Debt: The Good, The Bad, and The Wealthy | EP. 10

What is the difference between good debt and bad debt? Good debt can increase your net worth, whereas bad debt involves borrowing money to purchase rapidly depreciating assets. So what would buying a house qualify as? Join Sam and Lucas as they explore the differences, pros, and cons, of good debt versus bad debt – showing you how to use debt and leverage to acquire assets in a fun, engaging way. Borrowing money is the way to go, and these two ordinary guys will reveal their extraordinary secrets for creating wealth through equity by getting into ‘good’ debt. The debt is good, the vibes are good, the couches are new, and the bromance is strong as solid financial advice flows between these two astute business partners. We’re giving away 2, all-inclusive sets of tickets for a full day and night with us worth $10-20,000! Get the chance to fly from anywhere in the country to our office in St. Louis and spend the entire day with us, plus a little dinner on the side, before we fly you back the next day. Enter to win here.“Becoming financially literate is a super important part of living a stress-free life and setting your family up for years to come.” ~ Lucas WallsIn this Episode:- Why people who have good relationships with banks are the most financially well off- Examples of good versus bad debt – and how to tell the difference- How to control an asset with only a 20% down payment- Evaluating your credit card debt:  earning points while not letting the interest owed accrue- Borrow money to buy something that produces cash and goes up in value- When ‘the juice is worth the squeeze’ – taking a risk outside of your ‘buy box’  - Sam rants about Dave Ramsey’s fanbase (be warned!)Connect with Sam and Lucas:- Website- Instagram- Facebook- LinkedIn- YouTube- TikTok