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By Staff Reporters
SPONSOR: http://www.MarcinkoAssociates.com
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Sometimes debt is a necessary tool in building wealth
Using debt to build wealth might seem counterintuitive. After all, when you calculate your wealth, you look at what you own (assets) and subtract what you owe (debts and liabilities) to determine what your net worth (wealth) is.
It’s easy to oversimplify that debt is bad and is harmful to your wealth. Because some debt is really harmful, like credit cards, automobile, debt gets lumped into the category of “bad.”
But some types of debt can be useful and sometimes necessary to create wealth; home, education, business, etc. For folks that don’t readily have access to large sums of cash or capital, debt may be the tool that allows them to expand.
Borrow Carefully * Invest Wisely!
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Filed under: Accounting, Financial Advisor Listings, Financial Planning, Funding Basics, Investing, Marcinko Associates | Tagged: assets, auto, bad debt, budgeting, debt, debts, education, finance, good debt, home, liabilities, Marcinko, net worth, personal-finance, Wealth |
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