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Good Debts Make You Rich even Richer

Good Debts Make You Rich even Richer

During my five-year assignment in the Philippines, I met a Lebanese-American businessman who lived most of his life in Asia, between China and the Philippines. He was in the business of producing clothes and garments in China and the Philippines and exporting them to the US. He was also a landlord to many residential and commercial properties in the Philippines, Singapore, Hong Kong, Dubai, UK, and the US. He was well connected in the Philippines to influential people. His employees and business partners treated him and respected him as a father figure. He became my personal coach and mentor and helped me change my financial life and achieve financial freedom.
In one of our many coaching sessions, he wanted to share with me one of the biggest secrets about good debt. With a loud and assertive voice, he said: “You will become at least as rich as the amount of good debt you take in your life.” My brain started racing while trying to figure out what he meant. He explained that if I want to receive $1 million in the future, I need to borrow $1 million in good debt. He then raised the numbers and continued that if I want to receive $10 million in the future, I need to borrow $10 million in good debt. My eyes were flashing and my brain was racing in all direction trying to make sense out this.
If you reflect on this, almost all of us are programmed to limiting beliefs about debts. I often hear a statement like that: “Debt is bad. It signals captivity. I must avoid it at any cost.”
If we dig deeper into your own brains, your personal truth could be about a bad experience in debt that you have taken towards the purchase of goods and services that became worthless by the time the debt was paid … and this is almost correct for most people.
What my mentor has taught me is something that goes counter intuitive to the common life and society programme we’ve been set for. He taught me to have empowering beliefs like: “I need to start investing in income-producing assets that will generate unearned income. I understand that debt allows for higher returns. I can never become wealthy without incurring some form of good debt in my life.”
Whenever I start having Limiting Beliefs, I always think about my own Personal Truth, and then consciously reprogram my brain to have Empowering Beliefs.

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