Timeless Wisdom and Practical Advice for the utterly ambitious. An International Global Wealth & Mastery Bestseller. 33 Wisdom keys and undeniable truths that guarantee a Trillionaire status and tremendous wealth. The complete practical wealth and financial guide to becoming super rich. Radical ideas and concepts that are guaranteed to change your financial destiny forever. A motivational and inspirational series.
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However, debt refers not to what kind it is (mortgage, home equity line of credit, credit card, personal loan, student loans, etc.) but the reason you incurred the debt in the first place. The rich are in the habit of going into good debt and avoiding bad debt as much as possible.
What is a good debt and what is a bad debt? A good debt is a debt that is entered into for the purpose of investing in a great business opportunity and a bad debt is a debt that is undertaken either because a loan of sorts is available or because of an intention to rob Peter in order to pay Paul.
A debt is good only if you have the means and the ability to pay it back. A debt is bad when you do not have the ability and the means to pay it back.
This is why collaterals were introduced as means of protecting those who give loans or lines of credit of sorts. However in man’s greed to possess all things by all means, men have gone to all extremes to take any debt available whether it is good debt or bad debt.
There is a time to go into a debt and there is a time to refrain from taking or going into debt. The ability to discern when to take a debt and when to refrain from taking a debt will determine if you will become a Trillionaire or not.
The rich go into debt regularly, but they do everything within their power to make sure they are going and taking a good debt. The poor on the other hand too go into debt but they do not do everything in their power to make sure they are going into and taking a good debt, consequently their debts turn out to be bad debts in the long run and put them in bondage all through their lifetime.
Why is the question of debt important to discuss on the path to becoming a Trillionaire? It’s important to discuss debt at this stage because debt is the most powerful killer and destroyer of lives, families and destinies.
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French
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Already translated.
Translated by Israel KAMGA KUATE
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Portuguese
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Translation in progress.
Translated by Andre Barroso
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Spanish
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Already translated.
Translated by Mario Israel Ruiz
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