There are many philosophies on money out there and just as many philosophies on debt payoff. We choose debt freedom over investing because it works for the lifestyle we aspire to have. As we wrapped up 2020, we spent time reflecting on the year we had and planning where we want to go. It’s time to hone in on our goals so we set a good pace for ourselves in 2021.
Debt Freedom is True Freedom
Some use debt as leverage to amass more wealth. Think of the real estate investor who has lots of debt in the form of mortgages but even more equity in the properties. There are certainly ways to become wealthy using debt.
Others prefer to use their disposable income to invest in the market and grow their nest egg first, then deal with the debt later. Investing well and with the market on your side, you could potentially make even more money than you owe and be able to pay off the debt, if that’s what you desire.
Then there are those who work on both simultaneously. They split their focus and set money aside to invest and pay the debt. While others think that debt just comes with adulthood and something they will always have.
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