Tag: debt
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Debt doesn’t just cost interest. It sacrifices opportunity.
One thing is for sure. Debt is costly. If I take a $50k loan to fund my wedding, at 5% for 10 years, I would pay $13k in interest. But if that $50k had been saved or invested at 5% for 10 years, I would have ended up with $81k, or over $31k in interest.…
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Debt is okay, sometimes
What I do: Like many Singaporeans, I have a housing loan. You borrow money, you pay it back later, with interest. That is debt. People hate it. “Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.” Ogden Nash Good and Bad Debt There is good…