Why you SHOULD NOT Get out of Debt!
Do I DARE say it? DEBT. The ultra rich use debt as the way to get richer.
Most middle class people will follow, Financial Expert, Dave Ramsey's path (although, not a bad path) just not one that will make you extremely wealthy. The very wealthy, those who do not work for money do not follow this path.
If you start to understand money as I have you will start to learn it is a rigged game which we are not designed to win at.
It is a system of debt which propels our country to the high levels of consumption we enjoy:
E Robert Griffin Explains why Money is not Money here:
So Really the only way to protect ones self is to have GOOD debt, since the value of the money you pay back will be worth less than the money you received. It should be noted you should only do this if your assets can cover the debt!
Thus this is how the ultra rich are getting richer, they use debt, to purchase more Real Estate, noted above. This then gives them even more deprecation, this yields them more CASH on their tax returns, which allows them to buy, more assets which produce cash and give tax deductions.