Quote:
|
I can invest. The more I have, the more I can invest. Dividends are in proportion to the amount I already have.
|
This is quite true. I do that with all of my investments.
Quote:
|
If you can build up a down payment, purchasing property causes housing payments to add rather than detract from your net worth.
|
But the long term investment is what pays off in real estate, unless of course you got in during the recent bubble. But even with that you should come out ahead in the long run. Smart buyers can really make this work to your advantage. Simply paying an extra payment a year makes a significant difference. Real estate becomes your real nest egg over time. If you move frequently it will never likely pay off. But if you are settled down, like me, I will make more than 50% back on my house sale if I sold it in 5 years (because it will be nearly paid off). I would disagree, real estate can be a real money maker.
Quote:
|
If you have money, it's much easier to get loans of more money if you wish to start a business.
|
That is very true. And if you don’t have any assets you will find it hard to get any kind of financing. And you would then be truly at the bottom of the economic scale.
Quote:
|
And that's at my middle-class level. At the ultrarich level, it is hugely exaggerated. Bill Gates could get his next million a bit quicker than I could get
|
Again, ultra and uber rich is not an accurate or fair comparison in any of these scenarios. That is a whole class of people and situations which few to none of us will ever experience.