How to structure short term, medium-term and long term debt to build wealth

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Mariame Robinson, President of First Global Bank shares how to structure short term, medium term and long term debt to build your wealth. Contrary to what some people may think, debt can help you build your wealth - especially if the debt is used responsibly with a clear plan and objective.  ‘Efficient’ debt verses ‘inefficient’ debt

It’s important to outline the difference between efficient and inefficient debt.

Inefficient debt is generally associated with assets that depreciate in value and have no potential of producing income or offering tax benefits. This could include debt such as a car loan or using a credit card to pay for a holiday.

Efficient debt on the other hand is acquired to purchase assets that have the potential to grow in value and/or generate income that can be used to pay back the debt. Examples of such assets include property, shares and other securities such as managed funds. It’s this type of debt that can help you build real wealth over the long term.

There are a number of ways to manage debt as a means to build wealth over the long-term.

We cover your debt options in this training session. Click here for more information.

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