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Apr 25, 2006 4:24 pm

[quote=mikebutler222]

[quote=Devoted SA]I have to ask, Mike…and I’m NOT being condescending. When is it not in the best interests of a household to be debt free? Just wondering, always like to hear different point of view. [/quote]

When the opportunity cost of paying off a, say 5% mortgage, exceeds the savings.

[/quote]

Now THAT I'll agree with!  In general, too, I'm comfortable with mortgage debt on one's primary residence as being a permanent part of the overall picture.

However, it seems to me that is the RARE exception that proves the rule.....especially the low rate you cite in your example.
Apr 25, 2006 4:41 pm

[quote=Indyone]

“No, you didn’t. I was referring to the poster that made a Federal case out of what I saw as a reasonably phrased corrective post of mine. You know, the guy who’s never worked at a wirehouse but knows about “menus”.”

I didn't single you out as being fearful to leave either.  I'll always believe that there are those that stay at the wirehouse due to fear of the unknown, including how to work around non-competes and how to run your own business from the administrative side, the fear of whether clients will follow, etc.,etc.,etc.  I didn't say you were necessarily one of them and I couldn't care less if you are or not.

...and I don't consider myself less of a person because I've never worked at a wirehouse.  I know plenty about what's available at most wirehouses, how compensation and benefits work, etc.,etc. to participate in a meaningful discussion about the differences between the road I've chosen and the one you are on.  I've also had experiences that you'll never get at the wirehouse, so get over yourself.

We're not going to agree on this or many subjects, but just keep up the personal attacks if you want to flame this up again...I wouldn't have bothered with you had you not felt the need to sling a little more crap at me in your reply to Joe.

[/quote]

I hear what you're saying Indy but do we REALLY want to start this up all over again?
Apr 25, 2006 4:46 pm

[quote=joedabrkr] [quote=mikebutler222]

[quote=Devoted SA]I have to ask, Mike...and I'm NOT being condescending. When is it not in the best interests of a household to be debt free? Just wondering, always like to hear different point of view. [/quote]

When the opportunity cost of paying off a, say 5% mortgage, exceeds the savings.

[/quote]

Now THAT I'll agree with!  In general, too, I'm comfortable with mortgage debt on one's primary residence as being a permanent part of the overall picture.

However, it seems to me that is the RARE exception that proves the rule.....especially the low rate you cite in your example.
[/quote]

Well, I don't think there's anything rare about a household having a  mortgage and while rates are closer to 6 or 6.5% the same rule about opportunity costs applies. More often than that, people already have some form of debt that can better better handled than it currently is.

Consider this, how many of your clients are completely debt free? If any are, why haven't you suggested to them to sell their portfolio off to pay off all their debt, if you think completely debt-free is what they should be.

Apr 25, 2006 4:48 pm

[quote=joedabrkr] [quote=Indyone]

"No, you didn't. I was referring to the poster that made a Federal case out of what I saw as a reasonably phrased corrective post of mine. You know, the guy who’s never worked at a wirehouse but knows about “menus”."

I didn't single you out as being fearful to leave either.  I'll always believe that there are those that stay at the wirehouse due to fear of the unknown, including how to work around non-competes and how to run your own business from the administrative side, the fear of whether clients will follow, etc.,etc.,etc.  I didn't say you were necessarily one of them and I couldn't care less if you are or not.

...and I don't consider myself less of a person because I've never worked at a wirehouse.  I know plenty about what's available at most wirehouses, how compensation and benefits work, etc.,etc. to participate in a meaningful discussion about the differences between the road I've chosen and the one you are on.  I've also had experiences that you'll never get at the wirehouse, so get over yourself.

We're not going to agree on this or many subjects, but just keep up the personal attacks if you want to flame this up again...I wouldn't have bothered with you had you not felt the need to sling a little more crap at me in your reply to Joe.

[/quote]

I hear what you're saying Indy but do we REALLY want to start this up all over again?
[/quote]

It won't start up again, there's just no reason. He said it himself, he's never worked at a wirehouse, how he's qualified to talk about life there is a mystery.

Apr 25, 2006 7:51 pm

Its WAR!  

Apr 25, 2006 8:29 pm

[quote=7GOD63]Its WAR!   [/quote]

Too late, it's now peace in the valley. You may return to regular programming  ;)

Apr 25, 2006 11:16 pm

Everybody stop posting…let MikeB have the last word, like he likes it. OK?