Debt and Prosperity
by Ryan Loos on Sep.22, 2009, under Debt
Why do we think that we can use debt to prosper and add to our wealth? I have been there and tried it and let me tell you that I crashed and burned with day trading on borrowed money. The only way to truly build wealth and keep it is to do it with cash. If we try to use debt, the creditor will eventually need to get paid and if we can not pay them, there goes the house or some other assets that we did not really own. I do not know anyone more than Shaun (author at proseperwithmoney.com) or myself that want to be debt free! Debt is not a tool and does not build wealth….debt undermines wealth.
