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Eric Siu explains why some debt is worth taking on. Dave Ramsey says avoid all debt, but Siu argues good debt like borrowing for real estate or business can build wealth faster than staying debt-free.
Eric Siu explains why some debt is worth taking on. Dave Ramsey says avoid all debt, but Siu argues good debt like borrowing for real estate or business can build wealth faster than staying debt-free.
The poor people are trying to get to live debt-free, which is good advice from Dave Ramsey. If you don't know anything about debt, don't touch it. I had to study debt. I had to study real estate. I had to study, you know, business to learn how to use debt as money. So when somebody says, I don't have money, I just borrow money. But most people borrow bad debt, and bad debt's like credit card debt. And credit card debt is debt you have to pay for. Good debt is debt that somebody else pays for it. So when Kenny and I borrow millions and billions, It's debt that somebody else pays for us. That's the only difference. So when Dave Ramsey says live debt-free, he's talking about bad debt.
