Quote:
Originally Posted by MystroX5
There is nothing that replaces owning with the actual title in hand. Same goes for not having a mortgage and deed in hand. This give you real equity and ultimate financial flexibility. The path to owning and not renting in life requires the initial investment to alway do what it takes to own and break the cycle of thinking in terms of payments.
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My approach is much like yours. I'd rather own and not have payments forever. There is a certain feeling (to me) about having the title in hand.
Heck, I didn't even get my first brand new car until 10 years after I was out of college and then I paid cash for it. I wanted to get my house first, my retirement plan fully funded and get money in the bank for my kids education. Now, my home is paid for, my kids are out of college with no student loan debt and I can buy any car I want.
That said, the next post after yours (#65) makes some sense too. He said, "I like having new cars, so I lease. Also I get tired of driving the same car for more than 3 years. This is my 8th BMW since 2006 when I fell in love with how they drove. Its kind of like cell phones for me, I like having the newest model that's out. lol"
He has a "don't skimp and enjoy life" approach. I can't really argue with that. He drives nice cars all the time while I drove crappy cars for years so I could build a nest egg. I suppose its really a personal thing.