Debt

I quote from Dave Remsey: " Debt brings on enough risk to offset any advantage that could be gained through leverage of debt."

I cannot agree more on the saying above on debts. Throughout my growing up years, my parents worked hard for meagre pays to support us for a simply  lifestyle. We are lucky to grow up do not need to have the word 'debt' in our vocabulary. After growing up, I have the misfortune having to get a mortgage for my investment flats. When my property was fully paid up, I didn't want to calculate the actual sum I had put in on interests. I guessed the figure would make me depressing. Having fully paid off the mortage, I ventured into buying two more properties, using the deferred payment scheme, and progressive payment scheme respectively. I disposed off the properties when the market showed sign of recovering despite the fact that two banks had approved my two loan applications. Using the proceeds, I converted them into another small project which is within my mean and fully paid for it. I am therefore debt free. How relief it was.

Ya, there would be a lot of comments that I could have used the low interest rate to leverage my purcahses,
in the process, I could invest further. I could have made more income. However, the saying goes, what belongs to you, it is yours; what it doesn't belong to you, it is not yours. My tenure in properties investment had come to a station to stop. I had no regret in not going further to tax on myself to the extreme. I can relate to the above saying, thinking the stress you have put up living through not knowing the actual situations in the future.

More than one year had passed, and the worry and fear I had on rising of interest and other unwelcome scenario did not happen. But who knows, I could have escaped during the window period.

Anyhow, living in debt is never a good thing. We must live within our means. In that way, we sleep well and live a happy life.