No Debt Is Freedom

[Tom Goans]

No Debt Is Freedom

Consider this:

Your money working for You when you own a residential rental property investment. The tenant goes to work each day to pay you to live at your real estate investment.

However, You are working for someone else when you have debt. You work each day to accumulate money to pay off the debt. You pay extra for the use of the borrowed money. In effect, you are working for those who provided you with credit. You are paying for their new auto, fancy office, and gold watch.

Being debt is freedom.

It is fascinating how many ways having debt can be justified by some.

Do you own the real estate investment if there is a loan secured by the real estate? No. Stop making the payments to the lender and find out who really owns the real estate.

If you have credit card debt, some of your money is paid to the credit card company instead of going to family enjoyment, education, or retirement. You are working for the credit card company. The same applies to all credit. No philosophy, just a fact.

Some argue the recent recession was caused by excessive debt of all types at all levels. The root of many recent real estate foreclosures was excessive debt.

Being debt is freedom. It allows more freedom for your family and future. Add up the interest paid on all the debt each year. How much education will this buy? How much will this fund a retirement account?

Your comments and thoughts are welcomed and encouraged.