Even those with significant wealth encounter choices about borrowing. The key isn’t whether to take on debt—it’s understanding the role it plays in your overall financial strategy.
Good debt can be a strategic tool, helping to grow your wealth through appreciating assets, education, or business opportunities. On the other hand, bad debt can diminish your financial power, often tied to high-interest rates and non-essential purchases.
The takeaway? It’s about aligning debt with your broader wealth plan. A financial advisor can help you evaluate when leveraging debt makes sense and when it’s time to steer clear.
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