Member-only story
$650,000 or an 800 FICO?
Once again the age-old question re-emerges online. This time I have an answer for it.
Every year without fail, social media presents us with a question that regardless of race, gender, and societal constructs cuts through the noise of social media and gets our attention. The common denominator is money, and it unites and divides us all the same. We need it.
While I don’t find social media to be a hub of perplexity, I’m occasionally struck by a question and find myself unsure of which I would choose. The question of the month is whether people would choose to have an 800 credit score or have $600,000 liquid cash.
You’ve undoubtedly heard people from Robert Kiyosaki to Grant Cardone praise using debt to gain access to real estate and speed up their business, and in the same vein heard Dave Ramsey condemn having debt and praise having money over a higher credit score.
Before you begin to post links on the amount of Americans siphoning funds from the government or lecture me on the rate of financial literacy in our country, I will say this: The choices people make depend on what they know and what access to they have to resources.
While people can find access to the internet and look for articles and videos, not everyone has the benefit of…
