My Biggest Financial Regret [Edit: Wrong]

[OmarR]

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@Brian_Earl_Spilner wrote:

My biggest financial regret? Not investing more money and buying property when I was younger so I could retire in my mid-40s.

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 Absolutely!

More into retirement funds & real estate, and less cars & partying for me if I could go back into time.

[Anonymous]

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@tcbofade wrote:

Other than interest rate, what's the difference?

You CAN use a credit card to handle some cash flow emergency and pay it back as able.  A PLOC (and a HELOC I discovered...) BOTH affect your overall utilization just like a credit card.

If you want one, go get one.  If you've got plenty of credit cards available, I don't think that it will help you much.

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Actually, a HELOC over $50,000 behaves differently.  The HELOC on my profile is at 100% utilization and has no effect on my utilization and, as far as I can tell, very little impact on my scores.

NOTE: I'm a cosigner on said HELOC and it might be one of my top 5 credit regrets.  

[Brian_Earl_Spilner]

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@OmarR wrote:

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@Brian_Earl_Spilner wrote:

My biggest financial regret? Not investing more money and buying property when I was younger so I could retire in my mid-40s.

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 Absolutely!

More into retirement funds & real estate, and less cars & partying for me if I could go back into time.

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God, the amount of money I dumped into cars...I could have bought some land and turned it into a strip mall. My wife's step-grandmother gets $11k a month from just one.