Nothing that doesn't generate income monthly is an asset. Your house burns down tomorrow. Is it an asset or liability? When you understand this, your bank will loan you 7 digits no problem. The problem is, unless you are using that money to create an asset, you better not borrow it.

I've walked into BECU, they handed me a letter of credit for 6 digits for a car I was yet to buy, no questions asked. You don't know how tempted one becomes.

It would seem my FICO score is off the charts. Problem is, FICO is not anything more than an I love debt score.

My FICO is still off the charts. I can have anything I want at any point in time I want. Problem is, would you rather finance your banks Ferrari, or your own? This is where maturity comes in. I have wisened up. Have you? My FICO continues to decline, and my ultimate score will be '0'. I have bought out my last cars. I have cleared up the Credit Cards. They will all be a distant memory to me. Now my FICO declines simply because I no longer use debt. Good riddance.

There is only one CC in this house any more. It stays around for my online purchases. Paid in full monthly if it is even used once during the year.

-S

In Zimbabwe, you can be a billionare and staving:nope:

I would consider someone who is worth 1 million in cash and assets to be rich. But many of the "rich people" are rich only on paper. A bad day at the stockmarket can send them to the wall very quickly.

To me rich is not having to work but be able to live comfortably for the rest of your life. I don't think that in todays dollars 1 million bucks would do it.

Given what it takes to make me happy, a million would be way more than I'd ever spend.

No KiDDING....
:nope: Obama wants to raise income taxes, bring back the inheritance tax, and apply a windfall tax to your savings and retirement accounts and limit how much you can invest. So much for the freedom to do what I want with MY money. I wouldn't exactly call my 401K a "windfall" but I worked for it and it shouldn't be taxed to redistribute the "wealth" to millions of illegal immigrants and homeless drug addicts that didn't work for it!:damn:. People forget the Clinton era and how much they paid in taxes... at least Bush did away with the inheritance tax, known as the "death tax". Families (especially farmers rolling over in their graves) that lost farms that had been in their families for generations when their sons and daughters couldn't pay the captial gains without selling the farm.
I will always be rich and wealthy and happy if I can work hard at something that I love and be responsible for myself, it's a pretty simple equation.

Count me out of this thread!:yep:

For whom enough is not enough, it will never be enough. And that is a poor guy in my book.