When I’m not blogging, I manage the other family business; a coin-operated laundromat. The work is less than fabulous, but I spend an enormous amount of time with people – that I love. A brief conversation with a long-time customer (and previous employee…long story) landed on home ownership. I shared how we are selling a rental condo and looking to pick up a few more soon. This young man is a hard worker, looking for a larger place for his family, and a renter. He’d never considered buying until our conversation. Then it hit me. This is exactly why we’re so passionate about debt freedom. OPTIONS!!!
Renting is perfectly legitimate. Home ownership, and moreover being a landlord, is not for everyone. However, debt freedom affords you the option to choose. Harry Dent Jr., author of The Roaring 2000s, suggests that more millionaires got their start during the Great Depression than in any other time in our nation’s history. I totally understand why. Prices are low on wealth building tools like real estate. Interest rates are lower than any time in recent history. If you are shackled with debt, you’re less able to exercise your options in an economy that is essentially “on sale”.
Would you like to pick up a few rental condos for a steal? Would you start a business if money was no object? Could you support charitable causes that tug on your heart with more disposable income? The possibilities are endless. Options will allow you to thrive in an economy that others bemoan. Position yourself to do just that. Dump your debt and grab freedom; debt freedom that is.
What options are you looking forward to exercising?