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Money Guy Show

Debt Questions EVERYONE Is Asking

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 22 November 2024

⏱️ 33 minutes

🧾️ Download transcript

Summary

We know that debt can be dangerous. It can turn compound interest from your strongest ally into your fiercest foe. But we also know that financial mutants are optimizers. And in the right hands, certain types of debt can be a very valuable tool in your wealth building journey.

So, we’re going to take you through a few common types of debt and their ins and outs to make sure you are best using these tools to your advantage.

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Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

Transcript

Click on a timestamp to play from that location

0:00.0

Let's do it! Here's some debt questions everyone's asking.

0:09.5

Brian, I am so excited to talk about this because we know that our audience has questions about debt.

0:15.6

Is it good? Is it bad? How should I use it? What should I do? What should I not do?

0:20.4

And I'm glad that we can speak

0:21.8

into those questions and hopefully help our financial mutants do money better. Well, yeah, debt can be

0:29.7

chainsaw dangerous. I talk about that all the time, but there's this balance for how do you

0:34.2

properly use debt. How do you also make sure you're paying off debt in a very reasonable time frame so you're

0:41.4

not getting out of over your skis?

0:43.5

We're kind of going to hopefully cover that with by going through some of these general

0:46.7

questions we often get on how do you do debt and how do you do debt well.

0:50.5

And look, we know that you guys, you financial mutants, you're optimizer.

0:53.4

So there's a good chance that a lot of you financial mutants, you're optimizer. So there's a good

0:54.4

chance that a lot of you are using debt. And you're not using it in a negative or a bad way,

0:59.7

but you even want to make sure that in the way that you're using it, you're using it to the optimum

1:04.6

level. You are maximizing how you use it and use it well so that that that chainsaw tool that you have can be incredibly effective and not something that actually works against your future financial wealth building.

1:17.6

You know what else is effective?

1:18.6

What's that?

1:19.6

Subscribe to the channel.

1:20.6

Even go ahead and turn on the notifications.

1:22.6

We appreciate every one of you.

1:24.6

Okay, Bo.

1:25.6

Let's talk about the very first debt that people often have

...

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