Defending Debt and Why It Is Good

    Submitted by editor on Sat, 02/16/2013 - 13:08

    By Ike Ikokwu, CPA, CFP

    Just as Americans have learned that are such things as good fats and good cholesterol, so too is there good debt for a prosperous financial future. The three most common ways people in this country get rich all involve using debt.

    They use it to launch businesses, invest in real estate, or pay for advanced degrees in order to become high-income earners. Admonishments to "stay out of debt" prevent people from gaining financial independence. Investing in education, a new career in another state, or a new business may be more lucrative than paying down a mortgage.

    Good debt can save you money on taxes, increase your investment gains, and allow you to take advantage of wealth-building opportunities.

    Ike Ikokwu, CPA, CFP

    Registered investment adviser

    Author of Winning the Money Game: Separating the Myths from the Truth www.winningthemoneygame.net　

    Reprinted from the Letters to Editor section in the December 2012 Issue of Home Business Magazine

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