S
Shutpa
If you won enough money to pay off your mortgage and all other debts, would you pay them off OR would you share your winnings between friends and family and leave yourself still in considerable debt?
P
pna
Agree with the last poster - pay off your mortgage that way giving you some extra disposable income, which you can then use to help those that really need it.
I'm not one of them but I do sometimes get such advice - and not only from banks. In one place I worked, my boss was quick to tell anybody who would listen that they should keep moving to the most expensive house they could afford. Now I could just about see his logic ( though I noticed that he never did it himself) but more recently I got this:
"When you've paid off the mortgage you should remortgage the house and buy another one."
"Why?"
"So that you can sell it at a profit"
"But I'll have to pay interest on a mortgage for a house I don't need."
"You rent it to somebody."
"Why? I could do without all that hassle."
"Because you'll make money."
"But I won't need it."
That's my trump card. End of argument? Apparently not --
"That's not the point. You'll have capital doing nothing. You really should use it to make more money."
Overtrumped or what?
Calling all economists. If people like me just sit back and enjoy their accumulated wealth, will that really cripple the economy or is this guy just jealous and he want's to see me back in debt like him?
Been reading this, http://www.noogenesis.com/pineapple/fisherman.html , SC? 
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I have no mortgage. What would I spend my winnings on?
The tale of the Mexican fisherman bears closer scrutiny.
On the face of it, the American tourist is telling him to work his butt off for 15 to 20 years - and risk losing everything in the process - so that he can spend the rest of his life doing what he does already. Bad idea? It certainly sounds like it but let's take a closer look.
The American way means that millions of people can buy tins of tuna. They don't need to go fishing so they have time to go to work to earn the money to buy the tuna. Some of them will make boats so that Mexicans can go fishing!
Don't get me wrong here. If I was the fisherman I would tell the tourist where he could stick his idea. But I'm a medical technologist. If it wasn't for the efforts of those like the American I wouldn't have a job because there would be little in the way of either medicine or technology as we understand them!
It seems to me that we need a certain amount of greed to make it all work. 
PS: I'm reminded of a species of proto-human that had an unusually easy life. Their diet consisted of plant roots that were in plentiful supply and so, according to at least one anthropologist, they spent their days lying around sunbathing and having sex.
Unfortunately for them their food supply dwindled away - and so did they! 
On the face of it, the American tourist is telling him to work his butt off for 15 to 20 years - and risk losing everything in the process - so that he can spend the rest of his life doing what he does already. Bad idea?
It certainly sounds like it but let's take a closer look.The American way means that millions of people can buy tins of tuna. They don't need to go fishing so they have time to go to work to earn the money to buy the tuna. Some of them will make boats so that Mexicans can go fishing!
Don't get me wrong here. If I was the fisherman I would tell the tourist where he could stick his idea. But I'm a medical technologist. If it wasn't for the efforts of those like the American I wouldn't have a job because there would be little in the way of either medicine or technology as we understand them!
It seems to me that we need a certain amount of greed to make it all work. PS: I'm reminded of a species of proto-human that had an unusually easy life. Their diet consisted of plant roots that were in plentiful supply and so, according to at least one anthropologist, they spent their days lying around sunbathing and having sex.
Unfortunately for them their food supply dwindled away - and so did they!
S
Shutpa
Been reading this, http://www.noogenesis.com/pineapple/fisherman.html , SC?
Had a look but it was Too Long or was it Chuang Tzu - I cant tell one Chinaman from another!
S
Soggy_weetabix
As shivermetimbers on www.419eater.com I would pretend to give it away to those mugus in Western Africa (not all scams come from there I might add).
David
David
