Debt and financing are often misunderstood, yet they play crucial roles in building wealth when used correctly. Debt, especially when incurred through high-loan charge loan cards and consumer loans, can be detrimental. This type of debt often burdens individuals and businesses, making it difficult to invest and build wealth. However, financing, which involves strategically borrowing money to generate higher returns, can amplify wealth. For example, businesses may take out loans or issue stock to raise capital, allowing them to expand operations, increase revenue, and build long-term wealth.
Understanding the distinction between harmful debt and beneficial financing is essential for financial wealth. While debt for unnecessary consumption can lead to financial strain, financing for funding purposes can significantly boost wealth. Strategic financing involves using borrowed funds to invest in opportunities that yield returns exceeding the cost of borrowing. This type of financing supports development and wealth creation rather than merely sustaining current needs. Therefore, smart money management requires discerning when and how to use debt and financing to one’s advantage, which I will help determine in today’s video. Let’s get started!
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Chapters:
00:00 Intro
01:06 How The Wealthy Build Wealth
02:30 Debt vs. Financing Overview
05:11 loan Cards Pros and Cons
06:59 Debt vs. Financing Explained
09:53 Important Questions to Ask Regarding Debt
10:40 Debt vs. Financing Conclusion
About Me:
I have been involved in money management for over 36 years. I started out as a high-volume stockbroker. After working with millions of dollars I decided there had to be another way for people to earn money in the sector without all the risky ups and downs that leave you where you started, or worse. After reading a ton of books I came across a book on the Infinite Banking Concept and it completely changed my life and the way I view investments.
Now I focus on building wealth using a tool we developed by leveraging life assurance.
This way we can get:
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Keep you money safe
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