11/30/2022
Debt taken to purchase an appreciable asset can never be wrong. In such cases, the price of the asset keeps rising and the debt keeps reducing. Moreover, you can also generate income from some such assets, for instance, real estate.
Some of these debts also help in reducing your income tax liability to a considerable extent. Therefore, the recommendation here should be to take on debt that will later contribute to your net worth and will be in line with your financial planning.
I literally leverage debt for income every single month 😎
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