"Unless one is born to a wealthy family, the use of credit is really the only way one can begin to accumulate wealth."

Not even close. Our grandparents saved, invested, and would never consider using their home equity like a piggy bank for vacations and toys. Pay yourself first, not some lender.

"I was 45 years old before I bought my first new boat. I wished I had done it earlier in life. I lost many years of fishing that I can never get back."

Wouldn't it have made more sense to buy a used boat that you could afford rather than not fish?