Quote:
Originally Posted by shirker
If the path to wealth was being debt-free, many self-made wealthy people (ones who aren't just given a ton of money to begin with) would not be where they are. How do start up companies ever grow to be huge? They get seed money, they get investments, they get debt. The key is just being able to pay off that debt while making even more money off of it. That, of course, is never a guarantee, but responsible debt management is far more important IMO to financial security and wealth than living debt-free.
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And most of them start a corporation or LLC, work 60-80 hours a week, and don't live frivolously. Investing in your business and taking on debt is one thing, buying an impractical RWD sports coupe for personal use is another..