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Chapter 2: Debt. The Good, The Bad and The Tolerable
Aussie FIRE | Financial Independence Retire Early
How to Use Debt to Build Wealth
Small business is a rapid wealth builder if successful but it is also very high risk. According to the Australian Bureau of Statistics more than 60% of small businesses fail within three years. A small business idea should be thoroughly thought out, researched and planned with realistic risk management before any debt is taken on. Stashing any extra borrowed along with your ongoing savings in a hundred percent offset account is ideal. You will not pay interest on the money while it's in your offset account so as long as you don't raid it for non-emergency spending you will pay no more interest or have added flexibility.
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