Using Debt to Build Wealth with Tom Anderson #637
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 27 February 2023
⏱️ 54 minutes
🧾️ Download transcript
Summary
Virtually all conventional wisdom points folks in the direction of paying off their debt. “Debt is dumb” is a line you’ll hear after listening to most personal finance podcasts for about 30 seconds. It's the mantra and driving force behind many money experts out there. But our guest today wants money savvy folks to take another look, and to reconsider debt. Tom Anderson is the author of the NYT best seller “The Value of Debt” and he has actually written multiple books on the different ways that we can utilize debt to build wealth. While most financial planning experts are only looking at debt as something to be eliminated, Tom advocates for the strategic use of debt. Listen as we discuss optimal debt ratios, the importance of liquidity, the psychological reality of debt, and plenty more on today’s episode!
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Transcript
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| 0:00.0 | I'm Jay Shetty and on my podcast on purpose, I've had the honor to sit down with some of the most incredible hearts and minds on the planet. |
| 0:07.0 | Oprah, Kobe Bryant, Kevin Hart, Louis Hamilton, and many, many more. |
| 0:12.0 | On this podcast, you get to hear the raw real-life stories behind their journeys and the tools they used, the books they read, |
| 0:18.0 | and the people that made a difference in their lives so that they can make a difference in hours. |
| 0:23.0 | Listen to on purpose with Jay Shetty on the iHeart Radio app, Apple Podcast, or wherever you get your podcasts. |
| 0:28.0 | Join the journey soon. |
| 0:30.0 | Welcome to Hadamuni. I'm Joel. |
| 0:32.0 | And I am Matt. |
| 0:34.0 | And today we're talking using debt to build wealth with Tom Anderson. |
| 0:38.0 | That's right. So virtually all conventional wisdom out there points folks in the direction of paying off their debt. |
| 1:02.0 | Right? Like debt is dumb. That's the line that you'll hear. |
| 1:05.0 | After listening to most personal finance podcasts for no more than 30 seconds, it's the mantra. |
| 1:11.0 | It's the driving force behind many, many experts out there. But our guest today wants folks to take another look. |
| 1:17.0 | He wants them to reconsider debt. And Tom Anderson, he's the author of The New York Times Best Seller, the value of debt. |
| 1:25.0 | And he's actually written multiple books on using debt in order to build wealth. |
| 1:30.0 | But while most financial planning experts are only looking to grow assets and to decrease liabilities, |
| 1:37.0 | Tom advocates for the strategic use of debt. And that's what we're talking about today. |
| 1:42.0 | So Tom, thank you for joining us on the podcast. |
| 1:44.0 | Hey, thanks Joel and Matt. I really appreciate it. It's a pleasure to be here. |
| 1:47.0 | We're glad to have you Tom. And the first question we ask everybody who comes on the show, we want to know kind of what they like to splurge on while they're saving. |
| 1:54.0 | And investing and thinking about their future. What is it that you like to splurge on? |
| 1:58.0 | We call it the craft beer equivalent because Matt and I we like craft beer quite a bit. What are you literally drinking? |
... |
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