127: Don’t Be Debt-Free. Be Financially-Free.
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 17 March 2017
⏱️ 46 minutes
🧾️ Download transcript
Summary
#127: You are invested in a zero-return investment. Home Equity is unsafe, illiquid, and its rate of return will always be zero. Then why are you so heavily invested in home equity?
We discuss strategies to turn this around, and use home equity as a wealth-builder for you.
Making extra mortgage principal payments on one’s home is usually a terrible idea.
Striving to be debt-free often prevents one from becoming financially-free. You'll see why.
Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.
Listen to this week’s show and learn:
03:57 ROI.
04:28 Turnkey income property inventory keeps tightening.
06:33 You have money that you didn’t know you have.
07:35 Your value as a listener.
12:04 How much of a zero-return investment would you want?
13:44 Debt-Free vs. Financially-Free.
17:01 Property equity is unsafe, illiquid, and has zero rate of return.
20:18 Equity transfers.
24:46 Making extra principal payments on one’s home.
26:55 “Feelings.”
27:32 30-year fixed vs. 15-year fixed amortizing mortgage loans.
34:56 Control.
41:51 HELOCs.
Resources Mentioned:
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Get Rich Education is brought to you by Norata Real Estate, the Real Asset Investor, and Highlands residential mortgage. |
| 0:08.5 | Are you on track to achieve your financial goals? Income producing real estate is the most historically |
| 0:13.3 | proven way to accumulate wealth and has created more financial freedom than any other means. |
| 0:18.7 | Norata real estate provides everything you need to invest in the best turnkey cash flow rental properties. Our simple proven system will help you create real wealth and passive monthly income. Get your free strategy session with our knowledgeable investment counselors at Noradarrealestate.com. That's N-O-R-A-R-A-R-A-R-A-R-E-A-R-E-A-R-E-E-A-R-E-E-A-R-E-E-A-R-E-E-A-R-E-E-E-R-E-E-E-R-E-E-E-R-E-E-N-E-E-N-B-E-E-E-E-N-B-E-E-E-E-E ordinary people into millionaires and billionaires than anything else, and can provide you |
| 0:55.9 | with more wealth and happiness than you ever thought possible. Now, here's your host, investor, |
| 1:02.7 | entrepreneur, business owner, and educator Keith Weinhold. |
| 1:10.6 | Here we go. |
| 1:11.5 | Hey, welcome to GRE. |
| 1:12.9 | Get Rich Education episode 127. |
| 1:15.5 | I'm your host, Keith Weinhold, both today. |
| 1:17.9 | And on next week's show, we're going to talk about debt and why you don't want to be debt-free. |
| 1:24.1 | If you desire to have more free time in your life or travel more or give more to others |
| 1:30.0 | and you're overworked and underpaid or just feel unfulfilled, well, I'd like to ask, why is that |
| 1:36.4 | the lifestyle that you've chosen for yourself then? So this is some good news. You have a lot of |
| 1:41.9 | latitude over controlling the type of life that you want, |
| 1:45.6 | so we're going to get into that these next two weeks. Last week, Robert Kiyosaki was here, |
| 1:51.0 | and Robert and I talked about the importance of debt in creating wealth. The poor work for money, |
| 1:57.7 | the rich have debt working for them, so I'm going to tell you exactly how I do |
| 2:03.5 | this today. Happy St. Patrick's Day. I've learned we have quite a few GRE listeners from Ireland. |
| 2:09.5 | I hope you're having a more productive day than me today. It's still ski season here in Anchorage, |
| 2:16.1 | Alaska. Yeah, the season is winding down soon, but this morning I got my stuff together to go cross-country skiing by myself. |
| 2:23.7 | And, you know, there's a lot of stuff to get together to go ski. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Keith Weinhold, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Keith Weinhold and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.