Borrow money from credit cards/Carlos Pueblo

 Borrow money from credit cards/Carlos Pueblo

At the first day of the year 2021, I borrow money from two of my credit cards from the same bank. I receive the fund on the fifth day of January via three holidays. It is amazing for the speed of the loan. On the sixth day, I am invited to get another loan from a soliciting bank offering me to get a credit card loan. I apply the card following their instruction on the letter and get it done and approved in 3 minutes. Once I receive the new card, I can get the loan immediately. Amy asks me whether I need to get such loans. This is the art of managing money in my life. 

When Michelle was at the business graduate study, she asked me some questions about money, finance, and security laws; therefore, I realized the security 7 license and practice was really a graduate level of study. I borrow money not because of needs because that I save money all the time and live within my means. I explain my theory to Amy that I borrow the money to buy my time to hold my requirement minimum distribution fund a little bit longer before taking out from my pension. I bet on that the market will grow a little bit better than my fee. It is not much of a gain yet a gain is a gain in life. I pay back the loan before it jumps to 16.99% interest rate. I withdraw my RMD to meet my annual expanse during a better time of the loan period. I make the selection and control of the money not the other way around.

I have been out of a major contract of job since 2001. Even though I did attempted to go back to work in vain. Thanks to my regular savings and hold the previous investment, I have passed through the hard time without a major earned income. I can afford the loss of borrowing fees to credit card loans and I am teaching Arthur how to manage his money. I tell him that there is no need to worry about his minimum wage job. As long as we work, save, and invest, we can reach the financial independence. As a matter of fact, last year his investment income was passing his earned income.