Debt has become a tremendous problem in America today. Dave teaches you how to beat debt and build wealth with a plan that works.
Myth: Debt is a tool and should be used to help create prosperity.
Truth: Debt isn't used by wealthy people nearly as much as we are led to believe.
Debt is dumb. Most normal people are just plain broke because they are in debt up to their eye balls with no hope of help. If you're in debt then you're a slave, in the sense that you do not have the freedom to use your money to help change your family tree. According to a recent USA Today article about debt, 78% of Baby Boomers have mortgage debt, 59% have credit card debt, 56% have car payments.
It takes a lot of will, discipline, courage, and help to slay the debt monster. But it can be done. Imagine how much you could put toward retirement if you just didn't have a stinking car payment? This is how the wealthy build their wealth. Debt is really dumb. Welcome to the real world!
This thread is right up my alley, because I hate debt. My wife and I owe $0 in credit cards. We have $0 in car payments. We bought a house in a rural corner of our state, with a slightly longer commute, but easy to manage housing costs and beautiful quality of life. We have a 20 yr mortgage that we pay off as if it were a 10 year. We have never borrowed against the house. And yet we don't feel like we have to do without much at all. We save and invest like crazy, too, in a combination of funds, 401Ks, money market accounts, etc. It isn't really that tough. You never know how long the corporate gravy train will last, so sock it away while you can.