No one knows when based on technology or the economy, but there is a fairly high probability that the asset will be removed or relocated to an alternate location in the future. This can be based on technology or traffic patterns and most leases allow for such cancellations.
Of course, they say the turtle wins the race. But many times, people are not willing to wait 10 or 20 years for what they can have today. Even if it is a discount of the total amount, many would rather have the funds today.
High-interest debt, such as credit card debt, can quickly lead to low credit scores and impede future purchases.
Both college and trade school can be very expensive. Most people take on the added debt of student loans when going to or sending their children to college.
Homes require a significant amount of upkeep to maintain or increase in value. Remodeling, upgrading appliances or replacing the roof can all cost thousands.
Depending on the area and the buyer’s credit score, a down payment on a home costs tens of thousands of dollars.
Although a business can yield significant profits over time, new businesses require a significant amount of startup capital, and banks are often unwilling to give out business loans to first timers.
Investing in a business or stocks can yield high dividends and be used to fund retirement.
If back property, business or income taxes pile up, they can lead to bad credit, liens or garnishments.