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My friend... That sounds like some really BAD advice. Gold (even Warren Buffet warns against), Real-Estate (which is extremely risky, limits your job and moveme
by ChrisNorstrom 13y ago
My friend... That sounds like some really BAD advice. Gold (even Warren Buffet warns against), Real-Estate (which is extremely risky, limits your job and movement flexibility), No Credit Cards (so you plan on having no credit history?), I don't even know where to begin. That's some terrible advice.
- kamaal 13y agoI am NOT suggesting you buy tons of gold or hundreds of properties. That's what Warren Buffet advices against, because in problems like sub prime crisis, the more you own the more you lose. That is a totally different scenario. But I've seen millionaires being made and money being transferred through three generations in a family, only because some one invested in properties and bought enough gold when it was cheap and easy to buy, and later find it multiply. And people there hardly do enough work except for building more wealth through rents they get. May be controlling a lot real estate is dangerous from a super super long term perspective. But by then, your great great grand daughters bones would have turned to dust and it wouldn't bother you least bit. Gold, real estate, and kids. Nothing really beats these investments in a true sense.
- anovikov 13y agoWhy having a credit history if one plans to have a frugal life with no purchases he can afford out of the pocket?