Time and time again you opt for advise that may be well suited for you but generally not necessarily the best advise for the person asking the question. (no doubt with the best of intentions)
You misread me. I've only used myself as an example of what could
be done, given the right discipline. I have never underplayed the risk.
1) invest your inheiritance in the stock market rather then pay off your mortgage.
Correct. If you are on track to pay your mortgage and are secure enough to continue doing so, why wouldn't you want that inheritance to grow?
2) use your credit cards and play the rewards game: of course being perfect you pay them off every month and never pay any interest. Unfortunately most people are not perfect and do not pay them off each month. I humbly suggest you google "average consumer debt" in the US. Then study the numbers it's all pretty scary stuff! The average cc debt for people who cary a balance is over $15,000. I'll bet they pay close to 3 grand in interest each year too.
I already know the statistics. However, I've never considered "do not buy what you cannot afford" and "pay off your bills on time" to be a mark of perfection. To me, that's just common sense. If you can't do those things, you'll be in trouble even if you've paid off your mortgage.
And you never addressed the statistics on how many people don't have enough money to retire. I'd bet that it exceeds the number of people who've been foreclosed upon. And do you have any idea at all how much each year costs to delay retirement savings? It's staggering, since the largest amount of gain is from the money that's been there the longest.
The point is that the gentlemen here stated that he had made mistakes before. While I am sure he has matured (as we all do) Would you suggest a person with a prior gambling issue visit the casinos? Of course not. Empathy is the art of listening and putting yourself in the other persons shoes and offering not what works for you but what will likely work for them.
I never heard of anyone getting into credit card debt problems that never first obtained a credit card. Did you? .
I have not. But at the same time, your own responses have been particularly one-note. All debt is bad is a pretty good example.
BTW, why'd you duck my question? What exactly do you do in the industry? And why do you work there if you think the industry is evil? Aren't you perpetuating its success even as you rail against it?
You know, about 35% of cardholders pay off their credit cards every month, largely to rack up rewards points and airline miles. That's not an insignificant number of people. Wouldn't it be better to get more people into that category (i.e. teaching people to use a tool) than to prevent them from getting access to that tool?