Are you getting “holistic financial advices” from your financial advisor? The aim of any real financial planner should be to help with the entire financial decision making in a client’s lifetime. This goes far beyond investment decisions, which are of course, important but also cut across debt management.
Going into debt to buy things that don’t go up in value is not living. It’s putting you in financial shackles. Leveling up is obviously about improving, not impressing. Your worth and value is far more than what you can buy.
In a high inflationary environment, buying debt in today’s dollar seems like a good idea to hedge against inflation. As the money’s value erodes, the debt’s value will be locked in at the time of purchase. Meaning buying debt today at $100 means with 10% inflation, the true value of that debt would be worth $90. The asset growing in value would be a bonus! As inflation storms forward, we’ll see people taking to the safety of hard asset properties which has a large debt component.
But, you need to get off those debt highways to save your credit. You need to note the following acts as illegal or outlawed once performed by creditors, and you need to learn how best to add debt to your portfolio.
1. Calling at unreasonable times.
2. Discussing your debts with a family member or employee.
3. Taking payments without your permission.
4. Refusing to give you a fair breathing space.
5. Pressuring you to pay off debt by borrowing more money.
6. Using technical or legal language to confuse you.
7. Sending letters that look like court forms.
8. Refusing to give you information about your account when you ask for it.
9. Pretending to have legal powers they don’t have.
10. Adding unreasonable charges, higher than the actual costs of collecting the debts.
11. Continuing to demand payment when a debt is statute barred.
Here comes the end of debt to value (aides). Check newsletter to get to know more about how to add debt to your portfolio. Thanks to y’all for your support.
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