re: What do you consider "Upper Middle Class"?

quote:

---

Most consumer debt is bad no matter how you look at it

---

Well, I disagree with this. If people only paid cash for boats, cars, etc. then the economy as we know it would collapse and many more people would be out of jobs. Debt & capitalism go hand in hand. Debt is an instrument of financial egalitarianism if used judiciously.

I of course agree that you shouldn't finance stupid purchases on junk that depreciates quickly. But how bad of an investment is that sofa if you buy something quality and have it recovered many times and keep it for years? (Maybe a sofa is a bad example... let's say bed instead?) Paying more for a better long-term value can be a great idea. Sometimes you really do get more than what you pay for, and buying quality only hurts once.

quote:

---

I'm also pretty sure he doesn't intend for his advice to be used by businesses which is what you're talking about.

---

Your life is your "business." Not doing the things that make businesses grow will stunt your family's income potential. I would imagine that the upper middle class is littered with business owners and independent contractor types, whereas those wanting a paycheck are stuck socio-economically.

quote:

---

25k limit now

---

We'll see if that stands or not.