WARNING!!! The Dangers of Debt

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[WeRbodyNChrist]

In other words, have a steady cash flow coming in that is substantial. 💯

[Richchr]

Amazing how these videos come to us. Not just algorithm wise, but subject matter. Exact subject matter. I’ve been grappling with this exact thought for the last couple of months. And I like your perspective more. Thank you 🙏🏽

[walterlapnet]

Getting out of debt can be the first depending on your approach. It worked well for Dave Ramsey for eg . Now the problem with your approach of being in debt, is that most people (common people) don't know how to handle debt, hence will result in more harm and benefits . So I think it dépends on individual people . But what is certain is that The Having more Debts method is more risky than no debt method .

[richardbrown]

Would like a full video on this. Really good topic.

[jsimzjmusic]

I totally am on board with what he's saying. Buy assets that provide a positive cash flow that will pay off the debt and pay you simultaneously. However, I believe the average person should stay out of consumer debt (liabilities)especially if you're going to work on a job and keep the same steady income, because you're going to be producing a negative cash flow. It's all dependent upon your mindset. If you don't know how or want to learn how to turn a dollar into two or more dollars, he's not talking to you because you will be broke. Your mind shouldn't be just setting to zero, but leveraging other people's money to help buy your time.

[godishere]

God bless you Myron 😭😭
I've been praying about this for a week now, I believe this is God's answer to my Prayer, this Wisdom 🙏

[MichelleChiku]

Wow! Debt free is still ZERO 😅 thanks for sharing such gems Myron! Always grateful to God for you 🙏🏽

[JRed]

Mr. Golden, I am amazed that I found your channel after being in prayer for the next phase of life. You are truly a blessing my brother. Thanks!!!

[TrinaHoward]

Manage your debt wisely, use debt to create wealth💕

[shelitaw]

Dr. Golden thank you for keeping the great things at the forefront of my mind.

[kevinelworthlive]

hallelujah!!! Ive been preaching this message for a long time and, man people look at my like Im a heretic!
Let me issue a further statement that will label me heretical...debt freedom can lead to idolatry. I've seen it happen.

[Fasttowpro]

I've often thought about this concept it terrifies me to start a business with Debt. Only because there's no proof of concept but you are the man when it comes to teaching this I will heed the words 🙌🏿

[craig]

I do not agree that debt free is ground zero. It absolutely is not because you had to have cash flow to have paid off the debt, so day one when you are debt free that cash flow that you used to pay off the debt now starts accumulating so you are beyond Ground Zero AND GROWING when your next check or payment comes in that you used to pay off the debt.

[thequeenmidas]

Completely agree👌🏿 I have an personal finance school and this kind of advice makes people's eyes POP!!! We've largely been miseducated with half-truths. There's a HUGE difference between GOOD DEBT and BAD DEBT. Thanks for simplifying this lesson 🙏🏿

[pdavis]

Brilliant insight!!!! This method also lowers the total cost of your debt because rate is offset by the businesses rate of profit.

[louisbrown]

Take advice from people that you would trade positions with. I have been listening to Myron since Aug of this year. My life has substantially changed because of it. You have to change your mindset first before you can receive wisdom like this. I would recommend start with "From the Trash Man to The Cash Man".

[zerotomillions]

There are 2 types of debt: personal and commercial. The acronym for personal debt is: Don't Even Buy That. If you want a personal item but you can't afford to pay cash, then don't even buy that. The acronym for commercial or business debt is: Doubling Entrepreneurial Business Transactions. The best way to build wealth is through business using OPM or other people's money. Use an LLC to shield your personal finances from your business obligations so that if the business fails its debts won't become your personal obligation.

[craig]

Myron, please clarify the debt philosophy with the proverb scripture the borrower is slave to the lender.

[joyanderson]

I'm tired of keep starting from zero.
I want to start a business that will eliminate my st loans & other debts.
DEBT FREE IS STILL ZERO!!!!💯🔥💥💥🔥

[yazzipedrosa]

Thank you Myron Golden. I needed to hear this