll also be surprised with who has and who doesn't have.
First, there is little advantage of owning property outright. If you're good at finance, you can make a LOT more off property if you're mortgaged. Don't believe me? Did you forget about tax writeoffs and the additional leverage you get by using what you do have to spread it out?
Second, nice cars don't mean anything. In many cases, it's another financial calculation to come up with which car to get and how to pay for it. If you run a company, it may be better for you to lease a ferrari than buying a toyota. And it may be better for you to lease that ferrari than to buy it, depending on your use of it.
Then add to the fact that people own things that they don't want anyone to know about, and people don't own things you think they do. Life gets so confusing when you run businesses, and the more money you have, the harder it is to keep track of.
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Amazing someone sees the light. Funny for people to comment on others financies (leases/mortages), when they themselves do not have a CPA, tax lawyer, and financial consultant.