8:16 am ET Jun 17, 2014  Wealth Management  The Only Three
Purchases That Are Worthy of Debt      • 1 - "Luxury" Cars and
Homes are a trap for the aspirational. Purchase when the time
comes.       2- Everyone loves buying a home or condo... but why
are you paying half your net income on your house payment? Its a
trap that contributes to lost retirements as well.       3-
Living an ascetic life is a fools errand, but how we buy things
determines our success as well.      • Point of clarification: A
car is not an investment. The consumption is spread over time so
financing makes some sense. Make no mistake though, a car is an
expense not an investment.      • You're friend who never made
more than 40k a year, who is now in his late 80's couldn't have
done that in today's economy, so that's bs. If he retired in his
60's and began working in his 20's that puts him in a completely
different financial climate, especially for the lower middle.
• I would disagree with the debt decision for an automobile
purchase