To grow rich : some people say the way to grow rich is to mortgage the house, while I have some clients who only wish to make their house fully paid and then they think they are very happy. That is because they have this concept of not wanting to borrow money. They dislike this idea. But I would ask : is this the mindset of learning how to grow rich ? if it is, I want to learn and try.
We cannot say if that is right or wrong afterall it is their want. we can only think if that can grow our wealth eventually. But I think whatever we do, it depends on how old we are now.
If one is in their 30's, getting a big loan or good debt is fine. But if one is in their 60's or more, then have to weigh the consequences and ask what you really want, maybe it is just for their short term investment (6 years) and then they will sell then that is fine.
Recently, I went to Luxus Hill and I like the environment there. I was there on a public holiday and saw many big cars passing by. Looks like this place is for the rich & famous ? It cost at least $2 million dollars to own one of these.
Would you like to have a big debt or would you prefer a smaller debt and an almost paid up property. If you look at the number of big cars on the road, you can easily guess the income level of the people and also their ability to buy and own these two million dollars property. Wah !!! I tell you what : put one million dollars in the house and take a loan of one million then can own already ^_^ (easy yah)
Photo : shows Sheraton Shunde, Guangzhou, China which offers 24 hours room service which is rare in China. I orderd Sheraton's famous club sandwhich which tasted just as good as the Singapore's one ^_^ (I have a bad habit when I travel, I tend to get hungry easily so I eat a lot.......inside my hotel room)