I’m doing a quick blog today because I’m spending tonight with a special lady friend; the lovely Tag.
I’ve had a lot of people disagree with me in the last few months about investing money when you still have debt. Many people would tell you that there is no guarantee in investing and that you should take the sure thing and pay off debt.
I know someone who has a different idea about investing.
The nice thing about being in debt is that you probably don’t have a lot of money. Why is that nice? Because that means you can invest in small companies that have a lot of growth potential. Here’s a quote from the world’s most famous investor, Warren Buffett:
“It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”
You read that right. Warren Buffett guarantees he could get a 50% return on $1 million. That’s $500,000 for the non-mathematically inclined. Warren Buffett’s problem is that he has so much money, he can’t invest in a small company without buying the whole darn thing.
So congratulations non-billionaires; Warren Buffett is jealous of your financial situation.
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