How Rich People Use Debt To Get Ahead
Ken McElroy Show
Ken McElroy
4.7 • 712 Ratings
🗓️ 6 November 2025
⏱️ 32 minutes
🧾️ Download transcript
Summary
• • •
If you're an accredited investor and are interested in learning about opportunities to invest with Ken follow this link: https://mccompaniesinvest.com/knowmore
• • •
Checkout KenPro - Ken's Education Platform: https://ken-mcelroy.learnworlds.com
• • •
ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: https://mccompanies.com
• • •
DISCLAIMERS: Any information or advice available on this podcast is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this podcast. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this podcast are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this podcast. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites. All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate.
Comments that are off-topic, offensive, or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
© 2025 KenMcElroy.com, LLC. All Rights Reserved.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | How's the business going? |
| 0:01.1 | We're busier than ever, but struggling to get the staff we need. Recruiting can be such a distraction. We gave Job Centre Plus a try, and they've really helped us out. Really? Yeah. It was dead easy. We got our own employer advisor, Julie, who helped advertise our jobs, shortlisted candidates for us and letters interview at the Job Centre. We've hired some great people, and Job Centre Plus really took the hassle out of it, And there was no fee. |
| 0:22.7 | Brilliant. That's straight on my to-do list. you at the job center. We've hired some great people and Job Center Plus really took the hassle |
| 0:21.1 | out of it and there was no fee. Brilliant. That's straight on my to-do list. Find out more at |
| 0:25.9 | business.gov.com.uk slash recruit. Eligibility criteria apply. Since inflation is up and it's |
| 0:33.5 | really hard to get by on the wages people are currently making, I thought today would be a good day to dive into how investors use financing to build |
| 0:41.4 | long-term wealth the smart way and maybe not the way that you have heard in your finance classes. |
| 0:47.9 | Yeah. |
| 0:48.6 | I think it's probably, you know, good to just have some refreshers around good debt and bad debt. |
| 0:54.0 | Right. Like those terms get thrown around. you know, good to just have some refreshers around good debt and bad debt. |
| 0:54.6 | Right. |
| 0:59.9 | Like, those terms get thrown around a lot, you know. |
| 1:07.6 | And I think in its simplest form, you know, debt is actually good. |
| 1:12.5 | But if you go to like on a Dave Ramsey or Susie Orman or some of these people and they say get out of debt, what they're really talking about is the people that don't |
| 1:16.9 | understand it. And you know, you call it your W-2 person. But debt is a powerful leverage compound. |
| 1:25.6 | It can compound for you. So bad debt would a great example of bad |
| 1:30.9 | debt would be like a new car. You know, let's say a $100,000 car where you put $5,000 down, |
| 1:38.2 | 10 grand down, 20 grand down, you pick a number and you finance the other, let's say, you know, let's call it 90 grand. |
| 1:46.6 | And it doesn't really even matter what the rate is. |
| 1:49.3 | What's that car worth? |
| 1:50.9 | Like, as they always say, when you drive it off the lot, it's worth a lot less. |
| 1:55.1 | Okay, we know that, okay? |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Ken McElroy, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Ken McElroy and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.