This is a very serious discussion of debt today. I don’t care for cute cat pictures but this cat drowning in quick sand sums up how I am feeling about my debt situation today.
My net worth is approximately $190,000. That breaks down as follows : house $200,000
cash and investments $ 9,500
HELOC debt $ 20,000
House plus cash and investments minus debt equal a net worth of about $190,000. That may seem like a lot but I read a lot about personal finance and I am very, very, very much behind all the other 40 something savers and investors. I am also very, very much behind most of the 30 something savers and investors.
I rounded all the numbers because the dollars and cents are just not important to the totals. I am not worried about pennies I am worried about the thousands and thousands of dollars that my net worth is lagging behind.
The reason why? The gosh darn @%^**&^%$$ debt.
I am still looking at 2 years to eliminate my debt and I have a bad case of debt fatigue today. There must be a way to generate more income or cut more expenses or reduce the amount of interest owing on the debt.
No real answers to any of the big problems today. Just more questions.
It does not appear that peer to peer lending (p2p) is available in Canada. Lots of states restrict it too. Too bad for me. I will have to find something else with a high potential for return to invest in. What else offers a high rate of return? Internet start ups? I don’t invest in things I don’t understand like internet start ups. What else is left for people who would like to see big reward for their money?
Loan sharking? That would be a form of p2p lending. I would have to hire a leg breaker and those guys don’t come cheap.
Booky? That is a form of gambling but the old saying is that the house doesn’t lose. I think that the house could lose and I could end up being visited by one of those leg breaker guys (see loan sharking).
Time machine inventor? Invent a time machine, go back to 1995 and buy Apple shares for $2.00 each then sell them in September 2012 for $667.00 each.
Where can everyday Joes and Janes see a good return on an investment that doesn’t involve criminal behaviour or bad science fiction?
If Cher could turn back time I wonder if she would make a different wardrobe choice?
No cats were harmed in the creation of the cat photo but I cannot guarantee that a variety of exotic and domestic animals weren’t permanently harmed, plucked or at least mentally scarred during the creation of the Cher video.