I’m with you, ER. The one difference I’ve noticed between successful people and unsuccessful people (my definitions, not necessarily mainstream) is that the successful people have tended to avoid debt at almost all costs.
Yes, the “unsuccessful” people might have times in their lives when they are totally flying high. I’ve known people who were living in very expensive homes in very high-end areas, owned exotic cars, vacationed in the most exotic locales, and had VIP memberships at the well-known clubs, etc., and I’ve watched these types crash and burn more often than not.
I’m the kind of person who likes to keep a low profile; maintain a consistent, disciplined focus on the long-term goals; stay the heck out of debt; and make safety and security a very high priority. We’re all different, and what’s right for one person is not necessarily right for another, but my way (our way, as Mr. CAR is 100% with me on this), has served us exceedingly well.
There is no doubt, though, that if everyone did what we do, the world would be set back about 200 years since we need the real “risk-takers” — those who do or who invest money in new start-ups, not those who invest once something has already taken off, or after something already exists — to bring all the new technologies and inventions to the market.
