Use Good Debt to Grow Lasting Wealth
Release Date: 05/05/2023
I took a few minutes with the CEO of Paradigm Life and my mentor, Patrick Donohoe, during a packed week of working with business owners at the Money Is Mastermind in FL to discuss new features we've released for our clients to help them grow the Agency and achieve their financial dreams. Who’s the Guest? Patrick Donohoe founded Paradigm Life in 2007 and, like many during the 2008-2009 financial crisis, learned firsthand about the unpredictability of the business environment and economy. That period tested him but also shaped him. Amidst the struggle, he worked tirelessly, providing...info_outline Give me Liberty or Give me Death!
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Today, it is vital that America wakes up our true leaders of agency, not those in DC, but those in the small towns and big cities that have a rocket full of value inside and are afraid or confused of what happens when they ignite it. Gary's Gulch is about attracting these agency-filled leaders, helping them maximize their resources and become people and companies of true significance in a time the whole world needs it. Come join me and light that rocket! Episode Highlights Gary’s interpretation of agency The crucial role of personal agency in one's life A personal...info_outline Growing Agency as the Conscious Investor with Julie Holly
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I answer a listener's question on why I like debt so much, and use it as an opportunity to review the multiple dimensions of growing wealth through rental property ownership.
- Puerto Rico trip and consideration of potential tax benefits for moving there
- Potential tax law changes in the US and implications on investments
- Upcoming event by Dave Zook on recession-resistant asset classes, car washes, and self-storage
- Exploring the concept of depreciation in real estate investing
- Putting a loan on the property increases returns and leveraging it to your advantage
- Comparing returns of different purchasing methods for property investments
- Referring to Robert Kiyosaki's definition of good debt in the context of real estate investments
- Trading depreciating dollars for hard assets like gold or property
- Comparing investing in gold vs. real estate to protect wealth from inflation
- Protecting family's wealth from inflation through leveraged fixed-rate loans in real estate investments
- Swimming upstream through buying hard assets using other people's money with fixed rates
- Appreciation of rental properties as a not-so-guaranteed component of returns
- Long-term appreciation in property value tied to the devaluation of the US dollar
- The belief in good debt and the advantages of having long-term fixed-rate loans on rental properties
Links and Resources from this Episode
- Connect with Gary Pinkerton
- [email protected]
- Video format - https://youtu.be/Dye6ghFCVIg
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