Maybe these aren’t “new” rules for debt management but given the past decade of record low interest rates we haven’t talked about them in a while. Debt is an often misunderstood and misused source of capital. Some people avoid it, some overuse it, but believe it or not, there are productive ways to use debt to help increase your wealth.
With the cost of borrowing changing drastically in less than a year, it’s an ideal time to revisit how you can use debt to your advantage. In this episode of Wealthy Behavior Ed Jastrem, Chief Planning Officer at Heritage Financial, joins to explain.
- Given that rates have increased dramatically over a short period of time, how should your views of debt change?
- Is the rule of thumb that you should retire with no debt still valid?
- How to determine whether you should pay debt off early or keep it.
Additional Resources:
- With Mortgage and Other Rates Increasing is a Family Loan an Option?
- The Boston Advisor: Using Debt Smartly to Build Wealth
We’d love to hear from you! Email us questions, ideas, or feedback at wealthybehavior@heritagefinancial.net.
*BONUS* How To Build Your Next Million, our free ebook, teaches investors about the tools that can help them SAVE more, GROW more, KEEP more, and PROTECT more. Get your copy today!
About Wealthy Behavior: Heritage Financial Services
Wealthy Behavior digs into the topics, strategies, and behaviors that are key to building and protecting personal wealth and living a rich life. We’re Boston Massachusetts-based wealth managers who have been helping busy, successful people pursue their financial goals for more than 25 years. Hosted by Sammy Azzouz, President of Heritage Financial, Wealthy Behavior digs into the topics, strategies, and behaviors that are key to building and protecting personal wealth and living a rich life.
