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We Study Billionaires - The Investor’s Podcast Network cover image

TIP630: The Wealthy Gardener w/ Kyle Grieve

We Study Billionaires - The Investor’s Podcast Network

NOTE

Debt and Financial Independence

Achieving financial independence requires sacrificing and utilizing debt judiciously. Paying off debt before saving, as debt incurs negative compounding, leading to a perpetual cycle of interest payments without reducing the principal. High debt levels can lead to a situation where one can only afford to pay interest, hindering wealth accumulation and preventing financial independence. To attain financial freedom, breaking free from debt is essential as debt acts as a slave master, obligating one to perpetual drudgery.

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